Malaysia morning news for October 11

Malaysia morning news for October 11

Malaysia morning newsMost housing units launched in H1 cost RM500,000 and below
The proportion of residential properties launched in the price range of RM500,000 and below experienced a jump to 65 per cent of total launches in the first half of this year (H1 2018) compared with 52 per cent in the second half of 2017, according to a Real Estate and Housing Developers’ Association Malaysia (Rehda) survey.
— The Star Online

Govt to reduce direct equity ownership in companies
Finance Minister Lim Guan Eng said the government will reduce its direct participation in the equity ownership in companies and let the private sector take the lead in the economy.
— The Borneo Post

72 errant cops dismissed this year up to September — IGP
The police force dismissed 72 police personnel, among them superintendents and deputy superintendents, for various offences including corruption between January and September this year, the Inspector-General of Police Tan Sri Mohamad Fuzi Harun said yesterday.
— The Borneo Post

CIMB Investment Bank expects 4.6pct GDP growth in 2019
Treasury and markets group head Chu Kok Wei said the conservative projection was mainly due to the short term external volatility, in particular China and the US trade war.
— New Straits Times

Malaysia to table Bill to abolish death penalty in coming Parliament session, says its law minister
The death penalty will be abolished and there should be a moratorium on all executions until then, Datuk Liew Vui Keong said on Wednesday (Oct 10).
— The Straits Times

Malaysia palm oil inventory up 1.45% in September
Malaysia’s total palm oil inventories grew 1.45% to 2.54 million tonnes in September from 2.5 million tonnes in August, as palm oil output levels increased 14.4%, partly offset by a rise in exports.
— The Edge Markets

Malaysia courts interest on national car brand as Asean forges stronger ties to weather trade war
Malaysia’s third push to build a national car brand may see it sourcing parts from its South-east Asian neighbours, as the region forges stronger ties to weather out the US-China trade tensions.
— The Straits Times

Malaysia a top destination for China property buyers, says expert
A property market expert said Malaysia is a top destination for real-estate investment from China.

China tourists to Malaysia fall during Golden Week
Tourist arrivals from mainland China to Malaysia dropped by an about 30 per cent to 35 per cent during last week’s Golden Week break compared with the same period last year, according to industry players.
— The Straits Times

Nestle’s biggest Milo plant to be in Malaysia
Nestle (Malaysia) Bhd’s (Nestle Malaysia) factory in Chembong, Negeri Sembilan is set to undergo a RM100 million expansion that will turn it into the world’s biggest Milo manufacturing centre.
— The Edge Markets

Malaysia’s bond market among most attractive in emerging economies
The Malaysian bond market is one of the most attractive among the emerging economies, driven by robust fundamentals, current account surplus and rising commodity prices, a global investment management group said.
— The Star Online

MMC, Gamuda to remain steady despite MRT2 contract termination
Analysts are generally still optimistic on MMC Corporation Bhd (MMC) and Gamuda Bhd (Gamuda) despite the federal government recently terminating the MMC-Gamuda joint venture (JV) as the main contractor for the tunnelling works of Mass Transit Line 2 (MRT2).
— The Borneo Post

2 dead, several ill in Malaysia after eating laksa from stall in Kedah
Two people in Malaysia have died after eating laksa from a stall in Kupang, a town in the state of Kedah, the health ministry confirmed on Tuesday (Oct 9).
— Channel NewsAsia

Which contractor would dare sign contracts with PH now?
I refer to the FMT article saying: “Lim Guan Eng today played down concerns of potential job loss following Putrajaya’s termination of MMC-Gamuda’s contract to build the underground portion of the MRT Line 2 (MRT2).”

Malaysian businessmen say the shelving of joint projects by the administration of Mahathir Mohamad should be welcomed as the move could provide more transparency – and ultimately, more support for Belt and Road projects
— South China Morning Post

KLCI stumbles over 30pts in late afternoon on new taxes fears
Foreign fund selling hammered blue chips as worries about higher taxes – such a capital gains tax – cast a pall of gloom over the stock market on Wednesday, with the losses outpacing the regional markets.
— The Star Online

Plastrade Technology to buy 100% stake in EA Global Integrated for RM8m
Plastrade Technology Bhd is planning to buy 100% equity interest in EA Global Integrated Sdn Bhd for RM8 million to be satisfied via a combination of new ordinary shares in the company and cash.
— The Sun Daily

Race-based policy discourages domestic investments
Race-based policy does not encourage domestic investments in the country, said Universiti Malaya Political Economy Prof Dr Edmund Terence Gomez.
— New Straits Times

Top Gloves removes executive director Low Chin Guan
Shareholders of Top Glove Corp Bhd has approved a resolution removing Low Chin Guan as director of the company with immediate effect.
— The Star Online

Umno president Zahid Hamidi leaves anti-graft agency after over 8 hours of questioning
Former Malaysian deputy prime minister Ahmad Zahid Hamidi left the headquarters of the country’s anti-graft agency at 5.40pm on Wednesday (Oct 10), more than eight hours after he arrived for questioning in the morning.
— The Straits Times

Malaysia’s FD market least volatile: Aberdeen
Malaysia’s fixed deposit (FD) market is the least volatile and is very conducive for fund managers to construct multi-assets portfolio, said global investment company, Aberdeen Standard Investments.
— The Sun Daily

Connecting Malaysia digitally – a dream or reality?
GOBIND Singh Deo (pic) seems to have set some tough targets for himself and the telecoms industry players.
— The Star Online


Feature photo Pos Malaysia Berhad

This week’s Malaysia morning news feature photo acknowledges World Post Day, October 9.


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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