FDI (Foreign Direct Investment) inflows into Malaysia’s Capital intensive sectors to create more jobs

Posted on : 27-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR– A list of domestic mega projects that are already in progress or to be started soon, have attracted an inflow of foreign direct investments (FDIs), which will create high value and ready jobs in future for youths , particularly in the capital intensive sector.

For instance, Malaysia’s mega infrastructure projects are expected to boost the country’s economy by more than 50 per cent to RM2 trillion in the next seven to eight years, which will drive job creation in high-value services and knowledge intensive industries.

MIDF Amanah Investment Bank Bhd’s Chief Economist Dr Kamaruddin Mohd Nor said for the first quarter of 2017, Malaysia’s FDI had ballooned to RM17 billion and was the largest value since December 2012.

Comparatively, Malaysia recorded FDI of RM13 billion in the 4Q16.

“Theoretically, FDIs have a direct and indirect impact on job creation. FDIs into a sector help generate jobs for it and also in the ancillary sectors. The spillover effect will in turn help boost employment and consumption,” he told Bernama.

Major investments by foreign companies in Malaysia include China’s Huawei which is investing RM2.2 billion for its global operations headquarters, data hosting and global training centres, while employing more than 2,370 people.

Saudi Aramco in turn is investing US$7 billion for a 50 per cent stake in the Petronas Refinery and Petrochemical Integrated Development in Johor, while London-based HSBC’s future regional headquarters at the Tun Razak Exchange here will cost over RM1 billion to build.

Under the National Transformation Plan (NTP), the government has embarked on bold moves and tough decision making towards ensuring Malaysia stays on track to becoming a high-income advanced economy.

At the same time, the NTP has contributed towards making Malaysia an attractive destination for foreign investors, resulting in jobs creation for the people.

Under the NTP, the average growth rate of the gross domestic product (GDP) since its implementation has been maintained at above five per cent, with inflation and unemployment kept stable and low, the gross national income per capita having increased by more than 50 per cent, as private investments improved.

Business regulations have been upgraded as well, with Malaysia emerging as a country with a better pool of an educated workforce.

Prime Minster Datuk Seri Najib Tun Razak in his keynote address at Invest Malaysia 2017, noted that between 2009 and 2016, the Gross National Income (GNI) increased by nearly 50 per cent, and GNI per capita using the Atlas method, increased to US$9,850.

Based on the World Bank’s latest high income threshold of US$12,235, Malaysia had narrowed the gap towards the high income target from 33 per cent to 19 per cent and at the same time, 2.26 million jobs had also been created.

That, represents 69 per cent of the 3.3 million target the government wants to reach by 2020.

SOURCE– BERNAMA

Grab raises US2.5 bln investments to expand

Posted on : 25-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR: On-demand transportation and mobile payments platform, Grab, yesterday announced that Didi Chuxing (DiDi), the world’s leading one-stop mobile transportation platform, and SoftBank Group Corp (SoftBank), a global technology leader driving the Information Revolution, will invest up to US$2 billion to lead Grab’s current financing round.

Grab anticipates that it would raise an additional US$500 million, bringing the total to US$2.5 billion in this round from existing and new investors, it said in a statement.

This is the largest single financing in the history of Southeast Asia and would support efforts to  strengthen Grab’s dominant market position for on-demand transportation and payments in the region,

“We’re encouraged that these two visionary companies share our optimism for the future of Southeast Asia and its on-demand transportation and payments markets and, recognise that Grab is ideally positioned to capitalise on the massive market opportunities.

“With their support, Grab will achieve an unassailable market lead in ride sharing and build on this to make GrabPay the payment solution of choice for Southeast Asia.

“We look forward to continuing to work with our valued partners in the future,” said group chief executive officer and co-founder Anthony Tan.

Grab transportation network is one of the most frequently used mobile platform in the region with nearly three million daily rides.

Today, the Grab app has been downloaded into 50 million mobile devices and offered private car, motorbike, taxi, and carpooling services across seven countries

and 65 cities in Southeast Asia.

Meanwhile, GrabPay Credits, a cashless top-up payments option, has grown more than 80 per cent, month-on-month, since its launch in December 2016.

SOURCE— BERNAMA

LEAP (Leading Entrepreneur Accelerator Platform) market to take SMEs to next level

Posted on : 25-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR: Bursa Malaysia Bhd’s new Leading Entrepreneur Accelerator Platform (LEAP) Market will help take the growth of small medium enterprises (SMEs) to the next level, says Prime Minister Datuk Seri Najib Tun Razak.

