Dr M: Malaysia aims to be South-East Asia’s Industry 4.0 hub
Malaysia is targeting to be an Industry 4.0 hub in South-East Asia to regain its status as an Asian Tiger. Prime Minister Tun Dr Mahathir Mohamad said there was no choice but to be aggressive in adopting Industrial Revolution 4.0 in view of the accelerated speed in which new technologies evolved. Dr Mahathir said digital transformation was expected to accelerate a sustainable future for Malaysia, as Industry 4.0 could lead to an increase in the GDP per capita following increased productivity and employment opportunities. While new technologies could be disruptive, it could also boast exciting prospects and challenges. Technologies such as the Internet of Things, Advanced Robotics, Artificial Intelligence and Additive Manufacturing are contributing factors to generate an increase in net productivity, he said. (The Star Online)
State govts can set own property price limit for foreigners
State governments can still set their own property price limit for foreigners based on the current situation in their respective states, says Housing and Local Government Minister Zuraida Kamaruddin. She said the suggestion to lower the price threshold for foreign buyers from RM1mil to RM600,000 announced in Budget 2020, could be re-examined according to the needs of each state. Finance Minister Lim Guan Eng announced that this move was to reduce the supply overhang of condominiums and apartments and to clear existing stock. Selangor and Penang are reviewing the lowering of the threshold price for foreigners to buy condominiums and apartments in urban areas. (The Star Online)
Govt to tender out new Pan Borneo Highway packages in 2020
The government will tender out three new work packages under the Pan Borneo Highway project in the first quarter of next year. Works Minister Baru Bian said the government has agreed to approve three packages in Sabah – namely packages 28, 29 and 30 – which cover road upgrading works, totalling a distance of 60km between the Telupid and Beluran interchange, at a cost of RM980 million. He said this is on top of the 12 work packages in the state which are already being implemented. “Meanwhile, 20 other packages that have yet to be tendered out will be implemented under the 12th Malaysia Plan, between 2021 and 2025, subject to budget approval from federal agencies,” he said. (NST Online)
Eco World set to hit RM6b sales target
Eco World Development Group Bhd, which has seen its financial performance rebound in the third quarter of its current financial year, expects to hit its sales target of RM6bil over the 2019 and 2020 financial years after sales picked up this year. President and CEO Datuk Chang Khim Wah said most of its sales so far for the current financial year have come in over the past six months and bolstered its sales over the 10 months of FY19 that is reaching close to RM2bil. “Based on the strong sales trajectory we have seen across all our projects, we believe we are on track to achieve our two-year sales target of RM6bil, ” he said. A similar picture for EWI is also forming, with the international arm of the Eco World group also expected to see an acceleration of profits over the next few years. (The Star Online)
Brexit on Oct 31 a ‘priority’ for British govt: Queen
British Prime Minister Boris Johnson on Monday set out his government’s priorities at a parliamentary ceremony attended by the queen, with Brexit top of the agenda. Queen Elizabeth II announced in a speech to lawmakers a list of 26 new bills ranging from implementing a yet-to-be finalised EU divorce agreement to criminal sentencing and the environment. “My government’s priority has always been to secure the United Kingdom’s departure from the European Union on October 31,” the 93-year-old monarch said. “My government intends to work towards a new partnership with the European Union, based on free trade and friendly cooperation.” The raft of policies outlined included plans for an EU Withdrawal Agreement Bill to enshrine in British law, more than three years after Britons voted narrowly in a 2016 referendum to leave the bloc after nearly five decades of membership. (NST Online)
British Queen Elizabeth gives “The Queen’s speech” to the House of Lords for the ceremonial opening of Parliament in the United Kingdom. (Source: CNN.com)
