Malaysia Morning News For March 24

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.

China a friend in need to Malaysia
Malaysian Prime Minister Najib Razak and Alibaba Group executive chairman Jack Ma announced yesterday the establishment of an e-commerce regional distribution center, or e-hub, in Malaysia, Alibaba’s first such facility outside of China.
— Asia Times

BNM Report: Critical reforms, structural adjustments a priority
Bank Negara Malaysia (BNM) says critical reforms and structural adjustments remained a priority to ensure the future growth of the Malaysian economy is sustained.
— New Straits Times

Debt servicing capacity of M’sian corporations expected to remain intact
The debt servicing capacity of Malaysian corporations is expected to remain broadly intact in 2017, said Bank Negara Malaysia (BNM).
— New Straits Times

Singapore edges higher on Wall Street cues, Malaysia slips
Shares in Singapore rose on Thursday after Wall Street showed signs of steadying even though uncertainty about President Donald Trump’s economic agenda persisted. Malaysian equities ended slightly lower.
— Nikkei Asian Review

Malaysia gets Alibaba on board to promote e-commerce
Malaysia has enlisted Alibaba Group Holding in its effort to double e-commerce growth by 2020 to ensure it makes a fuller contribution to economic development.
— Nikkei Asian Review

Malaysiaian economic growth to be better this year than last
The Malaysian economy is expected to see some recovery, with growth set to pick up this year. According to Bank Negara estimates, the economy this year should grow at a range of between 4.3% and 4.8%. Last year, the economy grew 4.2%.
— The Star Online

RM8.85bil in foreign currency proceeds repatriated to Malaysia
Companies have repatriated US$2bil (RM8.85bil) in foreign currency export proceeds in three months since December last year, Bank Negara said.
— The Star Online

Malaysia to roll out insurance starter pack for low-income earners
Malaysia’s insurance and takaful industry is expected to roll out the development of an insurance starter pack, nationally, for low-income earners, and further develop alternative distribution channels to increase the insurance penetration rate in the country.
— Malay Mail Online

3,110 websites blocked by MCMC over 2016
From 2016 until January this year, the Malaysian Communications and Multimedia Commission (MCMC) has blocked 3,110 websites for various offences, including publishing content which could jeopardise public order.
— Malay Mail Online

Disney chooses its battles in Malaysia and China
Walt Disney’s “Beauty and the Beast” missed its original opening date in Malaysia due to the company’s refusal to accept cuts by state censors involving a gay character.
— Nikkei Asian Review

Philippines: 2 Malaysians rescued from Abu Sayyaf militants
Two Malaysian sailors held captive for eight months by Muslim militants were rescued Thursday in the southern Philippines, military officials said.
— ABC News

Challenging global environment necessitates emphasis on economic resilience, says BNM
The challenging global environment necessitates continued emphasis on enhancing the nation’s economic resilience and broadening the sources of growth, said Bank Negara Malaysia (BNM).
— New Straits Times

Axiata: No merger with TM
Axiata Group Bhd has denied reports of an impending merger with Telekom Malaysia Bhd. In a filing with Bursa Malaysia today, the company said that an online daily’s article reporting of a likely merger between the two companies was merely speculative.
— New Straits Times

MAS mulls deals for 42 jets as ‘things are going better a bit quicker’
Malaysia Airlines Bhd (MAS) plans to seal deals for as many as 42 wide-body jets over the next few months as the unprofitable carrier seeks to rebuild its long-haul network following a surge in demand.
— The Star Online

Alliance of top LNG buyers to put pressure on Malaysia, others
The world’s biggest liquefied natural gas (LNG) buyers, all in Asia, are clubbing together to secure more flexible supply contracts in a move which shifts power to importers from producers as oversupply grows.
— The Star Online

Putrajaya to introduce Employment Insurance Scheme
The federal government has agreed to implement the proposed Employment Insurance Scheme (EIS) which will affect an estimated 6.5 million workers in the private sector, Prime Minister Datuk Seri Najib Razak announced today.
— Malay Mail Online

Health Ministry says requesting additional RM345m to upgrade hospitals
The Health Ministry needs an additional budget of RM345.27 million to upgrade government hospitals and change electrical wirings.
— Malay Mail Online

Malaysia screen legend gets Google tribute
Google has paid tribute to late Malaysian film legend P. Ramlee in its latest animated doodle, on what would have been his 88th birthday.
— BBC

Feature photo: John Walker

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