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Aker Solutions manager charged in Malaysia over alleged false documentation
  + stars: | 2021-06-11 | by ( ) sentiment -0.99   time to read: +2 min
Aker Solutions oil service company's logo is seen at their headquarters in Fornebu, Norway, June 1, 2017. REUTERS/Ints KalninsA Malaysian manager of Norway's largest oil services provider Aker Solutions was charged on Friday over allegations he submitted false documents in dealings with state-owned energy firm Petronas (PETR.UL), according to a court charge-sheet. The case comes amid a probe by Malaysia's Anti Corruption Commission (MACC) into whether Aker Solutions made false representations in order to win Petronas licences normally reserved for companies that meet ethnic quota requirements under Malaysian law. "By doing so, you have cheated by hiding the true facts of the company's shareholding where the interested beneficiary was actually the Aker Solutions group," the charge read out in court said. Aker Solutions declined comment when contacted on Friday.
Persons: Ahmad Hatta Kamaruzzaman, Devanandan S, Subramaniam, Ahmad Hatta, Wan Shaharuddin, Ahmed Hatta Organizations: Aker, REUTERS, Aker Solutions, Petronas, Kuala Lumpur Sessions Court, Reuters, Malaysia's Anti, Aker Engineering, Malaysian, Thomson Locations: Fornebu, Norway, Malaysian, Malaysia, Aker Engineering Malaysia
U.S. tire maker Goodyear loses dispute against foreign workers in Malaysia
  + stars: | 2021-06-10 | by ( Mei Mei Chu | ) sentiment -1.00   time to read: +2 min
A logo of Goodyear is pictured at it's factory in Shah Alam, Malaysia May 6, 2021. Goodyear Malaysia argued that the migrant workers did not have legal standing to file the complaint as they were not union members, according to the court documents. "This is just the tip of the iceberg albeit a significant milestone in the treatment of migrant workers in this company," said the workers' lawyer Chandra Segaran Rajandran. The court has already ruled in favor of the foreign workers in two of the cases last year. Goodyear is also facing accusations of unlawful overtime, wrongful salary deduction, denying workers full access to their passports, and threats to migrant workers, Reuters has reported.
Persons: Lim Huey Teng, Goodyear, Rasidah Chik, Rasidah, Chandra Segaran Rajandran Organizations: Goodyear, REUTERS, Goodyear Tire &, Goodyear Malaysia, Industrial, Court, Reuters, Thomson Locations: Shah Alam, Malaysia, Malaysian, Goodyear Malaysia, Nepal, Myanmar, India
Austria's AT&S plans $2 billion investment in Malaysian plant
  + stars: | 2021-06-10 | by ( Reuters Staff | ) + 1.00   time to read: +1 min
KUALA LUMPUR (Reuters) - Austria-headquartered semiconductor manufacturer AT&S Austria Technologie & Systemtechnik AG plans to invest 8.5 billion ringgit ($2 billion) to set up a production plant in Malaysia, its first in Southeast Asian, Malaysia’s International Trade and Industry Ministry said on Thursday. “Besides manufacturing of high-tech products, a significant amount of R&D activities will be executed at this new location,” AT&S Chief Executive Officer Andreas Gerstenmayer said. Malaysia has a mature electrical and electronics manufacturing sector that supplies to big names including Apple Inc. Exports from the sector make up about 40% of its total annual exports and approximately 7% of global semiconductor trade, according to the government. “AT&S’ footprint in Malaysia will also further boost the development of our semiconductor ecosystem, enable opportunities for our local vendors in the field of advanced electronics and spur high-tech employment for Malaysians,” Prime Minister Muhyiddin Yassin said. ($1 = 4.1170 ringgit)
Persons: Andreas Gerstenmayer, Muhyiddin Yassin Organizations: Reuters, Austria, Systemtechnik AG, Malaysia’s International Trade and Industry Ministry, Tech, Apple Inc, Exports, Locations: KUALA LUMPUR, Austria, Malaysia, Southeast, Kulim, Kedah, India, China, South Korea
read moreTop Glove, which has net cash of 4.23 billion ringgit, has said regulators were reviewing its listing process and it was working closely with advisers. On Wednesday, Top Glove reported a jump of 485% in third-quarter net profit benefiting from strong demand for gloves during the pandemic. A stock exchange filing showed net profit for the period jumped to 2.04 billion ringgit ($495.63 million) from 347.9 million a year ago. UBS had forecast a profit of 2.54 billion ringgit, according to Refinitiv data. Its revenue rose 147% to 4.16 billion ringgit.
