Malaysia morning news for November 16

Malaysia morning news for November 16

Malaysia morning newsPlastic waste a RM30 billion industry, Dewan Rakyat told
Plastic waste is a RM30 billion industry, and the government can ill afford to take this lightly, the Dewan Rakyat was told today.

What About Goldman’s Deals In Sarawak?
The full, disgusting extent of ingrained political corruption under BN continues to be displayed as more of the most prominent and vocal defenders of that regime are being rounded up to answer charges of theft and graft before the courts.
— Sarawak Report

Govt strives for more competition in local aviation sector
The government would not be protecting local airlines but rather encourage more competitions in the local aviation sector, said Transport Minister Loke Siew Fook.
— New Straits Times

A new electoral system for a new Malaysia
Ever since the Reformasi years after 1998, discussions on reform of Malaysia’s First Past the Post (FPTP) electoral system have taken up by scholars and activists.
— New Mandala

Malaysia to tighten regulations on child marriages
Malaysia will introduce laws to protect the interest and well-being of those involved in child marriages.
— Channel NewsAsia (annoying popups)

Gas Malaysia’s 9M core net profit below forecast
Gas Malaysia’s 9MFY18 core net profit came in below expectations, at 66% of CIMB Equities Research’s full year forecast and 70% of the Bloomberg consensus estimate.
— The Star Online

MITI identifying 500 SMEs for Industry 4.0 technology transition
The Ministry of International Trade and Industry (MITI) is identifying 500 small and medium enterprises (SMEs) to be placed under the fourth industrial revolution 4.0 (Industry 4.0) Readiness Assessment programme.
— The Borneo Post

Oil, commodities price dampener for Malaysia
Tumbling crude oil prices have stoked concerns over the government’s ability to meet its budget deficit target in 2019.
— The Star Online

Retail properties seen resilient, affordable housing in focus
Retail properties, especially shopping malls, are expected to remain resilient while affordable housing is still a focus in the property sector, analysts at AmInvestment Bank Bhd (AmInvestment) said following industry update from a recently held property seminar.
— The Borneo Post

Mahathir: RM30bil is nothing for Petronas
Prime Minister Tun Dr Mahathir Mohamad dismissed that Malaysia was more reliant on oil revenue and stated that Petroliam Nasional Bhd (Petronas) could afford to pay a bumper dividend without its operations being affected.
— The Star Online

Petron Q3 net profit falls nearly 20% to RM85.53m
Petron Malaysia Refining and Marketing Bhd’s net profit for the third quarter ended Sept 30, 2018 declined 19.3% year-on-year (y-o-y) to RM85.53mil from RM106.07mil a year ago due to a slowing demand from the commercial sector.
— The Star Online

Malaysia won’t sign RCEP unless it gets a fair deal, says source
It can be the world’s largest trade pact, but Malaysia will not sign the Regional Comprehensive Economic Partnership (RCEP) if it does not constitute a fair deal.
— Malay Mail

Property segment drives Tadmax to RM4.45m net profit in Q3
Tadmax Resources Bhd reported a net profit of RM4.45 million for the third quarter ended Sept 30, 2018 compared with a net loss of RM19.82 million a year ago, driven by the property business segment.
— The Sun Daily

Netflix Tests Cheaper Mobile-Only Plan in Malaysia
Netflix is testing a mobile-only subscription plan in Malaysia priced at roughly half its current basic plan in the country, the global leader in video streaming said on Wednesday.

Staggering RM384m owed to DBKL in assessment tax
A total of 41,503 commercial premise owners in the city will have their assets seized if they fail to settle arrears in assessment fees totalling RM182 million soon.
— New Straits Times

Maybank, CIMB give KLCI firm push
Fund buying of Maybank and CIMB helped push the FBM KLCI to a higher close on Thursday, extending its gains for two days while market sentiment was seen improving.
— The Star Online

Malaysia warns embassy move increases risk of terrorism
Malaysia has warned Australia that moving its embassy in Israel to Jerusalem will “add to the cause of terrorism”.

Malton reports drop in Q1 profit
Malton Bhd, the property developer controlled by tycoon Tan Sri Desmond Lim Siew Choon, posted a steep drop in net profit in the first quarter ended Sept 30.
— The Star Online

Penang moots new affordable housing scheme
The Penang government is looking at introducing a new affordable housing category where the units will remain government properties under a leasehold plan that will allow low-income earners to own homes and upgrade to larger units in the future.

Sime Darby looking to acquire hospitals to boost healthcare business
Sime Darby Bhd is looking to acquire hospitals in the region as part of plans to grow its healthcare business this year.
— The Star Online

IndiGo confident to secure large portion of low-cost travel in Malaysia
India’s largest low-cost carrier (LCC) IndiGo, is confident of securing a large portion of the low-cost travel market in Malaysia, despite highly intense competition from existing carriers.
— New Straits Times

Asia is prime for circular financing
The future is in green financing and Asia, including Malaysia, is poised to take a leadership position in this sector given its population growth and acceptance towards creative innovation.
— New Straits Times

Malaysia’s bold play against China
In the coming days, as world leaders travel to Singapore for the annual Southeast Asian summit, China will likely have a rather unpleasant development on its mind: increasing pushback across Southeast Asia of its growing economic influence, led by none other than Malaysia, a traditionally China-friendly nation.
— Washington Post

Selangor govt and REHDA awaits SC framework on affordable homes P2P funding
Selangor government and the Selangor branch of the Real Estate and Housing Developers’ Association (REHDA) await Securities Commission (SC) finalising the framework for peer-to-peer (P2P) financing of affordable homes, before they make an official stance.
— New Straits Times

Utusan sells Jalan Tiga land for RM18mil
Utusan Melayu (M) Bhd, the publisher of Utusan Malaysia, has proposed to sell a piece of industrial land in Kuala Lumpur for RM18mil to raise cash.
— The Star Online

Tomei sells skincare, cosmetics distribution business
Tomei Consolidated Bhd’s wholly owned subsidiary Flawless Skin Care Sdn Bhd (FSC) today sold its business of distributing the skincare and cosmetic products of “The history of Whoo” and “belif” as a going concern for RM8.97 million.
— The Sun Daily

Members retract suit against Malay Chamber of Commerce
The 17 members of the Malay Chamber of Commerce Malaysia (DPMM) who sought a court order for it to hold an extraordinary general meeting and explain the spending of a RM5 million allocation have applied to withdraw the suit.

Locally-produced electrical appliances have potential to penetrate West Asian market
The Gulf Conformity Marking Scheme was launched by SIRIM QAS International today, to enable locally-produced electrical appliances to tap into the West Asian market.
— New Straits Times

Dr M: Not easy, but Putrajaya will ratify conventions like ICERD
Amid backlash by some Malay-Muslims, Tun Dr Mahathir Mohamad conceded that it is not easy for Malaysia to ratify international human rights conventions such as the International Convention on the Elimination of All Forms of Racial Discrimination (ICERD).
— Malay Mail

PM’s upcoming Malaysia visit opportunity to cement bilateral ties: FO
Prime Minister Imran Khan will pay an official visit to Malaysia on November 20-21, 2018, accompanied by a high-level delegation, the Pakistan Foreign Office said in a press release on Thursday.
— Geo TV


Feature photo National Diabetes Institution

This week’s Malaysia morning news feature photo acknowledges World Diabetes Day, November 14.


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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