More Than 91,500 Jobs Created From 3,886 Projects Last Year Malaysia recorded a total of RM113.5 billion worth of approved investments involving 3,886 projects in the manufacturing, services and primary sectors from January to September, 2017. However, this was 26.5% lower than the investment of RM154.3 billion approved in the same period last year. These…
Osram Sets Up New Plant in Malaysia Osram recently opened it’s new semiconductor plant at the Kulim Hi-tech Park in Perak, Malaysia. The opening was officiated by Malaysian Minister of International Trade and Industry (Miti), Datuk Seri Mustapa Mohamed. In his opening speech, the minister said Osram was a good example of companies that has…
Alibaba launches Tmall retail site Chinese e-commerce giant Alibaba Group Holding Ltd is now targeting the sizeable 500 million population from South-East Asia, namely, Singapore, Malaysia, Hong Kong and Taiwan With product offerings, promotions and logistics, these countries are experiencing rapid growth in terms of new users. Following the launch of the new service, Tmall…
World’s First Digital Free Trade Zone Outside China KUALA LUMPUR: The world’s first Digital Free Trade Zone outside China was launched in Malaysia recently – aimed at doubling the nation’s e-commerce growth and increase the Gross Domestic Product (GDP) contribution to RM211 billion by 2020. Estimated to create more than 60,000 job opportunities by 2025,…
Malaysia Poised To Be Leader In Solar Industry KUALA LUMPUR: The Malaysian Solar PV Roadmap 2030, to be launched by the end of 2017 will pave the way for the further development of the country’s photovoltaic (PV) industry. The effort, which involves key stakeholders from the industry, government departments and academia will be instrumental in…
Alipay now available in Malaysia KUALA LUMPUR: The country’s largest financial service providers – Malayan Banking Bhd (Maybank) and CIMB Bank Berhad, recently partnered with China’s Ant Financial Services Group to enable the Alipay mobile wallet in Malaysia as an alternative cashless payment for Chinese tourists. Operated by Ant Financial, Alipay is an eWallet payment…
Changes implemented by the Companies Act 2016 The Companies Act 2016 came into force in Malaysia on January 31, 2017. However, certain sections have yet to come into operation. These relate to: the company secretary’s registration with the Registrar of Companies; and the corporate rescue mechanisms. Effectively, all companies in Malaysia will now have to…
SRAO 2017 and Changes to Property-Related Legal Fees The Malaysian Bar Council in November 2012 approved the amendments to the Solicitors’ Remuneration Order 2005 (“SRO 2005”) that have been gazetted as the SRAO 2017. The amendments were made to adjust the scale fees upwards for several chargeable items in respect of professional fees for the…
Malaysia records 4.5% economic growth KUALA LUMPUR: Driven by private sector spending and the manufacturing and services sector, Malaysia’s economy grew 4.5% in the fourth quarter of 2016 – exceeding economists’ survey of 4.4%. The nation’s central bank, Bank Negara Malaysia (BNM) said this was the strongest expansion compared to a 4.3% growth in the…
Bright Outlook for Malaysian Rubber Industry KUALA LUMPUR: Once a major source of income for the country, the production of rubber was reportedly declining and some investors even labeled it as a sunset industry. However, the recovery in the global economy and the shortage of natural rubber have since enhanced prospects for the industry this…