Malaysia Morning News For June 12

Approved investments rise to RM53.9b in Q1, up 3.1% year on year
Malaysia registered a total of RM53.9 billion approved investments in the manufacturing, services and primary sectors for the first quarter of 2019 (Q1 2019), 3.1% higher than the RM52.3 billion recorded in the same period last year.
— The Sun Daily

Malaysia set to lead circular economy in Southeast Asia
Malaysia aims to lead the development of a circular economy in Southeast Asia, Malaysia’s Minister of Energy, Technology, Science, Climate Change and Environment Yeo Bee Yin said on Tuesday.
— Xinhua

Dr M on leaked homosexual video of minister: Show me the sex clips
Malaysian Prime Minister Tun Dr Mahathir Mohamad asked reporters to show him a video reportedly showing a Malaysian federal minister having homosexual intercourse.
— The Independent

Guan Eng accuses paper of ‘sowing confusion’ in industry with Penang airports report
Finance Minister Lim Guan Eng has harshly criticised local English daily The Star today, accusing the newspaper of having “sowed confusion” with its report that two rival bids are ongoing for new international airports.
— Malay Mail

Manufacturing sales up 6.8% in April 2019
Malaysia’s manufacturing sales grew 6.8% in April 2019 to register at RM69.9 billion compared with RM65.5 billion a year ago.According to the Department of Statistics, the sales value fell 3.4% (RM2.4 billion) on a month-on-month basis but grew 6.5% on seasonally adjusted.
— The Sun Daily

PSC on major public appointments still can’t function legally – PM
The Parliamentary Select Committee (PSC) on major public appointments cannot function legally yet as some provisions in the Federal Constitution need to be changed, said Prime Minister Tun Dr Mahathir Mohamad.
— The Borneo Post

Malaysia’s household leverage to continue to moderate, Fitch says
Fitch Ratings expects Malaysia’s household leverage to continue to moderate, which should support the banking system’s asset quality.
— The Star Online

PM: Putrajaya must do more for ease of business in Malaysia
Prime Minister Tun Dr Mahathir Mohamad admitted today that doing business in the country remains tough and said his government must work harder to reduce administrative barriers.
— Malay Mail

Malaysia’s IPI up 4% in April 2019
Malaysia’s Industrial Production Index (IPI) grew 4% in April 2019, marginally lower than the 4.1% growth recorded a year ago.”The growth in April 2019 was driven by the increase in all indices: electricity (5.8%), manufacturing (4.3%) and mining (2.3%),” said Chief.
— The Sun Daily

SRC financial resources: RM4b from KWAP, launching grant RM20m from govt
Tan Sri Ismee Ismail, the former board member of SRC International Sdn Bhd, today said SRC resources came from the Retirement Fund Incorporated (KWAP) and a launching grant from the government.Ismee, 54, said the company received a RM4 billion loan from KWAP and a grant of RM20.
— The Sun Daily

Dr M: Govt studying ways to cut red tape to boost business-friendly environment
The government is looking into ways to reduce the regulatory cost and number of processes to conduct business in the country, says Tun Dr Mahathir Mohamad.
— The Star Online

Bursa Malaysia launches “Bursa Anywhere” mobile app, aims for 30% retail participation
Bursa Malaysia aims for increased participation from retail investors in the local stock market with the launch of its “Bursa Anywhere” mobile app today. Its CEO Datuk Muhamad Umar Swift shared that Bursa’s long-term goal is for retail investors to make up 30% of its.
— The Sun Daily

HSBC Malaysia launches ESG Islamic structured product
HSBC in Malaysia launched its first environmental, social and governance (ESG) Islamic structured product in the country.
— The Star Online

MMC-Garuda: MRT SSP line project traffic management update
There will be a continuation of full bound closure along Jalan Kuala Selangor (Kepong-bound) at Kilometere 48 for a stretch of 100 metres from June 12 until August 11 to facilitate works related to the Mass Rail Transit.
— Malay Mail

Ikhmas Jaya accepts RM405m LRT3 sub-contract
Ikhmas Jaya Group Bhd’s unit has accepted a RM405mil contract for works pertaining to the construction of Light Rail Transit Line 3 from Bandar Utama to Johan Setia, from Pembinaan Jaya Zira Sdn Bhd.
— The Star Online

Dropee partners Grab financial for SME business financing product
The partnership will provide access to financing to Dropee merchants and retailers Dropee, a Malaysian B2B eCommerce marketplace that digitises supply chain to better connect businesses, announced a partnership with Grab Financial in launching SME Business Financing.
— e27

