Malaysia to revise Budget 2016 to accommodate falling oil revenue
The government will announce a revision of Budget 2016 to accommodate falling revenue from lower oil prices and uncertainties in the global economy. Budget 2016 was tabled in October last year when oil was US$48 per barrel, and has now fallen to below US$33 per barrel. Prime Minister Datuk Seri Najib proposed a restructed and recalibrated budget for 2016 that is more in line with the economic situation, and also called for additional measures to be outlined. (The Edge Markets)

4 Pahang officials detained for bribery in bauxite mining
The Malaysian Anti-Corruption Commission (MACC) has detained four Pahang land and mines officers for alleged bribery concerning the bauxite mining industry in Kuantan. The estimated amount of RM100,000 in bribes was believed to be obtained through the sale of forms issued to lorry drivers transporting bauxite. The bribes were paid through the sale of the 13D form that was issued to miners by the Land and Mines Office. The form, which could be obtained at RM1 each, was sold to illegal miners at RM150 to R200 each. MACC officers also found stacks of 13D forms in the suspects’ cars. (The Malaysian Insider)

Ideal Sun City expands property investment to Kuala Lumpur
Penang-based Ideal Sun City Holdings Bhd, which diversified into property investment last year, is expanding its property investment base through the acquisition of 15 light industrial units in Anzen Business Park, Kuala Lumpur for RM6.155 million. The project management service firm said that the 15 properties in Taman Bukit Maluri had a 99-year leasehold ending in 2079, with average annual gross rental yield of about 5.9% based on the value of the properties. (The Star Online)

Johor to get RM500mil Japanese investment in 2016
Johor is set to obtain new investment inflow worth RM500 million from a Japanese multinational company that is interested to start operations based in Tanjung Langsat. Johor Mentri Besar Datuk Seri Mohamed Khaled Nordin said the company was interested to operate at the industrial area which focused on petrochemical and oleochemical-related activities. He noted that Johor Baru’s strategic location and cheaper business operation costs compared to Singapore were factors attracting foreign and domestic investors. (The Star Online)

New Sibu sports centre to be completed in March before Sukma
The Works Department has assured that the new indoor Integrated Sports Centre in Sibu will be completed before Sukma in July, and it will also ‘upgrade’ University College of Technology Sarawak (UCTS) an international university when it ‘inherits’ the first-class facilities. There was a slight delay in the RM39mil project, but it is expected to be completed by March, in order to prepare for the Sukma badminton and volleyball events which will be held in Sibu. It is currently about 87% completed. The fully air-conditioned sports centre will house eight badminton courts, a basketball court, two volleyball courts, a two-lane jogging track and a grand-stand with a seating capacity of 4,250 people. (The Borneo Post)

Family of 15 from Bau in need of housing assistance
A family from Kampung Bunga Rampai, Jalan Batu Kitang, Bau in Sarawak had applied twice for assistance from the State Welfare Department for Housing Project for the Hardcore Poor (PPRT), in 2012 and 2015 respectively, but did not receive any response. Rokiah Madani had applied for the program for her father’s house, which is reportedly in poor condition, and currently occupied by her brother and sister together with their families, totalling 15 people in the one-bedroom, one-bathroom house. (The Borneo Post)

MAB to sell Boeing 777-200 fleet
Malaysia Airlines Bhd (MAB) has announced its plans to sell its fleet of Boeing 777-200 aircraft following the cancellation of its Amsterdam and Paris routes later this month, and has offered its Boeing 777 pilots a mutual separation scheme, with 40% of them accepting it while others voluntary secondment to other airlines. (The Star Online)

A Malaysia Airlines Boeing 777-200 plane

A Malaysia Airlines Boeing 777-200 plane