Malaysia morning news for December 4

Malaysia morning news for December 4

Malaysia morning newsMalaysia Government Sets 20% Annual Growth Target For E-Commerce Sector
The Malaysian government has set an annual growth rate target of 20 per cent for the e-commerce sector in the country, from 14.3 per cent growth posted in 2017, via various initiatives.
— Investvine

Malaysia to decide on oil production cut on Thursday, says Azmin
Malaysia will announce after a ministerial meeting with the Organisation of Petroleum Exporting Countries (OPEC) on Thursday whether it will continue to cut oil production by 20,000 barrels per day beyond 2018, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.
— The Edge Markets

Audit report: Housing projects approved without funds
About 4,000 houses for second generation of Felcra and Risda settlers were promised, but no funds were allocated for them to be built.
— New Straits Times

Malaysia’s key overnight policy rate likely to remain at 3.25%
Despite inflationary pressure building up, the overnight policy rate (OPR) is expected to be maintained at 3.25% next year if gross domestic product (GDP) growth does not slide below 4%, according to economists.
— The Star Online

Malaysia to introduce Public Service Act that separates power between civil servants and political administration
The Malaysian government will introduce the Public Service Act which will pave the way for a separation of power between civil servants and the political administration, said Public Service Department director-general Borhan Dolah.
— The Straits Times

Business confidence rises for Malaysia’s services sector
Business confidence for the services sector in Malaysia has increased to 18.8 per cent, the highest in three quarters, driven by tepid inflationary pressure and the current stable job market.
— The Borneo Post

Malaysia manufacturing PMI for November dips to 48.2
The headline Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI) — a composite single-figure indicator of manufacturing performance — dipped to 48.2 in November from 49.2 in October.
— The Edge Markets

Sapura Energy set for better days ahead solidly backed by PNB
Sapura Energy Bhd is set for a bigger boost on its future earnings potential now that Permodalan Nasional Bhd (PNB) has strengthened its grip on the oil and gas giant.
— New Straits Times

The problem with Malaysians isn’t race or religion
Mariam Mokhtar recently called for the removal of race and religion markers from Malaysian identity cards, or MyKads, in order to foster national unity.
— FMT

Malaysia Airports looks to the future for Concessionaires Conference
The half-day conference discussed the challenges and opportunities of future-proofing retail at the operator’s airports as it looks to increase spend per passenger fourfold.
— DFNI Online

DPM: Govt may amend Land Acquisition Act to allow courts more power
Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said the government is mulling amending the Land Acquisition Act 1960 to provide courts more power in deciding the amount of compensation given in a respective acquisition case.
— Yahoo News

Fund to buy back Malaysia temple land reaches RM2 million
The fund set up to buy the land where the Seafield Sri Maha Mariamman Temple is located – the scene of violent riots last week – has reached RM2 million (S$655,000).
— The Straits Times

Microsoft pledges to transform communities with digital skills
Microsoft has pledged to provide 15,000 university students with internship opportunities, deliver digital skills training to 2.2 million small and medium enterprise (SME) employees, and to hire 8,500 digital workers by 2020 across Asean.
— The Borneo Post

Malaysia: Muslim Groups Push Govt for ‘Firm’ Protection of Malay Privileges
Conservative Muslim groups pressed Prime Minister Mahathir Mohamad’s government Monday to further protect privileges for the ethnic Malay majority after he renounced his pledge to ratify a U.N. treaty against racial discrimination.
— Benar News

Pro-autonomy activists wary of Dr Mahathir’s interest in Sarawak
SARAWAK’S pro-autonomy supporters say the people in state have grown wary of promises made by the federal government, as the state has been made to wait for decades for Putrajaya to honour the Malaysia Agreement 1963 (MA63) and devolve powers to it.
— The Malaysian Insight

