Malaysia morning news for June 14

Malaysia morning news for June 14

Malaysia morning news

Approved FDI in Q1 up 73% to RM29.3b, says Guan Eng
Approved foreign direct investment (FDI) in the first quarter of 2019 surged by 73.4% to RM29.30bil from RM16.90bil a year ago, Finance Minister Lim Guan Eng said.
— The Star Online

Transport Ministry caps bus fares between KL and Seremban at RM6.50
Bus companies travelling between Kuala Lumpur and Seremban in Negri Sembilan can only charge each passenger a maximum of RM6.50 per trip, Transport Minister Anthony Loke said today.
— Malay Mail

Trade War Spurs 1,360% Investment Jump in Malaysian State
The Malaysian state of Penang is winning from global investors’ search for safe havens amid the U.S.-China trade tensions.
— Bloomberg

ECRL civil works portion attracts 1,321 contractors
The civil works portion of the RM44 billion East Coast Rail Link (ECRL) project has attracted 1,321 submissions from construction companies during the prequalification exercise held on May 29 and 30.
— The Sun Daily

Maybank says banking slip for Azmin fake
Maybank today refuted a banking slip bearing its name that alleged the transfer of US$741,440 (about RM3.1 million) to minister Datuk Seri Azmin Ali’s account.
— Malay Mail

Selangor, Kuala Lumpur prisons overpopulated by 3,700 inmates
The number of inmates in Selangor and Kuala Lumpur prisons has exceeded the capacity limit of 8,200 by 3,700, said Selangor and Federal Territory Kuala Lumpur Prisons director, Abd Kadir Rais.He said currently the Sungai Buloh Prison, Kajang Prison, Kajang Women’s Prison and Puncak.
— The Sun Daily

Chamber to host Malaysia SME Business Summit
The Chinese Chamber of Commerce and Industry of Kuala Lumpur and Selangor (KLSCCCI) will host the Malaysia SME Business Summit themed ‘Transform, Innovate & Elevate’ on June 25 at the JW Marriott Hotel, Kuala Lumpur.
— The Borneo Post

KL-Seremban bus firms must now offer women-only coaches daily, says transport minister
Transport Minister Anthony Loke today announced that express bus firms travelling between Kuala Lumpur and Seremban, Negri Sembilan must now provide coaches exclusively for women passengers on a daily basis. He said the new…
— Malay Mail

Penang to crack down on illegal plastic waste processing
The Penang government will take stern action against factories that are illegally processing plastic waste, said state Welfare, Caring Society and Environment Committee chairman Phee Boon Poh.
— The Sun Daily

Ensure substantive deliverables when Malaysia hosts Apec 2020, says Dr M
Malaysia needs to show firm commitment to produce substantive deliverables when Putrajaya becomes the host of the Asia-Pacific Economic Cooperation (Apec) next year, says Prime Minister Tun Dr Mahathir Mohamad.
— Malay Mail

Special committee formed to monitor CPO prices – Teresa Kok
The Federal government has formed a special joint committee headed by the Ministry of Primary Industries to monitor and ensure that crude palm oil (CPO) prices will remain stable when the country implements the B20 biodiesel fuel next year.
— The Borneo Post

Najib’s SRC trial ends early today after defence sees ex-director contradicting previous statement
Datuk Seri Najib Razak’s trial over RM42 million in SRC International Sdn Bhd funds was halted today after the defence applied for an adjournment over alleged contradictions between a witness’s testimony and written.
— Malay Mail

S’pore recall Starfresh bottled water from M’sia after bacterial find
The Singapore Food Agency (SFA) on Wednesday ordered a recall of Starfresh bottled drinking water from Malaysia after bacteria was found in samples of the product, reports Vietnam News Agency.
— The Star Online

Malaysia needs to claim rich history
SINGAPORE is celebrating its bicentennial. Isn’t that remarkable? A young nation that attained First World status without fanfare. But compared with Malaysia and Indonesia, Singapore lacked a certain history.
— New Straits Times

Some limited upside bias for FBM KLCI, says HSBC
There could be limited upside for the FBM KLCI although the bias remains to the upside, said HSBC Private Banking’s chief market strategist, Southeast Asia James Cheo.
— The Star Online

HSBC forecasts 4.5% GDP growth this year on robust private consumption
HSBC Private Banking has forecast Malaysia’s gross domestic product growth to stay firm at 4.5% in 2019 and 4.3% in 2020, as private consumption is going to remain robust despite a more uncertain global trade environment.HSBC Private Banking chief market strategist for Southeast.
— The Sun Daily

Greatech Technology makes solid debut on Bursa’s Ace market
Greatech Technology Bhd makes a solid debut on Bursa Malaysia’s ACE market today, opening at 63.5 sen, a 4% premium over its offer price of 61 sen.At 10.37am, it traded at 70 sen with 88 million shares traded giving it a market capitalisation of RM438.2 million.
— The Sun Daily

KRU launches Malaysia’s first commercial render farm for film production
Malaysia’s KRU Group and China’s VSOCloud have come together to form Malaysia’s first render farm for studios in the region, with the aim to enhance local films, TV shows as well as the animation industry.

