Malaysia Morning News For October 24

Malaysia can save RM300 billion from cancellation of HSR, other projects: Mahathir
Cancellation of the Kuala Lumpur-Singapore High-Speed Rail (HSR), East Coast Rail Line (ECRL) and trans-Sabah gas pipeline projects can help reduce the government’s debt burden by more than RM300 billion, Malaysian Prime Minister Mahathir Mohamad said on Monday (Oct 22).
— Channel NewsAsia

Malaysia’s Subang airport tapped as next Asean air hub
Sultan Abdul Aziz Shah Airport (SAAS) at Subang, Malaysia, is the best choice to become the next business aviation hub in the Asean region, according to a recent survey by the global research and consulting firm Frost & Sullivan.
— AEC News Today

Broadband pricing down 56pct
The recent announcement made by the Malaysian Communications and Multimedia Commission (MCMC) saw broadband pricing in Malaysia reduced by up to 56 per cent and made the new pricing applicable to all including telecommunication companies’ (telcos) existing customers.
— New Straits Times

Malaysia’s healthcare industry spending to reach RM80b by 2020
Malaysia’s healthcare industry spending is expected to reach about RM80 billion by 2020, said Health Minister Datuk Seri Dr Dzulkefly Ahmad.
— The Sun Daily

Digital tax may impact parcel delivery logistics
Local authorities looking to implement a digital tax on eCommerce transactions may have indirect impact on logistic players in the form of parcel delivery volume growth.
— The Borneo Post

Digi upsizes home broadband plans by 50%
Digi Telecommunications Sdn Bhd has increased its Digi Home Broadband plans by 50% for the new and current customers.
— The Star Online

Malaysia’s mid-term review of 11MP echoes UN’s agenda 2030 for sustainable development goals
The mid-term review of the 11th Malaysia Plan, with new priorities and emphases, further augments the new Malaysian Government’s alignment to international standards and aspirations, particularly the Agenda 2030 for Sustainable Development Goals (SDGs).
— Malay Mail

Bank Negara to extend observation period for net stable funding ratio by a year to 2020
Bank Negara Malaysia (BNM) is looking to extend the observation period for the net stable funding ratio (NSFR) in Malaysia for a year to 2020.
— The Sun Daily

Govt opens door to Germans for third national car
The government is opening its door to German automakers to participate in the third national car project, says the Ministry of International Trade and Industry (Miti).
— The Sun Daily

Indonesia quake ‘punishment from Allah’ for gay activities: Former Malaysian DPM
Malaysia’s opposition leader said Tuesday (Oct 23) that the recent quake-tsunami that killed thousands in neighbouring Indonesia was “punishment from Allah” for the activities of gay people, sparking a storm of criticism.
— Channel NewsAsia

Demand for durians threatens tigers, water supply in Malaysia as jungles razed
The big boom in demand for durians from China is proving to be a thorny issue in the so-called durian capital of Malaysia.
— The Straits Times

Relations with Malaysia stable, ties with Indonesia good: PM Lee
Prime Minister Lee Hsien Loong will travel to Putrajaya to meet his Malaysian counterpart, Tun Dr Mahathir Mohamad, for a leaders’ retreat next month.
— The Straits Times

Malaysian PM to meet with Gen Prayut on Wednesday
Malaysian Prime Minister Tun Dr. Mahathir bin Mohamad is scheduled to meet with Prime Minister Gen Prayut Chan-o-cha on Wednesday, during an official visit to Thailand.
— NNT

MITEC Signs Exclusive International Partnership With GICEC
The Malaysia International Trade & Exhibition Centre (MITEC) and Tanzhou International Convention and Exhibition Center (GICEC), China sealed an exclusive collaborative partnership to further contribute in creating an economic impact through the business events industry.
— AEC News Today/ PR Newswire (media release)

Suspects in Internet love scams arrested in Malaysia
Nineteen people believed to have cheated people in Singapore, Malaysia and Hong Kong of more than S$19 million through Internet love scams have been arrested.
— Channel NewsAsia

