BUSINESS CORRIDORS NEWS
Singapore Foreign Minister On Working Visit To Sabah – Bernama – read more
Singapore’s Foreign Minister Dr Vivian Balakrishnanakan will undertake a three-day working visit to Sabah, Malaysia from tomorrow (April 1 to 3). Wisma Putra, in a statement, said Dr Vivian would host a ‘thank you’ reception on April 2, in Kota Kinabalu, Sabah to express the Singapore government’s appreciation for the assistance rendered by the Malaysian authorities to the Singapore Crisis Action Team following the earthquake in Sabah on June 5 last year. Last year, Singapore was Malaysia’s second biggest trade partner globally and the biggest among the member countries of ASEAN. The total trade between the two countries were RM190 billion (UA$59.5 billion) in 2015.
INDUSTRY NEWS
CIMB sees uptrend in consumer banking – The Star – read more
CIMB Group Holdings Bhd is confident of a pick-up in its consumer banking business in the second half of the year, in spite of the challenging economic outlook. CIMB Group consumer banking chief executive officer Renzo Viegas said he expected loans growth to be slower, compared with last year as consumers remained cautious. “Despite the investment products out there, people are concerned about the global and local economy. Many are holding back on their investing decisions,” he told a press conference to announce a tie-up with Tesco Stores (M) Sdn Bhd here yesterday. “However, the mass affluent will continue investing and we believe things will improve in the second half of the year. We believe that in the second half when things would become more stable and predictable.”
ECONOMIC NEWS
Zeti: Foreign funds continue to show interest in Malaysia – The Star – read more
The inflow of foreign funds that is taking place reflects continued interest in Malaysia, says Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.“I believe that Asia is a profit centre in the global economy, and Malaysia, which is very much part of this region, is still a growth centre in the global economy,” said Zeti after the Kijang Emas Scholarship Award presentation ceremony held in Bank Negara here yesterday. She added that the global environment is a highly uncertain one.
BUSINESS NEWS
Bumi Armada Proposes To Implement Management Incentive Plan – Bernama – read more
Bumi Armada Bhd has proposed to establish and implement a management incentive plan (MIP) for eligible employees and executive directors, as well as, those in its subsidiaries. In a filing to Bursa Malaysia Thursday, Bumi Armada said, the proposed MIP aimed to serve as a long-term incentive plan that aligned the eligible employees’ interests with the long-term objectives and business strategies of the group. “The MIP will form part of the total remuneration structure for the eligible employees, as an integral part of the group’s total reward strategy in providing commensurate remuneration and benefits.
MCMC arrests engineer over Facebook comments about Najib – The Star – read more
The Malaysian Communications and Multimedia Commission has arrested an engineer who allegedly uploaded offensive and insulting comments about Prime Minister Datuk Seri Najib Tun Razak on the Facebook account of a news portal recently. MCMC, in a statement on its Facebook account Wednesday, said the 26-year-old individual was picked up in an operation conducted by MCMC with the Commercial Crime Investigation Division of the Putrajaya Police headquarters. A report had been lodged that the engineer made the comments in reaction to an article carried by the news portal on its Facebook account on March 25.
