Singapore Pledges to Cut Cash, Checks on Path to Digital Economy

Singapore Pledges to Cut Cash, Checks on Path to Digital Economy

Singapore pledges to cut cash, checks on path to digital economy  SINGAPORE (20 June 2018): Singapore is accelerating the shift toward digital payments by pledging to eliminate check usage by 2025 and slash cash withdrawals from automated telling machines. Both payment methods are declining in popularity, Education Minister Ong Ye Kung, who sits on the Monetary Authority of Singapore board, said in a speech on Wednesday night. To promote electronic fund transfers, the government-endorsed payments platform, called PayNow, will be extended to companies starting Aug. 13. Figure 1: Singapore is embracing technology to enhance its status as a regional financial hub and compete with other major cities including Hong Kong and London. — Bloomberg Singapore is embracing technology to enhance its status as a regional financial hub and compete with other major cities including Hong Kong and London. Competition at home is heating up as its largest bank DBS Group Holdings Ltd. vies with ride-hailing firm Grab Inc. for digital payments, while Chinese giants such...
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New Sarawak Ministry To Push Investments, International Trade

New Sarawak Ministry To Push Investments, International Trade

New Sarawak ministry to push investments, international trade KUCHING (19 May 2017): Sarawak’s new Ministry of International Trade and e-Commerce, created on May 7, will strive to make the state the investment destination of choice for investors. Datuk Seri Wong Soon Koh will be the minister in charge of the ministry and he will be assisted by Datuk Mohammad Naroden Majais. Addressing the state legislative assembly here yesterday, Wong said the ministry would plan, formulate, recommend and implement trade development and promotional policies for international trade, foreign direct investments (FDIs), e-commerce and international business collaboration. “We will plan, identify and seek export opportunities for local companies to help develop and enhance their position, regionally and globally, he said, adding that strategies and supportive policy guidelines would also be developed to strengthen competitiveness and conduciveness to attract FDIs. Wong said the ministry would establish global networking and collaborate with public and private sectors to strengthen trade relations and participate actively in regional and international business promotions,...
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MITeC Steps Up Activities To Promote Digitalisation and Digital Economy

MITeC Steps Up Activities To Promote Digitalisation and Digital Economy

MITeC steps up activities to promote digitalisation and digital economy MIRI (31 May 2018): The Ministry of International Trade and eCommerce (MITeC) is intensifying its activities this year to enhance the state’s efforts to embrace digitalisation and embark on the digital economy. MITeC assistant secretary Catherine Lee said they are targetting 24 programmes for eCommerce programmes alone to benefit 5,000 people. Figure 1: Lee (back row centre) poses with speakers, participants and organising committee members at the conclusion of the seminar. These included programmes and training, courses, workshops and incubators, National and International Conference on e-Commerce, local and International expo and showcasing financial assistance, Sarawak Marketing Development Grant (SMDG) and Sarawak eCommerce Grant “We hoped that through these proposed programmes, there is greater awareness on eCommerce for example, for “Online marketing workshop“ scheduled in February and July in Lawas, Serian, Miri, Sibu, Mukah, Limbang, Lundu and Kota Samarahan, the objectives are hands on teaching/learning on related topics such as copywriting, social media ads and Search...
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Dr M: Govt aiming to have new national car company

Dr M: Govt aiming to have new national car company

Dr M: Govt aiming to have new national car company TOKYO (11 Jun 2018): The new Government aims to have a new national car company now that Proton has been bought over by China’s Geely. Speaking during a dialogue at the 24th Nikkei Conference on the Future of Asia, Prime Minister Tun Dr Mahathir Mohamad said now that Proton was owned by Geely, it was no longer considered a national car. We are thinking of starting another national car - maybe with an Asian country,” he said here on Monday (June 11). Pressed on the country in mind, Dr Mahathir said: “Maybe Thailand, South Korea or even Japan.” [Source: "Dr M: Govt aiming to have new national car company" published by theStarOnline/Star Media Group Berhad]...
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New Joint Venture Set To Boost Tech-Transformation In Sarawak

