33.8 C
Vientiane
Sunday, June 8, 2025
spot_img
Home Blog Page 1330

Cryptocurrencies landscape in Malaysia and Singapore – Octa expert analysis


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 5 August 2024 – The growth of financial technologies, including blockchains and cryptocurrencies, depends on how well the legal system can adapt. Globally, the legal status of cryptocurrencies remains ambiguous as most countries still need to establish comprehensive laws to govern them. However, only a few states explicitly prohibit crypto mining. While the global regulatory landscape continues to evolve, Malaysia and Singapore offer unique approaches to cryptocurrency supervision. In this article, the experts of Octa Broker take a closer look at the current status and prospects of crypto in these countries.

Octa

Popularity
Malaysia and Singapore both play a significant role in the Southeast Asian digital finance landscape. In 2023, Malaysia ranked among the top 30 countries for crypto adoption based on transaction volume, with its peer-to-peer (P2P) exchange trade volume placing it 40th globally. As for Singapore, it is currently a regional leader in cryptocurrency adoption, with 49% of its population aware of cryptocurrencies and 12% actively owning them. In 2023, the nation attracted $627 million in crypto funding, supported by a skilled workforce and favourable fiscal policies.

Platforms like Octa, a broker with globally recognised licences, are capitalising on the growing interest in crypto by offering low-cost 24/7 trading, including weekends, which makes it easier than ever for investors to dip their toes into the crypto waters.

Regulation and Future Prospects

Malaysia regulates digital assets through the Capital Markets & Services (Digital Currency and Digital Token) Order 2019. While cryptocurrencies are classified as securities, they are not recognised as legal tender by Bank Negara Malaysia (BNM), the country’s central bank. Companies involved with digital currencies or tokens are required to register with the local authority. The regulations also enable companies to raise funds through token issuance but require due diligence and compliance with anti-money laundering (AML) and anti-terrorism financing policies. ‘Despite these regulations, Malaysia’s legal framework still lacks transparency and consistency, posing risks for businesses trying to navigate the complex landscape. As crypto popularity rises, new policies may emerge’, said Kar Yong Ang, the Octa broker’s financial market analyst.

In contrast with its neighbour, Singapore already boasts a robust regulatory framework that enhances its status as a global financial centre. The Payment Services Act (PSA), introduced in 2019, serves as the primary legal framework governing digital payment tokens (DPTs). It mandates licenses for activities like operating exchanges and providing digital wallets. Additionally, the Securities and Futures Act (SFA) regulates DPTs that resemble capital market products, while the Commodity Trading Act applies to asset-backed DPTs, treating them as commodities. This comprehensive regulatory approach ensures a structured environment for cryptocurrency activities, fostering innovation while maintaining security. Singapore’s strong telecommunications infrastructure, highly skilled workforce, and favourable fiscal policies, such as the absence of capital gains tax, make it an attractive hub for digital innovation. A thriving community of startups, accelerators, and incubators foster innovation in the crypto sector. According to Statista, the country’s crypto market is projected to grow by 8.79% annually from 2024 to 2028, reaching $479.5 million in value by 2028. ‘The growth is supported by the Singaporean government’s proactive investments in blockchain technology, research, and fintech innovations that explore new blockchain applications’, noted Kar Yong Ang, the Octa broker’s financial market analyst.

As Malaysia and Singapore shape and hone their respective cryptocurrency regulatory policies, their strategies highlight different balances between innovation and security. Malaysia faces challenges in regulatory clarity, while Singapore strengthens its position as a crypto-friendly nation. The evolving landscape in these countries will shape the future of cryptocurrency adoption in Southeast Asia, providing valuable insights for other nations looking to embrace the digital revolution.
Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

Hong Kong, forging business opportunities with Vietnam


HONG KONG SAR – Media OutReach Newswire – 2 August 2024 – Hong Kong is going all out to strengthen business links with Vietnam and the wider Association of Southeast Asian Nations (ASEAN) region. A high-level delegation, led by John Lee, Chief Executive of the Hong Kong Special Administrative Region, is in Vietnam (31 July – 2 August, 2024), meeting top government and business leaders in Hanoi and Ho Chi Minh City and exploring new business opportunities.

