Retail chain group seeks meeting with Inland Revenue Board on e-invoicing

Retail chain group seeks meeting with Inland Revenue Board on e-invoicing

PETALING JAYA: The Malaysia Retail Chain Association (MRCA) said there is a need for ongoing dialogue, education and collaboration between retailers and the Inland Revenue Board (IRB) to address the complexities associated with the transition to the electronic invoicing system (e-invoicing). MRCA deputy president Datuk Ken Phua said it welcomes the government’s proposals on e-invoicing … Read more

Unexpected gain for local brands amid boycott of selected products: Web Bytes CEO

Unexpected gain for local brands amid boycott of selected products: Web Bytes CEO

PETALING JAYA: Local brands are gaining an unexpected advantage due to the boycott of certain products resulting from the Israel-Hamas conflict, according to Web Bytes CEO Ooi Bon Sheng. He said that based on available data sets, the boycott does have an impact on specific brands. “But in terms of spending, it’s not impacted in … Read more

Malaysia can achieve ESG goals within seven years or less

Malaysia can achieve ESG goals within seven years or less

KUALA LUMPUR: With its phased approach, Malaysia is confident it can achieve its environmental, socia and governance (ESG) goals within seven years or less, said Investment, Trade, and Industry Miistry (Miti) deputy secretary-seneral (industry) Datuk Hanafi Sakri. “The i-ESG Phase 1.0 lays the groundwork and fosters the development of a robust ecosystem to help ensure … Read more

Governor sees positive impact on Malaysia’s first digital bank – GX Bank Bhd

Governor sees positive impact on Malaysia’s first digital bank – GX Bank Bhd

KUALA LUMPUR: Central bank governor Datuk Abdul Rasheed Ghaffour foresees a positive impact on Malaysia’s banking landscape with the launch of the country’s first digital bank, Grab-led digital bank GX Bank Bhd. The governor said the new digital banks will drive efficiency and competitiveness across the banking sector. “In September, GX Bank was the first … Read more

Embrace and master new technology, accountants told

Embrace and master new technology, accountants told

PETALING JAYA: The accounting profession must embrace new technology in their systems with the impending implementation of e-invoicing next year, as well as enhancements in environmental, social and governance (ESG) reporting. Intuit QuickBooks Proadviser for Asia and chartered accountant Cheah Chun How said failure to adapt may render accounting professionals obsolete. “A lot of accountants, … Read more

SIBS, SAS 2023 post total sales value of almost RM7b

SIBS, SAS 2023 post total sales value of almost RM7b

SHAH ALAM: The Selangor International Business Summit 2023 (SIBS 2023) and the Selangor Aviation Show 2023 (SAS 2023) organised by Invest Selangor, recorded a combined potential transaction value close to RM7 billion. Selangor State Investment, Trade, and Mobility Exco Ng Sze Han stated that SIBS and SAS are among the many promotional activities organised by … Read more

Malaysian economy grew 3.3% in Q3’23

Malaysian economy grew 3.3% in Q3’23

KUALA LUMPUR: The Malaysian economy grew by 3.3% in the third quarter of 2023 compared to 2.9% in Q2’23 on the back of resilient domestic demand. This contrasts with the 14.2% growth recorded in the third quarter of 2022. In the quarter under review, household spending remained supported by continued growth in employment and wages. … Read more

Expert predicts groundbreaking year for AI in 2024

Expert predicts groundbreaking year for AI in 2024

KUALA LUMPUR: Artificial intelligence (AI) will experience a groundbreaking year in 2024 when there will be mainstream adoption of the technology, said AI futurist and former head of go-to-market strategy at OpenAI, Zack Kass. He anticipates broad mainstream adoption of AI and a surge in the quality of tools and products embedded with AI technology … Read more

IWK plans tariff adjustment next year to ensure sustainable sewerage services

IWK plans tariff adjustment next year to ensure sustainable sewerage services

KUALA LUMPUR: Indah Water Konsortium Sdn Bhd (IWK), Malaysia’s national sewerage company, plans a tariff adjustment next year to ensure sustainable sewerage services and is part of broader efforts to enhance sewerage infrastructure, CEO Narendran Maniam told SunBiz. “Our tariff, although we have gone through a recent tariff adjustment, there will be another slight tariff … Read more

Ringgit undervalued, has potential to appreciate: Economist

Ringgit undervalued, has potential to appreciate: Economist

KUALA LUMPUR: The ringgit has potential for positive developments due to its undervaluation amid heightened external uncertainties, said Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid. He said the ringgit is undervalued, and suggested that government policy changes are likely to yield long-term results as key to the … Read more