Malaysia Morning News For November 30

RM40.6b projects approved between May-Sept: MITI
Malaysia’s business investments remained resilient in the face of a trade war between the US and China, said Minister of International Trade and Industry (MITI) Datuk Darell Leiking.
— New Straits Times

Departure levy will hurt Malaysia’s tourism industry, says expert
The implementation of the departure levy on all passengers departing Malaysian airports is expected to affect tourist arrivals.
— FMT

Malaysia’s AirAsia Group Q3 operating profit halves as fuel costs bite
AirAsia Group Bhd’s quarterly operating profit halved as higher fuel costs hurt the Malaysian flagship budget carrier.
— Channel NewsAsia

Malaysia death penalty abolition opens door to drug policy review
Drugs have long attracted the harshest penalties here.
— Aljazeera

Malaysia’s October headline inflation grew in line with consensus estimate: Kenanga
Malaysia’s headline inflation is expected to taper off for the remaining two months of the year, analysts said.
— New Straits Times

Malaysia’s top banks flag tough times ahead
Malaysia’s top two banks Thursday flagged challenging business conditions as growth crimps in most of their key markets squeezing net interest income and other operating revenue.
— Nikkei Asian Review (paywall)

CIMB Group posts record profit in first nine months
CIMB Group Holdings Bhd posted a record net profit of RM4.47 billion for the nine months ended September 30 2018.
— New Straits Times

Petronas, Vitol Asia ink LNG supply deal
Petronas, through its subsidiary, Petronas LNG Ltd (PLL), signed a binding heads of agreement on Oct 1, 2018, with Singapore-based Vitol Asia Pte Ltd for a long-term liquefied natural gas (LNG) supply deal.
— New Straits Times

Maybank sees marginally lower net profit for Q3
Malayan Banking Bhd posted marginally lower net profit for the third quarter ended Sept 30, 2018 of RM1.96 billion, compared with RM2.03 billion in the corresponding quarter in 2017, on lower net operating income, higher allowances for impairment losses on loans, advances, financing and other debts and lower share of profits in associates and joint ventures .
— The Sun Daily

Building houses of worship in Malaysia may require permit in future
The Malaysian government will pass a resolution that would make it compulsory for a permit to be obtained before houses of worship are built.
— Channel NewsAsia

Malaysia’s EPF sets new minimum savings for employees at age 55
The quantum for basic savings members should have upon reaching age 55 will be revised from the current RM228,000 to RM240,000 effective 1 January 2019, as announced by Malaysia’s Employees Provident Fund (EPF, also known as KWSP – Kumpulan Wang Simpanan Pekerja).
— Human Resource Online

Malaysian govt will not compromise on security in Sabah, Sarawak
The Malaysian government will not compromise on the question of security in Sabah and Sarawak although it is on a cost-saving exercise, Deputy Home Minister Datuk Mohd Azis Jamman said.
— Borneo Bulletin

One City: We respect Malaysian law, want ‘appropriate’ resolution to temple issue
One City Development Sdn Bhd today expressed regret and sadness over “events that have unfolded” in the move to relocate the Seafield Sri Maha Mariamman Temple in Subang Jaya.
— FMT

Berjaya Sompo awarded BrandLaureate Industry Champion Brand ICON Award
Berjaya Sompo Insurance Bhd bagged its first win at the BrandLaureate Brand ICON Leadership Awards 2018 yesterday, during which it was honoured with the BrandLaureate Industry Champion Brand ICON Award.
— The Sun Daily

Affin Bank gives away prizes to ‘Scootvaganza’ campaign winners
Affin Bank Bhd today presented prizes worth RM100,000 to its “Scootvaganza” campaign winners during a prize presentation ceremony at the Naza Automall here.
— New Straits Times

CMSB acquires controlling stake in granite quarry operator for RM31m
Cahya Mata Sarawak Bhd (CMSB) unit CMS Resources Sdn Bhd (CMSR) is acquiring 56 million ordinary shares or 56 per cent stake in Borneo Granite Sdn Bhd (BGSB) from Kasuma Resort Sdn Bhd for RM31 million.
— New Straits Times

