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☆ Malaysia’s ‘orangutan diplomacy’ plan slammed as ‘obscene’
▼ + stars: | 2024-05-11 | by ( Heather Chen | ) edition.cnn.com time to read: +6 min

Halved oil palm kernels are seen on the trade floor of a commodities conference and exhibition in Kuala Lumpur. “Orangutan diplomacy will not solve Malaysia’s deforestation crisis,” Heng Kiah Chun, a regional campaign strategist for Greenpeace Southeast Asia, told CNN. By 2012, their numbers had dropped by almost two-thirds, to 104,700 and the decline has continued,” the WWF report said. Therefore it is crucial that all remaining orangutan habitats are conserved,” WWF Malaysia told CNN in a statement. “Orangutan conservation is best achieved by ensuring the protection and conservation of their natural habitats – and that no further forest conversion into palm oil plantations is allowed.”

Persons: ”, Johari Abdul Ghani, ” Ghani, Tengku Bahar, ” Stuart Pimm, Pimm, Ghani, ” Heng Kiah Chun Organizations: CNN, Getty, Duke University, Malaysia’s Ministry of, Commodities, Chengdu Research Base, Visual China, Malaysian, World Wildlife Fund, WWF, Rimba, Greenpeace Southeast, CNN Conservation, WWF Malaysia Locations: China, Australia, Malaysia, Asia, Indonesia, Kuala Lumpur, Beijing, Malaysian, EU, India, Tengku, AFP, South Carolina, Greenpeace Southeast Asia, WWF Malaysia, Borneo, Brunei, “

☆ Faisal Halim: Acid attack leaves Malaysia soccer star in ‘critical but stable condition,’ officials say
▼ + stars: | 2024-05-07 | by ( Heather Chen | Andrew Mcnicol | ) edition.cnn.com time to read: +3 min

CNN —A star player for Malaysia’s soccer team is in “critical but stable condition” after an acid attack that left him with fourth-degree burns, officials said late Tuesday. Malaysian soccer officials said Faisal Halim’s movement and speech had been affected and he would require more surgery. Halim, who plays as an attacker for Selangor Football Club as well as Malaysia’s national team, was taken to a nearby private hospital in the capital, while still conscious. He had suffered severe burns to his face, neck, shoulders, hands and chest, officials add. Specialist doctors on Tuesday concluded that Halim had suffered fourth-degree burns, not second-degree burns as previously thought, said officials from the Football Association of Selangor.

Persons: Faisal Halim’s, Halim, “ Faisal, Mokhtar, “, ” Mokhtar, –, Akhyar Rashid, Anwar Ibrahim, Anwar, ” Halim Organizations: CNN, Malaysian, Selangor Football Club, Football Association of Selangor, Motive, Football Association of Malaysia, Malaysia’s, AFC Asian, Qatar —, South, Kyrgyzstan, Selangor, Malaysia, Liga Locations: Kuala Lumpur, Malaysian, Malaysia, Halim, Qatar, South Korea

☆ Mount Ruang: Indonesia volcano eruptions force thousands to evacuate as airlines cancel flights
▼ + stars: | 2024-05-02 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

Mount Ruang, a 725-meter (2,400-foot) volcano on Ruang Island, North Sulawesi, has been erupting in spectacular fashion on and off since mid-April, posing a growing threat to those living nearby and to air traffic in the region. Nearby schools have also been shut to protect children from volcanic ash, BNPB said. Video Ad Feedback Indonesia's Mount Ruang volcano continues to shoot volcanic ash 02:29 - Source: CNNMount Ruang is a stratovolcano, which are typically conical and relatively steep-sided due to the formation of viscous, sticky lava that does not flow easily. Volcanic ash from Ruang has reached eastern Malaysian airspace, Malaysia’s meteorological department said. Mount Ruang previously erupted in April, disrupting more than 200 flights on April 18 and 19 and affecting tens of thousands of passengers, officials said.

