MRCA: Reduce Dependence on Foreign Workers
The Malaysia Retail Chain Association has urged to government to engage more with retailers and small and medium enterpises (SMEs) to find a long-term solution to minimise the reliance on foreign labour. Its President, Datuk Garry Chua said there should be a minimisation on the retail sector’s dependence on foreign workers, particularly for the frontline positions. He added that the retail sector has made efforts to engage more locals in both the frontline and backline positions, but are facing issues of labour shortages, which leads them to rely on foreign, cheaper labour.
SC Urges Boards to Set Up Appropriate Incentive Structures
Securities Commission Malaysia (SC) Chairman, Tan Sri Ranjit Ajit said boards must consider the establishment of appropriate incentive structures to ensure that the management is aligned to the approach. “Boards are under greater scrutiny as there are concerns that market forces and other exogenous factors are causing short-term priorities to compromise long-term interests, he said. He added that two important aspects to be considered in the long term are it must be kept relevant and that its success depends on the capabilities of the board members.
MyEG To Expand MyHom Project Throughout The Country
MyEG Services Bhd (MyEG), the provider for the e-government services, is targeting expanding the MyHom project to all states which have a large number of foreign workers in the manufacturing sector. Its Executive Chairman Datuk Dr Norraesah Mohamad said the first phase of the project had been completed was in Masjid Tanah, Melaka. The second phase in Merlimau is in the process of converting the existing buildings. “MyHom is a project o improve the accommodation facilities of foreign workers who used to live in different locations which made it difficult for the authorities to monitor.
Hong Kong and China most at risk of financial crisis within next three years
Hong Kong and mainland China are the most vulnerable economies at risk of a financial crisis over the next three years. According to the Nomura Report over 40 out of 60 economic indicators are sending alarm signals, including runaway property prices and soaring levels of private debt. The report added that emerging markets are more at risk of a financial crisis than developed countries and Asia – excluding Japan – is the region most at risk, led by Hong Kong and mainland China. It said a slew of “early warning indicators” signal a crisis within the next 12 quarters.
Sales of PCs Drops
Worldwide shipments of personal computers continued to slump in the recently ended quarter but showed signs of stabilizing, according to figures released by market trackers. Preliminary estimates released by Gartner indicated that 61.1 million PCs were shipped in the second quarter of this year, a 4.3% decline from the same period a year earlier. Higher prices due to tight supplies of some components, particularly solid state drives, were felt to be among factors that hampered sales.