Companies in Malaysia now have a new tool to streamline their reporting obligations, as the Companies Commission of Malaysia (SSM) launched the Electronic Beneficial Ownership System (e-BOS). This system aims to facilitate the submission and storage of information regarding company beneficial ownership.
Aligned with regulatory requirements outlined in the ‘Guideline for the Reporting Framework for Beneficial Ownership of Companies’, effective April 1, 2024, e-BOS enables companies to identify, obtain, record, update, and submit beneficial ownership information to the Registrar. Accessible through the link ssm4u.com.my, e-BOS provides a convenient platform for companies to fulfill their obligations seamlessly.
The launch of e-BOS also marks the abolition of the transition period introduced on March 1, 2020, under the ‘Guideline for the Reporting Framework for Beneficial Ownership of Legal Persons’. This move is in line with the enforcement of the Companies (Amendment) Act 2024 on April 1, 2024, signaling a new era of compliance and efficiency in corporate reporting.
Among the key services offered through e-BOS are notifications of beneficial ownership information or management, as well as rectification of beneficial ownership information or management. This comprehensive system aims to enhance transparency and accountability in corporate governance.
Prime Minister Datuk Seri Anwar Ibrahim stressed today that no casino license will be approved by the government in Forest City.
Anwar, who is also the Minister of Finance, informed the Bloomberg report that quoted sources about the consideration for the license as factually wrong.
“Do not have. They raised (regarding) the casino license… it’s a lie, it’s not true,” he answered briefly to the media after attending the Aidilfitri event jointly organised by the Ministry of Housing and Local Government (KPKT) and the Ministry of Communications in Putrajaya, today (Apr 25).
It was reported that Malaysia is negotiating with several tycoons to establish a casino in Forest City which was deemed as a US$100 billion (RM480 billion) project in Johor.
The business portal quoted sources as saying the Prime Minister met Berjaya Corp founder Tan Sri Vincent Tan and Tan Sri Lim Kok Thay of the Genting Group in a lunch meeting last week to discuss the matter.
Representatives of the Yang di-Pertuan Agong Sultan Ibrahim, as well as other senior government officials, were also said to be present at the meeting, according to the report. Sultan Ibrahim is one of the shareholders of the project.
According to the report, discussions about the casino project were still in the early stages.
Forest City in Iskandar Puteri, Johor was initially planned as an integrated residential development project. The construction of the project began in 2006, involving a consortium of Chinese real estate developers.
However, the project ran into problems in 2018 when then Prime Minister Tun Dr Mahathir Mohamad declared that foreigners would not be granted visas to live in Forest City.
In fact, the currency controls introduced by Chinese President Xi Jinping in 2019 drastically restricted potential customers and the Covid-19 pandemic attack dealt a heavy blow to the project. Today, the Forest City project, dubbed the “underwater city”, is like a ghost town.
But on August 25, Anwar announced Forest City as a special financial zone as a measure to attract foreign investment and further increase foreign investment in Johor.
He said that the special zone gives privileges to Johor which is a neighbour to Singapore in addition to having complete facilities in Forest City.
China’s tech giant subsidiary, Ray Tech (Malaysia) Sdn. Bhd has announced the grand opening of its state-of-the-art Smart Industrial X-Ray Inspection Specialist Plant in Johor. The cutting-edge facility is said to revolutionise the production and distribution of X-ray equipment, catering to the growing demand for advanced X Ray imaging in the various sectors and in the regions around the world.
During the opening, General Manager of Ray Tech Malaysia, Mr. Matthew Loh remarked, “This facility will not only bolster our production capabilities but also strengthen our presence in the regional and overseas markets, enabling us to better serve our customers.
The advent and portrayal of X-Ray goes further than the medical sector and is now extended to the Automotive, Electronics Semiconductor, Lithium Battery, Public Security, FOD (Foreign Object Detection) and NDT (Non-Destructive Test). Among its noted clientele are from the likes of Xiaomi, Tesla, BYD, Mercedes, BMW and Honda.
As remote work becomes increasingly normalised in today’s professional landscape, the importance of reliable audio equipment, particularly headsets, cannot be overstated. With virtual meetings and conference calls replacing traditional face-to-face interactions, a high-quality headset is essential for clear communication and enhanced productivity in remote work environments.
In this context, after spending a number of days with the Jabra Evolve2 55 we would like to conclude the headset emerges as a standout solution, offering a blend of comfort, functionality, and performance tailored to meet the demands of the modern workplace.
