Friday, 23 February 2018
Sort Updates

malaysia - Banking & Finance - News

Securities Commission Malaysia and Bursa Malaysia to implement New Measures to boost Market Vibran

Kuala Lumpur, Feb 14 - The Securities Commission Malaysia (“SC”) and Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) today outlined the operational details of various new measures to further enhance the vibrancy and liquidity of the equity market.
Date: 14 February 2018; Type: Legal News; Source: Bursa Malaysia

SC, Bursa unveil Details of Equity Market Measures

KUALA LUMPUR, Feb 14 (Bernama) - The Securities Commission Malaysia (SC) and Bursa Malaysia Bhd have outlined the operational details of various new measures to further enhance the vibrancy and liquidity of the equity market as announced by the Prime Minister Datuk Seri Najib Tun Razak recently.
Date: 14 February 2018; Type: Legal News; Source: Bernama

BNM to introduce Policies to preserve Economic, Financial Stability

KUALA LUMPUR, Feb 14 (Bernama) - Malaysia will continue to introduce new policies, as new risks from external spillovers emerge, in order to preserve macroeconomic and financial stability, says Bank Negara Malaysia (BNM).
Date: 14 February 2018; Type: Legal News; Source: Bernama

MoF implements National Regulatory Sandbox Initiative

PUTRAJAYA, Feb 14 (Bernama) - The Ministry of Finance (MoF) has started to implement the National Regulatory Sandbox Initiative which involves the creation of a brain-storming group from regulators and selected industry players to enable innovators to test their solutions or products in a conducive environment. Its Secretary-General, Tan Sri D ...
Date: 14 February 2018; Type: Legal News; Source: Bernama

Malaysia needs centralized, affordable Housing Initiative, Database: BNM

KUALA LUMPUR, Feb 12 - A centralised and affordable housing initiative and database will definitely enhance efficiency in planning, implementation and execution, said Bank Negara Malaysia (BNM).
Date: 12 February 2018; Type: Legal News; Source: Bernama

Concept Paper on Cryptocurrency to be finalized this Month - BNM Governor

KUALA LUMPUR, Feb 10 (Bernama) - A concept paper on cryptocurrency will be finalised this month and made available for the public to decide on the future of this form of currency, said Bank Negara Malaysia Governor, Tan Sri Muhammad Ibrahim.
Date: 10 February 2018; Type: Legal News; Source: Bernama

Policymakers Need to remain Agile in approach to Policies: BNM

KUALA LUMPUR, Feb 9 (Bernama) - Policymakers need to remain agile in their approach to policies and not be too rigid in their own ways in neglecting changes in the environment, said Bank Negara Malaysia (BNM).
Date: 09 February 2018; Type: Legal News; Source: Bernama

Government approves Loans of RM107 Million to 588 Chinese SMEs

PUTRAJAYA, Feb 9 (Bernama) - The government has approved loans of RM107 million through Koperasi Jayadiri Malaysia Bhd (Kojadi) to 588 Chinese Small and Medium Enterprises (SMEs) in the country since 2016, said Minister in the Prime Minister's Department, Datuk Seri Dr Wee Ka Siong.
Date: 09 February 2018; Type: Legal News; Source: Bernama

SC wins Insider Trading Case against former Founder of WCT Bhd

The High Court today found that the Securities Commission Malaysia (SC) had successfully proven an insider trading case against Chan Soon Huat, a former founder and director of WCT Bhd (WCT).
Date: 24 January 2018; Type: Legal News; Source: Securities Commission

One Day in Jail, RM50,000 Fine for Businessman

SHAH ALAM, Jan 26 (Bernama) - A businessman was sentenced to a day's jail and fined RM50,000 in default 12 months imprisonment by the Sessions Court here today for offering remittance service without a licence from Bank Negara Malaysia (BNM).
Date: 26 January 2018; Type: Legal News; Source: Bernama

OPR increase does not burden Consumers - PM

NEW DELHI, Jan 25 (Bernama) - Bank Negara Malaysia's (BNM) decision to raise the Overnight Policy Rate (OPR) by 25 basis points to 3.25 per cent will not burden consumers.
Date: 25 January 2018; Type: Legal News; Source: Bernama

