Thursday, 22 March 2018
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Industry Updates

Singapore RCEP Meeting crucial, says Mustapa

KUALA LUMPUR, Feb 13 (Bernama) - The next Regional Comprehensive Economic Partnership (RCEP) meeting, which will be held at the ministerial level on March 2, 2018, will be a crucial one to discuss the progress of the trade deal.

Universiti Malaya ranks 46th in Asia

Universiti Malaya (UM) has improved in its ranking from the 59th position last year to 46th this year according to Times Higher Education (THE) Asia University Rankings.

SEZs in Sumatra to compete with Singapore, Malaysia

Jakarta, Feb 12 (ANTARA News) - The Special Economic Zones (SEZs) in Sumatra, particularly along the Malacca Strait, will face competition from those established in Singapore and Malaysia.

Court Administrative Assistant charged with assaulting Workmate

TELUK INTAN, Feb 12 (Bernama) - A court clerical and operations administrative assistant was charged in the Magistrate's Court here today with assaulting and using criminal force on a workmate, two years ago.

Bursa Malaysia announces Half-day and Full-day Trading Closure for CNY

KUALA LUMPUR, Feb 12 (Bernama) - Bursa Malaysia Bhd announces that it will implement a half-day trading closure on the the eve of the Chinese New Year (CNY) on Thursday and all-day closure on Friday.

UN Offices relocate to Putrajaya

PUTRAJAYA, Feb 7 (Bernama) - The United Nations (UN) offices in Malaysia have been relocated to the country's administrative capital, Putrajaya.

Malaysia needs to develop Industry 4.0 Roadmap

KUALA LUMPUR, Feb 11 (Bernama) - Malaysia needs to develop its own national roadmap and framework for the fourth industrial revolution (Industry 4.0) to spur collaboration with developed countries in innovation industries.

Individuals earning above P250K also getting Bigger Take-Home Pay under TRAIN

The Tax Reform for Acceleration and Inclusion Act (TRAIN) effectively increases the take-home pay not only of salaried workers earning P250,000 yearly and below but also of those with annual taxable income from P250,000 to a maximum of P2 million.

Experts from Asia affirm Need to push towards Convergence of Legal Frameworks to facilitate Cross-Border Data Flows

Singapore, Feb 7 - For the first time in Asia, representatives from government, data protection regulators, industry and the legal community across 19 countries met to discuss how to achieve a common Asian framework to share and transfer information across international borders.

MAS Encourages Financial Institutions to use Technology to On-board Customers more Efficiently

Singapore, Feb 7 - The Monetary Authority of Singapore (MAS) has issued a new guidance to financial institutions (FIs) on the use of innovative technology solutions to facilitate safe, non-face-to-face customer on-boarding.

PRD proposes TV Shows to publicize Labor Ministry policy

BANGKOK, Feb 7 (NNT) - Acting Director-General of the Government Public Relations Department (PRD) Lt Gen Sansern Kaewkamnerd has met with Labor Minister Pol Gen Adul Saengsingkaew to discuss plans to publicize the ministry's policies.

MITI eyes 10,000 e-commerce Companies joining DFTZ

KUALA LUMPUR, Feb 8 (Bernama) - The International Trade and Industry Ministry (MITI) is targeting to increase the number of companies coming onboard the Digital Free-Trade Zone (DFTZ) e-commerce platform to about 10,000 by year-end from 1,998 last November.

KLRCA is now AIAC Malaysia

KUALA LUMPUR, 7 February 2018: The Kuala Lumpur Regional Centre for Arbitration (KLRCA) was officially renamed the Asian International Arbitration Centre (Malaysia) in conjunction with its 40th anniversary. The name change is part of a larger rebranding for the Centre, which aims to further strengthen its regional footprint and global presence. Earlier on 10 Jan 2018, the Arbitration (Amendment) Act 2018 was passed and gazetted to give legal effect to the change of name.

SUHAKAM on “Federal Court’s decision on Unilateral Conversion”

KUALA LUMPUR, Feb 6 - The Human Rights Commission of Malaysia (SUHAKAM) has endorsed the unanimous decision of the Federal Court in the case of Indira Gandhi on 29 January 2018 which invalidated the unilateral and/or forced religious conversion of minors, in line with the Cabinet decision in 2009. SUHAKAM said it hopes the Court’s decision will now guide with clarity administrative and policy directions to establish coherent and consistent standards for reconciling the principle of the best interests of the child with the Constitutional rights of parents in the exercise of their freedom of religion.

Malaysia and Singapore to set up Stock Market Trading Link

The Securities Commission Malaysia (SC) and the Monetary Authority of Singapore (MAS) will work together to facilitate the establishment of a stock market trading link between Bursa Malaysia (BM) and Singapore Exchange (SGX) by the end of this year. The trading link will allow investors to trade and settle shares listed on each other’s stock market in a more convenient and cost efficient manner. Retail investors notably will benefit from such a link.