Persons: Mount Ruang, Ruang, Sam, BNPB, ”, Muhammad Helmi Abdullah Organizations: CNN, Reuters, National Disaster Management Authority, International, Met Malaysia, Muhammad Helmi Abdullah Regional, Air Asia, “, Malaysia Airlines Locations: Mount, North Sulawesi, Manado, Ruang, Malaysian, Malaysia, Indonesia, Asia

☆ Tycoon’s death penalty in $12.5 billion fraud case highlights Vietnam’s corruption crisis
▼ + stars: | 2024-04-12 | by ( Heather Chen | ) edition.cnn.com time to read: +12 min

The scale of the fraud was said to be equivalent to roughly 3% of Vietnam’s economy. Though widely considered ceremonial, the presidency is one of the top three positions in Vietnam’s political hierarchy after the CPV’s Secretary General, currently Nguyen Phu Trong. In fact, the International Monetary Fund expects Vietnam’s economy to grow by 5.8% this year, compared to 4.6% for China. Their fate remains unclear, given the highly secretive nature of Vietnam’s political system. But Vietnamese political experts said a permanent appointment would not end the instability.

Persons: Truong My Lan, Van Thinh, siphoned, “, Eric Chu, Vietnam’s, Vo Van, Trong, Thuong, Vo Van Thuong, Richard A, Brooks, Nguyen Xuan Phuc, Pham Binh, Le Hong Hiep, Yusof, ” Hiep, ”, Thu, General Trong, Xi Jinping, ” Zachary Abuza, Salt Bae, Lam, ” Abuza, Nguyen Phu Trong, Evelyn Hockstein, Abuza, Bui Thanh Soh, ” Soh, Vo, Xuan, Thuong’s, Le Hong Organizations: CNN, Van Thinh Phat Holdings Group, Stock Commercial Bank, Reuters, SCB, Express, Communist Party, Institute, Crisis Group, National War College, Vietnamese Communist Party, Public Security, Vietnam, International Monetary Fund, Companies, Apple, Intel, Vietnam's Communist Party General, Yusof, Brookings Institution, “, Crisis Locations: Vietnam, Saigon, People’s, Ho Chi Minh City, Hong Kong, Duc, Singapore, Asia, China, Washington, “, London, Turkish, Hanoi, Bangkok

☆ Ramadan in Malaysia: Raids and fines for those caught breaking fast spotlight growing religious conservatism
▼ + stars: | 2024-04-08 | by ( Heather Chen | ) edition.cnn.com time to read: +9 min

In many parts of Malaysia, Muslims caught eating or drinking during daytime hours can find themselves on the wrong side of the law. Those caught eating or drinking during daytime hours face fines of up to 1,000 Malaysian Ringgit (about $200) and prison terms of up to a year. CNN reached out to multiple state religious bodies across Malaysia for comment. Complaints were made to the state religious department, media reports said, and the scandal caused a national stir – drawing scorn from conservative politicians and prompting public apologies from the celebrities. “As long as you look Malay, you must fast during Ramadan – those are the rules,” Yusuf told CNN.

Persons: Rahmad Mariman, ” Mariman, TikTok, ” JAIPK, Hadi Awang, ”, MOHD RASFAN, –, Ameena Siddiqi, Siddiqi, ” Siddiqi, Salahuddin Abdul Aziz, Annice Lyn, Anisah Mahmood, Fadhlina Sidek, “, Haji Ahmad Bin Yahaya, Yusuf, ” Yusuf Organizations: CNN, Malaysian, Islamic Religious Department, JAIM, PAS, Malaysia Islamic Party, AFP, Getty, Annice, Education Locations: Malaysia, Malacca, Perak, Gerik, South, Southeast Asia, AFP, Malaysian, Islam, Kuala Lumpur, Shah Alam, Selangor, London, Malay, Johor

☆ Images of Malaysian wild cats you’ve probably never heard of
▼ + stars: | 2024-04-01 | by ( Nell Lewis | ) edition.cnn.com time to read: +5 min

It is most famous for its tiger population, but eight other species of wild cats also roam, such as the clouded leopard, the bay cat, and the flat-headed cat. Sebastian Kennerknecht/PantheraThese wild cats are notoriously elusive and, besides the tiger, understudied. Despite this, almost all Malaysia’s cat species are classified as endangered, vulnerable or near threatened, due to habitat loss, poaching and climate change. Roshan Guharajan, project coordinator for Panthera Malaysia, focuses on the Malaysian region of the island of Borneo, which is home to five species of wild cat. By monitoring the different species, Panthera is hoping to gather information on population sizes, range estimates and the threats that they face.

