Business & Finance

MELAKA The Melaka government is focusing on development of the offshore economy through the Melaka Waterfront Economic Zone (M-WEZ) initiative to revive the state economy post-COVID-19, the State Legislative Assembly was told today.

Chief Minister Datuk Sulaiman Md Ali (BN-Lendu) said the M-WEZ development plan was currently being formulated by the state Economic Action Council (MTEN) which was also planning various other initiatives in developing the state economy post-COVID-19.

“M-WEZ and various initiatives which being planned with input from experts in various fields would maximise the use of the latest technology, especially digital as well as attract more investment which is expected to provide a huge economic boost for the state,” he said when winding up the adjournment speech  at the Seri Negeri Complex in Ayer Keroh here.

In this regard, Sulaiman said the state government would also propose the establishment of a specialised agency either at the state or federal level to coordinate and implement the development of M-WEZ.

Meanwhile, Opposition Leader Adly Zahari (Amanah-Bukit Katil) in his adjournment speech said the state government should focus on strengthening the gig economy.

The assembly adjourned sine die.

Source: BERNAMA News Agency

KUALA LUMPUR Phase 3 of the Cost of Living Assistance (BSH) 2020 payments will be made from this Friday, involving an allocation of RM3 billion.

According to a statement from the Ministry of Finance (MOF) today, it will benefit almost 4.28 million recipients, comprising 3.75 million households and 0.53 million single individuals (40-59 years old).

The amount of BSH aid awarded will take into account 3.8 million children of BSH recipients, aged 18 and below.

For households earning less than RM2,000, they will receive RM600 while single individuals will receive RM400 respectively.

Apart from that, the households with earning between RM2,001 to RM3,000 will receive RM350, while RM3,001 to RM4,000 households to receive RM100 each.

For new eligible BSH recipients who have yet to receive allocation from Phases 1 and 2, the aid will be disbursed together with Phase 3.

It also added that an additional of RM120 will be allocated to each child, aged 18 and below, limited to four children per household, and payment will be disbursed together with the Phase 3.

For example, if Ali earning below RM2,000 and has four eligible children, he will receive RM1,580 including payment of RM300 in Phase 1 (January 2020), RM200 in Phase 2 (March 2020) and RM1,080 in Phase 3 (July 2020).

“BSH payment is more targeted because it also takes into account the number of eligible children in each family,” it said.

Payment will be credited directly to the recipients’ bank accounts registered with the Inland Revenue Board (IRB).

For those who don’t have a bank account, cash payment can be obtained at Bank Simpanan Nasional (BSN) branches until Dec 31, 2020.

The ministry also said that to ensure that the BSH 2020 programme is targeted at those who are truly qualified, the appeal application period will be open from Aug 7 to Sept 6, 2020.

“With this appeal process, some of those who have had their applications rejected, will still be given space to appeal along with the submission of relevant documents for consideration by the IRB,” it said.

Appeal can be made online at BSH portal https://bsh.hasil.gov.my or applicants can visit any IRB branches/ Revenue Service Centre (PKH) / Urban Transformation Centre (UTC) for the purpose.

Source: BERNAMA News Agency

MELAKA The state government is inviting domestic investors to help produce various products with Melaka tourism identity in an effort to promote the state more widely and, thus, increase the income of local traders.

Tourism, Heritage and Culture Committee chairman Datuk Muhamad Jailani Khamis said the move would give tourists the opportunity to choose and own various tourism products as mementoes.

“We will choose products with original Melaka characteristics, including those in the galleries, to be made into replicas and key chains of various shapes for tourists to buy as souvenirs. These products will have authentication certificates.

“Therefore, I welcome those wishing to invest in the Melaka tourism sector to either meet the Chief Minister directly or apply to the state’s tourism, heritage and cultural office,” he told reporters after the opening of the second meeting of the third term of the 14th Melaka State Legislative Assembly that was officiated by the Governor Tun Mohd Ali Rustam here today.

Muhamad Jailani said the state tourism sector had recovered by 68 per cent so far, and there were plans to maximise tourist attraction programmes, like concerts and musical performances, to attract more visitors to the state.

“However, we need to wait for permission or an announcement by the Federal government due to the ongoing restrictions imposed to curtail the COVID-19 pandemic,” he said.

Source: BERNAMA News Agency

PUTRAJAYA The monitoring of current chicken prices by the Enforcement Division of the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) found that the retail prices of standard chicken has started to show a downward trend in public markets and supermarkets from July 1 to 17.

KPDNHEP enforcement director Datuk Iskandar Halim Sulaiman, in his statement today, said the trend was in line with the decline in live farm chicken prices in the second week of July of between RM4.50/kg and RM5.40/kg from the first week, namely, RM5.20/kg to RM6.10/kg.

“The standard chicken price in (the first week of) July 2020 is between RM8.00/kg and RM8.50/kg and has decreased in the second week with a price of RM7.60/kg to RM7.90/kg,” he added.

Iskandar Halim said KPDNHEP would continue to monitor the current supply and prices of chicken in the market so that consumers could obtain chicken at an affordable price.

He added that KPDNHEP has carried out an inspection of chicken price increases following complaints from the public on June 15.

