News Snippets: 11 July 2018

0

Highlights:

  1. Mechanical and Electrical sector expected to recover by year-end
  2. Asian economy to remain resilient amid ongoing trade war
  3. Legalise foreign workers already employed in construction industry – MBAM
  4. Gen Y finance professionals prioritise career advancement, work challenges – AIF
  5. Proton expects 109 dealers to upgrade facilities by year-end
  6. IKEA to open in India

Mechanical and Electrical sector expected to recover by year-end
The mechanical and electrical (M&E) sector has recorded slower growth year-to-date, but is expected to recover by year-end, supported by demand from the property sector, said Glarie Elevator (M) Sdn. Bhd. Chairman Datuk Seri Mohd Effandie Ahmad. He said the sector was affected by the bearish developments in the property sector but the situation was expected to improve going forward. “(The condition) is not that good, but I am very positive that it will be much more better by year-end or early next year,” he said. He noted that an M&E sub-sector, elevator and air-conditioning, had chalked up growth of between five per cent and seven per cent in 2017. Housing and Local Government Minister Zuraida Kamaruddin had previously said that signs of house buyers returning to the property sector could lead to the lifting of the moratorium on luxury developments.

Asian economy to remain resilient amid ongoing trade war
Former Bank Negara Malaysia Governor, Tan Sri Dr Zeti Akhtar Aziz believes, the Asian economy, including Malaysia, will remain resilient amid the ongoing trade war between the United States and Chin. Commenting on latest developments on the escalating trade conflict in which the US threatened to impose fresh tariffs on another US$200 billion of Chinese goods, she said this kind of global trade war did not benefit anyone. “But I believe in the resilience of the Asian economy and we will demonstrate the resilience going forward,” she told reporters after the Council of Eminent Persons meeting in Kuala Lumpur. In the latest spat on the imposition of fresh tariffs by Washington, Beijing has vowed to retaliate. The US Trade Representative released a new round of proposed tariffs, listing 200 pages of items valued at US$200 billion which included baseball gloves, handbags and digital cameras.

Legalise foreign workers already employed in construction industry – MBAM
The Master Builders Association Malaysia (MBAM) has called on the government to legalise foreign workers already employed by the construction industry, but repatriate others running their own illegal businesses. In a statement today, President Foo Chek Lee said the industry needs to address the issue of illegals already employed within it, because they are trained and skilled workers. “Moreover, we really like to see the cost on recruitment of foreign workers decreasing and simplified for the betterment of the industry. “Besides, the levy paid by construction companies should be made in two instalments annually, as the burden is heavy on contractors, especially for smaller companies,” said Foo, who was re-elected President for 2018-2020.

Gen Y finance professionals prioritise career advancement, work challenges – AIF
ASEAN Generation Y finance professionals prioritise career advancement and work challenges as their top work priority, said Asian Institute of Finance (AIF). In a study conducted by AIF, titled ‘Gen Y in Workplace : An ASEAN Perspective’, it said that Malaysian Gen Y have a tendency to prioritise fast career progression. AIF Chief Executive Officer Raymond Madden said that this study represented one of the most comprehensive regional surveys of its kind, exploring Gen Y attitudes to the work place job expectations and career development. “The study reveals that career advancement is seen as the most important driver as opposed to salary,” it said. It is estimated that by 2030, Gen Y would make up over half of ASEAN’s total population and is set to transform the workplace across the region.

Proton expects 109 dealers to upgrade facilities by year-end
Proton Holdings Bhd. expects 109 of its dealers to upgrade their facilities from 1S or 2S to a full-fledged one-stop centre of 3S or 4S (sales, service, spare parts and spray paint) by year-end. Vice President of Sales and Marketing Abdul Rashid Musa said the company had approved applications from 88 dealers for the upgrading exercise, which equates to 80 per cent of the total 109 dealers targeted. “We need better skilled technicians to service customers as our cars are now becoming more sophisticated with better features,” he told reporters in Klang. Proton has 150 dealers nationwide, including in Sabah and Sarawak.

IKEA to open in India
The arrival of Swedish furniture brand Ikea in India will be accompanied by a new ad campaign from Dentsu Impact, the first ever for the brand in India. Following the opening of the first store in Hyderabad on July 19, the firm will run a television spot and outdoor campaign from next week plus a series of films to run on social media and websites. All will include the tagline: ‘Make Everyday Brighter.’ Dentsu Impact president Amit Wadhwa said: “It is not like any other launch. It is a brand loved all over the world, not just for its outstanding home furnishing solutions but also for some great communication. Meanwhile, Ikea India country marketing manager Ulf Smedberg said he was very excited about the launch, adding: “Everything we do comes from our belief to create a better everyday life and from market insights, and this is expressed in our positioning direction ‘Make Everyday Brighter’.

Leave a Reply

avatar
1200
  Subscribe  
Notify of