National eCommerce Forum Marks Another milestone in Government’s efforts to Drive National Digital Economy
The Ministry of International Trade and Industry organised the National eCommerce Forum and The National eCommerce Council today, themed “Embracing Digital Transformation”. The event projects the Government’s efforts to reach out to the eCommerce players along the value chain, particularly SMEs, on the importance of embracing digitalisation for their businesses to sustain themselves amid the challenging economic environment. To date, more than 1,000 interested SMEs have already pre-registered with the programme. Apart from providing the SMEs profile of their readiness, the platform also equips them with the necessary knowledge and skills to transform their current businesses to potential eCommerce exports. The platform currently houses over 70 online courses and is expected to grow to at least 200 courses by end of 2017.
International Trade and Industry Minister, YB Dato’ Sri Mustapa Mohamed said “eCommerce is growing rapidly in Malaysia as more people are getting connected to the internet and it has become extremely important in Malaysia’s digital economy agenda. SME development will remain as the key focus area under the Government’s digital transformation agenda.”
Since March 2017, MITI, SME Corp. Malaysia and Google have conducted a series of training and education programme throughout the country (Kuala Lumpur and Ipoh) called ‘MyGoGlobal’ to help local SMEs enhance their revenue growth by going digital. For the rest of the year the programme will also be extended to Pahang, Kelantan Sabah and Sarawak. To date the programme has trained 988 SMEs.
Bursa expects strong first half momentum in 2017 to carry forward to second half
Bursa Malaysia expects to see some of the strong momentum it enjoyed in the first half of this year to spill over into the second half of 2017. Its chief executive officer Datuk Seri Tajuddin Atan said this will be supported by a recovering economy, a healthier IPO market, and a return of inflows, which have helped the company post its highest first half revenue since listing in 2005. “The World Bank has revised our GDP forecast to 4.9% (from 4.3%). Just yesterday the International Monetary Fund revised its forecast (to 4.8%). We can’t be too pessimistic,” Tajuddin told reporters in Kuala Lumpur. The strong 1H net profit came amid an 8.5% growth in revenue to RM269.4 million from RM248.4 million a year ago, thanks to a 23.3% increase in revenue from securities trading — mainly driven by domestic trades.
On outlook of the IPO market, Datuk Seri Tajuddin said the company is “very happy” after having launched eight companies in 1H17 — including two billion-ringgit IPOs — adding that “a big one might come back to the market”, but did not name the company. Moving forward, Datuk Seri Tajuddin expects to incur higher operating costs via promotion and marketing to attract more retail investors, whose number in the capital market has grown relatively slower than institutional investors.
Bosch ended 2016 on positive note
Bosch, a leading global supplier of technology and services, ended its 2016 fiscal year with close to RM 610 million (133 million euros) in consolidated sales, making Malaysia the second largest revenue contributor for Bosch in Southeast Asia for the second consecutive year. Simon Song, Managing Director of Bosch Malaysia sees good opportunities for future business as the progressive growth of the IoT industry means momentous change and huge new potential for businesses. “In this area, Bosch is now making their products web-enabled and ready to provide customers transformative solutions that help to make a difference in enhancing the competitiveness of their businesses. This will be key to Bosch to further their growth in the country.”
AirAsia Indonesia, Philippines Listings By Q1 2018
AirAsia Bhd’s plans to list its Indonesian and Philippine subsidiaries are expected to make their debuts on the respective countries’ stock exchange latest by the first quarter (Q1) of next year. AirAsia Group Chief Executive Officer Tan Sri Tony Fernandes said AirAsia Indonesia’s progress had been a little more ahead than its Philippine counterpart but both were progressing well and en route for their debuts on the equities market.
MATRADE Urges Businesses To Capitalise on MSBDF Fund
The Malaysia External Trade Development Corporation (MATRADE) said many companies based in Malaysia and Singapore have yet to take advantage of the Malaysia-Singapore Third Country Business Development Fund (MSBDF) to expand their business. MATRADE Southern Region Director, Raphy Mohamad Radzi said the fund, which was established in 2004, currently stands at RM3.2 million. “In the beginning, allocation for the fund was RM2.5 million, jointly administered by International Enterprise Singapore and the Malaysia Investment Development Authority (MIDA) from July 2004 to May 24, 2012, until MATRADE took over MIDA’s role. “The fund aims to encourage Malaysian and Singaporean businesses to collaborate and identify business and investment opportunities in third world countries.” The fund is devoted to companies involved in six sectors – manufacturing, services, construction, trading, tourism and information technology and can be used to conduct joint missions, market research and feasibility studies.