Malaysia Update: Malaysia’s First Cyber Court

October 6: Annual Gala Dinner 

Malaysia’s First Cyber Court

Malaysia’s first cyber security court began operations on September 1 in Kuala Lumpur. The court, similar to Malaysia’s Intellectual Property courts, will specialize in cyber-criminal cases which includes bank fraud, hacking, falsifying documents, defamation, spying, online gambling, and cases related to pornography. The Malaysian government authorized the court’s creation in order to address the increase in criminal and civil cyber offences. 27 judges were sent for training in the fields of cyber and computer forensics to prepare to preside over cases before the cyber court. The training was conducted by the Judicial and Legal Training Institute, in conjunction with the Communication and Multimedia Ministry. Currently there are 93 civil and 10 criminal cases pertaining to cyber offenses pending in Kuala Lumpur. While the court is restricted to hearing only criminal cases, there are plans to expand the court to include civil cases as well. There are also plans to set up additional cyber courts in Malaysia’s other states at a later time. 

Malaysia’s Infrastructure Spending Continues to Grow

According to the latest budget released by Malaysia’s government, Malaysia’s current spending plans for infrastructure development amounted to US$67 billion and $109 billion is the projected requirement for 2030. One area of continued growth is the development of railways. Over the past five years, Malaysia has spent over RM30 billion (US$ 7 billion) on rail infrastructure development and will continue to spend an additional RM40 billion (US$ 9 billion) in order to increase its interconnectedness. The substantial amount of funds being devoted to rail has made it a thriving sector in Malaysia’s otherwise inactive economy. Awards for the RM 9 billion light rail transit (LRT) 3 project will start in the latter half of this year. There are already 96 companies shortlisted and pre-qualified to bid.  A new RM9bil LRT Line 3 project from Bandar Utama to Johan Setia, Klang just kicked off this past June. Also, the MRT Sungai Buloh-Serdang-Putrajaya (SSP) Line that could carry a price tag more than RM32bil kicked off this August. Most recently, the high speed rail plan between Kuala Lumpur and Singapore has been finalized with a bilateral agreement between the two countries. Additionally, Thailand and Malaysia announced on September 9 that they have agreed to start an initial study on the possibility of introducing a high speed rail system between Kuala Lumpur and Bangkok. There is no official figure on the cost of the HSR, but it is estimated at RM45 billion. These rail developments are a critical to the construction sector in Malaysia. As a result of a slowing economy, the construction industry has been hungry for new projects.

PwC survey shows KL behind on social security, urban sustainability The Malay Online 7th Sep 2016
While ranking in the world top 10 on affordability and business opportunities, Malaysia's capital could improve on health, safety and security issues as well as the ability to deal with natural disasters to be on par with Singapore and Hong Kong. PricewaterhouseCoopers’ Cities of Opportunity Index — a benchmarking study of 30 leading global cities — placed Kuala Lumpur in 25th spot out of 30 cities in two categories: "health, safety and security" as well as "sustainability and natural environment".

Shortage of talents hampers Malaysia’s ambition to become developed nation by 2020 The Malay Online 6th Sep 2016
Shortage of talents hampers Malaysia’s ambition to become developed nation by 2020, says Madius. Malaysia is facing a shortage of talents while gearing itself up to become a developed nation by 2020, says the science, technology and innovation minister. — File picIPOH, Sept 6 — Malaysia is facing a shortage of talents in areas related to Science, Technology, Engineering and Mathematics (STEM) while gearing itself up to become a developed nation by 2020.

Aiming to help Malaysia achieve RM640b bilateral trade with China The Star 4th Sep 2016
MCA aims to help the country achieve the bilateral trade target of US$160bil (RM640bil) with China soon by actively mobilising Malaysians to take advantage of business and trade opportunities under China’s ambitious Belt and Road regional economic initiative.

USD45m Qatar contract sends MAHB shares up Free Malaysia Today 29th Aug 2016
Malaysia Airports Holdings Berhad (MAHB) shares have reached RM6.30, up 2.4 per cent, following welcome news from Doha, Qatar.

BR1M effective in helping the poor, says Najib The Star 29th Aug 2016
Malaysia’s approach in dealing with social issues like aiding the poor is getting international attention, Datuk Seri Najib Tun Razak said.

