Malaysia Morning News For September 18

Malaysia’s economy fundamentally strong, resilient: Finance minister
Despite uncertainty in global developments, Malaysia’s economy is fundamentally strong and resilient, said Finance Minister Lim Guan Eng on Monday (Sep 17).
— Channel NewsAsia

Malaysia to have new multimedia panel chief, expected to shake up telecoms sector
Low-key corporate executive Al-Ishsal Ishak is the next chairman of the Malaysian Commission for Multimedia and Communications (MCMC), the powerful watchdog agency supervising the country’s communications and multimedia sectors.
— The Straits Times

Malaysia to gain from cancellation of controversial China projects
It could be a case of short-term pain for long-term gain if Malaysia decides not to be fully part of China’s Belt and Road Initiative (BRI) by cancelling some of the more controversial China-backed infrastructure projects.
— The Star Online

New regimes, old policies and a bumiputera reboot
Malaysia’s incipient Pakatan Harapan (PH) government, inheriting the country’s financial debacles and its extensive and complex ethnic policies, negotiates a three-cornered tussle.
— New Mandala

Malaysia Airlines revives MH campaign to mark M’sia Day
As the nation celebrates Malaysia Day, Malaysia Airlines is reviving its Malaysian Hospitality (MH) campaign that made its debut in 2013 to deliver a seamless travel experience all the way.
— The Borneo Post

Najib claims SST promotes money laundering and tax evasion in Malaysia, compared to GST
The Malaysian government’s decision to switch back to Sales and Services Tax (SST) is the equivalent rolling out a welcome mat for the “black economy”, according to former Prime Minister Najib Razak.
— Busines Insider

Malaysia’s labour market holds firm despite global trade tension
Malaysia’s labour force expanded by 2.6 per cent year on year (y-o-y) to 15.4 million in July 2018 – performing better than the previous month – in spite of global trade tensions between the US and China.
— The Borneo Post

Vietnam, Malaysia State audit agencies foster cooperation
Vietnamese Auditor General Ho Duc Phoc held talks with his Malaysian counterpart Madinal Binti Mohamad who is in Vietnam to attend the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI).
— Nhan Dan Online

R&D can make rubber, coconut great again
PRIME Minister Tun Dr Mahathir Mohamad made two penetrating comments on research and development (R&D) when he officiated at the recent International Rubber Conference in Kuala Lumpur.
— New Straits Times

SMEs remain a major facet for UOB Bank
With small-medium enterprises (SMEs) making up 97 per cent of business in Malaysia while providing close to 4 million employment opportunities, United Overseas Bank (Malaysia) Bhd’s (UOB Bank) next goal is to support this cornerstone through comprehensive and innovative solutioning.
— The Borneo Post

Largest ever power industry conference in Malaysia starts tomorrow
Nearly 2,000 delegates are expected to attend CEPSI 2018 or the Conference of Electric Power Supply Industry 2018, the largest energy and electricity supply industry conference ever to be organised in Malaysia, at the KL Convention Centre from tomorrow until Thursday.
— The Sun Daily

Fugitive Malaysian financier Jho Low launches website to proclaim innocence
Lawyers for a fugitive Malaysian financier wanted for his involvement in a multi-billion-dollar scandal launched a website on Monday (Sep 17) to proclaim the innocence of a client they described as a “global philanthropist, investor and entrepreneur”.
— Channel NewsAsia

Stay away from Mahathir, pro-Umno group tells Anwar
A pro-Umno group today told Anwar Ibrahim to distance himself from Prime Minister Dr Mahathir Mohamad, saying opposition supporters would forgive the PKR president elect if he was willing to do so.
— FMT

Malaysian woman fined for illegal entry into Thailand
A woman was fined RM625 (5,000 Baht) by the Narathiwat Region Court last week for entering Thailand illegally.
— New Straits Times

Indonesia overtakes Malaysia as key exporter of plywood to Japan
Indonesia has overtaken Malaysia in selling more plywood to Japan, the key export market for both countries.
— The Star Online

Sabah, Sarawak to be restored as equal partners forming Malaysia, says Dr M
The status of Sabah and Sarawak as equal partners in the nation will be restored under the New Malaysia and Pakatan Harapan federal government, said the Prime Minister.
— The Star Online

Let’s stop demonisation of palm oil
AS environmental awareness about palm oil is strong in Europe, the European Union’s proposed ban on palm oil biofuels by 2020 has been causing anxiety among Malaysian oil palm growers early this year, as EU is Malaysia’s third largest palm oil customer.
— New Straits Times

DHU gearing up to meet brisk demand for auto manpower
DRB HICOM University of Automotive Malaysia (DHU), is gearing up to meet the brisk demand for manpower in the automotive sector which will require some 700,000 workers in the next two years.
— The Borneo Post

Foreign investors still see Malaysia as a lucrative market
Despite the gloomy global economic outlook, foreign investors still view Malaysia as a lucrative investment destination, owing to the country’s stable political landscape and steady energy prices.
— The Star Online

Can Malaysian businesses leverage the blockchain?
MALAYSIA is looking to use blockchain in three of the country’s largest industries: Renewable energy, palm oil industry, and Islamic finance.
— Tech Wire Asia

Family businesses outperform equity markets
Family-owned businesses outperform broader equity markets across every region and sector on a long-term basis, according to the ‘Credit Suisse Family 1000 in 2018’ report, published by the Credit Suisse Research Institute (CSRI).
— The Borneo Post

Pakatan Harapan looks to empower East Malaysia
The new Pakatan Harapan (PH) government has set the goodwill wheels in motion with Sabah and Sarawak, announcing on Sunday that the two states would have their rights restored as “equal partners” in the formation of Malaysia.
— The Straits Times

MARC affirms ‘AAA’ rating on Sime Darby Plantation
Malaysian Rating Corp Bhd (MARC) has affirmed Sime Darby Plantation Bhd’s (SD Plantation) corporate credit rating at ‘AAA’, and accordingly its perpetual subordinated sukuk programme of up to RM3 billion at ‘AAIS’.
— The Sun Daily

A better option than IPO for Sapura Energy in proposed tie-up with OMV
Sapura Energy Bhd’s latest corporate manoeuver with Austrian oil and gas major, OMV AG, will bring about several potential benefits, including making the proposed exercise even better than an initial public offer (IPO) for Sapura Upstream Sdn Bhd, its exploration and production (E and P) arm.
— The Star Online

The man wanted for Malaysia’s missing billions has surfaced to tell the “true story”
Malaysia has been looking for him. The US government has been seeking him (pdf). And Wall Street Journal reporters Tom Wright and Bradley Hope have been trying to reach him for comment multiple times a year for several years now.
— Quartz

edotco scraps RM4bil plan to acquire Pakistan towers
edotco Group Sdn Bhd’s plans to acquire 13,000 towers from Pakistan Mobile Communications Ltd have been scuppered as certain regulatory approvals were not received.
— The Star Online

Ducati rider in coma after being trampled by cows in Malaysia
A Ducati Diavel motorbike rider is in a coma after some 30 cows charged at him while he was riding in a convoy in Malaysia.
— Asia One

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