News Scan: 11 April 2018

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KLANG 20 FEBRUARY 2017. Pekerja melakukan kerja menghasilkan produk berasakan getah di Kilang Doshin Rubber Product (M) Sdn Bhd di Jalan Rantau Panjang, Klang.NSTP/ROSLIN MAT TAHIR
  1. Malaysia’s Industrial Production Index up 3 per cent in February 2018
  2. 1,000 media practitioners gather for Hawana 2018
  3. China to open financial markets amidst threats of US trade war
  4. Corruption in Singapore remains low
  5. Home-grown entrepreneurs honoured for business legacy and community impact
  6. Singapore based co-living startup, Hmlet to launch largest co-living space in Southeast Asia
KLANG 20 FEBRUARY 2017. Pekerja melakukan kerja menghasilkan produk berasakan getah di Kilang Doshin Rubber Product (M) Sdn Bhd di Jalan Rantau Panjang, Klang.NSTP/ROSLIN MAT TAHIR

Malaysia’s Industrial Production Index up 3 per cent in February 2018
Malaysia’s Industrial Production Index (IPI) expanded by 3.0 per cent in February 2018 as compared with the same month of the previous year. The Department of Statistics said the expansion in February was supported by the positive growth in the manufacturing index by 4.7 per cent and the electricity index by 2.8 per cent. The IPI in January 2018 was revised to 5.4 per-cent year-on-year, said the department. On a yearly basis, the manufacturing sector output grew by 4.7 per cent in February after registering a growth of 6.9 per cent in January.

1,000 media practitioners gather for Hawana 2018
About 1,000 media practitioners in Malaysia and several Asean member countries, gathered in Kuala Lumpur today for the inaugural National Journalists’ Day (Hawana) celebration. Themed ‘Championing the People, Building the Nation’, the celebration started with the ‘Wacana Hawana’, programme involving discussion among editors and eminent local media icons on the future importance of the media in Malaysia and the issuance of a declaration that underlines the direction of the journalism and media industry in the country. Hawana is organised with the main objective of giving due recognition to the role of the media in developing the country and strengthening social unity.

China to open financial markets amidst threats of US trade war
Beijing unveils financial opening moves, boosts Hong Kong stock link, plays down yuan talks. China will quadruple the daily quota on the Hong Kong-Shanghai and Hong Kong-Shenzhen stock link schemes from May 1. Central bank governor Yi Gang told a session at the Boao Forum for Asia in Hainan that the move was part of efforts to open up the nation’s financial sector and link Hong Kong more closely with mainland markets. The daily southbound quota of the Hong Kong-Shanghai and the Hong Kong-Shenzhen stock link will be increased to 42 billion yuan (US$6.67 billion) from the current 10.5 billion yuan. The daily northbound quota of the two stock links will be increased to 52 billion yuan from the current 13 billion yuan.

Corruption in Singapore remains low
The Transparency International Corruption Perceptions Index 2017 has ranked Singapore as the 6th least corrupt country in the world. Singapore has also maintained its first-place in the 2017 Political and Economic Risk Consultancy (PERC) annual survey on corruption. In 2017, the Corruption Reporting and Heritage Centre (CPIB) received a total of 778 complaints, a 3.7% drop from the 808 complaints received in 2016. The number of cases registered for investigation by the CPIB also fell slightly from 118 cases in 2016 to 103 cases in 2017, which is a new all-time low.

Home-grown entrepreneurs honoured for business legacy and community impact
Two South Australian business innovators are to receive Honorary Doctorates from Flinders University for their outstanding entrepreneurship and investment in the local business community. Frank Seeley AM, founder of Seeley International, and Anthony Kittel, Chief Executive Officer of REDARC Electronics, are both home-grown success stories, coming from humble beginnings to become giants of Australian manufacturing. Frank Seeley is an entrepreneur, innovator, businessman and philanthropist who started Australia’s largest manufacturer and exporter of heating and cooling products, Seeley International, in his home garage in 1972. Anthony Kittel is the owner and Chief Executive Officer of REDARC Electronics, a firm that he took over in 1997 when it still operated out of a tin shed and employed only eight people. Today REDARC is a $50 million business that employs 190 people and distributes world-class electronics products across Australia and Europe.

Singapore based co-living startup, Hmlet to launch largest co-living space in Southeast Asia
Singapore based co-living startup, Hmlet, is set to launch its second building in Singapore dedicated entirely to co-living. Located in the heart of District 11, Hmlet @ Sarkies, will be the largest co-living space in Southeast Asia. The project is being launched in partnership with real estate investment firm ANB Investment, which is helmed by the Pangestu family of Indonesia. The 30,000 square foot condominium is the second sole co-living building in Hmlet’s portfolio proceeding Hmlet @ Joo Chiat, which is home to 80 members. Looking to the future, CEO and Co-Founder, Yoan Kamalski said, “as well as working on expanding our presence in our home base, Singapore, we are also looking to expand our portfolio in markets such as Hong Kong and Indonesia and look forward to what 2018 will bring for Hmlet. We currently have capacity for 300 members and are excited to be on track to double this by the end of the year.”

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