Malaysia Morning News For August 15

AirAsia sells online travel agency stake for RM240mil
AirAsia Bhd is selling its entire 25% stake in online travel agency AAE Travel Pte Ltd to joint-venture (JV) partner Expedia Southeast Asia Pte Ltd for RM240mil cash.
— The Star Online

Malaysian women to be caned for ‘attempting lesbian sex’
Two Malaysian women convicted for attempting to have lesbian sex will be fined and caned, a prosecutor said on Tuesday, in a rare case against gay people in the Muslim-majority country.
— Bangkok Post

Billions hinge on Malaysia Mahathir’s bid to woo project concessions from China
Malaysian Prime Minister Mahathir Mohamad arrives in China on Friday seeking to renegotiate, and perhaps cancel, billions of dollars worth of Chinese-invested projects entangled in domestic graft probes.
— Channel NewsAsia

Singapore-Malaysia talks on high-speed rail to continue in coming weeks: MOT
Discussions on the high-speed rail (HSR) project between Singapore and Malaysia will continue “in the coming weeks”, after Transport Minister Khaw Boon Wan met Malaysia’s Economic Affairs Minister Mohamed Azmin Ali last weekend.
— TodayOnline

Inflight Wi-Fi is a key driver for airlines in Asia Pacific
Inflight Wi-Fi is a key driver in forming customer loyalty and satisfaction among today’s airline passengers in Asia Pacific, according to the global mobile satellite communications provider Inmarsat and market research company Populus.
— New Straits Times

Malaysian cops police their English amid PM Mahathir’s push for civil servants to master the language
The police in Malaysia are aiming to put a full stop to the “moderate at best” English in the force.
— The Straits Times

1MDB-linked aircraft parked at Seletar Airport, no formal request from Malaysia seeking return: Police
An aircraft that is the subject of ongoing investigations related to 1Malaysia Development Berhad (1MDB) is parked at Seletar Airport, the Singapore police said on Tuesday (Aug 14).
— Channel NewsAsia

Govt should focus on restoring investor confidence: MIER
The government should focus on restoring investors’ confidence in Malaysia, as part of its effort to fulfil manifesto’s pledges.
— New Straits Times

Dr Mahathir: No return to absolute monarchy
There are no plans to return power to the King to reject laws passed by Parliament, says Prime Minister Tun Dr Mahathir Mohamad.
— Asia One

Malaysia to alter ‘hideous’ tourism logo featuring ape in shades
Malaysia’s new government will change an official tourism logo featuring an orangutan wearing sunglasses after it sparked a storm of mockery, a minister said Tuesday (Aug 14).
— Channel NewsAsia

Fitch affirms A- rating for Malaysia, estimates Govt debt at 65% of GDP
Fitch Ratings has affirmed Malaysia’s long-term foreign-currency issuer default rating (IDR) at ‘A-‘ with a stable outlook supported by solid economic growth and a net external creditor position built up from a record of current account surpluses.
— The Star Online

1Mine urges govt to postpone SST implementation
The government has been urged to postpone implementation of the Sales and Services Tax (SST) come Sept 1 until a directive on the newly passed tax law is clearly outlined.
— New Straits Times

SSM to offer 50 to 80 pct discount on compounds imposed
The Companies Commission of Malaysia (SSM) will offer discounts of between 50 per cent and 80 per cent, from September 1 to December 30, 2018, to companies with outstanding compounds.
— The Borneo Post

Malaysia readies to cushion its trade impact of Turkey’s financial crisis
Ministry of International Trade and Industry (MITI) cautioned that recent financial crisis in Turkey will have some effects to Malaysia’s trade with the country.
— New Straits Times

HSL wins Petronas MRSM contract in Bintulu, order book reaches new record
Hock Seng Lee Bhd (HSL) yesterday announced it had received a Letter of Acceptance for a new MARA Junior Science College campus contract in Bintulu.
— The Borneo Post

Aabar puts 120 million shares in RHB Bank on the block
Aabar Investments PJS is seeking to reduce its stake in RHB Bank Bhd.
— The Star Online

RAM Ratings places Sarawak Energy’s issue rating on positive outlook
RAM Ratings has revised its ratings on Sarawak Energy Bhd (Sarawak Energy) to positive from stable the outlook on the AA1 rating RM15 billion Sukuk Musyarakah Programme (2011/2036).
— The Borneo Post

BMW launches new i8 Coupe, priced from RM1.32m
BMW Group Malaysia, the official distributor of BMW and MINI cars in the country, has launched the new BMW i8 Coupé at a price of RM1.32 million excluding insurance during the tax free period.
— New Straits Times

AirAsia strengthens Kota Kinabalu hub with new direct route to Macao
AirAsia further strengthened Kota Kinabalu hub with the launch of a new direct route to Macao, China.
— The Borneo Post

TH Plantations puts CEO Zainal Azwar on garden leave
TH Plantations Bhd said its CEO and executive director Datuk Seri Zainal Azwar Zainal Aminuddin was put on garden leave by its board of directors from Aug 14 until further notice.
— The Star Online

Nestle’s Q2 earnings driven by higher margin
Nestle (Malaysia) Bhd’s net profit for the second quarter ended June 30 rose 2.93% to RM166.16 million from RM161.44 million a year ago due to higher margin.
— The Sun Daily

A & W Malaysia to open 12 outlets by 2019
Fast food chain A&W (Malaysia) Sdn Bhd intends to strengthen its position in the local food and beverage (F&B) segment by opening 10 to 12 new outlets by 2019.
— New Straits Times

KL Kepong net profit jumps 25.9% in third quarter
Kuala Lumpur Kepong Bhd’s (KLK) net profit jumped 25.9% to RM141.9 million in the third quarter (Q3) ended June 30 from RM112.8 million in the previous corresponding quarter on higher operating income.
— The Sun Daily

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