Malaysia Morning News For August 8

Malaysia Morning News For August 8
Estimated Reading Time: 5 minutes |

Malaysia morning newsBuilder of $100 Billion Malaysia City Looks Beyond Spooked Chinese Buyers
Country Garden Holdings Co. said it’s looking to attract customers from countries such as Thailand and Vietnam as some Chinese buyers hit by capital controls have pulled back from the $100 billion Forest City project in southern Malaysia.
                                     — Bloomberg

Hong Kong’s NewOcean to build US$1.2 billion oil refinery in Malaysia
Hong Kong’s NewOcean Energy Holdings Limited said on Monday (Aug 7) it planned to build a 5.1 billion ringgit (S$1.63 billion) petroleum refinery complex on Malaysia’s east coast along with two partners.
— The Straits Times

US media firm Hearst leads $133m round in Malaysia’s video streaming service iflix
U.S. media company Hearst Communications Inc led a $133 million investment in iflix, the Malaysian provider of streaming video said on Monday.
— Deal Street Asia

CIMB launches Biz123 to give SMEs a one-stop solutions support
CIMB Bank (M) Bhd has launched a financial services platform together with a dedicated call centre equipped with relationship managers to help small and medium-scale enterprises (SMEs) get all their financial service needs from one source.
— The Star Online

Malaysia amends its drug law
Malaysia’s Cabinet has agreed unanimously to do away with the mandatory death penalty for drug traffickers, a minister said on Monday, but the decision still has to be approved by Parliament.
— The Hindu

Malaysia probes atheist group after uproar over Muslim apostates
Malaysia is investigating an international atheist organization, a minister said on Monday, after a picture of the group’s local chapter went viral, sparking claims that Muslim apostates were involved.
— Reuters

Malaysia starts green legacy for KL2017
Malaysia is set to start a green legacy by adopting an elaborate sustainability management plan for Kuala Lumpur 2017 (KL2017) – the brand name of the 29th SEA Games.
— The Star Online

Southeast Asian lawmakers urge Malaysia to halt migrant crackdown
Southeast Asian lawmakers on Monday (Aug 7) urged Malaysia to halt a crackdown on migrant workers that has seen more than 6,000 foreigners detained and sparked alarm among rights groups.
— Channel NewsAsia

Malaysia Reveals New Maritime Base Near Disputed Island With Singapore
On August 1, the Malaysian government inaugurated a new maritime base near Pedra Branca, an outlying island that is now under the jurisdiction of neighboring Singapore but which Kuala Lumpur still believes is part of its territory. Though construction of the facility had already been completed last year, its unveiling was just the latest sign of the revival of a decades-old dispute that has long roiled bilateral ties.
— The Diplomat

Malaysia’s June IPI growth expected to be slower
Malaysia’s factory output, as measured by the Industrial Production Index (IPI), is expected to remain robust in June, although growth will likely be slower than the preceding month due to the softer pace of exports growth.
— The Star Online

Car warranty coverage may extend to B10 biodiesel
The government, through the Malaysian Palm Oil Board (MPOB), is in the midst of discussions with automotive companies to extend the warranty coverage to B10 biodiesel for commercial vehicles from B7 currently.
— The Borneo Post

Bank Negara to sell special coins via public balloting
Bank Negara Malaysia (BNM), which will issue commemorative coins to celebrate the 100th anniversary of the Malaysian palm oil industry, is selling the coins through public balloting to ensure fairness in distribution to intended buyers.
— The Star Online

Almost RM70 million lost to Ah Long since 2016, say police
Police have recorded a total of 2,275 cases involving Ah Long (illegal moneylenders) with total losses amounting up to RM68.8 million.
— New Straits Times

Zaid targets MCA, MIC over unilateral conversion bill withdrawal
Former minister Zaid Ibrahim says MIC, MCA presidents will know ‘injustice of unilateral conversion when a son-in-law converts their grandson to win custody’.
— Free Malaysia Today

Cabotage policy exemption means cheaper goods
The cabotage policy exemption for cargo shipping activities from ports in the peninsula to Sabah, Sarawak and Labuan F.T. is expected to lower goods price in East Malaysia.
— Astro Awani

SEDC signs MOU with UDA Holdings
The Sarawak Economic Development Corporation (SEDC) has entered into a Memorandum of Understanding (MOU) with a federal government linked property developer – UDA Holdings Bhd (UDA).
— The Borneo Post

RAM broadly positive on business prospects for the second half
RAM Rating Services Bhd is broadly positive on business prospects for the third and fourth quarter (3Q to 4Q) of 2017, based on its third successive positive sentiment reading of the survey-based RAM Business Confidence Index.
— The Borneo Post

Malaysia Maintains Strong Growth On Govt Measures
Malaysia has been able to sustain its strong economic growth over the years, driven by measures introduced by the government including the National Transformation Programme (NTP) which was launched in 2010.
— Malaysian Digest

Malaysia moves closer to scrapping mandatory death penalty for drug traffickers
Malaysia’s Cabinet has agreed unanimously to do away with the mandatory death penalty for drug traffickers, a minister said today, but the decision still has to be approved by parliament.
— Malay Mail Online

PICKnGO app eyes 10,000 taxi drivers
Pick n Go Sdn Bhd is aiming for 10,000 taxi drivers to be on its newly-launched taxi booking application (app) platform, PICKnGO, within a year.
— The Borneo Post

GD Express continues towards expanding capacity, regaining syariah status
E-commerce delivery players such as GD Express Sdn Bhd (GD Express) are facing yield pressures as a slew of new entrants enter the market and existing players add capacity This has worked in favour of e-commerce platforms who gain bargaining power in negotiating for lower delivery rates.
— The Borneo Post

Feature photo John Walker
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Malaysia morning news by AEC News Today is your one stop source for Malaysia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

 

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Stella-maris Ewudolu

Stella-maris Ewudolu

Stella-maris graduated with a Bachelor of Arts, Education from Ebonyi State University, Nigeria in 2005. Between November 2004 and February 2011 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. Since 2010 she has worked as a freelance screen writer for 'Nollywood', Nigeria.
Stella-maris Ewudolu

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