https://www.scmp.com/rss/323002/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com From Guoco Midtown and Shaw Towers to the new residential developments at Tan Quee Lan Street and Middle Road, the Beach Road-Rochor Road area is set for a massive renewal. For the past four decades, those driving along Nicoll Highway from Singapore’s east coast to the central business district have been treated to the landmarks defining Beach Road’s skyline: first, the Golden Mile Complex and Tower, a relic of the 1970s; followed by the 1990s modernist architecture of The Concourse, designed by... https://www.scmp.com/property/international/article/3009056/new-developments-set-attract-upscale-tenants-along?utm_source=rss_feed https://www.scmp.com/property/international/article/3009056/new-developments-set-attract-upscale-tenants-along?utm_source=rss_feed Mon, 06 May 2019 11:00:09 +0000 By Tan Xue Ying The Malaysian Photovoltaic Industry Association (MPIA) is urging the newly elected Malaysian government to expedite rooftop solar energy systems because of their potential energy generating capacity, and at the same time to address “serious shortcomings” within the business that were previously swept under the carpet, particularly those involving so-called “fast track” large-scale solar contracts that were not competitively tendered. These relate especially to the development of... https://www.scmp.com/news/asia/southeast-asia/article/2149147/malaysian-government-urged-review-fast-track-large-scale?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2149147/malaysian-government-urged-review-fast-track-large-scale?utm_source=rss_feed Mon, 04 Jun 2018 06:30:45 +0000 By Chester Tay Malaysia’s Minister of Communications and Multimedia Gobind Singh Deo said he will be meeting local telecommunication companies in the next two weeks to discuss the Ministry’s call to double the internet speed in the country at half the price. Gobind was asked whether halving the internet subscription prices would negatively affect the telco industry, and he said the Ministry’s heads of department have come up with proposals which he thinks are “workable”. “We are looking at two... https://www.scmp.com/news/asia/southeast-asia/article/2148610/malaysian-minister-meet-telecommunication-companies-next?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2148610/malaysian-minister-meet-telecommunication-companies-next?utm_source=rss_feed Thu, 31 May 2018 05:55:42 +0000 By Kang Siew Li and Wong Ee Lin Counterfeiting has reached an alarming level, causing huge revenue losses to governments across Southeast Asia, says Piotr Stryszowski, senior economist of public governance and territorial development directorate at the Organisation for Economic Co-operation and Development (OECD). Stryszowski, who has been following this issue at the grouping of rich developed nations for some 10 years, observed that the scale of this problem has been growing in the region. And... https://www.scmp.com/news/asia/southeast-asia/article/2139948/sales-fake-goods-southeast-asia-hits-alarming-level?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2139948/sales-fake-goods-southeast-asia-hits-alarming-level?utm_source=rss_feed Mon, 02 Apr 2018 08:18:12 +0000 By Chester Tay Three opposition members of parliament based in the state of Perak have been suspended for 10 days for failing to apologise to Pandikar Amin Mulia after demanding the Speaker’s resignation. Deputy Speaker Datuk Ronald Kiandee handed down the suspension on Datuk Ngeh Koo Ham (DAP-Beruas), Nga Kor Ming (DAP-Taiping) and V. Sivakumar (DAP-Batu Gajah) in the Dewan Rakyat (lower house of Parliament). Ronald said the three MPs have insulted the speaker, and by extension the lower house... https://www.scmp.com/news/asia/southeast-asia/article/2139129/three-malaysian-mps-suspended-after-refusing-apologise?