Malaysia morning news for September 14

Malaysia morning news for September 14
Estimated Reading Time: 6 minutes |

Malaysia morning newsMalaysia Expects To Write Off Up To 70% Of 1MDB Losses
Malaysia’s finance minister Lim Guan Eng said that authorities have reason to believe that up to 70 per cent of the misappropriated money from state investment fund 1Malaysia Development Berhad of around $4.5 billion are irretrievable.
— Investvine

Gov urges industry players to support B10 biodiesel
The government has urged industry players, especially companies involved in the logistics, plantation and manufacturing sectors to support its efforts in increasing the domestic palm oil consumption through the use of B10 biodiesel.
— New Straits Times

Malaysia charges ex-PM Najib’s lawyer with money laundering
A lawyer representing former Malaysian prime minister Najib Razak was charged with money laundering on Thursday, as anti-corruption agents try to retrieve billions of dollars siphoned off from a scandal-plagued state fund.
— Asia One

Malaysia can grow 5% and handle its debts: Finance minister
Malaysian Finance Minister Lim Guan Eng said on Thursday (Sep 13) that the Southeast Asian country can sustain 5 per cent annual economic growth as its new administration reviews mega projects and copes with hefty debts left by the previous government.
— Channel NewsAsia

CIMB Bank offers 0.10 pct lower interest rate for new hybrid vehicle and GBI-certified residential properties
CIMB Bank Bhd (CIMB Bank) and CIMB Islamic Bank Bhd (CIMB Islamic) have rolled out preferential financing rates for new hybrid vehicles and residential properties certified under the Green Building Index (GBI).
— New Straits Times

One Airasia initiative cuts costs, says Tony Fernandes
AirAsia Group Bhd’s consolidation initiative, known as One AirAsia, that unifies its various regional affiliates under one holding company, provides the Group cost-efficiency whilst taking out the complexity and duplication in its operations.
— The Star Online

Malaysia, Singapore shares climb as banks gain
Malaysia shares rebounded Thursday and Singapore extended gains as news that the U.S. has proposed resuming trade talks with China lifted banking stocks.
— Nikkei Asian Review (paywall)

Indonesia, Malaysia learn strategy to handle terrorism from Philippines
Indonesia and Malaysia are jointly learning the strategy to handle terrorism in Marawi City, Mindanao, the Philippines, in order to handle terrorism comprehensively.
— Antara

Malaysia Airports celebrates uniquely Malaysian products with month-long campaign
Malaysia Airports Holdings (MAHB) has partnered with Malaysia Design Development Centre (DDEC) for a month-long campaign at Kuala Lumpur International Airport (KLIA) to showcase the best of Malaysian fashion, craft, delicacies and beauty products to a global audience.
— Marketing-Interactive

Malaysian palm oil price snaps losing streak on technical correction
Malaysian palm oil futures edged higher on Thursday evening to snap four sessions of declines on a technical correction and support from a strong demand outlook.
— The Star Online

Sapura Energy emerges as most active following disposal
Sapura Energy Bhd (Sapura Energy) emerged as the most active stock yesterday, following its announcement on the disposal of a 50 per cent stake in its exploration and production (E&P) arm, Sapura Upstream Sdn Bhd (Sapura Upstream).
— The Borneo Post

Malaysia finmnin says expects ringgit “to get better” in medium term
Malaysia’s finance minister said on Thursday he expected the ringgit to “get better in the medium term” after financial issues facing the Southeast Asian country are resolved.
— Reuters

Malaysian official: We ‘should try to take advantage’ of the US-China trade war while it can
Malaysia should take “take advantage” of the opportunities arising from escalating trade tensions between the U.S. and China, Malaysian Finance Minister Lim Guan Eng told CNBC on Thursday.
— CNBC

Minor improvements expected in CPO price
A lack of momentous price catalysts either given a likely seasonal production pick-up in the second half of 2018 (2H18) limits crude palm oil (CPO) price improvements, leading analysts to anticipate minor improvements in CPO prices in the near term.
— The Borneo Post

Reprieve for foreign workers in Malaysia
Foreign workers holding the Visit Pass — Temporary Employment (PLKS) for the past 10 years will be given a reprieve to continue working in Malaysia, said the country’s Human Resources Minister M Kulasegaran.
— The Daily Star

Proudly made-in-Malaysia products
SHARP Electronics (Malaysia) recently celebrated Merdeka Day by launching the My Aquos campaign at its office in Shah Alam.
— The Sun Daily

Shopee 9.9 Super Shopping Day records over 5.8 million orders per day
E-commerce shopping platform Shopee wraps up its biggest annual regional shopping event of the year, Shopee 9.9 Super Shopping Day, recording the highest-ever single day sales of over 5.8 million orders.
— New Straits Times

Malaysia secure spot in last eight in China
Malaysia booked their place in the last eight following a hard fought 3-0 win over Asian Games champions Hong Kong in the Women’s World Team Championships in Dalian, China.
— The Star Online

Malaysia Day tribute to historic election
Reigning Malaysian Film Festival Best actress Sangeeta Krishnasamy is playing an idealistic young school teacher yet again.
— New Straits Times

FGV suspends president/CEO Zakaria, notifies him of inquiry
FGV Holdings Bhd’s board of directors has suspended group president and CEO Datuk Zakaria Arshad from his duties for the second time, following a notice of inquiry issued to him, with the conclusion of internal investigations into 10 critical issues.
— The Sun Daily

BMW Malaysia delivers a fleet of BMW 530e Sport for CEPSI 2018 to TNB
BMW Malaysia has handed over a fleet of BMW 5 Series Hybrid with eDrive technology to Tenaga Nasional Bhd (TNB) for use at the Conference of the Electric Power Supply Industry (CEPSI) 2018.
— New Straits Times

El Nino could affect plantations by year end
A possible return of the El Nino cycle towards the year end could impact planters going into 2019.
— The Borneo Post

Bermaz Auto’s Q1 net profit more than doubles to RM50.28m
Bermaz Auto Bhd’s net profit for the first quarter ended July 31, 2018 more than doubled to RM50.28 million from RM20.21 million a year ago, largely due to higher revenue and improvement in gross profit margin from domestic operations, and higher share of profits from its associate company Mazda Malaysia Sdn Bhd.
— The Sun Daily

Conservation groups herald protection of tiger habitat in Malaysia
Tigers and other wildlife in Peninsular Malaysia now have a new refuge, as the state government of Terengganu recently axed plans to log more than 100 square kilometers (39 square miles) and created a state park instead.
— Mongabay

Nissan cars 1.4-3.4pct lower under SST
The new pricing for Nissan models in Malaysia will be up to RM5,400 cheaper after the Sales and Services Tax implementation, said Edaran Tan Chong Motor Sdn Bhd.
— New Straits Times

MNRB shareholders approve rights issue
Shareholders of MNRB Holdings Bhd approved the company’s proposed renounceable rights issue to raise about RM400 million today at an EGM which lasted for about two hours.
— The Sun Daily

Gosh Copenhagen makeup is now available in Malaysia
If you have ever flown on Emirates and admired the matte red lipstick worn by the cabin crew, it is these gorgeous lip colours that led to an inspiration for a range of matte lipsticks for Danish beauty brand Gosh Copenhagen.
— Star2

Act now for a sustainable environment
THE government has, for quite some time, shone its light on socio-economic issues of the country, and rightly so.
— New Straits 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

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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