Malaysia

Malaysia ready to hold talks with China on cancelled gas pipeline compensation

KUALA LUMPUR, July 17  (NNN-BERNAMA) — Malaysia is ready to hold talks with China in respect of friendly consultations over compensation for the cancelled gas pipeline projects undertaken by China Petroleum Pipeline Engineering (CPP), says Prime Minister Tun Dr Mahathir Mohamad.

It was reported that Malaysia had seized more than RM1 billion from a bank account of state-owned CPP over incomplete pipeline projects, namely stretching 600 km along the west coast of Peninsular Malaysia and 662 km in Sabah.        

Strategic paper underway to help Rohingya refugees, says Malaysian Foreign Minister

KUALA LUMPUR, July 17 (NNN-BERNAMA) — The Foreign Ministry is preparing a strategic paper to determine the optimum role Malaysia can play to help the Rohingya refugees, the Malaysian parliament (Dewan Rakyat) was told today.

Foreign Minister Datuk Saifuddin Abdullah said Malaysia has been consistent in championing the fate of the community, especially in bringing their oppressors to justice.

Hollywood producer charged in Malaysia over 1MDB scandal

5 July 2019; AFP: The Malaysian producer of Hollywood film "The Wolf of Wall Street" and stepson of the country's disgraced ex-leader was Friday charged with illegally receiving almost $250 million from state fund 1MDB.

Riza Aziz pleaded not guilty to five charges of money laundering when he appeared in a Kuala Lumpur court.

He is accused of receiving $248.17 million in 2011 and 2012 in illegal proceeds that originated from the scandal-hit Malaysian fund.

Malaysian ´Flying car´ prototype to be unveiled as early as October

KUALA LUMPUR, July 3 (NNN-Bernama) — The first prototype of air mobility is expected to be launched as early as October, said Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof.

He said the development of the prototype involved several private companies and does not involve government spending.

“The air mobility industry is among the new entrepreneurship areas which have been identified to have high potential in the local and international markets, particularly in the infrastructure, security and agriculture sectors.

Malaysia: 142 foreign nationals detained in 12-hour operation

KUALA LUMPUR, June 17 (NNN-Bernama) — A total of 142 foreign nationals were detained in the Op Flora which was carried out in a 12-hour operation conducted in two separate operations around Subang Jaya and Gombak.

The operation carried out by the Criminal Investigation Department (CID) of the Selangor Contingent Police Headquarters began at 12.30 am until 12.30 noon Sunday was led by Selangor CID Chief SAC Fadzil Ahmat.

Brace for tough times ahead, Jomo warns Malaysians

KUALA LUMPUR, June 17 (NNN-Bernama) — Malaysians should brace for tough times ahead as the economy is facing real problems amid an intractable external situation which is deteriorating almost on a daily basis, warns a prominent economist.

Dr Jomo Kwame Sundaram, a senior advisor at Khazanah Research Institute, said many of these problems are beyond the control of the Malaysian government and the people need to prepare themselves for hard times ahead.

Malaysia's Mahathir rekindles gold standard debate

4 June 2019; DW: Malaysian Prime Minister Mahathir Mohamad has suggested that East Asia should consider a common trading currency backed by gold, saying the current foreign exchange system tied to the US dollar was prone to manipulation.

The Malaysian leader said the currency could be used for regional trade and would not be used for domestic transactions.

Vietnam woman tried in NKorean scion’s killing leaves prison

KAJANG, Malaysia (AP) — The Vietnamese woman who was tried for the killing of the estranged half brother of North Korea’s leader was released from a Malaysian prison and was planning to return home later Friday, her lawyer and an embassy translator said.

Doan Thi Huong’s release likely closes the case, since four North Koreans named as co-conspirators in the 2017 slaying are not in custody. Malaysian officials never officially accused North Korea and made it clear they didn’t want the trial politicized.

World Bank maintains Malaysia's 2019 economic growth at 4.7 pct

KUALA LUMPUR, April 24 (Xinhua) -- The World Bank on Wednesday maintained Malaysia's 2019 gross domestic product (GDP) growth forecast at 4.7 percent, but warned of the risks emanating from uncertainty in the external environment and increased fiscal reliance on oil-related proceeds might drag the growth.

The international financial institution said in its April 2019 edition of the World Bank East Asia and Pacific Economic Update, private consumption will continue to be the main driver of Malaysia's growth, albeit expanding at a more measured pace.

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