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2139129/three-malaysian-mps-suspended-after-refusing-apologise?utm_source=rss_feed Tue, 27 Mar 2018 08:47:55 +0000 By Khairie Hisyam Aliman The Malaysian medical tourism industry’s revenue broke through the RM1 billion (US$255.4) mark for the first time in 2016. By 2020, the national target is to double that. It may seem ambitious, but the Malaysian Healthcare Travel Council (MHTC) is confident of achieving that figure. The market in its sights? China. After China scrapped its one-child policy in October 2015, the council estimates there are around 90 million couples in China looking to conceive a second... https://www.scmp.com/news/asia/southeast-asia/article/2137865/why-malaysia-wants-help-chinese-couples-have-babies?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2137865/why-malaysia-wants-help-chinese-couples-have-babies?utm_source=rss_feed Mon, 19 Mar 2018 08:08:17 +0000 By Syahirah Syed Jaafar With the emergence of financial technology and digitalisation, banks may trim their workforce in certain areas of their operations while increasing staff in other key focus areas, said the Association of Banks in Malaysia (ABM). Commenting on recent news reports pertaining to voluntary separation schemes by banks, ABM said these initiatives are part of the banks’ efforts to realign their internal strategies in relation to manpower requirements for better... https://www.scmp.com/business/banking-finance/article/2128501/digitalisation-creating-new-job-opportunities-malaysian?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2128501/digitalisation-creating-new-job-opportunities-malaysian?utm_source=rss_feed Tue, 16 Jan 2018 09:15:30 +0000 By Adela Megan Willy Malaysian parents ranked fourth in the world for financially supporting their children into adulthood, after the United Arab Emirates, Indonesia and Mexico, according to HSBC Holdings plc’s latest survey. “The Power of Protection: Facing the Future” study found more than half or 57 per cent of those surveyed with children over 18, are still providing regular financial support to them. “This is despite most of the parents believe their grown-up children should stand on their... https://www.scmp.com/business/money/wealth/article/2125109/malaysia-has-fourth-highest-number-parents-supporting-adult?utm_source=rss_feed https://www.scmp.com/business/money/wealth/article/2125109/malaysia-has-fourth-highest-number-parents-supporting-adult?utm_source=rss_feed Wed, 20 Dec 2017 09:39:54 +0000 By Syahirah Syed Jaafar Almost half (49 per cent) of Malaysians are not confident about having enough money to live till the age of 80, according to the 2017 Prudential Relationship Index (PRI) survey. The second edition of the index by Prudential Assurance Malaysia Bhd found that retirement savings is a top financial priority for the majority of Malaysians. More than half (59 per cent) reported they are concerned with whether they will have sufficient funds for retirement. The PRI is an... https://www.scmp.com/news/asia/southeast-asia/article/2124326/almost-half-malaysians-worried-over-retirement-savings-says?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2124326/almost-half-malaysians-worried-over-retirement-savings-says?utm_source=rss_feed Thu, 14 Dec 2017 08:29:05 +0000 By Emir Zainul Bank Negara Malaysia (BNM) has warned that there are persons or companies conducting illegal money lending activities using fake money lending licences, purportedly issued by the central bank. “These fraudsters aim to deceive the public to believe that they are licensed money lenders and to lure the public to make initial payments for various purposes related to the loan, such as administrative expenses, stamp duty and legal fees,” BNM said in a statement. BNM clarified it does... https://www.scmp.com/news/asia/southeast-asia/article/2123344/malaysias-national-bank-warns-fraudsters-using-fake-money?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2123344/malaysias-national-bank-warns-fraudsters-using-fake-money?utm_source=rss_feed Thu, 07 Dec 2017 09:15:38 +0000 By Sangeetha Amarthalingam PayPal, Apple Pay, Samsung Pay, Alipay and other leading digital wallets have become increasingly popular, thanks to advancements of technology. According to a January 2017 report entitled “Mobile Wallet Market” by Zion Market Research, the global mobile wallet market was valued at US$594 billion in 2016 and is predicted to reach US$3.14 trillion by 2022, growing at a compound annual growth rate of 32 per cent between 2017 and 2022. Malaysia, on its part, is embracing... https://www.scmp.com/business/banking-finance/article/2119654/plastic-cards-not-going-away-malaysia-anytime-soon?