Ahd, Sep

PETALING JAYA : Qi Group of Companies Founder and Executive Chairman Datuk Seri Vijay Eswaran has lauded the signing of the Trans-Pacific Partnership Agreement (TPPA) in Auckland today, saying Malaysian firms must formulate strategies to emerge as global champions as well as penetrate the United States market in a big way.

"If we are able to get a piece of the American pie by selling or manufacturing goods or services and go global, the effect here in Malaysia is multiple," he said in an immediate response to the TPPA signed by the 12 Pacific Rim countries.

"The effect on our economy is tremendously more," he added.

Vijay, who leads the highly-successful global multi-level marketing conglomerate, said local firms should leverage on their core competencies, particularly that of commodities, to penetrate what is now formally one of the world's largest trade pacts.

Besides Malaysia, the other 11 participating nations in the TPPA include Australia, Brunei, Canada, Chile, Japan, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

"The TPPA is inevitable," he told Bernama while dispelling misperceptions that the agreement favoured the United States.

"We have to

KUALA LUMPUR : Malaysia is looking to expand its halal market to the Trans-Pacific Partnership (TPP) countries including Australia and New Zealand.  

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Malaysia had been working closely with the two countries as they were familiar with Malaysia's halal agenda.

"We are looking for markets in some of these (TPP) countries. For example, in the United States and Canada, where the Muslim population is growing.

"By promoting

PETALING JAYA : The Malaysian economy is very stable and among the contributing factors is the implementation of the Goods and Services Tax (GST) in April last year, said Prime Minister Datuk Seri Najib Tun Razak.

Najib, who is also the Finance Minister, said the Customs Department had collected more than RM51 billion in revenue since the implementation of the GST, compared with a collection of RM37.2 billion in 2014 without the GST.

He described the additional collection as oxtraordinary and

KUALA LUMPUR : The ringgit opened higher against the US dollar Wednesday in tracking the rebound in crude oil prices and on renewed demand, dealers said.

At 9 am, the local unit was traded at 4.2580/2640 from 4.2885/2945 against the greenback on Tuesday.

"Investors are also closely watching the US Federal Reserve's meeting this week, since it will be the first (meeting) since interest rates went up in last December," said a dealer.

The ringgit also traded mostly higher against other major

KOTA KINABALU : Majlis Amanah Rakyat (Mara) will implement a number of initiatives including opening its own bank.

Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said he would hold a meeting with Bank Negara Malaysia on the matter.

"We have not decided on the name for the bank but we have done the preparations and planning," he said at a 'Solidariti Kegemilangan Mara Sabah' event here Monday night.

He said Mara would also set up its 'Universiti Majlis Amanah Rakyat

KUALA LUMPUR : The Trans-Pacific Partnership Agreement (TPPA) is not a trade agreement designed solely by the United States (US), said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.

Malaysia which is one of the member countries was also involved in formulating the draft for the international agreement which also involved 11 other countries, he said. 

"Malaysia is responsible for preparing the drafts for Chapter 6, 21 and 24 which are related to cooperation and

KUALA LUMPUR : The ringgit extended yesterday's gain to open higher against the US dollar today on the continued upward momentum in global oil prices, dealers said. 

At 9.05 am, the local unit strengthened to 4.3420/3500 from 4.3780/3870 against the greenback on Thursday.

The ringgit also traded higher against other major currencies. 

It rose slightly against the Singapore dollar to 3.0311/0388 from 3.0426/0506 on Thursday, and went up against the yen to 3.6887/6971 from 3.7460/7550. 


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