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Airwallex Launches Yield In Singapore, Unlocking Smarter Returns After MAS Licence Approval

Airwallex Launches Yield In Singapore, Unlocking Smarter Returns After MAS Licence Approval

Barnama7 days ago
SINGAPORE, July 29 (Bernama) -- Airwallex, a leading global fintech platform, today announced that its Singapore entity, Airwallex Capital (Singapore) Pte Ltd, has been granted a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS). With this licence, Airwallex can now offer regulated investment solutions and custodial services to businesses in Singapore through its Airwallex Yield product.
Airwallex Yield is an investment fund management service that allows businesses to earn competitive returns on surplus funds held within their business¹.
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Sultan Ibrahim begins historic state visit to Russia from August 5
Sultan Ibrahim begins historic state visit to Russia from August 5

The Sun

time4 minutes ago

  • The Sun

Sultan Ibrahim begins historic state visit to Russia from August 5

MOSCOW: The Russian capital is prepared to welcome His Majesty Sultan Ibrahim, King of Malaysia, as he begins his first state visit to Russia from August 5 to 10. The visit, at the invitation of President Vladimir Putin, marks a historic milestone in Malaysia-Russia relations since diplomatic ties were established in 1967. Malaysian Ambassador to Russia Datuk Cheong Loon Lai shared that Sultan Ibrahim looks forward to productive discussions with President Putin, particularly on mutual interests. 'His Majesty hopes this meeting will open a new chapter in bilateral relations,' Cheong told Bernama. The King has long admired Russia's historical and technological achievements, having fostered trade and investment ties during his reign as Sultan of Johor. 'His Majesty shares President Putin's passion for horse riding, among other interests,' Cheong added. Two key locations in Moscow—the Russian Automotive Technology Development Center (NAMI) and the Tochka Kipeniya Technology and Innovation Center—are set to host Sultan Ibrahim. At NAMI, the King will examine advancements in automotive research and development, reflecting his personal interest in the industry. Tochka Kipeniya's visit will allow Malaysia to explore Russian innovations in AI-driven drone and robotics technology, with applications in security, defence, and environmental projects. A briefing session at the Kremlin, where Sultan Ibrahim will meet President Putin, was attended by senior Malaysian officials, including Chief of Government Ceremonies Datuk Rozainor Ramli and Grand Chamberlain of Istana Negara Datuk Azuan Effendy Zairakithnaini. Sultan Ibrahim departed from Subang Air Base at 8.55 am (Malaysian time) and is expected to arrive in Moscow on Tuesday. Following his engagements in the capital, he will proceed to Kazan from August 8 to 10. Ascending the throne as Malaysia's 17th Yang di-Pertuan Agong on January 31, 2024, Sultan Ibrahim's visit underscores the growing diplomatic and technological collaboration between Malaysia and Russia.

Moscow ready to welcome arrival of Sultan Ibrahim for state visit to Russia
Moscow ready to welcome arrival of Sultan Ibrahim for state visit to Russia

New Straits Times

time4 minutes ago

  • New Straits Times

Moscow ready to welcome arrival of Sultan Ibrahim for state visit to Russia

MOSCOW: Moscow is ready to welcome the arrival of His Majesty, Sultan Ibrahim, King of Malaysia who will begin his maiden state visit to Russia from tomorrow until Aug 10. Malaysian ambassador to Russia Datuk Cheong Loon Lai said Sultan Ibrahim expressed hope that the meeting with Russian President Vladimir Putin on Wednesday could open a new chapter in Malaysia-Russia bilateral relations. "His Majesty also expressed hope that the two leaders can hold productive discussions, especially on matters of mutual interest," he told Bernama here. Cheong said Sultan Ibrahim also admired the historical and technological values in Russia, and had even established many interactions with the country in the fields of trade and investment since His Majesty's reign as the Sultan of Johor. "His Majesty also shares the same interests as President Putin, such as horse riding," he said. This visit at the invitation of President Putin is considered historic and meaningful because it is the first state visit by a Malaysian Head of State to Russia since the establishment of diplomatic relations in 1967. Two locations for the visit in Moscow, namely the Russian Automotive Technology Development Center (NAMI) and the Tochka Kipeniya Technology and Innovation Centre, are also ready to welcome Sultan Ibrahim's arrival. "His Majesty will visit NAMI to inspect and explore Russian automotive technology, particularly in the field of research and development. "This visit provides an opportunity for His Majesty to see first-hand the advancement of Russian technology given His Majesty's deep interest in the automotive industry," said Cheong. The visit to Tochka Kipeniya, he said, also provides an opportunity for Malaysia to explore innovative Russian solutions in the field of drone and robotics development through artificial intelligence applications for public use, security, defence, environment, space projects and biodrones. Earlier, Cheong attended a briefing session on the national celebration event at the Kremlin, the location of Sultan Ibrahim's official meeting with President Putin. Also present at the session were Foreign Minister head of protocol Datuk Yubazlan Yusof, chief of government ceremonies, Prime Minister's Department, Datuk Rozainor Ramli and the Grand Chamberlain of Istana Negara Datuk Azuan Effendy Zairakithnaini. Sultan Ibrahim departed from the Royal Malaysian Air Force base in Subang at 8.55am (Malaysian time) and is scheduled to arrive here on Tuesday. After Moscow, His Majesty is scheduled to travel to Kazan from Aug 8 to 10.

