NCER (Northern Corridor Economic Region’s) : 37,000 jobs by 2025

Posted on : 18-06-2017 | By : sabah today | In : National Business

JITRA: The Northern Corridor Economic Region’s (NCER) Development Blueprint 2016-2025 expects to create more than 37,000 jobs when two growth nodes in Kedah are completed.

Its chief executive officer Datuk Redza Rafiq said over the 10-year period, a total of 80 high-impact projects would be implemented in Kedah, Perlis, Penang and Perak.

“By 2025, with cumulative investments of RM146.5 billion, we believe these projects would change the economic landscape of the region especially involving technology, education and innovation,” he told Bernama after the ‘Kembara Kasih Ramadan’ 2017 event.

Also present were Bukit Kayu Hitam state legislative assembly member, Datuk Ahmad Zaini Japar and 80 residents of Kampung Chegar, Tunjang, here last night.

He said the two growth nodes identified in Kedah under the blueprint were the Kedah Science and Technology Park (KSTP) and Kedah Rubber City (KRC).

Under KSTP, two components have been planned – Global Research Centre and Modern Industrial Park.

“Phase 1A of KSTP is ongoing and is entering phase 1B soon. When completed, the KSTP is expected to create 23,444 job opportunities with economic impact of up to RM72.7 billion by 2030,” he said, adding the KRC would create 14, 471 jobs and implement public infrastructure developments.

“The KRC project is still at the land ownership stage, however, when implemented it would generate RM14.7 billion through rubber products and innovative green technology,” he said.

Meanwhile, at the event some 52 residents received contributions comprising daily necessities for use during Ramadan and Hari Raya Aidilfitri.

SOURCE– BERNAMA

Hap Seng offers aggressive sales package for Kingfisher Inanam

Posted on : 15-06-2017 | By : sabah today | In : Local

Hap Seng is giving buyers and public an irresistible offer for Kingfisher Inanam. Hap Seng, under its slogan, “Your Sabah Brand” continues to uphold its pride in driving and delivering excellence in their wide range of products and services.
On Saturday, June 17, Hap Seng will be unveiling their Kingfisher Inanam’s Entrance Statement. Hap Seng has always been committed to bring out the best in building industry, from quality, workmanship concept and affordability to ensure customer satisfaction. This could only be achieved by the close and diligent collaboration of Hap Seng’s project team with our consultants applied the best practices in their respective professions.

Deputy General Manager of Sales and Marketing (Sabah), Caroline Yong said: “We are offering an unbeatable and unimaginable offer this Saturday. We are giving out a 10% rebate for your down payment. In other words, all you need to do is pay RM1,000 (as down payment) and sign the S&P. The RM1,000 is actually equivalent to 10%”.

Caroline commented that the Group aims to help people of all walks of life to purchase a unit, either for investment purposes or for their own stay. She also added that the loan legal fees will be absorbed by the Group if the bank approves one’s loan within a month of signing the S&P.

Sitting on a solid, cut ground 4meters above road level, Kingfisher Inanam incorporates the seismic designs. When it comes to safety and security, Kingfisher Inanam offers 3 tiers of security system providing residents with a safe and sound environment as well as a piece of mind. Hap Seng has also opted to fence up the compound with anti-climb fencing. All these are to provide buyers as much convenience and ease, a resort like lifestyle inspired by wellness and nature.

Sales Packages
- RM 1,000.00 for booking and proceed to sign SPA
- 100% financing provided by Hap Seng Credit (applicable only for Hap Seng Properties’ projects)
- Flexible instalment plan with 0% interest
- Entitled for a lucky draw pick in winning a brand new Mercedes Benz CLA 200

SOURCE:- PROPERTYHUNTER

MTW (Mini Thailand Week 2017) eyes four-fold jump in business matching deals

Posted on : 15-06-2017 | By : sabah today | In : National Business

KUALA LUMPUR– Mini Thailand Week 2017 (MTW 2017), a Thai lifestyle and culture showcase slated for July 6-9 in Petaling Jaya, expects to generate 140 business matching transactions, a four-fold increase from 30 transactions recorded last year.

