Malaysia morning news for October 5

Malaysia morning news for October 5

Malaysia morning newsNew national car to roll out before 2020
The new national car project is expected to roll-out its first model before 2020, said Entrepreneur Development Minister Mohd Redzuan Yusof.
— The Star Online

World Bank sees Malaysia hitting high-income status by 2024
Malaysia’s economy is projected to expand at 4.7% in 2019 and 4.6% in 2020 despite challenges, while the country is expected to achieve high-income nation status at some point between 2020 and 2024, says the World Bank.

Malaysia Airlines and Jet Airways expand codeshare agreement
Malaysia Airlines and Jet Airways have announced a codeshare agreement expansion, offering guests a wider network of destinations.
— New Straits Times

Consumer sector’s 3Q to see boosts from tax holiday
The consumer sector’s third quarter of current year 2018 (3QCY18) results are expected to be boosted by the “tax holiday” spending, analysts project, but subsequent quarters may ease comparatively due to higher SST-led prices.
— The Borneo Post

Maybank granted full banking licence to incorporate CFS in Singapore
Malayan Banking Bhd says the Monetary Authority of Singapore has granted approval to locally incorporate its community financial services (CFS) business in the republic.
— New Straits Times

Palm oil players to face credit challenge if CPO prices remain weak: Moody’s
Crude palm oil (CPO) prices will present a credit challenge for rated palm oil producers if they remain at current levels, according to Moody’s Investors Service.
— The Sun Daily

Malaysia’s economy to grow slower than expected – World Bank
Malaysia’s economy is expected to grow slower than expected due to the cancellation of large infrastructure projects and dimmer trade and export prospects.
— New Straits Times

Six rescue divers drown trying to save teen in Malaysia
Six rescue divers have drowned while trying to save a teenager from a disused mining pool in Malaysia.

Malaysia PM Mahathir wants ASEAN to help disaster-hit Indonesia
Malaysia Prime Minister Mahathir Mohamad on Thursday (Oct 4) said the ASEAN Committee on Disaster Management (ACDM) has a major role to play in coordinating and extending assistance and support to Indonesia, following the devastating earthquake and tsunami that hit Sulawesi last week.
— Channel NewsAsia

Time right to consolidate fiscal condition, World Bank tells Malaysia
Malaysia should take the opportunity from the current gloomy global economic environment to consolidate the country’s fiscal condition, says World Bank Chief Economist for East Asia and Pacific Region Sudhir Shetty.
— The Star Online

Sime to build Malaysia’s largest property project alone; KWAP, Brunsfield out
Sime Darby Property Bhd (SD Prop) will go it alone in the development of the 379,000-acre Malaysia Vision Valley (MVV) project.
— The Star Online

Short and skinny oil palms to boost world’s most-used edible oil
Plant scientist Meilina Ong Abdullah treads between neat rows of young palms and points to a petite variety that she says may help revolutionise a US$19 billion Malaysian export crop.
— New Straits Times

Perodua to reduce waiting time as 22,000 new Myvi yet to be delivered
Perodua is stepping up the production and delivery of the new Myvi as about 22,000 of the cars have yet to be delivered as at end-September after it was impacted by a technical hitch at one of its vendors.
— The Star Online

Grab, Fave in strategic tie-up to expand in Singapore and Malaysia
Grab and deals platform Fave – formerly Groupon Singapore – announced on Thursday (Oct 4) that they have formed a strategic partnership to accelerate their growth across the Asean region.
— The Straits Times

Set up body to assess social impact of FDIs into Malaysia: Ideas chairman
Institute for Democracy and Economic Affairs (Ideas) chairman Tan Sri Rebecca Fatima Sta Maria said it is crucial for the government to form a body to assess the social impact of any foreign direct investment (FDI) that comes into Malaysia as there is already an existing one to look into the environmental impact.
— The Sun Daily

Child marriages in Malaysia must end, says UN human rights expert
Malaysian authorities must double their efforts to end child marriages, said a United Nations (UN) human rights expert.
— The Star Online

Don’t open ‘floodgates’ for marijuana, expert warns Malaysia
A prominent cancer control expert has urged Malaysia to exercise caution as it reportedly starts discussions to legalise medical marijuana for medical use, saying opening the “floodgates” for cannabis is not a sound idea.

KWAP may invest in MVV but in different role
Kumpulan Wang Persaraan (Diperbadankan) may consider investing in Malaysia Vision Valley (MVV) project but not as a consortium member that spearheads the 379,000-acre development.
— New Straits Times

3 CPTPP members hope Malaysia will jump on bandwagon
Senior representatives from three of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) member countries, namely Australia, Canada and Japan are welcoming Malaysia to join the bandwagon.
— The Sun Daily

Platform to establish Malaysia as hub for cyber threat intelligence sharing
CyberSecurity Malaysia and VigilantAsia initiated a Regional Cyber Threat Intelligence Platform (Cyber-TIP), the region’s first government and industry cyber security predictive threat intelligence platform.
— The Borneo Post

Cagamas completes RM1.55b debt issuance, its 19th of the year
Cagamas Bhd, the National Mortgage Corporation of Malaysia, has successfully completed its 19th issuance for the year, this time a RM1.55 billion issuance, comprising RM800 million 3-year Conventional Medium Term Notes (CMTNs) and RM750 million 3-year Islamic Medium Term Notes (IMTNs) to purchase mortgage loans and Islamic home financing from the financial system.
— The Sun Daily


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.

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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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