News

As the one-year visa waiver program between Malaysia and China nears its halfway point, there's a strong push from key stakeholders to extend the initiative past its December expiration. The Malaysian Inbound Tourism Association (MITA) and other industry leaders have observed significant benefits from the policy, sparking a discussion on making the visa exemption permanent to sustain tourism...

Penang's New LRT Line: A Leap Toward Enhanced Urban Mobility and Tourism The eagerly anticipated Penang Mutiara Route Light Rail Transit (LRT) project is set to redefine transportation in the region, offering a much-needed solution to the perennial traffic congestion by connecting vital urban and suburban areas. This strategic development is not just a transit project; it is a transformative urban...

In a significant development within Malaysia’s building materials sector, Signature International Bhd, a renowned kitchen cabinet manufacturer, has been presented with a conditional takeover bid from Chin Hin Group Bhd. This offer, disclosed on a recent Friday, seeks to consolidate Chin Hin’s position in the market by acquiring all remaining shares of Signature International that it does not already...

In a significant development that could reshape financial planning for countless Malaysians, the Employees' Provident Fund (EPF) is undergoing a major restructuring. This includes a rebranding of EPF Account 1 to Account Persaraan (Retirement Account), Account 2 to Account Sejahtera, and most intriguingly, the creation of the new Account 3, also known as the Flexible Account. Here's what you need to know...

Kuala Lumpur Soars in Smart City Rankings: A Beacon for Investors Kuala Lumpur's recent leap in the 2024 Smart City Index (SCI), climbing a remarkable 16 places to rank 73rd among 142 evaluated global cities, marks a significant stride in its development as a smart city. This achievement reflects the city's ongoing improvements in digital infrastructure and public services, signaling a burgeoning hotspot...

The ambitious Trans Borneo Railway Project, designed to link key locations across Borneo, has been a topic of significant interest for its potential to boost the economic landscape of the region. Recently, Datuk Seri Mohd Shafie Apdal, the president of Parti Warisan Sabah (Warisan) and former Chief Minister of Sabah, voiced a compelling proposition for the project's expansion. Highlighting a vision for...

As global economic dynamics shift, Malaysia is positioning itself as a premier destination for multinational corporations (MNCs) seeking alternatives to Singapore's escalating operational costs. Economists are taking note of Malaysia's strategic efforts to attract these corporations, particularly from Japan, as they diversify their regional headquarters locations in response to Singapore's rising...

Empowering Malaysia Through Artificial Intelligence: A Vision for Tech-Led Growth In a recent exposition, Karan Bhatia, Google’s Global Head of Government Affairs and Public Policy, outlined a transformative vision for Malaysia, highlighting the pivotal role of artificial intelligence (AI) in steering economic growth and establishing Malaysia as a leader in technology. Bhatia’s insights emphasize the...

The unveiling of the Penang Light Rail Transit (LRT) Mutiara Line project has sparked a vibrant discussion about the future of transportation and socio-economic development in Penang. Amidst this discourse, Chief Minister Chow Kon Yeow has called on non-governmental organisations (NGOs) and the public to recognize the transformative potential of the project, highlighting its thorough planning process and...

In a recent assessment, Victor Yong, an interest rates strategist at UOB Global Economics and Market Research, has provided a detailed outlook on the future movements of the Bank Negara Malaysia’s (BNM) Overnight Policy Rate (OPR). According to Yong, BNM is expected to maintain the OPR at 3.00 percent for at least another twelve months, with the next adjustment likely to be a reduction. Yong’s...