Malaysia morning news for October 19

Malaysia morning news for October 19

Malaysia morning newsMahathir to table Malaysia’s midterm review of five-year economic plan
Prime Minister Mahathir Mohamad is expected to table the midterm review of the 11th Malaysia Plan, a five-year economic blueprint, on Thursday (Oct 18).
— The Straits Times

Malaysia lets go of high income nation by 2020 dream
Malaysia will drop its long time dream to hit US$15,000 (RM62,300) per capita income by 2020 to meet its high income nation aspirations, as it now looks to ensure high income levels commensurate with higher purchasing power.
— The Sun Daily

Malaysia’s actual long-term debt is RM885.9 billion, says accountant
THE government, who has listed the national debt at RM1.087 trillion on its balance sheet, should note that its actual long-term debt is RM885.9 billion, says an accounting and consulting firm.
— The Malaysian Insight

Budget 2019 is based on US$70 oil
The government is estimating the 2019 Budget allocation based on average crude oil price of US$70 per barrel, although the benchmark Brent crude oil was nearing US$80 per barrel currently, said Prime Minister Tun Dr Mahathir Mohamad.
— The Star Online

How alcohol brands in Malaysia balance cultural sensitivities with sales revenue
There has recently been some kerfuffle in Malaysia surrounding Oktoberfest, with multiple media reports stating that Johor and Terengganu have banned related celebrations.
— Marketing Interactive

Government settles interest due on 1MDB Energy bond
The government has made the coupon payment amounting to US$50.31 million (RM208.80 million) due today as part of a settlement agreement with International Petroleum Investment Co (IPIC), due for the US$1.75 billion 1MDB Energy (Langat) Ltd (1MELL) bond.
— The Sun Daily

Smoking ban in Parliament stays, says health minister
Despite calls to lift the smoking ban in the Parliament building, Health Minister Dzulkefly Ahmad is sticking to his guns and said the decision would remain.
— FMT

Former Malaysia DPM Zahid Hamidi arrested by anti-graft agency
Malaysia’s former deputy prime minister Ahmad Zahid Hamidi was arrested by the country’s anti-graft agency on Thursday (Oct 18).
— Channel NewsAsia

Voting age in Malaysia to be lowered to 18
The government has agreed to lower the voting age to 18 from the current 21, according to the Mid-term Review of the 11th Malaysia Plan 2016-2020 report.
— The Edge Markets

Malaysia’s Kimanis crude supplies to drop in Dec
Malaysia’s exports of Kimanis crude oil are expected to drop to 10 cargoes in December, from 11 in the previous month, industry sources said on Wednesday.
— The Star Online

6,000 pieces of roti canai dough with illegal halal logo seized in Malaysia
Malaysian authorities have confiscated 6,000 pieces of roti canai dough and 360 pieces of chapati dough over an illegal halal logo, said Selangor’s Domestic Trade and Consumer Affairs Ministry on Wednesday (Oct 17).
— Channel NewsAsia

Economists brush aside need for capital controls in Malaysia
Pundits have brushed aside the need for capital control measures in Malaysia, a delicate subject matter that resurfaced after the governor of Bank Negara reportedly said that volatile Asian economies should be allowed to use capital controls to pre-empt financial crises.
— The Star Online

Employees in Malaysia enjoy only 12 days of vacation a year
According to global travel technology company Expedia’s latest study, out of the 19 countries surveyed for vacation deprivation, employees from 13 countries go on vacations for less than 20 days in a year.
— Human Resource Online

No official proposal from Malaysia on construction of ‘crooked bridge’: MFA
Singapore has not received “any official proposal or communications” from Malaysia on the construction of a so-called “crooked bridge” linking Johor and Singapore, the Ministry of Foreign Affairs (MFA) said on Thursday (Oct 18).
— Channel NewsAsia

Maxis posts RM513mil earnings in Q3 FY18
Maxis Bhd, which posted a net profit of RM513mil for the third quarter ended Sept 30, has declared a third interim dividend of five sen per share.
— The Star Online

Malaysia ready for prominence on SEA private equity and venture capital radar
THE completion of the big-ticket deals in Grab and Go-Jek has reinforced the tech sector’s role in pulling in private equity and venture capital money into South-east Asia.
— Business Times

Why Umno’s growing activism is no benchmark for activism in Malaysia
Before the historic election on May 9, most impressions of activism would have been linked with NGOs or civil society groups with ties to the opposition.
— FMT

