Tag: Digital Economy

MBSB Bank and Prec Real Estate signed an MoU to support small businesses by introducing real-time retail payment platforms like DuitNow. The collaboration aims to reduce operational costs and simplify financial management for entrepreneurs in SACC Mall and PKNS Complex, encouraging digital payment adoption among SMEs.

Taiwanese economic officials are expressing concerns about recent US semiconductor restrictions potentially harming the island's critical technology export sector. The new Chips and Science Act could significantly disrupt Taiwan's advanced chip manufacturing ecosystem, introducing uncertainty into global supply chains.

Bank Negara Malaysia has released an exposure draft outlining licensing and regulatory guidelines for Digital Insurers and Takaful Operators (DITOs). The proposed framework aims to facilitate market entry, promote competition, and provide value-driven insurance solutions while ensuring sustainable business practices and policyholder benefits.

Norwegian Telenor and Malaysian Axiata Group have secured regulatory clearance to merge their local telecommunications units Celcom Axiata and DiGi.Com. The proposed tie-up aims to create a stronger market leader in Malaysia's competitive telecom landscape, with an estimated enterprise value of $15 billion and potential to reshape the industry's competitive dynamics. - EXCERPT: Provides context, highlights main parties, deal value, and strategic intent within 100 words

Malaysia is working to address semiconductor order backlogs that emerged during the pandemic. Lockdown-related operational suspensions, combined with global manufacturing disruptions like factory incidents and the Suez Canal blockage, have significantly impacted integrated circuit component supplies worldwide.

Singapore and Vietnam are moving forward to strengthen their digital economy collaboration. Foreign Affairs Minister Vivian Balakrishnan met with Vietnamese counterpart Bui Thanh Son to discuss joint initiatives and facilitate bilateral economic engagement in the digital sector.

SEA Ltd and Petronas are among key players exploring digital banking licenses in Malaysia. Other potential applicants include Genting, YTL Corp, and Grab Holdings, signaling a competitive race to enter the country's emerging digital financial services market.

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.