Malaysia Morning News For October 31

Banks to report cash transactions above RM25k as at Jan 1, 2019
As at Jan 1, 2019, banks must report any cash transactions exceeding RM25,000 in their daily cash threshold report, a reduction from the current RM50,000 limit.
— The Star Online

Malaysia challenges US$5.78 billion settlement between 1MDB and IPIC
Malaysia will file a legal challenge to a 2017 consent award granted to Abu Dhabi fund IPIC in a debt dispute with scandal-hit state fund 1MDB, its attorney general said on Tuesday (Oct 30).
— Channel NewsAsia

Study: Most properties around MRT stations unaffordable for M40, B40 groups
A majority of housing projects built close to the MRT-SBK line are not affordable for the M40 and B40 groups, a think-tank says.
— Malay Mail

British woman charged with murdering her husband on Malaysian resort island of Langkawi
A British woman was charged Tuesday with murdering her husband, who was found stabbed to death at their home on the Malaysian resort island of Langkawi.
— South China Morning Post

CX Summit 2018 in Kuala Lumpur is bringing the regional CX community together
Ron Kaufman needs no introduction to the CX community and the Global No.1 Ranked Customer Service Guru will be at the Customer Experience (CX) Summit 2018 in Kuala Lumpur to deliver the keynote address on 14-15 November. Ron is expected to deliver his highly-charged Leadership Keynote.
— AEC News Today/ PR Newswire (media release)

Malaysia’s largest LSS project commences operations
Tenaga Nasional Bhd’s large scale solar (LSS) project in Mukim Tanjung 12 in Kuala Langat, Selangor, has begun operations with its first transmission to the national grid last week.
— The Star Online

Malaysia fiscal deficit may surprise market: BAML
Ahead of Malaysia’s Budget on Nov 2, Bank of America Merrill Lynch (BAML) analysts are expecting the country to surprise the market with a potential fiscal deficit of 3.5 per cent in 2019, up from 2.8 per cent in 2018.
— The Business Times

Minister backs law aimed at curbing economic sabotage
A federal minister said today he supports a proposed law aimed at curbing economic sabotage.
— Malay Mail

Why UN is creating a digital finance hub in Malaysia
Recently, I had the opportunity to meet with representatives from the United Nations Capital Development Fund (UNCDF), the UN’s capital investment agency working in the least developed countries (LDCs), to talk about their decision to set up the Digital Finance Innovation Hub in Kuala Lumpur.
— Tech In Asia

Budget expectations for a new Malaysia
BUDGET 2019 is expected to be a tough one –with potential new taxes, existing tax hikes and prudent spending given the government’s commitment to tackle the nation’s debt situation.
— The Star Online

Malaysia not completely ready to face challenges of an ageing nation
Malaysia is not completely ready to face reality as an ageing nation come 2030, according to a research finding by Kumpulan Wang Persaraan (Diperbadankan) [KWAP] and Malaysian Research Institute on Ageing (MyAgeing).
— New Straits Times

Malaysia’s early tsunami warning system adequate, Parliament told
The tsunami early warning system deploying tide gauges, beach cameras and siren system is sufficient to provide early warning to the people in the event of a tsunami.
— Malay Mail

Nestle Malaysia 3Q net profit rises 15pc to RM137.7m
Nestle (Malaysia) Bhd has reported a net profit of RM137.7 million in the third quarter ended September 2018, 15.7 per cent higher than RM119.01 million in the same period a year ago.
— New Straits Times

We welcome any FDIs that create value for Malaysia, says Azmin
Minister of Economic Affairs Datuk Seri Mohamed Azmin Ali said the Pakatan Harapan government welcomes any foreign direct investments (FDIs) into Malaysia from China or other parts of the world.
— The Edge Markets

Malaysia Airlines succeeds in bid to strike out MH370 suit
THE Kuala Lumpur High Court today allowed an application by Malaysia Airlines Bhd (MAB) to strike out a negligence suit filed by the next of kin of 32 passengers on board flight MH370, which went missing en route to Beijing from Kuala Lumpur on March 8, 2014.
— The Malaysian Insight

Singapore says Malaysia asked to postpone leaders’ retreat
Singapore has issued a clarification on the postponement of the 9th Singapore-Malaysia Leaders’ Retreat, saying that it was requested by Malaysia.
— The Star Online

Malaysia to make child car seats compulsory by 2020: Transport minister
Child car seats will be made compulsory for all private cars by 2020, Malaysian Transport Minister Anthony Loke said on Tuesday (Oct 30).
— Channel NewsAsia

