Sabah & Sarawak
CGC to roll out big plans for Sarawak SMEs
Credit Guarantee Corporation Malaysia Bhd (CGC) has big plans in store for small and medium enterprises (SMEs) in Sarawak as part of its vision to be an effective financial institution dedicated to promoting the growth and development of dynamic SMEs. According to Mohd Zamree Mohd Ishak, president and chief executive officer of CGC, over the last five years, the group through its branch network in Kuching and Miri has assisted over 600 SMEs.
Press Metal sees 10 to 15 pct higher aluminium production by year-end
Press Metal Bhd is looking at a 10 to 12 pct increase in aluminium production b year-end as phase two of its smelting facility in Samalaju Industrial Park, Sarawak, is running at full capacity. Group chief executive officer Datuk Paul Koon Poh Keong said the higher production was due to the expansion of its Samalaju smelter plant which was currently producing about 320,000 tonnes of aluminium.
Sheda to host talk on housing development account
The Sarawak Housing and Real Estate Developers Association (Sheda) is hosting a morning talk on “Housing Development Account (HDA): West Malaysia Perspective” to educate Sarawakian players on this relatively unknown topic.
Sheda chairman Christopher Ngui explained that the HDA is relatively new to Sarawak with many developers, lawyers as well as bankers not being well-versed in this particular regulation which was in force since November 1, 2014.
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National
GST: No action against companies if they register by Feb 28
No legal action will be taken against companies if they were to register for the Goods and Services Tax (GST) by Feb 28, 2015, Royal Malaysian Customs Department director-general Datuk Seri Khazali Ahmad said on Monday. However, action would be taken against those who failed to do so and a crackdown would be launched against errant traders from March 1.
Malaysia among top countries affected by crypto-ransomware
Malaysia is among several countries found to be the top affected with crypto-ransomware detections outside of the US and Europe, the Middle East and Africa (EMEA). Crypto-ransomware is a type of ransomware that encrypts a user’s system or files in exchange for money. This, according to global antivirus cloud computing and internet content security player Trend Micro, prevents a user from accessing his files or computer.
Strategic marine launches offshore 40 generation three crew boat
Strategic Marine, the world’s leading shipbuilding and engineering specialist company, yesterday launched the Jati Seven, its first ever Offshore 40 generation three-crew boat being constructed for Dinastia Jati, a prominent oil and gas services group. In a statement Tuesday, Strategic Marine with its operations in Singapore, Western Australia and Vietnam, said Jati Seven was the first in a series of three third generation vessels being built for Dinasti Jati.
Malaysia current account surplus to narrow on LNG – Bank of America
Malaysia’s current account surplus will probably narrow as liquefied natural gas (LNG) prices drop, according to Bank of America Merrill Lynch, adding a new risk to the nation’s weakening economic outlook. LNG prices may be down 50 per cent by the middle of this year from last June, as they track oil with a lag of four to six months, according to Singapore-based Bank of America economist Chua Hak Bin.
Malaysia’s 2014 trade surplus registers double-digit growth
Malaysia’s 2014 trade surplus registered double-digit growth of 16.6 per cent, a remarkable achievement when compared with the negative scenario in 2012 and 2013, says Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.
“The growth impetus in exports resulted in a trade surplus of RM83.11 billion, representing Malaysia’s achievement of 17 consecutive years of trade surplus,” he told reporters at the unveiling of “Malaysia’s Trade Performance 2014”, here.