Malaysia Morning News For June 19

Malaysia could soon export fresh Musang King durians to China
Malaysia’s Agriculture and Agro-based Industry Ministry is expected to receive approval to export fresh whole Musang King durian – known popularly as Mao Shan Wang – to China next year.
— The Straits Times

Malaysia #GE18: Najib’s Fall About Being Truly ‘Malaysian’
The stunning victory of Malaysia’s opposition on May 9, 2018 in the country’s 14th general election and the equally impressive peaceful turnover of power — as the federal government changed hands for the first time in the country’s 60-year history — has put Malaysia in the international spotlight.
— AEC News Today

Jack Ma launches Malaysian office
Alibaba Group has opened its national office here – its first in South-East Asia – marking a new chapter in the company’s strategic cooperation with Malaysia, which housed the group’s first overseas electronic world trade platform (eWTP) hub.
— The Star Online

Malaysian Minister: Vegetables and meat 30-50% cheaper after zero-GST
The prices of fresh produce have dropped significantly after the Goods and Services Tax was zero-rated on June 1, says Agriculture and Agro-based Industry Minister Salahuddin Ayub.
— Fresh Plaza

Najib wants govt action on palm oil prices
Former Prime Minister Datuk Seri Najib Razak has urged the government to take steps to resolve the price and demand of palm oil immediately.
— New Straits Times

Thailand will wait for Malaysia’s decision on Southern Thailand peace talks
Thailand will have to wait for a decision by the new Malaysian Government regarding the future of the southern Thailand peace process following the defeat of the Barisan Nasional government in last month’s 14th General Election.
— The Edge Markets

Japanese banks positive towards extending yen credit to Malaysia
Several Japanese banking institutions are responsive towards extending yen credit in the form of soft loans to Malaysia, said Japanese Ambassador to Malaysia Dr Makio Miyagawa.
— New Straits Times

Election shock leaves Umno news portals‎ scrambling
FOLLOWING Umno and Barisan Nasional (BN)’s defeat in the 14 general election (GE14), some news portals that were tied to the party have shut down while those still operating have shed staff in order to survive.
— The Malaysian Insight

FMM: Maintain electricity tariff, let Socso handle EIS funds
The Federation of Malaysian Manufacturers (FMM) is urging the government to maintain electricity tariffs until Dec 31, 2020 and accord the Social Security Organisation (Socso) with the responsibility of managing funds collected under the Employment Insurance System (EIS), which is now under review.
— The Sun Daily

Online hiring in Malaysia fell 11pc, demand for tech skill still strong
Demand for tech talents continues to surge in Malaysia, prompting an uptrend in online hiring activity in the first quarter.
— New Straits Times

Malaysia, Japan keen to expand collaboration, says Wan Azizah
MALAYSIA and Japan are keen to expand collaboration in various areas including disaster management and social protection policies, Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said today.
— The Malaysian Insight

Pimco Becomes Cautious on Malaysia as Tax Reform to Hurt Revenue
Pacific Investment Management Co. is cautious on Malaysian bonds, predicting the new government’s economic reforms will hurt state finances, while a review of infrastructure spending curtails investment.
— Bloomberg

China investors still upbeat on Malaysia despite ECRL review
China’s investors are still upbeat on Malaysia despite the government reviewing the East Coast Rail Line (ECRL) project which had been awarded to a Beijing-linked firm, said the republic’s ambassador to Malaysia Bai Tian.
— The Edge Markets

Malaysia remains committed to fair trade: Guan Eng
Malaysia will remain committed to fair trade, freedom of information and the rule of law (with mutual benefits) including respecting intellectual property rights that forms part of the Multimedia Super Corridor (MSC).
— New Straits Times

Bilateral trade between Malaysia, China to exceed US$100 bln
Bilateral trade between Malaysia and China is expected to exceed US$100 billion this year, higher than the US$96 billion chalked up in 2017, said China’s ambassador to Malaysia, Bai Tian.
— New Straits Times

RM50bil cheaper alternative to KL-S’pore high speed rail
An alternative proposal to have a railway link to Singapore by upgrading the present infrastructure will only cost the government RM20bil – much lower than the high speed rail (HSR) project which will cost between RM60bil and RM70bil.
— The Star Online

Demand for dollar, US-China trade tensions to weigh on ringgit
The ringgit, which fell below 4.00 to the US dollar Monday, is expected to see more losses, currency observers opine, as appetite for the greenback grows unabated and fears of a trade war between China and the US persist.
— The Sun Daily

HSBC encourages professional women on a break to make career comeback
HSBC Malaysia in collaboration with TalentCorp launched an internship initiative, ‘Career Comeback’ programme to help female professionals resume their career post-sabbatical.
— The Borneo Post

Malaysia: Food, Transport To Boost Inflation In May
Inflation will stay low throughout 2018 due to a cut in the Goods and Services tax (GST).
— Seeking Alpha

SST should start at affordable rate, below 10 per cent
The Bumiputera Retailers Organisation (BRO) Treasurer Mustakim Manaf has echoed the organisation’s vice president Datuk Wira Ameer Ali Mydin’s suggestion that the Sales and Services Tax (SST) rate should be more affordable at below 10 per cent.
— The Borneo Post

Malaysia Bourse May See Another Soft Start
The Malaysia stock market has finished lower in six consecutive trading days, sliding more than 40 points or 2.4 percent in that span.
— Nasdaq

Malaysia’s Multimedia Super Corridor inspired me: Alibaba founder
The inspiration to form Chinese e-commerce giant Alibaba was inspired by Malaysia’s Multimedia Super Corridor (MSC), said Mr Jack Ma.
— The new paper

Heineken Malaysia names new managing director
Heineken Malaysia has appointed Roland Bala as its managing director. He replaces Hans Essaadi who will be taking up the position of managing director of Heineken Eygpt effective 1 September 2018.
— Marketing-Interactive

Feature photo Bernard Spragg. NZ

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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.