Highlights:
- Malaysia registers lower net DIA outflow of RM24.9 bln in 2017
- Malaysia’s FDI records slightly lower net inflow of RM41 bln in 2017
- Fisheries gross output worth RM14 bln last year
- All government agencies to have child nursery at the work place next year
- Japan classifies current heatwave as a ‘natural disaster’
- Singapore to launch 5G pilot network this year
Malaysia registers lower net DIA outflow of RM24.9 bln in 2017
Malaysia registered lower net direct investment abroad (DIA) flows of RM24.9 billion in 2017 against RM33.2 billion recorded the previous year. The Department of Statistics (DOS) said the investment abroad in 2017 was channelled mainly to the services, mining and quarrying sectors, as well as manufacturing. Investment in the services sector was primarily in financial and insurance/takaful and real estate activities. “In terms of regions, Asia was the top destination for Malaysia’s DIA flows, contributing half the investments at RM13.7 billion, followed by Americas and Europe.” For Asia, net DIA flows were mainly to Singapore and Indonesia, while Turkmenistan replaced India as the third largest destination.
The DOS also said that Malaysia’s foreign direct investment (FDI) recorded net inflows of RM41 billion in 2017, slightly lower than the RM47 billion secured the previous year. It said that FDI inflow last year was mainly channelled to the services sector (48.2 per cent), particularly to the real estate, financial and insurance/takaful and information and communication activities. Mining and quarrying was the second contributor (313.2 per cent), followed by the manufacturing sector (15.7 per cent). As at end-2017, the expansion of the FDI position to RM570.3 billion, compared with RM547.4 billion in 2016, was impelled by the continuous inflows of FDI.” The top regions for inflows were Asia with a share of 63.5 per cent, followed by Europe and Africa.
Fisheries gross output worth RM14 bln last year
The gross value of fisheries output totalled some RM 14 billion last year, with the highest attributed through fish catch, and the remaining shared by aquaculture and land fisheries industries respectively. The fish catch output value recorded at RM11 billion, while RM2.9 billion through aquaculture and the land fisheries (fresh water breeding etc) RM0.1 billion. The Ministry of Agriculture and Agro-Based Industry secretary-general, Datuk Munir Mohd. Nawi said the fisheries industry has contributed at least 9.5 per cent of the Gross Domestic Product (GDP), providing business activities and creating employment opportunities to locals. However, the total could have been more as the government had estimated a loss of RM6 billion every year, as foreign boats and trawlers continued to rob the national coffers. Of the total, RM1.8 billion came from deep-sea fisheries and the remaining of RM4.2 billion came from the inshore fisheries.
All government agencies to set up child nursery at the work place next year
The Women, Family and Community Development Ministry is targeting that all government agencies set up a Child Nursery at their respective work places in January 2019 involving shift workers. Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said the ministry would also collaborate with the Education Ministry so that facilities for teachers serving at such schools could be provided. Dr Wan Azizah, who is also the Minister of Women, Family and Community Development, said the government had provided various incentives to encourage the establishment of child nurseries at the work place including the granting of RM180 per month for childcare fees for each child of an officer whose monthly household income did not exceed RM5,000. “For private sector employers, tax exemption incentives could be sought from the government where tax exemption of 10 per cent for 10 years are given to renovate and maintain a building in order to set up the child nursery,” she said.
Japan’s deadly heatwave now classified a ‘natural disaster’
Government officials in Japan said an unprecedented heatwave in Japan has killed at least 65 people in one week and the weather agency has classified the record-breaking weather as a “natural disaster”. The Fire and Disaster Management Agency said in the week to Sunday at least 65 people died of heatstroke while 22,647 people were hospitalised. The Fire and Disaster Management Agency said Tuesday that a total of 80 people have died from the heat since the beginning of July, and over 35,000 have been hospitalised. The government said it would supply funds to ensure all schools are equipped with air conditioners by next summer. Less than half of Japan’s public schools have air conditioning, and the figure is only slightly higher at public kindergartens. On Monday, the city of Kumagaya in Saitama outside Tokyo set a new national heat record, with temperatures hitting 41.1 degrees Celsius.
Singtel and Ericsson to launch Singapore’s first 5G pilot network
Singtel and Ericsson will launch by the fourth quarter of this year Singapore’s first 5G pilot network at one-north, the country’s science, business and IT hub. Using Ericsson’s 3GPP standards compliant 5G technology with the trial spectrum allocated by InfoCommunications Media Development Authority (IMDA), the pilot network can deliver 5G coverage with enhanced Mobile Broadband (eMBB) speed and low latency communications. With speeds that are 10 times faster average speeds than prevailing 4G rates, 5G will enable the transmission of terabytes of data in minutes and 4K video downloads in seconds. Industries such as transportation, healthcare and manufacturing can leverage 5G to accelerate digital transformation and deploy advanced automation technologies. Singtel and Ericsson are planning drone and autonomous vehicle trials on their 5G pilot network later this year at one-north and other designated areas. Enterprises can use the network to develop new 5G use cases and tap the business potential of 5G.
Accounting and Finance Show Asia 2018 brings latest technology and solution
Digital Innovation is revolutionising accounting and financial management. With new technology such as Cloud accounting, and a plethora of cutting-edge applications, software and services, accounting processes are being streamlined and are becoming more efficient. These world-class financial solutions are low-cost, scalable and mobile – available to not only large enterprises with big budgets, but SMEs as well. The Accounting and Finance Show Asia will bring together the latest technology and solutions, accountancy practices, experts, advisors, consultants and SMEs at the Suntec Convention Centre in Singapore from 16-17 October 2018. The Show is organised with support from Infocomm Media Development Authority (IMDA), Singapore Accountancy Commission (SAC) and Workforce Singapore (WSG). The two-day show aims to create awareness of the possibilities of digital solutions amongst the accounting and finance functions of SMEs and the Accounting Entities (AEs), and will showcase the world’s best accounting and finance technology solutions with live demos. Some 2,000 attendees from SMEs and accountancy practices are expected to attend the Show.
