Malaysia morning news for December 24

Malaysia morning news for December 24

Malaysia morning news(Updated) 2019 Budget will be recalibrated if oil prices dip below US$50: Guan Eng
The government will recalibrate the 2019 Budget if the average price of crude oil drops below US$50 per barrel, Finance Minister Lim Guan Eng said today.
— New Straits Times

Malaysia Wants $7.5 Billion Back From Goldman Sachs In 1MDB Case
Malaysia is seeking $7.5 billion in reparations from US investment firm Goldman Sachs over its dealings with scandal-ridden linked state fund 1Malaysia Development Berhad, or 1 MDB, the Financial Times reported on December 21, citing the country’s finance minister.
— Investvine

Higher electricity bills next year?
Households may be facing higher electricity bills as the Electricity Industry Fund (EIF), which is used to absorb the increase in cost in the form of surcharge, may run out next year.
— New Straits Times

Govt to encourage collaboration with foreign investors to increase meat supply
The government will encourage local entrepreneurs to collaborate with foreign investors to enhance the supply of meat in the country.
— Malay Mail

Affordability tops housing issues in 2018
The year 2018 has been a year of consolidation for the property industry as both the Pakatan Harapan-led government and property developers grappled with ways to offer affordable houses to resolve the housing woes especially of the Bottom 40 (B40) of the population.
— New Straits Times

Sarawak says it’s not bound by smoking ban
The Sarawak government says Putrajaya’s smoking ban at restaurants nationwide does not apply to the state unless it adopts the new policy which takes effect next month.
— FMT

PM seeks private sector’s help with MAF veterans’ re-employment
Prime Minister Tun Dr Mahathir Mohamad today called for the private sector’s involvement towards the wellbeing of the veterans of the Malaysian Armed Forces (MAF), especially in job placement to qualified individuals.
— Malay Mail

Food Bank Malaysia programme to be expanded to Sabah next year
The Sabah Domestic Trade and Consumer Affairs Ministry is expanding the Food Bank Malaysia initiative to the state next year for the benefit of the less affordable people, said the ministry’s director, Georgie Abas.
— The Sun Daily

Goldman Sachs Should Stop Pleading Innocence And Start Signing Cheques
Sarawak Report has long argued that the narrative that banks, together with Najib and all his cohorts, were somehow ‘fooled’ by Jho Low would not wash. Despite years of seemingly proving they could, Goldman Sachs and others cannot in this case expect to have their cake and eat it.
— Sarawak Report

Malaysia still investors’ favourite emerging market, say academics
Malaysia is still the favourite emerging market of investors despite the current slow pace of foreign net inflow, says an academic.
— FMT

PNB’s investment decisions will not impact government finances
Permodalan Nasional Bhd (PNB) stressed that any of the agency’s financial decision will not have any impact on the government’s coffers.
— New Straits Times

Sarawak’s drive towards electronic payments
A slide, a touch and a beep: such is the easydoings of electronic payments in today’s era of effortless payments.
— The Borneo Post

Scanning equipment worth RM700mil to be used at Malaysia’s entry points
Scanning equipment worth RM700mil will be used at Malaysia’s entry points by end of next year to tighten the hold on illegal activities in the country.
— The Star Online

7 sen income distribution for ASB, 3.25 sen for ASN
Amanah Saham Nasional Bhd (ASNB) has declared an income distribution of 6.5 sen a unit and bonus of 0.50 sen for Amanah Saham Bumiputera ( ASB) for financial year ending Dec 31, 2018 (FY18).
— The Borneo Post

Pay more for food items next year, Malaysians warned
Local consumers will be paying more for food items next year amid a sluggish global economy made worse for Malaysians by a weak ringgit, a consumer advocate has warned.
— FMT

CPTPP may cause devastating socio-economic effects
Malaysia will likely face devastating socio-economic consequences if it chooses to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
— The Borneo Post

‘New Malaysia’ dream under threat
WHEN DAP’s adviser Lim Kit Siang spoke at the “New Malaysia, Old Politics” seminar in Universiti Malaya recently, he said the Pakatan Harapan government needed more than 10 years to fulfil its pledges to build a better Malaysia.
— The Star Online

Malaysia, Australia offer to assist Indonesia in tsunami disaster
Malaysia and Australia on Sunday (Dec 23) offered to extend their assistance to Indonesia, a day after a tsunami killed more than 150 people and injured hundreds on the Indonesian islands of Java and Sumatra.
— The Straits Times

PNB awards Merdeka 118 shopping mall contract to WCT-TSR JV
PNB Merdeka Ventures Sdn Bhd, the developer of the Merdeka 118 project, has awarded the contract to build an eight-storey shopping complex at the former site of Stadium Merdeka to a joint venture between WCT Holdings Bhd and TSR Capital Bhd.
— The Star Online

UAE foundation extends help to Rohingya students in Malaysia
The Khalifa bin Zayed Al Nahyan Foundation of United Arab Emirates (UAE) has extended help to 250 Rohingya students preparing for their school session in four Rohingya schools here next year.
— Malay Mail

New hopes or old fears for Malaysia?
Against the odds, and against most informed predictions, Malaysia’s 14th general elections in May 2018 produced a change of government.
— East Asia Forum

Framework for sustainable retirement villages in Malaysia
The new retirement age is 95”, Prime Minister Tun Dr Mahahtir Mohamad said in jest on Oct 1, which was coincidentally, also the International Day of the Elderly.
— The Edge Markets

Muhibbah Engineering bags RM205m contracts
Muhibbah Engineering (M) Bhd has secured two contracts with a combined value of RM205 million from Petroliam Nasional Bhd (Petronas) and its subsidiary Petronas Gas Bhd (PetGas).
— New Straits Times

HSBC gets regulatory nod to sell Malaysia insurance unit stake to FWD
HSBC Holdings’ Asia Pacific insurance unit has received regulatory approval to divest its 49 per cent stake in the Malaysian life insurance joint venture to Hong Kong-based FWD Group, owned by tycoon Richard Li.
— The Borneo Post

Malaysia is for Malaysians
THIS is supposed to be the season of giving and love. What we have instead, if some quarters are to have their way, is a season of hate. They wanted this to happen. They made it happen and now they are screaming for revenge and for a scapegoat.
— The Star Online

KL condemns border incursion, detention
Malaysia has condemned, in the strongest terms, the incursion and detention of its citizens by Indonesian security forces on Dec 11.
— New Straits Times

PH members free to criticise, says Mat Sabu
Mohamad Sabu today defended those who openly criticised Pakatan Harapan leaders, saying he had no issue with it, even as some called for a truce following a spat sparked by calls for a minister to resign.
— FMT

Massive changes occurring in transportation
The local public transportation sector has undergone a massive change in 2018 and this is further augmented by the new government as it is identified as one of the key targeted areas for ‘refurbishment’.
— The Borneo Post

 

Feature photo Dr. Mahathir bin Mohamad Facebook page

This week’s morning news photo features a defining moment, event, or situation from 2018 for each country as chosen by our editors.

 

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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