1.8 Million Jobs Created Between 2010-2016 under National Transformation Programme
Government policies such as the National Transformation Programme (NTP) have created 1.8 million jobs for youths between 2010 and 2016. Of this number, over one million were high-income jobs. Prime Minister Datuk Seri Najib Tun Razak said through the NTP, the Gross National Income increased by nearly 50 per cent, with poverty in Malaysia almost eradicated, in having reduced it to just 0.6 per cent. “We are firmly on the path to becoming a high-income nation.
Malaysia-China Auto Parts Makers Form Partnership
Globaltec Formation Bhd has formed a strategic alliance with China-based Ningbo Auto Components Industry Association (Ningbo AIA) to secure business collaborations and spur bilateral market prospects in both countries. The partnership was entered into via Globaltec’s wholly-owned subsidiary, AutoV Corporation Sdn Bhd. Ningbo AIA is a government body that represents over 200 enterprises from the automotive industry in Ningbo, a major port and industrial hub in east China’s Zhejiang province. Globaltec Group Executive Chairman, Datuk Seri Panglima Dr Goh Tian Chuan said the collaboration aimed to merge the Chinese research and development capabilities and financial strength with AutoV’s manufacturing capabilities, qualities and management strengths.
MITI Provides RM4.85 mln Matching Grant To PSDC
The Ministry of International Trade and Industry has provided RM4.85 million in matching grant to the Penang Skills Development Centre (PSDC) to buy new equipment for Industry 4.0 Centre of Excellence workshop upgrade. Its minister, Datuk Seri Mustapa Mohamed, said the grant, provided via the Malaysian Investment Development Authority, was important to support the growth of the electrical and electronics; machinery and equipment; medical devices; and, aerospace ecosystems. “As an industrial skills training organisation, PSDC can move industry players in transforming the field of manufacturing and services in a more efficient manner by focusing on the new technology concept, investment costs for heavy machinery,” he said.
IATA Survey Shows Airlines Reporting Higher Profits In Q2
More than three-quarters of airline Chief Financial Officers and heads of cargo indicated that profitability increased in the second quarter of 2017 compared with the same period in 2016, according to a quarterly airline business confidence index survey conducted by the International Air Transport Association (IATA). Seventy-seven per cent of respondents reported that profitability increased in, year-on-year, terms in the second quarter of this year, more than double the corresponding share in the previous survey and the highest proportion in almost seven years. The passenger side remained consistent with the robust demand backdrop seen during the opening months of this year, with 71 per cent of the respondents reporting a year-on-year increase in passenger traffic in Q2 2017, which resulted in the backward-looking weighted-average score recovering to a five-quarter high. “Eighty-one per cent of respondents expect passenger volume to rise further over the year ahead – the highest proportion since the October 2013 survey,” it said in a statement.
SIA reports 8.6% fall in Q1 net profit
Singapore Airlines (SIA) reported a 8.6 per cent drop in net profit for the first quarter of the 2017-18 financial year compared to a year ago. Earnings for the three-month period came in at S$235 million, down S$22 million from last year. The fall was attributed to the absence of a one-off gain from SIA Engineering last year.