Malaysia morning news for April 4

Malaysia morning news for April 4

Malaysia morning newsMalaysia’s former PM Najib pleads not guilty as corruption trial starts
Malaysia’s disgraced former leader Najib Razak pleaded not guilty to all charges against him on Wednesday (Apr 3) at the start of his trial over a multibillion-dollar financial scandal that brought down his government last year and sent shockwaves around the world.
— Channel NewsAsia

Malaysia is world’s largest consumer of illegal cigarettes
Malaysia has become the largest consumer of illegal cigarettes in the world, with over 12 billion sticks sold last year, according to a study by research house Nielson and the Confederation of Malaysian Tobacco Manufacturers.
— The Star Online

Malaysian Rights Panel: Police ‘Probably’ Behind Abduction of Pastor, Activist
Malaysian police agents were probably behind the abductions of a Christian pastor and an activist more than two years ago, the parliamentary-backed national human rights commission concluded Wednesday, urging state authorities to create a task force and probe what it declared as “enforced disappearances.”
— Benar News

No spike in durian prices or drop in supply with China exports
Malaysia will start exporting durians to China soon, but locals have been assured that there will still be plenty to eat and that prices will not spike.
— The Star Online

Foreign income earned in Malaysia is taxable
Foreign income derived overseas is exempted from tax but foreign income derived from Malaysia is taxable, said a tax expert.
— The Sun Daily

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Malaysia plans US$180m ‘ship-to-ship hub’ with Hutchison Port
KA Petra Sdn Bhd and Hong Kong-based port operator Hutchison Port Holdings Ltd are investing up to US$180 million to set up the world’s biggest ‘ship-to-ship (STS) hub’ in the waters of Johor Bahru port.
— New Straits Times

Malaysia police likely behind religion-linked abductions: Enquiry
A Malaysian human rights commission enquiry into the abduction of two people more than two years ago has found the pair was probably disappeared by the intelligence branch of the country’s police.
— Aljazeera

Malaysia still lacks licensed financial planners, says FPAM
Malaysia still lacks licensed financial planners who can help members of the public make the right financial decisions.
— The Star Online

Malaysia to sell yacht at center of 1MDB scandal for $126M
Malaysia’s government says a luxury yacht allegedly bought with money stolen from a troubled state investment fund will be sold to casino operator Genting Berhad for USD 126 million, half its original price.
— Business Standard

Four Asean nations, including Malaysia, seek to boost investment in local currency
The central banks of Thailand, Indonesia, Malaysia and the Philippines will chart out a framework this week to promote trade and investment in local currencies, in a latest move by emerging economies to trim exposure to volatile global markets.
— The Star Online

Malaysian opposition stages walkout after MP ejected for calling Guan Eng ‘pondan’
The opposition staged a walkout in Parliament here on Tuesday (April 2) after PAS’ Pengkalan Chepa MP Ahmad Marzuk Shaary was ejected after he called Finance Minister Lim Guan Eng a pondan (sissy).
— Asia One

Malaysia’s mortgage market to benefit from big data — expert
The Malaysian mortgage market could benefit from the use of big data for a more comprehensive view of the overall property sector, according to property data firm Urbanmetry Sdn Bhd.
— The Edge Markets

Foreign donations, income reviewed on case-by-case basis: IRB
The tax on foreign donations or income is reviewed on a case-by-case basis before any decision is made, said Inland Revenue Board (IRB) chief executive officer, Datuk Seri Sabin Samitah.
— The Sun Daily

Shell Malaysia begins upgrading its fuel stations to become greener with new energy savings measures
Shell Malaysia today announced that it had begun its journey to make its fuel stations more environmentally friendly with the introduction of its first two green retail fuel stations in the country. Shell Damansara Jaya and Shell Taman Connaught have been rated to Green Building Index (GBI) standards.
— Paultan

Malaysian deputy minister suggests joint UNESCO hawker culture nomination with Singapore
Malaysia’s Deputy Tourism and Culture Minister Muhammad Bakhtiar Wan Chik said on Tue, Apr l 2, that since hawker food is common to both Singaporean and Malaysian cultures, the two countries could perhaps jointly apply for UNESCO recognition for cultural heritage for the hawker culture.
— The Indepandent

Malaysia fund loses US$800m in value over three days
The troubles are adding up for IHH Healthcare Bhd, wiping almost US$800 million from its market value over three days.
— Business Times

Malaysian trade delegation visits MetLife’s New York headquarters
A Malaysian delegation led by International Trade and Industry Minister Darell Leiking has visited Amercian financial giant MetLife Inc’s headquarters in New York.
— New Straits Times

Moody’s lowers Malaysia’s GDP outlook for 2019, 2020
Moody’s Investor Service today reduced Malaysia’s Gross Domestic Product (GDP) outlook to 4.4 per cent for this year, and 4.3 per cent for 2020.
— Yahoo.com

PNB targets 150,000 visitors to Minggu Saham Amanah Malaysia
Permodalan Nasional Bhd (PNB) has targeted 150,000 visitors to its flagship event, Minggu Saham Amanah Malaysia (MSAM), to be held this time in Sungai Petani, Kedah from April 19 to 25.
— New Straits Times

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Genting Malaysia confirms Equanimity purchase for RM514.6mil
Genting Malaysia Bhd has confirmed its purchase of the Equanimity superyacht for US$126mil (RM514.6mil) under a Judicial Sale process, by way of private direct sale.
— The Star Online

Dr M: Govt is still subsidising gas, prices are low
Prime Minister Tun Dr Mahathir Mohamad has shot down appeals from the business community to reduce gas tariffs, justifying that the current gas price is low and still being subsidised by the government.
— New Straits Times

Proton ends 1Q19 with record setting numbers
The first quarter of 2019 (1Q19) ended with more record setting numbers for national carmaker Proton as the company continued its excellent start to the year.
— The Borneo Post

Bernas, Puspakom, Pharmaniaga, MyEG under review by government
Padiberas Nasional Bhd (Bernas), Puspakom, Pharmaniaga Bhd and MyEG Services Bhd have been identified as monopolies and are currently being reviewed by the government, according to Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.
— The Star Online

Cagamas mulls shared equity housing scheme
National mortgage corporation Cagamas Bhd (Cagamas) is working towards introducing a shared equity programme for housing.
— The Borneo Post

AG: Najib’s trial should serve as reminder to future PMs
The prosecution and trial of Datuk Seri Najib Razak should serve as a reminder to those elected as prime ministers in the future, Attorney General (AG) Tommy Thomas said today.
— Malay Mail

Lynas Malaysia prepared to comply with review committee’s recommendations
Lynas Malaysia has reiterated its preparedness to comply with the executive review committee’s recommendation to store its water leach purification (WLP) residue in a permanent disposal facility (PDF).
— The Star Online

Divestment reaches near record levels as Southeast Asian firms streamline to compete
Companies are gearing up to divest business units to gain competitive advantage in the face of changing technology, and sector convergence, according to the EY Global Corporate Divestment Study 2019.
— The Borneo Post

The contradictions that are pulling down our nation
The problem with Malaysia is that we like to set high ideals, put up slogans, have great ambitions and draw inspiration from the successes of other countries. We looked East, essentially to Japan and Korea, during their heydays. We now want to look to China too and again I think it is due to its recent progress in various fields.
— FMT

Malaysia’s Businessmen Say Wage Hike Is ‘Unfair, Jobless Youth Unhappy With Average Monthly Offers
Malaysia still has a huge number of jobless young people and fresh graduates and while the corporate sector wants to fill in the job demand, many employers indicated that the latest wage hike is “unfair.”
— Business Times

 

Feature photo NASOM

This week’s Malaysia morning news feature photo acknowledges World Autism Awareness Day, April 2. 

 

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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