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Maybank IB clinches 13 awards at Asset Triple A Islamic Finance Awards

KUALA LUMPUR, Maybank Investment Bank Bhd (Maybank IB) clinched 13 awards at The Asset Triple A Islamic Finance Awards 2019, including two marquee accolades for Best Islamic Investment Bank and Sukuk Adviser of the Year for the Asia Pacific.

Maybank IB was also recognised as Malaysia’s Best Islamic Investment Bank and Malaysia’s Sukuk Adviser of the Year, alongside multiple awards for key deals that underscored the investment bank’s capacity for undertaking innovative Islamic finance transactions.

In a statement today, it said the awards were given in recognition of Maybank IB’s strong performance during the period under review.

Chief executive officer Fad’l Mohamed said Maybank IB was truly honoured to have won the coveted awards, including their first-ever accolade award, which recognises regional capabilities in undertaking complex Islamic finance transactions across the deals spectrum.

Established in 2010, The Asset Triple A Islamic Finance Awards are among the industry’s most prestigious awards in what has become one of the fastest growing and most promising niches of global finance.

Source: BERNAMA (News Agency)

Lokatech targets to sell 1,000 units of built-in toll readers monthly

KUALA LUMPUR, Lokatech Engineering Sdn Bhd, which has launched the country’s first built-in toll reader for the automotive aftermarket, is targeting initial sales of about 1,000 units a month.

In a statement today, it said it is collaborating with Efkon, the Austrian technology provider of Malaysia’s nationwide infra-red electronic toll collection system, to launch the product.

Priced at RM499 per unit, the LokaTAG built-in toll reader offers an alternative to the portable MaxTAG launched in October 2018.

Lokatech Engineering general manager Ng Shyh Kang said there is tremendous potential in the untapped aftermarket segment.

LokaTAG is the first and only authorised built-in toll reader for the aftermarket, and we believe there is a high number of car owners who will appreciate the peace of mind and convenience of a seamless ride, he said.

LokaTAG is designed to be integrated as part of the vehicle with direct connection to the vehicle’s battery. It features a long-lasting back-lit display with card error or low credit alert and is compatible with all vehicle models.

The company is partnering with Shopee Malaysia (www.shopee.com.my), and every purchase of LokaTAG from the official LokaTAG online store comes with free on-site installation for customers in the Klang Valley, Penang and Johor, along with zero per cent Easy Payment Plan (EPP) for just an extra RM1.

As for customers outside these regions, they can install their LokaTAG for free at selected authorised dealers.

Source: BERNAMA (News Agency)

Melaka to provide kenaf incentive in Budget 2020

JASIN, The Melaka state government will provide incentives to kenaf entrepreneurs and farmers in the state from next year, says Chief Minister Adly Zahari.

He said the incentives are aimed at encouraging more farmers to grow kenaf individually or as part of a group in a bid to expand the industry.

He said kenaf is currently grown on eight hectares of old rice fields in Kampung Sempang Pantai Merlimau here and the state government targets at least 25 hectares under kenaf cultivation within two years.

He said the state government has not made any allocation for kenaf, and will discuss with the National Kenaf and Tobacco Board (LKTN), which oversees the industry, on ways to help raise kenaf production.

“At this early stage, the state government plans to provide kenaf incentives which will be allocated in the state budget next year, he told reporters after a site visit to the kenaf plantation here today.

Also present were Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin and LKTN director-general Samsuddin Noor.

Adly added that an unused state government-owned building in the village has been identified for use by LKTN as a kenaf processing centre, adding comprehensive facilities would be provided in order to promote the state’s kenaf industry.

He noted that kenaf has good potential for use in the furniture and automotive sectors, and the state government and LKTN will help with the marketing.

Source: BERNAMA (News Agency)

Malaysian SMEs urged to explore eBay platform to go global

GEORGE TOWN, Malaysian small and medium-sized enterprises (SMEs) are urged to leverage on the platform provided by eBay, a global e-commerce leader, which currently can be reached by 180 million active buyers from 190 countries.

eBay Southeast Asia seller growth head Wong Mei Inn said there were only about 9,000 Malaysian sellers active on the eBay platform currently.

“Out of the 9,000 active Malaysian sellers on eBay, 77 per cent of them have started to export their products to buyers globally, and the majority of them are involved in auto parts, electronics and collectable items businesses,” she told reporters after the launch of a one-day eBay training workshop here today.

