Malaysia, Uzbekistan to strengthen bilateral ties in numerous fields
KUALA LUMPUR (May 22): Malaysia dan Uzbekistan are to strengthen further bilateral ties and cooperation in fields like trade, investment, tourism, education, health, technical cooperation and human resource development, and people to people contact. Both sides also shared their views on regional and international issues including the situation in Uzbekistan’s neighbouring state of Afghanistan, through the meetings between Malaysian Deputy Foreign Minister Datuk Kamarudin Jaffar and his Uzbekistan counterpart, Furkat Sidikov. Kamarudin also called on Uzbekistan’s legislative assembly speaker Nurdinjon Ismoilov. The year 2022 denotes the 30th anniversary of the establishment of the diplomatic ties between Malaysia and Uzbekistan, and the courtesy calls made by Kamarudin has successfully contributed towards the efforts to enhance bilateral ties and cooperation. According to Wisma Putra, Uzbekistan is the second largest trading partner of Malaysia in Central Asia with bilateral trade from January-October 2021 worth US$45.53 million (RM195.78 million).
Source:The Edge Markets
May 23, 2022 04:47 UTC
5G network to have vast benefits, create new jobs — expert
KUALA LUMPUR (May 22): The deployment of the fifth-generation network (5G) in Malaysia is poised to benefit the end-users in numerous areas and create jobs for the people with the rollout being on track. Being one of the first countries in the region to build a 5G ecosystem, he said some projections estimated that approximately 148,000 new jobs would be created as the new 5G rollout progresses. “These new AI and AR applications are not possible with the current network, unlike the 5G network. Digital Nasional Bhd (DNB), the government-owned special purpose vehicle (SPV) for the 5G rollout, is committed to an accelerated schedule to roll out 5G coverage to 80% of the population by 2024. On Nov 10, 2021, the Ministry of Communications and Multimedia launched the country’s first 5G network in a bid to improve connectivity and become a high-income nation.
Source:The Edge Markets
May 22, 2022 21:37 UTC
Prasarana establishes committee to identify cause of LRT train brake issue
KUALA LUMPUR (May 22): Prasarana Malaysia Bhd (Prasarana) has established a committee to identify the main cause behind the brake caliper hydraulic fluid leakage that caused a disruption to the Kelana Jaya line Light Rail Transit service on Friday (May 20). The committee is made out of Rapid Rail Sdn Bhd (Rapid Rail) train spare parts supply companies, original equipment manufacturers (OEM) and independent consultants. Senator Datuk Ras Adiba Radzi and Prasarana president cum group chief executive officer Mohd Azharuddin Mat Sah were also present. Wee also said repair and maintenance of lifts and escalators at public transport stations managed by Rapid Rail will be conducted in stages and is expected to be completed by this September. Wee said however, it would depends on the reopening of OEM factories that supply spare parts from Shanghai, China that have been affected by the current lockdown in China.
Source:The Edge Markets
May 22, 2022 20:12 UTC
India interested in Malaysia as a wedding destination
KANGAR: India has stated its interest in turning Malaysia into a destination of choice for weddings, Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri said. She believes that wedding planners from abroad can see the uniqueness of this country, especially Perlis, which is blessed with beautiful natural vistas like green lush rice fields. Nancy said that previously, such activities were popular in certain areas, such as Genting Highlands, Pahang. Meanwhile, Azlan said the unique natural environment in the state could also be suitable as filming locations for productions from other countries, especially India. “We (the state government) will seek assistance from the central government to promote Perlis for filming,” he added.
Source:The Edge Markets
May 22, 2022 16:57 UTC
Doctor found dead in hotel room, no foul play suspected
PORT DICKSON: A 37-year-old doctor was found dead in a hotel room in Pasir Panjang near here. "A medical assistant from the Pasir Panjang government clinic was then called in and the doctor was certified dead just before 3pm. "Preliminary police probe in her room found no criminal element and the cause of death was established as undetermined," he said in a statement. Supt Aidi Sham said checks showed that the doctor, who was single, had checked in alone the day before. The case has been classified as sudden death following a post mortem conducted at the PD Hospital on Saturday (May 21).
