Malaysia Morning News For September 27

Malaysia arrests 16 for suspected ISIL links, plotting attacks
A dozen Indonesians, three Malaysians and an Indian woman also accused of trying to recruit members and collect funds.
— Aljazeera

PLN signs MoU on exporting 600 MW of electricity to Malaysia
Indonesian state-owned electricity company PLN on Wednesday signed a memorandum of understanding (MoU) with its Malaysian counterpart, Tenaga Nasional Berhad (TNB), to begin a feasibility study on exporting 600 MW of power to TNB.
— The Jakarta Post

Malaysia Tax Agency Issues Public Ruling Clarifying Tax Treatment of Trade Debts
The Malaysian Inland Revenue Board Sept. 24 issued a public ruling to clarify the tax treatment of trade debts.
— Bloomberg Tax

Six Malaysians, 71 Myanmar nationals arrested; human smuggling syndicate busted
Six Malaysians and 71 Myanmar nationals, who are part of a human smuggling syndicate, were detained following multiple raids in Klang Valley, Kelantan and Penang, says Bukit Aman.
— The Star Online

Joint high-level committee to enhance Australia-Malaysia strategic partnership
Defence Minister Linda Reynolds has hosted her Malaysian counterpart, Defence Minister Mohamad bin Sabu, in Canberra for the second Malaysia-Australia High Level Committee.
— Defence Connect

RM30m north seafront project to be completed by 2022, says Penang exco
The whole RM30 million north seafront project that encompasses the sea wall, Fort Cornwallis, Light Street and the Queen Victoria Memorial Clock Tower is expected to be completed in 2022.
— Malay Mail

Dr M: Malaysia trying to strike balance between SDGs and the needs of the people
Malaysia is seeking to strike a balance between achieving sustainable development goals (SDGs) and addressing the needs of its people, says Tun Dr Mahathir Mohamad.
— The Star Online

Malaysia to host High Dialogue on ASEAN–Italy Economic Relations 2020
Malaysia has been chosen to be the host country for the High Dialogue on ASEAN — Italy Economic Relations 2020, June next year, according to the Malaysian Investment Development Authority (MIDA).
— The Edge Markets

Top Glove’s Q4 earnings down 13.3%, pays 4 sen final dividend
Top Glove Corp Bhd reported a 13.3% decline in net profit to RM80.05 million for the fourth quarter ended August 31, 2019 against RM92.33 million in the previous corresponding quarter, dragged down by increased competition in the natural rubber glove segment and a spike in natural rubber latex prices.
— The Sun Daily

How Malaysia’s 1MDB Scandal Shook the Financial World
Malaysia’s state-owned investment fund, 1MDB, was supposed to promote development.
— Washingtonpost

Dr M: Sustainable growth a lofty goal but Malaysia still going for it
Malaysia is undertaking various steps to ensure sustainable development, said Tun Dr Mahathir Mohamad. The prime minister conceded, however, that it was not easy to balance economic growth with sustainability.
— Malay Mail

Federal Govt urged to help fund Sabah’s Shared Prosperity 2030 vision
The Federal Government has been urged to let Sabah have the funds promised over the years so it can achieve its Shared Prosperity 2030 vision due to kick off in 2021.
— The Star Online

12,018 special needs students enrolled in schools under zero reject policy
A total of 12,018 special needs students have enrolled into the public schools since the Education Ministry launched the Zero Reject Policy in January, said Education director-general Datuk Dr Amin Senin.
— The Borneo Post

Joint Malaysia-Pakistan committee set up to identify trade, investment opportunities
Malaysia and Pakistan will set up a joint committee in an effort to pinpoint trade and investment opportunities between the two countries.
— The Sun Daily

Concerns over Islamic housing project in Selangor, but developer says it is no place for extremists
The highway leading to Cyberjaya township, which neighours the administrative capital of Putrajaya, is lined with eye-catching banners promoting RaudhahVille, a development that calls itself “the first modern Islamic city in Malaysia”.
— CNA

Rehda: RM14.65b sales recorded from HOC
The Real Estate and Housing Developers Association Malaysia (Rehda) said a total of RM14.65 billion sales has been reported from the 19,784 units sold under the Home Ownership Campaign (HOC) as of September 13, 2019.
— The Sun Daily

