Malaysia Morning News For May 1

Over 30% increase in unsold residential properties in Malaysia
The year-on-year residential overhang in Malaysia increased to 32,313 units valued at RM19.86bil in 2018, an increase of 30.6% in volume and 27% in value, according to the Valuation and Property Services Department (JPPH).
— The Star Online

Malaysia’s fresh produce traders cry foul over May 1 deadline for safety certification to export to Singapore
Malaysia’s exporters of vegetables and fruits are finding it difficult to meet a May 1 deadline imposed by the Health Ministry for safety certification before they can transport their produce to Singapore.
— Channel NewsAsia

Malaysia’s reserves at US$103 billion at end-March 2019
Malaysia’s reserves remained usable as at end-March 2019, with official reserve assets at US$103.01 billion (RM426.19 billion), in accordance with the International Monetary Fund’s Special Data Dissemination Standard format.
— New Straits Times

Petronas eyes Americas to raise oil reserves
Malaysia’s state-owned oil company is banking on the Americas to help raise reserves and maintain production rates as wells in its Southeast Asian home market continue their natural declines.
— The Star Online

F&N says ready to implement sugar tax
Fraser & Neave Holdings Bhd (F&N) is ready to implement the sugar tax to be introduced on July 1, says chief executive officer Lim Yee How.
— New Sarawak Tribune

Malaysia ranked 39th in a list of the world’s 50 sexiest accents – and Singapore didn’t even make the cut
As it turns out, Malaysians’ voices are more melodious than their counterparts in China, Japan and Thailand, according a poll published by travel site Big 7 Travel on Sunday (April 28).
— Business Insider

Kids in Malaysia are watching porn
Late in March, a Malaysian non-governmental organisation called Malaysians Against Pornography (MAP) made a startling discovery regarding pornography consumption among children in Malaysia.
— The Asean Post

Malaysia destroys 4 tons of ivory tusks, products
Malaysia on Tuesday destroyed nearly 4 tons of elephant tusks and ivory products estimated to be worth $3.2 million as part of its fight against the illegal ivory trade.
— Newyork post

Americans keen to invest and expand their businesses in Malaysia
The American Chamber of Commerce in Malaysia (AmCham) expect more American corporates to invest in Malaysia following ON Semiconductor’s commitment to spend RM1 billion to expand its factory in Negeri Sembilan.
— New Straits Times

China infrastructure initiative to spur return of foreign funds to Malaysia
Foreign fund inflows are expected to return in the third quarter of the year, driven by China’s Belt and Road Initiative, according to Rakuten Trade.
— The Sun Daily

Malaysia to strengthen defence cooperation with Iran
Malaysia and Iran are taking steps to fine-tune security and defence cooperation involving both countries.
— Malaysiakini

E-sports development gathers pace in Malaysia and Thailand
E-sports’ debut at the upcoming 2019 SEA Games has put the spotlight on the sports’ budding national infrastructures in South-east Asia, with Malaysia and Thailand making key strides lately.
— The Straits Times

Malaysia a fine example of how a country can develop when properly run: Polish envoy
Malaysia is a fine example of how a country can develop when it is properly administered, said Polish Ambassador to Malaysia Krzysztof Debnicki. He noted that Malaysia, once considered a poor country post-Second World War, had developed in leaps and bounds to what it is today.
— The Sun Daily

Dr M: Civil servants must be neutral, serve people and country
Civil servants must take a neutral stand and respect the decision of the people’s choice of government, says the Prime Minister.
— The Star Online

MCMC nabs duo for insulting Islam, Prophet Muhammad and wife on Facebook
The Malaysian Communications and Multimedia Commission (MCMC) have detained two individuals for uploading offensive material on Facebook about the Prophet Muhammad, his wife Aisyah, and Islam.
— Malay Mail

Ringgit outlook boosted on economic, trade developments
The ringgit opened slightly higher today with investors positive on its outlook, said a dealer.
— The Star Online

FT: Goldman chief says hasn’t discussed 1MDB settlement with US Justice Dept
Goldman Sachs has not negotiated a settlement with the US Justice Department (DoJ) over the investment bank’s role in the 1MDB global corruption scandal, its chief executive and chairman David Solomon said.
— Malay Mail

