(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.

Why is a company’s purpose even more important than ever today, when corporate leaders are confronted with so many crippling challenges? People want to work for companies that put a meaningful purpose behind their operations. Hence, a purpose needs to be a “living” document that puts purpose to work, and translated into what needs to be done at a company daily. So, how can you, a corporate leader, start thinking about your company’s purpose statement? At Ritz Carlton’s daily 10-minute “line-up”, they ask employees in each shift to give examples of how they contributed to the higher corporate purpose or how they messed it up.

Being agile and selective in stock picks are keys to driving returns. Three fund managers share with StarBizWeek their top three stock picks for 2022, and the rationale for their selection. Kenanga Investors Bhd executive director and CEO Ismitz Matthew De Alwis:(pic below)Kenanga Investors Ismitz Matthew> Ancom BhdThe company is a manufacturer of agricultural chemicals. > Greatech Technology BhdThe company is primarily a manufacturer of automated equipment with a wide product range from single automated equipment to production line systems. > Kelington Group BhdThe company is involved in ultra-high purity delivery systems, process engineering and general contracting.

NEW DELHI (Dec 24): Indians are crowding markets and taking packed flights to holiday destinations again despite calls from authorities urging restraint and caution amid rising cases of the rapidly spreading Omicron variant of the coronavirus. In terms of occupancy, we are back to pre-Covid-19 levels," Nilesh Shah, who heads a top travel body in the state, told Reuters. But Prime Minister Narendra Modi's government has warned states not to let their guard down as cases of the Omicron variant jump to 358, although no deaths have been reported so far. On Thursday, an Indian court urged Modi's government to suspend political rallies in states facing elections due to the rise in Omicron infections. In all, India has recorded 34.8 million Covid-19 cases and nearly 480,000 deaths during the pandemic so far.

KUALA LUMPUR (Dec 24): Pacific & Orient Bhd (POB) is disposing of its 21.91% stake in Singapore-based data software company HiringBoss Holdings Pte Ltd (HHPL) for US$19.83 million (RM83.11 million). The group said it is joining other shareholders of HHPL in selling their entire interests in HHPL to Access UK Ltd under an agreement signed on Friday (Dec 24). The proceeds from the disposal will be used to fund its working capital and future investments, the group said. The disposal will also result in a gain of US$17.88 million (RM74.94 million) for FY22, it said. POB’s shares closed up one sen or 1.07% higher at 94.5 sen, valuing the group at RM269.87 million.

The government has, therefore, decided to impose definitive anti-dumping duties on the importation of the subject merchandise from China, which is equivalent to the amount of the dumping margins. The International Trade and Industry Ministry (MITI) said it has conducted and completed a detailed investigation concerning the merchandise in question, in accordance with the Countervailing and Anti-Dumping Duties Act 1993 and Countervailing and Anti-Dumping Duties Regulation 1994. MITI said it will impose 9.47% anti-dumping duties on Silvery Dragon Prestressed Materials Co Ltd Tianjin, 2.09% on Tianjin Dalu Steel Strand For Prestressed Co Ltd, and 21.72% on other producers/exporters. "The Royal Malaysian Customs Department will enforce the collection of anti-dumping duties on the imports of the subject merchandise for a period of five years, effective from Dec 25, 2021 to Dec 24, 2026. "With the imposition of anti-dumping duties on imports of the subject merchandise from China, it is expected that the issue of unfair trade practices will be addressed," MITI added.

KUALA LUMPUR (Dec 24): CTOS Digital Bhd has proposed to buy a 49% stake in fintech specialist Juris Technologies Sdn Bhd (JurisTech) for RM205.8 million, cash, the group’s largest-ever acquisition since its inception. According to CTOS Digital, JurisTech is a leading Malaysia-based fintech company that specialises in enterprise-class software solutions for banks, financial institutions, insurance, and telecommunication companies. This partnership with CTOS Digital will propel us to fulfil our vision of delivering frictionless financial transactions and drive greater financial inclusion and technology innovation in credit decisioning,” she said. To fund the purchase, CTOS Digital plans to undertake the private placement of new shares, representing up to 10% of its current 1.1 billion outstanding shares. If the proceeds are insufficient to cover the BOL acquisition, CTOS Digital plans to procure bank borrowing.