Comfort and Fit:
One of the standout features of the Evolve2 55 is its exceptional comfort and adaptability. With a lightweight design weighing just 130 grams, I enjoyed the extended wearing sessions without experiencing discomfort or uneasiness.
The on-ear system offers good adaptability, although individuals with smaller head shapes may find the fit slightly loose during rapid movements.
Furthermore as I navigated through tasks in my office, I found that the headset’s design effectively regulated temperature, preventing any excessive heat buildup around my ears. This feature made the Evolve2 55 an ideal choice for long workdays, especially during our current hot weather.
With Zoom calls and remote conference meetings a norm nowadays, having a reliable headset that offers crisp audio quality (you don’t want to miss any important remarks by your client or boss, so this headset will be able to go through those long, draggy sessions).
Variants and Connectivity:
For options, the Evolve2 55 is available in multiple configurations, including mono and stereo versions, catering to diverse user preferences. I notice that I can choose between USB-A or USB-C connections, with corresponding Bluetooth adapters and charging cables provided.
Additionally, variants certified for Microsoft Teams or universal communications platforms offer tailored experiences for different user environments.
The headset’s compatibility with Bluetooth standard 5.2 and Google Fast Pair facilitates quick and stable connections with various devices, ensuring seamless communication and media playback experiences.
Battery Life and Operation:
The most annoyig issue you could have with an audio headset is when it dies on you halfway through that important video call.
Luckily when we tested the Evolve2 55 by playing music continuously for an extended period to see how long the battery would last, we are glad to announce after ten hours, the battery level remained impressively high. Even after reaching the 10-hour mark, the Evolve2 55 showed no signs of slowing down.
Additionally, its quick-charging capabilities restore over half of the battery capacity in just 30 minutes, enhancing flexibility and minimising downtime. The intuitive operation, facilitated by a 3-button remote and microphone arm, allows users to control playback, volume, and call management effortlessly. The inclusion of features like voice assistants activation and ANC mode switching further enhances usability and convenience.
Software Integration:
Integration with Jabra Direct Software and Jabra Sound+ App offers users extensive telephony and sound settings customisation options. From configuring microphone settings to adjusting EQ profiles, users can tailor their audio experience to suit individual preferences.
The implementation of features like MySound hearing profile generation and firmware updates ensures continuous optimisation and enhancement of the headset’s performance.
Microphone and Noise Cancellation:
I want to highlight the clarity of audio of this headset as I joined a virtual meeting via Google Meet.
Despite the background noise in my environment, the microphone technology of the Evolve2 55 excelled in isolating my speech and suppressing distractions.
As I began speaking, I noticed that my voice came through with remarkable clarity and natural. Friends on the call mentioned that my voice sounded clear and distinct, with no hint of distortion or muffled. Even as I spoke at varying volumes, the microphone captured every word with precision.
We also noticed that while wind noise transmission may pose a slight impairment, ambient noise suppression ensures a focused communication environment. However, the ANC mode exhibits minor background noise, particularly in the upper-frequency range, which may fall short of higher expectations.
Sound Quality:
Equipped with AAC format support, the headset delivers a harmonious, down-to-earth sound profile characterised by powerful bass playback and clear midrange frequencies.
Excellent speech intelligibility and smooth reproduction make it suitable for various media playback activities, including music, movies, and spoken content.
While I noticed a slight drop in the upper registers, the EQ adjustments and MySound profiles offer opportunities for personalised optimisation and enhanced listening experiences.
Conclusion:
In conclusion, the Jabra Evolve2 55 offers a perfect blend of comfort, functionality, and performance. From its comfortable fit and versatile connectivity options to its intuitive operation and customisable sound settings, the Evolve2 55 caters to the diverse needs of professionals, or just about anyone seeking for a premium audio solution.
While minor shortcomings exist in noise cancellation and sound reproduction, the overall performance and feature set make it a compelling choice for individuals seeking unparalleled audio experiences in their daily endeavors.
AFFIN Group held its 48th Annual General Meeting where shareholders passed all 11 resolutions after the group registered a Profit Before Tax of RM518.3 million for the financial year ended
During the period, the Group’s CASA (Current Account/Savings Account) rose to RM18.9 billion in FY2023 compared to three years ago in 2020 at RM11.2 billion, with the CASA ratio stood at 26.7% surpassing the target of 25% marking the highest CASA Ratio ever for the Group.
