China Evergrande bondholders receive overdue bond coupon payments
HONG KONG: Several bondholders of China Evergrande Group have received coupon payments from the indebted property developer, a source with knowledge of the matter said on Thursday, easing concerns about a potentially destabilising default. Shares of Evergrande listed in Hong Kong jumped over 9% by mid-morning on relief the latest deadline was met. The company, which also has coupon payments totalling more than $255 million due on Dec. 28, has come under pressure from a liquidity crisis that has weighed on the sector and threatens hundreds of projects. The market is also watching rival Kaisa Group, which has coupon payments totalling over $59 million due on Thursday and Friday. Kaisa has the most offshore debt of any Chinese developer after Evergrande.
Source:The Star
November 11, 2021 09:29 UTC
Carriers yet to agree on 5G network use
However, state-owned network wholesaler Digital Nasional Berhad (DNB) told Reuters it still hoped to launch 5G services in three urban centres, as talks continue with mobile operators. The country, a regional laggard in 5G rollout, unveiled a plan for a single shared network in February, hoping it would help accelerate nationwide infrastructure buildup. Carriers, which had already invested in infrastructure upgrades to support 5G services, are concerned the 5G network plan would result in a nationalised monopoly, hurting their business and limiting their access to future technology, said seven current and former industry sources. “By 2030, the majority of the network will be on 5G, then there are enforced limitations on our existing (non-5G network) assets,” one of the sources said. DNB chief operating officer Dushyan Vaithiyanathan said the plan would likely cost only around RM16.5bil, around half the RM30bil-RM35bil carriers would have needed to spend to build the 5G network themselves.
Source:The Star
November 11, 2021 08:52 UTC
From Kenya to COP26: How this teen is battling climate change
For teenage climate campaigner Rahmina Paulette, the journey to becoming an environmental activist began with a cancelled boat ride. Her first step was to set up a business selling water hyacinth furniture, table coasters and bags. She launched a campaign called Let Lake Victoria Breathe Again, working for the restoration of the lake's ecosystems, with online petitions and offline marches. Now the murky water is frequently blanketed with the water hyacinth infestation and suffers from pollution and harmful algae blooms that can be toxic to fish. "Right now, if you can go back to Lake Victoria, you'll see many plastics, many waste and you'll see dead fish," she said.
Source:The Star
November 11, 2021 03:07 UTC
Health Ministry: Unregistered products worth more than RM6mil seized
KUALA LUMPUR (Bernama): The Pharmaceutical Enforcement division of the Health Ministry seized more than RM5.8mil worth of unregistered products in raids conducted at 666 premises since 2019 until this month. The ministry’s Senior Director of Pharmaceutical Services, Norhaliza A Halim said raids were also carried at 187 premises selling vitamin C injections during the period, which resulted in the seizure of RM278,202 worth of products. She said ongoing inspections and raids, especially in hot spot locations, were conducted to curb the sale of unregistered health products, including strong drugs and vitamin C injections. She described as inaccurate reports published by a newspaper recently on allegations of widespread sale of health products and medicines in the market. Norhaliza said monitoring of unregistered drugs, including strong drugs and vitamin C injections sold online, was being intensified and there were advertisements, as well as sales of products on e-commerce platforms having ordered to be taken down.
Source:The Star
November 10, 2021 23:32 UTC
Omesti expands healthcare division with further investments in Bemed Group
KUALA LUMPUR (Nov 10): Technology group Omesti Bhd said on Wednesday that it has increased its investment in the Bemed Group of companies with the acquisition of a 70% shareholding in each of nine other Bemed pharmaceutical businesses, and the investment represents a total cash consideration of RM15.8 million. Earlier this year, Omesti acquired a 70% shareholding in licensed healthcare provider Bemed Tempua Sdn Bhd, which holds a master sales and distribution agreement for the Sinovac Covid-19 vaccine with Pharmaniaga LifeScience Sdn Bhd. The Bemed companies that form part of the group’s latest acquisition are engaged in various activities, including trading and retail sale of pharmaceutical products, orthopaedic and medical goods, perfumery products, cosmetics and toiletries. Omesti executive director Gerard Monteiro said in a statement that the additional investment in the Bemed Group will enable Omesti to further expand its portfolio of healthcare services and its customer base. Omesti shares closed one sen or 2.38% lower at 41 sen on Wednesday, valuing the group at RM224.08 million.
