Bank Negara Awards Digital Bank License To 5 Succesful Applicants
After a month’s delay, Bank Negara Malaysia has finally announced the five successful applicants for the digital bank licenses as approved by the Minister of Finance Malaysia.
A. The following applicants are to be licensed under the Financial Services Act 2013 (FSA):
- a consortium of Boost Holdings Sdn. Bhd. and RHB Bank Berhad;
- a consortium led by GXS Bank Pte. Ltd. and Kuok Brothers Sdn. Bhd; and
- a consortium led by Sea Limited and YTL Digital Capital Sdn Bhd. To read the full story click here
SC Chairman Datuk Syed Zaid Albar Resigns, Minister of Finance Appoints Dato Dr. Awang
The Minister of Finance has accepted the resignation of Securities Commission Chairman Datuk Syed Zaid Syed Jaffar Albar who will be leaving SC on 31 May 2022.
Datuk Syed served as Executive Chairman of the SC from 1 November 2018 to 30 May 2022. In order to ensure a smooth and orderly transition and ensure continuity of SC administration, the Ministry of Finance has appointed Dato ’Dr. Awang Adek Hussin as the new Executive Chairman of the SC with effect for three years from 1 June 2022 to 31 May 2025. This appointment is in accordance with section 4 (2) of the Securities Commission Act 1993 [Act 498]. To Read the full story click here
Asia Pacific Energy Transition Plans Fraught With Difficulty: S&P Global Ratings
S&P Global Ratings said that Asia-Pacific’s energy transition will be an uphill journey that would be full of twists and turns–and that’s just the beginning. By global standards, the region faces considerable roadblocks as it moves to renewable and stable forms of energy.
It said that reliance on fossil fuel-based generation remains close to 70% and demand for power is growing, with significant investment needs. The stage may be set for action, but each country will reach the summit at its own pace. Getting there will require enabling policies and a reprieve from the high cost of technological solutions. To read the full story click here
Axiata Expects Celcom-Digi Merger to Be Completed In The Second Half of 2022
The proposed merger between Celcom Axiata Bhd and Digi.Com Bhd to form a new entity MergeCo is expected to be completed in the second half of 2022, said Axiata Group Bhd
In a stock exchange filing to Bursa Malaysia, Axiata said that the transaction will be subjected to the approval of both the company and Digi shareholders, as well as regulatory approvals and other terms and conditions. To read the full story click here
DoSM: 1Q2022 Economic Indicators Pointing to Positive Outlook for Malaysia
The economic indicators for the first quarter of 2022 stipulate Malaysia’s positive economic outlook in a near future with high mobility foreseen following the opening of international borders, the department of statistics Malaysia (DOSM) said.
“In addition the recent Employees Provident Fund (EPF) special withdrawal is expected to increase the demand for goods and services that will stimulate the economy,” Datuk Seri Dr Mohd Uzir Mahidin, the Chief Statistician said. To read the full story click here
Health Ministry: Wearing Of Masks for Outdoors Optional From May 1
The government has revised the rules of wearing mask which is no longer required when outdoors but are optional for those outdoors but it is still mandatory for those indoors and in public transport or taking e-hailing rides, Health Minister Khairy Jamaluddin,
In a press conference, he said that those who are unwell were advised to wear the masks regardless of whether there were outdoors or indoors. “Those who are indoors doing exercises, dining, performing, and speaking need not wear the face mask,” he said. To read the full story click here
Commodity Prices to Stay High Through 2024: World Bank
The World Bank says commodity prices that reached historically elevated levels because of the Russia-Ukraine war will remain high through the end of 2024.
Energy prices, food and fertilizer have sustained the largest commodity shock since the 1970s, according to the agency’s commodity markets outlook report released Tuesday. To read the full story click here
