Barbers, goldsmiths still have worker shortage, says Ramanan
KUALA LUMPUR: Barbers and goldsmiths in the country are among the sectors still experiencing a shortage of workers, said Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan. However, he said his team would not make any announcement on behalf of the Ministry of Human Resources but would instead request an explanation from its minister, Steven Sim Chee Keong on this issue. ALSO READ: Foreign worker recruitment guidelines released for barber, goldsmith and textile shopsIn September, the Cabinet agreed to open a recruitment quota for 7,500 barbers, textile workers and goldsmiths in the service subsector. This followed Prime Minister Datuk Seri Anwar Ibrahim's announcement to reopen the recruitment of foreign workers for the three service subsectors which had previously been frozen since 2009. He said it included Program Pemerkasaan Usahawan Wanita (Puan), Skim Pembiayaan Ikhtiar (SPI), UDA Bizznita, TEKUNNita, as well as Successful Women Entrepreneurship Engagement Talent (Sweet).
Source:The Star
January 21, 2024 13:02 UTC
‘Sweeter’ prospects for MSM this year
SHARES of MSM Malaysia Holdings Bhd have been on a steady uptrend since early November, closing over 50% higher at RM1.93 yesterday, with a market capitalisation of RM1.36bil. In a note to clients on Jan 18, AmInvestment Bank said the stock was trading above the 20-day exponential moving average (EMA), “reinforcing its upward trajectory”.
Source:The Star
January 20, 2024 08:00 UTC
International funds likely to return
On Monday, the FBM KLCI closed at 1,501.11 points, the second time since Aug 30, 2022 to settle above the psychological support barrier of 1,500. At the same time, chief executive of Areca Capital Danny Wong believes the dip in the FBM KLCI is a short-term reaction to Chinese economic data which would naturally have affected investor sentiment. “The FBM KLCI’s decent valuations coupled with subsided political risks in Malaysia further enhance market confidence that the government would focus on growth. Meanwhile, some 6.1 billion shares were traded on the FBM KLCI yesterday, with losers by far outstripping gainers by 748 to 234, as 504 counters remain unchanged. “After all, foreign investors are almost out of the market and local institutions have stopped selling at the end of 2023.
Source:The Star
January 19, 2024 15:02 UTC
Shanghai singles struggle to marry as economy slows
SHANGHAI: Victor Li is determined to get married soon, but like many other young Chinese grappling with an uncertain economic outlook, the well-heeled Shanghai entrepreneur isn’t sure he can afford to. “It’s very expensive for us to get married, especially in a big city like Shanghai,” the 32-year-old said, as he took a break from a ticketed networking event for wealthier, top university-educated singles at an upmarket Shanghai jazz bar. “In terms of financial ability, it actually puts a lot of pressure on young people, including me.”As the world’s second biggest economy slows, an increasing number of people are opting to stay single, or delay marriage, due to poor job prospects amid record youth unemployment and chronically low consumer confidence, leading to a record slump in marriage registrations in 2022. Julia Meng, whose company Julia’s Events organised the Shanghai singles event, said an increasing number of people aged 35 and older had effectively “given up” on marriage. Younger Chinese, like event attendee Jack Jiang, say they want to get married, but high housing prices, uncertain job prospects and the general economic situation isn’t helping.
Source:The Star
January 18, 2024 11:30 UTC
Gearing up for anticipated air travel surge
PETALING JAYA: Several airlines here have begun moves to increase the number of pilots and ground crew in anticipation of higher demand for air travel in 2024. “Usually an airline will increase the number of pilots and co-pilots depending on the number of airplanes being operated. “We are focusing on the hiring and training plan to ensure our needs for pilots, cabin and ground crew is fulfilled to cater for the increase in air travel,” he added. Currently, Batik Air has 459 pilots, 730 cabin crew and 500 ground crew. Iata had forecast that demand for air travel in 2024 would reach 4.7 billion people, a historic high of about 4% more than the 4.5 billion people who flew in 2019 before the Covid-19 pandemic.
