Malaysia Morning News For October 25

Malaysia on track to achieve 3.7pct productivity growth by 2020
Malaysia is on right track to achieve productivity growth of 3.7 per cent by 2020, based on its labour productivity performance last year.
— New Straits Times

Reintroduced reinvestment allowance for rubber glove sector: Margma
The Malaysian Rubber Glove Industry has submitted its 2019 Budget proposal for the extension and expansion of the reinvestment allowance to the industry.
— New Straits Times

Najib Razak and former Malaysia Treasury secretary-general to face criminal breach of trust charges
Former Malaysia prime minister Najib Razak will be back in court on Thursday (Oct 25) in connection with several cases of criminal breach of trust involving government funds.
— Channel NewsAsia

Malaysia PM discusses insurgency during visit to Thailand
Malaysian Prime Minister Mahathir Mohamad met Wednesday with Thailand’s leader and discussed peace talks in Thailand’s southern border provinces where a Muslim separatist insurgency has been raging for over a decade.
— ABC News

Malaysia exploring new markets for commodity exports, says deputy minister
Malaysia is in the midst of exploring new markets for all commodities including rubber and palm oil, said Primary Industries Deputy Minister Datuk Seri Shamsul Iskandar Md Akin.
— Malay Mail

Higher fuel prices and lower average fare to hamper AirAsia X’s earnings: PublicInvest
AirAsia X Bhd’s earnings forecasts for the years ending December 31, 2018 to 2020 have been reduced by Public Investment Bank Bhd amid lower average fare expectations and rising fuel costs.
— New Straits Times

China’s appetite for ‘stinky’ durian fruit threatening endangered tigers
The habitat of one of the world’s most endangered tigers is under threat, according to environmental groups, as forests in Malaysia are cleared to meet growing demand for durians, the divisively pungent fruit hugely popular in China.
— The Guardian

Malaysia shares slip as oil prices decline
Malaysia shares declined while Singapore stocks were barely changed Wednesday as lower crude oil prices and global geopolitical tensions sapped investors’ risk appetite in Asia.
— Nikkei Asian Review (paywall)

Medical device industry should embrace new technology to stay competitive – MIDA
Medical device industry players, especially local companies, are urged to adopt new strategies and embrace emerging technologies in order to remain competitive.
— New Straits Times

Malaysia’s economic growth to ease in Dec 2018-Feb 2019
Malaysia’s economic growth is expected to ease from December 2018 to February 2019, says the Department of Statistics Malaysia.
— The Star Online

Malaysia to abolish, amend 117 laws
The government is seeking to abolish, amend and reintroduce a total of 117 laws, said Minister in the Prime Minister’s Department Datuk Liew Vui Keong.
— New Straits Times

Coach and Grow Programme Graduates Generated More than RM2 Billion in Revenue for 2018
Malaysian technology-based companies are growing from strength-to-strength with the help of experienced mentors and coaches from the Coach and Grow Programme (CGP).
— AEC News Today/ PR Newswire (media release)

Malaysian PM in Bangkok for official visit
Malaysian Prime Minister Dr. Mahathir Mohamad is to arrive in the Kingdom today (October 24) for an official visit as a guest of the Thai government and is to discuss Thai-Malaysian relations in detail.
— News Today (video)

AirAsia X load factor, passengers up in Q3
AirAsia X Bhd reported a 1% growth in the number of passengers carried to 1.51 million for the third quarter of 2018 against 1.50 million in the same period last year.
— The Sun Daily

RAM Ratings expects inflation to remain contained in 2018
RAM Rating Services Bhd (RAM Ratings) has forecast that the country’s overall inflation would remain contained in 2018 despite upward pressure from the Sales and Services Tax (SST).
— New Straits Times

Putrajaya to terminate services of firms handling foreign workers
Putrajaya today said it would be terminating the services of 100 outsourcing companies handling foreign workers.
— FMT

LB Aluminium unit buys into property firm
LB Aluminium Bhd said its 51%-owned subsidiary Citajaya Kuasa Sdn Bhd has subscribed for two million new shares, representing an 80% stake in Contras Build Sdn Bhd for a cash consideration of RM2 million.
— The Edge Markets