Tenaga explores green energy projects along Senai-Desaru Expresway
Tenaga Nasional Bhd, together with two parties, plans to undertake green energy projects along the Senai-Desaru Expressway in Johor.
— New Straits Times

Ng Eng Hen welcomes Malaysia defence minister to Singapore during introductory visit
Minister for Defence Ng Eng Hen and his Malaysian counterpart Mohamad Sabu on Thursday (Oct 18) reaffirmed long-standing bilateral defence ties during the Malaysian minister’s introductory visit to Singapore.
— Channel NewsAsia

Why do we still have race-based economic policies, asks don
WHY is there still a need to have Bumiputera affirmative economic policies in a new Malaysia, asks Universiti Malaya political economy professor Edmund Terence Gomez, who warned that this race-based policy will deter foreign investors.
— The Malaysian Insight

Telekom Malaysia in talks with govt to solve Streamyx service issues
Telekom Malaysia has reiterated its commitment to enhance the broadband service of Streamyx customers. The operator reports that discussions with the Government and the Ministry of Communications and Multimedia are underway to address issues faced by Streamyx customers.
— Telecompaper

RHB Investment issues new call warrants over HK & China firms
RHB Investment Bank Bhd, the investment banking arm of RHB Banking Group, has issued 10 new call warrants over some of the world’s biggest Hong Kong and China companies.
— New Straits Times

The 2018 China-Malaysia Higher Education Exchange Conference in Shandong Province
On September 28th, the 2018 China-Malaysia Higher Education Exchange Conference was held at Qingdao Hengxing Institute of Technology.
— AEC News Today/ PR Newswire (media release)

Public service transformation still insufficient, says 11MP review
The transformation of the public service undertaken during the 2016-2017 period of review of the 11th Malaysia Plan (11MP) is insufficient as there are still many unresolved issues related to governance, transparency, integrity and accountability, it was reported today.
— Malay Mail

All-new Mercedes A-Class launched, prices from RM227,888
Mercedes-Benz Malaysia has unveiled the fourth-generation A-Class, with prices starting at RM227,888 for the A200 Progressive Line model.
— New Straits Times

Digi records higher 3Q net profit of RM392.54 million
Digi.com Bhd (Digi) recorded a higher net profit of RM392.54 million for the third quarter (3Q) ended September 30, 2018 from RM384.62 million in the same period last year.
— The Borneo Post

Capital gains tax will only dampen Bursa Malaysia performance, says MSWG
The Minority Shareholder Watchdog Group (MSWG) hopes the capital gains tax (CGT) will not be introduced in the near term as it will further dampen the performance of Bursa Malaysia, said chief executive officer Devanesan Evanson.
— The Borneo Post

Capital controls pressure only if reserves fall to US$80b level: AmBank Research
Currency peg pressure will only kick in if and when the reserves level approaches US$80 billion (RM332.1 billion) or six months of retained imports, AmBank Research opined.
— The Sun Daily

Health Ministry seizes unregistered medicines worth RM25.7m
The Health Ministry seized unregistered medicines worth RM25.7 million after carrying out more than 1,000 raids nationwide from January to September this year.
— Malay Mail

International Recognition for PETRONAS’ Leadership Programme
PETRONAS won three Brandon Hall Excellence Awards for its leadership development programme, Managerial Excellence (ME) at the 2018 HCM Excellence Awards.
— AEC News Today/ PR Newswire (media release)

Maybank Asset Management launches first feeder fund for exposure in Asian small-cap stocks
Maybank Asset Management Group Bhd (MAMG), which today launched the MAMG Asia Rising Stars Fund, said investors should look at investing in Asian small-capitalisation companies to benefit from the region’s growth prospects.
— The Sun Daily

New Malaysia, Mexico leaderships impetus to further flourish bilateral relations, says envoy
The new leaderships in the Mexican and Malaysian governments will give new impetus to flourish bilateral relations even further, says Mexico’s Ambassador to Malaysia, Carlos Felix Corona.
— Malay Mail

Break manifesto promises and prepare for ‘Malaysia Lama’
The phrase “Malaysia Baru”, synonymous with events that transpired on May 9 this year, is growing more and more popular by the day thanks to the many transgressions of the previous government coming to light which Malaysians are slowly coming to terms with.
— FMT

Gabungan AQRS makes RM17mil profit in Q3
Gabungan AQRS Bhd expects earnings to improve further next year, boosted by positive income from property development and construction division.
— The Star Online

 

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.

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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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