Day: July 31, 2024

KUALA LUMPUR,, Alliance Bank Malaysia Bhd (Alliance Bank) expects healthy loan growth between eight per cent and 10 per cent for the financial year 2025 (FY2025), driven by its small and medium enterprise, corporate and consumer banking segments. Alliance Bank group chief executive officer Kellee Kam said the bank is poised for strong growth as it sees favourable economic conditions in the country during the first half of 2024. ‘In the first two quarters, Malaysia’s gross domestic product grew pretty rapidly. Now, there are also further opportunities from the foreign direct investments that have been approved as well as the

KUALA LUMPUR,, The Inland Revenue Board of Malaysia (IRB) has launched the MyInvois portal, kicking off its implementation of e-invoicing effective Aug 1, 2024. In a statement today, the IRB said the move will strengthen the country’s taxation system, increase transparency, and provide a more accurate assessment of compliance risk. The statement said e-invoicing will be implemented in stages, with the first phase involving 5,000 companies with recorded annual revenue or sales exceeding RM100 million starting Aug 1, 2024. “The second phase will start on Jan 1, 2025, involving companies with annual revenue or sales of between RM25 million and

KUALA LUMPUR,, Global credit rating agency, AM Best has maintained a stable outlook on Vietnam’s non-life insurance segment, citing accelerating non-life premium growth and increased demand for commercial lines insurance. In its latest Best’s Market Segment Report, ‘Market Segment Outlook: Vietnam Non-Life Insurance’, the rating agency notes the country’s Insurance Business Law as a recent regulatory refinement supporting the stable outlook, as the newly adopted requirements on risk management, internal controls, internal audits and actuarial standards are expected to enhance risk governance and strengthen financial conduct. Property insurance was a key business growth driver in 2023, in which government spending