Proposed Fiscal Responsibility Act Will Send Strong Signal On Good Governance Of Public Finances
The proposed Fiscal Responsibility Act (FRA) will send a strong signal to the market and put in place a good governance framework for public finances, said Economy Minister Rafizi Ramli.
There is a need to regulate how the country would spend money through legislation, which is why the proposed FRA is expected to be tabled in the Parliament in the near future, he added.
Read the full story here
Property Transactions Value In 2022 Expected To Hit Record High
Malaysia’s total property transaction value in 2022 is likely to surpass the highest level ever recorded of RM161 billion back in 2014, driven by the recovery in demand.
Ahmad Zamzuri Kamarudin, a director on the Malaysian Institute of Estate Agents’ (MIEA) board of directors, said that as of the third quarter (3Q) of 2022, Malaysia’s total property transaction value stood near RM141 billion recorded in 2021.
Read the full story here
Yinson Production, AVEVA Sign MoU To Develop Sustainable, Autonomous FPSO Solutions
Yinson Production (YP), a top tier FPSO contractor, has entered into a Memorandum of Understanding (MOU) with AVEVA. The agreement builds on the companies’ existing relationship and aims to enable YP to develop fully autonomous and sustainable Floating Production Storage and Offloading (FPSO) solutions.
AVEVA’s software, in combination with YP’s FPSO expertise and extensive data sets will enable YP to operate its FPSO with minimal human involvement, and with a vision for them eventually to become fully autonomous. The key to developing fully autonomous FPSO solutions is through the adoption of the digital twin, a virtual model designed to accurately reflect the floating structure. Leveraging AVEVA’s solutions, YP will enhance its operational strategy and optimise efficiencies by utilizing analytics, machine learning (ML), and Artificial Intelligence (AI) to enrich the digital twin across the entire asset lifecycle.
Read the full story here
NTECC Allocates 630MW Additional Quota For RE Power Generation
The Natural Resources, Environment and Climate Change Ministry (NRECC) has allocated an additional 630-Megawatt (MW) quota for the development of power generation projects from renewable energy (RE) resources, said its minister Nik Nazmi Nik Ahmad.
He said the quota, which would be made available by this year, is an immediate measure to accelerate the deployment of RE and boost the growth of the RE industry in the country.
Read the full story here
Tengku Zafrul: Malaysia Gained RM264.6b Approved Investments Last Year
Malaysia approved investments totalling RM264.6 billion last year, some 14.5% lower than in 2021, International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz announced on March 8.
According to Tengku Zafrul, the 2022 numbers were lower mainly due to two chunky one-off investments from Intel Corp and Chinese solar energy firm Risen Energy Co Ltd committed in 2021.
Read the full story here
PM Anwar: People’s Income Initiative Powerful Platform To Correct Societal Imbalance
The effort of the Malaysian government today is to build new economic power without going back to the old ways, said Prime Minister Datuk Seri Anwar Ibrahim today (March 8).
In moving forward, transparency and strict adherence to financial procedures make up good governance which are expressed through the six pillars of Budget Madani and the governments present initiatives to build the core society.
Read the full story here
Malaysian 5G Rollout – Swift Way Forward Away From Single Wholesale Networks
No matter how much some may try to bend the truth, the data, science, and economics beneath it stand where they stand — there are no examples worldwide where the high expectations placed on nation-scale Single Wholesale Networks (SWN) would have come to fruition!
Perhaps, instead of finger-counting, DNB should transparently have presented a more solid quantitative cost-benefit evaluation such as, for example, the one in “Single Wholesale Network for 5G: Quantitative Assessment of Market Impact”.
Read the full story here
Malaysia’s Inflation For January Moderates To 3.7%
Malaysia’s inflation rate in January continues to moderate to 3.7% compared to the same month of the previous year, as announced by the Department of Statistics Malaysia.
Based on a month-to-month comparison, the increase in inflation for the month of January was 0.2%, the same proportion as recorded in the previous month. The increase in inflation for January 2023 is still driven by an increase in Food & Non-Alcoholic Beverages group, but it has moderated to 6.7%, compared to 6.8% in the previous month.
Read the full story here
