Paper on disaster management improvement to be tabled in Cabinet, says Abd Latiff
PUTRAJAYA (Dec 29): A proposal paper on flood response and disaster management improvements will be tabled in the first 2022 Cabinet meeting on Jan 12. He said currently, some 40,813 personnel from various responding agencies were involved in flood operations nationwide, involving 3,419 combined assets, respectively. Commenting on the yellow alert of continuous rain issued by the Meteorological Department (MetMalaysia) on Tuesday, Abd Latiff advised residents in Sabah, Kelantan, Terengganu, Pahang, and Johor to always follow the weather developments issued by MetMalaysia only. “There are various information available on social media about weather forecasts and disaster warnings, but it can cause panic among the people. On Tuesday, MetMalaysia issued a yellow alert for continuous rain forecast for the states following the current monsoon surge, which is expected to continue until Jan 3 next year.
Source:The Edge Markets
December 30, 2021 00:47 UTC
Impiana Hotels plans to acquire 30% stake in fintech solution provider
KUALA LUMPUR (Dec 29): Impiana Hotels Bhd has proposed to acquire a 30% stake in fintech solution provider Accuventures Sdn Bhd for RM4.2 million. The hospitality operator said the purchase, to be satisfied via Impiana shares, will be split into two tranches: an initial 10% stake, followed by another 20% upon completion of various due diligence processes. Separately, the issuance of consideration shares as settlement of the purchase price will enable the group to conserve cash resources, it added. Impiana was the sixth most active stock on Bursa Malaysia on Wednesday, with 46.02 million shares changing hands. The counter closed one sen or 11.76% lower at 7.5 sen, valuing the company at RM108.3 million.
Source:The Edge Markets
December 29, 2021 22:08 UTC
BNM invites coin blank suppliers to get pre-qualified for 2022-2024 requirements
KUALA LUMPUR (Dec 29): Bank Negara Malaysia (BNM) has invited coin blank suppliers to be pre-qualified to supply coin blanks for the central bank’s requirements for 2022 to 2024. In a notice on its website, BNM said interested coin blank suppliers with adequate financial standing, required technical capabilities, technology, expertise and resources are invited to register a new account on its eTender platform to participate in this procurement. The platform is accessible via procurement.bnm.gov.my, with suppliers required to submit their business registration certificate and letter of authorisation from their principal. “Pre-qualification documents will be issued via BNM’s eTender platform to registered and authorised tenderers. “Duly completed responses to the pre-qualification documents must be submitted in the format specified in the pre-qualification documents via the eTender system by 5pm on Friday, Jan 14, 2022,” it said.
Source:The Edge Markets
December 29, 2021 17:02 UTC
Mercedes swept up in China Internet furore over model’s eyes
Emails and phone calls to Martin Sauber and Juan Zhou, the China press representatives of Daimler AG, were not immediately returned. Chinese Internet users have recently been debating the way that models’ eyes are shown in advertising. Chinese company Three Squirrels Inc recently apologised for ads featuring model Cai Niang Niang wearing make-up that accentuated the slant of her eyes, the South China Morning Post reported. The model hit back on the Twitter-like Weibo service, saying: “With small eyes, am I not Chinese? Its weak profitability has been a concern at Daimler for years even as sales of its Mercedes luxury vehicles continued to surge in China.
Source:The Edge Markets
December 29, 2021 13:19 UTC
GLOBAL MARKETS-Global stocks end mixed after record-setting session
WASHINGTON: European stocks rose on Tuesday while Wall Street shares closed mixed after another record-setting session in which investors shrugged off concerns over Omicron-driven travel disruptions and store closures. Asset classes http://tmsnrt.rs/2yaDPgn from oil to equities have clawed back losses from late November, when the Omicron variant of COVID-19 sent investors scurrying for safety. "Investors are digesting the gains from the last three days... but there are concerns such as 'How will the Omicron variant affect the market? The Dow Jones Industrial Average rose 0.26% while the S&P 500 lost 0.10%. The S&P 500 posted 81 new 52-week highs and no new lows; the Nasdaq Composite recorded 105 new highs and 264 new lows.
Source:The Star
December 29, 2021 10:10 UTC
Cambodia’s Cardamom Hills sees return of wild elephants and otters
“They have also been camera-trapped and seen in the area south of our concession.”The Cardamom Tented Camp is an ecolodge located in the foothills of Cambodia’s Cardamom Mountains. Forest rangers at the Cardamom Tented Camp in Cambodia have sighted the return of a small herd of elephants to its area. However, international tourists make up a bulk of the lodge’s clientele, and since the pandemic began, Cardamom Tented Camp has been closed to guests. More elephants, please Meanwhile, in northern Thailand, another elephant camp invites guests to stay in a bubble, literally. The Anantara Golden Triangle Elephant Camp & Resort features unique transparent rooms that are shaped like bubbles.
Source:The Star
December 29, 2021 04:41 UTC
Improving sentiment on CTOS Digital
PETALING JAYA: Investor sentiment on CTOS Digital Bhd continues to improve after the credit rating agency announced several corporate exercises that could accelerate its growth. Last Friday, CTOS proposed three corporate exercises – the first entails the buying of a 49% stake in Juris Technology Sdn Bhd for RM205.8mil. Kenanga Research estimated that CTOS is paying about 23 times FY21 price-to-earnings ratio (PER) for JurisTech. Kenanga Research added that the acquisitions would increase CTOS’ profits from its associates, lifting FY22 core net profit by 7%. Both RHB Research and HLIB Research retain their “buy’’ calls with target prices of RM2.42 and RM2.45 a share, respectively.
