Friday , November 15 2019
Breaking News


Plan to privatise C&C Bintang

KUALA LUMPUR: Regional auto dealer Jardine Cycle & Carriage Ltd plans to privatise its Malaysian arm Cycle & Carriage Bintang Bhd, offering the latter’s shareholders nearly doubled its last closing price on Friday. The share price of Cycle & Carriage, a Mercedes-Benz dealer, has been depressed in the past few years and is at a 10-year low. Jardine is offering ... Read More »

Malaysia Can’t Trade With Iran Due to Sanctions

Malaysian Prime Minister Mahathir Mohamad says Malaysia cannot trade with Iran, one of its big trading partners, due to sanctions. Speaking at a press conference on the sidelines of the 35th ASEAN Summit and Related Summits, Mahathir noted that sanctions were not mentioned during the summit. “When you apply sanctions, it is against the law. There is no provision in ... Read More »

Malaysian Woman Tries Smuggling Heroin Inside Durians

Durian, Asia’s smelly, misunderstood “king of fruits” is usually filled with golden custard-like meat but that’s not what authorities found when they opened one and discovered it had been stuffed with suspected heroin instead. A woman was detained in Malaysia last week after allegedly trying to smuggle hollowed out durians containing heroin, the local Bernama News Agency reported. The 34-year-old ... Read More »

Almost 80pc of Customs Dept complaints related to corruption, says D-G

KLANG PORT : Almost 80 per cent of complaints received by the Royal Malaysian Customs Department (JKDM) against its officers and personnel are related to corruption, said its director-general Datuk Seri Paddy Abd Halim. However, he said the statistics were based solely on the number of complaints received, but that did not necessarily indicate that the department staff were heavily ... Read More »

Malaysia and Singapore agree to extend RTS link deadline again

Malaysia and Singapore have agreed to defer the construction of the Johor Bahru-Singapore Rapid Transit System (RTS) link yet again, adding to the previous six-month extension requested by Putrajaya in April. The new deadline has been set for Oct 31, and will incur no additional cost. The initial six-month extension was for Malaysia to review the RM4 billion (S$1.3 billion) ... Read More »

Four Malaysians nabbed in Singapore for smuggling cigarettes

SINGAPORE, ; Four Malaysians were among 13 men arrested for dealing with smuggled cigarettes in a two-day raid by Singapore Customs last week. In a statement here, Singapore Customs said it seized 26,714 cartons and 840 packets of duty-unpaid cigarettes and arrested 13 men in five separate locations. All four Malaysians were arrested on the first day of the raid. ... Read More »

Johor Customs, MMEA seize RM110,000 of contraband liquor in joint ops

JOHOR BARU, : The Johor Customs Department and the Malaysian Maritime Enforcement Agency (MMEA) confiscated 2,172 bottles of contraband liquor worth RM113,820 from a barge in waters off Pengerang. The foreign registered vessel was detained during a joint operation by the two agencies within Tanjung Penyusop waters in Pengerang at around 2.45pm on September 16. Johor Customs Department director Mohammad ... Read More »

Marriott bullish on Malaysia’s prospects

Marriott International Inc, which signed a landmark agreement with YTL Corp Bhd’s YTL Hotels to bring the AC Hotels by Marriott brand to Malaysia last week, is looking for more opportunities to expand and is bullish on prospects here. Its president and managing director for Asia Pacific, Craig Smith told NST Property that the group has 30 properties in the ... Read More »

Scope for growth in Malaysia renewables: report

THERE is increasing scope for Malaysia’s non-hydro renewable energy sector — particularly solar energy — to grow, with strengthening government support and rising investor interest in the past two years, Fitch Solutions Macro Research said in a Sept 13 report, identifying “substantial untapped … potential” in that area. Government support The report noted recent and upcoming moves that increase government ... Read More »

Iban communities lose bid to review ruling on native customs

PUTRAJAYA: The Federal Court today rejected a bid by Iban communities from two villages in Sarawak to review its ruling that their native custom has no force of law in the state. In a 4-1 majority decision by the five-member bench, it held that there was no basis for a new panel of the Federal Court to review the earlier ... Read More »

Sri Lanka mulls ‘digital free trade zone’ to help exporters, like China, Malaysia

