KUALA LUMPUR: Bank Negara Malaysia (BNM) has issued an Exposure Draft on Climate Risk Management and Scenario Analysis, which sets out the proposed requirements and guidance on climate risk management and scenario analysis. It said the proposed specific requirements and expectations are to ensure that financial institutions strengthen the management of financial risks stemming from climate change to enhance the resilience of the financial sector against climate-related risks and to facilitate an orderly transition to a low-carbon economy. "This exposure draft complements the Climate Change and Principle-based Taxonomy (CCPT), Value-based Intermediation Financing and Investment Impact Assessment Framework (VBIAF), as well as the VBIAF Sectoral Guides,” the central bank said on its website today. The central bank invites written feedback on the proposed requirements, including suggestions on areas to be clarified and alternative proposals that the Bank should consider. The exposure draft can be accessed at https://www.bnm.gov.my/documents/20124/938039/ED_Climate_Risk.pdf - BernamaArticle type: metered User Type: anonymous web User Status: Campaign ID: 46 Cxense type: free User access status: 3Join our Telegram channel to get our Evening Alerts and breaking news highlights

Responsible for ensuring reliable supply, TNB’s sustainability strategy delicately balances socioeconomic considerations and conservation of the environment. TNB’s Sustainability Pathway 2050, which was unveiled a few months ago, sets out the national electricity utility’s green ambitions. At its core, the pathway also sees to the future-proofing of TNB’s business. Through the Sustainability Pathway, TNB has set a target to achieve net-zero emissions by 2050. The Sustainability Pathway is also in sync with national sustainability goals.

SINGAPORE, Dec 26 (Bloomberg): Singapore confirmed a new cluster of Covid-19 cases linked to the omicron variant, warning that it expects to see the highly-transmissible strain spread in the community. The primary case in the confirmed cluster at The Vinyl Bar in the city was a passenger who flew in using Singapore’s quarantine-free vaccinated travel lane on Dec. 14. The confirmed cases and their close contacts will be placed in quarantine. Singapore has confirmed a total of 448 cases linked to the omicron variant, of which 369 are imported cases. "It is a matter of time before the omicron variant spreads in our community,” the ministry said in a statement.

The current chip shortage situation has been described by industry observers as one of the worst to hit the E&E industry. He envisaged that the current chip shortage crisis will continue into 2022 and set to normalise only by year-end. The group is built to order with about four to eight weeks lead time. The figure fluctuated, reflecting the global chip shortage situation, added Nambiar. He also pointed out that many E&E companies were expecting the chip shortage to impact their revenues by at least 10% in 2021.

It is powering ahead with its Hybrid Electric technology to drive its sustainable motoring movement. Transforming the local automotive landscapeAs one of the pioneers of Hybrid Electric technology, Toyota has been at the forefront of developments and advancements. It revolutionised the segment in 1997 with the introduction of the first generation hybrid electric vehicles (HEVs). With Toyota making advances in its Hybrid Electric technology in Malaysia, it fuels the automaker’s ambition of achieving its target of net zero carbon emissions. Toyota’s Hybrid Electric technology is set to contribute to Malaysia’s ambition of becoming a hub for advanced technologies while reducing its carbon footprint.

It is precisely because Areca has always kept its clients’ interests at heart that it has survived for 15 years despite fierce competition in the industry. This means more of its clients’ money is invested in the market after deducting the sales charge. “We don’t want our people to push products to investors for short-term gain; we want them to stay with us. Last year, Areca introduced various equity funds that allowed its clients to capitalise on the stock market on the back of the pandemic. Areca and its clients also saved costs from not having to convert Malaysian ringgit to Singapore dollars.

KUALA LUMPUR (Dec 26): The Ministry of Finance (MoF) has reiterated the increase in funding for the Disaster Relief Facility (DRF) 2022 by Bank Negara Malaysia to RM500 million, from RM200 million. “Financing up to RM500,000 will be provided for SMEs, while micro-entrepreneurs can borrow up to RM75,000. The government will continue to monitor the situation and the MoF, in particular, will always be ready to provide adequate allocations to assist flood victims as soon as possible. Flood victims can apply by filling in the application form online through BSN’s official website, www.bsn.com.my. Read also:BSN’s interest-free personal loan increased up to RM10,000 for flood victimsGovt relaxes procurement method to deal with flood damage, says MoF