Through LEAP, which was officially launched by Najib on Tuesday at the Invest Malaysia 2017 here,wealthy investors can lend money via the capital market to the SMEs.

He said LEAP is a new qualified market which offers an alternative for SMEs to raise funds and grow their business to the next level.

“SMEs make up 97% of businesses in Malaysia, and one of the hallmarks of my administration has been its support and encouragement for this backbone of our economy.
“It is in line with the SME Masterplan which aims to raise the share of Gross domestic product (GDP) contribution by SMEs, their number of employees and volume of exports.

“It is also another of the many initiatives put in place in pursuit of  transformation, and prove our trustworthiness as a business-friendly government of a vibrant economy,” Najib said in a keynote address at the Invest Malaysia 2017 opening, prior to LEAP’s launch.

The new market aims to provide SMEs with an alternative and efficient fund raising platform and visibility through the capital market where wealthy investors can lend money via the capital market to the SMEs.

Bursa Malaysia Bhd Chief Executive Officer, Datuk Seri Tajuddin Atan at the launch, meanwhile said, LEAP is designed to address the funding gap for SMEs and provides investors with a new investable asset class.

“The availability of such a platform will further aid the development of SMEs and support broader economic activities.

“Trading on the LEAP market is limited to sophisticated investors, according them an opportunity to broaden their investment options in a transparent and regulated environment,” he added.

During the launch of LEAP, the prime minister also witnessed the exchange of memorandums of understanding (MoUs) between Bursa Malaysia and its four strategic partners, namely the Malaysia Digital Economy Corporation (MDEC), Malaysian Technology Development Corporation (MTDC), SME Corporation and the Bumiputera Agenda Steering Unit (TERAJU).

The strategic partners will support in the identification of potential SMEs to be listed on the LEAP market and also collaborate to jointly develop the SME financing eco-system and capacity building.

To date, eleven SMEs have engaged LEAP’s approved advisors to assist them with the listing process.

Potential issuers, according to Bursa’s circular at the launch include, Cloudaron Pte Ltd, Agrofresh International Group Sdn Bhd, Red Ideas Holdings Sdn Bhd and Polymer Link Sdn Bhd.

SOURCE- BERNAMA

Dinner In The Sky coming to Sabah

Posted on : 25-07-2017 | By : sabah today | In : National Business

Kota Kinabalu: Sabah will be the next stop for the Dinner In The Sky Malaysia series after Kuala Lumpur, Penang and Johor, respectively.

The one-of-a-kind dining experience is endorsed by the Sabah Tourism Board and will be co-sponsored by Sutera Harbour Resort for a month, with two dinners served daily in the beautiful Kota Kinabalu skies.

“Dinner In The Sky” is a unique dinner experience that uses a crane to hoist diners, table and waiting staff 150 feet above ground, giving them an amazing bird’s eyeview whilst enjoying exquisite culinary feast.

Dinner In The Sky is currently only available in Malaysia in the South East Asian region.

Already a well-known brand of entertainment, this innovative Belgian-based experience has hosted more than 5,000 dinner events in 40 cities around the world.

Iconic locations have included the Kuala Lumpur Tower, the Marina of Dubai, Villa Borghese in Rome, Athens, Copacabana Beach, and Cape Town.

Forbes magazine has called it as one of the world’s Top Ten most unusual restaurants.

Some of the more notable Malaysian celebrities that have had this one of a kind experience include Dato’ Siti Nurhaliza, Dato’ Lee Chong Wei, Erra Fazira and Amber Chia.

Arvin Randahwa, CEO of TwoSpicy Entertainment, the company that owns the Dinner In The Sky Malaysia licence exclusively in Malaysia said :

“We are aware that most of the major events and experiences that come into our country are targeted towards West Malaysia. However Sabah is just so beautiful and the people here are lovely.

We therefore wanted to bring this ‘gift’ to Sabahans and the many tourists that visit it.

This is your chance to experience this world class product at your backyard and treat your loved ones, friends or corporate members for an unforgettable experience.”

Sabah Tourism Board Chairman Datuk Joniston Bangkuai said this unique dining experience provides opportunities to both locals and visitors a totally different view of KK, which is from the sky!

While seated guests will wear safety belts, standing presenter and crew are secured by safety harnesses all the time during the flight.

