Malaysia Morning News For May 11

What mattered in GE14: campaigns, Islam, 1MDB, cost of living
To kick off our live blog of Malaysia’s momentous 14th general election (GE14), we asked six experts of Malaysian studies to contribute their thoughts on what stood out most about the campaign.
— New Mandala

Mahathir to focus on economy, trade after being sworn in as Malaysian PM
Mahathir Mohamad said he’d lead a business-friendly administration and seek ways to boost Malaysia’s stock market in his first remarks after being sworn in as prime minister.
— Financial Review

Mahathir says will steady ringgit
Malaysian Prime Minister Tun Dr Mahathir Mohamad said on Thursday that he will try to make the ringgit currency as steady as possible, and return billions of dollars lost in a graft scandal at state fund 1Malaysia Development Berhad (1MDB).
— New Straits Times

Phnom Penh Post Apocalypse (photo special)
It didn’t take long for any guarantees by the new owner of Post Media to respect the editorial independence of his new purchase to fly out the window.
— AEC News Today

Malaysia’s central banks holds rate steady as expected
Malaysia’s central bank Thursday kept the benchmark policy interest rate unchanged as anticipated and it expects inflation to stay modest this year amid sustained growth.
— Nikkei Asian Review

Gas Malaysia to spend RM190m in capex in 2018
Gas Malaysia Bhd is spending RM180 million to RM190 million in capital expenditure (capex) this year to continue to expand gas distribution infrastructure to reach out a wider customer base.
— New Straits Times

BNM maintains OPR at 3.25 per cent
Bank Negara Malaysia (BNM) has maintained the Overnight Policy Rate (OPR) at 3.25 per cent following the Monetary Policy Committee (MPC) meeting yesterday.
— The Borneo Post

Malaysian labour force increases 0.7 per cent in 1Q18
The Malaysian labour force increased 0.7 per cent to 15.19 million persons in the first quarter 2018 as compared to 15.09 million in the previous quarter.
— The Borneo Post

ABM members assure sufficient cash in ATM facilities
The Association of Banks in Malaysia (ABM), comprising 27 commercial banks in the country, has assured that there will be sufficient cash in ATM facilities to meet public demand over the holiday period on May 10 (today) and May 11.
— New Straits Times

At 36.42pc, BN records lowest popular vote in history
The Barisan Nasional (BN) coalition has hit a record-low in its electoral performances by winning only just over one-third of the votes when it lost power for the first time ever in history, calculations show.
— Malay Mail

Malaysian ETF slumps as surprise election win heats up trading
THE biggest exchange-traded fund holding Malaysian stocks staged its biggest slump in almost 2 1/2 years as volume surged amid a surprise election victory by the country’s opposition alliance.
— The Star Online

Boustead Plantations to aquire RM433m plantation assets
Boustead Plantations Bhd (BPB) plans to buy a parcel of plantation land and a palm oil mill worth RM433 million as part of its overall strategy to expand its landbank.
— The Malaysian Reserve

Services sector revenue up by 7.6pc YoY to RM403b in Q1 2018
Services sector revenue increased 7.6 per cent to RM403.0 billion in the first quarter 2018 as compared to the same quarter of 2017.
— New Straits Times

Goodbye Malaysian cronyism, Hello Anwarnomics
ONLY 24 hours ago I was lamenting the Malaysian political system’s incapability to self-correct after a plunder as brazen as the alleged $4.5 billion looting of 1MDB, a state investment firm. The voters proved me wrong.
— The Star Online

‘Malaysia has made its choice’
‘Malaysia has made its choice and the will of the people has been heard.’ Former Defence Minister Datuk Seri Hishammuddin Hussein said this in a statement, in which he thanked all voters who performed their civic duty as Malaysian citizens yesterday during the 14th General Election (GE14).
— Yahoo News

Bursa to resume on May 14
Bursa Malaysia Bhd and its subsidiaries will be closed for two days starting on Thursday, May 10 in conjunction with the special public holiday announced by Chief Secretary to the Government, Tan Sri Dr Ali Hamsa.
— The Borneo Post

GE14 outcome reflects growing political maturity: Aberdeen CEO
The outcome of Malaysia’s 14th general election reflects a growing level of political maturity and respect for democracy that would be beneficial for the country’s appeal to foreign investors and economic prospects over the medium to longer term.
— The Sun Daily

Malaysia Growth Opportunities of Credit Insurance Market to 2023
Marketresearchnest Reports adds “2018-2023 Malaysia Credit Insurance Market Report (Status and Outlook)”new report to its research database. The report spread across 83 pages with multiple tables and figures in it.
— Business Service24

Shares ease on Malaysia’s election results
The unexpected election results across the Causeway left traders here dithering yesterday, even as analysts warned of looming ringgit volatility.
— The New Paper

Perak BN has enough seats to form State government — Zambry
Perak Barisan Nasional (BN) chairman Datuk Seri Dr Zambry Abd Kadir has claimed that the coalition has enough seats to form the next State government.
— The Edge Markets

Malaysia’s political change could be boon or bane for S’porean firms operating there
News of opposition coalition Pakatan Harapan’s (PH) historic victory in the 14th Malaysian General Election drew mixed reactions from Singapore companies that conduct business across the Causeway, with some expressing concerns about potential changes in the business environment there.
— Today Online

Malaysia targets China’s 2nd-tier cities to boost exports
Malaysia wants to boost exports to China by tapping into business opportunities in the republic’s north west second-tier cities.
— The Malaysian Reserve

Malaysia election: MCA’s Liow says accepts results, MIC president Subramaniam may go back to medicine
The Malaysian Chinese Association (MCA), one of the ethnic component parties of the Barisan Nasional (BN) coalition, has said it accepts the general election results and respects the people’s decision.
— The Straits Times

Feature photo OXLAEY

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.