Three million Chinese tourists in Malaysia to benefit from WeChat app
KUALA LUMPUR (Sept 19): Three million tourists from mainland China are expected to benefit from the WeChat Go Malaysia Mini Program, an interactive app, to search for any information and attraction in Malaysia from today.
Head of WeChat Global Marketing Ma Feng Ming said the programme served as a key platform to attract inbound visitors from mainland China through a partnership with Tourism Malaysia for the Visit Malaysia 2020 campaign.
“Via the interactive guide in Chinese, the Mini Program enables a digital travel experience on Malaysian attractionss, food, culture and shopping venues,” he said during the launch of the WeChat Go Malaysia Mini Program here, today.
He said it also enabled the travellers to pay using their home currency, the Renminbi, for services provided such as at Pos Malaysia, the Kuala Lumpur International Airprot (KLIA) Express, TripCarte and CatchThatBus.
“Visitors can select from a list of postcards and Pos Malaysia will print and deliver it to any address in mainland China. For the KLIA Express, tourists can book and pay for tickets ahead of the airport transfer train ride.
“Meanwhile, tourists can also book and pay for tickets to tourist attractions in Malaysia using TripCarte. CatchThatBus allows them to book and pay for bus tickets ahead of the ride,” Ma added.
Besides this programme, telco provider U Mobile, has partnered WeChat to launch the Pavilion KL Mini Program which begins on Oct 1.
Chief executive officer (retail) Pavilion KL, Datuk Joyce Yap said it is aimed at enhancing the dining and shopping experience for tourists.
“They can make reservations, order and pay for meals, at over 30 participating food and beverage merchants.
“At retail and fashion stores, they can order and pay for their choice of merchandise via the Mini Program and simply collect purchases when ready,” she said in her speech at the WeChat Go Malaysia Mini Program.
Last year, there were 2.9 million visitors from mainland China to Malaysia.
Currently there are 1.1 billion active WeChat users.

Three million Chinese tourists in Malaysia to benefit from WeChat app
KUALA LUMPUR (Sept 19): Three million tourists from mainland China are expected to benefit from the WeChat Go Malaysia Mini Program, an interactive app, to search for any information and attraction in Malaysia from today.
Head of WeChat Global Marketing Ma Feng Ming said the programme served as a key platform to attract inbound visitors from mainland China through a partnership with Tourism Malaysia for the Visit Malaysia 2020 campaign.
“Via the interactive guide in Chinese, the Mini Program enables a digital travel experience on Malaysian attractionss, food, culture and shopping venues,” he said during the launch of the WeChat Go Malaysia Mini Program here, today.
He said it also enabled the travellers to pay using their home currency, the Renminbi, for services provided such as at Pos Malaysia, the Kuala Lumpur International Airprot (KLIA) Express, TripCarte and CatchThatBus.
“Visitors can select from a list of postcards and Pos Malaysia will print and deliver it to any address in mainland China. For the KLIA Express, tourists can book and pay for tickets ahead of the airport transfer train ride.
“Meanwhile, tourists can also book and pay for tickets to tourist attractions in Malaysia using TripCarte. CatchThatBus allows them to book and pay for bus tickets ahead of the ride,” Ma added.
Besides this programme, telco provider U Mobile, has partnered WeChat to launch the Pavilion KL Mini Program which begins on Oct 1.
Chief executive officer (retail) Pavilion KL, Datuk Joyce Yap said it is aimed at enhancing the dining and shopping experience for tourists.
“They can make reservations, order and pay for meals, at over 30 participating food and beverage merchants.
“At retail and fashion stores, they can order and pay for their choice of merchandise via the Mini Program and simply collect purchases when ready,” she said in her speech at the WeChat Go Malaysia Mini Program.
Last year, there were 2.9 million visitors from mainland China to Malaysia.
Currently there are 1.1 billion active WeChat users.

“With consumers now relying even more on their smartphones for their day-to-day needs, we see that they are doing more banking on the go. With the internet and smartphone now an indispensable part of everyday life, customers have come to rely on their devices to perform a host of functions, including making payments. In particular, our customers are turning to mobile and internet banking services to make peer-to-peer payments, given the added convenience and security digital payments provide,” says Yap.
UOB, the third largest bank in Southeast Asia by total assets, is one of those that already have an operational virtual bank. TMRW — the region’s first mobile-only bank designed for Asean’s digital generation, who prefer to bank using their mobile phones — was launched in Thailand earlier this year. Yap says UOB plans to launch TMRW in other Asean markets, such as Indonesia, Malaysia, Singapore and Vietnam, subject to local regulatory requirements and licensing.
Contrary to popular belief, technology is not an issue for most banks, says Effendy. In many cases, the problem arises from the regulatory governance around the technology.