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2119654/plastic-cards-not-going-away-malaysia-anytime-soon?utm_source=rss_feed Mon, 13 Nov 2017 07:45:15 +0000 Ride-hailing firm Grab is calling for the Malaysian government to offer subsidies for trips to and from designated transit stations and public amenities, including trips to government hospitals, sports hubs, libraries and Urban Transformation Centre venues in Budget 2018, to be announced on Friday. “This will help increase mobility and support public transportation with first mile and last mile gaps, especially in underserved populations. Eventually, together with the government, we aim to... https://www.scmp.com/business/companies/article/2116960/grab-malaysia-wants-subsidies-trips-and-public-amenities?utm_source=rss_feed https://www.scmp.com/business/companies/article/2116960/grab-malaysia-wants-subsidies-trips-and-public-amenities?utm_source=rss_feed Wed, 25 Oct 2017 09:30:15 +0000 By Sangeetha Amarthalingam Escaping the middle income trap would continue to be a challenge for Malaysia, S&P Global Ratings said, adding that the modest income levels and vulnerability to global economic conditions constrain the country’s economic resilience. “Several factors temper these weaknesses: an open, diversified, and competitive economy with a moderately flexible labour market, reasonably developed infrastructure and a high savings rate,” the international rating agency said in its... https://www.scmp.com/news/asia/southeast-asia/article/2116719/escaping-middle-income-trap-continuous-challenge-malaysia?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2116719/escaping-middle-income-trap-continuous-challenge-malaysia?utm_source=rss_feed Tue, 24 Oct 2017 06:00:30 +0000 By Sulhi Azman Malaysia’s ministry of international trade and industry (Miti) is targeting the country’s employment rate within the digital economy space to surpass the global average by 2025. Without mentioning specific figures, Miti secretary-general Datuk Seri J Jayasiri said the growth will be spurred by continuous investment and robust development in the digital technology. “In the era of disruption, the government along with all stakeholders need to work together to design strategies and... https://www.scmp.com/tech/article/2113846/malaysia-expects-its-digital-economy-employment-surpass-global-average-2025?utm_source=rss_feed https://www.scmp.com/tech/article/2113846/malaysia-expects-its-digital-economy-employment-surpass-global-average-2025?utm_source=rss_feed Tue, 03 Oct 2017 09:45:15 +0000 By Neily Syafiqah Eusoff Malaysia’s biodegradable packaging industry is expected to see further growth as countries around the world and Malaysia boost efforts to reduce the use of plastic and polystyrene materials, said Malaysian Bioeconomy Development Corp (Bioeconomy Corp). Globally, the eco-friendly packaging market is poised to reach US$177.7 billion next year, up 63.3 per cent from just US$108.8 billion in 2011, said Bioeconomy Corp chief executive officer Dr Mohd Shuhaizam Mohd Zain,... https://www.scmp.com/news/asia/southeast-asia/article/2113655/more-growth-seen-malaysias-biodegradable-packaging-industry?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2113655/more-growth-seen-malaysias-biodegradable-packaging-industry?utm_source=rss_feed Mon, 02 Oct 2017 05:30:15 +0000 By Adam Aziz Bank Negara Malaysia (BNM) will issue the necessary guidelines on cryptocurrencies by the end of the year, said the central bank’s governor Tan Sri Muhammad Ibrahim. Speaking on the sidelines of the Global Symposium on Development Financial Institutions, Muhammad said BNM seeks to provide “clear guidelines” to those seeking to participate in the digital currency. “We hope that by year end, BNM will be able to come out with some guidelines on cryptocurrency, particularly those... https://www.scmp.com/business/banking-finance/article/2111952/cryptocurrency-guidelines-will-be-out-end-year-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2111952/cryptocurrency-guidelines-will-be-out-end-year-says?utm_source=rss_feed Wed, 20 Sep 2017 03:11:51 +0000 By Sulhi Azman An expected rise in large infrastructure projects and affordable housing ahead of the Malaysian general election is likely to further raise the government’s already-huge contingent liabilities, said RAM Rating Services Bhd. “In the lead-up to the 14th general election (GE14), due by August 2018, construction activity is expected to remain robust [2017 forecast: 6.5 per cent; 2016 actual: 7.9 per cent],” said the rating firm. “This is chiefly due to government initiatives to roll... https://www.scmp.com/news/asia/southeast-asia/article/2108785/election-projects-may-further-inflate-malaysian-government?