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Demand for financial technology in Islamic finance industry has been rapidly increasing according to the Islamic Finance Services Board (IFSB). The IFSB reported that they have observed how more and more customers are looking for other ways to do banking. In IFSB’s Annual Meetings and Side Events 2017 last April 4, secretary-general Jaseem Ahmed commented on how fintech could potentially change the landscape of Islamic finance. He stated, “There are tremendous opportunities for fintech within Islamic finance. In the aftermath of the global financial crisis, there has been a loss of confidence, so people are looking for alternatives.” Jaseem explained… Read More

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Carlsberg Brewery Malaysia Bhd expects growth despite the challenges that they are currently facing in the traditional beer market. Managing director Lars Lehmann believes that Carlsberg will sustain expansion in the region even at a small pace. He says that the consumer’s inclination towards their premium brands will be enough to keep them afloat throughout the year. “We still believe that we can register growth in the current challenging market. This is mainly due to the expectation of a strong performance of our premium brands. Last year, our premium brands registered double-digit growth, faster than the overall market’s growth.” Carlsberg… Read More

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Leading financial information provider, Fitch Ratings confirms a positive outlook for Malaysia’s economic path for this year. Forecast for Malaysia’s 2017 shows that it is on its way to a stronger economy. Fitch Rating reaffirms this, putting an ‘A’-rating on the Southeast Asian country. This report appeared in a sovereign overview for Malaysia’s third and fourth quarter for 2017. The long-term prediction for both foreign and local currency international default rating (IDR) is solid for the rest of 2017. Fitch ratings added that the stable Malaysian forecast is because of its growth prospects and economic potential. They cited example such… Read More

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Malaysia’s biggest bank, Malayan Banking Bhd (Maybank), declared their optimistic projections for the year. Michael Foong, group chief strategy officer of Maybank confirmed the positive outlook saying that the banking institution sees more than 50% of increase this year or an estimated RM25bil on banking transactions with the help of their mobile platform, Maybank2u app. In a statement released last April 3, Foong revealed that digital banking is expanding rapidly. He said, “In 2016, the number of transactions carried out via mobile devices grew by 72%, while transactions via all online channels (including desktops and personal computers) rose by 41%,… Read More

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An estimated RM4.7 billion has been invested in Bursa Malaysia in foreign funds according to the chief executive of Malaysia’s premier stock exchange, Datuk Seri Tajuddin Atan. Mr Tajuddin spoke to reporters in the annual general meeting for shareholders where he confirmed that Bursa Malaysia is experiencing active trading for the first quarter of the year. He added that the sustained momentum is unlikely to subside in the coming weeks. He expressed his enthusiasm saying, “Active trading has taken place in the first three months of the year. In fact, March 13-17 saw a fantastic flow of foreign funds amounting… Read More

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Forbes has officially announced the world’s richest people for the year 2017. And to nobody’s surprise, Bill Gates is still the wealthiest man alive followed by long-time rival on the top spot, Warren Buffett. The lineup for the world’s wealthiest includes familiar names such as Amazon’s Jeff Bezos and Zara’s Amancio Ortega which bagged the third and fourth spot respectively. Mexico’s Carlos Slim Helu is at number six thanks to his mobile telecom company. Brothers Charles and David Koch shared the eighth and ninth spot. Other tech giants such as Facebook’s Mark Zuckerberg got the number five spot while Oracle’s… Read More

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Do you have a good sense of humor? The become a millionaire by making jokes! We have compiled the best ways for Malays to take advantage of their funny talents and make good money. Contributor If you think that your humor is not enough to build an enterprise on but enough to make most of the people laugh, then become a contributor and earn extra cash. You can submit your jokes on famous publications such as Reader’s Digest. Or enter occasional contests. Entrepreneur The most straightforward way you can earn money is start a business and sell funny merchandise. Put… Read More

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The Prime Minister of Malaysia, Najib Razak, announced a deal with Saudi involving the biggest oil companies of each country. Saudi Aramco, the state oil firm, is partnering with Petronas, Malaysia’s premier oil and energy firm with a contract worth $7 billion. This agreement will grant Saudi Aramco a 50% stake in Petronas’ oil refinery project entitled Refinery and Petrochemical Integrated Development (RAPID) in Pengerang in Southern Johor. The endeavor is expected to produce an estimate of 300,000 barrels of oil daily for a total of 7.7 million metric tons per year. It is projected to be operational in the… Read More

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Malaysia’s consumer confidence sharply decreased in the fourth quarter (Q4) of 2016 according to the Nielsen Consumer Confidence Index. The data showed a drop of five points to 84 percentage points (pp) from the third quarter (Q3) of 2016. Known research firm Nielsen conducted the report and added that the projected consumer confidence in Malaysia will remain flat for the next six months. The manager of Nielsen Malaysia, Richard Hall commented about the matter saying, “With such low confidence level, we cannot expect consumer spending levels to move positively for the next six months. As such, I believe that consumer… Read More

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Aeon Credit has extended its outstanding performance, surpassing the forecasts of RHB Research Institute according to its company report. The company reported on Wednesday that the expected gross financing receivables grew to a modest 17% on-year in FY18. Aeon Credit recently tightened lending assessments in anticipation of the MFRS 9 Financial Instruments implementation which will occur on the first day of 2018. The company also ensured that a solid credit collection system remains in place to boost asset quality control. According to the report, Aeon Credit performed strongly. “Our FY18F earnings imply a 6% growth on-year. Our Gordon growth model-derived… Read More