The Group’s total assets grew to RM105 billion in FY2023 from RM70 billion in FY2020 with a year- on-year growth of 12.3% driven by significant loan growth. AFFIN Group also declared a final dividend of 5.76 sen, which represents a total of a total dividend payout of approximately RM135.3 million or 33.6% of the Group’s net profit for FY2023.
President & Group Chief Executive Officer of Affin Bank Berhad, Datuk Wan Razly Abdullah said “We have navigated a challenging year with a clear focus on our long-term objectives and remain steadfast to focus on sustainable growth strategies that prioritise long-term value creation for our shareholders and customers alike.’ To future-proof ourselves, we need to strengthen our core capabilities, innovate in key strategic areas, and invest in growth opportunities, while being nimble enough to respond to any unexpected changes in the external environment.
We are realigning our vision from the AFFIN 2025 Plan (A25) to the AFFIN Axelerate 2028 Plan (AX28), focusing on five critical pillars to navigate divergences in economic cycles and propel the Group towards a transformative leap forward, Expanding our commitment to customer excellence with a focus on Private Banking Business. Spearheading a digital revolution. Expanding our presence in Sarawak. Maximising capital efficient. Amplifying our ESG ambitions to weave sustainability into the fabric of our operations.
The banking group said it remained focused on providing profitable and sustainable growth and will grow to become a Modern and Progressive Bank.
OCBC in its report over the latest Consumer Price Index data released by the Department of Statistics said the headline CPI which remained unchanged at 1.8% YoY in March was slightly below expectations (February: 1.8%; Consensus: 2.0%).
DOSM report showed that food inflation eased to 1.7% YoY versus 1.9% in February, which offset increases in the utilities (3.0% YoY versus 2.7%), restaurant (3.0% versus 2.9% in February) and transportation (1.3% versus 1.2% in February) components. Core inflation eased further to 1.7% YoY in March versus 1.8% in February.
Headline inflation averaged 1.7% YoY in 1Q24, below OCBC’s baseline, suggesting that inflationary pressures remain benign. The main risk to inflation in the coming months will be the timing and mechanism of the government’s fuel subsidy rationalisation policies. OCBC noted that, Economy Minister, Rafizi Ramli had said that the government will make an announcement in the coming weeks.
The bank said it will assess the implications of the government’s impending announcement and for now maintains its 2024 average CPI inflation forecast of 2.5%. In terms of monetary policy implications, the house maintains its forecast for BNM to keep its policy rate unchanged at 3.00% for the rest of this year.
Opinions on durians, whether described as sticky-sweet or compared to the odor of socks, vary widely, yet the demand for durians is rapidly increasing, particularly in China.
After placing orders online for durians, Huang Rongsheng, a resident of south China’s Guangxi Zhuang Autonomous Region, received doorstep delivery within about one hour. This was Huang’s third online order for durian this year.
“Thai durians, known for their rich flavor and dense texture, are particularly popular among Chinese consumers,” he said.
Thailand, the leading exporter of fresh durians to China, has seen sustained growth in demand for its produce. At a newly established display stand in a market around 5 km from Huang’s home, imported Thai durians, including varieties like Golden Pillow and Musang King, are drawing crowds of consumers.
“Despite limited quantities and high prices, consumer enthusiasm remains unabated,” said a fruit vendor at the supermarket.
China’s appetite for the pricy tropical fruit is enormous. According to an HSBC report from last year, the Chinese market accounted for 91 percent of the global demand for durian in the past two years.
Buoyed by the overwhelming demand, retailers are optimistic about their sales projections for 2024.
“There’s a robust demand in the Chinese domestic market,” said Lai Pingsheng with a subsidiary of Charoen Pokphand Group, a leading agribusiness conglomerate in Thailand.
In 2024, the company plans to sell 324 tonnes of Thai durians in Guangxi through supermarkets and convenience stores.
China imported approximately 6.7 billion U.S. dollars worth of durians in 2023. Economists believe that the surge in durian demand presents opportunities for the rest of Southeast Asia, not just Thailand.
Remarkable year-end figures from 2023 revealed that Vietnamese durian exports to China hit 2.1 billion U.S. dollars, capturing 31 percent of a growing durian market in its northern neighbor, according to data released by China’s General Administration of Customs.
The soaring popularity of durians in China underscores the increasing purchasing power of consumers and their preference for this fruit, said Mo Jiaming, general manager of Guangxi-based fruit company Youxianyuan.
“I am confident of profitable business during the upcoming peak durian season in May,” Mo added
Chinese electric vehicle (EV) battery maker CATL on Thursday unveiled a lithium iron phosphate (LFP) battery with a driving range of more than 1,000 kilometres (621 miles) on a single charge.
