Malaysia morning news for June 25

Malaysia morning news for June 25

Malaysia morning news

Malaysia must raise productivity to achieve high-income status
Malaysia needs to increase its productivity if it is to achieve its goal to become a high-income nation in the next decade, said International Monetary Fund (IMF) managing director Christine Lagarde.
— The Star Online

Pasir Gudang MP: All chemical factories here should stop operations
All chemical factories in Pasir Gudang should immediately be directed to cease operations to ensure that the air pollution in the area is brought under control and to allow the air quality to improve.
— The Star Online

Malaysia willing to conclude RCEP without India: Mahathir
Malaysia is willing to conclude the Regional Comprehensive Economic Partnership (RCEP) without India “for the time being.”Speaking at the CNBC’s interview with Tanvir Gill today, Prime Minister Tun Dr Mahathir Mohamad (pix) said RCEP participants would have to consider which framework works best.
— The Sun Daily

Where did the RM51 billion go?
Finance Minister Lim Guan Eng should spend more time reducing Malaysia’s debt and finding a more equitable formula to share the country’s revenue among its three founding partners instead.
— New Sarawak Tribune

Goldman Sachs’ RM1 billion offer is peanuts, says Mahathir
Prime Minister Tun Dr Mahathir Mohamed (pix) has described the RM1 billion offered by Goldman Sachs as compensation for the role it played in 1Malaysia Development Bhd (1MDB) scandal as “peanuts” and “not adequate”.
— The Sun Daily

Dr M suggests international supervision of Rohingya returning to Myanmar
An independent international community should monitor the repatriation of the Rohingya back to Myanmar to ensure they are not punished, Tun Dr Mahathir Mohamad said today.
— Malay Mail

Malaysia’s Petronas Chemicals budgets US$6 billion for speciality portfolio deals
The chemicals arm of Malaysia’s state energy firm Petronas plans to spend roughly US$6 billion over the next 15 to 20 years to expand its speciality chemicals portfolio through acquisitions and partnerships, the unit’s chief executive said on Monday (Jun 24).
— Channel NewsAsia

Dr M: Intra-Asean trade small, time to boost commerce
Sluggish intra-Asean trade was one of the main concerns raised during the 34th Asean Summit, Prime Minister Tun Dr Mahathir Mohamad said today.
— Malay Mail

Sarawak will not go bankrupt in three years, CM reassures
Datuk Patinggi Abang Johari Tun Openg has reassured Sarawakians that Sarawak will not go bankrupt in three years as recently alleged by federal Finance Minister Lim Guan Eng. The Chief Minister and chairman of Gabungan Parti Sarawak (GPS) said he and other GPS leaders in Sarawak are aware of their obligations and what.
— The Borneo Post

Malaysia’s 1MDB criminal case against Goldman Sachs delayed to September
Malaysia’s criminal case against US investment bank Goldman Sachs involving US$6.5 billion (RM26.9 billion) 1MDB bonds will be postponed to September, a court ruled today, after defence lawyers asked for more time to.
— Malay Mail

Malaysia actively pursuing energy market reforms to attract investment: Azmin
Malaysia is actively pursuing energy market reforms to enhance the country’s attractiveness as the preferred destination for energy investments, said the Economic Affairs Minister Datuk Seri Mohamed Azmin Ali (pix) today.
— The Sun Daily

Dr Mahathir says he underestimated challenge of governing Malaysia
Prime Minister Tun Dr Mahathir Mohamad said he underestimated the challenges of governing the country before his shock election victory last year.
— The Edge Markets

SERC maintains 4.5%-4.7% GDP growth forecast amid downside risk from trade war
Socio-Economic Research Centre (SERC) is maintaining Malaysia’s gross domestic product (GDP) growth forecast of 4.5%-4.7% for this year, despite downside risk from the protracted US-China trade war.
— The Sun Daily

Islamic banking industry continues to offer financing to eligible Malaysians: Aibim
The Association of Islamic Banking and Financial Institutions Malaysia (Aibim) has ensured that its member banks will continue to provide access for Islamic finance banking products and services to eligible customers and businesses.
— The Sun Daily