Bumi Armada: Fall in shares could be due to internal memo
Bumi Armada Bhd, which was slapped with an unusual market activity (UMA) query on Friday, said the sharp fall in its share price could be attributed to recent announcements, in particular an internal memorandum which highlighted the group’s need to reduce cash outflow and limit efforts to pursue new work.
— The Sun Daily

1MDB to be included in schools’ history syllabus: Malaysia’s Education Minister
The 1Malaysia Development Berhad (1MDB) scandal will be included in the history syllabus, said Education Minister Maszlee Malik.
— The Straits Times

Telco veteran Rosli Man is new chairman of Telekom Malaysia
Telecommunications industruy veteran Rosli Man has been appointed chairman of Telekom Malaysia Bhd(TM) with effect from Monday, taking over from Tan Sri Dr Sulaiman Mahbob.
— The Star Online

OCR proposes 226.1 mil new warrants
Construction and property developer, OCR Group Bhd, is proposing a bonus issue of up to 226.1 million new warrants (Warrant D) on an entitlement basis to be determined by the board.
— New Straits Times

Former Malaysian athlete sleeps in the streets to save money
A former national football player has to live in the streets whenever he comes for treatment at the National Heart Institute (IJN) in Kuala Lum­pur, reported Mingguan Malaysia.
— Asia One

Malaysia to have first ever overseas branch campus of Japanese varsity
The first ever overseas branch campus of a Japanese university is highly likely to be set up in Malaysia, Japanese Ambassador to Malaysia Makio Miyagawa disclosed today.
— Malaysiakini

Malaysia a showcase of democracy in the region
CONVENTIONAL wisdom has it that democracy is in retreat. Fortunately, some countries are bucking the trend. In a surprise victory for the opposition in this year’s general election, the people of Malaysia put an end to 60 years of one-party rule via the ballot box.
— The Star Online

Audit Dept: Finas fails to confirm accuracy of financial statements
National Film Development Corporation Malaysia (Finas) failed to confirm the accuracy of the deferred grant balance and funds amounting to RM95.22 million.
— Malay Mail

How Malaysia helps bolster the less glamourous side of tech
Behind the glitz and glamour of things often sold to us in the market—property, entertainment, and even retail fashion among many others—comes the backbone of every successful industry: rigorous and quality work transpiring behind the scenes.
— Yahoo News

Cycle & Carriage to dispose 49% stake in Mercedes-Benz Malaysia to Daimler AG
Cycle & Carriage Bintang Bhd (CCB) will cease to be a substantial shareholder of Mercedes-Benz Malaysia Sdn Bhd (MBM), after disposing of 66 million or 49% MBM shares to Daimler AG for RM66 million.
— The Edge Markets

Genting Malaysia appoints ex-BNM executive as director
Fomer Bank Negara Malaysia executive Chong Kwai Ying has joined the board of Genting Malaysia Bhd as an independent and non-executive director.
— The Edge Markets

Malaysia may take 15 Russian helicopters in 3 years
MOSCOW-based Russian Helicopters is looking at delivering up to 15 helicopters to Malaysia in the next three years, simultaneously building its market share domestically from 2% to 4%, going forward.
— The Malaysian Insight

Treat With Caution The Tales From Tarek Obaid
The revelation by The Edge that five days before an interview arranged to promote the image of Najib Razak, PetroSaudi Director Tarek Obaid sent the journalist Jamal Khashoggi US$100,000 raises troubling issues.
— Sarawak Report

McDonald’s Malaysia Now Has 5 McDip Flavoured Ice Creams
Think you have tasted every dessert from McDonald’s Malaysia? Well, think again.
— Hype

Analysts remain optimistic on BIMB’s prospects
Analysts are optimistic on BIMB Holdings Bhd’s (BIMB) prospects, given the group’s ability to maintain its net interest margin (NIM).
— The Borneo Post

 

Feature photo Kentaro IEMOTO

This week’s Malaysia morning news feature photo acknowledges International Civil Aviation Day, December 7. 

 

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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