Source:The Star
December 28, 2021 13:29 UTC
Gains in global markets could provide upside impetus for Malaysian equities
Inter-Pacific said the gains in key global equity markets overnight could also provide some more upside impetus for Malaysian equities and window dressing activities are likely to continue ahead of the year-end. Still, it said the follow through buying strength remains to be seen as market participation has been thin of late. “Therefore, the market environment may become choppier following the strong gains over the past few sessions. Inter-Pacific said similarly, the lower liners and broader market shares are also poised for further gains due to the calmer market undertone. “However, their upsides could remain more modest due to the lesser market participation as most market players are still on their year-end break,” it said.
Source:The Edge Markets
December 28, 2021 07:04 UTC
Malaysia ready to become a global leader in Islamic fintech
The Islamic fintech sector is undergoing rapid digitalisation, matching the speed of the digital transformation of the global finance industry. According to Dinar Standard’s Global Islamic Fintech Report 2021, the Islamic fintech market is projected to grow to US$128 billion (RM542 billion) by 2025. Last year, the Islamic fintech transaction volume within the Organisation of Islamic Cooperation (OIC) countries was estimated at US$49 billion. With its impressive growth in the Islamic finance market, Malaysia is ready to capitalise on and serve the global Islamic fintech market. The country ranks first in market maturity and is one of the top five Islamic fintech markets based on transaction volume.
Source:The Edge Markets
December 28, 2021 06:13 UTC
What to do with flood-hit vehicles
PETALING JAYA: Mechanics have their hands full repairing vehicles that were damaged in the massive floods that hit several states. In level one, the water level only reached the carpet. “Car owners can easily handle this situation themselves by taking out the carpets and washing them. “It would be better if they put their vehicles under the hot sun for about three to four days to let the car interior dry thoroughly,” he said in an interview. “It would be great if the community can help each other and share information on how to fix their vehicles which suffer from level one or two damage,” he said.
Source:The Star
December 28, 2021 05:14 UTC
Jeneath ends year with a bang
PETALING JAYA: Up-and-coming golfer Jeneath Wong capped a splendid year with more outstanding results Down Under. At the Port Phillip Open Amateur, Jeneath carded rounds of 78-68-75-79 for a 300 total to finish one stroke behind Australia’s Kelsey Bennett. Despite the narrow miss, Jeneath would not be denied of her sixth victory of the season at the Sandbelt Invitational. Jeneath posted 80-77-73-73 for a 303 total to be crowned the women’s amateur winner by eight shots ahead of Belinda Ji. Jeneath’s four other victories were from the Victorian Junior Amateur, Riversdale Cup, Australian Girls’ Amateur and Murray River Junior Masters.
Source:The Star
December 28, 2021 05:06 UTC
Techna-X plans backdoor listing of capacitor tech unit
KUALA LUMPUR (Dec 27): Techna-X Bhd has proposed a backdoor listing of its 50%-owned Chinese capacitor technology company via Singapore-listed F&B group Chaswood Resources Holdings Ltd. The exercise values the capacitor technology company, HK Aerospace Beidou New Technology Co Ltd (HKAB), at US$500 million. Should the backdoor listing plan go through, Techna-X and the parties acting in concert will propose to waive the obligation to undertake a mandatory general offer for the remaining Chaswood shares. They will also be subject to a six-month moratorium from trading the Chaswood shares. Shares of Techna-X settled unchanged at 8 sen on Monday (Dec 27), giving the group a market capitalisation of RM162.55 million.
Source:The Edge Markets
December 28, 2021 02:28 UTC
Covid-19: 429 cases detected among flood victims, says Health DG
KUALA LUMPUR: A total of 429 Covid-19 cases were detected among flood victims involving 11 cases at temporary evacuation centres (PPS) as of 3pm Monday (Dec 27), says the Health Ministry. Health director-general Tan Sri Dr Noor Hisham Abdullah said the first cluster involving transmissions among flood victims, at a PPS in Bentong, was reported today. Dr Noor Hisham said 99 infectious disease cases were also detected among flood victims, involving 51 cases of acute respiratory infection (ARI), 39 cases of skin disease and nine cases of acute gastroenteritis. "The average number of cases requiring treatment in the ICU showed a decrease of 12% from 316 cases (50th ME) to 277 cases (51st ME). "The average number of cases that require respiratory assistance also showed a decrease of 10.6% from 140 cases (50th ME) to 125 cases (51st ME)," he said.
Source:The Star
December 27, 2021 21:14 UTC
Omicron and the Winter Olympics – is China’s zero-Covid strategy up to the challenges?
So far China has reported nine Covid-19 cases caused by the Omicron variant, including two who were infected by a man returning from Canada. Experts say China is at a greater risk of Omicron outbreaks and, although the zero-Covid approach might still work against the new variant, gaps need to be plugged and resources allocated to meet the greater challenge. However, studies indicate that primary immunisation is not enough to protect people against the Omicron variant. As fast as health authorities have moved in the era of the Delta variant, Omicron could mean they will have to move even quicker. Sinovac said three doses of its vaccine would offer protection against Omicron but the company released few details.
Source:The Star
December 27, 2021 17:53 UTC
Ringgit to continue uptrend against the greenback this week
KUALA LUMPUR: The ringgit is expected to extend its uptrend momentum against the US dollar this week, riding on positive market sentiment as fears over Omicron subside. He said, to some degree, it would also bolster the case for higher interest rates in both Malaysia and the United States next year. So the ringgit might flirt around that level next week,” he told Bernama. It rose against the Singapore dollar to 3.0887/0954 from 3.0899/0919 last Friday, strengthened vis-a-vis the Japanese yen to 3.6660/6702 from 3.7139/7160, and firmed against the euro to 4.7567/7618 from 4.7805/7828 in the previous week. However, it depreciated against the the British pound to 5.6226/6287 compared with 5.6180/6203 on Friday last week.
Source:The Star
December 27, 2021 13:04 UTC