PDRM - ANNOUNCEMENT
Please be assured that the 50% discounts are still applicable after 15th Dec 2010.
Effective 1st December 2010, PDRM is offering an incentive on compound rates for all types of
traffic summons issued –
All summons issued on or before 30th November 2010 :
A rate reduction from the original compound
All summons issued after 30th November 2010 :
Summons settled within 15 days will be offered a 50% incentive from the original compound
Summons settled within 16 to 30 days will be offered a 30% incentive from the original compound
Unsettled summons within the 30 days ARE NOT entitle for an incentive and will be immediately black listed - from myeg web
Monday, December 13, 2010
Thursday, December 9, 2010
Japanese investments to pour in soon
A NUMBER of fresh Japanese investments are expected to pour into Malaysia soon, covering several sectors.
Although no specific value was mentioned and to which sectors the potential investments would be made, Japanese Ambassador to Malaysia Masahiko Horie said the investments will help gear up Japan's position as the number one foreign investor in this country.
"The investments are coming soon (early 2011). I am, at the moment, busy preparing for them," Horie told Business Times in Kuala Lumpur yesterday.
Trade between Japan and Malaysia in 2009 was worth RM100 billion and Horie expects it to increase this year, backed by the improving economic environment.
Earlier, Horie was briefing reporters on the increasing interest of Japanese retirees in Malaysia for their second home under The Malaysia My Second Home.
He said Malaysia is at the top of the list among the 10 countries with 16.6 per cent, beating Hawaii, Australia, Thailand, New Zealand, Canada, the Philippines, Indonesia, Spain and the US.
"Malaysia has been at the top since 2006 and we expect it will continue to be that way at the moment," he said.
Horie said there are currently 1,500 Japanese retirees who opt for the second home programme in Malaysia and expects the figures to rise by 10 per cent this year.
"Out of the 400,000 Japanese nationals that visited Malaysia in 2009, a total of 160,000, or 40 per cent, came as tourists," he said.
He cited eight factors that contribute to the rising interest among Japanese in Malaysia which include climate, political and social stability, warm weather, distance and multi-racial society.
Horie said with AirAsia X flying to and from Japan and Malaysia beginning December 9 and Malaysia Airlines opening up flight routes directly to Haneda Airport which is much nearer to Tokyo than Narita Airport, human traffic between the two countries will rise. - www.btimes.com
Although no specific value was mentioned and to which sectors the potential investments would be made, Japanese Ambassador to Malaysia Masahiko Horie said the investments will help gear up Japan's position as the number one foreign investor in this country.
"The investments are coming soon (early 2011). I am, at the moment, busy preparing for them," Horie told Business Times in Kuala Lumpur yesterday.
Trade between Japan and Malaysia in 2009 was worth RM100 billion and Horie expects it to increase this year, backed by the improving economic environment.
Earlier, Horie was briefing reporters on the increasing interest of Japanese retirees in Malaysia for their second home under The Malaysia My Second Home.
He said Malaysia is at the top of the list among the 10 countries with 16.6 per cent, beating Hawaii, Australia, Thailand, New Zealand, Canada, the Philippines, Indonesia, Spain and the US.
"Malaysia has been at the top since 2006 and we expect it will continue to be that way at the moment," he said.
Horie said there are currently 1,500 Japanese retirees who opt for the second home programme in Malaysia and expects the figures to rise by 10 per cent this year.
"Out of the 400,000 Japanese nationals that visited Malaysia in 2009, a total of 160,000, or 40 per cent, came as tourists," he said.
He cited eight factors that contribute to the rising interest among Japanese in Malaysia which include climate, political and social stability, warm weather, distance and multi-racial society.
Horie said with AirAsia X flying to and from Japan and Malaysia beginning December 9 and Malaysia Airlines opening up flight routes directly to Haneda Airport which is much nearer to Tokyo than Narita Airport, human traffic between the two countries will rise. - www.btimes.com
Rail project: MMC, Gamuda, Govt to team up
Gamuda Bhd and MMC Corp, two Malaysian construction companies, may team up with the government to help build a passenger rail network in Kuala Lumpur, a Gamuda executive said.