He cites the example of the electronic know-your-customer (e-KYC) process, which is one of the main hurdles that have stopped banks from offering services electronically and digitally in many markets. While the technology has existed for a while, the regulatory governance for it has yet to be established in Malaysia.
Bank Negara does have e-KYC guidelines, which it released in November 2017. However, the guidelines are currently only applied to approved remittance service providers.
Recently, the central bank issued an exposure draft that expands similar e-KYC guidelines for money changers in Malaysia, proposing minimum requirements and standards that a licensed money changer approved to implement e-KYC must observe in onboarding customers.
Effendy anticipates industry-wide e-KYC guidelines to be made available prior to the issuance of the virtual banking framework. “Hopefully, by the time the framework is launched, the problems surrounding e-KYC will be a thing of the past,” he says.
CIMB Group launched an all-digital, mobile-first bank in the Philippines early this year. On Aug 14, about six months after the app was launched, it was announced that the bank had already secured 500,000 customers. Last year, the bank launched a digital bank in Vietnam.
Having said that, the incumbents do think that smaller fintech players have certain competitive advantages. Lim Wyson, head of consumer financial services at OCBC Bank (M) Bhd, says since the new players are not constrained by legacy technology platforms, they are fast and nimble. They also have the advantage of choosing which part of banking they want to focus on — for example, credit services or cash management services. “The impact will be felt if they have an appealing and sustainable customer value proposition and experience and is able to scale,” he adds.
In Singapore, it was recently reported that OCBC was in talks with several companies, including Singapore Telecommunications Ltd (Singtel), to seek one of the city state’s planned virtual bank licences. According to the reports, the second largest bank in Singapore will take a minority stake in any virtual banking joint venture, seeing it as a way to tap new customers and markets.
Effendy does not discount the fact that fintech firms will probably be the first to introduce the most innovative solutions. Technology will not be the issue, he reiterates, but rather the legacy system and processes tied to it.
“There is this unique symbiosis happening in places such as China. Previously, fintech firms were seen as purely disruptors to the banks. But today, fintech players and banks compete and collaborate at the same time — the banks are riding the fintech firms’ online platforms and technologies,” says Effendy.
“However, I would argue that in countries like Malaysia, where the population stands at only 31 million, the one that comes out with the best services the fastest will win.”

Fintech: More to virtual banking than technology
September 09, 2019
In March, Bank Negara Malaysia announced that it would come out with the requirements for virtual bank licensing by year end. According to recent news reports, about 10 parties have expressed interest in setting up virtual banks in the country.
Bank Negara director of financial development and innovation Suhaimi Ali said at MyFintech Week 2019 that the parties comprised a mix of newcomers and financial players.
Virtual banks provide their services exclusively on digital platforms such as mobile and internet banking. These digital banks offer increased convenience and more personalised services to consumers through the use of electronic documentation, real-time data and automated processes.
Virtual banking is not a new concept in this part of the world. In fact, various versions of digital-only financial institutions have already been launched in countries such as India, Thailand, Indonesia and the Philippines. Hong Kong, for example, has awarded virtual banking licences to eight players so far.
Most banks in Malaysia have begun digitalising their services in response to consumer demands for more digital-based products and services. However, these services are still anchored in the old operating system, says CIMB Group Holding Bhd CEO of group ventures and partnerships Effendy Shahul Hamid.
“As you can imagine, this comes with a few problems. First, the core is not built for services to be done very quickly. So, in the past, banks — including ourselves — have gone through a lot of pain to make sure that we are able to offer digital services,” he says.
While some progress has been made on that front, regulators around the world are pushing for other ways to achieve greater financial inclusion and deliver best-in-grade services to consumers. This cannot be fully met with existing banking structure.
“Regulators are saying that while it is good that banks are delivering digitalised services to consumers, are there any opportunities for them to do something else [to address these concerns]? That is where digital banks come in,” says Effendy.
When it comes to setting up virtual banks, traditional banks may have the advantages of a larger client pool and the ability to scale. However, smaller financial technology (fintech) players are viewed as having the edge when it comes to technological innovation, especially in customer experience interface and providing niche services to segments that are underserved by banks. So, the incumbents may see these players take a slice of the pie when the virtual banking framework is launched.
Tech unicorn Grab, for example, has expressed interest in pursuing a virtual banking licence in Malaysia and Singapore. Through its fintech arm, Grab Financial, the platform currently offers an e-wallet to its consumers, lending to small and medium enterprises and micro-insurance products for its drivers.
