Malaysia morning news for October 26

Malaysia morning news for October 26

Malaysia morning newsMalaysia approves RM61.6 billion in investments this year
MALAYSIA approved RM61.6 billion in investments from January to August this year in both foreign and domestic direct investments, up a whopping 52.47% from RM40.4 billion recorded in the corresponding eight months of 2017.
— The Malaysian Insight

Construction sector to record slower growth in 2019
The country’s construction industry is expected to record slower growth next year amid revision of mega projects and in line with the slowdown in the global construction sector, said Works Ministry Secretary-General Datuk Seri Zohari Akob.
— The Star Online

Malaysia’s oldest newspaper The Malay Mail to cease print, go fully digital
Malaysia’s oldest newspaper, The Malay Mail, will print its last edition on Dec 1, as the tabloid goes fully digital in an increasingly challenging media industry.
— The Straits Times

Malaysia Will Have Almost 700 Shopping Malls Nationwide By the End Of 2019
Malaysia, especially the Klang Valley, is seeing a major influx in malls over the next few years. According to the New Straits Times, Malaysia currently has around 560 shopping malls nationwide, amounting to about 135 million square feet.
— World of buzz

Govt receives 21 proposals for third national car project
The government has received 21 proposals from both local and foreign firms for the third national car project, up from the previous 14 announced earlier, said International Trade and Industry (MITI) Deputy Minister, Dr Ong Kian Ming.
— The Star Online

Public Bank’s Q3 profit down 1.5% to RM1.38b
Public Bank Bhd’s net profit slipped 1.5% to RM1.38 billion for the third quarter ended September 30, 2018 compared with RM1.4 billion in the previous corresponding period, due to the absence of a one-off capital gain on investment of RM43 million.
— The Sun Daily

Soft Space to pilot smartphone acceptance of debit card payments in Malaysia
Soft Space, in collaboration with MyDebit, Malaysia’s national debit scheme operated by Payments Network Malaysia (PayNet), will pilot Fasstap, a fintech solution that could potentially allow small businesses and sole proprietors to accept card payments at minimal cost.
— Tech in Asia

Taiwan Expo targets US$50m trade leads from Malaysia
The Taiwan Expo 2018 in Malaysia, which opened this morning, is targeting to achieve US$50 million in trade leads, from US$36 million last year.
— The Sun Daily

Growing middle class and Malaysia’s economic progress spur air travel growth
Malaysia’s growing middle class population and economic progress are leading to a steady growth in the demand for air travel.
— New Straits Times

Minimising disaster impact with digital solutions
The tragic earthquake of 2015 – and another one just this past March – makes it increasingly relevant to the construction industry in East Malaysia to include seismic considerations when it comes to construction.
— The Borneo Post

Malay dominance remains despite UMNO’s rout
Analysts of Malaysia’s 14th general election (GE14) agree that the ruling Barisan Nasional (BN) suffered a humiliating defeat. But there is less unanimity that this also applied to the dominant party in BN, the United Malays National Organisation (UMNO).
— New Mandala

No favouritism in giving citizenship, Putrajaya assures
The government has assured there is no favouritism in approving citizenship applications, saying the process is strictly based on laws to determine one’s eligibility to become a Malaysian citizen.
— FMT

Malaysia throws away 3,000 tons of food each day, Parliament told
Food which can feed two million hungry Malaysians goes to waste and is thrown away each day, says Datuk Seri Saifuddin Nasution Ismail.
— The Star Online

Malaysia’s Ex-PM, Former Treasury Official Charged With Misuse Of $1.6 Billion
Malaysia charged ex-premier Najib Razak and one of his former top treasury officials with six counts of criminal breach of trust, accusing them of misusing 6.6 billion ringgit ($1.6 billion) of public funds, including 1Malaysia Development Berhad (1MDB), Bloomberg News reported.
— Investvine

‘Don’t force’ LGBT rights on Malaysia, Mahathir says
Malaysian leader Mahathir Mohamad on Thursday (Oct 25) said his country cannot accept LGBT rights such as same-sex marriage, dismissing them as “western” values.
— Channel NewsAsia

LNG tankers stranded off Singapore, Malaysia as demand outlook weakens
A fleet of half a dozen tankers carrying unsold liquefied natural gas (LNG) has been floating in Singapore and Malaysian waters for up to two weeks as winter demand in Asia looks weaker than initially expected, traders said on Thursday (Oct 25).
— Channel NewsAsia

