Singapore Pledges to Cut Cash, Checks on Path to Digital Economy

Singapore Pledges to Cut Cash, Checks on Path to Digital Economy

Digital Economy, Industry 4.0, Smart City
Singapore pledges to cut cash, checks on path to digital economy  SINGAPORE (20 June 2018): Singapore is accelerating the shift toward digital payments by pledging to eliminate check usage by 2025 and slash cash withdrawals from automated telling machines. Both payment methods are declining in popularity, Education Minister Ong Ye Kung, who sits on the Monetary Authority of Singapore board, said in a speech on Wednesday night. To promote electronic fund transfers, the government-endorsed payments platform, called PayNow, will be extended to companies starting Aug. 13. Figure 1: Singapore is embracing technology to enhance its status as a regional financial hub and compete with other major cities including Hong Kong and London. — Bloomberg Singapore is embracing technology to enhance its status as a regional financial hub and compete with other…
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Sarawak, Singapore Ink MOU For Mobile Digital Payment Collaboration

Sarawak, Singapore Ink MOU For Mobile Digital Payment Collaboration

Digital Economy, Industry 4.0, Sarawak, Smart City
Sarawak, Singapore ink MOU for mobile digital payment collaboration SINGAPORE (6 March 2018): Sarawak and Singapore this morning signed a Memorandum of Understanding (MOU) to pave the way for collaboration in the mobile digital payment platform. Figure 1: Abang Johari and entourage in a group photograph with PM Lee at the Istana. Seen at right is Dato’ Zulkifli.. Sarawak Chief Minister Datuk Patinggi Abang Johari Tun Openg who is currently leading a state delegation on a two-day working visit to Singapore witnessed the signing ceremony at leading hotel here. Also present at the signing ceremony were Singapore Minister In-Charge of Smart Nation Dr. Vivian Balakrishnan, Sarawak Deputy Chief Ministers Datuk Amar Douglas Uggah Embas and Tan Sri Datuk Amar Dr. James Jemut Masing, Sarawak State Secretary Tan Sri Datuk Amar…
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Sarawak Inks Deal With S’pore Entities For Mobile Digital Payment Platform

Sarawak Inks Deal With S’pore Entities For Mobile Digital Payment Platform

Digital Economy, Industry 4.0, Sarawak, Smart City
Sarawak inks deal with S'pore entities for mobile digital payment platform KUCHING (8 March 2018): Sarawak has signed a memorandum of understanding with Singapore to pave the way for collaboration in a mobile digital payment platform. The MOU was inked by the Sarawak Multimedia Authority (SMA) and Network for Electronic Transfers (Singapore) Pte Ltd, which were represented by its general manager Dr Zaidi Razak and group chief executive Jeffrey Goh respectively. Figure 1: (From left) Dr Zaidi, Abang Johari, Dr Balakrishnan and Goh at the MOU signing ceremony. Chief Minister Datuk Patinggi Abang Johari Tun Openg, who led a state delegation on a two-day working visit to Singapore, witnessed the signing ceremony. Also present were Singapore Minister in charge of Smart Nation Dr Vivian Balakrishnan, Sarawak deputy chief ministers Datuk…
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M’sia Has Strong Potential As Data Centre Hub

M’sia Has Strong Potential As Data Centre Hub

Digital Economy, Industry 4.0, Smart City
M’sia has strong potential as data centre hub KUALA LUMPUR (20 June 2018): Malaysia has a strong potential to become a regional hub for data centres as well as co-location (CoLo) providers on a myriad of factors including cheaper land, lower electricity cost and skilled workforce. Vertiv Malaysia Sdn Bhd country manager Hitesh Prajapati said Malaysia has been rated as one of the top locations for data centres in Southeast Asia and it was also leading in terms of cloud technology adoption. According to Malaysia Digital Economy Corporation (MDEC), the data industry in Malaysia is expected to more than double to RM2 billion by 2020. This growth was seen as a result of the increase in the use of big data analytics, cloud computing and data recovery, he told Bernama. “With…
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Japan Start-up Mercari Soars In First Day of Tokyo Trade

