Icertis And SAP Deepen Partnership To Accelerate Time To Value With AI-powered Contract Intelligence
Contracts are the foundation of every business relationship, establishing the rules of business for how enterprises buy, sell, and partner to drive global commerce. Icertis transforms traditionally static contracts into actionable business rules within the SAP user experience – enabling customers to drive revenue, control costs, mitigate risk, and ensure compliance by integrating structured contract data directly into core business processes.
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Borneo Post
an hour ago
- Borneo Post
Strengthen safety nets, don't dictate retirees' use of EPF savings, says social activist
Voon says any attempt to retroactively or unilaterally change withdrawal terms after contributors have met the required conditions undermines public trust in the system. – Bernama photo KUCHING (Aug 7): The government should focus on strengthening social safety nets, improving financial literacy and ensuring Employees Provident Fund (EPF) returns remain strong instead of controlling how retirees use their savings, said social activist Voon Shiak Ni. She said any attempt to retroactively or unilaterally change withdrawal terms after contributors have met the required conditions undermines public trust in the system. 'In light of this, public feedback is to urge the federal government to uphold the current withdrawal policy at age 55 without additional restrictions; refrain from introducing any new conditional withdrawal mechanisms for eligible retirees; and recognise that financial freedom in retirement is a personal right – not a government-controlled benefit. 'It is a fundamental principle that Malaysian EPF contributors are entitled to withdraw their savings in full upon reaching the age of 55 in accordance with existing EPF regulations. 'These funds represent the hard-earned savings of workers accumulated over decades, and the right to access them upon reaching retirement age must be respected and protected,' she said in a statement yesterday. Voon stressed that once members reach this milestone, it was no longer within the government's discretion to dictate how and when their savings should be accessed, and reiterated that the decision on how to manage their own retirement funds should rest fully with the account holders. 'EPF was never intended to be managed like a pension scheme, where funds are released monthly – it is a retirement savings fund, and contributors must retain the freedom and autonomy to make financial decisions based on their individual needs and circumstances.' She said the government must honour the rules and regulations of EPF contributions and commitment to protect the retirement rights of Malaysians. On the other hand, Labour Law Reform Coalition deputy president Andrew Lo said theoretically, the government's proposal was 'the way forward' as retirement income should be on a regular sustainable withdrawal instead of a lump sum. 'This will only work if the current inadequate retirement savings amongst majority of EPF contributors – current and future – is resolved, otherwise the monthly withdrawal or payout will be a pittance. 'It will also work if adequate monthly retirement withdrawal is about 40 per cent of pre-retirement income,' he said, adding pensions for civil servants were currently at 50 per cent of basic salary before retirement. Lo said the proposal might also work if retirement age was increased to at least 65 to enable workers to build up sufficient savings, reduce pension costs and boost labour productivity and improve fiscal and economic performance. 'On top of that, the government must introduce a universal basic pension which can be funded by the many welfare and handout schemes which are currently being implemented on ad hoc and at the whims of political convenience.' Meanwhile, it was reported that several leaders here opposed to proposed move to restrict EPF lump sum withdrawals, stating such a policy would deprive contributors of rightful access to their own savings. EPF said the proposal was still under review and in the interim, existing rules and withdrawal mechanisms remain unchanged. epf safety nets Voon Shiak Ni
The Star
3 hours ago
- The Star
InvestKL secures RM2.8bil committed investments in the first half
InvestKL CEO Datuk Muhammad Azmi Zulkifli. KUALA LUMPUR: Lead investment agency for Greater Kuala Lumpur (KL), InvestKL, has secured RM2.8bil in committed investments in the first half of 2025 (1H25), anchoring five new regional hubs in the area and creating 1,197 high-skilled job opportunities. InvestKL chief executive officer Datuk Muhammad Azmi Zulkifli said the investments demonstrated continued confidence in Malaysia's strong fundamentals and marked a milestone in enhancing the region's ease of doing business. 'As global companies adapt to evolving market conditions, including trade realignments and rising tariffs, Greater KL offers a future-ready ecosystem underpinned by robust infrastructure, world-class talent and proactive government support. 'We are also seeing strong momentum in artificial intelligence, digital, and technology-driven investments. It is testament to Malaysia's strategic focus on high-value, innovation-led activities that will ensure long-term competitiveness and economic resilience,' he said. In a statement, InvestKL said the achievement reinforced Greater KL's rise as a strategic destination for global companies investing in high-value, innovation-driven services, a key pillar in Malaysia's strategy for long-term economic resilience. It said the 1,197 new jobs spanned regional, specialist and support functions, with average executive salaries exceeding RM11,700 per month. It added that the new investments include sectors like information technology infrastructure, consumer healthcare, materials science, financial asset servicing and renewable energy. The hubs would serve as platforms for regional growth, advancing Malaysia's position in the global services value chain, it noted. 'This milestone brings InvestKL's cumulative achievements to over 150 global services hubs and 31,000 high-skilled jobs since inception. It aligns with the Madani Economic Framework, National Investment Aspirations and New Industrial Master Plan 2030,' it said. — Bernama
Barnama
8 hours ago
- Barnama
ACWA Power's Commitment Boosts Malaysia As Key Regional Energy Player
KUALA LUMPUR, Aug 6 (Bernama) -- ACWA Power's commitment to choose Malaysia to house its main hub in Southeast Asia has strengthened the country's position as a key player in regional sustainable energy and supports efforts toward a low-carbon economy, said Prime Minister Datuk Seri Anwar Ibrahim. Welcoming the world's largest water desalination company's decision to invest in clean energy infrastructure nationwide, Anwar said this is another positive development from the close cooperation between Malaysia and Saudi Arabia, especially following his meeting with the ACWA Power founder during the recent ASEAN-Gulf Cooperation Council (GCC) Summit. On May 27, ACWA Power signed a memorandum of understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to facilitate the implementation of strategic investment projects in clean energy infrastructure across Malaysia.