A safety supervisor will brief patrons about all the safety regulations prior to the flight and will be in constant communication with crane operator and ground crew for a smooth flight.

SOURCE:- THE BORNEO POST

MIGHT (Malaysian Industry Government Group), industry stakeholders to study impact of disruptive technology

Posted on : 25-07-2017 | By : sabah today | In : National Business

CYBERJAYA: The Malaysian Industry Government Group for High Technology (Might) is collaborating with several industry stakeholders to run a pioneer project on disruptive technology.

Might president/chief executive officer, Datuk Dr Mohd Yusoff Sulaiman, said the collaboration involved a study to assess the level of disruption of new technologies on the industry and the community, in line with the Government’s effort in exploring the Fourth Industrial Revolution (Industry 4.0).

“The Industry 4.0’s sphere is too wide, involving artificial intelligence, genomics, Internet of Things (IoT) and many other technology which can be categorised as disruptive industry, but bodes a promising outlook for the industry,” he told reporters at MIGHT’s Hari Raya celebration in Cyberjaya on Monday.

Also present was Minister in the Prime Minister’s Department, Datuk Seri Nancy Shukri.
Mohd Yusoff said just like how Uber and Grab had changed the landscape of taxi service today, a study on IoT was also being conducted to forecast technological changes.

“We will also see how IoT can affect the people’s daily transactions in terms of financial or non-financial transactions,” he said.

He said MIGHT, an agency under the purview of the Prime Minister’s Department, was also in the midst of a discussion with the Government on the policies and laws which should be customised according to technological developments.

“We should also create a group of youngsters with technological skills to introduce new products and services to the community, thus transforming ‘disruptive technology’ to ‘assisting technology’,” he said.

Meanwhile, Nancy said, the second reading for the Land Public Transport (Amendment) Act, which aimed to regulate Uber and Grab services using the e-hailing application, would be presented at the Dewan Rakyat on Wednesday.

SOURCE- BERNAMA

Tailored structural reforms key to productivity boost – IMF Economic Counsellor Maurice

Posted on : 25-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR– Well-sequenced and tailored structural reforms are needed in all countries to boost productivity and investment, said International Monetary Fund (IMF) Economic Counsellor Maurice Obstfeld.

He said this is on the backdrop of the subdued medium-term outlook for advanced economies and commodity exporters.

“Fiscal policy should support growth and potential output, as well as being inclusive,” he told a briefing on the “World Economic Outlook Update” here today.

Emphasising on the continuation of an accommodative monetary policy or data dependent monetary normalisation, he said, “Implement comprehensive policies with strong policy frameworks.”

Obstfeld said Malaysia was in a favourable position with strong balance and there was room for further strengthening of safety net and transition to the digital economy and higher-income economy.

However, he said education and up-skilling to move into the knowledge based advance economy needed to be addressed effectively.

Asserting the need to build up financial sector resilience and rein in leverage and lower financial risks, he warned that tightening financial conditions globally might trigger spillovers to emerging markets.

“While risks balanced in the near term with stronger and more sustained cyclical growth momentum in Europe, where political risks has diminished, downside risks are skewed in the medium term,” he added.

Obstfeld attributed the downside risks to markets that may push central banks towards too rapid tightening and escalation of inward looking policies.

“In this respect, continue structural and fiscal reform, balance sheet repair, improvements in the financial stability framework,” he emphasised.

“Exchange rate flexibility aids macroeconomic adjustments, but beware of inflation and currency mismatches.

“Global recovery is on track but the composition is changing as downward revisions in the US and the UK are offset by positive revisions in emerging markets, Euro Area and Japan,” he said.

The IMF maintains its projection for the global economy at 3.5 per cent for 2017 and 3.6 per cent for 2018.

It is revising a higher growth projection for emerging market and developing economies for 2017 at 4.6 per cent and maintaining a projection of  4.8 per cent growth in 2018.

SOURCE– BERNAMA

Malaysia to benefit from Industry 4.0 – Ong Ka Chuan

Posted on : 25-07-2017 | By : sabah today | In : National Business

GEORGE TOWN– Malaysia will benefit from the new era of computerisation of manufacturing which is known as the fourth industrial revolution (Industry 4.0), as domestic and foreign direct investments are expected to rise.

Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said companies, especially multinationals were migrating to Industry 4.0 to increase their productivity.