MB World accepts RM97.9m loan facilities for JB housing project
MB World Group Bhd’s unit has accepted RM97.90mil in loan facilities from RHB Bank Bhd to undertake serviced apartment projects in Johor Bahru.
— The Star Online

Export value of Malaysia’s chocolate on the rise since 2015
Malaysian manufactured chocolates have been well received overseas with the export value showing a rise since 2015.
— Channel NewsAsia

A passage to Southeast Asia through Malaysia
Malaysia is a Muslim majority country in Southeast Asia, with a population of over 30 million consisting of Malays (67.4 percent), Chinese (24.6 percent), Indian (7.3 percent) and other races (0.7 percent). Muslims make up slightly over 60 percent of the total population, followed by adherents of Buddhism (19.8 percent), Christianity (9.2 percent), and Hinduism (6.3 percent).
— Daily Sabah

Malaysia’s digital arm to provide working visa for DLT freelancers
Distributed Ledger Technology (DLT) freelancers can work up to 12 months in the country The government’s digital arm Malaysia Digital Economy Corporation (MDEC) announced that it has partnered with the Singapore blockchain-based non-profit organisation NEM Foundation and the Estonian cross-border job marketplace Jobbatical.
— e27

Rating downgrade on Petronas will not affect company, says Mahathir
The recent downgrade of Petroliam Nasional Bhd’s (Petronas) domestic issuer and foreign currency senior unsecured ratings by Moody’s Investors Service is not expected to affect the national oil and gas company.
— The Sun Daily

Dr M: Prosper-thy-neighbour policy promotes concept of shared security
Malaysia must recognise the potential of its neighbours to forge strategic alliances on the back of a Prosper-Thy-Neighbour policy that promotes the concept of shared prosperity, Prime Minister Tun Dr Mahathir Mohamed said.
— Malay Mail

Survey: Malaysians more adverse to foreign powers intervening against war crimes
Less than half of Malaysians polled in a survey believe that other countries should intervene when a country commits war crimes if it infringes on national sovereignty.
— Malay Mail

BRI provides new ways to realise transformation
The Belt and Road Initiative (BRI) could provide new opportunities to realise economic and industrial structural transformation, observes Penang’s State Chief Minister Chow Kon Yeow.
— The Borneo Post

Scomi, prasarana enter completion agreement related to KL Monorail
Scomi Group Bhd’s indirect wholly-owned subsidiary, Scomi Transit Projects Sdn Bhd (STP) and government-owned Prasarana Malaysia Bhd, recently entered into an agreement (completion agreement) for the design, manufacture, completion and delivery of seven four-car revenue service vehicles and its systems for.
— The Sun Daily

Ahmad Zahid at MACC HQ again
Former deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi came to the headquarters of the Malaysian Anti-Corruption Commission (MACC) today. An MACC source said Ahmad Zahid arrived at about 9.30 am, an hour earlier than the scheduled appointment.
— The Borneo Post

KLCI sees profit-taking on the heels of previous strong finish
The FBM KLCI drifted lower on profit-taking on Monday following a strong rally in the previous week.
— The Star Online

Cement price war in Peninsular M’sia blamed for disparity in prices
A cement maker in Kuching has blamed the price war in Peninsular Malaysia for the difference in the prices of the item in the state and the peninsula.CMS Cement Industries (CMSCI) in welcoming Finance Minister Lim Guan Eng’s call to probe the difference in cement prices said it was purely due to the recent.
— The Sun Daily

Quick take: Evergreen slides 1.6% after units served with winding-up petitions
Evergreen Fibreboard Bhd’s shares fell 1.6% in early trade Monday after its units have been served with winding-up petitions.
— The Star Online

Higher cost to import gypsum among factors for higher cement prices in S’wak – Masing
Deputy Chief Minister Tan Sri Datuk Amar Dr James Jemut Masing has admitted that the cement prices in Sarawak is higher as compared to Peninsular Malaysia. However, Masing, who is Infrastructure Development Minister, stressed that there were a few factors which contributed to the prices of cement in the state that.
— The Borneo Post

