malaysia - Banking & Finance - News

Sarawak Government has not Officially responded on the RM1 Loan Offer - MOF

KUALA LUMPUR, Jul 6 (Bernama) - The Sarawak state government has yet to provide any official feedback to the Federal government on the proposed loan offer, amounting to RM1 billion, which will be allocated for repairs of dilapidated schools in the state.
Date: 06 July 2019; Type: Industry Updates; Source: Bernama

Trio fined RM2,200 for putting up 'Ah Long' Ad

KUANTAN, Jul 3 (Bernama) - Three men were each slapped with RM2,200 fine by the magistrate's court here today after pleading guilty to putting up advertisements of an illegal money lending business last week. Magistrate Nor Azizah Aling also ordered Lee Chong Yau, 29, Fon Chong Sheng, 22, and Gan Hong Ren, 19, to serve a seven-month prison sen ...
Date: 03 July 2019; Type: Legal News; Source: Bernama

BNM to establish Financial Threat Intelligence Platform

KUALA LUMPUR, Jun 17 (Bernama) - Bank Negara Malaysia (BNM), together with the financial industry, is in the process of establishing a Financial Threat Intelligence Platform. Its governor Datuk Nor Shamsiah Mohd Yunus said the platform would collate, analyse and disseminate real-time information on cyber threats and trends to strengthen the de ...
Date: 17 June 2019; Type: Legal News; Source: Bernama

Bursa Malaysia seeks Feedback on Proposed Rule Amendments for CDS eServices

KUALA LUMPUR, May 31 (Bernama) - Bursa Malaysia Bhd has issued a consultation paper seeking public feedback on the proposed amendments to the Rules of Bursa Malaysia Depository Sendirian Bhd (Bursa Depository) to facilitate a suite of central depository system (CDS) eServices for individual depositors. The features for the new CDS eServices wi ...
Date: 31 May 2019; Type: Legal News; Source: Bernama

SC revises Guidelines for Property Crowdfunding

KUALA LUMPUR, May 17 (Bernama) - The Securities Commission Malaysia (SC) has revised its Guidelines on Recognised Markets to introduce new requirements to facilitate the new Property Crowdfunding (PCF), said Chairman Datuk Syed Zaid Albar. He also announced the registration of eight new Recognised Market Operators (RMO) comprising three equity ...
Date: 17 May 2019; Type: Legal News; Source: Bernama

BNM opens up Dynamic Hedging Scheme for Trust Banks, Global Custodians

KUALA LUMPUR, May 16 (Bernama) - Bank Negara Malaysia (BNM) is opening up the dynamic hedging programme for trust banks and global custodians on behalf of their clients effective immediately.
Date: 16 May 2019; Type: Legal News; Source: Bernama

MoF sets up Debt Management Office

KUALA LUMPUR, May 15 (Bernama) - The Ministry of Finance has set up the Debt Management Office (DMO) to review and manage the government’s debt and liabilities.
Date: 15 May 2019; Type: Industry Updates; Source: Bernama

BNM appoints Two External Members to Monetary Policy Committee

KUALA LUMPUR, Apr 29 (Bernama) - Bank Negara Malaysia (BNM) has reappointed Professor Dr Yeah Kim Leng and appointed Datuk Dr Gan Wee Beng as external members of its Monetary Policy Committee (MPC) effective April 1, 2019.
Date: 29 April 2019; Type: Industry Updates; Source: Bernama

Proactive Measures for smoother Financial Market, Dewan Negara told

KUALA LUMPUR, Apr 25 (Bernama) - The government has taken several proactive measures to ensure a smoother financial market, the Dewan Negara was told today. Deputy Communications and Multimedia Minister Eddin Syazlee Shith, who was representing the Finance Ministry during Question Time said the measures were to ensure adequate liquidity, resil ...
Date: 25 April 2019; Type: Legal News; Source: Bernama

Consumer Credit Act Drawn-up to provide Syariah-Compliant Loans

KUALA LUMPUR, Apr 11 (Bernama) - The Housing and Local Government Ministry is drawing up the Consumer Credit Act which would ensure consumers get loans from syariah-compliant loan companies, the Dewan Rakyat was told today. Its minister Zuraida Kamaruddin said a townhall session was held with various government agencies to get their feedback o ...
Date: 11 April 2019; Type: Legal News; Source: Bernama

Federal Court rules Bank Negara SAC Findings Binding on Civil Courts

PUTRAJAYA, Apr 10 (Bernama) - The Federal Court in a 5-4 majority decision held that Bank Negara Malaysia's Shariah Advisory Council’s (SAC) findings on Islamic finance is binding on Civil Courts.
Date: 10 April 2019; Type: Legal News; Source: Bernama