The Shenxing Plus is the world’s first LFP battery boasting such a range, Chief Technology Officer Gao Huan of CATL’s e-car division said on the first media day of the Beijing auto show.
LFP batteries are environmentally friendlier than the lithium-ion batteries more commonly used in EVs.
Four car models use the current-generation Shenxing battery with its 700 km range, and over 50 more models will be equipped with it by year-end, Gao said.
The world’s largest EV battery maker, formally Contemporary Amperex Technology, saw profit swing to growth in January-March after three months earlier posting its first quarterly profit fall since 2022 amid slowing demand and intensified competition.
Chinese battery makers including CATL grew faster than rivals to account for more than two-thirds of global EV battery capacity last year, showed data from consultancy Counterpoint Research.
In March, CATL’s chairman said the manufacturer is in discussions to establish research and development centres in Hong Kong to underpin technology exports.
EPF Chief Executive Officer who just took over the position last month newly introduced Account 3, known as Akaun Fleksibel (Flexible Account), is optional for its 16.07 million members and has advised members to be not so enthusiastic.
The account if for short-term financial needs, where savings in this account can be withdrawn at any time according to members’ needs. Effective May 11, members under the age of 55 will have their accounts restructured into three accounts, namely Akaun Persaraan, Akaun Sejahtera and Akaun Fleksibel.
Balances in Account 1 and Account 2 will remain in Akaun Persaraan and Akaun Sejahtera, respectively, while Akaun Fleksibel will start with a zero balance.
Between May 11 and August 31 these members will have a one-time option to transfer part of their savings in their Akaun Sejahtera (previously Account 2) as an initial amount to Akaun Fleksibel.
The EPF said in a statement today that if the member does not choose to opt in, no transfer will be made, and the existing balance will remain in Akaun Sejahtera.
For all those who opt-in, allocation into the new accounts will be as follows: 75 per cent into Akaun Persaraan, 15 per cent into Akaun Sejahtera and 10 per cent into Akaun Fleksibel.
Previously, EPF members’ savings would be credited into Account 1 and Account 2, where 70 per cent of their contributions would go into Account 1, and 30 per cent into Account 2.
We encourage people not to do so (opt-in) because it is important to save for old age, but we understand that flexibility is desired and from time to time you need to access your savings to pay for unexpected expenses,” Ahmad Zulqarnain said during the editors briefing ahead of the announcement today.
The initiative is not just EPF’s response to current needs but also a proactive step to help members cope with the changing job landscape and demographics of the population.
He said if every EPF member decides to opt in, the total fund that would be moved to Account Fleksibel will amount to RM57 billion, of which about RM25 billion is expected to be withdrawn in the first year.
Ahmad Zulqarnain said the setting up of the new account will not impact the provident fund’s portfolio.
For comparison purposes, total withdrawals during the pandemic amounted to RM145 billion.
Minister of Economy, Rafizi Ramli, disclosed that the government is gearing up to unveil the mechanism and criteria for rationalising subsidies in the coming weeks. This announcement aims to provide clarity on the implications of the subsidy rationalization plan to all segments of society.
During the launch of the World Bank’s Malaysia Economic Monitor (MEM) 2024 report titled ‘Bending Bamboo Shoots: Strengthening Foundational Skills’, Rafizi highlighted the potential benefits of transitioning savings from subsidies to social assistance. He emphasised that this move could potentially double the reduction in the poverty rate and contribute significantly to fiscal savings.
Dr. Yasuhiko Matsuda, the World Bank Country Manager for Malaysia, was also present at the event.
Research firms anticipate that the positive impact of subsidy rationalization programs will be felt next year, leading to a stronger fiscal position for the country. However, they note that the implementation of these measures may affect aggregate consumption.
The expected developments are forecasted to influence investor sentiment positively, fostering increased confidence in the domestic market in the latter part of this year. Analysts at BIMB Securities Research anticipate that government reform efforts initiated in 2024 will yield favorable results in the following year.
With brighter prospects on the horizon for 2025, driven by improved clarity on US policy direction and Malaysia’s enhanced fiscal position, investors are expected to be delighted. It is projected that the fiscal deficit in 2025 will hover around 3.0 percent following the implementation of subsidy rationalization initiatives.
Rafizi clarified that a combination of factors, including fiscal consolidation, will contribute to driving the Malaysian ringgit higher. This is anticipated to narrow the gap between the local currency and its purchasing power.