Source:The Edge Markets
November 10, 2021 21:57 UTC
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5G service operator DNB successfully integrates five MNOs into its 5G network
KUALA LUMPUR (Nov 10): Sole 5G wholesale service operator Digital Nasional Bhd (DNB) on Wednesday (Nov 10) successfully integrated five mobile network operators (MNOs) into its 5G network. "Each operator operates its own core network, including one or more independent nodes. Additionally, Marshall added that later next year, DNB's 5G network will be able to integrate up to 12 networks. Meanwhile, DNB chief commercial officer Ahmad Taufek Omar explained that DNB is charging MNOs for its 5G network only as a form of cost recovery. However, the exact figure DNB is set to charge MNOs for the 5G network remains undisclosed.
Source:The Edge Markets
November 10, 2021 19:37 UTC
SCIB inks settlement to terminate contracts in Qatar, Oman
KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) and its subsidiary SCIB International (Labuan) Ltd have entered into settlement agreements with clients and subcontractors for the mutual termination of contracts to mitigate risks arising from long-overdue debts and Covid-19 uncertainties.SCIB said the decision was arrived at by the stakeholders after considering that the progress of the projects, undertaken in Qatar and Oman, was greatly affected by manpower issues caused by the Covid-19 pandemic.There were also prolonged pandemic, travelling and operational restrictions posing challenges to the project management as well as slow payment and long outstanding debts owed by the clients.According to the settlement agreement, SCIB will receive a combined total of US$148.71mil from the clients as full and final settlement of the amount owing.Concomitantly, SCIB will settle its debts owing to the subcontractors via a combined payment of US$135.15mil.Following these payments, there will be no imposition of any further claims or damages upon SCIB after the cut-off date. "The company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB’s interests in mitigating the risks arising from the long-overdue debts owing by the clients and the uncertainties surrounding the Covid-19 Pandemic. "Additionally, this decision was made as a result of repositioning of business strategy in overseas projects," said SCIB in a filing with Bursa Malaysia.It added that the final claims in the settlement agreements are consistent with the provisions taken up in the accounts, hence there will not be any material effect on the gearing, earnings per share and net assets of SCIB for the financial year ending June 30, 2020.
Source:The Star
November 10, 2021 18:09 UTC
Khairy: Govt has started administering Covid-19 booster shots to M'sians above 40 years of age
PETALING JAYA: The Health Ministry has started giving out booster shots to those aged 40 years old and older under the National Covid-19 Immunisation Programme, says Khairy Jamaluddin. The Health Minister said the booster shots will first be given to eligible Malaysians who are above 40 years old and those who have comorbidities. “When you receive an appointment through the MySejahtera app, please make sure that you are present to get the booster shot. In another development, Khairy also said that around 40% of people getting their vaccine booster appointment dates under the National Covid-19 Immunisation Programme (PICK) are not showing up for the jab. Hence, he urged those who had received their appointment dates to go and take the jab, as it will strengthen their immunity and protection against Covid-19.
Source:The Star
November 10, 2021 17:25 UTC
Beware of TikTok DIY hacks that could wreck your home
Interior design fans can't get enough of TikTok, it seems, where a host of influencers share their sometimes surprising tips, tricks and DIY hacks. Is TikTok a good source of DIY and home makeover tips? The result is that nearly 40% of TikTok DIY hacks were rated as terrible or bad because of a poor finish or safety issues. Indeed, certain hacks, which are harmful in the long term, are being used massively.Some of the most popular DIY trends on TikTok that are not recommended include stick-on tiles. People looking to create a tile effect in their home can also consider using floor stencils – another DIY trend popular on TikTok.