Minister Counsellor (Commercial) of the Royal Thai Embassy in Kuala Lumpur, Patcha Wutipan, said this year’s event would see 28 participating companies, and each company had been urged to secure five business matching transactions during the four-day exhibition.

“We have screened many Thai small and medium enterprises that wish to exhibit, and selected 21 companies with products that have potential and reached certain standards required such food and beverage (F&B)…they should have halal certification or else it will take more time to establish business here.

“We also have booths for seven Malaysian importers of Thai’s products,” she told Bernama.

Patcha said MTW 2017 had also targeted to attract at least 25,000 visitors compared to 20,000 last year.

Organised by the Department of International Trade Promotion, Ministry of Commerce, Thailand, Patcha said the exhibition aimed to promote greater and closer trade relationship with Malaysia, and furthermore, this year’s event coincided with the 60th year of diplomatic relationship between the two countries.

The tenth edition of the annual trade showcase at 1Utama Shopping Complex in Petaling Jaya will focus on Thai premier lifestyle products including healthcare, household, F&B, garment, and agricultural products.

Among the key exhibitors, KPN Material Co Ltd, will highlight its herbal hair care, natural anti-aging and spa products under ‘Magic Root’ and ‘Lamone’ brand names, while BangkokTip O-Sod Co Ltd will promote its herbal products under the ‘BangkokTipOsod’ brand name.

Patcha added that besides the product exhibition and sampling, the event would also feature activities such as art workshop by Thai artist, Tanupon En-On and Thai cultural performance.

SOURCE– BERNAMA

National policy on Industry 4.0 to be tabled to Cabinet in 4Q

Posted on : 15-06-2017 | By : sabah today | In : National Business

KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) is leading a coordinated effort in the drafting of a National Policy on the Industry 4.0, with the target of tabling it to the Cabinet in the fourth quarter (Q4) of this year.

Its Minister Datuk Seri Mustapa Mohamed said the joint paper would involve both the public and private sectors.

“The Industry 4.0 is already happening in Malaysia. We are now coordinating a robust programme involving many parts of the government.

“The idea is to work together, not in silos, and the joint paper will be tabled to the Cabinet in Q4,” he told a press conference after launching the one-day Industry 4.0 Seminar for government officials here today. It was attended by 400 government officials from across the country.

“We believe it is important to expose government officials to the subject, as it has implications on our competitiveness and the future of our industries,” said Mustapa.

MITI’s programme today was also attended by 250 small and medium entrepreneurs (SMEs) to increase their awareness of the Industry 4.0.  Mustapa said the SMEs are an integral component of the Malaysian economy, contributing more than 30 per cent to the overall gross domestic product (GDP) and employing close to 60 per cent of the total labour workforce in the country.

However, he noted that despite their importance, exports and productivity of SMEs had yet to rise significantly.

“Malaysian enterprises, especially SMEs, must be aware that they need to adapt to changes brought about by the fourth industrial revolution, and explore practical methods to remain relevant in the global value chain,” he said, adding, Industry 4.0 promises an exponential increase in productivity and efficiency.

Mustapa said the government would continue to engage with stakeholders through a series of workshops and seminars to raise awareness of Industry 4.0 in the country and the federal government had also funded the opening of a training centre for it in Penang.

He said the Malaysian Industrial Development Authority (MIDA) would also be completing the “MIDA’s Future of Manufacturing” study by the third quarter of this year.

SOURCE— BERNAMA

MATRADE urges shift towards ethical fashion

Posted on : 15-06-2017 | By : sabah today | In : National Business

KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) has urged  local designers and manufacturers to shift to ethical fashion to cater to growing global demand in the trillion-dollar industry.

Lifestyle director Abu Bakar Yusof said the global market for ethical fashion had quadrupled over the last four years.

“For example, the ethical fashion industry in the United Kingdom increased 29 per cent to RM9.76 billion (1.8 billion British pounds) in 2016,” he told a media briefing on the ethical fashion industry yesterday.

Ethical fashion encompasses an approach to the design, sourcing and manufacture of clothing and accessories such as shoes, handbags and handicraft that maximises benefits to the community, while minimising impact on the environment.

