Malaysia Morning News For May 23

Malaysian banks well placed to manage weakening economy
Malaysian banking system remains stable, as strong loss-absorbing buffers should mitigate a potential rise in credit costs and moderating profitability over the next 12-18 months, according to Moody’s Investors Service.
— The Star Online

Survey: KL fifth most expensive city to buy a car, but petrol here among cheapest
Malaysia’s capital is the fifth most expensive city to buy a new mid-size car when compared against 54 other cities globally, but ironically has the fourth cheapest petrol prices, a survey has shown.
— Malay Mail

12 Malaysian universities to award over RM11.4mil in scholarships to Palestinians undergraduates and postgraduates residing in Malaysia
Palestinian students pursuing their undergraduate, postgraduate and post-doctoral degrees in 12 Malaysian universities stand to receive almost RM11.5mil in scholarships via the Palestinian Cultural Organisation Malaysia (PCOM), said Prime Minister Mahathir Mohamad. Among the 12 universities are …
— The Online Citizen

Health Ministry rubbishes rumours of monkeypox outbreak in Malaysia
The Health Ministry has rubbished rumours that there is an outbreak of monkeypox in the country.
— The Star Online

NGO wants Putrajaya to stop Malaysian’s execution in Singapore
Amnesty International Malaysia urged Putrajaya to intervene in a Malaysian’s scheduled execution for drug possession in Singapore this Friday.
— Malay Mail

Report on water disruption in Klang completed within a month: SPAN
The investigation on unscheduled water supply disruption in the Klang district following the rupture of three main pipes near the project site for the construction of the Banting-Taiping West Coast Expressway (WCE) is expected to be resolved in another month’s time, said the National .
— The Sun Daily

Upgrading Pangkor Airport? Develop island too, say tourism industry players
Tourism industry players in Perak have welcomed the government’s plan to upgrade Pangkor Airport, but also hope that the promotions and developments on the island are up to standard and in accordance with the move.
— Malay Mail

Malaysian tech stocks down after US blacklists Huawei
Technology counters on Bursa Malaysia are feeling the heat following the escalation of trade tensions between the United States and China with restrictions imposed by the Trump-led administration against China’s telecommunication giant Huawei.
— The Star Online

Cleaning up corruption in Malaysia goes beyond Najib
For those of us who have spent years on the front lines of the fight against corruption in Malaysia, last month marked an historic first. Former Prime Minister Najib Razak finally faced trial in one of the dozens of cases against him. Najib has been accused of syphoning off hundreds of millions of dollars of public funds from the 1MDB sovereign wealth fund into his own personal accounts.
— Aljazeera

IOI Q3 earnings lower on absence of disposal gains
Plantation group IOI Corp Bhd’s third-quarter net profit to end-March plunged 88.1% to RM245.8mil from RM2.1bil a year ago, on the absence of disposal gains during the period.
— The Star Online

Putrajaya making efforts to help M’sian scheduled for execution in S’pore
The government is seeking ways to help a Malaysian who is scheduled to be hanged in Singapore on Friday for drug trafficking, said Foreign Minister Datuk Saifuddin Abdullah.
— The Sun Daily

97pc of Sarawak’s rural households to get 24-hour electricity next year
Sarawak Energy Bhd is committed to ensuring 97 per cent of the state’s rural households will get round-the-clock electricity supply by next year from 91 per cent currently.
— Malay Mail

Loke: Malaysia receives various proposals for RTS
The Malaysian government has received various proposals from private investors for the Rapid Transit System (RTS) Link Project, according to Transport Minister Anthony Loke Siew Fook.”Yes, we are in talks with some private investors. There are various proposals.
— The Sun Daily

Velesto Energy posts RM22.21m net loss in Q1
Velesto Energy Bhd posted a net loss of RM22.21 million for the first quarter ended March 31, 2019 from RM5.02 million registered in corresponding quarter of 2018 attributed to net foreign exchange gain of RM18.2 million recorded in the prior year corresponding period which resulted .
— The Sun Daily