Moreover, the implementation of the Main Data Base (PADU) is expected to provide the government with ample space to execute subsidy rationalization effectively. Minister Rafizi emphasized the importance of data accuracy in ensuring fair subsidy distribution to those in need.
Additionally, Rafizi highlighted that fiscal consolidation would pave the way for new growth opportunities. He underscored the significance of the KL20 Action Plan, a comprehensive set of reforms aimed at positioning Kuala Lumpur as a thriving hub for venture capital (VC) and startup entrepreneurs.
Business, Technology, Internet and network concept. Young businessman working on a virtual screen of the future and sees the inscription: Digital banking
By Dr. Muhammad Ali
The concept of financial inclusion, which strives to facilitate convenient access to financial services, serves as the foundation for the idea of digital banking. In Malaysia, many individuals from the bottom 40 percent of the income group still fall under financial exclusion. According to industry estimates, only 39% of Malaysians can take out bank loans, while the underbanked adult population of Malaysia has reached 55%. Additionally, the digital financial literacy of the lower-income group is still far behind the national average.
The Malaysian government has realized the importance of digital banking and financial literacy by implementing several initiatives. In 2019, the Malaysian government launched a five-year National Strategy for Financial Literacy (2019–2023) to secure Malaysia’s financial future through financial literacy. Other stakeholders, including the Securities Commission Malaysia (SC), Bank Negara Malaysia (BNM), and the Ministry of Education, further supported and crafted the national strategy. To promote digital banking in Malaysia, BNM has started issuing digital banking licenses to qualified applicants. This significant development recognizes the potential of electronic platforms to enhance technology inclusion in banking services.
The concept of digital banking will no doubt move us into a paperless future with greater freedom in financial services. However, the integration of electronic platforms into our lives, particularly digital banking, poses important questions: Are we fully ready to embrace digital banking? Do we possess an adequate level of financial literacy to navigate digital banking effectively?
What is needed to be financially savvy in digital banking?
The digital landscape encompasses a wide array of subjects crucial for navigating the modern era. This includes understanding digital banking and products, essential for managing finances in a digital world. Cybersecurity knowledge is indispensable, given the increasing threats posed by hackers and malicious actors. Familiarity with digital devices is paramount for efficient communication and productivity. Financial technology, or fintech, plays a pivotal role in shaping the future of finance and investment. Awareness of online scams and fraud is necessary to protect oneself from digital threats. Moreover, understanding digital currency is becoming increasingly important as cryptocurrencies gain traction in the global economy. Overall, a comprehensive grasp of these digital topics is essential for thriving in the digital age.
Acquiring digital skills is also imperative in today’s tech-driven world. This includes proficiency in mobile payment systems, facilitating convenient and secure transactions on-the-go. Understanding financial platforms and their usage is crucial for navigating the complex landscape of online banking and investment. Developing competency in financial decision-making empowers individuals to make informed choices about their money, fostering financial stability and growth. Financial savvy encompasses a broader understanding of economic principles and trends, enabling individuals to navigate financial challenges effectively. Mastery of credit management is essential for maintaining a healthy credit score and managing debt responsibly. Additionally, acquiring knowledge and skills in retirement planning ensures a secure financial future. In essence, cultivating proficiency in these digital skills equips individuals with the tools necessary to thrive in the digital age and achieve their financial goals.
What is required to promote digital banking and digital financial literacy in Malaysia?
Although the Malaysian government, in collaboration with stakeholders, is progressing well to improve digital banking and financial literacy through various programmes and activities, there is still a long journey to travel for a sustainable digital banking system in the country. We can use the following recommendations to strengthen the ongoing efforts to advance digital banking and maximize its benefits for the Malaysian population.
Infrastructure enhancement of digital banking in remote and underserved areas.
Implementation of financial inclusion curricula from schools to university levels.
Roadshows and digital campaigns to promote digital banking and financial literacy.
Micro-credential courses for digital banking.
Regulatory support for service providers and incentives for digital banking users.
Collaborative efforts between financial institutions, government agencies, community organizations, and educational institutes.
Now it is necessary to recognize the banking needs of Malaysian populations, especially those who are yet to receive complete benefits of financial services. Digital banking, under the shadow of financial inclusion, is the best way to extend financial services to unbanked individuals. With the rapid change in technology and advancement in digital platforms, financial literacy is an integral part of digital banking that helps individuals stay updated. Moreover, it plays a crucial role in achieving long-term financial security, ensuring stability and peace of mind while also promoting economic growth on a broader scale.
