Malaysia Leapfrogs from 24th to 15th spot in World Bank Doing Business 2019 Report According to the recently released World Bank Doing Business 2019 Report, Malaysia advanced nine places to 15th spot among 190 economies worldwide. Last year the report had ranked Malaysia at 24. On the list of top five countries, New Zealand championed…
DuitNow Money Transfer Service to Launch in December in Malaysia Malaysia’s Payments Network Malaysia Sdn Bhd (PayNet) is set to launch the DuitNow money transfer service this December. This will allow customers to transfer money securely and immediately using just the recipient’s mobile number. As of now, 40 local and foreign banks are expected to…
Alibaba’s Investments in Malaysia Continues The political power shift in the country did not spell an end to Alibaba’s investment in Malaysia. Despite the review of Malaysia-China mega projects, Alibaba’s founder Jack Ma has recently confirmed that Alibaba will continue its investments in Malaysia without disruptions. In 2017, Alibaba has inked a memorandum of understanding…
Malaysia’s June Inflation Rate Dips After GST Scrapped Following the abolishment of the 6% Goods and Services Tax (“GST”) from June 1 onwards, Malaysia’s June inflation rate eased to a 3-year low of 0.8%. In June, the country’s inflation rate was recorded at 0.8 %, which is the lowest rate since February 2015 – the…
Revival of Malaysia Inc. to Help Stimulate Growth Malaysia’s PM to Reintroduce Malaysia Inc. Concept Malaysia Inc., a concept which was first introduced by Prime Minister Mahathir Mohamad, will be revived with the aim to make Malaysia regarded as one massive corporation that both government and private sector will work to ensure its success. Tun…
Invest Selangor to Collaborate with MIDA on Boosting Logistics Supply Chain Malaysia’s logistic industry is expanding, and expanding fast, and the MIDA and Invest Selangor are set to work together to meet this need by working together to cater to the ASEAN and APAC region. In a jointly organized Investment Forum on Logistics Industry themed…
Malaysia’s New Finance Minister Confident of Stronger Economy Malaysia’s newly appointed Finance Minister Lim Guan Eng recently stated that the country’s economy remained strong and was backed by sound fundamentals. However, he said there was still a need to improve the fiscal conditions and also iron out other pressing issues. “The country’s economic fundamentals…
New Trade Deal Signed By 11 Countries Eleven countries in the Trans-Pacific Partnership free trade agreement recently sent a strong message to Washington against its increasing protectionism in trade. The countries proceeded to sign a new deal known as The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). It was signed in Santiago, Chile, by…
Pahang Set to Woo Investors with Mammoth Projects Pahang looks set to woo both foreign and local investors with numerous large-scale projects, including the East Coast Railway Line (ECRL) project, Malaysia-China Kuantan Industrial Park (MCKIP), Kuantan Port expansion and Tanjong Agas Oil & Gas and Logistic Industrial Park. These mammoth projects will play a big…
MIDA Hold Special Briefing Sessions for Greater Opportunities The Malaysian Investment Development Authority (MIDA) recently held a briefing session entitled, “An Update on Investment Opportunities in Perlis’ at the MIDA headquarters. The first of it’s kind, this session was part of MIDA’s efforts to provide in-depth opportunities in every state this year. The series follows…