Malaysia morning news for December 13

Malaysia morning news for December 13

Malaysia morning newsMalaysia well on track to becoming high-income nation: World Bank
Malaysia is well on its way to crossing the threshold into high-income and developed country status in the coming years, said the World Bank.
— Channel NewsAsia

More online hires at Malaysia’s oil & gas sector
Malaysia’s oil and gas industry recorded 19 consecutive months of year-on-year growth, up 13 per cent in October, according to the latest Monster Employment Index (MEI).
— New Straits Times

Malaysia Oct manufacturing sales up 10.2% y-o-y to RM73.1b
Malaysia’s October 2018 manufacturing sales rose 10.2% year-on-year to RM73.1 billion from RM66.3 billion, said the Department of Statistics Malaysia.
— The Edge Markets

Malaysia’s October factory output up 4.2% y-o-y, above forecast
Malaysia’s industrial production index rose 4.2 per cent in October from a year earlier, faster than the previous month, supported by strength in manufacturing and a rebound in the mining sector, government data showed on Wednesday.
— Business Times

Analysts sees AirAsia as being digitally-focused with aircraft sales
AirAsia Group Bhd’s purported disposal of 30 narrowbody aircraft to US investment firm Castlelake LP for roughly US$800 million indicates the former’s aspirations to turn from being asset-heavy to being more digitally focused, analysts said.
— New Straits Times

Malaysia rebrands first class cabins as business
Malaysia Airlines has rebranded its first class cabins as a premium business class service, though no major changes are being made to the product.
— Business Traveller

Five foreign firms closed down from May to September
Five manufacturing companies involving foreign investors closed down during the May-September period, involving investments worth RM308.7 million, said Deputy Minister of Trade and Industry Ong Kian Ming.
— The Borneo Post

Maritime dispute: Malaysia has taken steps to de-escalate tensions, 1 ship left in Singapore waters, says Khaw
One Malaysian ship remains in Singapore’s territorial waters as of Wednesday (Dec 12), said Singapore Transport Minister Khaw Boon Wan as he noted the steps taken by Malaysia to de-escalate tensions on the ground.
— Channel NewsAsia

Credit crunch may hit Asia, including Malaysia
A credit crunch may hit Asia as early as next year, with Malaysia likely to be one of the Asian economies at the centre of the crisis.
— The Star Online

Malaysia ‘seems to be using technical excuse’ to change airspace arrangements: Singapore’s Khaw Boon Wan
Malaysia seems to be using a “technical excuse” to change airspace arrangements in southern Johor, said Singapore Transport Minister Khaw Boon Wan on Wednesday (Dec 12).
— Channel NewsAsia

What A State Of Affairs – COMMENT
During the course of the 1MDB crisis, as Sarawak Report ploughed a fairly lonely furrow attempting to bring out the facts, no one was more aggressive in denouncing this blog than the ex-PM’s newly promoted communications man and UMNO party treasurer, Salleh Keruak.
— Sarawak Report

Glovemakers prohibit staff from working excessive hours
Medical glove manufacturers and exporters have reiterated that they adhere to the Malaysian labour laws and prohibit their staff from working excessive hours.
— New Straits Times

MAHB claims seen having little impact on AirAsia X
The RM26.7 million claim by Malaysia Airports Holdings Bhd (MAHB) from AirAsia X Bhd (AAX) for uncollected passenger service charges (PSC) will not have any material impact on the airline’s operations.
— The Sun Daily

Rakuten Trade: GLC shake-ups unlikely to affect market sentiment, foreign funds to return
The changes in top management officials in some government-linked companies (GLCs) this year are not expected to drastically affect market sentiment, according to Rakuten Trade’s head of research Kenny Yee.
— The Sun Daily

CPO inventory at all-time high
Malaysian crude palm oil (CPO) inventories reached an all-time high after surpassing 3.01 million metric tonnes (MT) in November.
— The Borneo Post

KRI calls for govt review of wages as levels too low
Malaysia’s low-wage environment has forced young job seekers to be willing to work for as low as RM1,715 on average, or about 40% lower than 2017’s national mean monthly wage.
— The Star Online

Malaysia to draft Climate Change Act, formulate national adaptation and mitigation plan
Malaysia will start drafting a Climate Change Act and aims to complete and announce a national climate change adaptation and mitigation plan by the end of next year, Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin said.
— The Straits Times

MaybankIB maintains ‘buy’ call on CIMB
Maybank IB Research has maintained its “buy” call on CIMB Group Holdings Bhd, while projecting the bank to record a faster earnings growth of 11 per cent into financial year (FY) 2019.
— New Straits Times

Malaysia salary guide 2019: What you should be asking from your bosses
Digitalisation and improved compliance regulation are predicted to be the key drivers of recruitment activity in Malaysia next year. According to the Salary Survey 2019 by Robert Walters, greater clarity on the new government’s policies and direction will pave the way for more positive market conditions in 2019.
— Marketing Interactive

MY EG falls in heavy trade
My EG Services Bhd told the stock exchange it was unaware of any reason behind the steep decline in its share price on Wednesday.
— The Star Online

Tabung Haji plans to cap depositor’s fund level
Lembaga Tabung Haji (TH) is looking to put a cap on each depositor’s fund in the future as one of the measures to reduce government’s liability and exposure towards the depositors.
— New Straits Times

Ong: Five foreign firms shut down from May to September
Five manufacturing companies involving foreign investors closed down during the May-September period, involving investments worth RM308.7mil, said Deputy Trade and Industry Minister Ong Kian Ming.
— The Star Online

Malaysia Charges Najib and Ex-1MDB Chief
Malaysia’s former leader Najib Razak and Ex-1MDB President Arul Kanda were charged for their alleged roles in tampering with a state audit report into the troubled fund. Yudith Ho reports on “Bloomberg Markets: Middle East.”
— Bloomberg

Home Ministry: No more regular legalisation for illegals
The Home Ministry will no longer undertake the legalisation of illegal immigrant workers on a regular basis.
— Malay Mail

Proton X70 SUV launched in Malaysia, from RM99,800
We’ve been waiting for this moment ever since Proton and Geely tied the knot in the middle of last year, and that moment has finally arrived – the Proton X70 has officially been launched in Malaysia!
— Paultan

Tenaga Nasional wins ‘Ad of the Year’ at YouTube Malaysia Ad Awards
Tenaga Nasional Bhd (TNB) was the biggest winner at the third annual YouTube Malaysia Ad Awards last Friday, bringing home the “Ad of the Year” award for its entry “Rumah Epik Fantastik” which also won the award for Top Ad in the Long-form in Storytelling category.
— New Straits Times

Commentary: So much for a new Malaysia
The massive anti-ICERD rally and ensuing political dynamics suggest the start of the end of Malaysia’s honeymoon period, says James Chin.
— Channel NewsAsia

 

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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