Source:The Star
May 22, 2022 07:29 UTC
MoF: 1Q22 GDP growth, economic indicators indicate economic recovery has begun
KUALA LUMPUR (May 21): The Malaysian economy's return to a stronger footing in the first quarter of 2022 (1Q22) with a gross domestic product (GDP) growth of 5% and the latest economic indicators indicate that the economic recovery has begun. Besides, growth was also aided by Budget 2022's expansionary measures, projects with high-multiplier effects, and development programmes under the 12th Malaysia Plan. However, it said the government will continue to monitor the development of various economic risks so that external shocks that could affect the well-being of the people and businesses could be managed. The MoF has allocated RM450 million under Budget 2022 for environmental and biodiversity conservation, including tree planting and nature conservation projects. “This is important to ensure that companies are prepared for growth in market demand with respect to ESG, where the principles of good governance suggest the establishment governance structures for ESG regulatory in their investment strategies.
Source:The Edge Markets
May 21, 2022 23:25 UTC
Datuk remanded for six days over probe into crude palm oil sales tax evasion case
KOTA KINABALU: A former civil servant with a Datuk title has been remanded for six days to allow investigators to question the suspect for alleged involvement in the evasion of millions of ringgit in Sabah's crude palm oil sales tax. Magistrate Jessica Ombou Kakayun issued the remand order for the 66-year-old suspect who appeared in court here on Saturday (May 21). The suspect was detained when he came to provide a statement on the tax evasion matter at the state Malaysian Anti-Corruption Commission (MACC) headquarters at 4pm Friday (May 20). ALSO READ: Datuk nabbed over evasion of crude palm oil sales taxThe duo is alleged to have received RM700,000 in bribes from a palm oil mill in Lahad Datu to turn a blind eye to the mill's falsification of the quantity of crude palm oil produced to evade state taxes worth about RM2mil a month since 2015. Following the arrests, state secretary Datuk Seri Safar Untong said he is prepared to provide full assistance to graft busters who have been probing the tax evasion case involving civil servants.
Source:The Star
May 21, 2022 20:19 UTC
Singapore still rules China futures market as Hong Kong edges in
Hong Kong Exchanges & Clearing Ltd introduced its new A50 futures contract in October, tracking the MSCI China A 50 Connect Index. SGX’s deep ecosystem in China A50 index futures can’t be replicated overnight, said Michael Syn, head of equities at SGX. While it has been losing some market share to Hong Kong, Singapore’s A50 futures volume has been rising. Hong Kong’s contracts, meanwhile, have yet to start contributing to earnings given the fee waiver, Bloomberg Intelligence’s Wong said. But Bruce Pang, head of macro and strategy research at China Renaissance Securities Hong Kong Ltd, a brokerage in the city, said that’s only a matter of time.
Source:The Edge Markets
May 21, 2022 15:26 UTC
My Say: Why is China roaring through the middle-income level and Malaysia trapped in it?
Like Malaysia, China has its own five-year development plans and industrial master plans. All of China’s five-year plans have a vision statement of realising the “China dream of rejuvenating the nation”. It is the 13th five-year plan that is of interest for us for this question. Working hand in glove with the five-year plans are the industrial master plans. By comparison, of Malaysia’s five-year plans, called Malaysia Plans or “MP”, the 11th would be synchronous with the two China plans mentioned above.
Source:The Edge Markets
May 21, 2022 11:35 UTC
Mondelez International to keep Cadbury chocs and biscuits affordable
Narmeen, who assumed the position in February 2022, said Mondelēz is not excluded from experiencing inflation across markets, including in Malaysia. "Other considerations include enhancing existing distribution and expanding into channels with rapid growth to minimise cost effects to guarantee our products remain affordable," she said. Narmeen said the two facilities play a critical role in the overall supply chain, serving local and export markets across Southeast Asia. "Although we are not planning any expansion in the near future, our manufacturing plants are vital to the overall supply chain, and the pandemic has caused numerous disruptions. On the global anti-palm oil lobby, she said the company is actively working with suppliers to ensure the commodity is produced in an environmentally-friendly manner.
