Malaysia Morning News For October 30

Malaysia Morning News For October 30

Malaysia morning newsEconomist calls for rebalancing of expenditures in Budget 2018
The executive director of the Socio-Economic Research Centre has urged the government to tackle the apparent imbalance between the country’s operating and development expenditures in Budget 2018.
— Free Malaysia Today

Foreign Affairs Ministry confirms detention of Malaysian journalist in Myanmar
The Foreign Affairs Ministry confirms that a Malaysian journalist employed by Turkish Radio and Television (TRT) was detained by Myanmar authority on Friday (Oct 27) for allegedly video recording the Hluttaw building (House of Representative) in Nay Pyi Taw, Myanmar using a drone without prior authorisation.
—  Malay Mail Online

Budget 2018 aims to enhance wellbeing and fortify Digital Malaysia
“WE ARE delighted that Budget 2018 is focused on accelerating growth and enhancing the wellbeing of the rakyat as well as in further enhancing Digital Malaysia.
— Digital News Asia

Malaysia’s biggest grocery mart set to open next year
SP SETIA Bhd will unveil the biggest urban grocery market in Malaysia at the Kuala Lumpur Eco City (KLEC) Mall in the first quarter of next year.
— The Star Online

Malaysia to expand export of ‘Musang king’ durian to China
The Ministry of Agriculture and Agro-Based Industry is planning to penetrate the Chinese market by exporting fresh ‘Musang King’ durians to China in the near future.
— Channel News Asia

5 Giant supermarkets to close shop
FIVE Giant supermarkets will shut their doors on November 5, following a decision not to extend their leasing contracts, as the retail industry continues to struggle with sluggish sales.
— The Malaysian Insight

Tech M’sia lauds initiatives for digital economy
Malaysian tech experts laud the government’s allocations and initiatives to boost the nation’s digital economy.
— The Borneo Post

China’s high-profile envoy ends Malaysia stint
China’s outgoing ambassador to Malaysia Huang Huikang meeting Malaysian Prime Minister Najib Razak on Oct 13, during his farewell visit.
The Straits Times (paywall)

Upcoming tax exemptions and incentives in 2018
Last week, Prime Minister Datuk Najib Tun Razak announced the Budget 2018, with initiatives that deal with the well-being of the rakyat while addressing wide-ranging issues, from the rising cost of living, to shaping the workforce of the future.
— The Borneo Post

Malaysian sand arrives in India despite environmental worries
The first-ever shipment of Malaysian sand to the state of Tamil Nadu in India has arrived at its port in Thoothukudi despite criticism by environmentalists about the impact mass sand dredging would have on the natural conditions in Malaysia.
— Free Malaysia Today

EY Malaysia: Budget 2018 promises positive outlook
The 2018 Budget promises a positive outlook and inspires investor confidence in the nation, EY Malaysia opines.
— The Borneo Post

Higher allocation for budget 2018 helps make Malaysia more resilient, competitive – 3M
The total allocation of RM280.25 billion in the 2018 Budget, which increased from last year’s RM260.8 billion, is a progressive step towards enabling Malaysia to become more resilient and competitive, said 3M Malaysia Sdn Bhd.
— New Straits Times

Players laud RM1bil allocation for tech startups
The RM1bil allocation for startups under Budget 2018 will be provided by large government linked investment funds such as the Employees Provident Fund and the Retirement Fund Inc to venture capitalists on a matching basis.
— The Star Online

Budget opens up tourism opportunities – Matta
Malaysian Association of Tour and Travel Agents (Matta) president Datuk Tan Kok Liang is urging local tourism players to make full use of the allocations provided for in Budget 2018 to raise Sabah’s economy in general, and tourism in particular, to greater heights.
— The Borneo Post

‘Expiry date policy’ proposal for vehicles in Malaysia needs careful studying
Road safety experts welcomed the idea of a commercial vehicle-expiry policy as suggested by the Transport Ministry but said more studies need to be conducted before it could be implemented.
— New Straits Times

Chambers: SMEs should leverage on incentives
Small and medium enterprises (SMEs) should take advantage of several incentives offered by the government in Budget 2018, through various schemes, loans and grants to grow and expand their businesses, business chambers said.
— The Sun Daily

Quality Group launches operations in Malaysia
Qatar-headquartered Quality Group International has announced its first business venture in East Asia based out of Malaysia.
— The Peninsula

Tax perks a mix of old and new for corporate Malaysia
Budget 2018, was a mix of old and new incentives, with no real significant measures that impact corporates directly.
— The Sun Daily

Economist calls for new measures to strengthen ringgit
A more concerted effort alongside new measures are needed to strengthen the ringgit, as the weaker local note will lead to higher inflation, said independent economist, Dr Suresh Kumar.
— The Sun Daily

E-wallets set to redefine payment system in country
THE entry of global electronic wallet (e-wallet) providers is expected to transform the payment system landscape in Malaysia.
— The Star Online

Mixed views on extension of Special PR1MA End Financing scheme to private housing developers
Real estate companies are positive on the move to extend step-up financing to private developments, while the House Buyers Association (HBA) is warning that it could lead to a further increase in prices.
— The Sun Daily

Malaysia must emulate South Korea in marketing its own culture
Malaysia should emulate the success of South Korea in capitalising on its culture to stimulate economic growth for the nation.
— New Straits Times

Sixth Malaysian nabbed in Thai ‘Macau scam’
A 19-year-old Malaysian man became the latest suspect arrested by Thai police in their investigations into a ‘Macau Scam’ syndicate headed by a Taiwanese gangster.
— The Star Online

Body of Malaysian climber found in Iran after 1 year
The body of a Malaysian climber has been found one year after he went missing while ascending Damavand Peak in northern Iran, according to Iranian news agency IRNA.
— Free Malaysia Today

Feature photo World Bank Photo Collection/Nafise Motlaq
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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