Malaysia Airlines gets another RM300m boost
Khazanah Nasional Bhd has pumped another RM300 million into the country’s flag carrier Malaysia Airlines Bhd, via its holding company Malaysia Aviation Group Bhd (MAG), taking the total amount of capital injected so far this year to RM800 million. In March the sovereign wealth fund pumped RM500 million into MAG, which also has FlyFirefly Sdn Bhd, MASwings Sdn Bhd and MAB Kargo Sdn Bhd under its wings. A Khazanah spokesperson said that the RM800 million capital injection into MAG is part of the earlier RM6 billion funding approved under the 12-point MAS Recovery Plan (MRP) announced in 2014. Under the MRP, Malaysia Airlines was to have broken even in 2018, achieve profitability and be listed in 2019. However, it missed the target amid a challenging operating environment. It was previously reported that Malaysia Airlines had attracted four suitors. (The Edge)

Zuraida: Ministry will work with Pahang govt on Lynas’ permanent disposal facility
Housing and Local Government Minister Zuraida Kamaruddin said today that her ministry would work with the Pahang government to find a suitable site for rare earths processing company Lynas Malaysia Sdn Bhd’s (Lynas) Permanent Disposal Facility (PDF) for its Water Leach Purification (WLP) residue. The government has renewed Lynas’s licence for another six months, but with three conditions. (Malay Mail)

Malaysia’s economy to be driven by ongoing mega projects in 2H 2019
Malaysia’s economic growth for the second half of this year is set to be healthy and driven by the ongoing mega projects, despite the current global economic uncertainties, says Maybank Kim Eng Group economist, Lee Ju Ye. Among the mega projects are the East Coast Rail Link (ECRL) which has been revived and the Klang Valley MRT 2 as well the LRT 3 project that would become the factors underpinning growth over the long term. She said the interest shown by international firms in relocating their operations to Malaysia would result in positive export numbers for the country going forward, contributed by manufactured products. Lee said, therefore, the scenario is that Malaysia has outperformed most of the other ASEAN countries which recorded a slowdown in 2Q19. (NST Online)

(Source: The Edge)

MCA revises redevelopment plan on HQ land again
The Malaysian Chinese Association (MCA) is believed to have resubmitted a fresh plan on the redevelopment of its headquarters on Jalan Ampang, which is less than 1km away from the Petronas Twin Towers. The political party will still tear down the existing 23-storey structure and build a 29-storey building, according to the latest plan. The new plan includes retail space, a hawker centre, a museum, a multi-purpose hall, an exhibition centre, an auditorium and 13 floors of hotel offering 164 rooms. Wisma MCA sits on a freehold plot measuring 53,335 sq ft and was registered in the name of MCA in 1983. The removal of the office component which was present in its previous plans is perceived as a wise move as the city centre is experiencing an oversupply of office space. (The Edge)

Penang smart parking app ready for use
The Penang Smart Parking System (PSP) app can now be downloaded from the Apple App Store and Google Play. Penang Chief Minister Chow Kon Yeow said following the launch of the PSP, the first 10,000 users will be entitled to RM5 worth of free credits. “This is to encourage the public to utilise e-wallet technologies such as Boost, Touch ‘n Go and Grab Pay as we are heading towards a smart state,” he said. Earlier, it was reported that the installation of the PSP system, which manages and operates all 36,000 smart parking spaces, would be completed by August 2020. The system directs drivers to a vacant parking lot in real time and if parking in the area is full, the system will suggest the nearest alternatives in that area. (The Star Online)