Highlights:

  1. Police arrest seven men over scuffle at temple
  2. MATRADE to promote global entrepreneurship culture
  3. Visa Partners PLUS to make toll payments seamless
  4. MyEG makes foray into Indonesia
  5. SC Revises ETF Guidelines to Boost Retail Participation
  6. Asia Pacific’s Healthcare Organizations Track Business Improvements of up to 21% due to Digital Transformation

Police arrest seven men over scuffle at temple

The police have arrested seven men and have given the assurance of an “aggressive investigation” into and the arrest of those involved in a scuffle at a Hindu temple in USJ25 in Subang early today. They arrested the seven following the incident which began at about 2 am at the Sri Maha Mariamman Temple. Selangor Police chief Datuk Mazlan Mansor warned all quarters against taking the law into their own hands and advised the people to remain calm to enable the police to conduct their investigation. He said at a media conference in Subang that two of the men were arrested while they sought treatment at the Serdang Hospital for injuries sustained in the incident. “Eighteen cars and two motorcycles were torched in the incident. A police patrol car was also damaged by stones thrown during the incident.” He added that calm had been restored in the vicinity of the temple where about 700 policemen from the Federal Reserve Unit (FRU) and several other units were being stationed. Datuk Mazlan said a preliminary investigation indicated that the rioting was caused by provocative acts between two groups which were in the vicinity of the temple. “About 50 men were in the compound of the temple and a group of men was outside. They traded insults that led to the riot,” he said.

MATRADE to promote global entrepreneurship culture

The Malaysia External Trade Development Corporation (MATRADE) will be organising its inaugural Youth Export Day 2018 next month as an initiative to encourage youth active participation in international trade. MATRADE said the event would be an ideal platform to boost Malaysian youth’s awareness in international trade and on the importance of exporting as part of their business plan as early as possible. In a statement today, Chief Executive Officer Dr Mohd Shahreen Zainooreen Madros said the initiative would provide an avenue for youth under 40 to congregate and expand their business network.

Visa Partners PLUS to make toll payments seamless

Global payment technology firm Visa has joined hands with PLUS Malaysia Berhad in the PLUS RFID programme, a pilot public programme to modernise toll payments in Malaysia. Through this partnership, Visa will be sharing its technological expertise and know-how in contactless digital payments to the programme, which will offer an open payment system at the Penang Bridge, Butterworth-Kulim Expressway (also known as BKE) and Jitra toll plazas beginning 15 December 2018. PLUS RFID features an open payment system which offers flexibility and freedom for Malaysian drivers to pay toll via credit and debit cards. Ultimately, PLUS hopes this will lead to lesser congestion at the toll plazas by minimising delays caused by insufficient balance or failure to top up. The PLUS RFID tag, which is directly linked to drivers’ credit and debit card accounts, will be given free to Malaysian drivers participating in the public pilot programme at Penang Bridge, BKE and Jitra which kicks off 15 December 2018.According to the Visa Consumer Payment Attitude Survey 2018, four out of five drivers (80 per cent) would consider using their credit or debit cards to pay for toll charges, with almost half of them (43 per cent) saying they would use their credit or debit cards as their primary mode for toll payments. Furthermore, seven out of 10 drivers say that paying directly using their credit/ debit card for toll payments is a more convenient payment method. Malaysian drivers planning to participate in this public pilot programme up north can register at www.plusmiles.com.my/rfid. Upon registration, drivers will be advised to visit designated PLUS RFID Fitment Centres at Penang Bridge and BKE starting from 15 December onwards. PLUS is giving out 10,000 free PLUS RFID tags for frequent drivers on Penang Bridge, BKE and Jitra toll plazas.

MyEG makes foray into Indonesia

My E.G. Services (MyEG), through its wholly-owned sub-subsidiary, MY EG (Indonesia) has signed a Memorandum of Understanding (MoU) with PT Cartenz Technology Indonesia (Cartenz) to invest in the Indonesian leading e-Government provider. The strategic partnership, subject to the fulfilment of relevant terms and conditions, will see MyEG investing US$10 million (US$1=RM4.19) for up to 40 per cent interest, said MyEG in a statement following the signing of the MoU here today. It will also see MyEG and Cartenz jointly implementing a system which conducts real-time monitoring of business transactions for tax computation purposes across Indonesia. MyEG said Cartenz has installed the tax monitoring system in some 5,000 business outlets to-date, and has provided its tax revenue system to 76 local governments, including Jakarta and Bali.

SC Revises ETF Guidelines to Boost Retail Participation

The Securities Commission Malaysia (SC) today revised its Guidelines on Exchange Traded Funds (ETFs), allowing for the issuances of a more diversified range of ETFs in the market. These include futures-based ETFs, synthetic ETFs, physical commodity ETFs and smart beta ETFs. The introduction of an array of ETFs aims to promote competitive growth and facilitate product innovation in the market, providing new investment opportunities and exposure for investors with varying risk appetites. The SC said in a statement that these enhancements are in tandem with global trends, with the Asian ETF market expected to see an annual growth rate in assets of 18 percent by 2021. Currently, Malaysia has ten listed ETFs with a combined market capitalisation of about RM2.03 billion, as at October 2018. The statement added that futures-based ETFs, such as Leveraged and Inverse (L&I) ETFs, will pave the way for a more cost-effective and transparent channel for investors to access the traditionally sophisticated futures market. Leveraged ETFs use futures contracts to provide a multiple of the underlying index’s daily return (positive or negative) while Inverse ETFs allow investors to gain from downward market. Due to the complexity of the L&I ETFs, prospective retail investors must meet certain pre-qualification criteria before they can invest in these products. First time retail investors must undergo an e-learning module developed by Bursa Malaysia as well as a performance simulator provided by management companies of L&I ETFs before they can invest in L&I ETFs.

Asia Pacific’s Healthcare Organizations Track Business Improvements of up to 21% due to Digital Transformation

Healthcare organizations embracing digital transformation have seen improvements of between 14% to 21% in patient outcomes and disease prevention, as well as patient experience, integrated care coordination, cost reductions, and innovation of care teams, according to new findings released from a joint Microsoft-IDC Asia/Pacific study. The 159 respondents surveyed for “Unlocking the Economic Impact of Digital Transformation in Asia Pacific” identified those five areas as benefiting the most from digital transformation initiatives. They also expect to reap further enhancements of at least 30% by 2020, with integrated care coordination expected to see the biggest gain. According to the Study, digital transformation could potentially double the improvements of integrated care coordination by 2020. It means that we can expect a substantial enhancement in intelligent healthcare continuum, including preventive care, diagnosis and treatment, home and elderly care in future. The Study shows that healthcare leaders in the region are strongly focused on patients’ healthcare journeys, as they have identified three patient-related metrics as their top digital transformation key performance indicators (KPIs):

  1. Process and Service Effectiveness: How an organization is improving upon its existing process and service delivery to ensure patients are engaged effectively
  2. Patient Advocacy: Whether patients are referring their preferred healthcare organization to their peers, or are advocating their preferred service provider
  3. Data Capitalization: How an organization is leveraging data within the organization to develop new products and services to improve healthcare delivery

Respondents from the Study identified the emergence of disruptive technology as a top business concern today. The rise of Artificial Intelligence, for example, will shift the paradigm of care for healthcare organizations in the short term. In fact, by 2019, IDC predicts that 40% of digital transformation initiatives will be supported by Artificial Intelligence/Cognitive capabilities, providing timely, critical insights for new operating and monetization models in Asia Pacific (excluding Japan).