Malaysia Morning News For November 9

Malaysia approves RM61.6b in foreign, domestic investments till August 2018
Malaysia has approved RM61.6 billion in investments for foreign and domestic direct investments in the first eight months of the year, said Deputy International Trade and Industry Minister Dr Ong Kian Ming.
— New Straits Times

Malaysia’s oil overdependence threatens attempts to shed debt
The Malaysian government has expressed plans to narrow their YoY budget deficit from 3.7% to 3.4% next year. However, analysts at Fitch Solutions stated that their forecasts remain at 3.7% as they dread that the country’s continued dependence on oil revenues pose risks to the government’s fiscal consolidation plan.
— Singapore Business Review

Malaysia keeps rates unchanged as economy slows, spending cuts loom
Malaysia’s central bank kept its key interest rate at 3.25 per cent on Thursday, as expected, while eyeing a slowdown in economic growth and planned public spending cuts by the new government.
— Business Times

Malaysia shipping masterplan needs to be updated
The maritime industry policies such as the Malaysia Shipping Masterplan needs to be updated with elements of Industry 4.0 to strengthen the industry’s contribution to the economy.
— The Borneo Post

Public Bank partners Revenue Group to launch all-in-one digital payment platform
Public Bank Bhd, which today launched the all-in-one digital payment terminals in partnership with Revenue Group Bhd, is the first bank to roll out such an integrated payment terminal in Malaysia.
— The Sun Daily

Malaysia slaps provisional antidumping duties on galvanized iron from China, Vietnam
Malaysia has slapped provisional antidumping duties of 3.33% to 16.13% on galvanized iron imports from China and Vietnam, effective November 8 for about 120 days, the Ministry of International Trade and Industry said Thursday.
— S&P Global

Talks on East Coast Rail Link ongoing, says Daim
Talks on Malaysia’s proposed East Coast Rail Link (ECRL) project are still on going with the Chinese counterpart and Malaysia needs a little bit more time to address the issue, says Council of Eminent Persons Chairman Tun Daim Zainuddin.
— The Star Online

Proper studies needed on property crowdfunding, says Daim
The government has good intentions in introducing the property crowdfunding initiative, the first such financial innovation in the world, but proper studies need to be carried out, said the Council of Eminent Persons Chairman Tun Daim Zainuddin.
— Malay Mail

Malaysia’s sustained public accounts transparency is credit positive, says Moody’s
Malaysia’s Budget 2019 indicates greater transparency in the country’s public accounts and a focus on inclusive growth, which if sustained, will be credit positive, says Moody’s Investors Service.
— The Star Online

CIMB Research upgrades Malaysia Airports to Add
CIMB Equities Research has upgraded Malaysia Airports Holdings Bhd (MAHB) to Add, with a slightly higher sum-of-parts based target price of RM9.80, as it believes the 8% share price sell-off on Monday was on unwarranted fears.
— The Star Online

Najib to be questioned by MACC over RM1.25b solar panel project in Sarawak
Former Malaysian prime minister Najib Razak arrived at the Malaysian Anti-Corruption Commission (MACC) headquarters at 9.40am on Thursday (Nov 8) after being summoned again for questioning.
— The Straits Times

Malaysia least vulnerable to emerging market crisis, 2019 Budget indicates less support to economic growth: economists
The government’s strategies have led Malaysia to be among the least vulnerable to risk looming the emerging markets, economists said.
— New Straits Times

In third UN review, Malaysia to be grilled over death penalty, child marriages, FGM
Malaysia will face its third Universal Periodic Review (UPR) by the United Nations Human Rights Council (UNHRC) in Geneva, Switzerland tonight, even as the new Pakatan Harapan administration works to bolster the country’s human rights track record.
— Malay Mail

Industry 4.0 Embracing Digitisation: Malaysia well positioned
Malaysia has many unique qualities and skill sets that puts it in an ideal position to adopt Industry 4.0, maybe even more so than its Asean neighbours, says Fusionex International vice-president of new technologies Raju Chellam.
— The Edge Markets

Mahathir leans to Japan and away from China
“Malaysia is waiting to be your profit center,” declared Prime Minister Mahathir Mohamad during his November 7 address to corporate figures and captains of industry at the Malaysia-Japan Economic Association forum in Tokyo.
— Asia Times

Moody’s leaves Petronas ratings unchanged but lowers outlook to negative
Moody’s Investors Service has affirmed Petroliam Nasional Bhd’s (Petronas) A1 domestic issuer and foreign currency senior unsecured ratings, but changed the outlook from stable to negative.
— New Straits Times