Kimlun bags RM164mil Sunway Iskandar job
Kimlun Corp Bhd has secured a RM164mil contract awarded by Sunway Iskandar Sdn Bhd for a mixed development project at Medini Iskandar, Johor.
— The Star Online

Najib must answer on RM39.7m ‘allocation’ for Tamil schools – Maszlee
Education Minister Maszlee Malik once again hit out at Najib Abdul Razak over allocations for Tamil schools in the country.
— Malaysiakini

Ministry hasn’t confirmed number of gays in Malaysia, says Jakim
THE Health Ministry has yet to verify that the country’s gay population stands at 310,000, said the senior assistant director of the Department of Islamic Development Malaysia’s (Jakim) Family, Social and Community Unit.
— The Malaysian Insight

Recruitment in Malaysia: Probe role of 10 agencies
The High Court yesterday directed the government to form an inter-ministerial committee to investigate the monopoly of 10 recruiting agencies, which had been engaged in labour recruitment from Bangladesh to Malaysia, and submit the probe report in six months.
— The Daily Star

Mexter to build RM558m Wellness Valley in Pahang
Mexter Technology Bhd, which is already in the healthcare services industry, proposes to make the sector one of its core businesses following plans to develop the LYC Wellness Valley, in Genting Sempah, Pahang with an estimated gross development value of RM558.53 million.
— The Sun Daily

Coastal Contracts awarded US$4.35m in arbitration petition
A tribunal has ordered respondents proven of committing a breach of a memorandum of understanding (MoU) to pay Coastal Contracts Bhd US$4.35 million (RM18 million).
— The Sun Daily

Sabah Ports host PAM, MIA at Wisma Ports
Sabah Ports Sdn Bhd, a wholly owned subsidiary of Suria Capital Holdings Bhd, invited members of Persatuan Arkitek Malaysia Sabah (PAM) and Malaysian Institute of Accountants Sabah (MIA) to Wisma Sabah Ports’ headquarters building in Sepanggar Bay.
— The Borneo Post

No plans to criminalise marital rape: Malaysia deputy minister
The Malaysian government has no plans to make marital rape a crime because it is difficult to prove such cases in court, said Deputy Minister in the Prime Minister’s Department Mohamed Hanipa Maidin on Tuesday (Oct 30).
— Channel NewsAsia

Analysts remain positive on AirAsia on back of resilient 3Q
Analysts are remaining positive on AirAsia Group Bhd’s (AirAsia) outlook on the back of the group’s resilient third quarter of financial year 2018 (3QFY18) operating statistics.
— The Borneo Post

Budget 2019: Ambank expects more benefits for urban poor
AMMB Holdings Bhd (Ambank Group) expects to see more initiatives that will benefit the urban poor, including introducing a fixed nominal monthly fee for unlimited rides on public transport facilities, in the upcoming Budget 2019 announcement.
— The Edge Markets

Malaysia Digital Economy Corporation brings BetaPitch startup competition to SE Asia
In collaboration with Berlin-based co-working space betahaus, Malaysia Digital Economy Corporation (MDEC) will launch the pitching competition in Kuala Lumpur.
— Yahoo News

‘Scandalicious Malaysia’ injects mirth into financial crime conference
The annual International Conference on Financial Crime and Terrorism Financing (IFCTF) broke with tradition today, featuring Allan Perera and Indi Nadarajah of Comedy Court fame performing a 30-minute skit for over 1,000 delegates registered for the event.
— The Sun Daily

Monitor MPs’ property expansion too, Abu Kassim tells
The Governance, Integrity and Anti-Corruption Centre (GIACC) director-general Tan Sri Abu Kassim Mohamed said it is more important to monitor the parliamentary members’ property expansion during their tenure in the Parliament.
— The Sun Daily

RM36 mil funds: MyPPP lodges report with MACC
The MyPPP Supreme Council today lodged a report with the Malaysian Anti-Corruption Commission (MACC) on a claim by former party president M Kayveas that RM36 million was channelled to six members in the party.
— FMT

Mudajaya associate, PTC India inks 3-year power deal
Indian independent power producer RKM Powergen Pvt Ltd, an 18.93 per cent associate company of Mudajaya Corporation Bhd (MCB), has entered into a pilot agreement for procurement of power with PTC India Ltd to supply 550 MW of power for a period of three years.
— New Straits Times

Feature photo Tune Hotel

This week’s Malaysia morning news feature photo acknowledges World Cities Day, October 31.

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.