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News in brief: May 18, 2022

18/05/2022 08:57 PM

AVANADE, a global information technology services provider, today officially launched its first Digital Innovation Studio in Malaysia, which houses a multi-disciplinary team of designers, developers, engineers, and product managers focused on delivering enterprise-scale projects for the country's key industries.

In a statement, it said the studio, located in the Tun Razak Exchange, Kuala Lumpur, will provide physical and digital spaces for companies to find inspiration, co-create new ideas, and test the latest technology from proof-of-concept and prototype to market launch and scale.

"This investment underscores our commitment to developing local talent as well as supporting the country’s digital economy aspiration,” said Avanade Southeast Asia managing director Bhavya Kapoor.



STANDARD CHARTERED MALAYSIA is raising its base rate and base lending rate by 25 basis points to 2.52 per cent and 5.7 per cent, respectively, beginning May 19, in response to the Monetary Policy Committee's decision to increase the Overnight Policy Rate (OPR) to two per cent.

According to the bank, it will also apply the rate adjustment of 0.25 per cent to its fixed deposits interest and Term Deposits-i profit rates across all tenors.

In addition, it will increase its Islamic base rate and base financing rate by 25 basis points to 2.52 per cent and 5.7 per cent per annum, respectively.



AMINVEST, the brand name for the funds management business of AmFunds Management Bhd and AmIslamic Funds Management Sdn Bhd, has been named the Best Bond Fund Family Group Over Three Years for the third consecutive year at the Refinitiv Lipper Fund Awards Malaysia 2022.

In addition, AmInvest’s AmDynamic Bond, which seeks to optimise risk-adjusted returns for investors, swept all three Best Bond MYR Fund’s individual award categories.

“AmDynamic Bond recorded a total return of 14.3 per cent, 28.5 per cent and 59.4 per cent over periods of three years, five years and 10 years, respectively, as at March 31, 2022,” AmInvest said in a statement today.



SHOPEE, a leading e-commerce platform in Southeast Asia and Taiwan, said first-time users made one in six Shopee orders in 2021 and the number of sellers outside of big cities grew 70 per cent from the previous year.

In a statement, it said over 1,000 local sellers on its platform exceeded US$100,000 (RM439,450) in sales during the three days of its year-end festivals -- on Sept 9, Nov 11, and Dec 12.

The company said it has supported small local businesses on its platform by developing new tools and features, such as increasing exposure of local sellers through the #ShopeeSapotLokal initiative in order to expand their customer base.

“Shopee’s new feature, ShopeePay Near Me, has brought users to discover deals for offline merchants around them creating five million in-store transactions for partners,” it added.



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