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  • AmBank eyes minimum 15 pct growth in loans to SMEs this year +

    KUALA LUMPUR: AmBank (M) Bhd aims to see a minimum of 15% growth in loans to small and medium enterprises (SMEs) for this year, said its group chief executive officer Datuk Sulaiman Mohd Tahir. He said the target would be driven by retail, corporate and SME asset financing as well as an increase in infrastructure loan demand amid progressive Malaysian economic background. “Overall, last year’s growth was slow. It was not in double figures; after some (corporate) restructuring in October 2016, there was a monthly growth of 1%-2%,” he said. Sulaiman said this to reporters after the signing of SME Read More
  • Maybank partners Alipay to provide contactless payments convenience +

    MAYBANK has entered into a strategic partnership with Ant Financial Services Group (Ant Financial) of China to provide Alipay users travelling in Malaysia with contactless payment service which can be used in various outlets ranging from high-end department stores, duty free outlets to hotels popular with Chinese visitors. This tie-up will provide a payment service that is swift, seamless and secure. Operated by Ant Financial, Alipay is a mobile payment platform and lifestyle app with 450 million users in China and beyond. The strategic partnership was formalised at an event witnessed by the Prime Minster of Malaysia, Najib Razak and Read More
  • ACCCIM (Associated Chinese Chamber of Commerce & Industry) upbeat about 2017 economic outlook +

    KUALA LUMPUR— The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) is upbeat about the country’s economic prospects for 2017, supported by increases in sales and production compared with last year’s figures. “Exports are starting to pick up marginally since last year and ACCCIM members believe there will be investments in the first half of 2017,” said Peck Boon Soon, member of Economic Survey Unit of Commerce Committee. He said this at a media briefing on ACCCIM’s survey on the economic situation of Malaysia for the second half of 2016. Peck said according to the survey results, 72 Read More
  • Envoy: M'sia businesses to benefit from EU-FTA +

    KUALA LUMPUR: Malaysian businesses will benefit from the Malaysia-European Union (EU) Free Trade Agreement (FTA) which is expected to be finalised by year-end, says Spain's Ambassador to Malaysia, Carlos Dominguez. Currently, only a handful of Malaysian firms have businesses in Spain, he said. "The companies are involved in sectors such as ceramics, construction and petrochemicals," he told reporters on the sidelines of the forum themed, 'How to Expand Your Small- and Medium-sized Enterprise Business to Europe' here today. Second International Trade and Industries Minister, Datuk Seri Ong Ka Chuan, had said recently the FTA negotiations were expected to be finalised Read More
  • Najib: 2017 GDP to be slightly higher than 4.2% +

    KUALA LUMPUR: Malaysia expects to record a slightly higher Gross Domestic Product (GDP) growth this year from the 4.2% achieved last year, Prime Minister Najib Razak said today. He also expects growth to rise in 2018. The government had earlier forecast that the economy would grow between 4% and 5% in 2017. These figures showed that the Malaysian economy was growing more than double the rates the International Monetary Fund had predicted for advanced economies over the same time period, Najib said in a keynote address at the Global Transformation Forum here today. Najib reiterated that Malaysia was firmly on Read More
  • Alibaba set to transform KLIA Aeropolis into eFulfillment hub +

    KUALA LUMPUR -- China's Alibaba Group is set to transform up to 45 hectares at KLIA Aeropolis into an eFulfillment hub, an e-commerce and logistics hub to facilitate faster clearance of imports and exports. Prime Minister Datuk Seri Najib Tun Razak said the establishment of the hub, which was in line with Malaysia's roadmap for transformation into a digital economy, would be the first in the world outside China. "Hangzhou is the hub for China and Aeropolis is for Malaysia and Association of South-East Asian Nations. We will make this (hub) exciting and big," he said at the launch of the Read More
  • Local prowees in science and technology must be appreciated +

    SINTOK -- There must be appreciation and confidence in the ability of Malaysians in science and technology to enable the country to continue spurring successes in both fields. Science, Technology and Innovation (Mosti) Minister Datuk Seri Panglima Wilfred Madius Tangau said some quarters still doubted the prowess of Malaysians in creating products which were recognised as high technologies. "The time has come for a change of this attitude. We (local-born) actually have many skills in numerous technological fields but most are still not appreciated. "For example, the seismic rubber bearings which are widely used in Malaysia and, in fact, several other Read More
  • Jack Ma: Malaysia efficient, Business-Friendly nation +

