Malaysia Morning News For October 18

Malaysia improves its spot in WEF global competitiveness ranking
Malaysia rose one spot to 25th, out of 140 countries, with a score of 74.4 in the World Economic Forum’s (WEF) 2018 Global Competitiveness Report.
— New Straits Times

Malaysia’s biodiesel output, exports set to hit records
Malaysian biodiesel production is likely to hit record levels this year and next, with 2018 exports on track to double from 2017, pushed up as higher oil prices boost the appeal of biofuels, the head of an industry association said on Wednesday.
— The Star Online

Najib to face more 1MDB charges, says MACC
Former prime minister Najib Razak is expected to face more 1MDB-related charges soon, according to a source from the Malaysian Anti-Corruption Commission (MACC) who declined to elaborate on the matter.
— FMT

Proposal to restrict Malaysia airport transit period to 72 hours
A proposal has been made to restrict the transit period for passengers at the international zones of the Kuala Lumpur International Airport (KLIA) and Kuala Lumpur International Airport 2 (KLIA2) to 72 hours to prevent foreigners from making the area their “home”.
— Channel NewsAsia

14 proposals received on new national car – MITI
The Ministry of International Trade and Industry (MITI) has received 14 proposals on the new national car from the private sector and individuals.
— New Straits Times

Malaysia makes outstanding progress in reducing extreme monetary poverty
Malaysia has made outstanding progress in reducing extreme monetary poverty, with merely less than one per cent of Malaysian households living below the national poverty line, says the World Bank.
— The Edge Markets

Banking sector needs to be more aware of financial crimes
The banking sector needs to be more alert to financial crimes, as banks are the first level in identifying crimes that occur in the financial institutions, said Al-Rajhi Bank chief compliance officer V Maslamani.
— The Borneo Post

Malaysia keeps CPO export tax at zero
Malaysia is keeping its export tax on crude palm oil (CPO) at 0% for November, the third consecutive month, in a bid to tackle growing stockpiles in the country.
— IEGVU

Gas Malaysia-Tokyo Gas JV commissions gas engine plant
Gas Malaysia Bhd announced today the successful commissioning of its second gas engine co-generation plant operated with its joint venture partner Tokyo Gas Engineering Solutions Corp.
— The Edge Markets

LRT3 to proceed on new terms, RM16.6bil budget
The Light Rail Transit Line 3 (LRT3) project has received the Government’s greenlight to continue at a total project cost of RM16.6bil, according to separate filings by Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd after the market closed on Wednesday.
— The Star Online

KPS secures RM162.5 million Air Selangor water chemical supply contract
Diversified group Kumpulan Perangsang Selangor Bhd, via subsidiary Aqua-Flo Sdn Bhd, has bagged a RM162.5 million open tender contract from Pengurusan Air Selangor Sdn Bhd (Air Selangor) to supply and deliver chemicals.
— New Straits Times

Report: Malaysia among 21 countries tarred by OECD for enabling tax dodgers
The Organisation for Economic Cooperation and Development (OECD) has flagged Malaysia as among 21 nations offering easy citizenship or residency that allegedly fuelled the global tax evasion menace.
— Malay Mail

EU palm oil expert panel to visit Malaysia end of October
The European Commission’s (EC) palm oil expert panel will make its first visit to Malaysia at the end of this month to address concerns over the sustainability of the palm oil industry.
— Malay Mail

Malaysia taxi drivers protest government’s reported collaboration with Grab
More than 100 taxi drivers protested outside the Ministry of Finance in Putrajaya on Wednesday (Oct 17) after it was reported that the government may work with ride-hailing firm Grab to provide transport services at MRT stations.
— Channel NewsAsia

Malaysia to enact scrap import tax and restrictions
Scrap plastic shipments to Malaysia will be subject to new restrictions in the coming weeks, as the country follows through on its vow to get a handle on skyrocketing imports.
— Resource Recycling