Police to hunt down loan sharks who charge sky-high interest rates, harass clients
The police will come down hard on illegal money lenders or loan sharks for charging exorbitant interest rates and harassing their clients turned victims. Sarawak Commercial Crime Investigation Department (CCID) chief Supt Mustafa Kamal Gani Abdullah said from Jan to May 20 this year,
— The Borneo Post

Penang CM dismisses call to extend public display of reclamation EIA report
The public display of the Penang South Reclamation (PSR) environmental impact assessment (EIA) report will not be extended, state Chief Minister Chow Kon Yeow said today.
— Malay Mail

Sabah’s first resort auxiliary police graduate
Sutera Harbour Resort became the first resort in Sabah to be granted an auxiliary police unit by the Royal Malaysia Police on June 29, 2018. The first batch of 12 staff were sent for intensive training, which includes martial arts, firearms training, physical exercise and learning .
— The Borneo Post

Survey shows iPhone XS cheaper in KL than Singapore, branded sneakers among cheapest worldwide
Malaysia is one of the cheapest places to buy an iPhone XS and even edges out Singapore marginally in terms of price, according to Deutsche Bank’s latest annual survey covering 56 cities around the globe.
— Malay Mail

UMW first quarter earnings up by 17%
UMW Holdings Bhd’s net profit for its first quarter ended March 31 rose 17% to RM86.50mil from RM74.08mil in the previous corresponding period, driven by the better performance of its automotive and manufacturing and engineering (M&E) segments.
— The Star Online

In its fourth year, Malaysians for Malaysia continues to celebrate diversity at inclusive breaking fast event
Now entering its fourth year, the Malaysians for Malaysia movement said today it plans to continue working towards uniting fellow citizens even amid challenging ethnic and religious ties here.
— Malay Mail

Barakah Offshore slips into PN17 over payment default
Barakah Offshore Petroleum Bhd has become a Practice Note 17 (PN17) company after it failed to make instalment payments to Export-Import Bank of Malaysia Bhd (Exim Bank) and was unable to provide a solvency declaration to Bursa Malaysia Securities Bhd.
— The Sun Daily

M’sians advised to avoid hot spots in Jakarta as riots rage
Malaysians in Jakarta have been advised to avoid locations where deadly mass gatherings are taking place in the Indonesian capital, says the Malaysian embassy in Indonesia.
— The Star Online

Penang DAP reps accuse Umno of spreading fake news about Maszlee
Three Penang DAP assemblymen filed police complaints against Umno for claiming that DAP had called for the replacement of Education Minister Maszlee Malik.
— Malay Mail

Perak promises review and discussions with Penang over artificial islands project
With the fate of its fishermen and marine life likely to be affected, the Perak government today pledged to look into Penang’s plan to build three artificial islands in the Malacca Strait that could hurt the Silver State’s.
— Malay Mail

Lam Thye: Consider insurance coverage for mental health
The Health Ministry needs to take serious steps to address growing concerns over mental health issues, says social activist Tan Sri Lee Lam Thye.
— The Star Online

River of Life developer wants mindset change, saw BMW user dumping rubbish
Malaysians have to change their mindset and start caring for rivers, the developer of the River of Life (RoL) project said. Tan Sri Lim Keng Cheng, managing director of RoL project developer Ekovest Bhd, however, said he has.
— Malay Mail

Pros and cons of early shopping for festive seasons
With less than two weeks to go until Gawai Dayak and Hari Raya Aidilfitri celebrants are contemplating whether to shop early or leave it till the last minute.
— New Sarawak Tribune

Only court can decide on Taman Rimba Kiara project status: Khalid
Federal Territories Minister Khalid Abdul Samad (pix) said only the court can decide whether the Taman Rimba Kiara project in Taman Tun Dr Ismail (TTDI) is illegal or otherwise.
— The Sun Daily

Stern action will be taken against those who threaten law enforcers – IGP
Inspector General of Police (IGP) Datuk Seri Abdul Hamid Bador today issued a stern warning that police will not tolerate law enforcers being threatened.
— The Borneo Post