Maritime Malaysia drives away Indonesian boat in spirit of Aidilfitri
The Malaysian Maritime Enforcement Agency (MMEA) issued a warning before asking an Indonesian fisherman boat to leave after it had intruded into Malaysia waters at 10 nautical miles of south Pulau Jarak here this morning.
— The Sun Daily

UOB Malaysia launches business transformation plan
United Overseas Bank (Malaysia) Bhd launched a three-month business transformation programme on Thursday to help businesses in Malaysia adopt technology to drive productivity and growth.
— The Star Online

PSC wants Latheefa to brief them on her ‘mission and vision’ as MACC chief
Newly appointed Malaysian Anti-Corruption Commission (MACC) chief Latheefa Koya will have to appear before Parliament’s Special Select Committee (PSC) on Major Public Appointments, says its chairman William Leong.
— The Star Online

Dr M to make three-day visit to UK from June 15
Prime Minister Tun Dr Mahathir Mohamad will be making a three-day working visit to the United Kingdom (UK) from June 15. According to Wisma Putra’s statement today, Dr Mahathir’s intinerary includes delivering a talk.
— Malay Mail

Fees to still be affordable for B40 group after GP fee hike, says MMA
The Malaysian Medical Association (MMA) says general practitioners (GPs) in standalone clinics will still charge low-income B40 patients affordable fees, even if rates were raised.
— The Star Online

In new Facebook post, ‘Haziq’ claims Azmin to be video recorder
The man claiming to be Mohd Haziq Abdul Aziz resurfaced on Facebook today, alleging four past sexual encounters with Datuk Seri Mohamed Azmin Ali and that the economic affairs minister had video-recorded them all.
— Malay Mail

Lee Chong Wei retires after cancer battle
Cancer-hit badminton star Datuk Lee Chong Wei announced his retirement Thursday, ending a brilliant career in which he collected a swathe of honours.”My decision to retire is a heavy one. I really love this sport. But it is a demanding sport.
— The Sun Daily

Serve the people, stop indulging in gutter politics, says S’wak minister
Malaysian politicians should focus on doing their work well instead of engaging in gutter politics to get ahead, says a Sarawak minister.
— The Star Online

Indonesia, Malaysia, Philippines to hold joint exercise
Indonesia, Malaysia and the Philippines have agreed to hold a joint land patrol exercise next month to tackle security challenges in the waters between Borneo island and the southern Philippines, the Vietnam News Agency reported.
— The Sun Daily

Construction services GDB tendering for RM2.9b projects
GDB Holdings Bhd has tendered for RM2.9bil worth of residential and commercial building projects in the Klang Valley, its managing director Cheah Ham Cheia said.
— The Star Online

Communist Party of China’s delegation calls on Dr Mahathir
Prime Minister Tun Dr Mahathir Mohamad today received a courtesy call from Political Bureau of the Communist Party of China (CPC) Central Committee member, Li Xi, at Perdana Putra, here today.During the 30-minute meeting, Li, who was accompanied by a CPC delegation, and Dr Mahathir.
— The Sun Daily

Quick take: Lafarge surges to 13 month high of RM4.25
Shares of cement maker Lafarge Malaysia Bhd surged to a high of RM4.25, the highest since May last year after AmInvestment Bank has advised minority shareholders to reject YTL Group’s takeover offer of RM3.75 a share.
— The Star Online

Location does matter in property business
When it comes to property, there is no denying that location is one of the prime considerations. Location can even potentially make or break a business.
— New Sarawak Tribune

Ringgit opens lower against US dollar
The ringgit declined against the US dollar on Thursday morning as investors anticipate the resumption of a trade war between the US and China, a dealer said.At 9 am, the ringgit was at 4.1620/1650 against the greenback from 4.1550/1600 at Wednesday’s close.
— The Sun Daily