Work on the project may start in July, Gamuda group managing director Lin Yun Ling told reporters in Shah Alam, near the capital. He didn’t elaborate.
The rail project is among the US$444 billion of private sector-led projects identified by the Malaysian government to spur investments and accelerate growth in Southeast Asia’s third-largest economy. Besides the rail network, the plan includes developing a nuclear energy industry and a shopping district to rival Singapore’s Orchard Road.
Shares of Gamuda, a construction and property group based in Petaling Jaya, outside the Malaysian capital, climbed 1.6 per cent to RM3.83 at 11:45 a.m. in Kuala Lumpur trading. MMC, a power and construction company based in Kuala Lumpur, slid as much as 1.1 per cent to RM2.79.
Gamuda and MMC, which proposed the mass-transit system, will likely be the master planners of the project if they offer the best pricing, Second Finance Minister Ahmad Husni Hanadzlah said Nov. 11.
Qatar, Vietnam
Prime Minister Najib Razak said in October the country will start on a mass rail project in the capital in early 2011, expected to attract RM40 billion (US$12.8 billion) in private-sector investment.
Azharuddin Nordin, general manager of the group managing director’s Office at MMC, wasn’t available to comment as he was in a meeting.
Gamuda also plans to bid for a mass rail network and other infrastructure project in Qatar, the host of soccer’s World Cup in 2022, Lin said. The company expects revenue of RM1 billion from its property business in the year ending July 31, 2011, he said.
Property sales may reach RM5 billion over the next two years, with projects in Vietnam contributing as much as RM3 billion, Lin said. -- Bloomberg
Work on the project may start in July, Gamuda group managing director Lin Yun Ling told reporters in Shah Alam, near the capital. He didn’t elaborate.
The rail project is among the US$444 billion of private sector-led projects identified by the Malaysian government to spur investments and accelerate growth in Southeast Asia’s third-largest economy. Besides the rail network, the plan includes developing a nuclear energy industry and a shopping district to rival Singapore’s Orchard Road.
Shares of Gamuda, a construction and property group based in Petaling Jaya, outside the Malaysian capital, climbed 1.6 per cent to RM3.83 at 11:45 a.m. in Kuala Lumpur trading. MMC, a power and construction company based in Kuala Lumpur, slid as much as 1.1 per cent to RM2.79.
Gamuda and MMC, which proposed the mass-transit system, will likely be the master planners of the project if they offer the best pricing, Second Finance Minister Ahmad Husni Hanadzlah said Nov. 11.
Qatar, Vietnam
Prime Minister Najib Razak said in October the country will start on a mass rail project in the capital in early 2011, expected to attract RM40 billion (US$12.8 billion) in private-sector investment.
Azharuddin Nordin, general manager of the group managing director’s Office at MMC, wasn’t available to comment as he was in a meeting.
Gamuda also plans to bid for a mass rail network and other infrastructure project in Qatar, the host of soccer’s World Cup in 2022, Lin said. The company expects revenue of RM1 billion from its property business in the year ending July 31, 2011, he said.
Property sales may reach RM5 billion over the next two years, with projects in Vietnam contributing as much as RM3 billion, Lin said. -- Bloomberg
Monday, October 25, 2010
Australia, Singapore stock exchanges plan merger: report
SYDNEY (AFP) - – Singapore's stock exchange is preparing to launch a takeover of its Australian counterpart to form a 14 billion dollar (13.8 billion US) alliance, a report said Saturday.The Singapore Exchange is expected to announce a 6 billion dollar takeover bid for the sharemarket operator Australian Securities Exchange (ASX) on Monday, The Australian newspaper said without citing sources.
The ASX could not be contacted Saturday but ahead of the weekend it requested a two-day trading halt on its shares, saying "a party has recently re-activated discussions with ASX concerning a possible business combination".
