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Old August 12th, 2019, 01:03 PM   #1441
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Tun M to chair meeting over Causeway congestion — Muhyiddin
Bernama August 09, 2019 22:36 pm +08
Quote:
MUAR (Aug 9): Prime Minister Tun Dr Mahathir Mohamad is to chair a special meeting to discuss solutions to the traffic congestion on the Johor Causeway, Home Minister Tan Sri Muhyiddin Yassin said today.

He said the meeting will be held on Aug 22.

“The Home Ministry has been given the responsibility to prepare a working paper on some proposals to address the problem,” he told reporters here after handing over cows for the Aidiladha sacrificial slaughter for his Pagoh Parliamentary constituents in Taman Pagoh Jaya here.

Dr Mahathir had raised the matter of traffic congestion with Singapore Prime Minister Lee Hsien Loong during the 9th Malaysia-Singapore Leaders’ Retreat in April.
https://www.theedgemarkets.com/artic...0%94-muhyiddin
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Old August 22nd, 2019, 08:22 PM   #1442
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Singapore-based Axinan secures Labuan FSA's general, reinsurance licence
Bernama August 21, 2019 18:49 pm +08


Quote:
KUALA LUMPUR (Aug 21): Singapore-based insurtech firm Axinan, through its subsidiary Axinan Labuan Ltd, has secured a combined General and Reinsurance licence, issued by the Labuan Financial Services Authority (Labuan FSA), a statutory regulator under the Ministry of Finance.

Axinan, in a statement today, said this would enable the company to have greater ease underwriting new product lines and distribute insurance products through a fronting arrangement with local insurers, subject to the country’s regulatory requirements.

Axinan founder and chief executive officer (CEO) Wei Zhu said the company could provide a greater variety of insurance products better suited to meet the needs of the digital economy while providing additional value to existing customers with the licence.

“We are proud to be the first Southeast Asian insurtech company to be certified by Labuan FSA.

“Being a first-mover in Southeast Asia’s insurtech industry providing solutions for customers and enterprises, we are actively looking to forge strategic partnerships that can strengthen our offerings within the markets we operate in,” he said.

Farah Jaafar-Crossby, CEO of Labuan International Business and Financial Centre Inc, the market development arm of Labuan FSA, said Licensing Axinan was one of Labuan IBFC’s first steps in embracing insurtech specifically and fintech generally.

“Asia is undisputedly a key growth driver for the global insurance industry and insurtech’s role as an accelerator to this growth could not be timelier.

“We believe insurtech will lead to a more innovative, efficient and accessible insurance/reinsurance industry, the technology may even facilitate a platform to cultivate a more financially inclusive region via micro-insurance,” she said. — Bernama
https://www.theedgemarkets.com/artic...urance-licence
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Old August 22nd, 2019, 08:56 PM   #1443
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Workers' accommodation operator Centurion Corp to expand presence in Malaysia
Rachel Chew August 20, 2019 15:26 pm +08


Quote:
KUALA LUMPUR (Aug 20): Singapore’s owner-operator of purpose-built workers accommodation (PBWA) Centurion Corp Ltd is expanding in Malaysia, which will include a new asset in Johor that offers 3,600 beds by next year.

Centurion is a Singapore/Hong Kong-listed company that focuses on student and worker accommodation. Under the brand name Westlite Accommodation, the company currently owns and operates 11 worker accommodation assets with a total of 56,800 beds in Singapore and Malaysia.

Centurion ventured into Malaysia in 2012 and now owns and operates seven worker accommodation assets comprising 30,700 beds in Johor and Penang.

“By mid next year, our new asset in Johor will be completed and we will have another 3,600 beds added to Malaysia portfolio.

“We have another asset in Penang which is pending approval from the authorities. That will be another 6,100 beds. The construction works will take about 18 to 24 months,” said Centurion’s workers’ accommodation country head in Malaysia, Alfred Lee during a media briefing in Kuala Lumpur today.

He said the company’s current asset value in Malaysia is about RM280 million.

“We would like to focus on the Malaysia market and we hope to venture into the Selangor market, especially into the industrial areas. We are also looking to expand to other countries in South East Asia and the Middle East,” he noted.

Currently, the company has more than 100 clients in Malaysia who are mostly in the manufacturing industry.

“Our clients are the employers. We can cater to their specific worker accommodation needs be it for a few thousands workers from one MNC (multi-national corporation) or for 10 to 20 workers from a SME (small-medium enterprise). However, we only accept legal and registered workers. The minimum tenancy contract is one year,” said corporate communications head David Phey.

A Westlite Accommodation is a self-contained permanent structure in a secure environment. It provides spacious apartment style living spaces with en-suite or shared bathrooms and cooking facilities, as well as comprehensive amenities such as supermarket, food court, sick bay, gym and indoor and outdoor community facilities.

All accommodation has 24/7 onsite security with features such as biometric face recognition and personal key card access.

Westlite Accommodation also provides onboarding services, operational services, emergency response, counselling services and social activities.

