Malaysia morning news for August 27

Malaysia morning news for August 27

Malaysia morning newsGovernment to review several subsidy systems
The government is expected to review several subsidy systems by next year, says Maybank Investment Bank Bhd (Maybank IB) Group chief economist Suhaimi Ilias.
— The Borneo Post

Cyberattack on Malaysia: Imminent or imagined?
Cybersecurity firm FireEye made Malaysian businesses anxious when it warned they could be the next targets of state-sponsored hackers. The new Malaysian government’s unfavourable stance towards China’s Belt and Road Initiative (BRI) projects may attract the attention of cyber espionage hackers.
— The Asean Post

Malaysia to go ahead with CPTPP
TOWARDS the end of an interview with a Thai television network last week, Tun Dr Mahathir Mohamad was asked his position on the Comprehensive and Progressive Agreement for Trans-Pacific Part­nership (CPTPP).
— The Star Online

Malaysia’s Aug 1 – 25 palm oil exports fall 9.4 pct -ITS
Exports of Malaysian palm oil products for August 1 – 25 fell 9.4 percent to 835,134 tonnes from 921,821 tonnes shipped during July 1 – 25, cargo surveyor Intertek Testing Services said on Saturday.
— The Edge Markets

Malaysia defence ministry to probe claims 3 military personnel still serving Hishammuddin
Malaysia’s Defence Minister Mohamad Sabu has instructed his ministry to conduct an immediate investigation into allegations that three Armed Forces personnel are still serving former defence minister Hishammuddin Hussein.
— Channel NewsAsia

Malaysia’s road to democratic reform
For the first time in the history of Malaysia, the opposition has defeated a sitting government at the polls. During the long rule of the Barisan Nasional (BN), Malaysia suffered serious degradation of its legal and political institutions, and the new coalition government of the Pakatan Harapan knows that it must deal with daunting challenges of reform.
— East Asia Forum

China embarks on belt and road publicity blitz after Malaysia says no to debt-heavy infrastructure projects
State news agency claims widespread international support for programme despite a minority of foreign media and internet users in countries along the route having a positive view of the plans.
— South China Morning News

CIMB Group joins UN’s responsible banking group
CIMB Group Holdings Bhd has taken the lead among the banks in Asean to be an official member of the United Nations’ (UN) Environment Programme Finance Initiative Principles for Responsible Banking (UNEP-FI).
— The Star Online

Significant investment in high speed fixed broadband in the pipeline, says Axiata
Axiata Group Bhd will be making a ‘significant’ investment as early as next year in a move to offer high speed fixed broadband access to all parts of Malaysia at cheaper cost.
— New Straits Times

Malaysia on track to meet 33.1 million tourist arrivals
Malaysia is on track to achieve its targeted tourist arrivals of 33.1 million this year, says the Tourism, Arts and Culture Minister.
— The Star Online

Sapura Energy’s rights issue to create value for shareholders
Sapura Energy Bhd’s plan to raise RM4 billion, via a major rights issue, will create value for shareholders and return the company to profitability as oil and gas market prospects improve, said Credit Suisse in a report.
— New Straits Times

SST: Axiata awaits guidance
Axiata Group Bhd sees regulatory uncertainty as a key risk in its domestic operations going forward as it waits for guidance on the sales and service tax (SST) as well as in determining the impact on the group’s telco operations.
— The Sun Daily

Economist sees haste in Najib’s gloomy forecast
An economist has criticised former prime minister Najib Razak’s message of doom regarding the Malaysian economy as one made in haste and coming from a narrow perspective.
— FMT

PTP sets world record to depart over 19,000 TEUs vessel
Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), a member of MMC Group, became the first port in the world to depart a vessel with a final load over 19,000 TEUs.
— New Straits Times

Leading Malaysian Companies Celebrated at Frost & Sullivan’s 14th Annual Malaysia Excellence Awards
Frost & Sullivan recently lauded Malaysia’s Best-In-Class firms at the 14th annual Malaysia Excellence Awards banquet, held at the Hilton Kuala Lumpur on 26 June.
— AEC News Today/ PR Newswire (media release)

Bursa Malaysia to launch first mini future contract on Aug 27
Bursa Malaysia Bhd’s subsidiary, Bursa Malaysia Derivatives Bhd, is set to launch its first mini futures contract, the Mini FTSE Bursa Malaysia Mid 70 Index Futures Contract (FM70), on Aug 27, 2018.
— New Straits Times

MMC Q2 earnings down 66% to RM20.08m
MMC Corp Bhd’s net profit for the second quarter ended June 30, 2018 fell 66.4% to RM20.08 million from RM59.81 million a year ago due to lower contribution from Johor Port Bhd (JPB) and Northport (Malaysia) Bhd (NMB), as well as lower share of profit from Malakoff Corp Bhd.
— The Sun Daily

SmartPesa introduces integrated insurance agent policy payment solutions with Tune Protect Malaysia
Singapore-based FinTech company SmartPesa is pleased to announce that it is enabling Tune Protect Malaysia (TPM) to use its next-generation payment solutions.
— AEC News Today/ PR Newswire (media release)

Cahya Mata Sarawak’s Q2 net profit rises to RM100.42m
Cahya Mata Sarawak Bhd’s net profit rose to RM100.42 million for the second quarter ended June 30, 2018 from RM68.18 million recorded in the same period last year.
— New Straits Times

IRB confirms RM16.046b unreturned tax refunds
The Inland Revenue Board (IRB) today confirmed that the previous government did not return a total of RM16.046 billion in excess income tax and real property gains tax as at May 31, 2018 to taxpayers, mainly due to the shortfall in the Tax Refund Fund (TBBC).
— The Sun Daily

Muslim countries want to emulate Malaysia’s haj management
Several countries, impressed with Malaysia’s management of the haj and its pilgrims, have expressed an interest to learn from Tabung Haji (TH).
— New Straits Times

TM, UEM Sunrise scrap plans for KL high rise project
Telekom Malaysia Bhd (TM) and UEM Sunrise Bhd (UEMS) have decided to cancel the proposed development of a high rise mixed development along Jalan Raja Chulan in Kuala Lumpur.
— The Sun Daily

Ibraco posts positive growth for 2QFY18, aims for more good opportunities in 2018
Ibraco Bhd (Ibraco) recorded RM49.34 million revenue for the second quarter of the financial year 2018 (2QFY18), a significant jump of 120.86 per cent as compared with RM22.34 million recorded in 2QFY17.
— The Borneo Post

Gamuda gets time extension till Sep 3 to accept Splash sale
Gamuda Bhd has been granted an extension of time from Pengurusan Air Selangor Sdn Bhd until Sept 3, 2018 to revert with the acceptance of the new agreement for its 40%-owned associate company Syarikat Pengeluar Air Selangor Holdings Bhd (Splash).
— The Sun Daily

PM: Government will phase out BR1M
PRIME Minister Tun Dr Mahathir Mohamad said the government will slowly reduce the 1Malaysia People’s Aid (BR1M) payouts before eventually stopping them.
— New Straits Times

Skip the crowd at Malaysia’s unsung hidden islands
Pangkor, Tioman, Perhentian, Sipadan and Redang. These places probably come up tops when you Google “popular islands in Malaysia”.
— Star2

Malaysian shuttlers turn out to be a flop
Since the 1986 Asian Games in Seoul, Malaysia have never returned empty handed — as far as badminton is concerned.
— New Straits Times

 

Feature photo Nan-Cheng Tsai

 

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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