MPI posts 20% jump in 1Q profit
Malaysian Pacific Industries Bhd (MPI) posted a strong 20.3% increase in net profit to RM63.25 million for the first financial quarter ended Sept 30, 2018 from RM52.59 million in the corresponding quarter last year mainly due to higher revenue.
— The Edge Markets

AirAsia to boost KK-Brunei connectivity with daily flights
AirAsia will enhance connectivity from Kota Kinabalu with daily direct flights to Bandar Seri Begawan, Brunei Darussalam starting 18 January 2019.
— The Borneo Post

5 Malaysian foods that do not actually belong to us
We Malaysians are a prideful lot when it comes to our food, not hesitating to get into verbal altercations with our neighbours over the origins of our favourite meals.
— FMT

Malaysia’s ex-governor of central bank quizzed over land purchase
Graft busters have questioned former Bank Negara Malaysia (BNM) governor Muhammad Ibrahim over the central bank’s controversial RM2 billion (S$659 million) land purchase from the Finance Ministry in January.
— The Straits Times

Cabbies give minister 2 weeks to meet them
A coalition representing over a hundred taxi drivers’ associations has threatened to continue protesting at the Ministry of Transport if its minister Loke Siew Fook fails to personally meet cabbies to hear their complaints.
— FMT

Hartalega Q2 net profit climbs to RM120mil
Hartalega Holdings Bhd recorded a higher net profit of RM120.2mil for the second quarter (Q2) ended Sept 30, 2018 from the RM113.7mil in the same period last year.
— The Star Online

Ranhill seals pact with IWK for joint billing of water supply and sewerage services in Johor
Ranhill Holdings Bhd’s subsidiary SAJ Sdn Bhd and Indah Water Konsortium Sdn Bhd (IWK) have entered into an agreement to implement joint billing for water supply and sewerage services in Johor.
— New Straits Times

Nextgreen, IHI, Nomura ink MoU for green technology investment partnerships
Nextgreen Global Bhd, Nomura Holdings Inc and IHI Corp have entered into a memorandum of understanding (MoU) to explore collaboration and investment for a green technology park in Pahang spanning 410 acres.
— The Sun Daily

Malaysian restaurant Momo King set to expand footprints in India
Bringing the authentic taste of Momos to India, famous Malaysian restaurant chain, Momo King has announced its expansion in India with its first Quick Service Restaurant (QSR) in Gurgaon.
— Economic Times

Frontken’s 3Q18 net profit jumps 65.29%
Frontken Corp Bhd’s net profit for the third quarter ended Sept 30, 2018 (3Q18) jumped 65.29% year-on-year (YoY) to RM15.19 million mainly due to improved performances by the group’s subsidiaries in Taiwan, Singapore, Malaysia and the Philippines.
— The Malaysian Reserve

M’sians Are The Most Respectful Towards School Principals According To This Global Survey
A study conducted by a global education charity foundation revealed that Malaysians have the highest regard for school principals out of 35 countries polled
— Says

Officials: Kurds Have Not Contacted Malaysia, Indonesia About Captured IS Fighters
Malaysian and Indonesian officials say they have not heard from the de facto Kurdish government in northern Syria about its claims that it has a large number of Islamic State fighters from those Southeast Asian countries and their families in custody.
— Benar News

Water purifier designed for Malaysians
South Korean water purifier manufacturer Coway has stepped up its game with the introduction of the first table top model with a large tank specially created for the Malaysian market.
— Malay Mail

Malaysia’s Lee eyes comeback after cancer treatment
Former world number one Lee Chong Wei is planning to return to badminton after successful treatment for nose cancer and has set his sights on winning gold at the 2020 Tokyo Olympics, he said on Thursday.
— Euro News

Guan Eng: Malaysia considers introduction of unexplained wealth law — report
Malaysia is looking at introducing legislation similar to the UK’s Unexplained Wealth Order (UWO), The Malaysian Insight reported today, quoting Finance Minister Lim Guan Eng.
— The Edge Markets

Bangladesh rescues 33 ‘Malaysia-bound’ Rohingya from sea
Bangladesh’s coast guard rescued 33 Rohingya and detained six alleged human traffickers from a fishing trawler headed for Malaysia in the Bay of Bengal, an official said yesterday.
— FMT

Feature photo Max Pixel

This week’s Malaysia morning news feature photo acknowledges World Science Day for Peace and Development, November 10.

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.