Malaysia Morning News For May 29

Malaysian PM Mahathir claims fraud in general election vote count
Malaysian Prime Minister Mahathir Mohamad on Monday (May 28) alleged that there were elements of fraud during the 14th general election, claiming that some Pakatan Harapan candidates lost due to a large number of spoilt votes.
— Channel NewsAsia

Malaysia Scraps Multibillion-Dollar High-Speed Rail Project to Singapore
Malaysia’s Prime Minister Mahathir Mohamad said he will cancel a proposed multibillion-dollar high-speed railway link to Singapore, as the new leader who returned to power in a surprise election upset this month seeks to rein in expenditure.
— Bloomberg

Malaysia Prepares Nationwide Ban Of Plastic Bags
The Malaysian government plans to introduce a nationwide ban of plastic bags within a year, preceded by an awareness campaign to “educate” the population why such a ban is useful and necessary, new housing and local government minister Zuraida Kamaruddin told news portal MalaysiaKini in an interview published on May 28.
— Investvine

Malaysia assures full report on MH370 will be ‘published openly and transparently’
The Malaysia government on Monday (May 28) gave assurance that the full report on the search for the ill-fated flight MH370 will be made public in a detailed and transparent manner.
— Channel NewsAsia

Petronas successfully sells first LNG cargo through an online trading platform GLX
Petroliam Nasional Bhd (Petronas) through its subsidiary, Petronas LNG Ltd (PLL) achieved another significant milestone by selling its liquefied natural gas (LNG) cargo for the first time through an online trading platform, GLX.
— The Borneo Post

New Malaysian government will continue to ensure civil rights of all races: PM Mahathir
Malaysian Prime Minister Dr Mahathir Mohamad said on Monday (May 28) that despite the changes in the country’s administration, the new government will continue to protect and uphold the federal constitution and ensure the civil rights and liberties of all races.
— Channel NewsAsia

Malaysia’s new deputy PM aims to be a role model for women
Wan Azizah Wan Ismail’s childhood ambition was to become a doctor and cure disease. Now that she is Malaysia’s most powerful female politician, she says her mission is to improve women’s rights.
— Reuters

Mahathir Mohamad charts new democratic path for Malaysia
Mahathir Mohamad says he is in a hurry to restore genuine democracy to Malaysia after leading the opposition to a historic election victory this month.
— Financial Times

Malaysia makes record bust of crystal meth, shipped from Myanmar
Malaysia has made its largest ever seizure of crystal methamphetamine, officials said on Monday (May 28), finding nearly 1.2 tonnes of the drug disguised as tea in a shipment from Myanmar, and arrested six suspected traffickers.
— Channel NewsAsia

Malaysia cheapest place in the world to employ expats – survey
Malaysia is the cheapest place in the world to employ expatriates.
— New Straits Times

Malaysia’s Maybank posts highest-ever first-quarter profit
Malayan Banking (Maybank), Malaysia’s largest lender, posted its highest ever first-quarter profit, helped by a drop in expenses and continued decline in impairment losses.
— Daily Times

Malaysia’s Berjaya unit may lose US$10mil in Vietnam’s biggest fraud case ruling
A Vietnamese court is set to make a key ruling in the country’s biggest-ever fraud case, in a trial that has spotlighted Vietnam’s ability to tackle financial crime at a time when foreign banks are heeding government calls to invest.
— The Star Online

Bursa Malaysia trading at healthy level, says EPF CEO
Trading in Bursa Malaysia remains at a healthy level despite a recent heavy selldown, said Employees Provident Fund (EPF) chief executive officer Datuk Shahril Ridza Ridzuan.
— The Borneo Post

Malaysia Airports Q1 net profit surges to RM444.6m
Malaysia Airports Holdings Bhd (MAHB) saw its net profit surge to RM444.59mil in the first quarter ended March 31, 2018, boosted by the unrealised gan from the sale of its investment in an Indian airport.
— The Star Online

Aviation industry to grow 6.5 to 7 per cent
The Malaysian Aviation Commission (MAVCOM) is optimistic of continued positive industry performance in 2018 and expects a growth of 6.5 to seven per cent, which will see Malaysia surpassing the 100 million passenger mark for the first time.
— The Borneo Post

Central Industrial sees better earnings ahead
Sticky tape manufacturer Central Industrial Corp Bhd (CIC), which is seeking a controlling stake in contractor Proventus Bina Sdn Bhd (PBSB), sees better revenue and profit contribution ahead.
— New Straits Times

Mi Equipment plans to raise RM190.89 million via IPO
Mi Equipment Holdings Bhd, a wafer-level chip-scale packaging manufacturer, aims to raise RM190.89 million from its initial public offering (IPO) exercise, says group chief executive officer and executive director Oh Kuang Eng.
— The Borneo Post

Malaysian forest firm Jawala aims to raise $3.36m in SGX-listing
Malaysia-based sustainable forest resource company Jawala Inc and its subsidiary has launched its initial public offering on the Singapore Exchange Securities Trading Limited, aiming to raise $4.5 million ($3.36 million).
— DealStreetAsia

Think City partners UN-Habitat aimed at bettering cities in Malaysia
Think City Sdn Bhd is partnering with UN-Habitat to initiate a strategic partnership to advocate and promote the New Urban Agenda (NUA) and the United Nation’s Sustainable Development Goals (SDG), which aims to make cities and human settlements inclusive, safe, resilient and sustainable.
— New Straits Times

Muda unit buys food wrapping manufacturer for RM2.38m
Muda Holdings Bhd’s 70% owned subsidiary Intrapac (Singapore) Pte Ltd has acquired 85% equity interest in food wrapping manufacturer Lonsing Packaging Industries Pte Ltd for SG$807,500.00 (RM2.38 million).
— The Sun Daily

Boosting cottage businesses at Malaysia airports
Malaysia Airports has collaborated with the Malaysian Design Development Centre (DDEC) and e-wallet service provider Boost to bring the local cottage industry to airports in Malaysia.
— New Straits Times

Adorable baby panda makes her public debut at Malaysia Zoo
A BABY female panda born five months ago in Malaysia has made her public debut and, in a world full of increasingly bad news, she’s the cutest thing you’ll see today.
— News

Feature photo Mohd Fazlin Mohd Effendy Ooi

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.