"ASX does not have any information to disclose at this time but has observed an increase in the ASX share price today," it said in a statement on Friday.
A tie-up between the Australian and Singapore stock exchanges, which have market capitalisations of some 6.1 billion US dollars and 7.9 billion US dollars respectively, would require government approval.
But a merger between the Australian and Singapore exchanges would be in line with the global trend towards consolidation between exchanges, former Merrill Lynch Australia chief executive Greg Bundy told The Australian.
"Singapore and Australia are the most progressive of the exchanges in this time zone, they are the market leaders, and it could be they are getting together to pre-empt the involvement of Japan and Hong Kong, both of which have had their issues," he said.
Thursday, October 7, 2010
Etiqa on Track to be the Leading Insurance & Takaful Organization in Malaysia
Etiqa Insurance & Takaful is on track to be the leading insurance and takaful organization in
Malaysia by the end of this year. For its 2009/2010 financial year, Etiqa surpassed the
RM4.5 billion mark in top line premiums with a profit before tax of RM422 million.
“Etiqa has done very well this financial year. The last financial year was a difficult year for all
of us. However, we bounced back this year and have shown that there is still untapped
potential in the insurance and takaful market,” said Dato’ Aminuddin Md Desa, Chief
Executive Officer of Etiqa.
As a multichannel organization that covers both life/family and general, insurance and
takaful, Etiqa has something for everyone and easily accessible. “I am confident that we are
well on our way to becoming the leading insurance and takaful organization by the end of
this year. Etiqa has a multitude of channels and based on the achievements so far, each
channel is progressing at a pace that will position us as the leading organization in this
market,” added Aminuddin.
In terms of profitability, Etiqa recorded a growth of 29% in profit before tax, over the same
period last year. The topline premiums were generated through life/family takaful new
business which totaled 45.9%, surpassing the market growth by over 25%. The
general/general takaful business registered a growth of 16.1% compared to the industry
growth of 7.5%. Based on the achievement to date, Etiqa is well on track to meet its
aspirations for the 2nd half of this calendar year.
As for its position in the market, Etiqa maintained its number one position in the Life/Family
New Business category, the General insurance/takaful area as well as its pivotal position in
the takaful business where Etiqa Takaful holds a 44% market share. This also saw Etiqa
Takaful as the first takaful company to surpass RM100 million in profit before tax. Etiqa
Takaful was also recently named the “Most Outstanding Takaful Company” in the recent
Kuala Lumpur Islamic Finance Forum (KLIFF) Awards.
According to Aminuddin, there are several key reasons for this strong position. Being a
member of the Maybank Group is a key advantage for Etiqa. Etiqa on its own, is already a
financially stable organization, coupled with being a member of Maybank, it makes Etiqa
even more financially sound. Etiqa also has the advantage of being an organization with a
multitude of distribution channels. There are more than 26000 agents located throughout
Malaysia, a wide array of partners and strategic alliances, Etiqa branches in all major cities in
the country as well as access to Maybank’s 400 over branches nationwide.
The Etiqa brand and the people of Etiqa are also key to Etiqa’s success. “Etiqa is about
humanizing insurance and takaful. Etiqa is about placing people over policies. In everything
that we do, we try to make things as simple as possible for our customers as well as our
staff. There is too much bureaucracy and we are trying to cut through the red tape, to make
things easier and simpler to understand and execute,” said Aminuddin. In fact, in a recent
survey, the awareness of Etiqa was at 77%, which is a very decent feat for a brand which is
only in its 3rd year.
Aminuddin also stressed that Etiqa staff are instrumental to the success of Etiqa. “Our staff
are all guided by the Etiqa Way and through the Etiqa Way, they are constantly trying to
improve and simplify things for the customers. “I always believe that a happy worker is a
productive worker. And here at Etiqa, we have developed a culture that makes Etiqa a fun
and enjoyable place to work. And when people are happy, they are productive. Etiqa is
about loving your work and once that happens, the best always comes across,” he said.