Persons: Lim Huey Teng, Lee Kim Meow, Lim Wee Chai Organizations: REUTERS, Corp, Impactt, . Customs, Border Protection, Reuters, CBP, UBS, Thomson Locations: Shah Alam, Malaysia, U.S, Malaysian, London, United States, North America, Hong Kong
Malaysian markets were closed on Monday for a public holiday. "We reckon investors are still torn between chasing higher returns while keeping an eye on when the Fed's stance would change. The rupiah, favoured by foreign investors looking at Indonesia's high-yielding debt, held steady even as stocks dropped. Bank Indonesia data showed foreign exchange reserves fell by $2.4 billion in May amid capital outflows. Singapore stocks trimmed earlier losses that were largely in real estate firms and banks.
Persons: Eugene Leow, Nikhil Kurian, Shri Navaratnam Organizations: Stock, Malaysian, Fed, DBS, South Korean, Bank Indonesia, Singapore Airlines Ltd, Comfortdelgro Corp Locations: Singapore, Philippine, Malaysian, outflows, Java, Madura, Asia, Japan, China, India, Indonesia, Malaysia, Philippines, Taiwan, Thailand, Bengaluru
SoftBank and IonQ in Strategic Pact on Quantum Computing
  + stars: | 2021-06-08 | by ( Sara Castellanos | ) + 0.00   time to read: +5 min
IonQ is SoftBank’s first investment in quantum computing, said Kirthiga Reddy, partner at SoftBank Investment Advisers. PREVIEW“There’s an exponential increase in the need for computational power, and quantum computing uniquely helps enable that,” said Ms. Reddy, who led the IonQ investment. SoftBank Investment Advisers bought into IonQ through its Vision Fund 2. Eventually, SoftBank wants to use quantum computing to speed up calculations on machine-learning and materials science for some of its portfolio companies, Ms. Reddy said. Quantum computing can also be used for so-called optimization problems, which involve quickly finding the right answer to a problem with many variables.
Persons: Peter Chapman, Kirthiga Reddy, , Reddy, SoftBank, IonQ, Chapman, Chirag Dekate, IonQ’s, Sara Castellanos Organizations: IonQ Inc, SoftBank Group, SoftBank Investment Advisers, SoftBank Investment, Technology, Inc, Data Inc, IonQ, SoftBank, Karius Inc, Formlabs Inc, Amazon Web Services, Microsoft Corp, Chirag, Gartner Inc, Inc Locations: Md, Korean, Malaysian, sara.castellanos
Malaysian police say they have been using drones to monitor people's temperatures. The drones can detect body temperature changes from up to 65 feet in the air, officials say. Malaysia has been under lockdown since last Tuesday after a sharp rise in COVID-19 infections. Malaysian police have been using drones to detect people with high temperatures in crowds, according to local reports. Early in the pandemic, authorities in India, Italy, Oman, the US, and China experimented with drones to monitor temperatures, Slate reported in May 2020.
