Malaysia Morning News For March 29

RM9 billion invested in Malaysian aerospace from 2013-2018
Malaysia’s aerospace industry attracted RM9.01 billion in investments over the last six years, said Ministry of International Trade and Industry secretary general Datuk Lokman Hakim.
— The Borneo Post

Malaysia to begin delayed graft trial of former PM Najib next week
The corruption trial of former Malaysian prime minister Najib Razak on charges linked to a multibillion-dollar scandal at state fund 1MDB will start next week after a delay of nearly two months, his lawyer said on Thursday (Mar 28).
— Channel NewsAsia

Local natural gas price cannot go in line with spot price: MGA
Malaysian Gas Association (MGA) says local natural gas price adjustments cannot go in line with fluctuating spot liquefied natural gas (LNG) prices.
— New Straits Times

Maybank Investment cuts Malaysian economic growth forecast, expects policy rate cut this year
Maybank Investment Bank has cut its economic growth forecast for Malaysia to 4.7 per cent from 4.9 per cent previously and expects policy rate cut of 25 bps this year.
— New Straits Times

CIMB aims to disburse RM15bil to help finance SMEs
CIMB Bank Bhd has committed to disburse at least RM15 billion in the next two years to help finance 100,000 small and medium enterprises (SMEs) in the country.
— The Star Online

Malaysian food ranks low in global survey
Malaysian food does not rank high among visitors in the latest survey by YouGov, and Chef Wan thinks it could be due to its smaller “food-print”, among other reasons.
— The Star Online

Grab Malaysia drivers defend new cancellation fee policy
Grab drivers are defending Grab Malaysia’s move to charge users a fee for cancelling.
— The Star Online

PM Lee to meet Malaysia’s PM Mahathir in April for 9th Leaders’ Retreat
Prime Minister Lee Hsien Loong will meet his Malaysian counterpart Mahathir Mohamad in Putrajaya for the 9th Singapore-Malaysia Leaders’ Retreat next month.
— Channnel NewsAsia

Malaysia threatens to raise stakes in EU palm oil spat
Malaysia has said it would boycott EU goods, if the bloc goes ahead with its plan to restrict palm oil. Could the ongoing spat with Kuala Lumpur derail the European Union’s free trade ambitions in southeast Asia?
— DW

Deflation Is Now Public Enemy No. 1 in Malaysia
Don’t even think about it happening, Bank Negara Malaysia insists in its annual report. Categorically, there is no risk, Governor Shamsiah Yunus told reporters Wednesday. The two consecutive declines in the consumer price index aren’t indicative of a broad-based, sustained decline in prices or a jarring collapse in demand. And most components of the CPI basket are in the black, not red.
— Bloomberg

IAF Demonstrates HAL Tejas LCA Fighter Jet’s Flying Power at LIMA, Malaysia – Watch Video
Indian Air Force recently participated in LIMA, Malaysia with LCA-Tejas aircraft for the 1st time. The indigenous supersonic fighter jet Tejas showcased its flying power and a video has been shared by the Indian Air Force Twitter handle.
— News18

Japan’s top brokerage firm bullish on Malaysian CPO
KUALA LUMPUR: Japan’s foremost brokerage firm, Yutaka Shoji, is bullish on Malaysian crude palm oil (CPO) and is investing more than RM13 million in its operations in Malaysia.
— FMT

Highest number of complaints 2018 about network and price issues
The most number of complaints received from the public in 2018 were about communications and multimedia networks and prices, said the Communications and Multimedia Consumer Forum of Malaysia (CFM).
— Malay Mail

PNB announced highest dividend payout of RM15b since 1981
Permodalan Nasional Bhd (PNB) distributed its highest ever dividend payout since its establishment in 1981 after posting improved overall performance despite challenging global landscape last year.
— New Straits Times

Sunway to open three new malls
Sunway Bhd, one of the country’s top five mall operators, will be opening three new shopping malls within the next four years, with an allocation of between RM500 million and RM1 billion for each mall.
— The Star Online

E-commerce platforms break boundaries for Sarawak-made products
E-commerce platforms such as Shopee breaks geographical boundaries for the state by putting the spotlight on quality Sarawak-made products, said the Ministry of International Trade and E-Commerce (MITeC) Sarawak.
— The Borneo Post

ECM Libra sells Libra Invest to Kenanga Investors for RM50.07m
ECM Libra Financial Group Bhd (ECMLFG) has entered into a conditional share purchase agreement with Kenanga Investors Bhd to dispose of its 100 per cent stake in Libra Invest Bhd for RM50.07 million.
— New Straits Times

