Malaysia Morning News For March 1

Malaysia’s AirAsia falls to first quarterly loss since 2015 as fuel costs rise
AirAsia Group Bhd flipped to a net loss in the fourth quarter, its first quarterly loss in more than three years as higher fuel prices and operating lease costs dented income.
— The Straits Times

Malaysia ‘very open for business’ with China, says deputy trade minister
The recent revival of negotiations for the deferred multi-billion ringgit East Coast Rail Link (ECRL) project indicates Malaysia under the Pakatan Harapan (PH) government is still very keen to continue business with China, Ong Kian Ming said.
— Malay Mail

Singtel and Axiata in mobile financial and digital services pact
The Singtel Group and Malaysia’s Axiata Digital have sealed an initial agreement in Spain to collaborate in the areas of mobile financial and digital services to support Asean’s efforts to grow the digital economy.
— New Straits Times

Businesses less optimistic in first half
Expectations of businesses turn less optimistic for the first half of 2019, with the overall net balance registering 0.6% against 12.3% recorded in the previous survey result, according to Statistics Department.
— The Sun Daily

Online cheats offer degrees in Malaysia
According to a report from local news site The Malaysian Insight, fake degrees from both local and international HEIs can be bought for as little as £2,200.
— The pie news

Malaysia 1Q2019 business confidence drops — Statistics Department
The Statistics Department said today Malaysia business confidence lessened for the first quarter of 2019 (1Q2019) after the confidence indicator based on its business tendency survey dropped to -2.2%.
— The Edge Markets

Malaysia didn’t meet its tourism goal for 2018 due to a fall in Singapore visitors, Tourism Malaysia director-general says
Malaysia is still short of its goal of 30 million tourists a year for Visit Malaysia 2020, with visitor arrivals in 2018 at 25.8 million, tourism minister Datuk Mohamaddin Ketapi said on Wednesday (Feb 27), Bernama reported.
— Business Insider

AirAsia’s 2018 net profit rises to RM1.98b
AirAsia Group Bhd’s net profit for the financial year ended Dec 31, 2018 increased to RM1.98 billion compared with RM1.63 billion recorded in 2017.
— New Straits Times

MAHB launches KL Sustainability Charter to lead national aviation growth
Malaysia Airports Holdings Bhd (MAHB) has launched its Kuala Lumpur International Airport (KLIA) Sustainability Charter in its bid to lead the national aviation industry and its corresponding communities to embrace ecological, social and economic strategies.
— New Straits Times

Malaysian policeman detained for allegedly trying to smuggle 47 pangolins into Thailand
A Malaysian policeman was detained on Thursday (Feb 28) for allegedly trying to smuggle 47 pangolins worth more than 1 million baht (US$31,700) into Thailand.
— Channel NewsAsia

Over 51 developers to showcase projects
The three-day Home Ownership Campaign (HOC) 2019 expo which starts tomorrow will showcase real estate projects by top 10 developers listed on Bursa Malaysia, among others, and they will all offer a minimum 10 per cent discount to house buyers.
— New Straits Times

How MM2H applicants effect Malaysia’s property market
MM2H or Malaysia My Second Home is a programme which features Malaysia as a second home for foreigners. Many foreigners love living here because Malaysia is a friendly nation with a multicultural society.
— FMT

GEN Malaysia 4Q profit helped by tax gain, year loss on notes
Fourth-quarter profit at casino operator Genting Malaysia Bhd rose 60.1 percent on revenue that actually fell slightly.
— GGR Asia

RHB Bank records net profit of RM2.31 bln
RHB Bank Bhd (RHB Bank) posted a record net profit of RM2.31 billion, up 18.2 per cent year-on-year (y-o-y) for the financial year ended December 31, 2018 (FY18).
— The Borneo Post

Poll: SST raises cost of doing business
The sales and service tax (SST), which was introduced in September 2018, have increased the cost of doing business among Malaysian manufacturers by up to 10%, according to a recent survey by the Federation of Malaysian Manufacturers (FMM) and the Malaysian Institute of Economic Research (MIER).
— The Star Online

