Malaysia Morning News For November 12

Malaysia influences SEA to introduce the digital tax
Malaysia is officially the second country in Southeast Asia (SEA) to introduce a Digital Tax which could apply to both local and international players.
— The Borneo Post

Malaysia must become tech producer, says Dr Mahathir
PRIME Minister Dr Mahathir Mohamad wants Malaysia to explore and embrace new technologies so it can have its own drone and artificial intelligence industry.
— Malaysian Insight

Petronas stresses strong financial profile after outlook lowered
Petroliam Nasional Bhd (Petronas) emphasises its declaration of dividends and also future dividends to the government will not impact its on-going operations due to its strong financial profile.
— The Star Online

Sugar tax won’t sour F&N’s ratings: RAM
The excise duty on sweetened beverages will not have an immediate impact on Fraser & Neave Holdings Bhd’s (F&N) ratings although it is a negative development for the group.
— The Sun Daily

Malaysia Airlines offers up to 30pct discount for Double 11 and Year End Deals
National carrier Malaysia Airlines will be offering up to 30 per cent discount for its Double 11 and Year End Deals!
— New Straits Times

Malaysian companies rake in RM86m sales at China Import Expo, says ministry
Malaysia companies recorded total sales worth US$20.50 million (RM86.03 million) during their first participation in the 1st China International Import Expo (CIIE).
— Malay Mail

China should make Malaysia main investment destination
China should see Malaysia as the main investment and trade destination, in line with the change of the latter’s administration which saw a more transparent government.
— New Straits Times

September industrial output up 2.3% year-on-year
Malaysia’s industrial production index (IPI) increased by 2.3% in September 2018 as compared with the same month of the previous year, according to Statistics Department.
— The Sun Daily

Sapura Energy expects to be profitable by FY20
Sapura Energy Bhd is upbeat about returning to the black in the financial year ending January 31, 2020 fuelled by increasing orderbook, reduction in annual interest debt and higher oil and gas (O&G) production.
— New Straits Times

Malaysian Armed Forces Boosts Air Defence Capabilities with Thales
Together with its Malaysian partner, Global Komited, a member of the Weststar Group, Thales announces that the ForceSHIELD Ground-Based Air Defence system project has reached its final milestone with Full System Acceptance (FSA) occurring on October 2018.
— AEC News Today/ PR Newswire (media release)

Govt welcomes feedback on affordable house crowdfunding scheme
Tony Pua, political secretary to Finance Minister, has assured the public that FundMyHome will not have a monopoly over the newly-proposed peer-to-peer (P2P) home financing scheme.
— New Straits Times

‘New Malaysia’ but same old mentality against Shias, other Muslims, says activist
Vocal Muslim activist Dr Ahmad Farouk Musa says Muslim bureaucrats in post-Barisan Nasional Malaysia have still not changed their ways, as they continue to demonise and clamp down on religious minorities, especially those from the Shia school of thought which is labelled “deviant” by local Islamic authorities.
— FMT

2019 Budget set to restructure Malaysia’s fiscal position – Franklin Templeton
The 2019 Budget is set to restructure Malaysia’s fiscal position through implementation of tough measures aimed at narrowing the fiscal deficit, while remaining focused on the need to accelerate economic growth and improve the well-being of the people.
— New Straits Times

Tech-driving growth in Sarawak’s agriculture
Agriculture remains a key frontier industry for Sarawak, as examplified by two major events — the Sarawak Agrofest 2018 and International Conference on Agriculture and Agro-based Industry Sarawak 2018 (ICAAS 2018), which are related to the development of agriculture in the state — being held last month.
— The Borneo Post

Malaysia-Japan ties on strongest ever footing
Three visits by Prime Minister Dr Mahathir Mohamad to Japan in just five months have placed Malaysia-Japan ties at their strongest footing ever, much to the delight of the peoples of both countries.
— Malaysiankini

