Malaysia Morning News For May 25

Malaysia Morning News For May 25

Malaysia morning newsWho’s Who at The New Phnom Penh Post: Propaganda, $5mln, & a Bogus ‘Malaysia Boleh’ Record
Throughout its 26 year history The Phnom Penh Post has had only two owners, founders Michael Hayes and Kathleen O’Keefe, and more recently Australian extractive industries magnate Bill Clough.
— AEC News Today

Malaysia’s 1MDB task force meets US Department of Justice and FBI officers
Malaysia’s special task force set up to look into the funds misappropriation scandal at state fund 1Malaysia Development Berhad (1MDB) has met officers from the US Department of Justice (DOJ) and the Federal Bureau of Investigation.
— The Straits Times

Malaysia’s Najib Razak faces second graft grilling and public ire over chocolate theft claims
Najib Razak, Malaysia’s ousted prime minister, is facing investigators on Thursday to be grilled for a second time in a week over a financial scandal involving a state-owned investment fund.
— The Telegraph

Australian grandma sentenced to death for drugs in Malaysia
An Australian grandmother who said she was tricked into carrying drugs into Malaysia after falling for an online romance scam was sentenced to death after an earlier acquittal was overturned, her lawyer said.
— The Star Online

Mahathir and the future direction of Islam in Malaysia
Public outrage over the 1MDB scandal and other alleged instances of abuse of power has been widely cited as having contributed to the downfall of the Najib Razak government in the general election.
— The Straits Times

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Malaysia needs tactful handling of 1MDB mess
MALAYSIA’s new finance minister is taking a sledgehammer to 1MDB. A less blunt tool would do the job just as well, probably better.
— The Star Online

China looking forward to working with new Malaysian government
China is looking forward to working with the new Malaysian government, to advance cooperation and strive for “common prosperity and development”, Chinese Ambassador to Malaysia Bai Tian said in a statement on Thursday (May 24).
— Channnel NewsAsia

Lasting lessons from Malaysia for SE Asia
Some have likened it to an “earthquake,” while others have called it a “tsunami.” However it is billed, Malaysia’s election outcome still reverberates far and wide.
— Bangkok Post

VOA Interview: Mahathir says Malaysia Suffering from Financial ‘Destruction’
Malaysia’s Prime Minister Mahathir Mohamad, back in power after a 15-year hiatus, says his first 20 years in office were “fairly easy” compared to what is confronting him now — massive debt in a country with an international reputation for corruption.
— Tolerance

Financial industry must set standards digital revolution
There will be an increasing need for financial industry players to come together and set the standards for novel areas of practice to cater for the digital revolution, Bank Negara Malaysia (BNM) said.
— The Borneo Post

It is one of the most sought-after branded handbags in the world – favoured by actresses, pop stars and now, the former ‘first lady’ of Malaysia.
— South China Morning Post

Investigators: Russian military missile downed Malaysia Airlines flight
Detailed analysis of video and photos has unequivocally established that the Buk missile that brought down Malaysia Airlines Flight MH17 over eastern Ukraine nearly four years ago came from a Russia-based military unit, an international team of investigators said Thursday.
— Sfgate

Genting Malaysia’s profit boosted by new facilities, attractions
Genting Malaysia Bhd recorded a 15.8 per cent improvement in first-quarter (Q1) net profit to RM342.07 million compared with a year earlier following the opening of new facilities and attractions at Resorts World Genting (RWG) under its 10-year master plan.
— New Straits Times

Bank Negara raids company fronting as bank
Bank Negara Malaysia raided Axios Group Sdn Bhd in Cheras on Thursday for suspected to be using the word “bank” in their office premise signage and websites without approval.
— The Star Online

Abg Johari grateful to Anwar
Chief Minister Datuk Patinggi Abang Johari Tun Openg extends his appreciation to advisor of Pakatan Harapan (PH) government Datuk Seri Anwar Ibrahim for pledging to keep the promise of restoring Sarawak’s rights within the context of Malaysia Agreement 1963 (MA63).
— The Borneo Post

MPB records significant increase in earnings from digital revenue
Media Prima Bhd (MPB) recorded a significant increase in digital advertising revenue, digital content and commerce revenue for the three months ended March 31, 2018.
— New Straits Times

Celcom expects a more ‘sustainable’ Q2
Celcom Axiata Bhd expects earnings to be more “sustainable” in the second quarter (Q2 2018) this year, without the one-offs that were incurred in the first quarter (Q1 2018), said its CFO Jennifer Wong.
— The Sun Daily

YTL Corp Q3 net profit falls to RM298.15m
YTL Corporation Bhd (YTL Corp) reported a lower net profit of RM298.15 million in the third quarter (Q3) ended March 31, 2018 compared with RM439.19 million recorded in the previous corresponding period.
— New Straits Times

Guan Eng: National liabilities total RM1.087 trillion, 80.3% of GDP
Finance Minister Lim Guan Eng today provided the breakdown of Malaysia’s national liabilities of RM1.087 trillion, equivalent to a whopping 80.3% of gross domestic product (GDP) as at end-December, 2017.
— The Sun Daily

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Petron’s net profit eases to RM72.12m in Q1
Petron Malaysia Refining & Marketing Bhd’s net profit eased to RM72.12 million in the first quarter ended March 31, 2018 compared with RM108.53 million recorded in the same period last year.
— New Straits Times

Malaysia Digest: GrabFood lands in KL; Media Prima eyes acquisitions and JVs
Ride-hailing major Grab is launching its food delivery platform in Malaysia while media group Media Prima Bhd is looking out for acquisitions, joint ventures and/or strategic partnerships.
— DealStreetAsia

Kossan net profit eases to RM45.29m in Q1
Kossan Rubber Industries Bhd’s net profit eased to RM45.29 million in the first quarter ended March 31, 2018 from RM47.25 million recorded in the same period last year.
— New Straits Times

AEON allocates RM400 million capex this year
AEON Co (M) Bhd is allocating up to RM400 million in capital expenditure (capex) this year, slightly lower than RM500 million last year, said executive director Poh Ying Loo.
— The Borneo Post

7-Eleven first quarter earnings jump 11.6%
7-Eleven Malaysia Holdings Bhd saw a 11.6% jump in its net profit for the first quarter ended March 31 to RM8.9 million from RM8 million recorded in the same quarter a year ago, on the back of increased revenue as well as due to the improvement in gross margin and other operating income.
— The Sun Daily


Feature photo Michael Coghlan


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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