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2108785/election-projects-may-further-inflate-malaysian-government?utm_source=rss_feed Tue, 29 Aug 2017 08:00:56 +0000 By Syahirah Syed Jaafar Top Glove Corp Bhd, the world’s largest rubber glove manufacturer by market share, is set to start the production of its condom business next year, with an initial investment of RM30 million (US$7 million). The RM30 million will be used to build a new condom manufacturing factory on a five-acre site in Selangor, Malaysia and will see the setting up of up to 20 production lines. Top Glove executive chairman Tan Sri Lim Wee Chai said the group targets to start production of... https://www.scmp.com/business/companies/article/2099352/worlds-biggest-glove-manufacturer-kick-condom-business-next-year?utm_source=rss_feed https://www.scmp.com/business/companies/article/2099352/worlds-biggest-glove-manufacturer-kick-condom-business-next-year?utm_source=rss_feed Wed, 21 Jun 2017 07:45:15 +0000 By Tan Choe Choe Investors in emerging markets, including Malaysia, lack avenues to deploy domestic savings while facing poor risk-adjusted returns on capital market products, mainly because of higher volatility, according to McKinsey. “They (the investors) put a large part of their savings in physical assets like real estate and gold, and bank deposits. The limited investments in financial assets are mostly in government bonds, AAA-rated corporate bonds, and equities,” said the consulting firm... https://www.scmp.com/business/global-economy/article/2095238/malaysia-country-risk-creating-poor-retirees?utm_source=rss_feed https://www.scmp.com/business/global-economy/article/2095238/malaysia-country-risk-creating-poor-retirees?utm_source=rss_feed Mon, 22 May 2017 09:00:30 +0000 By Ahmad Naqib Idris While the renewable energy (RE) industry has made some great strides in recent years, oil and gas (O&G) players said the alternative energy segment is yet to pose a threat to the industry. “Looking at our data, we don’t see a scenario where RE would displace or be a threat to our business within the next 20 years. But we do view it to be a business opportunity,” Petroliam Nasional Bhd (Petronas) president and group chief executive officer (CEO) Datuk Wan Zulkiflee Wan... https://www.scmp.com/news/asia/southeast-asia/article/2093552/renewable-energy-not-yet-threat-malaysian-oil-and-gas?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2093552/renewable-energy-not-yet-threat-malaysian-oil-and-gas?utm_source=rss_feed Tue, 09 May 2017 05:15:00 +0000 By Billy Toh Malaysia’s aspiration to become a top 20 country in the world by 2050 under the 2050 National Transformation (TN50) initiative, will see a serious issue from a demographic perspective as experts pondered about a possible ugly truth for the country where the population is old, poor, sick and without children. “As it stands, there is more of us from 6 million in 1957 to 30 million now and is going to be 40 million. But we are going to be an old society. Old, poor, sick, have to work... https://www.scmp.com/news/asia/southeast-asia/article/2090798/malaysia-2050-old-poor-sick-and-without-children?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2090798/malaysia-2050-old-poor-sick-and-without-children?utm_source=rss_feed Wed, 26 Apr 2017 06:30:30 +0000 By Chester Tay The multiplier effect from China-financed infrastructure projects will help keep Malaysia clear from the kind of debt crisis faced by Sri Lanka currently. At a seminar by Singaporean research organisation Institute of Southeast Asian Studies yesterday, Affin Hwang Capital senior associate director on equity research Loong Chee Wei said as Malaysia shows improvement in its infrastructure development, the country might be able to attract more foreign direct investment (FDI), which... https://www.scmp.com/news/asia/southeast-asia/article/2081113/china-financed-projects-help-malaysia-avoid-debt-trap?