Daily Highlights: 27 June 2018

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Highlights:

  1. 12,000 pieces of jewellery and other luxury goods seized from former PM’s properties
  2. Police to call Najib and Rosmah in connection with 1MDB investigations
  3. Hong Leong aims to issue RM2.5b SME loans
  4. UPS enhances services to facilitate global expansion for Malaysian SMEs
  5. Employees believe technology can improve working environment
  6. Heatwave hits Britain
  7. UNPay in Talks with Dubai Government to Build Cashless City

12,000 pieces of jewellery and other luxury goods seized from former PM’s properties
Over 12,000 pieces of jewellery have been impounded from several properties that have been linked to former prime minister Datuk Seri Najib Razak as part of ongoing investigations into the 1Malaysia Development Berhad (1MDB) corruption scandal. Bukit Aman Commercial Crime Investigation Department Director, Commissioner Datuk Seri Amar Singh told reporters in Kuala Lumpur that the gems alone have been appraised to cost RM440 million, but their market value is estimated at between RM660 million and RM880 million. He said the single most expensive piece of jewellery was a yellow and gold necklace valued at RM6.4 million. He said police seized 567 handbags from 37 high end brands. Police also seized time pieces from over 100 high end brands which had a total value of RM78 million.

In a related development, Datuk Seri Amar Singh said Datuk Seri Najib Tun Razak and his wife Datin Seri Rosmah Mansor will be called up by Bukit Aman in connection with the ongoing investigation into 1MDB. He added that the couple’s alleged “gift givers” will also be called. He said that so far police have recorded more than 30 statements pertaining to the investigation.

Hong Leong aims to issue RM2.5b SME loans
Hong Leong Bank is allocating RM2.5 billion towards loans for the small and medium-sized enterprise (SMEs) segment for its financial year ending July 2019. Hong Leong Group managing director and chief executive officer Domenic Fuda said SMEs were facing increasingly challenging conditions that require greater agility and speed in their response. “This will help drive the growth of our SMEs business segment and is considered as key growth area for the banking group which has contributed 16 per cent to the total loan growth,” he said during the product launching of SME Elite today. SME Elite is a comprehensive suite for digital business and financing solutions that will serve the need of SMEs cash management, advertising and promotion solutions, property financing and working capital scheme to support them in daily business operations, he said.

New UPS Service enhancements facilitate global expansion for Malaysian SMEs
UPS today announced greater connectivity for Malaysian businesses to the global marketplace. In addition to a series of service enhancements impacting over 43 towns in Peninsular Malaysia, UPS is bolstering its access points by 70 percent. Shippers are now able to gain easier access to UPS’s international shipping solutions at almost 180 UPS retail access points across Malaysia. The service enhancements in Malaysia will enable businesses to gain easier access to global markets and enable the overseas expansion of many small- and medium-sized businesses. It also encourages export activities; in line with Malaysia’s call for SMEs to integrate export into their businesses to grow beyond their borders.

Employees believe technology can improve working environment
Singaporean employees see the potential of Artificial Intelligence (AI) and Internet of Things (IoT) to improve the working environment in the next five years, a new study from Unisys Corporation reported. Consulting Practice Lead, Unisys Asia Pacific, Leon Sayers said AI benefits sectors with clear decision protocols such as credit card application assessments while IoT benefits industries that rely on workers to monitor situations in the field such as social workers or police. Employees should not fear these emerging technologies as organisations who modernise their technology and business processes in the right way will be best positioned to lead and the combination of human and machines will enhance the productivity. The study – The New Digital Workplace Divide: Why a Technology-Enabled Workplace is Critical to Business Success – explores the importance of deploying current and future digital capabilities in the workplace, a statement from Unisys Australia said. The research underscores how the digital workplace encompasses a wide ecosystem of people, culture, technology and processes. It suggested that employers must take a holistic approach to organisational change in order to achieve successful in digital transformation.

Heatwave hits Britain as temperatures set to soar
Temperatures have soared to 30 degrees Celsius in parts of Britain and will continue to soar later this week as a heatwave intensifies, forecasters have said. Temperature reached 30.6 degrees Celsius on Tuesday in Porthmadog in North Wales, beating Monday’s 30.1 degrees Celsius in Hampton, southwest London. The Meteorological Office has issued a level two heatwave alert, saying dry and sunny weather will lead to temperatures gradually trending upwards during the coming week. The heatwave has sparked wildfires and travel disruption in parts of Britain. Trains may be delayed as speed restrictions are enforced to prevent steel rails buckling in hot weather. Britain’s highest temperature recorded for June was 35.6 degrees Celsius in the southern port of Southampton in 1976.

UNPay in Talks with Dubai Government to Build Cashless City
UNPay, a leading Fintech open platform provider that is dedicated to aggregating mainstream electronic payment modes worldwide, was the only e-payment player from China to be invited and participate in the Dubai Smart City Innovation Conference. Organised by the Shanghai Science and Technology Innovation Office and chaired by Shanghai’s deputy mayor, the Dubai Smart City Innovation Conference, aimed to provide a platform for Chinese companies and delegates to come together to share and exchange experiences on building a smart city. As the only participant from the payment industry, UNPay, demonstrated its capabilities and presented a proposal to representatives from various Dubai government departments and officials from Smart Dubai Office (SDO) on how it can help the Middle Eastern city to establish an e-payment infrastructure. The three parties have also reached preliminary agreement on possible collaborations.

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