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☆ Malaysia is emerging as a data center powerhouse amid booming demand from AI
▼ + stars: | 2024-06-17 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

Over the past few years, the country has attracted billions of dollars in data center investments, including from tech giants like Google , Nvidia and Microsoft . Data center capacity is typically measured by the amount of electricity it consumes. Until then, Japan followed by Singapore currently lead the region in terms of live data center capacity. The index did not provide a detailed breakdown of data center capacity in China. Kenanga Investment Bank Research estimates that potential electricity demand from data centers in Malaysia will hit a total maximum demand of 5 GW by 2035.

Persons: James Murphy, APAC, Murphy, Byte's Murphy, it's Organizations: Luza, Getty, Malaysia, Google, Nvidia, Microsoft, DC, Authorities, Kenanga Investment Bank Research, Tenaga Nasional Berhad Locations: Southeast Asia, Johor Bahru, Singapore, Asia, Malaysia, Japan, India, China, Hong Kong, Malaysian

☆ The ringgit's weakening is a 'real cost pressure to us,' says Malaysian farming company
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe ringgit's weakening is a 'real cost pressure to us,' says Malaysian farming companyLoi Tuan Ee of Farm Fresh Berhad says that's because it imports a "significant amount" of its feed.

Persons: Tuan Organizations: Berhad Locations: Malaysian

☆ Middle East Crisis Israeli’s Military Turns Back Convoy Trying to Get Food Into Gaza, U.N. Agency Says
▼ + stars: | 2024-03-06 | by ( Anushka Patil | ) www.nytimes.com time to read: +3 min

Starbucks franchise operators across the Middle East and Southeast Asia are losing significant business amid boycotts linked to the Israel-Hamas war, and at least one has started laying off employees. “I think all those who are boycotting Starbucks Malaysia should know that it is a Malaysia-owned company,” he said. A similar post was published on the site for Starbucks in the Middle East. In January, Starbucks cut its global annual sales forecast as the Israel-Hamas war hurt the business of its licensees in the Middle East. Starbucks said it would continue to grow its business in the Middle East, including working with Alshaya Group in developing plans for the region.

Persons: Vincent Tan, ”, Laxman Narasimhan, Howard Schultz Organizations: Starbucks, Alshaya, Hamas, Food Berhad, Starbucks Malaysia, Alshaya Group Locations: East, Southeast Asia, Israel, Kuwait, North Africa, United States, Malaysia

☆ AirAsia unit heads for U.S. listing through SPAC deal as CEO says 'Americans understand branding'
▼ + stars: | 2024-02-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

AirAsia airplanes are pictured on the tarmac at Kuala Lumpur International Airport in Sepang on January 8, 2024. Malaysian conglomerate Capital A intends to sell its budget carrier business to medium- to long-haul affiliate AirAsia X in a major consolidation of the country's airline industry. Brand licensing opportunities could include hotels, mobile services and airlines in markets such as south Asia and Africa where AirAsia does not have subsidiaries, Fernandes said. The deal values the new company, Capital A International, at $1.15 billion, according to a release Wednesday. That will create a unified Air Asia Group, Fernandes said, which is targeting a $400 million equity raise, according to Reuters.

Persons: Tony Fernandes, —, " Fernandes, Fernandes Organizations: AirAsia, Kuala, Capital, AirAsia X, Nasdaq, CNBC, Asean, Malaysian, Berhad, Air, Air Asia Group, Reuters, Aetherium, International Locations: Kuala Lumpur, Sepang, U.S, Malaysia, Asia's, America, Southeast Asia, Asia, Africa, Malaysian, Air Asia

☆ Malaysia halves jail sentence of ex-prime minister Najib
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +3 min

Najib Razak, Malaysia's former prime minister, gestures as he leaves the Kuala Lumpur Courts Complex in Malaysia, on Thursday, Sept. 20, 2018. The board, chaired by Malaysia's king, did not give a reason for halving Najib's sentence. It said if Najib failed to pay the fine given, an additional year would be imposed on his jail term. Malaysia's king plays a largely ceremonial role but can pardon convicted people among discretionary powers granted by the federal constitution. The pardons board, which advises the king, includes the attorney-general and government officials.