Source:The Edge Markets
May 21, 2022 04:43 UTC
Sibu dance festival returns in June
THE annual Sibu International Dance Festival (SIDF) is making a comeback after two years. Themed “Jejak Angin” (Wind Trail), the event will take place from June 9 to 11 at the Civic Centre in Sibu, Sarawak. They are Madhumita Raut Odissi Dance Group (India), Surya Medal Puteri Kencana (Indonesia), No.3355 (Japan), Albert Tiong Ing Siong, SCAPE Dance Residency and Singapore Chinese Dance Theatre (Singapore), and Team Vibe Worldwide from the Philippines. Among them are Surya Medal Puteri Kencana who performed in 2017, Team Vibe Worldwide in 2018 and the Singapore Chinese Dance Theatre in 2012. The event is organised by Hornland Dance Theatre and supported by the Sarawak Tourism, Creative Industry and Performing Arts Ministry and Sibu Municipal Council.
Source:The Star
May 21, 2022 00:00 UTC
CEO: TRX infrastructure 99% completed
KUALA LUMPUR (May 20): Tun Razak Exchange (TRX) is now 99% completed, with the remaining 1% comprising major infrastructure works which are nearing completion, master developer of the financial district TRX City Sdn Bhd said. “Although we were constrained by the Movement Control Order (MCO) resulting from the Covid-19 pandemic, we managed to continue developing TRX and the successfully completed buildings today are Menara Prudential and HSBC Bank,” TRX City chief executive officer Datuk Azmar Talib told the media at the Hari Raya open house at Raintree Plaza, TRX here on Friday. Azmar said although TRX City is the master developer, the development of the individual plots depend on the respective land owners. On global inflationary pressures and rising interest rates, Azmar said the company does not rule out their impact on TRX, but (the fact remains that) it has completed most of the development work. “We will be completing the work, but moving forward we have to be aware (of this inflationary pressures and rising rates) and we have to adjust with this.
Source:The Edge Markets
May 20, 2022 22:01 UTC
Bandar Parklands folk up in arms over high-density project
They carried out a peaceful protest outside the site of a proposed development off Jalan Persiaran Delima 2 in Bandar Parklands. Bandar Parklands RA Precinct 3A chairman Kuldip Singh, who is also the ad-hoc committee chairman coordinating the protest, said a majority of the residents in Bandar Parklands had voiced out against the mega high-rise project. Bandar Parklands Precinct 3 chairman Ken Chew, 46, was worried that the high-density project would contribute to traffic congestion while Bandar Parklands Lorong Delima 13A Precinct coordinator Kan Kim Seng, 68, said the entire community would benefit from a lower plot ratio. Bandar Parklands Lorong Delima 59A resident, T. Selvarajah, 65, said developing the land would be a grave mistake in light of frequent flash floods in the area. Bandar Parklands Jalan Delima 14A RA coordinator K. Rajoo agreed, saying the development in the area consisting largely of single-family homes was too big for the local infrastructure to handle.
Source:The Star
May 20, 2022 12:21 UTC
Musk's Starlink plans to provide internet service via satellite in Malaysia
LOS ANGELES (May 20): Starlink, a high-speed, low-latency broadband internet provider operated by Elon Musk's aerospace company SpaceX, plans to expand its footprint in Malaysia to enable the country to increase its internet penetration rate, especially in the rural areas. Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said, however, several matters were still being considered by the government on Starlink's (policy-related) proposals to introduce internet service using satellites. Azmin was speaking to Bernama and TV3 journalists after meeting with representatives of SpaceX and Starlink at the SpaceX headquarters here on Wednesday (Thursday in Malaysia). Besides meeting with SpaceX dan Starlink, Azmin also had a meeting with Cue Health Inc, a healthcare technology company that develops portable diagnostic tests for at-home use. "They have identified several suitable sites for this investment, and they will be in Malaysia in June to finalise a suitable place for the investment in Malaysia," he said.
Source:The Edge Markets
May 20, 2022 11:38 UTC
EEA roadshow makes its way to Penang
(from left) FMM’s Lee, Pentamaster Corp’s Chuah and Standard Chartered Malaysia’s Woon are among the panellists for the first panel session during the upcoming EEA 2022 Penang roadshow on May 27, to be held at The Wembley, St Giles Hotel in Penang. The EEA 2022 Penang roadshow will be held on May 27, starting 2.30pm, at The Wembley, St Giles Hotel. Yeoh, for one, has been the CEO of Digital Penang since April 2020. A government agency for Penang state, Digital Penang was established to accelerate efforts to capture opportunities in the digital economy and promote a digitally engaged society. To register for the EEA 2022 Penang roadshow, visit http://bit.ly/EEAPenang.
Source:The Star
May 20, 2022 00:09 UTC