Malaysia morning news for August 7

Malaysia morning news for August 7
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Malaysia morning newsMalaysia: Indonesia returns yacht at center of graft probe
Malaysian Prime Minister Mahathir Mohamad said Monday that Indonesia has handed over a luxury yacht allegedly bought with money stolen from the multibillion-dollar looting of a state investment fund.
— ABC News

Lombok earthquake: Malaysian volunteer describes chaos at airport
“We shouted the azan (Islamic call to prayer) when the roof of the Lombok International Airport began to sway, as if it was about to collapse on us.”
— New Straits Times

500,000 Malaysians jobless, mainly first-time job-seekers
About 500,000 Malaysians are currently jobless, with the highest rate of unemployment in Labuan (8.6%), followed by Sabah (5.5%) and Terengganu (4.5%).

Malaysia’s GDP growth may take a hit from US-China spat
The trade war between China and the United States which is gaining momentum could drag the growth forecast of Malaysia, according to English daily The Star.
— Today Online

No SST for manufacturers in free zones, says Customs
Several benefits arise from the upcoming implementation of the Sales and Services Tax (SST) 2018, or SST 2.0 by September 1, such as not being any SST for manufacturers within the Free Industrial Zone (FIZ).
— The Borneo Post

Malaysia approves a Singapore Rail Link, for now
Malaysia’s new government has called into question the future of multibillion-dollar rail projects since Tun Dr Mahathir Mohamad took power in May.
— The Star Online

‘Apply laws to foreign labour too’
IT is high time the government seriously looked into measures, including those unpopular with industry players, to reduce the nation’s dependency on foreign workers.
— New Straits Times

Govt-linked Islamic body’s funds frozen
Funds belonging to Malaysian Islamic Strategic Research Institute (Iksim) have been frozen with immediate effect, a minister from the Prime Minister’s Department announced today.

Alibaba Cloud makes deeper inroads into Malaysia
The Chinese cloud supplier’s second availability zone and upcoming DDoS scrubbing centre in Malaysia comes on the heels of growing investments in the Southeast Asian nation.
— ComputerWeekly

Malaysia’s $200 Billion Pension Fund Gets a New CEO
Malaysia’s 814.38 billion ringgit ($200 billion) pension fund — the Employees Provident Fund — has chosen a successor to take over from departing chief executive Shahril Ridza Ridzuan.
— Institutional Investor

Malaysia Shuts Down Saudi-Supported Counterterror Center
The Malaysian government has closed the Saudi-backed anti-terrorism center named after the kingdom’s ruling monarch, members of parliament were told on Monday.
— Benar News

AU: Ripe Australian avocados impress in Malaysia and Singapore
The Australian avocado industry has conducted a multi-year project to introduce ripe Australian avocados to retail shelves, in Malaysia and Singapore.
— Fresh Plaza

Govt looking into rebranding National Civics Bureau
The government is studying to rebrand the National Civics Bureau (BTN) so that the role and function of the agency will no longer deviate from the main objectives of its establishment.
— The Edge Markets

Financial performance of 25 ministries rated good by AG
The level of financial performance of 25 ministries for 2017 was rated as overall good with all receiving marks of more than 70 per cent.
— The Star Online

M’sia, Indonesia to use emotion to promote palm oil to EU
Malaysia and Indonesia will use the emotional element such as the health benefits of palm oil in their campaign to gain the confidence of the European markets, says Deputy Primary Industries Minister Shamsul Iskandar Mohd Akin.
— The Borneo Post

Jho Low’s lawyers claim bringing Equanimity to Malaysia is ‘illegal act’ by Dr M
Tun Dr Mahathir Mohamad’s “illegal” act of bringing the Equanimity back to Malaysia proves he has no interest in a fair and just process, said the lawyers of businessman Jho Low.
— The Star Online

AmBank Research expects stronger GDP in Q2
Malaysia’s gross domestic product (GDP) is anticipated to grow at a much stronger pace in the second quarter 2018 (Q2’18), underpinned by stronger exports and imports, according to AmBank Research.
— The Sun Daily

Robbers in Malaysia Swipe 50 Kg of Drugs From Customs
Police in Malaysia have arrested two customs officers and three other suspects after a gang of thieves stole about 50 kilograms of narcotics, ketamine and heroin, from a customs storage facility in a heist on Sunday.
— US News

Optimistic on Bumi Armada’s contract extension in Vietnam
Analysts are optimistic on Bumi Armada Bhd (Bumi Armada) following a six-year firm contract extension with HLJOC (Vietnam) for the charter of FPSO Armada TGT 1, with a contract value of US$285 million or RM1.16 billion.
— The Borneo Post

RAM sees CPO prices at RM2,200-2,400 in second half
RAM Ratings expects crude palm oil (CPO) prices to be sustained between RM2,200 and RM2,400 per metric ton (MT) in the second half of the year, on the back of demand support from biodiesel and the possibility that domestic production growth may not be as strong as anticipated.
— The Sun Daily

KKB Engineering unit secures Petronas contract
KKB Engineering Bhd’s unit, OceanMight Sdn Bhd has won a contract from Petronas Carigali Sdn Bhd for the provision of engineering, procurement, construction and commissioning of wellhead platforms for the D18 Phase 2 project.
— The Borneo Post

Malaysia to be Esports hub in Asia: Syed Saddiq
Youth and Sports Minister Syed Saddiq Syed Abdul Rahman has pledged to transform Malaysia into an esports powerhouse not only in Asean but also Asia.
— New Straits Times

Malaysia reports H5N1 bird flu outbreak on farm: OIE
Malaysia has reported an outbreak of the highly contagious H5N1 bird flu virus on a farm in the eastern region of Sabah, the World Organisation for Animal Health (OIE) said on Monday, citing a report from Malaysia’s veterinary authorities.

Mohd Bakke appointed MPOB chairman
Sime Darby Plantations Bhd’s executive deputy chairman and managing director Tan Sri Datuk Seri Mohd Bakke Salleh has been appointed as Malaysian Palm Oil Board’s (MPOB) chairman for a two-year term, effective July 31.
— The Sun Daily


Feature photo Conny Sandland


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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