Malaysians are planning to spend nine per cent more this year on Lunar New Year festivities, according to the annual United Overseas Bank (Malaysia) Bhd (UOB Malaysia) Lunar New Year Survey.
Of their average Lunar New Year budget of RM4,201 (up from RM3,846 in 2016), respondents said they will allocate RM1,008 to food, an increase of 14 per cent over last year. This is despite the higher cost of food this year. Forty-three per cent of this amount will go towards celebrating a traditional reunion dinner with loved ones.
Technology Park Malaysia Corporation Sdn Bhd (TPM) and Daegu Technopark of South Korea signed a Memorandum of Understanding (MoU) to collaborate through exchanges and cooperation towards contributing to both regional industry development and business growth through the transfer and commercialisation of technology.
The collaborative effort is set to spur greater cooperation in mutually creating win-win smart partnerships between South Korean and Malaysian startups and enterprises. It would also provide both parties to jointly develop strategic co-incubator programmes and provide their incubatees the opportunity to explore new business and investments opportunities in the global arena.