Malaysia morning news for December 12

Malaysia morning news for December 12

Malaysia morning newsMalaysia is the biggest gainer in corporate governance ranking
Malaysia ranked fourth out of 12 Asia-Pacific economies in terms of market accountability and transparency, according to the recent 2018 CG Watch Report published by the Asian Corporate Governance Association (ACGA) and CLSA.
— New Straits Times 

Malaysia may stop or limit egg exports to maintain local market supply: Minister
Malaysia is looking into limiting or stopping the export of eggs to ensure there is sufficient supply for its domestic market, Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail said on Monday (Dec 10).
— Channel NewsAsia

Malaysia: Over 155 people lost RM 3.1 million in durian investment scam
Recently, somebody misused the love that Malaysians have towards the king of fruits by using it to scam people for their money. The ‘Musang King investment plan’ promised low investments with high returns and managed to con 155 victims out of a total of RM 3.1 million (€650,750) over the past four months.
— Fresh Plaza

‘Foreign firm closures due to business reasons’
Five manufacturing companies involving foreign investors closed down during the May-September period, with investments worth RM308.7 million, said Deputy Minister of Trade and Industry Ong Kian Ming.
— The Sun Daily

Malaysia Airlines launches business suite
Malaysia Airlines today announced the rebranding of its First Class cabin to Business Suite offering passengers new levels of luxury with ample cabin space and privacy.
— The Sun Daily

Investors should not worry about on-going tension between Malaysia and Singapore
Existing and potential investors in Johor should not be concerned about the on-going tension between Malaysia and Singapore with regards to airspace and maritime boundaries.
— The Edge Markets

Petronas expects volatile oil prices to continue
Petroliam Nasional Bhd (Petronas) expects the volatile oil prices to persist in 2019 and it is cautiously optimistic particularly on new capital projects.
— The Star Online

Malaysia must achieve use of B20 biodiesel by 2020, says Dr M
Prime Minister Dr Mahathir Mohamad today urged the local palm oil industry to join the ranks of countries already using B20 biodiesel fuel such as Indonesia.
— FMT

When can we get 5G in Malaysia?
You’ve probably heard about 5G a lot in the news lately and you must be wondering, what is 5G all about? Is it just hype or can it unlock new things which are not possible with our current mobile technology?
— Soyacincau

Malaysia’s deal activity falls significantly in 2018
Malaysia has seen a major reduction in corporate deal activity this year with total deals in mergers and acquisitions (M&A), private equity/venture capital (PE/VC) and initial public offerings (IPO) valued at US$12.5 billion compared with the record levels last year with deals worth US$20.3 billion.
— The Star Online

Grab returns home with new Malaysia R&D center
Grab is opening its seventh research and development (R&D) center in Kuala Lumpur, Malaysia. The company’s latest facility joins its existing R&D centers in Bangalore, Beijing, Ho Chi Minh City, Jakarta, Seattle, and Singapore.
— Tech in Asia

Malaysia Plans $4.8 Billion Rescue of Islamic Pilgrim Fund
Malaysia’s finance ministry has approved a plan to revive the balance sheet of Lembaga Tabung Haji, a state fund tasked with helping Muslims save for a pilgrimage to Mecca.
— Bloomberg

Malaysia, Singapore shares edge lower for sixth straight day
Malaysia and Singapore shares fell for the sixth straight day and trading volume tapered as investors retreated to the side lines awaiting fresh cues from a simmering trade spat between the U.S. and China.
— Nikkei Asian Review (paywall)

Fear and the manipulation of the Malay mind
Some people claim that the winners in the anti-ICERD rally were the conservative Malay-Muslims, and the losers Pakatan Harapan (PH) and to a lesser extent Umno.
— FMT

Corruption in civil service ‘very, very low’ now: Malaysian PM
Corruption in the civil service has dropped to a “very, very low” level since the new government came to power, Malaysian Prime Minister Tun Dr Mahathir Mohamad said yesterday.
— Borneo Bulletin Online