DRB-Hicom posts RM11.42m net loss in Q2
DRB-Hicom Bhd posted a net loss of RM11.42 million in the second quarter ended Sept 30, 2018, from a net profit of RM742.6 million in the previous corresponding quarter mainly due to lower performance of the automotive and services sectors.
— The Sun Daily

China’s Zhejiang XSD plans RM1.2b green paper industry park in Kulim
China-based Zhejiang XSD Holding Group Co Ltd plans to develop a green paper industry park in Malaysia, which is expected to bring in investments amounting to RM1.2 billion.
— The Sun Daily

Sapura Energy in talks for partnership in drilling business
Sapura Energy Bhd is in talks with several international firms for a potential strategic partnership or disposal of part of its drilling business, said president and group CEO Tan Sri Shahril Shamsuddin.
— The Sun Daily

7 feuds you should know about in Malaysia
If there is something that gets Malaysians buzzing on social media, it usually involves topics about the local political scene, a must-try dish at a new café or restaurant, a new holiday destination and of course topics which involve elements of controversy.
— Malay Mail

Malaysia state fund to sell $2bn stake in IHH Healthcare to Mitsui
Malaysian sovereign wealth fund Khazanah Nasional agreed on Thursday to sell a slice of its controlling stake in IHH Healthcare, the largest hospital operator in Asia, to Japan’s Mitsui & Co for 8.42 billion ringgit ($2 billion).
— Nikkei Asian Review (paywall)

Malaysia shows interest in Pakistan’s JF-17 fighter
Malaysia has shown keen interest in Pakistani warplane “JF-17 Thunder” at Defense exhibition IDEAS 2018 that is underway in Karachi.
— The News

Malaysia to go slow on labour MoU
Malaysia says it will go slow on signing an MoU with other countries on foreign labour until the issue involving illegal foreign workers is resolved.
— The Star Online

Military group yet to respond to invitations to join Malaysia-led peace talks
The armed wing of Barisan Revolusi Nasional (BRN) has yet to respond to invitations for them to participate in the southern Thai peace process.
— Borneo Bulletin

Malaysia plans to establish National Tahfiz Council next year
The Malaysian government plans to set up a National Tahfiz Council early next year in an effort to coordinate private Tahfiz schools, said Deputy Minister in the Prime Minister’s Department Fuziah Salleh.
— Borneo Bulletin

Huawei and edotco getting Malaysia 5G-ready
edotco Malaysia Sdn Bhd and Huawei Technologies (Malaysia) Sdn Bhd has showed proof-of-concept of its digital solution to raise data coverage and throughput speed to be 5G-ready from the current 4G technology.
— New Straits Times

World report: Malaysia facing ‘triple burden’ in tackling malnutrition
Malaysia is facing the “triple burden” of tackling three aspects of malnutrition — obesity, anaemia and stunting — according to a report on global nutrition released today.
— FMT

Malaysian Fifa official resigns following graft probe
Fifa’s ethics committee member Sundra Rajoo resigned yesterday, one week after being suspended from his post following an investigation by an anti-corruption unit in his native Malaysia, the global soccer body said.
— Malay Mail

Which dish topped fast-food orders in Singapore, Malaysia and Indonesia in 2018?
Various styles of fried chicken are ranked as the No 1 choice in all three Asian nations, with bubble tea the favourite drink, GrabFood delivery service says.
— South China Morning Post

Malaysia delighted with theme chosen by Thailand for Asean chairmanship: Saifuddin
Malaysia is delighted with the theme chosen by Thailand for its Asean chairmanship next year – ‘Advancing Partnership for Sustainability’ – as it is in line with Malaysia’s drive to achieve the United Nations’ Sustainable Development Goals (SDGs) 2030 Agenda.
— The Sun Daily

MyEG incurs net loss of RM97.5m for July-Sept quarter
MY E.G. Services Bhd (MyEG) posted a net loss of RM97.47 million for the three-month period to Sept 30, 2018, against a net profit of RM56.11 million in the preceding quarter.
— New Straits Times

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.