Malaysia morning news for September 11

Malaysia morning news for September 11

Malaysia morning newsMalaysia Axes Chinese-Backed Pipeline Projects Worth $3-Billion
The Malaysian government has finally decided to cancel three China-backed pipeline projects after halting work on them, The Financial Times wrote. The report said that Malaysia’s finance minister Lim Guan Eng had sent a letter to “relevant parties” in Beijing to terminate the planned projects.
— Investvine

Singapore to return S$15 million in 1MDB-linked funds to Malaysia
A Singapore court ordered the return to Malaysia of about S$15.3 million, just a small portion of the total seized in the city-state as part of a probe into transactions linked to a scandal-hit state fund, lawyers for the fund and the Malaysian government said on Monday (Sep 10).
— Channel NewsAsia

Malaysia’s fuel oil, gasoil, naphtha output falls on year in July
Malaysia’s production of fuel oil, gasoil and naphtha fell year on year in July, while output of gasoline, kerosene, LPG and LNG rose, data from the Department of Statistics showed Friday.
— S&P Global

Increase in tourism a boon to local retailers
Malaysia’s retail sector is set to gain on the growth in tourism, says Malaysia Retail Chain Association (MRCA) president, Datuk Sri Garry Chua.
— The Borneo Post

WhatsApp hotline launched in Malaysia for complaints related to Sales and Services Tax
Members of the public in Malaysia can now lodge complaints related to the Sales and Services Tax (SST) by sending a WhatsApp message to 019-2794317, Domestic Trade and Consumer Affairs Minister Saifuddin Nasution Ismail said on Monday (Sep 10).
— Channel NewsAsia

A would-be city in the Malaysian jungle is caught in a growing rift between China and its neighbors
On a recent morning, cleaners rushed to sweep around models showing the future dreams of Forest City developers: residential skyscrapers, malls, parks, a Jack Nicklaus-designed golf course.
— Washington Post

Prices of most BMW vehicles fall after the SST reintroduction
Contrary to previous belief, prices of most BMW vehicles are cheaper now under the Sales and Service Tax (SST) than during the Goods and Services Tax (GST) regime, said the luxury German marque local dealer Ingress Auto.
— New Straits Times

Malaysia’s Sept 1 – 10 palm oil exports rise 63.0 pct – ITS
Exports of Malaysian palm oil products for September 1 – 10 rose 63.0 percent to 489,492 tonnes from 300,326 tonnes shipped during August 1 – 10, cargo surveyor Intertek Testing Services said on Monday.
— The Edge Markets

Malakoff, Concord sign agreement on renewable energy projects
Malakoff Corp Bhd has signed a joint development agreement with Concord Alliance Sdn Bhd today to explore and develop biogas based power generation projects.
— New Straits Times

Malaysia Pension Fund Returns 7.64% in Q2
Malaysia’s RM813.18 billion ($196.43 billion) Employees Provident Fund (EPF) reported a 7.64% increase in quarterly total investment income to RM12.39 billion for the second quarter ended June 30, from RM11.51 billion recorded during the same period last year.
— CIO

Growing markets, tech growth boost Shopback Malaysia
ShopBack’s unique business model provides a win-win situation for consumers, partner stores, as well as ShopBack — and it continues to grow thanks to growing market opportunities and constant technology enhancement.
— The Borneo Post

Malaysia luxury lovers divided: some hide their Hermes Birkins, others carry on shopping
The carnage following the country’s 1969 general election had left people with a perpetual fear of voting opposition. But on May 9 this year, Malaysians changed the script and wrote off a scandal-plagued government.
— South China Morning Post

Malaysia-Saudi Aramco venture seeks commitments for US$9.7bil project finance
Malaysia’s Refinery and Petrochemical Integrated Development (RAPID) project, a venture between Petronas and Saudi Aramco, is seeking commitments from banks for a $9.7 billion, 15-year loan, sources told LPC, a fixed income news service.
— The Star Online

Malaysia must be ready – the financial crisis is near: The Star columnist
The financial crisis affecting developing countries arrived in full-scale fashion in our region last week when the Indonesian economy experienced shocks reminiscent of the Asian crisis 20 years ago.
— The Straits Times

Thailand-Malaysia Military Relations in Focus With Army Exercise
The latest iteration of an exercise spotlighted the activity underway on the security side of bilateral ties.
— The Diplomat

Brent crude oil to stay between US$70-US$75
AmInvestment Bank Bhd (AmInvestment Bank) has maintained its 2018-2019 crude oil price forecasts at US$70 to US$75 per barrel, as revealed in its latest oil and gas sector report.
— The Borneo Post

The Government of Malaysia Launched a National Fundraising Campaign to Support Palestine Refugees
On 8 September, the Government of Malaysia launched a national fundraising campaign to support Palestine refugees through the United Nations Relief and Works Agency for Palestine refugees in the Near East (UNRWA).
— Reliefweb

Cashback trend continues to gain prominence in East Malaysia
There is growing interest in the cashback trend here in East Malaysia as can be seen in Shopback Malaysia’s rapid growth in users from Sabah and Sarawak.
— The Borneo Post

Marina: Struggle for human rights goes on in ‘New Malaysia’
The struggle to uphold human rights and dignity as well as social issues should continue despite Malaysia having a new government, says Datin Paduka Marina Mahathir.
— The Sun Daily

Malaysian diplomats preparing for Dr M’s visit to New York
Malaysian diplomats in New York are preparing an elaborate programme for the forthcoming visit of Prime Minister Tun Dr Mahathir Mohamed, who will also address the 73rd United Nations General Assembly (UNGA).
— Malay Mail

1,000 biz matching awaits Malaysians at CAEXPO 2018
The Malaysia External Trade Development Corporation (Matrade) is pushing to double the number of Malaysia-China business matching sessions to more than 1,000 during the 15th China Asean Expo (CAEXPO) 2018.
— The Star Online

Malaysia’s special envoy targets closer cooperation with China
Relations between Malaysia and China dated back hundreds of years and there are plenty of room for bilateral cooperation under the new Malaysian government, said the country’s newly appointed special envoy to China.
— Xinhua

Malaysia’s Ex-Prime Minister Says He Wants His Money Back
Money and valuables seized in police raids should be returned as no charges have been filed, Najib Razak said in a Facebook post over the weekend.
— Bloomberg

Malaysia: Markets closed on Monday and Tuesday for public holidays
Malaysian financial markets are closed on Monday and Tuesday due to public holidays. Tradings will resume on Wednesday, Sept 12.
— Business Times

 

Feature photo Michael Coghlan

 

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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