Persons: Md Isa, Rohaimi, Slate Organizations: Malaysian, Channel News Asia, Connecticut Locations: Malaysia, COVID, Malaysia's Terengganu, India, Italy, Oman, China
* Malaysian stocks fall nearly 1% * India's keeps rates steady * Most regional currencies set to post weekly losses By Sameer Manekar June 4 (Reuters) - Most emerging Asian equities declined on Friday, with Malaysian shares falling the most as domestic coronavirus cases rise, while currencies weakened after upbeat economic data from the United States boosted the dollar. Shares in Kuala Lumpur declined as much as 0.9% and the ringgit weakened about 0.2% as Malaysia reported 8,209 new daily coronavirus cases and 103 deaths on Thursday. "We reckon even as yields may inch up gradually and orderly, the RBI will continue to strive fixing skewed yield and maintain its preference for curve flattening." For the week, most regional currencies were on track to post modest losses except Malaysia's ringgit, which was set to end marginally higher. Most regional equities were set for mild weekly gains.
Persons: Sameer Manekar, South Korea's, Madhavi Arora, ines, Kim Coghill, Ramakrishnan Organizations: Malaysian, South, U.S, Federal Reserve, Reserve Bank of India, Emkay Global Financial Services, JK Locations: United States, Kuala Lumpur, Malaysia, U.S, Asia, Japan, China, India, Taiwan, Bengaluru
Regional equities were largely muted, though Malaysian shares lost nearly a percent as the country grapples with a surge in coronavirus infections and fresh lockdowns. "We see prospect for a bigger bounce in the U.S. dollar over the short term against Asian FX, assuming that payrolls are not overly weak." Indonesian stocks snapped a six-day winning streak, while the rupiah depreciated 0.3% to its lowest in a week. India's central bank is expected to keep interest rates at record lows and reiterate its commitment on liquidity later on Friday. But (it) will probably stay on hold with regards to headline policy tools," Mizuho bank said in a note.
Persons: S.Korea's, Sameer Manekar, Mitul Kotecha, Malaysia's, Maybank, India's, ines, Kim Coghill Organizations: South Korean, Federal Reserve, Malaysian, U.S, TD Securities, U.S ., FX, Reserve Bank of India,, COVID, JK Locations: Philippines, United States, U.S, Asia, Europe, Kuala Lumpur, Malaysia, Japan, Mizuho, Vietnam, China, India, Taiwan, Bengaluru
Biden Ramps Up Fight Against Corruption
  + stars: | 2021-06-04 | by ( Dylan Tokar | ) + 0.00   time to read: +3 min
The Biden administration in April said it would seek to boost the budget of the Treasury’s Financial Crimes Enforcement Network, or FinCEN, which is building the new database. The Treasury also will take additional steps to stop the purchase of real estate in the U.S. with proceeds from corruption, the Biden administration official said. The Biden administration’s new anticorruption push could lead to a broader focus among federal prosecutors on corruption and bribery. In 2010, the Justice Department launched the Kleptocracy Asset Recovery Initiative, a program under which prosecutors use civil forfeiture laws to seize and recover proceeds of foreign corruption. “What we may be seeing is a shift away from supply-side corruption enforcement, which is the FCPA, to the broader demand-side,” said Nathaniel Edmonds, a former prosecutor and a partner at the law firm Paul Hastings LLP.
Persons: Biden, U.S . Justice Department’s, , Nathaniel Edmonds, Paul Hastings, , Dylan Tokar Organizations: White, White House, U.S . Justice, U.S . Treasury Department, Treasury, Justice Department, Paul Hastings LLP Locations: U.S, Malaysian
Vortexa Analytics estimated a record 4.3 million tonnes of Malaysian bitumen blend arrived in China in May, of which 2.7 million tonnes had been discharged by May 24. That beats a previous record last December of 2.38 million tonnes reported by Chinese customs, and a pre-sanction high of 2.36 million tonnes for official Venezuelan crude in September 2016. "Traders were scrambling to clear the cargoes before June," said Emma Li, Vortexa's China oil analyst. THIN DISGUISEIn total, Chinese customs data showed China imported 24.5 million tonnes of Malaysian crude oil plus bitumen blend over 2019 and 2020, or 220,000 bpd. Malaysia produces only light, low-sulphur oils that are among "the world's most expensive", said a Malaysian oil industry official.
