Malaysia Morning News For August 9

Malaysia Morning News For August 9

Malaysia morning newsMalaysia launches inquiry over forex losses under Mahathir
Malaysia’s government on Tuesday launched an inquiry into massive foreign exchange losses by the central bank more than two decades ago, in a probe that could lead to criminal prosecution for former Prime Minister Mahathir Mohamad.
NZ Herald

Long way to go for Malaysia in nuclear technology
Malaysia has a long way to go before the country can develop its own nuclear technology.
The Borneo Post 

Retool education, skills to adapt to knowledge economy, Malaysia urged
Malaysia needs to reinvent its education system to adapt to the knowledge economy, which has led to a sharp reduction in unskilled jobs and spike in demand for data analysts.
The Sun Daily 

Construction industry on track to achieve 50% IBS adoption by 2018
The Malaysian construction industry is on track to achieve the target of 50% Industrialised Building System (IBS) adoption in projects by 2018, said IJM Corp Bhd CEO and managing director Datuk Soam Heng Choon.
The Sun Daily 

1MDB gets payment extension; DAP prods MACC to probe Zahid’s wealth
The International Petroleum Investment Company (IPIC) extended the payment deadline for 1MDB until the end of this month after 1MDB could not come up with the US$603 million debt that was due to be paid by yesterday.

iflix Completes US$144m Funding Exercise
iflix, a leading subscription video on demand service for emerging markets, has completed a US$133 million (US$1=RM4.28) funding round, as it aspired to continue in delivering its vision of bringing the world’s best entertainment to its audiences.
Malaysian Digest 

Indonesia rejects Malaysia`s PSSA requests on Kukup, Piai
Indonesia has rejected Malaysias proposal on the Particularly Sensitive Sea Area (PSSA) in Kukup Island and Piai Bay, as the two countries have yet to reach an agreement on settling their borders.

Hong Kong’s NewOcean to build RM5.1 billion oil refinery in Malaysia
Hong Kong’s NewOcean Energy Holdings Limited said on Monday it planned to build a RM5.1 billion petroleum refinery complex on Malaysia’s east coast along with two partners.
The Borneo Post 

Why Malaysia’s Readying for a Lower-Energy Future: QuickTake Q&A
Malaysia is the world’s third-largest exporter of liquefied natural gas and the only net exporter of energy among Asia’s major economies. So it stands to reason that energy prices and output levels hold great sway over the economy, and Malaysia’s currency. Unfortunately for the Southeast Asian nation, oil prices have tumbled and domestic production is close to peaking.

Foreign worker permit among NCCIM’s Budget wishlist
Reassessing the Employer Mandatory Commitment (EMC) and foreign worker permit issues are among the National Chamber of Commerce and Industry of Malaysia’s (NCCIM) wishlist for the upcoming 2018 Budget.
The Borneo Post 

CIMB’s new Biz123 provides simple ‘one-stop’ banking and solutions platform for businesses
CIMB Bank (M) Berhad (CIMB) on Monday launched Biz123, a holistic one-stop platform that offers a complete range of solutions for businesses, from sole proprietorships and enterprises to SMEs.
The Borneo Post 

Najib: Being innovative, entrepreneurial is key to Malaysia’s future
Malaysia sustainable and inclusive future will depend not only on good economic policies and decision making process, but also involves integrating new technologies, while being an innovative and entrepreneurial society, including in the eCommerce space.
The Borneo Post 

Tien Wah makes a loss for first time in 15 years due to plant closure cost
Tien Wah Press Holdings Bhd (TWPH) reported a loss attributable to shareholders of RM14.45mil for the second quarter (Q2) ended June 30, 2017 – its first quarterly loss in 15 years.
The Star Online 

Najib pledges to do his best
Datuk Seri Najib Tun Razak has promised to do his best for the nation even though he could not meet everyone who saw him to give their feedback on Budget 2018.
The Star Online

RM7.8m money laundering: Three company directors charged
Three company directors were charged in the Sessions Court here today, with money laundering amounting to RM7.8 million since 2011.
The Sun Daily 

Environmentalist questions impact of Malaysia-India sand deals
An environmentalist has questioned the impact of reported deals between Malaysian firms and two states in India regarding the import of river sand for construction activities.
Free Malaysia Today 

Naza Hands Over MITEC To Govt
Naza Corporation Holdings Sdn Bhd (Naza Group), Malaysia’s largest bumiputera conglomerate, has officially handed over the RM628 million Malaysia International Trade and Exhibition Centre (MITEC) to the government.
Malaysian Digest 

Minetec Unit Bags MRT Line 2 Sub-Contract Job Worth RM16.28 Mln
Minetech Resources Bhd’s (Minetec) wholly-owned subsidiary, Minetech Construction Sdn Bhd (MCSB), has accepted the Letter of Acceptance from CHEC Construction (M) Sdn Bhd, appointing MCSB as a sub-contractor for the Mass Rapid Transit Line 2: Sungai Buloh-Serdang-Putrajaya project valued at RM16.28 million.
Malaysian Digest 

Enhance use of online technology, services to curb corruption – Ahmad Zahid
Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi wants the Malaysian Immigration Department (JIM) to enhance the use of online technology and services to counter corruption.
Astro Awani 

ASEAN centrality among points stressed by Malaysia in Manila
ASEAN centrality among others, was among the points stressed by Malaysia during the 50th ASEAN Foreign Ministers’ Meeting in Manila on Monday.
Astro Awani 

Xidelang set to get RMB210 million shoe orders
Xidelang Holdings Ltd’s wholly-owned subsidiary, HongPeng Fujian Shoes & Garments Co Ltd has entered into memorandum of understanding (MOU) with Yeli International Ltd.
New Straits Times

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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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.

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