Malaysia morning news for May 8

Malaysia morning news for May 8

Malaysia morning news

Finance minister: Malaysia embracing digital technology in bid to become high-income nation
Finance Minister Lim Guan Eng said Malaysia is embracing digital technology especially 5G as a launching pad to become a high-income nation.
— Malay Mail

Malaysia: Almost €4 million allocated to strengthen Sarawak durian industry
As part of the government’s crop diversification programme, a sum of RM18 million (€3.88 mln) has been set aside this year to further develop and strengthen Sarawak’s durian industry.
— Fresh Plaza

Rating agencies confident Malaysia can reach fiscal targets
The international rating agencies are confident Malaysia will meet its fiscal targets, particularly the 3.4% fiscal deficit to GDP ratio this year, the Finance Ministy said in a statement.
— The Star Online

Malaysia is no. 1 in Southeast Asia — on property obsession
Malaysia has topped the list as the most property-obsessed country in Southeast Asia. Globally, the country is fourth, behind UAE, USA and Taiwan.
— The Edge Markets

Sarawak to spend RM5.1b on water, electricity over two years, says state minister
Sarawak’s Ministry of Utilities has been allocated RM5.1 billion to carry out water and electricity supply projects over the next two years, its minister Datuk Seri Stephen Rundi said today.
— Malay Mail

Petra Energy posts RM1.7mil profit in Q1
Oil and gas contractor Petra Energy Bhd said higher work order flow and increased vessel utilisation rate boosted its profits in the first quarter.
— The Star Online

Malaysia: Ramping up durian exports to China
As Malaysia blazes ahead to increase durian exports to China, unconventional creations such as durian pizza or durian hotpot may be the key to winning a growing market that has long been dominated by Thailand.
— Fresh Plaza

Lafarge to resume cement supply to ECRL
Lafarge Malaysia Bhd can resume supplying cement for all eight packages of work for the proposed East Coast Rail Link (ECRL) project.
— The Star Online

Hosting F1 will be an act of escapism
Given Malaysia’s current financial situation, hosting this multi-million ringgit project will only paint the government as being short-sighted and hoping to distract from the real issues with fancy fast cars.
— FMT News

Dr M’s 5 out of 10 score a fair assessment, says Dr Maszlee
The five out of 10 score given by Prime Minister Tun Dr Mahathir Mohamad on the performance of his Cabinet ministers over the past one year since Pakatan Harapan (PH) took over the government is a fair assessment, says Education Minister Dr Maszlee Malik.
— The Star Online

PH govt needs the civil service: Daim
You are dead without the civil service — that was the warning issued by Tun Daim Zainuddin to ministers in the Pakatan Harapan (PH) cabinet, just days before its one-year anniversary in power.
— The Sun Daily

Malaysian ‘property addicts’ put off having children for perfect home, says analyst
Malaysia has been ranked as the most property-obsessed nation in the Asean region, which has in turn contributed to many delaying other important life stages including marriage, having children and cutting back on other.
— Malay Mail

Pakatan’s first year as govt: Good management vital for developing Malaysia, says Dr Wan Azizah
Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said the Pakatan Harapan (PH) government has laid strong foundations via a well-run administration to keep Malaysia on the right development track. PH has been working…
— Malay Mail

Malaysia makes first rate cut since 2016 to spur growth
Malaysia’s central bank yesterday cut its benchmark interest rate for the first time since July 2016, seeking to support the economy as global risks mount.
— The Straits Times

Witness: KWAP’s RM4b loans to SRC were Shariah-compliant contracts to buy, sell assets
Retirement Fund Incorporated’s (KWAP) two loans totalling RM4 billion to SRC International Sdn Bhd were structured as Shariah-compliant contracts for the latter to sell and buy back its assets, the High Court heard today.
— Malay Mail

Education Ministry to propose new Higher Education Act
The Ministry of Education is planning to have a new Higher Education Act enacted to eliminate barriers to free speech in universities, said deputy minister Teo Nie Ching.
— The Sun Daily

Myanmar press freedom ‘suffocating’ despite Reuters reporters’ release
Myanmar is ranked 138 out of 180 countries for press freedom by Reporters Without Borders.
— FMT News

MITI expects Malaysia’s April trade figures to improve
Malaysia’s trade figures for April are expected to improve despite the worsening global trade tensions, particularly between the US and China, said International Trade and Industry Deputy Minister Dr. Ong Kian Ming.
— The Star Online

Top rating agencies give thumbs up on M’sian economy
Top international rating agencies are confident that the country will achieve its fiscal targets for this year, according to the Finance Ministry.
— The Sun Daily

Malaysia says United States returned $57m in 1MDB funds
Amount repatriated was forfeited from a Hollywood film production company linked to Najib’s stepson Riza Aziz.
— Aljazeera

Bank Rakyat allocates RM200m for OGSE vendors
Bank Rakyat today announced a RM200 million allocation to assist small and medium enterprises (SMEs) in the oil and gas service and equipment (OGSE) sector through a vendor financing programme.
— The Star Online

RM236 million from Riza’s Hollywood firm back in Malaysia, says AG
The government has received some US$57 million (RM236 million) from Red Granite Pictures – the film production company linked to the stepson of former prime minister Najib Razak, Riza Aziz – which was accused of using money embezzled from 1MDB.
— FMT

Malaysian politician dies of heart attack after learning brother died
A politician in Sungai Petani, Kedah, died of a heart attack after learning of his brother’s sudden death, Makkal Osai reported.
— AsiaOne