New Joint Venture Set To Boost Tech-Transformation In Sarawak

New joint venture set to boost tech-transformation in S’wak KUCHING (1 July 2018): Sarawak will see about US$25 million (over RM100 million) in investment following the setting up of Andasar Bhd, a locally-incorporated consortium. Figure 1: Uzlov with the ‘uprail’ model, featured during a recent exhibition. The company, a joint venture (JV) between MHN Ventures Sdb Bhd of Sarawak and Adgex Ltd, which is a public-listed company from Australia that is looking into turning Sarawak as its regional base for Asean. Andasar, through expertise from Adgex, is looking at transferring four of its core technologies here — the ‘Uprail’ high-speed rail transportation system, the ‘Upline’ elevated pipeline system, the ‘greenBLAZE’ waste to energy system, and the ‘energyBrick’ electricity storage system. According to Adgex managing director Victor Uzlov, Andasar is looking at setting up its base in Sama Jaya Industrial and set up its local manufacturing and fabrication plant there, together with other facilities such as training and local management. “We look forward to participating and adding...
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Serba Dinamik Hits Record High of RM3.89

Serba Dinamik Hits Record High of RM3.89

Serba Dinamik hits record high of RM3.89 KUALA LUMPUR(July 26): Shares in Serba Dinamik Holdings Bhd hit a record high of RM3.89 this morning—its highest level since the group’s listing on Bursa Malaysia in February last year. Its share price of RM3.89 was 2.4% higher compared to its last closing price of RM3.80, and more than double of its initial public offering price of RM1.50. Last week, the group announced its first venture into Laos. The group had secured an engineering, procurement, construction and commissioning (EPCC) contract to build two hydro power plants in Laos, which will have the capacity to generate 30 megawatt (MW) of electricity for US$66.2 million, equivalent to RM268.8 million. The contract was awarded by Nam Taep 1,2,3 Hydropower Co Ltd to its wholly-owned subsidiary Serba Dinamik International Ltd, which is valid throughout the next 43 months or 3.6 years. The group also announced last week that Serba Dinamik International has proposed to subscribe for 51.81 million of new shares, equivalent...
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Usahawan muda digalak sertai ‘crowdfunding’

Usahawan muda digalak sertai ‘crowdfunding’

Usahawan muda digalak sertai ‘crowdfunding’ SIBU (18 May 2018): Usahawan muda digalakkan merebut peluang untuk menyertai pendanaan orang ramai atau ‘ crowd funding’ untuk memulakan perniagaan mereka dalam industri kecil dan sederhana (IKS). Presiden Jawatankuasa Usahawan Muda Dewan Perniagaan dan Perindustrian Cina (SCCCI) Dr Renco Yong berkata, usahawan muda dapat meningkatkan modal yang diperlukan daripada orang ramai. Gambar 1: REBUT PELUANG: (Dari kiri) Ting, Hii, Kueh dan Renco merakam kenangan selepas majlis penyerahan lesen pembiayaan di Babyland Cute House, Jalan Oya di Sibu, kelmarin. — Utusan Borneo (Sarawak) “Melalui pendanaan orang ramai, usahawan muda dapat meningkatkan modal yang diperlukan bergantung kepada keperluan mereka untuk membangunkan perniagaan mereka,” jelasnya. Menurut Renco, pendanaan orang ramai semakin popular di negara Singapura dan China dan mula dikenali ramai di Malaysia sejak kebelakangan ini. “Sudah tiba masanya kita memanfaatkan teknologi ini sebagai platform untuk menjalankan perniagaan dalam era globalisasi,” ujarnya kepada pemberita, kelmarin. Terdahulu Renco menyaksikan majlis penyerahan lesen pembiayaan orang ramai daripada wakil Alixco P2P Financing Ting Giek kepada Kueh Sui...
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