Hong Kong’s Chief Executive, Mr John Lee (left), meets with the President of Vietnam, Mr To Lam (right).
Hong Kong’s Chief Executive, Mr John Lee (left), meets with the President of Vietnam, Mr To Lam (right).

During a meeting with the President of Vietnam, To Lam, Mr Lee highlighted that Hong Kong treasures its relations with Vietnam. He added that he looks forward to paving the way for new co-operation opportunities between the governments and business sectors of the two places through this visit.

In 2023, Vietnam was Hong Kong’s seventh-largest trading partner globally and second-largest among ASEAN member states.

Mr Lee also met Vietnam’s Deputy Prime Minister Tran Luu Quang in Hanoi, where they jointly witnessed the exchange of memoranda of understanding (MoUs) between government departments, enterprises and organisations of Hong Kong and Vietnam. The MoUs aim to promote closer cooperation in areas such as economic and trade, aviation services development, and financial and capital market development. A total of 30 MoUs were exchanged between Hong Kong and Vietnam during this visit to the country.

Mr Lee (left) meets with the Deputy Prime Minister of Vietnam Mr Tran Luu Quang (right).
Mr Lee (left) meets with the Deputy Prime Minister of Vietnam Mr Tran Luu Quang (right).

Mr Lee (first left) and Deputy Prime Minister of Vietnam Mr Tran Luu Quang (first right) witness the exchange of a memorandum of understanding in Hanoi.
Mr Lee (first left) and Deputy Prime Minister of Vietnam Mr Tran Luu Quang (first right) witness the exchange of a memorandum of understanding in Hanoi.

Mr Lee noted that Vietnam has experienced rapid economic development in recent years, while Hong Kong serves as an international financial, trade, shipping, logistics and professional services centre. As such, he encouraged more Vietnamese enterprises to leverage the city’s advantages to tap into both Mainland China and international markets.

“Hong Kong is an ideal place for listing and other fundraising activities and with quality provision of different financial, legal and professional services, it can be Vietnam’s premier business partner to tap foreign markets, particularly the Guangdong-Hong Kong-Macao Greater Bay Area (GBA),” Mr Lee said.

Hanoi-based NTQ Solutions, a leading information technology (IT) consulting, service and solutions company, is familiar with Hong Kong’s advantages. Since establishing operations in Hong Kong in 2021, NTQ Asia Pacific (formerly NTQ Hong Kong) has been upgraded to regional headquarters status, reflecting the city’s importance as a springboard to new opportunities in the GBA and across the Asia-Pacific region.

“As a part of our strategy to expand to the global market, Hong Kong is an ideal destination that helps us accelerate this goal,” said Johnny Chong, chief executive officer, NTQ Asia Pacific (APAC).

“Thanks to the city’s location at the heart of the GBA, companies with entities in Hong Kong will have the best opportunities to venture into one of the most dynamic financial centres and get connected to Mainland China, Taiwan, Macao, and APAC regions in a short flight time.”

Mr Chong identified the city’s key attractions, including geographic advantage within a four-hour flight from key ASEAN markets, dynamic tech innovation hub, and business-friendly environment with a simple tax system.

“We look forward to seeing more Vietnam tech companies venturing into Hong Kong,” said Mr Chong. “By standing together, we’ll be able to leverage each other’s competencies, strengthening Vietnam’s IT position in the regional markets.”
Hashtag: #hongkong #brandhongkong #asiasworldcity #ASEAN #vietnam #delegation #collaboration #business #exchange





Wechat: 香港 亚洲国际都会

The issuer is solely responsible for the content of this announcement.

