Malaysia Morning News For May 30

Genting Malaysia’s Q1 FY17 core earnings below forecast
Genting Malaysia’s 1Q17 core earnings were below CIMB Equities Research and market’s expectations.
— The Star Online

ML Global To Invest RM40 Million In Pre-Cast Panels Plant
ML Global Bhd, which expects to double its order book to RM2.04 billion, is planning to set up a plant to manufacture precast panels to reduce reliance on skilled labour.
— Malaysian Digest

Singapore’s central bank ends 1MDB review, penalizes Credit Suisse, UOB
Singapore’s central bank said on Tuesday that it has imposed financial penalties on Credit Suisse CCGN.S and United Overseas Bank (UOB) (UOBH.SI) after completing its two-year review of banks involved in 1MDB-related transactions.
— Reuters

Report: Government agencies confused about OSA, fear data manipulation
Malaysian government agencies lack clarity about legislation governing the release of information, expressing particular confusion about the Official Secrets Act (OSA) 1972 and the Personal Data Protection Act (PDPA) 2010, a World Bank Group report said.
– Malay Mail Online

China’s investments in Malaysia – too much, too fast, too soon
We are supportive of the current open trade regime that has been Malaysia’s proud tradition since the early trading days at the Straits of Malacca.
— Malaysiakini

Sunway posts RM108m profit
Construction-and-property firm Sunway Bhd posted a 5.69% rise in net profit to RM107.91mil for the first quarter ended March 31 compared to the same quarter a year ago on contribution from all business segments except the property development arm.
– The Star Online

Home Ministry issues ‘The Star’ show cause letter over controversial front page
The Home Ministry has given national daily The Star seven days to respond to a show cause letter served on the publication over an inappropriate front page. –
– Malay Mail Online

Genting Malaysia’s net profit more than doubles
Genting Malaysia Bhd, which share price has climbed nearly 43% year to date, announced that its net profit for the first quarter ended March 31, 2017 (1QFY17) more than doubled to RM323.5 million from RM161.6 million in the previous corresponding quarter.
— The Edge Markets

Malaysian pineapple exports to China expected to double by 2020
Malaysia’s exports of pineapples to China are expected to double to RM320 million, annually, by 2020.
— Fresh Plaza

SPAD wants Uber to explain how ‘airtight’ hiring failed
The Land Public Transport Commission (SPAD) is demanding a detailed explanation from Uber on its hiring practices after a passenger was robbed and suffered a miscarriage.
– Malay Mail Online

More to affordable homes than pricing
It is one thing to provide citizens with so-called affordable housing, but is Malaysia doing it right?
— Free Malaysia Today

Voir To Remain A Public-Listed Company, Says Chairman
Voir Holdings Bhd, which saw a net loss of RM385,000 in the first quarter ended March 31, 2017, is looking at scaling down its apparel business and the possibility of venturing into construction and logistics.
— Malaysian Digest

TB-infected convicts on the rise
The increasing number of convicts coming to prison with Tuberculosis (TB) is alarming.
– Malay Mail Online

New Silk Road: Is there a China plan for M’sia?
Given the detailed and comprehensive planning that went into CPEC, it is more than likely, given the country’s strategic location and its critical importance to the success of the One Belt One Road (OBOR) initiative in Southeast Asia, that a similar master plan for Malaysia has been crafted.
— Malaysiakini

Don’t expect car prices to fall after Proton-Geely deal
With China’s Geely now firmly in the Proton driver’s seat, can the Malaysian public expect car prices to fall as the country rolls back punitive duties it introduced to protect the first national car project? And who is the deal good for ultimately?
— Malaysiakini

Feature photo Trinn Suwannapha / World Bank
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Malaysia morning news is published M-F by AEC News Today: Governance, not government; policies not politics.

Malaysia Morning News For May 30 added by Leakhena Khat on May 30, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.