Highlights:

  1. Government hopes to extend social security protection to all workers
  2. Comprehensive property database to be introduced next year
  3. Upscaling will ensure jobs are not overtaken by technology
  4. Malaysians sceptical of using technology for financial transactions
  5. Global air transport supports US$2.7 trillion in economic activity
  6. Huawei wins “Cyber Security Innovation of the Year” Award

13.7 million Malaysian workers not protected
Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail revealed today that about 13.7 million Malaysian workers are still not covered by any form of social security protection. She said the figure was alarming and the situation needs to be addressed. According to the January 2018 data of the Statistics Department, the country had 15.19 million workers. “The government is committed to extending the coverage of social security in the country to ensure Malaysians from all walks of life are covered by a sustainable and affordable social security system,” she said when opening the Regional Social Security Forum for Asia and the Pacific of the International Social Security Association (ISSA), in Kuala Lumpur. Acknowledging the creation of new types of work from the Industrial Revolution 4.0, she urged the Social Security Organisation (SOCSO) to extend the Self Employment Social Security Act 2017 to all platform workers of the new economy. She said these new types of work, which are breaking away from the traditional work models, are leaving these new workers uncovered by any form of social security programme. Datuk Seri Wan Azizah said workers in the informal sector also should not be forgotten, as well as other vulnerable groups such as persons with disabilities, older persons, housewives, children and other layers of society.

Ministry to introduce comprehensive property database
The Housing and Local Government Ministry is currently working on a comprehensive database to help first-time house buyers own a property. Its Deputy Minister Datuk Raja Kamarul Bahrin Shah Raja Ahmad said the database, which is expected to be introduced next year, would include transactions and property ownership data and become a reference for property developers to better plan their supply. “The database will also help authorities to filter the property purchasers who own multiple properties from first-time house buyers. “We are working hard on it. The biggest challenge that we are facing is some resistance from local authorities in surrendering the housing market data which is totally not a healthy situation,” he told reporters in Kuala Lumpur.

Technology will not take over human jobs
The general believe that technology will take over human jobs in the future is a grave misconception, said Islamic Banking and Finance Institute Malaysia (IBFIM) Chief Executive Officer Yusry Yusoff. He said technology, in line with industrial revolution 4.0 (IR4.0), would upscale the work force to cater to future demand. “With technology, we do not need to open bank branches anymore as everything can be done online. However, people think that with this, there will be less jobs. This is not correct. “Those who use to be clerks can now become financial planners if they upscale themselves. Yes, the jobs that they have now may no longer exist, but new jobs, in line with the change, will be created,” he told Bernama on the sidelines of a forum on “Digital Economy and its Potential at Reskilling for Future Economy” in Kuala Lumpur.

Malaysians sceptical of using technology for financial transactions
Malaysians continue to be sceptical over the use of technology to conduct their financial transactions. Malaysian Digital Economy Corporation (MDEC) Chief Operating Officer Datuk Ng Wan Peng said the adoption of cashless payments, especially among small and medium enterprises (SMEs), is still relatively low. “Continuous efforts (to promote cashless payments) are being done together with the central bank as it is much safer and the cost of handling money is relatively cheaper,” she told Bernama. According to MDEC’s data, Malaysia’s Internet penetration in January 2018 stood at 79 per cent or 25.08 million users. Although many employees are still not ready to embrace the fourth industrial revolution (Industry 4.0), they need to start somewhere, said Ng. “We are concerned that only a small percentage of SMEs have an online presence,” she said. Meanwhile, Ng also said the success rate of startups in Malaysia is relatively high compared to some other countries, as only 20 per cent had dropped out in the early stages. “The startups that failed did not have a clear plan. They need to have a clear direction in order to be successful,” she added.

Global air transport supports US$2.7 trillion in economic activity
The global air transport sector supports 65.5 million jobs and US$2.7 trillion in global economic activity according the “Aviation: Benefits Beyond Borders” report by the Air Transport Action Group (ATAG).  Executive Director Michael Gill said advances in air transport changed the way people and businesses connected with each other and more people in more parts of the world were taking advantage of safe, fast and efficient travel. “There are over 10 million women and men working within the industry to make sure 120,000 flights and 12 million passengers a day are guided safely through their journeys,” he said in a statement today. Gill said the wider supply chain, flow-on impacts and jobs in tourism made possible by air transport showed that at least 65.5 million jobs and 3.6 per cent of global economic activity were supported by the aviation industry.  The ATAG report also looks at two future scenarios for growth in air traffic and related jobs and economic benefits. With an open and free-trade approach, the report concluded that growth in air transport would support some 97.8 million jobs and US$5.7 trillion in economic activity in 2036. “However, if governments create a more fragmented world with isolationism and protectionist policies, over 12 million fewer jobs and US$1.2 trillion less in economic activity would be supported by air transport,” it said.

Huawei receives “Cyber Security Innovation of the Year” Award
Huawei has won the “Cyber Security Innovation of the Year” Award at the 10th Cyber Security Malaysia – Awards, Conference and Exhibition (CSM-ACE). The awards are organized by CyberSecurity Malaysia, the national cyber security specialist agency and held in collaboration with the National Cyber Security Agency (NACSA). The winning product, Huawei SDSec solution aims to help enterprises tackle current and new security threats. It is for the first time that a solution uses AI (Artificial Intelligence) and software-defined security to coordinate networks equipment and security devices to work together. Intelligent threat detection and response helps customers mitigate next generation network security risks. The Malaysia Cyber Security Awards were created to honor individuals and organizations who contributed to Malaysia’s cyber security or information security. The awards are conferred in recognition of their innovativeness, commitment, industry/product/service leadership, and sound business strategies.