Malaysia Morning News For January 23

Malaysia to have fastest internet access speed in Southeast Asia — Wan Azizah
Malaysia is to have the fastest Internet access speed with the 5G platform in Southeast Asia via the Enhanced Malaysia International Internet Gateway (EM-IIG) High-Speed Broadband that is expected to be ready in 2022.
— The Edge Markets

Malaysia the first Asian country to initiate Alibaba programme
Malaysia will be the first Asian country, outside China, to initiate the Alibaba Netpreneur Training Programme from March 23 to April 3, 2019, which will complement the ongoing Electronic World Trade Platform (eWTP) initiatives in Malaysia.
— The Borneo Post

Malaysia ranks 12th among Viet Nam’s foreign investors in 2018
Malaysia ranked 12th among the countries and territories investing in Vi?t Nam in 2018 with total registered capital hitting US$435.54 million, according to the Vietnamese trade office in Malaysia.
— Viet Nam News

China to remain Malaysia’s largest trading partner
China will likely remain as Malaysia’s largest trading partner, looking at the current trend, said Deputy International Trade and Industry Minister Ong Kian Ming.
— The Star Online

Malaysia’s c.bank seen holding key o/n rate at 3.25 pct
Malaysia’s central bank will likely keep its benchmark overnight interest rate unchanged at 3.25 percent at a policy review on Thursday, a Reuters poll showed.
— Nasdaq

Singapore, Malaysia, Brunei Top ASEAN Countries In Global Talent Index
Singapore is topping the 2019 Global Talent Competitiveness Index in the Association of Southeast Asian Nations (ASEAN), as well as in Asia-Pacific for the sixth straight year, coming in second in the global rankings behind Switzerland and ahead of the US.
— Investvine

Malaysian finance firm eyes Singapore moneylending sector
MALAYSIAN financing firm RCE Capital is staking a claim on the Singapore moneylenders market via a S$40 million fund injection into a Singapore fintech that will, in turn, offer lower lending rates and encourage prompt debt repayment.
— The Business Times

Lim Guan Eng asks for patience as government restores Malaysia’s economy
“When the country’s fiscal position has been restored, we will slowly progress, and we hope that the people can have the patience,” Lim said while addressing Hindu devotees at the Penang Waterfall Hilltop Temple, in conjunction with Thaipusam celebrations.
— Channel NewsAsia

Malaysia’s Jan 1-20 palm oil exports rise 11.8% — AmSpec Agri
Exports of Malaysian palm oil products for Jan 1-20 rose 11.8% to 929,575 tonnes from 831,225 tonnes shipped during Dec 1-20, independent inspection company AmSpec Agri Malaysia said on Sunday.
— The Edge Markets

Malaysia to propose initiatives to combat corruption
Malaysia will propose two key initiatives pertaining to efforts to combat corruption globally at the International Association of Anti-Corruption Authorities (IAACA) conference that will be held from today until January 24 in Vienna.
— Borneo Bulletin

Singapore, Malaysia to meet on airspace, maritime issues soon
Singapore and Malaysia will meet soon to discuss airspace and maritime-related disputes as both sides seek to ease tensions that recently flared.
— The Edge Markets

eDotco, JTOWER tie up to advance next-gen telco solutions
edotco Group Sdn Bhd and Japan’s JTOWER Inc have entered into a strategic collaboration to advance the capabilities of their next-generation connectivity offerings in small cells telecommunications infrastructure, in-building network solution (IBS) and macro towers.
— New Straits Times

Malaysia cancels deal with China company, seeks new contractor for East Coast Rail Link
Malaysia is seeking a new contractor to build the East Coast Railway Link (ECRL), after terminating the original contract awarded to China Communications Construction Company (CCCC) on Tuesday (Jan 22), a source told The Straits Times.
— The Straits Times

Malaysia PM Mahathir cites Trump to defend Israeli athlete ban
Prime Minister Mahathir Mohamad on Tuesday (Jan 22) defended Malaysia’s ban on Israeli athletes, likening it to US President Donald Trump’s plan to build a wall along the US-Mexico border.
— Channel NewsAsia

Nestlé Skin Health Opens Office in Malaysia
Nestlé Skin Health, a global leader focused on enhancing quality of life by delivering science-based solutions for skin health, today announced the opening of a new office in Malaysia, which will help the company to accelerate growth in the region.
— Business Wire

Malaysia to focus on health not criminality in new drug policy
Malaysia’s new strategy to combat drugs will focus on health and social support for users rather than enforcing criminal laws.
— The Edge Markets

Explain why RM584m contract axed, Muhibbah JV tells Bintulu Port
Muhibbah Engineering (M) Bhd wants the Bintulu Port Authority to explain why it had cancelled the award of a RM584.84mil contract.
— The Star Online

BNM international reserves up 0.3% to US$101.7b as at Jan 15
Bank Negara Malaysia’s international reserves amounted to US$101.7 billion (RM420.6 billion) as at Jan 15, 2019, 0.3% higher than US$101.4 billion as at Dec 31, 2018.
— The Sun Daily

Caught in the trade war? Sign FTAs, Malaysia told
If there is one thing economists globally have agreed on over the past year, it is the global economy is not heading for a recession, at least not yet.
— The Edge Markets

EcoWorld launches home ownership with Maybank, Public Bank
EcoWorld Development Group Bhd launched its home ownership programme on Tuesday with Malayan Banking Bhd and Public Bank Bhd.
— The Star Online

Muhibbah Engineering seeks reason for Bintulu Port job termination
Muhibbah Engineering (M) Bhd’s 51%-owned Muhibbah Viccana JV has written to the Bintulu Port Authority to seek the reason for the termination of its supply base development project.
— The Sun Daily

Pantech sees 3Q gains from suspension of shipments to the US
Analysts attribute Pantech Group Holdings Bhd’s (Pantech) higher-than-expected results in its nine months of financial year 2019 (9M19) to an over-estimation of negative impact from suspension of shipments to the US.
— The Borneo Post

Graft cases on the rise in Malaysia because people no longer fear reporting them: PM Mahathir
Prime Minister Mahathir Mohamad said on Monday (Jan 21) corruption cases are on the rise in Malaysia because whistleblowers no longer fear reporting them.
— Channel NewsAsia

Malaysia’s Dec inflation rate seen picking up to 0.4% y-o-y
Malaysia’s consumer price index (CPI) was expected to rise 0.4% in December from a year earlier, a Reuters poll showed, slightly faster than the previous month.
— The Edge Markets

BSN disrupted banking system under remediation
Bank Simpanan Nasional’s (BSN) core banking system had a major disruption since 6.10 am on Jan 19 (Saturday), thus affecting its banking operations at all of its branches and automated banking channels, said its chairman, Tan Sri Abu Bakar Abdullah.
— The Borneo Post

Feature photo IAEA

This week’s Malaysia morning news feature photo acknowledges International Day of Education, January 24.

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.