Sorry for failing to get Putrajaya to spend on Sarawak, says state tourism minister
Sarawak Tourism, Arts, Culture, Youth and Sports Minister Datuk Abdul Karim Rahman Hamzah issued an apology in the state legislative assembly today after the Pakatan Harapan (PH) federal government cancelled several projects.
— Malay Mail

Dewan Negara approves RM4.133bil supplementary supply bill Tuesday (May 7)
The Dewan Negara Tuesday (May 7) approved the RM4.133bil Supplementary Supply (2018) 2019 Bill for additional expenditure with a majority vote after the third reading.
— The Star Online

Loke: E-hailing drivers don’t have to change status of vehicles to e-hailing private vehicles
E-hailing drivers have been given the flexibility of not changing their vehicle category from individual private vehicle to e-hailing private vehicle (AH), says Transport Minister Anthony Loke Siew Fook.
— The Star Online

Axiata, Digi share prices soar on merger talks
Axiata Group Bhd’s share price was up 13.61% this morning following news that it is in discussions with Norwegian telco Telenor ASA for a potential merger, which would combine both parties’ Asian operations and portfolio of telecommunications, digital and infrastructure assets.
— The Sun Daily

Hartalega posts RM91.4mil profit in Q4
Hartalega Holdings Berhad (Hartalega), the world’s largest nitrile glove manufacturer, posted a lower net profit in the last quarter ended March 31, as the stronger ringgit and higher cost reduced its margin.
— The Star Online

Axiata and Digi on a roll
Shares of Axiata Group Bhd and Digi.com Bhd rallied as much as 18.3% and 11.5% on positive sentiment towards their merger deal.Axiata’s share price surged as much as 74 sen to a seven-month high of RM4.78 before closing 60 sen or 14.9% higher at RM4.64 on 38.17 million shares.
— The Sun Daily

Sarawak defends itself after flak from tourists over wildlife shelter
Rescued animals are on temporary stay at the centre and are released into the wild once they are successfully rehabilitated, says minister in answer to complaints that the centre lacks facilities.
— FMT News

Malaysia April palm stocks expected at six-month low
Malaysia’s palm oil stocks likely fell to a six-month low by end-April, according to a Reuters survey, recording a second straight month of declines as a slight gain in exports outpaced a dip in production.
— The Star Online

Fisheries Dept never issues deep-sea fishing licence to foreigners (Updated)
The Department of Fisheries (DOF) has never issued or leased any deep-sea fishing licence to foreigners, said its director-general, Datuk Munir Mohd Nawi.
— The Sun Daily

NUF material can save millions of ringgit: Lynas
The Malaysian government would be able to save millions by using the Neutralisation Underflow Residue (NUF) being produced locally by Lynas Malaysia to replace the gypsum material which the country has been importing for the construction industry.
— The Sun Daily

Strong appetite for Leong Hup IPO as offer of 73m shares to public oversubscribed 3.64 times
Poultry giant Leong Hup International Bhd’s initial public offer (IPO) of 73 million shares to the Malaysian public was oversubscribed by 3.64 times.
— The Star Online

DPM says will need clarity on Western Australia’s refusal to accept Lynas waste
The government requires more information on Western Australia’s reported refusal to accept radioactive waste from Lynas’ rare earth processing plant in Gebeng, Kuantan, says Deputy Prime Minister Datuk Seri Dr Wan.
— Malay Mail

MCMC: Ensure mobile apps are always updated
The Malaysian Communications and Multimedia Commission (MCMC) advises mobile phone users to ensure that all applications installed on their devices are the latest versions.
— The Star Online

Health Minister calls for discussions on proposal for dispensing separation
Health Minister Datuk Seri Dr Dzulkefly Ahmad today called for thorough discussions and studies on the proposal for the separation of prescribing and dispensing in the country.
— The Sun Daily

Maxis partners Malaysia Airlines in offering new mobile programmes
Maxis Bhd is partnering Malaysian Airlines to offer Maxis and Hotlink customers more travel value through three-year-long programmes — Malaysia Airlines Ultimate Travelicious Deals, MHexplorer Student Travel Programme.
— New Sarawak Tribune

Najib loses appeal to disqualify Sri Ram
Former prime minister Datuk Seri Najib Abdul Razak failed in his appeal to disqualify former Federal Court judge Datuk Seri Gopal Sri Ram as the lead prosecutor in his 1Malaysia Development Bhd (1MDB) cases.
— The Sun Daily

What patronage system? Education Ministry says gave grants to returned ex-Nasa scientist
Local public universities have never sidelined junior academics nor is there an entrenched patronage system as alleged by a returned scientist formerly with the US National Aeronautics and Space Administration (Nasa).
— Malay Mail

PAS MP urges Kelantan to reverse night operations ban on restaurants during Ramadan
The Kelantan government’s directive for food businesses in the state to close nightly from 8.30pm to 10pm during Ramadan will deny them honest income, said Nik Mohamad Abduh Nik Abdul Aziz.
— Malay Mail

i-Suri to be expanded to include Orang Asli community: Dr Wan Azizah
Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said the target group eligible for i-Suri will be expanded to include the Orang Asli community and the indigenous people of Sabah and Sarawak.
— The Sun Daily

 

Feature photo Yn. Abdul Aziz

This week’s Malaysia morning news feature photo acknowledges the commencement of Ramadan, May 6.

 

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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