Malaysia Morning News For April 3

Malaysian entrepreneurs make the Forbes 30 Under 30 Asia 2019
Several Malaysian entrepreneurs are among the 300 from 23 Asia-Pacific countries listed in the Forbes 30 Under 30 Asia this year.
— The Star Online

Petronas to have Malaysia’s second floating LNG facility ready by Q1 2020
State-owned Petroliam Nasional Bhd, or Petronas, expects to have its second floating liquefied natural gas (LNG) facility in Malaysia ready by the first quarter of next year, its chief executive, Wan Zulkiflee, told the LNG2019 conference in Shanghai on Tuesday.
— Reuters

RHB launches multi currency debit card
RHB Banking Group Bhd (RHB) has launched the Multi Currency Visa debit card, which offers access to 13 foreign currencies alongside the ringgit.
— The Star Online

Malaysia manufacturing PMI deteriorates further in March
Malaysia’s manufacturing sector continued to face a challenging business environment in March, as output and new orders both fell, according to a survey.
— Nikkei Asian Review (paywall)

Housing Ministry in talks with foreign investors for RTO scheme funding
The Housing and Local Government Ministry is in talks with foreign investors to finance its Rent to Own (RTO) scheme.
— The Sun Daily

ACCCIM survey: Chinese biz community prefers GST over SST
Slightly more than half of the Chinese business community (54.6%) in a survey indicated that the Goods and Services Tax (GST) is a more preferred tax system than the Sales and Service Tax (SST), according to the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) Business and Economic Conditions Survey Report released today.
— The Sun Daily

Malaysian owned cybersecurity firm said to weigh stake sale
EC-Council, the cybersecurity certification company owned by Malaysian entrepreneur Jay Bavisi, is exploring options including a sale of significant minority stake to help boost growth, people familiar with the matter said.
— FMT

Ministry studying sites for waste to energy plant
The Housing and Local Government Ministry (KPKT) is evaluating existing sanitary landfills as suitable sites to develop waste to energy (WTE) plants.
— Malay Mail

Johor F&B sector suffers as Singapore tourists stay away
Johor’s food and beverage (F&B) industry has been affected by a decline in tourist arrivals from Singapore due to ongoing tensions between the city-state and Malaysia as well as delays at the immigration, news portal The Malaysian Insight reported on Tuesday (April 2).
— Asia One

Anwar: Malaysia must be strong to regain status of ‘Asian Tiger’
Confidence, a strong mindset and the readiness to act are the three qualities needed by Malaysians in order that the nation could regain its “Asian Tiger” status.
— New Straits Times

Malaysia’s Ex-PM Najib Razak Disputes $368 Million Tax Bill Ahead of His Corruption Trial
Former Malaysian leader Najib Razak disputed a hefty new tax bill shortly before the start of his first trial related to 1MDB corruption charges.
— Time

Malaysia hits out at US and China behaviour in trade war
Malaysia’s trade minister made a blunt appeal for the US and China to feel a greater sense of “global responsibility” and “stop thinking only of themselves” as they try to reach an agreement to end their bitter trade war.
— Finacial Times

Commentary: Plagued by defence budget curbs – the Royal Malaysian Air Force in crisis
Prime Minister Mahathir Mohamad’s comments that Malaysia has no intent of buying new fighter jets reflects a longstanding challenge of funding the country’s defence spending, says defence commentator Mike Yeo.
— Channel NewsAsia

Who is to blame for Malaysia’s jobless youths?
In 2018, Malaysia had its first change of government since independence from the British over six decades ago. Malaysians had high hopes for the newly elected government; expecting radical changes and improvements in governance.
— The Asean Post

IBM appoints new MD for Malaysia
IBM has appointed Catherine Lian (pic) as the new managing director of IBM Malaysia, effective yesterday.
— The Star Online

Hong Leong Bank named Best SME Bank in Malaysia
Hong Leong Bank Bhd (HLB) has been adjudged the Best SME Bank in Malaysia for 2019 by The Asian Banker at the International Excellence in Retail Financial Services Convention held in Dubai recently.
— The Borneo Post

Massive wrong-way waterspout makes landfall in Malaysia, damaging 50 buildings
Eyewitness video captured a massive waterspout whirling ashore Monday afternoon on Penang Island, Malaysia. Channel News Asia reported 50 buildings were severely damaged as the destructive funnel made landfall.
— The Washington Post

Race, religion and rhetoric ramp up in ‘New Malaysia’
After recouping the Semenyih state legislative assembly seat, it comes as little surprise that the United Malays National Organisation (UMNO) and the Pan-Malaysian Islamic Party (PAS) are finally formalising their cooperation.
— Khmer Times