Four parties discuss MoU on rhino conservation
A meeting involving four parties was convened to discuss the implementation of the provisions of the Draft Memorandum of Understanding (MoU) on Conservation of the Sumatran Rhinoceros at the Ministry of Tourism, Culture and Environment on Tuesday.
— The Borneo Post

Videos allegedly linked to minister politically motivated: PM
Prime Minister Tun Dr Mahathir Mohamad described the recent spreading of sex videos allegedly linked to a minister, as having a political agenda.He said the authenticity of the clips were questionable because now, many parties were good in editing and producing pictures and videos.
— The Sun Daily

Recycling centre goes up in smoke
Seventy per cent of a recycling centre at Ong Tiang Swee Road here was razed by a fire on Tuesday night. Twelve firemen from the Batu Lintang Fire and.
— New Sarawak Tribune

UOB: May foreign outflows at RM6.2 billion as US-China trade war hots up
The escalation of the US-China trade war continued to affect Malaysian equities and debts in May with foreign portfolio outflow totalling RM6.2 billion, according to UOB Global Economics & Markets Research.
— The Sun Daily

Wegmans to transfer listing to Main Market by Q4
Home furniture manufacturer Wegmans Holdings Bhd is looking to transfer its listing on the ACE Market to the Main Market of Bursa Securities by the fourth quarter of 2019.In a filing with Bursa Malaysia, the company said that the proposed transfer will enhance its credibility,
— The Sun Daily

BAuto FY19 net profit leaps, declares 10.5 sen dividend
Bermaz Auto Bhd (BAuto), which reported a 5% growth in net profit for the fourth quarter ended April 30, 2019, declared a 10.5 sen dividend per share comprising 3.5 sen fourth interim dividend and 7 sen special dividend.
— The Sun Daily

Today’s top tech news, June 12: Trading platform Funderbeam raises US$4.5M funding
Also, Amadeus Ventures to invest in travel tech startup Volantio, and Deskera partners P2P financing platform Funding Societies Trading platform Funderbeam raises US$4.5M Series A funding [Press Release] Funding and trading platform for private companies Funderbeam announced that it has raised.
— e27

Company supervisor crushed to death by falling machinery in Johor Baru
A company supervisor died when a machine fell on him at a factory in Jalan Firma 3, Tebrau Industrial Estate IV, here this afternoon. Johor Baru South police chief Assistant Commissioner Shahurinain Jais said Aslan Mohd.
— Malay Mail

Bursa Malaysia extends losses, opens lower
Bursa Malaysia extended yesterday’s losses to opened lower today, taking the cue from the overnight slip on Wall Street, amid a backdrop of continuing US-Sino trade spat, dealers said.At 9.05 am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) fell 7.70 points to 1,643.04 from 1,650.74.
— The Sun Daily

India formally requests Malaysia to extradite Zakir Naik
The government of India has made a formal request to the Malaysian government to send back its citizen and controversial Islamic preacher Dr Zakir Naik to face money laundering charges at home.
— Malay Mail

FT Ministry considers having Borneo Street
The Federal Territory Ministry is willing to look into the possibility of having a Borneo Street here to help promote products from Sabah and Sawarak, its minister Khalid Samad said today.He said it will also serve as a platform to bring about closer integration between Sabahans,
— The Sun Daily

Penang govt endorses use of DoctorOnCall app
The Penang state government is encouraging the use of the DoctorOnCall app to help alleviate the problem of congestion at the Penang General Hospital.”I’ve been told that all that’s required by a patient is a mobile device with access to the Internet,” Penang Chief Minister,
— The Sun Daily

Dirty tactics reason why Malaysian youths stay away from politics, says Syed Saddiq
Pakatan Harapan youth chief Syed Saddiq Abdul Rahman today said the main reason why Malaysian youths have chosen to distance themselves from politics is due to the existence of gutter politics.
— Malay Mail

Proton Edar partners Altel Comm, China’s Ecarx Technology
DRB-Hicom Bhd’s unit Proton Edar Sdn Bhd is forming a joint venture (JV) company with Altel Communications Sdn Bhd and Ecarx (Hubei) Technology Co Ltd.In a filing with Bursa Malaysia, DRB-Hicom said the JV company will provide research and development, sales and services of vehicle.
— The Sun Daily

InvestKL CEO Zainal Amanshah to step down on July 10
InvestKL pioneer, Datuk Zainal Amanshah will step down from his position as chief executive CEO when his contract ends on July 10, 2019.
— The Star Online


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.

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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