insights Archives - Page 4 of 7

Property market transactions increase to RM85.4 billion in the first half of 2023

4Oct

By Webmaster IKON MalaysiaNo Comments

Business

Property market transactions increase to RM85.4 billion in the first half of 2023

The value of transactions in Malaysia's real estate market increased by 1.1 percent to RM85.37 billion in the first half of 2023 (1H 2023) from RM84.40 billion in the previous half. However, the amount of transactions indicated a slight decline of 2.1 percent to 184,140 for 1H 2023 from 188,002 in the same period last year, according to Deputy Finance Minister I Datuk Seri Ahmad Maslan. "The residential property segment remained the market's primary driver, accounting for more than 60% of total transaction volume and just under 53 percent of total transaction value. “It was followed by the agriculture sub-sector with a 19.8 percent share in terms of volume, while in terms of value, the commercial property sub-sector was second with 19.6 percent,” he said in his speech at the ...

Data reveals that M’sian business conditions have deteriorated to their worst level since January

4Oct

By Webmaster IKON MalaysiaNo Comments

Business, Finance

Data reveals that M’sian business conditions have deteriorated to their worst level since January

Malaysian manufacturers reported sluggish demand at the end of the third quarter of 2023, as evidenced by a variety of indicators in the most recent purchasing managers index (PMI) data. S&P Global Market Intelligence said in a statement on Monday that output and new orders both moderated more than they did in August, while new export orders decreased at the third-fastest rate in the series' history. Moreover, it noted that purchasing activity slowed to the largest extent since September 2021, while employment levels declined for the sixth consecutive month. This drop in input demand had an impact on stockpiles of purchases as well. The level of outstanding business decreased at one of the fastest rates in the series' history since July 2012, which indicated some spare...

The World Bank lowers its prediction for Malaysia’s GDP growth to 3.9 percent in 2023

4Oct

By Webmaster IKON MalaysiaNo Comments

Business, Finance, News

The World Bank lowers its prediction for Malaysia’s GDP growth to 3.9 percent in 2023

Amid a significant slowdown in foreign demand, the World Bank lowered its projection for Malaysian GDP growth, which is measured by the country's economy, to 3.9 percent this year from its earlier forecast of 4.3 percent. However, in its East Asia and Pacific October 2023 Economic Update, which was released on Monday, the bank increased its projection for Malaysia's GDP growth to 4.3 percent in 2024 from its prior forecast of 4.2 percent. The country's economy is projected to be led by a resurgence in global growth, the tourism industry, and anticipated increased oil prices, according to Dr. Apurva Sanghi, the World Bank's head economist for Malaysia. “The economy is expected to face significant external risks. Deeper global growth shocks could potentially result in a more si...

OpenAI and Jony Ive are in discussions with SoftBank to raise $1 billion for their AI device project.

3Oct

By Webmaster IKON MalaysiaNo Comments

Business, Finance, Innovation/ Technology

OpenAI and Jony Ive are in discussions with SoftBank to raise $1 billion for their AI device project.

The Financial Times said on Thursday that ChatGPT maker OpenAI is in advanced talks with former Apple designer Jony Ive and SoftBank's Masayoshi Son to produce the "iPhone of artificial intelligence" with more than US$1 billion (RM4.7 billion) in funding from the Japanese company. According to the article, Ive's company LoveFrom has been hired by OpenAI CEO Sam Altman to create the ChatGPT creator's first consumer product. There have reportedly been "serious" discussions, but no contract has been reached, and it may take months before a venture is officially revealed, according to the story. Son, Altman, and Ive have also reportedly discussed starting a business that would combine their three firms' expertise and technological advancements. SoftBank chose not to respond to th...

How Malaysia and China can deepen ties amid South China Sea disputes and US-China rivalry

2Oct

By Webmaster IKON MalaysiaNo Comments

Opinion, Politics

How Malaysia and China can deepen ties amid South China Sea disputes and US-China rivalry

As a linchpin of China’s economic presence in Southeast Asia, Malaysia enjoys long-standing trade ties with the world’s second-largest economy, with trade volumes nearly doubling from US$106 billion in 2013 to US$203.6 billion last year. Malaysia is China’s second-largest trading partner in a region that is increasingly important in Beijing’s foreign policy vision and initiatives, including the Belt and Road Initiative and Global Development Initiative.Yet challenges remain, and both Beijing and Kuala Lumpur should know this. Amid intensifying geopolitical rivalries and pressures on countries to take sides, Malaysia has long sought to hedge between China and the United States. Territorial disputes, historical misfortunes and tensions between ethnic groups, and a complex history ...

Indonesia’s Kalimantan and Sumatra have 466 hotspots causing haze

2Oct

By Webmaster IKON MalaysiaNo Comments

Environment

Indonesia’s Kalimantan and Sumatra have 466 hotspots causing haze

A total of 353 hotspots have been found in Kalimantan and another 113 in Sumatra, Indonesia, which are predicted to generate haze in numerous Asean countries. Director-general of the Malaysian Meteorological Department (MetMalaysia), Muhammad Helmi Abdullah, stated that several states in east Malaysia would be affected by the effect from Kalimantan. He stated that this condition are expected to last for a few days. "The Hybrid Single Particle Lagrangian Integrated Trajectory (HYSPLIT) Model output has shown the forecasted haze trajectory for a period of 72 hours, starting from 0000 Coordinated Universal Time (8am) on Sept 30, until 0000 UTC (8am) on Oct 3. "The trajectory of the haze from Kalimantan is expected to affect Kuching, Serian and Samarahan (in Sarawak) during th...

Malaysia is inspired by the Swedish and Finnish road systems

1Oct

By Webmaster IKON MalaysiaNo Comments

Culture, News

Malaysia is inspired by the Swedish and Finnish road systems

While discussing how to reduce the danger of motorcycle accidents in Malaysia, Sweden and Finland were mentioned for their 'effective road safety measures.' More than 500.000 incidents were reported in Malaysia alone in 2022. 4101 of the 6080 reports that resulted in deaths were motorcycle riders. Prof. Dr. Kulanthayan KC Mani of the Department of Community Health, Faculty of Medicine and Health Sciences University of Putra Malaysia (UPM) stated that action needed to be taken. “We must remember that Malaysia was the first country in the world to introduce a motorcycle lane, but we never scaled it up. If the government can focus on having additional motorcycle lanes at places where there is high demand, we can reduce accidents.” He continued by outlining the need of keeping...

Does first-past-the-post still work for Malaysian politics?

30Sep

By Webmaster IKON MalaysiaNo Comments

Opinion, Politics

Does first-past-the-post still work for Malaysian politics?

Malaysia Day — hundreds of people gathered in downtown Kuala Lumpur to protest against a controversial ‘discharge not amounting to acquittal’ recently granted to Deputy Prime Minister Ahmad Zahid Hamidi. Originally facing 47 charges of corruption, criminal breach of trust and money laundering, Zahid is an embarrassment to Prime Minister Anwar Ibrahim who positions himself as an anti-corruption champion. Zahid’s discharge, applied for by the prime minister-controlled Attorney General’s Chamber, raised questions. Among these are how far Anwar — who denied his personal involvement in Zahid’s case — would go in compromising the reformist and multiculturalist platform of his coalition, Alliance of Hope (Pakatan Harapan, PH), to keep his post-election coalition government afloat until De...