However, Malaysian banks argue that there is more to banking than technology alone. Yap Kok Tee, executive director and country head of channels and digitalisation at United Overseas Bank (M) Bhd (UOB), says that while technology is changing the way people bank, fintech firms must ensure that they have robust risk management, regulatory compliance, security and customer protection in place to offer banking services. “For example, regulators must consider the capital that financial institutions are required to hold to ensure that the customer’s interest is always protected and to mitigate risks to Malaysia’s banking system and reputation.”
UOB has introduced a lot of digital services to its customers in Malaysia, including UOB Mighty, the first mobile banking app to incorporate banking, dining and payment transactions. Apart from supporting DuitNow, the bank has also partnered WeChat Pay Malaysia to encourage customers to go cashless.
“With consumers now relying even more on their smartphones for their day-to-day needs, we see that they are doing more banking on the go. With the internet and smartphone now an indispensable part of everyday life, customers have come to rely on their devices to perform a host of functions, including making payments. In particular, our customers are turning to mobile and internet banking services to make peer-to-peer payments, given the added convenience and security digital payments provide,” says Yap.

Petronas urges local startups to participate in FutureTech programme
KUALA LUMPUR (Aug 30): State-owned oil firm Petroliam Nasional Bhd (Petronas) has urged local startups to take part in its FutureTech, a technology accelerator programme to encourage local innovations and support Malaysian startups to succeed in the global marketplace.
In a statement today, Petronas said the programme aims to discover and nurture home-grown technology entrepreneurs, scale them up to global standards as well as build and influence the tech-driven startup ecosystem in the country.
The firm said it has partnered with 500 Startups, a Silicon Valley venture capital seed fund and accelerator, to select up to 20 local startups to undergo an intensive eight-week programme.
Petronas said the programme includes lectures, workshops, coaching with mentors from Silicon Valley and 500 Startups' global network, as well as experts from the firm's businesses and the oil and gas industry.
It said at the end of the programme in November, the startups will pitch their creative solutions to Petronas, investors, potential collaborators and the media.
The top three startups will then participate in a global immersion programme to deepen their expertise in business development as well as take up opportunities to go global.
Petronas said the selected startups would gain access to its resources, experts and reach of the Fortune Global 500 organisation.
The oil giant said its close collaboration with the startups will serve as an exposure for the startups to accelerate their business solutions to meet Petronas' business needs.
The focus themes for this first batch are Industry 4.0, Specialty Chemicals and Advance Materials, Future of Energy, Digital Transformation and Retail Innovation.
PETRONAS FutureTech Accelerator is an accelerator program in Kuala Lumpur focusing on accelerating Malaysian startups looking for an opportunity to scale up their businesses regionally and globally.
​Top Malaysian startups will be selected to learn from Silicon Valley Growth Experts and PETRONAS Business Unit leaders to take their companies to the next level.
Startups will be selected from a range of industries including but not limited to:
INDUSTRY 4.0
NEW CHEMICALS & ADVANCED MATERIALS
NEW ENERGY
RETAIL INNOVATION & DIGITAL TRANSFORMATION

Petronas urges local startups to participate in FutureTech programme
KUALA LUMPUR (Aug 30): State-owned oil firm Petroliam Nasional Bhd (Petronas) has urged local startups to take part in its FutureTech, a technology accelerator programme to encourage local innovations and support Malaysian startups to succeed in the global marketplace.
In a statement today, Petronas said the programme aims to discover and nurture home-grown technology entrepreneurs, scale them up to global standards as well as build and influence the tech-driven startup ecosystem in the country.
The firm said it has partnered with 500 Startups, a Silicon Valley venture capital seed fund and accelerator, to select up to 20 local startups to undergo an intensive eight-week programme.
Petronas said the programme includes lectures, workshops, coaching with mentors from Silicon Valley and 500 Startups' global network, as well as experts from the firm's businesses and the oil and gas industry.
It said at the end of the programme in November, the startups will pitch their creative solutions to Petronas, investors, potential collaborators and the media.
The top three startups will then participate in a global immersion programme to deepen their expertise in business development as well as take up opportunities to go global.
Petronas said the selected startups would gain access to its resources, experts and reach of the Fortune Global 500 organisation.
The oil giant said its close collaboration with the startups will serve as an exposure for the startups to accelerate their business solutions to meet Petronas' business needs.
The focus themes for this first batch are Industry 4.0, Specialty Chemicals and Advance Materials, Future of Energy, Digital Transformation and Retail Innovation.
PETRONAS FutureTech Accelerator is an accelerator program in Kuala Lumpur focusing on accelerating Malaysian startups looking for an opportunity to scale up their businesses regionally and globally.
​Top Malaysian startups will be selected to learn from Silicon Valley Growth Experts and PETRONAS Business Unit leaders to take their companies to the next level.
