Malaysia morning news for September 7

Malaysia morning news for September 7

Malaysia morning newsMalaysia Raises Minimum Wage To 1,050 Ringgit Per Month
The Malaysian government will raise and standardise the minimum wage for the private sector across the country as of January 1, 2019, fulfilling one of its central election pledges ahead of the anniversary of the country’s formation on September 16.
— Investvine

Malaysia sees significant exports growth to China
An interesting trend arose in Malaysia’s trade figures for July 2018 when Malaysia’s exports to China jumped by 37.5 per cent year on year (y-o-y) to RM12.9 billion – the highest growth since June 2017.
— The Borneo Post

Minister calls for more affordable homes close to public transportation
Properties around public transport networks such as Mass Rapid Transit (MRT) should be sold at affordable prices as it can help young people reduce transportation costs.
— New Straits Times

Malaysia Airlines offers Matta fair discounts
Malaysia Airlines Bhd is offering discounts of up to 30% for international and domestic travel in conjunction with the MATTA Fair, to be held on Sept 7-9 at the Putra World Trade Centre (PWTC).
— The Star Online

Malaysia corporate earnings to lag initial growth view
Malaysia’s benchmark corporate earnings growth is expected to slow sharply this year, analysts said, after April-June performance lagged street forecasts in a slowing economy where sentiment remains weak tracking policy uncertainty.
— Nikkei Asian Review (paywall)

Malaysia-based Fave raises US$20m to expand online business
Fast-growing online retailer Fave has raised US$20 million (RM82.93 million) to expand its business empire even further.
— Malay Mail

New wage hike puts more pressure on East Malaysian firms
The new minimum wage price hike may dampen the economic growth in labour dependent industries such as plantation, construction and manufacturing, all while putting Sabah and Sarawak in a less competitive position compared to Peninsular Malaysia.
— The Borneo Post

Malaysia mulls ban on smoking at open-air restaurants from December
Smokers in Malaysia may be banned from lighting up at open-air restaurants from December, as part of the Health Ministry’s move to increase the number of no-smoking zones in the country.
— Channel NewsAsia

HSR postponement: win for Malaysia, but loss for Singapore
While Azmin Ali, the economic affairs minister from Malaysia may have characterized the postponement of the planned High Spped Rail (HSR) between Kuala Lumpur and Singapore as a “win-win,” it cannot be denied that Singapore has already sustained some short-term losses because of the delay in the project.
— The Independent

Former Malaysian finance minister says Jho Low attempted to contact him
Former Malaysian finance minister Daim Zainuddin said on Thursday (Sep 6) that fugitive financier Low Taek Jho, or Jho Low, had attempted to contact him several times for “help in resolving issues” relating to the 1Malaysia Development Berhad (1MDB) scandal.
— Channel NewsAsia

Hong Kong companies keen to invest in Malaysia
Hong Kong companies are keen to collaborate with Malaysian firms in developing infrastructure and real estate projects in the country, even though several mega projects are being revalued and postponed by the government.
— New Straits Times

Public caning of women highlights homophobia in Malaysia
Marginalized groups in Malaysia have sought better treatment under the new government.
— Deutsche Welle

Public Bank to fully redeem RM1b subordinated notes early
Public Bank Bhd announced that it will fully redeem its RM1 billion subordinated notes due Sept 25, 2023 on Sept 25 this year.
— The Sun Daily

SRC probe: Key witness returns to Malaysia after MACC persuasion — report
The Malaysian prosecution’s key witness in the RM42 million SRC International Sdn Bhd case against former prime minister Datuk Seri Najib Tun Razak was brought back to the country last week, after three months on the run in Thailand, the Sun reported today.
— The Edge Markets

Risks to Malaysia’s fiscal performance have risen — S&P
S&P Global Ratings sees higher risks to the Malaysian government’s fiscal performance. But, on the other hand, the government’s austerity measures could hurt long-term economic growth.
— The Edge Markets

Malaysia expects more education tie-ups with Qatar
More Memorandums of Understanding (MoUs) on education are expected to be inked between Qatar and Malaysia in the coming days, according to the Southeast Asian nation’s ambassador Ahmed Fadil bin Shamsuddin.
— Gulf Times

Alam Maritim inks bilateral agreements with financiers
Alam Maritim Resources Bhd has entered into supplemental agreements (bilateral agreements) with its financiers to restructure existing debts in accordance to a proposed restructuring scheme.
— New Straits Times

Malaysia, Uzbekistan set for good bilateral cooperation
With both Malaysia and Uzbekistan’s new political eras in full gear, their existing bilateral relations can be further elevated with expansion in economy, trade and investment, fuelled by the presence of Petroliam Nasional Berhad (Petronas) in the oil and gas (O&G) sectors.
— The Borneo Post

Priceworth International’s net profit more than doubled in FY2018
Priceworth International Bhd’s net profit for financial year ended June 30, 2018, rose 196 per cent to RM13.84 million from RM4.70 million a year ago.
— New Straits Times

Indian Railways to introduce Singapore, Malaysia tour packages
It is time to rejoice for travellers as the Indian Railway Catering and Tourism Corporation Limited (IRCTC) has decided to introduce international tour packages for Singapore and Malaysia.
— Times of India

Digitas expands into Malaysia, Randolph Tan appointed to push growth
Digitas has expanded into Malaysia with Randolph Tan (pictured) taking on the role of Publicis One growth officer – Digitas. Digitas was acquired by Publicis Groupe for approximately US$1.3 billion in 2006.
— Marketing Interactive

Statement by the Spokesperson on the public caning of two women in Malaysia
Two women were caned on 3 September in the Sharia High Court in the State of Terengganu, for allegedly attempting to have same-sex relations. This constitutes a breach of their human rights and a form of torture.
— AEC News Today/ PR Newswire (media release)

HKTDC “Building for the Future” Runs in Malaysia
Rapid economic growth in Association of Southeast Asian Nations (ASEAN) countries drives infrastructure development and urban planning, bringing enormous opportunities to related professional services – including construction, urban planning, engineering and city management.
— AsiaOne

DPM Teo Chee Hean in Sarawak as part of Malaysia visit
Singapore’s Deputy Prime Minister Teo Chee Hean was in Kuching, Sarawak, yesterday as part of his ongoing working visit to Malaysia.
— The Strait Times

 

Feature photo Jason Thien

 

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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