Malaysia Morning News For October 4

Malaysia Ex-PM’s Wife Rosmah Arrested, To Be Charged With Money Laundering
Rosmah Mansor, wife of Malaysia’s former prime minister Najib Razak, has been detained on October 3 by the Malaysian Anti-Corruption Commission (MACC). According to a press statement, she was arrested at 3.20pm while giving her statement at the agency’s headquarters in Putrajaya. Her arrest had been expected after earlier interrogations since last week.
— Investvine

Former investment banker jailed, fined for insider trading
The Kuala Lumpur Sessions Court today convicted and sentenced a former investment banker for insider trading in the shares of PacificMas Bhd, the Securities Commission said.
— The Star Online

Budget 2019 – no new taxes, please
For Budget 2019, which will be tabled next month, UOB Research opined that it will be more productive for the government to trim unnecessary expenditure as opposed to introducing new taxes, which are deemed unpopular and likely to raise the cost of doing business at this juncture.
— The Sun Daily

RAM expects 3.3 per cent export growth in August
RAM Ratings expects Malaysia’s export growth to decelerate to 3.3 per cent in August, slower than 9.4 per cent growth in July.
— New Straits Times

Malaysia maintains position as global leader in Islamic finance
Malaysia has maintained its position as the global leader in Islamic finance with a diverse set of industry players which include legal, accounting, technology and rating companies, as well as commodity trading platforms, according to Deputy Finance Minister Datuk Amiruddin Hamzah.
— The Sun Daily

Malaysia, Indonesia in collaboration to boost human capital development in aircraft component manufacturing
Aircraft component manufacturers in Malaysia and Indonesia are collaborating to boost human capital development so as to win more jobs from big names like Airbus, Boeing and Rolls Royce.
— New Straits Times

Government to revive Malaysia Incorporated concept
Prime Minister Tun Dr Mahathir Mohamad’s plan to revive the Malaysia Incorporated concept will likely see the introduction of initiatives such as GLIC (government-linked investment companies) divestment programmes and a clean public-private partnership model over the next two years.
— New Straits Times

Malaysia ramps up scrap plastic restrictions
Scrap plastic shipments to Malaysia will be subject to new restrictions in the coming weeks, as the country follows through on vows to get a handle on skyrocketing imports.
— Resource Recycling

Perak attracts almost RM2 billion worth of investments
Perak Investment Management Centre (InvestPerak), an agency under the Perak state government, and Gas Malaysia Bhd will help to implement various investment projects worth RM1.9 billion next year following the signing of cooperation agreements with several local companies.
— The Borneo Post

Give SME vendors 30pc share of govt procurement – SAMENTA
The Small and Medium Enterprises Association Malaysia (SAMENTA) wants the government to set a target of having 30 per cent of all procurement by government departments as well as government and government-linked agencies come from small and medium enterprise (SME) vendors.
— New Straits Times

What Malaysia needs to do to be an Asian Tiger again
IF Malaysia wants to roar again as an “Asian Tiger”, the country would need enhanced technology, a strong workforce and critical technical skills.
— The Malaysian Insight

What Does Mahathir’s Return Mean for Malaysia’s Foreign Policy?
While his views may be well-known, how they will translate into the conduct of foreign policy in a ‘New Malaysia’ is less clear.
— The Diplomat

Government to trim expenditure allocations amid lower revenue collection: UOB Malaysia
The Pakatan Harapan government is expected to trim allocations for both operating and development expenditure amid lower revenue collections under its inaugural budget to be tabled on November 2.
— New Straits Times

60,000 workers can now go to Malaysia
Some 60,000 Bangladeshis, whose travel to Malaysia became uncertain after the country suspended the online recruitment system on September 1, have been cleared for migration to the Southeast Asian country.
— The Daily Time

Kevin Morais Was Ex-AG’s Most Trusted Prosecutor Says Ex-Colleague
Refuting an allegation made yesterday in court, the former PM Najib Razak also dismissed earlier coverage by Sarawak Report, claiming that MACC chief Shukri Abdull had denied that the murdered prosecutor Kevin Morais had drawn up a charge sheet against Najib on behalf of the former Attorney General Gani Patail.
— Sarawak Report

BNM publishes new VBI assessment framework, scorecard
Bank Negara Malaysia yesterday published a new assessment framework Strategy Paper on Value-based Intermediation (VBI) Impact Assessment Framework (VBIAF) and the VBI Scorecard.
— The Borneo Post

13 reasons to retire in Malaysia
Not every country welcomes foreign retirees. Malaysia is one of only a handful that have special schemes aimed at attracting long-term foreign retirees.
— FMT

Foreign inflows to Malaysia stocks lose momentum
Foreign buying of Malaysia’s stocks slowed in the past week as the nation’s benchmark equity index rose and the Malaysian ringgit was little changed.
— The Edge Markets

Closing A Factory In Malaysia Could Be Bad For U.S. Industry And Good For China
U.S. manufacturers of high-tech equipment dodged a crisis last month when rare earths were omitted from the latest list of tariffs on Chinese goods but they might still have a problem because the world’s biggest source of the critical elements outside China is being threatened with closure.
— Forbes

Mark Field in Malaysia to deepen bilateral ties ahead of Brexit
FCO Minister of State for Asia and The Pacific Mark Field is in Malaysia to strengthen links with Malaysia as the UK prepares to leave the European Union.
— Gov.UK

Feature photo Tang An Shi

This week’s Malaysia morning news feature photo acknowledges World Habitat Day, October 1.

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.