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Daily Archives: May 4, 2019

EU palm oil ban not jeopardising revenue of SMEs

SHAH ALAM, The European Unions (EU) decision to ban Malaysian palm oil is not seen as jeopardising the income of small and medium enterprises (SMEs) that produce products using the commodity.

Deputy Entrepreneur Development Minister Datuk Dr Mohd Hatta Md Ramli said several major countries, including India and China, still accept palm oil-based products from Malaysia.

“Currently, both domestic and foreign markets accept palm-based products. It is only Europe and the government will handle this in a special way.

“Entrepreneurs can still use (palm oil). We should not distrust our own commodity because this will give the opposition a win, ” he told reporters after attending the Bumiputera SME Export Programme event here today.

Mohd Hatta also recommended SME entrepreneurs to continue using palm oil to manufacture various products to help make the governments “Love My Palm Oil ” campaign a success.

He said the campaign would also help to educate the public on the advantages of palm oil.

“When certain parties portray palm oil negatively, we shouldnt say theres no need to use palm oil because the oil itself is good.

“So, SMEs should use palm oil in their products for the public to be aware of its benefits and see that entrepreneurs still believe in it, ” he added.

Source: BERNAMA (News Agency)

Increase in financing for cooperatives depends on Bank Rakyat’s capability

KUALA LUMPUR, Any increase to allocations for the financing of cooperatives, and small and medium industries by Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) must be based on economies of scale and the bank’s capability.

Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof said efforts to increase such financing were dependant on the bank’s board of directors and expert opinion.

For example, out of RM1 billion, we cannot say RM500 million must be given to entrepreneurs. This (decision) must also depend on the bank’s expertise, he told reporters after officiating Bank Rakyat’s annual general meeting here today.

Based on Bank Rakyat’s report on it financial achievements, gross financing balance stood at RM70.40 billion for the financial year ended Dec 31, 2018 (FY18) compared with RM70.63 previously.

The report said the group continued to benefit from it diversified portfolio, especially from home, motor and business financing.

Home financing grew 12.8 per cent to RM5.92 billion from RM5.25 billion in FY17, while car financing grew 1.3 per cent to RM2.77 billion compared with RM2.73 billion previously.

Meanwhile, business financing, especially in the cooperative segment grew 13.3 per cent to RM2.22 billion from RM1.96 billion previously.

Bank Rakyat chairman Datuk Noripah Kamso in her opening speech said continuous high dividend yields can potentially jeopardise the bank’s competitiveness and place it in a position where the financial institution would become irrelevant in the future.

Bank Rakyat had announced a 13 per cent dividend payment for FY18 amounting to RM379 million to its members.

Noripah said the board of directors had discussed efforts to revise the bank’s five-year plan.

The revision of the plan is to ensure that it will be in line with the National Entrepreneurship Framework. National Cooperatives Policy 2011-2020, Development Financial Institutions’ mandate , as well as value-based intermediation led by Bank Negara Malaysia, she added.

Source: BERNAMA (News Agency)

Supply chain study report out in July – Saifuddin

PORT DICKSON, The final report on the supply chain study of 10 popular goods is expected to be obtained in July, said Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.

He said the report to determine whether the increase in the prices of goods took place place at the importer, producer, plantation, wholesaler, distributor or retailer’s level, would then be tabled before Prime Minister Tun Dr Mahathir Mohamad.

”In the report, we want to see where the increase (of price) in the chain takes place, who raises the price and why the price is increased, is it due to fee, transportation, bill or pay.

”Thank god, in the two months to complete the preliminary study, we have checked 10 types of goods and found there were indeed illogical increases.

”..and we know at what level they take place, we know the profit margins and others. Since, this is the early find, the final result is expected to be ready in July,” he said.

He said this after a Buy Malaysian Goods-Consumer Sales Carnival here today.

Also present was Port Dickson Member of Parliament Datuk Seri Anwar Ibrahim.

Commenting further, Saifuddin said there was a need for the report to be revealed to society.

”There is a need for the people to know…we concede that businessmen need to take profit in the trading process but we cannot accept excessive profits which place the people in difficulties.

”The enforcement division has no choice, we will turn up at the premises causing increase in prices,” he said.

The media recently reported that the preliminary report on the supply chain study of 10 selected goods found the activity of cartels which profited excessively, up to 133 per cent.

Source: BERNAMA (News Agency)

RM24 million for industrial R and D this year – Yeo Bee Yin

PUTRAJAYA, The Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC) has allocated a total of RM24 million for industrial research and development (R and D) this year.

Its Minister Yeo Bee Yin said this marked the first time that the ministry had allocated over 50 per cent of the funds for the R and D purposes compared to just 8.6 per cent previously.

It is one of 23 MESTECC’s initiatives for science and technology sector.

If we look at other countries such as Singapore, the fund allocation for industrial research is at 48 per cent, while Japan is 78 per cent, and for the first time this year MESTECC allocates over 50 per cent of its funds for industrial research, she said.

She said this to reporters in a special interview in conjunction with one year anniversary of the Pakatan Harapan (PH) government administration here.

Yeo said that the objective of the allocation was to create an ecosystem that could be applied in the industry and economy to create wealth for Malaysia through science and technology as well as creating job opportunities.

That apart, MESTECC is also bringing the mobile version of the National Science Centre to schools in rural areas.

She said the initiative under the National Science Week would allow rural students to get to know science closely.

The mobile science centre will start visiting rural schools in July as all this while only students from urban areas are able to visit the National Science Centre. We hope this programme to benefit 600,000 rural students, she said.