Persons: PDVSA's Jose Antonio, Carlos Garcia Rawlins, Liu Yuntao, crudes, Zhou Mi, JLC, Emma Li, Li, charterers Organizations: REUTERS, Traders, South, Trade Development Corp, Brent, Thomson Locations: PDVSA's, Anzoategui, China, Caracas, Venezuela, SHANDONG, Malaysian, Shandong, China's Liaoning, Iran, United States, South American, Malaysia, Asia
Malaysia's government finances are becoming "very constrained" as a surge in Covid-19 infections has once again forced the country into a lockdown, International Trade and Industry Minister Mohamed Azmin Ali told CNBC on Friday. The Malaysian government has announced a new stimulus package worth 40 billion Malaysian ringgit (roughly $9.68 billion) to help businesses and households cope with another round of "total lockdown" that started on Tuesday. That latest stimulus came on top of six prior packages worth a total 340 billion Malaysian ringgit (around $82.31 billion) rolled out over the past year. The government said the additional spending could push 2021's fiscal deficit above its target of 6% of gross domestic product. During the June 1-14 "total lockdown," businesses offering essential services will remain open while certain segments of the manufacturing sector can operate with reduced capacity.
Persons: Mohamed Azmin Ali, Azmin, CNBC's Organizations: Trade and Industry, CNBC, Malaysian
Malaysia warns of rising number of COVID-19 deaths, cases among children
  + stars: | 2021-06-04 | by ( ) sentiment -0.99   time to read: +2 min
Medical workers collect swab samples from people to be tested for the coronavirus disease (COVID-19) in Cyberjaya, Malaysia, June 2, 2021. REUTERS/Lim Huey TengMalaysian health authorities have raised concerns about a growing number of coronavirus deaths and serious cases involving children, after a surge in overall infections forced the Southeast Asian nation into a strict lockdown. Prime Minister Muhyiddin Yassin declared a two-week “total lockdown” from June 1-14, as daily COVID-19 cases and deaths hit record numbers, with the government warning the outbreak may be linked to more contagious variants. Noor Hisham did not say how many children had been tested for COVID-19 or if authorities planned to ramp up testing among minors. The health minister said on Thursday it was “not something impossible” for total COVID-19 deaths to hit 26,000 by September, as projected by the Institute of Health Metrics and Evaluation.
Persons: Lim Huey, Muhyiddin Yassin, Noor Hisham Abdullah, Noor Hisham, Adham Baba Organizations: REUTERS, Health Ministry, Malaysian Health, Institute of Health, Thomson Locations: Cyberjaya, Malaysia, Lim Huey Teng Malaysian, COVID, Singapore, India, Indonesia, Philippines
Data showed foreigners sold $12.05 billion worth of equities in South Korea, Taiwan, Philippines, Thailand, Vietnam, Indonesia, and India last month. The Philippine bourse lost as much as 1%, giving up some ground after surging more than 3% in the previous session. India's Nifty 50 advanced up to 0.8% to a record high, while the rupee was largely steady. The Reserve Bank of India (RBI) is expected to keep interest rates at record lows and reiterate its commitment on liquidity. In South Korea, shares ended 0.7% higher, marking their fifth consecutive session of gains, while won closed flat.