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2081113/china-financed-projects-help-malaysia-avoid-debt-trap?utm_source=rss_feed Wed, 22 Mar 2017 04:48:26 +0000 Malaysian consumers continue to tighten their belts as reflected by the 0.3% year-on-year growth of retail sales in the fourth quarter of 2016 (4Q16), according to Retail Group Malaysia (RGM). The quarterly growth of retail sales decelerated for the third quarter after it hit a high of 7.5 per cent in 2Q16, based on data compiled by RGM from members of Malaysia Retailers Association (MRA). Retailers are pessimistic about the sales performance for 1Q17. “As consumer confidence remains low, they... https://www.scmp.com/news/asia/southeast-asia/article/2080429/malaysians-appetite-spending-remains-poor?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2080429/malaysians-appetite-spending-remains-poor?utm_source=rss_feed Mon, 20 Mar 2017 05:00:45 +0000 By Syahirah Syed Jaafar Malaysia has been selected as the location for the first Asia-Pacific hub by the International Organization of Securities Commissions (IOSCO) — the leading global body of capital market regulators from both developed and emerging economies that regulate over 95% of markets worldwide. The IOSCO Asia-Pacific Hub will be located at the Securities Commission Malaysia (SC) building in Kuala Lumpur. The new hub represents IOSCO’s first-ever presence outside its headquarters in... https://www.scmp.com/business/article/2079066/malaysia-selected-ioscos-first-hub-outside-spain?utm_source=rss_feed https://www.scmp.com/business/article/2079066/malaysia-selected-ioscos-first-hub-outside-spain?utm_source=rss_feed Wed, 15 Mar 2017 06:36:26 +0000 By Adam Aziz More employers will agree to the levy payment for their foreign workers under the Employer Mandatory Commitment (EMC) if the government proves to be just as committed to improving the foreign labour ecosystem, says the Federation of Malaysian Manufacturers (FMM). The key message from employers, according to a survey by FMM among its members, is that both the private and government sectors have a role to play in managing and improving the foreign workers ecosystem, said FMM president... https://www.scmp.com/news/asia/southeast-asia/article/2075760/improve-management-foreign-workers-levy-say-malaysian?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2075760/improve-management-foreign-workers-levy-say-malaysian?utm_source=rss_feed Fri, 03 Mar 2017 04:15:30 +0000 By Chester Tay Recent announcements in Malaysia of multibillion-ringgit aircraft orders and aggressive growth plans in seat capacity among four main Malaysian carriers may seem curious to some, in the face of yield and profitability pressures ahead, particularly in the second half of the year. But the industry’s view is that the longer-term passenger growth will be robust enough to fill the additional capacity coming in. “Globally, passenger traffic is expected to grow. In fact, we are expecting... https://www.scmp.com/news/asia/southeast-asia/article/2074360/why-airlines-are-still-expanding-face-glut?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2074360/why-airlines-are-still-expanding-face-glut?utm_source=rss_feed Mon, 27 Feb 2017 07:15:30 +0000 By Wong Ee Lin More than three quarters (76 per cent) of Malaysian parents with children over 18 years old continue to support them financially, a new survey by Prudential revealed. The inaugural 2016 Prudential Relationship Index (PRI) found that the ratio of children providing financial support to their parents is only slightly higher than that of parents who provide financial support to their children. “Malaysians are very generous in providing financial support to parents and children.... https://www.scmp.com/news/asia/southeast-asia/article/2072306/more-three-quarters-malaysian-parents-provide-financial?