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☆ Nine years on, families urge new search for missing Malaysia plane MH370
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] Family members of the victims pose for a group picture with a debris of the missing Malaysia Airlines flight MH370 during its sixth annual remembrance event in Putrajaya, Malaysia, March 7, 2020. REUTERS/Lim Huey Teng/File PhotoKUALA LUMPUR, March 5 (Reuters) - Families of those on board Malaysia Airlines flight MH370, which disappeared mysteriously nine years ago, called on the Malaysian government on Sunday to allow U.S. seabed exploration firm Ocean Infinity to mount a new search for the missing plane. The fate of flight MH370 became one of the world's greatest aviation mysteries when it disappeared en route from Kuala Lumpur to Beijing on March 8, 2014. In 2018, Malaysia engaged Ocean Infinity to search for the aircraft in the southern Indian Ocean, offering to pay up to $70 million if it found the plane. Ocean Infinity and Malaysia's transport ministry did not immediately respond to a request for comment.

☆ Former Malaysia PM Najib cleared of audit tampering in 1MDB graft scandal
▼ + stars: | 2023-03-03 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

KUALA LUMPUR, March 3 (Reuters) - A Malaysian court on Friday acquitted jailed former Prime Minister Najib Razak of audit tampering in one of the many cases he faces over a multi-billion corruption scandal at state fund 1Malaysia Development Berhad (1MDB). The acquittal comes amid renewed scrutiny on government graft under Prime Minister Anwar Ibrahim, whose administration had to partner with Najib's corruption-tainted party to form a government late last year. Friday's acquittal was on a charge of abusing his position as prime minister to amend a government audit into 1MDB. The fund's former chief executive Arul Kandasamy was charged with abetting Najib and was also cleared and both had pleaded not guilty. Najib faces three more cases related to corruption at various government entities and 1MDB, a fund he co-founded in 2009.

☆ Prison was 'brutal and distressing' says ex-Goldman Sachs banker who was locked up in Malaysia over the 1MDB scandal
▼ + stars: | 2023-03-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

US authorities convicted an ex-Goldman Sachs banker of bribery and money laundering in the 1MDB scandal. Ng, who also spent time in a Malaysian prison, said conditions were "brutal and distressing." "Six months in the Malaysian prison had a devastating effect mentally and physically," Ng wrote in his letter. The Malaysian Prison Department did not immediately respond to Insider's request for comment. In 2020, the former leader was sentenced to 12 years in prison for breach of trust, abuse of power, and money laundering in connection with 1MDB.

☆ Electric vehicle maker Tesla to open office in Malaysia
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: 1 min

Companies Tesla Inc FollowKUALA LUMPUR, March 1 (Reuters) - Malaysia on Wednesday said electric vehicle (EV) maker Tesla Inc (TSLA.O) will open an office in the Southeast Asian country and establish a network of charging stations for its cars. Tesla's application to import battery-run EVs into Malaysia has been approved, and the company will also open showrooms and services centres, Malaysia's trade ministry said in a statement. The U.S. firm's presence in Malaysia is expected to create skilled jobs and increase participation of local companies in the Tesla ecosystem, the ministry said. Malaysia did not say when Tesla would open an office. Reporting by A. Ananthalakshmi; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Abu Dhabi's IPIC and Aabar to pay Malaysia $1.8 bln to settle 1MDB dispute
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Feb 27 (Reuters) - Abu Dhabi's International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay $1.8 billion to settle a legal dispute over the scandal at Malaysian state fund 1MDB, Malaysia's finance ministry said on Monday. Malaysia in 2018 had filed a challenge in a London court against a settlement agreement between 1MDB and IPIC that had been negotiated a year earlier during the premiership of former leader Najib Razak. Najib was sentenced to 12 years in jail last year after being found guilty in a 1MDB-related corruption case. In its challenge, Malaysia had argued that the 2017 settlement was procured by fraud. Malaysia's 1MDB is the subject of corruption and money-laundering investigations in at least six countries.

☆ Malaysia's Anwar eyes smaller deficit in first budget, tightens spending
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +3 min

Anwar, in the report, said he will launch measures to strengthen the governance of public finances, and gradually reduce Malaysia's debt. Malaysia had earlier forecast 2023 growth at 4%-5%. Government expenditure this year is expected to total 386.1 billion ringgit ($87.11 billion), lower than last year's preliminary spending estimate of 395.2 billion ringgit. Revenue is expected to drop to 291.5 billion ringgit from 294.4 billion ringgit. State oil company Petronas (PETR.UL) is expected to pay the government a dividend of 40 billion ringgit, higher than the previous government's projection of 35 billion ringgit.

