Search Results for: Malaysia

CONSULTATIONS are being assessed in Australia to develop a National Standard for Environmental Risk Management of Industrial Chemicals, which will include coatings and their chemical ingredients, Australia’s department of agriculture, water and the environment has said in a note. The national standard, for which consultations were to end in February, is being designed to ensure that potentially harmful high-risk chemicals are subject to appropriate and consistent environmental controls across the nation.…

THE MALAYSIAN government has issued a Domestic Systemically Important Banks (D-SIB) Framework, which tells financial institutions of importance to Malaysia’s wider economy to hold minimum levels of reserves to protect themselves against troubled times. Mandatory ‘higher loss absorbency’ (HLA) requirements for listed systemic banks, ranging between 0.5% to 1.0% of risk-weighted assets, will come into force from January 31, 2021.…

Airbus is to pay out EUR3.6 billion (USD4 billion) under a trio of deferred prosecution agreements (DPAs) with British, French and United States authorities that were simultaneously agreed by national courts January 31 as part of a global resolution over bribes to clinch civil and military aircraft sales.…

HONG Kong has signed an avoidance of double taxation agreement with its neighbour Macao, designed to boost trade and investment in the Guangdong-Hong Kong-Macao Greater Bay Area of southern China. The deal will ensure that any Macao tax paid by Hong Kong residents earning income from Macao will be a tax credit in Hong Kong and vice versa for Macao residents.…

The US-China trade war that has been hindering commerce since 2018 has hit the Chinese clothing and textile export sector severely, but companies that have invested in manufacturing sites outside China have been better protected, Esquel CEO John Cheh has told just-style.…

THE EUROPEAN Parliament has called for a more robust approach to defend European honey production, as bee numbers continue to fall. In a motion supported almost unanimously, the EP’s environment committee has called for the European Union (EU) Common Agricultural Policy (CAP) – which is now under review – to include active steps on reducing pesticide use, which MEPs blame for honey bee deaths.…

A queue formed at the L’Oréal stand at November’s China International Import Expo fair, in Shanghai: the French firm had set up photo opportunities to appeal the ‘Da ka’ set – Chinese slang referring to generation of selfie-taking youths who seemingly live to photograph themselves at important landmarks.…

KEY textile manufacturing countries in southeast Asia are investing in new machinery to upgrade their textile technology, boosting backward linkages as they seek to strengthen and update local supply chains, international trade data shows. While that level of investment in imports seems to have declined in 2018, key textile manufacturing Association of Southeast Asian Nations (ASEAN) bloc countries have been importing millions of dollars of new machinery, helping them make the most of trade deals that can insist in local fabric, yarn and fibre sourcing.…

Data by the Asia Nonwoven Fabrics Association (ANFA) shows that nonwovens production in Asia increased by a robust 6.5% year-on-year in 2018, to 5.6 million tonnes. China-based manufacturers were responsible for the bulk of this output, producing 4 million tonnes. However, but India-based production increased at faster pace, at 15.9% up, year-on-year.…

THE INLAND Revenue Authority of Singapore (IRAS) has for the first time used powers of arrest, in October and November raids, holding 10 suspected members of a crime syndicate, suspected of operating a GST carousel fraud. Chains of sales and purchases have ended in goods disappearing or being exported, with dishonest participants claiming input tax for GST, which is ultimately never paid to the government.…