Economy set to be on stable footing NST Online 3rd Sep 2016
AFTER five consecutive quarters of below-trend GDP gross domestic product (GDP) growth, the Malaysian economy is likely to be on a stable footing.Think-tank Malaysian Institute of Economic Research (Mier) has projected business activities to likely to accelerate within the next three months while the price outlook will also stabilise.

China's SMEs told to use Malaysia as stepping stone into ASEAN NST Online 3rd Sep 2016
China’s small and medium enterprises (SMEs) have been urged to use Malaysia as a stepping stone to promoting their products in ASEAN.Deputy Minister of International Trade and Industry (Miti) Datuk Chua Tee Yong said with China now the world’s second largest economy, diplomatic ties between both countries has also grown stronger.

Bursa Malaysia plans new market for SMEs NST Online 2nd Sep 2016
Bursa Malaysia Bhd today released a consultation paper on the proposed establishment of a new market for small and medium companies (SMEs) on the exchange.Chief executive officer Datuk Seri Tajuddin Atan said the new market hopes to facilitate greater access to capital market financing for SMEs to support their developmental and lifecycle needs.

Aerospace sector needs more providers of legal services NST Online 29th Aug 2016
As Malaysia aspires to become the aerospace hub in Southeast Asia by 2030, industry players see this as an opportunity for local small and medium enterprises as well as established foreign aerospace companies to grow in the sector.

Malaysia's July trade surplus at RM1.9b Business News 7th Sep 2016
Malaysia's exports in July contracted 5.3% to RM59.85 billion while imports were down 4.8% to RM57.94 billion, giving rise to a trade surplus of RM1.91 billion for the month. "Overall, trade was lower by 5.1% to RM117.79 billion," the International Trade and Industry Ministry said in a statement on Wednesday. Exports of manufactured goods declined 3.9% to RM48.75 billion, with electrical and electronics (E&E) products contracting by RM1.39 billion.

Johor to tighten control at 6 entry points to curb Zika spread Channel NewsAsia 7th Sep 2016
The Johor government is stepping up control at six entry points in the state as a precautionary measure to curb the spread of Zika virus into the country. State Health and Environment Committee chairman, Mr Ayub Rahmat said the six entry points were the Customs, Immigration and Quarantine (CIQ) Complex at Bangunan Sultan Iskandar, Sultan Abu Bakar CIQ Complex in Tanjung Kupang, Johor Port in Pasir Gudang, Tanjung Pelepas in Gelang Patah, Puteri Harbour Ferry Terminal in Iskandar Puteri and the Stulang Laut Ferry Terminal.

Asean businesses urged to push harder for single market NST Online 3rd Sep 2016
The private sector in Southeast Asia should push harder to achieve a single economic market in ASEAN, and that a lack of political will and public acceptance is hampering planned regional economic integration, CIMB Group Holdings chairman Datuk Seri Nazir Razak told Nikkei Asian Review in an interview.

Customs to audit GST-registered firms from Sept 1 The Star 29th Aug 2016
The Royal Malaysian Customs Department will launch the Customs Blue Ocean Strategy Operation (Ops CBOS) in phases from Sept 1 to audit companies registered for the goods and services Tax (GST).

Esscom on alert for militants The Star 5th Sep 2016
The Eastern Sabah Secu­rity Command (Esscom) is on the alert for Abu Sayyaf terrorists fleeing to the state following an all-out war declared against them by Philippines President Rodrigo Duterte.

Hishammuddin to meet Indonesian, Philippines counterparts over Sulu Sea maritime security NST Online 4th Sep 2016
Defence Minister Datuk Seri Hishammuddin Hussein will meet his counterparts from Indonesia and the Philippines next week to further discuss issues pertaining to maritime security in the Sulu Sea.

Thailand gives go-ahead to extradite 10 Thais over Malaysia's human-trafficking probe NST Online 29th Aug 2016
Thailand has approved Malaysia's application to extradite 10 Thai nationals believed to have mastermind human-trafficking activities across the Malaysia-Thai border.