Dr M: Until constitutional change empowers PSC, the PM appoints
Until the Parliamentary Select Committee (PSC) is legally functioning, government appointments will ultimately be decided by the Prime Minister, says Tun Dr Mahathir Mohamad.
— The Star Online

Myanmar man caught with live bullets at Malaysia-Thai border
A Myanmar man was caught with 13 live bullets at a rubber plantation near the Malaysia-Thai border at Bukit Kayu Hitam, Malaysian border police said on Tuesday (Jun 11).
— Channel NewsAsia

As subsidies weigh, EAC eyes ways to boost rice farmers’ efficiency
Poverty among the country’s 200,000 paddy farmers was a priority in the Economic Action Council’s third-ever meeting here today, with the government pledging to find ways to raise their standard of living.
— Malay Mail

Parliamentary committee: We monitor but can’t interfere with govt appointments
The Select Committee on Major Public Appointments is adamant on meeting with Tun Dr Mahathir Mohamad despite the PM saying the decision behind Latheefa Koya’s appointment as the new Malaysian Anti-Corruption Commission (MACC) chief was final.
— The Star Online

April industrial output exceeds forecast
Malaysia’s industrial product index (IPI) in April 2019 expanded at a faster pace of 4% from a year ago, exceeding the Bloomberg forecast of a 2.5% growth, according to the Statistics Department.
— The Star Online

Lawas oil-gas complex gets RM20.8 bln investment from China
Two companies from China, Beijing BECA Sci-Tech Co Ltd and Sinopec Engineering Incorporation will invest $5 billion (RM20.8 billion) on a proposed integrated oil and gas complex in Lawas.
— New Sarawak Tribune

New mentality towards corporate investing methods
There’s a new school of thought in corporate investing, encouraging large established companies to create startups themselves so as to disrupt their own segments.
— The Borneo Post

Adventoro aims to be the go-to platform for adventure-based activities in Southeast Asia
In 2016, Ken Lau, former Head (Partnership & Offline Marketing) at Zalora Malaysia, started Adventoro as a part-time project to help friends and family book their weekend trip.
— e27

Malaysian CEOs optimistic over company growth
Chief executive officers (CEOs) in Malaysia are maintaining a positive outlook with eight out of ten reporting confidence in the growth prospects for their company and the industry they operate in.
— The Borneo Post

Expert suggests periodic sampling of orang asli water source
A water quality expert suggests that periodic sampling of the river water used by orang asli be conducted by the Department of Environment (DOE), particularly in light of two reported deaths from the Batek tribe due to pneumonia. Water Quality and Modelling specialist Dr Zaki.
— The Sun Daily

Malaysia’s PolicyStreet gets central bank approval for financial advisory
PolicyStreet is joining the list of only 32 other Approved Financial Advisors in Malaysia Malaysian insurtech startup PolicyStreet today announced that it has secured an approval from the country’s central bank Bank Negara Malaysia (BNM) to conduct general and Islamic financial advisory (FA).
— e27

MSC maintains tin shipments on schedule
Malaysia Smelting Corporation Bhd has maintained that its delivery of tin shipments to its customers are on schedule as it refuted a wire report about delays.
— The Star Online

Be alert, 93% of poisoning cases occur at home
Ninety-three percent of poisoning cases between 2006 and 2015, occurred at home, with half of the cases involving children.This is what National Poison Centre statistics have found, said the centre’s pharmacist (drug and poison information unit) Asdariah Misnan.Sixty-six percent of.
— The Sun Daily

Abu Sayyaf still poses a threat – IGP
The threat of Abu Sayyaf group believed to be based in Jolo, Sulu, on islands in eastern Sabah is still high despite the establishment of Eastern Sabah Security Command (ESSCom), said Inspector-General of Police, Datuk Seri Abdul Hamid Bador.
— The Borneo Post

KLCI pares losses moving into midday
The FBM KLCI pared losses as it entered midday as better-than-expected industrial output in April helped to mitigate profit-taking activities.
— The Star Online

PAS Youth chief suggests Pakatan headed for trouble as Dr M goes own way
The Pakatan Harapan government is headed towards inevitable difficulty, PAS Youth chief Muhammad Khalil Abdul Hadi asserted, citing public disagreements within the pact. He was commenting on Prime Minister Tun Dr Mahathir.
— Malay Mail

Chairman: Parliamentary committee on key posts can’t decide appointments
The parliamentary select committee on major public appointments has no authority to tell the government which candidates it should select or introduce laws to make this possible, Selayang MP Wlliam Leong clarified today.
— Malay Mail

IGP: Abu Sayyaf still poses a threat, Esscom to be restructured
The threat of Abu Sayyaf group believed to be based in Jolo, Sulu, on islands in eastern Sabah is still high despite the establishment of Eastern Sabah Security Command (Esscom), says Datuk Seri Abdul Hamid Bador.
— The Star Online

