KUALA LUMPUR, 23 November 2021 – CTOS IDGuard, Malaysia and Southeast Asia’s first application fraud bureau, has prevented confirmed fraudulent credit applications to the tune of RM28 million in the first 12 months of operation, with a further RM51 million in suspicious applications also flagged to partners. “We are making large strides in the battle against credit application fraud, and the increase in participating financial institutions only bolsters the effectiveness of CTOS IDGuard,” commented Dennis Martin, Group CEO of CTOS Digital Berhad, the holding company of CTOS Data Systems Sdn Bhd. As this grows even further in the coming months, CTOS IDGuard will be the most effective tool available to combat application fraud on the market. Powering the CTOS IDGuard fraud bureau is GBG’s industry leading fraud and financial crime prevention engine. For more information, visit www.ctoscredit.com.myIssued by : CTOS Data Systems Sdn BhdThrough : Continuum PR Sdn BhdABOUT CTOS DATA SYSTEMS SDN BHDCTOS, Malaysia’s largest private credit reporting agency, is a registered Credit Reporting Agency under the Credit Reporting Agencies Act 2010.

It has certainly been an annus horribilis or a year of great misfortune for the battered Thai economy. If there is a significant risk to the upbeat view on Thailand in 2022, it is that political turbulence could resurface. But as the sources of new growth in global demand shift more to general merchandise and away from IT goods, Thai exports should recover forcefully. Thailand has endured many setbacks in the past 20 years and its economic performance has taken a beating as a result. So long as the political frictions are contained, we could see the Thai economy delivering solid progress for the next few years.

KUALA LUMPUR (Dec 1): Malaysian manufacturers noted improved operating conditions for the second successive month in November. IHS Markit said both production levels and new orders expanded further, with the former increasing at the fastest pace for seven months. It said as demand improved, firms noted that pressure on capacity also intensified, which led to employment levels returning to expansion territory, albeit only marginally, for the first time since March. The headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI) — a composite single-figure indicator of manufacturing performance — edged up from 52.2 in October to 52.3 in November. Some firms noted that while delays had hindered restocking efforts, additional stockpiles were procured to protect against disruption.

KUALA LUMPUR: The local company embroiled in allegations of forced labour by the electrical products company Dyson will be hauled to court, says Datuk Seri M. Saravanan (pic). Saravanan was responding to questions raised by several MPs over Dyson's allegations of forced labour against local supplier ATA IMS Bhd. On Dyson's move to terminate its relationship with ATA IMS, Saravanan said there are "two sides to the story". Based on the initial information we received from the company (ATA IMS), it was due to lack of manpower," said Saravanan. ATA IMS had previously denied allegations of forced labour.

KUALA LUMPUR (Nov 30): Glove makers fell on Tuesday (Nov 30), as investors took profit after concerns over the Omicron variant of the Sars-COV-2 virus abated, said fund managers. At Tuesday's closing, Top Glove settled at 26 sen or 8.15% lower at RM2.93, after slipping to an intra-day low of RM2.78. He expects glove makers' downtrend to continue due to environmental, social and governance (ESG) concerns, rising capacity from existing and new glove players and also declining average selling price trend. “It is too early to tell what is the impact from the Omicron variant. Rakuten Trade head of research Kenny Yee also said the surge in glove makers on Monday was a knee-jerk reaction to the Omicron variant.

KUALA LUMPUR: Integrated engineering solutions provider, Kelington Group Bhd reported a robust financial performance in the third quarter (3QFY21) and nine months ended Sept 30, 2021 and it is upbeat about its prospects. In 9MFY21, Kelington posted a record-breaking financial performance as revenue rose 30% to RM337.6mil and net profit more than doubled to RM20.9mil as compared to previous corresponding period (9MFY20). “The process engineering and general contracting segments contributed 12% and 11% respectively to the total revenue,” it said. “We are confident to secure more projects in the coming months which will further elevate our financial performance in the foreseeable future. Kelington remains in a healthy net cash position of RM50.1mil with total cash exceeding total debt.

ATA IMS warned that the current situation may persist until such time as the government re-opens recruitment of foreign workers for the manufacturing sector. Due to the current freeze on new employment from source countries, employers are unable to get replacements for their foreign workers,” it added. He says hiring foreign workers is not cheap, considering that employers must also bear the recruitment fees, which foreign workers previously paid to the recruitment agents themselves. Mui says, essentially, foreign workers are favoured over locals not because of lower labour costs but because of their good attendance and fewer working issues. “Companies should take this opportunity to start looking for technological advancement and reduce their dependency on foreign workers.