☆ North Korea confirms it tested ICBM, touts 'fatal nuclear counterattack' capabilities
▼ + stars: | 2023-02-18 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +3 min

SEOUL, Feb 19 (Reuters) - North Korea said on Sunday it had tested a Hwasong-15 intercontinental ballistic missile (ICBM) the previous day in a "sudden launching drill" that confirmed its readiness for "mobile and mighty counterattack" against hostile forces. North Korea launched a long-range ballistic missile into the sea off Japan's west coast on Saturday afternoon after warning of a strong response to upcoming military drills by South Korea and the United States. A North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur, Malaysia March 9, 2017. Analysts say North Korea is likely to conduct more weapons tests, including a possible new solid-fuel missile, which could help the North deploy its missiles faster in the event of a war. North Korea's ballistic missile and nuclear weapons programmes are banned under U.N. Security Council resolutions, but Pyongyang says its weapons development is necessary to counter "hostile policies" by Washington and its allies.

☆ Petronas units in Luxembourg seized again in $15 bln arbitration dispute
▼ + stars: | 2023-02-16 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

It obtained a stay on the award in France but the ruling remains enforceable overseas under a United Nations treaty on arbitration. The Petronas Azerbaijan (Shah Deniz) and Petronas South Caucasus units were first seized in July 2022, but the Malaysian government said last month that the order had been set aside by a Luxembourg district court. On Tuesday, Luxembourg court bailiffs issued a second seizure order on the units and related bank accounts, court documents shared by the heirs' lawyer, Paul Cohen, showed. The Luxembourg court could not be immediately reached for comment. The heirs say they were not involved in the incursion and sought arbitration over the suspension of payments.

☆ Shut out from their top destinations, Chinese travelers are turning to other places
▼ + stars: | 2023-02-14 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +5 min

Chinese travelers favored Southeast Asia for trips during the Lunar New Year holidays, which ended in early February, according to Trip.com Group's Chinese language booking website, Ctrip. Overseas hotel bookings by mainland Chinese travelers quadrupled from last year too, Ctrip said. He said of the 30 million tourists Thailand is expecting this year, 12 million to 15 million may come from China. South Korea announced last week it would resume issuing short-term visas to Chinese travelers, according to Reuters. Visas aside, Chinese travelers are also worried about getting sick, said Lee.

☆ Malaysia Q4 GDP up 7% on year earlier, above forecast
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: 1 min

KUALA LUMPUR, Feb 10 (Reuters) - Malaysia's economy in the fourth quarter grew 7% from a year earlier on continued expansion in domestic demand and resilient demand for electrical and electronics goods, Bank Negara Malaysia Governor Nor Shamsiah Mohd Yunus said on Friday. Gross domestic product (GDP) for all of 2022 had been 8.7% higher than in 2021, she said. Economists polled by Reuters had expected the central bank to report October-December GDP 6.6% higher than in the same period of 2021, slowing from the 14.2% annual growth seen in the third quarter. Reporting by Rozanna Latiff and Mei Mei Chu; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ Malaysia posts stronger-than-expected GDP in fourth quarter; global slowdown clouds outlook
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: +2 min

The headquarters of Bank Negara Malaysia, the nation's central bank, stand in Kuala Lumpur, Malaysia, on Thursday, March 4, 2010. The central bank has said it expects growth in full-year GDP to moderate to between 4% and 5% in 2023, amid a global slowdown. It added that did not discount the possibility of growth in 2023 being higher than expected, despite downside risks. "Malaysia will not go into a recession," Nor Shamsiah told reporters, adding that income was growing and investment numbers remained strong. The bank expected that over the course of 2023 headline and core inflation would moderate but remain elevated, she said.

☆ Putin likely supplied the missile that downed flight MH17 over Ukraine in 2014, investigators say
▼ + stars: | 2023-02-08 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Putin likely gave separatists the missile that hit flight MH17, investigators said on Wednesday. The team has been investigating the crash since August 2014, and said in a statement that there are "strong indications" that the Russian president decided on supplying the missile system to separatists in Ukraine. Investigators have previously said that the Malaysia Airlines plane was shot down by a Buk missile brought from Russia to a field in Ukraine. But, they added, it's not known whether their request explicitly mentioned the missile system that was later used to shoot down MH17. It was shot down over eastern Ukraine, where pro-Russian separatists had taken over parts of the country.

