Malaysia Morning News For May 16

JJPTR founder in jail, might not make company dinner Saturday
JJPTR founder Johnson Lee may not be able to make that company dinner this Saturday at Berjaya Times Square. He and two close associates were arrested early this morning at 4:30am in Petaling Jaya. The arrests come off the heels of police reports being lodged by Investigating Officers.
– Coconuts KL

Mega rail projects on the cards for construction sector
We have identified four mega rail projects that will be rolled out over the next two to three years. These include the East Coast Rail Link (ECRL), Kuala Lumpur-Singapore High-Speed Rail (HSR), Gemas-Johor Baru electrified double-tracking (EDT) project and mass rapid transit 3 (MRT3) Circle Line. Collectively, these mega rail projects will have a total cost of RM171 billion.
– The Edge Markets

Malaysia faces the threat of ‘unwanted tourists’
Malaysia has been made the “unwitting” receiver of foreign fighters who were stopped from entering Syria to fight alongside the Islamic State.
– Today

Rising demand forces Malaysia Airlines to lease planes
With passenger confidence returning, Malaysia Airlines Bhd now finds itself unable to cope due to a lack of aircraft.
– FMT

Investors’ confidence in Malaysia higher than expected, says ACCCIM
The signing of several memorandums of understanding between Malaysian and Chinese companies in Beijing on Sunday, with proposed investments of about RM31.3 billion, indicates that investors are confident about Malaysia, according to the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).
– The Edge Markets

Malaysia: Tenaga buys 50% in UK solar power asset for $607m
Malaysian state-owned power company Tenaga Nasional Bhd (TNB) has acquired a 50 per cent stake in Britain’s 365 MW solar power asset from a subsidiary of Terraform Power Inc for $607.6 million (GBP 470 million).
– Deal Street Asia

Malaysia’s Customs Dept wages all-out war against illicit trade
Malaysia’s Customs Department has declared an all-out war against illicit cigarette trade in its bid to eliminate the smuggling racket that has cost the government RM4.4 billion (S$1.42 billion) in revenue.
– Today

Ekovest in spotlight on IWCity cue
Ekovest Bhd fell as much as five sen or 4% on profit taking today after the construction and property group’s shares rose yesterday on bargain hunting.
– The Edge Markets

Hong Kong’s MTR Corp eyes KL-Singapore high-speed rail
Hong Kong’s rail operator MTR Corporation is expected to propel a new bid from China for the lucrative Kuala Lumpur-Singapore High Speed Rail (HSR) project.
– FMT

Najib: China offers huge opportunities for our businessmen
China has opened huge opportunities for Malaysian businessmen who want to foster economic cooperation for mutual benefit, said Prime Minister Najib Razak.
– FMT

Northport sets up sister port relationship with China’s Weifang Port
Northport (Malaysia) Bhd, an indirect wholly-owned subsidiary of MMC Corp Bhd, has signed a memorandum of understanding (MoU) with Weifang Sime Darby Port Co Ltd, a China-based subsidiary of Sime Darby Bhd, to establish a sister port relationship.
– The Edge Markets

Endangered animals were smuggled on board a UAE-based flight
Malaysian custom officials have foiled an attempt to smuggle hundreds of the world’s most endangered tortoises into the country from Madagascar, according to international media reports.
– Gulf News

Weak US dollar boosts sentiment for ringgit
The ringgit traded higher against the US dollar this morning as the weakening greenback lifted demand for commodity-linked and emerging currencies, dealers said.
– FMT

SC revokes undischarged bankrupts’ licences
The Securities Commission Malaysia (SC) has revoked three undischarged bankrupts’ Capital Markets Services Representative’s Licences (CMSRLs) due to their financial status.
– The Edge Markets

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Malaysia morning news is published M-F by AEC News Today: Governance, not government; policies not politics.

Malaysia Morning News For May 16 added by John Le Fevre on May 16, 2017
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.