Iskandar Halim explained that monitoring was carried out under the Price Control and Anti-Profiteering Act (AKHAP) 2011 to identify the supply chain levels that initiated the cause of rising chicken prices and to detect if there were profiteering activities.

A total of eight investigation papers had been opened on poultry traders suspected of committing profiteering in inspections carried out from June 17 to 30, he added.

“All the investigation papers are under further investigations to complete the documents before referring them to the KPDNHEP deputy public prosecutor,” he added.

Iskandar Halim explained that these eight cases involved four retailers in the Melaka public market and four chicken wholesalers, one in Melaka and the other three in Kuala Lumpur.

All the cases were being investigated under Section 14 (1) of AKHAP, he added.

Source: BERNAMA News Agency

KUALA LUMPUR The ‘Buy Malaysian Products’ Campaign (KBBM) launched yesterday will speed-up the country’s economic recovery with the support of all Malaysians.

Bumiputera Manufacturers and Services Industry Association of Malaysia (PPIPBM) president Datuk Azman Yusoff said in a statement today the campaign was also part of the government’s efforts to establish a Bumiputera Prosperity Council to encourage Bumiputera manufacturers to increase productivity.

“For this, Bumiputera manufacturers and entrepreneurs must come up with high quality products with attractive packaging to entice consumers and be on par with imported goods,” he said in the statement.

He also called for more opportunities for local products to be sold at five-star shopping locations.

Yesterday, Prime Minister Tan Sri Muhyiddin Yassin launched the national-level Mega Sales Programme and ‘Buy Malaysian Products’ Campaign at Suria KLCC as part of the effort to revive and maintain Malaysia’s economic competitiveness post COVID-19.

Hosted by the Domestic Trade and Consumer Affairs Ministry, the campaign is a nationwide consumer awareness initiative, to be held until the end of the year.

Source: BERNAMA News Agency

KUALA LUMPUR, The Malaysian Association of Tour Agency (MATA) is urging the government to expedite the implementation of the National Economic Regeneration Plan (PENJANA) related to the tourism sector financing facility worth RM1 billion.

Its president Datuk Mohd Khalid Harun said the financing facility should have started in early July before its launch was postponed to July 15 but until now there had been no announcement on the matter by Bank Negara Malaysia (BNM) or the Ministry of Tourism, Arts and Culture (MOTAC).

He said when involved in discussions with BNM on June 16, MATA told BNM to scrutinise three main items to boost the tourism sector, namely, providing travel grants, soft loans and extending the moratorium period.

Therefore, Mohd Khalid said, MOTAC should play a role as a mediator in facilitating discussions with fund providers as meant by BNM, and the relevant government agencies, so that tourism industry players could meet to facilitate the distribution of the funds.

He said MOTAC should rightly use existing funds such as the Tourism Infrastructure Fund of RM1 billion and the Special Fund for Tourism (SFT3) to be given to tourism industry activists in order to restore the industry immediately.

“The Malaysian Tourism Promotion Scheme (GAMELAN Malaysia) should also expedite repayments to tourism sector activists as this is not the time to entertain the bureaucracy such as waiting for all officers to meet before an approval is made,” he said in a statement today.

MOTAC Secretary-General Datuk Dr Noor Zari Hamat on July 9 said the ministry and BNM would announce a mechanism under the PENJANA Tourism Financing (PTF) scheme in the middle of this month worth RM1 billion.

Meanwhile, Mohd Khalid suggested that the state governments, through local authorities, could give assessment tax and land tax exemptions to tourism activists to help the industry recover.

Source: BERNAMA News Agency

KUALA LUMPUR   — Police have crippled an online investment scam known as i-Rakyat Trade with the arrest of 10 individuals who preyed on Malaysians during the Movement Control Order (MCO).

Bukit Aman Commercial Crimes Investigation Department acting director Commissioner Datuk Saiful Azly Kamaruddin said all suspects, including a woman, aged between 19 and 31 were nabbed in several raids around Old Klang Road, Sri Petaling, and Dang Wangi on July 14 and 15.

He said the syndicate began its activities in March this year during the MCO by offering investment opportunities in the international oil and gas industry via Facebook at http://m.facebook.com/irakyattrader

“The syndicate operating in Klang Valley is believed to have made a profit of RM200,000 from victims,” he said in a press conference here today.

Saiful Azly said as their modus operandi, the syndicate offered four-tier investment packages with guaranteed returns within two days.

“For example, the Gold package, customers will get a return of RM10,800 with a capital of RM800 while the Diamond guaranteed a return of RM21,600 with a capital of RM1,600; Under the Emerald and Platinum packages, customers will get returns of RM32,400 and RM54,000 with capitals of RM2,400 and RM4,800.

“The syndicate also offers lucky draw prizes such as luxury vehicles, tour packages and electrical appliances worth up to RM100,000,” he added.

To date, Saiful Azly said police have opened 22 investigation papers in connection with the syndicate.

“Police are still tracking the mastermind of the syndicate and urged other victims who have been duped to come forward and assist in ongoing investigations.

“Police also seized six luxury vehicles, including Lamborghini, Alphard, Vellfire, and Mercedes, laptops, mobile phones, and various currencies.

All suspects have been remanded and the case is being investigated under Section 420 of the Penal Code.

Source: BERNAMA News Agency