☆ Putin approved supply of missiles that shot down MH17 in 2014, investigators say
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Feb 8 (Reuters) - The international team investigating the 2014 downing of Malaysia Airlines Flight 17 (MH17) by a missile has convincing evidence that Russian President Vladimir Putin personally signed off on a decision to allow the Russian missile system into Ukraine, Dutch prosecutors said on Wednesday. The BUK-TELAR missile system was used to shot down MH17 on its way from Amsterdam to Kuala Lumpur over eastern Ukraine on July 17, 2014, investigators said. However, they said the evidence was not enough to lead to prosecution. Reporting by Bart Meijer; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

☆ Australia acknowledges suspension of probe into MH17 downing
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Feb 9 (Reuters) - The Australian government on Thursday said it had acknowledged the decision by international prosecutors to suspend their investigation into the downing of Malaysia Airlines Flight 17 (MH17) over Ukraine in 2014. "Today's announcement will be distressing for many," Wong said, adding Australia remained committed to pursue its ongoing case with the Netherlands in the International Civil Aviation Organization. Australia and the Netherlands have said they hold Russia responsible for MH17's downing. International prosecutors on Wednesday said they had found "strong indications" Russian President Vladimir Putin approved the use in Ukraine of a Russian missile system which shot down MH17. However, evidence of Putin's and other Russian officials' involvement was not conclusive enough to lead to a criminal conviction, they said, ending their probe for now.

KUALA LUMPUR, Feb 3 (Reuters) - U.S. customs authorities said palm oil products made by Sime Darby Plantation <SIPL.KL> were no longer produced with forced labour, in a sign that a two-year import ban on the Malaysian firm will soon be lifted. Goods made by Sime Darby Plantation, the world's largest palm oil company by land size, have been blocked by the U.S. Customs and Border Protection (CBP) from entering the United States since December 2020 over suspected abusive labour practices. Sime Darby said it was aware of the U.S. notice. Shares of Sime Darby Plantation eased 0.5% on Friday morning. Sime Darby Plantation is among eight Malaysian firms that have been banned by the United States in the past four years over forced labour allegations.

To secure egg supplies as prices rose to record highs, Malaysia's Minister of Agriculture and Food Security Mohamad Sabu visited Namakkal, in the southern Indian state of Tamil Nadu, where several leading hatcheries are based. India shipped 5 million eggs to Malaysia in December, and will ship 10 million in January and up to 15 million in February, according Kumar. The imports from India have helped Malaysia bring prices down from the record highs seen in late December. Having suffered a shortfall of 157 million eggs in November, the market gap was down to just one million in December, the Malaysian minister said in a statement earlier this week. Meantime, prices in India have shot up to a record 565 rupees ($6.96) per 100 eggs.

☆ Malaysia surprises by holding rates as economic risks loom
▼ + stars: | 2023-01-19 | by ( A. Ananthalakshmi | ) www.reuters.com time to read: +2 min

Bank Negara Malaysia held the overnight policy rate at 2.75%. "Today's decision allows the monetary policy committee to assess the impact of the cumulative past overnight policy rate (OPR) adjustments, given the lag effects of monetary policy on the economy," Bank Negara Malaysia said in a statement. Future monetary policy moves would depend on both domestic inflation and the growth outlook, it said. The central bank has said growth in 2022 likely surpassed the government's 6.5%-7% forecast, but would drop to 4%-5% this year. Capital Economics said it now expects the Malaysian central bank to hold interest rates unchanged for the rest of the year, and begin cutting in 2024.

☆ GAIL India seeks two LNG cargoes for February delivery - sources
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

Companies GAIL (India) Ltd FollowKUALA LUMPUR, Jan 17 (Reuters) - GAIL (India) Ltd (GAIL.NS) has issued a buy tender seeking two liquefied natural gas (LNG) cargoes for delivery into India, two industry sources said on Tuesday. India's largest gas distributor is seeking the cargoes for delivery during the month of February on a delivered ex-ship (DES) basis into the country's Dabhol terminal. The tender closes on Wednesday, Jan. 18, added the sources. Reporting by Emily Chow; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Explainer: Why Malaysia is considering a ban on palm oil exports to the European Union
▼ + stars: | 2023-01-13 | by ( Mei Mei Chu | ) www.reuters.com time to read: +3 min

It is not clear whether Malaysia is considering a direct ban on exports to the European Union or enacting tariffs. WHAT ABOUT MALAYSIAN PALM OIL EXPORTS TO EUROPE? Malaysian Palm Oil Board data indicates that exports to the 27-member bloc have been declining since 2015. WHERE ELSE CAN MALAYSIA PALM OIL EXPORTS GO? Several publicly-listed Malaysian palm oil companies, however, have established refineries in Europe and an export ban would disrupt their operations.

Indonesia, producer of more than half of global palm oil supplies, also tightened trade rules this year, allowing exporters to ship just six times their domestic palm oil sales volume, less than a fourth-quarter 2022 ratio of eight times. "Indonesian palm oil export definitely will drop, as output will decline, domestic consumption will increase," Fadhil Hasan, an Indonesian Palm Oil Association (GAPKI) official, told Reuters. Indonesia produced 51.3 million tonnes of palm oil in 2022 and exported 33.7 million tonnes, GAPKI estimated. In 2023, palm oil output is expected at 50.82 million tonnes and exports at 26.42 million tonnes, it said. "But India's strong demand for palm oil will continue as it is still the cheapest edible oil."