Startups will be selected from a range of industries including but not limited to:
INDUSTRY 4.0
NEW CHEMICALS & ADVANCED MATERIALS
NEW ENERGY
RETAIL INNOVATION & DIGITAL TRANSFORMATION

Petronas urges local startups to participate in FutureTech programme
KUALA LUMPUR (Aug 30): State-owned oil firm Petroliam Nasional Bhd (Petronas) has urged local startups to take part in its FutureTech, a technology accelerator programme to encourage local innovations and support Malaysian startups to succeed in the global marketplace.
In a statement today, Petronas said the programme aims to discover and nurture home-grown technology entrepreneurs, scale them up to global standards as well as build and influence the tech-driven startup ecosystem in the country.
The firm said it has partnered with 500 Startups, a Silicon Valley venture capital seed fund and accelerator, to select up to 20 local startups to undergo an intensive eight-week programme.
Petronas said the programme includes lectures, workshops, coaching with mentors from Silicon Valley and 500 Startups' global network, as well as experts from the firm's businesses and the oil and gas industry.
It said at the end of the programme in November, the startups will pitch their creative solutions to Petronas, investors, potential collaborators and the media.
The top three startups will then participate in a global immersion programme to deepen their expertise in business development as well as take up opportunities to go global.
Petronas said the selected startups would gain access to its resources, experts and reach of the Fortune Global 500 organisation.
The oil giant said its close collaboration with the startups will serve as an exposure for the startups to accelerate their business solutions to meet Petronas' business needs.
The focus themes for this first batch are Industry 4.0, Specialty Chemicals and Advance Materials, Future of Energy, Digital Transformation and Retail Innovation.
PETRONAS FutureTech Accelerator is an accelerator program in Kuala Lumpur focusing on accelerating Malaysian startups looking for an opportunity to scale up their businesses regionally and globally.
​Top Malaysian startups will be selected to learn from Silicon Valley Growth Experts and PETRONAS Business Unit leaders to take their companies to the next level.
Startups will be selected from a range of industries including but not limited to:
INDUSTRY 4.0
NEW CHEMICALS & ADVANCED MATERIALS
NEW ENERGY
RETAIL INNOVATION & DIGITAL TRANSFORMATION

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia. "They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia. "They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia. "They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia. "They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia. "They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia. "They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia. "They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

In his presentation titled, “Digital Transformation: What’s next for Malaysia?”, Raju pointed out that the use of smart analytical technology could elevate the country’s inherent strengths, which are competitive labour, infrastructure and diverse cultural history, among others.
“AI has great potential especially in areas which are fuzzy. For example, in cases of travel where a lot of things can go wrong such as, say you’re in Hong Kong and you need to board a flight but as you were caught in traffic due to the ongoing protest, you couldn’t reach the airport in time.
“How will you then reroute your flights, hotel bookings and all your appointments? This is where the AI engine can work. Your secretary, no matter how smart [she is], is not smarter than the machine and she will not be able to make appointments or clean up appointments on the fly, but AI can,” he said.
The crunching of big data, which Raju likened to “brute force computing”, on the hand, is key to writing efficient algorithm. AI uses algorithms to infer data efficiently.
But like it is with all technology, moving on to a digitalised economy has its own set of challenges, he added. The most prominent one is cybersecurity.
According to the World Economic Forum’s Global Risks Report 2018, cyberattacks were the third-largest threat facing the world, after natural disasters and extreme weathers.
“The Malaysian government has identified 10 critical infrastructures and an attack on any one of them could put the nation in great trouble. Nature attacks are localised, for example, if there is a flood or earthquake, the attack is confined to a specific geography. But if there is a cyberattack you never know who will be targeted,” he said.
Eugene Teh, chief business officer of Digi Telecommunications Sdn Bhd, said the up-and-coming 5G technology has been forcing some of the world’s oldest and biggest brands to innovate their products and services.
For instance, National Geographic that published its first magazine in 1888 has incorporated the virtual reality technology in one of its documentary programmes to engage with viewers differently. Other popular applications include the augmented reality that superimposes a computer-generated image on a user’s view of the real world and AI.
However, Teh said local businesses should adopt a practical approach to 5G and the technologies it enables, rather than avoiding it or hopping on the bandwagon immediately. Instead, he suggested, they should find simpler and cheaper ways to take advantage of it.
For instance, e-commerce retailers do not need to employ the full virtual reality technology to showcase their products online. However, they can move towards the direction of immersive experience by using existing equipment and methods.
“Some people are doing live-streaming to showcase their dresses and products. That’s one way of doing it. And I think it wouldn’t be too hard to find out other simple ways to produce a more immersive experience. You could probably buy a 360-degree camera, take some shots and feedback, and that could be sufficient,” he said.