Korea, Japan firms eyeing Malaysia as Asean production hub
More and more companies in Korea and Japan are eyeing to make Malaysia a production hub for the Southeast Asian market, said International Trade and Industry Minister Darrell Leiking.
— The Edge Markets

Eradicating poverty: We’re only good at planning, says economist
An economist has welcomed Putrajaya’s proposals to address poverty in its mid-term review of the 11th Malaysia Plan but questions the extent to which the measures can be fulfilled.
— FMT

Malaysia seeks a new dawn in China ties
Canceling Beijing-backed projects on cost grounds does not mean reversing relations.
— Nikkei Asian Review (paywall)

Proton launches six new 3S/4S centres in Malaysia – Port Dickson, Nilai, Ipoh, Bintulu, Miri and Sandakan
Proton’s sales and service network revamp exercise continues, with six new or upgraded 3S/4S centres being launched in Malaysia over the past few weeks. These dealerships, which include a few in East Malaysia, also boast the national carmaker’s latest corporate identity (CI), which features a light blue colour scheme.
— Paultan

Securemetric eyes RM17 million from IPO
Digital security solutions provider Securemetric Bhd, which is en route to a listing on the ACE Market on Nov 13, is looking to raise RM17 million from its initial public offering (IPO).
— The Sun Daily

Boost named as “Digital Disruptor of the Year” for Malaysia
Boost has been named as “Digital Disruptor of the Year” for Malaysia in the 2nd annual IDC Digital Transformation Awards (IDC DX Awards).
— New Straits Times

LCTH’s unit awards contracts worth RM67.77m to related parties
Lotte Chemical Titan Holding Bhd’s (LCTH) wholly-owned subsidiary Lotte Chemical Titan (M) Sdn Bhd (LCTM) has awarded contracts for engineering, procurement and construction of a new boiler and ancillary equipment to related parties worth a total of RM67.77 million.
— New Straits Times

Heading down south: Lee and Man Paper expands into Malaysia
Hong Kong’s biggest paper maker is opening a new HK$5.1-billion production plant in Malaysia, as it looks to build on its growing presence in Southeast Asia and meet China’s increasing demand for paper.
— South China Morning Post

The HR leader’s wishlist from Malaysia budget 2019
Malaysia Budget 2019 is all set to be announced on 2 November 2018 by Prime Minister Tun Dr Mahathir Mohamad, and ahead of the tabling, Human Resources spoke to HR leaders and managers across industries to learn what’s on their wishlist from this year’s edition.
— Human Resources Online

KLCI falls below 1,700, bloodshed in Asian markets
The FBM KLCI slipped below the key 1,700-point level as Asian equities were routed on Tuesday, taking the lead of Wall Street’s negative performance overnight and erasing the gains it had made in the previous session.
— The Star Online

CIMB Group’s prospects remain in tact: PublicInvest
CIMB Group Holdings Bhd’s prospects remain in tact, although its near-term growth will likely fall short of expectations, Public Investment Bank Bhd said.
— New Straits Times

Realme is coming to Malaysia in November
OPPO’s new budget focused sub-brand, Realme, is finally coming to Malaysia. The local launch is taking place next month and this could be a new challenger for honor and Xiaomi in the sub-RM1,000 smartphone segment.
— Malay Mail

IJM Plantation may face major crop losses: Affin Hwang
IJM Plantations Bhd could face major crop losses if the logistics issue continues to delay its harvesting process at its East Kalimantan estate, Affin Hwang Capital Research said.
— New Straits Times

Salmonella strain in Malaysian outbreak identified
The Salmonella strain behind a foodborne outbreak in Malaysia that has killed two people has been identified by authorities.
— Food Safety News

6 magnificent national parks in Malaysia
As a country blessed with a rich and diverse ecosystem, Malaysia has a thriving ecotourism scene boasting renowned national and state parks. The country is a haven for unique wildlife and lush tropical rainforests, all of which can be found at these gazetted venues.
— Star2

PAS’ inheritance from BN in Terengganu
This is the third time since independence that the state of Terengganu has been under PAS rule.
— FMT

Feature photo One Bonsai

This week’s Malaysia morning news feature photo acknowledges World Day for Audiovisual Heritage, October 27.

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.