Foreign fund inflows to return in Q3, says Rakuten Trade
Foreign fund inflows are expected to return in the third quarter of the year, driven by China’s Belt and Road Initiative, according to Rakuten Trade.
— The Sun Daily

Gov’t allocating RM8.6m to FT mosques and suraus
The government has allocated RM8.6 million to mosques and surau in the Federal Territories of Kuala Lumpur, Putrajaya and Labuan, in conjunction with Ramadan.Minister in the Prime Minister’s Department Datuk Seri Dr Mujahid Yusof Rawa said the allocation was to assist in their.
— The Sun Daily

Dr M: I will try not to let the nation flounder and fall, and lose dignity
KUALA LUMPUR, April 30 ― Tun Dr Mahathir Mohamad yesterday said he will try not to allow this nation to flounder and fall, to lose dignity and sense of purpose, for long as he lives. The prime minister said he was aware that the challenges seemed…
— Malay Mail

Social media and smartphones important in spreading news: Gobind
There is a need for the quick dissemination of news as social media continues to grow, according to Multimedia and Communications Minister Gobind Singh Deo (pix).
— The Sun Daily

Why should Malaysia join international conventions?
Despite the Foreign Affairs Ministry having given the green light, signing the Rome Statute was not so straightforward – and barely a month after, we pulled out of it.
— The Star Online

PH implemented various initiatives for Muslims – Dr Mahathir
Prime Minister Tun Dr Mahathir Mohamad said the government today had implemented various initiatives for Islam and Muslims in the country. He denied that Muslims under the Pakatan Harapan (PH) were threatened and those people who claimed that the voice ‘defending Islam’.
— The Borneo Post

No automatic citizenship for those born in Malaysia, says Muhyiddin
Being born in Malaysia does not allow an individual to automatically obtain Malaysian citizenship, Home Minister Tan Sri Muhyiddin Yassin said.
— Malay Mail

Lowest foreign net outflow in 16 weeks
Offshore investors sold RM72 million net of local equities last week, marking the lowest weekly foreign net outflow in 16 weeks, said MIDF Research.In its fund flow report, the research house said that selling was at a measurable pace last week, although foreign investors remained.
— The Sun Daily

Taiwan Excellence gamed for e-sports business
In light of the growing interest in e-sports, Taiwan Excellence, which represents the best of Taiwanese innovation, is showcasing Taiwan’s strength in the ICT industry at the Taiwan Excellence Hi-Tech Week at Plaza Low Yat this week.
— The Sun Daily

Former minister’s special officer arrested for taking RM1.8m in kickbacks
An ex-special officer to a former Cabinet minister was arrested today by the Malaysian Anti-Corruption Commission (MACC) for allegedly taking kickbacks for a RM1.8 million aircraft parts supply contract two years ago.
— The Sun Daily

Maybank lifts KLCI amid muted investor activity
The FBM KLCI was lifted 3.32 points to 1,640.72 on Tuesday morning on the strength of the index’s most heavily weighted counter, Maybank.
— The Star Online

With 45,000 public varsity spots, are STPM grads losing out to 40,000 matriculation students?
An average of 45,000 places in public universities were offered for undergraduate study in the past two years, even as the matriculation programme’s intake has just been raised to 40,000 students.
— Malay Mail

Luxchem Q1 net profit dips to RM9.59m
Industrial chemicals supplier Luxchem Corporation Bhd’s net profit dipped by 0.32% to RM9.59mil from RM9.63mil a year ago.
— The Star Online

Public Bank sustains earnings growth
Public Bank Bhd’s net profit for the first quarter ended March 31 rose marginally to RM1.410 billion from RM1.405 billion a year ago driven by healthy loan and deposit growth.
— The Sun Daily

National Social Council raises need for ministries involvement in fulfilling agreements
The National Social Council in its meeting today raised the need for all ministries to be involved in fulfilling government agreements at the international level.
— The Sun Daily

