• Malaysia, Singapore committed to rail links regardless of political changes
  • MSIG introduces insurance for pets
  • BMW Group Malaysia Delivers 12,680 Vehicles in 2017
  • Shopee Targers US$5 Billion in GMV In 2018
  • MBSB To Provide RM700 Million Funding For 8 Rumawip Projects
  • Global carmakers’ electric push takes overall investment to US$90 billion

Commitment to new Singapore-Malaysia rail links regardless of any political changes
Singapore Prime Minister, Lee Hsien Loong said the bilateral agreement on the Johor Baru-Singapore Rapid Transit System Link (RTS Link) is something Singapore and Malaysia’s future administrations will inherit, “whoever is the government on either side”. The bilateral agreement on the RTS Link was signed in Singapore today, witnessed by Mr Lee and Malaysia Prime Minister Datuk Seri Najib Tun Razak. In a joint media release, Malaysia’s Land Public Transport Commission (SPAD) and Singapore’s Land Transport Authority (LTA) welcomed the signing, saying it signifies a firm commitment to an important project that will benefit both countries. “It captures the key points of agreement on the RTS Link project, including the technical, safety and security requirements, commercial, financing, procurement and regulatory frameworks, as well as customs, immigration and quarantine arrangements,” the release added.

“Paw-Tect” Your Pet
Dogs and cats have increasingly become extended members of their owners’ families and pet-related such as pet hotels, pet grooming and pet friendly parks are becoming more popular. With owners putting so much love, care and value into their pets, MSIG Malaysia is offering a range of benefits to help pet owners look after their furry friends in the event of illness or accident. Specific benefits include reimbursement of veterinary bills; reimbursement of purchase price or adoption fee when an accidental injury or illness results in the death of the pet; reimbursement of burial or cremation costs; reimbursement of advertising or reward expenses in the event that a pet goes missing; reimbursement for boarding kennel and cattery fees in the event that owner is hospitalised. It even provides third party coverage, providing assistance in the event that a pet is responsible for accidental damage or injuries to third parties. MSIG Pet Insurance is currently only available for microchipped cats and dogs aged between twelve weeks to nine years.

BMW Group Malaysia Delivers 12,680 Vehicles in 2017
BMW Group Malaysia achieved its finest performance in the country with a total of 12,680 units of BMW, MINI and BMW Motorrad vehicles delivered in 2017. This is the premium automaker’s seventh consecutive all-time high performance, achieving a segment leading growth of 16% as compared to the same period in 2016. The success of BMW Group Malaysia mirrors that of the BMW Group worldwide. Globally, the premium automaker achieved a new all-time sales high with a total delivery of 2,463,526 vehicles. The BMW brand grew by 18% in 2017, delivering a total of 10,618 BMW vehicles from 9,000 vehicles in 2016.

Shopee Aims to Garner Over US$5 Billion In GMV In 2018
Shopee, a leading e-commerce platform in Southeast Asia and Taiwan, aims to achieve more than US$5 billion in gross merchandise value (GMV) this year. Regional Managing Director lan Ho said the online marketplace bagged a total of US$5 billion in GMV in Singapore, Malaysia, Thailand, Taiwan, Indonesia, Vietnam, and the Philippines in 2017. “In annualised GMV, we have crossed the US$5 billion mark for Shopee and aim to grow as fast possible in 2018,” he told reporters in Kuala Lumpur. Ho also said Shopee plans to capitalise on Malaysia’s Digital Free Trade Zone (DFTZ) as the company has been in talks with post-aviation sectors and customs authorities. Currently Shopee has 200,000 sellers and achieved five million application downloads, making it the number one downloaded online shopping app on Android and iOS.

MBSB To Provide RM700 Million Funding For 8 Rumawip Projects
Malaysia Building Society Bhd. (MBSB) plans to rollout up to RM700 million in financing for the development of eight more Federal Territories Affordable Housing (Rumawip) projects. President and Chief Executive Officer, Datuk Seri Ahmad Zaini Othman said the total gross development value (GDV) of these projects would be RM2 billion. He said Bank Negara Malaysia’s cautiousness on the over-supply of shopping malls and high-end properties were real and MBSB planned to increase its business focus for the affordable housing segment.

Global carmakers’ electric push takes overall investment to US$90 billion
Ford Motor’s plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global carmakers that now totals US$90 billion and is still growing, a Reuters analysis shows. That money is pouring into a tiny sector that amounts to less than 1 per cent of the 90 million vehicles sold each year. With the world’s top carmakers poised to introduce dozens of new battery electric and hybrid petrol-electric models over the next five years – many of them in China – executives continue to ask: Who will buy all those vehicles? “We’re all in,” Ford Motor executive chairman Bill Ford Jnr said of the company’s US$11 billion investment, announced on Sunday at the North American International Auto Show in Detroit. “The only question is, will the customers be there with us?”