Urging local companies to act quickly and adopt new technologies, as it would open up more opportunities through efficient business models, he said: “We expect higher investments from local and foreign companies during the migration period into Industry 4.0.

“I believe we can meet our approved investment target of RM55 billion in the manufacturing sector in 2017,” he told reporters after officiating the Supply Chain Conference for Northern Region at the Penang Skills Development Centre here, today.

In earlier reports, the Malaysian Investment Development Authority (MIDA) said they had set a lower approved investment target for 2017, with RM55 billion for manufacturing and RM75 billion for services, excluding real estate, mainly due to external uncertainties.

Ong said however, Malaysia has a solid manufacturing base, with over 40 years of experience in the manufacturing sector since globally renowned corporations set foot here in the early 1970s.
For the past 20 years, he said the sector had equipped itself with robotic assembly lines, precision engineering and computer-controlled processes.

“MITI (Ministry of International Trade and Industry) and its agencies are embracing these opportunities and we want to see more companies adopting smart manufacturing processes and technologies that will lower costs and increase efficiency,” he said.

Meanwhile, he said Malaysia should stop relying on exports of commodities and move towards manufacturing value-added products by adopting new technologies in research and development.

He said the manufacturing sector accounted for 82 per cent of Malaysia’s total exports of about RM780 billion, while aw material products, including palm oil, rubber and petroleum made up only 17 per cent.

SOURCE– BERNAMA

Proton-Geely partnership gives local vendors global market opportunities – Mustapa –

Posted on : 25-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR: Proton Holdings Bhd’s strategic partnership with China’s Zhejiang Geely Holding Group would provide an opportunity for local car parts vendors to penetrate the global market, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.

He said the partnership would allow local car parts vendors to sell their products for Geely-manufactured vehicles, provided they met the stipulated quality and standards.

“Geely had given Proton the assurance that in addition to supplying components to Proton, the vendors would also be able to supply parts for Volvo vehicles if their products meet international quality and standards. Towards this end, the Government would ensure there is a capacity-building programme for the vendors,” he said.

Mustapa said there were 240 local vendors who supplied car parts to Proton.

“They play an important role in the industry and must ensure their products meet international quality and standard,” he said at the Dewan Rakyat session here, Monday.

He said this in reply to Hee Loy Sian (PKR-Petaling Jaya Selatan), who asked if the government would guarantee local vendors would be protected under the partnership.

“If the local vendors can supply components of international quality and standard, they would not only have the opportunity to become Geely’s suppliers, other car manufacturers would also want components from them,” he said.

Mustapa said based on the 10-year business plan finalised by Proton and Geely, coupled with the extensive experience of the later, the government was optimistic Proton would be more competitive and its overall performance enhanced post-partnership.

“Geely is a renowned carmaker in China with annual sales hitting 1.2 million units. Its cars are sold in 23 countries as of 2016,” he said.

The company had also made a great success of reviving the Volvo marque, he said.

“The Government is confident Proton will have a brighter future by working with Geely,” he said.

SOURCE-BERNAMA

Tailored structural reforms key to productivity boost – IMF Economic Counsellor Maurice

Posted on : 24-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR: The International Monetary Fund (IMF) has raised Malaysia’s gross domestic product (GDP) growth projection for this year to 4.8% from 4.5%, on the back of savvy economic management and commendable monetary policies.

Malaysia registered a GDP growth of 4.2% last year, down from 5% in 2015 and 6% in 2014.

The country posted a 5.6% GDP expansion in the first quarter ended March 31 compared to the same quarter a year ago.

IMF economic counsellor and director of research department Dr Maurice Obstfeld noted that the fund remains optimistic on the country’s economic outlook moving forward.

“We have upgraded our growth outlook for Malaysia this year as we see successful efforts undertaken to increase the sustainability of debt which is on a downward trend.

“In addition, the country’s steady handling of monetary policy is commendable.

“Looking at the potential upsides moving forward, we are optimistic on Malaysia,” Obstfeld told reporters in a media briefing here yesterday.

The Asian Development Bank (ADB) also upgraded Malaysia’s growth outlook to 4.7% from 4.4% last week, on stronger GDP growth in the first quarter of the year, driven by rising exports and continued growth in the manufacturing sector.

The IMF’s and ADB’s projections remain within the official growth outlook ranging between 4% to 5%.