What is so special about tourism investment zones?
What is so special about tourism investment zones?

Focus Malaysia

timean hour ago

  • Focus Malaysia

What is so special about tourism investment zones?

LAST Thursday, Prime Minister Datuk Seri Anwar Ibrahim tabled in Parliament the 13th Malaysia Plan (13MP), with RM611 bil earmarked to be spent from 2026 to 2030. What caught my eye was the heading of a Bernama report 'Malaysia tourism growth under 13MP with new investment zones'. Those who have attended the Travel and Tours Enhancement Course (TTEC), rolled out after I have conducted the Training-Of-Trainers in February 2022, may be able to recall that one of the six transformation strategies in the National Tourism Policy of 2020-2030 is to create 'Special Tourism Investment Zones'. Undoubtedly, the many grand master plans unveiled by the federal government over the years have always been world-class, but not so when it comes to implementation and execution. By the end of this year, six years would have elapsed in the 11-year National Tourism Policy. And now, the narrative on STIZs seems to have shifted with the latest announcement that they will be established from next year, and four states have been identified viz. Negri Sembilan, Melaka, Johor and Sarawak for preserving heritage sites and enhancing rural homestays. According to Anwar, these zones will be the catalyst for new tourism products based on artistic, cultural, and heritage assets, as well as environmental areas like the Sungai Batu archeological site, the Lenggong Valley, and the Niah Caves which are recognised by UNESCO. He added that homestays will be upgraded to spur rural economies, aligning with Visit Malaysia 2026 preparations. Additionally, the Kuala Lumpur Heritage Initiative will restore landmarks such as the Sultan Abdul Samad Building and Merdeka Square, blending modernity with cultural preservation. When conducting TTEC from 2022 to 2024, I informed participants that special tourism investment zones have yet to be established. But their potential will be immense if modelled after free trade zones (FTZs), such as those in Sungai Way and Ulu Klang in Selangor. FTZs were created after a huge piece of land was allocated and many factories built. Before commencement of manufacturing, the entire area is fenced up and the customs will ensure that materials are brought in from entry points and goods sent out to exit points directly without duty. Hence, I imagined that new zones will be created for STIZs with incentives to attract substantial investments on new tourism goods and services. But from the recent announcement, STIZs will now be used as the banner to rehash, upgrade or revitalise existing tourism products. When STIZ was first proclaimed in 2019, four areas were identified for pilot projects, specifically in Langkawi, Putrajaya-Sepang, Port Dickson and Tuaran-Kota Belud. Incentives such as tax reduction, grants, and infrastructure development were still in the works. That year, Prime Minister Tun Dr Mahathir Mohamad spoke at the World Tourism Conference in Kuala Lumpur that the STIZ will focus on infrastructure and technology-based investments. The aim was to stimulate and develop new and alternative tourism areas and products. Since then, the STIZ has not progressed beyond vision and mission statements to pragmatic ideas and concrete actions. But the latest announcement has won praises from various tourism industry leaders, either afraid of offending the government or being left out in future dialogues. One of the most effective new ways to develop and promote international and domestic tourism is to set up one-stop centres in cities and major towns all over the country. These tourism centres are to assemble all the best local foods, goods and services under one roof, making each one a unique experience for visitors. They can be a massive shed using the ground floor only or multi-stories like shopping centres. Success is assured if they are professionally managed like commercial malls. But they will fail if operated like government-built food courts where vendors are given priority over customers. The foods, goods and services offered should not be limited to halal only as they must also cater to non-Muslim visitors. If such one-stop tourism centres offer a great variety of local specialities, visitors would be happy to spend many hours shopping, dining and being entertained. Since 2018, I have written numerous published articles on my concept of one-stop tourism centres. Essentially, they require the help of the federal, state and local governments to provide the land and facilitate, and the private sector to build and operate, efficiently and profitably. The catchy name of Special Tourism Investment Zone (STIZ) ought to be used for developing and offering new tourism products, such as one-stop centres, which can become a must-visit in every city and major town. STIZ should not be used to rebrand or hype up long existing products. ‒ Aug 4, 2025 YS Chan is master trainer for Mesra Malaysia and Travel and Tours Enhancement Course and an Asean Tourism Master Trainer. He is also a tourism and transport business consultant. The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia. Main image: Bernama

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