Malaysia Morning News For December 5

Malaysia seeks return of airspace control from Singapore
Malaysia has told Singapore it intends to take back control of airspace that the city-state has managed since 1974 amid a dispute over a flight path to a secondary airport in Singapore, Malaysia’s transport minister said on Tuesday.
— Bangkok Post

Sarawak’s mega projects to boost state’s construction outlook in 2019
The pending implementation of mega projects, especially in Sarawak, will likely provide a boost on the state’s construction outlook next year, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) projected in its sector update.
— The Borneo Post

Malaysia’s Oct export growth seen easing to 6.2% year-on-year
Malaysia’s exports are expected to rise 6.2% in October from a year earlier, slightly slower than the previous month’s pace, a Reuters poll showed.
— The Star Online

Malaysia sets license renewal conditions for rare earths miner Lynas
Malaysia on Tuesday set conditions for future renewal for rare earths miner Lynas Corp’s licenses to operate in the country, including the removal of radioactive residues.
— Business Insider

Malaysia to maintain credit ratings despite higher fiscal projections
Malaysia is expected to maintain its credit rating despite the higher fiscal projections, supported by the government’s efforts to restore public finances and debt, in terms of the fiscal deficit over the medium term, according to the latest ICAEW report “Economic insight: South-East Asia”.
— The Sun Daily

Sapura Energy’s 3rd quarter results will not dent the company
Sapura Energy Bhd will be able to ride over the challenging third quarter financial results ended September due to its strong fundamentals, solid order book of RM18.2 billion, rebounding crude oil prices as well as full support of its majority shareholder, Permodalan Nasional Bhd.
— New Straits Times

MAVCOM fines AirAsia, AirAsia X for misleading ticket prices
The Malaysian Aviation Commission (MAVCOM) has imposed a financial penalty on AirAsia Bhd and AirAsia X Bhd for RM160,000 each for advertising misleading air ticket prices, including on the internet.
— New Straits Times

In ‘New Malaysia’, race continues to cast a long shadow
Just months after a stunning election victory, Prime Minister Tun Dr Mahathir Mohamad has had to step in to mollify the country’s majority Malay Muslims in recent weeks, underlining a weighty challenge confronting his multi-ethnic, reformist coalition: race.
— The Star Online

Shippez.com marks out expansion plans
Shippez.com, an online transport aggregator operated by Onlinefellas Sdn Bhd (OSB), has set big expansion plans to attract more consumers to its unique logistic model.
— New Straits Times

Singapore lodges ‘strong protest’ with Malaysia over port extension
Singapore has lodged a “strong protest” with Malaysia over its plan to extend the limits of a port in Malaysia’s southern-most state, saying it encroached into the territorial waters of the city-state.
— Euro News

Malaysia tells Lynas to remove rare earths radioactive waste
Malaysia has told Lynas, the Australian company operating a rare earth elements processing plant on the country’s east coast, that it must remove the radioactive waste that accumulated as a result of its activities over the past six years if it wants to continue to operate.
— Aljazeera

Max Money denies allegations, will pursue legal action against Himalayan Bank
Max Money Sdn Bhd has denied allegations that the company is involved in fraud and owes Nepal-based Himalayan Bank Ltd some US$4.2 million in transactions.
— New Straits Times

Fund to buy back Malaysia temple land reaches $664k
A fund set up by a Malaysian Chinese tycoon to buy the land where a Hindu temple is located – the scene of violent riots last week – has reached RM2 million (S$664,000).
— The Straits Times

Hibiscus allocates RM195m for two oilfields, defers Australian asset development
Hibiscus Petroleum Bhd has allocated a capital expenditure (capex) of RM194.5 million for its Anasuria Cluster and North Sabah oilfields, but deferred development of its Australian asset until it secures more capital.
— The Sun Daily

Better quarter for WTK from timber, plantations
Higher contributions from timber and plantation boosted WTK Holdings Bhd’s (WTK) figures for the third quarter of financial year 2018 (3QFY18), whereby the firm saw 3Q18 revenue of RM213.2 million which was up 3.1 per cent quarter on quarter (q-o-q).
— The Borneo Post

Malaysia assesses bids for Jho Low’s yacht after global interest
Malaysia is assessing bids for a luxury yacht once owned by fugitive financier Low Taek Jho after a monthlong auction attracted global interest for the vessel allegedly purchased with funds pilfered from 1MDB.
— Islamic Business and Finance

C&C Bintang sells stake in Mercedes-Benz Malaysia
Cycle & Carriage Bintang Bhd (C&C Bintang) is selling its 49% stake in Mercedes-Benz Malaysia Sdn Bhd (MBM) as Daimler AG had exercised its call option on the block of 66 million shares in MBM for RM66 million.
— The Edge Markets

Navy Exercise Highlights Malaysia-Singapore Military Ties
Over the past week, Malaysia and Singapore held the latest iteration of their bilateral maritime exercise. The interaction cast light on the ongoing defense collaboration underway between the two Southeast Asian neighbors despite lingering challenges in the bilateral relationship.
— The Diplomat

LTH, IRB, Felda among agencies receiving audit certificates
Lembaga Tabung Haji (LTH), the Inland Revenue Board (IRB) and the Federal Land Development Authority (FELDA), are among 16 agencies which received Audit Certificates Without Reprimand with Emphasis of Matter for the financial year 2017.
— The Borneo Post

Malaysia’s healthcare market to reach RM127.9b by 2027, says Fitch Research
Malaysia’s healthcare market is expected to grow by 127% to RM127.9bil in 2027 from the RM56.3bil in 2017 as the government pushes ahead with higher public healthcare expenditure, says Fitch Solutions Macro Research.
— The Star Online

Malaysia among countries especially prone to landslides
Malaysia sits among the top 10 countries that had a high number of landslides over the past decade.
— The Star Online

ASEAN GIVES MALAYSIA INTERNATIONAL SIGNIFICANCE
Pundits and observers of the region have long doubted the agency of the Association of Southeast Asian Nations (Asean) – consigning the organisation to the doldrums of history since the early 1990s.
— South China Morning Post

Educated Syrian refugee ends up doing odd jobs in Malaysia
Two years ago, at the height of the Syrian civil war, 21-year-old Abla Nasir fled her country and sought refuge in Malaysia.
— FMT

Several injured after explosion at Malaysia shopping mall
Several people are believed to have been injured when an explosion rocked a shopping mall here on Tuesday (Dec 4) afternoon.
— Inquirer.net

Rights group concerned about delay on Malaysia’s death penalty repeal
Lawyers for Liberty (LFL) said a bill repealing the death penalty had not yet been introduced in parliament, despite repeated assurances by de-facto law minister Liew Vui Keong last month that the government remained committed to the matter.
— The Sun Daily

When is it ever time for human rights in Malaysia?
On this year’s Human Rights Day 2018, Suaram asks: When will the time ever be ripe for human rights to be realised in Malaysia?
— Malaysiakini

Utusan sells PJ shop office for RM7mil
Utusan Malaysia (M) Bhd has agreed to sell a five-storey corner shop office in Seksyen 14, Petaling Jaya to Eden Resources Sdn Bhd for RM7mil.
— The Star Online

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.