Malaysia Morning News For July 5

Malaysia Morning News For July 5

Malaysia morning newsMalaysia suspends construction of major Belt and Road rail project
The project owner of Malaysia’s US$20 billion East Coast Railway Link has told its main Chinese contractor to suspend work, both companies said on Wednesday (Jul 4), raising uncertainty about the future of part of China’s Belt and Road plan.
— Channel NewsAsia

Najib faces jail time after being charged in 1MDB case
Malaysian authorities have charged former leader Najib Razak with corruption and criminal breach of trust in connection with a multibillion-dollar scandal surrounding state fund 1MDB.
— The Asean Post

The Honesty Factor
Malaysia has dispensed with juries, meaning that concerns around issues of contempt and the potential for reporting to influence the outcome of trials are lessened.
— Sarawak Report

Passport of alleged 1MDB mastermind Jho Low cancelled by Malaysia
The Malaysian Immigration Department has cancelled the passport of alleged 1Malaysia Development Berhad (1MDB) mastermind Low Taek Jho, better known as Jho Low.
— The Straits Times

Malaysia mulls deporting detained Bangladeshis
Malaysia wants to deport the undocumented migrants detained in the ongoing crackdown which includes almost 250 Bangladeshis.
— The Daily Star

Najib’s charges not politically motivated: M’sian AG
In dismissing allegations of political persecution, Mr Thomas, who is leading the prosecution, told reporters that his team will be fair and even generous to Najib, The Malay Mail reported.
— The New Paper

Sarawak capable of hitting 2020 GDP target on time
While Malaysia could only reach its 2020 gross domestic product (GDP) target by 2022, analysts believe that Sarawak is capable of reaching its 2020 GDP target on time, given its sound economic growth and possible increase in investment flows in the state.
— The Borneo Post

Malaysian man who married Thai girl, 11, must face trial: rights expert
THE MARRIAGE of a Malaysian man to an 11-year-old Thai girl in Narathiwat province has clearly violated various Thai laws, a former UN committee member on the Rights of the Child said yesterday.
— The Nation

Misif: Electricity tariff hike will hamper industry recovery
The Malaysian Iron and Steel Industry Federation (Misif) is calling for the government to consider maintaining the rebate and abolish the surcharge for the imbalance cost pass through mechanism, as the additional energy costs will hamper the industry’s recovery, which is just emerging from the doldrums.
— The Sun Daily

Razer Pay launches in Malaysia
Razer™ (“Razer” or the “Company”, HKEX stock code: 1337), the world’s leading lifestyle brand for gamers, today launched the Razer Pay e-wallet in Malaysia, making its global debut in the heart of Kuala Lumpur. Razer Pay in Malaysia is a partnership between Razer Inc. and Berjaya Corporation Berhad.
— AEC News Today/ PR Newswire

Affordable 30Mbps unifi below RM100 for poorer folks, others get free upgrade says Telekom
Telekom Malaysia Bhd (TM) will introduce an affordable entry level unifi @ 30Mbps for targeted B40 segment of the population. This would be below RM100, which is more than 40% below the existing 30Mbps package.
— The Star Online

Perdana Petroleum gets CDRC to mediate with debt holders
Perdana Petroleum Bhd is getting assistance from Bank Negara Malaysia’s Corporate Debt Restructuring Committee (CDRC), which requires it to submit a proposed debt restructuring scheme within 60 days.
— The Sun Daily

Lodgis Acquires Two Historic Landmark Hotels in Cambodia
Lodgis Hospitality Holdings Pte. Ltd. (“Lodgis”), a leading fully integrated hospitality platform sponsored by Warburg Pincus and VinaCapital (the “Shareholders”), announced today that it has successfully completed the acquisition of two historic landmark hotels in Cambodia, the flagship Raffles Hotel Le Royal Phnom Penh (“Raffles Le Royal”) and the Raffles Grand Hotel d’Angkor Siem Reap (“Raffles Grand d’Angkor”) (collectively the “Raffles Hotels”).
— AEC News Today/ PR Newswire

Split Malay-Muslim loyalty a challenge for Malaysia Baru
In the immediate hours after Malaysia’s 14th General Election on May 9, the Pakatan Harapan’s (PH) surprise victory brought on a sense of euphoria that the Opposition success was made possible by an electorate that voted beyond ethnic boundaries.
— The Straits Times

AirAsia launches Ourshop with Plaza Bali as first partner
Asia’s leading low-cost carrier, AirAsia, today launched its new inflight digital marketplace, ‘’OURSHOP’’, with its first official airport partner Plaza Bali Duty and Tax Free, Jakarta.
— New Straits Times

Barakah gas pipeline job extended for one year
Barakah Offshore Petroleum Bhd’s gas pipeline contract from Petronas Gas Bhd has been extended for a year till Nov 30.
— The Sun Daily

CMS promotes free and competitive trade in Sarawak
In response to a motion moved by Pujut Assemblyman Ting Tiong Choon, Cahya Mata Sarawak Bhd (CMS) says that it is erroneous to say the company has a monopoly over the production and sale of cement in Sarawak.
— The Borneo Post

HLB celebrates customers’ digital innovation and experiences with Digital Day 2018
Hong Leong Bank Bhd (HLB) continues to see strong customer adoption of its digital platforms, with 48 per cent of its customers utilising digital and mobile platforms for banking transactions at the end of 2017, with digital transactions continue to grow at 73 per cent, lending strength to the Bank’s digital aspirations.
— The Borneo Post

TM’s new broadband price plans to have little impact on ARPUs
Telekom Malaysia Bhd’s (TM) new broadband price plans has been projected by analysts to have little impact on the group’s broadband average revenue per users (ARPUs).
— The Borneo Post

Bernas: Single gatekeeper mechanism works
Padiberas Nasional Bhd (Bernas) has provided a presentation to the Council of Eminent Persons on having better appreciation of the local rice industry, following the Government’s recent decision to terminate the company’s rice-import monopoly.
— The Star Online

Maxis enhances eCommerce capabilities to help drive its enterprise
Maxis has expanded its enterprise solutions offerings with new end-to-end Maxis eCommerce solution, which is specially targeted to SMEs in Malaysia to build, amplify, and optimise their ecommerce presence, as well as maximise revenue potential from within and outside Malaysia.
— The Borneo Post

Firm closing for KLCI as telcos, CIMB gain
Blue chips closed higher on Wednesday, supported by gains in telcos and CIMB, while the broader market showed more resilence as reflected improved investor confidence.
— The Star Online

IJM Land to launch projects with RM1.5b GDV
IJM Land Bhd is expected to launch new property projects with a gross development value (GDV) of about RM1.5 billion in the financial year ending March 31, 2019.
— New Straits Times

 

Feature photo Michael Coghlan

 

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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