    KUALA LUMPUR: Alibaba Group founder and executive chairman Jack Ma has described Malaysia as an efficient and very business-friendly nation to establish digital economy collaborations. “Many asked me why I chose Malaysia to work together on the digital free trade zone (DFTZ). “I told them that Malaysia is very business-friendly and much more efficient than I thought,” he said in his opening speech before jointly launching the DFTZ with Prime Minister Najib Razak here today. Ma said the Multimedia Super Corridor project inspired him to pursue the digital world idea and made Alibaba and Malaysia establish the e-hub near Kuala Read More
  • M'sian companies in Asean and newcomers advised to contact Matrade for assistance +

    Malaysian companies currently operating in Indonesia, as well as newcomers wanting to set up operations in the country, are advised to contact the Malaysia External Trade Development Corporation (Matrade) for assistance. Matrade Trade Commissioner in Jakarta, Naim Abdul Rahman said the office here would assist and facilitate the Malaysian companies to tap the huge Indonesian market. “Getting advice from Matrade and utilising the existing network of Malaysian diaspora in the country is very important,” he said when met at a session with the Indonesia Investment Coordinating Board (BKPM) in Jakarta.   Source: BERNAMA Read More
  • Rise in residential loan indicators a good sign +

    Improvements are seen in residential loan indicators for January 2017, whereby residential loans applied and approved data came in at 3.4 and 12.5 per cent year on year (y-o-y) respectively despite loans-to-deposit ratios (LDR) remaining at a record high at 89.8 per cent. For residential loans applied, this marks the third consecutive month of positive year to date y-o-y movements while for residential loans approved data, this is the first positive month of growth in two years, which is very encouraging. The team with Kenanga Investment Bank Bhd believe this could be largely driven by higher supply of affordable homes Read More
  • Lazada M'sia overtakes Lazada Singapore as fastest-growing e-commerce platform +

    KUALA LUMPUR: Lazada Malaysia has overtaken Lazada Singapore to become the fastest-growing e-commerce platform for the past nine months in Southeast Asia. Lazada Malaysia Chief Executive Officer, Hans-Peter Ressel, said Lazada Malaysia recorded over 100 per cent growth in sales for 2016. "With the logistics facilities such as roads and trains, flights, as well as the existence of local and foreign courier companies, this shows that Malaysia's e-commerce market is well-developed," he told reporters after launching Lazada Malaysia's Fifth Birthday Campaign here today.     SOURCE-- BERNAMA Read More
  • M'sia ranks second in ASEAN for IP (Intellectual Property) protection +

    KUALA LUMPUR: Malaysia ranks second in Asean and 19th in the world in terms of intellectual property (IP) protection for countries assessed in the latest US Chamber International IP Index. The index measures the level of IP protection in a country based on 35 indicators and benchmarks the IP standards in 45 global economies which cover roughly 90% of global gross domestic product. Among Asean countries covered in the index - which in its fifth edition released last month - Malaysia ranked only behind Singapore, and ahead of Brunei, Indonesia, Philippines, Thailand and Vietnam. “Malaysia has always been committed to improving the Read More
  • Malaysia ranked fourth happiest country in Asia +

    KUALA LUMPUR: Malaysia is now the fourth happiest country in Asia, according to this year’s World Happiness Report. The latest raking also put Malaysia as the 42nd happiest country among 155 nations, five places up from last year’s report. Other neighbouring countries which saw a more cheery placing included Thailand (32 from 33), Taiwan (33 from 42 ), Vietnam (94 from 96) and the Philippines (72 from 82). Singaporeans appeared to be a less delighted lot in the past year, falling from 22nd place to 26th. The top 10 happiest places remained somewhat the same. Norway, the Land of the Midnight Read More
  • Najib to launch Digital Free-Trade Zone on Wednesday +

    KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak will launch the first Digital Free-Trade Zone on Wednesday. Deputy minister of International Trade and Industry (Miti) Datuk Ahmad Maslan told Parliament today, the event will also see the presence of Alibaba founder, Jack Ma. He said this when replying to a question from Datuk Seri Dr Mohd Leo Michael Toyad Abdullah (BN-Mukah)on the strategic framework being undertaken by Miti to ride the Industry 4.0 wave, as it could enhance the country’s income to RM2 trillion in the next seven to eight years. The Digital Free-Trade Zone, a brainchild of Najib, Read More
  • MDEC: Malaysia good test bed for fintech solution +

    KUALA LUMPUR: Malaysia is an interesting test bed for financial technology (FinTech) solutions as it has a lot of emerging markets, said Malaysia Digital Economy Corporation (MDEC) chief executive officer, Datuk Yasmin Mahmood. However, she said the country still needs a lot more startup companies, not only having ideas, but also the discipline to run the business, including managing the financial position and ensuring returns to investors. “There is still a long way to go. But, I think the realisation is there.We are seeing Malaysian startups already expanding their presence outside the country, while selling their solutions and then coming Read More
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