PETALING JAYA: All hiking activities at permanent forest reserves (HSK) in Selangor will not be allowed starting Wednesday (Dec 1) due to the monsoon season. The Selangor Forestry Department, in a statement, said the forest reserves would be closed from Dec 1 to Jan 31. The department said the closure was done for the safety of the hikers as it was the monsoon season. "For details, call 03-5544 7000, 03-5544 7507 or email admin_eco_park@forestry.gov.my," said the statement. Some of the forest reserves in Selangor include the Kanching and Templers Park in Rawang as well as the Bukit Cherakah Forest Reserve in Shah Alam.

GENEVA (Reuters) - The Omicron variant is likely to spread internationally, posing a "very high" global risk where COVID-19 surges could have "severe consequences" in some areas, the World Health Organisation (WHO) said on Monday. "Omicron has an unprecedented number of spike mutations, some of which are concerning for their potential impact on the trajectory of the pandemic," the WHO said. "The overall global risk related to the new variant of concern Omicron is assessed as very high." Further research is needed to better understand Omicron's potential to escape protection against immunity induced by vaccines and previous infections, it said, adding that more data was expected in coming weeks. "COVID -19 cases and infections are expected in vaccinated persons, albeit in a small and predictable proportion", it added.

KUALA LUMPUR: The Human Resources Development Fund (HRDF) will be rebranded as the Human Resource Development Corporation (HRD Corp), as part of an effort to enhance the agency's role to support talent development. Prime Minister Datuk Seri Ismail Sabri Yaakob is expected to officiate the launch this Thursday (Dec 2). The agency, in the last 18 months, has further expanded its role to support training and development needs of all Malaysians from various backgrounds. The event will feature information sharing on training and upskilling programmes by HRD Corp and its strategic partners, which is a free event and open to the public. The exhibition will also include career talks by the HRD Corp Placement Centre and walk-in interviews, as well as forums featuring speakers who are industry experts on the future workforce.

KUALA LUMPUR (Nov 29): Furniture maker Lii Hen Industries' net profit plummeted 82.4% to RM5.08 million in the third quarter ended Sept 30, 2021, from RM28.87 million a year ago as its factories were hit by lockdown measures. Earnings per share dived to 2.82 sen from 16.04 sen, the group’s filing with Bursa Malaysia showed. Quarterly revenue fell 65.12% to RM105.35 million from RM302.06 million in the same quarter last year. Lii Hen declared a second interim dividend of 1.5 sen per share compared with five sen a year earlier, to be paid on Dec 30. Lii Hen's share price closed down three sen or 1.04% at RM2.86, bringing it a market capitalisation of RM515 million.

KUALA LUMPUR (Nov 30): Inter-Pacific Securities Sdn Bhd said after an extended selling streak, the market is ripe for a rebound from its oversold streak. Inter-Pacific said even as the Omicron variant concerns have not abated and will continue to dictate market conditions, near term bargain hunting could be in store as some bellwethers’ valuation are looking compelling. Therefore, it said the bouts of fresh buying could sustain for now to provide the impetus for the key index to make a recovery. “Nevertheless, the near-term positivity is likely to prevail as the key index looks to adjust from oversold that may also allow it to retest the 1,520 level. Inter-Pacific said the lower liners and broader market shares are also looking to rebound after their extended selling streak.

SINGAPORE: Prime Minister Datuk Seri Ismail Sabri Yaakob has described his first official visit to Singapore. Ismail Sabri, who arrived here this morning, and Lee had earlier launched the Vaccinated Travel Lane (VTL) for air and land travel between Malaysia and Singapore at the Woodlands Checkpoint. The Prime Minister said the category of users for the land VTL might be expanded after Dec 23, depending on the impact of the opening of the current first phase of land VTL. During his visit to Singapore today, Ismail Sabri attended an official welcoming ceremony at the Istana where he inspected a guard of honour and signed the guest book. The Prime Minister also had a new orchid hybrid named in his honour before paying a courtesy call on Singapore President Halimah Yacob.

(Reuters) - U.S. Open champion Emma Raducanu has thanked Lewis Hamilton for his advice and support since her thrilling maiden Grand Slam win in September, describing the seven-times Formula One world champion as her role model. Speaking after her straight-sets win https://www.reuters.com/lifestyle/sports/raducanu-dazzles-crowd-royal-albert-hall-homecoming-2021-11-28 over Elena-Gabriela Ruse at an exhibition event in London on Sunday, Raducanu said Hamilton was a "really cool guy". Raducanu competed in karting and motocross events as a child, and is a big fan of Formula One. He has been such a good role model for me in terms of helping me out through the next stages," Raducanu told British media. Raducanu, who is preparing for the 2022 season by undergoing intense five-hour daily training sessions, also spoke about her personal goals.

KUALA LUMPUR (Nov 29): theedgemarkets.com highlighted six stocks with momentum at Bursa Malaysia's afternoon close on Monday (Nov 29). Two stocks showed positive momentum, while four indicated negative momentum. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum. It merely tells you which stocks are seeing higher-than-normal volume and price movements. However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks if they want to ride the momentum.