KUALA LUMPUR (Dec 9): Bursa Malaysia Bhd on Friday (Dec 9) launched the Bursa Carbon Exchange (BCX), which is a voluntary carbon market (VCM) and the world’s first shariah-compliant carbon exchange. There will be no restrictions imposed on sales of carbon credits generated from Malaysian projects to foreign buyers, said Nik Nazmi. Verra is a widely recognised standard in the voluntary carbon market, and accounts for nearly 70% of voluntary carbon credit issuances globally. Muhamad Umar hopes that the BCX will incentivise buyers and sellers of carbon credits in Malaysia to invest and finance climate-friendly projects. The BCX will provide three modes of carbon trading: auction, spot trading for standardised contracts of carbon credits and spot trading services for off-market transactions.

(Dec 9): Oil headed for a weekly loss of almost 10% after a volatile period of trading as concerns over the economic outlook overshadowed an easing of China’s strict virus curbs and a disruption to US crude flows. The market is also facing a persistent lack of liquidity that has left prices prone to large swings. Prices initially surged after the news before reversing gains to close lower on Thursday, capping a fifth day of declines. Still, for now, Russia sees the price limit having a limited effect on its crude output. The global benchmark was 44 cents a barrel in contango, compared with 2 cents in backwardation a week ago.

KUALA LUMPUR (Dec 8): Cypark Resources Bhd said its indirect subsidiaries have been awarded feed-in approval certificates from the government to carry out biogas projects with a total capacity of 2.7 MW in Johor and Terengganu. The feed-in approval certificates were awarded by Sustainable Energy Development Authority (Seda) for a period of 21 years, Cypark said. Tenaga Nasional Bhd will purchase electricity from the project companies at pre-agreed feed-in tariff rates, it added. The first biogas project comprises a 1.2 MW installed capacity biogas plant in Layang-Layang, Johor, which was awarded to Cypark's 51% indirectly owned Reviva BACRE (Ulu Remis) Sdn Bhd. The second is a 1.5 MW plant in Kemaman, Terengganu awarded to BACRE Reviva Biogas (Kemaman) Sdn Bhd, which is 80%-owned by BACRE Reviva Biogas Holdings Sdn Bhd, which in turn is an indirect 51% subsidiary of Cypark.

SEREMBAN: A manufacturing company in Nilai near here has been fined RM245,000 by the Sessions Court for allowing 49 illegals to enter and remain in its premises. The Immigration Department in a statement said a company director pleaded guilty after the charges were read to him before judge Diana Md Razali. The director was also ordered to serve three months in jail in the event he was unable to pay the fine. Offenders can be fined between RM5,000 and RM30,000 or imprisonment not exceeding 12 months or both for each illegal immigrant upon conviction. Immigration officers had detained the illegals while they were working during an operation on Nov 2.

Bermaz declared a second interim single-tier dividend of 3.5 sen per share, to be payable on Jan 6, 2023, bringing the total dividend declared for the cumulative six months ended Oct 31, 2022 (6MFY2023) to 6.5 sen per share (6MFY2022: two sen per share). Earnings per share increased to 5.65 sen in 2QFY2023 from 2.24 sen in 2QFY2022. For 6MFY2023, Bermaz recorded a revenue of RM1.5 billion and a net profit of RM115.83 million, greater than 6MFY2022's revenue of RM804.63 million and net profit of RM36.31 million. "This had compounded the microchip and component shortage situation and resulted in delays in the delivery of vehicles. Bermaz settled unchanged at RM1.99 on Thursday, valuing the group at RM2.32 billion.

Bangkuai hosted a dinner for the India Market Tour Agents of the Malaysian Association of Tour and Travel Agents (MATTA) in Kota Kinabalu on Wednesday (Dec 7). As such, the state will intensify efforts to lure Indian tourists as they represented the fastest-growing outbound market. Bangkuai, who is also Sabah Tourism Board (STB) chairman, assured that the STB was actively pursuing the Indian market. On Wednesday (Dec 7), Bangkuai hosted a dinner for the India Market Tour Agents of the Malaysian Association of Tour and Travel Agents (MATTA). He said that about 700,000 Indian tourists visited Malaysia in 2019, and the fact that a portion of them flew to Sabah demonstrated that Indian tourists were already making plans to experience the country's unique destinations.

Getting Started Junior Member108 postsJoined: Jul 2006https://www.nst.com.my/news/nation/2022/12/...-policy-says-drHealth Ministry to re-examine tobacco generational endgame policy, says Dr ZalihaThe tobacco generational endgame (GEG) policy will be re-examined in terms of its implementation through the Control of Tobacco Product and Smoking Bill 2022, which has yet to be approved in Parliament, said Health Minister Dr Zaliha MustafaQUOTE KUALA LUMPUR: The tobacco generational endgame (GEG) policy will be re-examined in terms of its implementation through the Control of Tobacco Product and Smoking Bill 2022, which has yet to be approved in Parliament, said Health Minister Dr Zaliha Mustafa. "Generally, to me, it (GEG policy) has its advantages, but I have to look at its the implementation process once we have reached a decision as it cannot be drastic...," she said when appearing as a guest on Bernama Radio's Bersama Pemimpin programme here today. Dr Zaliha said that in helming the ministry, she was open to receiving advices and suggestions from former health ministers and stakeholders. As Malaysia's first woman health minister, Dr Zaliha said her biggest challenge was to maintain excellence in the ministry and improve the country's healthcare services. The bill was tabled for the first reading by former health minister Khairy Jamaluddin on July 27, but was later referred to the Parliamentary Special Select Committee for fine-tuning.

