Malaysia Morning News For August 23

Malaysia to shelve projects worth US$22 billion
Malaysia will shelve three China-backed projects worth a total of US$22 billion until the debt-laden Southeast Asian nation can afford to pay for them, Prime Minister Mahathir Mohamad said Tuesday during a visit to Beijing.
— The Asean Post

Cancellation of ECRL was necessary, says economist
The cancellation of the East Coast Rail Link (ECRL) project was a necessary move as Malaysia “cannot afford it” at the moment, said independent macro analyst Prof Dr Hoo Ke Ping.
— The Star Online

Tea traders likely to absorb slight cost hike from SST
Tea traders expects slight increase in cost as the incoming Sales and Services Tax would be imposed on print and packaging materials.
— New Straits Times

Contaminated milk powder not sold in Malaysia, says health DG
Dr Noor Hisham Abdullah says the Dumex Mamil Gold-Step 1 formula was produced in Malaysia for export to Singapore.
— FMT

Alibaba Cloud shaping the future of Asia Pacific’s digital era
Alibaba Cloud, the cloud computing arm of China’s e-commerce powerhouse, Alibaba Group, is shaping the future of Malaysia and the Asia Pacific in transforming industries and cities towards a new digital era.
— The Borneo Post

Thais seize RM185 mil meth bound for Malaysia
Thai police have seized more than 14 million methamphetamine pills worth 1.48 billion baht (RM185 million) bound for neighbouring Malaysia and beyond, authorities said on Tuesday, in one of its biggest ever drug busts.
— FMT

BHIC’s Q2 profits fell 70pc to RM7m, on lower jobs
Boustead Heavy Industries Corp Bhd’s (BHIC) second quarter net profits ended June 2018 dropped 69.85 per cent to RM7.22 million compared with RM23.94 million, a year ago.
— New Straits Times

Australian mining company facing nuclear waste investigation in Malaysia
Malaysia’s new government is set to scrutinise Lynas Corporation’s rare earths processing plant on its east coast, as the region cracks-down on e-waste.
— SBS News

Malaysia accused of ‘state-sponsored homophobia’ after LGBT crackdown
In the early hours of Saturday, the police and government officials raided a small nightclub in Kuala Lumpur.
— The Guardian

Going digital – rural SMEs face funding, knowledge, manpower issues
Funding, digitalisation knowledge, manpower shortage and insufficient product variety are among the challenges faced by Malaysian small and medium enterprises (SMEs) in embracing digitalisation, says the SME Association of Malaysia.
— The Sun Daily

VTech Completes Acquisition of Pioneer Corporation’s Manufacturing Facility in Malaysia
VTech Holdings Limited (HKSE: 303) announced today it has completed its acquisition of a manufacturing facility in Malaysia owned by Pioneer Technology (Malaysia) Sdn. Bhd., a subsidiary of Pioneer Corporation.
— AEC News Today/ PR Newswire (media release)

Singapore seeks UNESCO status for hawker centers – Malaysians not amused
Singapore Prime Minister Lee Hsien Loong in his speech at the republic’s National Day Rally on August 19 said that the city state will be nominating its rich hawker culture for UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity.
— Investvine

25,000 to visit Selangor International Business Summit
Some 25,000 visitors are expected to gather at the 10-day Selangor International Business Summit (SIBS) 2018 next month, the biggest state event ever organised.
— New Straits Times

Max Capital Management Holding Ltd (MCM) Enters Into Student Accomodation Management Agreement with HELP University Malaysia
Max Capital Management (MCM) and HELP University signed an agreement to mutually cooperate on providing HELP University’s student with accommodation during a special signing ceremony today.
— AEC News Today/ PR Newswire (media release)

Controversy over Menara UOA Bangsar
A unique situation has risen over the management of Menara UOA Bangsar, one of five commercial office blocks under UOA REIT, which comes under the UOA Group.
— The Star Online

Providing fair and accurate news in New Malaysia
The dinner last week to mark 100 days of the new government did not go unnoticed at the neighbourhood Chinese restaurant. Although in a room, the stalwarts were in their element – emphasising (stridently) and accentuating that they had made the right decision.
— Malaysia Kini

Plans to enhance broadband lends optimism to telco industry
Analysts believe the outlook for telecommunications are improving as broadband connectivity has been in the limelight with the authority planning to widen the coverage through the implementation of the National Connectivity Plan via a combination of fibre-optic and wireless connectivity.
— The Borneo Post

5v5 Esports brings a strong Malaysian Esports team to reclaim their worth in the international tournament against China in the 2018 national Esports tournament
August 6th, was a sad day for Malaysia but it wasn’t the end of the world. The one thing that makes the Malaysian Esports players one of the top-notch game players in the world is their ability to soldier on.
— AEC News Today/ PR Newswire (media release)

Here’s how we can produce thinking and professional grads
The Malaysian Qualifications Agency (MQA) must be overhauled and the people in charge must not think that the curriculum is the Word of God.
— FMT

ZEN Rooms eyes expansion into Sarawak
Regional budget hotel chain online booking platform ZEN Rooms is looking to expand into Miri and Kuching before this year concludes, as part of its growth plan to expand into new cities and upgrade works.
— The Borneo Post

Asian Games: Malaysia ends gold medal drought on fourth day
Malaysia ended their gold medal drought on the fourth day of the 2018 Jakarta-Palembang Asian Games when the bowling women’s trio clinched the elusive medal yesterday.
— The Edge Markets

New BIM model to modernise construction sector
The construction industry is moving away from the time old 2D AutoCAD design programmes to the newer 3D Building Information Modelling (BIM) system that is expected to help modernise and upgrade the local construction industry.
— The Borneo Post

IHH Healthcare likely to exit maiden investment in India: Report
The Economic Times of India reported late on Tuesday that Malaysia’s IHH Healthcare Bhd, which recently succeeded in its bid for the much coveted Fortis Healthcare Ltd for 40 billion rupees (RM2.35 billion), is likely to exit its maiden investment in India, Kolkata’s Apollo Gleneagles Hospitals.
— The Sun Daily

Air Selangor cuts bulk water supply rate in offers to Gamuda, Taliworks
Gamuda Bhd and Taliworks Corp Bhd have been informed by Air Selangor of a cut in the bulk water supply rate for the third phase and first phase of the Sungai Selangor Water Treatment Plant (SSP) by 2 sen/m3 and 5 sen/m3, respectively.
— The Sun Daily

Pelaburan Hartanah, Maybank Asset Management encourages AHB investments with prize draw
Pelaburan Hartanah Berhad (PHB) and Maybank Asset Management Sdn Bhd (MAM) announced another initiative to promote and increase investment in Amanah Hartanah Bumiputera (AHB) scheme with the launch of “Simpan, Labur dan Menang” prize draw with customers standing a chance to win AHB units worth RM400,000 in overall prize.
— The Borneo Post

HeiTech looking to rightsize ops
IT services management company HeiTech Padu Bhd is looking at rightsizing its operations to streamline its business amid the challenging environment, says chairman Datuk Seri Mohd Hilmey Mohd Taib.
— The Sun Daily

Bike-sharing firm ofo ceases operations in Malaysia after one year
Ofo has ceased operations in Malaysia, more than a year after the bike-sharing service expanded into Melaka in 2017.
— The Straits Times

Feature photo David McAughtry

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.