Wong also added that one the Malaysian sellers on the eBay platform had recorded US$34 million (US$1=RM4.13) in sales last year.

“In an effort to boost the adoption of e-commerce among local businesses, eBay organised this ‘Let’s eBay’ training workshop that is designed for SMEs with little or no e-commerce experience.

The workshop is held with the cooperation of the Malaysian External Trade Development Corporation (Matrade) and Malaysia Digital Economy Corporation (MDEC), said Wong.

She said eBay also had launched a six-month ‘Let’s eBay Academy Programme’ that was designed to incubate new sellers.

Let’s eBay Academy Programme is a training workshop co-organised by eBay, MATRADE and MDEC that aims to help aspiring entrepreneurs kickstart their e-commerce business and connect with the global marketplace of active buyers. Elaborating on the academy, Wong said the registration was ongoing until the end of this month.

Meanwhile, Penang Domestic and International Trade Committee chairman Datuk Abdul Halim Hussain said the entrepreneurs and business owners should seize the opportunity and venture into e-commerce to grow their businesses.

He said the state government had set a target of 30 per cent penetration and adoption of e-commerce among entrepreneurs in the next five years.

“There is a lot of opportunities in our state’s economy, especially with Penang being a prominent high-technology manufacturing hub for global brands,” he added.

Source: BERNAMA (News Agency)

SmartStream reports importance of managing intraday liquidity to generate revenue

KUALA LUMPUR, SmartStream Technologies, the financial Transaction Lifecycle Management (TLM) solutions provider has released a white paper to inform financial institutions of the regulatory pressures imposed on intraday liquidity requirements.

This has now moved beyond reporting positions to actively managing and controlling intraday liquidity to reduce costs and increase profitability, according to a statement.

The white paper, entitled ‘Intraday Liquidity Management: From a costs discussion to a revenue opportunity’, explores the benefits for financial institutions when transforming intraday discussions from an operational burden into adding true business value.

It also analyses how institutions can leverage next-generation technologies like Cloud, Artificial Intelligence and Machine Learning to achieve the goals of real-time and active management of global intraday liquidity.

The paper has reviewed the regulators’ views and the monitoring tools available, including stress testing scenarios, and discussing the current status of where banks are now with their monitoring of intraday liquidity.

For more information, contact https://www.smartstream-stp.com.

Source: BERNAMA (News Agency)

BHIC announces new board line-up

KUALA LUMPUR, Boustead Heavy Industries Corporation Bhd (BHIC) has announced a new board line-up, with immediate effect.

In a statement, BHIC said its independent, non-executive director Datuk Ishak Osman and non-independent, non-executive director Datuk Azzat Kamaludin have left the group, effective today.

Following their departure, the company has appointed Admiral Tan Sri Ramlan Mohamed Ali (R), Datuk Maznah Abdul Jalil and Fahmy Ismail as non-independent, non-executive directors.

It had also announced the appointment of Tan Sri Aziah Ali, Saadatul Nafisah Bashir Ahmad and Dr Salihin Abang as independent/non-executive directors.

The group is pleased to introduce greater diversity to its board, not only from the gender perspective, but also from the breadth of experience and specialised professional qualifications that these new members bring to the board, it said.

Source: BERNAMA (News Agency)

Multiple strategies needed in current business landscape – Wan Zulkiflee

KUALA LUMPUR, Organisations need to adopt multiple strategies in the current business landscape, says Petroliam Nasional Bhd (Petronas) president and group chief executive officer, Tan Sri Wan Zulkiflee Wan Ariffin.

“Leaders in the next five to 10 years, need to redefine risk management in very different ways from now because things are changing very fast. You cannot rely on a single strategy,” Wan Zulkiflee added.

He said Petronas was very focused on Sustainable Development Goals such as the environment, education and the well-being of communities.

“Every year we give out 330 scholarships. I don’t think there is any single entity that does this.

“We did it when the oil price was at US$100 per barrel and when it was US$30 per barrel. I decided not to change this long term investment,” he added.

“These are the areas we have defined for ourselves and through our foundation, Yayasan Petronas, we get involved in corporate social responsibility activities and SDGs, he said at the International Business Management Conference organised by the International Islamic University Malaysia here, today.

He said the sustainability definition varied from one to another organisation and for Petronas, it is working on shaping the oil and gas industry in Malaysia, to be more competitive and resilient.

Source: BERNAMA (News Agency)