Day: July 28, 2023

The reopening and recovery of the economic sector has led the incidence of poverty in Malaysia to decrease to 6.2 percent in 2022, from 8.2 percent in 2021, official data showed Friday.

The Department of Statistics Malaysia (DOSM) said in a statement that the incidence of poverty in Malaysia rose to 8.4 percent in 2020 and 8.2 percent in 2021 from 5.6 percent in 2019 as the spread of COVID-19 has hit the country and the whole world.

Meanwhile, the incidence of poverty among Bumiputera increased to 7.9 percent in 2022 from 7.2 percent in 2019.

The relative poverty threshold in 2022 was 3,169 ringgit (697 U.S. dollars) as compared to 2,937 ringgit in 2019, with a rate of 16.6 percent, a slight decline from 16.9 percent in 2019.

Source: Xinhua Finance Agency

The Allianz Truck Warrior, an add-on coverage by Allianz General Insurance Company Berhad (Allianz General) which provides roadside assistance to Allianz Goods Carrying Vehicle (comprehensive) policyholders involved in breakdowns, has been called to action since launching in February this year. To date, more than 4,000 Allianz Goods Carrying Vehicle Comprehensive customers have included the Allianz Truck Warrior add-on to their policies since the launch in February this year.

With Allianz Truck Warrior, policyholders can expect roadside assistance services up to three times a year, which includes towing of their Goods Carrying Vehicles up to 100km roundtrip by our dedicated fleet of tow trucks, as well as on-site repair service for breakdowns. Customers will also be covered with flood relief allowance of up to RM5,000 per flood event in the event the vehicle is damaged by flood. Customers can enjoy all this with a purchase of our motor insurance policy and add on RM120 to get Allianz Truck Warrior.

Source: Nam News Network

The third instalment of the Animalis Edition at the 2023 – 2024 World Branding Awards welcomed pet and animal brands from around the world, celebrating their achievements as National, Regional, and Global Winners.

Held at the prestigious Hofburg Palace in Vienna, the awards ceremony was hosted by Howard Nightingall and welcomed winners across various categories, such as pet food, retail, wellness, aquatic products, and more.

Source: Nam News Network

Malaysia’s UEM Group Bhd, said yesterday that, it has inked Memoranda of Understanding (MoUs) with local and foreign investors, to develop a one-gigawatt (GW) hybrid solar photovoltaic power plant, integrated with a renewable energy industrial park in Malaysia.

The wholly-owned subsidiary of Malaysia’s sovereign wealth fund, Khazanah Nasional, said in a statement that, the project will be developed by UEM in collaboration with local investor ITRAMAS Corporation, which is the largest vertically integrated solar plant developer in Malaysia.

The project has also attracted renowned foreign strategic investors, which include the likes of Blueleaf Energy and ITRAMAS’s existing partners.

It is noted that the project investors are in discussion with UEM, to consider participating through multiple potential roles, including collaborating on project development, financing and commercialisation.

According to the statement, the renewable energy industrial park aims to attract foreign manufacturers and suppliers across the renewable energy and electric vehicle (EV) value chains, as well as, other high-tech companies, to set up operations and research and development facilities in the park, which in turn could drive the growth of the overall energy transition and EV ecosystems in Malaysia.

The project is in line with the strategic and high-value national flagship energy transition projects, under Malaysia’s National Energy Transition Roadmap

Source: Nam News Network

Ho Chi Minh City hopes to continue expanding cooperation with Singapore in fields with high added values such as digital economy, green economy, circular economy, innovation, new energy, education, healthcare, and youth exchanges, Chairman of the municipal People’s Committee Phan Van Mai said at a ceremony held in the city on July 28 to celebrate the 50th anniversary of Vietnam-Singapore diplomatic relations.

Mai highlighted the development of the bilateral between the two countries over the past five decades, especially since they elevated their relations to a strategic partnership in 2013 and set up a partnership in the digital economy and green economy in February 2023, becoming a model of effective collaboration among nations in the region.

On the foundation of this sound relationship, HCM City has also enjoyed a strong partnership with Singapore in many fields such as trade, investment, education and training, culture and tourism, he said.

The official said that HCM City hosts the highest number of Singaporean-invested projects in the country with more than 1,700 projects worth over 14 billion USD.

The two sides have shown efficient partnership in public policies, urban planning and human resources training, he noted.

The city’s leader said that in the coming time, HCM City hopes to play a more active role and strengthen its engagement in cooperation programmes and agreements between Vietnam and Singapore such as those on green transition and carbon emission reduction.

Mai called for more Singapore investors to invest in the city, especially in the areas where it has demands such as urban development and transport infrastructure.

The chairman believed that the dynamic development of the HCM City-Singapore ties will be an important motivation for the sustainable development of the Vietnam-Singapore relations in the future.

For his part, Singaporean Consul General in HCM City Roy Kho said that the ceremony was a chance for the two sides to look back on the bilateral relations, sharing the delight and affirming the determination to build the friendship between the two nations.

The diplomat underscored that HCM City has always been a top destination for Singaporean investors, making Singapore the biggest investor in the city.

He expressed belief that the ties between Singapore and Vietnam in general and between the city state and HCM City in particular will continue to thrive, bringing prosperity to the people of both countries./.

Source: Vietnam News Agency