Malaysia Morning News For February 26

Penang government wants urban regeneration law
The Penang state government has called for an urban regeneration law to allow for old housing schemes to be demolished and rebuilt.
— Malay Mail

ERCL to proceed only if Malaysia can afford it
Malaysia will only proceed with the East Coast Rail Link (ECRL) project, if the nation can afford it, failing which, it would be postponed.
— New Straits Times

Malaysia committed to making vaccinations compulsory: Health minister
Malaysia’s health ministry is committed to making vaccinations compulsory despite the challenges it faces in making coverage mandatory.
— Channel NewsAsia

Will Malaysia become Southeast Asia’s clean energy leader? (commentary)
A silver lining of global warming is that it is forcing every nation to rethink its future, to open its mind to new possibilities. The latest IPCC report gives the world only 12 years to radically cut greenhouse gas emissions or condemn future generations to climate change catastrophe. There is no choice but to act.
— Mongabay

Malaysia’s labour productivity grew in Q4 2018
Malaysia’s labour productivity by hours worked in 2018 increased 3.4% while it recorded a growth of 2.2% by employment. This was revealed in the Department of Statistics Malaysia’s Labour Productivity of Fourth Quarter 2018 report on Friday (22 February).
— Human Resource Online

Dr M: ECRL’s price still not finalised yet
The East Coast Rail Link (ECRL) will continue only if the price is right, Prime Minister Tun Dr Mahathir Mohamad said today.
— Malay Mail

Sarawak assists implementation of BSH programme
The Sarawak Chief Minister’s Department has issued an instruction to 11 Residents, 29 District Officers (DOs) and seven Sub-District Offices to assist the Federal Treasury in the distribution of vouchers and RM300 cash payment for recipients of the Bantuan Sara Hidup (BSH) welfare programme.
— Daily Express

Malaysia Smelting Corp sees RM16m profit
Malaysia Smelting Corp Bhd (MSC) posted a net profit of RM15.6 million, against the previous year’s RM13.2 million net loss for its fourth quarter ended Dec 31.
— The Malaysian Reserve

Dr Mahathir warns against foreign meddling in Asean
Southeast Asian countries should guard against the involvement of big powers in the region, as such meddling may fuel conflict and lead to an arms race, according to Malaysian Prime Minister Tun Dr Mahathir Mohamad.
— The Edge Markets

Ship collision at Straits of Johor not detrimental to bilateral trade with Singapore
The collision between Malaysia’s marine surveillance vessel MV Polaris and the bulk carrier ship registered in Greece, MV Pireas, will not affect Malaysia-Singapore bilateral trade amid concerns that it may further aggravate the relation between both countries.
— The Malaysian Reserve

Govt takeover of highways on willing buyer-willing seller basis
The federal government’s plan to take over the tolled highways will be on a willing buyer-willing seller basis, according to CIMB Equities Research’s brief check with Gamuda Bhd.
— The Star Online

Malaysia returns to AIME 2019 gearing up for VM2020
To continue promoting Malaysia as the preferred business events destination internationally, Malaysia Convention & Exhibition Bureau (MyCEB), an agency under the Ministry of Tourism, Arts and Culture Malaysia (MOTAC) together with 13 industry partners ranging from hotels, state bureaus and convention centres is participating in the leading exhibition for the meetings, incentives and events industry, Asia-Pacific Incentives and Meetings Expo (AIME) from February 18 to 20, 2019 at Melbourne, Australia.
— The Borneo Post

Fast-track to a global career in accounting and finance
FOR school leavers, it can be tough not knowing which university to choose and what course to enrol in. In Malaysia alone, there are many public and private universities, with hundreds of courses available. But how sure are you the path you chose is the right one for you?
— The Star Online

Malakoff in urgent need of new source of earnings, says Kenanga
Kenanga research is positive on Malakoff Corp Bhd’s acquisition of Alam Flora as it fits into the group’s long-term aspiration of venturing into the waste-turn-energy and renewable energy sectors.
— The Star Online

Gamuda dips in early session
Shares of Gamuda Bhd dipped in early session today on news that the government has begun talks with the group to acquire four highway concessions it has a majority stake in, with the aim of abolishing toll collections at these highways.
— New Straits Times

Malaysia in need of growth story
Despite being a resilient economy, Malaysia needs to find its growth narrative if it is to continue to move forward, says a leading regional economist.
— The Star Online