She added that MESTECC also to provide sharing facilities under the National Scientific Facilities and Equipment (NSFE) of 1,200 scientific equipment to the industrial sector.

The initiative NSFE sharing facility was created for the first time in order to further enhance collaboration in R and D.

It also hoped to increase contribution of industry sector spending in R and D to 70 per cent.

This initiative can help the science, technology and innovation (STI) community to implement research, development and commercialisation (R and D and C) activities at cost-effective through rental or analytical services without having to purchase expensive equipment.

The industry will also have the opportunity to obtain expert advice in science and technology through the collaboration of these scientific facilities and equipment, she said.

Source: BERNAMA (News Agency)

MATRADE to help grow awareness of Malaysian F and B products in Hong Kong

KUALA LUMPUR, Malaysia’s unique Food and Beverage (F and B) products are set to take centre stage at Asia’s top trade fair, HOFEX 2019 in Hong Kong from May 7-10.

The event will see the participation of 30 Malaysian companies.

Joined by Malaysia’s trade promotion agency, the Malaysia External Trade Development Corporation (MATRADE), the participation at HOFEX 2019 will also help promote the products to buyers from Asia and beyond.

According to MATRADE’s Trade Commissioner in Hong Kong, Noor Ezzwanee Ahmad, there had been strong interest among Malaysian companies to partcipate in HOFEX, given the event’s prominence among buyers from around the world.

This year, the trade fair will feature more than 2,800 booths and is expected to draw over 42,000 visitors from more than 70 countries.

There are various business and networking opportunities at this biennial trade fair and over 20,000 foreign buyers will be attending the event.

Trade events in Hong Kong often have been the preferred platform for global traders, entrepreneurs and manufacturers to promote and launch their products to other markets, due to the city status as a free trade port, she said in a statement here, today.

As part of MATRADE’s continuous efforts at promoting Malaysian brands, its office in Hong Kong will facilitate the business matching of Malaysian exporters participating at HOFEX, with potential buyers from Hong Kong, Macau and China.

Over 780 business meetings are expected to take place.

Business matching is one of MATRADE’s main facilitations for Malaysian companies. With our extensive network and market intelligence gathered over more than two decades, they can rest assured of being matched with high-quality buyers.

We hope the engagement will provide Malaysian companies with an opportunity to discover buyers from around the world in Hong Kong and make the city a gateway to China and other parts of the world, said Ezzwanee.

During HOFEX 2017, Malaysian companies successfully secured more than RM20 million in export value and participating companies were also able to find distributors in Hong Kong, China and other parts of the world.

Malaysian F and B companies ready to tap the prospects in Hong Kong are advised to seek MATRADE’s advice through its Hong Kong office to ensure they have the necessary market insights before accessing it.

For more details, Malaysian companies can email hongkong@matrade.gov.my.

Source: BERNAMA (News Agency)

Samsung takes second spot in global smartwatch market in Q1

SEOUL, Samsung Electronics Co.’s Galaxy Watch has gained popularity among Android phone users, coming in second to Apple Watch in the global market in the first quarter, Yonhap news agency reported, quoting an industry report Saturday.

Global smartwatch shipments rose 48 per cent on-year in the first quarter of 2019, as wearables with fitness tracker and health monitoring functions attracted more users, according to industry tracker Counterpoint.

Apple Watch remained the world’s most popular smartwatch with a 35.8 per cent market share in the January-March period, data showed.

Counterpoint said Apple Watch maintained a clear lead with health-related features like electrocardiogram (ECG) monitoring and fall detection in the Apple Watch Series 4, which helped offset weak demand for its iPhones.

Samsung’s Galaxy Watch accounted for 11 per cent of global smartwatch shipments in the first three months of this year, marking a 127 per cent year-over-year growth, it said.

“Its success was due to the latest Galaxy watch series, which came with better battery life as well as a very traditional round clockface design.

A senior analyst at Counterpoint Research Lim Su Jeong, said: Further, it provides cellular LTE connectivity, which gives it an edge over others targeting Android-based smartphone users.”

Imoo, a Chinese smartwatch vendor, slipped by one notch to third place with a 9.2 per cent market share over the period, the data said.

Source: BERNAMA (News Agency)

Samsung takes second spot in global smartwatch market in Q1

SEOUL, Samsung Electronics Co.’s Galaxy Watch has gained popularity among Android phone users, coming in second to Apple Watch in the global market in the first quarter, Yonhap news agency reported, quoting an industry report Saturday.

Global smartwatch shipments rose 48 per cent on-year in the first quarter of 2019, as wearables with fitness tracker and health monitoring functions attracted more users, according to industry tracker Counterpoint.

Apple Watch remained the world’s most popular smartwatch with a 35.8 per cent market share in the January-March period, data showed.

Counterpoint said Apple Watch maintained a clear lead with health-related features like electrocardiogram (ECG) monitoring and fall detection in the Apple Watch Series 4, which helped offset weak demand for its iPhones.

Samsung’s Galaxy Watch accounted for 11 per cent of global smartwatch shipments in the first three months of this year, marking a 127 per cent year-over-year growth, it said.

“Its success was due to the latest Galaxy watch series, which came with better battery life as well as a very traditional round clockface design.

A senior analyst at Counterpoint Research Lim Su Jeong, said: Further, it provides cellular LTE connectivity, which gives it an edge over others targeting Android-based smartphone users.”

Imoo, a Chinese smartwatch vendor, slipped by one notch to third place with a 9.2 per cent market share over the period, the data said.

Source: BERNAMA (News Agency)