Malaysia Morning News For January 11

Bank employees to enjoy 0% housing loan for first RM100k
Bank employees will soon enjoy 0% interest in their housing loans for the first RM100,000.
— The Star Online

Salaries projected to increase by 5.2% in Malaysia in 2019
Good news for staff in Malaysia! Salaries are projected to increase by 5.2% in 2019, according to the Malaysia 2018 Salary Increase & Total Compensation Measurement™ Survey by Aon. This marks a slight increase from 2018 where salaries were found to increase by 5.0%.
— Human Resource Online

Malaysia economic reform: bold decisions needed if expectations are to be met
The widely unanticipated ousting of Malaysia’s government last May not only left political analysts scrambling for explanations, it also had economists wondering what was in store for the economy.
— AEC News Today

Govt collected RM5.4b in SST, exceeds forecast of RM4b
The government collected RM5.4bil from the Sales and Services Tax in the past two months, exceeding its estimate of RM4bil, Bloomberg reported.
— The Star Online

MITI’s strategies attract RM1.9 trillion investments
Strategies undertaken by the Ministry of International Trade and Industry (MITI) over the past 10 years have managed to attract RM1.9 trillion in private investments in all economic sectors.
— The Borneo Post

Malaysia’s laws must spell out what is considered insulting to monarchy: PM Mahathir
Malaysia’s laws must properly define what is considered insulting to the monarchy, said Prime Minister Mahathir Mohamad on Thursday (Jan 10).
— Channel NewsAsia

Moody’s sees increased fiscal challenges in Malaysia
Moody’s Investors Service sees increased fiscal challenges in Malaysia with the abolishment of the goods and services tax (GST) and introduction of the sales and services tax (SST).
— The Star Online

Top 4 states and districts to visit in Malaysia in 2019
Every year, some states and destinations in Malaysia will hold year-long travel campaigns to entice travellers from near and far. The spotlight this year goes to Sarawak, Melaka, Rompin in Pahang and Tenom in Sabah.
— Star2

MALAYSIA’S TOUGH NEW RESTRICTIONS ON PUBLIC SMOKING PROVOKE FIERCE BACKLASH
A government-imposed smoking ban at eateries and restaurants in Malaysia has prompted a nationwide backlash, with reports of violence and threats of lawsuits coming from smokers, who make up nearly a quarter of the population.
— South China Morning Post

MIDF says Bank Negara gives nod for merger talks with Saudi’s Al Rajhi
Bank Negara Malaysia has given its approval for the talks to merge Malaysian Industrial Development Finance Bhd (MIDF) with Al Rajhi Banking & Investment Corporation (Malaysia) Bhd.
— The Star Online

TNB secures RM144m financing for its second largest solar project
Tenaga Nasional Berhad (TNB) has secured RM144 million financing for its second Large Scale Solar (LSS) project in Malaysia in Bukit Selambau, Kuala Muda, Kedah.
— New Straits Times

MPOC lambasts WHO over negative remarks on palm oil lobbying
The Malaysian Palm Oil Council (MPOC) has lambasted the World Health Organisation (WHO) over its claim that the palm oil industry is deploying tactics similar to those of the alcohol and tobacco industries to influence research into the health effects of its products.
— The Star Online

Celcom Axiata to invest RM100m for IoT in next 5 years
Celcom Axiata Bhd will invest RM100 million in the next five years for the development of its Internet of Things (IoT) Centre of Excellence and IoT related infrastructure in Malaysia.
— The Sun Daily

Businessman close to Najib remanded in RM99m Tourism Malaysia deal
Malaysia’s anti-corruption agency, MACC, has obtained a four-day remand order against the former Tourism Malaysia chairman Siew Ka Wei and the chief of a private firm, Elizabeth Ken Tze Ying over a tourism contract worth RM99 million awarded just in the run-up to the 14th general election.
— The Independent

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

Guan Eng: Malaysia politically stable, will have orderly power transfer
Malaysia is stable politically and the transfer of leadership in the government will be just as orderly, Finance Minister Lim Guan Eng emphasised today after a market research report yesterday that suggested otherwise.
— Malay Mail

Long-term digitalisation programmes needed for SMEs
More industry players need to step forward with long-term programmes to help small and medium enterprises (SMEs) become digitalised and not merely computerised.
— New Straits Times

KESM says business volume drop won’t prolong
Semiconductor tester and burn-in service provider KESM Industries Bhd, which saw a 10%-15% decline in chip testing volume in the last six months due to the trade war, said the situation is temporary and not expected to prolong.
— The Sun Daily

TH completes transfer of underperforming equities to SPV
Lembaga Tabung Haji (TH) has completed the transfer of all underperforming equities, as at Dec 30, 2018, to special-purpose vehicle (SPV), Urusharta Jamaah Sdn Bhd, says group managing director and chief executive officer Datuk Seri Zukri Samat.
— New Straits Times

Eversendai bags RM406m new contracts
Eversendai Corp Bhd ushered in 2019 with RM406 million worth of new contracts through its group companies in Singapore, India and Qatar.
— The Sun Daily

Malaysia’s Rare Earth Debate
Malaysia may forgo an opportunity to enter the lucrative market in favor of environmental protection.
— The Diplomat

Malaysia meets 25% broadband price reduction target — Gobind
Malaysia has succeeded to meet its target of cutting broadband prices by 25% last year, says Communications and Multimedia Minister Gobind Singh Deo.
— The Edge Markets

Malaysian electronics firms face hit from China
Malaysia’s electronics sector is bracing for a lesson in over-reliance on a key trading partner as slowing growth and the lingering threat of a trade war put a drag on all-important shipments to China.
— Financial Times

Maybank bags ‘The Banker’s Bank’ award
Malayan Banking Bhd (Maybank) clinched The Banker’s Bank of the Year 2018 in Malaysia award with its fresh thinking on how to provide the best service quality to previously underserved consumers.
— The Sun Daily

LG partners with Microsoft to accelerate automotive revolution
LG Electronics (LG) and Microsoft entered into a memorandum of understanding to enhance and further grow LG’s autonomous vehicle and infotainment system business.
— The Borneo Post

Eversendai secures new jobs worth RM406 million to usher in 2019
Eversendai Corp Bhd has secured new contracts worth RM406 million through its group companies in Singapore, India and Qatar.
— New Straits Times

Re-educate the entire country, not just the students
I refer to the news item, “In Terengganu, Dr M emphasises importance of English”. A few weeks earlier, he also said Malaysia must “de-emphasise” religion in national schools.
— FMT

Singapore, Malaysia Strike Deal over Airspace Spat
The Singapore and Malaysia governments have agreed to take reciprocal actions to ease the airspace dispute around Singapore Seletar Airport and the neighboring Pasir Gudang in Johore, Malaysia.
— AIN Online

Malaysia maintains stance on Israeli Paralympic athletes ban
Malaysia has reiterated that it will not permit Israeli athletes hoping to compete in the 2019 World Para Swimming Championships in Kuching, Borneo, to enter the country. The event runs from July 29 to Aug. 4, and is one of the qualifying events for the 2020 Paralympics in Tokyo.
— Arab News

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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.