Unimas favours 90 pct matriculation quota for Bumiputeras
Universiti Malaysia Sarawak (Unimas) supports a statement of Education Minister, Dr Maszlee Malik, on maintaining a 90 per cent quota of Bumiputera entries into matriculation.
— New Sarawak Tribune

Taman Rimba Kiara project status: Only court can decide, says FT minister
Federal Territories Minister Khalid Abd Samad says only the court can decide whether the Taman Rimba Kiara project in Taman Tun Dr Ismail (TTDI) is illegal or otherwise.
— Malay Mail

Pos Malaysia registers biggest-ever net loss
Pos Malaysia Bhd recorded a net loss of RM165.7mil for the financial year ended March 31, 2019 – its biggest-ever loss for a full year.
— The Star Online

Discolouration, foul smell in Malacca River not caused by pollution: Exco
The discolouration, foul-smell and dead fish in Malacca River are not caused by pollution, but are believed to be due to the ocean current, according to state Housing, Local Government, Environment and Green Technology Committee chairman Datuk Tey Kok Kiew.
— The Sun Daily

Civil servant loses RM1 mln of life savings to Macau Scam
A 52-year-old civil servant here lost more than RM1 million of her life savings to Macau Scam. According to Sarawak Commercial Crime Investigation Department chief Supt Mustafa Kamal Ghani Abdullah.
— The Borneo Post

Another ‘Datuk’ remanded over armoured vehicle probe
A former senior officer of a company with the title Datuk has been remanded for four days from today to assist in the alleged corruption involving the supply of armoured military vehicle equipment.
— Malay Mail

Sabah’s youngest ever state minister to tackle mental health issues
Ginger Phoong says mental health awareness among young people is poor in Sabah, and he wants to change this.
— FMT News

Umno’s psy-war targeting DAP exposed, says Kit Siang
Umno’s psy-war headquarters has issued a directive to the party’s cybertroopers to target DAP and cause collapse of the Pakatan Harapan (PH) government, Lim Kit Siang (pix) said today.This is to save former prime minister, Datuk Seri Najib Abdul Razak from being sent to Sungai .
— The Sun Daily

Retract statement on matriculation, Mandarin job requirement, DAP Youth tells Maszlee
DAP’s Youth wing urged Education Minister Maszlee Malik today to withdraw his remarks linking the matriculation quota to Mandarin-speaking requirements for certain jobs.
— Malay Mail

6 policemen, 2 BNM officers held for extorting RM200k from money changer, ASP missing
Seven policemen and two Bank Negara Malaysia (BNM) personnel have been detained by city police for extorting RM200,000 from a money changer yesterday.
— The Sun Daily

Integrating modern and traditional & complementary medicine
Many Malaysians seek out traditional and complementary medicine practitioners for their health, requiring the Malaysian Government to properly register, regulate, and hopefully, integrate them with modern medicine.
— Star2.com

Local fragrant rice for KADA, MADA padi areas to be planted on large-scale basis, says minister
The Ministry of Agriculture and Agro-Based Industry will ask the Kemubu Agricultural Development Authority (KADA) and the Muda Agriculture Development Authority (MADA) to begin planting high-quality local fragrant padi soon.
— Malay Mail

Stern action will be taken against those who threaten law enforcers: IGP
Inspector General of Police (IGP) Datuk Seri Abdul Hamid Bador (pix) today issued a stern warning that police will not tolerate law enforcers being threatened.He told Bernama that police viewed seriously such a trend of late and had instructed his officers and personnel to immediately .
— The Sun Daily

Report: Malaysian woman run over by bus in Singapore while trying to catch ride home to Johor
A 61-year-old Malaysian woman working in Singapore died after being run over by a bus at the Woodlands Checkpoint in Singapore. The incident happened at about 11.40pm on Monday, Straits Times reported today.
— Malay Mail
Feature photo naim fadil

This week’s Malaysia morning news feature photo acknowledges International Day for Biological Diversity, May 22.

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.