Malaysia Morning News For October 24

Malaysia Morning News For October 24

Malaysia morning newsMalaysia aims to export rail technology after 2027: PM Najib
Malaysia aims to export its rail technology post-2027 when the country’s total rail mileage is expected to reach 3,000km, said Prime Minister Najib Razak at the annual land public transport symposium on Monday (Oct 23).
— Channel News Asia

Malaysia asks Interpol to trace financier linked to 1MDB scandal
Malaysia has asked Interpol to try to locate a Malaysian financier for questioning over his suspected involvement in a multi-billion dollar scandal at state fund 1Malaysia Development Berhad (1MDB), the deputy prime minister said on Monday (Oct 23).
— Channel News Asia

Malaysia urges France to reject EU resolution that discriminates palm oil
Malaysia urges France to reject the discriminatory EU Resolution: Palm Oil and Deforestation of Rainforest and accept the government-driven Malaysian Sustainable Palm Oil (MSPO) Certification Scheme.
— New Straits Times

Malaysia gets C rating in Global Pension Index
Malaysia scores a C rating in the ninth edition of the Melbourne Mercer Global Pension Index, ahead of most Asian countries, with its index value up from 55.7 in 2016 to 57.7 in 2017.
— The Star Online

Malaysia now aims to achieve 45% skilled workforce by 2030
In a report by Bernama, Yayasan Melaka International College chief executive Datuk Saroni Judi has said that “at least 45% of the total workforce need to be skilled workers by 2030” to realise Malaysia’s goal as a developed high income nation. Previously, Malaysia aimed to hit the target of 35% skilled workforce by 2020.
— Human Resources Online

Mustapa: No investment deals struck during PM’s visit to US
No investment deal was finalised during the visit by the Malaysian government delegation led by Prime Minister Najib Razak to the US last month, International Trade and Industry Minister Mustapa Mohamed said.
— Free Malaysia Today

Malaysia ranks 53rd among most literate nations
Sabah Tourism, Culture and Environment Minister Datuk Seri Masidi Manjun said Malaysia ranked 53rd in the list of the most World’s Most Literate Nations (WMLN).
— New Straits Times

Malaysia’s debt problem
MALAYSIA has a problem with debt. Government debt is about 53% of gross domestic product, just below the already increased 55% debt-to-GDP ratio threshold.
— The Malaysian Insight

Malaysia’s first Seibu shop planned at finance hub
A four-story department store bearing the name of Seibu, a well-known chain in Japan, will open in the Malaysian capital city of Kuala Lumpur around 2019, eyeing high-income clientele.
—Nikkie Asian Review

Malaysian palm oil price soars, tracking gains in soy oil markets
Malaysian palm oil futures climbed 1.7 percent on Monday, tracking gains in soybean oil and other edible oil contracts on the Dalian Commodity Exchange.
— The Star Online

Malaysia not in hurry on Myanmar investment decisions — Reezal Merican
The Malaysian government will not hastily decide on the country’s investments in Myanmar despite the Rohingya refugee crisis, as a unilateral action to cut diplomatic ties with Myanmar will limit Malaysia’s ability to help the Rohingya community there.
— The Edge Markets

Upcoming PIPOC 2017 to attract over 8,000 participants
The Malaysia Palm Oil Board (MPOB) International Palm Oil Congress and Exhibition (PIPOC) 2017, which will be held here on November 14to 16, 2017, is expected to attract over 8,000 participants and trade visitors from more than 50 countries.
— The Borneo Post

Policies on SME devt may be reviewed, says SME Corp
Policies related to the development of small and medium enterprises (SMEs) may be reviewed to strengthen the sector’s contribution to the economy.
— The Borneo Post

Taiwan welcomes Malaysians to invest in halal businesses
Malaysian entrepreneurs have been encouraged to venture into halal food and beverage or halal-related businesses in Taiwan.
— The Sun Daily

Foreign investors continue sale of equities for fifth week
For the fifth week running, foreign funds disposed equities listed on Bursa Malaysia which represents the longest selling binge so far this year during the holiday-shortened week.
— The Borneo Post

Renewed Consolidation Called For Malaysia Shares
The Malaysia stock market picked up less than a point on Monday – but that was enough to snap the four-day slide in which it had fallen almost 15 points or 0.9 percent to a fresh six-month closing low. The Kuala Lumpur Composite Index remains just above the 1,740-point plateau although it figures to head south again on Tuesday.
— Markets Insider

AIBIM wants govt to channel incentives for SMEs via Islamic Banks
The Association of Islamic Banking Institutions Malaysia (AIBIM) hopes the government will use Islamic banks as the platform for its incentives allocation especially those aimed at boosting the Small and Medium Enterprises (SME).
— The Borneo Post

Budget measures needed to address home affordability
PropertyGuru Malaysia, a leading property portal, has recommended several measures to address concerns towards promoting home affordability and ownership for Budget 2018.
— The Borneo Post

KK wifi area will boost tourism, business
SABAH’s capital city is now home to the country’s first “Seamless Smart WiFi-enabled City” feature.
— New Straits Times

Denko proposes to acquire chairman-owned firm for RM1.19bil
Denko Industrial Corp Bhd executive chairman and controlling shareholder Datuk Seri Foo Chee Juan plans to inject his privately-owned plastic injection moulding firm into Denko for an indicative price of RM1.19bil.
— The Star Online

Top Glove said to buy Adventa’s surgical glove operations
Top Glove Corp Bhd is said to be acquiring the privately held surgical glove operations of Adventa Bhd, according to two industry sources.
— The Edge Markets

Hidden in tech supply chain, Malaysian stock surges 400%
For technology stock investors, it sometimes pays to buy the companies that make the parts. Take Techfast Holdings Bhd, a small Malaysian supplier of everything from screws and self-clinching fasteners to materials for light-emitting diodes. The little-known firm has surged more than fivefold this year alone, making it one of the best performers in the country’s equity market, as investors took notice of an overseas expansion and a profitable alliance.
— Free Malaysia Today

Malaysia must defend fugitive preacher against extradition request: PAS
Malaysian Islamist opposition party Parti Islam Se-Malaysia (PAS) wants the Malaysian government to refuse India’s request demanding the return of its citizen and controversial Muslim preacher Dr Zakir Naik, who is being investigated by New Delhi for alleged terror activities.
— Today Online

Time for better sex education in Malaysia – ministry
Sex education in Malaysia should be improved and incorporated into subjects like Moral Studies and Islamic Studies in schools, according to a new recommendation for the review of the national education system by the Women, Family and Community Development Ministry.
— SI News

Feature photo World Bank Photo Collection/Nafise Motlaq
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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