EPF outsources RM117.56bil to external fund managers
KUALA LUMPUR: The Employees Provident Fund (EPF) has outsourced a total of RM117.56bil to external fund managers as at Dec 31, 2018, an increase of 2.62%, as compared with RM114.56bil at the end of 2017.
— The Star Online

PNB declares 6 sen income distribution for ASB2, 5.5 sen for ASM
Permodalan Nasional Bhd (PNB) has declared an income distribution of six sen per unit for Amanah Saham Bumiputera 2 (ASB2) and 5.5 sen per unit for Amanah Saham Malaysia (ASM) for the financial year ending March 31, 2019.
— The Star Online

Sarawak’s O&G to benefit from increasing work visibility
Sarawakian oil and gas (O&G) players as well as those in the immediate supporting industries stand to gain from an increase in contracts this year.
— The Borneo Post

Mah Sing acquires land in Mukim Petaling for RM90.3mil
KUALA LUMPUR: Mah Sing Properties Sdn Bhd, a wholly-owned subsidiary of Mah Sing Group (Mah Sing), has acquired a plot of freehold land in Mukim Petaling for RM90.3 million, inclusive of development charges.
— The Star Online

Malaysia a key market for Russian Helicopters
Malaysia remains one of the key markets in Southeast Asia for Russian Helicopters.
— The Borneo Post

Attract right investments to tackle low-wage issue: BNM asst governor
Efforts must be stepped up to address the issue of low wages faced by Malaysians workers, such as attracting the right investments to the country, upskilling the local workforce and reducing the reliance on foreign workers, Bank Negara Malaysia assistant governor Marzunisham Omar (pix) said today.
— The Sun Daily

Berjaya Corp posts sixfold jump in pre-tax profit for Q3
Berjaya Corp Bhd’s (BCorp) pre-tax profit for the third quarter ended Jan 31 surged more than sixfold to RM39.05 million from RM6.35 million a year ago underpinned by improved performances from the marketing of consumer products and services segment.
— The Sun Daily

MRCB unit gets winding-up petition
Malaysian Resources Corp Bhd’s (MRCB) wholly owned subsidiary MRCB Builders Sdn Bhd (MBSB) has been served with a winding-up petition by Southern Builders (J) Sdn Bhd.
— The Sun Daily

Malaysia condemns latest Israeli attack on Gaza
Malaysia has condemned Israel’s latest attack on Gaza.
— New Straits Times

Malaysia’s ‘flying car’ is actually a drone, says vehicle’s maker
The “flying car” that Malaysia is purportedly developing is actually a drone that can carry people and cargo, the vehicle’s makers have clarified.
— Today Online

MCMC: Telco providers told to be prepared for advent of 5G
Telecommunications providers have been urged to be prepared for the upcoming 5G requirements.
— Malay Mail

Mida eyes RM13b approved investments for E&E industry in 2019
KUALA LUMPUR: Malaysian Investment Development Authority (Mida) expects higher approved investments of RM13 billion for electrical and electronic (E&E) industry in 2019, an increase of 16.07% from RM11.2 billion in 2018, supported by the sector’s strong and vibrant ecosystem.
— The Sun Daily

Minister: Govt may raise age eligibility limit for mySalam scheme
The government is to consider a proposal to enable people older than 55 years of age to benefit from the mySalam national health protection scheme now available for people between 18 and 55, the Dewan Rakyat was told today.
— Malay Mail

40 ships anchor in Langkawi waters
A parade of 40 local and international ships anchoring off Langkawi in conjunction with the 2019 Langkawi International Maritime and Aerospace Exhibition (Lima ‘19) was very hypnotising and attracted the attention of the government administration’s delegation headed by Prime Minister Tun Dr Mahathir Mohamad.
— Daily Express

Malaysia’s export growth to halve in 2019
Malaysia’s export growth will likely soften to 3.4% in 2019 from 6.8% last year, in line with the more moderate global economy expansion and trade activity, according to Bank Negara Malaysia (BNM).
— The Edge Markets

Vitronic is open for business in Malaysia and South-East Asia
With its grand opening and ribbon-cutting event on March 28, industrial machine vision solutions provider Vitronic is now open for business in Penang.
— The Star Online

Digi says network back up following service outages nationwide
As of 11:20am, Digi has fully restored its network. Customers are urged to switch “Flight Mode” on and off, or restart the phone if they are still having issues connecting to their network.
— Malay Mail

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