Persons: Najib Razak, Anwar Ibrahim's, Anwar, Najib, Malaysia's, Jho Low, Al, Sultan Abdullah Ahmad Shah, Sultan Abdullah, Sultan Ibrahim Sultan Iskandar Organizations: United National Malays Organisation, 1Malaysia Development, Saudi Locations: Kuala Lumpur, Malaysia, Johor .

☆ Malaysia Pardons Board Halves Jail Sentence of Jailed Ex-Pm Najib
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: 1 min

KUALA LUMPUR (Reuters) - A Malaysian pardons board on Friday said it has decided to halve the jail sentence of former Prime Minister Najib Razak, who was convicted of graft and money laundering related to the multibillion-dollar 1MDB scandal. Najib, who is serving a 12-year jail term, will be released in August 2028 and fines imposed on him reduced to 50 million ringgit ($10.59 million) from 210 million ringgit, the board's secretariat said in a statement. Najib was jailed for graft linked to state fund 1Malaysia Development Berhad (1MDB), from which U.S. and Malaysian investigators estimate $4.5 billion was stolen and more than $1 billion channeled to accounts linked to the former premier. ($1 = 4.7220 ringgit)(Reporting by Rozanna Latiff; Editing by Martin Petty)

Persons: Najib Razak, Najib, Rozanna Latiff, Martin Petty Organizations: Reuters, Malaysian, 1Malaysia Development Locations: KUALA LUMPUR

☆ Malaysia Cabinet Discusses Najib Pardon Bid, but Won't Announce Outcome - Minister
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

It will be at the discretion of the Pardons Board to announce its decision, Saifuddin Nasution Ismail said at a press conference on immigration and labour issues, which was packed with media seeking news on Najib's clemency bid. Najib requested a royal pardon shortly after beginning his sentence in 2022 and after exhausting all other appeals. Najib's lawyer and representatives, as well as Malaysia's attorney-general, a member of the pardons board, did not respond to Reuters' requests for comment. "Let us not jump the gun, let us wait for an official statement to be made," Communications Minister Fahmi Fadzil said at a separate press briefing. U.S. and Malaysian investigators estimate around $4.5 billion was stolen from 1MDB, with more than $1 billion channeled to accounts linked to Najib.

Persons: Danial Azhar, Najib Razak, Saifuddin Nasution Ismail, Najib, Prime Minister's Department Zaliha Mustafa, Najib's, Fahmi Fadzil, Jho Low, Nooryana Najwa Najib, pensively, Martin Petty Organizations: Reuters, 1Malaysia Development, Prime Minister's Department, Communications, Saudi Locations: KUALA LUMPUR

☆ Jailed former Malaysian PM Najib in hospital with COVID-19
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +2 min

Former Malaysian Prime Minister Najib Razak attends a news conference at the Federal Court in Putrajaya, Malaysia August 16, 2022. REUTERS/Hasnoor Hussain Acquire Licensing RightsKUALA LUMPUR, Nov 2 (Reuters) - Malaysia's jailed former prime minister Najib Razak has been admitted to a hospital after testing positive for COVID-19, his spokesperson said on Thursday. Najib, 70, is in stable condition and is undergoing quarantine and treatment at the hospital, his aide, Muhamad Mukhlis Maghribi, said. U.S. and Malaysian investigators estimate some $4.5 billion was stolen from 1MDB - co-founded by Najib during his first year as prime minister in 2009 - and that more than $1 billion went to accounts linked to Najib. Since then, Najib has been in and out of hospital for several issues, including stomach ulcers and high blood pressure.

Persons: Najib Razak, Hasnoor Hussain, Malaysia's, Najib, Muhamad Mukhlis Maghribi, Rozanna Latiff, Robert Birsel Organizations: Malaysian, Federal, REUTERS, 1Malaysia Development, Thomson Locations: Putrajaya, Malaysia, KUALA LUMPUR

☆ AirAsia CEO Tony Fernandes criticized for LinkedIn post showing topless massage during meeting
▼ + stars: | 2023-10-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The head of low-cost airline AirAsia has deleted a social media post apparently showing him taking a business meeting while topless and receiving a massage after it sparked heavy criticism. Tony Fernandes wrote in a LinkedIn post accompanying the picture on Monday: "Got to love Indonesia and AirAsia culture that I Can [sic] have a massage and do a management meeting." Social media users were quick to criticize the post, with many saying it would make employees uncomfortable and was highly inapproriate. He is a frequest social media user and, since the furor, has posted twice more on LinkedIn, while not referencing the massage post. And you know who your friends and supporters are and who would be the first to throw the stone," he wrote in a LinkedIn post Wednesday.

