Future fair: (From left) Tan, Gandhi and Goi show the future plan for a bigger-scale MIFF in 2018 during the MIFF 2016 pre-show press conference in Kuala Lumpur. Malaysia will stand to benefit from the Trans-Pacific Partnership Agreement (TPPA), as there would be fewer barriers for the export of Malaysian-made furniture to the United States, said United Business Media (M) Sdn Bhd (UBM) managing director M Gandhi. “The good thing about the TPPA is that it is not in conflict with the other free trade agreements (FTAs). “It is an addition to what we already have. “One of the biggest buyers of Malaysian furniture is the US, and it is part of the TPPA. “In fact, most furniture exports are to countries that are a part of the TPPA “Besides that, one of our competitors is China, and China is not part of the TPPA. So, Malaysia will be more competitive in exporting to the TPPA countries,” added Gandhi. The upcoming Malaysian International Furniture Fair (MIFF) 2016, which is t
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| A bank needs between RM8,000 and RM10,000 a month to manage one ATM unit. |
BANGKOK: Malaysian Electronic Payment System Sdn Bhd (MEPS) plans to introduce ‘pool automated teller machine (ATM)’ services which is expected to offer cost efficiency for banks and their clients next year.
Managing director Zulkarnain Kassim said currently the interbank network provider was in discussion with several banks, which had shown keen interest in providing the service.
“What we have in mind is to provide free-of-charge interbank services, which means customers will no longer have to pay services charge if their banks subscribe to the scheme,” he told Bernama on the sidelines of the 2016 South-East Asia ATM Conference in Bangkok recently.
Citing interbank fund transfer services as an example, Zulkarnain said a customer had to pay RM0.50 per transaction.
“As for the banks, they will benefit from lower operating cost as it is quite costly to maintain and manage ATM units,” he said.
Zulkarnain said a bank needed between RM8,000 and RM10,000 a month to manage one ATM unit.
“Sometimes, we see several ATM units, representing different banks, at one location. It is high time the industry introduced a ‘neutral ATM’ which serves several banks,” he added.
On discussions with interested banks, Zulkarnain said many considered using the pool ATM at places where there is low passerby volume and maintain their own unit at strategic locations with high-passerby traffic.
“But, we’ll make sure there will be a fair distribution of neutral ATMs in the country once the service is launched,” he added.
sources: TheStar, Bernama
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