BNM issues Credit Risk Policy Document on Credit Risk

The Bank has issued the policy document on Credit Risk for banking institutions, insurers and takaful operators, and financial holding companies. The revised standard is a culmination of the Bank’s comprehensive review of the existing regulatory framework, Best Practices for the Management of Credit Risk guidelines. The revised standard aims ...
Date: 22 January 2018; Type: Legal News; Source: Bank Negara

Unapproved 'Kiriman Wang' costs Businessman RM15,000

SHAH ALAM, Jan 19 (Bernama) - A businessman was fined RM15,000 in default 12 months imprisonment by the Sessions Court here today for using 'kiriman wang´ without written approval from Bank Negara in an advertisement at his business premises.
Date: 19 January 2018; Type: Legal News; Source: Bernama

Be wary of Initial Coin Offerings

KUALA LUMPUR, Jan 19 (Bernama) - Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) have advised the public to be wary of any Initial Coin Offering (ICO) schemes.
Date: 19 January 2018; Type: Legal News; Source: Bernama

NEW Admission into Practice Note 17 - Amtek Holdings Berhad

Bursa Malaysia Securities Berhad (“Bursa Securities”) has announced that Amtek Holdings Berhad (“AMTEK”) has triggered the criteria pursuant to Practice Note No. 17 (“PN17”) of the Main Market Listing Requirements of Bursa Securities (“Listing Requirements”).
Date: 16 January 2018; Type: Legal News; Source: Bursa Malaysia

Government-Banks Roundtable Meeting to give Clearer Picture on Insolvency Act 1967 - Azalina

KUALA LUMPUR, Jan 16 (Bernama) - The roundtable meeting aimed at giving a clearer picture to the banking institutions in the country on the government's amendments contained in the Insolvency Act 1967 which came into force last October, was held here today.
Date: 16 January 2018; Type: Legal News; Source: Bernama

Bursa Malaysia Securities publicly reprimands Ajiya Berhad for Breach of the Main Market Listing Requirements

KUALA LUMPUR, Jan 15 - Bursa Malaysia Securities Berhad (635998-W) (Bursa Malaysia Securities) has publicly reprimanded Ajiya Berhad (AJIYA) in respect of the company’s fourth quarterly report for the financial year ended 30 November 2016 (4th QR 2016) announced on 19 January 2017 which was in contravention of paragraph 9.16(1)(a) of the Burs ...
Date: 15 January 2018; Type: Legal News; Source: Bursa Malaysia

SC issues Cease and Desist Order to CopyCash Foundation

KUALA LUMPUR, Jan 9 (Bernama) - The Securities Commission Malaysia (SC) has directed CopyCash Foundation to immediately cease and desist all its proposed activities, including a purported plan to launch an Initial Coin Offering (ICO) in the country on Jan 10, 2018. In a statement, SC said the directive covers all activities as described in or ...
Date: 09 January 2018; Type: Legal News; Source: Bernama

SC to question Singapore-Registered Foundation on ICOs

KUALA LUMPUR, Jan 5 (Bernama) - The Securities Commission Malaysia (SC) will question a Singapore-registered foundation on its activities in Malaysia and purported launch of Initial Coin Offerings (ICOs), called CopyCashCoin (CCC).
Date: 05 January 2018; Type: Legal News; Source: Bernama

Appeals Court chides Lawyer in Genneva Case for filing Review

PUTRAJAYA, Jan 4 (Bernama) - A Court of Appeal judge has reprimanded a lawyer representing one of four former directors of gold bar investment company Genneva Sdn Bhd (GSB) for filing a review against the ongoing proceedings of the case.
Date: 04 January 2018; Type: Legal News; Source: Bernama

Industry Updates

DCA is now known as CAAM

PUTRAJAYA, Feb 19 (Bernama) - The Department of Civil Aviation (DCA) has been transformed into the Civil Aviation Authority of Malaysia (CAAM) effective today in line with the government's commitment to spur the nation's aviation industry to greater heights.