IGP: Abu Sayyaf a daily threat to Sabah, ESSCom to be restructured
The threat of the Abu Sayyaf group believed to be based in Jolo, Sulu, on islands in eastern Sabah is still high despite the establishment of Eastern Sabah Security Command (ESSCom), said Inspector-General of.
— Malay Mail

Police statistics: 93pc of poisoning cases occur at home; half involve children
Ninety three per cent of poisoning cases between 2006 and 2015, occurred at home, with half of the cases involving children.
— Malay Mail

Cancer society appeals for financial support
The National Cancer Society of Malaysia Sarawak Branch has appealed to generous donors and well-wishers to financially support its palliative home care service for the needy.
— New Sarawak Tribune

Mestron’s IPO oversubscribed by 17.53 times
Mestron Holdings Bhd’s initial public offering (IPO) for the public portion has been oversubscribed by 17.53 times. The steel pole maker is set to be listed on the ACE Market of Bursa Malaysia on June 18.
— The Sun Daily

XOX to raise up to RM66.28m to fund expansion plans
XOX Bhd is looking to raise up to RM66.28 million from a proposed renounceable rights issue of irredeemable convertible preference shares (ICPS) with free detachable warrants (Warrants B).In a filing with Bursa Malaysia, the company said it plans to undertake a rights issue of up to.
— The Sun Daily

Pneumococcal and flu shots vital protection against pneumonia: Expert
Pneumococcal and influenza vaccines play vital roles in the protection against pneumonia, a respiratory expert here said today.Universiti Teknologi Mara (UiTM) Private Specialist Centre Respiratory Medicine specialist, Dr Ahmad Izuanuddin Ismail, said children, especially babies aged.
— The Sun Daily

Anwar: Accept Dr M’s decision, give Latheefa space to do MACC job
Datuk Seri Anwar Ibrahim has thrown support behind Tun Dr Mahathir Mohamad’s decision to appoint lawyer Latheefa Koya to head the Malaysian Anti-Corruption Commissioner (MACC), despite backlash from some PKR leaders.
— Malay Mail

Needs of lower ranked policemen to be given priority: IGP
The lower ranked police personnel’s salaries, logistics and requirements will be given priority in efforts to enhance the integrity of the police force, says Inspector-General of Police Datuk Seri Abdul Hamid Bador.
— The Sun Daily

Kelantan govt denies pneumonia in Kg Kuala Koh linked to mining activities
The Kelantan government today denied claims that the spread of pneumonia among the Batek tribe of the orang asli community in Kampung Kuala Koh, Gua Musang, was due to mining activities.Kelantan Deputy Mentri Besar Datuk Mohd Amar Nik Abdullah said reports from the Kelantan Health.
— The Sun Daily

Newly elected PBK president asked to explain stand on Sarawak DAP
Newly elected president of Parti Bumi Kenyalang (PBK) Voon Lee Shan is asked to explain his stand on the DAP as he is still a party member.Sarawak DAP chairman Chong Chieng Jen said the former Batu Lintang assemblyman had not tendered his resignation so far.
— The Sun Daily

Sarawak govt urged to conduct soil integrity study for quarry operation
Deputy Minister of Domestic Trade and Consumer Affairs Chong Chieng Jen wants the Sarawak government to conduct a thorough study on soil integrity and potential threats to public safety in the vicinity of Kota Sentosa due to the operation of a quarry nearby.Chong said residents in nearby.
— The Sun Daily

Trade curbs on rare earth exports broadly disruptive, Fitch says
A possible blacklisting of US companies or a ban on rare earth metals exports to the US as retaliation for restrictions on Huawei would be disruptive for the US technology sector, Fitch Ratings said.
— The Star Online

No select committee so I appoint who I want, says Dr M
The prime minister again defends his appointment of Latheefa Koya, as well as other future key appointments.
— FMT News

Big crowd at KIA as celebrants return from hometowns
As the school holidays ended yesterday, families were seen leaving their hometowns after the Gawai-Raya celebrations.
— New Sarawak Tribune

207 road fatalities within 12 days
There were 207 road fatalities within a 12-day period of “Op Selamat 15” since it was launched on May 29 in conjunction with the Aidilfitri celebration.Royal Malaysian Police corporate communications head, Datuk Asmawati Ahmad said Selangor and Johor each recorded four fatalities,
— The Sun Daily

Feature photo Malaysian Pharmaceutical Society

This week’s Malaysia morning news feature photo acknowledges World Blood Donor Day, June 14.

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.