malaysia

Meeting did not discuss transition of power — Dr Mahathir

KUALA LUMPUR (June 24): Prime Minister Tun Dr Mahathir Mohamad said there was no discussion on the issue of transition of power during his meeting with Datuk Seri Anwar Ibrahim today.

Dr Mahathir said the meeting with the PKR president only touched on ordinary issues.

"We only spoke about normal things…Nothing about that (succession issue)," he told reporters when met at the Aidilfitri open house of Maju Holdings Sdn Bhd here tonight.

Synagie partners Malaysian government to accelerate e-commerce

SINGAPORE (June 24): Synagie Corporation, which assists brands execute their e-commerce strategies using its cloud-based platform, is in a partnership with the Malaysian government to accelerate e-commerce adoption and drive cross-border e-commerce.

Jeffrey Ong faces 13 more charges; bail denied

SINGAPORE (June 24): Jeffrey Ong Su Aun might be the managing director of law firm JLC Advisors. But as details of his escape to Malaysia were revealed, it would not have been difficult to imagine the 41-year-old as a character in a novel by his namesake, Jeffrey Archer.

In court on June 20, Ong faced 13 fresh charges of forgery for the purpose of cheating, bringing the total number of charges he faces to 22. Ong is alleged to have falsified a series of documents to deceive one Chan Yi Zhang into believing that US$4.9 million ($6.6 million) was still held in escrow by JLC.

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Malaysia sees trade diversion cushioning impact of tariff wars

(July 18): Malaysia’s central bank, which has already downgraded its economic growth outlook for this year amid an escalating trade war, sees a partial offset as companies shift operations from China to sidestep higher US tariffs.

In her first formal interview with the international media since she took office almost a year ago, Governor Nor Shamsiah Mohd Yunus said the trade diversion could add about 10 basis points to this year’s growth rate. That would be on top of Bank Negara Malaysia’s current forecast of 4.3% to 4.8% for 2019.

Malaysia's 2018 debt, liabilities down 3.9 ppts y-o-y in proportion to GDP, says Guan Eng

KUALA LUMPUR (June 2): Notwithstanding a rise in direct government debt, Malaysia's overall debt and liabilities in 2018 dropped 3.9 percentage points (ppts) to 75.4% of the country's gross domestic product in 2018, versus 79.3% in 2017, following a successful cost rationalisation exercise involving planned mega projects and Public Private Partnership (PPP) payments .

Why Singapore, Malaysia, Vietnam were added to US currency watchlist

SINGAPORE (May 29): The US Treasury added Singapore, Malaysia and Vietnam to a watchlist for currency manipulation, putting their foreign-exchange policies under scrutiny.

Singapore made the list because of its large current account surplus and net foreign currency purchases of at least US$17 billion ($23.48 billion) in 2018, equivalent to 4.6% of GDP, according to the Treasury.

Nam Cheong wins up to $43 mil in chartering contracts

SINGAPORE (May 29):  Nam Cheong, the Malaysia-based builder of OSVs (offshore support vessels), says subsidiary SKOSV Sdn Bhd has clinched long-term chartering contracts for three OSVs worth RM80 million ($26.4 million) with Malaysian oil majors.

The contracts also come with an option for extension that is worth RM50 million in total, bringing the group’s chartering orderbook to RM295 million including RM140 million worth of option for extension.  

Malaysia's transport minister Loke has made significant changes a year on, but more difficult tasks lie ahead

(May 20): Malaysia’s Transport Minister -Anthony Loke Siew Fook offers us a firm handshake as he gets off the escalator at the swanky hotel in downtown Kuala Lumpur where we are meeting him for an interview. He looks unassuming, serious, quiet even, for want of a better word, and moves with a purposeful stride.

Clad in slacks and a plain shirt, he is accompanied by just two young aides. No suit and tie, entourage or bodyguards.

There is a passion about Loke, 42, when he speaks of the transport sector.

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Greater transparency required to curb deforestation in Malaysia

SINGAPORE (May 13): While the proposal by Teresa Kok, Malaysia’s minister of primary industries, to cap oil palm plantations in Malaysia at 6.5 million hectares by 2023 grabbed headlines in March, some environmentalists were uncomfortable with the target. This is because with a total oil palm planted area of 5.85 million hectares as at Dec 31, 2018, there is still room to expand by another 650,000ha.

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Labour is lowly paid but not underpaid in Malaysia

(May 13): With the one-year anniversary of the Pakatan Harapan-led government now in the rear-view mirror, one thing is certain — much more remains to be done. In particular, the issue of the rising cost of living continues to top surveys as the biggest challenge for Malaysians.

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