Malaysia rises in CG Watch report on corporate governance ranking
Malaysia ranked fourth out of 12 Asia-Pacific economies in terms of market accountability and transparency, according to the 2018 CG Watch report in December.
— The Star Online

Malaysia making mockery of close-knit Asean
The recent incursion by Malaysian vessels into Singapore waters is a timely reminder of how unpredictable and fragile relationships between neighbours really are, despite a seemingly close kinship.
— The Straits Times

Alam Maritim secures another pan-Malaysia job
Alam Maritim Resources Bhd announced today its subsidiary has been awarded a conditional contract to provide pan-Malaysia underwater services for petroleum arrangement contractors.
— The Edge Markets

MGA champions gender equality in energy sector
Championing equal opportunities and diversity in the energy sector, the Malaysian Gas Association (MGA) in collaboration with Malaysia Women in Energy (MyWiE) organised the Forum on Women in Energy (FoWiE) for the second successive year.
— The Borneo Post

Car plunges 10m from elevated car park in Malaysia, driver escapes with minor injuries
A driver inadvertently drove his car off an elevated car park in Malaysia, which smashed into three other vehicles below.
— The Straits Times

Brunei-Malaysia Military Ties in Focus With Defense Chief Visit
Last week, Malaysia’s new defense chief was in Brunei for a scheduled introductory visit. The interaction put the focus on the Malaysia-Brunei defense relationship and the broader state of bilateral ties more generally.
— The Diplomat

MoF to take up RM19.9bil underperforming assets from Tabung Haji
The Ministry of Finance would be taking up RM19.9bil of Lembaga Tabung Haji’s (TH) underperforming assets comprising equities and properties.
— The Star Online

Four new board members at HRDF
The Human Resources Development Fund (HRDF) has today announced four new directors in efforts to put right wrongdoings committed by some members of the previous board.
— New Straits Times

Rosmah appoints new lawyers in corruption case involving solar projects in Sarawak
Former prime minister Datuk Seri Najib Tun Razak’s wife, Datin Seri Rosmah Mansor, who pleaded not guilty to two counts of soliciting and accepting bribes totalling RM1.5 million in connection with the supply and installation of solar energy for rural schools in Sarawak, has appointed two new lawyers to represent her in the case.
— Borneo Bulletin Online

Accountants must be adept to technologies
Government accountants should become adept at technologies, especially automation and artificial intelligence, blockchain, cloud and cybersecurity and data analytics (ABCD), as Malaysia moves into the digital economy and companies steered towards adopting the Industrial Revolution 4.0 (IR 4.0).
— The Borneo Post

LB Aluminium net profit surges 69% in Q2
LB Aluminium Bhd’s net profit for the second quarter ended Oct 31 surged 69.4% to RM2.83 million, from RM1.67 million in the previous corresponding quarter attributed to higher sales volume.
— The Sun Daily

SK Magic home appliances debuts in Malaysia
South Korean conglomerate SK Group, which launched its home appliance arm SK Magic in Malaysia four months ago, plans to be present in over half a million homes here within the next four years.
— New Straits Times

CIMB’s 3D Conquest nurtures young talent for digital age
CIMB Group’s (CIMB) inaugural 3D Conquest hackathon in Kuala Lumpur recently shortlisted 35 teams from an initial list of 715 teams, comprising 3,000 university students.
— The Borneo Post

Tabung Haji to transfer RM19.9b underperforming assets to SPV owned by MoF
Lembaga Tabung Haji (TH) will transfer its underperforming assets worth RM19.9 billion to a special purpose vehicle (SPV) to be owned by the government via the Ministry of Finance, as part of its turnaround plan.
— The Sun Daily

 

Feature photo Zunar Cartoonist Fan Club

This week’s Malaysia morning news feature photo acknowledges Human Rights Day, December 10.

 

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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