“The Workers’ Minimum Standard of Housing and Amenities Bill 2019 has just been passed and we are confident about the prospects of this industry. In fact, we have received more enquiries, especially from Penang,” said the accommodation business chief operating officer Kelvin Teo.

The latest completed Westlife Accommodation in the country is located in Bukit Minyak, Penang. It was completed in January and began operations in April. The asset has 6,600 beds and the investment value was RM65 million.

“The average occupancy rate for all seven assets in Malaysia is about 90%,” noted Teo.

He added that the company is also looking for joint venture opportunities to provide accommodation solutions in Malaysia.
https://www.theedgemarkets.com/artic...sence-malaysia
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Old September 10th, 2019, 03:39 PM   #1444
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Grab to get new S$181 million headquarters in Singapore
30 Jan 2019 09:35PM





Artist's impression of Grab's new headquarters at one-north. (Image: Grab/Ascendas Reit)

Quote:
SINGAPORE: Ride-hailing giant Grab will build a new Singapore headquarters in one-north as it expands its operations.

The company announced this on Wednesday (Jan 30) in a joint media release with Ascendas Reit, which will develop and manage the building. It is expected to cost about S$181.2 million.

The new headquarters, which is expected to be ready in the fourth quarter of 2020, will house all of Grab's employees in Singapore.

"Grab’s largest R&D centre will also be based here, as Grab continues to expand its tech team globally," said the media release.

Grab currently has four offices in Singapore at Midview City, Marina One, Cecil Street and Guoco Tower.

The new building will be designed with green features, incorporating mid-level sky terraces and communal spaces.

"The new headquarters is yet another important milestone for us - it represents our long term commitment to Singapore and the region,” said the company's head of people Ong Chin Yin, noting that Grab hit its three billionth ride in Southeast Asia last week.

She added that Grab has plans to create and hire for "a thousand more exciting roles" globally over the next 12 months.

Grab, which started as a ride-hailing app in 2012, quickly grew to offer food and package deliveries, mobile payments and financial services. It currently operates in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.
Read more at https://www.channelnewsasia.com/news...north-11185934

Quote:


The idea of creating a taxi-booking mobile app for Southeast Asia similar to those being pioneered in the US first came from Anthony Tan, who is the youngest of the three brothers of the family that operates Tan Chong Motors, the authorised distributor for Nissan cars in Malaysia. In 2014, Grab moved its company headquarters from Malaysia to Singapore. According to the company's filings with the Singapore government in 2017, Anthony Tan also acquired Singaporean citizenship.

https://www.todayonline.com/singapor...n-new-hq-opens

https://www.grab.com/sg/press/busine...est-rd-centre/
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Old September 20th, 2019, 02:43 PM   #1445
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Willowglen gets RM14m job from S'pore firm to maintain surveillance system
Chester Tay September 20, 2019 18:13 pm +08
Quote:
KUALA LUMPUR (Sept 20): Willowglen MSC Bhd has been awarded a contract worth RM13.76 million to provide maintenance for an Integrated Security and Operation Surveillance System to SP PowerAssets Ltd, a Singapore company.

In a filing to Bursa Malaysia today, Willowglen said its wholly-owned subsidiary Willowglen Services Pte Ltd had secured the contract, which commences on Oct 1 and is scheduled to complete by Sept 30, 2022. The contract is not renewable.

Willowglen's share price gained 1.5 sen or 3.9% to close at 40 sen today, for a market capitalisation of RM194.63 million.
https://www.theedgemarkets.com/artic...illance-system
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Old October 6th, 2019, 01:17 PM   #1446
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Singapore asks NS Govt to open tourism, trade office in republic
Bernama October 03, 2019 01:17 am +08
Quote:
SEREMBAN (Oct 2): Singapore has asked the Negeri Sembilan (NS) State Government to set up a tourism and trade office in the republic, said Datuk Seri Aminuddin Harun.

He said the matter was raised during a closed-door meeting with Singapore Foreign Minister Dr Vivian Balakrishnan, here yesterday.

"We welcome the offer, but we need a thorough study to see if it really brings benefits, we will take up the opportunity. This matter needs to be explored," he told a press conference after chairing the State Executive Council meeting here today.

Commenting on the earlier meeting, he said besides the offer from Singapore, the State Government also discussed investments in Negeri Sembilan, especially under the Malaysia Vision Valley 2.0 (MVV 2.0) project.

“They (Singapore) wanted to know what was available under the MVV 2.0 and if there were enough local manpower, or if they needed to import foreign workers if they opened a factory in the State.

"The Singapore Government had invited the State Government to the island for a briefing with its investors on the MVV project. They view the MVV as a project with great potential to be ‘sold’ to Singaporean investors. If there is a free industrial area in the state, I believe it will also attract more investors to come to our country,” he said.

State Investment, Industrial, Entrepreneurship, Education and Human Capital Committee chairman, Dr Mohamad Rafie Ab Malek, said Aminuddin was asked to organise a reciprocal visit.

Meanwhile, he said, the State Government will also hold a tourism campaign aimed at Singaporeans in the republic, as there were many interesting places for tourists in Negeri Sembilan.
https://www.theedgemarkets.com/artic...ffice-republic
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