Malaysia Morning News For October 31

Malaysia Morning News For October 31

Malaysia morning newsMalaysia making progress to reduce debt : MARC
Malaysian Rating Corporation Bhd (MARC) does not expect Malaysia’s national budget to be balanced by 2020, based on the current trend.
— New Strait Times

Najib: Malaysia to consider FTA with US if TPPA fails to materilaise
Malaysia will consider a Free Trade Agreement (FTA) with the United States if the Trans-Pacific Partnership agreement fails to materilaise.
— Malay Mail Online

Malaysia bracing for EU ban on palm oil
The future of Malaysia’s palm oil industry is at stake as Members of the European Parliament (MEPs) gear up to ratify the proposed resolution to ban importation of palm oil into the European Union (EU) next month.
— Free Malaysia Today

Malaysia partners with global ecosystem partners to boost tech ambitions
The Malaysian government is bringing on three ecosystem partners to ramp up the growth of startups in the country, complementing the initiatives laid out by the Malaysia Digital Economy Corporation (MDEC) in April.
— e27

Malaysia allocates MYR50 million towards acquisition of coastal radars in 2018 budget
The Malaysian government will set aside MYR250 million (USD59 million) from its 2018 national budget to enhance security within the Eastern Sabah Security Zone (ESSZONE), the country’s Prime Minister Najib Razak announced via a parliamentary speech on 27 October.
— Jane’s 360

Malaysia Mulls Shutting Embassy in North Korea: PM
Malaysia may close its embassy in North Korea and move the mission’s duties to the Chinese capital amid regional security concerns over Pyongyang’s nuclear and ballistic missile testing program, Prime Minister Najib Razak told parliament on Monday.
— Radio Free Asia

E-commerce boom in Malaysia a bonus for logistics operators, but last-mile still a challenge
Contract logistics demand in Malaysia is on the rise thanks to e-commerce and pharmaceuticals growth.
— The Load Star

Govt to draft plan to compensate PLUS for toll abolishment
The Government will draft a plan to compensate PLUS Malaysia Bhd (PLUS) following abolishment of the Batu Tiga and Sungai Rasau toll plazas in Selangor, as announced by Prime Minister Datuk Seri Najib Tun Razak, when tabling the Budget 2018 last Friday.
— The Star Online

AirAsia, SATS in ground handling partnership deal
Singapore ground handling and inflight catering services provider SATS Ltd and AirAsia Bhd, Asia’s leading low-cost carrier, have formalised a ground handling partnership in the fast-growing Asean region.
— The Sun Daily

Malaysia sees La Nina pushing CPO prices above RM3,000/tonne
The local plantation industry is expecting crude palm oil (CPO) prices to cruise comfortably above RM3,000 per tonne if La Nina sets in, according to IOI Corp Bhd founder and executive chairman Tan Sri Lee Shin Cheng.
— The Star Online

Trading halt fuels talk of restructuring by tycoon
Two companies that are substantially owned by tycoon Tan Sri Lim Kang Hoo called for a trading halt yesterday, sparking speculation that the tycoon may be about to restructure his real estate holdings.
— The Edge Markets

First batch of Malaysian pineapples arrives in Shanghai by sea
The first 12 ton batch of Malaysian pineapples arrived in Shanghai by sea on 26 October. This was the first time that Malaysian pineapples have been imported to China in containers by sea.
— Fresh Plaza

Malaysia plans to begin durian exports 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.
— Fresh Plaza

Indonesia and Malaysia follow Singapore’s lead in tackling obesity
As concerns grow about rising obesity in Southeast Asia, Indonesia will introduce legislation next year aimed at reducing the content of sugar, salt and fat in food.
Nikkei Asian Review (paywall)

Malaysia wants illegal chicken farms and fertiliser manufacturers prosecuted
The Malaysian environment ministry on Monday (Oct 30) called for the full weight of the law to be brought to bear against operators of illegal chicken farms and fertiliser manufacturers that pollute water sources, after three water treatment plants in Johor was closed over the weekend due to ammonia pollution.
— Today Online

Malaysian palm oil price climbs to 1-1/2-month high
Malaysian palm oil futures rose on Monday to their strongest in a month and a half, tracking gains in rival edible oilseed soy on the Chicago Board of Trade (CBOT).
— The Star Online

M’sia sees biggest mobile data breach
The personal details of some 46.2 million mobile number subscribers in Malaysia are at stake in what is believed to be one of the largest data breaches ever seen in the country.
— The Star Online

Cheaper cross-border money transfers
MoneyMatch Sdn Bhd, a homegrown company approved by Bank Negara, has launched its “Transfer” portal, a fully digital cross border remittance service offering exchange rates and fees far cheaper than incumbent banks.
— The Star Online

Scoot launches inaugural Kuching-Singapore flight
Scoot, the low-cost arm of the Singapore Airlines Group, launched its inaugural flight from Singapore to Kuching, the first-ever destination in East Malaysia for the award-winning value airline on Sunday night.
— The Borneo Post

Quicken pace of fiscal deficit reduction when times are good: Experts
Malaysia should better prepare for any major external shocks by reducing its fiscal deficit at a faster pace in the good times, industry experts opine.
— The Sun Daily

Ringgit in focus as oil trades above US$60
The ringgit and Bursa Malaysia-listed oil and gas-related companies may be in focus after crude oil rose above US$60 a barrel.
— The Edge Markets

‘Employment Insurance System not sustainable at current deduction rate’
The Employment Insurance System (EIS), which provides a safety net for retrenched employees, may not be sustainable if the contribution rate remains at 0.4%, says the Social Security Organisation.
— 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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