Persons: Sebastian Kennerknecht, Roshan Guharajan, ”, Guharajan Organizations: CNN, Malayan, IUCN, Malaysia, Global Forest Watch Locations: Sabah, Borneo, Malaysian, Malaysian Borneo, Malaysia, Asia

☆ Malaysia Rises as Crucial Link in Chip Supply Chain
▼ + stars: | 2024-03-13 | by ( Patricia Cohen | ) www.nytimes.com time to read: +1 min

Construction cranes still surround the brand-spanking new plant in Kulim’s industrial park in Malaysia. But inside, legions of workers hired by the Austrian tech giant AT&S are already gearing up to produce at full capacity by year’s end. The American chip giant Intel and the German corporation Infineon are each investing $7 billion. Nvidia, the world’s leading maker of chips powering artificial intelligence, is teaming up with the country’s utilities conglomerate to develop a $4.3 billion artificial intelligence cloud and supercomputer center. Texas Instruments, Ericsson, Bosch and Lam Research are all expanding in Malaysia.

Organizations: Intel, Infineon, Nvidia, Texas, Ericsson, Bosch, Lam Research Locations: Malaysia, Austrian

Asian productions or nominees with a predominantly Asian cast have been making headway at the Academy Awards in recent years. South Korean thriller “Parasite” made history in 2020 as the first non-English language movie to win best picture, alongside three further awards. "The Boy and the Heron" producer Toshio Suzuki speaks at a news conference in Los Angeles on March 11, 2024. Patrick T. Fallon/AFP/Getty ImagesFor others, the award offered Japan a boost after a rough start to the year. Kelts, the Japan-based author, said the second Oscar win showed the Academy had recognized Miyazaki’s artistic genius and that Japanese animation is far from solely entertainment.

Persons: CNN —, Hayao Miyazaki, ”, Huy Quan, Malaysia’s Michelle Yeoh, Heron ”, Ghibli’s, “, Roland Kelts, Miyazaki, Richard Harbaugh, Toshio Suzuki, ‘, ’ Suzuki, Suzuki, ” Suzuki, Richard A, Brooks, Tatsuji Nojima, “ Oscar, Takashi Yamazaki, Fumio Kishida, Yamazaki, ” Kishida, Hideaki Omura, Godzilla’s, Chris Hemsworth, Anya Taylor, Joy, Patrick T, Fallon, Kelts Organizations: CNN, Academy, Sony Pictures, Culture, Oscar Academy, Ghibli, Japan’s, NHK, Getty, Japan, Sunday, Gov, Hollywood, American, Waseda University Locations: Japan, America, Vietnam, ” Tokyo, Hollywood, Los Angeles, AFP, Aichi prefecture, Miyazaki, Japanese, Ishikawa, Tokyo

☆ Malaysia cuts prison sentence of disgraced former Prime Minister Najib Razak
▼ + stars: | 2024-02-02 | by ( Heather Chen | ) edition.cnn.com time to read: +2 min

CNN —Malaysia has cut former Prime Minister Najib Razak’s 12-year prison sentence for corruption in half, according to authorities in the Southeast Asian country. Najib, who served as prime minister from 2009 to 2018, was found guilty of money laundering, abuse of power and other charges in 2020 related to the 1MDB scandal, which saw billions of dollars of taxpayers’ money embezzled out of Malaysia. In a statement Friday, the country’s Federal Territories Pardon Board said the former leader’s application to shorten his prison sentence to six years had been approved. The 1MDB fund was created soon after Najib took office in 2009. Goldman Sachs, which underwrote much of the 1MDB fund and was facing a host of criminal and regulatory proceedings in Malaysia, agreed to a $3.9 billion settlement with the country’s government in 2020.

Persons: Najib Razak’s, Najib, 1MDB, Goldman Sachs Organizations: CNN, United Locations: Malaysia, Territories, United States

☆ Japan’s ‘Moon Sniper’ lands but its fate is unclear due to power issue
▼ + stars: | 2024-01-20 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

Rovers, science experiments, golf balls and other telltale signs of human exploration still sit on the lunar surface, and it’s only just beginning as more space agencies and countries plan trips to the moon. An artist's illustration depicts the SLIM lander's descent toward the lunar surface. JAXAJapan’s “Moon Sniper” robotic explorer successfully landed on the lunar surface Friday but almost immediately encountered a critical issue. The Japan Aerospace Exploration Agency team said it believes the solar power issue is a result of the spacecraft facing the wrong direction. If the Moon Sniper can soak up some sunlight, the mission may continue.