There are plenty of great spots to take selfies and family pictures at the park. — MELODY L. GOH/The StarWant to go on a "snowy" holiday but don't really want to fly overseas? Well, you can always drive up to the highlands instead.Genting Highlands in Pahang, that is.Resorts World Genting invites guests to join its annual Genting Winter Wonderland celebrations, where the snow falls a few times a day and the light dances on the lake.This special year-end programme will run until Jan 2. Suffice it to say, some of these rides are not for the faint-hearted!Over at the VR section, "treat" yourself to some thrilling virtual reality experiences with the RoboCoaster, SkyGlider and Vortex. All seats and equipment are cleaned and sanitised after each use.For more information, head to the Resorts World Genting website ( https://www.rwgenting.com/ ).

Overall, the S&P 500 is down only 0.1% since the Omicron variant was identified on Nov 24. The Omicron variant is causing infections to double in 1.5 to 3 days, according to the World Health Organisation. Shares of vaccine makers slumped in December as investors expect the Omicron variant's impact to be limited based on recent data. The average Santa Claus rally has boosted the S&P 500 by 1.3% since 1969, according to the Stock Trader's Almanac. Possible volatilityWhile there will likely be some economic impact from Omicron, US consumer spending will likely remain strong, said Cliff Hodge, chief investment officer for Cornerstone Wealth.

KUALA LUMPUR (Dec 23): theedgemarkets.com highlighted one stock with momentum at Bursa Malaysia’s afternoon close on Thursday (Dec 23). The stock was:Focus Lumber Bhd — up four sen at RM1.25The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. 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. But the “+ve” (suggesting a rising price trend on volume) and “-ve” (suggesting a falling price trend on volume) indicators should give readers a better idea of what the market is buying and when to sell.

KUALA LUMPUR (Dec 23): Hong Leong Investment Bank (HLIB) Research expects a down-cycle for the petrochemical sector over the next few years, beginning in 2022. The research firm said it gathered that the petrochemical super-cycle had somewhat peaked based on its recent analysis of Petronas Chemicals Group Bhd (PetChem) and Lotte Chemical Titan Holding Bhd. “We think that indicated capex levels should still be sufficient to help the sector recover in 2022, albeit still lower than its pre-pandemic 2018-2019 levels,” he said. “In 2022, non-OPEC supply is projected to see robust growth of three million bpd. “Investment in the non-OPEC upstream sector in 2022 is estimated at around US$350 bilion (about RM1.47 trillion), showing a 50% drop compared to the 2014 level,” said Yap.

KLANG: The jammed sluice gates at the Taman Sri Muda pumphouse in Shah Alam is now operational again after a generator was brought to the site, says Selangor Mentri Besar Datuk Seri Amirudin Shari. He said the jammed sluice gate was repaired after Tenaga Nasional Bhd brought in a power generator. “The sluice gates are operational again. He added that with the sluice gates operational, the floodwaters at the housing estate would now recede more quickly. Shah Alam MP Khalid Samad questioned why the sluice gates were not operational even if there was a power failure.

“Coraza strives to continuously expand the range of services we provide to our customers that operate in various industries. The IPO, which is open for subscription from Wednesday until Jan 6, 2022, will see Coraza issue 117.8 million new shares, representing 27.5% of its enlarged share capital, at an issue price of 28 sen apiece, according to the statement. Based on the enlarged share capital of 428.3 million shares, Coraza said it is expected to have a market capitalisation of RM119.9 million. Coraza is expected to be listed on the ACE Market of Bursa by Jan 20, 2022. M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for Coraza’s IPO.