Anwar says PM transition plan a ‘done deal’
PKR President Datuk Seri Anwar Ibrahim is confident with the succession plan, which will see him take over the reins from Prime Minister Tun Dr Mahathir Mohamad, saying that ‘it is a done deal’.
— The Borneo Post

Chow: Penang pilots biogas production from food waste
The Penang state government today launched a pilot project aimed at transforming food waste into biogas and fertilisers, while reducing the amount of waste at the landfill in Pulau Burung, Nibong Tebal.  Chief.
— Malay Mail

No need for PM’s Question Time in Parliament, says Liew
The minister says the Minister’s Question Time is enough for now.
— FMT News

Pasir Gudang MCA says Johor govt, authorities did not learn lessons from Sungai Kim Kim incident
Pasir Gudang MCA believes the state government and the authorities involved in the second air pollution incident here did not learn a lesson from the Sungai Kim Kim incident.
— The Star Online

No need for Prime Minister’s Question Time in Parliament now, says minister
The Prime Minister’s Question Time (PMQT) in Parliament is currently not needed, said Minister in the Prime Minister’s Department Datuk Liew Vui Keong.
— Malay Mail

List of proposed Suhakam commissioners sent to PM already, says Liew
A list of proposed commissioners for the Human Rights Commission of Malaysia (Suhakam) was submitted to Prime Minister Tun Dr Mahathir Mohamad a week ago, says Minister in the Prime Minister’s Department Datuk Liew Vui Keong.
— The Star Online

Foreign funds return to Bursa Malaysia, but marginal
Foreign funds bought RM28.3mil net of local equities last week, the second lowest weekly foreign net inflow recorded so far this year, according to MIDF Research.
— The Star Online

IMF’s Lagarde positive on Malaysia’s fiscal discipline
The International Monetary Fund (IMF) views Malaysia’s return to fiscal discipline as a positive, among other goals achieved since the general elections last year.”We are pleased to see that the 2019 Budget returned to fiscal discipline in order to make sure that the country is rebuilding its buffers just in.
— The Sun Daily

Pasir Gudang MP urges Johor govt to be transparent over pollution
The state government should be transparent and there should be no cover-ups with regards to the chemical pollution in Pasir Gudang.
— The Star Online

Trade war threatens best emerging-market bond gain in decade
Investors are optimistic after the Federal Reserve signal it was ready to cut interest rates, and the European Central Bank indicate more stimulus may be on the way.
— FMT News

Goldman’s 1MDB hearing pushed to Sept 30 because of incomplete charges
Malaysia pushed back a hearing for Goldman Sachs Group Inc’s 1MDB case to September after a lawyer representing the US bank said the process of filing the charges remains incomplete.
— The Star Online

Moody’s not necessarily right, Dr M says on Petronas downgrade
The prime minister says the downgrade will not affect the company, and that credit rating agencies are free to come up with their own assessments.
— FMT News

White paper on Malaysia’s energy future aimed at achieving Paris Agreement pledge
Petroliam Nasional Bhd (Petronas) is spearheading an industry-wide study with various agencies to develop an Oil, Gas, Energy and Environment White Paper on Malaysia’s Future Energy Landscape.
— The Sun Daily

Tough to hit Dr M’s 5% GDP target, says think tank
The Socio-Economic Research Centre says it is sticking to its forecast of 4.5% to 4.7% for the year.
— FMT News

MCMC says looking forward to TM’s proposal on resolving Streamyx issue
Recently, the Minister of Communications and Multimedia had requested TM to submit a report on its steps to tackle the Streamyx issue. TM has confirmed that they are committed to solving the issue and they will be.
— Malay Mail

Petronas’ White Paper to stimulate action towards achieving Paris Agreement, says PM
Petroliam Nasional Bhd (Petronas) is spearheading an industry-wide study with various agencies to develop an Oil, Gas, Energy and Environment White Paper on Malaysia’s Future Energy Landscape. Prime Minister Tun Dr.
— Malay Mail

