Malaysia morning news for November 2

Malaysia morning news for November 2

Malaysia morning newsMalaysia climbs to 15th spot in World Bank Doing Business 2019 Report
Malaysia had climbed up to the 15th position in the World Bank Doing Business 2019 Report from its 24th position the year before.
— New Straits Times

Malaysia prepares austerity budget amid strains on fiscal deficit
MALAYSIA’S new government is set to deliver an austerity flavoured first budget on Friday, having unearthed more debt left behind by the previous administration, and needing extra revenue after ditching an unpopular consumption tax.
— Business Times

Malaysia’s October Manufacturing PMI drops to 49.2
The headline Nikkei Malaysia Manufacturing Purchasing Managers’ (PMI) — a composite single-figure indicator of manufacturing performance — dipped below the 50.0 no-change mark in October to 49.2 (from 51.5 in September) for the first time since July, signalling worse business conditions than in the previous month.
— The Edge Markets

MACC arrests former Immigration director, two staff for corruption
The Malaysian Anti-Corruption Commission (MACC) today arrested a former director of the Immigration Department with the title ‘Datuk’ and two staff on suspicion of corruption.
— Malay Mail

Marked fall in new orders sends Malaysia’s headline manufacturing index into negative territory
The headline Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance – dipped below the 50.0 no-change mark for the first time since July to signal worse business conditions than in the previous month.
— The Sun Daily

Petronas completes its first LNG supply to world’s largest LNG bunker vessel
Petronas through its subsidiary, Petronas LNG Ltd. (PLL), achieved a milestone with the successful completion of its first Liquified Natural Gas (LNG) supply operation at the Regasification Terminal Pengerang (RGTP) recently.
— The Star Online

Government looking into palm oil cess, taxes and levies
Primary Industries Minister Teresa Kok says her ministry is reviewing the numerous palm oil cess, taxes and levies being faced by industry players to ensure that the industry stays relevant and competitive.
— The Borneo Post

Maybank expects mobile banking transactions to exceed RM40b
Maybank, Malaysia’s largest banking group by assets, expects its mobile banking transactions to exceed RM40 billion this year compared with RM25 billion last year.
— Malay Mail

Mahathir makes last regional peace effort in Southern Thailand
During his years of retirement from 2003 to May 2018, Malaysian Prime Minister Mahathir Mohamad spent his time building mosques and an orphanage in Muslim-majority provinces in southern Thailand.
— Channel NewsAsia

Malaysia launches Industry 4.0 policy
The Fourth Industrial Revolution or Industry 4.0 has become common parlance on everyone’s lips nowadays. It represents a future which holds the promise of accelerated disruption and the birth of new technologies that stands to revolutionise our daily lives.
— The Asean Post

Multinationals may move manufacturing to Malaysia, says HSBC
MULTINATIONAL corporations and Chinese companies are considering moving their manufacturing base to countries like Malaysia, Cambodia, and Vietnam as a result of the ongoing United States-China trade war.
— The Malaysian Insight

1MDB: Ex-Goldman bankers and Jho Low face US charges
Two former Goldman Sachs bankers and Malaysian financier Jho Low have been hit with US criminal charges in connection with one of the world’s biggest financial scandals.
— BBC

Proton sales grow 12.6pc in October
Perusahaan Otomobil Nasional Sdn Bhd recorded a 12.6 per cent growth in sales for Proton cars in October following a market correction in September due to the introduction of Sales and Services Tax (SST).
— New Straits Times

Malaysia counts on tech to boost manufacturing
Malaysia yesterday unveiled a plan to boost its manufacturing sector through technology, hoping to attract investment in high-tech industries to counter slowing economic growth.
— The Straits Times

Malaysia’s transport minister clarifies Grab will not be banned
Malaysian transport minister Anthony Loke has reaffirmed that the government will not ban the operations of ride-hailing startup Grab in the country, despite protests by local taxi drivers against the startup.
— DealStreetAsia

Lim Guan Eng tops income list in Malaysia’s first public portal publishing declared assets of MPs
Lim Guan Eng tops income list in Malaysia’s first public portal publishing declared assets of MPs.
— Channel NewsAsia

Report: Malaysian politicians, officials paid bribes in recruitment of Bangladeshis
The Najib Razak-led government created a “manpower syndicate” which “monopolised” the recruitment of Bangladeshi workers to Malaysia, a Bangladesh newspaper alleged today.
— FMT

Malaysia has right to review water deal
Malaysia has maintained its stand that it has the right to review the 1962 water agreement, and will take efforts to do so, says Deputy Foreign Minister Datuk Marzuki Yahya.
— The Star Online

