Governor sees positive impact on Malaysia’s first digital bank – GX Bank Bhd

KUALA LUMPUR: Central bank governor Datuk Abdul Rasheed Ghaffour foresees a positive impact on Malaysia’s banking landscape with the launch of the country’s first digital bank, Grab-led digital bank GX Bank Bhd. The governor said the new digital banks will drive efficiency and competitiveness across the banking sector. “In September, GX Bank was the first … Read more

Malaysia targets 90% cashless payment by 2025

PUTRAJAYA: Malaysia aims to achieve a 90% cashless payment target by 2025, with the current penetration rate ranging from 60% to 70%. Payments Network Malaysia Sdn Bhd (PayNet) government digitalisation senior director Firdaus Ghani stated that the strategy involves offering incentives, improving infrastructure, and changing public mindsets. “We have been collaborating with the Finance Ministry … Read more

IRB eyes record revenues with help of e-invoicing

KUALA LUMPUR: The Inland Revenue Board (IRB) is banking on the transition to e-invoicing to set new yearly revenue records, said its CEO Datuk Mohd Nizom Sairi. He said that e-invoicing in Malaysia is expected to have a positive impact on the landscape of tax audits and investigations in the country, as the new system … Read more

CGC, 18 banks team up for RM1b ESG financing guarantee scheme for SMEs

KUALA LUMPUR: Credit Guarantee Corporation Malaysia Bhd (CGC), in collaboration with 18 participating banks, will introduce a RM1 billion portfolio guarantee scheme for environmental, social and governance financing for small and medium enterprises. In tandem with this financial initiative, the Joint Committee on Climate Change (JC3) has unveiled four other programmes aimed at expediting the … Read more

No crisis despite ringgit hitting new low against US dollar since AFC: BNM governor

KUALA LUMPUR: Despite the ringgit’s decline to its lowest level against the strong US dollar since the Asian Financial Crisis (AFC) in 1997, Malaysia is far from being in crisis – as the country has a resilient economy, robust banking system and strong external sector, Bank Negara Malaysia (BNM) governor Datuk Abdul Rasheed Ghaffour said. … Read more

SC, agencies create governance toolkit for SMEs to reduce supply chain risks

KUALA LUMPUR: The Securities Commission Malaysia (SC) is teaming up with relevant agencies to create a governance toolkit for small and medium-sized enterprises while Capital Markets Malaysia will issue a Simplified ESG Disclosure Guide for them. SC chairman Datuk Seri Dr Awang Adek Hussin (pix) stated that the SC is promoting governance throughout the supply … Read more

SC, agencies create toolkit for SMEs to reduce supply chain risks

KUALA LUMPUR: The Securities Commission Malaysia (SC) is teaming up with relevant agencies to create a governance toolkit for small and medium-sized enterprises while Capital Markets Malaysia will issue a Simplified ESG Disclosure Guide for them. SC chairman Datuk Seri Dr Awang Adek Hussin (pix) stated that the SC is promoting governance throughout the supply … Read more

Taiwanese IT firms see Malaysia as ideal gateway to Asean markets

KUALA LUMPUR: Malaysia’s economic and political stability is helping Taiwanese IT firms to use it as the gateway to expand to the broader Asean markets, according to Taiwan Institute for Information Technology director of International Cooperation (International Division) Jose Cheng. In an exclusive interview with SunBiz, he said that Taiwanese firms recognise Malaysia as a … Read more

Bask Bear Coffee expands domestically, Tealive goes regional

KUALA LUMPUR: Bask Bear Coffee is set to focus on expanding within the domestic market, while Tealive will continue to spearhead the regional expansion efforts, according to Loob Holding CEO Bryan Loo. “Bask Bear at the moment doesn’t have any regional plan, whereas Tealive is highly focused on regional expansion. So, for Bask Bear coffee … Read more

Singapore’s vEarth invites Malaysians into its metaverse

PUTRAJAYA: Singapore-based technology startup vEarth Pvt Ltd is seeking partners in Malaysia to contribute to the development of the country’s smart city plan through its hybrid reality metaverse, vEarth. The metaverse industry, set to be worth US$5 trillion (RM23.4 trillion) by the end of the decade, is at the core of vEarth’s ambitious plans. Founder … Read more

AIBIM unveils myWakaf 2.0, flagship project

KUALA LUMPUR: myWakaf 2.0, initiated by the Association of Islamic Banking and Financial Institutions of Malaysia (AIBIM), is working on 14 Solar Dome Dryers (SDD) projects aimed at serving the fishing communities across all states in Malaysia within the next three years. Phase 1 will see the completion of five projects in five states – … Read more

SIBS 2023 expected to notch up RM1.5b in negotiated sales

KUALA LUMPUR: Invest Selangor Bhd anticipates a potential RM1.5 billion in negotiated sales from Selangor International Business Summit 2023 (SIBS 2023), fuelled by focused industries such as electrical and electronics, food and beverage manufacturing, digital investment, logistics services, machinery and transport equipment. According to Selangor State Exco for Investment, Trade and Mobility Ng Sze Han, … Read more