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2072306/more-three-quarters-malaysian-parents-provide-financial?utm_source=rss_feed Mon, 20 Feb 2017 05:45:00 +0000 By Billy Toh & Neily Syafiqah Eusoff More than half of Malaysians (52 per cent) believe the current overall system has failed them — it is unfair and offers little hope for the future — while only 12 per cent believe it is working, a new survey by Edelman revealed. For the first time, Malaysia fell on the “distrustful” end of Edelman’s index, which gauges respondents’ trust in the government, business, media and non-governmental organisations (NGOs). The Malaysia’s edition of the 2017 Edelman... https://www.scmp.com/news/asia/southeast-asia/article/2071381/malaysians-trust-system-plunges-all-time-low-according?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2071381/malaysians-trust-system-plunges-all-time-low-according?utm_source=rss_feed Thu, 16 Feb 2017 03:15:15 +0000 By Wong Ee Lin Malaysia Airports Holdings Bhd (MAHB) will spend more than RM100 million (US$22,471,913) to upgrade the 39 airports it manages in the country this year and next. Its managing director Datuk Badlisham Ghazali said the works include upgrading the toilets and religious assembly buildings at the Kuala Lumpur International Airport (KLIA) in Sepang. “We are seeing a lot of umrah traffic. KLIA is not designed to cater for [that kind] of volume [and thus the upgrade],” he said after the... https://www.scmp.com/news/asia/southeast-asia/article/2071033/us225-million-be-spent-upgrading-malaysian-airports?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2071033/us225-million-be-spent-upgrading-malaysian-airports?utm_source=rss_feed Wed, 15 Feb 2017 04:45:45 +0000 By Anette Appaduray Malaysia’s medical tourism industry is expected to generate revenue of RM1.3 billion (US$292 million) this year, up 30 per cent compared with RM1 billion (US$220 million)last year, says the Malaysia Healthcare Travel Council (MHTC). Chief executive officer Sherene Azli said that in terms of the number of health travellers, the council expects it to increase to about a million from 860,000 last year. Indonesia remains the top revenue contributor, accounting for 70 per cent of... https://www.scmp.com/news/asia/southeast-asia/article/2070687/malaysia-set-earn-us292-million-revenue-medical-tourism?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2070687/malaysia-set-earn-us292-million-revenue-medical-tourism?utm_source=rss_feed Tue, 14 Feb 2017 04:30:30 +0000 By Sangeetha Amarthalingam Despite a year-on-year increase of 12.3 per cent in global semiconductor sales last December, which brought the total for 2016 to a record US$338.9 billion (RM1.5 trillion), most analysts in Malaysia are neutral on the local-related players due to challenges from a slower global economy, rising trade protectionism and the weaker ringgit. Global semiconductor sales for 2016 was just 1.1 per cent more than 2015, according to the European Semiconductor Industry... https://www.scmp.com/tech/enterprises/article/2069778/analysts-neutral-malaysias-tech-related-stocks-2017?utm_source=rss_feed https://www.scmp.com/tech/enterprises/article/2069778/analysts-neutral-malaysias-tech-related-stocks-2017?utm_source=rss_feed Fri, 10 Feb 2017 04:30:45 +0000 By Cindy Yeap Billionaire Ananda Krishnan and his long-time point man Ralph Marshall’s run-in with Indian authorities reached a new epoch with the publishing of a two-page court order by the Supreme Court of India in Malaysian newspapers summoning the duo to appear before it or risk financial consequences. Those familiar with the run-in say the court order does not concern Bursa Malaysia-listed Maxis Bhd and Astro Malaysia Holdings Bhd (which only has Malaysia operations and not Indian units... https://www.scmp.com/news/asia/southeast-asia/article/2064920/indian-court-summons-served-billionaire-through-malaysian?