Why does the Malay mindset need changing?
On Oct 13, Tajuddin Rasdi wrote about what he called “the failure” of “(Malay) intellectuals in changing the Malay mindset”, expressing his disappointment about a forum on the subject of “how to change the Malay mindset in the new Malaysia”.
— FMT

Malaysia: activists welcome bills to abolish colonial-era laws with cautious optimism
Bills to abolish the death penalty and the Sedition Act, two of Malaysia’s archaic colonial-era laws, are expected to be tabled at the current sitting of parliament, which commenced this week in Kuala Lumpur. Human rights activists have welcomed the move but remain wary of sudden political u-turns.
— Southeast Asia Globe

IGEM 2018 Unveiled, To Drive Region’s Green Economy
The 9th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM), the region’s most successful green technology, business and innovation platforms in ASEAN, themed ‘Green Economy & Industry 4.0: Achieving Sustainable Development Goals’ in line with the United Nations’ sustainability blueprint, was officiated today by the Minister of Energy, Science, Technology, Environment & Climate Change, YB Yeo Bee Yin.
— AEC News Today/PR Newswire (media release)

Malaysia will be the first to get Huawei Mate 20 series
Get your cash ready people – the Huawei Mate 20 range is coming your way real soon.
— The Star Online

Malaysia’s fiscal health not conducive for ‘crooked bridge’: Azmin Ali
Malaysian Economic Affairs Minister Mohamed Azmin Ali said on Wednesday (Oct 17) that the country’s current economic situation is not conducive for reviving the so-called “crooked bridge” project linking Johor and Singapore.
— Channel NewsAsia

Malaysia softens stance on ownership cap for foreign insurers
Malaysia’s new government has reopened discussions about allowing foreign insurance companies to maintain full ownership of domestic insurers.
— Financial Times

Nissan, Isuzu top J.D Power’s sales satisfaction index in Malaysia
An increasing number of vehicle buyers are relying on online sources, such as manufacturers or third-party websites and dealers’ social media pages, for information on vehicle specifications and dealership offers, according to the J.D. Power 2018 Malaysia Sales Satisfaction Index (Mass Market) Study.
— New Straits Times

Press Metal seeks to secure alumina supply in RM739mil deal
Press Metal Aluminium Bhd is buying a 50% stake in a company that holds a 10% interest in the Worsley Alumina project, as the local smelter seeks to secure long term access to the key raw material.
— The Star Online

Digi.com sees higher earnings in Q3, proposes 5 sen dividend
Digi.com Bhd reported a 2.1% rise in net profit to RM392.54 million for the third quarter ended Sept 30 against RM384.62 million in the previous corresponding period, underpinned by higher data consumption and lower depreciation and amortisation.
— The Sun Daily

UEM Sunrise launches Residency Astrea
Property developer UEM Sunrise Bhd plans to launch new projects worth a total of RM665 million in the next six months as it is bullish on the market.
— New Straits Times

Exchange 106 – low occupancy ‘worrying’
The committed occupancy of Exchange 106 Tower at TRX has fallen drastically to 10%, which is a concern amidst a subdued office market, said UOB Kay Hian.
— The Sun Daily

Sabah to boost industrial sector’s contribution
Sabah aims to increase the contribution of its industrial sector to the state’s Gross Domestic Product (GDP) to 35 per cent in 20 years from 7.5 per cent currently.
— The Borneo Post

Top Glove to improve on Aspion’s profits
Top Glove Corporation Bhd, the world’s largest rubber glove manufacturer, aims to improve the profit of its newly-acquired Aspion Sdn Bhd, in the next five years.
— New Straits Times

ABB: Global energy industry moving towards
The global power industry is moving towards digitalisation in order to meet the growing energy supply needs of the world’s population in a sustainable manner.
— The Borneo Post

The need for an inclusive Malaysian history project
AN inclusive history, a truthful, unbiased and balanced historical narrative that encompasses all the facets of Malaysia’s plural society, and inculcates a sense of belonging and identity among Malaysians, is long overdue.
— The Sun Daily

Feature photo Dhrra Malaysia

This week’s Malaysia morning news feature photo acknowledges World Food Day, October 16.

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.