Malaysia morning news for September 13

Malaysia morning news for September 13
Estimated Reading Time: 7 minutes |

Malaysia morning newsMalaysia opposition blocks repeal of ‘fake news’ law in challenge to Mahathir
Malaysia’s opposition-led Senate blocked an effort to repeal a law against “fake news” on Wednesday (Sep 12), presenting the first major challenge for the new government of Prime Minister Mahathir Mohamad.
— Channel NewsAsia

Malaysia says no intention to abandon China’s BRI
Malaysia has no intention of abandoning China’s Belt and Road Initiative (BRI) and will continue to forge a closer relationship with the world’s second largest economy.
— The Star Online

Malaysia’s Anwar launches bid to return to parliament
Malaysia’s Anwar Ibrahim will contest for a seat in the country’s parliament, his party announced on Wednesday, as a party MP resigned to make way for the senior leader just months after their coalition won a shock May general election.
— Reuters

Malaysia’s market recovery augurs well for investors
THE Malaysian residential property market has experienced five consecutive years of slowdown in terms of declining sales volume since its peak in 2012. However, the falling sales volume did not drive down the total value of transactions until 2015.
— Business Times

Sunway secures 4.46 acres in Singapore to build condos
Sunway Bhd’s unit Sunway Developments Pte Ltd (SDPL) has secured a 4.46-acre land to undertake a S$271 million (RM817.17 million) executive condominium project from the Housing and Development Board of Singapore.
— New Straits Times

Fuel subsidy mechanism to be introduced early next year
The government is expected to announce a new mechanism for fuel subsidy early next year while ensuring that it would not require a huge allocation for the purpose.
— The Star Online

Red Bull empowering Malaysians to achieve greater productivity
Recent studies revealed that 61 per cent of Malaysian adults are physically inactive, pinning Malaysia on the globe as one of the least physically active countries.
— The Borneo Post

Low digital adoption among businesses
Digital adoption is relatively low for businesses, even though the country as a whole has a high level of digital adoption, with only a small share of businesses pursuing deep digital adoption and small firms falling especially far behind, on the backdrop of high prices and low coverage for broadband.
— The Sun Daily

Plastic, packaging sector’s capacity expansion plans on track
The plastic and packaging sector’s capacity expansion plans are on track, analysts observe, but also note that their main concern is margin compression.
— The Borneo Post

SEA requires up to 9,000 pilots in three years’ time
Malaysia Airlines Bhd (MAB) said overcapacity has led to a worldwide pilot shortage, further exacerbating the situation and hampering the carrier’s growth.
— New Straits Times

Sapura Energy to sell 50 pct stake O&G arm to Austrian firm
Sapura Energy Bhd has entered into a Heads of Agreement with Austria’s OMV Aktiengesellschaft (OMV AG) to form a strategic partnership through the acquisition of a 50 per cent stake in its unit, Sapura Upstream Sdn Bhd, at an enterprise value of US$1.6 billion (RM6.63 billion).
— The Borneo Post

Malaysia is just weeding out ‘dubious’ projects: Anwar
ANWAR Ibrahim, in line to become Malaysia’s next prime minister, sought to reassure foreign investors concerned about recent decisions to scrap several high-profile infrastructure projects in a bid to reduce debt.
— Business Times

Japan, Malaysia sign defence accord
Japan and Malaysia have signed an agreement to expand defence co-operation, the Ministry of Defense (MoD) in Tokyo has announced.
— Janes

Singapore’s ARA on lookout to acquire assets in Malaysia
Singapore-listed ARA Asset Management Ltd would consider acquiring retail, commercial and logistics properties in Malaysia, its chief executive officer for Malaysia Thomas Kong said, adding that these properties would have the potential to generate attractive and stable returns within a three- to five-year time frame.
— The Edge Markets

M’sian and Chinese parties in bid to take over Unisem
The founders of Unisem (M) Bhd John Chia, his son Alexander Chia, Jayvest Holdings and SCQ Industries (Malaysian parties) have offered to take over the company with some China-based partners for RM1.817bil after certain conditions are fulfilled.
— The Star Online