Persons: Smart Lander, Emmanuel Rondeau, ”, Eager, Nick Famoso, Irene Stachon, Trent Ford, Lockheed Martin, Ashley Strickland, Katie Hunt Organizations: CNN, ”, telltale, JAXA, Japan Aerospace Exploration Agency, North America, University of Alaska, WWF, Force, NASA, Lockheed, CNN Space, Science Locations: Soviet, North, University of Alaska Fairbanks, Elma, Malayan, Malaysia, Oregon, Mitchell , Oregon, Scandinavia, Finland, Äkäslompolo, United States, Chicago, Illinois

☆ Batu Caves: This 400 million-year-old cave site and temple in Malaysia is planning an escalator upgrade
▼ + stars: | 2024-01-20 | by ( Heather Chen | ) edition.cnn.com time to read: +2 min

To reach the temple housed in a limestone cave at the top, visitors must currently climb 272 steps. Adding an escalator would make the site “more accessible,” a spokesperson for the site’s management committee told a press conference Friday. “We hope the government will assist us since this (escalator) will allow the disabled and elderly who are unable to climb the steps to reach the main temple,” said temple committee chairman R. Nadarajah. Visitors on the stairs leading up to Batu Caves' Sri Subramaniar Swamy temple. Batu Cave officials say the strategy has worked, pointing out the colorful stairs have become popular with Instagrammers.

Persons: “, ”, Nadarajah, Mohd Samsul Mohd Said Organizations: CNN, Visitors, Tourists, Malaysian Locations: Malaysia, Batu, Kuala Lumpur

☆ Malaysia’s last tigers: Why this rare image is giving conservationists hope
▼ + stars: | 2024-01-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +9 min

“This image is the last image of the Malayan tiger — or it’s the first image of the return of the Malayan tiger,” he says. ‘A million-dollar shot’Regular camera traps — like the hundreds already used by the park’s scientists, researchers and conservationists — are typically the size of a large smartphone and activated by broad-range motion sensors. Rondeau's high-resolution camera traps included a DSLR camera in a waterproof casing. Emmanuel Rondeau, wildlife photographerBut there’s still more work to be done. As a keystone species, tigers are essential to a healthy ecosystem – and without them, the 130-million-year-old rainforests around the Belum-Temengor complex could be threatened, too.

Persons: CNN — Emmanuel Rondeau, “, ”, Rondeau, ” Rondeau, ‘, —, I’m, ” Rondeau didn’t, ‘ I’m, Carol Debra, Azlan Mohamed, Mohamed, Debra, Emmanuel Rondeau, Stuart Chapman, Chapman, ” Stuart Chapman, Merapi Mat Razi, there’s Organizations: CNN, WWF, Peninsular Malaysia, Malayan, Malaysia, Malaysia WWF, Malaysia —, country’s, “ Tigers, US, Malayan Tiger Conservation, Tiger, WWF’s Tigers, Initiative, Tigers, WWF – Malaysia, Royal, United Nations, Conservation Task Force, Bureau Locations: Asia, Siberia, Bhutan, Malaysia, Peninsular, Southeast Asia, Belum, Asli, “, Royal Belum, Laos, Cambodia, Vietnam, Park

☆ Chinese Premier Makes Surprise Economic Growth Disclosure
▼ + stars: | 2024-01-16 | by ( Jason Douglas | ) www.wsj.com time to read: 1 min

Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaChinese Premier Li Qiang gave global business elites a big hint on highly anticipated growth figures, as he sought to reassure them that investing in China is an opportunity—not a risk. Li delivered the message in an address at the World Economic Forum in Davos, Switzerland, as Chinese leaders seek to stem an exodus of foreign investment with growth slowing and relations deteriorating with the U.S.-led West.

