By Rob Stummer | CEO Asia Pacific | SYSPRO
Industrial production in Malaysia dropped by 4.9 percent year-on-year in March 2020. This was the first decline in industrial output since December 2015, and the steepest since May 2011, as the economic impact of the COVID-19 pandemic took a huge toll on the sector, with manufacturing output tumbling (-4.2 percent vs 6.2 percent in February), mainly due to non-metallic mineral products, basic metal & fabricated metal products (-9.8 percent), electrical and electronic products (-5 percent), transport equipment & other manufactures (- 10.2 percent), and food, beverages & tobacco (-9.9 percent).
However, after hitting a record low in April 2020, a strong rise has been evident in the country’s Purchasing Managers’ Index (PMI) for May, indicating that the economic downturn may have bottomed out. In its 1 June 2020 report, IHS Markit said Malaysia’s manufacturing sector showed signs of approaching stabilisation midway through the second quarter, with rates of reduction in output, new orders and employment all easing considerably.
Subang Jaya, 23 June 2020 – Digi Telecommunications Sdn Bhd (Digi) today announced altHR, to help Malaysian companies digitalise HR processes and drive better employee empowerment and engagement.
altHR is a digital workforce management solution. Built with features fit for the new normal such as digital sales Kits, contactless time tracking, paperless leave and expense management, it aims to address the problem of digitalisation of company processes that is prevalent in small and medium enterprises (SMEs). The launch of altHR is also in line with Digi’s aim to help more Malaysian companies go digital and to cope better with the unforeseen challenges of the Covid-19 pandemic.
MALAYSIA – June 23, 2020 – Visa (NYSE: V) today announced a commitment to support 10 million small businesses across Asia Pacific in an effort to get local communities back to business in the wake of the COVID-19 pandemic. Visa is introducing a range of programs and solutions to help small and medium enterprises (SMEs) drive efficiency and sales by accepting and making payments digitally to meet increased demand for cashless payments – both online and in-store. Visa also formed the Visa Economic Empowerment Institute (VEEI) focused on economic and societal issues, including pandemic challenges SMEs face and closing racial and gender opportunity gaps.
The 10 million pledge is part of a global program that will see Visa supporting 50 million small businesses worldwide. Small businesses will play a vital role in helping communities recover – they account for more than half of global employment and are among the most affected by the pandemic. In Asia Pacific, SMEs account for more than 90 per cent of businesses and employ 50 per cent of the workforce.