Malaysia police search for men caught on video putting pregnant cat in clothes dryer
Malaysian police are on the hunt for two men who were caught on camera putting a cat into a clothes dryer at a laundromat before turning the machine on.
— Channel NewsAsia

Maybank2u introduces digital financial planner for customers
Malayan Banking Bhd (Maybank), through its Maybank2u website, has introduced new digital financial planning tools to help customers plan their savings, monitor their insurance and keep up-to-date on their financial goals.
— New Straits Times

MyEG unit secures recruitment licence from Labour Dept
MyEG Services Bhd’s sub-subsidiary Agensi Pekerjaan MyEG Jobs Sdn Bhd has received a licence to conduct matters relating to private employment agencies from the Department of Labour of the Ministry of Human Resources.
— The Sun Daily

MAHB’s network of airports handled 11.8 million passengers in August 2018
Malaysia Airports Holdings Bhd’s (MAHB) network of airports including Istanbul Sabiha Gokcen International Airport (ISG) recorded a 2.9 per cent year-on-year (YoY) growth to 11.8 million passengers in August.
— New Straits Times

New cooperation needed to enhance South Korea-Malaysia trade
Malaysia and South Korea have to delve into new areas of cooperation to enhance trade and bilateral ties, the Secretary General of the Asean-Korea Centre, Ambassador Lee Hyuk said.
— The Borneo Post

Sapura Energy looking at stake sale, rather than IPO, for upstream unit
Sapura Energy Bhd president and CEO Tan Sri Shahril Shamsuddin said today it will look at selling a stake in Sapura Upstream Sdn Bhd, rather than a listing exercise, for certainty in timing and valuation.
— The Sun Daily

Alibaba’s Rural Taobao could give impetus to Malaysia
The Rural Taobao initiative by e-commerce giant, Alibaba Group, which has assisted villagers in China to increase their income, could be adapted and give impetus to Malaysians, said Malaysia Digital Economy Corporation Sdn Bhd (MDEC).
— The Edge Markets

CIMB’s Nazir Wants to See Clarity, Deficit Strategy in Malaysia Budget
Nazir Razak, chairman of CIMB Group, Malaysia’s second-biggest bank by assets, talks about the country’s and the region’s economies and policies, and the selloff in emerging markets.
— Bloomberg (video)

RAM reaffirms AAA(s) issue rating of Aquasar Capital
RAM Ratings has reaffirmed the AAA(s)/stable rating of Aquasar Capital Sdn Bhd’s (Aquasar Capital) RM1,500 million Sukuk Murabahah Programme (2014/2029).
— The Borneo Post

Ringgit expects to trade between 4.13 & 4.14 against US dollar
Economists expect the ringgit to trade between 4.1372 and 4.1390 against the US dollar this week due to the ongoing trade friction between the US and China as well as the direction of the Turkey’s central bank policy rate.
— New Straits Times

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

Cost the main impediment to growth of broadband in Malaysia: World Bank Group
Malaysia should adopt four important policy goals to unlock the full potential of its digital economy, which includes addressing its biggest impediment, the cost of broadband.
— The Sun Daily

5 beautiful Malaysian islands that offer travellers a slice of paradise
Malaysia may well be most popular and utterly loved for its delicious food and for being a melting pot of cultures.
— South China Morning Post

Apple slashes its iPhone 7 and iPhone 8 pricing in Malaysia
Following the announcement of the new iPhone XS, iPhone XS Max and iPhone XR, Apple has reduced its pricing for its older iPhone 7 and iPhone 8 models in Malaysia.
— Soyacincau

Concerns are growing that Malaysia is going backward in terms of religious freedom
Race and religion are included in the national identity card. The religious choices and practices of Muslims are subject to most restrictions.
— AsiaNews

Getting hotels to cater to healthcare travellers in Malaysia
A woman in dark sunglasses steps out of the car in front of a swanky hotel in the city, and the concierge rushes to her aid – wheelchair in tow.
— Star2

 

Feature photo Michael Coghlan

 

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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

junior writer/ trainee journalist at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations. She commenced as an intern and was appointed as a junior writer/ trainee journalist on April 2, 2018

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