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  • Faster payout for Edusave Award recipients via Singapore’s new PayNow trial

    January 18, 2018 7:01 AM 8

    Recipients currently receive cheques at the award ceremonies, which they have to deposit with a bank before the money can be credited to their accounts in about two working days. — TODAY pic SINGAPORE, Jan 18 — Some 34,000 winners of Edusave Awards can look forward to a faster and more convenient way of receiving the funds via e-payment when a new trial

  • Gov losing RM8b in tax revenue from illicit trade

    January 18, 2018 5:16 AM 5

    KUALA LUMPUR: The Institute for Democracy and Economic Affairs (IDEAS) has estimated that government is losing some RM8 billion in tax revenue annually due to illicit trade. Last year, the illicit tobacco market alone is believed to have contributed about RM4.4 billion in tax revenue losses. Apart from the tobacco industry, these losses also come from the black

  • MPOB: Malaysia palm oil output, exports forecast to rise in 2018

    January 18, 2018 5:09 AM 7

    A worker carries palm oil fruits during harvest time at Teluk Payu village in Banyuasin, Indonesia’s South Sumatra province, November 28, 2016, in this picture taken by Antara Foto. — Reuters picKUALA LUMPUR, Jan 18 — Palm oil production in Malaysia, the world’s second-largest producer of the edible oil, will rise by 3 per cent in 2018, an industry body forecast

  • Thailand recommends daily minimum wage hikes up to 7pc

    January 18, 2018 4:33 AM 7

    File photo of a bank cashier counting Thai baht notes in a bank in Bangkok. – AFP picBANGKOK, Jan 18 — Thailand’s Central Wage Committee has recommended that the daily minimum wage be increased by 7 per cent to 330 baht (US$10.33) in its two most industrialised provinces, Chonburi and Rayong. The committee recommended increases of between 5 to 22 baht across

  • Malaysia’s Khazanah raises US$320.8m in exchangeable sukuk

    January 18, 2018 3:49 AM 8

    Khazanah's managing director Tan Sri Azman Mokhtar answers questions from the media at a special briefing on the 12-point MAS recovery plan in Kuala Lumpur, on August 29, 2014. — Picture by Choo Choy MayKUALA LUMPUR, Jan 18 — Malaysia’s state investor Khazanah Nasional Bhd said today it has raised US$320.8 million (RM1.2 billion) through a sukuk that is exchangeable

  • S. Korea considering shutting down all virtual currency exchanges

    January 18, 2018 3:02 AM 7

    A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. — Reuters picSEOUL, Jan 18 — South Korea’s financial regulator chief said the government is considering shutting down all local virtual currency exchanges in a national policy committee meeting this morning. “(The government) is considering both shutting

  • Fast Retailing to launch Uniqlo brand in Sweden this year

    January 17, 2018 6:36 AM 11

    A woman checks her phone in front of a panel outside the flagship store of Japanese fashion house Uniqlo at Hong Kong’s Causeway Bay shopping district May 9, 2013. — Reuters picTOKYO, Jan 17 — Japan's Fast Retailing Co said today it planned to launch its Uniqlo clothing brand in Sweden with a first store opening in Stockholm this fall, in a move that would

  • TNB shares take hit in Bursa morning trade

    January 17, 2018 5:38 AM 10

    The Tenaga Nasional Berhad (TNB) logo is seen on a building in Kuala Lumpur April 29, 2016. — Picture by Saw Siow FengKUALA LUMPUR, Jan 17 — Tenaga Nasional Bhd’s (TNB) shares on Bursa Malaysia took a hit in the morning session today, after the Energy Commission (EC), announced that the national power company would bear the RM929.37 million rebate to maintain

  • Petronas awards MCM deals to five local contractors

    January 16, 2018 3:11 PM 7

    PETALING JAYA: Petroliam Nasional Bhd’s (Petronas) subsidiary Petronas Carigali Sdn Bhd has awarded contracts for the provision of maintenance, construction and modification services (MCM) at its offshore facilities in Peninsular Malaysia, Sabah and Sarawak to five local contractors. In a statement yesterday, Petronas said Carimin Engineering Services

  • UMW Oil & Gas unit awarded 3-year Petronas Carigali contract

    January 16, 2018 12:36 PM 7

    PETALING JAYA: UMW Oil & Gas Corp Bhd’s unit UMW Workover Sdn Bhd (UWO) has been awarded a three-year contract by Petronas Carigali Sdn Bhd for an undisclosed contract sum. In a filing with Bursa Malaysia today, UMW Oil & Gas said the contract is for the provision of 340,000 and 460,000 hydraulic workover units (HWUs) to undertake workover services for Petronas