Business

Local industries should move towards digitalisation in new norm, urges deputy minister

Kuala Lumpur, 4 June 2020- Local industries and businesses should turn to digitalisation as a medium in establishing Malaysian brands globally in the “new normal” era. Deputy International Trade and Industry Minister Datuk Lim Ban Hong said it is important for traders and Malaysians to strike an ideal balance between saving lives and income sources amid the country’s …

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Economic Recovery Plan to cushion economy from sharp contraction — Affin Hwang Capital

Kuala Lumpur, 3 June 2020- Affin Hwang Capital expects the upcoming Short-Term Economic Recovery Plan (ERP) to cushion the domestic economy from a sharp contraction. It said the government had previously announced a RM266 billion Economic Stimulus Package (PRIHATIN) to provide short term relief of about three to six months of assistance to support the …

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MDEC embarks on efforts to help SMEs adopt digital technology

Kuala Lumpur, 2 June 2020 – The Malaysia Digital Economy Corporation (MDEC) has embarked on various efforts to help small and medium enterprises (SMEs) adopt digital tools such as remote working, e-commerce and payment-related operations. Its business digital adoption director, Muhundhan Kamarapullai said MDEC is also reinforcing the importance of digital marketing amidst the COVID-19 pandemic and the Conditional Movement Control …

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SMEs’ presence on online business pages intensifies amidst Covid-19

Kuala Lumpur, 28 May 2020- As Covid-19 has changed the way business is conducted, demand for online business pages has intensified among the small and medium enterprises (SMEs) to survive the pandemic. Locally, broadcasting a brand on business pages, whether its Facebook Ads or Instagram Ads is now seen as “a must” to ensure businesses’ …

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MEDAC to allocate RM452.8m under entrepreneurs’ business recovery plan

Kuala Lumpur, 25 May 2020- The Ministry of Entrepreneur Development and Cooperatives (MEDAC) will allocate RM452.8 million to assist COVID-19 hit entrepreneurs under a business recovery plan to support the stability of the entrepreneurial ecosystem. The allocation is expected to benefit more than 21,847 micro entrepreneurs, small and medium enterprises, social entrepreneurs, startups and cooperatives. …

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As economy reopens, World Bank tells Malaysia to transform businesses to survive new normal

Kuala Lumpur, 22 May 2020- World Bank lead economist Richard Record said today the Malaysian Government’s approach should eventually move from mitigating COVID-19 pandemic-driven supply and demand shocks to transforming business sectors to survive the new normal. Record said the question is at what point does the Government continue to mitigate the impact of the …

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Moneysave P2P Platform Crowdfunding to assist 40,000 Malaysia SMEs with RM 8 billion of investments

Petaling Jaya, 20 May 2020 – Moneysave (M) Sdn. Bhd. has recently announced the launch of its Peer-to-Peer (P2P) Crowdfunding platform to assist 40,000 Malaysian SMEs with RM8 billion worth of investments from investors with between 7 and 16% returns per annum in the next 5 years. According to Chief Executive Officer/Founder, Vincent Soh, “To …

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RM3 billion loans approved for 6,840 SMEs – Tengku Zafrul

Kuala Lumpur, 6 May 2020 -Loans totalling RM3 billion have been approved and accepted by 6,840 small and medium enterprises (SMEs) under the government’s easy financing scheme until May 5, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said. The amount was an increase from RM1.5 billion extended to 3,363 SMEs until April 26. He said the majority of the amount came from …

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