Malaysia Morning News For January 10

Malaysia water tariffs expected to go up: Minister
Malaysia may raise water tariff rates in stages this year, in line with the government’s efforts to restructure the water supply services industry.
— Channel NewsAsia

Malaysia’s economy to grow 4.7pc to RM1.48 trillion in 2019
The World Bank forecasted Malaysia’s RM1.41 trillion economy to grow at 4.7 per cent this year and to slow down to 4.6 per cent for next year.
— New Straits Times

Five things to watch out for in 2019 on Malaysia’s political front
2018 was a year of dramatic change for Malaysia. At the General Elections in May 2018 (GE14), Barisan Nasional (BN) was defeated by Pakatan Harapan (PH) after 61 years in power. Malaysia saw the return of Mahathir Mohamad as Prime Minister.
— Today Online

Workers face action for insulting Malaysia royalty
Malaysian consultancy firm Pemandu Associates has suspended an employee who allegedly posted remarks laced with profanity against the monarchy on social media.
— The Straits Times

No banking mergers this year: Research firms
Banking analysts do not see any potential mergers and acquisitions (M&A) within the banking sector this year due to both valuations and political reasons.
— New Straits Times

MMHB up 7.87% after securing Petronas offshore job
Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHB) share price rose 7.87% this morning after its wholly owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) was awarded an engineering, procurement and construction of fixed offshore structure job by Petroliam Nasional Bhd (Petronas).
— The Sun Daily

EU should reconsider palm oil-based biofuel ban
The European Union (EU), which is proposing a ban on the use of Malaysian palm oil-based biofuel within the union, should reconsider the proposal so as not to affect the livelihood of small farmers, says an advocate for Planters United, a non-governmental organisation made up of a group of smallholder planters.
— New Straits Times

Top travel experiences you need to try in Malaysia in 2019
Although mainstream tourist attractions are still important to our country’s tourism industry, experiential travel is becoming more popular.
— Star2

Woman in Malaysia comes under fire for hugging crocodile
A woman in Kota Baru, who captured a crocodile behind her house, was heavily criticised when a photograph emerged on social media showing her hugging the reptile.
— AsiaOne

IRB aims to collect RM10b via tax amnesty programme
The Inland Revenue Board of Malaysia (IRB) aims to attract at least one million taxpayers with an estimated RM10 billion in tax collection via the Special Voluntary Disclosure Programme (SVDP).
— The Sun Daily

Guan Eng seeks to clear air over Sarawak’s debt to Putrajaya
Finance Minister Lim Guan Eng today sought to provide clarity over the amount of money owed to the federal government by Sarawak after a prolonged public spat with the state government.
— Malay Mail

‘Speedy Gonzales’ deal: CEO, ex-Tourism M’sia official in court as MACC seeks remand
PUTRAJAYA: A former top official of Tourism Malaysia has been arrested by the Malaysian Anti-Corruption Commission (MACC) over funds from the agency involving millions of ringgit.
— The Nation (very annoying popups)

WSJ report on 1MDB bailout won’t affect Malaysia-China ties, says analyst
The Wall Street Journal’s (WSJ) recent report on the alleged 1MDB bailout won’t affect bilateral relations between Malaysia and China or exacerbate the strain on the economic front that followed the cancellation of China-backed projects, an analyst says.
— FMT

Expert urges SMEs to leverage ASSIST mechanism to flag unfair measures
European Union (EU) trade expert calls for private sector to fully utilise the Asean Solutions for Investments, Services and Trade (ASSIST) as the best platform to address intra-Asean trade problems that limit small and medium enterprises’ (SMEs) ability to take advantage of the Asean Economic Community (AEC) — the regional integration agenda that has an end goal to facilitate the free movement of goods, services, investment and freer flow of capital across Asean.
— The Borneo Post

Winner’s curse: Malaysia glove markers start 2019 with a plunge
A group of Malaysian stocks that were unscathed during the global equity sell-off over the past few months is feeling some agony now.
— The Edge Markets

Gagasan Nadi bullish on affordable housing sector
Gagasan Nadi Cergas Bhd (Gagasan Nadi) remains bullish over Malaysia’s affordable housing sector as there is still a shortage in the segment.
— The Borneo Post

Malaysia shows interest in India’s Tejas fighter jets, may buy 30 of them
Many experts consider the Tejas Light Combat Aircraft (LCA), though not yet fully developed, already far deadlier than its opposite number — the JF-17 Thunder fighter, developed by China and built in Pakistan. Now Malaysia too is endorsing the Tejas’ quality by shifting interest from the Sino-Pakistani to the Indian fighter.
— Business Standard

Human rights group slams govt following arrests under Sedition Act
A human rights group chided the government for still using the Sedition Act following the arrest of two men and one woman for posting comments on social media deemed insulting to Sultan Muhammad V.
— Malay Mail

Knight frank sees improved property market sentiment
Sentiment in Malaysia’s property market is expected to improve in 2019, especially the residential property market, as policies announced under Budget 2019 are expected to strengthen demand, particularly among first-time homebuyers, said property advisor Knight Frank Malaysia.
— The Borneo Post

Grab cries foul after drivers fined at airports
E-hailing giant Grab today questioned the move to stop its drivers from picking up passengers at airports, accusing the authorities of “deliberately” misinterpreting laws.
— FMT

Be innovative, health minister tells businesses hurt by smoking ban
Restaurants should come up with creative ideas to stem declining business caused by the government’s smoking ban, Health Minister Datuk Seri Dzulkefly Ahmad said today.
— Malay Mail

AmBank offers DuitNow service for seamless transactions
AmBank customers can now transfer money instantly and securely just by entering the recipient’s mobile phone number with the DuitNow service by Payments Network Malaysia Sdn Bhd.
— New Straits Times

Taxman expects RM10b in collection under amnesty period
The Inland Revenue Board (IRB) expects the special Voluntary disclosure programme (SVDP) – which has less than six months left before it ends on June 30 – to attract at least one million taxpayers.
— The Star Online

Nomura downgrades Malaysian shares, warns of possible slip in sovereign ratings
Japanese bank Nomura has downgraded Malaysian shares, saying the new government’s lack of “significant reform push” could lead to a worsening fiscal position and a possible slip in credit ratings.
— CNBC

Malaysian buoy-laying vessel Polaris leaves Singapore waters
The Malaysian vessel that had been anchored in Singapore territorial waters off Tuas since Dec 3 last year has returned to the Malaysian port of Tanjung Pelepas.
— Channel NewsAsia

Ex-chairman remanded 4 days over Tourism Malaysia issue
The Magistrate’s Court has issued a four-day remand order for the former chairman of a government agency, to facilitate investigations into an issue relating to Tourism Malaysia.
— FMT

A tour of Malaysia’s multifaceted mosques
I am almost 1,000 metres above the Earth, looking down at what appears to be a giant depiction of a blazing sun. But, unlike the one beating upon my head, this sun is not a fiery orange colour. Instead, it is constructed entirely from stainless steel. It glints in the daylight, making it hard to look at it for long, much like the flaming orb it represents.
— The National

Feature photo mentatdgt

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.