Malaysia Morning News For September 29

Malaysia Morning News For September 29
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Malaysia morning newsUK-MALAYSIA TRADE GIVEN £2.75BN BOOST
The UK Prime Minister’s Trade Envoy to Malaysia has pledged an extra £2.75bn in support to boost trade between the country and the UK.
Insider Media Limited

TNB’s RM6bil Manjung 5 power plant switches on
Tenaga Nasional Bhd (TNB) has powered up its RM6bil coal-fired power plant, Manjung 5 at midnight earlier today, three days ahead of its targeted commercial operations date of Oct 1, 2017.
The Star Online

Malaysia inks EPWA to buy energy from Laos
Malaysia has sealed a Energy Purchase and Wheeling Agreement (EPWA) with Laos and Thailand for what is Asean’s first multilateral cross border trading project.
The Borneo Post

M’sian firm proposes to build rail line from Songkhla to Penang
A Malaysian company has proposed to build railway tracks linking the sea ports of Penang and Songkhla, said Thailand’s ambassador to Malaysia Damrong Kraikruan.
The Star Online

Tourism Malaysia: Malaysia received 1.8 million Thai tourists last year
About 1.8 million tourists from Thailand visited Malaysia last year, a growth of 32.5 per cent compared to the corresponding period in 2015, according to the Tourism Malaysia Thailand.
Malay Mail Online

Naza Italia invests RM2.8mil to open Ferrari City showroom
The sole official importer and distributor of Ferrari in Malaysia, Naza Italia Sdn Bhd, has invested RM2.8mil to develop a 3,115 sq ft second Ferrari City Showroom at Naza Platinum Park.
The Star Online

Digital tax raises concerns among Malaysian consumers
The Government’s plan to amend the taxation system to include digital tax is leaving Malaysian consumers concern about the issue of double taxation. This is because the prices of online products sold on e-commerce platforms such as Lazada, Shopee and 11Street have already included the goods and services tax (GST)
The Star Online

Malaysia Airports promotes cashless convenience with Alipay for Chinese tourists
The operator of Malaysian airports said Thursday that it will continue to promote cashless convenience by partnering Ant Financial Services Group’s Alipay.
China Daily

Malaysia Highlights Security Gaps in Interpol China Meeting
This week, in remarks on the sidelines of Interpol’s 86th General Assembly in Beijing, Malaysia’s Deputy Prime Minister Ahmad Zahid Hamidi, who headed the Malaysian delegation to the meeting, pointed out some steps that Asian states should take as they seek to address a range of security threats. Zahid’s remarks were a testament to the lingering challenges that remain despite some incremental progress witnessed in regional cooperation over the past few years.
The Diplomat

What’s Behind Malaysia’s New North Korea Travel Ban?
On Thursday, Malaysia announced that it had instituted a travel ban on citizens to North Korea in the wake of escalating tensions. Though the move, which was far from surprising, immediately led to a flood of headlines, it needs to be understood within the broader context of Malaysia’s ties with North Korea and ongoing developments affecting both sides.
The Diplomat

Malaysian airports not affected by global check-in system crash
Malaysian airports are not affected by the crashed check-in system that is causing major disruption in airports around the world.
The Star Online

Saudi Arabia to provide immigration pre-clearance for Malaysian pilgrims at KLIA
Malaysian pilgrims will enjoy the Saudi Arabia Immigration pre-clearance facility at the Kuala Lumpur International Airport (KLIA) in future, following the suggestion from the country to make Malaysia among the first to implement the pre-departure programme at the origin country.
Malay Mail Online

Malaysia, Indonesia to boost border patrols to curb militancy
Malaysia and Indonesia would be adding five more joint command posts along the borders of Sabah, Sarawak and Kalimantan to curb any possible militant movement in the region.
The Star Online

Malaysia cuts 2020 timber exports target amid headwinds
The Malaysian Timber Council (MTC) has cut its 2020 timber exports target of RM53 billion — first set in 2009 by the government — down by between 43% and 53% to RM25 billion to RM30 billion, amid headwinds in the industry.
The Edge Markets

Ringgit rebounds against US$
The ringgit snapped its three-day losing streaks to be higher against the US dollar early Thursday on renewed buying interest in the local unit amid the stronger greenback globally, dealers said.
The Star Online

Gamuda Q4 net profit down on provision for impairment on Smart’s expressway
Gamuda Bhd’s net profit for the fourth quarter ended July 31, 2017 fell 32.44% to RM102.75 million from RM152.10 million a year ago due to a one-off provision for impairment on Smart’s expressway.
The Sun Daily

Bank Negara to implement NSFR no earlier than Jan 1, 2019
Bank Negara Malaysia (BNM) plans to implement the net stable funding ratio (NSFR) – a requirement to promote a more resilient banking sector – for banks no earlier than Jan 1, 2019.
The Star Online

Banks face new funding rules
The implementation of Bank Negara’s new liquidity requirements called the net stable funding ratio (NSFR) beyond Jan 1, 2019 could potentially lead to higher funding costs, lower margins and higher lending rates.
The Star Online

Eco Horizon, Penang set for inaugural launch this weekend
Eco World Development Group Bhd (EcoWorld) will be launching the first phase of landed homes in its Eco Horizon township in Batu Kawan, Penang this weekend.
The Edge Markets

AmProp plans to raise up to RM597m via rights issue
Amcorp Properties Bhd (AmProp) plans to raise up to RM597.2 million by issuing renounceable rights of new Class B redeemable convertible preference shares (RCPS B) to shareholders to fund existing and future projects and repay borrowings.
The Edge Markets

The Agro Job Fair in Malaysia to offer over 3,000 job vacancies
Bernama has reported that the Agro Job Fair will be offering over 3,000 vacancies in agriculture and agro-based industries. The fair is held at the Malaysia Agro Exposition Park Serdang (MAEPS) in conjunction with the Malaysia Agriculture, Horticulture and Agrotourism (MAHA) 2017 exhibition from 28 September until 1 October.
Human Resource Online

Intruder on tracks shuts down MRT line for 80 minutes
An intruder who got onto the tracks of the Sungai Buloh-Kajang MRT line near Kwasa Damansara here this evening, caused a partial shutdown of services.
Free Malaysia Today

Promoters of pop concerts, other events may ditch Malaysia as hard-line Islam gets a grip
Organizers of pop concerts and some other big events are increasingly wary of including Malaysia on their itineraries, as the cancellation of a beer festival due to take place next month highlighted growing intolerance toward activities regarded as insulting to Islam by some Muslim groups.
Reuters

 

Feature photo Sitoo
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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