Malaysia Morning News For May 14

Mahathir is back—good news or bad for sustainability in Malaysia?
The world was shocked when the former prime minister swept to victory in last week’s general election. What could his return to power mean for the environment?
— Eco-Business

Mahathir girds for volatile start to Malaysian market trading
Malaysia’s new government is girding for a volatile start to trading on Monday when local currency, debt and equity markets open for the first time since the stunning election defeat of the coalition that had ruled the country for six decades.
— Reuters

Bank Negara expects economy to remain strong post-election environment
Bank Negara Malaysia (BNM) expects Malaysia’s economic outlook to remain strong despite the post-14th general election (GE14) environment, given its resilient and robust financial system.
— New Straits Times

Now out of power, Najib faces Malaysia wrath over 1MDB secrets
As Malaysia’s most powerful man, Najib Razak worked hard to keep the public from accessing information about a multi-billion dollar scandal at state fund 1MDB.
— Business Times

The Ascent Of Multi-Ethnic Politics In Malaysia
In the recently held 14th Malaysian general election, the people’s mandate went in favour of the newly constituted multi-racial coalition Pakatan Harapan (Alliance of Hope) under the chairman of Mahathir Bin Mohammad – a new entrant to the coalition.
— The Citizen

Changes in fiscal consolidation stance may slow down government debt reduction
There will be questions raised and policy uncertainty in the near term, following the 14th General Election (GE14) unexpected victory of Pakatan Harapan (PH).
— New Straits Times

Malaysia’s new finance minister was jailed twice by PM Mahathir
Malaysian Prime Minister Mahathir Mohamad’s finance minister, relatively unknown in international financial circles, is a man he threw into prison twice.
— Yahoo News

AirAsia boss apologises for Malaysia poll stunt
AIRASIA boss Tony Fernandes on Sunday apologised for a controversial stunt endorsing scandal-tainted Prime Minister Najib Razak before Malaysia’s general election, in which he suffered a stunning defeat.
— Business Times

Retail association backs government’s move to reinstate SST
It would take some times to reinstate the Sales and Services Tax (SST) and replace the current Goods and Services Tax (GST), but it is not difficult to do so, Malaysia Retailers Association (MRA) said.
— New Straits Times

Greater opportunities in the mid and small cap space, says Public IB Research
Public Investment Bank Bhd Research (PublicInvest) said that from Pakatan Harapan’s (PH) election manifestos, nothing suggested seems as draconian with particular regard to the business space, though there are explicit intentions to address certain monopolies with the aim of dismantling them.
— The Edge Markets

‘GLIC heads to continue to play important role in managing assets, public interests’
In managing the perception of investors during the transition of power in government, Azman said there would be some instability in the market in the short term, but this was expected to improve in the medium to long term.
— New Straits Times

Go Bald more than just a campaign — President
The Go Bald programme by Sarawak Children’s Cancer Society (SCCS) is more than just a campaign to raise awareness of the disease.
— The Borneo Post

Construction stocks most affected by change in government, policies
The construction sector as well as the building materials industry are expected to be the most affected by the change in Malaysia’s government as new initiatives promised by Pakatan Harapan (PH) could interrupt the continuity of major infrastructure projects.
— The Borneo Post

Six reasons why investors should react rationally
GENERALLY, brokerages are predicting that Bursa Malaysia will go on a correction mode due to the change in government when it opens today.
— The Star Online

Malaysia to see short-term volatility in foreign capital investments
Malaysia is likely to see a short-term volatility in movement of foreign capital investments in view of the temporary lack of clarity in the new government’s economic policies and direction.
— The Sun daily

Commentary: Malaysia’s new leadership line-up strengthens Mahathir’s hand
Mahathir Mohamad named three Cabinet ministers and announced the establishment of a Council of Elders on Saturday (May 12), in a move that strengthens his position within the Pakatan Harapan coalition, says one observer.
— Channel NewsAsia

Review of mega projects crucial, timely: Economists
Economists view the review of big-ticket mega projects as timely and crucial in ensuring that Malaysia strikes a better deal as well as being able to curb leakages and wastage from lopsided contracts that may hurt the country’s finances.
— The Sun Daily

Malaysia’s new leader indicates anti-fake news law to stay
New Malaysian Prime Minister Mahathir Mohamad indicated Sunday that his government will keep a controversial law banning fake news that he once slammed as a tool to curb dissent.
— Cache Valley Daily

Malaysia finance minister seen as safe pick as budget risks rise
Malaysia’s new finance minister is seen as a safe pair of hands as he takes on the immense task of bringing down debt while scrapping a consumption tax that was key to Prime Minister Mahathir Mohamad’s unexpected election win last week.
— Business Times

Malaysia political shift may impact Petronas’ management: WoodMac
By law, PETRONAS as Malaysia’s National Oil Company is subject to the control and direction of the Prime Minister.
— Oil Price

FMM, ACCCIM pledge to work with new govt to boost economy
Two major industry bodies, the Federation of Malaysian Manufacturers (FMM) and the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), have expressed their desire to work hand in hand with the new Pakatan Harapan government to come up with policies that both strengthen the economy and promote ease of doing business.
— The Sun Daily

Japanese firms in Malaysia watching Mahathir’s moves
Japanese companies in Malaysia are closely watching the moves of Mahathir Mohamad, who is believed to try to break the country’s dependence on China as he came back as prime minister.
— The Japan News

EPF sees positive outlook after smooth govt transition
The Employees Provident Fund (EPF) remains optimistic of the long-term outlook of the Malaysian economy following the formation of the new government.
— The Borneo Post

Go Bremen Motors Sdn Bhd To Distribute Borgward Cars In Malaysia
GERMAN automotive brand Borgward Group AG has appointed Go Bremen Motors Sdn Bhd (Go Bremen) as its manufacturing and distribution partner for the Malaysian market and other markets in the surrounding region.
— Malaysian Digest

Indian Navy sends warships to Malaysia, Thailand to enhance maritime cooperation
Two warships of the Indian Navy today began a four-day visit to Thailand while another ship has been dispatched to port of Kota Kinabalu in Malaysia as part of growing naval cooperation with the two countries.
— Business Standard

Bain-backed Singaporean firm acquires data centres from Malaysia’s PNB
Singapore-headquartered Bridge Data Centres (Bridge), a Bain Capital Private Equity portfolio company that provides regional data centre services, has acquired two data centres in Malaysia from Permodalan Nasional Berhad (PNB).
— DealStreetAsia

Feature photo Mohd Fazlin Mohd Effendy Ooi

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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.