Malaysia Morning News For November 28

Malaysia Morning News For November 28
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Malaysia morning newsAlmost 800,000 Malaysians on travel blacklist, more than half are PTPTN defaulters
As many as 790,186 Malaysians have been blacklisted and prevented from leaving the country because of various offences, according to the Immigration Department.
— The Star Online

Malaysia’s central bank says it has no plans to appoint cryptocurrency exchange
Malaysia’s central bank, Bank Negara Malaysia (BNM), has denied report that it is planning to set up or appoint an official cryptocurrency exchange, as per a New Straits Times report.

What’s Malaysia’s Role in the New Islamic Anti-Terror Coalition?
On November 26, the defense ministers of a Saudi Arabia-led, pan-Islamic anti-terrorism coalition met in Riyadh for their first coalition meeting to both officially launch the coalition as well as discuss potential initiatives and partnerships. Malaysia was among those present in yet another illustration of the Southeast Asian state’s cultivation of closer ties with Riyadh as well as its broader counterterrorism efforts with external partners.
— The Diplomat

Ukraine seeks to supply eggs, poultry to Malaysia
Ukrainian dairy and poultry companies are seeking to supply Malaysia with their products, the country’s state service for food safety said on Monday.
— Reuters

Digital economy in the spotlight as Malaysia commits to tech expansion and education
Malaysia has taken another step towards expanding its digital economy, with the newly tabled 2018 budget containing a series of initiatives designed to promote growth in tech companies and ICT skills development.
— Oxford Business Group

‘Incorporate industry 4.0 elements in education’
The International Trade and Industry Ministry (MITI) has urged educational institutions to consider incorporating elements of Industry 4.0 into their current syllabus.
— The Borneo Post

Nestlé launches global procurement hub in Malaysia
Nestlé recently launched its global procurement hub in Kuala Lumpur last Thursday (23 Nov). The launch was officiated by YB Dato’ Seri Ong Ka Chuan, second minister of International Trade and Industry, and Dr Magdi Batato, executive vice president and head of operations, Nestlé S.A.
— Human Resources Online

Crayon Malaysia eyes opportunity in digital transformation landscape
Nowadays businesses no longer see information technology as merely a cost component. As return on investments (RoI) on IT improves — such as how remote working, cloud computing or Internet of Things improve productivity — IT spending too, has expanded from under 5% of total cost base to a double-digit rate.
— The Edge Markets

Top Glove wants to buy Aspion for RM1.3bil to boost profits
Top Glove Corp Bhd says the plan to buy surgical glove maker Aspion Sdn Bhd for at least RM1.3bil will boost the group’s profits by a fifth in the financial year ending Aug 31, 2018 (FY18) and accelerate the group’s expansion into the highly lucrative segment of the market.
— The Star Online

MiE Holdings plans IPO in 2018 to fund new factories
Mi Equipment Holdings Bhd (MiE Holdings), a manufacturer of wafer level chip scale packaging sorting machines for the semiconductor industry, is seeking to raise money via a listing on the Main Market of Bursa Malaysia next year to build two new factories in Bayan Lepas and Batu Kawan, Penang.
— The Edge Markets

Malaysia’s property prices may decline on supply overhang, says Moody’s
Moody’s Investor Service said Monday it expects a material decline in Malaysian property prices as market valuation adjusts to reflect the lack of demand in the event of a protracted period of supply overhang.
— Xinhua Net

Housing developers upbeat about market in 2018
Housing developers remain optimistic about the market in 2018 despite the challenges being faced this year.
— The Star Online

Rebound in crude oil prices a boon to economy as GDP stays consistent
In tandem with the modest recovery in crude oil prices, Malaysia’s Gross Domestic Product (GDP) growth expanded on an incline starting in the third quarter of financial year 2016 (3QFY16) with growth breaching the five per cent mark for three consecutive quarters in 2017.
— The Borneo Post

Malaysian palm oil price drops to 4-month low on weaker related edible oils
Malaysian palm oil futures fell to a four-month low on Monday, tracking softer edible oils on the Chicago Board of Trade and China’s Dalian Commodity Exchange.
— The Star Online

Malaysian farmers suffer losses of $6M due to floods
Malaysian farmers in Penang and Kedah suffered losses amounting to RM27.7 million (US$6 million) due to the recent floods according to current estimates, said Deputy Agriculture and Agro-based Industry Minister Datuk Seri Tajuddin Abdul Rahman.
— Fresh Plaza

Malaysia acts to prevent burst of property bubble?
In an analysis today, Simon Chen VP of Moody’s Senior Analyst, Financial Institutions Group, Moody’s Investors Service Singapore wrote that Malaysia has halted new property development amid rising oversupply.
— The Independent

AG’s Report suggests SRB impose tolls on vessels passing through barrage
The Auditor-General’s Report 2016 Series 2 which was released yesterday has advised the Sarawak Rivers Board (SRB), which manages the Sarawak River Barrage, to start imposing tolls for vessels passing through its ship locks.
— The Borneo Post

Malaysia seizes pangolins scales moving through mail centre
Pangolin scales in the mail? That’s exactly what Malaysian Customs found when they scanned 13 boxes from Sabah and Sarawak at the Kuala Lumpur International Airport’s Mail and Courier Centre 10 days ago.
— Traffic


Feature photo ILO in Asia and the Pacific

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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