Malaysia Morning News For March 20

Malaysia will return as Asian tiger in three years
Malaysia will return to its Asian tiger status in three years, says Finance Minister Lim Guan Eng.
— The Star Online

Malaysia’s Mahathir says some state-owned entities may be listed
Malaysia may list certain state-owned entities to cut government debt and liabilities, Prime Minister Mahathir Mohamad said on Tuesday (Mar 19) as it seeks new revenue sources to boost its fiscal position.
— Channel NewsAsia

Airbus to highlight full range of products, services at Lima 2019
Aircaft manufacturer Airbus will be the largest international exhibitor at next week’s Langkawi International Maritime and Aerospace Exhibition (LIMA) 2019, displaying its entire range of commercial aircraft, defence, space and helicopter products and services.
— The Borneo Post

Malaysia’s sugar tax to fund healthy breakfast programme in schools, says Mahathir
The Pakatan Harapan (PH) government will use revenue collected from an upcoming soda tax to fund a programme to provide free healthy breakfasts for primary school students from next year, Malaysian Prime Minister Mahathir Mohamad said on Tuesday (March 19).
— The Straits Times

“Be flexible or prepare for windfall tax,” Lim warns banks
“Be flexible, unless you prefer windfall tax,” says Finance Minister Lim Guan Eng to the banks today.
— The Borneo Post

MRCB stepping up the game in construction industry with MBS
Malaysian Resources Corporation Bhd (MRCB) is stepping up the game in the construction industry by eyeing to introduce the country’s first volumetric building system by year end.
— New Straits Times

China, Singapore will always be Malaysia’s key trade partners despite differences: Mahathir
China and Singapore will always be Malaysia’s key trade partners despite differences in views, Prime Minister Tun Dr Mahathir Mohamad told international investors gathered for a conference in the Malaysian capital.
— The Straits Times

Malaysia on ‘high alert’ after Christchurch shootings, says IGP
Inspector-General of Police Tan Sri Mohamad Fuzi Harun has ordered all state and district police chiefs to be on “high alert” for possible retaliation in the aftermath of the terror attacks at two mosques in Christchurch, New Zealand last Friday.
— Malay Mail

Malaysia’s February consumer prices seen falling 0.3 perfect year on year: Reuters poll
Malaysia’s consumer prices are expected to fall again in February, but at a slower rate than the previous month, a Reuters poll showed on Tuesday.
— Euro News

Malaysian govt rebuts report on inaction in Christchurch, says ‘doing its best’ to assist terror attack victims and families
Malaysia’s government is “doing its best” to assist Malaysian victims of the deadly Christchurch terror attack as well as their families, Malaysia’s foreign ministry said in a press release on Tuesday (Mar 19).
— Channel NewsAsia

Grab Malaysia to charge RM3 to RM5 cancellation fee, effective March 25
Grab Malaysia will start charging a fee on passengers who cancel or who are late to their ride after a certain allowed amount of time starting from March 25.
— The Star Online

Malaysia retail growth slows to 2.7% in 4Q18
Malaysia’s retail industry growth rate slowed to 2.7% year-on-year for the fourth quarter of 2018 (4Q18), compared to the 3.1% recorded in the same quarter a year earlier, significantly below expectations of 4.7% growth for the quarter.
— The Edge Markets

How one election meant sweeping press freedoms in Malaysia
BEFORE 2018, JOURNALISM IN MALAYSIA was a risky profession. There were direct controls on mainstream outlets across print and television. The party of the Prime Minister, Najib Razak, the United Malays National Organisation (UMNO), partially owned Utusan Malaysia, the largest Malay-language newspaper, which it used as a political tool. Journalists, bloggers and even one cartoonist who satirized Najib were arrested.
— CJR

Malaysia’s Biggest Pension Fund Sees Opportunities Amid Uncertainties, CEO Says
Alizakri Alias, chief executive officer of Employees Provident Fund CEO, Malaysia’s biggest pension fund with assets totaling about $203 billion, talks about the fund’s investments in the U,.K, Latin America and its domestic market. He speaks on the sidelines of the Invest Malaysia 2019 event on “Bloomberg Daybreak: Asia.” (Source: Bloomberg)
— Bloomberg

MAS retirees want to help revive airline
The Malaysia Airlines Retirees Association (MASRA) is offering to provide advice and its expertise in order to turnaround and save the ailing airline.
— The Star Online

PM: Govt plans mid-year budget review, may list govt entities
Tun Dr Mahathir Mohamad says the government will undertake a mid-year budget review where the criteria for off-budget allocation should be scrutinised.
— The Star Online

