News Snippets: 12 July 2018

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Highlights:

  1. South Korea seeks further collaboration with Malaysia
  2. RAM Credit Health Month to Boost Personal Credit Health Awarenes
  3. Singaporean SMEs seek more opportunities for international trade
  4. TM introduces 30 Mbps Unifi plan at RM79 for B40

South Korea seeks further collaboration with Malaysia
South Korean Ambassador to Malaysia, Dr Toh Kyung Hwan said his country is seeking to collaborate further with Malaysia under its New Southern Policy for the benefit of both countries. He said the policy, unveiled in November last year by President Moon Jae-in, matches the Look East Policy of Prime Minister Tun Dr Mahathir Mohamad. “Malaysia has many qualified, highly-skilled workers compared with its neighbouring countries, and we can work together in various areas such as rail transportation, the Fourth Industrial Revolution, smart cities, and biotechnology,” he told reporters in Kuala Lumpur. Dr Toh also expressed hope that closer government-to-government ties could be formed between his country’s Ministry of Land, Transportation and Infrastructure and Malaysia’s Ministry of Transport.

RAM Credit Health Month to Boost Personal Credit Health Awareness
RAM Credit Information Sdn. Bhd. (RAMCI), a leading credit reporting agency, today launched the nation’s first-ever Credit Health Month in a move to encourage more Malaysians to proactively check their credit health, by offering a complimentary 3-month access to credit score monitoring. Speaking at the launch RAMCI’s Chief Executive Officer, Dawn Lai said, “July is Credit Health Month and this is part of RAMCI’s public awareness programme to empower Malaysians to take control of their financial health through active monitoring of their credit score. In order to facilitate this, we are giving all Malaysians a complimentary 3-month trial of the JagaMyID package to experience and understand the benefits of a credit report and how a credit score reflects one’s financial standing.” RAMCI shared that the Credit Health Month will be an on-going annual awareness programme. For this inaugural year, individuals who opt for their complimentary JagaMyID package will receive a free 3-month trial which includes credit information profile comprising an overview of an individual’s credit portfolio, three (3) months monitoring of their credit health with monthly updates of Central Credit Reference Information System (CCRIS) profile with credit score changes and lastly, timely alerts on possible identity theft.

Singaporean SMEs seek more opportunities for international trade
More than three quarters (77%) of Singaporean SMEs who responded to ACCA’s 2018 survey participate in some form of international trade reaffirming its reputation as a major financial hub for the Asian Pacific region. However, 43% of SMEs they would still like to receive more information and support about new opportunities to so internationalise, suggesting there is further room for growth, according to new research. Growing globally, a report from ACCA (the Association of Chartered Certified Accountants) surveyed small and medium sized businesses (SMEs) and small and medium-sized accounting practices (SMPs) around the world to identify levels of participation in and appetite for international trade. “Internationalisation can potentially bring a range of growth benefits for both SMEs and the broader economy, whilst also driving productivity,” explained Ben Baruch, head of SME policy at ACCA. The report identified that the most commonly identified barrier to international trade among Singaporean small businesses was competition (34%).  Respondents felt that the most helpful measures for enabling more SMEs to participate in global trade were providing more information/ support on trade opportunities (43%), and securing improved or new trade agreements (43%). As chair of ASEAN, Singapore has committed to connect ASEAN’s economies seamlessly in a network of smart cities. It has also pledged to focus on strengthening the region’s resilience and ability to innovate, using digital technology to deal with challenges that cut across national boundaries; including a single digital market across ASEAN. It is hoped these digital innovations will boost SMEs’ ability to embark on e-commerce to complement the physical trade of goods and services.

TM introduces 30 Mbps Unifi plan at RM79 for B40
Telekom Malaysia Bhd. is introducing an affordable 30 megabits per second (Mbps) unifi plan at RM79 per month for the B40 (Bottom 40) household income segment. The company is also introducing three upgrade plans for existing customers with up to 10 times the current speed. Acting Group Chief Executive Officer Datuk Bazlan Osman said the new plans were in line with the government’s aspiration to provide cheaper broadband at higher speed. “In moving towards a digital and creative-led economy, it is imperative that Malaysia scales up to higher broadband speeds to enable the endless possibilities that technology and digital lifestyle can bring,” he told reporters in Kuala Lumpur. He said the 30Mbps plan is a broadband-only plan for households with income of less than RM4,500 per month, representing a 56 per cent reduction to the current plans with the same speed.

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