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Economy To Remain Favourable In August-October

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KUALA LUMPUR- Malaysia’s economy is expected to remain favourable between August to October 2018 based on the findings of the economic indicators, says the Statistics Department. It said on Monday the monthly leading index (LI) indicator in April increased by 0.1% to reach 119.1 points from 119.0 points in March. “Two main components of LI…

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Nor Shamsiah’s Appointment Good Sign For The Market, Says Former BNM Governor

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KUALA LUMPUR: The appointment of Datuk Nor Shamsiah Mohd Yunus as the new central bank governor is a good sign for the market and a reflection of the government’s respect for the institution. Former Bank Negara Malaysia (BNM) governor Tan Sri Zeti Akhtar Aziz said this, adding that by appointing Nor Shamsiah, it demonstrates the…

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Verizon’s CEO Choice Puts Focus Back On Industry Race Toward 5G

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In elevating technology chief Hans Vestberg to lead the overall company on June 8, Verizon Communications Inc sent a message to the rest of the industry: It’s doubling down on network expansion to ward off increasingly ambitious rivals. While AT&T Inc tries to complete an acquisition of Time Warner Inc and T-Mobile US Inc pursues…

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The Next National Car Should Be Electric, Some Malaysians Propose

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PETALING JAYA- The announcement that the Pakatan Harapan government aims to set up another national car company since Proton has been acquired by China’s Geely met with a mixed reaction, but some Malaysians had a good compromise: Make sure it’s electric. Speaking during a dialogue at the 24th Nikkei Conference on the Future of Asia…

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Do We Really Need A New National Car Company? Malaysians Weigh In

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PETALING JAYA- Malaysians have had a mixed reaction to Tun Dr Mahathir Mohamad’s announcement that the Government intends to launch a new national car company. Speaking during a dialogue at the 24th Nikkei Conference on the Future of Asia on Monday, the Prime Minister said the new Government is thinking of starting another national car,…

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Clouds Over New Directive For Zero-Rated GST

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KUALA LUMPUR- Many retailers, agents and services operators are still trying to grasp and familiarise themselves with the zero-rating of the Goods and Services Tax (GST). Some are reluctant to adjust their pricing model accordingly, as the tax break will only be for three months before the return of the Sales and Services Tax (SST).…

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Penang-Born NZ Mayor Urges Govt To Help Foreign Missions Facilitate Tabung Harapan Donations

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PETALING JAYA- Penang-born mayor of Kapiti Coast in Wellington, New Zealand K. Gurunathan (pic) has urged the Government to arrange for its foreign diplomatic offices around the world to facilitate donations towards the Tabung Harapan Malaysia (THM) fund. In a statement on Friday (June 8), Gurunathan said this initiative will improve the links between Malaysian…

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Ringgit Lower Against US$ On Uncertain Economic Conditions

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KUALA LUMPUR- The ringgit was slightly lower against the US dollar in the early session Friday due to uncertainty in the local economic condition, a dealer said. At 9.27 am(0127 GMT), the ringgit was quoted at 3.9790/9820 from 3.9750/9780 recorded at Thursday’s close. The dealer said besides the obvious fiscal uncertainties in the country, the…

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Felda, Felcra Settlers Get Special RM450 Raya Payment

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PETALING JAYA- All Federal Land Development Authority (Felda) and Federal Land Consolidation and Rehabilitation (Felcra) settlers will each receive a Hari Raya special incentive payment of RM450 each, Tun Dr Mahathir Mohamad (pic) has announced. The Prime Minister said on Wednesday (June 6) that the Government will bear the cost of the incentive for Felda…

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Bank Negara Governor Has Submitted Resignation

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KUALA LUMPUR- Bank Negara Malaysia Governor Tan Sri Muhammad Ibrahim has submitted his resignation, says Tun Dr Mahathir Mohamad. Speaking to reporters at a press conference on Wednesday after its Cabinet meeting, the Prime Minister said Muhammad had expressed his desire to leave and the Cabinet had accepted it. “He didn’t say an concrete reason,”…