Maritime launches SAR for a diver feared missing in Miri
A search and rescue (SAR) operation has been launched to locate a diver feared missing while conducting a diving exercise off Miri waters at 4.10pm yesterday.The Malaysian Maritime Enforcement Agency (Maritime) said the diver, a local man, Ho Soon Lee, 41, was conducting recreational diving at 4.5 nautical miles northwest.
— The Sun Daily

Prosper-thy-neighbour policy promotes concept of shared prosperity: Mahathir
Malaysia must recognise the potential of its neighbours to forge strategic alliances on the back of a prosper-thy-neighbour policy that promotes the concept of shared prosperity, Prime Minister Tun Dr Mahathir Mohamed (pix) said today.
— The Sun Daily

Sabah popular incentive tourism destination
Sabah is becoming increasingly popular as a destination for incentive tourism, said Deputy Chief Minister Datuk Christina Liew. She advanced this view after attending the Pearlosophy Incentive Dinner dubbed Diner en Blanc for some 1,000 agents of the cosmetic brand from China, at Shangri-La’s Rasa Ria Resort.
— The Borneo Post

Anwar confident power transition will take place, says it’s a done deal
KUALA LUMPUR: PKR President Datuk Seri Anwar Ibrahim (pix) is confident with the succession plan which will see him take over the reins from Prime Minister Tun Dr Mahathir Mohamad, saying that it is a done deal.He said although he found it unnecessary to talk about the transition issue, he could not help but acknowledge that …
— The Sun Daily

Scomi clinches RM122m monorail contract
Scomi Group Bhd has secured a RM122 million contract for seven four-car revenue service vehicles and its system for the Kuala Lumpur Monorail.Scomi told Bursa Malaysia that Scomi Transit Projects Sdn Bhd (STP) and Prasarana Malaysia Bhd (PMB) had on June 21 entered into an agreement for the design, manufacture,
— The Sun Daily

Handal JV secures RM360m Petronas Carigali contract
Handal Resources Bhd’s joint venture has received a letter of award from Petronas Carigali Sdn Bhd for the provision of a water injection module worth about RM360mil.
— The Star Online

Kumpulan Perangsang Selangor receives takeover offer for Sprint
Kumpulan Perangsang Selangor Bhd said its 20% associate company Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd has received a letter of offer from the Ministry of Finance (Incorporated) (MOF) to acquire all securities in Sistem Penyuraian Trafik KL Barat Sdn Bhd (Sprint) for RM1.98 billion.
— The Sun Daily

PM: Moody’s ratings for Petronas not necessarily accurate
Prime Minister Tun Dr Mahathir Mohamad has today expressed confidence in Petroliam Nasional Bhd (Petronas) despite the recent rating downgrade, due to Moody’s Investors Service revising its methodology last week.
— Malay Mail

Putrajaya launches YouTube ad campaign for preschoolers to report sexual harassment (VIDEO)
The Women, Family, and Community Development Ministry has today launched a new video campaign that aims to create awareness among preschoolers on the sexual harassment against children.
— Malay Mail

Litrak top gainer on Bursa on highway takeover offer
Lingkaran Trans Kota Holdings Bhd (Litrak) was the top gainer on Bursa Malaysia this morning, jumping to as high as RM5.00 on news that the government is offering to take over the four toll highways owned by Gamuda Bhd and Litrak for RM4.5 billion cash.
— The Sun Daily

Diver has reportedly gone missing in Miri waters
A search and rescue (SAR) operation has been launched to locate a diver feared missing while conducting a diving exercise off Miri waters at 4.10pm yesterday.
— Malay Mail

ABS aims to inspire entrepreneurs in Asia
Alibaba Business School (ABS) aims to inspire entrepreneurs in the Asian region to create inclusive and sustainable digital ecosystems in their home countries.
— The Borneo Post

IMF: Vital for Malaysia to boost policy buffers
Malaysia must continue to build its policy buffers, given the possibility of escalating global trade tensions, to ensure that it has room to manoeuver in the event of a downturn, said the International Monetary Fund (IMF).
— The Star Online

 

Feature photo Khalzuri Yazid

 

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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