Source:The Star
January 13, 2024 14:48 UTC
IJM expands with warehousing investment in Malaysia and UK property acquisition
PETALING JAYA: IJM Corp Bhd has announced two significant property developments – an additional investment in Malaysia's warehousing logistics sector and the acquisition of a property site in the United Kingdom (UK). IJM said the first phase of SAILH, which commenced construction inSeptember last year, includes a four-storey warehouse complex, multi-level parking and office space with ancillary buildings. IJM's SAILH investment follows a RM653.6mil construction contract win by its construction arm, IJM Construction, in June last year, and showcases the synergies between the group’s construction and property repertoire. “This decision not only expands IJM's industrial property portfolio, focusing on high-value assets that generate recurring income, but also reflects our expertise in infrastructure and construction. “These investments in Malaysia and the UK reflect our strategic vision to strengthen IJM's footprint in the logistics sector and international property development.
Source:The Star
January 12, 2024 21:39 UTC
MCMC committed to ensure telcos do not charge extra for 5G access
PETALING JAYA: The Malaysian Communications and Multimedia Commission (MCMC) will ensure mobile network providers do not charge for 5G access. The MCMC corporate communications team said Communications Minister Fahmi Fadzil's announcement that telcos will not impose additional charges for 5G network access is in line with the government's continuous efforts to provide fair access to technology for all Malaysians. As of Dec 31, the MCMC said 5G network providers have achieved 80.2% coverage in residential areas. It also said any complaints regarding 5G charges can be made through the MCMC consumer portal at http://aduan.mcmc.gov.my or 1-800 188 030. Fahmi on Jan 9 said telco companies notified him of their decision not to impose charges for 5G access.
Source:The Star
January 11, 2024 16:11 UTC
Enough of the plot game!
IT doesn’t matter where the move to topple the unity government is made – Dubai, Chow Kit or Timbuktu. And if it’s real, then Malaysia doesn’t need it. Such talk gives rise to the perception that Malaysia is not politically stable which will only lead to foreign investors not committing to any ventures as any change of government can only bring a shift in policies.
Source:The Star
January 11, 2024 15:19 UTC
Genting Malaysia plans US$100mil equity injection into Empire Resorts
PETALING JAYA: Genting Malaysia Bhd will be injecting up to US$100mil into Empire Resorts Inc via its subsidiary, Genting ER II LLC (GERL). In a filing with Bursa Malaysia, the company said the proposed injection involves subscribing to US$100mil worth of Series M Preferred Stock of Empire by Genting Malaysia’s subsidiary. Empire Resorts, a Delaware corporation engaged in hospitality and gaming, operates businesses such as Resorts World Catskills (RWC), Resorts World Hudson Valley (RWHV) and mobile sports betting in New York. “The proceeds from the Series M subscription will be utilised by Empire for working capital purposes and to fully repay an existing bank facility of approximately US$58mil held by its holding company, GERL.”Genting Malaysia said the proposed equity Injection will enable Empire to further optimise its capital structure by reducing financial leverage and correspondingly interest expense at Empire and/ or GERL. “In addition, this will allow a quicker ramp up for RWHV and enable Empire to continue its focus on strengthening RWC’s operating performance to realise its full potential,” it said.
Source:The Star
January 10, 2024 23:55 UTC
FBM KLCI drops 10pts after 5-day winning streak
At 12.30pm, the benchmark FBM KLCI had fallen 10.3 points to 1,488.53 while the number of decliners on the broader market dwarfed gainers 611 to 280. Trading volume on the market, however, remained healthy with 3.02 billion shares done for RM1.37bil. PETRONAS Chemicals lost eight sen to RM7.02 while Tenaga Nasional fell six sen to RM10.50. Of actives, Hong Seng was flat at 2.5 sen, TWL gained 0.5 sen to five sen and Fintec was down 0.5 sen to one sen. South Korea's Kospi dropped 0.7% to 2,543 while China's composite index shed 0.2% to 2,887 and Hong Kong's Hang Seng fell 0.4% to 16,122.