Yeo: Malaysia can save at least RM47bil over 15 years by being more energy efficient
The nation stands to save a minimum of RM47bil over the next 15 years if becomes more energy efficient, says Minister of Energy, Green Technology, Science, Climate Change and Environment Minister Yeo Bee Yin (pic).
— The Star Online

Outlook for Malaysian property market ‘to remain stable’
Malaysia’s property market outlook will continue to remain stable and healthy in coming years despite a decline in the asking price for homes in the latest PropertyGuru Market Index (PMI), said leading online property portal, PropertyGuru Malaysia.
— FMT

Malaysia shares buck gains in Asia ahead of 2019 budget
Malaysia stocks slipped Thursday amid heightened caution ahead of next year’s budget announcement, while Singapore shares extended gains mimicking other Asian markets as lenders rose led by Oversea-Chinese Banking Corp.
— Nikkei Asian Review

Concrete Engineering proposes two-for-three bonus issue
Concrete Engineering Products Bhd has proposed a two-for-three bonus issue of 29.85 million shares held by entitled shareholders.
— The Sun Daily

Deadline for appointment as Malaysia’s representative to AICHR extended to Nov 15
For the first time, the Foreign Ministry is extending an open recruitment for the position of Malaysia’s representative to Asean Intergovernmental Commission on Human Rights (AICHR).
— Yahoo news

Malaysia suspends 7 police officers after RM7.9 million goes missing from condo
Malaysia has suspended seven police officers after RM7.9 million (US$1.9 million) allegedly disappeared following a police search of a condominium unit in Kuala Lumpur.
— Channel NewsAsia

Bangladeshi worker recruitment: ‘Monopoly’ was mostly KL’s doing, say officials
The previous Najib Razak-led Malaysian government had created the manpower syndicate which “monopolised” the recruitment of Bangladeshi workers in the Southeast Asian country, according to officials and documents obtained by The Daily Star.
— The Star Online

Tasmania’s Environmentalists Rally In Solidarity With People Of Ulu Kelawit-Tatau
A protest has been organised by Tasmania’s environmental groups* outside the Hobart office of Ta Ann today, Thursday November 1st, in solidarity with the people of Ulu Kelawit, who have faced aggressive strong-arm and illegal tactics by Mukah police in reponse to a peaceful blockade.
— Sarawak Report

TNG Digital eyes 67,000 taxi drivers for Touch ‘n Go ewallet
TNG Digital Sdn Bhd targets to have 67,000 EzCab and independent taxi drivers registered with its Touch ‘n Go eWallet by end-2019 following its partnership with EzCab Sdn Bhd and Public Cab Sdn Bhd.
— Malay Mail

Dr M: Malaysia will only seek return of Jho Low’s jet if it is worthwhile
Malaysia will only seek to bring back the US$35mil (RM146mil) business jet linked to fugitive businessman Low Taek Jho if it is worthwhile, says Tun Dr Mahathir Mohamad.
— The Star Online

One-bedroom, SoHo units most difficult to rent out: Speedrent
The one-bedroom small office/home office (SoHo) is the most difficult to rent and has the lowest inquiries among many residential properties, according to home rental platform Speedrent.
— The Sun Daily

Why so many malls in Malaysia? One industry exec explains
Malaysia’s 500 or so malls could balloon to 700 by the end of next year. Although the public may wonder why developers persist in building more despite the abundance, Sunway Malls & Theme Parks chief executive Chan Hoi Choy explained that it is because a well-conceived shopping centre could be lucrative in the long run.
— Malay Mail

China firm to build RM8b resort off Labuan’s Kuraman Island
A Chinese investor is to spend a whopping RM8 billion to develop an international island resort and marina destination off Kuraman Island, creating 10,000 jobs for the oil and gas heavily-dependent duty-free-island.
— New Straits Times

Malaysia’s Star Media Group appoints Layout International as technology partner
Star Media Group, owner of The Star, Malaysia’s leading English daily, will partner with Layout International, an enterprise solution provider, to optimize its newspaper production cycle and at the same time accelerate the company’s transformation into multi-platform publishing and digital first news publishing.
— Khaleej Times

AirAsia Group to post subdued earnings?
AirAsia Group Bhd is expected to register subdued earnings for the quarter ended September 2018 mainly due to a weaker passenger load factor during the period.
— New Straits Times

Muslim group backs government ratifying ICERD
The Islamic Renaissance Front (IRF) has hit out at Malay and Muslim groups who oppose the ratification of a global treaty against racial discrimination, reminding them of the Quranic maxim to treat every human being as equal.
— FMT

 

Feature photo Tune Hotel

This week’s Malaysia morning news feature photo acknowledges World Cities Day, October 31.

 

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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