Persons: Tony Fernandes, Fernandes Organizations: AirAsia, Twitter, Berhad, Malaysian, Queens Park Rangers Football Club, Caterham, One, LinkedIn, CNBC Locations: Indonesia, Malaysia

☆ Malaysia says Goldman Sachs suit 'premature' amid dispute over 1MDB settlement
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Olivia Harris/File Photo Acquire Licensing RightsKUALA LUMPUR, Oct 12 (Reuters) - A Malaysian government task force said on Thursday it viewed Goldman Sachs' (GS.N) filing of arbitration proceedings as premature, after the firm sued Malaysia in a British court this week amid an escalating dispute over a 2020 settlement deal. Goldman Sachs in 2020 had agreed to pay $3.9 billion to settle Malaysia's criminal probe over its role in the multi-billion dollar 1MDB corruption scandal. Malayia's 1MDB task force said Goldman Sachs had requested an extension on a Nov. 8 deadline for discussions to settle the dispute. Goldman Sachs lodged its suit less than two months after Malaysian Prime Minister Anwar Ibrahim threatened to take the company to court. Goldman had helped 1MDB raise $6.5 billion in two bond offerings, earning itself $600 million in fees, according to the U.S. Justice Department.

Persons: Olivia Harris, Goldman Sachs, Goldman, Malayia's, Johari Abdul Ghani, Johari, Anwar Ibrahim, Rozanna Latiff, Martin Petty, Simon Cameron, Moore Organizations: Development, Exchange, REUTERS, Malaysia, Malaysian, U.S . Justice Department, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Malaysian, U.S

☆ Goldman Sachs sues Malaysia as discord over 1MDB settlement escalates
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

Men walk past a 1 Malaysia Development Berhad (1MDB) billboard at the funds flagship Tun Razak Exchange development in Kuala Lumpur March 1, 2015. REUTERS/Olivia Harris/ File Photo Acquire Licensing RightsOct 11 (Reuters) - Goldman Sachs Group (GS.N) is suing Malaysia in a UK court, a source familiar with the matter told Reuters, as tensions escalate over a settlement linked to its role in the 1MDB investment-fund scandal. The arbitration has been filed with the London Court of International Arbitration (LCIA), the source said. In 2020, Goldman Sachs had agreed to pay $3.9 billion to settle Malaysia's criminal probe over the U.S. investment bank's role in the multibillion-dollar 1MDB scandal. The United States has been returning funds it has recovered from seized assets that were allegedly bought with stolen 1MDB money.

Persons: Olivia Harris, Goldman Sachs, Najib Razak, Goldman, Samrhitha, Shinjini Organizations: Malaysia Development Berhad, Tun, Exchange, REUTERS, Goldman Sachs, London Court, International, Government, Reuters, Malaysian, Prosecutors, United, Bloomberg News, Thomson Locations: Malaysia, Kuala Lumpur, U.S, United States, Bengaluru

☆ Malaysia's Petronas launches first commercial 5G private network - Deputy PM
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: 1 min

A logo of Petronas is seen at their office in Kuala Lumpur, Malaysia, April 27, 2022. REUTERS/Hasnoor Hussain/File Photo Acquire Licensing RightsKUALA LUMPUR, Oct 6 (Reuters) - Malaysia state energy firm Petroliam Nasional Berhad (Petronas) on Friday launched the country's first commercial private 5G network, a deputy prime minister said. "The deployment of the PETRONAS 5G Private Network sets the stage for a dynamic partnership between the government, private sector, and academia," Fadillah Yusof said. Reporting by Rozanna Latiff; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Hasnoor Hussain, Fadillah Yusof, Rozanna Latiff, Martin Petty Organizations: Petronas, REUTERS, Petroliam Nasional Berhad, Friday, PETRONAS 5G Private Network, Thomson Locations: Kuala Lumpur, Malaysia, KUALA LUMPUR, Petroliam

☆ Malaysia's switch to dual 5G network can allow participation of China's Huawei - PM
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Sept 27 (Reuters) - Malaysia Prime Minister Anwar Ibrahim said on Wednesday a switch to having a dual 5G network would allow for more effective participation by China's Huawei, providing his country with a balance of both Western and Eastern technology. Anwar on Wednesday acknowledged concerns from some countries over the "security and capacity" of technology stemming from China, but said the decision to allow a second 5G network was made so that Malaysia could benefit from different technologies. "After extensive discussion... we made the decision to allow for a dual network, and thus the decision for more effective participation by Huawei." State-run DNB partnered with Swedish telecoms giant Ericsson to roll out Malaysia's 5G network. It is unclear how Malaysia's plan for a second network would affect DNB's agreement with Ericsson or other mobile operators.