SRC trial: Najib’s fixer Habibul Rahman says RM2.5m cheque for BN’s political and intelligence efforts, not ‘defence contract’
A RM2.5 million cheque issued from Datuk Seri Najib Razak’s account purportedly for an unspecified defence contract in 2015 was used as reimbursement for Barisan Nasional’s political activities and intelligence.
— Malay Mail

SaigonBank Berjaya Securities partners Thai brokerage company
SaigonBank Berjaya Securities JSC (SBBS) and Thailand’s KT ZMICO Securities Co Ltd (KTZ) are teaming up to provide corporate advisory services to clients from partner countries.
— The Sun Daily

Malaysian Axiata Digital sells its Digital Ventures portfolio valued at US$140M
The sale includes ownership stake in some notable businesses Axiata Digital Sdn. Bhd. (AD), the digital services arm of Axiata Group Berhad (Axiata), announced that it has agreed to sell its Digital Ventures portfolio at a valuation of USD 140 million.
— e27

Minister: FT Ministry will look into Labuan industry players’ grouses
Federal Territories Minister Khalid Abdul Samad says his ministry would look into the various issues plaguing industry players on the island.
— Malay Mail

Bursa Malaysia Q1 net profit down 26.5% on lower operating revenue
Bursa Malaysia Bhd’s net profit for the first quarter ended March 31, 2019 fell 26.5% to RM46.86 million from RM63.78 million a year ago due to a 16.2% drop in operating revenue to RM121.4 million from RM144.8 million a year ago.
— The Sun Daily

‘As long as I am alive, I won’t let Malaysia fall’: PM Mahathir
Malaysia Prime Minister Mahathir Mohamad on Monday (Apr 29) said he will not allow Malaysia to flounder and fall, for as long as he lives.
— Channel NewsAsia

Foreign funds may return to Malaysian market by Q3
Foreign funds will possibly make their way back to Malaysia by the third quarter of this year to take advantage of the current reasonable valuation and cheap ringgit, says online equity broker Rakuten Trade.
— The Star Online

Malaysia’s Oil Giant Looks to Americas to Increase Oil Reserves
Malaysia’s state-owned oil company is banking on the Americas to help raise reserves and maintain production rates as wells in its Southeast Asian home market continue their natural declines.
— Bloomberg

Penang govt withdraws bid for leave to appeal against EC’s redelineation exercise
The Penang government has withdrawn its application to seek leave to appeal in the Federal Court against the Election Commission (EC)’s redelineation exercise of electoral boundaries.
— The Sun Daily

Malaysian LGBT+ activist accuses authorities of intimidation
A leading Malaysian LGBT+ activist on Monday accused authorities of intimidation after a statement he read to the U.N. Human Rights Council led to him being questioned by police.
— Reuters

BAE Systems continues supporting Malaysia for LCA enhancement programme
BAE Systems plc, the British multinational defence, security, and aerospace company, would continue supporting Malaysia to keep its light combat aircraft (LCA) ‘relevant’ and ‘effective’ in the next 15 to 20 years with updated capabilities.
— New Straits Times

Qatar-Malaysia trade, economic ties set to witness major boost
Qatar-Malaysia bilateral trade and economic relations are set to witness major boost in the coming years as both sides are working aggressively to expand cooperation.
— The Peninsula Qatar

Malaysia’s online hiring up 16%, led by IT and ISP sectors
Malaysia’s online hiring activity registered a spike of 16% at the end of the first quarter this year, according to the latest Monster Employment Index (MEI).
— FMT

Indonesia to move capital city, may take 10 years like Malaysia
Indonesian President Joko Widodo has decided to move the capital of Southeast Asia’s largest economy away from the crowded main island of Java, the planning minister said on Monday.
— The Star Online

Teresa Kok announces RM5m for B10 biodiesel insurance
The federal government has allocated RM5 million insurance for vehicles fuelled with B10 biodiesel, which contains 10 per cent palm oil.
— Malay Mail

Technology Park Malaysia – A smart city opportunity
The Technology Park Malaysia (TPM) is a science park located in Bukit Jalil, Kuala Lumpur, established in 1996.
— The Investor

Feature photo Borneo Jazz

This week’s Malaysia morning news feature photo acknowledges International Jazz Day, April 30.

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.