malaysia

Citi favours Singapore over Malaysia in country exits.

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This morning, I was sitting in a coffee shop drinking lovely local coffee looking out at Citi 's large Malaysian head office in KualaLumpur . Then I looked at the news.

Citi is to leave Malaysia but maintain its offices in Singapore.

BIScom Subsection:

Management

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1,800 million cotton buds, 5,000 million plastic straws. This is in the UK. Every day. Until today. And it's not the only initiative coming into effect

Publication:

Little Blue-Green Planet

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UK's FCA warned of a specific fraud in 2017 - the fraudster is still active.

Sometimes, one has to shake one's head in wonder. on 23rd October 2017, the UK's Financial Conduct Authority issued a notice about what it calls a "cloned firm." It's not a firm, it's a company. It would be really helpful if regulators used language more precisely. Anyway, it was this "Century Finance/Century Finance Services Limited/ Century Finance UK Limited."

The idiot that's running the scam has just sent to me - me, of all people - his pitch.

BIScom Subsection:

Commercial finance

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Head in the Sand - Malaysian companies lose gamble over anti-corruption law

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One can understand the logic - the Malaysian government has a tendency to make its laws out of the public eye, then to announce an in-force date and then, when everyone moans they aren't ready, to postpone it. Getting a postponement works for e.g. so-called "e-hailing" drivers. The public likes them and so a few hashtags go a long way. But there is little public sympathy for companies and even less when there is a suggestion that the new law is designed to reduce corruption.

CoNet Section:

Bribery, Corruption and Plunder

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Malaysia's CoVid-19 lockdown.

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If it were not for one grossly irresponsible group, Malaysia's anti-viral policies would have been remarkably successful. But the long term effects might be problematic.

CoNet Section:

Health and Safety

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ScandaSky - Malaysian authorities ban "airline."

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The Malaysian Aviation Commission (MAVCOM) announced this afternoon that new entrant into the flights market, ScandaSky, must cease marketing its services and stop marketing itself as an airline.

CoNet Section:

Aviation

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ScandaSky - Malaysian authorities ban "airline."

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The Malaysian Aviation Commission (MAVCOM) announced this afternoon that new entrant into the flights market, ScandaSky, must cease marketing its services and stop marketing itself as an airline.

CoNet Section:

Aviation

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Utasan Malaysia in possible reprieve

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Yesterday, we reported that the Board of Malay language newspaper, Utasan Malaysia, had announced its closure with effect from today. This morning, it is reported that they have changed their mind while politicians continue to try to score points off each other over the issue.

CoNet Section:

Media & Publishing

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Malaysia's oldest Malay language newspaper to close tomorrow.

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The style has long been that of an outdated tabloid that can't decide if it's a scandal rag or a teenage magazine. It wasn't either: Utasan Malaysia was an integral part of the publication of news in Malay and has been for more than half a century. But, as with so many publications, it has simply run out of money and cannot continue.

CoNet Section:

Media & Publishing

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Conversazioni Fittizie: Malaysian leaders discuss SanFran's ban on facial recognition by government

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Peter Lee

Wed, 15/05/2019 - 06:30

Publication:

conversazioni-fittizie.com

It's not fake news. it's false conversations and it's satire.

As California's San Francisco's Board of Supervisors passes a law to ban the use of facial recognition by law enforcement and other agencies operating within the city. The news reached an incredulous Malaysian Transport Minister who is in the process of implementing a low-tech solution - blacked out car windows which will defeat visual surveillance methods.

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UNESCO should dismiss Singapore's application to recognise "street food culture."

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What is street food? If Singapore has its way, it's something that characterises the City state and marks it out as as something different. Malaysia is outraged - but other countries should be up in arms, too.

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Bizarre anti-corruption case

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The facts of the case are just odd. The recipient of a bribe has been jailed and ordered to pay a fine of five times the amount of the bribe. But it's what the bribe was for that beggars belief

FCRO Subsection:

Bribery and Corruption

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Malaysia plays nice with Goldman Sachs but it doesn't have to.

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Malaysia is being ever so nice to US headquartered bank Goldman Sachs which, through its Singapore Office, it is now known from the evidence given by one of its former staff, Tim Leissner, to have assisted in the theft and laundering of part of the now infamous 1MDB fund.

The bank, which is now seeking to take on new staff in the relevant department in Singapore, has been asked to give back the estimated USD600 million in fees it took for its assistance. Iit's at least arguable that Malaysia doesn't have to ask nicely: it could just take the money. GS doesn't want to pay out in every direction: it's already accepted the probability of "significant fines" in the US as a result of an investigation there.

Here's a step-by-step guide to getting the money back without the bank's co-operation.

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Estate battle raises questions over source of funds.

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It's a story that isn't gripping Malaysia: in 2015, a helicopter crash resulted in the deaths of several prominent members of the government of then Prime Minister Najib that Najib's office said was carrying guests from a wedding reception for Najib's daughter. Now, in an action before the Shariah High Court in Kuala Lumpur, there's a dispute over the very substantial estate of one of the politicians. So far, in a country obsessed with 1MBD, no one is asking loudly how such wealth was accumulated by one man in a life in public service.

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Malaysia's Anti-Fake News Act 2018 repealed

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In the dying days of the parliament dominated by Malaysia's now disgraced prime minister Najib Razak and those close to him the government passed its Anti-Fake News Act 2018. Its stated aims were sensible but in a country where the government had regularly arrested and held without trial those who expressed opinions contrary to those of or critical of the government and the ruling United Malay National Organisation (UMNO), its true purpose was widely regarded as a tool to further suppress legitimate dissent. Its repeal was an election promise that has been kept.

CoNet Section:

Media & Publishing

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