Day: August 19, 2024

PUTRAJAYA, The Unity Government is committed to ensuring that the bumiputera agenda continues to be prioritised in every national socio-economic development plan, said Economy Minister Rafizi Ramli. He said this will not deny the rights of other races; on the contrary, it will be able to benefit all races in terms of the development and progress of the country. Rafizi said there is still plenty of room and opportunity for bumiputera to rise to be level in economic status as their friends from other races, and even compete on the world stage. ‘There are still various issues plaguing bumiputera today,

GEORGE TOWN, Maxis Bhd has partnered with property developer IJM Perennial Development Sdn Bhd and GlobalComm Telecommunications Sdn Bhd to deliver integrated mobile and fixed connectivity to Penang’s waterfront mixed-use development, The Light City. In a statement today, Maxis said it will also collaborate with IJM Perennial and GlobalComm to develop smart city solutions powered by 5G-Advanced and Internet of Things (IoT) technologies to equip The Light City to be a future-ready development for its residents and businesses. Maxis chief executive officer (CEO) Goh Seow Eng said the partnership positions The Light City at the forefront of technology, facilitating the

KUALA LUMPUR, Bond Pricing Agency Malaysia Sdn Bhd (BPAM) has launched its online, web-based service, the ‘Eko’ platform, designed to support financial institutions and corporations in their sustainability-related regulatory reporting. In a statement today, BPAM said the platform unifies all essential sustainability metrics and analytical tools for regulatory reporting under Securities Commission Malaysia’s (SC) Sustainable and Responsible Investment (SRI) Taxonomy and Bank Negara Malaysia’s (BNM) Climate Change and Principle-based Taxonomy (CCPT) Classification into a single, user-friendly interface whilst eliminating the need to consult multiple sources. ‘The Eko platform is an evolved version of the first-generation BPAM CCPT Classification Service, launched

KUALA LUMPUR, RHB Investment Bank Bhd has reaffirmed its optimistic outlook on Malaysia’s gross domestic product (GDP) for 2024, buoyed by resilient trade data from July. The investment bank recently revised its 2024 full-year GDP forecast to five per cent year-on-year (y-o-y), up from the previous projection of 4.6 per cent. In a note today, RHB highlighted that July’s exports accelerated by 12.3 per cent y-o-y, surpassing both market consensus of nine per cent and its in-house projection of 7.6 per cent. Meanwhile, imports surged by 25.4 per cent y-o-y, exceeding the consensus estimate of 14.4 per cent and the

C Rolls Out Revised Guidelines On Technology Risk Management KUALA LUMPUR, The Securities Commission Malaysia’s (SC) revised Guidelines on Technology Risk Management have come into effect today, superseding the Guidelines on Management of Cyber Risk. In a statement today, the SC said the revised guidelines were initially released in August 2023 for capital market entities to be familiar with risk management practices, which now expand beyond cyber security to include technology risks, among others. ‘Thus, the revised guidelines emphasised the significance of strengthening operational reliability, security and resilience against technology disruptions, including SC’s expectations for risk management practices to be

Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said bumiputera companies only represented seven per cent of public-listed companies as of 2022. The figure covers 62 companies out of 945 companies listed on Bursa Malaysia. ‘With more equitable control and involvement in the national economy (through PuTERA35), it will provide equitable opportunities to bumiputera in business and also in the employment sector. “I think we will get many more bumiputera companies listed in the future,” he said after the launch of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) today. Wahid also said renewable energy and technology are among the areas