GEAR-uP: RM120 Billion Domestic Direct Investment boost from 6 GLICs

In a strategic move to bolster Malaysia’s structural reforms as envisioned in the Ekonomi MADANI framework, the Ministry of Finance (MOF) is spearheading a programme aimed at synergising efforts across Government-Linked Entities to catalyse growth in key economic sectors.

Known as GEAR-uP 💫💫💫

The first phase of the programme will see 6 leading Government-Linked Investment Companies (GLIC) collectively pledge to invest RM120 billion in domestic direct investments (DDI) over the next 5 years, on top of RM440 billion in public market investments under their steady state investment programmes.

BNM: Implementation of Co-Payment Requirements for Medical and Health Insurance and Takaful Products

Bank Negara Malaysia (BNM) wishes to clarify on recent commentaries related to the implementation of co-payment requirements for medical and health insurance and takaful (MHIT) products.

The Policy Document on Medical and Health Insurance/Takaful Business aims to promote more sustainable and affordable MHIT offerings, amid the continued increase in medical cost inflation. In 2023, Malaysia recorded medical cost inflation of 12.6%, which is significantly higher than the global average of 5.6%.

With effect from 1 September 2024, insurers and takaful operators (ITOs) must offer consumers an option to purchase MHIT products with a co-payment feature. 

Catcha Digital + Keluar Sekejap = KS Lagi

Catcha Digital Berhad (“Catcha Digital”), via its subsidiary, today entered into a Joint Venture Agreement with Khairy Jamaluddin (“KJ”) and Shahril Hamdan (“Shahril”), the founders of Keluar Sekejap Sdn Bhd (“Keluar Sekejap”) to co-found and form a new disruptive digital media business, KS Lagi.

This new business will combine the digital reach and strength of Catcha Digital with Keluar Sekejap, one of the new champions of the digital media and podcast space in Malaysia.

Catcha Digital intends to assume commercial and business responsibilities for the existing Keluar Sekejap’s business and KS Lagi.

Additionally, KS Lagi will create and distribute new media content across Catcha Digital’s existing network that reaches approximately 20 million Malaysians every month.

Keluar Sekejap is in rocket speed 🚀🚀🚀

Maybank: How to switch between individual and sole proprietor access on the MAE app?

Aiyo... Is it due to many complaints received earlier? This should be the way when implementing access from day one. You know lah, many people got multiple Maybank accounts (individual and sole proprietor).

Prior to this, Maybank required a person to have multiple devices because of the change.

No worries. Now Maybank already noted and below is the new feature to solve this issue.

The New Feature!

Telekom Malaysia + Singtel = Data Centre in Johor

TM DC Educity Sdn Bhd (wholly owned unit of TM) has entered into a joint venture agreement with Nxera (wholly owned unit of Singtel) to establish a a JV entity named ST Dynamo DC, which intend to build a platform of greenfield data centre facilities in Johor.

The two leading telecommunication and digital technology companies in Southeast Asia, are teaming up together, aiming to tap the high market demand of data centre services. 💫💫💫

As we all know, the demand is propelled by, among others, rapid digitalisation and increased adoption of emerging technologies such as cloud computing, AI and e-commerce.

Another data centre project?