The IMF’s World Economic Outlook update report also pointed out that apart from Malaysia, economic growth in a number of Asean countries namely Indonesia, the Philippines, Thailand and Vietnam will remain robust at 5.1% collectively in 2017, underpinned by the pickup in global trade and strengthening of domestic demand.

On the global front, the fund predicts economic activities to accelerate further this year and in 2018, as cyclical economic recovery continues globally.

Economic activity in both advanced economies and developing economies is forecast to accelerate this year, to 2% and 4.6% respectively, with global growth projected at 3.5%.

Meanwhile, the leading index, an indicator of economic activities including the KLSE Industrial Index expected sales value of manufacturing and real imports of semiconductors, registered a growth of 1.2% to 118.6 points in May, with six of the seven index components recording positive growth.

The Statistics Department said the coincident index, which measures current economic activity, rose by 0.9% in May.

The annual change of the coincident index recorded the highest growth in 2017, increasing to 4.5%.
SOURCE:- THE STAR

CNI goes digital, partners with 11 street

Posted on : 24-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR: 11street has announced that it recently entered into a partnership with CNI Holdings Bhd (CNI), a traditional homegrown business, with the aim to help the latter transition onto the online sphere.

The partnership arose from CNI’s objectives to engage a younger and more tech savvy crowd; simultaneously address the needs of an evolving consumer market in the country.

In a press statement, 11street’s chief operating officer, Chuljin Yoon said: “As online shopping takes a forefront in Malaysian retailing, brick-and-mortar businesses must consider to adopt omni-channel strategies.

“This is important because as the market shifts, businesses need to deploy creativity to reach out to more consumers. By partnering with 11street, CNI has opened another channel to reach the masses, and boosted their 11street sales by 30 per cent over the past six months. We believe that these numbers will continue to rise as CNI introduces more of its best-selling products on our platform.”

Since the partnership began in January 2017, CNI has introduced a variety of its products on 11street, ranging from nutritional and health supplements; personal care items and cosmetics; food and beverage; auto care; and household consumer products.

CNI’s chief executive officer, Kelvin Koh explained: “The decision to go digital with 11street came from the need to adapt to the local business environment. By latching on to a robust Malaysian e-commerce landscape, we are able to branch out with complete confidence in 11street’s ability to help amplify the reach of traditional businesses like ours.

“Since January, we have seen a significant increase in sales as well as the strengthening of our brand positioning. This is evident through an increase in product exposure of our more popular products such as the SEHATI CNI Tongkat Ali Ginseng Coffee, Co-Go II Crawling Insect Spray and Nutrimoist.

“With such positive responses, we expect to list more of our products to 11street shoppers in the coming months.”

Established in 1989, the founders of CNI – Datuk Koh Peng Chor, Tan Sia Swee and Law Yang Ket – came from humble beginnings. They shared a vision to start a business with minimal capital; but at the same time wanted to empower budding entrepreneurs to grow their businesses at their own pace.

Almost thirty years later, CNI’s catapult into e-commerce anchors its aspirations of strengthening its market penetration and growing its consumer base in Southeast Asia.

“Today’s robust market demands higher flexibility and adaptability from various forms of businesses. This is why we encourage all forms of traditional businesses to join the e-commerce movement, as it provides greater awareness as well as convenience for consumers today,” Yoon elaborated.

Koh concluded: “11street presents an opportunity for businesses to grow together through its unique structure and ability to reach out to the online masses effectively. We hope to continue leveraging the 11street platform to grow digitally, in line with current trends and contribute towards the digital economy in Malaysia.”

Starting today until August 31, 2017, 11street offers the exclusive promotion of a complimentary packet of SEHATI CNI Tongkat Ali Chicken Curry Paste with every purchase of Twin pack CNI Tongkat Ali Ginseng Coffee.

SOURCE:- THE BORNEO POST

Petronas Lubricants to grow business globally

Posted on : 20-07-2017 | By : sabah today | In : National Business

BANGKOK– PETRONAS Lubricants International (PLI), a subsidiary of national oil company, Petroliam Nasional Bhd(PETRONAS), will continue to invest significantly in marketing and infrastructure as it seeks to grow its business globally.

Its Group Chief Commercial Officer, Giuseppe Pedretti, said PLI, as among world’s top ten lubricants companies, would continue with its investment strategy to expand its global coverage.

“PLI will invest significantly in marketing and infrastructure as it seeks global coverage for its products,”he told the media during the unveiling of PLI’s latest product, “PETRONAS Syntium Diesel With Cooltech”,here today.