Lao Students Bag 13 Medals at Singapore Math Olympiad

The students at Singapore for the competition (Photo: BrightPath)

For the first time, Lao students have made history by winning thirteen medals at the Singapore International Math Olympiad Challenge (SIMOC). Competing against 2,231 students from 35 countries and territories across grades 1 to 12, the Lao team won one Gold medal, six Silver medals, and six Bronze medals, along with three Honorable Mentions.

Attapeu Unveils Task Force to Combat Forest Land Encroachment

Attapeu Unveils Task Force to Combat Forest Land Encroachment
A decimated cassava field in Sanamxay district, Attapeu province (Photo credit: Vientiane Times)

Authorities in Attapeu Province have uncovered a case of forest land encroachment in Sanamxay district, where 5,860 hectares of forest land have been illegally cleared.

Laos Faces Sixth Consecutive Monthly Trade Deficit, Reaches USD 133 Million in June

Laos Faces Sixth Consecutive Monthly Trade Deficit, Reaches USD 133 Million in June
Laos mainly exports to China, Vietnam, Thailand, the United States (US), and Switzerland (Photo credit: Vientiane Times)

Laos experienced a trade deficit of USD 133 million in June, marking the sixth straight month of trade deficits in 2024. According to data released by the Trade Information Center (LTP), the total value of imports and exports reached USD 1.227 billion, a 10 percent increase from May.

World Bank Suggests Steep Alcohol Tax for Vietnam Amid Rising Health Concerns

World Bank Suggests Steep Alcohol Tax for Vietnam Amid Rising Health Concerns
Vietnamese people drinking beer (photo credit: Tuoi Tre News)

The World Bank has recommended that Vietnam adopt a 155 percent special consumption tax on alcoholic beverages, warning that the country’s rising alcohol-related deaths and illnesses are becoming a public health concern.

Brewing Up A Storm For International Coffee Month with Citadines

Embark on a Coffee Adventure Like Never Before with Exclusive Tour, Tastings, and Workshops at Citadines Properties in Singapore


SINGAPORE – Media OutReach Newswire – 2 August 2024 – The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), is inviting guests to embark on a captivating coffee adventure this October in celebration of International Coffee Month, with exclusive local Nanyang coffee roastery tour, engaging coffee workshops, and more across participating Citadines properties in Singapore.

Guests can experience a truly unique and unforgettable coffee experience by going for an exclusive local Nanyang coffee roastery tour that helps them deep dive into Singapore’s rich coffee culture where they can witness coffee roasting firsthand and uncover the roots of our beloved coffee-drinking traditions. This exclusive tour is a hidden gem available only to guests staying at Citadines.

But that’s just the beginning! Upon arrival at our Citadines properties, guests will receive a complimentary cold brew Kopi-O Kosong (Singapore’s version of Americano) and a Welcome Kopi Postcard filled with recipes and tips on navigating the local coffee scene. To add to the excitement, guests will receive our special Citadines For the Love of Coffee Limited Edition Welcome Kit, complete with coasters and a custom-designed Jute Bag. Plus, they get to enjoy a complimentary Kim’s Duet to-go cuppa every Tuesday morning and Thursday evening for the perfect pick-me-up or wind-down session.

For those unable to join the local Nanyang coffee roastery tour, we are bringing a taste of the experience to our participating Citadines properties with a mini-coffee exhibit showcasing the history of Singapore’s traditional coffee (known colloquially as kopi), the art of traditional kopi roasting, interactive sensory experiences, and insights into Robusta and Arabica beans. Guests can also participate in complimentary coffee workshops like DIY Coffee Scrub, How to Make Bullet Coffee, and traditional coffee appreciation sessions every Saturday at selected Citadines properties.

Join us this October at Citadines and immerse yourself in a world of coffee delights that are set to captivate your senses and elevate your stay to new heights. Booking starts from now till 30 September for stay between 1-31 October 2024 and enjoy additional 5% off with “Rediscover Singapore” offers rates. Terms and conditions apply.