China fueling a submarine arms race in the Asia-Pacific Chicago Tribune 29th Aug 2016
With China plowing money into its military machine and making aggressive claims to disputed island chains, Beijing's regional rivals are investing in the one weapon that can undercut the increasingly potent People's Liberation Army. Across South and East Asia, China's neighbors are spending heavily on submarines, purchasing silent diesel-electric machines capable of slipping past Chinese defenses.

M’sia gets invite to UN peacekeeping meeting The Starm 5th Sep 2016
The invitation to take part in the United Nations Peacekeeping Defence Ministerial meeting in London next week proves that the world recognises Malaysia’s efforts in maintaining peace, says Defence Minister Datuk Seri Hishammuddin Tun Hussein.

Malaysia extends bauxite mining ban until year-end Reuters 7th Sep 2016
Sept 7, Malaysia extended a moratorium on bauxite mining to the end of the year, from Sept. 14, and said the government could stretch the ban by another six months if the current high stockpiles of the aluminium-making commodity were not cleared by Dec. 31.

Banks' selling insurance assets seen related to new financial standard The Star 5th Sep 2016
The move to dispose of non-core assets to beef up capital for the upcoming new standard on loan impairments under MFRS 9 may explain why some banks are in a rush to sell their insurance businesses. Analysts told StarBiz that recent news reports of RHB Bank Bhd being in talks to sell its insurance business and Hong Leong Financial Group getting approval from Bank Negara to dispose of its equity interest in Hong Leong Assurance Bhd (HLA) and Hong Leong MSIG Takaful Bhd (HLMT) were seen to be related to the new standard coming on stream in 2018.

Malaysia's CIMB cuts key annual financial targets despite 36% profit growth- Nikkei Asian Review 29th Aug 2016
CIMB Group Holdings, despite a 36% on-year surge in second quarter net profit, Monday warned it may miss two of its annual financial targets as economic growth in its key Southeast Asian markets decelerates. The second-largest Malaysian bank by assets, has cut this year's loan growth forecast to between 6% and 7% from 10% while return-on-equity is now expected to come in at "around 9%" this year, a tad shy of the original 10% target, said CIMB Group's Chief Executive Zafrul Aziz. Return-on-equity was 8.1% while total loans expanded 6.6% at the end of June. "While we expect a better performance in the second half, our loan growth and ROE expectations will likely be below our original 2016 target," Zafrul told reporters at an earnings briefing. "However, all other targets like capital, cost and dividend payout remain on track." CIMB Group is aiming to raise the so-called common equity Tier 1 capital, a key measure of a bank's financial strength, to 11% this year from 10.3% as on 2015-end, while cutting its cost-to-income ratio to below 53% from 55.6% last year. The lender also plans to pay 40% of its profits as dividends this year.

Malaysia's anti-graft agency widens net in embezzlement case The Straits Times 29th Aug 2016
A retired army general, who is chairman of a government-linked bank, will be called up for questioning by the Malaysian Anti-Corruption Commission (MACC) in connection with an embezzlement case involving RM15 million (S$5 million).

The Guide to Corporate Establishment in Labuan, Malaysia ASEAN Business News 29th Aug 2016
Situated in the heart of Southeast Asia, and in close proximity to economic hubs such as Singapore, Hong Kong, Kuala Lumpur, and Jakarta, lies Labuan. Labuan is home to 96,800 people and offers a variety of benefits for businesses, including a gentle income tax regime, a well-regulated financial system, a deep water port, and highly developed supporting infrastructure. With improvements being made on a continual basis, Labuan could soon be giving other more established financial jurisdictions a run for their money.

ASEAN Audit Regulators To Work With World Bank To Strengthen Audit Oversight In The Region Exchange News Direct 29th Aug 2016
ASEAN audit regulators are in discussions with the World Bank on collaborative efforts to further raising the standard of audit quality in ASEAN. This was a key agenda item at the 6th Annual Meeting of the ASEAN Audit Regulators Group (AARG) which was held in Singapore on 26 Aug 2016. Hosted by ACRA, the meeting was attended by over 100 participants. This included regulators from eight ASEAN countries, Hong Kong and China, as well as the regional and global leadership of the Global Public Policy Committee (GPPC) audit firms1. The AARG members comprise Singapore’s ACRA, Malaysia’s Audit Oversight Board (AOB), Indonesia’s Finance Professions Supervisory Center (PPPK) and Thailand’s Securities and Exchange Commission (SEC).

