Editor’s Choice: 9 November 2017

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KUALA LUMPUR, 9 Nov -- Perdana Menteri Datuk Seri Najib Tun Razak pada Persidangan Dewan Rakyat di Parlimen hari ini. --fotoBERNAMA (2017) HAK CIPTA TERPELIHARA
  • Start-ups Get 5+5 Tax Exemption
  • Taiwanese Investors Eyeing Investments In Halal Park
  • SME E-commerce Alliance To Secure Projects In S.E.A
  • BNM Maintains OPR At 3.00 Pct
  • September IPI Grew 4.7 per cent

 

Start-ups Get 5+5 Tax Exemption
Prime Minister, Datuk Seri Najib Tun Razak said the government provides various incentives, including tax exemptions for a period of 5 + 5 years to help start-up companies expand their business, including making international forays. He said the government through Malaysia Digital Economy Corporation (MDEC) has also implemented the Global Acceleration and Innovation Network (GAIN) programme to provide advisory services and expertise to potential local technology companies. “A total of 149 high-tech local companies have benefited from such programmes,” he said. Datuk Seri Najib added that the digital economy development programmes undertaken by MDEC had benefitted more than 194,000 entrepreneurs from January last year until September this year.

Taiwanese Investors Eyeing Investments in Halal Park
Taiwanese investors are keen to invest in Malaysia, particularly in local halal parks, given the abundance of halal ingredients available in the country which can benefit them in the long-run. Taiwan Halal Centre Strategic Marketing Department Project Manager Andrea Lou said Malaysia was one of the most important markets for Taiwanese businesses. Speaking at the Taiwan Expo in Kuala Lumpur, Lou said Taiwan businesses have been looking for partners in halal manufacturing, technicalities and ingredients. “We are also looking for local partners as we aim to penetrate the Chinese Muslim and Middle East markets,” she said.

SME E-commerce Alliance To Secure Projects In S.E.A
International Enterprise (IE) Singapore bands together small and medium enterprises (SMEs) in logistics, payments and platforms to win e-commerce projects in Southeast Asia. Three SMEs, namely Shopmatic, Red Dot Payment and iCommerce Asia, have teamed up to capture the growing e-commerce market in the region through integrating their e-commerce solutions. “The e-commerce landscape today is highly competitive, where the concept of ‘platform business models ‘ is increasingly common,” said Group Director Lifestyle Business Group, IE Singapore, Lee Yee Fung in a statement here. He said Singapore companies need to adopt new business models to compete effectively. “The e-commerce alliance allows companies with different strengths and specialised solutions to come together flexibly to provide comprehensive solutions to customers,” he added.

BNM Maintains OPR At 3.00 Pct
The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at 3.00 per cent, the central bank said. It said at the current level, the stance of monetary policy remained accommodative and given the strength of the global and domestic macroeconomic conditions, the MPC may consider reviewing the current degree of monetary accommodation to ensure the sustainability of the economy’s growth prospects. The central bank said local economic growth had become more entrenched, with both domestic and external sectors continuing to register strong performance while growth momentum was lifted by stronger spill overs from the external sector to the domestic economy as firms invested in productive capacity, raised wages and hired more workers.

September IPI Grew 4.7 per cent
The Industrial Production Index (IPI) grew 4.7 per cent in September 2017 compared with the same month of the previous year. The Department of Statistics said the expansion in September was supported by positive growth in all indices, namely manufacturing (5.7 per cent), mining (2.1 per cent) and electricity (2.2 per cent). Meanwhile, manufacturing sales continued to record a strong growth of 10.6 per cent, rising to RM65.4 billion compared with RM59.1 billion reported a year ago.

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