Takaful Malaysia’s net profit for Q3 jumps to RM82.78m
Syarikat Takaful Malaysia Keluarga Bhd’s net profit for the third quarter ended Sept 30, 2018 jumped to RM82.78 million from RM48.21 million, previously.
— New Straits Times

Malaysian assemblyman hit by mysterious illness, black magic suspected
Parti Keadilan Rakyat’s first-term Pilah assemblyman Mohamad Nazaruddin Sabtu, who has been missing in action, is not quitting politics but is fighting a mysterious illness that may apparently be linked to black magic.
— Asia One

Restive South tops agenda of Mahathir’s visit to Thailand
Malaysia has long acted as a facilitator for brokering peace talks between the Thai government and Mara Patani, an umbrella group that claims to be the political wing of a shadowy network of rebel fighters clashing with state forces.
— The Straits Times (annoying popups)

Late fund buying shores up KLCI, tech stocks routed
Late fund buying helped the FBM KLCI close off the lows on Thursday, in line with most key Asian markets, but tech stocks were routed following the tumble in the US.
— The Star Online

Saudi minister who corroborated Najib’s ‘donation’ claim in Malaysia to meet Dr M
Saudi Arabia’s Foreign Minister Adel Ahmed Al-Jubeir – who in 2016 corroborated the claim that billions of ringgit transferred to former prime minister Datuk Seri Najib Razak’s personal account was a ‘genuine donation’ – arrived in Malaysia yesterday for a three-day visit.
— New Straits Times

Ajiya 3Q net profit surges on sale of Thai property
Ajiya Bhd’s net profit surged more than 14 times in the third quarter ended Aug 31 to RM16.8mil from RM1.2mil a year ago due to one-off gain from the sale of its property in Thailand.
— The Star Online

PDZ Holdings disposes vessel for US$1.53m
PDZ Holdings Bhd has disposed of its vessel, PDZ Mewah, as part of its long-term vessel replacement programme for US$1.53 million (US$1=RM4.17) to Somap International Pte Ltd.
— New Straits Times

Malaysia will welcome any effort to find Jho Low, says Dr M
The government welcomes effort by anyone who could establish contact with fugitive Jho Low and bring him home, said Dr Mahathir Mohamad.
— FMT

SME Corp hopes adequate budget for development
SME Corporation Malaysia (SME Corp) hopes the upcoming Budget 2019 would set aside an adequate allocation for SME development programmes under different ministries and government agencies.
— The Borneo Post

Selangor Properties’ major shareholder seeks for company’s privatisation
Selangor Properties Bhd’s (SPB) major shareholder Kayin Holdings Sdn Bhd has proposed to take the company private following the suppressed property market in the past few years.
— New Straits Times

Ministry studying plans to amend Strata Management Act
The Housing and Local Government Ministry is studying proposals to amend the Strata Management Act 2013 (SMA 2013) but there is no definite time line when something conclusive can be announced.
— The Star Online

Paramount to dispose three campuses worth RM420m
Paramount Corporation Bhd’s wholly-owned units plan to dispose three KDU campuses worth RM420 million to Dynamic Gates Sdn Bhd.
— New Straits Times

Major shareholders bid to take SPB private for RM622.27m
Kayin Holdings Sdn Bhd, the major shareholder of Selangor Properties Bhd (SPB), has proposed a capital reduction and repayment exercise in a bid to take the company private.
— The Star Online

MMHE posts RM22.72m net loss in Q3
Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) fell into the red registering a net loss of RM22.72 million for the third quarter ended September 30, 2018 against a net profit of RM16.41 million in the previous corresponding period, as the marine segment swung to losses.
— The Sun Daily

TCC Group says has taken initial steps in TRX investment
Thai Charoen Corporation (TCC) Group Chairman Tan Sri Charoen Sirivadhanabakdi says its subsidiary, Frasers Property, has taken initial steps to look into possible investment in Tun Razak Exchange.
— New Straits Times

Cops rescue 3 family members of Malaysian terrorist in Syria
Police managed to rescue three family members of a Malaysian Islamic State (IS) terrorist left stranded in Syria and brought them back safely to Malaysia on Oct 6.
— FMT

Repay loans to allow others same chance, Dr M tells students
Tun Dr Mahathir Mohamad has today appealed to Malaysian students to repay their study loans, to allow future generations the same opportunity they had.
— Malay Mail

 

Feature photo One Bonsai

This week’s Malaysia morning news feature photo acknowledges World Day for Audiovisual Heritage, October 27.

 

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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