More Updates Read More

Industry Updates

Thailand, Cambodia discuss Nationality Verification for Migrant Workers

PHNOM PENH, Feb 14 (NNT) - Thailand's Labor Minister Adul Sangsingkeo and his Cambodian counterpart Ith Samheng discussed the nationality verification for undocumented migrant workers.

More Updates Read More

Industry Updates

Singapore RCEP Meeting crucial, says Mustapa

KUALA LUMPUR, Feb 13 (Bernama) - The next Regional Comprehensive Economic Partnership (RCEP) meeting, which will be held at the ministerial level on March 2, 2018, will be a crucial one to discuss the progress of the trade deal.

More Updates Read More

Industry Updates

Universiti Malaya ranks 46th in Asia

Universiti Malaya (UM) has improved in its ranking from the 59th position last year to 46th this year according to Times Higher Education (THE) Asia University Rankings.

More Updates Read More

Industry Updates

Court Administrative Assistant charged with assaulting Workmate

TELUK INTAN, Feb 12 (Bernama) - A court clerical and operations administrative assistant was charged in the Magistrate's Court here today with assaulting and using criminal force on a workmate, two years ago.

More Updates Read More

Industry Updates

Bursa Malaysia announces Half-day and Full-day Trading Closure for CNY

KUALA LUMPUR, Feb 12 (Bernama) - Bursa Malaysia Bhd announces that it will implement a half-day trading closure on the the eve of the Chinese New Year (CNY) on Thursday and all-day closure on Friday.

More Updates Read More

Industry Updates

UN Offices relocate to Putrajaya

PUTRAJAYA, Feb 7 (Bernama) - The United Nations (UN) offices in Malaysia have been relocated to the country's administrative capital, Putrajaya.

More Updates Read More

Industry Updates

Malaysia needs to develop Industry 4.0 Roadmap

KUALA LUMPUR, Feb 11 (Bernama) - Malaysia needs to develop its own national roadmap and framework for the fourth industrial revolution (Industry 4.0) to spur collaboration with developed countries in innovation industries.

More Updates Read More

Industry Updates

MITI eyes 10,000 e-commerce Companies joining DFTZ

KUALA LUMPUR, Feb 8 (Bernama) - The International Trade and Industry Ministry (MITI) is targeting to increase the number of companies coming onboard the Digital Free-Trade Zone (DFTZ) e-commerce platform to about 10,000 by year-end from 1,998 last November.

More Updates Read More

Industry Updates

KLRCA is now AIAC Malaysia

KUALA LUMPUR, 7 February 2018: The Kuala Lumpur Regional Centre for Arbitration (KLRCA) was officially renamed the Asian International Arbitration Centre (Malaysia) in conjunction with its 40th anniversary. The name change is part of a larger rebranding for the Centre, which aims to further strengthen its regional footprint and global presence. Earlier on 10 Jan 2018, the Arbitration (Amendment) Act 2018 was passed and gazetted to give legal effect to the change of name.

More Updates Read More

Industry Updates

SUHAKAM on “Federal Court’s decision on Unilateral Conversion”

KUALA LUMPUR, Feb 6 - The Human Rights Commission of Malaysia (SUHAKAM) has endorsed the unanimous decision of the Federal Court in the case of Indira Gandhi on 29 January 2018 which invalidated the unilateral and/or forced religious conversion of minors, in line with the Cabinet decision in 2009. SUHAKAM said it hopes the Court’s decision will now guide with clarity administrative and policy directions to establish coherent and consistent standards for reconciling the principle of the best interests of the child with the Constitutional rights of parents in the exercise of their freedom of religion.

More Updates Read More

Industry Updates

Malaysia and Singapore to set up Stock Market Trading Link

The Securities Commission Malaysia (SC) and the Monetary Authority of Singapore (MAS) will work together to facilitate the establishment of a stock market trading link between Bursa Malaysia (BM) and Singapore Exchange (SGX) by the end of this year. The trading link will allow investors to trade and settle shares listed on each other’s stock market in a more convenient and cost efficient manner. Retail investors notably will benefit from such a link.

More Updates Read More