Moving forward, the augmented reality and AI technologies could, for instance, help companies solve many other problems such as organising a meeting more efficiently with people across different continents and conducting highway maintenance works, said Teh.
The last speaker, Raymond Miranda, founder of Labora[s]tory Sdn Bhd, shared with participants about finding human-centric stories in their businesses, and reminded them to always keep people at the forefront of their solutions.
A central tenet of running a business is being able to seek out problems and find the corresponding solutions. But too often, he said, young entrepreneurs get so excited about the prospect of developing technologies and ideas to improve connectivity, without ever considering if it is facilitating any actual connections. “Connectivity does not mean connection,” Miranda reminded the crowd.
People tend to assume that both concepts are interchangeable, when in fact, “connectivity” is more akin to chaos. “We have for the longest time misinterpreted the world ‘connectivity’. We think it brings us together, but actually, what it does is show us all the options and possibilities that exist around us, and we end up feeling compelled to choose from all these options.”
He also challenged what he saw as the prevailing “Silicon Valley start-up model”. Silicon Valley has mastered the art of problem solving and finding solutions, he said. However, the model places a heavy premium on so-called “scalability” — that is, being able to quickly grow a solution or product into an all-conquering global phenomenon. The downside, Miranda contended, is the very high failure rate of these young businesses and founders, and the huge investment sums that also go up in smoke.

A time for transformation
The Edge Financial Daily August 05, 2019
KUALA LUMPUR: Change is on the agenda for both the country and companies alike, whether it is turning one’s company into a purpose-driven organisation, keeping up with the Joneses in terms of technology or hitching a company’s star to a particular ecosystem.
The Edge Malaysia editor-in-chief Azam Aris, in his opening speech at The Edge SME Forum 2019, pointed out that the only constant today is change and companies need to get with the programme.
The forum was themed “The Path to Transformation”.
This was The Edge’s fifth SME Forum. The first, held in 2015, looked at challenges faced by small and medium enterprises (SMEs) at the time, including the introduction of the goods and services tax and the difficulty in getting financing while the second focused on IoT (Internet of things).
The third forum delved into opportunities and challenges brought about by Industry 4.0 and the fourth, held last year, focused on the circular economy, which is both a US$4.5 trillion (RM18.72 trillion) opportunity as well as a key feature of sustainable development.
Transformation on a budget
Transformation on a shoestring budget is possible, according to Firdaus Abdullah, chief executive officer and executive director of SilTerra Malaysia Sdn Bhd, who kicked off the forum with a presentation of that title.
SilTerra, Malaysia’s only wholly locally-owned wafer foundry, was incurring losses for several years. Even after it turned a profit several years ago, it still has to work on a limited budget.
This forced the company to pivot from the direction where major global foundries were heading towards, which was to create smaller and finer wafers.
“To go down that path, [the cost] was about US$1 billion. We didn’t have that kind of money, as we are an SME ourselves, given the amount [of funds] we could deploy. So we had to move sideways and look at application areas where the chips we make can stay relevant for the next five to 15 years,” Firdaus said.
This meant going into the power sector, micro electro mechanical systems, photonics and life sciences. Now, the company works with clients from China, Taiwan, the US and other countries to produce an array of high-tech products. In addition, a company from China enlisted SilTerra to help build a wafer fabrication plant past year so it could reduce its reliance on chip imports.
However, Firdaus pointed out, Malaysian companies are not making use of its facilities. In fact, 99% of its business is with foreign companies. He hopes that Malaysian companies look to see what the local foundry can offer and work together with it to create innovative products that are connected, autonomous and intelligent.
All about software
Tan Teong Khin, president and managing director of Clarion (M) Sdn Bhd, called on Malaysian companies to embrace the software component of transformation. He pointed out that 50 years of transformation had been crammed into the past five years and most of the disruption came in the form of software.
“All the devices that we will be coming across every day will be 95% software-controlled in the next five years. The car stereo, for example, used to be completely mechanical — you will need to wind it to get the correct frequency. Today, most car radios are software-defined,” said Tan in his presentation, “Transformation in the Trenches: A Practical Viewpoint”.
It is vital for business owners to understand how software could benefit them before being left behind, said Tan. In many cases, deploying software could significantly improve their services or product offerings. He gave the example of car indicators, which used to be powered by a wire and three lightbulbs — one in front, one below the mirror and one at the back. These bulbs will flash in a sequence when the indicator is used.
“The car tomorrow that we are designing today runs on ethernet and time-sensitive networking. When the driver turns on the signal, the central computer will tell processor one to indicate, followed by processor two and three. That means all of them are powered and controlled separately.
