Malaysia Morning News For May 28

Malaysia Morning News For May 28

Malaysia morning newsRosie’s Billion Ringgit Bank Accounts
Sarawak Report has been warned Malaysians should be prepared for the discovery that the vast sum of money found at Najib’s property in the KL Pavillion building (RM114) was merely petty, housekeeping cash, compared to what the lady of the house was storing in her various bank accounts over the years.
— Sarawak Report

Malaysia Set To Scrap Showcase Infrastructure Projects
The new Malaysian government under Prime Minister Mahathir Mohamad is looking for ways to get out of obligations to pay for multi-billion dollar infrastructure projects initiated during the term of former prime minister Najib Razak.
— Investvine

Markets to stabilise with clarity in policies
Multiple factors are affecting the markets but the recent outflow of foreign funds from stocks has raised concerns from many quarters.
— New Straits Times

Malaysia asks businesses to lower prices after zero-rated GST
Malaysia’s Customs Department on Sunday asked businesses nationwide to follow through on a zero-rated Goods and Services Tax (GST), which will take effect on June 1, and cut prices.
— Xinhua

Fourth petition in a fortnight – this time Dr M’s nomination for Nobel Peace Prize
Mahathir Mohamad has become the subject of an online petition lobbying for the Prime Minister to be nominated for a Nobel Peace Prize this year.
— The Nation

Why Mahathir’s Malaysia is no financial fairy tale
As investors learnt the hard way in Pakistan, Russia, Qatar, Iran, South Africa, Lebanon and Brazil last year, political risk can eviscerate an emerging market bull run.
— Khaleej Times

Najib: Wow, Malaysia’s economy has changed within two weeks
Datuk Seri Najib Tun Razak is perplexed over the sudden change of the Government’s opinion over the state of Malaysia’s economy.
— AsiaOne

Listing of Petronas among options to increase revenue
THE government’s liabilities are out in the open. Finance Minister Lim Guan Eng revealed details to substantiate his point of national liabilities and debt have breached not only the RM1 trillion-mark but also reached 80.3% of gross domestic product.
— The Star Online

Graft-busting more important than Shariah Bill, Mat Sabu says
Putrajaya will prioritise rooting out corruption before even considering to amend the Syariah Courts (Criminal Jurisdiction) Act 1965, or Act 355, Defence Minister Mohamad Sabu said today.
— Malay Mail

In Malaysia, Calls for New Leaders to Revisit Old Abductions and Deaths
Pastor Raymond Koh was driving along a tree-lined suburban street near Malaysia’s capital 15 months ago when masked men in black SUVs forced his sedan to a halt.
— New York Times

Oil palm planters urge gov to reduce taxes and allow more foreign labour
Oil palm planters call on the new government for friendlier business policy by reducing taxes imposed on the sector and allowing more foreign worker intake as acute shortage has and continue to result in fruit wastage in the estates.
— New Straits Times

Malaysia’s new PM Mahathir thinks again about BRI debt with China
Malaysia is haggling over the terms of a $US14 billion ($18.55 billion) rail deal with its Chinese partners and can reduce its ballooning national debts by $50 billion by doing away with mega projects, its prime minister said in an interview published on Saturday.
— Financial Review

Telekom Malaysia Q1 profit shrinks 32%
Telekom Malaysia has reported a 32% slump in net profit for 1Q18 during what the operator termed a challenging quarter.
— Telecomasia

How digitisation is transforming Malaysia’s payments landscape
Mobile devices were made with the intention of simplifying communication between people.
— Bankless Times

Malaysia’s recent historic election has propelled Anwar Ibrahim – the long-standing political leader who has twice been jailed on sodomy charges – into the political limelight.
— Pursuit

Malaysia is once again sending relatives of those lost on MH370 on a ghastly emotional roller coaster ride with a stream of contradictory statements that have left many shattered.
— Airline Ratings

E&O reports higher earnings, revenue
Lifestyle property developer Eastern & Oriental Bhd’s (E&O) net profit rose to RM116.26 million in the financial year ended March 31, 2018 from RM90.92 million a year earlier.
— New Straits Times

Former DPM likens new government to ‘tempe’
Former Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has slammed the current Pakatan Harapan (PH) government for its inconsistency in stating facts.
— New Straits Times

Malaysia committed to RM201b of leasing payments over the next decades
The previous Barisan Nasional (BN) government has been intentionally and aggressively circumventing even the classification of ‘government guarantees’ by committing the government to lease payments amounting to RM201 billion over the next few decades, says Tony Pua, the special officer to Finance Minister Lim Guan Eng.
— The Edge Markets

Has MaGIC moved the needle for Malaysia?
THERE was a lot of buzz last Wednesday, May 23, about the future of the Malaysian Global Innovation and Creativity Centre (MaGIC) arising out of a question asked to Malaysian Prime Minister Mahathir Mohamad about the fate of certain government agencies.
— Digital News Asia

PIKOM backs Minister Gobind to further develop digital economy
The National ICT Association of Malaysia (PIKOM) has expressed confidence in new Communications and Multimedia Minister Gobind Singh Deo to further develop the Malaysian digital economy.
— New Straits Times

High public debt can hamper growth: AmBank Research
AmBank Research (AmResearch) which projects the gross domestic product (GDP) per capita recede by 0.007% with every 1% gain in public debt and debt service, also foresees a near-term volatility in the local and global equity markets, thanks to noises from the domestic and international front.
— The Sun Daily

Wah Seong’s NS2 project in Europe to complete in Q3 2019
Wah Seong Corp Bhd, an integrated energy infrastructure group, is actively executing the Nord Stream 2 (NS2) project involving gas pipeline coating and logistic contract in Europe, which is expected to be completed in the third-quarter (Q3) 2019.
— New Straits Times

Analysts: BN can change, but must quit denial syndrome first
Shellshocked Barisan Nasional (BN) needs to fully reform and accept the reality of its humiliating defeat in the recent GE14 in order to become an effective Opposition, analysts say.
— Malay Mail

Malaysia Electric Utility Vehicles Market Report and Industry Outlook 2022
Latest Malaysia Electric Utility Vehicles Market report that will help you to analyze the whole industry.
— The Clean Technology

M’sian playboy financier in cross-hairs after poll upset
Baby-faced playboy Jho Low, a financier at the centre of Malaysia’s 1MDB scandal, may find his days of hobnobbing with celebrities and splurging on property and art are numbered as the new government pledges to bring him to justice.
— The Borneo Post

IHH Q1 net profit down 88pct, revenue at RM2.85b
IHH Healthcare Bhd’s net profit plunged 87.8 per cent to RM57.24 million in the first quarter (Q1) ended March 31, 2018 from RM470.05 million recorded in the same quarter a year ago.
— New Straits Times

The European Union’s proposal to no longer recognise biofuel as a renewable energy source puts it on collision course with Malaysia and Indonesia, the two biggest players in the US$39 billion palm oil industry
— South China Morning Post


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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