Malaysia Morning News For June 27

Malaysia Morning News For June 27

Malaysia morning news13 new ministers on leaked Malaysia Cabinet list
Several Members of Parliament (MPs) whose names are said to be on a list of proposed ministers and deputy ministers that allegedly leaked on Monday night (Jun 25) appeared coy when pressed on the matter.
— Channel NewsAsia

Malaysia’s top cop confirms revamp of police force
Malaysia’s national police chief Mohamad Fuzi Harun has confirmed that the police force will be restructured, with three elite teams likely to be abolished, as previously reported by The Straits Times.
— The Straits Times

No ringgit peg for Malaysia for now; changing currency an option: Mahathir
There is no need to peg the ringgit at the moment although the country will study this as an option if needed, Malaysian Prime Minister Mahathir Mohamad told Channel NewsAsia on Monday (Jun 25), adding that his government is also mulling going cashless or changing currencies in a bid to combat corruption.
— Channel NewsAsia

Malaysia resumes exports of Bentara crude after output rises
Malaysia has resumed exports of Bentara crude oil after a hiatus as field upgrading increased oil output from the field, two industry sources said on Tuesday.
— The Star Online

Analysis: Malaysia’s belt-tightening resurrects age-old water dispute with Singapore
For over half a century, island-state Singapore has been getting half its fresh water from northern neighbour Malaysia – a deal that could be up for review as the new prime minister in Kuala Lumpur seeks to cut down on the country’s ballooning debt.
— The Star Online

Proton’s new SUV gets Malaysia PM Mahathir’s thumbs up; East Coast Rail Link contract should be re-negotiated, he says
Proton’s soon-to-be-launched sport utility vehicle (SUV) has received a rave review from Malaysia’s Prime Minister Mahathir Mohamad.
— The Straits Times

Facebook Malaysia hosts ‘retail day’ to help retailers grow
Facebook Malaysia recently hosted “Retail Day”, here, for 150 local retailer clients and partners, aimed at sharing industry mobile-first strategies that will help them unlock growth opportunities to reach the 22 million Malaysians already on Facebook.
— The Sun Daily

Ringgit to continue seeing near-term pressure but long-term growth
While the ringgit has started off the year strong with a continued strengthening against the US dollar (USD), it has recently weakened and ended up breaching the psychological level of 4.00 against the USD.
— The Borneo Post

RHB launches total online solution for SMEs
RHB Bank Bhd is the first financial institution in Malaysia to offer a total cloud-based all-in-one digital business solution for small and medium enterprises (SMEs) following the expansion of its RHB SME e-Solution digital business solution.
— New Straits Times

Malaysia’s 1MDB audits from 2010 to 2012 did not give ‘true and fair’ assessment, KPMG says
Auditors KPMG have notified Malaysia’s scandal-hit state fund 1Malaysia Development Berhad (1MDB) [TERRN.UL] that its audits for three years do not provide a “true and fair” assessment of the company, the fund said on Tuesday.
— Reuters

Will Malaysia End Its Military Presence in Saudi Arabia?
The new government is raising fresh concerns around an issue that has been under scrutiny.
— The Diplomat

PALM OIL PRODUCTION HAS ‘DECIMATED’ ANIMAL, PLANT LIFE IN MALAYSIA, INDONESIA: STUDY
Palm oil production has “decimated” animal and plant life in Malaysia and Indonesia, and threatens pristine forests in central Africa and South America, a leading international conservation group warned on Tuesday.
— First Post

GrabPay Officially Launched In Malaysia With 500 Merchants
Grab has officially launched GrabPay in Malaysia. The e-wallet was activated for use with Grab’s own ride sharing service last month, but it now available for use with over 500 merchants across the country.
— Lowyat

Sunway Property strengthens position to pursue growth in Singapore
Sunway Bhd’s wholly-owned property development unit in Singapore, Sunway Developments Pte Ltd (SDPL), announced today that it is disposing 30 per cent stake in Hoi Hup Sunway Novena Pte Ltd (HHSN) to Hoi Hup Realty Pte Ltd for SG$39.9 million cash.
— New Straits Times

‘Najib will face the consequences’: Mahathir
Datuk Seri Najib Tun Razak will face the consequences of any wrongdoing related to the 1Malaysia Development Berhad (1MDB) scandal if there is clear proof, said Tun Dr Mahathir Mohamad.
— AsiaOne

Gold in disfavour with investors
Gold is not a safe haven asset at the moment as reflected from its dwindling prices, according to OCBC Bank.
— New Straits Times

Can Japan learn from Malaysia too?
Japan, unknown to many, is a hybrid. It has an imperial system steeped in ancient Japanese culture and Shinto religion.
— Malaysiakini

Vincent Tan to divest entire stake in T7 Global
Tan Sri Vincent Tan Chee Yioun says he will be divesting his entire stake in T7 Global Bhd in light of the recent controversy over the East Coast Rail Line (ECRL) project.
— The Star Online

Construction of HSBC HQ ahead of schedule
HSBC Bank Malaysia Bhd (HSBC), one of the investors in the Tun Razak Exchange (TRX) project, is pleased with the contruction of their headquarters building in the financial district as it is ahead of schedule, said chief executive officer Stuart Milne.
— The Borneo Post

KPMG tells 1MDB board 2010-2012 audit reports ‘unreliable’
KPMG, one of four external auditors that 1Malaysia Development Bhd (1MDB) hired over the course of 2010 till 2017, has come out as the second auditor to void its audit reports on 1MDB, citing revelations in the declassified Auditor-General’s report on the state investment company.
— The Sun Daily

Eaglexpress, Suasa Airlines join AirAsia call to abolish Mavcom
Two charter airlines, Eaglexpress Air Charter Sdn Bhd and Suasa Airlines Sdn Bhd, have joined AirAsia in urging the new government to abolish the Malaysian Aviation Commission (Mavcom).
— The Star Online

Selangor Properties Q2 net profit lower
Selangor Properties Bhd’s (SPB) net profit fell 22.9% to RM6.63 million for the second quarter ended April 30 against RM8.6 million in the previous corresponding period, mainly due to fair value losses recognised for its overseas investment.
— The Sun Daily

‘Business as usual for oBike Malaysia’
The oBike bicycle-sharing service is still operating in Malaysia and many parts of the world.
— Free Malaysia Today

 

Feature photo Mohd Fazlin Mohd Effendy Ooi

 

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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