“It sounded really unnecessary and complicated, but it saves 40kg of copper wire per car, and weight is [fuel] consumption. Before this, indicators only involved one wire and three bulbs. Now it is all software, plus 12 computers,” said Tan.
A US$136 billion potential return from digital transformation
The effective implementation of artificial intelligence (AI) and big data is crucial to Malaysia’s digital transformation initiatives, which could result in a potential return of US$136 billion, said Raju Chellam, vice-president of new technologies at Fusionex International plc.

In his presentation titled, “Digital Transformation: What’s next for Malaysia?”, Raju pointed out that the use of smart analytical technology could elevate the country’s inherent strengths, which are competitive labour, infrastructure and diverse cultural history, among others.
“AI has great potential especially in areas which are fuzzy. For example, in cases of travel where a lot of things can go wrong such as, say you’re in Hong Kong and you need to board a flight but as you were caught in traffic due to the ongoing protest, you couldn’t reach the airport in time.
“How will you then reroute your flights, hotel bookings and all your appointments? This is where the AI engine can work. Your secretary, no matter how smart [she is], is not smarter than the machine and she will not be able to make appointments or clean up appointments on the fly, but AI can,” he said.
The crunching of big data, which Raju likened to “brute force computing”, on the hand, is key to writing efficient algorithm. AI uses algorithms to infer data efficiently.
But like it is with all technology, moving on to a digitalised economy has its own set of challenges, he added. The most prominent one is cybersecurity.
According to the World Economic Forum’s Global Risks Report 2018, cyberattacks were the third-largest threat facing the world, after natural disasters and extreme weathers.
“The Malaysian government has identified 10 critical infrastructures and an attack on any one of them could put the nation in great trouble. Nature attacks are localised, for example, if there is a flood or earthquake, the attack is confined to a specific geography. But if there is a cyberattack you never know who will be targeted,” he said.
Eugene Teh, chief business officer of Digi Telecommunications Sdn Bhd, said the up-and-coming 5G technology has been forcing some of the world’s oldest and biggest brands to innovate their products and services.
For instance, National Geographic that published its first magazine in 1888 has incorporated the virtual reality technology in one of its documentary programmes to engage with viewers differently. Other popular applications include the augmented reality that superimposes a computer-generated image on a user’s view of the real world and AI.
However, Teh said local businesses should adopt a practical approach to 5G and the technologies it enables, rather than avoiding it or hopping on the bandwagon immediately. Instead, he suggested, they should find simpler and cheaper ways to take advantage of it.
For instance, e-commerce retailers do not need to employ the full virtual reality technology to showcase their products online. However, they can move towards the direction of immersive experience by using existing equipment and methods.
“Some people are doing live-streaming to showcase their dresses and products. That’s one way of doing it. And I think it wouldn’t be too hard to find out other simple ways to produce a more immersive experience. You could probably buy a 360-degree camera, take some shots and feedback, and that could be sufficient,” he said.
Moving forward, the augmented reality and AI technologies could, for instance, help companies solve many other problems such as organising a meeting more efficiently with people across different continents and conducting highway maintenance works, said Teh.
The last speaker, Raymond Miranda, founder of Labora[s]tory Sdn Bhd, shared with participants about finding human-centric stories in their businesses, and reminded them to always keep people at the forefront of their solutions.
A central tenet of running a business is being able to seek out problems and find the corresponding solutions. But too often, he said, young entrepreneurs get so excited about the prospect of developing technologies and ideas to improve connectivity, without ever considering if it is facilitating any actual connections. “Connectivity does not mean connection,” Miranda reminded the crowd.
People tend to assume that both concepts are interchangeable, when in fact, “connectivity” is more akin to chaos. “We have for the longest time misinterpreted the world ‘connectivity’. We think it brings us together, but actually, what it does is show us all the options and possibilities that exist around us, and we end up feeling compelled to choose from all these options.”
He also challenged what he saw as the prevailing “Silicon Valley start-up model”. Silicon Valley has mastered the art of problem solving and finding solutions, he said. However, the model places a heavy premium on so-called “scalability” — that is, being able to quickly grow a solution or product into an all-conquering global phenomenon. The downside, Miranda contended, is the very high failure rate of these young businesses and founders, and the huge investment sums that also go up in smoke.

A time for transformation
The Edge Financial Daily August 05, 2019
KUALA LUMPUR: Change is on the agenda for both the country and companies alike, whether it is turning one’s company into a purpose-driven organisation, keeping up with the Joneses in terms of technology or hitching a company’s star to a particular ecosystem.
The Edge Malaysia editor-in-chief Azam Aris, in his opening speech at The Edge SME Forum 2019, pointed out that the only constant today is change and companies need to get with the programme.
The forum was themed “The Path to Transformation”.