Persons: Anwar Ibrahim, Anwar, Rozanna Latiff, Martin Petty Organizations: Malaysia, Huawei, European Union, U.S, Financial Times, Digital Nasional Berhad, Ericsson Locations: KUALA LUMPUR, Malaysia, China, Kuala Lumpur

Malaysia's Prime Minister Anwar Ibrahim attends the 26th ASEAN-China Summit at the 43rd ASEAN Summit in Jakarta, Indonesia, on September 6, 2023. Hassan Karim, a lawmaker from Anwar's People's Justice Party, said he felt "let down" by the premier, whom he described as a close friend. The AGC has said it dropped charges against Ahmad Zahid to review new evidence, and reiterated that its decisions were made independently. On Saturday, around 1,000 people turned up at a protest in Kuala Lumpur organised by Malaysia's opposition, calling for Ahmad Zahid to be prosecuted and chanting "reforms are dead." Najib has sought a royal pardon over his conviction and requested other charges that he faces to be reviewed.

Persons: Anwar Ibrahim, Yasuyoshi, Anwar Ibrahim's, Anwar, Ahmad Zahid Hamidi, Najib Razak, Hassan Karim, Ahmad Zahid, Najib, MUDA, Syed Saddiq Syed Abdul Rahman, Syed Ibrahim Syed Noh, Ahmad Zahid's, Wong Chin Huat, Wong, Rozanna Latiff, Danial Azhar, Hasnoor Hussain, Kim Coghill Organizations: Malaysia's, China, ASEAN Summit, 1Malaysia Development, People's Justice Party, Reuters, United Malays National Organisation, Malaysia's Sunway University, Thomson Locations: ASEAN, Jakarta, Indonesia, KUALA LUMPUR, Malaysia, Kuala Lumpur

☆ Malaysia fails to appeal ex-PM Najib's acquittal in 1MDB audit tampering case
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

Former Malaysian Prime Minister Najib Razak speaks to journalists outside the Federal Court during a court break, in Putrajaya, Malaysia August 23, 2022. Najib, 70, is serving a 12-year jail sentence for another corruption case linked to 1Malaysia Development Berhad (1MDB). The attorney-general's chambers was expected to appeal Najib's acquittal earlier this year of a charge of abusing his position as prime minister to amend a government audit into 1MDB . But Najib's lawyers at Shafee & Co said in a statement, "the prosecution evidently found no grounds for appeal" and did not file the petition. Anwar has maintained that the move to drop the case, which triggered a widespread public backlash, was made without his interference.

Persons: Najib Razak, Lai Seng, Anwar Ibrahim, Anwar, Najib, Ahmad Zahid Hamidi, Danial Azhar, Kanupriya Kapoor Organizations: Malaysian, REUTERS, 1Malaysia Development, Shafee, U.S . Justice Department, Malaysian United Democratic Alliance, Thomson Locations: Putrajaya, Malaysia, KUALA LUMPUR, 1MDB

☆ AirAsia's operations to return to pre-pandemic level by Dec, says Capital A CEO
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

The logo of AirAsia under Capital A is seen displayed in this illustration picture taken March 7, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSINGAPORE, Sept 11 (Reuters) - Capital A Berhad (CAPI.KL), parent of Malaysian budget airline AirAsia, expects to see the carrier's operations returning to pre-pandemic levels by December, Capital A CEO Tony Fernandes told Reuters on Monday. The target indicates a slight delay from his earlier forecast of putting all 204 of its fleet back in service by August. Fernandes did not elaborate on the delay, but said drivers for capacity growth included improving demand from migrating workforce, tourism, students and connecting travellers. Reporting by Yantoultra Ngui; Editing by Himani Sarkar and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Tony Fernandes, We'll, Fernandes, Yantoultra Ngui, Himani Sarkar, Muralikumar Organizations: AirAsia, REUTERS, Rights, Berhad, Malaysian, Capital, Reuters, Forbes Global, Thomson Locations: Capital, Rights SINGAPORE, Singapore

