Malaysia

KUALA LUMPUR: Malaysia signed a deal on Wednesday to pay a US seabed exploration firm up to $50 million if it finds the missing Malaysia Airlines aircraft MH370 in a new search area in the Southern Indian ocean. The disappearance of the aircraft en route from Kuala Lumpur to Beijing in March 2014 with 239 people aboard ranks among the world's greatest aviation mysteries.Australia, China and Malaysia ended a fruitless A$200-million (5 billion baht) search of an area of 120,000 sq km in January last year, despite investigators urging the search be extended to a 25,000-square-km area further to the north.Malaysian Transport Minister Liow Tiong Lai said a Houston-based private firm, Ocean Infinity, would search for MH370 in that 25,000-sq-km priority area on a "no-cure, no-fee" basis, meaning it will only get paid if it finds the plane.The search is expected to be completed within 90 days, he told a news conference."As we speak, the vessel, Seabed Constructor, is on her way to the search … [Read more...] about Malaysia signs $50m deal with US firm to find missing MH370

Malaysian authorities have directed Singapore-registered CopyCash Foundation to immediately cease and desist all its proposed activities including an Initial Coin Offering (ICO) originally planned for Jan 10.The directive covers all activities as described in or incidental to CopyCash Foundation’s white paper pursuant to the ICO, including any roadshows, seminars or promotional events related to the scheme, Securities Commission (SC) Malaysia said in a statement on Jan 9.On Jan 5, the SC had said it would be meeting with officials from the foundation to inquire into its activities, after the company said it would launching its CopyCashCoin in Malaysia.The SC said in its latest statement on Jan 9 that there was “reasonable likelihood that disclosures in CopyCash Foundation’s white paper and representations to potential investors will contravene relevant requirements under securities laws”. … [Read more...] about Malaysia orders Singapore-registered CopyCash to cease and desist all proposed activities, including ICO launch

The eighth Singapore-Malaysia leaders’ retreat will now take place from Jan 15 to 16, after it was unexpectedly postponed in December last year.Malaysian Prime Minister Najib Razak had asked for the meeting to be postponed, as it clashed with the Organisation of Islamic Cooperation (OIC) special meeting convened by Turkey’s President Recep Tayyip Erdogan in response to the US decision to recognise Jerusalem as the capital of Israel.PM Najib and PM Lee Hsien Loong will discuss the upcoming high-speed rail (HSR) and the Rapid Transit System (RTS) linking Woodlands and Johor Baru during their meeting.They will also sign an agreement on the RTS at the retreat, The Straits Times reported. … [Read more...] about Malaysia’s PM Najib to meet Singapore’s PM Lee at leaders’ retreat in Singapore on Jan 15

Malaysia’s opposition coalition on Sunday named 92-year old former premier Mahathir Mohamad as its prime ministerial candidate for a general election that must be called by August.With the country’s most popular opposition leader Anwar Ibrahim in jail, Mahathir is seen as the biggest threat for Prime Minister Najib Razak, who is engulfed in a corruption scandal.Mahathir, who earned a reputation during his 22-year tenure as prime minister of being a no-nonsense authoritarian with little time for dissenters promoting liberal values, stands to become the world’s oldest leader if the opposition wins.A victory could also potentially pave the way for former Mahathir foe Anwar to become the prime minister.Mahathir and Anwar’s wife Wan Azizah Wan Ismail will be the Pakatan Harapan coalition’s candidates for the premier and deputy prime ministerial posts respectively, secretary general Saifuddin Abdullah said at the alliance’s convention.If the opposition … [Read more...] about Malaysia’s opposition alliance names 92-year old Mahathir as PM candidate

KUALA LUMPUR: Malaysia's opposition coalition on Sunday named 92-year old former premier Mahathir Mohamad as its prime ministerial candidate for a general election that must be called by August. With the country's most popular opposition leader Anwar Ibrahim in jail, Mahathir is seen as the biggest threat for Prime Minister Najib Razak, who is engulfed in a corruption scandal.Mahathir, who earned a reputation during his 22-year tenure as prime minister of being a no-nonsense authoritarian with little time for dissenters promoting liberal values, stands to become the world's oldest leader if the opposition wins.A victory could also potentially pave the way for former Mahathir foe Anwar to become the prime minister.Mahathir and Anwar's wife Wan Azizah Wan Ismail will be the Pakatan Harapan coalition's candidates for the premier and deputy prime ministerial posts respectively, secretary general Saifuddin Abdullah said at the alliance's convention.If the opposition wins, the component … [Read more...] about Malaysia opposition names Mahathir, 92, as PM candidate