The author is a senior lecturer for the School of Accounting and Finance at Taylor’s Business School, Faculty of Business and Law, Taylor’s University
Thai banks will cut lending rates by 25 basis points for vulnerable groups for a period of six months, the country’s Bankers’ Association said on Thursday.
The decision came after Prime Minister Srettha Thavisin said this week he had asked Thailand’s four largest lenders to lower interest rates to help small businesses and the economy. Srettha has been urging the central bank repeatedly to slash rates.The association said the move would help ease the burden of interest. It did not specify how many banks would take part in the initiative.
UMW Toyota Motor announced the debut of the Toyota Yaris G Limited, a vehicle that redefines excellence in the non-national B-segment hatchback category. With its blend of enhanced performance, superior handling, and sleek design, the Yaris G Limited marks a new milestone in automotive innovation.
Limited to just 600 units, the Toyota Yaris G Limited promises a thrilling driving experience like no other. Priced at RM99,600.00 (on the road, without insurance), this exclusive variant comes with a full 5-year unlimited mileage warranty for the vehicle, with an additional 1 year/20,000km warranty for performance parts, ensuring peace of mind for every driver. Available in various colors, including the Sporty 2-Tone Exterior package, the Yaris G Limited caters to both lifestyle and performance enthusiasts alike.
According to UMW Toyota Motor, President, Datuk Ravindran K., “The Yaris G Limited represents Toyota’s commitment to pushing boundaries and redefining the driving experience. With its advanced features and dynamic capabilities, this variant promises an exhilarating driving experience that caters to customers seeking sophistication and excitement.”
Whether navigating city streets or embarking on weekend adventures, the Toyota Yaris G Limited is the ideal companion for every journey. Its performance-tuned suspension system enhances cornering ability and responsiveness, while its agile chassis and precise steering ensure accurate handling and control, keeping drivers fully connected to the road.
Equipped with a range of performance enhancements, including a throttle controller and cold air intake, the Toyota Yaris G Limited delivers a thrilling ride with flexible handling and improved power, ensuring a fun-to-drive experience for all customers. Adorned with the ‘LIMITED’ emblem, symbolising its exclusive status and performance pedigree, the Yaris G Limited draws inspiration from Toyota’s rich motorsports heritage.
“Embodying Toyota Malaysia’s ‘Move Your World’ vision, the Yaris G Limited reflects our dedication to innovation and customer satisfaction,” added Datuk Ravindran K. “With advanced features tailored to meet our customers’ needs, the Yaris G Limited exemplifies Toyota’s mission to redefine mobility.”
BMW Malaysia has introduced the latest addition to its electric vehicle lineup with the unveiling of the New BMW iX3 Final Edition. This premium all-electric Sports Activity Vehicle (SAV) is enhanced with additional M Performance equipment, elevating its already striking appearance.
Built upon the ‘Impressive’ trim, the New BMW iX3 Final Edition now comes standard with M Performance Carbon Mirror Caps, M Performance Carbon Fibre Door Sill, M Performance Rear Spoiler, and the Adaptive M Suspension lifetime upgrade. These additions not only enhance the vehicle’s aesthetic appeal but also contribute to its dynamic performance on the road.
The carbon fibre construction of the M Performance Carbon Mirror Caps underscores the SAV’s high-tech pedigree, while the M Performance Carbon Fibre door sill trim adds a sporty touch with its carbon insert and coloured M Performance logo. The M Performance rear spoiler in high-gloss black design gives the vehicle an aggressive look, sure to grab attention wherever it goes. Moreover, the newly equipped Adaptive M Suspension offers enhanced handling, allowing drivers to switch between comfortable and sporty driving modes.
Despite these upgrades, the New BMW iX3 Final Edition retains its sophisticated standard equipment, including a panoramic glass roof, automatic air conditioning with three-zone control, electric sport seats, 20-inch M aerodynamic wheels, Driving Assistant Professional, Parking Assistant Plus, BMW Laserlight, Harman Kardon surround sound system, BMW Head-Up Display, and Acoustic glazing.
Powered by the fifth-generation BMW eDrive technology, the New BMW iX3 Final Edition boasts a rear-wheel-drive system propelled by an electric motor generating up to 286 hp (210 kW) and 400 Nm of torque. This results in a century sprint time of just 6.8 seconds. Additionally, its lightweight high-voltage battery offers a gross capacity of 80 kWh, providing a range of up to 461km (WLTP) on a single charge.
