Malaysia morning news for August 24

Malaysia morning news for August 24
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Malaysia morning newsSingapore, Malaysia look forward to bringing RTS link project to fruition: MOT
Transport Minister Khaw Boon Wan and his Malaysian counterpart Anthony Loke met in Kuala Lumpur on Thursday (Aug 23) where they discussed “a broad range of transport issues”, said Singapore’s Ministry of Transport (MOT).
— Channel NewsAsia

Manufacturers expect little impact from govt review of mega projects
The government’s review of mega projects – including infrastructure deals related to China’s Belt & Road Initiative, Kuala Lumpur-Singapore High-Speed Rail and Mass Rapid Transit 3 (MRT3) – has no impact on most manufacturers, according to the Federation of Malaysian Manufacturers-Malaysian Institute of Economic Research (FMM-MIER) Business Conditions Survey released today.
— The Sun Daily

Singapore steps up checks at border after radioactive device goes missing in Malaysia: ICA
Authorities have stepped up checks at Singapore’s checkpoints after an industrial device containing radioactive material went missing in Malaysia recently.
— Channel NewsAsia

Public Bank soars as KLCI closes at three month high
Late fund buying of Public Bank – sending it to a record close — underpinned the FBM KLCI’s advance on Thursday as it closed at a three month high of 1,810.
— The Star Online

Sime Darby Plantation unit completes purchase of Papua New Guinea coconut oil exporter
Sime Darby Plantation Bhd’s (SDP) wholly owned subsidiary New Britain Palm Oil Ltd (NBPOL) has completed the US$52.6 million (RM215.6 million) acquisition of Markham Farming Co Ltd (MFCL) from Markham Agro Pte Ltd (MAPL).
— The Sun Daily

Not too much sugar tax — yes, that’s just right
The recently proposed soda tax or sugar tax suggested by the Pakatan Harapan government has sparked debate on whether the tax will be effective in gaining tax revenue to help meet the shortfall from the change of GST to SST, and whether the tax will be able to curb sugary drink consumption in Malaysia.
— The Borneo Post

Mahathir believes Jho Low probably hiding in China
Tun Dr Mahathir Mohamad believes that fugitive businessman Low Taek Jho is in China although he neither has proof nor brought this up during his talks with the country’s leaders.
— Asia One

Manufacturing sector positive on second half but caution remains
The outlook for Malaysia’s manufacturing sector, which slowed down in the first half of 2018 (1H18) as production volume and capacity utilisation moderated in line with lower sales, is positive in 2H18 but amid caution, with the balance of risks in the global economy tilting towards the downside.
— The Sun Daily

SWIFT tests instant cross-border gpi payments in Asia Pacific
SWIFT today announces that it will start testing its new instant cross-border SWIFT gpi payments service in the Asia Pacific region.
— AEC News Today/ PRNewswire (media release)

Bulk water supply rate cut seen having little impact on Gamuda
PublicInvest Research views the cut in the bulk water supply rate in Pengurusan Air Selangor Sdn Bhd’s offer as a positive development as it confirms continuation for Gamuda Bhd in providing operation and maintenance services to the Sungai Selangor Water Treatment Plant Phase 3 (SSP3) and the recovery of RM400 million receivables owed by Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (Splash).
— The Sun Daily

BOH Launches NegaraUmmph TV for National Day
In conjunction with Malaysia’s 61st National Day, BOH Plantations Sdn Bhd (BOH) has launched their online TV channel called NegaraUmmph TV, a nationwide movement that aims to bring together Malaysians from all walks of life to sing their hearts out for Malaysia.
— AEC News Today/ PRNewswire (media release)

Japanese support for Malaysia to slay Blue Samurai
A Japanese will be rooting for Malaysia to beat Japan in an Asian Games round of 16 match in Bekasi tomorrow.
— New Straits Times

Sime Darby Plantation completes purchase of Markham Farming
Sime Darby Plantation Bhd (SDP) announced that its wholly-owned subsidiary, New Britain Palm Oil Limited (NBPOL), has completed the acquisition of Markham Farming Company Limited (MFCL) for US$52.6 million (about RM215.6 million) from Markham Agro Pte. Ltd. (MAPL).
— New Straits Times

MIDF Research upgrades Deleum to “buy”
Analyst remains optimistic that Deleum Bhd’s earnings will continue to be buoyed by high activity levels in second half (2H) of financial year ending December 31, 2018, driven by power and machinery (P&M) segment.
— New Straits Times

Singaporeans taking advantage of Malaysian tax holiday too
Not only Malaysians are enjoying the three-month tax holiday but Singaporeans too are taking advantage of the zero-rating of the Goods and Services Tax to have their shopping sprees across the Straits of Johor.
— Asia One

MIA proposes increasing penalty by up to ten times
The Malaysian Institute of Accountants (MIA) wants to increase the penalty for accountants who flout the law by up to 10 times.
— The Star Online

Controversy over Menara UOA Bangsar
A unique situation has risen over the management of Menara UOA Bangsar, one of five commercial office blocks under UOA REIT, which comes under the UOA Group.
— The Star Online

30 young ambassadors to travel to Vietnam, Malaysia for agricultural exchange
Thirty young ambassadors will embark on August 26 for an eight-day trip to Vietnam and Malaysia to expand agricultural exchanges and explore business opportunities.
— Taiwan News

Public Bank shares hit record high
Public Bank Bhd’s share price hit a record high and breached the RM25-mark yesterday, just shy of hitting the coveted RM100bil market capitalisation size.
— The Star Online

iMoney collaborates with RAMCI, RHB to unveil digital loan platform
iMoney, a leading fintech platform in Malaysia, is collaborating with RAM Credit Information (RAMCI) and RHB Bank Berhad to introduce a digital loan application platform complemented by iMoney CreditScore, the first free user-friendly tool for Malaysians to check their credit score and understand their financial health.
— The Borneo Post

‘Wrong to collect copyright royalties from coffee shop owners’
Deputy minister Chong Chieng Jen says main reason TV sets are set up in coffee shops is for watching football matches, not music.

Two drivers caught for using Malaysia-registered vehicles to provide chauffeured services
An enforcement operation last Friday (Aug 17) against drivers who use Malaysia-registered vehicles to provide chauffeured services netted two drivers, who may be fined up to S$3,000 and jailed up to six months if convicted.
— Today Online

Why you should consider studying in South East Asia
Eric Kimathi Buantai, Director International Officer at the Universiti Selangor swears that opting to study in Malaysia remains his best decision yet.
— Standard Media

Ancient Malaysian site off the radar
Malaysia will restore what it claims is the oldest sites of human civilisation in Southeast Asia in a move to gain recognition as a World Heritage site.
— TTR Weekly


Feature photo David McAughtry


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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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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