This was The Edge’s fifth SME Forum. The first, held in 2015, looked at challenges faced by small and medium enterprises (SMEs) at the time, including the introduction of the goods and services tax and the difficulty in getting financing while the second focused on IoT (Internet of things).
The third forum delved into opportunities and challenges brought about by Industry 4.0 and the fourth, held last year, focused on the circular economy, which is both a US$4.5 trillion (RM18.72 trillion) opportunity as well as a key feature of sustainable development.
Transformation on a budget
Transformation on a shoestring budget is possible, according to Firdaus Abdullah, chief executive officer and executive director of SilTerra Malaysia Sdn Bhd, who kicked off the forum with a presentation of that title.
SilTerra, Malaysia’s only wholly locally-owned wafer foundry, was incurring losses for several years. Even after it turned a profit several years ago, it still has to work on a limited budget.
This forced the company to pivot from the direction where major global foundries were heading towards, which was to create smaller and finer wafers.
“To go down that path, [the cost] was about US$1 billion. We didn’t have that kind of money, as we are an SME ourselves, given the amount [of funds] we could deploy. So we had to move sideways and look at application areas where the chips we make can stay relevant for the next five to 15 years,” Firdaus said.
This meant going into the power sector, micro electro mechanical systems, photonics and life sciences. Now, the company works with clients from China, Taiwan, the US and other countries to produce an array of high-tech products. In addition, a company from China enlisted SilTerra to help build a wafer fabrication plant past year so it could reduce its reliance on chip imports.
However, Firdaus pointed out, Malaysian companies are not making use of its facilities. In fact, 99% of its business is with foreign companies. He hopes that Malaysian companies look to see what the local foundry can offer and work together with it to create innovative products that are connected, autonomous and intelligent.
All about software
Tan Teong Khin, president and managing director of Clarion (M) Sdn Bhd, called on Malaysian companies to embrace the software component of transformation. He pointed out that 50 years of transformation had been crammed into the past five years and most of the disruption came in the form of software.
“All the devices that we will be coming across every day will be 95% software-controlled in the next five years. The car stereo, for example, used to be completely mechanical — you will need to wind it to get the correct frequency. Today, most car radios are software-defined,” said Tan in his presentation, “Transformation in the Trenches: A Practical Viewpoint”.
It is vital for business owners to understand how software could benefit them before being left behind, said Tan. In many cases, deploying software could significantly improve their services or product offerings. He gave the example of car indicators, which used to be powered by a wire and three lightbulbs — one in front, one below the mirror and one at the back. These bulbs will flash in a sequence when the indicator is used.
“The car tomorrow that we are designing today runs on ethernet and time-sensitive networking. When the driver turns on the signal, the central computer will tell processor one to indicate, followed by processor two and three. That means all of them are powered and controlled separately.
“It sounded really unnecessary and complicated, but it saves 40kg of copper wire per car, and weight is [fuel] consumption. Before this, indicators only involved one wire and three bulbs. Now it is all software, plus 12 computers,” said Tan.
A US$136 billion potential return from digital transformation
The effective implementation of artificial intelligence (AI) and big data is crucial to Malaysia’s digital transformation initiatives, which could result in a potential return of US$136 billion, said Raju Chellam, vice-president of new technologies at Fusionex International plc.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Malaysia still far from being out of the woods, says Daim
KUALA LUMPUR (Aug 5): Malaysia is still far from reaching the status of a developed country with unified citizens that is ready to face the industrial challenges of the future, says Council of Eminent Persons (CEP) chairman Tun Daim Zainuddin.
Daim said Malaysia is still playing catch up with the fourth industrial revolution when other countries are already gearing for the supposed fifth industrial revolution.
"Let us not be under any illusions. We are still far from being out of the woods. We are far from being ready for the changes happening around us.
"We are far from being a united people. We are far from being able to compete at the global level. We are far from being able to embrace differences and changes.
"And underpinning all of this unpreparedness is education," he said at the launch of the International Conference on Emerging Issues in Public Policy at Universiti Malaya's Institute of Public Policy and Management.
The former finance minister pointed out that education is the key to prepare the youth for the future. However, he said the education ministry has failed to prioritise the right issues to tackle, which has hindered the progress of reforms within the national education policy.
"We are still arguing over whether we should teach Maths and Science in English, when the rest of the world has embarked on advanced curriculums that focus on Industrial Revolution 4.0 (IR4) so as to make their youth more competitive and relevant in a world that is going to be dominated by artificial intelligence and robotics," he said.
"To participate in IR4, we must go through a knowledge-based economy and here Malaysia has failed because the government, through the Ministry of Education, has not got its priorities right. The Education Ministry must not fail our nation.