PETALING JAYA: Star Media Group (SMG) chief business officer Lydia Wang has dedicated her win of the World Chinese Outstanding Woman Business Leader Award to the media company team. “This award is a reminder that great things happen when great people come together, and all that SMG has achieved would not have been possible without my colleagues. “This includes a monthly ESG pullout, the ESG Positive Impact Awards, as well as thought leadership and knowledge sharing programmes,” she added. Formerly known as the World Chinese Economic Summit, the GCET Summit aims to enhance connections and promote business, education and technology partnerships among global leaders. Wang was also conferred the World Women Media Leadership Award by KSI earlier this year.

KUALA LUMPUR (Dec 8): Shares in Dayang Enterprise Holdings Bhd fell 3.73% in early trade on Thursday (Dec 8) after the company reported in a Bursa Malaysia filing on Wednesday that the Employees Provident Fund (EPF) has ceased to be its substantial shareholder less than a month after attaining the status. At 9.15am, Dayang fell five sen to RM1.29 with 665,200 shares traded. The pension fund disposed of 1.15 million shares or a 0.1% stake in the oil and gas marine support service provider on Dec 2, slashing its stake to 4.96% (57.42 million shares). On Nov 11, EPF emerged as a substantial shareholder of Dayang with a 5.01% stake (58.03 million shares), and subsequently upped its stake to as high as 5.37% (62.17 million shares) by Nov 21. However, EPF then began paring its shareholding in Dayang on Nov 22, and by Dec 1 its equity interest in the group stood at 5.059% (58.57 million shares) after offloading a cumulative 3.6 million shares or 0.31% stake over six transactions in that one-week span.

KUALA LUMPUR: The Securities Commission (SC) is making serious efforts to strengthen the capital market’s overall capabilities and ability to withstand cyber attacks. Chairman Datuk Seri Awang Adek Hussin said cyber resilience is imperative for all capital market participants and a significant priority for the SC. Other CMP3 initiatives are developing an approach to bolster the industry’s cyber defence capabilities as well as a framework to regulate technology risks more holistically, he added. Awang Adek said as cyber threats increase in volume and sophistication and as technology becomes more essential, cybersecurity requires a holistic approach that addresses both cyber and technology risks. The yearly Capital Market Cyber Simulation event is designed to simulate cyber event scenarios as close to the real situation as possible, and around 110 organisations across the capital market spectrum participated in the year’s exercise.

PUTRAJAYA: The RM7bil that has been approved for flood mitigation initiatives will not proceed and will undergo a review, says Datuk Seri Anwar Ibrahim. The Prime Minister said this was because it was found that it was approved through direct negotiation and not through tender. "We will have this reviewed so that there will be transparency. Anwar has assumed the post of Finance Minister in his 28-member Cabinet line-up. The previous administration had announced a Flood Mitigation Plan worth RM15bil until 2030 as a long-term strategy to adapt to climate change facing the country.

Eei Hui will leave for New Zealand next February to coach the North Harbour Club in Auckland. “All of us have one mission, to do well, that will be the best parting gift for our coach,” said Shevon. “Soon Huat and I have been training under her since 2015. 11 Shevon and Soon Huat have not won any titles this year but they have beaten several top players. “Overall, it has been a good year for Soon Huat and me but it could have been better.” she said.

LONDON: Britain’s growth potential has fallen behind every large economy except Mexico due to collapsing productivity and severe labour market shortages, according to former Bank of England rate-setter Michael Saunders. Potential output, a mixture of productivity and workforce growth, is a measure of how fast an economy can expand before generating inflation. “Low potential growth implies low growth in real living standards,” Saunders wrote in a note. Britain was “roughly in the middle of the pack” of the 43 OECD nations for potential growth between 2010 and 2019, Saunders said. “Unless offset by persistently high inward migration, adverse demographics driven by population ageing are likely to further limit workforce growth in the coming years,” he said.

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KUCHING (Dec 3): Petra Jaya Member of Parliament Datuk Seri Fadillah Yusof created history as the first Malaysian from Sarawak, one of the Borneo states in Malaysia, ever appointed as deputy prime minister. For the late Yusof, it was a struggle between life and death for the nation but for Fadillah the struggle is definitely more than that. By now, Fadillah’s popularity was not just limited to Petra Jaya. Following his success in retaining his Petra Jaya seat in GE13, Fadillah was promoted to full minister to helm the Works Ministry in 2013. With this new trust placed on him by Prime Minister Datuk Seri Anwar Ibrahim, who also named him Plantations and Commodities Minister, Fadillah is certainly able to uphold that responsibility as he has shown over the years.