☆ Malaysia PM vows to recover Goldman Sachs 1MDB settlement, warns of possible lawsuits
▼ + stars: | 2023-08-21 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

Nurphoto | Nurphoto | Getty ImagesMalaysia's Prime Minister Anwar Ibrahim has vowed to recover the money Malaysians are owed from the 1MDB money laundering scandal, and says he hasn't ruled out the possibility of a lawsuit against Goldman Sachs. Anwar said Malaysian agencies were still in talks with Goldman Sachs, though ongoing discussions are "a bit complex." Asked to comment on Anwar's interview, Goldman Sachs referred CNBC to its second quarter earnings statement. It remains to be seen what would come out of the standoff between Malaysia and Goldman Sachs. "No one can deny the fact that Goldman Sachs was used, and partly used the authorities," Anwar said in his interview.

Persons: Malaysia's, Anwar Ibrahim, Malaysia's King, hasn't, Goldman Sachs, Anwar, CNBC's Martin Soong, Goldman, Muhyiddin Yassin, I've, —, Mahathir Mohamad, Anwar Malaysia's, Anwar's Pakatan, Najib Razak, Muhyiddin, Islam that's Organizations: Nurphoto, Getty, Malaysia's, 1Malaysia, Malaysia, CNBC, of, Malaysian, Barisan Nasional, Barisan, Perikatan Nasional coalition, Islamic, Malay Locations: Kuala Lumpur, Putrajaya, Malaysia, Malaysian, Anwar Ibrahim Malaysia, U.S, of Malaysia, United States, Malay, Federal

☆ Malaysia reverses plan to take legal action against Meta over harmful content
▼ + stars: | 2023-07-28 | by ( Rozanna Latiff | ) www.reuters.com time to read: +3 min

KUALA LUMPUR, July 28 (Reuters) - Malaysia may not go through with a plan to take legal action against Facebook parent Meta Platforms (META.O) following "positive" engagement with the firm on tackling harmful content on the social media platform, communications minister Fahmi Fadzil said in an interview on Friday. "I don't think MCMC needs at this point in time to initiate any legal action. I think this level of cooperation is very positive," he said, adding that the government was considering measures such as fines against social media platforms if they failed to tackle harmful content. Facebook is Malaysia's biggest social media platform, with an estimated 60% of the country's 33 million people having a registered account. The take-downs, he said, were likely to have been made in response to complaints made by ordinary users for violating social media guidelines.

Persons: Fahmi Fadzil, Fahmi, Meta, Anwar Ibrahim's, Rozanna Latiff, Angus MacSwan Organizations: Facebook, Malaysian Communications and Multimedia Commission, Meta, Malaysian, Digital Nasional Berhad, Thomson Locations: KUALA LUMPUR, Malaysia, Malay

☆ Malaysia telecoms firms complete talks to take up stakes in 5G agency
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, July 21 (Reuters) - Malaysia said on Friday telecommunications firms CelcomDigi, Maxis, Telekom Malaysia, U Mobile and YTL Communications will take up stakes in state 5G agency Digital Nasional Berhad (DNB), following an agreement reached between the firms and the government on equity participation and 5G access. The announcement comes as mobile operators and the government look set to conclude protracted negotiations over Malaysia's 5G rollout plans. Malaysia had in 2021 announced that state-owned DNB would own the full 5G spectrum, with carriers using the infrastructure to provide mobile services. Mobile operators agreed in October last year to take up 70% of DNB's stake to resolve the impasse. Other carriers had signed the deal last year, paving the way for 5G services to be rolled out to customers.

