Malaysia Morning News For June 20

Malaysia’s Ex-PM Faces Charges For Playing ‘Central Role” In 1MDB Scandal
Malaysia’s former prime minister Najib Razak will likely be facing multiple charges including for alleged embezzlement and bribery with government money following a probe into suspicions that he was involved in funds having been looted from state-run fund 1Malaysia Development Berhad (1MDB), Reuters cited incumbent Prime Minister Mahathir Mohamad as saying on June 19.
— Investvine

Walls around former Malaysian PM Najib Razak closing in
For years, former prime minister Najib Razak denied any wrongdoing in the 1MDB embezzlement case which involved the misappropriation of billions of taxpayer dollars.
— ABC News

Malaysia may extend tax breaks for key foreign investors: PM
Malaysia could extend new tax incentives for foreign investment in areas such as technology if companies promise to create better-paid jobs for Malaysians, Prime Minister Mahathir Mohamad said on Tuesday.
— Bangkok Post

M’sia has strong potential as data centre hub
Malaysia has a strong potential to become a regional hub for data centres as well as co-location (CoLo) providers on a myriad of factors including cheaper land, lower electricity cost and skilled workforce.
— The Borneo Post

Banks have flexibility to decide on borrower’s debt service ratio: Bank Negara
Banks have considerable flexibility to determine income sources and the appropriate debt-to-income level or debt service ratio (DSR) that borrowers can reasonably sustain, says Bank Negara Malaysia.
— New Straits Times

Malaysian palm oil price slumps to 2-year low tracking weaker soyoil
Malaysian palm oil futures slumped as much as 3 percent on Tuesday evening to their lowest in two years, tracking weakness in related edible oils.
— The Star Online

Malaysia, Japan keen to expand collaboration in various areas
Malaysia and Japan are keen to expand collaboration in various areas including disaster management and social protection policies, Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said yesterday.
— Borneo Bulletin

Top Glove Q3 earnings up 51% on record quarterly revenue
Top Glove Corp Bhd’s net profit jumped 51.3% to RM117.57 million for the third quarter ended May 31, 2018 against RM77.71 million in the previous corresponding period, underpinned by increased demand for gloves.
— The Sun Daily

Malaysia’s annual inflation seen quickening in May
Malaysia’s annual inflation is expected to have accelerated to 1.8 per cent in May, gaining from the previous month, according to a Reuters poll of nine economists on Tuesday.
— The Business Times

Full cabinet of Malaysian PM Mahathir to be confirmed in progressive coalition
Malaysia will step fully into Mahathir bin Mohamad’s second term as prime minister with the confirmation of his cabinet today.
— Foreign Brief

Let’s give Singapore some competition: Malaysia’s Finance Minister Lim Guan Eng
Malaysia’s Finance Minister Lim Guan Eng told a group of entrepreneurs on Tuesday (June 19) that it is time the country gave some healthy economic competition to its southern neighbour Singapore.
— The Straits Times

Malaysia falls three spots in world digital competitiveness
Malaysia has fallen three spots to 27th position in the IMD World Digital Competitiveness Ranking 2018, its lowest overall score in five years.
— The Sun Daily

Is PH willing to gamble away Malaysia’s economic stability, asks Umno
Umno has voiced its concern over the downward trend seen in Bursa Malaysia, which it says could affect the performance of fund investment entities if it is allowed to decline even further.
— New Straits Times

Malaysia and Singapore equities retreat further
Malaysia and Singapore equities fell further Tuesday as mounting concerns over escalating U.S.-China trade tensions speckled Asian markets with red ink.
— Nikkei Asian Review

Dr M: Let Malaysia continue occupying islands in South China Sea
Malaysia wants to continue occupying the islands we have called our own in the territorial disputes in the South China Sea, said Prime Minister Tun Dr Mahathir Mohamad (pic).
— The Star Online

Taib Hired Disgraced London PR Firm Bell Pottinger To Pose As ‘Concerned Young Sarawakians’
A major expose by America’s prestigeous New Yorker magazine into Britain’s former top PR company Bell Pottinger has revealed more ‘dirty tricks’ commissioned by Sarawak’s billionaire politician, Taib Mahmud against this website and affiliated radio station, Radio Free Sarawak.
— Sarawak Report

Slain Mongolian model’s father seeks Malaysia to reopen case
The father of a Mongolian model whose murder touched off a scandal in the highest levels of Malaysia’s recently ousted ruling party said Tuesday he will ask new Prime Minister Mahathir Mohamad to reopen the investigation into his daughter’s death.
— ABC News

Malaysia’s military involvement in Saudi-led war in Yemen must end – Lawyers for Liberty
Local human rights body, Lawyers for Liberty, says it is concerned with Malaysia’s military involvement in the Saudi Arabia-led coalition war against Yemen that started in 2015 and continues to this day.
— New Straits Times

Thunderstorms over Malaysia palm, China corn
Thunderstorms, heavy rain and strong winds expected over parts of Sarawak and Kedah on Tuesday, according to a warning by Malaysian Meteorological Department
— The Edge Markets

UK PLASTIC EXPORTS TO MALAYSIA TRIPLE FOLLOWING CHINA BAN
UK plastic waste exports to Malaysia have tripled in the first four months of 2018 following China’s ban on 24 grades of solid waste at the start of the year, according to the latest HM Revenue and Customs (HMRC) figures.
— Resource

Reduction in revenue sharing fee will aid airport development: MAHB
Malaysia Airports Holdings Bhd (MAHB) is seeking a lower revenue sharing fee from the government for its non-aeronautical revenue to fund its airport infrastructure development.
— New Straits Times

AirAsia Group refutes allegations against Fernandes
AirAsia Group Bhd (AAGB) has refuted allegations contained in a report to India’s Central Bureau of Investigation (CBI) against the group, its group CEO Tan Sri Tony Fernandes and deputy group CEO Bo Lingam.
— The Star Online

Tech industry top hirers in Malaysia, says online recruitment site
TECH companies in Malaysia were the most active recruiters from February last year to this year, said online career and recruitment site Monster.com in its latest report on the country’s employment index.
— The Malaysian Insight

Lay Hong allocates RM39 million as capex to boost broiler production
Lay Hong Bhd has allocated RM39 million as capital expenditure (capex) for the financial year ending March 31, 2019 (FY19) and is to be utilised to increase broiler production.
— The Sun Daily

Malaysia scores with expat families for education and healthcare
Malaysia is climbing the ratings for its ease of settling in for expat families.
— Emigrate.co.uk

Malaysian Gov’t Committee Partners With Korean Lab to Develop Sharia-Compliant Blockchain
South Korean blockchain lab IncuBlock has signed a Memorandum of Understanding (MOU) with a Malaysian government advisory committee for blockchain tech development permissible under Sharia law, local news outlet IT World reported yesterday, June 18.
— Coin Telegraph

Feature photo Bernard Spragg. NZ

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