Abu Bakar said currently, there was a shift to demand for ethical fashion in developed countries, especially in Europe, Australia,  North America and Japan.

“In China, more brands are actively looking at production facilities that meet ethical standards of materials, labour practices and working environment,” he added.

He said consumer behaviour was leaning towards ethical fashion as it not only had a positive impact on local society, but also brought value to the international market.

“Consumers are willing to pay a higher price for such premium products,” he added.

Abu Bakar said fashion that is unable to comply with ethical fashion would no longer be able to compete.

Meanwhile, Earth Heir Partners Sdn Bhd managing partner Sasibai Kimis said ethical fashion had entered the mainstream industry internationally.

“Paris, London, Berlin and New York have introduced fashion shows dedicated solely to ethical and sustainable fashion,” she said.

However, she said as the industry was still in its infancy, especially among Southeast Asian countries, including Malaysia,  awareness of it remained low.

Sasibai, who is also the country coordinator of Fashion Revolution Malaysia said under the global movement, less than 20 local fashion companies had adopted ethical standards, as of today.

“If about 10 per cent of the local industry players shift towards ethical fashion, they could make a difference,” she added.

SOURCE— BERNAMA

Malaysia ranks 8th on GII (Global Innovation Index) 2017 report

Posted on : 15-06-2017 | By : sabah today | In : National Business

KUALA LUMPUR: Malaysia is ranked 8th in Asia and 37th worldwide in the Global Innovation Index (GII) 2017 report released by Cornell University, INSEAD, and the World Intellectual Property Organisation on Thursday.

The report also said Malaysia was among the top 10 economies in Asia, behind Singapore, South Korea, Japan, Hong Kong, New Zealand and Australia, and that the country was among the middle-income economies that were the closest to the top 25 this year.

Last year, Malaysia was in the 35th position in the GII report, which measured the innovation performance of 127 economies around the world.

The inclusion of the Russian Federation and Argentina in the middle-income group had led to the downward movement of Mexico, Malaysia, Turkey, and Thailand – economies that have been in the middle-income top 10 since the innovation quality metric was introduced.
The report said Malaysia also had the best cluster development and information and communications technology use, and had maintained its strengths in high-technology imports and exports and creative goods exports, among other indicators.

However, it also said that research and development, as well as resident patenting levels in newly emerging Asian economies such as Malaysia, the Philippines, and Vietnam, was still low.

SOURCE- BERNAMA

Long-term economic growth, exports boost requires vigilance – Najib

Posted on : 15-06-2017 | By : sabah today | In : National Business

PUTRAJAYA– The government needs to be vigilant and continue with efforts at creating layers of buffers, promote long-term economic growth and boost exports, amid a narrowing current account surplus, said Prime Minister Datuk Seri Najib Tun Razak.

Also the Finance Minister, he said the government needs to also be mindful that Malaysia is operating in a competitive global environment, particularly with emerging economies that are rapidly catching up.

“We need to engage in higher value-added activities to retain our comparative advantage and remain ahead of the competition. Due to these strengths, as well as the improving global outlook, our economy is on track to register higher growth of between 4.3 per cent to 4.8 per cent this year.
“Today, our economy is well-diversified in terms of sources of growth and revenue owing to the economic, financial and fiscal reforms the government has undertaken. These have left us well placed to weather both global and domestic economic challenges,” Najib said in his keynote address at the Budget 2018 Consultative Council Meeting, themed, “Negaraku Shaping the Future”, here today.

The Budget 2018 is scheduled to be tabled on Oct 27 in Parliament.

Also present was Second Finance Minister Datuk Seri Johari Abdul Ghani, Treasury Secretary-General Tan Sri Mohd Irwan Serigar Abdullah, Bank Negara Malaysia Governor Datuk Seri Muhammad Ibrahim, Security Commission Chairman Tan Sri Ranjit Ajit Singh and Public Services Department Director General, Datuk Seri Zainal Rahim Seman.

For the first quarter of 2017, the Malaysian economy grew by 5.6 per cent with Foreign Direct Investments (FDIs) rising to RM17 billion during the first quarter of 2017, and mainly in the services, mining and manufacturing sectors.

