Business

Austria's AT&S has chosen Malaysia as its strategic tech manufacturing hub, announcing an 8.5 billion ringgit investment in Kulim High-Tech Park. The project will create 5,000 high-tech jobs and focus on producing advanced printed circuit boards and integrated circuit substrates.

As pandemic lockdowns continue to impact employment, Malaysia's workforce experiences significant pressures. The unemployment rate, which improved to 4.6% in April, remains volatile. Manufacturing sectors and businesses adapt by operating at reduced capacities while following strict standard operating procedures.

The Malaysian government has extended the tax exemption for corporate investors of retail money market funds until January 1, 2022, as part of its fiscal measures to mitigate the economic impact of the COVID-19 pandemic. This move aims to provide continued support to businesses during these challenging times.

Malaysia's Ministry of Finance plans to implement fully cashless payments for government services by 2022. This digital transformation aims to improve transaction safety, reduce corruption, and enhance administrative efficiency through electronic payment systems and biometric identification.

Although the government has imposed varying degrees of restrictions in the past year. The Covid-19 epidemic in Malaysia has deteriorated significantly. Last week, the...

The global semiconductor chip shortage is severely affecting automakers, leading to reduced production and higher prices. Caused by increased demand for electronics during the COVID-19 pandemic and supply chain disruptions, this shortage is expected to continue through 2022, forcing manufacturers to develop strategic solutions.

Malaysian oil and gas service provider Serba Dinamik is under scrutiny after KPMG raised concerns about unverified contracts worth 3.5 billion ringgits. Two top shareholders are expressing worry, while the company plans to appoint an independent review firm to investigate the issues.

The FAO Food Price Index reached 127.1 points in May, marking the 12th consecutive month of increases. Prices have risen 4.8% compared to April 2021 and nearly 40% since May 2020, reflecting significant global food market volatility and potential economic challenges for consumers worldwide.

Malaysia's exports surged by 63% year-on-year in April 2021, driven by strong domestic exports. The Department of Statistics reported a trade surplus of RM 20.5 billion, highlighting the nation's economic recovery from the COVID-19 pandemic.

Taiwanese tech giant Foxconn is exploring a minority investment in DNeX's SilTerra after losing earlier acquisition bid, sources reveal potential strategic partnership in semiconductor sector