☆ Malaysia says it could stop palm oil exports to EU after new curbs
▼ + stars: | 2023-01-12 | by ( Mei Mei Chu | ) www.reuters.com time to read: +2 min

Since the EU is a major palm oil importer, the law, agreed to in December, has raised an outcry from Indonesia and Malaysia, the top producers. CPOPC, which is led by Indonesia and Malaysia, has previously accused the EU of unfairly targeting palm oil. EU demand for palm oil was expected to decline significantly over the next 10 years even before the new law was agreed to. Fadillah said: “This will mean that we will have to be more coordinated in our efforts in conveying our stand and stance on policy matters that will affect the socio-economic wellbeing of our respective countries.”The EU is the world’s third-largest palm oil consumer, according to Malaysian Palm Oil Board data. It accounts for 9.4% of palm oil exports from Malaysia, taking 1.47 million tonnes in 2022, down 10.5% from a year earlier.

☆ Malaysian urges palm oil producers to boost cooperation after EU rules
▼ + stars: | 2023-01-12 | by ( Mei Mei Chu | ) www.reuters.com time to read: +1 min

Slideshow ( 2 images )KUALA LUMPUR (Reuters) - Malaysia on Thursday called on countries producing palm oil to strengthen cooperation following new European Union (EU) legislation aimed at reducing the use of palm oil-based fuels. The EU is a key palm oil importer but demand is expected to fall significantly within the next 10 years due to a renewable energy directive to phase out palm-based transport fuels by 2030 over perceived links to deforestation. Malaysian Commodities minister Fadillah Yusof urged the Council of Palm Oil Producing Countries (CPOPC) - led by Indonesia and Malaysia - to work together against the new regulations and to combat “baseless allegations” made by the EU and the United States about the sustainability of the edible oil. CPOPC had previously accused the EU of unfairly targeting palm oil and creating trade barriers. Indonesian President Joko Widodo and Malaysian Prime Minister Anwar Ibrahim this week agreed to “fight discrimination against palm oil” and strengthen cooperation through CPOPC.

☆ Indonesia and Malaysia agree to fight "discrimination" against palm oil
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

BOGOR, Indonesia, Jan 9 (Reuters) - Indonesia and Malaysia, the world's biggest producers of palm oil, agreed on Monday to work together to fight "discrimination" against the commodity after a meeting between leaders from the countries. The comments by Indonesian President Joko Widodo followed a meeting with Malaysian Prime Minister Anwar Ibrahim, who was making his first overseas trip since being elected last November. Widodo, popularly known as Jokowi, said the two countries would "fight discrimination against palm oil" and "strengthen cooperation through the Council of Palm Oil Producing Countries" to address concerns. The new capital could boost regional development, Anwar said, with the Malaysian states of Sabah and Sarawak located in the Malaysian part of Borneo island. "We hope the development of the capital will bring greater benefits to the wider region, including on Sabah and Sarawak," he said.

☆ With few entry tests, Southeast Asia may gain most from China's travel revival
▼ + stars: | 2023-01-06 | by ( Xinghui Kok | ) www.reuters.com time to read: +4 min

Except for airplane wastewater testing by Malaysia and Thailand for the virus, the region's 11 nations will treat Chinese travellers like any others. As many as 76% of Chinese travel agencies ranked Southeast Asia as the top destination when outbound travel resumed, according to a survey released in December by trade show ITB China. Thailand already expects to welcome 5 million Chinese travellers this year, or about half of the 10.99 million of 2019. Neighbouring Malaysia projects 1.5 million to 2 million Chinese tourists this year versus 3 million before the pandemic. "But for Cambodia, it’s an invitation to Chinese people: Chinese tourists, come to Cambodia."

☆ Here's a list of places imposing rules on travelers from China as Covid surges
▼ + stars: | 2023-01-01 | by ( ) www.cnbc.com time to read: +4 min

Authorities around the world are imposing or considering curbs on travelers from China as Covid-19 cases in the country surge following its relaxation of "zero-Covid" rules. Places imposing curbsUnited StatesThe United States will impose mandatory Covid-19 tests on travelers from China beginning on Jan. 5. IndiaThe country has mandated a Covid-19 negative test report for travelers arriving from China, Hong Kong, Japan, South Korea and Thailand, the health minister said. Sopa Images | Lightrocket | Getty ImagesJapan will require a negative Covid-19 test upon arrival for travelers from mainland China. South KoreaSouth Korea will require travelers from China to provide negative Covid test results before departure, South Korea's News1 news agency reported on Friday.

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