According to Najib, the competitive global environment can be met by developing a strong entrepreneurial spirit infused with the culture of innovation and creativity, as well as the need to reconfigure to meet the demand of time in which the digital economy plays a vital role.

“In this regard, we must embrace technology and digitalisation in increasing the productivity of our businesses. Digital Malaysia has been given a high priority in the government’s agenda.

We must intensify innovation as it is the differentiating factor driving profitability and long-term growth,” he said.

The Prime Minister regarded advancements in technology, business processes and ideas which come from innovation as being able to enhance Malaysia’s competitiveness, productivity and economic growth, while at the same time, nurture talent to raise productivity.

He said the government also launched the Malaysia Productivity Blueprint, which will enable Malaysia to embrace the Fourth Industrial Revolution, whereby universities and higher learning institutions are challenged to produce human capital with new sets of skills and jobs which are not yet in existence.

“Entrepreneurship is a main driver of economic growth as it creates wealth, enhances innovation and technology, as well as reduce poverty. It is through entrepreneurship that every great business was started and important innovations entered the market, creating new products or production processes, resulting in greater efficiency,” he added.

Najib said SME Corp and Malaysia Digital Economy Corporation (MDEC) will identify 1,500 small and medium enterprises (SMEs) to participate in the world’s first Digital Free Trade Zone (DFTZ) which starts operations this October.

The DFTZ is expected to double the country’s e-Commerce growth from 10.8 per cent to 20.8 per cent by 2020 and create 60,000 jobs by 2025, he added.

Apart from developing and diversifying the economy, Najib said the government is always very attentive to problems faced by the people such as the rising cost of living and mismatches in the property market, while continuing its role in creating an environment that increases affordability as well as accessibility of quality homes for the low and middle income groups.

SOURCE– BERNAMA

Malaysia solid distributive trade signals stronger domestic spending

Posted on : 14-06-2017 | By : sabah today | In : National Business

KUALA LUMPUR: Malaysia distributive trade reached a new record high in April, with analysts believing that this continuous solid performance of distributive trade signals stronger domestic spending.

MIDF Research, the research arm of MIDF Amanah Investment Bank Bhd, in its economic review, opined that the continous solid performance of distributive trade in April signals stronger domestic spending is in play and hence, would drive Malaysia’s economy into better position in 2017 compared to last year.

“Strengthening domestic spending coupled with steady wage growth and stellar external sector performance, we opine Malaysian economy will be able to expand 4.9 per cent in 2017,” it said.

The research team also forecast private consumption and services sector to grow at 6.3 and 5.3 per cent respectively for 2017.

Meanwhile, MIDF Research noted that distributive trade and retail trade expanded by 9.6 per cent year-on-year (y-o-y) and 12.9 per cent y-o-y respectively in April 2017, the highest since May 2014.

It added, as for other components of distributive trade, wholesale trade and motor vehicles increased by 8.6 per cent y-o-y and 4 per cent yo-y respectively, significantly better than previous year average.

“In the run-up to Ramadhan and Eid, we believe consumers decided to shop for the preparation of the upcoming festive events. Besides, better performance in our economic activities and stable job market could be the reasons supporting the surge in the distributive trade.

“Continous solid performance of distributive trade reflects robust domestic spending in our economy,” it said.

It also noted that motor vehicles, wholesale trade and retail trade cover about 14.6 and 27 per cent collectively of Malaysia’s services sector and total GDP in the first quarter this year.

“Solid performance of distributive trade in April provides a good signal for better performances of private consumption and services sector in the second quarter 2017.

“In addition, we expect distributive trade will continue to record solid growth in May and June as consumers will most likely to increase their spending on food, clothing and apparel for Ramadhan and Eid celebration,” it commented.

SOURCE: The Borneo Post (Sabah)

Alibaba’s Tmal World targeting South-East Asia mart

Posted on : 14-06-2017 | By : sabah today | In : International Business

HANGZHOU: Alibaba Group’s online shopping platform for China’s merchandise, Tmall World, is targeting the sizeable 500 million population from South-East Asia.

Director Tmall World, Elaine Hu, said in South-East Asia, Malaysia is experiencing rapid growth in terms of new users due to good product offerings, promotions and logistics.