“We always encourage our people to think Etiqa, to live Etiqa and to serve the Etiqa Way
and we are well on our way to developing a unique culture for Etiqa. A culture which is outof-
the-box for an insurance & takaful organization but very workable and palatable to both
our customers and our staff,” he added.
Aminuddin also added that in line with this new brand platform, a host of initiatives have
been developed, some of which have been implemented and some of which are in the
process of being implemented, to make things simpler and easier for Etiqa customers,
partners as well as staff. “When we first launched Etiqa, we made a difference through our
fast track claims for claims below RM2000, 30-day claims for stolen cars and bereavement
cash advance. However, the feather in our cap is our call centre, the Etiqa OneLine which
does not adopt the IVR. As a result, in line with the humanizing insurance and takaful brand
platform, you will never be attended to by a machine. There will always be someone to
attend to you, a real person and not just a voice,” said Aminuddin.
Malaysia by the end of this year. For its 2009/2010 financial year, Etiqa surpassed the
RM4.5 billion mark in top line premiums with a profit before tax of RM422 million.
“Etiqa has done very well this financial year. The last financial year was a difficult year for all
of us. However, we bounced back this year and have shown that there is still untapped
potential in the insurance and takaful market,” said Dato’ Aminuddin Md Desa, Chief
Executive Officer of Etiqa.
As a multichannel organization that covers both life/family and general, insurance and
takaful, Etiqa has something for everyone and easily accessible. “I am confident that we are
well on our way to becoming the leading insurance and takaful organization by the end of
this year. Etiqa has a multitude of channels and based on the achievements so far, each
channel is progressing at a pace that will position us as the leading organization in this
market,” added Aminuddin.
In terms of profitability, Etiqa recorded a growth of 29% in profit before tax, over the same
period last year. The topline premiums were generated through life/family takaful new
business which totaled 45.9%, surpassing the market growth by over 25%. The
general/general takaful business registered a growth of 16.1% compared to the industry
growth of 7.5%. Based on the achievement to date, Etiqa is well on track to meet its
aspirations for the 2nd half of this calendar year.
As for its position in the market, Etiqa maintained its number one position in the Life/Family
New Business category, the General insurance/takaful area as well as its pivotal position in
the takaful business where Etiqa Takaful holds a 44% market share. This also saw Etiqa
Takaful as the first takaful company to surpass RM100 million in profit before tax. Etiqa
Takaful was also recently named the “Most Outstanding Takaful Company” in the recent
Kuala Lumpur Islamic Finance Forum (KLIFF) Awards.
According to Aminuddin, there are several key reasons for this strong position. Being a
member of the Maybank Group is a key advantage for Etiqa. Etiqa on its own, is already a
financially stable organization, coupled with being a member of Maybank, it makes Etiqa
even more financially sound. Etiqa also has the advantage of being an organization with a
multitude of distribution channels. There are more than 26000 agents located throughout
Malaysia, a wide array of partners and strategic alliances, Etiqa branches in all major cities in
the country as well as access to Maybank’s 400 over branches nationwide.
The Etiqa brand and the people of Etiqa are also key to Etiqa’s success. “Etiqa is about
humanizing insurance and takaful. Etiqa is about placing people over policies. In everything
that we do, we try to make things as simple as possible for our customers as well as our
staff. There is too much bureaucracy and we are trying to cut through the red tape, to make
things easier and simpler to understand and execute,” said Aminuddin. In fact, in a recent
survey, the awareness of Etiqa was at 77%, which is a very decent feat for a brand which is
only in its 3rd year.
Aminuddin also stressed that Etiqa staff are instrumental to the success of Etiqa. “Our staff
are all guided by the Etiqa Way and through the Etiqa Way, they are constantly trying to
improve and simplify things for the customers. “I always believe that a happy worker is a
productive worker. And here at Etiqa, we have developed a culture that makes Etiqa a fun
and enjoyable place to work. And when people are happy, they are productive. Etiqa is
about loving your work and once that happens, the best always comes across,” he said.
