IPOH (June 28): Another 98 5G network sites would be beaming in Greater Ipoh region covering the Kuala Kangsar Municipality, as well as Kampar and Batu Gajah District Councils by October. “Since the launch in April last year, Ipoh City Council (MBI) had kicked off 12 projects including the main project, Ipoh Smart City project, which is the Ipoh Integrated Command Centre (IIOC), was jointly mobilised with Telekom Malaysia (TM). In this regard, Khairul Shahril said MBI and TM One had implemented a trial period for a smart traffic light system at four junctions along Jalan Sultan Idris Shah since November 2021. “The four junctions which have been installed with the smart traffic light system are Jalan Sultan Idris Shah and Jalan Laksamana junction, Jalan Sultan Idris Shah and Jalan Datuk Onn Jaafar junction, Jalan Sultan Idris Shah and Jalan Raja Musa Aziz junction, and Jalan Sultan Idris Shah and Jalan Raja Ekram junction. The TM ONE STARS system is equipped with Artificial Intelligence (AI) capabilities, high-definition AI cameras and video analytics that enable intelligent traffic analysis for optimal smooth traffic, ” he added.

“Despite the Covid-19 pandemic, sales of our current property projects have been quite good so far. According to Yap, the remaining gross development value for Grand Ion Majestic is RM537.4 million, while the remaining GDV for Grand Ion Delemen is RM125.07 million. If good opportunities arise, the company may consider buying land or even taking over certain property projects in Selangor and Melaka. White knightPuchong-based NCT is known for its expertise in rehabilitating abandoned mega property projects in Malaysia. “In other words, our listed company [NCT] gets control of Grand Ion Delemen with a deferred payment scheme.

Advocates of the metaverse expect tomorrow's city dwellers to spend a lot of time in this virtual universe. Although the metaverse is still in its infancy, the development of this virtual universe raises questions about how we interact with urban planning and space. For years, they have been advancing several hypotheses on how to promote the wellbeing of city dwellers. Rethinking tomorrow's urban planningA team of researchers from the University of Lille used virtual reality to measure the impact of vegetation and colourful patterns in the city. They equipped 36 participants with a virtual reality headset and eye and heart sensors to immerse them in a virtual urban environment with different configurations (with or without vegetation, or with coloured patterns on paths).

(June 28): After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising US dollar. Thai reserves slid to US$221.4 billion as of June 17, in data released late last week. Reserves in South Korea and India are at their lowest in more than a year. This year, as the hawkish Federal Reserve boosts the US dollar, central banks have reversed the buying: Thailand and Indonesia are among those which have pledged to reduce volatility in their currencies. “Central banks in Asia tend to ‘lean against the wind’, using FX interventions to smooth exchange-rate adjustments,” said Frederic Neumann, co-head of Asian economics research at HSBC Holdings Plc.

KUALA LUMPUR: Shares in Sapura Energy Bhd jumped 22% in early trade after the company returned to the black in the first quarter ended April 30 (1Q23). It is currently the second most active counter on Bursa Malaysia with 62.58 million shares done. Sapura Energy posted a net profit of RM91.93mil in the first quarter ended April 30 (1Q23) from a net loss of RM97.07mil in the same quarter last year, on favourable foreign exchange gains following the strengthening of the US dollar. Hong Leong Investment Bank said Sapura Energy recorded 1Q23 core net loss of RM203mil was within expectations based on the house/consensus full-year net loss forecast of RM758m/RM580.1mil. Hong Leong has maintained its “sell” on Sapura Energy with an unchanged target price of one sen based on 0.5x FY22 P/B.

KUALA LUMPUR: The Employees Provident Fund (EPF) continues to capitalise on the arbitrage opportunity between the current market price of Lingkaran Trans Kota Holdings Bhd (Litrak) shares and the RM5.08 a share return on the winding-up plan the company’s board has proposed to undertake. The shares traded between a range of RM4.80 and RM4.75 before closing at RM4.75 on June 22. Litrak shares closed up one sen to RM4.78 yesterday, which is at a 30-sen discount or 6.28% to the RM5.08 offer price. Another trader with a local brokerage said the price action in Litrak shares was similar to what transpired in the privatisation of MMC Corp Bhd last year. MIDF Research has maintained a “buy” recommendation for Litrak with an unchanged target price of RM5.08.

Datuk Lee Chong Wei has issued a challenge to players of this era to surpass his 12-time success at the Malaysian Open. Chong Wei’s call seems like a tall order but the three-time Olympic Games silver medallist believes the players have to start somewhere. No Malaysian has won the singles title since Chong Wei’s victory in 2018, which was his 12th title. The nation always comes first.”What is the key to Chong Wei’s success at home? “The pressure will always be there but it all depends on how our players control their emotions,” added Chong Wei.