SSER fined RM18 Mln for infringing BNM Conditions over Pipeline Projects

KUALA LUMPUR, Apr 5 (Bernama) - Suria Strategic Energy Resources Sdn Bhd (SSER), a subsidiary of the Ministry of Finance which carried out two petrochemical and gas pipeline projects worth RM9.4 billion was today fined RM18 million by the Sessions Court here today for failing to comply with Bank Negara Malaysia (BNM) conditions.
Date: 05 April 2019; Type: Legal News; Source: Bernama

BNM to ensure SMEs continue to have access to financing

KUALA TERENGGANU, Apr 5 (Bernama) - Bank Negara Malaysia (BNM) will continue to improve cooperation with the finance industry to ensure entrepreneurs who are qualified and in need can obtain financing.
Date: 05 April 2019; Type: Legal News; Source: Bernama

Dewan Rakyat passes RM19.6 Billion Supplementary Budget

KUALA LUMPUR, Apr 4 (Bernama) - The Dewan Rakyat today approved the supplementary budget of RM19.6 billion proposed by Finance Minister Lim Guan Eng. The approval came after the third reading of the Supplementary Supply Bill (2018) and a motion on the First Supplementary Development Expenditure 2018 in front of Speaker Datuk Mohamad Ariff Md Y ...
Date: 04 April 2019; Type: Legal News; Source: Bernama

BNM calls for Comprehensive Reform of Employment Sector

KUALA LUMPUR, Mar 27 (Bernama) - Bank Negara Malaysia (BNM) has called for a comprehensive reform of the country’s employment sector to attract quality investments that can generate more high-skilled jobs and offer better salaries. Governor Datuk Nor Shamsiah Mohd Yunus said currently, workers in Malaysia are not paid equitably despite p ...
Date: 27 March 2019; Type: Legal News; Source: Bernama

SC allows 22 Firms to operate Digital Asset Exchange after March 1

KUALA LUMPUR, Mar 6 (Bernama) - The Securities Commission (SC) has permitted 22 companies to continue operating a digital asset exchange after March 1, 2019.
Date: 06 March 2019; Type: Legal News; Source: Bernama

SC imposes Ban on Firm, Partners for breaching Auditing Standards

KUALA LUMPUR, Mar 6 (Bernama) - The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has banned McMillan Woods Mea (AF 001995) and two of its partners, Mea Fatt Leong and Wong Joo Hua, from accepting clients and auditing any public interest entities or schedule funds for 12 months, effective Feb 14, 2019.
Date: 06 March 2019; Type: Legal News; Source: Bernama

BNM to launch Risk Management Policy to tackle Cybercrime

KUALA LUMPUR, Feb 19 (Bernama) - Bank Negara Malaysia (BNM) will be launching its Risk Management in Technology policy in June this year to provide guidelines, especially for financial institutions, to combat the rise in cybercrime. CyberSecurity Malaysia chief executive officer Datuk Amirudin Abdul Wahab said more than 10,000 cases of cybercr ...
Date: 19 February 2019; Type: Legal News; Source: Bernama

SC reviews Proposals to spur Venture Capital Industry

KUALA LUMPUR, Feb 11 (Bernama) - The Securities Commission (SC) is reviewing eight recommendations to spur the venture capital (VC) industry including making public VCs more commercially driven and liberalising VC tax incentives.
Date: 11 February 2019; Type: Industry Updates

New Cryptocurrency for Online Gaming

KUALA LUMPUR, Jan 31 (Bernama) - Five Colors Technologies Ltd has announced that new cryptocurrency, Five Colors Coin (FCC), is to become e-sports money and will be listed on CoinBene with the initial exchange offering (IEO) carried out today.  
Date: 31 January 2019; Type: Industry Updates; Source: Bernama

INDUSTRY UPDATES

Guidebook on Parliamentary Constituencies launched

KUALA LUMPUR, Jul 17 (Bernama) - Dewan Rakyat Speaker Datuk Mohamad Ariff Md Yusof today launched Wakil Kita di Parlimen, a 228-page guidebook containing relevant information on all the 222 parliamentary constituencies.

Read More

INDUSTRY UPDATES

Students among Plaintiffs in Lawsuit over Sungai Kim Kim Pollution

JOHOR BAHRU, Jul 17 (Bernama) - Thirty-four students are among 171 individuals who are suing the Johor state government, Menteri Besar Datuk Osman Sapian and 10 others over the pollution in Sungai Kim Kim near Pasir Gudang last March.