Persons: Adam Adada, Li Qiang, —, Li Organizations: Malaysia’s Forest City, Economic, U.S Locations: Malaysia’s Forest, China, Davos, Switzerland

☆ The new architecture set to shape the world in 2024
▼ + stars: | 2024-01-10 | by ( Oscar Holland | ) edition.cnn.com time to read: +11 min

Kéré’s Berlin-based firm says the building’s top-heavy appearance was inspired by the palaver tree, which traditionally served as a meeting place. Designed for developer s2e Technologies by US architecture firm Gensler, the four circular residential structures can accommodate a combined 84 households. But it is perhaps Bjarke Ingels, founder of Danish design firm BIG, that has had the greatest impact on the city’s once modest skyline. The first restored sections are set to be ready in time for this summer’s Paris Olympics. Norwegian architecture firm Snøhetta and local practice Blight Rayner — who together beat more than 20 entries in an international competition — say that the design was inspired by the flow of the Brisbane River.

Persons: David Chipperfield, Francis Kéré, Kéré, China Stefano Boeri, Bosco, Stefano Boeri, Mestres Wåge, Nicolai Tangen, NBBJ, Dror, EPIQ, Ecuador Uribe Schwarzkopf, Bjarke, Moshe Safdie, Jean Nouvel, Ma Yansong, Ingels, France Chatillon Architectes, Notre Dame isn’t, Chatillon, Nikken Sekkei, ”, “, Blight Rayner —, Aunty Lilla Watson Organizations: CNN, superlatives, Malaysia’s, Benin National Assembly, Forest, Kunstsilo, Keppel South, Enclave, s2e Technologies, Bjarke Ingels, BIG, UNESCO, Heritage, Notre Dame, Palais, Beaux -, Chatillon Architects, UAE Kerzner, United, “ Michelin, New York Times, Gang, Queensland Performing Arts Centre, Queensland Performing Arts Locations: India, Benin, Porto, Novo, Burkina Faso, Kéré’s Berlin, Nanjing, China, Milan, Italy, Europe, China’s, Kristiansand, Norway, Norwegian, Keppel, Keppel South Central, Singapore, London, Canada, London , Ontario, Quito, Ecuador, Bjarke Ingels Quito, Parque La Carolina, Paris, France, Dubai, UAE, United Arab Emirates, Hotel, Denver, USA, Denver , Colorado, Urban, Brisbane, Australia, Australian

☆ The most exciting new trains coming in 2024
▼ + stars: | 2024-01-04 | by ( Ben Jones | ) edition.cnn.com time to read: +13 min

CNN —Around the world, travelers are flocking back to trains, and demand is increasing across the board for high-speed trains, luxury “land cruises” and long-distance day and night trains. Here are some of the best new trains you’ll be able to take in 2024. Laurie Dieffembacq/Belga/AFP/Getty ImagesLinks between two of Europe’s most visited capitals have traditionally been pretty poor, with no direct trains since the 1990s. Ian Clarke/Alamy Stock PhotoFour continents, 13 countries, and seven luxury trains across 80 days – the ultimate experience for rail travel connoisseurs is due to depart in late 2024. BelmondOne of the world’s greatest luxury train journeys is returning to the rails in 2024 after a four-year gap.

Persons: Laurie Dieffembacq, Dimorestudio, Vita ”, Riva Aquarama, itineraries, Jeroen Berends, Gabriel Bouys, it’s, Jesus Hellin, That’s, Trenitalia, Luigi Ferraris, France –, Railbookers, Ian Clarke, we’ve, ”, Frank Marini, Alex Halada, There’s Organizations: CNN, Orient, Getty, ÖBB, Austrian Federal Railways, SNCF, Eurostar, National, Europa Press, French, Renfe, FS, Rocky Mountaineer, Royal, Orient Express, Oriental, ”, Oriental Express, Austrian Railways, Swiss Locations: Swiss, Venice, Paris, Berlin, AFP, Strasbourg, Frankfurt, Italy, Rome, Matera, Palermo, Sicily, Messina, Europe’s, Istanbul, Split, Brussels, Prague, Europe, Dutch, Dresden, Belgian, Roman, Naples, Madrid, Spain, France, Spanish, Barcelona, Lyon, Marseille, Canada, Central Europe, India, South Africa, Eastern, Vancouver, Malaysia, Singapore, Malaysia’s, Kuala Lumpur, Langkawi, Penang, Bangkok, Vienna, Innsbruck, Hamburg, Switzerland, Germany, Zürich, Gornergrat Bahn, Zermatt, Gornergrat, Riffelalp