The New BMW iX3 Final Edition is available in six exterior colours and two interior upholstery options. To make ownership more accessible, BMW Group Financial Services Malaysia offers flexible financing plans starting from RM 4,036.00 per month under the Easy Drive plan or RM 3,531.00 per month under the Straight Line Financing Plan.
Owners of the New BMW iX3 Final Edition will also enjoy the complete BMW Group Malaysia Premium Ownership experience, including a 5-Year Unlimited Mileage Warranty, 8-Year / 160,000 km Battery Warranty, Roadside Assistance, Accident Hotline, and Service Online.
The recommended retail pricing (on the road, without insurance) for the New BMW iX3 Final Edition starts at RM 299,800.00. For more information, visit the official BMW website or contact an authorised BMW dealership.
Nestle on Thursday missed first-quarter organic sales growth estimates as the world’s biggest packaged food company hiked prices and sold fewer products.
The maker of Maggi noodles and KitKat chocolate wafer bars confirmed its 2024 guidance of organic sales growth of about 4% and a moderate increase in underlying trading profit margin.
Organic sales, which exclude the impact of currency movements and acquisitions, rose 1.4% in the first quarter ended March, the maker of Maggi stock cubes and Nescafe coffee said. Analysts had on average expected organic sales growth of 2.9%.
“We had expected a slow start and see a strong rebound in RIG (sales volumes) in the second quarter with reliable delivery for the remainder of the year,” CEO Mark Schneider said in a statement. – Reuters
Toyota Motor Corporation announced its sales, production, and export results for March 2024 as well as the cumulative total from January to March 2024, and the fiscal year from April 1, 2023 to March 31, 2024, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd.
Total sales in March was recorded at 897, 271 a slight drop of 2.1% from the month before, cumulatively for the three months was 2.4 million which is up 0.1% indicating an increase for the past three consecutive year.
Its troubles Daihatsu unit continues to see drop in sales, dropping 62% and have declined 60% in the past three months.
Several domestic and international companies have shown interest in developing the electric vehicle (EV) ecosystem in Nusantara, Indonesia’s new capital city in Kalimantan, to realise its vision of a smart and green city, government officials said.
“There are a lot of companies or private investors who are interested in getting involved in Nusantara, especially in EV development,” Deputy for Funding and Investment of the Authority of Nusantara (OIKN) Agung Wicaksono said in an online seminar on Wednesday (Apr 24) as reported by Antara news agency.
Interested parties are both domestic and international and comprise state-owned enterprises as well as private companies and investors, he added.
One of the companies is major Indonesian taxi operator Bluebird, which has already broken ground on its projects in Nusantara. Bluebird’s project is to provide electric-powered bus rapid transit services to support urban transportation, electric-powered taxis, electric-powered rental cars, and public buses connecting the Balikpapan-Nusantara route.
Meanwhile, ComfortDelGro from Singapore is among the foreign companies which have also expressed interest in investing in Nusantara’s EV transportation sector, Mr Agung noted.
He added that in the EV manufacturing industry, companies such as BYD from China, PT Kalista from Indonesia and Škoda from the Czech Republic are keen to participate.
Authorities have highlighted that EVs are central to realising Nusantara’s vision as a smart and green city with an environmentally friendly transport system.
According to OIKN, private vehicles in Nusantara will be restricted while public transportation will make up 80 per cent of traffic. Most modes of transport in the city will be non-fossil fuel vehicles or electric, it added.
President Joko Widodo, or Jokowi as he is popularly known, had previously encouraged Nusantara residents to only use EVs for travel within the city.
Last year, Mr Jokowi inaugurated a 50-megawatt solar power plant project in Nusantara. Kompas reported that the plant will produce about 93 gigawatt hours (GWh) of green energy per year and will reduce carbon dioxide emissions by 104,000 tonnes annually
President Jokowi has also invited Apple CEO Tim Cook to invest in the new capital city. He made the invitation during their meeting in Jakarta last week.
The government is planning for Nusantara to be occupied as Indonesia’s new capital city in August, coinciding with the country’s 79th Independence Day celebrations.
More than 10,000 Indonesian civil servants from 38 ministries and institutions will move to Nusantara in September, marking the first phase of populating the city.
Nusantara is being built in five stages. The first is about three-quarters complete, covering basic infrastructure like the presidential palace, offices and housing. Toll roads and other major road networks are also expected to be ready by later this year.
