Malaysia Morning News For March 27

Cashless system can reduce corruption, says Guan Eng
Utilising the cashless system in the country can reduce corruption, said Finance Minister Lim Guan Eng.
— New Straits Times

FOREIGN COMPANIES EXPRESS INTEREST IN MALAYSIA AIRLINES
The head of a key advisory council to Malaysian Prime Minister Mahathir Mohammad says companies from Europe, Asia and the Middle East are interested in investing in Malaysia Airlines Berhad.
— Airlines Ratings

Malaysia needs to lower electricity and gas prices to reflect international market
Medical glovemakers urge the government to lower gas and electricity tariffs, in view of substantial drop in liquefied natural gas (LNG) and coal in the international markets.
— New Straits Times

Civil service needs more than desk files, work procedure manuals
After 30 years, desk files (fail meja), work procedure manuals (manual prosedur kerja) and flow charts (carta aliran tugas) are making a comeback. I still vividly remember when all this was first introduced in the early 1980s to enhance efficiency and work flow in the civil service.
— FMT

Rohingya genocide taking financial toll on M’sia, says foreign minister
The Rohingya genocide in Myanmar has taken a financial toll on Malaysia, said Foreign Minister Saifuddin Abdullah.
— Malaysiakini

Aid for Rohingya costing taxpayers millions, says foreign minister
Foreign Minister Saifuddin Abdullah says the government is committed to supporting displaced Rohingya refugees but warns that humanitarian aid is costing millions in taxpayers’ money.
— FMT

Guan Eng: Malaysia’s credit rating shows institutional, fiscal reforms working
Malaysia’s institutional and fiscal reforms based on the principles of competency, accountability and transparency are already bearing fruit, said Finance Minister Lim Guan Eng.
— Malay Mail

Govt targets RM16b revenue from aerospace industry this year
The government aims to generate up to RM16 billion in revenue from the aerospace industry this year, says International Trade and Industry Minister Datuk Darell Leiking.
— New Straits Times

No sign of the tourism money
Tawau MP Datuk Christina Liew (pic), while welcoming Finance Minister Lim Guan Eng’s earlier announcement that the Federal Government will distribute 50pc of last year’s tourism tax revenue to all State Governments, said the Sabah Government has yet to receive its share.
— Daily Express

PM: Many countries eager to invest in Malaysia
Many countries, including leading nations in Europe, are keen to invest in Malaysia and set up various joint ventures, including in the aerospace sector.
— New Straits Times

Look East Policy graduates fired up to jump-start Malaysia for industry 4.0
Malaysian graduates of Japanese universities under the country’s Look East Policy initiated by Prime Minister Tun Dr Mahathir Mohamad in 1982 are fired up to move the country into the technology of the 21st century in line with Industry 4.0.
— The Edge Markets

Dragon Fruit Farm in Sepang: Drop by and purchase some
There’s a dragon fruit farm near Sepang, not far from Kuala Lumpur’s International Airport. It is called Multi Rich Pitaya, “pitaya” being another name for Dragon Fruit.
— FMT

Off the beaten path school holiday ideas in Malaysia
While hanging out at malls during the school holiday is a great way to escape the heat, there’s nothing like outdoor fun to bring the family closer together. But chances are the usual popular haunts will be packed during this period.
— Star2

SIG Gases gets RM226.59m offer for unit
SIG Gases Bhd (Siggas) has received an offer from Air Liquide Malaysia Sdn Bhd (ALM) to acquire its entire equity interest in Southern Industrial Gas Sdn Bhd (SIGSB) for RM226.59 million.
— The Edge Markets

Giant river prawns make up for poor fishing in Malaysia drought
Despite being forced to reduce fishing activities during the day, inland fishermen in Kampung Ujung Padang, Sungai Muda in the Malaysian state of Kedah can still generate income by catching giant river prawns at night.
— Channel NewsAsia

Reality check for Malaysia-born stateless children on ‘special citizenship’ route
Parents have been told that they can apply for citizenship for their stateless Malaysia-born children using a special pathway under Article 15A of the Federal Constitution, but how does this play out in the real world?
— Malay Mail

Looking East: The Evolution of Pakistan-Malaysia Economic Ties
When Pakistan’s Prime Minister Imran Khan last met Malaysian Prime Minister Mahathir Mohamad, ample praise for each other’s election victories took center stage. A rich history of close cooperation – including Pakistan’s contribution to drafting Malaysia’s constitution – fueled prospects of a wide-ranging strategic economic partnership.
— The Diplomat

Concerns raised about impending slower growth in Malaysia
While the Malaysian economy may not be as sluggish as initially feared, there is little optimism that the country will be able to do better than last year.
— The Star Online

At LIMA, Dr M sees Malaysian aerospace soaring to new heights
The aerospace industry here will keep growing courtesy of RM816.3 million in approved investments approved last year, Prime Minister Tun Dr Mahathir Mohamad said today.
— Malay Mail