Thales keen on bidding rail signaling for KL-SG HSR
Thales Group, a global defense, security, transportation and aerospace company, will bid for rail signaling contract for the Kuala Lumpur-Singapore High Speed Rail (KLSG HSR) project once both the Malaysian and Singaporean governments give the project the green light.
— New Straits Times

Dr M: Malaysia can learn from China who overtook us
Malaysians can emulate the industriousness of China’s citizens who helped make their country technologically advanced in just a few short decades, Prime Minister Tun Dr Mahathir Mohamad said last night.
— Malay Mail

Cathay ‘faces reality’ with budget airline buy, say analysts
Cathay Pacific’s purchase of rival HK Express was an inevitable plunge into the no-frills market as the premier marque belatedly faces the reality that it can no longer ignore the budget sector, analysts say.
— New Straits Times

Govt to initiate anti-dumping investigation into CRC imports
The government will initiate an anti-dumping investigation into imports of iron or non-alloy steel cold rolled coils (CRC) of more than 1,300 cm width after looking at the prima facie evidence of dumping, injury and causal link.
— The Borneo Post

Airbnb to invest US$100-200 million in India’s OYO
Home-renting company Airbnb will invest between US$100 and US$200 million in SoftBank Group-backed Indian hotel start-up OYO, a source with direct knowledge of the matter told Reuters, as it dives deeper into the hotel-booking business.
— New Straits Times

SunCon ventures into Myanmar by inking MoU with local conglomerate
Sunway Construction Group Bhd (SunCon)’s indirect unit Sunway Builders (Myanmar) Co Ltd (SBM) is entering into a Memorandum of Understanding (MoU) with local firm Capital Construction Limited (CCL) to develop major infrastructure and construction projects in Myanmar, signalling the leading Malaysian construction player’s foray into the Southeast Asian country.
— The Edge Markets

Malaysia’s Sunway Construction Group enters Myanmar
Malaysia’s Sunway Construction Group Bhd has ventured into Myanmar, partnering with Capital Construction Ltd to develop major infrastructure and construction projects there, the News Straits Times has reported.
— Mizzima

Heitech Padu’s VR tech generating interest
HEITECH Padu Bhd (HPB) has received a positive number of inquiries for its Simulated Interactive Maintenance Aids (Sima), a virtual reality (VR) training system, from both local defence agencies and an automotive company.
— New Straits Times

RM1bil land sale by Sime Darby
Sime Darby Plantation Bhd (SDP) is looking to dispose of over 4,300 acres of freehold estate land in Peninsular Malaysia that is estimated to bring in proceeds of more than RM1bil if it is able to get the price it seeks.
— The Star Online

DHL Express expands Kota Kinabalu facilities
DHL Express, the world’s leading international express service provider, has invested over 100,000 euros (about RM458,730) to upgrade its gateway facility in Kota Kinabalu as part of its efforts to better support businesses in Sabah.
— The Borneo Post

Cosplayers who were arrested in Malaysia have been released
All participants of the Cosplay Festival 4, a two-day event at Sunway Putra Hotel in Kuala Lumpur, have been released after being detained for seven days and have left Malaysia.
— Asia One

Sabah Steps Up To Lead Restoration Of Malaysia’s World Class Forests, As Theresa Woos The West
The approach was low key over the weekend: there was a planting of trees ceremony on Saturday, followed by presentations and today a joint announcement today by primary industries minister Theresa Kok and Sabah chief minister Shafee Apdal of a first stage reforestation initiative in Lahad Datu.
— Sarawak Report

Malaysia’s TheLorry nets $5.9m to ‘improve perceptions’ about truck driving
On-demand logistics startup TheLorry has raised US$5.85 million in series B funding.
— Tech in Asia

Astro Malaysia sees profits fall 35%
Astro Malaysia suffered higher financing and currency exchange charges which impacted Q4 net profits (for the 3 months to January 31st) which fell 34.87 per cent, when compared to the same period a year earlier. The pay-TV broadcaster also said it expects 2020 to be a challenging year.
— Advanced-television

Leiking to lead trade, investment mission to the US
International Trade and Industry Minister, Datuk Darell Leiking will lead a trade and investment mission to Washington DC, New York, Seattle, San Jose and San Francisco in the United States, beginning from today until April 6, 2019.
— The Borneo Post

Feature photo NASOM

This week’s Malaysia morning news feature photo acknowledges World Autism Awareness Day, April 2.

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.