The week at a glance 22 October 2017

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Sabah & Sarawak

Vivocom’s newest major shareholder will bring good tidings

Vivocom International Holdings Bhd’s (Vivocom) newest upcoming major shareholder – Hong Kong Stock exchange listed developer CNQC Holdings Ltd (CNQC) – is set to bring the group good tidings to their construction segment. The group had announced last Friday that two of their major shareholders, Ang Li-Hann and Golden Oasis Resources Sdn Bhd, had on October 13, 2017 signed indicative term sheets for the proposed sale of up to 317,920,140 and 652,346,283 ordinary shares in Vivocom respectively to CNQC.

 

Sarawak poised to become leader in biomass industry in Asia

Sarawak is set to become the leader and potentially Asia’s first integrated biomass cluster or BioHub, leveraging its other existing bio-resources that could be integrated to complement and exemplify the concept of a sharing economy. Chief Minister Datuk Patinggi Abang Johari Tun Openg said the assessment showed that the state had tremendous potential to capitalise on its biomass towards generating RM4.8 billion in additional gross national income (GNI), creating 30,000 job opportunities and RM18 billion in investment opportunities throughout the entire biomass value chain.

 

Batang Lupar MP calls for investment in food production sector

The member of Parliament (MP) for Batang Lupar, Datuk Seri Rohani Abdul Karim, has urged investors nationwide to invest in the food production sector in the constituency. Rohani, who is also Women, Family and Community Development Minister, said that Stumbin, Lingga, has the largest paddy field outside Peninsular Malaysia with over 3,000 hectares while Sebuyau was well-known for salted Terubok, jellyfish processing and kelulut honey.

 

Boilermech to gain from strong overseas market demand

Analysts believe palm oil mill boiler maker Boilermech Holdings Bhd (Boilermech) stands to gain from strong demand from overseas market, on the back of its venture into biogas and water treatment in Kuching. According to researchers at JF Apex Securities Bhd, most of Boilermech’s revenues were generally derived from Malaysia and Indonesia.

 

Kota Kinabalu’s free WiFi service to spur Sabah’s digital economy

The introduction of free broadband or WiFi service in Kota Kinabalu will help promote the development of Sabah’s digital economy and tourism industry, Chief Minister Tan Sri Musa Aman said. He said the service would also become a platform for future public initiatives in developing and enhancing the e-government digital network.

 

National

AIMS Group hopes budget 2018 will reclassify data centre industry

AIMS Group hopes the government, under Budget 2018, will reclassify the data centre industry as a manufacturer to bring down the tariff of power for the industry which will lower the cost of operations. Group chief executive officer Chiew Kok Hin said these savings would be passed on to its customers, making Malaysia more attractive and economically viable option for global investment.

 

Petronas calls for ING producer-consumer collaboration

Petroliam Nasional Bhd, currently the world’s third-largest liquefied natural gas producer, has urged LNG producers and consumers to collaborate towards encouraging growth and sustainability of the industry. In a statement, its president/group chief executive officer, Wan Zulkiflee Wan Ariffin, said that while demand for LNG has grown, there was a possibility of industry stagnation if LNG prices did not encourage necessary investments to sustain the business.

 

Pikom asks for more affordable ICT tools in Budget 2018

Malaysians need more affordable information and communications technology tools in order to position the country as a leader in the digital age, the National ICT Association of Malaysia said. The association asked the government to provide affordable and accessible ICT hardware and software in the 2018 Budget in the quest to create an educated and informed nation in line with the new digital era.

 

Call for more Budget 2018 incentives to boost tourism

The existing tax incentive framework for tourism players should be revisited to ensure a thriving and sustainable industry, called on Deloitte Malaysia executive director Tham Lih Jiun.

Tham suggested several initiatives for Budget 2018 to further incentivise the domestic tourism industry, one of which is to enhance incentives for qualifying eco-tourism projects.

 

MIER revises upwards 2017 GDP to 5.4 pct

The Malaysian Institute of Economic Research (MIER) has revised upwards Malaysia’s gross domestic product (GDP) to 5.4 per cent for this year, driven by domestic and stronger external demands.

Executive director Dr Zakariah Abdul Rashid said the revision was 0.6 percentage point higher from its July forecast of 4.8 per cent.

 

YTL Corp, YTL power announce boardroom changes

YTL Corporation Bhd and YTL Power International Bhd  announced boardroom changes after the demise of Tan Sri Dr Yeoh Tiong Lay. Yeoh, the founder of the YTL Group of Companies, was executive chairman of YTL Corporation and YTL Power International, passed away peacefully on October 18, aged 88 years old.

 

Cloud First strategy to be introduced to national agenda

The ‘Cloud First’ Strategy will be introduced to the national agenda, starting with the public sector, as it is fundamental to an organisation’s digital transformation, said Prime Minister Datuk Seri Najib Tun Razak.