Tag Archives for " Malaysia "

Malaysian Franchise Act Simplifies Entrance To Market

Kuala Lumpur, Malaysia – Any U.S. company seeking to sell franchises in Malaysia must write a letter requesting approval from the Registrar of Franchise Ministry of Entrepreneur Development, Malaysia, according to Mahadi Mohd Ibrahim, ministry undersecretary.

The letter must include a statement of the company’s intent to sell a franchise in Malaysia, as well as information on the products, the company and the prospective franchisee. The ministry will reply within seven days after receiving the letter. No request has been rejected since the act was passed.

“This is a significant development for franchise companies that want to tap the Malaysian market,” said Marcel Portmann, International Franchise Association (IFA) vice president of emerging markets and global development. “IFA began discussions in 1999 with Malaysian officials on behalf of our members for simplification of the registration process, and those efforts have paid off with positive results.”

Prior to clarification of the act, U.S. companies wishing to sell franchises in Malaysia were required to submit a disclosure document, the franchise agreement, the operation manual, the training manual, the company’s latest audited financial statements and auditor’s report, and any additional information required by the registrar.

“The registration process was extremely complex and deterred franchise companies from exploring the Malaysian market,” Portmann said. “Now there is a whole section of the global market open to IFA members.” –IFA Insider

-ENTREPRENEUR.COM

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Bursa Malaysia trails behind key Asian markets

KUALA LUMPUR: Malaysian equities trailed behind the key Asian markets at midday on Monday with Petronas Chemicals the main drag on the FBM KLCI while the trading value of total stocks declined, reflecting the poorer buying quality.

However, a rebound in crude oil prices could provide some support to the oil and gas stocks after Saudi Arabia and Russia have agreed to extend crude oil output cuts until March 2018 in their latest effort to rebalance the global crude market.

The FBM KLCI fell 2.2 points or 0.12% to 1,773.67. Turnover was 2.05 billion shares valued at RM1.12bil. There were 364 gainers, 444 losers and 377 counters unchanged.

The ringgit rose against the US dollar but slipped against the other key currencies. It rose 0.26% to 4.3345 from the previous close of 4.3457 but weakened against the pound sterling to 5.5921 from 5.5807; slipped against the Singapore dollar to 3.0891 from 3.0867 and was lower against the euro at 4.7368 from 4.7199.

US light crude oil jumped 77 cents to US$48.61 and Brent gained 78 cents to US$51.62.

Refiner Hengyuan gained 38 sen to RM4.79 with 1.39 million shares done while Petron was flat at RM8.62. Petronas Dagangan added six sen to RM24.06.

Petronas Chemicals fell 11 sen to RM7.12 and erased 1.44 points from the KLCI while Petronas Gas shed two sen to RM18.58.

Among the banks, AmBank fell eight sen to RM5.44, RHB Bank six sen to RM5.48, CIMB she done sen to RM5.94 while Public Bank and Maybank were flat at RM19.98 and RM9.38.

Crude palm oil for third-month delivery rose RM18 to 2,669 per tonne. IOI Corp lost three se to RM4.61, KL Kepong and Sime were flat at RM24.92 and RM9.33 while PPB Group rose four sen to RM17.10.

F&N was the top performer, up 44 sen to RM25.12 and Ajinomoto gained 14 sen to RM19.86 but BAT fell 56 sen to RM45.64 and Dutch Lady lost 26 sen to RM58.

Poultry company CAB Cakaran lost 17 sen to RM2.77 and the warrants were down 15 sen to RM2.17. However, CCK Consolidated added 10 sen to 84.5 sen after CIMB Equities initiate3d coverage of the company.

As for semicon makers, Globetronics gained 14 sen to RM5.90.

Among the key regional markets,

Japan’s Nikkei 225 fell 0.09% to 19,866.04;

Hong Kong’s Hang Seng Index rose 0.58% to 25,301.50;

CSI 300 gained 0.48% to 3,401.53;

Shanghai’s Composite Index 0.28% to 3,092.28;

Hang Seng China Enterprise jumped 1.23% to 10,409.63;

Taiwan’s Taiex added 0.16% to 10,002.64;

South Korea’s Kospi gained 0.14% to 2,289.15; and

Singapore’s Straits Times Index advanced 0.36% to 3,267.02.

Spot gold  rose US$1.98 to US$1,203.41.

-THE STAR

 

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Bursa Malaysia, Shanghai Stock Exchange ink MoU to further strengthen cooperation

KUALA LUMPUR, May 14, 2017: Bursa Malaysia Bhd has signed a memorandum of understanding (MoU) with the Shanghai Stock Exchange to explore potential ways for the two exchanges to improve their visibility and accessibility to market participants in Malaysia and China.

Bursa Malaysia in a statement here today said this MoU would further strengthen the already strong cooperation between both exchanges.

China remains an important market in the region, if not globally, and there were many Chinese investors looking for investing opportunities beyond China, particularly in Asean countries, said Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan.

“We, in Bursa Malaysia, have a lot to offer to this group of investors with our various innovative products and services, including our diverse Syariah-compliant offerings, which are ideal for Chinese investors looking for something different,” he said.

Both exchanges will also explore opportunities presented by China’s Belt and Road Initiative (BRI).

“Already one of Malaysia’s largest trading partners with bilateral trade reaching almost RM100 billion, the potential for further growth between Malaysia and China under the B&R Initiative is expected to be big,” said Tajuddin.

Under the MoU, Bursa Malaysia and the Shanghai Stock Exchange will also closely collaborate to address structural issues that may impede market accessibility, in addition to improving information flow between the two markets.

– BERNAMA

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