World Bank sees Malaysia’s growth at 4.9% for 2017
THE World Bank has revised upwards its growth projection for Malaysia by 0.6 percentage points to 4.9 per cent for this year, citing solid economic activities. It also revised upwards the nation’s growth forecasts for next year and 2019 by 0.4 and 0.5 percentage points, respectively. The economy was projected to grow by 4.9 per cent next year and 5.0 per cent in 2019, said the World Bank in this month’s global economic prospects. It said income support measures, higher infrastructure spending and improved exports were expected to drive growth.
RHB Islamic collaborates with IRDA to manage RM11.5 million fund for SME programs
RHB Islamic Bank (“RHB Islamic”) has entered into a collaboration with government-linked agency, Iskandar Regional Development Authority (“IRDA”), to manage an RM11.5 million fund for the SME Micro Financing (IMProUD3) and Facilitation Fund (IMProUD1&2) programs with an aim to spur growth in the local SME ecosystem in Johor. RM3 million will be apportioned for IMProUD3 while RM8.5 million will be allotted for the IMProUD1&2 Program. The Fund will enable SME to boost its capital strength and enhance vitality of small SMEs in the region by offering micro financing deals at a low financing cost. The funding is carved out from Unit Peneraju Agenda Bumiputera (TERAJU).
Singapore Airlines CEO signals job cuts loom in business review
Singapore Airlines has signalled that some jobs could get the axe as it undertakes a business review. Its CEO Goh Choon Phong was quoted saying that some jobs may become “irrelevant”, while some workers may need new skills for different tasks. Goh, however added that it was too early to provide numbers. SIA, which reported the first quarterly loss in five years, started the review over six months ago. The review covered the premium carrier’s fleet and network. The airline had hired external advisers to help undertake the review.
Perodua Bezza debuts in Sri Lanka
The Bezza 1.0L made its debut in Sri Lanka Tuesday at a launch organised by Perusahaan Otomobil Kedua Sdn Bhd’s (Perodua) official distributor, Unimo Enterprises Ltd. Perodua said in a statement that Sri Lanka is its largest export market and that 14,000 units have been sold between 1997 and 2017. Currently, Unimo imports the Perodua Axia, which saw sales of 1,400 units last year. Perodua president and chief executive officer Datuk Dr Aminar Rashid Salleh said starting this year, Perodua is seriously looking at further expanding its export markets and studying new ones, consistent with its vision of becoming a regional playe