Malaysia reports first case of pregnant woman with Zika virus the Guardian 7th Sep 2016
Malaysia has reported its first case of a pregnant woman with Zika, who lives in a state bordering Singapore where authorities have already recorded 275 cases. The 27-year-old woman in the southern state of Johor is the third person with Zika in Malaysia, where fears of a full-blown outbreak emanating from Singapore are mounting. Infected pregnant women can give birth to babies with microcephaly, a deformation marked by abnormally small brains and heads.

Malaysia's Health Ministry warns of more Zika cases The Straits Times 4th Sep 2016
New Zika cases will continue to emerge, Malaysia's Health Minister Datuk Seri Dr S. Subramaniam said on Sunday (Sept 4). "The confirmation of the second case of Zika in Kota Kinabalu suggests that the virus is already present within our communities. This patient has not been to any other country where large number of cases had been reported. This means that this person contacted the disease locally," Dr Subramaniam said on his Facebook page.

Malaysia may see 60,000 dengue cases AsiaOne Health 29th Aug 2016
Malaysia is looking at the likelihood of recording more than 60,000 dengue cases this year. Deputy Prime Minister Tan Sri Muhyiddin Yassin said the health authorities made the alarming projection yesterday based on last year's trend of dengue cases which saw a 98 per cent increase or 43,346 cases compared to 21,900 in 2012. "We cannot take the matter lightly. This is obviously a dangerous situation," he said after chairing the National Local Government Council meeting here yesterday. Also present were Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan and several menteris besar, including Terengganu Menteri Besar Datuk Seri Ahmad Said, Negri Sembilan Menteri Besar Datuk Seri Mohamad Hasan and Selangor Menteri Besar Tan Sri Khalid Ibrahim.

Bursa Malaysia, Fusionex ink data agreement the star 2nd Sep 2016
Bursa Malaysia Bhd and information technology software group Fusionex International have inked an agreement to provide services related to Enterprise Data Analytics (EDA) solutions.

TM and MRCB collaborating on ICT & IoT smart services NST Online 1st Sep 2016
Telekom Malaysia Bhd (TM) and Malaysian Resources Corp Bhd (MRCB) will be collaborating on the development of integrated telecommunications, ICT and Internet of Things (IoT)-enabled smart services at the latter's property development projects.

Malaysia's first cyber court begins operations today NST Online 1st Sep 2016
Malaysia activated its first special cyber court here today. The court, located in the Duta Courts complex, specialises in hearing cyber criminal cases.

MCMC explains spectrum fees NST Online 1st Sep 2016
The Malaysian Communications and Multimedia Commission (MCMC) issued a statement yesterday to explain the fees it is charging for telecommunication spectrums allocated to four companies.

MCMC reveals upfront spectrum fees for telcos The Edge Markets 31st Aug 2016
The Malaysian Communications and Multimedia Commission (MCMC) has finally announced the fee details of the long-awaited spectrum assignment for telecommunications companies. In a bourse filing today, DiGi.Com Bhd said its unit Digi Telecommunications Sdn Bhd has received a letter of offer dated Aug 30, 2016 from the MCMC, in respect of the allocation of 2x5MHz of 900MHz and 2x20MHz of 1800MHz bands, effective July 1, 2017. "The acceptance deadline for this letter of offer is Nov 1, 2016," it said. According to DiGi.Com, the spectrum fee consists of two components, namely the price component totalling RM598.55 million, and an annual fee component of RM51.48 million. Meanwhile, Axiata Bhd said its wholly-owned subsidiary, Celcom Axiata Bhd, has received the letter of offer from MCMC for the allocation of 2x10MHz of the 900MHz bands, and 2x20MHz of the 1800MHz bands, effective July 1, 2017. Similarly, Axiata’s spectrum fee comprises two components: the price of the spectrum which is RM816.75 million, and the annual fee component of RM70.25 million.

RM30bil boost for gateway The Star 2nd Sep 2016
The ambitious Malacca Gateway Project – which will be the largest private marina in South-East Asia upon its completion by 2025 – has received a RM30bil boost following the construction of three islands.