The last stage of Nusantara’s construction is slated to be completed by Indonesia’s centennial in 2045 when it is connected with surrounding cities such as Balikpapan and Samarinda. – CNA
Pham Nhat Vuong, the Chairman of Vingroup and CEO of VinFast, attends Vingroup’s annual meeting in Hanoi, Vietnam, April 25, 2024. — Reuters pic
Vietnamese billionaire Pham Nhat Vuong said on Thursday he planned to invest US$1 billion more from his own fortune into Nasdaq-listed electric vehicle (EV) maker VinFast, and was considering listings for other companies he controls.
Speaking at a shareholders meeting of Vingroup VIC.HM, the conglomerate he chairs and of which he directly owns 18 per cent of its shares, Vuong said he could further expand investments in loss-making VinFast after he and Vingroup had poured US$11.4 billion into the company as of the end of last year.
“I plan to give VinFast US$1 billion from my own pocket,” he said without specifying a time frame. Vuong is the chief executive of VinFast, in which he has a 97 per cent stake in direct ownership and through companies he controls.
“The electric vehicle market will continue to grow, surpassing combustion engine cars. I will not give up on VinFast,” he said.
VinFast’s share price has plunged to US$2.5 from an initial listing in August at US$10, as the company failed to meet its sales targets last year and continues to report heavy losses.
Over 70 per cent of the 35,000 cars VinFast sold last year went to an electric taxi company, GSM, owned by Vuong, filings show. Another 10 per cent went to Vingroup and its units.
As GSM is also facing high costs while it tries to expand in the Vietnamese ride-hailing market and abroad, Vuong said on Thursday he planned to list the taxi company on the international market if conditions allow.
He also said Vingroup was considering listing its hospitality unit Vinpearl this year.
Vingroup last month announced a US$1.6 billion stake and asset sale in its retail unit Vincom Retail, one of its key profit engines, alongside real estate subsidiary Vinhomes, which remains profitable but faces a challenging property market.
Vuong said on Thursday Vingroup had no cash flow problems. — Reuters
In a virtual meeting held on Tuesday, Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani and EU Commissioner for Environment, Maritime Affairs, and Fisheries Virginijus Sinkevičius reaffirmed their commitment to collaborate closely on implementing the forthcoming EU Deforestation-Free Regulation (EUDR).
The Plantation and Commodities Ministry, in a statement said during the meeting, Commissioner Sinkevičius commended Malaysia’s efforts to reduce deforestation levels to unprecedented lows and acknowledged Malaysia’s dedication to certified sustainable commodity production.
He emphasised the importance of Malaysia’s sustainable certification standard for palm oil (MSPO) in providing readiness and assurances under the EUDR for supply chain partners and regulators in the EU.
Additionally, the ministry said both parties agreed to renew their efforts to ensure uninterrupted positive trade flows between Malaysia and the EU. They expressed their desire for continued fruitful cooperation to ensure the legality and sustainability of key commodities through the joint task force on EUDR established in 2023.
Commissioner Sinkevičius stressed the EU’s readiness to work jointly with Malaysia to enhance deforestation-free supply chains. He affirmed the EU’s support for Malaysia’s nationally mandated sustainable production of palm oil in compliance with EUDR requirements.
Johari highlighted the crucial role of the MSPO certification scheme in strengthening efforts to meet EUDR requirements, including global sustainability standards such as traceability and deforestation-free practices. He reiterated Malaysia’s unwavering commitment to sustainability targets and adherence to global standards.
Commissioner Sinkevičius welcomed Malaysia’s commitment and signaled the EU’s support for its efforts. The EUDR aims to contribute to the global fight against deforestation and forest degradation by addressing both legal and illegal deforestation, covering seven commodities produced in the EU or abroad.
Malaysian conglomerate Axiata Group and Indonesian group PT Sinar Mas are going ahead with plans to merge their telecom operations in Indonesia to create a USD3.5 billion entity.
The companies plan to merge their Indonesian units, PT XL Axiata and PT Smartfren, and are currently discussing the structure of a deal which could involve a mix of cash and shares, Bloomberg News said on Thursday.
A non-binding agreement may be reached in the coming months, allowing the companies to continue negotiations and carry out due diligence, the report said, adding that there was no guarantee that a deal would go through.
Telecommunications and digital conglomerate Axiata, XL Axiata, conglomerate Sinar Mas Group and Smartfren did not immediately respond to Reuters’ requests for comment.
Last week, telecom operator Dialog Axiata, which is majority owned by Axiata, signed an agreement to buy Bharti Airtel’s operations in Sri Lanka. – Reuters
