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Grab explores spinning off financial services business

SINGAPORE: Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter.

High value in health and social work services

PETALING JAYA: The health and social work services generated gross output value of RM20.2bil in 2017 compared with RM16.8bil in 2015, with the annual growth rate value of 9.5%, according to the Department of Statistics.

China services sector extends solid expansion in December

BEIJING: China's services sector extended its solid expansion in December, offering some cushion for the slowing economy, a private survey showed on Friday.

SC enhances standards for capital market services providers

KUALA LUMPUR: The Securities Commission is beefing up the rules for the capital market services providers with a registration framework, enhancing supervision of trustees to further protect investors’ assets and interest.

Exposure draft on CPD for financial services

KUALA LUMPUR: The Financial Services Professional Board (FSPB) has issued an exposure draft for continuing professional development (CPD) for the industry.

From Sept. 1 tax on services at 6%, sale of goods 10%

KUALA LUMPUR: The provision of services will be taxed at 6% under the reintroduced sales and services tax (SST), while the sale of goods will incur a 10% tax, said Finance Minister Lim Guan Eng.

Money services business seen growing 7% this year

KUALA LUMPUR: The money services business in Malaysia is expected to see about 7% growth in transaction volume, driven mainly by wholesale currency, said The Malaysian Association of Money Services Business (MAMSB).

US-China trade war could spill over into services

MELBOURNE: The US-China trade battle could spill over into services as China is running out of room to retaliate on goods, according to S&P Global Ratings.

Axiata picks heads for business services, info security

KUALA LUMPUR: Axiata Group Bhd has made two key appointments for its business services and also information security in line with its aspirations to build a leading digital company, beyond its core mobile business.

Grab plans to spin off financial services ops

HONG KONG: Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter.