Malaysia Morning News For November 27

Malaysia bets on durian as China goes bananas for ‘world’s smelliest fruit’
The stinky, spiky durian is set to become Malaysia’s next major export as the South-East Asian nation rushes to develop thousands of acres to cash in on unprecedented demand for the fruit from China.
— The Star Online

Malaysia is Airbnb’s fastest growing market in SEA
Malaysia is Airbnb’s fastest growing market in Southeast Asia, where the country welcomed over 2 million guests in the past 12 months as of July 1, 2018, marking a 99% growth year-on-year.
— The Sun Daily

Malaysia’s Finance Minister Says Crypto Issuance Must Defer to Central Bank
Malaysian Finance Minister Lim Guan Eng has stated that any entity wishing to issue cryptocurrency must defer to the country’s central bank, Bank Negara Malaysia (BNM). The minister’s comments were reported by local English-language daily broadsheet the New Straits Times (NST) Nov. 26.
— Coin Telegraph

Malaysia’s pension infrastructure lacks long-term sustainability, says Mercer
Malaysia’s pension infrastructure earned an overall “C” grade in the recently released Melbourne Mercer Global Pension Index 2018. However, the score of 58.5 was slightly better than last year’s 57.7.
— The Edge Markets

Alibaba to help drive Malaysian agricultural exports
Alibaba Group’s (Alibaba) latest memorandum of understanding (MoU) with local agriculture companies is part of its effort to contribute to the growth of Malaysia’s agricultural exports.
— The Borneo Post

Malaysia’s B10 mandate to use 761,000 tonnes of palm oil
Malaysia’s B10 programme will increase local consumption of palm oil and help reduce surplus in the global market, Primary Industries Minister Teresa Kok said.
— New Straits Times

Progress Energy changes name to reflect Malaysia’s energy commitment to Canada
Six years after its $5.5-billion acquisition by Malaysia ’ s state-owned oil and gas company, Progress Energy is reflecting that ownership in its name.
— JWN

AmBank commended on continued feat in managing cost
AMMB Holdings Bhd (AmBank) has been commended by analysts for the group’s continued feat in managing cost, following the release of its latest financial results.
— The Borneo Post

Sabah mulling permanent ban on log exports
Sabah Chief Minister Datuk Seri Panglima Mohd Shafie Apdal said the state government is mulling a permanent ban on log exports from the current temporary status to ensure sustained growth in timber downstreaming and furniture industry.
— New Straits Times

Controversial rare earths plant in fight for survival in Malaysia
The Lynas rare earths processing plant on Malaysia’s east coast, a major producer of the elements vital for mobile phones and other gadgets, is facing a battle for survival as the country’s new government investigates the facility’s waste management policies and environmental impact.
— Aljazeera

The State of the Nation: Why Malaysia can cope without GST
FINANCE Minister Lim Guan Eng missed his usual Deepavali festive rounds this year as duty came before Malaysia’s good food.
— The Edge Markets

Malaysia sacks state bank chief for covering up Jho Low’s 1MDB role
The Malaysian government on Monday ousted the chairman of a state-owned bank for his role in tampering with the auditor general’s report on the scandal-tainted state fund 1Malaysia Development Berhad.
— Nikkei Asian Review (paywall)

Equinor partners with Global Petro Storage for Malaysia LPG terminal
Norwegian oil and gas firm Equinor has signed an agreement to collaborate with storage and logistics provider Global Petro Storage (GPS) to establish a terminal and storage facility for liquefied petroleum gas (LPG) in Port Klang, Malaysia.
— Hydrocarbons Technology

Navy to hold trilateral maritime drills with Indonesia, Malaysia
Ships from the navies of the Philippines, Indonesia and Malaysia will start a trilateral maritime exercise on Tuesday to better secure common maritime border against piracy and abductions.
— Philstar

TM lowers future dividend payout outlook after Q3 losses
Telekom Malaysia Bhd (TM) today announced a lower dividend distribution policy, starting from the next payout, after the telecommunication company posted its first quarterly net loss in ten years.
— The Star Online

