Malaysia morning news for August 30

Malaysia morning news for August 30

Malaysia morning newsMalaysia targets 80% rice self-sufficiency by 2022
Malaysia targets to achieve 80% self-sufficiency in rice by 2022, moving up from the current 70%, said Agriculture and Agro-based Industry Minister Salahuddin Ayub.

Scrapping China’s two-child policy boosts hope to end bride trafficking
China’s reported plan to scrap its decades-long family planning policy could help prevent impoverished women from other parts of Asia being trafficked into the country to meet demand for brides, campaigners said on Wednesday.
— Reuters

No Chinese belt, road or bedrooms for Malaysia
Perplexed, wounded, indignant or still optimistic. The Chinese developer Country Garden Holdings Co. can put any spin it wants on its Forest City project, a $100 billion Malaysian township whose fate suddenly has been thrown into doubt after Mahathir Mohamad’s pointed refusal to let foreigners buy apartments or live in them long-term.
— Economic Times

Petron Malaysia’s Q2 net profit chalks up RM92.42 mil, stronger sales and high oil prices
Petron Malaysia Refining & Marketing Bhd’s net profit rose 1.57 per cent to RM92.42 million in the second-quarter (Q2) ended June 30, 2018 from RM90.99 million in the same period previously.
— New Straits Times

Anwar believes Mahathir will keep promise of power transfer
Former deputy prime minister of Malaysia Anwar Ibrahim says he believes Prime Minister Mahathir Mohamad will keep his promise to hand over the reins to him.
— Thai PBS

‘Truly Malaysia-owned’: Local firms can take up ECRL project
MALAYSIA has what it takes to fully support the East Coast Rail Link (ECRL) development, making it a “truly Malaysia-owned” project while keeping costs low, say industry players.
— New Straits Times

Malaysia-Singapore economic relations are good: Malaysian trade minister
Economic relations between Malaysia and Singapore are “good”, said Malaysian International Trade and Industry Minister Darell Leiking on Wednesday (Aug 29).
— Channel NewsAsia

What now for New Malaysia?
100 days have now come and gone and just 21 out of the 61 promises made by Malaysia’s new ruling coalition, the Alliance of Hope (Pakatan Harapan) as part of its election pledge has thus far been completed.
— The Asean Post

Economic crime in Malaysia on the rise: PWC survey
Economic crime in Malaysia has risen over the last two years, consistent with the global trend, according to PwC’s Global Economic Crime and Fraud Survey 2018.
— The Sun Daily

Hibiscus Petroleum’s FY18 net profit soars 92pc to RM203.71m
Hibiscus Petroleum Bhd’s net profit surged 92 per cent to RM203.71 million in the year ended June 30, 2018 (FY18) from RM106.10 million previously.
— New Straits Times

Thailand and Malaysia join 35th high-level committee meeting
Thailand and Malaysia have joined the 35th high-level committee meeting to exchange information about transnational crimes and border security
— News Today (video)

Paradise Found: W Hotels Debuts In Malaysia With The Opening Of W Kuala Lumpur
W Hotels Worldwide, part of Marriott International, Inc., today announced the opening of W Kuala Lumpur, marking the iconic brand’s first-ever hotel in Malaysia.
— AEC News Today/ PR Newswire (media release)

Amnesty urges Malaysia to quash caning sentence of lesbians
Amnesty International on Wednesday urged Malaysia to quash a caning sentence for a lesbian couple, calling the punishment cruel and unjust.
— ABC News

Malaysia urges Myanmar to take action over acts of genocide
Malaysia has urged the Myanmar government to take action against those who perpetrated acts of violence against the Rohingya community and other minorities in the country, especially in the Rakhine State, according to international laws.
— New Striats Times

Europe’s largest asset manager shuns Malaysian debts
Amundi Europe’s largest asset manager, is betting the U.S. stock market’s rally will continue through the second half of this year, though a slowdown is coming and European markets may outperform in 2019 and 2020.
— The Star Online

Malaysian housing minister walks back Mahathir’s talk of banning foreign buyers in Country Garden project
Malaysia’s government is looking into the extent of overseas ownership in the country’s largest residential property project, 24 hours after the prime minister made a comment that suggested he would ban foreigners from buying real estate in Country Garden Holdings’ Forest City township.
— South China Morning Post

Bank Negara puts LaVida coin on consumer alert list
Bank Negara Malaysia (BNM) has listed VI Profit Galaxy (DSV Cryptoclub & LUX Galaxies), the operator behind LaVida coin in its financial consumer alert list.
— The Star Online

FGV to investigate several business practices
Malaysian palm oil producer FGV Holdings Bhd (FGV) said on Tuesday it was investigating several of its business practices following “adverse findings” from an earlier probe into its investments.
— The Borneo Post

Consider e-system to ensure vehicles from Malaysia are insured
I refer to the report about the Malaysian couple who were compensated after their motorcycle was hit by a rogue driver on the Ayer Rajah Expressway.
— The Straits Times

PwC: 32% of fraud in Malaysian businesses committed by senior management
A survey has found that 32% of frauds suffered by Malaysian businesses were committed by their own senior management, compared with 24% globally.
— The Star Online

Analysts see growth opportunities ahead for Harbour-Link
Harbour-Link Group Bhd’s (HLG) prospects could be further supported by several factors including higher project cargo activity at Samalaju Industrial Park, and the construction of Bintulu Port Supply Base, analysts observed.
— The Borneo Post

PPB Group makes RM311mil net profit
PPB Group Bhd’s net profit for the second quarter ended June 30, 2018 jumped to RM311mil from RM96.4mil in the same quarter last year.
— The Star Online

Malaysia prepares for independence day – in pictures
Hari Merdeka is an annual celebration in the Southeast Asia country that marks the date when the Federation of Malaya’s independence from the British Empire was officially declared on August 31 1957.
— The National

Gains from deals lift Q2 profit of Malaysia’s CIMB
CIMB Group Holdings, Malaysia’s second-largest lender by assets, on Wednesday reported a rise in second-quarter net profit, boosted by gains from recent deals.
— The Straits Times

Perodua to offer cash rebates to 3,100 customers over delivery delay
Perodua is offering cash rebates to 3,100 customers affected by the temporary production halt of its new Myvi as they would not be able to register their cars before Sept 1.
— The Star Online

Govt sets up two new committees to address Malaysia’s fiscal health
The federal government is establishing two new committees as part of plans to lower the country’s fiscal deficit to 2.8% of gross domestic product (GDP) this year, Finance Minister Lim Guan Eng said today.
— The Edge Markets

KWAP buys two UK student accommodation buildings for RM280m
The Kumpulan Wang Persaraan (Diperbadankan) (KWAP) bought two purpose-built student accommodation buildings in the UK for a total of £39.75mil (about RM280mil).
— The Star Online

Asia Minute: Buying Beachside in Malaysia? Not So Fast…
Outside investment has been part of Hawaii’s residential real estate market for a very long time. But in Malaysia, there are some new questions this week about foreigners buying property.
— Hawaii Public Radio

Most Asean markets fall; Malaysia retreats from 3-month top
Most Southeast Asian stock markets fell on Wednesday as a lack of supportive cues and caution ahead of a looming deadline on tariffs with — China hurt risk sentiment.
— The Star Online


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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