Malaysia morning news for January 31

Malaysia morning news for January 31
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Malaysia morning newsBank Negara launches RM1bil fund for B40 to buy house
Bank Negara Malaysia has launched a RM1 billion fund for affordable home ownership for those earning RM2,300 and below.
— New Straits Times

Poverty line in Malaysia should be 3 times higher, says expert
An economist has called for greater access to data for independent researchers in the field of poverty and inequality, saying this is crucial to gauging government policies and mapping out effective anti-poverty plans.

Malaysia’s finance minister says $20 billion rail project negotiations ongoing
Malaysia’s decision on the $20-billion East Coast Rail Link (ECRL) is still under discussion and negotiations are now at the government-to-government level, finance minister Lim Guan Eng said on Wednesday.
— Reuters

Trafficking Camps, Mass Graves: Malaysia to open royal inquiry
Malaysia will set up a Royal Commission of Inquiry to investigate the existence of human trafficking camps and the graves uncovered three years ago in the hilly area of Wang Kelian, which borders Thailand.
— The Daily Star

Malaysia lets Goldman decide how much of US$7.5b bank wants to pay
Govt will let Goldman decide how much to pay of the US$7.5 billion that the country is seeking for the bank’s role in 1MDB, Tony Pua, political secretary to the finance minister, said to reporters in Kuala Lumpur.
— The Edge Markets

Malaysia fines Deloitte for breaches linked to 1MDB
Malaysia’s securities regulator on Wednesday (Jan 20) said they had fined Deloitte for committing four breaches related to a 2.4 billion ringgit (US$584.7 million) sukuk program issued by a firm linked to scandal-tainted state fund 1MDB.
— Channel NewsAsia

Sarawak attracts RM137.3b worth approved manufacturing projects as at Sept 2018
Malaysian Investment Development Authority (MIDA) has approved a total of 1,120 manufacturing projects with investments worth RM137.3 billion in Sarawak as at September 2018.
— New Straits Times

After GE14 euphoria, Malaysia’s business and consumer confidence tumbles
Malaysian consumers and businesses expressed lower optimism in the second half of 2018 following an extraordinary spike in confidence attributed to the historic outcome of the 14th general election, according to a survey.
— Malay Mail

Govt’s economic, anti-corruption policies will drive 2019’s business performance
The new government’s several policies addressing economic and anti-corruption themes will drive Malaysia’s business performance in 2019.
— The Borneo Post

Media Prima beats Google & Facebook as Malaysia’s most popular choice for mobile content
Media Prima Bhd, an integrated media group, has surpassed Google and Facebook as the most popular choice for mobile content among Malaysians.
— New Straits Times

Bursa Malaysia’s FY18 net profit up to RM224 million
Bursa Malaysia Bhd’s net profit for the financial year ended Dec 31, 2018 increased slightly to RM224.04 million from RM223.04 million recorded in the same period last year.
— The Borneo Post

After levying safeguards against China and Malaysia, India plans smaller solar plants
India will issue a new, smaller tender to encourage local manufacturing of solar energy equipment after scrapping a larger maiden bid that received poor investor response.
— The Star Online

Malaysia’s CPI score should see big jump next year: Kit Siang
Malaysia’s slight improvement in the 2018 Transparency International’s Corruption Perceptions Index (CPI) score and ranking is disappointing but the country is likely to see a big jump next year, Lim Kit Siang (pix) said today.
— The Sun Daily

SC raps, fines Deloitte RM2.2m over Bandar Malaysia RM2.4b sukuk
The Securities Commission Malaysia (SC) has reprimanded and imposed penalties on Deloitte PLT (Deloitte) for four breaches related to the RM2.4bil Sukuk Murabahah Programme issued by Bandar Malaysia Sdn Bhd (BMSB) in 2014.
— The Star Online

Bintulu Port Holdings’ AA1 rating reaffirmed
RAM Ratings has reaffirmed the AA1/Stable/P1 corporate credit ratings of Bintulu Port Holdings Bhd (BPHB), premised on the port operator’s healthy financial performance, along with continued strong support that the group enjoys from both the federal and state governments.
— The Borneo Post

Soft demand and oversupply to be a recurring theme for oil in 2019: OCBC Bank
Global oil prices are expected to remain bearish in the first-half of the year before rebounding slightly in the next six months, OCBC Bank said.
— New Straits Times

Lotte Chemical’s earnings fall to RM786m in FY18
Lotte Chemical Titan Holding Bhd experienced a 26.12% drop in net profit for the financial year ended Dec 31, 2018, to RM786.23mil from RM1.06bil previously as it suffered a margin squeeze across its product segments.
— The Star Online

Westports’ Q4 net profit down 31%
Westports Holdings Bhd’s net profit in the fourth quarter ended Dec 31, 2018 (Q4FY18) tumbled 31% to RM145.54 million, from RM210.98 million a year ago, due to lower effective tax rate in FY17 due to investment tax allowance (ITA) claim.
— The Sun Daily

BCorp buys 4.6pct of Berjaya Land for RM87.4mil
Berjaya Corp Bhd (BCorp) and its wholly-owned subsidiary Juara Sejati Sdn Bhd have entered into an agreement with Penta Master Fund Ltd, PCM Industrial LP and Penta Asia Long/Short Fund Ltd to buy 4.61 per cent of Berjaya Land Bhd (BLand) for RM87.4 million.
— New Straits Times

EA Technique shares jump 13.9% after it drops arbitration case
EA Technique (M) Bhd’s share price jumped 13.95% or 6 sen today after dropping its arbitration proceedings against Amaniaga Resources (M) Sdn Bhd yesterday, following the RM600,000 settlement agreed upon by both parties.
— The Sun Daily

Myanmar migrants’ long journey to Malaysia halted in Chumphon
Police and soldiers in Chumphon on Tuesday night arrested 37 people from Myanmar who were waiting to be taken onward to Malaysia.
— The Nation (very annoying popup)

Groups urge release of minors held under preventive detention law
Authorities must free over 140 minors currently detained under the Prevention of Crime Act (Poca) that permits them to be held without trial, said Suaram and Suhakam today.
— Malay Mail

Underwater lion dance in Malaysia before Chinese New Year
Divers performed an underwater lion dance in a Malaysian aquarium on Wednesday (Jan 30) as fish and sharks swam around them, putting a new twist on the traditional Chinese New Year performance.
— Channel NewsAsia

Singapore–Malaysia relations in troubled waters
Having returned to the Malaysian prime ministership, Mahathir Mohamad is implementing a much-welcomed reform agenda and correcting governance ills introduced during his earlier reign.
— East Asia Forum

Malaysian company spends $200M on Perth, Australia, hotel
Malaysia’s YTL Corporation is gaining ground in Australia. Perth-based developer and construction group BGC has sold the Westin Perth to two subsidiaries within YTL’s hotel division, Starhill Hotel (Perth) and Starhill Hotel Operator (Perth) for more than $200 million.
— Hotel Management

New era for Malaysia ‘but we have not seen the sunlight’
Malaysia is seen lacking in concrete ideas and clarity on economic policies amid administrative flip-flops eight months after the Pakatan Harapan took over the government.
— The Edge Markets


Feature photo Wikimedia


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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