Editor’s Choice: 23 November 2017

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  • WIEF Enables Businesses, Countries and Communities to Tap Opportunities Presented by Disruptive Change
  • Strong Political Leadership Neededto Harmonise Implementation Of Digital Economy & Green Economy
  • Digital Economy To Transform Sarawak Into Developed Economy
  • State Government’s Moves Set To Give Johor Economy A Boost
  • Singapore and Malaysia revitalise Southeast Asia’s IPO market in 2017 with blockbuster listings

WIEF Enables Businesses, Countries and Communities to Tap Opportunities Presented by Disruptive Change

The 13th World Islamic Economic Forum (WIEF) ended in Kuching today on a high, delivering long-lasting impact across businesses, countries and communities, and paving the way for a successful next edition. Centred on the theme ‘Disruptive Change: Impact and Challenges’, the three-day Forum focused on high-level dialogues on global forces of disruption, panel discussions on business challenges and workshop-style sessions to develop actionable plans. The Forum opened on a big win for the business community with 16 MoUs being sealed, amounting to US$2.43 billion – the highest-ever commercial value ever achieved in a single edition in the history of the Forum. The MoUs exchanged covered the technology, halal food and energy sectors, nine of which were with international organisations. Beyond their commercial value, these MoUs deliver a high impact to the global business community by creating new collaborations, opening new markets and uncovering new ways to capitalise on opportunities presented by a variety of disruptive forces shaping the world today. (Media Release)

Meanwhile, WIEF Chairman, Tun Musa Hitam said a strong political leadership is needed to set the tone in harmonising the implementation of digital economy and green economy worldwide. He said each country needed to be aware of the latest technology and keep abreast of it to avoid being left behind. “If we are aware of this, then we are in. But of course, the role of education is also vital. “So much has been thrown into education but the adaptability of each strategy, each policy and the implementation are also crucial to tighten up with the digital economy and green economy,” he said. (Bernama)

Digital Economy To Transform Sarawak Into Developed Economy

Sarawak’s Deputy State Secretary, Datuk Dr Sabariah Pu said the digital economy is a new strategy for the state to transform its economy although a lot of efforts needed to be taken together by the government, private sector and people. “The bold and brave initiative is to make Sarawak a developed economy and showcase the state to the rest of the world,” she said. She added that Sarawak needed to shift to the digital economy to increase its economic growth to 6.5 per cent per year, as the state has been growing at about four per cent per year. She said the extra 2.5 per cent would come from additional investments and productivity which could be achieved from the move to intensify applications of the digital economy. “The digital economy will open up huge opportunities for the state economy through online promotion, transactions and delivery of products to be done at minimum cost, and Sarawak has the opportunity to penetrate the local and global markets. (Bernama)

State Government’s Moves Set To Give Johor Economy A Boost

The Johor economy is forecast to continue to grow following several inititatives introduced by the state government in the state’s Budget 2018. Johor Menteri Besar, Datuk Seri Mohamed Khaled Nordin, said the initiative included the 482.38 hectares Pengerang Industrial Park in Kota Tinggi, which would be developed by the Johor Corporation, with a gross development cost of RM1.1 billion. He said the industrial park would benefit Kota Tinggi’s development activities, including generating investments of up to RM18 billion and create some 2,700 employment opportunities within five years. “This would also support and accelerate development in the area which previously has already experienced an economic surge following the national – interest mega project in the oil and gas industry – Pengerang Integrated Petroleum Complex,” he said. He said another initiative was to develop the Johor New Economic Committee under the Permodalan Darul Ta’zim Sdn Bhd which would be building the strategy and preparations to face the future economy which would be digital-oriented and absorption of ideas. (Bernama)

Singapore and Malaysia revitalise Southeast Asia’s IPO market in 2017 with blockbuster listings

Capital markets across Southeast Asia produced record-high capital raising activity in 10.5 months of 2017. 144 initial public offerings (IPOs) hit S$10.4 billion in total funds raised with a market capitalisation of S$33.9 billion according to data from Deloitte Singapore – the highest since 2014, reflecting positive listing decisions and investor confidence in Southeast Asian exchanges. The growth led by seven blockbuster listings includes two deals each in Malaysia and Singapore and three deals in Thailand.  Deloitte expects Singapore’s IPO market to close the year with more than 20 IPOs. In Malaysia, the IPO capital market raised a total of S$2.4 billion as at 15 November 2017, far exceeding 2016’s funds raised of S$377 million. Despite the lower number of IPO listings in recent years, Mr Gary Huang, Global IFRS & Offerings Services Leader, Deloitte Malaysia, expects this to improve. The demerger of Sime Darby Group will add two more listings for the year and initiatives by Bursa Malaysia to introduce the LEAP market (Leading Entrepreneur Accelerator Platform) for SMEs are expected to increase the number of IPOs. (Media Release)

 

 

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