Malaysia Morning News For August 6

Malaysia to take possession of 1MDB-linked yacht from Indonesia
Malaysia is making ‘some arrangement’ with Indonesia to take ownership of a luxury yacht linked to a multi-billion dollar financial scandal, a government spokesman said Sunday.
— New Straits Times

Malaysia’s Anwar Ibrahim wins party presidency
Malaysian political leader Anwar Ibrahim won the presidency of the People’s Justice Party (PKR) on Sunday, becoming next in line to take over as prime minister when current premier Mahathir Mohamad steps down.
— Reuters

MCA: Is there a need to restructure Khazanah?
MCA deputy president Wee Ka Siong today questioned the need to restructure sovereign wealth fund Khazanah Nasional.
— FMT

Gullible Najib violated election laws in Malaysia: Bersih
The Bersih group, which campaigns for free and fair elections in Malaysia, has accused ex-PM Najib Razak of violating election rules after posting a pro-Barisan Nasional message on votings day.
— The Independent

Malaysia’s youngest minister Syed Saddiq Syed Abdul Rahman out to show he is no ‘kitten’
In a recent Parliament sitting, the Internet was abuzz with comments that were not focused on the minister speaking on live telecast, but on another sitting in the background, fidgeting and bouncing on his chair while waiting for his turn to speak.
— The Straits Times

Kok: Better palm oil export prospects in 2H18
The export prospects for Malaysian palm oil in the second half of 2018 looks positive, as the Ministry of Primary Industries has set its eyes on wooing more buyers from China, the world’s second largest economy and Malaysia’s top three palm oil consumer, says minister Teresa Kok Suh Sim.
— New Straits Times

Malaysia and Cambodia widen the democracy-dictatorship divide
In contrast to Malaysia’s electoral earthquake in May, which resulted in the first opposition win since independence, last Sunday’s elections in Cambodia produced a predictable landslide victory for Prime Minister Hun Sen, in power since 1985.
— Nikkei Asian Review

Aiming to be the ‘e-commerce of real estate’
Luco Vision Sdn Bhd (Luco Vision), a tech company involved in property management, aims to enable users to be able to seamlessly rent, sell, lease, or buy properties on its platform.
— The Borneo Post

How to solve woes in hiring of foreigners
The country’s largest employer and labour groups have urged the government to stop the outsourcing of foreign worker recruitment processes, which they say have pushed up costs and resulted in abuses.
— FMT

Microsoft Surface Go now available for pre-orders
Microsoft announced that the Surface Go will be available for pre-orders in Malaysia from local Surface authorised retailers.
— The Borneo Post

New incubator for the F&B industry
GALEEVEURS Group recently launched Malaysia’s first integrated F&B incubator ecosystem to help groom and build the next generation of F&B operators.
— The Star Online

An air of uncertainty among local businesses
Uncertainty over government policies is the top concern among Malaysian businesses, said Ipsos Business Consulting (Ipsos BC).
— The Sun Daily

Scania trucks and buses delivery soar, due to zero GST
Scania (Malaysia) Sdn Bhd has seen an increase in delivery for heavy vehicles since June following the zero rating of the Goods and Services Tax (GST).
— New Straits Times

Analysts reinforce optimism on BIMB’s prospects
analysts have reinforced their optimism on BIMB’s prospects, following a recent meeting with BIMB Holdings Bhd’s (BIMB) chief financial officer (CFO) Malkit Singh to review the investment case for the group.
— The Borneo Post

Bank reaches out to more SME customers
TO get more SMEs to try out its range of products and services, CIMB Bank Bhd recently embarked on the SME Deposit Campaign.
— The Star Online

40 stunning free photos of Malaysia
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— Asean Up

Axiata chairman resigns after 10 years of service
Axiata Group Bhd today announced the resignation of Tan Sri Azman Mokhtar as the company’s chairman, non-independent non-executive director and representative of Khazanah Nasional Bhd after 10 years of “exemplary” service.
— New Straits Times

Selangor govt gives Gamuda until Friday to accept offer for Splash
Gamuda Bhd, which has maintained that Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash) is worth more than RM2.8 billion minus its loans, has until Friday to revert to the Selangor state government on its RM2.55 billion offer for Splash.
— The Sun Daily

Higher credit score, bargain for lower interest rate
It is widely known that a higher credit score could help grant an individual better offers for credit cards, a housing loan, a car loan or a mortgage.
— The Borneo Post

UEM Sunrise maintains RM1.2b sales target this year
UEM Sunrise Bhd is not impacted by the changes in the board of Khazanah Nasional Bhd and has maintained its sales target of RM1.2 billion for 2018 with improved sentiment among buyers.
— The Sun Daily

Malaysia emerge second in Asia Invitational Sevens
The national squad lived up to expectations when they finished second in the Asia Invitational Sevens in Sapporo, Japan today.
— New Straits Times

Feature photo Conny Sandland

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.