KUALA LUMPUR (April 22): Safety equipment manufacturer Fitters Diversified Bhd is selling its entire 72.27% stake in Molecor (SEA) Sdn Bhd, which manufactures PVC-O pipes, to Spain-based Molecor Tecnologia SI. Molecor Tecnologia currently owns 2.73% in Molecor SEA, while the remaining 25% stake is held by Sanlens Sdn Bhd. Molecor Tecnologia and United Sapphire have collectively offered a purchase consideration of RM30 million in aggregate for the proposed transactions. The effects of the proposed transactions will only be determined upon finalisation and execution of the definitive agreements. "The board is of the view that the proposed transactions are expected to improve the financial position of Fitters," it said.

KUALA LUMPUR (April 22): The Malaysian bond market registered its first foreign net outflow since November 2021, led by the sale of RM4.1 billion Malaysian Government Securities (MGS) and Government Investment Issues (GII) in March, according to RAM Rating Services Bhd (RAM Ratings). In a statement Friday (April 22), RAM Ratings analyst Woon Khai Jhek wrote that despite March’s overall net outflow of RM4 billion having more than offset the net inflow of RM3.1 billion in February, the cumulative year-to-date foreign fund flow in the Malaysian bond market had remained positive at RM2.6 billion. “The sharp outflow came amid a broad selloff in global bond markets last month, triggered by more aggressive monetary policy tightening signalled by the US Federal Reserve (Fed),” Woon wrote. “As a result, bond yields trended sharply upwards, with 10-year UST (US Treasury) and MGS yields respectively jumping 49 bps and 19.6 bps month-on-month to 2.32% and 3.84% as of end-March. The pressure persisted in April, with these yields climbing further to 2.83% and 4.02%, respectively, as of April 14,” said Woon.

As China increases lending to other developing countries, charges that these loans lead to a “debt trap” are growing quickly. Most Chinese lending is for infrastructure and productive investment projects, not donor-determined “policy loans”. Sri Lanka’s later debt crisis has been due to its structural economic weaknesses and foreign debt composition. Even the influential US Foreign Policy journal does not blame Sri Lanka’s undoubted economic difficulties on Chinese debt traps. To set the record straight, there was no debt-for-asset swap after Sri Lanka could no longer service its foreign debt.

SCAMMERS have reportedly started selling fake entry permits to immigrants in Sabah. Verdict:TRUEAccording to Sabah Immigration Department director Sitti Saleha Habib Yussof, scammers have started "issuing'' fake entry permits. The syndicate started selling the fake documents, which were supposedly issued by her department, at the end of last year. The document is titled "Arahan Pembayaran Permit Masuk KDN" (Home Ministry order for entry permit payment), but according to Sitti Saleha, the Immigration Department had never issued such letters. She urged the public to deal directly with Immigration Department officials at its office if they had documentation problems or issues they wished to inquire about.

KOTA KINABALU: There is another scam relating to documentation in Sabah and the public, especially immigrants, are urged to not fall for it. Sabah Immigration Department director Sitti Saleha Habib Yussof said it was learned that scammers were said to be selling a type of document, supposedly issued by the department, at the end of last year. She said the Immigration Department has never issued such letters, nor had it issued any such instructions. Sitti Saleha urged the public to deal directly with Immigration officials at the department's office if they have documentation problems or issues to ask about. Recently, there was another suspected documentation scam in which fake special identification cards were sold to unsuspecting foreigners in Sabah.

Lower operating cost from its cost savings/avoidance initiatives across the group as well as lower leasing cost post its successful restructuring further contributed to the improved performance in 2021," MAG said. "Malaysia Airlines and its sister airlines will gradually add capacity for both domestic and international routes, expecting to achieve more than 70% capacity to pre-pandemic level. Malaysian sovereign wealth fund Khazanah Nasional Bhd via MAG owns Malaysia Airlines. "Its current airlines business portfolio that serves the global, domestic and segmented market comprises Malaysia Airlines — the national carrier of Malaysia, Firefly and MASwings — the regional airlines focused on serving communities across Malaysia, and AMAL by Malaysia Airlines — [a] leading one-stop pilgrimage travel solutions centre," MAG said. Read also:Malaysia Aviation Group says Russia-Ukraine conflict raises challenges in managing operating cost

PETALING JAYA: The Health Ministry has reviewed its policy on visits from caregivers and visitors to hospitals, which will take effect on Saturday (April 23). Health director-general Tan Sri Dr Noor Hisham Abdullah said the decision to review and update the policy was based on the latest trend analysis of Covid-19 category 3, 4 and 5 cases. Dr Noor Hisham added that the assessment is also considering the low rate of utilisation of specific health facilities for Covid-19 cases. He added that generally, visitors or guardians allowed to visit and accompany patients must be aged 12 years and above. For Covid-19 patients, Dr Noor Hisham said the presence of a caregiver is only allowed for patients who require specialised care as well as paediatric patients only.

KUALA LUMPUR (April 21): Taliworks Corporation Bhd on Thursday (April 21) completed the acquisition of majority economic interest in four solar projects from TerraForm Global Operating LP (TerraForm Global) and several of its subsidiaries. In a statement, the infrastructure company said the solar projects, located within the vicinity of the Kuala Lumpur International Airport, have an aggregate capacity of 19-megawatt peak. The group will also be acquiring TerraForm Global Operating (Malaysia) Sdn Bhd, an operations and maintenance services provider of the solar project, as part of the transaction. “Our maiden acquisition will provide Taliworks with a solid platform to further expand into other renewable energy projects. “Additionally, the four solar projects will immediately serve as a reliable contributor to the Group’s earnings and cashflow, as the projects are fully backed by renewable energy power purchase agreements with investment grade off-takers.