"While we are still mired in the political rhetoric of languages, others around us have moved beyond English or Mandarin or Bahasa Malaysia into the language of programming and coding. When will we realise just how far behind we are and lacking?" Daim added.
In facing the rise of technology in industrialisation, Daim said the government should implement policies that create an environment where people are allowed to maximise their potential and pursue creative pursuits that are complemented by technology, not replaced by it.
The reality is, he said, technology will have the most impact on future employment as robots replace humans in menial tasks. But where one window closes, another opens, he added.
"Fields such as Artificial Intelligence, Big Data, Robotics, Supply Chain Logistics, and Smart Manufacturing need skilled workers and indeed, the World Economic Forum has estimated that 133 million jobs will emerge as technology advances," he said.
At the same time, Daim stressed that education is not just for skills development, but it is also for the soul. He said the values that are instilled in the youth at home and at the school level will greatly impact the type of adults they evolve into.
"We must empower them with the ability to think critically, logically, wisely and to make their own informed decisions, no matter the situation. We must raise a new generation of leaders and great thinkers, not of sheep and cowards," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

PUTRAJAYA: Malaysia should be able to leverage on 5G technology and catapult the national economy towards strong and sustainable growth, says the Prime Minister.
Tun Dr Mahathir Mohamad said, however, this is only possible if all stakeholders get aboard the 5G agenda together with the government. I am confident, that if we make the necessary preparations to usher this transformational technology, Malaysia should be able to leverage 5G within the next three years, enabling the country to punch above its own weight and catapulting the national economy towards strong and sustainable growth. We have come a long way, and yet there’s still a distance to go. What we are doing today is the cornerstone of Malaysia’s march into the new age and a vital foundation for us to remain relevant and competitive,” said Dr Mahathir at the launch of the 5G Malaysia showcase here on Thursday Dr Mahathir said 5G will impact every industry that is vital to the growth of the country’s economy.
Industries like manufacturing that has contributed 22% to the Gross Domestic Product in the last five years, remains integral to the national economy.
Through smart manufacturing or massive machine-type communications, the government hopes that it can attract high value-added, high technology and knowledge-intensive investment in areas such as aerospace, chemicals and chemical products, machinery and equipment, medical devices, and electrical and electronics,” he said.
Dr Mahathir said the government - through the National Fiberisation and Connectivity Plan (NFCP) and the National 5G Task Force - aimed to create an environment conducive for 5G growth .The businesses are our main stakeholders and we need to continue improving the environment for the businesses to prosper,” he said. The 5G showcase event is open to the public at the Putrajaya Corporation Complex until April 21. 5G is a technology that promises fast speed and connections. It opens the world for smart cities, driverless cars, improved health care and a fully-realised Internet-of-things( ioT ). 5G is said to revolutionise the entire industries and the way people live, work and play.

Guan Eng may visit China again to attract investments
KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.

KUALA LUMPUR (Jul 15): Finance Minister Lim Guan Eng said he may pay another visit to China, potentially Shenzhen again, to attract more investment into Malaysia.
Lim said although the US is the largest foreign investor in Malaysia and is expected to continue to increase, but the potential of China’s capital is increasing.
“China has its advantage, and the US has its advantage. These two countries are among the best in terms of foreign investment, and they are both very important,” he told local Chinese media Kwong Wah Daily in an interview last Saturday.
Lim said if he visits China again next month, his focus will be on investment, so one of the destinations would likely be Shenzhen, to attract high-tech, high-value Chinese major manufacturers to invest in Malaysia.
Lim also said after his first official visit to China earlier this month, both countries' governments are discussing the possibility of establishing an interactive channel for the stock exchanges of both countries.
Lim said he would discuss this further with Chinese authorities if his next visit to the country materialise.
"I hope we can yield some results in the near future," he said.
Lim said in addition to investment and business, both countries also hope to strengthen securities and stock exchanges areas.
After a visit to the Shenzhen Stock Exchange, Lim said they are studying whether it is possible to create a new platform that makes both capital and stock markets more competitive, and gain more access to financing.
Lim said this would require further works to be done, including formulation of the technological process and financing mechanism.
Lim hopes that after visiting China, he could accelerate the materialisation of this objective.
On the matter of potential raising of Panda bonds from banks in China, Lim said the Malaysian government is still considering it, as the government thinks that it deserves a lower interest rate.
Meanwhile, Lim said after visiting Huawei’s operation in Shenzhen and meeting its management, the technology giant pledged to strengthen its investment in Malaysia.
Lim also said representatives from Huawei will organise a visit to Malaysia as well, and he is scheduled to meet them to discuss more on the company’s potential implementation of 5G technology in Malaysia.
"They will come in a week or two. When I am in Penang, I will discuss with them," he said.