Malaysia Morning News For January 8

Malaysia Airlines offers up to 30 pct discounts for selected destinations
Malaysia Airlines Bhd (MAB) is offering up to 30 per cent off on air fares to selected destinations within the airline’s network.
— New Straits Times

Malaysia’s royals to elect new King within 4 weeks after Sultan Muhammad V stepped down
Malaysia’s unique constitutional monarchy means the sovereign is neither absolute nor hereditary, but is elected among the heads of the nine royal houses who rule their own states.
— The Straits Times

Employers to pay less to EPF for workers above 60
The Employees Provident Fund (EPF) today announced that employers will, from now, make a minimum statutory contribution of 4% for employees above 60 years old against the present practice of contributing 6.0% and 6.5%.
— FMT

Petronas starts trial runs at crude distillation unit for Rapid
Malaysian state oil company Petroliam Nasional Bhd (Petronas) started trial runs at the crude distillation unit (CDU) for a joint-venture refinery with Saudi Aramco in Malaysia last week, two sources with knowledge of the matter said today.
— The Sun Daily

Challenging outlook for building materials suppliers
Concrete Engineering Products Bhd (Cepco), a major supplier spun piles and poles, sees continued challenging times ahead as the government suspend and delay construction projects.
— New Straits Times

Sapura Energy units bag RM760m worth of jobs
Sapura Energy Bhd’s wholly owned subsidiaries have clinched several contracts and contract extensions with a combined value of RM760 million.
— The Sun Daily

Non-smokers in Malaysia rejoice after an eternity of discomfort
Cigarette smoke no longer gets in the eyes of non-smokers, including pregnant women and children, since the smoking ban at eateries went into effect on Jan 1.
— Inquirer.net

Fuel dealers train guns on Najib for losses
The Petrol Dealers Association of Malaysia (PDAM) today praised the Pakatan Harapan government for raising their commission by 3 sen per litre, while blaming former prime minister Najib Razak for causing thousands of dealers to go bust.
— FMT

Ex-Goldman Sachs banker denied bail in Malaysia pending extradition to US
A Malaysian court on Monday (Jan 7) declined to grant bail to former Goldman Sachs banker Roger Ng, pending his extradition to the United States where he faces charges related to suspected money laundering of funds siphoned off from state fund 1Malaysia Development Berhad (1MDB).
— Channel NewsAsia

Met Dept: No tsunami threat to Malaysia after 6.5 magnitude quake in Molucca Sea
A strong earthquake, with a magnitude 6.5 on the Richter scale, occurred near Northern Molucca Sea at 1.27am today, according to the Malaysian Meteorological Department.
— Malay Mail

CIMB Research retains hold for Genting Malaysia, TP RM3.25
CIMB Equities Research is retaining its earnings per share (EPS) forecasts and RM3.25 target price for Genting Malaysia (GentingM) and also its hold recommendation.
— The Star Online

Pelita mulls listing on Bursa Malaysia
The Pelita Group of Companies plans to launch an initial public offering (IPO) on the ACE Market of Bursa Malaysia to fund their business expansion and capital expenditure by next year.
— The Star Online

New minimum statutory rate for workers above 60 comes into effect
The minimum workers’ share of the Employees Provident Fund (EPF) contribution for those above 60 will be reduced to 4% per month will start with the January 2019 salary contribution from February.
— The Star Online

Ties with Malaysia ‘put to the test’ in 2018, says S’pore AG
The past year has been challenging with Singapore’s bilateral ties with its closest neighbour “put to the test,” Singapore’s attorney-general Lucien Wong was reported as saying by Channel NewsAsia today.
— Malaysiakini

Singapore supplied Malaysia more water at Johor’s request: Straits Times
Singapore provided additional treated water to Malaysia at Johor’s request after a production disruption related to pollution, the Straits Times reports Monday, citing the national water agency.
— The Edge Markets

Why Isma’s campaign to recognise Malaysia as an Islamic State is a no-brainer — Ahmad Farouk Musa
We read about the campaign by Isma to gather one million signatures in support of its claim of “Malaysia Negara Islam” or Malaysia an Islamic state. But the main question that begs an answer is whether does it really matter whether this country is an Islamic state or not? Does the name matter as much as the content?
— Malay Mail

Malaysia investigates viral photo of child riding sea turtle in Sabah
The Sabah Wildlife Department has been instructed to investigate a picture of a child riding a sea turtle, Deputy Chief Minister of Sabah Christina Liew said on Monday (Jan 7).
— Channel NewsAsia

Sapura Energy bags contracts worth RM760mil
Oil and gas company Sapura Energy Bhd has secured contracts worth RM760mil in Angola and Malaysia that boosted the combined value of project wins in current financial year ending Jan 31, 2019 to RM9.3bil.
— The Star Online

Gagasan Nadi Cergas secures RM110 mil contract for residential development
Gagasan Nadi Cergas Bhd (GNCB), which will be listing in ACE Market of Bursa Malaysia today (Tuesday), received a letter of award (LOA) from Putrajaya Homes Sdn Bhd (PHSB) for the construction of a three-story residential building for RM109.98 million.
— New Straits Times

Boeing 777 surpasses 2,000 orders, retaining status as best-selling widebody jet
American aircraft manufacturer, The Boeing Company became the first company to hit over 2,000 orders for its 777 widebody aircraft programme.
— New Straits Times

Berjaya Media has until June 20 to submit regularisation plan
Berjaya Media Bhd (BMedia) has been granted an extension of time up to June 20, 2019 to submit a regularisation plan to Bursa Malaysia.
— The Sun Daily

TUI Airways adds long-haul connections to Malaysia and Thailand
TUI Airways added 10 new routes to its schedule in the past few weeks including new long-haul links to Langkawi (LGK) in Malaysia and Utapao (UTP) in Thailand, from each of Birmingham (BHX), London Gatwick (LGW) and Manchester (MAN).
— Anna.Aero

XIaomi is launching the Mi MIX 3 in Malaysia this weekend
The Xiaomi Mi MIX 3 will be officially released in Malaysia this coming weekend. This is their latest all-screen flagship smartphone that comes with a slider mechanism to hide its front cameras.
— Soycincau

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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.