1MDB gets BNM nod to lend additional RM1.38b loan to PetroSaudi BVI, court told
The High Court here today was told that the Bank Negara Malaysia (BNM) has granted the 1Malaysia Development Berhad (1MDB) permission to lend an additional US$330 million (RM1.38 billion) loan to PetroSaudi BVI in May 2011.
— The Sun Daily

Civic-mindedness needed if smoking ban is to succeed
Sarawakians and Malaysians at large must alter their mindset lest the smoking ban wind up as an unsuccessful effort.
— The Borneo Post

Najib accepted expensive watch from PetroSaudi co-founder
Former prime minister Datuk Seri Najib Razak was gifted with an expensive watch by co-founder of PetroSaudi International (PSI) Tarek Obaid during a meeting between PSI and 1Malaysia Development Berhad (1MDB) at a posh hotel in London, the High Court heard on Thursday (Sept 26).
— The Star Online

Awang Tengah: Sarawak government places great emphasis on TVET
Vocational colleges and technical training institutions play an important role in providing skilled talents for the labour market, says Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan.
— The Borneo Post

Imran Khan says Malaysia, Turkey, Pakistan launching TV channel to fight ‘Islamaphobia’
Malaysia, Pakistan and Turkey are cooperating for a television channel to address wrong views of Islam, as part of a larger campaign against Islamaphobia, Imran Khan disclosed today.
— Malay Mail

Penang mayor defends assessment hike, says own house affected
MBPP mayor says assessment rates for 2020 have actually gone down but because the annual values of properties have gone up, many owners will have to pay more.
— FMT News

Bumi Armada receives RM317m financing from major shareholder
Bumi Armada Bhd has received financing commitments of up to US$75 million (RM317 million) from its major shareholder Usaha Tegas Sdn Bhd’s wholly owned subsidiary Mezzanine Equities N.V. (MENV).
— The Sun Daily

Malaysia PM Mahathir defends remarks deemed anti-Semitic, citing right to free speech
Malaysian Prime Minister Mahathir Mohamad on Wednesday (Sep 25) defended remarks he made previously that were deemed anti-Semitic, saying he has the right to exercise free speech.
— CNA

Penang City Council to roll out e-scooters for public use in pilot project
The Penang Island City Council (MBPP) will be introducing e-scooters as an alternative mode of green transport in a pilot project that starts October 1.
— Malay Mail

Dialog launches Phase 3A of Pengerang Deepwater Terminals
Dialog Group Bhd has launched Phase 3A of its 1,200-acre Pengerang Deepwater Terminals (PDT) development.
— The Sun Daily

Lynas Malaysia sticks to rules to keep environment safe, according to report
As part of its 2025 growth plan, the Lynas Advanced Materials Plant in Pahang is to relocate the first stage of its operations – cracking and leaching – to Western Australia as announced on May 21 this year.
— The Sun Daily

Amid public backlash, Rehda says number of foreign-owned properties ‘small’
Developers defended today the government’s plan to sell homes to foreigners, insisting that this was a specific market only for high-end properties that most locals cannot afford.
— Malay Mail

Ericsson makes $1.2 bln provision to settle U.S. probes, flags Q3 hit
Mobile telecom gear maker Ericsson said on Thursday its third-quarter results will be hit by a 12 billion Swedish krona ($1.23 billion) provision it was making for U.S. investigations.
— The Sun Daily

Under anti-monopoly probe, Grab says fully cooperating with MyCC
Singapore-based ride-hailing firm Grab Holdings said it was working closely with the Malaysian Competition Commission that is investigating it for possible monopolistic practices.
— Malay Mail

Affirmative action policy in Malaysia has helped many Malays succeed, prevented racial tensions: Mahathir
Malaysia’s affirmative action policy that favours ethnic Malays has helped many in the community succeed and prevented disparity from growing and leading to racial tensions, Prime Minister Mahathir Mohamad said on Wednesday (Sep 25).
— CNA

In US, Dr M says multilateralism won’t work if superpowers are bullies
Powerful countries that engage in actions to further their own interests are the biggest threat to global multilateralism, Tun Dr Mahathir Mohamad said during the World Leaders Forum at Columbia University here.
— Malay Mail