KUALA LUMPUR (June 27): Financially troubled Sapura Energy Bhd returned to the black in the first quarter ended April 30, 2022 (1QFY23) with a net profit of RM91.93 million, on the back of foreign exchange gains arising from the appreciation of the US dollar against the ringgit. In the preceding quarter, it had posted its biggest ever net loss of RM6.78 billion. In the same period last year, Sapura Enery had posted a net loss of RM97.08 million. Commenting on the group’s financial performance, Sapura Energy Group CEO Datuk Anuar Taib said the group is seeing the first green shoots of recovery, following the implementation of its reset plan. Shares in Sapura Energy finished unchanged at 4.5 sen on Monday, valuing the oil and gas service provider at RM647.15 million.

KUALA LUMPUR (June 27): With the number of people over 65 years in Malaysia projected to triple from two million at present to over six million by 2040, Malaysia needs to learn from Japan on how to manage its ageing population. Ras Adiba had asked the ambassador about what Malaysia can learn from Japan's experience in managing its ageing citizens who are expected to represent 35.3% of the country's population by 2040. “Ageing population issue is one variable that I really want to explore on how we can work together. “When it comes to the ageing population, according to the World Bank statistics, you’re 50 years younger than Japan. Takahashi said Malaysia and Japan have enjoyed excellent bilateral ties since the establishment of Malaysia’s Look East Policy four decades ago.

“They mostly eat energy-densed processed food like rice and bread to feel full. “About 70% also consume sugary drinks at home and the children consume the same food prepared by their parents,” said Lim. “For teatime, families prepare snacks like curry puffs, cucur udang and goreng pisang (banana and prawn fritters) which are high-energy food but not necessarily healthy,” she said. “We need a food subsidy scheme for the lower-income group. “Instead of just giving one-off payments, give a food subsidy card to enable them to buy fruits and vegetables.

LONDON: Central banks need to pay more attention to how the money supply affects inflation, the economy and their own policy-transmission mechanisms, Bank of England (BoE) chief economist Huw Pill says. Speaking separately at Chatham House in London, Haskel said that monetary and fiscal policy were not to blame for the current inflation shock. “If you’re going to look for a culprit for current inflation, at least in Europe, I do not believe we should be looking towards reckless monetary or fiscal policy,” Haskel said. “While monetarism remains unfashionable in academic and central banking circles, perhaps it has contributed more to the past, present and potential future of monetary policy than we conventionally admit,” he said. The use QE “inevitably begs the question of whether monetary quantities have re-asserted themselves in the conduct, transmission and communication of monetary policy.”Pill said the BoE would unwind its £895bil (RM4.8 trillion) of asset purchases under QE carefully, which would allow it to make the interest rate the main tool of monetary policy.

Over the next two articles, I will examine whether fixed exchange rates (pegging it to another currency) or free-floating exchange rates (which many believe is what Malaysia is on) are best for the country. Malaysia is indeed such an economy, open to trade to a fault and yes, it is small. The other source of concern for Malaysians are interest rates. The key strategy to combat inflation is to raise interest rates, making it more expensive for borrowers. Without a deep currency market, the currency would fall to high volatility and be subject to predatory attacks, at the country’s expense.

BEIJING (June 27): Chicago corn fell on Monday (June 27), extending a drop from previous sessions after brief bargain-buying, as prospects of improving weather in some producing regions weighed on prices. FundamentalsThe most-active corn contract on the Chicago Board of Trade (CBOT) slid 2.7% to US$6.55 (about RM28.86) a bushel. Chicago wheat fell 0.4% to US$9.32-3/4 a bushel, while soybean shed 0.75% to US$14.13-1/2 a bushel. Egypt had contracted to buy 180,000 tonnes of wheat from India, less than previously agreed at 500,000 tonnes, the supply minister said on Sunday. Commodity funds were net buyers of CBOT corn, soybean, soyoil and soymeal futures contracts last Friday.

KUALA LUMPUR: A great personality along with relevant skill sets were among qualities sought by companies looking to fill positions during the myStarJob Fair 2022. The job fair, which was held at the Pavilion Bukit Jalil Exhibition Centre over the weekend, attracted a huge number of jobseekers. “We want people with personality and those who are willing to go the extra mile,” said the company’s human resources head. The myStarjob Fair, featuring leading employers under one roof, is an avenue to provide an opportunity for jobseekers to discover the best job while at the same time assist exhibitors in building up their employer brand. There were 33 companies who participated in the career fair representing a wide range of industries.To learn more about the next myStarJob Fair 2022, visit www.facebook.com/myStarjob and bit.ly/mystarjobfair.

Recent research also suggests that women, non-white employees, and those in lower-wage jobs are the workers most likely to consider making job changes. Both Deloitte Global’s Women at Work study and more recently, our economics team study findings support this, indicating that globally, the pandemic had a disproportionate adverse effect on women. Whether driven by a wave of restlessness, fresh opportunities, or ordinary employment churn, workers everywhere are leaving – or considering leaving their current position – or the workforce altogether. To unlock ongoing potential, it’s time for leaders to shift their thinking on talent and the very nature of work itself. To overcome the great resignation, it’s going to take a rethink, reshuffle, refocus, and reset to achieve the great reimagination.