Business

KUALA LUMPUR, The Malaysian Investment Development Authority (MIDA) and Invest Selangor Bhd (ISB) have co-hosted the MIDA Invest Series – Selangor: ‘Unfolding Its Business Potential’ to showcase Selangor’s investment landscape and opportunities. MIDA chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid said the event, which attracted 200 participants, reflected MIDA’s commitment to engage with local investors and explore the vast opportunities available within Selangor. ‘This effort underscores MIDA’s pivotal role as a facilitator, connecting investors with promising opportunities and fostering a robust investment environment in Malaysia. ‘Following the success of the first Invest Selangor series in August 2019, we

PETALING JAYA, Prime Minister Datuk Seri Anwar Ibrahim today announced a RM1 million donation to the National Chamber of Commerce and Industry of Malaysia (NCCIM) in recognition of its support for the government’s efforts to encourage domestic and international investment. He also expressed his gratitude to the chamber for its support in coordinating and understanding government policies, empowering the people and assisting in every foreign visit to attract new investments. “The efforts by the Malaysian Investment Development Authority (MIDA) and other government agencies could not have succeeded without the full support of NCCIM,” he said at NCCIM’s 62nd Anniversary Gala

KUALA LUMPUR, Malaysia’s 2023 nominal gross domestic product (GDP) amounted to RM1.8 trillion, said the Department of Statistics Malaysia (DOSM). Growth moderated to 1.6 per cent from the double-digit 15.9 per cent in 2022. In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said that despite the moderated performance, the economy remained resilient, particularly through private final consumption expenditure, which increased 6.7 per cent. ‘The growth was propelled by ongoing enhancement in employment and wage through the implementation of a new minimum wage of RM1,500 starting May 2023,’ he said. DOSM today released the statistics for Malaysia’s Gross

KUCHING, Affin Bank Bhd has inked a memorandum of understanding (MoU) with three local industry players, namely Sarawak Digital Economy Corporation Bhd (SDEC), Dewan Usahawan Bumiputera Sarawak Kuching Branch and Chemsain Sustainability Sdn Bhd, to expand its footprint to boost small and medium enterprises (SMEs) in Sarawak. The collaboration with local industry players aims to foster digital transformation and sustainable growth in the region, said Affin Islamic Bank Bhd chief executive officer Datuk Syed Mashafuddin Syed Badarudin. ‘Through these collaborations, we aim to provide comprehensive support for SMEs in their digital transformation journey and facilitate access to a collaborative ecosystem,

KUALA LUMPUR, A total of 3.4 million of the 13.1 million Employees Provident Fund (EPF) members under the age of 55 have made withdrawals from the Flexible Account amounting to RM8.9 billion as of July 19, 2024. Finance Minister II Datuk Seri Amir Hamzah Azizan said that for the same period, a total of 3.8 million or 29.3 per cent of EPF members chose to have the initial amount in the Flexible Account (Account 3) with a transfer of RM12.6 billion, while RM5.6 billion was transferred to the Retirement Account (Account 1). He said the transfer to the Retirement Account