Persons: Sameer Manekar, Prakash Sakpal, Sakpal, Philipp, ines S.Korea, Simon Cameron, Moore, Sherry Jacob, Phillips Organizations: Data, Philippine bourse, Reserve Bank of India, ING Locations: Manila, Philippines, Malaysia, South Korea, Taiwan, Thailand, Vietnam, Indonesia, India, Japan, China, Bengaluru
Long bets on yuan near six-month high; ringgit bears firm
  + stars: | 2021-06-03 | by ( Shashwat Awasthi | ) + 0.00   time to read: +3 min
REUTERS/Dado Ruvic/IllustrationBullish bets on the Chinese yuan hit a near six-month high after a rally against the U.S. dollar, a Reuters poll showed on Thursday, while investors were long on most Asian currencies as nations ramped up their COVID-19 vaccination plans. After turning bearish on several units last month, market participants were now long on Singapore dollar , the Taiwanese dollar and the South Korean won , according to a fortnightly poll of 12 respondents. read moreThe Indian rupee , Asia's best performing currency in May, saw bullish positions firm to their highest since Feb 25. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3. The survey findings are provided below (positions in U.S. dollar versus each currency):Our Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Malaysia's ringgit, China's, Long, Radhika Rao Organizations: REUTERS, U.S ., Singapore, South Korean, FX, COVID, DBS, Investors, Malaysian, Thomson Locations: Malaysia, India, Mizuho, South Korea, Singapore, Thailand, Taiwan, Philippine
1 to the oil company's board, the company said on Wednesday, extending the firm's upset victory at one of America's most iconic corporations. 1 nominee Alexander Karsner, a strategist at Google owner Alphabet Inc , won the fund's third seat out of its 12-member board, according to a regulatory filing. Exxon board member and former Caterpillar (CAT.N) CEO Douglas Oberhelman also was elected, the company said. Directors Steven Kandarian, Samuel Palmisano and Wan Zulkiflee will exit the 12-person board, the filing said. Former Malaysian state oil company chief Zulkiflee was appointed in February after Exxon received blunt criticism its directors lacked energy experience.
Persons: Kathleen Flynn Exxon, Alexander Karsner, Douglas Oberhelman, Darren Woods, Woods, Steven Kandarian, Samuel Palmisano, Wan, Zulkiflee, Palmisano, Kaisa Hietala, Gregory Goff, Bess Joffe, Mark Stoeckle Organizations: ExxonMobil, REUTERS, Kathleen Flynn Exxon Mobil Corp, Exxon, Google, Inc, Caterpillar, Former, IBM, Marathon Petroleum, Church of England, Adams Funds, Thomson Locations: ExxonMobil Baton Rouge, Baton Rouge , Louisiana, U.S, Former Malaysian, England
UPDATE 1-Serba Dinamik shareholder PNB has 'deep concern' after audit issues raised
  + stars: | 2021-06-02 | by ( Liz Lee | ) sentiment -1.00   time to read: +1 min
(Adds background)KUALA LUMPUR, June 2 (Reuters) - Malaysian state-linked fund management company Permodalan Nasional Bhd (PNB) has expressed “deep concern” about the issues at Serba Dinamik Holdings Bhd , which is facing an investigation over unverified contracts. Serba said there are no issues with the contracts and plans to appoint an independent firm to review the issues. On Friday Serba’s second-largest shareholder proposed removing KPMG as auditor. PNB said it reserves its right to vote against any resolution to replace the current auditors. Abdul Kadier was listed as one of Malaysia’s top 50 richest people in 2020, according to Forbes.
Persons: Serba, PNB, Abdul Kadier Sahib, Abdul Karim Abdullah, Abdul Kadier Organizations: Permodalan Nasional, Serba Dinamik Holdings, KPMG, Malaysia’s Securities Commission, Reuters, BDO, Forbes Locations: KUALA LUMPUR, Malaysian
REUTERS/Lim Huey TengMalaysian telecoms firm Axiata Group Bhd (AXIA.KL) and RHB Bank Bhd (RHBC.KL) have jointly bid for a digital bank licence, the companies said on Wednesday. The announcement confirms a Reuters report on Monday that the companies were teaming up to apply for a digital bank licence. Boost will own a majority stake of 60%, while RHB will own the remaining in the digital bank, subject to approval from Bank Negara Malaysia, they said. Bank Negara is expected to finalise its decision towards the end of next year. The companies said the digital bank consortium would spearhead the group-wide partnership, which was formalised through a memorandum of understanding.