☆ Elephant herd tramples car after baby struck along Malaysian highway
▼ + stars: | 2023-11-28 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

CNN —A herd of wild elephants in Malaysia trampled on a car traveling along a major highway after it struck a baby in their group, local authorities said Monday. It had been drizzling and foggy at that time, Gerik Police added, and the car was “negotiating a left bend on the highway” when it hit the baby elephant. Authorities did not provide further updates about the condition of the elephant baby. In 2017, a baby elephant was discovered dead on the side of a highway, apparently killed by a car believed to have been speeding, elephant conservation group Management and Ecology of Malaysian Elephants (MEME) said at the time. In 2020, a distressed adult elephant trampled on a car that had been traveling on the same highway as the latest incident.

Persons: ”, Zulkifli Mahmood, “, ” Mahmood, Sylvain CORDIER Organizations: CNN, Gerik Police, Police, Management, Malaysian Locations: Malaysia, Gerik, Malay, Penang, Terengganu, Borneo

☆ It’s Too Soon to Bet on China’s Housing Turnaround
▼ + stars: | 2023-11-15 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaChina’s troubled property market remains on shaky ground despite a raft of government policies to stabilize it—and a big jump in property developer stocks today. Beijing still needs much more forceful measures if it wants to turn around the market and stabilize the economy. They fell 3.7% year-over-year in the first 10 months of 2023, compared with a 3.2% decline in the first nine.

Persons: Adam Adada China’s Organizations: Malaysia’s Forest City Locations: Malaysia’s Forest, Beijing, China

☆ Fact Check: Clip from Malaysia falsely shared as showing casualties in Gaza
▼ + stars: | 2023-11-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

The earliest iteration of the video that Reuters could find online is a TikTok post(archived) from Aug. 19, 2023, written in Malay. The clip also appears in an Instagram post (archived) from Aug. 21, 2023, with a caption that indicates that the video shows a “Kursus Pengurusan Jenazah” which translates to “funeral management course”. A keyword search on the institute's Facebook page leads to a post (archived) that mentions a "Body Management Course of IKM TSYA Students", with Darul Ulum mosque as the venue. The Facebook page has photographs from the same venue that match the walls (archived) and the flooring (archived) of the building seen in the video. The video was filmed in Malaysia, not Gaza, and predates the 2023 Palestinian-Israeli war.

Persons: IKM, ”, MARA Tan Sri Yahaya Ahmad, IKM TSYA, Read Organizations: Reuters, Institut, MARA Skills Institute, IKM, Thomson Locations: Malaysia, Gaza, Israel, Malay, Malaysia’s Pekan, Darul Ulum, Palestinian

Hadri and Umar on Thursday began their defence after being accused of murdering Mongolian Altantuya Shaariibuu. Sirul was arrested on an Interpol notice and has been held in an Australian immigration detention centre since January 2015, after fleeing Malaysia shortly before the verdict was handed down. His release comes just days after a landmark ruling by Australia's High Court that outlawed indefinite immigration detention, leading to the release of dozens of asylum seekers. Malaysia's top police official Razarudin Husain confirmed news of Sirul's release from Australian detention and said police would discuss with the Attorney-General and the courts the possibility of seeking extradition. Sirul was serving as a member of Najib’s personal security detail at the time of the murder.

Persons: Azilah Hadri, Sirul Azhar Umar, Hadri, Umar, Bazuki Muhammad, Najib Razak, Sirul, Razarudin Husain, Sirul’s, Najib, Praveen Menon, Rozanna, Lincoln Organizations: Thursday, Mongolian, REUTERS, Rights, Australia's, Attorney, Thomson Locations: Shah Alam, Kuala Lumpur, KUALA LUMPUR, Malaysian, Australia, Malaysia, Canberra, Malaysia’s, Sydney

☆ China’s Property Developers Cut Prices—and Homeowners Are Resisting
▼ + stars: | 2023-11-01 | by ( Cao Li | ) www.wsj.com time to read: 1 min

Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaAfter being stuck in a housing downturn for two years, cities across China are giving real-estate developers the go-ahead to cut prices on new homes to revive sales. They are quickly running into resistance from homeowners who don’t want to see the values of their properties go down.