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Credit Suisse Expects Malaysia To Meet Budget Deficit

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KUALA LUMPUR- Finance Minister Lim Guan Eng’s assurance that a budget deficit target of 2.8% of GDP will be met even as election promises are delivered may soothe investor concerns, Credit Suisse analyst Danny Goh writes in a note. Look for positive news flow on debt-reduction plans, infrastructure projects, toll-road concessions and other business friendly…

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New Minimum Wage For Private Sector To Be Announced By August

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PUTRAJAYA- The minimum wage for workers in the private sector is currently being reviewed and the government is expected to make an announcement on the matter by August this year. In saying this, Human Resources Minister M. Kulagesaran said the new minimum wage will be announced pending approval from the cabinet. He said the National…

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Zero GST For Life, General Insurance And Takaful Products

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KUALA LUMPUR- The General Insurance Association of Malaysia (PIAM), Life Insurance Association of Malaysia and Malaysian Takaful Association announced that life and general insurance companies and takaful operators in Malaysia will be charging the Goods and Services Tax (GST) at zero per cent effective June 1, 2018. The zero per cent charge applied to all…

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Bank Negara Exposure Draft On Trade Credit Insurance, Takaful

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KUALA LUMPUR- Bank Negara Malaysia has issued an exposure draft on its proposed requirements on the offering of trade credit insurance and trade credit takaful. In a statement posted on its website on Friday, it also proposes the recognition of trade credit insurance and trade credit takaful as credit risk mitigation under the Capital Adequacy…

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Wee: Probe RM99Mil ‘Speedy Gonzales’ Tourism Malaysia Contract

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PETALING JAYA- Former Tourism Malaysia chairman Wee Choo Keong (pic) is crying foul over a RM99mil deal between a local company and Tourism Malaysia which was inked in just one day. Wee, who labelled the agreement as “Speedy Gonzales contract”, claimed that the deal was made against the ministry’s procurement regulations and done hastily without…

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Bosou Sada, A Popular Breaking Fast Dish In Keningau

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KENINGAU- Bosou Sada or preserved fish in Dusun language, is a hot item during fasting month among members of the Dusun community in this district. It is a traditional dish made with ingradients such as fresh water fish, salt, ginger and cold cooked rice which are mixed together and kept in an air-tight container for…

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Syed Saddiq Backs Abolition Of BTN

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KUALA LUMPUR- Parti Pribumi Bersatu Malaysia (PPBM) Youth chief, Syed Saddiq Syed Abdul Rahman supports a suggestion that the National Civics Bureau (BTN) be closed because it had deviated from the principles on which it was set up. He said BTN which was initially aimed at raising the patriotic spirit was manipulated for political purposes.…

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Proton To Reimburse Buyers If GST Abolished

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KUALA LUMPUR- National car maker Proton has launched a price guaranteed initiative to reimburse buyers if the prices are reduced following the government’s plan to abolish the Goods and Services Tax (GST). It said on Wednesday the “Proton price guaranteed” was to prevent speculation and also to give its customers peace of mind following the…

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Melaka’s Investments Up Substantially To RM22.5Bil In Last 4.5 Years

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KUALA LUMPUR- Melaka managed to chalk up investments to the tune of RM22.5bil in just the last four-and-a-half years. Melaka Chief Minister Datuk Seri Idris Haron said this was a superlative performance from the RM13bil investments recorded in the five years prior to that. Investment-friendly policies which led to an influx of foreign direct as…

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Support Is Vital To Fight Global Illicit Trade

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KUALA LUMPUR- The existence of illicit trade has been an enduring issue that has escalated in scope and magnitude. Since the complexity of the shadow economy makes it hard to combat this growing issue in isolation, public- and private-sector support is vital. Advancing this conversation, over 120 prominent experts from government, law enforcement, international organisations,…

