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Tuesday, 27 Apr 2021 06:43 PM MYT Robots welding body-shells of car are pictured on the assembly line in the Proton manufacturing plant in Tanjung Malim, December 16, 2019. Reuters pic Subscribe to our Telegram channel for the latest updates on news you need to know. KUALA LUMPUR, April 27 The extension and enhancement of the automotive industry incentive by the government will attract more homegrown companies to explore expansion opportunities by venturing into new high-tech and high value-added products while expanding their supply chain in the region. In a statement today, the Malaysian Investment Development Authority (MIDA) said the new incentive was timely as the automotive industry in Asean had been rapidly evolving, with countries continuously innovating policies and strategies to attract investments, particularly for electric vehicles. ....
With this addition the facility provided by Bank Negara for SMEs stands at RM6bil. A fund totalling RM200mil under the Malaysian Industrial Development Finance (MIDF) is available for financing the development of automation, digitalisation and the usage of green technology. MIDF will also lower their interest rates from 5% to 3% for a period of 12 months effective April 1,2021, he said. Apart from that, Muhyiddin added that an additional allocation of RM50mil for the Smart Automation Grant under Malaysian Investment Development Authority (Mida) will be provided to enable more SMEs and mid-tier companies to enhance operational and manufacturing efficiencies through high-tech processes. ....
Malaysian Association of Hotels chief executive officer Yap Lip Seng told StarBiz: “Though limited to only business travellers at the moment, we are confident that it can be further fine-tuned and improved for other target groups.” PETALING JAYA: Hoteliers and property developers welcome the government’s move to allow business travellers into the country following the relaxation of the movement control order (MCO). Malaysian Association of Hotels chief executive officer Yap Lip Seng said the reopening of international borders is a huge step forward. “MAH is in full support of the move, where the industry had previously proposed similar procedures. ....
KUALA LUMPUR: Malaysia recorded RM164bil in approved investments through 4,599 projects in the manufacturing, services and primary sectors in 2020, with China as the top investor, according to the Malaysian Investment Development Authority’s (Mida) data. ....
Third From left is Nine Dragons Paper (Holdings) Ltd chairlady, Cheung Yan with Prime Minister Tan Sri Muhyiddin Muhammad Yassin. First from left is Nine Dragons Paper PR and admin director Isabel Kow Soek Foon and deputy CEO Zhang ChengFei. Second from right is Senior Minister, Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali and MIDA CEO Datuk Azman Mahmud. KUALA LUMPUR: China’s Nine Dragons Paper (Holdings) Ltd will invest up to RM5.40bil, involving the acquisition of a mill, and a factory to focus on paper products in Malaysia, endorsing the country’s attractive investment environment and business friendly policies. ....