Disney, Fox sued in US for US$1bil by Genting over Malaysia theme park
Walt Disney Co and Twenty-First Century Fox Inc were sued for more than US$1 billion on Monday by casino operator Genting Malaysia Bhd, which accused them of abandoning a contract related to its planned construction of the first Fox-branded theme park. Genting said “seller’s remorse” induced Fox, with Disney’s help, to breach its 2013 contract with Fox Entertainment Group to licence intellectual property for Fox World, a proposed addition to its Resorts World Genting complex. The lawsuit was filed in the U.S. District Court in Los Angeles as Disney prepares to complete its $71.3 billion purchase of many Fox assets. Genting said the problems began as Fox engineered years of delays to force a renegotiation of the contract, which did not give it a share of gate sales. According to the complaint, Disney is now “calling the shots,” and wants to end the contract because associating with a gaming company didn’t fit its “family-friendly” brand strategy. (The Star Online)
Malaysia is Airbnb’s fastest growing market in SEA
Malaysia is Airbnb’s fastest growing market in Southeast Asia, where the country welcomed over 2 million guests in the past 12 months as of July 1, 2018, marking a 99% growth year-on-year. There are now 44,000 listings in Malaysia on Airbnb, which is almost a 60% year-on-year increase. Airbnb has signed a memorandum of collaboration with the Malaysian Productivity Council and a memorandum of understanding with the Malaysia Digital Economy Corp to drive inclusive, sustainable development of tourism in Malaysia. It is working closely with the government and local industry stakeholders towards fair, progressive and innovative policies for short term accommodation. (The Sun Daily)
Selangor govt urged to review parcel rent rates for strata buildings
Bukit Gasing assemblyman Rajiv Rishyakaran has urged the Selangor state government to review parcel rent rates for strata buildings. The rent of parcel of provisional blocks is applied to all buildings in the state that have obtained strata titles. Parcel rent was implemented in June. Rajiv said the rate per square meter paid by parcel owners should be reasonable and not more than the quit rent paid by those living in bungalows. He said though he welcomed the implementation of parcel rent, the charges were the same as that of master titles. For some, the charges to be paid increased by three to five times more than previously paid. (The Star Online)
Deputy IGP: Temple clash not racial but land dispute
The scuffle at a Hindu temple in USJ25 on Monday (Nov 26) was not a racial clash, said the Deputy Inspector-General of Police. Tan Sri Noor Rashid Ibrahim said a preliminary investigation found that it is believed to be due to the acquisition of land in the area that was said to have been done “in an unpleasant manner” between the landowner and the Sri Maha Mariamman Temple. He said the incident was sparked off at about 2.30am after a group of about 50 men, believed to be Malays, intruded into the temple. Following the intrusion, about 200 Indian men rushed there and cordoned off the temple. Three men were injured and several cars were torched in the clash. The incident is said to have occurred following a misunderstanding between two groups over the issue of the relocation of the temple. (The Star Online)
Guan Eng: Refer to Bank Negara first before implementing cryptocurrency
All parties wishing to introduce cryptocurrency in Malaysia must go through Bank Negara Malaysia (BNM) first, said Lim Guan Eng. The Finance Minister said that the government and BNM must be careful with any introduction of cryptocurrencies as such new technologies are still being studied by the financial regulator to ensure the stability of the country’s financial sector. This was in response to a question on whether the government would setup a body to oversee cryptocurrency and prevent it from interfering with the normal functioning of Malaysia’s official currency. It was reported that the Harapan Coin is set to be the world’s first political fundraising platform using the two technologies. (NST Online)
