BUTTERWORTH: Market-goers were caught by surprise when they came across a fallen crane near the Chai Leng Park market. The bucket crane, which was used to hoist Pakatan Harapan flags, toppled and crashed onto the ground. Seberang Prai city councillor P. David Marshel, who is Batu Kawan DAP’s campaign director, denied any involvement of the party in the crane incident. “Even the flags used do not belong to us,” he said. During the 14th General Election in 2018, party supporters erected a “mini tank” at the same place.

KOTA BARU (Nov 5): Barisan Nasional (BN) candidate for the Ketereh parliamentary seat Marzuani Ardila Ariffin said that incumbent Tan Sri Annuar Musa had promised not to leave her side during the campaigning period for the 15th general election (GE15). Marzuani Ardila said Annuar had always supported her, along with the party machinery. “Annuar has promised me that he will not leave my side, because he wants to ensure that the parliamentary seat remains under BN. “Insya-Allah, I have my own strategy throughout the campaigning period,” she told reporters after the nomination process for the Ketereh parliamentary constituency here on Saturday (Nov 5). In the GE14, Annuar won the Ketereh seat with a majority of 4,626 votes, defeating his challengers from PAS and PKR.

KUALA LUMPUR: The Malaysian stock market surged yesterday, closing at an intraday high amid a buoyant regional performance, driven by hopes that China will soon relax its strict Covid-19 restrictions, dealers say. On the broader market, gainers led decliners 588 to 269, while 391 counters were unchanged, 1,078 untraded, and 19 others suspended. Turnover was slightly lower at 2.39 billion units valued at RM1.72bil versus 2.63 billion units worth RM1.89bil on Thursday. Malacca Securities Sdn Bhd senior analyst Kenneth Leong said the FBM KLCI staged a quick rebound yesterday with more than two-thirds of the key index components closing in the green. “The positive move was largely in line with gains across regional markets that were driven by optimism that China may relax its strict Covid-19 measures,” he told Bernama.

After investigation, MyCC issued a proposed decision on Feb 22, 2017, on the basis that the Competition Act had been infringed. CAT’s decision regarding Bank Negara will no doubt boost MyCC’s confidence when enforcing competition law in industries where other regulators may assert exclusive powers. CAT’s decision that the Competition Act did not apply to PIAM has severe ramifications curtailing MyCC’s powers against trade associations and their members. Trade associations are a coming-together of competitors in the same industry and, by their very nature, risky endeavours from a competition law perspective. Mervyn Lai (LLM [Dist] Competition Law, University of Glasgow) is a partner at law firm Tommy Thomas Advocates & Solicitors

KUALA LUMPUR: The ringgit ended lower against the US dollar on Friday due to a lack of market catalysts, exacerbated by global market uncertainties, dealers said. At 6 pm, the local note depreciated by 35 basis points to 4.7460/7495 against the greenback from Thursday's close of 4.7425/7460. Innes said there is a significant element of political risk weighing on the ringgit ahead of the 15th General Election, which is keeping foreign investors sidelined, hence the demand for the local note remains muted. Meanwhile, the ringgit was traded mostly lower against a basket of major currencies. The local note, however, appreciated against the British pound to 5.3231/3270 from 5.3372/3411 previously.

to 2.75% p.a. to 2.75% p.a. RHBRHB Banking Group will revise its SBR, BR and BLR/BFR upwards by 25bps effective Nov 7 in line with the increase in the OPR by BNM. CIMB Bank and CIMB IslamicCIMB Bank Bhd and CIMB Islamic Bank Bhd are raising their SBR, BR and fixed deposit/fixed return income account-i board rates by 25bps. "This will affect all floating rate financing packages pegged to the SBR, BR and BFR," it said in a statement.

KUALA LUMPUR: Drug-laced vape liquids are being sold openly, say the police. Police secretary Datuk Noorsiah Mohd Saaduddin said actions to combat such activities have been and are being taken, including the successful busting of a drug trafficking syndicate distributing and processing drugs in the form of vape liquids around the Klang Valley last month,She said that drugs and property worth RM3.47mil were seized in the raid and the arrest of seven suspects. "We are serious in eradicating all activities involving the distribution and abuse of drugs and stern action will be imposed on any party involved,” she said in a statement on Wednesday (Nov 2). This comes after local media reported that drug-laced vape liquids are widely sold online and openly marketed to consumers.

ALSO READ: Kota Tinggi hit by flash floodsJoel, who is also Asian Environmental Solutions Sdn Bhd director (technical operations), said a comprehensive study was needed to address flash floods in parts of Johor Baru. “Flash floods which hit several parts of the city on May 25, Aug 2 and Sept 25, required the authorities to address the issue once and for all,” he said. Joel: Flash floods are likely to happen with climate change as witnessed in various parts of Malaysia over the past two years. Johor Baru mayor Datuk Noorazam Osman said Johor Baru City Council (MBJB) had embarked on a flood mitigation project last month which was part of the medium-term plan to address flash floods in the city. It involves installing six water pumps and constructing nine weirs along a 5km stretch of the 8km river as the stretch is more vulnerable to flash floods.

