Malaysia Morning News For May 2

Malaysia Morning News For May 2
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Malaysia morning newsMinimum wage hike, S$20.3m grants for Malaysian workers if BN wins polls: PM Najib
Prime Minister Najib Razak announced a slew of promises including an immediate hike in minimum wages, mandatory paternity leave and over RM60 million (S$20.3 million) in grants to Malaysia’s 14-million strong labour force if his Barisan Nasional (BN) coalition is returned to power on May 9.
— The Straits Times

Malaysian elections: Weak opposition, weak coalition
The upcoming 14th General Election (GE14) in Malaysia is poised to be one of the most important and bitterly contested polls since the country gained independence from Britain on Aug. 31, 1957.
— Daily Sabah

Swiss investigate two PetroSaudi officials in 1MDB inquiry
Swiss prosecutors said on Tuesday they were investigating two officials from Saudi energy group PetroSaudi International as part of a wider inquiry into the suspected theft of assets from Malaysia’s 1MDB state fund.
— Reuters

Higher oil prices to divide emerging markets, benefit Malaysia
The recent oil price rally could divide emerging markets (EMs) globally, benefitting large net oil exporters, such as Malaysia, at the expense of oil-importing countries.
— The Malaysian Reserve

Malaysia-Taiwan trade seen growing 10% this year
Trade between Malaysia and Taiwan is expected to grow 10% this year, from US$17.5 billion (RM78.39 billion) in 2017, to be driven mainly by the ICT industry, which is also Taiwan’s featured industry.
— The Sun Daily

Malaysia sees impact from China’s slowdown
The potential US-China trade war which is expected to cause a trade slowdown has caused stress in global equity markets as investors turn wary of whether any of the billion dollar tariffs proposed by both countries might materialise.
— The Borneo Post

Continuous geopolitical risk could push oil price to above US$80 per barrel: Maybank IB
Geopolitical supply risk, including instability in Middle East and unrest in Venezuela, could trigger volatility in the oil market and lead to oil price potentially overshooting above US$80 per barrel, said Maybank Investment Bank (IB) Research.
— New Straits Times

Initial coin offerings – are they worth a look?
The flourishing initial coin offering (ICO) industry seems to have been cast in an unfavourable light in Malaysia, particularly after the ban on Singapore-based CopyCash’s issuance imposed by the Securities Commission Malaysia (SC).
— The Sun Daily

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

Malaysia’s youth holds keys to election success
For followers of Southeast Asian politics, Malaysia’s upcoming general election on May 9 looms as the country’s biggest test since its independence from Britain in 1957.
— Nikkei Asian Review

Additional Support Tipped For Malaysia Shares
Ahead of Tuesday’s Labor Day holiday, the Malaysia stock market has moved higher in back-to-back trading days, gathering almost 20 points or 1 percent along the way. The Kuala Lumpur Composite Index now rests above the 1,870-point plateau, and it may add to its winnings on Wednesday.
— Business Insider

CJ-Arkema announces additional investment of RM 1.2b in Kertih ops
France’s Arkema and South Korea’s CJ CheilJedang (CJ) have announced an additional investment of RM1.2 billion to expand their bio-chemistry platform at Kerteh Biopolymer Park (KBP), barely three years after its startup in 2015.
— New Straits Times

Mahathir Tells Of Plans To Build Another Proton
Former prime minister Dr Mahathir Mohamad has expressed interest in setting up another national car manufacturing company if he can’t have Proton back.
— Malaysian Digest

Uzma’s earnings outlook to remain sturdy, led by RM1.4b orderbook: PublicInvest
Uzma Bhd’s earnings outlook is expected to remain sturdy following the company’s recent two-year umbrella contract win from Petronas Carigali Sdn Bhd (PCSB) and its RM1.4 billion confirmed orderbook, said Public Investment Bank Bhd (PublicInvest).
— New Straits Times

‘Major disappointment’ if BN can’t wrest Kelantan from PAS: Minister
The affable Mustapa Mohamed, chairman of the ruling coalition Barisan Nasional (BN) in Kelantan apologised to reporters after an interview in the BN office in Kota Bharu on Tuesday (May 1).
— Channel NewsAsia

AirAsia X to start Amritsar-Kuala Lumpur flight
The AirAsia X today said it will start direct flight services between Amritsar and Kuala Lumpur as part of its expansion plan in India this year.
— Business World

2018 to be a better year for Perdana Petroleum
The year ahead is slated to be better for Perdana Petroleum Bhd, buoyed by the price of crude oil which is hovering above the US$60 per barrel mark.
— The Borneo Post

Malaysian firm tapped to build Pampanga landfill
One of Malaysia’s largest conglomerates is building and operating a P1.2-billion sanitary landfill on a 91-hectare private lot here.

Custom-made furniture specialist Daeshin Trading opens first Malaysia outlet
Customers who are looking for furniture that have been designed to suit their home space and style needs can now drop by Daeshin Trading (M) Sdn Bhd at Saradise Kuching.
— The Borneo Post

UNHCR thanks Indonesia and Malaysia for rescue and disembarkation of Rohingya refugees, calls on countries in the region to comply with maritime search and rescue obligations
UNHCR, the UN refugee agency, is grateful to Indonesian and Malaysian authorities for rescuing and disembarking three boats carrying a total of 140 Rohingya refugees who fled Myanmar by sea in April.

The problem with plastic
From humble beginnings in Birmingham, England, in 1856, plastic has become a mainstay of modern life.
— New Straits Times


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.


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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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