Tax Incentives to Spur Industry 4.0 in Budget 2018
Budget 2018, which will be tabled in Parliament in October, is expected to give greater emphasis on the need to provide tax incentives that focus on the development of the fourth industrial revolution (Industry 4.0). Second Finance Minister, Datuk Johari Abdul Ghani said this would be in line with the government’s effort to promote high-technology industries and minimise dependency on manpower. He named the “These include sectors involved in automation, robotic development and big data.
NCCIM Forum to Critically Examine Malaysia’s Economic and Business Landscape
The National Chamber of Commerce and Industry of Malaysia’s (NCCIM) Economic Forum 2017 will critically examine the economic and business landscape of Malaysia. The inaugural event next month will also provide valuable insights and feedback to the government on the formulation of economic policies moving forward. NCCIM President Datuk Ter Leong Yap said the forum would also include constructive debate and discussions on what needs to be done to enhance and sustain the country’s economy.
Ride Industry 4.0 Wave, Malaysian Enterprises Told
Communications and Multimedia Ministry Secretary-General, Datuk Seri Dr Sharifah Zarah Syed Ahmad said Malaysians, especially the business community, must fully embrace digitalisation and enhance industry skills in order to stay abreast of the new revolution. The government has placed much emphasis on Industry 4.0 as it was critical to boost industrial and economic growth.
Malaysia’s BPO Market to Soar to US$1.4 Bln By 2021
Malaysia’s Business Process Outsourcing (BPO) market is expected to reach US$1.4 billion by end-2021 at a compound annual growth rate (CAGR) of 7.9 per cent, said International Data Corporation (IDC). The growth of the BPO market was mainly related to the increase in demand for the customer care segment and high-end analytics solution by Malaysian enterprises, it said in its latest research titled, ‘Business Process Outsourcing (BPO) Market in Malaysia 2017’. The research highlighted that the Human Resources and Finance & Accounting sectors made up three-fourth of the total BPO market in 2016, followed by the customer care sector at 14.0 per cent and procurement sector being the smallest segment at 9.0 per cent.
RHB Banking Group awarded Company of The Year Award
The RHB Banking Group was awarded the Company of the Year Award (Listed Financial Institution) at the CSR Malaysia Awards 2017, for being a key advocate in Malaysia’s socio-economic transformation. The event, organised by CSR Malaysia Magazine was held on 20 July 2017 in Kuala Lumpur.
Journey to 5G
Singtel has launched near-gigabit mobile data speeds at selected high-traffic outdoor locations. It offers Southeast Asia’s fastest Gigabit-class LTE mobile speeds at 800Mbps Singtel is launching this in phases on its LTEAdvanced network at selected high-traffic outdoor locations across the island, starting with Orchard Road. At 800Mbps, it is Southeast Asia’s fastest Gigabit-class LTE mobile data peak speed, delivering up to 60% faster download speeds than prevailing LTE services.
North Korea 2016 economic growth at 17-year high despite sanctions
South Korea’s central bank said North Korea’s economy grew at its fastest pace in 17 years in 2016, despite international sanctions aimed at curbing its pursuit of nuclear weapons. The Bank of Korea said Gross domestic product (GDP) in North Korea last year rose 3.9 per cent from the previous year when the economy contracted due to a drought and low commodity prices. The expansion, driven by mining and energy, marked the biggest rise since a 6.1 per cent gain in 1999. North Korea, which counts China as its biggest trading partner, also boosted exports by 4.6 per cent, the most since an 11.8 per cent jump in 2013.