BNPL deals represented 50% of the value of all payment deals in 2021, a boom year for M&A in payments. Visa and Mastercard diversify beyond cardsMeanwhile, payments companies must deal with the prospect of more consumers using digital and account-to-account payments. Visa has been pushing into consumer and business payments and extending into account-based payments. The company made two major acquisitions in 2021 — European open banking platform Tink and cross-border payments platform CurrencyCloud. Similarly, in the Philippines, UnionBank purchased Citi’s consumer business to boost growth in its retail banking sector.

KUALA LUMPUR (Nov 3): Slightly more than two weeks before the 15th general election, Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) raised the overnight policy rate (OPR) by 25 basis points (bps) to 2.75% on Thursday (Nov 3). “Against the backdrop of continued positive growth prospects for the Malaysian economy, the MPC decided to further adjust the degree of monetary accommodation. BNM noted that with the latest OPR level, its stance on monetary policy remains accommodative and supportive of economic growth. “Nevertheless, external demand is expected to moderate following softening global growth,” it added. “Despite bouts of heightened volatility in the global financial and foreign exchange markets, these developments are not expected to derail Malaysia’s growth,” BNM assured.

KUALA LUMPUR (Nov 3): Petronas Chemicals Group Bhd (PCG) and US-based fertiliser maker Anuvia Plant Nutrients have entered into an agreement, under which PCG will produce and market Anuvia's fertiliser in the Asia-Pacific region. “PCG is excited to be a part of this journey towards improving farmers’ income and global food security," PCG managing director and chief executive officer Mohd Yusri Mohamed Yusof said in a statement on Wednesday (Nov 2). According to the statement, the partnership aims to assist PCG’s venture into the sustainable fertiliser segment, and contribute to the company's overall goal to reach net zero carbon emissions by 2050. For Anuvia, the partnership opens its technology to one of the world’s largest agricultural markets, the statement said. “Working with Petronas, we can make immediate, significant impact on food security and soil health, all while decreasing the environmental footprint of agriculture,” Yoder said.

KUALA LUMPUR (Nov 2): Energy-linked stocks on Bursa Malaysia advanced on Wednesday (Nov 2) as oil prices rose. At market close, the energy index on Bursa gained 2.13% or 14.83 points to 710.33. Among energy stocks, Hengyuan Refining Company Bhd rose 11.42% or 49 sen to RM4.78, Petron Malaysia Refining & Marketing Bhd gained 6.33% or 29 sen to RM4.87, Coastal Contracts Bhd rose 4.90% or 10 sen to RM2.14, Uzma Bhd was up 2.63% or one sen to 39 sen and Bumi Armada Bhd gained 2.53% or one sen to 40.5 sen.Reuters said oil prices rose in early trade on Wednesday, after industry data showed a surprise drop in US crude stockpiles, suggesting that demand is holding up despite steep interest rate hikes dampening global growth. Brent crude futures had picked up 17 cents, or 0.1%, to US$94.82 a barrel at 0014 GMT, while US West Texas Intermediate crude futures rose 26 cents, or 0.3%, to US$88.63 a barrel. Both benchmark contracts rose about 2% in the previous session on a weaker US dollar, and after an unverified note trending on social media said the Chinese government is going to consider ways to relax Covid-19 rules from March 2023, Reuters reported.

KUALA LUMPUR (Nov 2): Shares in glovemakers rose in morning trades on Wednesday (Nov 2) as coronavirus cases continue flaring up in several provinces in China and Health Minister Khairy Jamaluddin said Malaysia is currently experiencing a small wave of Covid-19 cases. At the time of writing, Top Glove Corp Bhd added 0.63% or 0.5 sen to 80 sen, Careplus Group Bhd ticked up 0.98% or 0.5 sen to 51.5 sen, Hartalega Holdings Bhd added 0.94% or two sen to RM2.15, while Adventa Bhd rose 2.14% or 1.5 sen to 71.5 sen.Chinese government-controlled Global Times on Wednesday reported that as Covid-19 flares up in several places across China with total daily cases nearing 3,000, many localities, including Central China's Henan and South China's Guangdong, are stepping up efforts to contain the virus and resume work and life as soon as possible. It said to better take precautions against potential Covid-19 outbreaks in the winter and next spring, Henan province held a meeting on Monday, calling for full preparations in face of the grim epidemic situation and requesting all local officials not to slack off and make all efforts to ensure people's safety and health.

The three genres of fiction that I enjoy the most are, in no particular order, murder mystery “whodunnits”, horror à la Stephen King and science fiction. While I have read the first two categories pretty much my entire life, I am much more of a newbie to the science fiction category. And over the years, other friends have made further wonderful recommendations to me in science fiction. One such recommendation — which I am happy to forward to anybody — is the Three Body trilogy, by Chinese science fiction writer, Liu Cixin. Further, those in power typically find it difficult to redistribute power, particularly to those who have been historically underrepresented.

LONDON/NEW YORK (Nov 1): Chinese stocks listed in the US surged in New York on Tuesday, fuelled by speculation that Beijing is preparing to phase out Covid Zero policies — even as the nation's Foreign Ministry said it is unaware of such a plan. The Nasdaq Golden Dragon Index of 65 Chinese companies rose as much as 7.6% in New York, the most in more than five months. "Whether the rally sustains or not will be dependent on if China's Covid Zero policy is officially over." Still, the speculation was enough to also boost stocks from New York to Johannesburg to London. Still, the strong share-price reaction showed that many Chinese stocks "have substantial upside in the event the rumours of an exit from [Covid Zero] translate to reality", he said.