NDCI framework to promote ethical behaviour in digital technology
The Communications and Multimedia Ministry together with CyberSecurity Malaysia are working to develop the National Digital Citizenship Initiative (NDCI) framework to promote ethical behaviour, good values and accountability in the use of digital technology.
— The Borneo Post

Malaysia to require banks to report exposure to climate risks
Malaysia’s central bank governor said financial institutions will be required to report their exposure to climate risks and the information it gathers could be used to set regulatory standards in South-east Asia’s third.
— Malay Mail

PPD1 number plate fetches RM120,000
The vehicle registration number PPD1 fetched the highest bid at RM120,000, during a five-day online bidding process from Sept 19 to 23, undertaken by the state Road Transport Department (RTD) through its JPJeBid system.
— The Sun Daily

Yinson’s second-quarter earnings down 44%
Yinson Holdings’ net profit fell 44.2% to RM41.14 million for the second quarter ended July 31, 2019 from RM73.67 million recorded in the same quarter of the previous year, due to net unfavorable foreign exchange movement of RM5.6 million, impairment loss on property, plant and equipment of RM4.86 million and higher finance costs of RM4.96.
— The Sun Daily

Visdynamics’ Q3 net profit slumps 62%
Visdynamics Holdings Bhd saw its net profit slump 62.2% in the third quarter ended July 31, 2019 to RM999,000 from RM2.64 million in the corresponding period of the previous year.
— The Sun Daily

Malaysia pulls out of Hong Kong football friendly over protest worries
Malaysia has pulled out of a football friendly in Hong Kong for safety reasons due to the current state of civil unrest in the city, the Football Association of Malaysia (FAM) said on Thursday (Sep 26).
— CNA

Liu Thian Leong reinstated as PSB Batu Kawah chairman, central publicity secretary
Former United People’s Party (UPP) member Liu Thian Leong, who stood as an independent in the last state election in Batu Kawah, is returning to active politics.
— The Borneo Post

Cops warn against public statements over Batu Arang shooting, will push for inquest
Federal police today warned people against issuing statements concerning the shooting of three robbery suspects in Batu Arang recently, saying investigations into the case are still ongoing.
— Malay Mail

Report: Malaysian envoy expressed concerns about China’s treatment of Uighurs in leaked report
An unnamed diplomat reported his misgivings about China’s “re-education” centres for its Uighur Muslim minority to Putrajaya but the findings were allegedly buried to preserve ties with the superpower, the New York.
— Malay Mail

Lee to be briefed on hydrogen bus supply issue today
Transport Minister Datuk Lee Kim Shin will be properly briefed on the halt of hydrogen supply for the state’s first three hydrogen buses today.
— The Borneo Post

Softbank likely to funnel $1 bln more into WeWork after delayed IPO – FT
SoftBank Group Corp is planning to pump an extra $1 billion or more into WeWork by renegotiating a warrant agreement struck before falling valuations delayed the U.S. office-sharing startup’s IPO, the Financial Times reported.
— The Sun Daily

Orang asli deaths due to measles, says Health Ministry
The Health Ministry has confirmed that the deaths of 16 orang asli from June to Sept were due to measles.A total of 213 cases of measles were reported as of Sept 10.
— The Sun Daily

Trip.com takes part in CSR project at Kiulu school
Trip.com, an international online travel brand, sent 15 employees from its Singapore and Malaysia offices to participate in a Corporate Social Responsibility project in Sekolah Kebangsaan Pukak, Kiulu, on September 20.
— The Borneo Post

Bursa Malaysia opens slightly higher on institutional support
Bursa Malaysia opened slightly higher backed by institutional support in selected heavyweights.
— The Sun Daily

Write-down, M&A costs tip Daibochi into net loss
Daibochi Bhd saw a net loss of RM305,000 for the three-month period ended July 31, 2019 due to writedown in line with ongoing operations streamlining and merger & acquisition (M&A) costs for the purchase of Mega Printing & Packaging.
— The Sun Daily

Legion Master to take Degem private at RM1.10 a share
Degem Bhd’s major shareholder Legion Master Sdn Bhd (LMSB) has initiated a selective capital reduction (SCR) and repayment exercise with an offer price of RM1.10 in a bid to take the company private.
— The Sun Daily

Feature photo iMoeny.my

This week’s Malaysia morning news feature photo focuses on World Tourism Day, September 27.

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).

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