Sri Lanka plans to set up a ‘digital free trade zone’ to help exporters, especially small businesses, cut red tape and connect to global markets, like similar initiatives by China and Malaysia. “Digitally connecting companies to global value chains is an important aspect of the government’s digital economy strategy,” said M. C. L. Rodrigo, secretary to the Ministry of Digital ... Read More »

Malaysia, Cambodia to sign DTA, strengthen bilateral trade ties

PHNOM PENH: Prime Minister Tun Dr Mahathir Mohamad will witness the signing of the Double Taxation Avoidance Agreement (DTA), which will further strengthen the bilateral trade ties between Malaysia and Cambodia, during his official three-day visit to the country from Sept 2 to 4. The inking of the DTA is one of the main agenda of Mahathir’s visit to Cambodia, ... Read More »

Malaysian businesses remain upbeat in 3rd quarter: official survey

KUALA LUMPUR: Malaysian businesses remain optimistic on their business performance for the third quarter, according to an official survey disclosed on Thursday. Malaysian Statistics Department said in a statement that the confidence indicator for Malaysian businesses increased slightly in the third quarter to 3.1 percent as against to 2.8 percent recorded in preceding quarter. Within the surveyed sectors, services sector ... Read More »

China’s July crude oil imports from Malaysia near record: customs

SINGAPORE/BEIJING : China’s crude oil imports from Malaysia stood near record levels in July, customs data showed, with traders and a tanker-tracking analyst citing oil either transshipped from Venezuela or blended with Venezuelan crude for the unusual growth. Crude imports from Malaysia rose to 1.35 million tonnes last month, more than double from a year earlier, data from China’s General ... Read More »

Customs Service Cracks Down on Illegal Foreign Exchange Activity in Malaysia

The Korea Customs Service has cracked down on 146 individuals who purchased a country house in Johor Bahru, Malaysia and other costly real estate using an illegal foreign exchange method commonly known as “hwanchigi.” The individuals purchased stores, condominiums, and country houses in Johor Bahru without reporting the transactions to customs. One of the individuals is known to have masterminded ... Read More »

Biggest drug bust in Malaysian history: Almost 4 tonnes seized worth over half a billion ringgit

PETALING JAYA: More than a half a billion ringgit worth of ketamine and cocaine have been seized in a joint operation between Bukit Aman and the Customs Department at Pusat Perdagangan Alam Jaya, Puncak Alam. Said to be the biggest drug bust to date, over three tonnes of cocaine and half a ton of ketamine were seized during the joint ... Read More »

Activists urge U.S. customs to ban palm oil imports from Malaysia’s FGV

KUALA LUMPUR : A group of non-governmental organizations is calling on U.S. authorities to ban imports of palm oil from Malaysia’s FGV Holdings and investigate the company, citing concerns of forced labor and human trafficking on its plantations. U.S.-based NGOs International Labor Rights Forum (ILRF), Rainforest Action Network (RAN) and SumOfUs said they had filed a complaint with the U.S. ... Read More »

Malaysia Charges Goldman Sachs Executives in 1MDB Scandal

Malaysia filed criminal charges on Friday against a top executive at Goldman Sachs, a former executive who now works for Alibaba of China and others, as it intensifies pressure on the Wall Street bank in a scandal involving the misuse of billions of dollars in government funds. The charges escalate the legal challenges for Goldman, which has come under scrutiny ... Read More »

Singapore, Malaysia among exporters most at risk from US-China trade war: Fitch Solutions

SINGAPORE – Asian export-reliant economies such as Singapore, Taiwan, South Korea, Vietnam and Malaysia will be the hardest hit by waning demand for Chinese-made products and supply chain disruptions amid escalating US-China trade tensions, Fitch Solutions Macro Research said on Tuesday (Aug 6). This is because many of these exporters are deeply integrated with China’s supply chains, supplying electronics, parts ... Read More »

Malaysia to impose departure tax of between $2.65 and $50 on airline travellers from Sept 1

KUALA LUMPUR : all travellers flying out of Malaysia will have to pay a departure tax of between RM8 and RM150 (S$2.65 and S$50), Malaysian media reported on Friday (Aug 2). The Malay Mail Online website reported that the departure levy rates were set out by Finance Minister Lim Guan Eng in a ministerial order gazetted by the Malaysian government ... Read More »