Malaysia morning news for September 25

Malaysia morning news for September 25

Malaysia morning newsMalaysian finance minister tells developers to cut prices, says no foreigners-only townships
Malaysia’s Finance Minister Lim Guan Eng on Monday (Sep 24) told developers to reduce residential prices, and warned them against building projects exclusively for foreigners.
— Channel NewsAsia

The State of the Nation: Considerations in reforming Malaysia’s tax system
LAST Friday, Finance Minister Lim Guan Eng announced the appointment of Tan Sri Hasmah Abdullah as chair of the newly established Tax Reform Committee. This followed his announcement weeks earlier of the setting up of the committee, along with a public finance committee, tasked with helping to reduce the country’s fiscal deficit, among others.
— The Edge Markets

Sapura Energy bags contracts worth RM815mil
Sapura Energy Bhd has secured three new contracts and a contract extension valued at approximately RM815mil in Australia, Brunei, Malaysia and Nigeria, bringing the group’s total value in contract wins in the current financial year to-date to RM5.3bil.
— The Star Online

Developers won’t enjoy SST exemption if house prices not reduced: Finance Minister
The government will take back sales and services Tax (SST) exemption on local property developers if property prices are not reduced.
— New Straits Times

Carlsberg, Heineken weigh in on SST impact on Malaysian beer industry
Malaysian beer industry leaders Carlsberg Brewery Malaysia Bhd (Carlsberg) and Heineken Malaysia Bhd (Heineken) have expressed varying opinions about the implementation of the Sales and Service Tax (SST).
— Food Navigator

Bursa Malaysia revises sector classification, indices
Bursa Malaysia Bhd today introduced five new sectors, among other changes, to the stock exchange’s sector classification and sectorial indices, aligning its sector classification with internationally recognised standards.
— The Sun Daily

Malaysia’s CIMB says chairman Nazir Razak, brother of Najib, to step down by year end
Datuk Seri Nazir Razak will end nearly three decades at Malaysian banking giant CIMB on Dec 31, continuing a string of top guns who have exited government-linked companies (GLC) since Pakatan Harapan took power in May.
— The Straits Times

Economist: Malaysia to grow 4.5-5.5% in 2018 and 2019
Malaysia’s growth trajectory is expected to remain stable at 4.5 to 5.5 per cent this year and in 2019 despite fiscal restructuring and consolidation, thanks to sustained private sector and export demand.
— The Star Online

Bagless vacuum inventor Dyson may invest more in Malaysia says Dr M
Sir James Dyson, billionaire British inventor of the bagless vacuum cleaner, has expressed interest in bringing new investments into Malaysia and enhancing the capability of Malaysian engineers, said Tun Dr Mahathir Mohamad.
— The Star Online

Malaysia Airlines unveils new flight booking chatbot in partnership with Amadeus
Malaysia Airlines, together with Amadeus, has launched MHchat, a new feature which helps travelers book flights and pay through the popular social media app, Facebook Messenger.
— New Straits Times

Orangutans saved as Malaysia foils high-seas smuggling bid
A pair of young orangutans, baby crocodiles and rare birds were among more than 400 animals rescued from a boat off Malaysia as they were being smuggled from neighbouring Indonesia, officials said Monday (Sep 24).
— Channel NewsAsia

Malaysia is turning to blockchain to boost its three largest industries
Governmental agency, MIGHT, hopes that blockchain will not only help boost the country’s economy but also increase transparency and sustainability in the aforementioned sectors.
— OpenGovAsia

British Council in Malaysia announces launch of IELTS on computer
IELTS, the world’s most popular English test for higher education and migration can now be taken on a computer from 9 October 2018 onwards.
— AEC News Today/ PR Newswires (media release)

Zakir Naik’s combative style of spreading Islam not suitable for Malaysia, says Mujahid Rawa
The combative style of propagating Islam, which puts down other beliefs, as practised by Dr Zakir Naik (pic), is not suitable for Malaysia said Datuk Dr Mujahid Yusof Rawa.
— The Star Online

