PM: Saudi Arabia’s Interest A Sign Of Malaysia’s Political Stability
The Saudi Arabian business community’s interest to invest in Malaysia is a testament to the political stability in the country, says Datuk Seri Anwar Ibrahim.
This, the Prime Minister said, was expressed by the chairmen of both the National Chamber of Commerce and Jeddah Chamber of Commerce, whom he met during his official visit to the kingdom.
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Puspakom Monopoly Ends
The periodic inspection service of motor vehicles which is required under the Road Transport Act 1987 will be opened to qualified parties who meet the prescribed conditions after the current concession to ‘Pusat Pemeriksaan Kenderaan Berkomputer’ (PUSPAKOM) expires on 31 August 2024.
Transport Minister, Anthony Loke, said the matter was decided by the Council of Ministers on 17 March, which saw the end of PUSPAKOM’s monopoly as a provider of periodic motor vehicle inspections with effect from 1 September 2024.
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SunCon Awarded The JB Singapore RTS Link Project Worth RM604.8 Million
Sunway Construction has signed the Letter of Acceptance issued by Malaysia Rapid Transit System Sdn Bhd in respect of the proposed construction and completion of Package 1B Advance Works for Station and Viaducts and Package 5 Terrestrial Viaducts and Ancillary Structures for Project Rapid Transit System Link between Johor Bahru and Singapore (“RTS Link Project”).
The total contract sum for the RTS Link Project is RM604.8 million and is expected to be completed within a period of 26 months by the second quarter of 2025.
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GSMA Provides Alternatives For Malaysia’s 5G SWN Dilemma
The GSMA has published its insight report into the state of Malaysia’s 5G rollout, titled: Malaysia’s 5G SWN: what change could look like? In the report, the international mobile telecommunication body highlights 5G adoption rate in Malaysia was only standing at only 1% of consumers despite 47% percent 5G coverage in populated areas.
The coverage report was produced by Digital Nasional Berhad the sole entity appointed to roll out 5G in Malaysia, however, GSMA noted the country was already behind other neighbouring markets, such as Thailand, Indonesia, and the Philippines.
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IJN Unveils Groundbreaking Procedure For Leaky Heart Valves
Patients with severe tricuspid regurgitation (leaky heart valve) that have difficulty going for open-heart surgeries can now benefit from the newest non-invasive TriClip procedure by Institute Jantung Negara (IJN).
Note that IJN is the first hospital in Malaysia to successfully perform the TriClip procedure. The TriClip procedure works to repair the tricuspid valve by delivering a system of clips to the heart through the femoral vein in the leg. By clipping together a portion of the tricuspid valve, the device reduces the backflow of blood in the heart.
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Bursa Malaysia Commences Centralised Sustainability Programme
Following the announcement by YAB Prime Minister at Invest Malaysia Kuala Lumpur 2023, Bursa Malaysia today signed a Memorandum of Collaboration (MOC) with UMW Corporation Sdn Bhd (UMW) and Maybank to deploy a Centralised Sustainability Platform.
Working in collaboration with the London Stock Exchange Group (LSEG), Bursa Malaysia has developed and tested the Platform that will serve as a repository for listed companies’ ESG disclosures. The Platform will enable listed companies’ to reinforce their sustainability disclosures and accelerate swift adoption of their supply chain’s carbon emissions, which also includes non-listed entities. The Platform will also help banks develop green financing products and services, that will incentivise and encourage decarbonisation of the corporate sector and their supply chain.
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Possible Lifeline For Victims Of Online Scam
The government is studying several provisions in the law that could be used or amended to allow refunds to victims of online scams, the Senate was told today.
Deputy Minister in the Prime Minister’s Department (Law and Institutional Reform) Ramkarpal Singh said the laws being reviewed included the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 200, as well as the Penal Code and the Criminal Procedure Code.
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CMM Launches Inaugural Corporate Venture Capital Programme To Advance Local Ecosystem
Capital Markets Malaysia (CMM), an affiliate of the Securities Commission Malaysia (SC), today (March 21) launched the nation’s first Corporate Venture Capital (CVC) Programme to advance the domestic venture capital (VC) and private equity (PE) ecosystem by stimulating corporate investments by larger public listed companies (PLCs). Concurrently, this approach of spurring corporate interest and investments in start-ups or micro and small-to-medium enterprises (MSMEs) aims to build confidence in corporate venturing as a potential enabling or innovation strategy to catalyse growth.
CMM’s collaboration with the Malaysian Digital Economy Corporation (MDEC) for the inaugural programme reinforces the significance of technology and digitalisation in spurring economic transformation and progress.
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Credit Suisse, UBS deal: What you need to know
UBS agreed to buy rival bank Credit Suisse for 3 billion Swiss francs (US$3.23 billion) and assume up to US$5.4 billion in losses, in a shotgun merger engineered by Swiss authorities.
But banking stocks and bonds plummeted today as confidence in the sector remained fragile
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Malaysia Records 34 Month Trade Surplus, February Trade Up 11% To RM204.99 Billion
Malaysia’s trade performance registered double-digit year-on-year (y-o-y) growth, increasing by 11% to RM204.99 billion compared to February 2022. Exports grew by 9.8% to RM112.28 billion and imports expanded by 12.4% to RM92.71 billion. Trade surplus was recorded for 34 consecutive months since May 2020, valued at RM19.56 billion.
The country’s trade, exports and imports registered the highest monthly value for February.
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