Business

Chinese investment into Malaysia to exceed USD2 billion this year
Friday, July 4, 2014

KUALA LUMPUR: Investments from Chinese companies into Malaysia is expected to exceed US$2 billion this year driven by the establishment of the Malaysia-China Kuantan Industrial Park, said Chinese Ambassador to Malaysia Dr Huang Huikang.
 
He said China would continue to encourage its companies to invest in Malaysia and this year, a big project would materialise.
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Nazir to be CIMB Group chairman
Thursday, July 3, 2014

KUALA LUMPUR, July 3 -- 2014: CIMB Group today announced a leadership transition plan which will see Datuk Seri Nazir Razak relinquishing his position as group chief executive officer.
 
Nazir however will take over as CIMB group chairman as Tan Sri Md Nor Yusof will retire from the board and join the group's international advisory panel.
 
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PlaTCOM Vectures aspires to launch 48 IBOs in 2015
Thursday, July 3, 2014

KUALA LUMPUR: PlaTCOM Ventures Sdn Bhd, the government unit that was formed to transform local technology into viable businesses says it is off to a running start with nearly 50 projects expected to be launched by 2015.PlaTCOM ED Dr Viraj Pereira said it was important to quickly identify technology that can be turned into business ideas and offer it to Malaysian companies....

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World Bank report warns of OPR hike effect
Thursday, July 3, 2014

KUALA LUMPUR: Ahead of Malaysia's announcement of its policy rates next week, the World Bank warns that any hike in Bank Negara Malaysia's (BNM) Overnight Policy Rate (OPR) will have a greater effect on household budgets than in the past.The bank's Malaysia Economic Monitor reported that as policymakers respond to economic improvements by withdrawing fiscal and monetary policies, Malaysia will face tighter domestic conditions....

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Ziq Bakery targets sales of RM7m before year end
Wednesday, July 2, 2014

KUALA TERENGGANU, July 2 -- 2014: Ziq Bakery & Cake Sdn. Bhd., a Bumiputera bakery here, has targeted sales of RM7 million before the year-end.
 
Managing director Suzana Mohamed Salleh said the bakery is confident of the target following average monthly sales of between RM350,000 and RM400,000 at present.
 
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MARC expects CPI to rise above 4.4% in 2015 on GST introduction
Wednesday, July 2, 2014

KUALA LUMPUR: Malaysian Rating Corp Bhd (MARC) foresees consumer price index (CPI) to rise above 4.4% in 2015 as the introduction of the Goods and Services Tax (GST) is expected to exert inflationary pressure ahead of its implementation.Malaysian households are expected to bring forward their consumption as gross domestic product rises to 5.3% in 2014 from 4.7% in 2013....

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Northern Corridor attracts RM6.7b investments in 1H
Wednesday, July 2, 2014

KUALA LUMPUR: The Northern Corridor Implementation Authority (NCIA) expressed confidence in achieving its RM10 billion investment target, supported by strong economic growth in the northern region.NCIA CEO Datuk Redza Rafiq said for the first-half of this year alone, the Northern Corridor which constitutes Penang, Perak, Kedah and Perlis has already attracted RM6.7 billion in investments. ...

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MRCB bags RM7b Kwasa Damansara centre project
Tuesday, July 1, 2014

KUALA LUMPUR: Malaysian Resources Corp Bhd (MRCB) beat five other contenders to win the RM7 billion, 12-year gross development value (GDV) inaugural development of 'Project MX-1', a 64- acre (25.9ha) mixed development town centre of the proposed Kwasa Damansara township.
"We have made an offer to MRCB which is conditional upon them signing the definitive agreement within 30 days from the date...

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Protasco: Land acquisition issues hold back PR1MA projects
Tuesday, July 1, 2014

KUALALUMPUR: The 1Malaysia People Housing Scheme (PR1MA), aimed at providing affordable urban homes to the middle income earners, has yet to take off in any meaningful way because of land acquisition problems.Even though the PR1MA initiative is already two years old, Perbadanan Prima Malaysia has yet to begin construction in any of its planned 23 PR1MA housing developments....

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SMEs told to register businesses before GST implementation
Tuesday, July 1, 2014

KUALA LUMPUR: Small and medium enterprises (SMEs) have been urged to register their businesses with the government before the Goods and Services Tax (GST) is implemented.
 
Making the call, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said SMEs may register their businesses online.
 
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