Persons: Anwar Ibrahim's, Rozanna Latiff, Kanupriya Kapoor Organizations: CelcomDigi, Maxis, Telekom Malaysia, U Mobile, YTL Communications, Digital Nasional Berhad, Malaysia's, Mobile, Maxis Berhad, Thomson Locations: KUALA LUMPUR, Malaysia

☆ Malaysia's Maxis agrees to use state-run 5G network
▼ + stars: | 2023-07-15 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, July 15 (Reuters) - Malaysian mobile operator Maxis Bhd (MXSC.KL) said it will sign an agreement to access the country's state-run 5G network, the last major carrier to get on board a contentious rollout. "(As of today), there is no alternative wholesale network providers undertaking the deployment of 5G infrastructure and network," Maxis said. The company expects to incur operating expenses of about 360 million ringgit ($79.59 million) per year for the access agreement. Signing of the access agreement with DNB is a crucial step to deploy 5G. DNB has defended itself from criticism over pricing, saying it will charge operators less to access its 5G network than their costs for 4G.

Persons: Michael Perry Organizations: Maxis, Nasional Berhad, 4G, Thomson Locations: KUALA LUMPUR, Malaysian, Malaysia

☆ Malaysia's Khazanah Nasional Berhad explains its strategy for volatility
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMalaysia's sovereign wealth fund on rebalancing portfolio for greater resilience in volatile marketsManaging Director Amirul Feisal Wan Zahir said there are opportunities even in the current volatile environment.

Persons: Amirul Feisal Wan Zahir

☆ Ex-aide to 1MDB fugitive Jho Low dies weeks after questioning
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, May 31 (Reuters) - A former aide to Malaysian fugitive Jho Low - wanted for his central role in the multi-billion dollar 1MDB corruption scandal - has died weeks after being questioned by Malaysian authorities on Low's whereabouts, his lawyers said on Wednesday. He was questioned by the Malaysian Anti-Corruption Commission (MACC) on arrival and had his house searched, media reported. Malaysian authorities have previously said Low was believed to be in China, though Beijing has denied that. Low has been charged in Malaysia and the United States for allegedly masterminding the theft of $4.5 billion from now-defunct fund 1Malaysia Development Berhad (1MDB). Former Malaysian prime minister Najib Razak, who co-founded 1MDB, was sentenced to 12 years in prison last year for graft linked to the scandal.

Persons: Jho, Kee Kok Thiam, Valen, Kee, Al Jazeera, Al, Low, Najib Razak, Hasnoor Hussain, Rozanna Latiff, Kanupriya Kapoor Organizations: Malaysian, Partners, Malaysian Anti, Corruption, 1Malaysia Development, Thomson Locations: KUALA LUMPUR, Malaysian, U.S, Malaysia, Macau, 1MDB, China, Al Jazeera, Beijing, United States

Malaysia has now decided to allow a second entity after DNB's coverage reaches 80% of populated areas, Communications Minister Fahmi Fadzil said in a statement. The government's announcement confirmed a report by Reuters last month on a plan to introduce a second 5G network from January 2024. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. It has said a single network would reduce costs, improve efficiency and accelerate the building of infrastructure. It was not clear how the proposal for a second 5G network would affect DNB's existing agreements with its development partner, Swedish telecoms giant Ericsson (ERICb.ST), and other mobile operators.

KUALA LUMPUR/SINGAPORE, April 16 (Reuters) - Malaysia plans to introduce a second 5G network from next year, four sources told Reuters, in the latest policy shake-up aimed at dismantling monopolies and promoting competition by Prime Minister Anwar Ibrahim's six-month-old administration. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. Fahmi also said last week 5G network coverage had reached 55% in populated areas. It was not clear how the proposal for a second 5G network would affect DNB's existing agreements with its development partner Swedish telecoms giant Ericsson (ERICb.ST), and other mobile operators. U Mobile later joined other telco firms in signing up to access DNB's 5G network.

☆ Jailed Malaysian ex-PM Najib loses final bid to review graft conviction
▼ + stars: | 2023-03-31 | by ( Rozanna Latiff | ) www.reuters.com time to read: +2 min

KUALA LUMPUR, March 31 (Reuters) - Malaysia's top court on Friday dismissed a bid by jailed former prime minister Najib Razak to review his corruption conviction over the multi-billion dollar scandal at state fund 1MDB, ending Najib's judicial efforts to challenge the guilty verdict. Najib was jailed last year after Malaysia's Federal Court upheld a guilty verdict and 12-year prison sentence handed down to him by a lower court. Federal Court Judge Vernon Ong said a five-member panel voted 4-1 to dismiss Najib's application to review the conviction. Najib faces three other trials related to graft at 1MDB and other government agencies. Reporting by Rozanna Latiff; Writing by A. Ananthalakshmi; Editing by Ed Davies and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

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