Monday , January 27 2020
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Challenges for Malaysia’s meandering economy

The Malaysian economy seemed to be in a state of suspension in 2019. While observers expected a burst of economic activity in line with the promises made during Pakatan Harapan’s ascent to power in 2018, the year delivered little terms of economic growth. In fact, the third quarter of 2019 offered a disappointing 4.4 per cent GDP growth. The year ... Read More »

Malaysian firms remain upbeat on business outlook

KUALA LUMPUR: Business sentiment among Malaysia companies has increased for the fourth consecutive quarter in Q1 this year, according to Dun & Bradstreet (D&B). This is based on D&B Malaysia’s Business Optimism Index (BOI), which inched up by 0.64 percentage points from 9.58 percentage points in Q4 2019 to 10.22 percentage points in Q1 2020. On a year-on-year (y-o-y) basis, ... Read More »

India’s palm oil import curbs could trigger Malaysia

India’s restrictions on imports of refined palm oil will lead to a price war between the world’s two biggest suppliers of the commodity, Indonesia and Malaysia, the Palm Oil Refiners Association of Malaysia said on Thursday. The Indian Ministry of Commerce and Industry issued a notification on Wednesday declaring that the import of refined palm oil “is amended from ‘Free’ ... Read More »

Malaysia foresees 7% increase in tourist arrivals from India and China

The Malaysian government’s recent move of extension of visa-free stay for tourists from China and India is likely to witness a surge in the number of arrivals from two of the most populous countries. As per reports, Tourism Malaysia is expecting a 7 per cent increase in tourist arrivals from China and India, especially in conjunction with its campaign ‘Visit ... Read More »

Malaysia slaps anti-dumping duties on cold rolled coils from these countries

KUALA LUMPUR (Dec 26): Malaysia has imposed anti-dumping duties of between 3.84% and 26.39% on iron or non-alloy steel-based cold rolled coils with a width of more than 1,300m imported from China, Japan, South Korea and Vietnam to address unfair trade practices. Malaysia’s Ministry of International Trade and Industry (MITI) said in a statement today the government decided to impose ... Read More »

Customs Dept: Suspects who shot at personnel in Semporna waters are smugglers

The suspects involved in a shootout with customs personnel in Semporna waters last Friday are believed to be fuel smugglers, according to the Royal Malaysian Customs Department. Its deputy director-general Datuk Abdul Latif Abdul Kadir (Enforcement and Compliance) said a five-man party from the Lahad Datu marine customs was conducting an operation when they encountered the suspected smugglers near the ... Read More »

Malaysia Airlines, Japan Airlines get nod for joint business deal

KUALA LUMPUR: Japan Airlines and Malaysia Airlines are set to launch a joint business structure in 2020 to cooperate commercially on flights between Malaysia and Japan, the carriers said in a statement on Thursday. They said this followed after the Malaysian Aviation Commission (MAVCOM) granted an individual exemption and Japan’s Ministry of Land, Infrastructure, Transport and Tourism to grant an ... Read More »

Kesatria Malaysia Programme generates 145 business events leads

KUALA LUMPUR: Kesatria Malaysia Programme, an initiative by the Malaysia Convention and Exhibition Bureau (MyCEB), has contributed to 145 successful business events leads, attracting a total of 223,516 delegates with an estimated economic impact of RM3.2 billion. MyCEB chief executive officer, Datuk Zulkefli Sharif said 47 per cent of bids were won and supported with 73 secured events, amounting to ... Read More »

Customs busts drug trafficking syndicate, seizes RM5m worth of ketamine

The Customs Department believes that an international drug trafficking syndicate has been crippled with the arrest of four men, including a local resident, in two separate raids in Selangor earlier this month. Customs deputy director-general (enforcement and compliance) Datuk Abdul Latiff Abdul Kadir said the raid was carried out on December 2 and 3 in Batu Caves and Port Klang ... Read More »

Philippines, Malaysia and Indonesia bet on space as growth engine

NAGOYA, Japan — Asian countries are betting that the space industry will provide a new engine of growth, as the global economy sputters and government finances become overstretched. A case in point: the Philippines. “We cannot miss this boat,” said Joel Marciano, head of the space program at the Philippine Department of Science and Technology, in an interview with the ... Read More »

Hong Kong customs seizes HK$50 million worth of smuggled

A cross-border syndicate smuggling frozen meat from Hong Kong to mainland China was dealt a heavy blow when customs officers seized 540 tonnes of produce worth HK$50 million, the city’s largest bust of its kind in a decade. Criminals sought to evade mainland taxes, including tariffs imposed during the US-China trade war, by transporting illicit beef and offal from the ... Read More »

Starbucks just opened its fourth signing store worldwide in Penang

Starbucks’ latest offering isn’t a crazy new Christmas drink or an aesthetically pleasing peppermint mocha – but a new store location manned by deaf baristas. The coffee chain announced the opening of its Penang signing store on Tuesday (Nov 19) morning, in collaboration with the Penang Deaf Association. This will be the coffee giant’s fourth signing store globally and its ... Read More »

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 »