Malaysia Morning News For July 27

Malaysian PM Mahathir: ‘Most of the top echelons in the government are corrupt’
Malaysian Prime Minister Mahathir Mohamad, who staged a stunning election upset earlier this year to return to power aged 92, said he inherited a government lousy with corruption and with few trustworthy officials.
— CNN (video)

Najib won’t confirm or deny letter by Malaysian intelligence unit asking for CIA support
Former Malaysia prime minister Najib Razak declined to confirm or deny the existence of a letter written by a Malaysian intelligence unit then under his watch, asking the US Central Intelligence Agency (CIA) to support his Barisan Nasional (BN) coalition.
— The Straits Times

Malaysia’s GDP value at RM1.353 trillion in 2017
Malaysia’s economy augmented further in 2017 with the Gross Domestic Product (GDP) value at current prices reaching RM1.353 trillion, up 9.9 per cent from the RM1.231 trillion registered in 2016.
— The Star Online

Malaysia’s food security ranks No. 2 in South-East Asia
The food security level in Malaysia ranks second among South-East Asian nations, says Deputy Agriculture and Argo-based Industry Minister Sim Tze Tzin.
— The Star Online

MAHB incentives given to all airlines, not only: AirAsia
AirAsia Group Bhd (AirAsia) said the low-cost carrier (LCC) has contributed at least RM3.5 billion in revenue in terms of aeronautical charges to Malaysia Airports Holdings Bhd (MAHB), since it began operation in 2001.
— New Straits Times

Anti-wasp plastic covers caused Malaysia Airlines flight emergency
An Australian report says pre-flight inspection failure forced a Malaysia Airlines flight from Brisbane to Malaysia to return to Brisbane earlier this month.
— FMT

AirAsia X carries 1,568,578 passengers in Q2 2018
Long-haul operator, AirAsia X Bhd has carried 1,568,578 passengers in the second-quarter (Q2) of 2018, recording 13 per cent increased Year-on-Year (YoY).
— New Straits Times

Vietnam, Malaysia to limit waste imports as shipments build up at ports, pollution worsens
Vietnam will stop issuing new licences for the import of waste and crack down on illegal shipments as thousands of containers of paper, plastic and metal scrap build up at the country’s ports, raising concerns about the environment.
— The Straits Times

Revealed – 6 types of passive income in Malaysia
It is important to have a few steady sources of passive income so that if you can’t work your day job for some reason, there will still be money streaming in.
— FMT

Malaysia Economic Monitor: Navigating Change
Malaysia’s near-term growth is projected to remain strong with sound economic fundamentals.
— World Bank

Malaysia Airlines to capture 50% moslem market share in Malaysia, Indonesia
Malaysia Airlines Bhd (MAB) aims to tap into 50% of the umrah pilgrimage market in Malaysia and Indonesia with 270,000-290,000 umrah pilgrims projected to make their pilgrimage to the holy land in the upcoming pilgrimage season.
— Retail News

‘Malaysia likely to miss fiscal deficit target’
Malaysia is likely to see a widened fiscal deficit in gross domestic product (GDP) of 3.2% this year due to revenue losses as a result of the transition from the good and services tax (GST) to sales and services tax (SST).
— The Sun Daily

ASNB advises investors to be wary of Macau scams
Amanah Saham Nasional Berhad (ASNB) has advised investors to be vigilant and not to divulge personal details or investment information to any unknown parties.
— The Star Online

Selangor stays as main economic driver for Malaysia
Selangor remained as the main economic driver for the country in 2017, with a contribution of about 23.0% of Malaysia’s gross domestic product (GDP), Deputy Prime Minister Datuk Seri Wan Azizah Dr Wan Ismail said today.
— The Edge Markets

Malaysia, Singapore shares gain slightly
Malaysia and Singapore shares edged slightly higher Thursday helped by gains in finance stocks buoyed by a compromise between U.S. and European Union on trade issues, but investors still remained cautious.
— Nikkei Asian Review

Sabah sets up taskforce to propel oil and gas sector
The Sabah state government has set up a taskforce to propel the oil and gas sector in the state.
— The Borneo Post

In Malaysia, an island drowns in its own development
Muddy carpets and soaked furniture lay in moldering piles on the streets of this state capital.
— Mongabay

Prolonged trade war will impact Malaysia
Malaysia will be impacted by the trade war between the United States and China in the long run, said the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC).
— The Borneo Post

Unauthorised POS transaction in viral video did not happen in Malaysia — ABM
The Association of Banks in Malaysia (ABM) said today that a viral video which featured a portable point-of-sale (POS) terminal being used to perform an unauthorised transaction via a contactless payment card located in a cardholder’s pocket, did not occur in Malaysia.
— The Edge Markets

Strengthening connectivity would make Malaysia a strong global aviation hub
Malaysia Airports Holdings Bhd (MAHB) said the development of a strong hub is not about facilitating a single airline business model as it involves the seamless integration and connectivity of all systems and network of airlines.
— New Straits Times

UnionPay International Partners with Boost to Expand Footprint in Malaysia and Internationally
On July 25th, global payment brand UnionPay announced its partnership with Boost, Malaysia’s homegrown e-wallet app, to grow its footprint in Malaysia and overseas.
— AsiaOne

AirAsia jumps on KKIA Terminal 2 hope
Share price in AirAsia Bhd climbed to its highest since Pakatan Harapan won the general election on May 9, bolstered by news that the government is looking into the budget carrier’s request to move its base in Kota Kinabalu to a dedicated low cost terminal.
— The Star Online

KIP REIT exceeded forecast, on higher rent and lower expenses
KIP Real Estate Investment Trust’s (REIT) performance for the year ended June 2018 exceeded its Initial Public Offering (IPO) forecast, posting RM828,000 in net property income and RM4.58 million in net profits.
— New Straits Times

Kula: Foreign workers not ‘stealing’ jobs from locals
The human resources minister says foreign workers are hired for jobs that do not require vocational certification.
— FMT

Malaysia leads CPOPC this year
The Malaysian government, via the Primary Industry Ministry, will lead in proposing and implementing initiatives of the Council of Palm Oil Producing Countries (CPOPC), as chairmanship rotates to Malaysia, this year.
— New Straits Times

Xiaomi’s Mi A2 will be available in Malaysia in the “next few days”
The global launch of Xiaomi’s brand new Mi A2 smartphone was just a couple of days ago, but according to a local grey importer, the device will be available in Malaysia in the next few days. And they’re not talking about an import set.
— Soyacincau

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