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Malaysia’s Economy: Getting Closer To High-Income Status

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IMF Country Focus sat down with Nada Choueiri, IMF mission chief for Malaysia, to discuss a few of these key recommendations, as well as the report’s overall findings. The IMF just completed its annual assessment of the Malaysian economy. How is the economy doing? Malaysia’s economy is showing resilience and is performing strongly. Growth is…

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Malaysia’s Improved Economy Due To Good Governance, Policies

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KUALA LUMPUR – Malaysia’s improved economy is due to the positive effects of good governance and policies by the government over these few years. Communications and Multimedia Minister Datuk Seri Dr. Salleh Said Keruak said the country’s economy had been improving for some time and this did not happen overnight. His comments followed a claim…

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Govt Ensures People Get Increasing Economic Benefit – PM Najib

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  KUALA LUMPUR – Datuk Seri Najib Tun Razak said the government always ensures that every Malaysian enjoys the benefits derived from the growing economy. The Prime Minister said among others, it had helped in registering a stunning reduction in hardcore poverty in the country from 3.8% in 2009 to just 0.4% last year. In…

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PM: Structural Reforms Have Put Economy On Right Track

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PUTRAJAYA: Strong political will has allowed for structural reforms to be made on the economy for it to remain resilient in facing challenges and uncertainties. Prime Minister Datuk Seri Najib Tun Razak said that despite initial concerns by certain groups on the changes, the Government believes that they were needed and necessary. The move to…

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Investors Remain Upbeat On The Potential Of Malaysian Economy

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DAVOS – The Malaysian delegation at the WEF had continued their annual tradition by hosting the Business Luncheon, one of the most iconic Malaysian events in Davos. The event was jointly hosted by Khazanah Nasional and MIDA. Alongside YB Dato’ Sri Mustapa Mohamed Minister of International Trade and Industry, YB Dato Seri Dr. Subramaniam Sathasivam…

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Pegging The Ringgit Would Only Cause Long-Term Harm

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The US Dollar strengthened to a 14 years high in 2016. The worst-performing currencies against the USD in 2016 were the Egyptian Pound (-59%), Nigerian Naira (-27%), Turkish Lira (-18%) followed by Mexican peso (-17%), British Pound (-17$) and Argentinian peso (-17%). Elsewhere in Asia, the Chinese Yuan fell 6.58% in 2016 while the Euro…

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Singapore Businesses Fear Worse Economic Situation In 2017

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The economic climate in Singapore deteriorated last year, according to companies polled in a new survey, with almost half expecting this year to be even worse. This was one of the findings of the latest annual National Business Survey conducted by the Singapore Business Federation. The survey polled more than 1,100 companies across all major…

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Vietnam Suffers First Economic Growth Slowdown In 4 Years

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HANOI: Vietnam’s economy this year expanded slightly behind 2015, missing a government target, marking the first slowdown in four years, but a fourth-quarter surge to 6.68% was the best for a year and kept it ranked among Asia’s fast-growing economies. Full-year growth was projected at 6.21%, slower than the 6.68% posted for 2015 and the…

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For Japan’s Abe, Diplomacy Is Set To Trump Economics in 2017

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TOKYO: Shinzo Abe’s trip to Pearl Harbor later Monday, the first by a sitting Japanese prime minister in decades, presages a year filled with diplomatic and security challenges that are likely to keep economic reforms well down his list of priorities. As 2017 begins, Abe faces an international landscape fraught with uncertainty after U.S. voters…

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Asian Currencies On Defensive; Ringgit Matches Post-1998 Lows

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SINGAPORE: The Malaysian ringgit matched a post-1998 low set last year and the South Korean won hit a nearly six-month low on Monday, after the U.S. Federal Reserve last week signalled a faster-than-expected pace of interest rate rises in 2017. While the size of Monday’s moves was small, Asian currencies were trading at levels that…

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