“We are focussing on localised products such as fashion and accessories which are popular in Malaysia,” she told the Malaysian media on a site visit to Alibaba’s Xixi Campus yesterday.

Hu said efforts had been made to improve on delivery time for Malaysian consumers with a 20 per cent reduction in delivery time since last year.

“However, we discovered that delivery is not the only issue, as pricing is also another important factor,” she said.

Tmall World, Hu said, worked with local partners in Malaysia to handle last-mile delivery and based on feedback, consumers were satisfied with the logistics services.

“Traditional dresses and decorations are also popular in Malaysia,” she said.

To attract the large Malaysian consumers, she said, products offerings were also extended to discounts on logistics and products.

Along with the mid-year mega sale from June 18 to June 20, 2017, she said, Tmall World, with other Alibaba’s online shopping channels, were also rolling out new sea freight option for Malaysian market with lower courier fee ranging from RM6 per kilogram (kg), excluding the six per cent Goods and Services Tax charges.

“This offer is applicable for individual consignments of up to 100 kgs each or consolidated consignments of up to 200 kgs each,” she said.

SOURCE: Bernama

Bank Mandiri (Indonesia’s leading commercial bank) to open first branch in Malaysia

Posted on : 14-06-2017 | By : sabah today | In : International Business

JAKARTA: Bank Mandiri, Indonesia’s leading commercial bank, will be opening its first branch in Malaysia within the next few months.

According to a report in Indonesian newspaper, Koran Tempo, the Malaysian government, via Bank Negara Malaysia, had given the green light to Bank Mandiri’s ‘Qualified Asean Bank’ (QAB) status application recently.

The newspaper quoted Bank Mandiri’s chief executive officer, Kartika Wirjoatmodjo, as saying that the bank is currently finalising its proposals and that it was expecting to receive its operating licence by August this year.

He said Bank Mandiri had allocated RM300 million to fund the opening of its branch in Malaysia, adding that the bank would be injecting its capital in three stages, with an initial commitment of around RM100 million or between US$50 million and US$60 million (US$1=RM4.26).

Bank Mandiri was established by the Indonesian Ministry of Finance in 1998, in which the Indonesian government retained a 60 per cent stake, while the balance are owned by local and foreign shareholders.

SOURCE: The Borneo Post (Sabah)

Economic pundits forecast 2.9 pct global economic growth in 2017

Posted on : 14-06-2017 | By : sabah today | In : International Business

NEW YORK: Economists at the New York-based Conference Board, a global, independent business membership and research association, forecast that the current cyclical upswing and recovery in productivity will raise global growth to 2.9 per cent in 2017, up from 2.5 per cent last year.

In its latest Global Economic Outlook report released recently, the Conference Board, which won the US Consensus Economics 2016 Forecast Accuracy Award, said that the Leading Economic Index for the global economy showed a widespread strengthening of leading indicators around the world, especially in emerging markets and, particularly, in India and China.

While most of 2015 and 2016 showed a weakening in business cycle dynamics with the recession risk far greater during the late 2015 and early 2016, it said the recent turnaround reflected a confluence of positive forces.

“Strong consumer and business confidence, strengthening stock markets, a turnaround in the global industrial cycle, and a recent rise in the rate of global trade all point to strengthening cycle dynamics,” explained Bart van Ark, chief economist at the Conference Board.

But van Ark also warned that recovery supported by a pro-cyclical improvement in productivity, could die out if businesses did not accelerate investment.

He pointed out that medium term challenges manifested in the slowing labour supply and the sluggish pace at which new technologies were translating themselves into a higher growth potential for the global economy.

The latest estimates of monthly leading economic indicators and quarterly gross domestic product (GDP) growth indicated that rising confidence among business and consumers in recent quarters was finally translating into some positive impact on the “real economy”, van Ark noted.

He envisaged the mature economies, mainly in the west and Japan, would show a “small improvement” rising from 2.0 per cent in 2016 to 2.1 per cent in 2017, but cautioned that the cyclical dynamics which had helped the Euro Area outlook, had weakened in the UK even before last year’s disruptive Brexit vote.

The UK growth is projected at 1.5 per cent for 2017 but the present economic uncertainty and Brexit strategy point to increasing risks in that outlook.

