Malaysia Morning News For October 16

Malaysia ranked 55th in World Bank human capital index
Malaysia has been ranked 55th in the World Bank’s 2018 human capital index, lagging behind Singapore which topped the list.
— The Edge Markets

Survey: SST, debt revelation dampened Malaysian optimism over economy
Malaysian confidence in the country’s economic prospects took a dip in the last quarter as Pakatan Harapan’s (PH) lustre started to wear off, the Malay Economic Action Council’s (MTEM) Economic Confidence Score(MECS) survey has shown.
— Malay Mail

Vehicle sales skid in September as reality bites after GST tax holiday
Vehicle sales fell in September after the Goods and Services Tax (GST) tax holiday ended on Aug 31 while stocks of some vehicle distributors were depleted, according to the Malaysian Automotive Association (MAA).
— The Star Online

Sarawak-Indonesia trade sees 87 pct rise in 2017
Sarawak and Indonesia recorded an increase of 87 per cent in its total trade value to US$606 million last year compared with US$323 million in 2016.
— The Borneo Post

Mahathir-Anwar combo good for Malaysia, says Azmin
The joint forces of Prime Minister Tun Dr Mahathir Mohamad and PKR president-elect Datuk Seri Anwar Ibrahim as experienced leaders in the Pakatan Harapan government will make a great combination to drive the country forward, says Datuk Seri Mohamed Azmin Ali.
— The Star

Malaysia’s income gap doubled in two decades: Study
Despite a reduction in official income inequality, the absolute earnings gap between Malaysia’s top 20 per cent and their other countrymen has nearly doubled, putting more Malaysians in relative poverty.
— The Straits Times

Why Telekom Malaysia lost RM12 billion in market capitalisation
TELEKOM Malaysia Bhd (TM), whose share price has been on the decline since the Pakatan Harapan government took over in May, saw no respite last week. It slid further to close at RM3.08 on Friday, which translates into a year-to-date decline of 50% or a market cap loss of RM12.1 billion. Just a day before the May 9 national polls, it was trading at RM5.
— The Edge Markets

The 3 Malaysian agenda that Anwar should focus on
In all my work and writing during the past 20 years, readers will have noted that my major concern is for Malaysia to become a fully developed nation in all the key aspects of life – economic, socio-cultural, political and educational.
— FMT

Malaysia suspends chili imports from Viet Nam
The Ministry of Agriculture and Agro-Based Industry Malaysia (MOA) has announced plans to suspend imports of chilies from Viet Nam after detecting residue of chemicals used for plant protection exceeding the permissible level.
— Bizhub

3 lessons we can learn from Malaysia’s most visited ecommerce stores
The final quarter of the year is the season for Malaysia’s most popular online sale periods. This includes 11.11 (also known as Singles Day), Black Friday, 12.12, and other year-end sales. This is ecommerce’s most crucial period, where revenue and online traffic are set to double.
— Tech In Asia

One-size-fits-all policy-making will fail: Khazanah Research Institute
Wide disparity in income of households in different states means that one-size-fits-all policymaking without local context, will fail to perform, said Khazanah Research Institute (KRI) director of research Dr Suraya Ismail.
— The Sun Daily

Fund managers positive on Malaysia
Fund managers and analysts continue to be positive on Malaysia despite the World Bank cutting its gross domestic product (GDP) growth forecast for 2018 to 4.9% from 5.4% on the back of slowing export growth and lower public investment.
— The Star Online

Malaysia Youth and Sports Minister removes ‘bathtub’ post following backlash
Syed Saddiq Syed Abdul Rahman, who posted a photo of himself soaking shirtless in a bathtub on social media, has drawn criticism from Malaysians.
— AsiaOne

Malaysia released Uighurs because they did nothing wrong, says PM Mahathir
Malaysia freed 11 ethnic Uighur Muslims who fled to the Southeast Asian nation after a Thai jailbreak last year because they did nothing wrong there, Malaysian Prime Minister Mahathir Mohamad said on Monday (Oct 15).
— Channel NewsAsia

AirAsia may be signaling retreat to core markets
AirAsia Group Bhd will likely retreat to its core markets of Malaysia and Thailand with future growth plans likely to be curtailed and more targeted, said Maybank Investment Bank Research.
— The Star Online

Malaysians arguing with Indonesians over Petronas Twin Towers
Malaysians are now are arguing with Indonesia over something else – the Petronas Twin Towers .
— Asia One

Malaysian detained at Bangladesh airport with 7kg gold bars
Authorities in Dhaka have arrested a Malaysian who tried to enter the country with 7kg of gold bars with a market value of 35 million takas (about RM1.7 million).
— FMT

China’s navy to join Thailand and Malaysia for training exercise as military seeks to build bridges with neighbours
China and the United States are competing in a new round of military diplomacy in Southeast Asia this week, as Beijing plays catch-up in an effort to build trust with its neighbours, analysts said.
— South China Morning Post

Lynas seeks ‘plan B’ as Malaysia rare earths plant faces threat
Lynas, one of the world’s major suppliers of rare earths outside China, is searching for alternative locations in case it is forced to close the world’s largest processing plant of the material in Malaysia following a government review.
— Financial Times

September new car sales slip 23pct year-on-year
Malaysia’s new vehicles sales dropped 23 per cent year-on-year to 31,241 units in September from 40,956 units recorded 12 months ago.
— New Straits Times

Sunway Property develops Sunway Velocity Two worth RM2b
Sunway Property is developing Sunway Velocity Two on an 8.05-acre site in Cheras with a gross development value of RM2 billion.
— New Straits Times

Pestech’s second contract from Double-Track project garners positive views
Pestech International Bhd’s (Pestech) second contract win from the Gemas to Johor Bahru Double Track Electrification project has garnered positive views from analysts as it has further built up the group’s local participation for the signalling portion of the rail electrification.
— The Borneo Post

FPC discusses strategies to revive country’s financial position
The target and strategies to revive the country’s financial position within two years are among the main issues discussed at the inaugural Fiscal Policy Committee’s (FPC) meeting today.
— New Straits Times

Foreign labour has little impact in short term: Khazanah Research Institute
Khazanah Research Institute (KRI) found that the influx of foreign workers in the country has only marginal, if any, impact on both labour market outcomes and productivity in the short term but could be more pervasive in the long term in the country’s efforts to become a high-income economy.
— The Sun Daily

Feature photo Dhrra Malaysia

This week’s Malaysia morning news feature photo acknowledges World Food Day, October 16.

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.