Read More

INDUSTRY UPDATES

Chief Justice heads Penang Honours List

GEORGE TOWN, Jul 12 (Bernama) - Chief Justice Datuk Tengku Maimun Tuan Mat heads the list of 877 recipients of state honours and honorary medals in conjunction with the 81st birthday of the Yang Dipertua Negeri of Penang Tun Abdul Rahman Abbas.

Read More

INDUSTRY UPDATES

Prosecution failed to serve Summons on Shahrizat's Children, Court sets new Mention Date

KUALA LUMPUR, Jul 12 (Bernama) - The Sessions Court here today set Aug 5 for mention of a lawsuit filed by the Companies Commission of Malaysia (CCM) against two children of former Women, Family and Community Development Minister Tan Sri Shahrizat Abdul Jalil in connection with several offences allegedly committed by their company.

Read More

INDUSTRY UPDATES

Bill to increase Sabah State Seats to be tabled on July 17

KOTA KINABALU, Jul 11 (Bernama) - Sabah Chief Minister Datuk Seri Mohd Shafie Apdal is confident the Bill for the additional 13 seats, to increase the number of state seats from 60 to 73, will be approved when it is tabled in Parliament on July 17.

Read More

INDUSTRY UPDATES

IRB records 486,360 Cases of Voluntary Tax Declaration

KUALA LUMPUR, Jul 8 (Bernama) - The Inland Revenue Board of Malaysia (IRB) has recorded 486,360 cases of voluntary tax declaration under the special voluntary declaration programme (PKPS) as of June 23.

Read More

INDUSTRY UPDATES

Sugar Tax: SME Traders can file Postponement Appeal

PARIT BUNTAR, Jul 7 (Bernama) - Small and Medium Enterprise (SME) traders affected by the sugar tax on sweetened drinks which came into effect this month, can file a postponement appeal to the relevant authorities.

Read More

INDUSTRY UPDATES

Sarawak Government has not Officially responded on the RM1 Loan Offer - MOF

KUALA LUMPUR, Jul 6 (Bernama) - The Sarawak state government has yet to provide any official feedback to the Federal government on the proposed loan offer, amounting to RM1 billion, which will be allocated for repairs of dilapidated schools in the state.

Read More

INDUSTRY UPDATES

Government offers Tax Incentives, grants to boost Participation in Expo 2020 Dubai

PUTRAJAYA, Jul 5 (Bernama) - The government has approved tax incentives and grants to encourage potential participating and contributing companies in the upcoming Expo 2020 Dubai.

Read More

INDUSTRY UPDATES

Airbnb wants clearer Guideline on Tourism Tax

KUALA LUMPUR, Jul 2 (Bernama) -- Online hospitality service brokerage company, Airbnb Inc urged the government to provide a clearer guideline on tourism tax for its type of business.

Read More

INDUSTRY UPDATES

CUEPAC urges Government to review Minimum Wage

KUALA TERENGGANU, Jun 30 (Bernama) - The Congress of Unions of Employees in the Public and Civil Services (CUEPACS) has urged the government to review the minimum wage in an effort to reduce the people’s cost of living.

Read More

INDUSTRY UPDATES

MITI calls SMEs to sign up for IR4.0 Assessment

GEORGE TOWN, Jun 28 (Bernama) - The Ministry of International Trade and Industry (MITI) is encouraging small and medium-sized enterprises (SMEs) in the manufacturing sector to sign up for the National Policy on Industry 4.0 Readiness Assessment (Industry4WRD-RA).

Read More

INDUSTRY UPDATES

Lawyer Shafee's Money-Laundering trial moved to March Next Year

KUALA LUMPUR, Jun 27 (Bernama) - The trial of prominent lawyer Tan Sri Muhammad Shafee Abdullah, who is facing two counts of money laundering charges involving RM9.5 million he allegedly received from former prime minister Datuk Seri Najib Tun Razak, and two charges of making false statements to the Inland Revenue Board (IRB), has been moved to March next year.

Read More

INDUSTRY UPDATES

Government plans to build New Shah Alam Court Complex - Liew

SHAH ALAM, Jun 24 (Bernama) - The government plans to build a new Court Complex in Shah Alam to replace the existing building, said Minister in the Prime Minister’s Department Datuk Liew Vui Keong.

Read More

INDUSTRY UPDATES

Niosh offers free needs Analyses for Sabah and Labuan Workplaces

KOTA KINABALU, Jun 24 (Bernama) - The National Institute of Occupational Safety and Health (NIOSH) stands ready to conduct free needs analyses of workplace safety for organisations in Sabah and the Federal Territory of Labuan, with the aim of identifying appropriate training required.

Read More