Malaysia Morning News For May 1

Malaysia needs to accelerate private investment
Malaysia needs to accelerate private investment to achieve higher productivity and add more value to products and services in order to lift the income level of the people, especially the Bottom 40 per cent of households (B40) group.
— The Borneo Post

After three years, GST has saved billions lost in SST
Three years after its introduction in April 2015, the Goods and Services Tax has plugged the loss of billions of ringgit through the Sales and Services Tax (SST).
— New Straits Times

Malaysian Election: Opposition Looks To Freeze Chinese Investments
Making their case to take over Malaysia’s government following the May 9 general election, leading politicians from the main opposition bloc are threatening to freeze major development projects involving China to reevaluate whether they truly benefit their country.
— Eurasian Review

Malaysia jails first person under fake news law
A Danish man was jailed for a week in Malaysia Monday after pleading guilty to breaking a law against “fake news”, the first person to be punished under the controversial legislation.
— Capital FM

Connected mobility a right step for auto industry: BMW Malaysia
The connected mobility highlighted in the new National Automotive Policy 2018 (NAP 2018) is a step in the right direction that will position Malaysia in the automotive industry moving forward, said BMW Malaysia Chief Financial Officer Michael Rainer.
— New Straits Times

Palm seen trading at 2,400-2,700 rgt/T range ahead of Malaysian elections — analyst Mistry
Malaysian palm oil futures are expected to trade from 2,400 to 2,700 ringgit (US$612.56-US$689.13) per tonne, based on current demand and supply scenarios and ahead of the Southeast Asian country’s national elections in early May, leading industry analyst Dorab Mistry said on Saturday.
— The Edge Markets

Net Financing Growth Supports Malaysia Economy
Malaysia’s net financing growth continued to support economic activity but moderated to 6.8% in March this year from 7.4% in February.
— Financial Tribune

Malaysian workers benefiting from minimum wage policy
From the time of its independence and until the dawn of the new millennium, Malaysia has never made a solid move to set uniform minimum wage across the industry.
— The Borneo Post

Malaysia just opened a fine-dining restaurant in a converted Boeing 737 — here’s a look inside
Malaysia now has its first restaurant in an actual airplane, Plane In The City, right in the heart of Kuala Lumpur.
— Business Insider

Mahathir refused to adapt to the times — Najib
Datuk Seri Najib Tun Razak has hit out at Tun Dr Mahathir Mohamad over the latter’s pledge to review e-hailing services such as Grab if the opposition wins the 14th general election in an attempt to gain support from taxi drivers.
— The Borneo Post

Former Malaysian envoy urges cooperation with more countries under Belt and Road Initiative
Malaysia should take the opportunities to seek more cooperation under the Belt and Road Initiative, not only with China but also with other participating countries, a former senior Malaysian diplomat said here on Monday.
— Xinhua

Malaysia Airlines warns against unlawful use of its trademark
Malaysia Airlines Bhd (MAB) has warned that it would take action against the unlawful use of its registered trademark.
— The Star Online

Malaysia: Top Fruits are expanding downstream route
Fruit-based food manufacturer Top Fruits is planning to expand its downstream operations.
— Fresh Plaza

Singapore, Malaysia shares rise on strong US earnings
Singapore and Malaysia shares rose Monday as investors in Asia drew comfort from robust U.S. corporate earnings and easing geopolitical tensions in the Korean peninsula.
— Nikkei Asian Review

Chin Teck Plantations’ earnings more than double to RM22.66m
Chin Teck Plantations Bhd’s earnings more than doubled to RM22.66 million in the second quarter ended Feb 28, 2018, from RM8.11 million a year ago, thanks mainly to a net fair value gain of RM14.11 million on the sale of investment securities.
— New Straits Times

Sumatec falls into PN17, auditors question Kazakhstan venture
Westports Holdings Bhd is acquiring a piece of leasehold under sea land measuring 381 acres on Pulau Indah from Perbadanan Kemajuan Negeri Selangor (PKNS) for RM116.19 million, which will be used to expand its container terminal.
— The Sun Daily

Naza Automall one-stop automotive gallery offers exciting exclusive deals
The Naza Automall is now back with more automotive brands, making it Malaysia’s first one-stop automotive gallery that offers exciting deals, beginning today (May 1), exclusively for Naza Automall customers.
— New Straits Times

PetGas will spend RM1.3b capex in 2018
Petronas Gas Bhd (PGB) is allocating RM1.3 billion in capital expenditure (capex) this year, mainly to revamp its overall operation facilities.
— New Straits Times

Public Mutual declares RM121m distributions for 10 funds
Public Bank’s unit Public Mutual has declared distributions amounting to more than RM121mil for 10 funds.
— The Star Online

Malaysia’s reserves remain usable as at end-March 2018, says BNM
Malaysia’s reserves remained usable as at end-March 2018 with official reserve assets at US$107.82 billion, in accordance with the International Monetary Fund’s Special Data Dissemination Standard (IMF SDDS) format.
— New Straits Times

Sun Life Malaysia & BookDoc Activate Malaysians To Live Healthier Lives With SunActiv
Sun Life Malaysia recently announced its collaborative partnership with BookDoc to create a more health-conscious society through its wellness reward mobile application — SunActiv.
— AEC News Today/ PR Newswire (media release)

AirAsia X disputes MAHB’s claim over RM35m in unpaid dues
AirAsia X Bhd (AAX), the long-haul, low-cost affiliate of AirAsia Group Bhd, has disputed claims by Malaysia Airports Holdings Bhd (MAHB) for unpaid fees amounting to RM34.88 million, saying it has consistently made monthly payments to the airport operator.
— The Edge Markets

Lotte Chemical Titan posts lower 1Q profit
Lotte Chemical Titan Holding Bhd’s net profit for the first quarter ended March 31, 2018, fell 28.8 per cent to RM244.27 million from a year earlier due to a margin squeeze, foreign exchange (forex) loss and a higher effective tax rate (ETR).
— The Borneo Post

OCBC’s net profit rises 17pct for FY17
OCBC Bank (Malaysia) Bhd and its subsidiaries today reported a 17 per cent rise in net profit to RM949 million for the financial year ended Dec 31, 2017.
— New Straits Times

Armies of India, Malaysia start their first-ever bilateral exercise
The troops of the Indian and Malaysian armies today kickstarted ‘Exercise Harimau Shakti 2018’ in Kaula Lumpur, a statement by the Indian Army said.
— Business Standard

Malaysian couple make veggie pasta for kids
‘Eatalian Express’ was launched in January 2017 by husband-and-wife team Ahmad Yusman Faris Mohd Yusoff and Noraida Mohd Razali.
— Fresh Plaza

Feature photo Ah Wei (Lung Wei)

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.