Traffickers no deterrent for Rohingya refugees dreaming of Malaysia
Amina Begum, a Rohingya woman living in a refugee camp in Bangladesh, is undeterred in her quest to join her husband in Malaysia even though she already fell prey to traffickers once.
— FMT

Lynas auditor flags ‘material’ risk over waste export timeline
Auditors to rare earths producer Lynas Corp flagged a material risk to its business today, after Lynas said it could not meet a timeline from Malaysian regulators to export a waste product before its operating licence comes up in September.
— FMT

Cash-rich MAA Group hits limit-up, surges to multi-year high
Shares of low-profile MAA Group hit limit-up, surging the maximum 30 sen a share to a multi-year high of 90 sen on Thursday.
— The Star Online

Putrajaya bets on award-winning school module to nip road accidents
Putrajaya launched a new road safety education module (PKJR) today amid heightened concern about the rising number of traffic-related deaths, hoping it will nip the problem in the bud.
— Malay Mail

SFFC makes inroads in Malaysia
The Southern Forests Food Council (SFFC) will continue to explore opportunities for Western Australian avocado exports after making inroads in the Malaysian market this season.
— Fruit net

MACC brings in PAS sec-gen
The Malaysian Anti-Corruption Commission (MACC) summoned PAS secretary-general Datuk Takiyuddin Hassan for an interview today.
— Malay Mail

Mahathir doles out cash to win over disgruntled Malaysian public
The Malaysian government has revived measures its leader once deemed as cynical ploys to win votes following criticism that it has not done enough to lower the cost of living.
— Nikkei Asian Review (paywall)

Marriott International to open 3 more hotels in Malaysia
Marriott International is aggressively cementing its position in Malaysia, with the company expected to open three more hotels this year, adding to the current 27 hotels operated in the country, supported by strong fundamentals for the Malaysian market.
— The Borneo Post

FGV posts RM1bil net loss in FY18 due to impairments, provisions
FGV Holdings Bhd posted net losses of RM1.08bil in the financial year ended Dec 31, 2018 as it was impacted by impairments and provisions of RM1bil.
— The Star Online

Palm rebounds on expectation of slowing monthly production
Malaysian palm oil futures rose on Thursday, recovering from four straight sessions of declines to a near two-month low in the previous session, on expectations of slowing monthly production.
— The Sun Daily

Malaysia’s AG lodges police report over allegation
Malaysia’s Attorney General Tommy Thomas has lodged a police report against an allegation that he is anti-Islam.
— The new paper

TH Plantations posts RM578mil loss in last quarter
TH Plantations Bhd has posted a massive RM578mil loss in the last quarter ended Dec 31, as newly appointed chief executive officer (CEO) Muzmi Mohamed begins the painful task of turning around the embattled company.
— The Star Online

Businessman arrested over ‘missing’ RM2.89 million ring
Police have arrested a local businessman in connection with a diamond and ruby ring worth RM2.89 million which allegedly went missing from a jewellery outlet in Genting Highlands last Sunday.
— FMT

Bintulu Port posts RM142 million net profit for 2018
Bintulu Port Holdings Bhd’s net profit for the financial year ended Dec 31, 2018 was lower at RM142.044 million from RM154.172 million chalked up a year earlier.
— The Borneo Post

Explanations Sought For Cash Payments To Vell Paari By MIC’s Maika Holdings
Sarawak Report has exclusively sighted documents linked to the liquidation of the now notorious Maika Holdings, which indicate that hundreds of thousands of ringgit were passed in cash payments and payments to companies connected to the fund’s CEO, Vell Pari, during the years 2003-2009, preceeding its collapse.
— Sarawak Report

Feature photo International Rhino Foundation

This week’s Malaysia morning news feature photo acknowledges World Wildlife Day, March 3.

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.