Malaysia Morning News For July 19

AirAsia announces $30bn deal for 100 Airbus planes
Malaysian budget airline AirAsia Thursday announced an additional order of 34 Airbus A330neo planes, bringing the total value of its expanded 100-plane order to $30 billion as it sets its sights on European routes.
— Bangkok Post

Malaysia to raise oil royalties for producing states from 5% to 20%
Malaysia will raise oil royalties for its petroleum-producing states to 20 per cent from the current 5 per cent, Prime Minister Mahathir Mohamad said on Thursday (July 19).
— The Straits Times

Malaysia to push for aerospace hub of Southeast Asia
A smooth transition in the change of government and a stable economic and political landscape have ensured continued confidence in Malaysia as a country to invest in as it looks to accelerate its push as a hub for aerospace industry in the South East Asian region.
— New Straits Times

SST 2.0 easy for companies and fair to the people
The Sales and Services Tax (SST), to be implemented from September 1 this year, will be easy for companies to manage and also takes into consideration the needs of the Bottom-40 household group, says the Customs Department.
— The Borneo Post

Maybank retains Malaysia top bank brand spot
Malayan Banking Bhd (Maybank) has maintained its position as the top bank brand in Malaysia based on the 2018 Brand Finance Banking 500 Brand Value Report issued by global brand valuation and strategy consulting firm, Brand Finance.
— New Straits Times

Malaysia arrests seven people over suspected militant links
Malaysia has detained seven people for suspected militant-linked activities, including a man who allegedly made death threats against the country’s king and prime minister, police said on Thursday.
— Reuters

Malaysia to negotiate deferment of high-speed rail with Singapore
Malaysia will negotiate a deferment of the Singapore-Kuala Lumpur High Speed Rail (HSR) project with Singapore as it looks to avoid paying compensation, Prime Minister Mahathir Mohamad said yesterday.
— The Straits Times

Can PM revive Malaysia’s national car?
In 1985, Malaysia’s then-Prime Minister Mahathir Mohamad proudly drove a Proton across the Penang Bridge causeway to launch the car.
— Arab News

Malaysia Finance Minister Estimates 10% 1MDB Recovery
Malaysian Finance Minister Lim Guan Eng says the nation may be able to recover only 10% of the money lost through 1MDB short of the $4.5 billion target Prime Minister Mahathir is seeking to recoup. Lim sat down in an exclusive interview with Bloomberg News’ Haslinda Amin in Kuala Lumpur.
— Bloomberg

‘Malaysia needs time to adjust to SST’
Malaysia will take two to four years to adjust to the new Sales and Services Tax (SST) system.
— New Straits Times

Over 300,000 foreigners living legally in Malaysia: Home Ministry
The Home Ministry has recorded 269,586 permanent residents and 33,668 temporary residents in Malaysia as of June 30 this year.
— New Straits Times

‘Failure is not an option’: Malaysia’s new finance minister has big job ahead
Malaysia’s new finance minister, Lim Guan Eng, has stated he doesn’t care about being “unpopular” – but can Mahathir Mohamad’s new government fix the $250 billion deficit without abandoning campaign promises?
— Southeast Asia Globe

Business optimism in Malaysia soars in Q2
Business optimism in Malaysia rose 24 percentage points (pp) to 52% net as at the end of the second quarter (Q2) of 2018 versus 28% in Q1 after the change in the new federal government, according to Grant Thornton International Business Report.
— The Sun Daily

Malaysia unlikely to cut rates despite three-year low inflation rate
MALAYSIA’S annual inflation rate slowed to its lowest in more than three years in June, after the government abolished a goods and services tax (GST), but economists said this was unlikely to lead to any change in monetary policy.
— Business Times

GST refund delays to blame too for higher prices as businesses passed on costs to consumers: Lim
Delays in refunding claims for the Goods and Services Tax (GST) to businesses led them to passing on the costs to consumers, resulting in higher prices of goods, according to Finance Minister Lim Guan Eng.
— The Sun Daily

CCM clinches two accolades at 2018 Frost & Sullivan Malaysia Excellence Awards
CCM Duopharma Biotech Bhd (CCM) recently received the ‘Pharmaceutical Company of the Year (Generics)’ and the ‘Halal Pharmaceutical Company of the Year’ awards at the 2018 Frost & Sullivan Malaysia Excellence Awards, acknowledging the company’s commitment to developing first-class products to address consumers’ health and well-being needs.
— The Borneo Post

PUC inks MoU with Axiata’s units
PUC Bhd’s wholly owned subsidiaries today entered into memorandum of understanding (MoU) with two units of Axiata Group Bhd to further develop its digital advertising capabilities and e-payment services.
— The Sun Daily

Holistic policies, adequate safety nets during crisis
Experts cautioned that the escalating trade conflict between the US and its major trading partners coupled with the strengthening of the US dollar are putting pressure on the short-term macroeconomic outlook, as well as posing significant policy challenges on Asian emerging markets economies, including Asean.
— The Borneo Post

Feature photo Andrew H

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