For more information and to book your stay, visit: For the Love of Kopi | Discover ASR | English

For high resolution images: https://drive.google.com/drive/folders/1Ouw4IoFKCIJsLQc0uu4rmA1lMVRved8i?usp=sharing
Hashtag: #discoverasrsingapore #Ascott


The issuer is solely responsible for the content of this announcement.

About The Ascott Limited

Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with over 950 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

This year, Ascott marks 40 years in hospitality service with the launch of Ascott Unlimited, a full year campaign that will offer Unlimited Opportunities, Unlimited Choices, Unlimited Freedom, and Unlimited Good. Navigating a future of unlimited possibilities against a backdrop of global change and evolving perspectives of travel, Ascott Unlimited marks Ascott’s ambitions to break new ground, and springboard to its next chapter of growth as a global hospitality company. Find out more about Ascott Unlimited at .

For more information on Ascott and its sustainability programme, please visit . Alternatively, connect with us on , , and .

About CapitaLand Investment Limited

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 31 March 2024, CLI had S$134 billion of assets under management as well as S$100 billion of funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics, self-storage and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and commercial management, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for Scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

VinFast continues to expand with 15 new dealer stores in Indonesia


JAKARTA, INDONESIA – Media OutReach Newswire – 2 August 2024 – VinFast Auto showcases its rapid growth in the Indonesian market with the opening of 15 new dealer stores from July 31 to August 31, 2024. This expansion reaffirms VinFast’s commitment to providing high-quality, competitively-priced products and exceptional after-sales services to Indonesian consumers.

VinFast continues to open new dealership stores in Bandung, Indonesia.
VinFast continues to open new dealership stores in Bandung, Indonesia.

The new VinFast dealer stores are strategically located in major cities, including Jakarta, Bandung, Yogyakarta, Malang, Sidoarjo, Mojokerto, Surabaya, Bali, Batam, and Makassar. Customers at these locations will have the opportunity to experience and buy VinFast’s modern electric vehicles while enjoying professional consultation, dedicated customer service, and comprehensive after-sales support.

Mr. Temmy Wiradjaja, CEO of VinFast Indonesia, stated: “VinFast’s swift expansion in Indonesia clearly demonstrates the importance of this market to us. Designed to provide the best customer experience, VinFast dealer stores promise to support customers throughout their entire ownership journey, from learning about our products to making a purchase and enjoying after-sales services and warranties.”

Mr. Irawan Nurisman, Representative of VinFast Dealership Sumber Baru – Yogyakarta, shared: “We are proud to be among the next wave of dealers partnering with VinFast on this journey towards widespread electrified transportation. VinFast’s strong commitment to Indonesian customers throughout the vehicle ownership process has built trust with us and facilitated this partnership.

Currently, VinFast has officially launched two electric vehicle models, the VF 5 and VF e34, in Indonesia, covering the two most popular segments, A and C respectively. Both models come with attractive battery subscription policies, reducing ownership costs and making electric vehicles more accessible.

VinFast also offers an exceptional after-sales policy, including a 7-to-10-year warranty for the vehicle body, 8-to-10-year for the battery (for customers who purchase vehicles with batteries), and free maintenance and battery replacement if the battery’s charging capacity falls below 70% (for customers who opt for battery subscription).

Previously, VinFast officially broke ground on its electric vehicle assembly plant in Subang, West Java, launched two models in its diverse product range, and delivered the first electric cars to customers at the Gaikindo Indonesia International Auto Show (GIIAS) 2024. Along with today’s dealership expansion, these continuous advancements affirm VinFast’s commitment to accompanying customers, laying the foundation for its long-term presence in Indonesia and globally.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

About VinFast

VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play electric vehicle (“EV”) manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia.

Learn more at: