Malaysia morning news for January 16

Malaysia morning news for January 16
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Malaysia morning newsMalaysian banking sector to see moderate growth this year
The Malaysian banking sector is expected to see moderate growth this year, in line with the slowdown in global gross domestic product (GDP).

Malaysia has potential to up textile exports to US
Malaysia has the potential to increase exports of textiles to the United States (US) in light of its trade war with China.
— Malay Mail

Malaysia Insists Goldman Sachs Pays Back $7.5 Billion In 1MDB Case
Malaysian Finance Minister Lim Guan Eng says his government insists on reclaiming $7.5 billion from US financial firm Goldman Sachs in reparations over the 1Malaysia Development Berhad (1MDB) scandal, adding that it was “an extremely reasonable” amount.
— Investvine

Malaysia’s economic fundamentals remain strong, says World Bank
Malaysia’s economic fundamentals remain strong due to its diversified economy, despite the recent downgrade by Nomura Global Markets Research on the Malaysian equity market, says the World Bank.

Proton aims to double exports sales in 2019
Proton Holdings Bhd aims to increase exports of its cars to 3,000 units this year from 1,388 units in 2018.
— The Sun Daily

M’sia will not lose competitiveness to Vietnam
Malaysia will not lose its competitiveness to Vietnam even though it does not ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
— The Borneo Post

Malaysia’s Jan 1-15 palm oil exports rise 17% — ITS
Exports of Malaysian palm oil products for Jan 1-15 rose 17.0% to 615,565 tonnes from 525,939 tonnes shipped during Dec 1-15, cargo surveyor Intertek Testing Services said on Tuesday.
— The Edge Markets

Unemployment rate unchanged at 3.3% in November 2018
The unemployment rate in November 2018 remained at 3.3% since September 2018, according to Statistics Department.
— The Sun Daily

Mahathir: Govt aid continues for local manufacturers
The government will continue to provide assistance and support to local manufacturing industry players as far as it is able to do so, Tun Dr Mahathir Mohamad said yesterday.
— The Borneo Post

Singaporeans cancel CNY shopping trips to Johor
The recent tension between Malaysia and Singapore resulted in several day tours to Johor for Chinese New Year shopping to be cancelled, reported Sin Chew Daily.
— AsiaOne

EPF tight-lipped on dividend payout
Employees Provident Fund (EPF) chairman Samsudin Osman is tight-lipped on payment of dividend to its 14 million contributors this year.

MACC confirms investigating Fire Department’s procurement of ‘unsafe’ fireproof uniforms
The Malaysian Anti-Corruption Commission (MACC) today confirmed investigating the Fire and Rescue Department’s purchase of inferior fireproof uniforms worth RM13.5 million in 2016.
— Malay Mail

How can Malaysia become a developed nation?
On June 12 last year, while delivering his keynote address at the 24th Nikkei Conference on the Future of Asia, Dr Mahathir Mohamad said Malaysia could achieve developed nation status provided that the right policies were in place, and that Malaysians worked very hard.

Uni Wall Aps expands presence in Malaysia, Australia
Bursa Malaysia’s Leap Market debutant, Uni Wall APS Holdings Bhd, is progressively expanding its presence in Malaysia and Australia.
— The Star Online

Malaysia to begin regulating ICOs as securities today
Malaysia may not be clear where it stands on cryptocurrencies, but the country’s securities watchdogs now have the power to regulate certain digital assets and crypto exchanges.
— Coingeek

Proton vendors sign agreement with foreign vendors
Proton Holdings Bhd (Proton) vendors have inked collaborative agreements with foreign vendors that will see an initial investment of RM47mil into Malaysia.
— The Star Online

Business outlook among Malaysian firms slips in Q1
The business outlook among Malaysian companies has slid further for the second consecutive quarter for Q1 2019.
— The Sun Daily

Future holds positive evaluations, prospects for Malaysian economy — Japanese Ambassador
Japan’s Ambassador to Malaysia, Dr Makio Miyagawa, says the near future holds positive evaluations and prospects for the Malaysian economy.
— The Edge Markets

Kayin raises offer price for Selangor Properties again to RM6.30 apiece
In a bid to sweeten the privatisation deal, Selangor Properties Bhd’s (SPB) largest shareholder Kayin Holdings Sdn Bhd has revised its offer price for SPB again, to RM6.30 from RM6 per share previously.
— The Sun Daily

Wen family further ups offer price to take Selangor Properties private
Selangor Properties Bhd’s major shareholder Kayin Holdings Sdn Bhd has again revised its proposed selective capital reduction and repayment offer price to RM6.30 from RM6 for each share to privatise the company.
— New Straits Times

pitchIN to raise RM16m from 16 campaigns this year
Equity crowdfunding (ECF) platform pitchIN is aiming to double the number of its fund raising campaigns to 16 this year from last year’s eight, through which it aims to raise at least RM16 million.
— The Sun Daily

Short-term rates to remain stable on BNM’s operations
Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.
— New Straits Times

Johor’s Iskandar Malaysia records RM32.23b in new investments
Johor’s Iskandar Malaysia has attracted a total of RM32.23 billion in new investments last year, said Iskandar Regional Development Authority (IRDA) chief executive Datuk Ismail Ibrahim.
— Malay Mail

Why Domino’s Malaysia decided to create a localised brand promise
Domino’s Pizza Malaysia has built a reputation for being a witty brand, especially on social media. However, what is not yet widely known by consumers is that the pizza brand has rolled out a new brand promise titled “It’s All About You”.
— Marketing Interactive

Malaysia warned as maritime tensions flare
Singapore warned Malaysia Monday it was ready to defend its interests after a flare-up of maritime tensions, the latest sign of fraying ties since a change of government in Kuala Lumpur.
— The Asean Post


Feature photo Bernard Spragg. NZ


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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