Great Eastern confirms it will contribute RM2 billion to B40 health insurance scheme
Great Eastern Holdings Ltd (GEH) told the Singapore Exchange on Friday that it will contribute RM2 billion as seed funding for the Malaysian government’s pilot B40 Health Protection Fund to provide free protection against top four critical illness starting Jan 1, 2019.
— The Sun Daily

New Malaysia’s Message to the World Intensified for 2019 Budget Announcement and US Mid-Term Elections
The global “Malaysia: Bouncing Back even Better than Before” communications campaign, launched last September by ISC Innovators to help communicate to the world Malaysia’s resolve to put the country back on track after the country’s recent historic General Election triumph, has received greater visibility to coincide with the 2019 Budget Announcement last Friday as well as the US Mid-Term Elections this week.
— AEC News Today/ PR Newswire (media release)

AirAsia X considering switching part of Airbus order to narrow-body jets
AirAsia X Bhd, which has yet to firm up a tentative order for 34 Airbus SE A330neo widebody jets placed in July, is considering switching some of those jets to narrowbody A321neos, the CEO of its Malaysian arm said on Friday.
— The Star Online

Singles’ Day Sale payment woes leave shoppers angry, frustrated
Many Malaysian shoppers who waited for midnight to arrive to enjoy huge discounts offered by online shopping websites were left disappointed after they faced issues when paying for their items purchased.
— FMT

Kedah tables 2019 budget with projected RM57 mil deficit
The Pakatan Harapan-led administration in Kedah today tabled the state Budget 2019 with a projected deficit of 8.14% compared with 10.19% in 2018.
— FMT

Nextgreen, Nomura and IHI Corporation to explore Green Technology partnership
Nextgreen Global Bhd (Nextgreen), Nomura Holdings, Inc (Nomura) and IHI Corporation (IHI) yesterday entered into a Memorandum of Understanding (MoU) to explore collaboration and investment for Green Technology Park in Pahang (GTPP), Malaysia.
— The Borneo Post

Nextgreen, Nomura and IHI Corporation to explore Green Technology partnership
Nextgreen Global Bhd (Nextgreen), Nomura Holdings, Inc (Nomura) and IHI Corporation (IHI) yesterday entered into a Memorandum of Understanding (MoU) to explore collaboration and investment for Green Technology Park in Pahang (GTPP), Malaysia.
— The Borneo Post

FT Ministry mulls Kuraman Island tourism mega project
The Ministry of Federal Territories is considering the proposed RM8 billion tourism mega project off Kuraman Island Marine Park, taking into consideration its economic benefits to Labuan.
— Malay Mail

Education Ministry to attract foreign universities to Pagoh Education Hub
The Ministry of Education (MOE) will intensify efforts to attract more foreign universities to establish branch campuses at the Pagoh Higher Education Hub (HPTP) here, in line with the government’s aspiration to make Pagoh a regional education hub.
— Malay Mail

Why the FundMyHome ‘property crowdfunding’ scheme is bad news
The Agora Society has been closely following the Pakatan Harapan government’s commitment to provide affordable housing options to all and is deeply concerned about the recently announced, government-backed P2P financing scheme “FundMyHome” (described as a “property crowdfunding” platform in Budget 2019).
— FMT

Flash floods hit the capital following heavy downpour
Almost two hours of heavy downpour in the capital today caused several areas and roads to be affected by flash floods.
— Malay Mail

Social media users vent fury over infant’s cruel death
The death of an 11-month-old baby, believed to have been abused and raped by her caretaker’s husband, has sparked outrage among social media users nationwide.
— FMT

New mechanism to help divorced women
The government will introduce a new mechanism to help women who were oppressed from getting alimony after divorce, said Minister in the Prime Minister’s Department, Datuk Dr Mujahid Yusof Rawa.
— New Straits Times

Feature photo National Diabetes Institution

This week’s Malaysia morning news feature photo acknowledges World Diabetes Day, November 14.

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.