Mitsubishi Malaysia launches new 3S centre in Cheras
Mitsubishi Motors Malaysia (MMM) has launched a new Mitsubishi 3S centre in Cheras, together with authorised dealer Evatrend. With this opening, MMM is now represented by 53 showrooms (47 being 3S centres) and 52 service outlets throughout Malaysia.
— Paultan.org

‘New Kuwait’ an attractive lure for Malaysian investors: Envoy
Malaysia is urged to leverage business and investment opportunities outlined within Kuwait’s 2035 Development Vision, which is currently progressing towards turning Kuwait into a trade and financial hub.
— The Sun Daily

Further recoveries ahead for AmBank
Further recoveries are expected from AMMB Holdings Bhd (AmBank) but analysts also opine that the group should not solely rely on the cost factor to sustain its earnings growth.
— The Borneo Post

Sarawak acts after frequent collapse of major roads
The Sarawak government will reexamine road infrastructure following the frequent collapse of major roads in the state, Minister of Infrastructure Development and Transportation James Masing said today.
— FMT

Mixed sentiments on AAX’s prospects
AirAsia X Bhd (AAX) garnered mixed sentiments from analysts as they expect the airline could see recovery in its core routes while others believe oil prices and subdued passenger growth could continue to weigh down its prospects.
— The Borneo Post

Netflix Buys Malaysian Election Drama Film ‘Rise’
Malaysian drama film, “Rise Ini Kalilah” has been picked up by Netflix and will go to air from Feb. 26. The film released in Malaysian theaters and in Singapore in September.
— Variety

IKEA Malaysia drums up publicity for its foray into the northern region
IKEA Malaysia’s fourth IKEA store in Batu Kawan aims to serve more than 6.6 million people in the northern region.
— Marketing Interactive

Selangor mulls expanding aerospace belt
Selangor, which is the main hub for Malaysia’s aerospace and aviation industry, is mulling expanding the state’s dedicated aerospace sites, which currently centred in Sepang, Subang and Serendah (3S), says Mentri Besar Amirudin Shari.
— The Sun Daily

Anwar and Mahathir – who will blink first?
When Datuk Seri Anwar Ibrahim arrived at Unisel to give a talk earlier this week, he was introduced as the “eighth prime minister of Malaysia.”
— AsiaOne

UEM Edgenta’s Q4 net profit drops 80pct, revenue at RM647m
UEM Edgenta Bhd’s net profit plunged 79.1 per cent to RM67.73 million in the fourth quarter (Q4) ended December 31, 2018 from RM324.81 million recorded in the same quarter last year.
— New Straits Times

Copper rod maker Metrod injects RM1.1b for plant expansion
Metrod Holdings Bhd, a leading copper rod manufacturer, injected RM1.1 billion to undertake a 6,300m plant expansion, hence emerging as the single largest copper rod plant with a capacity exceeding 300,000 tonnes in Southeast Asia.
— The Sun Daily

SunCon’s net profit at RM37m in Q4, revenue at RM626m
Sunway Construction Group Bhd’s (SunCon) net profit increased 26.6 per cent in the fourth quarter (Q4) ended December 31, 2018 to RM36.57 million from RM28.89 million recorded in the same quarter a year ago.
— New Straits Times

Malaysia respected by Arab countries for supporting Palestinian cause
Malaysia is highly respected by Arab countries including Kuwait for its strong, unwavering and long-standing support towards the Palestinian cause.
— The Sun Daily

Young dreams dashed as Malaysia prepares to send back 40,000 Chin refugees
Kim Lek walked and sometimes ran to Malaysia from her home in Chin State, Myanmar, at the age of 11.
— FMT

Malaysia’s Tan Chong Group to invest US$50 million in Danang
TCIE Vietnam Company, a member of Malaysia’s Tan Chong Motor Group, will build a new car factory in Hoa Khanh industrial zone in central Vietnam with a total investment of US$50 million.
— Channel NewsAsia

Metrod injects RM1.1b to expand copper rod manufacturing capacity
Metrod Holdings Bhd, a leading copper rod manufacturer, injected RM1.1 billion to undertake a 6,300 metres plant expansion, hence emerging as the single largest copper rod plant with a capacity exceeding 300,000 tonnes in South East Asia.
— New Straits Times

Feature photo International Rhino Foundation

This week’s Malaysia morning news feature photo acknowledges World Wildlife Day, March 3.

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.