Registrar can refer to Islamic Law, Federal Court told

PUTRAJAYA, Feb 7 (Bernama) - The Births and Deaths registrar can refer to Islamic law when registering the birth of a Muslim child to define its legitimacy, the Federal Court was told today.

Alien Workers continue to register with Government

SAMUT SONGKHROM, Feb 6 (NNT) - Foreign workers have been registering with the labor one stop service in every province before the registration’s deadline on 31st March this year.

CDRC to mediate between Jasa Merin and Financiers

KUALA LUMPUR, Feb 6 (Bernama) - Marine & General Bhd's (M&G) operating subsidiary, Jasa Merin (Malaysia) Sdn Bhd (JMM) has received approval from the Corporate Debt Restructuring Committee (CDRC) of Bank Negara Malaysia to mediate between the company and some of its subsidiaries (applicant company) with its financiers.

Bilateral Meeting between Bank Negara Malaysia and the National Bank of Cambodia

Bank Negara Malaysia and the National Bank of Cambodia held a bilateral meeting in Siem Reap today, to discuss matters of mutual interest including regional central banking cooperation. The meeting was jointly led by Governor Muhammad bin Ibrahim from Bank Negara Malaysia and Governor Chea Chanto from the National Bank of Cambodia.

Rulings of the Shariah Advisory Council (SAC) of Bank Negara Malaysia at its 182nd Meeting

The Shariah Advisory Council (SAC) ruled that the practice of collaterising deposits and investment accounts to secure a financing obligation is permissible. The account can be utilised by Islamic financial institutions (IFIs) (as pledgee) with the consent of customers (as pledgor), subject to the following conditions:

Industry Updates

Safe Space for Kids who face Domestic Violence

The Ministry of Social and Family Development has set up a third child protection specialist centre called Safe Space to manage moderate risk cases.

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Laws failing to protect Public: Survey

A survey conducted by non-government group My Justice showed that the current laws and practices of Myanmar and legal organisations fail to fail to protect individuals’ rights and are more concerned with national stability and control.

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Lawyer claims Trial to Money Laundering involving More than RM9 Million

KUALA LUMPUR, March 21 (Bernama) - A lawyer who claimed trial to Criminal Breach of Trust (CBT) involving RM9 million in 2016, was charged in the Sessions Court here today with 90 counts of money laundering involving more than RM9 million, seven years ago.

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Video-recordings of Suspects' Statements to start in Phases

The interviews of those accused of specified rape offences will be the first to be introduced to the video-recording of statements from suspects.

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BNM to launch VBI Scorecard in October

KUALA LUMPUR, March 20 (Bernama) - Bank Negara Malaysia (BNM) is expected to launch the Value-Based Intermediation (VBI) scorecard in October this year, in conjunction with the Global Islamic Finance Forum.

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SC suspends Work in Courts Monday Afternoon due to Transport Strike

MANILA, Mar 19 (PNA) - The Supreme Court (SC) announced a suspension of work in all courts effective 2 p.m. Monday due to the nationwide transport strike staged by the Pinagkaisang Samahan ng mga Tsuper at Operator Nationwide (PISTON).

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MyIPO works with Education Ministry to ensure Intellectual Property Rights of Schools protected

TUARAN, March 18 (Bernama) - The Intellectual Property Corporation of Malaysia (MyIPO) is always working with the Education Ministry to ensure that the Intellectual Property (IP) rights of schools are protected.

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25 Lawsuits filed against Consumer Rights Violators

BANGKOK, Mar 17 (NNT) - The Consumer Protection Committee has decided to file lawsuits against service providers and real estate companies that are violating consumer rights.

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ASEAN-Australia Partnership mutually beneficial: President

Sydney, Mar 18 (ANTARA News) - President Joko Widodo (Jokowi) has said that the partnership between ASEAN and Australia, including in the trade field, is mutually beneficial.

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Bar Council urges Government to set up RCI on Wang Kelian

KUALA LUMPUR, Mar 17 (Bernama) - The Malaysian Bar Council today called on the government to set up a Royal Commission of Inquiry (RCI) to investigate the existence of human trafficking camps and graves in the hilly area of Wang Kelian in Perlis, three years ago.

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Thailand PM travels to Australia for ASEAN-Australia Summit

BANGKOK, Mar 16 (NNT) - Prime Minister Gen Prayut Chan-o-cha today traveled to Australia to attend the ASEAN-Australia Summit, promoting ties between the regional bloc and the Australian nation.

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Sabah Syariah Court Complex to be a State Landmark - CM

KOTA KINABALU, Mar 16 (Bernama) - The Sabah Syariah Court Complex once completed would be a state landmark, said Chief Minister Tan Sri Musa Aman.

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