Persons: Lim Huey, Axiata's, RHB, Axiata Organizations: REUTERS, Lim Huey Teng, Axiata, RHB Bank, Boost Holdings, Bank Negara Malaysia, Bank Negara, Regulators, Thomson Locations: Kuala Lumpur, Malaysia, Lim Huey Teng Malaysian, Bank, Asia
Malaysia's AirAsia X gets shareholder go-ahead for restructuring plan
  + stars: | 2021-06-01 | by ( Liz Lee | ) + 0.70   time to read: +2 min
KUALA LUMPUR, June 1 (Reuters) - AirAsia X Bhd shareholders have approved the Malaysian budget airline’s debt restructuring, it said on Tuesday, allowing it to pursue a scheme it viewed as key to survival. AirAsia X last October proposed restructuring its 64.15 billion ringgit ($15.6 billion) debt into a principal amount of 200 million ringgit and having the rest waived. The meeting is scheduled for late July or August, AirAsia X said. In March, the court also granted AirAsia X a three-month order against any proceedings that may be filed against it, which could have slowed down its restructuring. AirAsia X in February proposed a separate restructuring programme for its aircraft lessors that aims to address their concerns about forward commercial agreements and the viability of the airline’s business after recapitalisation.
Persons: lessors, Liz Lee, Alexander Smith Organizations: AirAsia X, Malaysian, AirAsia Group, New, Airbus, BOC Aviation, BOCA Locations: KUALA LUMPUR, New York
Asia's stock markets also largely kicked off June on a positive note, though Malaysian and Philippine equities dipped as the pandemic continues to dominate government policies. The main event this week will be U.S. non-farm payrolls on Friday after the much-weaker-than-expected reading a month ago. The won gained half a percent, while the Taiwan dollar strengthened 0.3%, leading marginal gains elsewhere. Stock markets in both countries are underperforming their regional peers, with the Philippines down around 7% so far this year and Malaysia down nearly 3%. Equities in India, despite a devastating second-wave that ripped through the country through April and May, are among the region's best performers.
Persons: Goldman Sachs, Nikhil Nainan, Korea's, , Stocks, Nikhil Kurian, Simon Cameron, Moore Organizations: payrolls, Fed, Stock Locations: Malaysia, Philippine, Malaysian, United States, Asia, Mizuho, U.S, Taiwan, East, West, Philippines, India, China, Japan, Indonesia, Singapore, Thailand, Bengaluru
FILE PHOTO: A worker inspects newly-made gloves at Top Glove factory in Shah Alam, Malaysia August 26, 2020. REUTERS/Lim Huey TengHONG KONG (Reuters) - Top Glove Corporation’s plan to list in Hong Kong to raise up to $1 billion has been delayed as the world’s largest rubber glove maker seeks to resolve a U.S. import ban on its products, sources with direct knowledge of the matter said. The Malaysian firm, which is already listed in Kuala Lumpur and Singapore, flagged in late April it would sell 793.5 million shares in the listing, half what the company proposed in its application to the Hong Kong Stock Exchange in February. However, the deal has stalled as the company awaits indications from U.S. Customs and Border Protection (CBP) on whether an imports ban would be lifted any time soon, the sources said. The sources could not be named as the information was not yet made public.
Persons: Lim Huey Teng Organizations: REUTERS, Reuters, Hong Kong Stock Exchange, . Customs, Border Protection Locations: Shah Alam, Malaysia, Lim Huey Teng HONG KONG, Hong Kong, U.S, Malaysian, Kuala Lumpur, Singapore
A worker inspects newly-made gloves at Top Glove factory in Shah Alam, Malaysia August 26, 2020. REUTERS/Lim Huey TengTop Glove Corporation's (TPGC.KL) plan to list in Hong Kong to raise up to $1 billion has been delayed as the world's largest rubber glove maker seeks to resolve a U.S. import ban on its products, sources with direct knowledge of the matter said. The Malaysian firm, which is already listed in Kuala Lumpur and Singapore, flagged in late April it would sell 793.5 million shares in the listing, half what the company proposed in its application to the Hong Kong Stock Exchange in February. However, the deal has stalled as the company awaits indications from U.S. Customs and Border Protection (CBP) on whether an imports ban would be lifted any time soon, the sources said. The sources could not be named as the information was not yet made public.
