SC and ASIC Sign Innovation Cooperation Agreement to Establish Fintech Bridge
Securities Commission Malaysia (SC) has entered into an Innovation Cooperation Agreement with the Australian Securities and Investments Commission (ASIC) to further promote innovation in financial services in their respective markets. Under the agreement, SC and ASIC will work closely to share information on emerging trends and regulatory issues in digital finance. Both regulators will also facilitate referrals of innovative businesses seeking to operate in each other’s jurisdictions, as well as explore potential joint innovation projects relating to the application of new technologies.
Online hiring falls further in May
The overall online hiring in Malaysia fell further in May, reporting a 14 per cent year-on-year decline, according to the latest Monster Employment Index (MEI). The Monster Employment Index (MEI) is a gauge of online job posting activities compiled monthly by Monster.com. It records the industries and occupations that show the highest and lowest growth in recruitment activity locally. The Oil and Gas sector emerged the best-performing sector for the first time ever in May 2017, at 16 per cent year-on-year growth in online hiring. Similar to the last month, the Retail sector continued to fare the worst among all job sectors at -35 per cent year-on-year in May.
Malaysian Confectionery Manufacturers Target US Market
Two Malaysian companies which took part in the recent New York Fancy Food Show (NYFFS) 2017, have identified suitable distributors to expand their market reach to the United States (US). Manufacturers of confectionery products and first-time participants, Johor-based GPR Food Sdn Bhd and Penang-based Torto Food Industries (M) Sdn Bhd, showcased their products at the just-concluded three-day event. GPR Food, a 20-year manufacturer of cookies, shortbread and oatmeal among others, has already established its clientele base in Asia and the Middle East, its biggest markets. The company, however, aims to expand to the US, where it already has three distributors.
NanoMalaysia to Make NANOVerify Programme Mandatory By Year-End
NanoMalaysia Bhd, a company limited by guarantee under the Ministry of Science, Technology and Innovation, aims to make the NANOVerify Programme mandatory for nanotechnology product manufacturers by year-end. Chief Executive Officer, Dr Rezal Khairi Ahmad, said at the moment, NANOVerify, the first nanotechnology products/processes certification in Malaysia, was still regarded as a voluntary certification programme. “We are still in talks with the Domestic Trade, Co-operatives and Consumerism Ministry and several relevant agencies over the terms and conditions to make NANOVerify mandatory to ensure the validity of nanomaterials claimed by the manufacturers. “With the NANOVerified mark accredited under the programme, it could reassure the safety and quality of the nano products in the country,” he told Bernama recently. NANOVerify, launched in 2015, is a joint programme between SIRIM QAS International Sdn Bhd and NanoMalaysia, which awards the NANOVerified mark for companies which apply for certification for the processes/products with claims of nano-elements in the range of 1-100 nanometre.
Trend Micro launched $100mln corporate venture fund
Trend Micro Incorporated, a global leader in cybersecurity solutions, has announced the launch of a $100 million corporate venture fund to explore emerging technology markets. The venture fund is set up with the aim to nurture a portfolio of startups set at incubating ideas and cultivating hyper growth markets, such as the Internet of Things (IoT). In line with Trend Micro’s vision of making digital information exchanges safer for the world, the venture fund will offer companies support in a few key areas such as financial backing, access to its world-class global threat intelligence, strategic alliances including its channel consisting more than 28,000 partners. Apart from influencing Trend Micro’s cybersecurity solution planning, collaborations with these startups will also seek to uncover insights into several aspects such as emerging ecosystem opportunities, disruptive business models, market gaps and skillset shortages.
Alibaba Injects US$1 bln To Increase Stake In Lazada
Alibaba Group Holding Limited will invest approximately US$1 billion to increase its stake to approximately 83 per cent in Lazada Group, the leading e-commerce platform in Southeast Asia. Alibaba said the transaction demonstrated the continued success of Lazada’s business and Alibaba’s confidence in the growth potential of Southeast Asian markets and its commitment to the region as part of its global strategy. Alibaba, with some 51 per cent stake in Lazada at present, would purchase the shares at an implied valuation of US$3.15 billion for the company, reflecting a significant increase in Lazada’s value since Alibaba first acquired its majority stake in April 2016.