KUALA LUMPUR (Dec 26): The government has agreed to relax the procurement method for flood recovery efforts this year, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said. He said an initial allocation of RM100 million had been provided for post-flood recovery efforts, including cleaning and repairing housing areas and public infrastructure. "To expedite and facilitate the implementation of post-flood recovery activities, the Ministry of Finance (MoF) on Dec 21, 2021 issued guidelines on the relaxation of procurement method for repair works on infrastructure and public facilities damaged by floods," he said in a statement on Sunday (Dec 26). The MoF, through an updated report, shared some provisions and additional measures that have been taken by the government to address the impact of the floods this year. Read also:BSN’s interest-free personal loan increased up to RM10,000 for flood victimsBNM’s disaster relief facility increased to RM500 mil for flood-hit MSMEs, says MoF

PETALING JAYA: The MySejahtera app has been updated with a new function called MySejahtera Trace (MySJ Trace). The add-on feature, using Bluetooth technology, will allow easier close contact tracing with those who test positive for Covid-19. To ensure the effectiveness of the feature, users are required to activate their Bluetooth on their devices at all times. This will not take place if no approval was given by the individual and any close contact tracing will be done manually. Users are advised to update their MySejahtera app to activate the MySJ Trace feature, which can be accessed as early as today, depending on the user's device.

Affected residents took to various platforms to capture their plight and desperation while stuck on the rooftop of their submerged homes. As darkness fell, their worries turned to desperation as many of us in the media collectively sought ways to rescue them. I called up an official of the Selangor state government and was told about the “shortage of assets” of the authorities. That these volunteers could react faster probably angered most Malaysians over the disorganised, if not incompetent, operations of the various government agencies. The best part of it was the clear audio of the residents making their cynical remarks on these politicians.

A total of 957 Christmas Day flights, including domestic flights and those into or out of the country, were canceled, up from 690 on Christmas Eve, according to a running tally on flight-tracking website FlightAware.com. United Airlines canceled 230 flights while American Airlines called off 90 flights, representatives for the companies said in separate statements. A spokesperson for Southwest Airlines said there were no issues to report with the carrier's flights on Saturday. Ahead of the Christmas holiday, Americans scrambled for COVID-19 tests and many went ahead with their travel plans. U.S. officials have said that people who are fully vaccinated should feel comfortable proceeding with holiday travel.

PETALING JAYA: Datuk Seri Tuan Ibrahim Tuan Man has landed in hot water after claiming that the public did not take weather forecasts seriously following the recent floods. Berita Harian on Friday (Dec 24) reported Tuan Ibrahim saying that the public does not take weather forecasts and warnings seriously with many taking the warnings for granted as they thought floods only occur in the East Coast region of the peninsula. Before the great flood took place, not one weather forecast or advise was given through the SMS," he added. Shahril Nizam commented on Facebook saying that he agreed with what the minister was stressing, saying that sometimes, people tend to overlook matters relating to weather forecasts. "My family and I managed to exit Pahang in time as we were following the weather news continuously for several days," he said.

(Dec 25): Chinese question-and-answer (Q&A) website Zhihu Inc, which went public in the US in March this year, is said to be considering another initial public offering (IPO) in Hong Kong, local media the Paper reported on Saturday (Dec 25). The Beijing-based company plans to submit documents for its share offerings in Hong Kong in January, the Paper reported, citing unidentified people. Zhihu shares have tumbled 44% following the company’s IPO on the New York Stock Exchange in late March. Beijing is tightening scrutiny of domestic firms’ overseas share sales amid concern that these listings could pose national security threats if companies held sensitive data. China’s security watchdog on Friday said all Chinese businesses planning IPOs and additional share sales abroad would have to seek the approval of the China Securities Regulatory Commission.

(Dec 25): China’s central bank pledged greater support for the real economy, and said it will make monetary policy more forward-looking and targeted. There will be more “proactive” use of monetary policy tools, the People’s Bank of China (PBOC) said in a statement on Saturday (Dec 25). The monetary policy committee held a meeting on Friday that was chaired by governor Yi Gang, it said. The central bank also reiterated its aim to promote the property sector’s “healthy” growth and protect homebuyers’ rights, as well as work to better meet housing demand. Authorities have also signalled more fiscal support in early 2022 to drive investment and infrastructure building.

PETALING JAYA: A shorter interval for Covid-19 booster shots will be announced next week, says Health Minister Khairy Jamaluddin (pic). He said this will see the period between the second dose and the third dose of the Covid-19 vaccine being shortened. "We will announce this next week after finalising the details," he told a press conference on Saturday (Dec 25). The move to shorten the interval is similar to measures taken by other countries such as Germany and Australia, which are recommending shorter booster intervals in an attempt to stop the spread of new variants. Currently, those who received the Sinovac vaccine get their booster shots 90 days after being fully vaccinated while for Pfizer and AstraZeneca recipients, they are recommended to get a third dose 180 days after the second dose.