AAM says it remains the motorsports sanctioning authority in Malaysia, continues to perform its role
Earlier this week, it was reported in the news that the sports commissioner’s office (PJS) said through a statement that the Automobile Association of Malaysia‘s (AAM) status as a sports body had been cancelled, meaning that it no longer has the power to recognise, organise or engage in any motor sports activities, both locally and abroad.
— Paultan

Airport worker in critical condition after aircraft collision
A Malaysian Airport Holdings Berhad (MAHB) personnel is in critical condition after a private aircraft collided with an airport engineering vehicle.
— New Straits Times

Why some taxpayers did not receive their refunds in 2018
About RM486.29mil in tax refunds failed to be paid last year and the main reasons were due to taxpayers’ failure in updating personal data and bank account details.
— The Star Online

PLS Plantations approved company diversifying into durian business
Johor-based PLS Plantations Bhd shareholders have approved the oil palm and timber company’s diversification into durian business via the acquisition of a 70 per cent stake in Dulai Fruits Enterprise Sdn Bhd for RM21 million.
— New Straits Times

Malaysia revises contract for Littoral Mission Ships
A contract to build Littoral Mission Ships (LMSs) for the Royal Malaysian Navy (RMN) has been revised.
— Janes

MAHB to present RAB framework to govt in Q3 this year
Malaysia Airports Holdings Bhd (MAHB) expects to present its first Regulatory Asset Base (RAB) framework to the government and Malaysian Aviation Commission (Mavcom) in the third-quarter of this year.
— New Straits Times

Scientex Q2 earnings up on higher manufacturing, property sales
Scientex Bhd’s net profit for the second quarter ended Jan 31, 2019 soared 8.5% to RM73.75 million from RM67.98 million in the previous corresponding period, in line with the higher sales recorded in both the manufacturing and property divisions.
— The Sun Daily

Kenanga Research upgrades tm to ‘market perform’, TP at RM3.10
Kenanga Research has upgraded Telekom Malaysia Bhd (TM) to “Market Perform” with a higher target price (TP) of RM3.10 from RM2.50, following a plan by TM to adopt a more active asset management stance to strengthen its balance sheet.
— New Straits Times

T7 Global forms JV for marine services, naval tech biz in Malaysia
T7 Global Bhd is partnering with C2C-DB Systems Pvt Ltd (C2C-DBS) and Marine Crest Technology Sdn Bhd (MCT) for the marine services and naval technology business in Malaysia.
— The Sun Daily

AmBank to gain RM229.94 million from NPL disposal to SPVs
AMMB Holdings Bhd (AmBank Group) stands to post an estimated net gain of RM229.94 million from the disposal of AmBank (M) Bhd and AmBank Islamic Bhd’s bad loans to special purpose vehicles (SPVs) under Aiqon Capital Group Sdn Bhd.
— New Straits Times

Economist: Foreign investors’ sentiment dampened by long-term uncertainty
Long-term uncertainty on government’s policies and political stability will dampen further foreign investors’ sentiment.
— The Sun Daily

No lay-offs if civil service goes private
The privatisation of civil services will not result in existing civil servants losing their jobs, said Finance Minister Lim Guan Eng (pix).
— The Sun Daily

Umno to sue 30 lawmakers who quit party
Thirty MPs and assemblymen nationwide who were formerly from Umno will be taken to court for leaving the party after Election 2018, Tan Sri Annuar Musa said today.
— Malay Mail

Home minister has no power to ban books on Islam, court told
A Muslim group says the home minister has no powers to ban books on Islamic topics, as it seeks to challenge a ban imposed on three of its books by the government .
— FMT

Green bonds gain traction as responsible investing takes centre stage
The year 2018 has been a year of consolidation for the green bond market as good progress has been made in the development of taxonomies and harmonisation efforts.
— The Borneo Post

Minister: Police told to avoid Sedition Act use
Putrajaya has advised the Royal Malaysia Police (RMP) not to apply the Sedition Act 1948 pending its repeal, Datuk Liew Vui Keong said today.
— Malay Mail

Enough talk, time to set right our national schools
We can’t talk our national schools to greatness. We need to have the courage and determination to do something about it. I am referring to Prime Minister Dr Mahathir Mohamad’s views on making national schools great again.
— FMT

Malaysia calls for Singapore to commute Sarawakian’s death sentence
Malaysia is requesting for Singapore to commute the death sentence imposed on a Sarawakian for murder.
— New Straits Times

Feature photo Future Malaysia

This week’s Malaysia morning news feature photo acknowledges International Day for the Elimination of Racial Discrimination, March 21.

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.