Malaysia Morning News For December 3

Foreign Direct Investment Into Malaysia Increased 350% In Past Three Quarters
Malaysia’s foreign direct investments (FDI) volume increased to 49 billion ringgit ($11.72 billion) for the first nine months of this year compared with the same period last year.
— Investvine

StixFresh: amazing little sticker from Malaysia that keeps mangos fresher longer (video)
Here’s an idea that might just stick: a smart label that helps prolong the shelf life of certain fruits and vegetables.
— AEC News Today

Durian: the foul-smelling fruit that could make Malaysia millions
High up in the lush green mountains of Raub, you can smell them before you see them. The pungent waft in the morning breeze comes as quickly as it goes, but there is no mistaking: this part of Malaysia is the land of the durian.
— The Guardian

Higher tourist arrivals shop more at airports
Malaysia Airports Holdings Bhd is upgrading its retail space and commercial services to cater shopping appetites of higher tourist arrivals, said senior general manager for commercial services Mohammad Nazli Abdul Aziz.
— New Straits Times

Malaysia Influences SEA To Introduce The Digital Tax
Malaysia is officially the second country in Southeast Asia (SEA) to introduce a Digital Tax which could apply to both local and international players. Slated to be implemented by 1 January 2020, the tax is aimed to level the playing field and spark better competition in its e-commerce sector.
— Valuewalk

Petronas Gas’ Q3 net profit jumps to RM499.81m
Petronas Gas Bhd’s net profit in the third quarter (Q3) ended Sept 30, 2018 rose to RM499.81 million from RM417.43 million recorded in the same quarter last year.
— New Straits Times

SMEs aspiring for growth should approach CIMB
Business owners, especially those with small and medium-sized enterprises (SMEs), wanting to expand their business could seek advice from CIMB by going to its booth at the Malaysia Agriculture, Horticulture and Agrotourism Show (MAHA 2018) in Serdang Selangor.
— The Sun Daily

Is Airbnb impacting the hotel industry?
JOHN could have rented out his high-rise residential unit in Cheras for RM1,500, but that would not cover his monthly instalment of RM2,500.
— The Star Online

Malaysia Airlines’ operational progress in line with recovery plan
Although relatively little is being said and publicised about Malaysia Airlines Bhd’s (MAB) recovery plan, a substantial amount of progress has actually been achieved in its business operations in line with the plan which aims to revive the country’s national carrier and sustain its profitability.
— Malay Mail

Central bank digital currency – its time has come?
This means the shrinking role of traditional cash as we know it. New digital forms of money are already emerging. Cash use in Malaysia continues to remain rather high. Notes and coin account for 23% of money supply (MI) and 5% of broad money (M2) at the end of the third quarter.
— The Star Online

63,000 foreigners barred from entering Malaysia, says Immigration DG
The Immigration Department has barred the entry of 63,000 foreigners into the country for committing offences under the Immigration Act 1959/1963.
— FMT

16 agriculture commodities record over 100 per cent SSR
A research conducted by the Department of Statistics has shown that 16 out of 33 selected agricultural commodities have a self-sufficiency ratio (SSR) of more than 100 per cent in 2017.
— The Borneo Post

Private universities facing major financial crisis, need help
Private higher education is largely overlooked in the current debate on reform of higher education in Malaysia.
— FMT

Soldier detained for attempted rape in Malaysia
A 25-year-old soldier has been detained to assist in an investigation into an attempted rape at a shophouse in Batu Kawah, Malaysian police said on Sunday (Dec 2).
— Channel NewsAsia

MCA: Malaysia suffering post-GE14
The country’s flagging economy after GE14 is hurting the people, and oil palm smallholders are among the most hit, says MCA deputy president Datuk Dr Mah Hang Soon.
— The Star Online

Malaysia’s success at WorldSkills Asia is proof of TVET’s competency, says deputy minister
The 11 medals Malaysia won at the WorldSkills Asia (WSA) Abu Dhabi 2018 is proof that the nation’s Technical and Vocational Education and Training (TVET) is competent as well as of high quality and expertise, says Deputy Human Resources Minister Datuk Mahfuz Omar.
— Malay Mail

Boustead posts lower profit of RM7.3m
Boustead Holdings Bhd (BHB) posted a lower net profit of RM7.3 million in the third quarter (Q3) ended Sept 30, 2018, as the year-earlier profit of RM310.6 million had included a RM554.9 million gain from the sale of plantation land.
— New Straits Times

Leveling the broadband playing field
As the backbone of the digital economy, internet connectivity – or high speed internet connectivity in particular – is vital to ensure a nation’s continued digital growth at optimum speed.
— The Borneo Post

Malaysia’s haj fund says deposits are safe amid police reports on misuse by ex-top officials
Malaysia’s Muslim pilgrimage fund on Sunday (Dec 2) assured its depositors that their savings are safe, following news of past misuse of monies by former top officials and current senior management staff.
— The Straits Times

MAHATHIR’S U-TURN ON UN RACE TREATY: FOR MALAYSIA, A NECESSARY – IF BACKWARDS – STEP?
Malaysia’s U-turn on adopting a United Nations treaty against racial discrimination has raised doubts about its ratification of other human rights treaties, just months after Prime Minister Mahathir Mohamad promised the UN he would ratify all remaining rights-related conventions.
— South China Morning Post

Growing interest among Polish investors for Malaysia
There is growing interest among Poland’s investors to invest and expand their businesses in Malaysia due to the strategic location, ease at doing business and cost competitiveness, says Polish Ambassador to Malaysia, Krzysztof Debnicki.
— The Borneo Post

Don’t be influenced by racial, religious sentiments, says Mat Sabu
Muslims in Malaysia are reminded to be cautious and not to be easily swayed by racial and religious sentiments being played up by supporters of the former government.
— Malay Mail

Third quarter sees revenue, profit surge for HSL Group
The third quarter ended September 30, 2018 (3Q18) has seen further revenue and profit gains for Sarawak-based marine engineering and infrastructure specialist Hock Seng Lee Bhd (HSL).
— The Borneo Post

E-hailing price controls vital
E-HAILING is a great example on how a technological innovation can disrupt an existing market where in this case it threatens to wipe out taxi services.
— The Sun Daily

52 dropped from PTD programme
A total of 52 participants who are undergoing a special course to become Administration and Diplomatic Officers (PTD) have been dropped from the programme.
— New Straits Times

Micron’s new facility to offer 1,000 high-value jobs
Micron Technology Inc’s new centre of excellence for solid state drive (SSD) assembly and test in Batu Kawan is expected to create 1,000 high-value jobs in the electrical and electronics (E&E) sector once it is completed in 2021.
— The Borneo Post

Perkasa: Introduce special Act to protect Islam, Malay rulers
Right wing Malay movement Perkasa has proposed that a special Act, namely the Insulting Islam and the Malay Rulers Act or abbreviated as the ‘Amir’ Act be enacted to prevent actions or attempts to threaten the peace and harmony of the country.
— Malay Mail

Feature photo Kentaro IEMOTO

This week’s Malaysia morning news feature photo acknowledges International Civil Aviation Day, December 7.

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.