The notice was issued under Section 21 of the Price Control and Anti-Profiteering Act 2011 (AKHAP 2011). "The identified companies will be asked to explain their price hikes on goods and services," said Minister Datuk Armizan Mohd Ali in a statement on Friday (June 14). He said the 10 companies comprised three transport companies, three construction companies, two beverage companies and two machinery rental companies. ALSO READ: Govt to focus on targeted diesel subsidy initiative for now"Two of the companies were summoned on Thursday (June 13), while the others will follow according to schedule," he added. ALSO READ: Public wants govt to ensure smooth implementation of diesel subsidy rationalisation"Each company will be called to provide detailed information and documentation on their services and sales of goods for a profiteering analysis.

KUALA LUMPUR: Bursa Malaysia has issued an unusual market activity (UMA) to P.I.E. Industrial Bhd due to the sharp rise in the price and trading volume today. The electronics manufacturing services company rose 14.54%, or nine sen to RM7.09, its record high. It is currently the top gainer on Bursa Malaysia with 2.04 million shares traded. Bursa Malaysia advised investors to take note of the company’s reply to the UMA query that will be posted on Bursa Malaysia before making their investment decision.

KOTA KINABALU: Sabah is focused on broadening its digital base to reach out to rural areas to boost economic and financial transformation, says Chief Minister Datuk Seri Hajiji Noor. The government's digital economy, he said, targets cashless financial transactions and initiatives aimed at accelerating the implementation of digital technology and driving economic and financial transformation in the country. Cashless transactions offer many benefits that will ensure easier, faster and safer payments, he said. "This initiative does not only facilitate daily transactions but also solves the issue of the lack of ATM machines in rural areas. He said the state-owned Sabah Net is also working with Bank Negara as well as other banks as part of Sabah's digital financial initiative to bridge the digital gap with rural communities.

TOKYO (Bernama-Xinhua): Streptococcal toxic shock syndrome, a potentially fatal illness caused by a "flesh-eating" bacterium, is increasing notably across Japan, with cases in the first half of this year already exceeding last year's record, local media has reported on Tuesday. The figure in the first six months of 2024 already surpassed last year's 941, the highest annual number of cases tallied since mandatory reporting began in 1999, the report said. Tokyo logged the highest number of cases at 145. Infections of more virulent and contagious strains of the bacterium are increasingly being reported, particularly in the Kanto region centering on Tokyo, it added. "High fever accompanied by delirium or rapid swelling of wounds are dangerous signs", and immediate medical attention should be sought, he said.

KUALA LUMPUR: Malaysia must not be complacent and continue to remain in its comfort zone, especially when it is competing with countries like Singapore, Indonesia and Vietnam, says Datuk Seri Anwar Ibrahim. Anwar emphasised the importance of adapting the education system to current demands, such as artificial intelligence (AI) and other emerging disciplines by establishing specialised faculties and revising outdated processes. He encouraged industries to adopt TVET programmes, noting that companies like PETRONAS, Proton and Geely can further expand their involvement. Anwar said such collaboration allows industries to define the necessary training and leverage their practical insights over conventional education systems. On another matter, Anwar said the government holds the responsibility of building internal strength and emphasising the growth of local industries.

PETALING JAYA: PUC Bhd has entered into a heads of agreement for the purchase of the entire equity stakes in Alevate Capital Sdn Bhd and Alevate Solutions Sdn Bhd for RM200mil to be satisfied by cash and shares. The vendors of the companies are Eatcosys Sdn Bhd, a wholly-owned subsidiary of Incite Innovation Sdn Bhd and Tham Lih Chung. Under the terms of the agreement, PUC said in a statement yesterday, that it would settle the first RM100mil of the purchase consideration through the issuance of 800 million PUC shares at 12.5 sen a share. An additional RM7.5mil in cash will be payable once Alevate Capital and Alevate Solutions achieves a pre-tax profit of RM16mil from July 1, 2024, to June 30, 2025. The balance will be subject to achieving a further profit guarantee milestone of RM32mil in pre-tax profit from July 1, 2024 to June 30, 2026.

PETALING JAYA: Finance Minister II Datuk Seri Amir Hamzah Azizan will be holding a press conference on the diesel subsidy rationalisation on Sunday (June 9). On May 24, Amir Hamzah said that diesel subsidies cost the government RM1bil a month, while losses from leakages amount to a whopping RM4.5mil a day. In announcing the fuel subsidy rationalisation in a national address on May 21, Prime Minister Datuk Seri Anwar Ibrahim said subsidies for diesel would be withdrawn for “the rich and foreigners”. The diesel subsidy will first be rationalised in the peninsula, while the implementation in Sabah and Sarawak will happen later, he said, without mentioning any timeline for implementation. Diesel subsidies will also continue for certain categories of fishermen.