He said the company has just opened its latest plant in Shandong, China and would be opening one in another important market, India, next year.

Pedretti said PLI’s new research and development plant in Turin, Italy, would begin operation in March next year, churning out more high-technology products for global markets.

Currently, the PETRONAS Syntium is the trusted lubricants brand for millions of drivers worldwide and sold in 80 markets globally.

Meanwhile, PLI Asia Regional Head, Khalid Latiff, who was also present during the unveiling of its latest product, said the company considered Asia-Pacific an important market and has laid out a comprehensive growth plan.

“There is a lot of growth in the region,” he said, adding that the company wanted to capture more market in Asia-Pacific through technologically-driven products.

The PETRONAS Syntium Diesel With CoolTech, its flagship Passenger Car Motor Oil (PCMO) lubricant brand, specifically designed for common-rail and exhaust gas recirculation (EGR) engines, has been expertly engineered to fight excessive engine heat to maintain optimum engine performance for a trouble-free drive.

Excessive engine heat is a common problem that is widely underestimated by drivers.

“PETRONAS Syntium is uniquely engineered with strong oil chains to effectively absorb and transfer excessive heat from critical engine parts. By stopping engine-damaging heat at its source, drivers can be assured of optimum driving performance,”said Pedretti.

In Thailand, the PETRONAS Syntium will be available nationwide from August onwards.

SOURCE– BERNAMA

Invest Malaysia KL 2017 to promote key developments in capital market

Posted on : 20-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR— The strength of Malaysia’s fundamentals and its ability to navigate economic uncertainties, including plans by Malaysia’s pension and investment funds to increase returns to shareholders, will be discussed, among others at the two-day Invest Malaysia Kuala Lumpur conference (IMKL) beginning July 25.

The conference, jointly organised by Bursa Malaysia and CIMB Investment Bank, is being held against the backdrop of positive developments like strong fundamentals, a return of capital flow to the market, stabilising ringgit and higher gross domestic product (GDP) growth expected this year.

In a statement today, Bursa Malaysia said the two-day conference, to be officiated by Prime Minister Datuk Seri Najib Razak, would provide the platform for regulators and policy makers to promote key developments in the Malaysian capital market.

IMK 2017 would also serve as an avenue for both local and international investors to network with policy makers and industry leaders to facilitate their investment decisions.

Participants would also hear the experience of Malaysia Digital Economy Corporation, Google Malaysia and Lazada Malaysia in overcoming and anticipating threats and how hey changed the way they conducted business.

SOURCE— BERNAMA

Association eyes 600 participants for Entrepreneurs’ Conference 2017

Posted on : 20-07-2017 | By : sabah today | In : National Business

KUALA LUMPUR–The Branding Association of Malaysia is targeting 600 participants, including local businessmen and entrepreneurs for the one-day Brand Entrepreneurs’ Conference 2017, to be held on August 7. President Datuk Eric Chong said this year’s conference would attract more young entrepreneurs and businessmen as it would focus on business digitalisation, among others. “Unlike previous conferences where we focused on conventional businesses, this year we will focus on new businesses and the future of business models. “This (conference) is where young entrepreneurs will get a clearer picture of business directions,” he told a press conference here today. Organised by the association in collaboration with the Malaysia External Development Corporation (MATRADE), the conference would be supported by the Ministry of International Trade and Industry. Themed, ‘Sailing in Uncharted Waters – Opportunities & Threats in This Ever Changing World’, the conference aimed to inspire the local business community by giving them the opportunity to learn from and interact with upcoming business leaders and successful local entrepreneurs. It would also feature panel discussions on topics such as ”Innovation”, ”Digitalisation”, ”Brand Culture” and the “Malaysian Landscape”, where participants would be updated on current business trends. Chong said participants can share their business management problems with the experts, rather than just sit and listen to lectures. “We are inviting successful entrepreneurs and businessmen to share their experiences that brought them to be where they are, right now,” he added

SOURCE — BERNAMA

Influx of Chinese investors interested in M’sian properties

Posted on : 20-07-2017 | By : sabah today | In : National Business

There is an influx of Chinese investors interested in the Malaysian property market, says London-based global property consultancy agency, Knight Frank LLP.

Asia Pacific Research Head, Nicholas Holt said this year was one of the busiest with a lot of Chinese investors aggressively discussing with the agency.