Japan Start-up Mercari Soars In First Day of Tokyo Trade

Digital Economy, Entrepreneurs, Smart City
Japan start-up Mercari soars in first day of Tokyo trade TOKYO (19 June 2018): Japanese flea market app Mercari soared yesterday as it debuted on the Tokyo Stock Exchange, a major success for the rare example of a Japanese ‘unicorn’ – a start-up valued over US$1 billion. The company initially priced its stock at 3,000 yen (US$27.30) a share, at the top of a prospective range. But that price was quickly surpassed on Tuesday, with shares trading around 5,300 yen at midday, putting the firm’s value at over 700 billion yen (US$6.37 billion). Figure 1: Mercari Inc. employees react as they hold the company's sign ahead of a ceremony to mark the company's debut on the Tokyo Stock Exchange in Tokyo, Japan, June 19, 2018. REUTERS/Kim Kyung-Hoon. The online marketplace,…
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Alibaba’s Jack Ma and Malaysia PM Mahathir Mohamad talk tech, jobs and future as China deals come under scrutiny

Alibaba’s Jack Ma and Malaysia PM Mahathir Mohamad talk tech, jobs and future as China deals come under scrutiny

Aviation and Aerospace, Digital Economy, Entrepreneurs, General, Industry 4.0, Smart City
Alibaba’s Jack Ma and Malaysia PM Mahathir Mohamad talk tech, jobs and future as China deals come under scrutiny KUALA LUMPUR (18 June 2018): Alibaba Group’s efforts to undertake an intensive transfer of technology and skills to Malaysia are aligned with Prime Minister Mahathir Mohamad’s hopes for the Southeast Asia economy to transit into high-income status quickly, the Chinese conglomerate’s co-founder Jack Ma said on Monday. Ma was speaking to the media after a meeting with Mahathir in Kuala Lumpur – the first by a Chinese entrepreneur since the country’s landmark election on May 9 in which the veteran politician had been critical about investments from the mainland that had not brought jobs to the country. Mahathir won the election decisively and is back in power for a second tenure…
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Jack Ma: It was Dr M’s MSC that inspired me to start Alibaba

Jack Ma: It was Dr M’s MSC that inspired me to start Alibaba

Aviation and Aerospace, Digital Economy, Entrepreneurs, General, Industry 4.0, Smart City
Jack Ma: It was Dr M's MSC that inspired me to start Alibaba KUALA LUMPUR (18 Jun 2018): The inspiration to form Alibaba was inspired by Malaysia's Multimedia Super Corridor (MSC), says Jack Ma. The Alibaba founder and executive chairman said that he read about MSC in a newspaper 20 years ago and found the idea inspiring. "I thought, 'Wow, this is a genius idea. If Malaysia can do this, why can't China. Why can't I do this myself?' "So Malaysia inspired me to create Alibaba," he said during the launch of an Alibaba Group office in Kuala Lumpur on Monday (June 18). The MSC was established in 1996 by the then Prime Minister Tun Dr Mahathir Mohamad, while Alibaba was founded in 1999. Ma said that he witnessed how…
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Internet Access As Constitutional Right To Be Proposed To Cabinet Soon

Internet Access As Constitutional Right To Be Proposed To Cabinet Soon

Digital Economy, Entrepreneurs, General, Industry 4.0, Smart City
Communications and Multimedia Minister Gobind Singh Deo aimed at allowing Malaysians to benefit from the national e-economy and e-commerce. CYBERJAYA (11 June 2018): The proposal for internet access to be made a constitutional right would be brought to the Cabinet in the near future. Communications and Multimedia Minister Gobind Singh Deo said the proposal was aimed at allowing Malaysians to benefit from the national e-economy and e-commerce. Figure 1: Communications and Multimedia Minister Gobind Singh Deo said the proposal was aimed at allowing Malaysians to benefit from the national e-economy and e-commerce. “The proposal will bring about an abundance of benefits and information access to the people without involving any political element,” he told reporters after a working visit to Malaysia Digital Economy Corporation (MDEC) here today. Gobind said if…
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Govt Looking At Doubling Internet Speed At Half The Price: Gobind

Govt Looking At Doubling Internet Speed At Half The Price: Gobind

Digital Economy, Industry 4.0, Smart City
Govt looking at doubling internet speed at half the price: Gobind KUALA LUMPUR (23 May 2018): New Communications and Multimedia Minister Gobind Singh Deo says he will work towards achieving broadband connections that are "double the speed, half the price" for the people. Figure 1: Gobind Singh Deo clocks in to work on his first day as the Communications and Multimedia Minister, on May 22, 2018. He said the public had been complaining about the quality of broadband in Malaysia, which was far inferior to other developed countries. Gobind, who started his first day in charge of the ministry yesterday said he would look at various aspects including problems faced by telecommunications companies and find solutions to improve the quality of broadband services in the country. "If we look at…
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