Big Data and AI Conference NextBigTech Asia in KL on the 2 & 3 October 2018
Leaders from Amazon and Google will be among over 30 of the biggest industry influencers to share their knowledge on the rise and impact of Artificial Intelligence (AI) and Big Data Analytics on Asian businesses at the 2nd NextBigTech Asia conference & exhibition at Connexion@Nexus, Bangsar South, Kuala Lumpur on 2 and 3 October 2018. More information can be found at www.nextbigtechasia.com.
— AEC News Today/ PR Newswires (media release)

Malaysia anti-graft agency completes Rosmah investigation, says now up to Attorney-General
The Malaysian Anti-Corruption Commission’s (MACC) has completed its investigation into Rosmah Mansor, the wife of former prime minister Najib Razak, and submitted its report to the Attorney-General for further action.
— Channel NewsAsia

Mahathir’s speech at UN to showcase new Malaysia as mature democracy
Prime Minister Tun Dr Mahathir Mohamad is scheduled to deliver Malaysia’s national statement at the 73rd Session of the United Nations General Assembly (UNGA) general debate in New York on Friday, where he will showcase the new Malaysia as a mature democracy that upholds the primacy of the rule of law.
— The Sun Daily

Samsung says latest tablets now available in Malaysia
Following a global release in August, Samsung’s Galaxy Tab S4 and Galaxy Tab A 10.5 are now available in stores here.
— The Edge Markets

Sunway and NEC explore prospect of developing smart city solutions at Sunway Iskandar
Sunway Bhd and NEC Asia Pacific Pte Ltd (NEC) are exploring a collaboration to augment safety and security for the 1,800-acre Sunway Iskandar township in Johor and to develop smart city solutions together with an Innovation Centre of Excellence (CoE).
— New Straits Times

MTD Group secures RM1.5b financing for One Crown Place project in London
MTD Group has secured RM1.5 billion financing from Australia’s largest pension fund AustralianSuper and one of the largest real estate investment managers in the world, TH Real Estate, for the development of One Crown Place in London.
— The Sun Daily

1MDB seeks to recover nearly RM1.0 billion paid in Malaysia
The 1Malaysia Development Bhd asset recovery team is looking to recover the RM974 million that Datuk Seri Najib Razak had dished out to various local individuals and groups from his main AmIslamic Bank account between 2011 and 2014.
— The Edge Markets

M’sia received ‘interesting inquiries’ in midst of US-China trade spat
The trade tension between the US and China has presented some “unique” opportunities to Malaysia with companies from both countries looking to invest here, said Finance Minister Lim Guan Eng.
— The Sun Daily

Form a group of experts to review Malaysia Airlines’ operations, MAS ex-boss
The government needs to set up a group of experts to review Malaysia Airlines Bhd’s (MAB) current operations as the RM6 billion restructuring plan is deemed a failure, ex-Chief Executive Officer/Managing Director of Malaysian Airline Systems Bhd (MAS) Tan Sri Dr Abdul Aziz Abdul Rahman said.
— The Star Online

SME Mart to assist entrepreneurs market products overseas
SME Mart, an initiative introduced by Dewan Ekonomi Usahawan Malaysia (DEUM) will serve as a platform for Small and Medium Enterprise (SME) entrepreneurs to sell their products on both the local and international market.
— The Edge Markets

What makes Malaysia’s Mahathir a great leader
Philippine President Rodrigo Duterte’s supporters like to compare him to the late Singaporean leader, Lee Kuan Yew. It’s a flattering comparison, because centuries from now, the Singaporean leader will likely be remembered as one of the titans of the millennium.
— The Nation

2 more arrested in Malaysian CEO murder probe
Two more people have been arrested in connection with the murder of Cradle Fund Sdn Bhd chief executive officer Nazrin Hassan.
— AsiaOne

Malaysia snaps three-day winning streak, Singapore gains
Malaysia shares Monday snapped a three-session winning streak, dragged down by banks as latest round of tariffs took off in the Sino-American trade war. Singapore eked out tiny gains.
— Nikkei Asian Review (paywall)

 

Feature photo Teck Wan Kho

This week’s Malaysia morning news feature photo acknowledges World Rabies Day, September 28.

 

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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