22 April, 2010

Illegal deposit-taking probe on Dencomm

Illegal deposit-taking probe on Dencomm
The StarBiz Online Thursday April 22, 2010

PETALING JAYA: Bank Negara has commenced investigations on Dencomm Sales & Services Sdn Bhd for alleged illegal deposit taking and money laundering activities. The central bank conducted a raid at the firm’s premises in Bandar Penawar, Kota Tinggi Johor yesterday following complaints from members of the public.

“Relevant assets and documents of the company were seized for the purpose of investigation,” Bank Negara said in a statement. Bank Negara advised members of the public to be cautious of deposit taking and investment schemes offered through various channels such as the Internet, phone calls or seminars by parties not liccensed, approved or authorised by the relevant authorities.

The activities are in breach of subsection 25(1) Banking and Financial Institutions Act 1989 (BAFIA) and subsection 4(1) of Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) respectively. Subsection 25 (1) of BAFIA 1989 prohibits any person from receiving, taking, or accepting deposits without having a valid licence, whereas subsection 4(1) of AMLATFA 2001 prohibits any person from engaging in, or attempting to engage in, or abetting the commission of money laundering activities.

In February, the central bank also investigated Semangat Teknologi Gagah Sdn Bhd (STG) and its related companies for suspected illegal deposit taking. The raids on STG and its related companies were carried out on Feb 4 at their premises in Kuala Lumpur and Selangor, also following complaints from the public.

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15 April, 2010

Sumatra maid agencies mull lowering fees

Sumatra maid agencies mull lowering fees
The StarOnline,Thursday April 15, 2010

MEDAN: Maid agencies in Sumatera will be meeting on Saturday to discuss lowering the cost of sending Indonesian maids to Malaysia. A spokesman for the agencies, Asa Binsar, said the cost could be less if the maids were sourced from Sumatera.

“However, if we have to source the maids from Java, there will not be much difference in terms of cost,” he told Bernama yesterday. He said this after the representatives of 35 Sumatran maid agencies had a meeting with Malaysian ambasador to Indonesia Datuk Syed Munshe Afdzaruddin Syed Hassan at the Malaysian Consul-General’s Office here.

Also present was Malaysia’s Consul-General here Norlin Othman. Presently, it costs up to RM8,000 to hire an Indonesian maid, which has become a bone of contention between the two countries who are currently in talks to draw up a memorandum to iron out the issue.

03 April, 2010

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01 April, 2010

Malaysia mulls perks for palm oil millers to be green IPPs

Malaysia mulls perks for palm oil millers to be green IPPs
Btimes 2010/01/26

The Malaysian government is carrying out a comprehensive study to help palm oil millers reduce their carbon footprint and at the same time become green independent power producers.

THE government may offer specific incentives for palm oil millers to recycle waste to generate renewable energy and contribute to the national power grid, said Plantation Industries and Commodities Minister Tan Sri Bernard Dompok.

"We're carrying out a comprehensive study to help palm oil millers reduce their carbon footprint and at the same time become green independent power producers (GIPPs)," he told reporters after touring Bell Eco Power Sdn Bhd's biogas power plant in Batu Pahat, Johor yesterday.

"This will be in line with the country's overall policy to reduce dependence on fossil fuel. By 2020, we target annual usage of renewable energy to 2,000 megawatts (MW) from just 50MW now."

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