Malaysia plans to start using B-10 biodiesel from Dec. 1
Malaysia will start implementing a so-called B-10 biodiesel program for the transportation sector from Dec. 1 and will expand it to the industrial sector from Jul. 1, 2019, the minister of primary industries said on Monday as the country seeks to cut fuel import bill and boost local consumption of the commodity that is widely used in food-to-cosmetics.
— Nikkei Asian Review (paywall)

Malaysia links airspace issues to Firefly’s Seletar hold-up
Malaysia’s civil aviation regulator appears to be unwilling to approve plans for Firefly to operate from Seletar airport in Singapore due to issues over airspace between the two countries.
— FlightGlobal

Lay Hong makes a loss in Q2, expects egg prices to recover
The weak ringgit is eating into profits at Lay Hong Bhd, but the poultry producer expects higher egg prices in the coming months to lift its performance.
— The Star Online

IJM Corp’s earnings down 80% in Q2
IJM Corp Bhd saw its net profit for the second quarter ended Sept 30, plunge 80.8% to RM21.92 million from RM114.23 million due to weaker earnings posted by the group’s construction, property development, manufacturing & quarrying, plantations and infrastructure divisions.
— The Sun Daily

Sarawak says immigration among ‘non-negotiable’ state rights
The Sarawak Consultative Committee on the Malaysia Agreement 1963 (MA63) said the state’s powers in some matters such as on immigration were non-negotiable.
— FMT

Zeti’s disruptive technology reminder to PNB
Permodalan Nasional Bhd (PNB) should anticipate a disruptive economy ahead which is highly unstable, more complex and interconnected than before to build on its organisational resilience.
— New Straits Times

Chin Hin’s Q3 net profit dips on startup costs
Chin Hin Group Bhd’s net profit for the third quarter ended Sept 30, dipped 0.43% to RM6.04 million from RM6.01 million in the same quarter last year, dragged by the gross losses, and finance cost incurred by its new start-up companies.
— The Sun Daily

Samsung Galaxy A9 pushes the boundaries with rear quad camera
Samsung Electronics Ltd’s latest Galaxy A9 is a smartphone built for those who love to explore, capture the moment and share it as they see it. The pioneering Galaxy A9 debuts the world’s first rear quad camera and is packed with various innovative features.
— The Borneo Post

Tropicana Q3 net profit rises to RM34.15m
Tropicana Corporation Bhd’s net profit for the third quarter (Q3) ended Sept 30, 2018, rose to RM34.15 million from RM30.91 million in the same quarter last year.
— New Straits Times

Malaysia to implement EMR at 145 hospitals nationwide in the next three years
Health Minister Datuk Seri Dr Dzulkefly Ahmad also said in a recent HIMSS TV interview that even if an organisation has a good programme and system in place, digitising healthcare will not succeed if there is no clinical buy-in underpinned by training.
— Healthcare IT News

Pakistan, Malaysia resolve to enhance cooperation in diverse sectors
Pakistan and Malaysia have agreed to promote mutual cooperation and defense ties to further strengthen their relations.
— Radio Pakistan

Wong Tack listed as ‘poorest’ Malaysian MP
While news of Malaysia’s “richest” MPs made headlines, the Malaysian Anti-Corruption Commission (MACC) asset declaration list also shows those who are at the bottom of the pile.
— Asia One

Tiong Nam’s net profit eases to RM2.2m in Q2
Tiong Nam Logistics Holdings Bhd’s net profit fell to RM2.2 million in the second quarter ended Sept 30, 2018 compared with RM12.65 million recorded in the same period last year.
— New Straits Times

Don’t make political comments, Sri Ram tells ex-CJ
A retired judge has taken former chief justice Abdul Hamid Mohamad to task for his statement on the controversy surrounding the International Convention on the Elimination of All Forms of Racial Discrimination (ICERD), saying it is inappropriate for Hamid to comment on political, communal or racial issues.
— FMT

Malaysia breaks UN pledge
Islamists among Malaysia’s Malay-Muslim majority are set to celebrate what most people would consider a setback to human rights at a rally scheduled for Dec. 8.
— La croix

Feature photo Sham Hardy

This week’s Malaysia morning news feature photo acknowledges International Day of Solidarity with the Palestinian People, November 29.

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.