Malaysia morning news for October 30

Malaysia morning news for October 30
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Malaysia morning newsMalaysia’s new approved direct investments rise to 19.18 bln USD in H1
Malaysia’s new approved direct investments in the services, manufacturing and primary sectors rose 17.7 percent year-on-year to 80.2 billion ringgit (about 19.18 billion U.S. dollars) in the first half of 2018, according to data released Monday.
— Xinhua

Malaysia Auctions Off 1MDB-Linked Superyacht
Malaysia’s government has launched a one-month auction for luxury yacht Equanimity which has allegedly been bought with money stolen from the multibillion-dollar looting of state investment fund 1Malaysia Development Berhad (1MDB).
— Investvine

Australian mining plant in Malaysia faces radioactive waste inquiry
The Chinese government has announced a slashing in the production of rare earth metals, a type of metal used in a range of high-tech products from mobile phones to wind turbines and electric cars.

China ‘Golden Week’ passes by Malaysia, leaving hoteliers worried
Hotels in Malaysia are hard hit by a 30% drop in the number of Chinese tourists, says the country’s main association for hotels.

MAHB reformatting its retails spaces at international airports
Malaysia Airports Holdings Bhd (MAHB) will position its five international airports in Malaysia as lifestyle and shopping haven destinations in the Asia Pacific region.
— New Straits Times

Watch out for better policies
Emerging market investors will be looking for signs in Budget 2019 of better policy orientation and governance, says JP Morgan in a report.
— New Straits Times

China to impose anti-dumping duties on chemical compound from Malaysia
China will collect anti-dumping duties for five years on a chemical compound – ethanolamines – imported from the US, Saudi Arabia, Malaysia and Thailand.
— The Star Online

Official Launch of Realme in Malaysia Confirmed
Realme, an emerging smartphone brand that specialises in providing high quality smartphones, today announced their official launch date in Malaysia. The brand is set to reveal its line-up for the Malaysian market, and details plus recommended retail prices on 7 November 2018.
— AEC News Today/ PR Newswire (media release)

CIMB Research upgrades Star Media Group to Add, TP RM1.20
CIMB Equities Research has upgraded its rating for Star Media Group Bhd from Hold to Add and raised its target price from 72 sen to RM1.20 as the market is under appreciating the value of the group’s real estate.
— The Star Online

Bursa Malaysia’s 3Q earnings slip 2.7%
Bursa Malaysia Bhd turned in a flattish third quarter ended Sept 30, 2018 (3QFY18) with net profit slipping 2.7% to RM50.19 million, from RM51.6 million previously, as operating expenses offset revenue growth.
— The Edge Markets

PropertyGuru hopes gov’t considers opening more land for development
The government should consider opening more land for development given that land scarcity has become a key contributory factor to rising home prices especially in urban areas.
— New Straits Times

Focus on selling local experiences, Unesco rep tells heritage sites
Unesco Jakarta Cultural Unit Head Moe Chiba today said managers of world heritage sites should focus on selling experiences of the local cultures and arts so that tourists will keep returning to visit.
— Malay Mail

Focus on reducing income disparity
The Pakatan Harapan government should focus on reducing income disparity between the rich and poor, regardless of race, in its pursuit to eradicate poverty, said economists.
— New Straits Times

Anwar denies committing electoral offences in PD
PORT Dickson MP Anwar Ibrahim said he had not committed any electoral offences during the by-election campaign despite electoral watchdog Bersih 2.0 naming him as the top culprit.
— The Malaysian Insight

Putrajaya won’t regulate peak season airfares
The government said it would not regulate airfare rates during peak seasons, but is taking several interim measures in consultation with airline companies, the Dewan Rakyat was told today.

Maybank Indonesia saw increased profit in first 9 months
PT Bank Maybank Indonesia, a 97.4 per cent owned by Maybank Group Bhd, saw its profit after tax and minority interests (PATAMI) increased 3.4 per cent to Rp1.5 trillion for the nine months period ended 30 September 2018, on the back of higher net interest income (NII) and improvement in provisioning level.
— New Straits Times

AirAsia wins Gold at Putra Brand Awards 2018 for ninth year
AirAsia has been awarded Gold under the Transport, Travel & Tourism category for the ninth year in a row at the Putra Brand Awards 2018.
— The Borneo Post

Takaful Malaysia to continue growing steadily with resilient earnings prospect
Syarikat Takaful Malaysia Bhd (Takaful Malaysia) has been projected by analysts to continue growing steadily with resilient earnings prospect, despite potential industry headwinds.
— The Borneo Post

Perak DAP calls for investigation into Umno crossovers
PERAK DAP has called on the Malaysian Anti-Corruption Commission (MACC) to investigate a claim that 40 MPs may leave Umno and join Bersatu to avoid having to face the possibility of corruption charges.
— The Malaysian Insight

10 Malaysian locations that made it into movies
Never underestimate a dark, dingy alley in the city of Kuala Lumpur – it could one day be the location of an important scene in the next big blockbuster film.
— Star2

Trade mission to Indonesia and Malaysia kicks off today
The first ever Irish agri-food trade mission to Indonesia and Malaysia, kicks off today (Monday, October 29). Minister for Agriculture, Food and the Marine Michael Creed TD heads up the mission, along with Bord Bia CEO Tara McCarthy.
— Agriland

Singapore, Malaysia shares edge higher amid volatile global markets
Singapore stocks held on to meager gains and Malaysia shares ended barely higher amid volatile global markets as slowing economic growth in U.S. and China spooked investors.
— Nikkei Asian Review (paywall)

SP Setia clinches top spot again at The Edge Malaysia Top Property Developers Awards 2018
SP Setia Bhd has again been ranked the No 1 property developer in the country, the third consecutive year that it has taken the top spot of The Edge Malaysia Top Property Developers Awards (TPDA) 2018.
— The Edge Markets

No surprise in Sandakan CCGT cancellation
The cancellation of the Sandakan combined cycle gas turbine (CCGT) was not entirely a surprise, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) opined in its power sector update recently.
— The Borneo Post

Lynas wins temporary reprieve for Malaysia rare earths plant
Shares in Lynas rose on Monday after the Australian-listed rare earths supplier said it had been allowed to continue to store waste materials at a major facility in Malaysia, easing some pressure while local officials review its operations.
— Financial Times

Starbucks Malaysia’s store that works with the deaf a model for store in US
Starbucks Malaysia’s signing store made headlines again after it was announced that the company would open its first signing store in the US modelled after the one in Kuala Lumpur, which opened in July 2016.
— Marketing Interactive

AmBank’s ‘AMY’ enhances digital banking experience
AmBank Group has enhanced its AmOnline mobile banking application with a virtual financial assistant feature, named AMY, primarily focused on assisting customers on credit card services.
— New Straits Times

Nepal, Malaysia sign labor pact
Nepal and Malaysia have signed a Memorandum of Understanding (MoU) on the supply of labor on Monday.
— Setopati


Feature photo Tune Hotel

This week’s Malaysia morning news feature photo acknowledges World Cities Day, October 31.


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.


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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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