“We always encourage our people to think Etiqa, to live Etiqa and to serve the Etiqa Way
and we are well on our way to developing a unique culture for Etiqa. A culture which is outof-
the-box for an insurance & takaful organization but very workable and palatable to both
our customers and our staff,” he added.
Aminuddin also added that in line with this new brand platform, a host of initiatives have
been developed, some of which have been implemented and some of which are in the
process of being implemented, to make things simpler and easier for Etiqa customers,
partners as well as staff. “When we first launched Etiqa, we made a difference through our
fast track claims for claims below RM2000, 30-day claims for stolen cars and bereavement
cash advance. However, the feather in our cap is our call centre, the Etiqa OneLine which
does not adopt the IVR. As a result, in line with the humanizing insurance and takaful brand
platform, you will never be attended to by a machine. There will always be someone to
attend to you, a real person and not just a voice,” said Aminuddin.
Thursday, August 5, 2010
US economy 'adds 42,000 jobs in July'
AFP - Thursday, August 5
Jobseekers pictured at a career fair in Chicago in June. The US economy created more private jobs than expected in July but hiring has not been rapid enough to ease a severe jobless rate, payrolls firm ADP said Wednesday.
WASHINGTON (AFP) - – The US economy created more private jobs than expected in July but hiring has not been rapid enough to ease a severe jobless rate, payrolls firm ADP said Wednesday.
Some 42,000 private-sector jobs were created following a revised June number of 19,000, ADP said ahead of a key government report Friday that is expected to show unemployment already at 9.5 percent ticking up.
Most economists had expected 25,000 private jobs to be established in July, the sixth consecutive monthly increase in hirings.
But ADP warned that the private job increases so far this year had averaged a modest 37,000, "with no evidence of acceleration" as economic growth from a brutal recession threatens to stall.
The government will release the July employment report on Friday with most economists expecting non-farm payrolls to fall by 87,000 in July and the unemployment rate to edge up to 9.6 percent.
The ADP survey tracks only private-sector jobs, while the Labor Department's nonfarm payroll data, include government workers.
The private sector is forecast to have created about 82,500 jobs in July but government employment is believed to have fallen 169,500 as more temporary jobs disappeared -- the reason why economists expect the Friday report to be weak.
Temporary hiring for a government population census had peaked in May and "for this reason, Friday's figure... might be weaker than today's estimate for nonfarm private employment" in the ADP report, the payrolls firm said.
The ADP report gave a mixed picture of the jobs situation but the numbers were hardly encouraging.
It estimated private employment in the service-providing sector rose by 63,000 in July while that in the goods-producing sector declined 21,000.
Hiring in the manufacturing sector also decreased 6,000, the first slide in six months, the report said.
Large businesses, defined as those with 500 or more workers, saw employment remain flat while hirings among medium-size businesses, defined as those with between 50 and 499 workers, increased by 21,000.
Small-size businesses, defined as those with fewer than 50 workers, increased by 21,000.
Employment in the financial services sector, which has declined for more than three years, dropped 1,000, the smallest decline since June 2007.
Jobseekers pictured at a career fair in Chicago in June. The US economy created more private jobs than expected in July but hiring has not been rapid enough to ease a severe jobless rate, payrolls firm ADP said Wednesday.
WASHINGTON (AFP) - – The US economy created more private jobs than expected in July but hiring has not been rapid enough to ease a severe jobless rate, payrolls firm ADP said Wednesday.
Some 42,000 private-sector jobs were created following a revised June number of 19,000, ADP said ahead of a key government report Friday that is expected to show unemployment already at 9.5 percent ticking up.
Most economists had expected 25,000 private jobs to be established in July, the sixth consecutive monthly increase in hirings.
But ADP warned that the private job increases so far this year had averaged a modest 37,000, "with no evidence of acceleration" as economic growth from a brutal recession threatens to stall.
