Malaysia Morning News For July 10

Malaysia Morning News For July 10
Estimated Reading Time: 5 minutes |

Malaysia morning newsMalaysia Could Have To Pay Over $200 Million Compensation To Singapore For Scrapping Railway Plan
Singapore will try to recover costs incurred for a rail project with Malaysia, which have exceeded 250 million Singapore dollars ($184 million) and are still growing, if the new government in Kuala Lumpur confirms it has cancelled the project, officials said on July 9, both Reuters and Bloomberg News reported.
— Investvine

Singapore will honour 1962 Water Agreement, expects Malaysia to do the same: Vivian
SINGAPORE will fully honour the terms of the 1962 Water Agreement with Malaysia, including the price of water stipulated in it, and expects Malaysia also to do so, Foreign Minister Vivian Balakrishnan said on Monday.
— The Business Times

Malaysia c.bank seen holding key rate on easing inflation, steady growth
Malaysia’s central bank is expected to leave its benchmark interest rate unchanged at a meeting on Wednesday, as growth remains firm and a short-term dip in inflation is expected after the new government removed a much-maligned consumption tax.
— Nasdaq

Sense and sensibility in S’pore-Malaysia bilateral ties
Why the sudden spate of remarks from Malaysia questioning the high-speed rail, stock trading link and water agreements? The answer lies in domestic concerns in Malaysia, and Mahathir Mohamad’s own history with Singapore.
— The Straits Times

Malaysia Airlines Enrich and Loylogic Announce the Launch of Loylogic’s New BUY Miles Solution
Loylogic, the global leader in e-commerce and e-payment solutions for loyalty programs, and Enrich the frequent flyer program of Malaysia Airlines have partnered to implement the new Loylogic Buy Miles Solution.
— AEC News Today/ PR Newswire (media release)

Close to $168,000 collected in donations for Najib
Close to RM500,000 (S$168,000) in donations have been collected to settle the remaining cash needed for Datuk Seri Najib Tun Razak’s bail.
— AsiaOne

Malaysia may lower voting age to 18 before next elections, says minister Syed Saddiq Abdul Rahman
Malaysians as young as 18 years old may get to vote in the next general elections, said youth and sports minister Syed Saddiq Abdul Rahman on Monday (July 9).
— The Straits Times

Ringgit’s resilience under threat
Malaysia’s ringgit was sheltered from the worst of last month’s emerging-market selloff, thanks to higher oil prices. It may be about to make up for lost time.
— The Asean Post

Malaysia ends search for missing Indonesians
Malaysia’s Search and Rescue team ended their search on Friday for the Indonesians aboard a boat that sank off the coast of Johor, Malaysia.
— The Jakarta Post

‘New Malaysia’ makes Singapore look outdated
Mahathir’s triumph exposes shortcomings of city-state’s one-party rule
— Nikkei Asina Review (paywall)

Malaysia’s GDP forecast at 5.1pc in 2018: Maybank IB Research
Malaysia’s near-term growth outlook is fluid as domestic political events add to external developments, Maybank IB Research says in its latest report.
— New Straits Times

FGV hopes PM’s China trip will boost palm oil sector
FGV Holdings Bhd is optimistic that Prime Minister Tun Dr Mahathir Mohamad’s official visit to China in August will benefit the palm oil sector, said president and group chief executive officer Datuk Zakaria Arshad.
— The Borneo Post

Malaysia attractive for FDI, says Country Heights boss
Country Heights Holdings Bhd founder Lee Kim Yew says the country holds strong promise in property development.
— Free Malaysia Today

BNM expected to keep OPR at 3.25 per cent
Standard Chartered Global Research (StanChart) expects the Bank Negara Malaysia (BNM) to keep the overnight policy rate on hold at 3.25 per cent at the fourth Monetary Policy Committee meeting on July 11 and maintain a neutral stance.
— The Borneo Post

LPI Capital sees net profit easing to RM65.7 million in 2Q
General insurer LPI Capital Bhd’s net profit for the second quarter ended June 30, 2018, declined slightly to RM65.74 million from RM68.06 million a year earlier due to a lower investment holding segment income.
— The Borneo Post

Ringgit opens marginally higher with oil prices poised to rise
The ringgit opened marginally higher against the US dollar in the early trading session today, a dealer said.
— The Star Online

Sarawak plays host to sustainable palm oil conference
Sarawak is hosting the Consortium Studies on Smallholder Palm Oil (CSSPO) 2018 conference which is an annual open forum for academics and stakeholders in the palm oil and agriculture industry to disseminate relevant researches and share and discuss alternative strategies in harmonising environmental, social and economic dimensions.
— The Borneo Post

Short-selling of Top Glove suspended as counter plunges on litigation news
The proprietary day trading (PDT) and intra-day short selling (IDSS) for Top Glove Corp has been suspended for the remainder of the day as it breached Bursa Malaysia limits.
— The Star Online

Days of GLC top execs getting fat salaries over, says PM
The days of top executives of government-linked companies (GLCs) drawing fat salaries regardless of their companies’ performance is over, Prime Minister Tun Dr Mahathir Mohamad has warned.
— The Star Online

Malaysian wins at New York food show, gets break with major franchise
Seremban lass Auria Abraham says she is trying to bring Malaysian food like lime leaf sambal and pandan kaya from her childhood to the US market.
— Free Malaysia Today

As LRT3 bill spirals, Prasarana mulls taking over project
Prasarana Malaysia Bhd is considering taking over the construction of the Light Rapid Transit line 3 (LRT 3) from its project delivery partner (PDP) to curb its spiraling cost.
— The Star Online

 

Feature photo Andrew H

 

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

junior writer/ trainee journalist at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations. She commenced as an intern and was appointed as a junior writer/ trainee journalist on April 2, 2018

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