MELAKA: Melaka is facing a shortage of grade C chicken eggs due to high demand from food traders, said state Unity, Information, Human Resources and Consumer Affairs Committee chairman Ngwe Hee Sem. He said the high demand for the grade C chicken egg was because of its price, which is the cheapest, at only 37 sen each, compared to grade B (39 sen) and grade A (41 sen). Ngwe said the situation stabilised again in March, but by April, there was shortage again due to the fasting month. For grade A and B chicken eggs, he said there were plentiful in the local market, with some exported to Singapore. As such, he urged traders to use grade A and B eggs as the price did not differ much.

According to Axiata’s Bursa Malaysia filings, Axiata’s share trade was halted between 9am and 10am on Wednesday in conjunction with the telecommunication towers purchase announcement. "Both SMART and DMPI are part of PLDT Group, Philippines’ largest fully integrated telco company. Axiata said ISOC edotco on Tuesday (April 19, 2022) entered into a sale and purchase agreement with SMART and DMPI for the acquisition of the telecommunication assets. In addition to the proposed leaseback transaction, ISOC edotco will build 750 build-to-suit (BTS) sites for leasing to SMART in the future. Besides helping ISOC edotco establish a platform to accelerate organic and inorganic growth, Axiata said the proposed acquisition of the Philippines telecommunication assets will give ISOC edotco, among others, exposure to a high-growth market.

ALSO READ: Traders pleased with brisk salesProf Mohd Fadhil said efforts to minimise food waste could be dampened by social media posts promoting the delicious dishes on offer at certain bazaars and eateries. “Traders should keep in mind the consequences of food waste, including its impact on the environment,” he said. Prof Mohd Fadhil, who is also an environmental engineering expert, said although food waste was biodegradable, when sent to landfills, it produced large amounts of carbon dioxide that contributed to climate change. He called for more efficient separation of household waste so food and other types of rubbish could be better managed. Site supervisor Jarrald Leroy, 33, said he was taking conscious steps to minimise food waste after some of his recent purchases from the bazaar went to waste.

ALOR SETAR: A riot at an immigration detention centre in Relau, Bandar Baharu in Kedah resulted in a massive prison break that saw about 500 detainees fleeing. The riot, which began as a protest around 5am on Wednesday (April 20) by around 650 Rohingya detainees, quickly got out of control. An insider told The Star that around 229 of them have been recaptured while around 10 have died. ALSO READ: 165 out of 528 escapees still on the loosePolice have deployed personnel to the centre to control the situation. It is understood most of the Rohingya there were previously detained in operations by various agencies in Langkawi.

Under the JV, KABTEL will hold a 60% stake in the JV company and MRH the remaining 40%. MRH, which is 99.9% owned by Mohamad Ezzul Na'im Mohd Roahizee and 0.1% by Mohd Rohaizee Hashim, operates a network of multi-operator telecoms towers and provides facilities and services relating to maintenance of telecoms towers, owns the telecoms structure and fibre for in building coverage. "The JV marks a significant milestone in the development of telecoms infrastructure and telecoms services business for the group's strategy on expanding the group's recurrent income in other ways," said KAB. "The term sheet is not expected to have any material effect on the group's earnings and earnings per share for the financial year ending Dec 31, 2022, but is expected to contribute positively to the group's future earnings and earnings per share," it added. "MRH has also entered into a memorandum of understanding with a local established telecoms operator for joint business participation and cooperation over digital connectivity and infrastructure development for the 1,342 sites," it added.

SYDNEY (Reuters) - Australia and the United States will revive the bilateral Duel in the Pool contest after a gap of 15 years in Sydney in August, Swimming Australia announced on Wednesday. The rivalry between the swimming powerhouses was revived at the Tokyo Olympics last year, where a resurgent Australia ran the United States close in the final medal tally. Titmus edged that race in dramatic fashion to claim one of nine gold medals Australia won in Tokyo, only two behind the American haul of 11. The third and last "Duel in the Pool" between the United States and Australia was contested in Sydney 2007, although the Americans later took on a team from Europe in four further editions. The original idea aimed to cash in on the rivalry between the countries at the 2000 Sydney Olympics, where Australia famously handed the United States men's team their first defeat in the 4x100m relay at a Summer Games.

KUALA LUMPUR (April 20): A total of 487,728 children aged five to 11 or 13.7% of the child population in the country had been fully vaccinated under the Covid-19 National Immunisation Programme for Children (PICKids) as of Tuesday (April 19). According to the COVIDNOW website, a total of 1,425,865 children in the same age group or 40.1% had received at least one dose of the vaccine. Follow our Covid-19 vaccination tracker to see where we are in the race to herd immunity. On Tuesday, a total of 47,612 doses of the vaccine were administered, comprising 35,398 second jabs, 4,635 booster shots and 7,579 first doses, bringing the cumulative number of vaccine doses dispensed under the National Covid-19 Immunisation Programme (PICK) to 69,742,922. Meanwhile, according to the Health Ministry's GitHub portal, 12 deaths due to Covid-19 were reported on Tuesday, with Perak recording the highest number at five fatalities, followed by Johor with three deaths.