Persons: Adam Adada Organizations: Malaysia’s Forest City Locations: Malaysia’s Forest, China

☆ Xi Jinping Is Looking for Someone to Blame for China’s Property Bust
▼ + stars: | 2023-10-26 | by ( Lingling Wei | ) www.wsj.com time to read: 1 min

Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaWith China’s property bust threatening to sink the country’s economic recovery, Xi Jinping is looking for someone to blame. After putting the billionaire founder of Evergrande , a heavily indebted property firm, under investigation for possible crimes, Beijing is expanding its probes to include bankers and financial institutions that facilitated developers’ risky behavior, people familiar with the matter say.

Persons: Adam Adada, Xi Jinping Organizations: Malaysia’s Forest City Locations: Malaysia’s Forest, Beijing

☆ A Financial Crisis in China Is No Longer Unthinkable
▼ + stars: | 2023-10-19 | by ( Greg Ip | ) www.wsj.com time to read: 1 min

Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaThe world’s second-largest economy has a deflating property bubble, local governments struggling to pay their debts and a banking system heavily exposed to both. Anywhere else these factors would be seen as precursors of a financial crisis. But not in China, conventional wisdom goes, because its debts are owed to domestic rather than foreign investors, the government already stands behind much of the financial system and capable technocrats are on top of things.

Persons: Adam Adada Organizations: Malaysia’s Forest City Locations: Malaysia’s Forest, China

☆ China’s Country Garden Was Given a Second Chance to Make a Bond Payment. It Failed.
▼ + stars: | 2023-10-18 | by ( Rebecca Feng | Frances Yoon | ) www.wsj.com time to read: 1 min

Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt. Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red. Photo: Adam AdadaChinese property giant Country Garden has missed a final deadline to pay interest on a dollar bond, capping a remarkable fall from grace for a company that was once considered among the safest developers in the country. The company hasn’t made a $15.4 million interest payment on an outstanding dollar bond, according to two investors who hold the bond. Country Garden had around $15.2 billion of international bonds and loans outstanding at the end of June, according to its public disclosures.

Persons: Adam Adada, hasn’t Organizations: Malaysia’s Forest City Locations: Malaysia’s Forest

Forest and peat fires are an annual problem in Indonesia that strains relations with neighboring countries. In recent years, smoke from the fires has blanketed parts of Indonesia, Singapore, Malaysia and southern Thailand. Hundreds of forest fires in South Kalimantan province in Borneo island made the smoke haze even more widespread, especially during the last week. The local government has also called the students to do online learning because the air quality is unhealthy. “We are still working to handle the forest and land fires in Borneo and Sumatra islands as well as possible.

Persons: Siti Nurbaya Bakar, shouldn't, Bakar Organizations: —, Indonesian, Forestry, Associated Press, Indonesia’s Meteorology, Agency Locations: JAKARTA, Indonesia, — Indonesia, Sumatra, Borneo, Malaysia, Singapore, Thailand, Indonesian, Malaysia’s, Kuala Lumpur, Kuching, IQAir, Swiss, South Sumatra, South Kalimantan, Central Kalimantan

STOCKHOLM (AP) — Two executives of a Swedish oil exploration and production company went on trial Tuesday in Stockholm for securing the company's operations in Sudan through their alleged complicity in war crimes in 20 years ago. The two executives are accused of involvement in the Sudanese government's military campaign to clear an area in southern Sudan for oil production. South Sudan gained independence from Sudan in 2011 to become the world’s youngest nation. They also want 1.4 billion kronor ($127 million) confiscated from Lundin Oil because of economic benefits that were achieved from the alleged crimes. In Sweden, the maximum penalty for complicity in war crimes is a life prison sentence, which generally means a minimum of 20 to 25 years.

Persons: Ian Lundin, Alex Schneiter, Omar al, Bashir, Lundin, ”, Schneiter “ Organizations: STOCKHOLM, Sudanese, Court, Petronas Carigali Overseas, Sudapet Ltd, Lundin Oil, Prosecutors Locations: Stockholm, Sudan, Darfur, OMV, Austria, Sudanese, Swedish, Lundin, Sweden

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