While most companies (95%) have some form of general business insurance such as accident and property cover, roughly half of the companies surveyed in Asia do not carry any business liability insurance. A new report released recently by QBE Insurance reveals that ownership of business liability insurance is 54% in Indonesia and Singapore, 47% in Hong Kong and 45% in Malaysia.
This dramatic drop-off in coverage is despite the fact that 63 per cent of all the companies surveyed experienced liability-related incidents within the last year.
British American Tobacco (Malaysia) Berhad (The Group) announced that its revenue for the first half of 2017 declined 22.1% when compared to the same period of last year as a result of further contraction of the legal market.
This was driven by a decline of 16.9% of the domestic volumes and the cessation of export volumes as planned under its business transformation. Illegal cigarettes incidence for the same period has increased by about 16% from 50.0% in the first half of 2016 to 57.9% in May 2017. This was driven by the price gap between legal and illegal cigarettes and current macroeconomic factors that are impacting consumer spending power.
The sixth annual Chinese International Travel Monitor report by Hotels.com™ reveals that Chinese travelers have entered a new phase in their evolution. More educated and increasingly sophisticated in their tastes and expectations, they want more of everything – more time traveling, more locations and more exotic experiences.
Chinese travelers are spending a whopping 28 per cent of their income on average on international travel, with 90s millennials being the biggest spenders, allocating 35 per cent of their income to travel.
Epson has launched its new portable scanners, the WorkForce DS-310 and DS-360W, for convenient scanning on-the-go. One of the fastest portable business scanners on the market, the WorkForce DS-310 and DS-360W scanners are the first portable scanners with an Automatic Document Feeder in SE Asia, enabling speedy scanning and archiving of documents for the mobile workforce.
The WorkForce DS-310 and DS-360W scanners scan at fast speeds of 25ppm or 50ipm, at up to 300dpi resolution for efficient and fast document archival. The compact and lightweight scanners weigh at 1.1kg and 1.3kg respectively, and can be carried around easily in bags and briefcases.
Ekovest Berhad today launched their KL River City project which aims to rejuvenate and transform Northern Kuala Lumpur into a world class destination. The KL River City will also see the rehabilitation and transformation a 2.2km stretch of Gombak River to provide riverfront lifestyle and serene landscape for the public to enjoy. The launching of the KL River City was duly graced by Minister of The Federal Territories, Y.B. Datuk Seri Utama Tengku Adnan bin Tengku Mansor.
KL River City is positioned within Precinct 1 & 2 of the River of Life (“ROL”) and it’s just a short drive from Major City Hubs such as KL Sentral, KLCC, The Golden Triangle, as well as the upcoming Tun Razak Exchange and Bandar Malaysia. The master plan framework will redefine Gombak River’s identity and rebuild its redevelopment strategy by transforming it into a vibrant and liveable riverfront – a world class tourist destination in northern Kuala Lumpur. Upon completion, KL River City shall possess seamless integration with roads and urban public transportation system (DUKE Highway, MRT, LRT, and Water Taxi), as well as serene landscape with self-sustaining developments, thereby cementing its position as a World Class River City.
Following Bank Negara’s recent liberalisation of the motor insurance industry, Digi Telecommunications Sdn Bhd (Digi) follows up on its strong push into the connected vehicles IoT business with a ready-to-market Usage-Based Insurance (UBI) platform. This platform is available to all players in the motor insurance industry seeking a first mover advantage to develop and offer customised products to market quickly to leverage opportunies with the de-tariffication of insurance premiums.
Between 2014 and 2016, Allianz General Insurance Company (Malaysia) Berhad has stopped fraudsters with bogus insurance claims from pocketing RM 5.6 million.
Insurance fraud is a growing concern in Malaysia and Allianz General has been paying closer attention to fraudulent claims in recent years. Last year, the Company formed a Special Unit of trained investigators with over 30 years of experience in law enforcement and the legal system to detect, track and investigate insurance fraud cases.
ML Global Berhad (MGB), a subsidiary of LBS Bina Group Berhad, has partnered with Sany Construction Industry Development (M) Sdn Bhd (SANY (M)), a subsidiary of Sany Group Co. Ltd (“SANY Group”), to form a joint-venture (JV) entity; making way for the set-up of a precast concrete panel manufacturing plant in the central region of Malaysia within the next six months. The JV is set to enhance MGB’s offerings to the local construction industry as it introduces the Industrialised Building System (IBS) Solution.
“This partnership is a very significant step forward. We are confident the JV company will grow in precast concrete technology with the transfer of technical know-how from SANY (M) including the design, manufacturing and installation of precast concrete, as well as the usage of precast concrete machineries. This JV further strengthens our position to deliver excellence through innovation and quality assurance in our field of expertise,” said ML Global Berhad Group Managing Director, Tan Sri Lim Hock San.
CIMB Investment Bank Berhad has, yet again, proven its leadership in the investment banking space by maintaining its long standing top positions for Malaysian bond, equities and Ringgit Sukuk arranger, as well as for ASEAN local currency bonds for the first half of 2017 (“1H2017”). CIMB was also in the top two positions for Global Sukuk league table for the same period.
For 12 consecutive years, CIMB has topped Bloomberg’s Underwriter League Table for Malaysian Ringgit Bonds, having garnered 32.28% of the Malaysian Ringgit Bond market share with 60 issuances totalling RM16.16 billion in 1H2017. CIMB also led Bloomberg’s Malaysian Ringgit Sukuk, with a market share of 30.56% amounting to RM11.13 billion, and maintained its dominance in the ASEAN local currency bonds - for the sixth consecutive year - with a 14.26% market share on the back of 152 issuances worth USD5.45 billion for the same period.
Everyone can buy Natural & Organic groceries at wholesale price. That is the vision of the Malaysian based startup, Signature Market (signaturemarket.co).
Recently, Signature Market has achieved its amazing results of seed funding raising worth USD $350,000 via PitchIN (pitchin.my) crowd funding platform within a short period of two weeks. Signature Market has acquired 161 investors, the largest num-ber of investors throughout the Malaysian equity crowd funding history.