Sabah & Sarawak
Nando’s mulls expansion within Sarawak over next few years
Nando’s Chickenland Malaysia Sdn Bhd (Nando’s) is looking to expand further in Sarawak over the next couple of years. This comes hot on the heels of its second Kuching outlet launched at The Spring Shopping Mall. Marketing director for Malaysia and Singapore, Chai Hui Fung, told The Borneo Post that the group is looking specifically in other cities such as Miri and Bintulu.
Vivocom’ entry into affordable housing will support earnings — MIDF Research
Vivocom International Holdings Bhd’s (Vivocom) entry into the affordable housing market will support earnings, the research arm of MIDF Amanah Investment Bank Bhd observes, given that there is ready demand for affordable housing in Perak and East Coast of Peninsular Malaysia.
Vivocom’s management aspires to diversify the group’s project portfolio and improves its working capital via affordable housing projects.
Sarawak’s infrastructure, connectivity still a high priority — Fadillah
Sarawak’s infrastructure and connectivity developments remain high on the national agenda with many initiatives implemented to accelerate Sarawak’s growth while more are in the planning, says Minister of Malaysia Datuk Seri Fadillah Yusof.
In his keynote address during Asian Strategy Leadership Institute’s third Sarawak Business and Investment Summit, Fadillah highlighted that to steer Sarawak in the right direction, the state government has formulated the Sarawak Socio-Economic Transformation Plan (SETP) covering a period of 15 years, starting this year until 2030.
Final decision on mspo certification to be made next year — Mah
The government is set to make a final decision next year on whether to make the Malaysian Sustainable Palm Oil (MSPO) certification scheme mandatory, Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said.
He said the government has considered making this certification scheme mandatory for all planters, including smallholders, since last year in order to make the industry more recognised and sustainable.
Sabah sees renewable energy as way out of poverty and achieving economic growth
Sabah sees renewable energy (RE) production as a sustainable way to provide energy access to the people, while promoting efforts at eradicating poverty, achieving social progress and economic growth.
Chief Minister Datuk Seri Musa Aman said initiatives to provide the necessary infrastructure for clean and reliable electricity supply can also benefit locals in terms of job opportunities.
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National
BNM expands eligibility criteria of fintech Sandbox Framework
Bank Negara Malaysia (BNM) has expanded the eligibility criteria to clarify the focus of innovations that the Financial Technology (fintech) Regulatory Sandbox Framework aims to support. It said innovations should have clear potential to improve the accessibility, efficiency, security and quality of financial services.
MIER maintains 2016 GDP growth at 4.2 pct
The Malaysian Institute of Economic Research (MIER) has maintained its projection of 4.2 per cent growth in the country’s real gross domestic product (GDP) this year as the external sector remained sluggish. MIER executive director, Dr Zakariah Abdul Rashid, said for the third quarter, the economy would likely register between four and 4.1 per cent growth. He said the private sector was expected to continue to take the lead to spearhead economic growth amid a weaker external demand.
Morocco can be Malaysia’s gateway into Africa
The Moroccan Centre for Export Promotion (Maroc Export) said Morocco can become a gateway for Malaysian companies to penetrate or enhance export to Africa, especially the western and central parts of the continent. Maroc Export Secretary General, Zouhair Triqui, said Morocco being an African country itself, had wide experience in trade and knew its neighbours very well.
Govt to create new tax scheme for companies in 2017, 2018
The government will create a new tax scheme for companies from next year with the aim of reducing the income tax rate in stages. The scheme will be implemented specifically for the years of assessment 2017 and 2018, Prime Minister Datuk Seri Najib Tun Razak said when tabling the Budget 2017 in Parliament on Friday. He said under the new scheme, companies will see a reduction of one percentage point for an increase of between five and 10 per cent.
Malaysia’s economy to expand four to five pct in 2017
Malaysia’s economy is expected to expand between four and five per cent in 2017, given the nation’s strong economic fundamentals coupled with the 2017 Budget strategies and programmes. The Economic Report 2016/17 said the expansion translated into gross national income per capita growth of five per cent to RM39,699 from RM37,812.