Malaysia Halal Council Framework By Year-end
The Malaysia Halal Council expects to launch its framework by year-end. The Council will focus on empowering local halal companies, making them visible globally and increasing the participation of Bumiputera entrepreneurs. Halal Industry Development Corporation (HDC) Chief Executive Officer Datuk Seri Jamil Bidin said the framework would drive Malaysia beyond its Global Halal Hub status in 2020. This framework is under the Master Plan 2.0 for the development of the nation’s halal industry from 2018-2030.
Tech Firms To Overtake Traditional Banks
Banking industry expert, Brett King, has predicted that technology companies will overtake traditional banks to become the world’s largest financial institutions by 2025. “By 2025, the biggest bank in the world will not be any of the banks today, but technology companies providing financial services that are integrated in peoples’ life,” said King, who is also the Founder and Chief Executive Officer of the New York-based mobile-banking service, Moven. Last year, King said, China’s electronic payment gateway, Alipay, processed US$17 billion payment through mobile phones in one day on its Singles’ Day shopping spree that falls on November 11 yearly.
Japanese investment in Malaysia expected to increase 30 percent this year.
The Japanese Chamber Of Trade And Industry In Malaysia (JACTIM) expects Japanese investment in Malaysia to increase by 30 per cent this year. JACTIM President Toshihiko Todokoro said that Japanese companies will expand operation in Malaysia if political stability is maintained, since it is important for those companies, especially new investors. The latest data shows that Japanese investment in Malaysia is concentrated on the manufacturing sector, notably in the electrical and electronics industry. Half of about 1,400 Japanese companies operating in the country are manufacturers. Japanese firms’ cumulative investment in Malaysia is estimated at RM52 billion (US$12 billion).
Malaysia will house the world’s first bio-based chemical manufacturing plant by 2019
The Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) announced that Malaysia will be home to the world’s first bio-based chemical manufacturing plant by 2019. Bioeconomy Corporation senior vice-president of BioIndustrial, Zainal Azman Abu Kassim, said the ground-breaking ceremony for the Verde Palm Plant will take place next month. “The construction of the plant on 20,000 square feet of land in Johor Baru will take between 18 and 24 months.” The Verde Palm Plant will use palm oil to produce 10,000 metric tonnes of Dodecanedioic Acid (diacid) per year. Diacid, which is a renewable bio-based chemical used in automotive parts and toothbrush bristles, to cosmetics and fragrances, will be an alternative to typical petroleum-derived chemicals, Zainal said.
Trend Micro launches US$100mil venture fund
TREND Micro Incorporated, a leader in cybersecurity solutions, announces the launch of a corporate venture fund to explore emerging technology markets. With an initial investment of US$100 million, this venture fund will allow Trend Micro to nurture a portfolio of startups that are incubating ideas and living at the epicentre of hyper growth markets, such as the Internet of Things (IoT). According to Gartner estimates, 26 billion devices will be connected to the Internet by 2020.