Malaysia Morning News For June 14

Malaysia Morning News For June 14
Estimated Reading Time: 6 minutes |

Malaysia morning newsUS rectifies mistake after locating Singapore in Malaysia on website
The US State Department mistakenly made Singapore part of neighbouring Malaysia in a note issued in connection with Tuesday’s (Jun 12) North Korea-US summit and published on its website.
— Channel NewsAsia

Gas Malaysia announces gas price hike
Gas Malaysia Bhd (Gas Malaysia) has announced the revision of natural gas tariff to RM31.92/MMBtu from RM30.90/MMBtu for the non-power sector in Peninsular Malaysia effective July 1, 2018, to December 31, 2018.
— New Straits Times

Petronas completes first LNG break bulking ship-to-ship transfer
Petronas’ subsidiary, Petronas LNG Ltd (PLL) has successfully delivered its liquefied natural gas (LNG) cargo through its maiden break bulking ship-to-ship (STS) transfer in Brunei Bay, as part of its latest offering as a global LNG portfolio solutions provider.
— The Borneo Post

Malaysia has sufficient supply of rice — Agri Ministry
Malaysia faces no problems in terms of sufficient supply of rice in the country, the Agriculture and Agro-based Industry Ministry said today.
— The Edge Markets

Malaysia, Singapore shares slip as banks retreat further
Singapore and Malaysia shares slipped Wednesday amid persistent selldown in heavyweight financial stocks ahead of a widely-expected increase in interest rates by the U.S. Federal Reserve.
— Nikkei Asian Review (paywall)

Malaysia’s top 2 judges resign amid purge of top officials
Malaysia’s two most senior judges have resigned from their posts, as Prime Minister Mahathir Mohamad’s government purges top officials seen close to the previous administration.
— Channel NewsAsia

Moody’s maintains Malaysia’s debt at 50.8 pct of GDP
Moody’s Investors Service on Wednesday maintained Malaysia’s direct government debt at 50.8 percent of gross domestic product (GDP) in 2017, although the new government has introduced some policy uncertainty.
— Xinhua

Scrapping of rail project may hurt Malaysia: China Daily contributor
Soon after being elected Malaysia’s prime minister, Mahathir Mohamad cancelled the US$17 billion (S$22.7 billion) high-speed rail project linking the Malaysian capital of Kuala Lumpur and Singapore.
— The Straits Times

UK to help Malaysia recover assets, rebuild finances
The United Kingdom on Wednesday (Jun 13) expressed its willingness to help Malaysia recover illegal assets in its country.
— Channel NewsAsia

Malaysian govt’s fiscal policies pivotal to credit quality, says Moody’s
Fiscal measures are a particular area of focus for Malaysia given that the country’s high debt burden acts as a credit constraint, said Moody’s Investors Service.
— New Straits Times

Japan’s credit line will boost M’sia’s economic devt
The potential credit line from Japan will be used for Malaysia’s economic development and support small and medium-scale industries, the research arm of AmBank (M) Bhd (AmBank Research) has projected in its latest economics report.
— The Borneo Post

Malaysian Bank Customers Ready to Embrace Artificial Intelligence and Automation in Digital Banking – Unisys Banking Insights Survey
New research from Unisys Corporation (NYSE: UIS) into Malaysia’s banking industry reveals that Malaysian consumers are willing to embrace new bank services based on emerging technologies such as artificial intelligence (AI) and machine learning.
— AEC News Today/ PRNewswire (media release)

Grateful For Royal Pardon, But Anwar Yearns To See Civil Justice Also In His Case
Invited to speak at London’s Doughty Street Chambers, famous for its human rights focus, Anwar Ibrahim today stunned his audience by revealing that he has requested the firm to continue with the case they had drawn in his defence – even though he has now been fully pardoned and exonerated by the King.
— Sarawak Report

Neutral on industry if ECRL cancelled or delayed
Neutral impact is expected on ports and last-mile delivery players if the East Coast Rail Line (ECRL) is cancelled or delayed, according to analysts.
— The Borneo Post

Creating a better investing environment for Malaysia
“I AM getting the easier job as this is the best time to help create a better investing environment for Malaysia,” says Victor Chua (pic), newly elected president of the Malaysian Venture Capital Association or MVCA.
— Digital News Asia

BIGO announces possible acquisitions at its official Cube TV launch in Thailand, Malaysia and Vietnam
BIGO officially launches Cube TV in Thailand, Malaysia and Vietnam as part of its expansion strategy and has identified these 3 markets to be its key markets in South East Asia region. The app is focused on mobile gaming livestreaming, eSports arena and a game shopping mall and boast to give gamers in the region a step up in eSports arena.
— AEC News Today/ PRNewswire (media release)

Shell Malaysia gives out tenth round of grants for sustainable development
Shell Malaysia yesterday awarded financial grants to six non-governmental organisations (NGOs) and community based organisations (CBOs) who will undertake sustainable development projects that will benefit communities across Malaysia.
— The Borneo Post

Mavcom explains rejection of AirAsia’s application to increase flights on two routes
AirAsia’s application to increase frequency for its Kuala Lumpur to Haikou and Kota Kinabalu to Sandakan routes were rejected due to concerns of overcapacity, said Malaysian Aviation Commission (Mavcom).
— The Sun Daily

Malaysian cosmetics brand Dida is ready to take on the world
On this particular Wednesday at their office in Hartamas, Tengku Chanela Jamidah and Didie Nasir are in the mood for reflecting. It’s almost noon and typically, plans for where to eat would be underway, but the founders of Dida and their team are working through lunch during the fasting month.
— Star2

Johor Opposition leader welcomes decision to postpone HSR project
Johor Opposition leader Datuk Hasni Mohammad said the Pakatan Harapan Federal government made the right decision to postpone and not cancel the Kuala Lumpur-Singapore High Speed Rail (HSR) project.
— The Edge Markets

Ringgit slumps to lowest level in 5 months against US dollar
The ringgit declined to its lowest level since Jan 22, 2018 at today’s close.
— New Straits Times

CCCC has placed bank guarantees of RM10bil with MRL
China Communications Construction Co (CCCC) has furnished Malaysia Rail Link Sdn Bhd (MRL) with RM10bil of bank guarantees as commitment for it to complete the East Coast Rail Link (ECRL) project.
— The Star Online

Taming Malaysia’s GLC ‘monsters’
About a month before Malaysia’s parliamentary election in May, then-opposition leader Mahathir Mohamad raised concerns over the role that government-linked companies (GLCs) were playing in the economy, being ‘huge and rich’ enough to be considered ‘monsters’.
— East Asia Forum

Private healthcare operators’ earnings to display improvements in 2H18
Earnings of private healthcare operators are still expected by analysts to display further improvements from the second half of 2018 (2H18) onwards, on the back of organic growth.
— The Borneo Post

 

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

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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