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2064920/indian-court-summons-served-billionaire-through-malaysian?utm_source=rss_feed Tue, 24 Jan 2017 05:30:00 +0000 By Sangeetha Amarthalingam The Business Processing Outsourcing Prime (BPO Prime) and Penang International Technology Park (PITP) projects worth a combined RM11.3 billion (US$2.5 billion), which involve the Penang Development Corp (PDC) and Singapore’s Temasek Holdings Private Ltd, have been deferred due to current property market conditions. The BPO Prime project with a gross development value (GDV) of RM1.3 billion (US$0.29 billion) in Bayan Baru, Penang was to be completed in 2019. However, it... https://www.scmp.com/property/international/article/2064584/malaysian-property-projects-worth-us25-billion-hold?utm_source=rss_feed https://www.scmp.com/property/international/article/2064584/malaysian-property-projects-worth-us25-billion-hold?utm_source=rss_feed Mon, 23 Jan 2017 05:00:00 +0000 By Chua Sue-Ann Genting Hong Kong Ltd’s Dream Cruises’ first vessel, the Genting Dream, is set to make Singapore its home port to access new Asean destinations. Dream Cruises president Thatcher Brown announced that the Genting Dream will be home-ported in Singapore from December 3 this year and cater to Singaporean and broader Asia-Pacific fly-cruise vacationers. “It really was an easy decision for us. Singapore is a popular, well-developed, strategic gateway and travel hub for the region with... https://www.scmp.com/news/asia/southeast-asia/article/2063900/genting-hks-dream-cruise-makes-singapore-its-home-port?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2063900/genting-hks-dream-cruise-makes-singapore-its-home-port?utm_source=rss_feed Fri, 20 Jan 2017 05:15:15 +0000 By Alexis See Tho Malaysia’s target for the digital economy to make up 20 per cent of the country’s gross domestic product (GDP) by 2020 is easily achievable, according to an expert. “The digital economy currently contributes 16.8 per cent to the GDP and the government aims for it to reach 20 per cent of the GDP by 2020,” said Microsoft Malaysia’s director of legal, corporate and government affairs Jasmine Begum. Commenting on the country’s present digital economy, she said that Malaysia “will... https://www.scmp.com/tech/leaders-founders/article/2063515/digital-economy-hitting-20-cent-malaysias-gdp-2020-easily?utm_source=rss_feed https://www.scmp.com/tech/leaders-founders/article/2063515/digital-economy-hitting-20-cent-malaysias-gdp-2020-easily?utm_source=rss_feed Thu, 19 Jan 2017 04:15:45 +0000 By Samantha Ho AirAsia X Bhd said China would remain a crucial market for the budget airline, due to the geographical segment’s positive growth. AirAsia X chief executive officer Benyamin Ismail said the company would continue expanding its core China market. “China is a segment that continues to record encouraging progressive performance every year and will remain the focus in AirAsia X’s network expansion strategy. “We are committed to maintaining the positive growth in this core market, as... https://www.scmp.com/lifestyle/travel-leisure/article/2063102/airasia-x-focuses-china-expansion-special-fares-wuhan?utm_source=rss_feed https://www.scmp.com/lifestyle/travel-leisure/article/2063102/airasia-x-focuses-china-expansion-special-fares-wuhan?utm_source=rss_feed Wed, 18 Jan 2017 03:00:45 +0000 By Sangeetha Amarthalingam Malaysian industry employers are calling for a one-stop foreign workers recruitment centre that is transparent and simple, with a steady supply of labour, in order to eliminate outsourcing agencies. Malaysian Iron and Steel Industry Federation president Soh Thian Lai said the agencies were among the factors behind the excess “import” of foreign workers for profiteering reasons. Soh’s statement comes a day after the postponement of the employer-borne foreign workers... https://www.scmp.com/news/asia/southeast-asia/article/2061860/malaysian-industries-call-one-stop-foreign-worker-centre?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2061860/malaysian-industries-call-one-stop-foreign-worker-centre?utm_source=rss_feed Fri, 13 Jan 2017 04:00:45 +0000 By Sangeetha Amarthalingam Widespread relief was felt among Malaysia’s industry employers after the country’s government postponed the mandatory imposition of foreign workers’ levy payment on employers until 2018. Transport Minister Datuk Seri Liow Tiong Lai said yesterday the deferment was necessary in the absence of a proper ecosystem under the newly introduced Employer Mandatory Commitment (EMC) to resolve issues involving foreign workers. Revealing the cabinet’s decision after a thorough... https://www.scmp.com/news/asia/southeast-asia/article/2061521/malaysia-deferrs-foreign-workers-levy-payment-2018?