Among emerging economies, of special interest was the economic performance of India and China, with India’s economy rebounding well after the demonetisation in late 2016 while China beat expectations with a fairly strong first quarter, benefiting from the strengthening of the global industrial cycle.

However, future growth for China remained at risk as fiscal and monetary policy becomes less supportive, which in turn may contribute to a slowing environment for business investment and real estate,” van Ark observed.

The Conference Board lowered its projections for the Middle East and Turkey which face increased political uncertainties, enhancing the vulnerability of some of the region’s major economies, including Saudi Arabia and Egypt.

The Conference Board’s economists also touched on major issues of global interest.

SOURCE: The Borneo Post (Sabah)

Maybank Islamic named ‘Islamic Bank of the Year 2017′

Posted on : 13-06-2017 | By : sabah today | In : National Business

KUALA LUMPUR : Malaysia’s largest Islamic bank in terms of assets, Maybank Islamic Bhd, has emerged as the Asia-Pacific winner of The Banker’s Islamic Bank of the Year in 2017.

In a statement today, Maybank Islamic said the recognition came following what London-based publication The Banker described as “a set of impressive performance indicators” in 2016 coupled with a steady regional growth story.

The Banker, a financial publication, acknowledged Maybank Islamic’s leadership in Malaysia’s Islamic finance market when it claims top position among Shariah-compliant financiers in the country.

It noted that by total assets, total financing and total funding, including deposits and investment accounts, Maybank Islamic’s dominance has translated into a strong set of financial results.

“Tier 1 capital and total Shariah-compliant assets also enjoyed notable growth, climbing by 12% and 16% respectively. Maybank Islamic’s return on equity for the year was 15.4%, while its cost-to-income ratio was a respectable 36% and non-performing financing were just 0.8%,” it said.

For the financial year ended Dec 31, 2016, Maybank Islamic’s net profit rose 10% to RM1.34 billion and total assets grew 16% to RM181.8 billion.

The Banker said Maybank Islamic’s steady growth pace in Singapore and Indonesia also contributed to its recognition as the best in Asia Pacific.

The magazine said that in Singapore, there has been a 73% growth in total Shariah assets between 2010 and 2016, with total financing growth of 61% year on year last year; while in Indonesia, financing and deposit grew by 61% and 71% respectively in 2016, as profit before tax jumped by 62% over the same period.

“Though the collective contributions of these two markets to Maybank Islamic’s total assets [are] still small, at just 6.4%, their growth trajectory remains overwhelmingly positive,” said The Banker.

Maybank Islamic chief executive officer Datuk Mohamed Rafique Merican credited the achievements to the bank’s employees and sound risk management practices across the Malayan Banking Group.

“We are honoured to be recognised as the Islamic Bank of the Year not just for Malaysia but also in Asia Pacific. This is a testimonial of our commitment and capability to effectively leverage on our position as the leading Islamic bank in the region to deliver value to our customers and communities across the region and beyond.

“Going forward, we intend to further enhance our global brand visibility, while [continuing] to deepen our existing regional presence, and taking a more leading role in promoting Islamic Social Finance via our Zakat and Waqf initiatives, in line with Maybank Group’s mission of humanising financial services,” he said.

SOURCE:- THEEDGEMARKETS

Malaysia to have Tmall World (Alibaba Group)

Posted on : 13-06-2017 | By : sabah today | In : International Business

Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) on Monday said it is launching new sales channels in Singapore, Malaysia, Hong Kong and Taiwan as China’s deep-pocketed e-commerce firms vie for new users in the region.

The new service, Tmall World, will allow overseas Chinese users to buy goods from Alibaba’s Tmall brand-to-consumer retail site, the company said in a statement.

“Alibaba will provide end-to-end solutions including logistics, payment, and localization support catering to each local market’s needs,” the statement said.

The firm plans on extending the Tmall World network to other countries in the future.

Alibaba has invested heavily in Southeast Asia, seeking to meet lofty user acquisition goals as the Chinese retail market shows signs of maturing.

Alibaba chairman Jack Ma told investors on Friday the company is aiming to have 2 billion customers within 15 years, with overseas customers accounting for 1.2 billion of those users.

