Malaysia Morning News For July 12

Malaysia ex-PM Najib Razak says he has difficulty paying his bills after his bank account is frozen
Former Malaysia prime minister Najib Razak has hit out at authorities for freezing his personal bank account, saying it has caused him “hardships” and he now has difficulties paying his bills.
— Channel NewsAsia

Wife of former Malaysian PM Najib Razak sued over jewellery worth $14.8m
A luxury Lebanese jewellery company is suing former Malaysian first lady Rosmah Mansor, demanding she return 44 pieces of jewellery worth US$14.8 million.
— The Guardian

Malaysia enhances anti-corruption campaign
Malaysian Prime Minister Mahathir Mohamad on July 10 required that his Cabinet members declare their wealth and refuse gifts of more value than perishable food and flowers.
— VietnamPlus

New Malaysia Central Bank Chief Strikes Neutral Tone on Rate
Malaysia’s central bank kept its benchmark interest rate steady in the first policy meeting under a new governor, providing support to an economy that Prime Minister Mahathir Mohamad is trying to revamp.
— Bloomberg

Malaysian palm oil price drops over 2% on US-China trade conflict
Malaysian palm oil futures fell over 2 percent to a two-year low on Wednesday evening, tracking weakness in related oils on China’s Dalian Commodity Exchange and as an escalating U.S.-China trade conflict weighed on the market.
— The Star Online

Genting Malaysia issues RM2.6b debt notes
Genting Malaysia Bhd has issued RM2.6bil in debt notes to finance the group’s the property projects and resorts including those located in Genting Highlands.
— The Star Online

Now, only one licence required for oil & gas exploration, prospecting and mining in Sarawak
The Sarawak State Assembly has passed the Oil Mining (Amendment) Bill 2018 which requires only one licence for exploration, prospecting and mining of oil and gas, a move which Sarawak feels will encourage more investments into the state.
— The Sun Daily

Richard Malanjum named new Malaysia Chief Justice
Richard Malanjum on Wednesday (Jul 11) was sworn in as the new Chief Justice of Malaysia, effective immediately.
— Channel NewsAsia

Malaysia expected to sign military MoUs with Japan by year-end
Malaysia is expected to sign several Memorandums of Understanding (MoUs) with Japan pertaining to the military industry by the end of this year.
— New Straits Times

AirAsia to transition its Melbourne services to Avalon Airport
AirAsia confirmed it will transition its twice daily Melbourne, Australia services from Tullamarine Airport to Avalon Airport from December 5 this year, at the same time launching the first ever services from Victoria’s second international airport.
— The Borneo Post

Bank Negara maintains OPR at 3.25 per cent after MPC meeting
Bank Negara Malaysia (BNM) has maintained the Overnight Policy Rate (OPR) at 3.25 per cent after the two-day Monetary Policy Committee (MPC) meeting which ended yesterday.
— The Borneo Post

Can the government sue 1MDB’s past auditors?
The government can take legal action against the past auditors of 1Malaysia Development Bhd (1MDB) should it find that the work done by them was not satisfactory or did not guard its interests, according to an industry observer.
— The Sun Daily

600,000 job opportunities to be created under SME sector
The Sabah Ministry of Trade and Industry aims to create 600,000 job opportunities by 2023, under the small and medium enterprises (SME) sector.
— The Borneo Post

Malaysia health authorities issue warning as HFMD cases rise
All Malaysian states recorded an increase in the number of hand, foot and mouth disease (HFMD) cases, said the director of the health ministry’s disease control division Chong Chee Keong on Tuesday (Jul 10).
— Channel NewsAsia

Should Malaysian universities celebrate rising in the QS Rankings?
THERE has been a lot of publicity lately about University of Malaya (UM) getting into the top 100 of the Quacquarelli Symonds (QS) World University Rankings.
— New Straits Times

Malaysian, Indonesian Haj pilgrims to benefit from immigration pre-clearance
All pilgrims from Malaysia and a section of pilgrims from Indonesia will have immigration pre-clearance facility from their embarkation points for the upcoming Haj.
— Saudi Gazette

EPF clarifies funding to govt-owned Pembinaan PFI
The Employees Provident Fund (EPF) has clarified that the repayments of RM21.16 billion to government-owned Pembinaan PFI Sdn Bhd are currently in order.
— New Straits Times

Asian economy to remain resilient amid ongoing trade war
The Asian economy, including Malaysia, will remain resilient amid the ongoing trade war between the United States (US) and China, said former Bank Negara Malaysia Governor, Tan Sri Dr Zeti Akhtar Aziz.
— The Borneo Post

JKG Land: Property market remains challenging
JKG Land Bhd expects continued challenging times ahead and like other property developers and has appealed to the government to liberalise housing loan criteria for homebuyers.
— New Straits Times

Atta Global unit buys two property developers for RM7.5m
Atta Global Group Bhd’s wholly owned subsidiary Atta Properties Sdn Bhd (APSB) today entered into share sale agreements with vendors for the acquisition of two property developers for RM7.5 million.
— The Sun Daily

Heavy rain, strong winds keep APM busy
Heavy rain accompanied by strong winds since Tuesday night until yesterday morning kept personnel from Miri Civil Defence Force (APM) busy with clearing fallen trees and branches on the roads throughout the city.
— The Borneo Post

IG Tech, Malaysia’s Aetins in insurance tech tie-up
Locally-owned IG Tech inked a deal with Malaysia-based Aetins to offer technology-enabled solutions targeting insurance companies and takaful operators.
— Khmer Times

Feature photo Andrew H

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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.