Persons: Lim Huey Teng Organizations: REUTERS, Hong Kong Stock Exchange, . Customs, Border Protection, Thomson Locations: Shah Alam, Malaysia, Hong Kong, U.S, Malaysian, Kuala Lumpur, Singapore
Toyota, Honda temporarily halt production in Malaysia due to COVID-19 lockdown
  + stars: | 2021-06-01 | by ( ) sentiment -1.00   time to read: +1 min
The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China, April 19, 2021. REUTERS/Aly SongJapanese carmakers Toyota Motor Corp (7203.T) and Honda Motor Co (7267.T) have temporarily suspended production at their factories in Malaysia due to a nationwide coronavirus lockdown, the companies said on Tuesday. Toyota's subsidiary Daihatsu Motor, which makes compact cars, will also halt production between June 1 and 14, a spokesman said. A Honda spokesman said the automaker will temporarily close two plants during the lockdown. These plants, which annually make about 100,000 cars and 300,000 motorcycles, are expected to resume production from June 15, he said.
Persons: Aly, Muhyiddin Yassin Organizations: Toyota, Auto Shanghai, REUTERS, Toyota Motor Corp, Honda Motor, Malaysian, Friday, Daihatsu Motor, Honda, Thomson Locations: Shanghai, China, Malaysia
Malaysia says Chinese military planes came close to violating airspace
  + stars: | 2021-06-01 | by ( ) sentiment -1.00   time to read: +2 min
Malaysia's air force on Tuesday said 16 Chinese military transport planes had come close to violating Malaysian airspace, after they were detected conducting "suspicious" activity over the South China Sea. The Chinese planes did not contact the regional air traffic controller despite being instructed several times, the air force said. "This incident is a serious threat to national sovereignty and flight safety due to the air traffic density over the airways," the air force said in a statement. Malaysia's air force said the planes, comprising Ilyushin il-76 and Xian Y-20 strategic transporters, had traveled in an "in-trail" tactical formation at altitudes of between 23,000 and 27,000 feet. Last year, a Chinese survey ship held a month-long standoff with a Malaysian oil exploration vessel within Malaysia's exclusive economic zone in the South China Sea.
Persons: Xian Organizations: Malaysian, China's, Ilyushin, Thomson Locations: South China, Sarawak, Malaysian Borneo, Kuala Lumpur, China, Brunei, Malaysia, Philippines, Taiwan, Vietnam
Kuala Lumpur The Foreign Ministry of Malaysia on Tuesday said it would summon China's envoy to explain an "intrusion" by 16 People's Liberation Army Air Force planes into its Exclusive Economic Zone (EEZ), after Malaysia's military detected "suspicious" activity over the South China Sea. Malaysia's air force said it scrambled jets on Monday to conduct visual confirmation after the planes flew within 60 nautical miles off Sarawak state of Malaysian Borneo. It described the incident as a "serious threat to national sovereignty and flight safety." The Chinese planes did not contact regional air traffic control despite being instructed several times, the air force said. JUST WATCHED Why it matters who owns the seas Replay More Videos ... MUST WATCH Why it matters who owns the seas 03:48Foreign Minister Hishammuddin Hussein said Malaysia will issue a note of diplomatic protest and ask China's ambassador to Malaysia to explain the "breach of the Malaysian airspace and sovereignty."
Persons: Hishammuddin Hussein Organizations: Foreign Ministry, Liberation Army Air Force, Malaysian Locations: Kuala Lumpur, Malaysia, South China, Sarawak, Malaysian Borneo
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