The government will release the July employment report on Friday with most economists expecting non-farm payrolls to fall by 87,000 in July and the unemployment rate to edge up to 9.6 percent.
The ADP survey tracks only private-sector jobs, while the Labor Department's nonfarm payroll data, include government workers.
The private sector is forecast to have created about 82,500 jobs in July but government employment is believed to have fallen 169,500 as more temporary jobs disappeared -- the reason why economists expect the Friday report to be weak.
Temporary hiring for a government population census had peaked in May and "for this reason, Friday's figure... might be weaker than today's estimate for nonfarm private employment" in the ADP report, the payrolls firm said.
The ADP report gave a mixed picture of the jobs situation but the numbers were hardly encouraging.
It estimated private employment in the service-providing sector rose by 63,000 in July while that in the goods-producing sector declined 21,000.
Hiring in the manufacturing sector also decreased 6,000, the first slide in six months, the report said.
Large businesses, defined as those with 500 or more workers, saw employment remain flat while hirings among medium-size businesses, defined as those with between 50 and 499 workers, increased by 21,000.
Small-size businesses, defined as those with fewer than 50 workers, increased by 21,000.
Employment in the financial services sector, which has declined for more than three years, dropped 1,000, the smallest decline since June 2007.
Sunday, July 11, 2010
Facebook deal means virtual 'credits' can be bought in shops
KUALA LUMPUR, July 8, 2010 (AFP) – Facebook signed a deal with a Malaysian company on Thursday allowing a virtual currency for online games and services to be sold at retail shops across Asia for the first time.
The social-networking giant teamed up with payment service provider MOL AccessPortal to allow customers to buy Facebook Credits, a virtual currency used to buy gifts and virtual goods in many games and applications on Facebook.
Many Facebook users prefer to buy physical cards that they can then use online as credit, and MOL's 500,000 outlets at 7-Eleven stores and cybercafes across the Asia-Pacific region will sell these cards.
Vaughan Smith, Facebook's business and corporate development director, said the company wants developers and website owners to provide content for the site.
"We want to make it very easy for people to make lots of money building on top of Facebook," he told reporters.
"What we want to do is create a virtual currency which makes it very simple and straightforward for our users to buy services when they are using games and services on Facebook."
The companies will also launch a Facebook Gift Card in Malaysia and Singapore on a trial basis before a global rollout.
Ganesh Kumar Bangah, head of MOL Global, which owns MOL AccessPortal, said that only two percent of people playing online games in Asia actually pay, 80 percent of which is through physical cards.
The Facebook deal is aimed at increasing this revenue.
Last December, MOL Global, which is controlled by Malaysian tycoon Vincent Tan, purchased online social networking pioneer Friendster for 38 million dollars.
The social-networking giant teamed up with payment service provider MOL AccessPortal to allow customers to buy Facebook Credits, a virtual currency used to buy gifts and virtual goods in many games and applications on Facebook.
Many Facebook users prefer to buy physical cards that they can then use online as credit, and MOL's 500,000 outlets at 7-Eleven stores and cybercafes across the Asia-Pacific region will sell these cards.
Vaughan Smith, Facebook's business and corporate development director, said the company wants developers and website owners to provide content for the site.
"We want to make it very easy for people to make lots of money building on top of Facebook," he told reporters.
"What we want to do is create a virtual currency which makes it very simple and straightforward for our users to buy services when they are using games and services on Facebook."
The companies will also launch a Facebook Gift Card in Malaysia and Singapore on a trial basis before a global rollout.
Ganesh Kumar Bangah, head of MOL Global, which owns MOL AccessPortal, said that only two percent of people playing online games in Asia actually pay, 80 percent of which is through physical cards.
The Facebook deal is aimed at increasing this revenue.
Last December, MOL Global, which is controlled by Malaysian tycoon Vincent Tan, purchased online social networking pioneer Friendster for 38 million dollars.
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