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2061521/malaysia-deferrs-foreign-workers-levy-payment-2018?utm_source=rss_feed Thu, 12 Jan 2017 05:15:00 +0000 By Supriya Surendran & Syahirah Syed Jaafar Small and medium enterprises (SMEs) in Malaysia are less sanguine about business expansion and capital investment in the first half of 2017 (1H17), compared to corporates, according to the findings of the inaugural RAM Business Confidence Index. The index is based on a joint survey conducted by RAM Holdings Bhd and RAM Credit Information Sdn Bhd. The overall findings of the survey indicated that corporates displayed a slightly higher positive outlook... https://www.scmp.com/business/article/2061213/malaysian-smes-less-sanguine-about-business-expansion-first-half-2017?utm_source=rss_feed https://www.scmp.com/business/article/2061213/malaysian-smes-less-sanguine-about-business-expansion-first-half-2017?utm_source=rss_feed Wed, 11 Jan 2017 07:15:15 +0000 By Supriya Surendran Bank Negara Malaysia (BNM) has initiated enforcement actions against a financial institution for its dealers’ misconduct involving fixing of the US dollar/ringgit exchange rate. This marked the first enforcement move involving currency manipulation taken by BNM since the central bank reiterated in November that offshore trading of the ringgit is not recognised. BNM announced the reinforcement of existing rules that have been in place to prohibit facilitation of ringgit... https://www.scmp.com/news/asia/southeast-asia/article/2059267/malaysias-central-bank-takes-action-against-currency?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2059267/malaysias-central-bank-takes-action-against-currency?utm_source=rss_feed Wed, 04 Jan 2017 07:30:30 +0000 By Kang Siew Li Having a licence does not assure that a new airline can take to the skies in Malaysia. And even if the airlines have been in operation for a few years, there is no guarantee that they can keep their licence forever. Rayani Air Sdn Bhd, Suasa Airlines Sdn Bhd and more recently, Eaglexpress Air Charter Sdn Bhd, found out the hard way about this. Last week, the four-year old Eaglexpress had its air service permit (ASP) — which allows a company to operate charter flights — revoked by... https://www.scmp.com/news/asia/southeast-asia/article/2058143/licence-doesnt-assure-smooth-flight-airlines-malaysia?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/2058143/licence-doesnt-assure-smooth-flight-airlines-malaysia?utm_source=rss_feed Fri, 30 Dec 2016 03:45:30 +0000 By Wong King Wai Naza TTDI Sdn Bhd launched the KL Metropolis Show Gallery at Naza Tower at Platinum Park in Kuala Lumpur on Oct 18 with much fanfare. At the event, an overview of KL Metropolis was presented by SM Faliq SM Nasimuddin, deputy executive chairman of Naza Corp Holdings Sdn Bhd and group managing director of Naza TTDI Sdn Bhd. He was accompanied by his brothers, Datuk Wira SM Faisal SM Nasimuddin who is Naza Group of Companies joint group executive chairman, and SM Nasarudin SM... https://www.scmp.com/property/international/article/2040288/kl-metropolis-first-residential-tower-be-launched-next-month?utm_source=rss_feed https://www.scmp.com/property/international/article/2040288/kl-metropolis-first-residential-tower-be-launched-next-month?utm_source=rss_feed Wed, 26 Oct 2016 09:30:30 +0000 Sona Petroleum Bhd's board proposed to wind up the company, ahead of its qualifying acquisition deadline end of this month. The liquidation follows termination of Sona's planned purchase of Australia's Stag Oilfield for US$25 million (about RM99 million).   In a statement to Bursa Malaysia today, Sona said it was discussing with potential liquidators on the special purpose acquisition company's winding up. Sona said the permitted timeframe to complete its qualifying acquisition would expire on... https://www.scmp.com/business/companies/article/1989784/sona-petroleum-proposes-wind-talks-liquidators?utm_source=rss_feed https://www.scmp.com/business/companies/article/1989784/sona-petroleum-proposes-wind-talks-liquidators?utm_source=rss_feed Thu, 14 Jul 2016 07:45:00 +0000