Malaysia morning news for August 1

Malaysia morning news for August 1

Malaysia morning newsGovernment should be clear on plans for auto industry
The government should be clear on its plans for automotive policy and steer away from any direct involvement in the automotive market, said IDEAS economist Adli Amirullah.
— New Straits Times

Malaysia’s Aviation Chief Quits After MH370 Report Exposes Shortcomings
The head of Malaysia’s civil aviation regulator has resigned after an official report found failings in air traffic control when flight MH370 disappeared.
— Investvine

Malaysia Suspects Chinese Cash Paid Troubled Fund’s Debt
Officials here are investigating whether the government of former Prime Minister Najib Razak used funds from a China-backed infrastructure program to help pay debts owed by the state investment fund at the center of one of the world’s biggest graft probes.
— Wall Street Journal

Petronas launches new vendor devt scheme with 18 partners
Petroliam Nasional Bhd has launched a new vendor development scheme to nurture local entrepreneurs to overcome high-entry barriers to the oil and gas industry and create a pool of vendors who can generate value.
— The Star Online

Malaysia to continue diplomacy over disputed sea
MALAYSIA will continue diplomacy and dialogue with the United States and China over their military presence in the South China Sea, says Defence Minister Mohamad Sabu.
— The Star Online

Establish specific mission in EU for palm oil industry
In strengthening various engagements between Malaysia and the European Union (EU), specifically in seeking a better solution to the much-discussed palm oil industry, it is imperative that a specific mission to the EU be established to help solve numerous challenges facing Malaysia’s palm oil industry.
— The Borneo Post

70k-80k companies expected to register under SST
The Customs Department expects between 70,000 and 80,000 local companies to register under the impending Sales and Services Tax (SST).
— New Straits Times

Malaysia Approves a Singapore Rail Link, For Now
Malaysia’s new government has called into question the future of multibillion-dollar rail projects since Mahathir Mohamad took power in May.
— Bloomberg

Adopt ‘No Malaysian left behind’ approach in development, govt urged
Two groups suggest that the PH government hold public town hall discussions on the 11th Malaysia Plan review so as to be inclusive and ensure that no Malaysian is left behind in the development process.
— FMT

No plans for Go-Jek ride-hailing in Malaysia, accident rate among bikers too high, says Loke
There are no plans to introduce motorcycle ride-hailing services in the country, said Transport Minister Anthony Loke Siew Fook.
— The Star Online

Vietnam, Malaysia enjoy thriving relations
The Vietnam-Malaysia relations have been consolidated and developed across the fields of politics-diplomacy, defence-security, economy, and cultural exchange over the past 45 years, according to Vietnamese Ambassador to Malaysia Le Quy Quynh.
— Nhan Dan Online

No import declaration made on jewellery sent to Rosmah
Finance Minister Lim Guan Eng says this is an offence under the Customs Act 1967 and the items could be seized.
— FMT

EPIC secured RM500m mega project
Eastern Pacific Industrial Corp Bhd (EPIC), via subsidiary EPIC EOG Sdn Bhd, has bagged a RM500 million contract from a leading oil and gas producer to undertake structural maintenance work for offshore topside in Terengganu.
— New Straits Times

China, Malaysia willing to deepen friendly cooperation
China is willing to maintain friendly policies towards Malaysia to deepen cooperation and benefit people of both countries, said visiting Chinese State Councilor and Foreign Minister Wang Yi here on Tuesday when meeting with his Malaysian counterpart Saifuddin Abdullah.
— Xinhua

Malaysia Extends Bauxite Mining Moratorium Until Year-End
The Malaysian government said it has prolonged its 2016 moratorium on bauxite mining until year-end as large stockpiles of the aluminum-making raw material remain uncleared.
— Jakarta Globe

Equal opportunities for businesses under new government: AmBank CEO
AmBank Group believes that it is equal opportunity for all now that Pakatan Harapan has been voted in.
— New Straits Times

Mahathir’s new Malay dilemma: tackle poverty among the majority without excluding others, particularly the Chinese
Thirty-eight years after his book diagnosing the problems ethnic Malays faced, Mahathir Mohamad is once again leading a country where Malays are still mostly poor, despite a decades-old economic policy that has favoured them and angered other groups
— South China Morning Post

Lotte Chemical Titan’s Q2 net profit nearly triples
Lotte Chemical Titan Holding Bhd’s prospects look to be brighter after a series of unfortunate events, with its net profit nearly tripling to RM315.03 million in the second quarter ended June 30 (Q2 2018), from RM113.62 million in the previous corresponding quarter.
— The Sun Daily

Opcom bags RM11.16mil Unifi contract
Opcom Holdings Bhd (Opcom), led chairman and CEO Tan Sri Mokhzani Mahathir, said a subsidiary Opcom Cables Sdn Bhd was awarded RM11.16mil contract from Telekom Malaysia Bhd .
— The Star Online

Public Mutual declares RM233m distributions for 10 funds
Public Mutual has declared distributions of more than RM233mil for 10 of its funds for the financial year ended July 31, 2018.
— The Star Online

Financial markets face continued non-resident outflows in June — BNM
The domestic financial markets in June continued to experience non-resident outflows amid renewed trade war concerns and expectations of a faster pace of US monetary policy normalisation, Bank Negara Malaysia (BNM) said.
— The Borneo Post

Fake halal food in Malaysia: Factories accused of packing products originating from China and India
Factories in Malaysia were found to be producing food products with fake halal logos.
— Food Navigator

AMMB wants more clarity from new govt
AMMB Holdings Bhd, which is positive of a better performance in the financial year ending March 31, 2019 (FY19) compared with FY18, has emphasised that it is not a government-linked company (GLC) and wants more clarity on the direction of the new Pakatan Harapan-led government.
— The Sun Daily

Video clip of Malaysian fire victims throwing donated clothes upsets many
A short video clip showing groups of rowdy people believed to be fire victims from Likas throwing donated clothes is making netizens upset.
— AsiaOne

 

Feature photo Craig Morey

 

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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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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