“There are a lot of China-based manufacturers, as well as other sectors that have set foot in Malaysia, and most are very positive in doing business here,” he told reporters at the inaugural Active Capital, The Global Report 2017 launch, in Kuala Lumpur today.

According to the report, Asian real estate investors have launched themselves onto the global stage over the last few years to become one of the most important global capital exporters, with China (11 percent) ranking second behind the United States, Singapore (seven percent, 6th), Hong Kong (five percent, 7th), South Korea (three percent, 7th) and Japan (one percent, 16th) significantly further down the top 20 list.

“However, it is Chinese capital that has been the key driving force behind global real estate transaction volumes over the past few years, especially across the Super City markets based on the report.

“Despite recent geo-economic uncertainties around the world, Chinese appetite for mega-assets seems insatiable.
“However, some target locations are beginning to feel uneasy around the sustainability of Chinese investment, as questions are being raised on the government’s latest capital outflow controls, and the health of the domestic economy,” said Holt.

He also said the emergence of an array of Chinese investors, institutional, state owned enterprises, developers, and privates in the global real estate markets, has undoubtedly been the largest single trend over the last decade.

“Despite the more stringently applied capital controls and a slight lull in outbound activity in 2017 over the longer term, with the opening of the capital account and internationalisation of the renminbi, Chinese capital will continue to have a significant impact in the major property markets around the world,” he added.

Findings indicate the transaction volumes of Chinese investments evidently depict the cross-border investment narrative in China, where cross-border activity has increased by 26-fold over the last ten years.

In 2016 alone, Chinese capital cross-border real estate transactions amounted to US$26.6 billion, accounting for nearly 40 per cent of all Asian cross-border capital invested and also more than half of what was invested domestically in China (excluding land sales).

Meanwhile, Knight Frank Malaysia, Capital Markets Executive Director, Allan Sim said: “China’s outbound transaction volume is reducing in several markets, mainly due to stricter capital outflow controls.

“However, we are expecting this trend to be temporary and capital controls will loosen when the Yuan exchange rate improves and gross domestic product growth continues on a steadier path.

“Chinese investors are focusing on gateway cities due to stability and depth and key Southeast Asian hubs, especially cities on the “Road & Belt’ route including Malaysia, will continue to attract investors.”

SOURCE- BERNAMA

Alibaba’s Jack Ma heaps praise on Malaysia

Posted on : 19-07-2017 | By : sabah today | In : National Business

PETALING JAYA: Founder and executive chairman of the Alibaba Group, Jack Ma heaped praise on Malaysia recently for its speed in accomplishing its latest digital initiatives.

In an exclusive interview with Thailand’s leading English-language daily, The Nation, Ma said he was impressed by Malaysia’s strength, tenacity and speed in implementing digital projects.

“Honestly, we were shocked by Malaysia’s speed. I thought it was impossible for Malaysia but they came through,” he was quoted as saying.

Comparing the way things are done in Malaysia, Ma said Thailand needed a lot of improvement when it comes to implementing digital projects.

Ma, who is Asia’s richest person, made special mention of the personal attention by Prime Minister Najib Razak in pushing for the digital projects to be implemented, by visiting Ma at the Alibaba Group headquarters.

“The prime minister said, in three months, we will make this thing happen,” Ma said of the meeting which took place last November as part of Najib’s official trip to China.

“We thought it was almost impossible to make that happen in three months. It was a huge project, but they made it on time. They set up a great, strong team to follow up on the project.

“They opened up a customs office, inspection offices and made available the land that was required,” he told The Nation.

This is not the first time Ma had praised Malaysia for its speed in implementing the digital projects here.

On March 22, following the launch of the Digital Free Trade Zone (DFTZ), an e-hub jointly established by Alibaba Group and Malaysia Digital Economy Corp, Ma said it took only 10 minutes for him and Najib to agree on introducing the DFTZ when they met in China in November last year.

“My team and I thought, is four months possible? We have been discussing it with many European and Asean countries. But Malaysia is very business-friendly and much more efficient than I thought,” Ma was reported to have said.

Ma was also appointed as the Malaysian government’s digital economy adviser in March.

With the digital projects implemented in Malaysia, it made the country Alibaba’s first e-WTP (World Trade Platform) hub in the region.

In addition to Malaysia, Ma also cited Pakistan, the Philippines, Vietnam and Cambodia as Asian countries on his group’s special attention list to become e-WTP centres.

SOURCE:- FREE MALAYSIA TODAY