Vietnam naval ship in Malaysia for exhibition, drill
A Vietnamese warship docked in Malaysia Monday for an international maritime and aerospace exhibition and a joint naval exercise with ASEAN countries.
— VnExpress

Malaysia’s economy sees tepid growth in Q12019
Malaysia is expected to post tepid economic growth in the first quarter of the year with a slight recovery in the second quarter, MIDF Research said.
— New Straits Times

Billionaire Ananda Krishnan’s Bumi Armada near RM2bil loan deal
Malaysian billionaire T. Ananda Krishnan’s Bumi Armada Bhds nearing an agreement for a loan of around RM2.034bil, sources said, in a deal that will give the embattled energy firm more time to restructure.
— The Star Online

Maybank IB initiates coverage on Straits, Buy with TP of 38.5 sen
Maybank Investment Bank Research has initiated coverage on bunkering firm Straits Inter Logistics Bhd with a Buy recommendation at a target price of 38.5sen.
— The Star Online

PAC, a key watchdog in Malaysia’s parliament, in turmoil amid controversy over its chairman
A key watchdog committee in Malaysia’s Parliament is in turmoil after several members resigned to protest a decision by Prime Minister Mahathir Mohamad to retain a lawmaker as its chairman after he defected from Umno to a Pakatan Harapan (PH) party.
— The Straits Times

Malaysia: China Offers to Reduce Cost of Major Project by $2.45 Billion
The Chinese government has offered to reduce the cost of the controversial East Coast Rail Link in Malaysia under Beijing’s Belt and Road Initiative by $2.45 billion from its original $20 billion, the South China Morning Post reported March 25.
— World view

AirAsia Group owes TIA Rs 194m, requests the airport to waive some of the dues
AirAsia Group is owing Tribhuvan International Airport (TIA) Rs 194 million, of which around Rs 130 million is related to late fees, according to a newsreport.
— New Straits Times

MAHB continues to improve airport network connectivity
Malaysia Airports Holdings Bhd (MAHB) is intensifying its efforts to improve airport network connectivity and promote inbound tourism into Langkawi, via the Langkawi International Airport (LGK).
— New Straits Times

Missing – notice of seizure at Jho Low’s house
The notice of seizure on the RM25 million (S$8.29 million) bungalow owned by fugitive businessman Low Taek Jho’s mother in Tanjung Bungah Park has gone missing.
— Asia One

Hostile takeover of highways unlikely: Research house
The government is unlikely to exercise the expropriation clause in the concession agreements which would lead to a hostile takeover of the four highways under Gamuda Bhd, said TA Research.
— The Sun Daily

The State of the Nation: Leveraging Malaysia’s grey power in the workplace
FOR 65-year-old retiree Balan, who had spent more than 30 years working in the aviation industry, staying at home without a job was a dreadful experience.
— The Edge Markets

RAM BCI shows recovery in construction sentiment
Business sentiment among corporates and small and medium enterprises (SMEs) in the construction sector showed nascent recovery in the second and third quarters (Q2-Q3) of the year, according to the latest RAM Business Confidence Index (RAM BCI) survey released yesterday.
— The Borneo Post

Chances high Malaysia may buy China jets, says ‘impressed’ trade minister
Amid the kick-off of the 5th Langkawi International Maritime and Aerospace Exhibition 2019 (LIMA), International Trade and Industry Minister Datuk Ignatius Darell Leiking indicated the possibility for Malaysia to buy fighter jets from China has increased.
— Malay Mail

Lim refutes rumours of RM50 bill replacement
Finance Minister Lim Guan Eng has refuted rumours which have gone viral on social media that the current RM50 bill would be replaced by the RM60 commemorative note.
— The Star Online

VS Industry posts RM38mil profit in Q2
VS industry Bhd said its performance in the second half of financial year ending July 31, 2019 (FY19) won’t be as bad as it had earlier expected on improved order pipeline visibility.
— The Star Online

Margma calls on TNB, Gas Malaysia to revise natural gas tarif
The Malaysian Rubber Glove Manufacturers Association (Margma) has called for a revision of the natural gas tariff following the sharp fall of liquefied natural gas (LNG) and coal prices in recent months.
— The Sun Daily

Islamic financing to grow 10-11% this year: RAM Ratings
Financing growth of the Islamic banking sector is expected to come in at around 10-11% this year, with Islamic financing still anchoring the growth of the overall Malaysian banking sector.
— The Sun Daily

SapuraEnergy returns to the black with RM207.55 million FY19 net profit
Sapura Energy Bhd has returned to the black with a net profit of RM207.55 million for the financial year ended Jan 31, 2019 (FY19) compared with a net loss of RM2.5 billion in the preceding year.
— The Borneo Post

Feature photo Randy Tan Travelogue

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