Malaysia Morning News For June 22

Malaysia Morning News For June 22
Estimated Reading Time: 6 minutes |

Malaysia morning newsMalaysia finance minister defends collecting public donations to help settle national debt
Malaysia Finance Minister Lim Guan Eng has defended the collection of public donations through the “Fund of Hope”, which he said will go towards settling the nation’s debt, including that of controversial state investment firm 1Malaysia Development Berhad (1MDB).
— Channel NewsAsia

Malaysia reopens inquiry into murder of Mongolian model by Najib Razak’s former bodyguards
Malaysia will reopen an investigation into the murder of a Mongolian model in 2006, the country’s police chief said on Thursday, in a case that could spell more trouble for former premier Najib Razak.
— South China Morning Post

Power Without Responsibility – Najib’s ‘Get Out’
People need to understand. Najib may have been an all-powerful prime minister and finance minister in charge of his ruling party and the country, but he was not responsible for anything.
— Sarawak Report

Najib always assumes people are stupid: Mahathir
Prime Minister Mahathir Mohamad said it was impossible for former premier Najib Razak to be unaware of the transactions involving state fund 1MDB as he had claimed as his signature was all over the related documents, Malay Mail reported.
— Thai PBS

Petronas committed to helping Sarawak become major oil industry player
Petroliam Nasional Bhd (Petronas) is committed to supporting Sarawak’s aspiration to become a major player in the petroleum industry and has so far invested RM183 billion in the upstream sector in the state alone via production sharing contracts (PSCs).
— The Sun Daily

Malaysia Airlines offers up to 40% off for its mid-year deals
Malaysia Airlines Bhd (MAB) is offering discounts of up to 40% on business and economy class to over 60 destinations in its Mid-Year Deals promotion.
— The Star Online

Malaysia’s foreign reserves stand at 107.9 bln USD
Malaysian central bank, Bank Negara, said Thursday that its international reserves stood at 107.9 billion U.S. dollars as of June 14.
— Xinhua

Malaysia to inject RM2.8 billion to complete TRX financial district
Malaysia on Thursday (Jun 21) said it will fund up to RM2.8 billion (US$697.9 million) to complete the development of Tun Razak Exchange (TRX), an integrated financial district in Kuala Lumpur from which more than RM3 billion was taken to pay off 1Malaysia Development Berhad (1MDB) debts.
— Channel NewsAsia

Malaysia’s Diplomacy Is Trapped in Mahathir’s Shadow
Last month, Malaysians voted for a change of government for the first time in their history, and handed power to a broad, untested coalition led by former Prime Minister Mahathir Mohamad.
— Foreign Policy 

Telekom falls to 2011 low on broadband price cut plan
Shares of Telekom Malaysia fell to a multi-year low of RM3.20 after the new federal government announced plans to cut broadband prices by 25% by year-end.
— The Star Online

Sapura Energy bags RM1.8b contracts for drilling, engineering services
Sapura Energy Bhd has secured contracts, including extensions to provide drilling and engineering services to several companies in Malaysia, India, Mexico and Australia totalling RM1.8bil.
— The Star Online

Japan First? Tokyo Welcomes Malaysia’s Repositioning on China
Mahathir chose Japan for the site of his first visit since retaking the prime minister’s office in Malaysia.
— The Diplomat (paywall)

KLCI slumps to 16 month low on selling of Telekom, Tenaga
Key Asian markets ended in the red on Thursday on gnawing worries about the US-China trade conflict while at Bursa Malaysia, the key FBM KLCI index fell to the lowest since February 2017 on selling of Telekom Malaysia and Tenaga Nasional.
— The Star Online

Dr Mahathir and institutional change in Malaysia
This was a historic moment for Malaysians, who saw Pakatan Harapan oust the ailing Barisan Nasional that had been gripping onto power for more than half of a century.
— The Malaysian Insight

Wise approach from Mahathir can benefit Malaysia and China
Since being returned as prime minister, Mahathir Mohamad has allowed pragmatism to prevail and he is all for Chinese investment as long as it is for the good of the nation.
— South China Morning Post

‘Frugal’ Dr M says he’s already rich, without debt or shares (VIDEO)
Succeeding the seemingly wealthy Datuk Seri Najib Razak, Prime Minister Tun Dr Mahathir Mohamad comes off as a prudent leader with his seemingly modest lifestyle ― from donning RM12 Bata sandals to shopping in budget chain Brands Outlet.
— Malay Mail

Malaysian palm oil price sees 4th day of falls on bearish trade sentiment
Malaysian palm oil futures fell for a fourth straight day on Thursday, hitting a two-year low, as weak sentiment persisted due to concerns about a trade war between China and the United States and on losses in U.S. soyoil.
— The Star Online

Zuraida welcomes private sector support for affordable housing
Housing and Local Government (KPKT) Minister Zuraida Kamaruddin welcomes the involvement of the private sector for affordable housing projects as she continues her efforts to improve the housing situation in the country.
— The Borneo Post

Sunway positive on 10pc growth in business performance this year
Sunway Group founder and chairman Tan Sri Jeffrey Cheah is positive on 10 per cent growth in the group’s performance, citing “dark storms” in the property market are in the past and “the weather is clearing up.”
— New Straits Times

BMW Group Malaysia appoints Regas Premium Sabah as newest dealer representative
BMW Group Malaysia yesterday appointed Regas Premium Sabah as its newest dealer representative for the brands BMW, MINI and BMW Motorrad in the state of Sabah.
— The Borneo Post

Aeon Wallet to be launched in August
Aeon Credit Service (M) Bhd is targeting to launch its cashless payment service Aeon Wallet in August, which will become another core business segment for the group.
— The Sun Daily

RAM: New Sabah regime to maintain supportive stance at state, federal levels
RAM Ratings sees common goals and policy alignments between Sabah’s new coalition state government and the Federal Government.
— The Borneo Post

Mavcom focused on passenger/consumer protection
In the face of criticisms against the Malaysian Aviation Commission (Mavcom), its executive chairman says the airline and airport industry regulator is more focused on passenger/consumer protection.
— The Sun Daily

Malaysia’s conservative Islamic party will not oppress other faiths
The Malaysian Islamic Party (PAS), a conservative Muslim political group that won an influential position in the May 9 general election, has no agenda to oppress people of other religions or links to radical religious groups, according Hadi Awang, the party’s president.
— Nikkei Asian Review (paywall)

 

Feature photo Bernard Spragg. NZ

 

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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.

 

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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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