Malaysia Morning News For January 7

Sultan Muhammad V steps down as Malaysia’s king
Malaysia’s king has abdicated, royal officials have said, ending weeks of speculation about his future.
— The Guardian

No need to panic over manufacturing sector plunge, says economist
There is no need for panic over a Nikkei survey finding that Malaysia’s manufacturing sector plunged to its lowest level since 2012, says an economist.
— FMT

Lim: 2019 a challenging year for Malaysia’s economy
2019 will be a challenging year for Malaysia’s economy. This is due to the on-going US-China trade war, geopolitical concerns in the Middle East, global monetary tightening and swings in oil prices, said Finance Minister Lim Guan Eng.
— Bernama

Malaysia remains committed that flights cannot use its airspace to land in Singapore’s Seletar Airport
Malaysia remains committed that any aircraft landings at the Seletar Airport in Singapore cannot utilise Malaysian airspace in Pasir Gudang, Johor.
— New Straits Times

November trade surplus narrows to RM7.6b as export growth slows down to 1.6%
Malaysia’s trade surplus declined 24% year-on-year to RM7.6 billion in November 2018 as export growth moderated to 1.6% while imports expanded 5%, according to the Statistics Department.
— The Sun Daily

CIMB offers six months paid maternity leave for first-time mothers
CIMB Group Holdings Bhd has announced a fresh benefit of six months paid maternity leave for its employees who become first-time mothers.
— New Straits Times

Southeast Asia, including Malaysia, wary of China’s Belt and Road project, sceptical of US
Southeast Asian countries should be cautious in negotiating with China on its flagship Belt and Road Initiative (BRI) to avoid being trapped in unsustainable debt, 70 percent of respondents said in a policy survey released on Monday.
— The Star Online

Malaysia’s monetary system healthy, stable: Lim
The domestic banking system continues to have sufficient liquidity while the monetary system is healthy and stable, said Finance Minister Lim Guan Eng.
— New Straits Times

Apple woes hit Malaysian tech players
Electronics manufacturing services companies that are involved in the Apple supply chain continue to bleed as sentiment toward these stocks takes a dive.
— The Star Online

2019: A year of adjustments and adaptation
After a turbulent 2018, 2019 promises to be a slightly better year for Malaysia’s corporate world, with the absence of uncertainties such as the general election held in 2018, the transition of power in the Federal Government, the introduction of several new policies, and others.
— The Borneo Post

Public Mutual launches PB Asia Consumer Sector Fund
Public Bank’s unit, Public Mutual, launched its PB Asia Consumer Sector Fund (PBACSF) on Jan 3, 2019.
— The Star Online

Equity and forex investors still adopting wait-and-see approach
With traders and investors still on their New Year’s break, the local equity and foreign exchange markets are still adopting a ‘wait-and-see approach’ but the underlying sentiment remains intact.
— The Borneo Post

About 1.34 mln ha oil palm plantations are MSPO-certified
Some 23 per cent or 1.34 million hectares out of 5.8 million hectares of oil palm plantations in the country have been certified under Malaysian Sustainable Palm Oil (MSPO) as of November 2018.
— The Borneo Post

LBS Bina sets RM1.5b sales target for 2019
Property developer LBS Bina Group Bhd has set a sales target of RM1.5 billion for 2019 as the company will launch new projects with an estimated gross development value (GDV) of RM1.82 billion this year.
— The Sun Daily

Digi, MPay, Mastercard partner for new digital payment
Digi Telecommunications Sdn Bhd (Digi) announced its partnership with ManagePay Systems Bhd (MPay) and with Mastercard as a supporting payments technology partner, to offer a new payment proposition to meet the fast-evolving needs of Malaysia’s growing online community.
— The Borneo Post

MALAYSIA’S KING ABDICATES IN UNEXPECTED AND RARE MOVE
Malaysian King Sultan Muhammad V has abdicated after just two years on the throne.
— Khaosod English

Southern Thai Peace Talks: Malaysian Broker Says Violence Can End in 2 Years
After their first official meeting in Bangkok on Friday, the Malaysian facilitator of southern Thai peace talks and Thailand’s negotiating team said they hoped to end the separatist conflict within two years but granting regional independence was off the table.
— Benar News

Construction sector to face lacklustre contract flows
The construction sector is set to face lacklustre contract flows in the first half of current year 2019 (1H19), analysts project in a sector update.
— The Borneo Post

Vietnam’s Viettel in talks to buy stakes in Malaysian telcos
Vietnam’s largest telecommunication company, Viettel, is seeking to double its five million subscribers in Myanmar by the end of the year and is also holding talks with Malaysian telecommunication companies to buy stakes, its president and chief executive officer Le Dang Dung told Reuters an in interview on Friday.
— The Star Online

MALAYSIA CONFIRMS NEW DEBRIS LIKELY FROM MH370
Some of the new debris from MH370 that was found on Madagascar last year has been confirmed by Malaysian authorities as likely from the lost Boeing 777.
— Airline Ratings

I went through proper channels when questioning appointments, insists Azmin
KAJANG: PKR deputy president Mohamed Azmin Ali today insisted that he had gone through the proper channels when questioning the appointment of several party leaders, including that of Rafizi Ramli.
— FMT

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