Glomac to launch RM780m of new property projects
Glomac Bhd is on track to launch RM780mil worth of new property projects in its current financial year ending April 30, 2019 which more than 200% from the RM248mil launched last year.
— The Star Online

On UN Day, Malaysia says United Nations still best platform to address global woes
Malaysia strongly believes the United Nations (UN), which celebrates its 73rd anniversary today (UN Day), remains the best platform to pursue international cooperation and address problems of the global commons, based on the principles of mutual respect and international law.
— New Straits Times

Loke unfit to be transport minister, says taxi coalition
A coalition of over 100 taxi associations today reiterated its call for Transport Minister Loke Siew Fook to resign, claiming he had failed to resolve the issues between cabbies and e-hailing service provider Grab.
— FMT

Toyota Malaysia picks The Clan for digital creative duties
Toyota Malaysia has appointed The Clan as its digital creative agency following a pitch in July. Both The Clan and Toyota declined to reveal the value of the contract and its duration.
— Marketing Interactive

‘Malaysia resilient despite fears of market contagion’
The risk of contagion effects on Malaysian economy is minimal as it is capable of withstanding external-driven crisis and its economy is fundamentally strong and firm, according to MIDF Research.
— The Sun Daily

Bank Muamalat manages more than RM20m in waqf fund
Bank Muamalat Malaysia Bhd has managed more than RM20 million of waqf fund to-date under its MyWakaf initiative launched last year.
— New Straits Times

Capitaland Mall Trust’s Q3 net profit falls to RM31.55m
Capitaland Malaysia Mall Trust’s (CMMT) net profit for the third quarter ended Sept 30, 2018 (3Q18) fell to RM31.55 million from RM40.07 million recorded in the same period last year.
— New Straits Times

Govt welcomes German autos for car project
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 Borneo Post

CMMT hit by lower income from the Klang Valley malls
Capitaland Malaysia Mall Trust’s (CMMT) net profit for the third quarter ended Sept 30, 2018 (3Q18) fell to RM31.55mil from RM40.07mil recorded in the same period last year.
— The Star Online

Trading in Selangor Properties suspended
Trading of Selangor Properties Bhd shares will be suspended from 9am to 5pm tomorrow, pending a material announcement.
— The Sun Daily

Grab launches first official Grab Driver Centre in Kuching
Grab, the leading online-to-offline mobile platform in Southeast Asia officially launched its first driver centre in Kuching to mark its first anniversary in town.
— The Borneo Post

Reach Energy announces discovery of oil-bearing reservoir in Kazakhstan
Reach Energy Bhd today announced that its Yessen-3 (Y-3) exploration well has yielded positive results during the initial testing phase.
— New Straits Times

Securemetric aims to raise RM17 mln from IPO
Cyber security company, Securemetric Bhd, aims to raise RM17 million from its initial public offering (IPO) at 25 sen per share.
— The Borneo Post

DPM: Malaysia, Vietnam will continue close cooperation
Malaysia and Vietnam will continue to boost close cooperation which had been established for 45 years.
— Malay Mail

Musang King durian sells out at first Malaysian Food Festival in New York
The first Malaysian Food Festival took place on Sunday October 21st in the large square in front of the Confucius Building in New York’s Chinatown.
— Fresh Plaza

Smart farming the next catalyst for agriculture
The time is ‘ripe’ for the state’s agriculture players to adopt modern technology along the industry’s supply and value chain in an effort towards modernisation.
— The Borneo Post

TALKING EDGE: Is it all doom and gloom for Malaysia?
Why is Malaysia inconsequential and how can that be a good thing? Who should Malaysia be friends with? The answers and more in Part 2 of our interview with former Council of Elders member, Professor Dr Jomo Kwame Sundaram.
— The Edge Markets

Malaysian palm producer FGV appoints chairman as interim CEO
Malaysian palm oil producer FGV Holdings has appointed Chairman Wira Azhar Abdul Hamid as interim chief executive, it said in a bourse filing on Wednesday, as the company reshapes its management after high-profile departures in recent months.
— Reuters

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.