Malaysia morning news for September 27

Malaysia morning news for September 27

Malaysia morning news“Malaysia’s Imelda” Likely To Be Charged For Money Laundering
Rosmah Mansor, wife of Malaysia’s former prime minister Najib Razak who is embroiled in the multi-billion fraud scandal surrounding state fund 1Malaysia Development Berhad (1MDB), has been called to the Malaysian Anti-Corruption Commission headquarters in Putrajaya on September 26 for a second questioning and is likely to be charged as early as this week .
— Investvine

Exclusive Excerpt From “The Sarawak Report” (The Inside Story Of The 1MDB Expose)
The authors of Billion Dollar Whale claim to be the people who “broke the story on 1MDB”. In their book they also claim, according to reports, that insiders in the 1MDB investigation approached them with documents on Najib’s bank account (having allegedly been impressed by the WSJ’s reporting).
— Sarawak Report

Malaysia mulls legalising medicinal marijuana: Report
Malaysian cabinet ministers have reportedly begun informal talks to amend the law on medicinal marijuana amida public uproar over a death sentence handed to a man last month.
— Channel NewsAsia

Malaysia: Shift from oil palm to tropical fruit industry in Sabah
Sabah, the second largest state of Malaysia, has many native fruits such as tarap, bambangan, durian dalit or red-fleshed durian and many other wild fruit species have great market potential.
— Fresh Plaza

Malaysia to Re-Introduce Sales and Services Tax from September 1
On September 1, 2018, Malaysia will re-introduce the Sales and Services Tax (SST), replacing the three-year-old Goods and Services Tax (GST).
— ASEAN Briefing

Average Malaysian’s household assets have risen
Malaysian households’ net financial assets grew 12 per cent last year, the fastest increase since 2012, according to Germany-based Allianz Group in its ninth edition of the “Global Wealth Report 2017”.
— New Straits Times

Food and tech meet in delivery services
Malaysians are said to love food and convenience. This prompted a proliferation of food delivery services in recent years, using the convenience of websites, apps and even Facebook pages to reach customers.
— The Asean Post

Malaysia’s CIMB boss becomes latest target of Mahathir shake-up
Nazir Razak, who on Monday resigned as chairman of CIMB Group Holdings, one of Malaysia’s largest banks, is the latest casualty in Prime Minister Mahathir Mohamad’s overhaul of state-controlled companies.
— Nikkei Asian Review (paywall)

Malaysia’s Axiata reviews position in M1 after Keppel, SPH express interest
Malaysia’s Axiata Group Bhd said it is reviewing its stake in M1 Ltd after Keppel Corporation Ltd and Singapore Press Holdings Ltd (SPH) expressed an interest in Singapore’s smallest mobile network provider.
— Channel NewsAsia

Message to the World Launched to Coincide with Malaysian PM’s UN General Assembly Address
A global communications campaign, titled “Malaysia: Bouncing Back even Better than Before”, was launched yesterday to help communicate to the world Malaysia’s determination to put the country back on track and move forward again after its historic General Election victory four months ago.
— AEC News Today/ PR Newswire (media release)

MAHB to ask for OA review
Malaysia Airports Holdings Bhd (MAHB) is negotiating with the government to review the current operating agreement (OA) for better terms which will allow it to recoup any capital expenditure (capex) used for the development of airports under its management.
— The Star Online

Guan Eng: More goods exempted from SST and rate cut to 5pc
Finance Minister Lim Guan Eng has today disclosed more items exempted from Sales and Services Tax (SST).
— New Straits Times

Digi is top ranked Malaysian firm in Global Diversity and Inclusion Index
Digi Telecommunications Sdn Bhd (Digi) was the only Malaysian company to make the top 50 in the Thomson Reuters Global Diversity and Inclusion (D&I) Index for 2018.
— The Borneo Post

Malaysia’s household debt moderates at 84pc in 1H
Malaysia’s household debt-to-gross domestic product continues to moderate, standing at 83.8 per cent in the first half of 2018 compared to 84.2 per cent last year.
— New Straits Times

Local banks’ excess liquidity at RM156m in 1H
The country’s financial system remains resilient, with local banks recording excess liquidity of RM156.2 billion in the first half of 2018, according to Bank Negara Malaysia.
— New Straits Times

EPF to increase private equity allocation to above 3 pct
The Employees Provident Fund (EPF) has targeted to increase its private equity (PE) allocation to above three per cent over the next 10 years from two per cent currently.
— The Borneo Post

Malaysia has a shadow Cabinet for the first time
Four Malaysian opposition parties yesterday unveiled a shadow Cabinet, the first in the country’s history, which they say will act as a check and balance on policies being pursued by the Pakatan Harapan (PH) government.
— The Straits Times

Stock of unsold homes in Malaysia grows amid housing glut
The housing glut in Malaysia is worsening as more units remain unsold, with 80 per cent of these priced above RM250,000 (S$82,300), the central bank said in a statement on Wednesday (Sept 26).
— The Straits Times

Malaysia wants to work with Bangladesh to repatriate illegal immigrants says Kula
Malaysia wants to work with Bangladesh to resolve the issue of the large number of illegal immigrants here and find ways to repatriate them to their home country, says M. Kula Segaran (pic).
— The Star Online

‘Take proactive measures to tackle trade conflicts’
Proactive measures must be enhanced to handle a possible protracted trade conflicts, as it would have “very serious” implications on open economies including Malaysia, according to former senior United Nations official and economist Professor Jomo Kwame Sundaram.
— The Sun Daily

BNM: Financial system resilient even under severe stress
Malaysia’s financial system is expected to remain resilient under severe macroeconomic and financial strains, with financial institutions maintaining capital buffers in excess of regulatory minima even under adverse scenarios, says Bank Negara Malaysia (BNM).
— The Borneo Post

Govt urged to set up maritime commission
The Malaysian National Shippers’ Council (MNSC) has urged the government to set up a Malaysian Maritime Commission (Marcom) for the maritime transport sector.
— The Sun Daily

 

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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