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PETALING JAYA: The Ministry of Plantation and Commodities is cautiously optimistic that Malaysia will be able to achieve a double digit growth in rubber gloves export revenue this year. Deputy Plantation and Commodities Minister Datuk Chan Foong Hin said that last year, Malaysia exported over RM11 billion worth of rubber gloves, which accounts for 58 per cent of the nation’s total export of rubber products. "Malaysia is also the global leader in the rubber gloves industry. Malaysia recorded RM3.3 billion rubber gloves export revenue in the first quarter of 2024. On another development, Oon said MARGMA is currently exploring the establishment of industry standards for Malaysian-manufactured rubber gloves and implementing the 'Malaysia Sustainable Natural Rubber' initiatives, including 'Green Gloves' and other ecofriendly options.

The research house said it is maintaining its “buy” call with an unchanged target price of RM1.72, as Kimlun has proven itself to be a proxy for mahor infrastructure projects. Meanwhile, Kenanga Research said it is maintaining its “market perform” call with a higher target price of RM1.47 as Kimlun is poised to benefit from a new wave of public infrastructure projects. The research house said it expects a brighter outlook for Kimlun as it eyes work packages and pre-cast concrete orders from multiple projects. These include the Pan Borneo Highway, flood mitigation projects, semiconductor factories and urban transit projects in Singapore. Kenanga Research said some of the downside risks for the company include delays in the rollout of public infrastructure projects, liquidated ascertained damages arising from cost overruns and delays, rising cost of building materials and labour shortages.

KUALA LUMPUR: Bank Rakyat has allocated RM50 million via the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) programme to assist the Indian entrepreneur community operating micro, small and medium enterprises (MSMEs) in terms of working capital and capital expenditure for business expansion. This assistance for the Indian entrepreneur community will help to achieve the government’s aspiration in eradicating hardcore poverty and bridging the economic gap for a prosperous MADANI Malaysia, he said. "BRIEF-i is an initiative that can create a brighter future for the Indian entrepreneur community. As for small and medium enterprises (SMEs), the financing rate is base financing rate (BFR) plus 0.67 per cent per annum with a guarantee fee, and the financing amount is between RM50,001 and RM1 million. Those keen to apply or obtain further information can go to Bank Rakyat’s official portal and QR2E (Quick Response to Entrepreneurs) at www.bankrakyat.com.my and https://qr2e.bankrakyat.com.my, respectively, or visit any Bank Rakyat Business Banking Centre.

PETALING JAYA: The upcoming implementation of third-party access (TPA) framework is not expected to be a threat to the country’s sole electricity provider, Tenaga Nasional Bhd (TNB), says RHB Research. RHB Research noted this is because TNB will still own the infrastructure and may have to incur capital expenditure (capex) to upgrade it. RHB Research maintained a “buy” call on TNB with a target price of RM16.10 a share. The research house believes TNB should continue to benefit from the continuous upgrades of its T&D assets, with energy demand supported by the mushrooming development of data centres. It also noted that TNB’s valuations have run ahead of fundamentals at this juncture and that any weaker-than-expected capex in the upcoming RP4 determination is a valuation de-rating risk.

KUALA LUMPUR: It is time for Malaysia to embrace serious reforms in its pension and retirement framework to ensure financial security and equity for all Malaysians, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar said a recent survey found that 26.1% of respondents above the age of 60 will continue to work until their health fails as they face challenges in achieving income security to finance their retirement needs. He said the old-age population is more susceptible to poverty compared to the average Malaysian population, as only 29 per cent of Malaysians have pension or pension-like income during retirement. Also present were Deputy Prime Minister Datuk Seri Fadillah Yusof, Finance Minister II Datuk Seri Amir Hamzah Azizan and EPF chairman Tan Sri Ahmad Badri Mohd Zahir. The government will further strengthen social assistance programmes to provide support and a safety net for Malaysians who are facing financial hardship.

NEW DELHI (Reuters): Indian Prime Minister Narendra Modi's alliance was winning a majority of seats about halfway through the count in the general election on Tuesday, but the numbers were well short of the landslide predicted in exit polls, TV channels said. Modi's own Bharatiya Janata Party (BJP) was falling short of a majority of its own in the 543-member parliament, the trends showed. They showed BJP accounted for under 250 of the seats in which the NDA was leading, compared to the 303 it won in 2019. The opposition INDIA alliance led by Rahul Gandhi's centrist Congress party was leading in over 220 seats, higher than expected. - APPOLICY SLOWDOWNTV exit polls broadcast after voting ended on June 1 projected a big win for Modi, but exit polls have often got election outcomes wrong in India.

They said this is because they are well aware that having children is a huge, lifelong responsibility that should only be undertaken upon very careful consideration. “Before getting married, we planned to start having children after the third year of our marriage. ALSO READ: Chinese births likely to spike due to Year of Dragon“This is not to say that we have shut the door on having children at all. “I don’t think that we should be having children for the sake of fitting into societal norms as it is such a major, life-changing decision. “We want to spend some time living as husband and wife before even considering having children.