Alibaba had roughly 450 million active annual buyers on its China marketplaces in the year ended March 31.

In 2016 it agreed to invest $1 billion in Southeast Asian retailer Lazada Group, and launching a service that allows local users to purchase a selection of Tmall goods.

The latest sales channels take aim at the 100 million Chinese citizens living overseas, and users must have an active Chinese payment method to purchase goods.

It comes as Alibaba payment affiliate Ant Financial is also expanding heavily in the region through investments and joint ventures.

In the past year the finance firm has sealed deals in Thailand, Indonesia, South Korea, Hong Kong and India, as well as rebranding Lazada Group’s payment arm Hello Pay under Ant Financial’s own Alipay brand.

It also comes as rival Chinese e-commerce firm JD.com Inc (JD.O) is expanding operations in Southeast Asia.

On Friday JD.com Chief Executive Richard Liu told Reuters that the firm plans to launch services in Thailand by the end of the year, building on existing activities in Indonesia.

SOURCE:- REUTERS

Malaysia shared TN50 on labour at international labour conference

Posted on : 13-06-2017 | By : sabah today | In : National

PUTRAJAYA: Malaysia has shared its 2050 National Transformation (TN50) aspiration which offers opportunities to build decent work and stronger labour rights within a universal paradigm of sustainable development at the recent International Labour Organisation (ILO) related conference in Geneva, Switzerland.

Human Resources Ministry, in a statement, today said that Malaysia made an intervention during the Asia Pacific Group of the ILO (ASPAG) meeting, making reference to TN50.

The ASPAG met on the sidelines of the 106th session of International Labour Conference (ILC) to discuss on Decent Work for Sustainable Development.

“TN50 has been derived from the basic essence of the United Nations 2030 Sustainable Development Goal, which is poised to transform Malaysia’s economy and enhance the citizen’s well-being regardless of race, colour and creed,” said the ministry’s statement.

Human Resources Minister Datuk Seri Richard Riot, when delivering a statement at the plenary of 106th session of ILC, shared Malaysia’s vision on green technology that accelerates the national economy and promotes sustainable development through the National Green Technology Policy.

The ministry said Riot touched on the Green Policy that had been enshrined in the Eleventh Malaysia Plan, 2016-2020, highlighting the notable developments that had taken place between Malaysia and ILO on issues of green job mapping, construction of database, capacity development and developing the occupational standards on green skills.

The ILC conference from June 11 to 13 themed, “Work In A Changing Climate: The Green Initiative”, brought over 4,000 delegates from around the globe to discuss the most pressing labour related issues facing the world today.

SOURCE: BERNAMA

Malaysia, Kazakhstan ink MoU cooperation in green technology

Posted on : 12-06-2017 | By : sabah today | In : International Business

ASTANA, KAZAKHSTAN: Malaysia and Kazakhstan today signed a memorandum of understanding (MoU) to increase bilateral trade and cooperation in green technology and energy.

The MoU will see both countries identifying ways of implementing programmes or projects in areas of green technology, including renewable energy, green buildings, smart cities and carbon emission mitigation.

The MoU was signed by Malaysia’s Energy, Green Technology and Water Minister Datuk Seri Maximus Johnity Ongkili and Kazakhstan’s Vice-Minister of Energy, Gani Sadibekov at the Malaysia Energy Forum held here today, in conjunction with Astana Expo 2017.

The energy, green technology and water ministry in a statement indicated that Malaysia aimed to achieve RM1 billion in trade, investments and cooperation through its participation at Astana Expo 2017 from June 10 until Sept 10.

“The MoU will certainly help to achieve this target,” said the statement.

In 2015, the volume of trade between Malaysia and Kazakhstan was about RM429.5 million (USD100 million).

However, the figure dropped slightly to RM360.7 million (USD84 million) last year as a result of foreign exchange fluctuations.

Themed, ‘Energy of the Future’, Astana Expo 2017 is an internationally specialised exhibition aimed to inspire global debate between countries, non-governmental organisations, companies and the public regarding the decisive impact that energy management has on the lives of the people and planet.

SOURCE—BERNAMA