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Malaysia To Focus On New Sectors For Economic Transformation
12 July 2010, By Bernama
As the global economy develops slowly, the government is undertaking a form of economic transformation by focusing more on new sectors and development of the domestic economy.
Second Finance Minister Datuk Seri Ahmad Husni Hanazlah said new sectors such as Islamic finance where Malaysia occupies the top spot globally and services, can support the fall in manufacturing exports.
He said the move to expand domestic investments is the right action towards the projection for the Malaysian economy to expand positively.
"There are indicators now that the global economy is slowing. A number of countries are facing financial problems resulting from the global economic crisis which can impact the export of goods," he added.
More Malaysian firms to set up in Singapore
31 May 2010, By Business Times
TAN SRI Azman Mokhtar, managing director of Malaysian state investment company Khazanah Nasional Bhd, comments on plans to develop a rapid transit link between his country’s southern state of Johor and neighboring Singapore.
He also comments on an agreement between the two countries’ prime ministers to jointly develop land. Malaysia agreed to relocate its Singapore train station in exchange for land in the island-state that will be developed by their government investment companies, Khazanah and Temasek Holdings Pte.
Azman made these comments to reporters in Kuala Lumpur today.
On a planned rapid rail link by 2018:
MPCB Register's Pre-tax Loss Of RM3.24 Million In Q3
25 May 2010, By Bernama
Malaysia Pacific Corporation Berhad (MPCB) has registered a pre-tax loss of RM3.237 million in its third quarter ended March 31, 2010, against a loss of RM1.879 million in the same quarter of the previous year.
Revenue was lower at RM2.609 million from RM2.699 million previously.
MPCB said the bigger loss was due to an increase in advertising, promotional and marketing expenses and higher overheads in gearing for the Asia Pacific Trade & Expo City (APTEC) and LakeHill Resort City's big launch date.
In a filing to Bursa Malaysia today, MPCB said the loss correspondingly reduced the company's net asset value per share (NAV) to RM1.49 from RM1.51 for the period under review as compared to the immediate preceding financial period.
M'sia's hidden gem - the service sector
15 April 2010, By Business Times Singapore
The country needs to exploit its strategic location and position itself as a service hub for emerging Asian middle classes
MALAYSIA'S long-awaited New Economic Model (NEM) has been rolled out, beginning with Prime Minister Najib Razak's March 30 speech. Unfortunately, the timidity of what is merely a framework for future action has underwhelmed the private sector.
Still, the NEM has been brutally honest in its assessments of Malaysia's structural weaknesses - principally the market-distorting economic policies favouring the Malay-Muslim majority.
Nonetheless, the failure to outline how the government will address these issues to escape the 'middle-income trap' is a major flaw.
Singapore and Malaysia to build wellness centre in Iskandar Malaysia
08 April 2010, By MSN News
Singapore and Malaysia have agreed to set up a wellness centre as part of an iconic economic project in Iskandar Malaysia.
Malaysian Prime Minister Najib Razak revealed this to journalists at the Foreign Correspondents Association dinner last night.
Saifulbahri Ismail with more :
The idea of an iconic economic project was mooted in May last year by the Prime Ministers of Singapore and Malaysia.
It's a showcase of the commitment to build a strong, productive and enduring relationship.
A work group was formed to study the joint development.
Giving details for the first time on the project, Malaysian Prime Minister Najib Razak said it will be in the form of a wellness centre :
Singapore and Malaysia Decide to Construct Wellness Centre in Iskandar Malaysia
08 April 2010, By Top News
It has been reported that as part of an iconic economic venture, Singapore and Malaysia have decided to initiate a wellness centre in Iskandar, Malaysia.
This was revealed, last night by the Malaysian Prime Minister Najib Razak to journalists at the Foreign Correspondents Association.
It is said that the idea of an iconic economic project was unresolved in May last year by the Prime Ministers of Singapore and Malaysia.
The project is to display the promise to construct a tough, creative and long-term relationship.
Malaysian Prime Minister Najib Razak stated, "We have offered areas about 500 acres for that. But we've not concluded it yet. So, that's a subject of intense discussion withSingapore".
Malaysian PM Najib defends country's New Economic Model
07 April 2010, By Channel News Asia
Malaysian Prime Minister Najib Razak has defended the country's New Economic Model which he revealed last week.
The plan, aimed at steering Malaysia to a high-income based economy, has received criticisms among some sectors for eroding its decades-old affirmative action policy.
Mr Najib was addressing more than 100 journalists at a dialogue session after his speech at a gala dinner organised by the Foreign Correspondents Association in Singapore on Tuesday.
The Malaysian PM arrived in Singapore just three days after marking his first year in office.
Fresh from announcing the country's new growth strategies, he explained the thinking behind some of the reforms.
Three More Interchanges On North-South Expressway
05 April 2010, By Bernama
Plus Expressways Bhd (PLUS), the largest highway concessionaire in the country, will build three elevated interchanges at a cost of RM250 million in Sungai Buaya, Selangor, Alor Pongsu, Perak, and Bukit Gambir, Johor, for the convenience of users of the North-South Expressway.
Its chief operating officer, Nik Airina Nik Jaffar, said all projects would be completed in two to three years.
"Each interchange will be equipped with various facilities like surau, toilets and vehicle parking bays," she told a news conference, here Sunday.
She said the construction of the interchange in Sungai Buaya at Km436, between the Bukit Beruntung and Rawang interchanges, was expected to begin early next year.
Sesi dialog bantu tingkatkan hubungan
02 April 2010, By Utusan Malaysia
Sesi dialog dikenal pasti sebagai salah satu wadah berkesan untuk meningkatkan hubungan dan penyebaran maklumat secara terus antara polis dan masyarakat.
Ketua Polis Johor, Datuk Mohd. Mokhtar Mohd. Shariff berkata, melalui kaedah tersebut, masyarakat dapat menyatakan bantuan yang diperlukan daripada pihak berkuasa dan sebaliknya.
Beliau berkata, masyarakat harus bekerjasama dengan polis memerangi kegiatan jenayah kerana mereka adalah kunci kepada penyebaran maklumat khususnya jenayah yang berlaku di taman-taman perumahan.
"Melihat kepada keberkesanan sesi dialog ini, kami bercadang untuk meneruskan aktiviti seperti ini pada masa akan datang serta melibatkan pelbagai pihak dan kaum.
Don't Stop Helping SMEs, Muhyiddin Tells GLCs
02 April 2010, By Bernama
Deputy Prime Minister Tan Sri Muhyiddin Yassin has urged big corporations especially government-liked companies (GLCs), to continue assisting small and medium enterprises (SMEs) through development programmes.
He said suitable programmes such as merger, technology transfer, vendor development and collaboration could help SMEs expand their businesses.
"Indirectly, the GLCs will be able help the government in ensuring that the country's economy continues to expand," he said at the ground breaking ceremony for the construction of a bitumen depot belonging to Innate Synergy Sdn Bhd here Thursday.
He said that in the petroleum and gas industry, Petronas also could continue to do its part.
