Malaysia Morning News For July 9

Malaysia’s review of China-related projects not affecting Alibaba’s investment plans
The review of China-related projects in Malaysia has not faltered e-commerce giant Alibaba Group’s plans to continue to invigorate investments in Malaysia.
— New Straits Times

Lim Guan Eng : Malaysia to abide by water pact with Singapore
Malaysian Finance Minister Lim Guan Eng said that the country will stick with its longstanding agreement with Singapore on water supply even after Prime Minister Mahathir Mohamad had suggested a renegotiation, Singapore’s Sunday Times reported, citing an interview with Lim.
— The Edge Markets

Razer Pay uses Malaysia as entry point to SEA
Asia Pacific is home to the largest gaming markets in the world with China and Japan at the top of the market. Statista estimates that in 2017, gaming in China was worth $32.54 billion while Japan grossed $14.05 billion.
— Telecomasia

Interview: Tun Dr Mahathir Mohamad On New Malaysia And The Rule Of Law
Investvine (Firoz Abdul Hamid and Imran Saddique) sat down with new Malaysian Prime Minister and eldest elected head of government Tun Dr Mahathir Mohamad to discuss what is New Malaysia, autonomy for Sabah and Sarawak, investment, infrastructure and other hot topics.
— Investvine (video)

PM Mahathir meets Zakir Naik, Malaysia ruling party defends not deporting him
Malaysian PM Mahathir Mohamad has met Zakir Naik, wanted in India for alleged terror activities and money laundering, as a ruling party strategist stoutly defended the government’s decision not to deport the controversial Muslim preacher, Malaysian media reported today.
— Tribune India

Crackdown on illegal immigrants will continue: Immigration DG
The Immigration Department will continue its crackdown on illegal immigrants in the country, said its director-general Datuk Seri Mustafar Ali.
— New Straits Times

New Malaysia must be inclusive for all, says lawyer
The new Pakatan Harapan government should accord all Malaysians – regardless or faith, beliefs, race, sexual identity, skin colour and political affiliation – a chance to contribute to the country, says civil rights lawyer Syahredzan Johan.
— Malaysia Kini

Anwar undergoes spinal surgery in Turkey, to have another operation on Thursday
PKR adviser Anwar Ibrahim had spinal surgery procedure performed on him in Turkey and will undergo another operation on his his right shoulder on Thursday (July 12).
— The Nation

Is the government’s rice move the right one?
PADIBERAS Nasional Bhd (Bernas) came under the spotlight recently when the government announced that the company’s monopoly to import rice, a right it has had since 1974, would be terminated.
— The Star Online

Turf war over Sarawak oil & gas resources may stump new investments
Industry players believe that the turf war of sorts between Petroliam Nasional Bhd (Petronas) and the Sarawak state government is likely to affect new investments into the state’s oil and gas sector more than existing players in the market.
— The Sun Daily

Eonmetall plans to invest RM100mil in steel racking and M&E ops
Eonmetall Group Bhd is investing more than RM100mil this year and 2019 in its steel racking and machinery and equipment (M&E) business.
— The Star Online

Malaysia regulator urges crowdfunding, financing platforms to register
Malaysia’s capital markets regulator is urging investors who want to operate equity crowdfunding (ECF) or peer-to-peer (P2P) financing platforms to apply for registration by September 7, warning that it’s illegal to run the platforms without authorisation.
— Asia Asset

ICCL’s new regional distribution center will beef up connectivity in the halal logistics industry
Integrated Cold Chain Logistics Sdn Bhd (ICCL), a leading total logistics company in the country, launched its new one-stop regional distribution and centre of excellence for the halal logistics industry.
— New Straits Times

MREITs: Recovering share prices but unexciting outlook
After the Kuala Lumpur Real Estate Investment Trust (KLREIT) index recovery plunged to a low of minus 13 per cent in March, MREITs share prices have been recovering but Kenanga Investment Bank Bhd (Kenanga Research) reckons that the sector’s outlook is still unexciting as it continues to be plagued with unexciting reversions.
— The Borneo Post

Malaysian stocks, ringgit to remain under selling pressure
The Malaysian stock market and the ringgit, which have seen constant pressure since the surprise outcome of the 14th general election, are unlikely to change course anytime soon as the US action to slap tariffs on imports from China is expected to increase risk aversion in the short term, say economists.
— The Sun Daily

Top Glove sues Singapore’s Adventa Capital over RM1.37bil Aspion acquisition
Top Glove Corp Bhd has claimed conspiracy to defraud the group by Singapore-based Adventa Capital Pte Ltd pertaining to its RM1.37 billion acquisition of the latter’s unit Aspion Sdn Bhd.
— New Straits Times

Temasek set to book record S$300m portfolio
Singapore state investor Temasek Holdings Pte Ltd is likely to book a record S$300 billion (RM892.3 billion) for the value of its portfolio, powered by gains in DBS Group Ltd and Chinese banks, while it steps up investment in tech startups.
— The Sun Daily

Prasarana mulls taking over LRT 3
Prasarana Malaysia Bhd is considering taking over the construction of the Light Rapid Transit line 3 (LRT 3) from its project delivery partner (PDP) to curb its spiraling cost.
— The Star Online

Review: Malaysia Airlines’ regional business class Golden Lounge, Kuala Lumpur
Recently-revamped in 2017, Malaysia Airlines’ Regional Golden Lounge at Kuala Lumpur International Airport’s Main Terminal caters primarily to business class passengers and Gold and Platinum frequent flyers departing on shorter flights within Asia, being separate to the airline’s flagship Golden Lounge and Platinum Lounge in the Satellite Terminal.
— Australia Business Traveller

External headwinds create uncertainties in the market
Prevailing external factors will continue to plague regional equity markets including Malaysia, creating uncertainties and causing fund managers to stay on the sidelines.
— The Sun Daily

Fujifilm debuts first Wonder Photo Shop in Penang
Fujifilm Malaysia this week unveiled its first Wonder Photo Shop in Penang, making it the fourth concept store of its kind for the ultimate photo printing and brand experience in Malaysia, alongside three other Wonder Photo Shops at Sunway Pyramid, Plaza Shah Alam and Isetan, Lot 10.
— The Borneo Post

Feature photo Andrew H

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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.