Source:The Star
January 10, 2024 22:17 UTC
Iskandar Malaysia sets new investment target
JOHOR BARU: Iskandar Malaysia has set a new cumulative investment target of RM636bil for 2030 after hitting its initial target almost three years ahead of time. “The success of Iskandar Malaysia in achieving its investment target three years in advance shows that the region and Malaysia in general offer various competitive advantages that continue to attract investors’ interest and trust. “A new target has been set to achieve RM636bil in cumulative investments in the next seven years. Badrul Hisham added that domestic investments contributed 55% of the cumulative investments recorded so far, while the rest were foreign investments. “We will play a more significant role in facilitating investment, especially through the Iskandar Malaysia Investment Service Centre.
Source:The Star
January 10, 2024 07:06 UTC
Outperforming the FBM KLCI wager
“The two major themes for the year include acceleration of foreign visitations and tourism consumption recovery following the conclusion of the pandemic. It said the casino sub-sector would be the direct beneficiary of higher inbound patronage, benefiting GenM and Genting. “The sector’s lush dividend yield of 5% to 10% also remains appealing,” the research house explained. It maintained a “buy” recommendation on GenM and Genting with target prices of RM3.50 and RM5.78 respectively. The research house said its top pick for the sector is Genting as it is strategically positioned to capitalise on the recovery momentum of Genting Singapore and GenM.
Source:The Star
January 08, 2024 21:46 UTC
Pangkor Island seafood restaurant gets anti-profiteering notice for overcharging
IPOH: A seafood restaurant in Teluk Nipah on Pangkor Island has been slapped with anti-profiteering notices for allegedly over-charging its customers. Perak Domestic Trade and Cost of Living Ministry director Datuk Kamalludin Ismail said after two days of investigations at the restaurant and several other premises in Teluk Nipah, the eatery was found to have not put price tags on its seafood. "The restaurant also did not use any weighing machine and had only put out the price tags when our uniformed officers came to check on Sunday (Jan 7). "The department is always committed and will work with other enforcement agencies to ensure traders adhere to the rules. "Consumers are also urged to be the eyes and ears for the department and to inform us of any wrongdoings by the traders.
Source:The Star
January 08, 2024 05:48 UTC
Education Ministry probing viral video of pupil being bullied
KUALA LUMPUR: The Education Ministry is conducting an investigation into a viral video that shows a school pupil being bullied to ensure that action is taken and the matter is resolved immediately. "The school is also requested to ensure that disciplinary action is taken against the guilty pupil(s) and recorded. The ministry will not tolerate bullying in educational institutions," according to the statement. The video shows a teenager sitting on another as they wrestle in some bushes. The cooperation of the whole community is also requested to not normalise the misconduct of bullying," according to the ministry.
Source:The Star
January 06, 2024 21:04 UTC
Govt blacklists company that brought in 171 Bangladeshi workers
PETALING JAYA: The government has blacklisted a company that brought in 171 Bangladeshi nationals into the country with promises of jobs in Johor but failed to find them employment. He also said the company's conditional approval letter was hereby revoked with no refunds on levies paid, and its remaining quota of foreign workers cancelled. "Actions are being taken to ensure that employers fulfill their responsibilities towards foreign workers," read the statement on Saturday (Jan 6). He added that both ministries would monitor and inspect employers who bring in foreign workers through the Foreign Worker Employment Flexibility Plan. Saifuddin said a special meeting was also scheduled between the two ministers on Jan 16 to discuss a Cabinet proposal to freeze foreign worker employment quota applications and other measures to improve the governance of foreign worker employment in the country.
Source:The Star
January 06, 2024 20:58 UTC