Source:The Star
November 10, 2021 11:41 UTC
Give your toe a break, avoid torturing it
DO not underestimate the agony of trying to walk while a poorly clipped nail is slicing into the swollen, suppurating flesh of your big toe. While this rule applies to all nails, it’s most important for your big toe. Cancer patients are also more likely to have problems with ingrown nails. When the nail grows into the skin of the toe, the affected area becomes inflamed and painful. A visit to the family doctor’s office is also advisable if the ingrown nail is accompanied by fever and exhaustion.
Source:The Star
November 10, 2021 09:08 UTC
Excited to head home under VTL
JOHOR BARU: Malaysians working in Singapore are excited to be able to head home soon under the Vaccinated Travel Lane (VTL) after being away from their family for close to two years. “The VTL will make things so much easier for me as I do not have to waste time and money on home quarantine. On Monday, Malaysia and Singapore announced the reopening of their mutual border with the VTL between Kuala Lumpur International Airport and Changi Airport from Nov 29. “I would wait for the land borders to reopen before making plans to visit my parents and sister who are living in Johor Baru. “Since VTL for air travel has been introduced, I hope there will be VTL for land links soon for people whose families are in Johor to reunite easily,” said the 38-year-old.
Source:The Star
November 10, 2021 09:08 UTC
New treatments for Covid-19
I HAVE been hearing a lot about the new Covid-19 treatments. How are these drugs different from the Covid-19 vaccines?Well, these anti-viral treatments actually fight the SARS-CoV-2 virus that is already inside our body by inhibiting replication, thus ultimately killing the infection and its spread. What about the drug from Pfizer?Studies on this drug claim that it reduces the development of severe Covid-19 and hospitalisation by as much as 90%. They are usually given to patients who have severe Covid-19 symptoms. Contrast that against the dangers of severe Covid-19, and it is a safe bet to say their benefits far outweigh any potential side effects.
Source:The Star
November 10, 2021 06:38 UTC
Nobel Peace Prize winner Malala marries at home in Britain
LONDON (Reuters) - Malala Yousafzai, the campaigner for girls' education and Nobel Peace Prize laureate who survived being shot aged 15 by a Taliban gunman in her native Pakistan in 2012, has got married, she said on social media on Tuesday. Asser and I tied the knot to be partners for life," she wrote on Twitter, adding four pictures to her post. Internet users identified him as Asser Malik, general manager of the Pakistan Cricket Board's High Performance Centre. As recently as July this year, Malala told British Vogue magazine that she was not sure if she would ever marry. The comment drew criticism from many social media users in Pakistan at the time.
Source:The Star
November 10, 2021 06:15 UTC
It’s Covid-19, not Undi18
KUCHING: The ruling Gabungan Parti Sarawak (GPS) coalition is seeking to hold the state election now rather than next year due to concerns over the possible emergence of new Covid-19 variants, says Chief Minister Datuk Patinggi Abang Johari Tun Openg. He said it was not due to fears of 18 to 21-year-olds being able to vote from January onwards with the implementation of Undi18. In fact, the GPS government amended the state constitution to be in line with Undi18. Abang Johari said it was better to go back to the people for a fresh mandate now while the Covid-19 situation was manageable. Opposition parties had claimed that GPS was rushing to hold the polls to avoid Undi18.
Source:The Star
November 10, 2021 05:24 UTC
Aneka Jaringan’s Indonesia subsidiary bags RM14 mil contract
KUALA LUMPUR (Nov 9): Basement and foundation construction specialist Aneka Jaringan Holdings Bhd’s Indonesia subsidiary PT Aneka Jaringan Indonesia has accepted a contracting job in Indonesia on Monday, Nov 8, according to a bourse filing on Tuesday (Nov 9). The filing stated that the company was contracted by PT Risland Sutera Property to perform piling and pile test works for the Sky House Alam Sutera+ Project Phase 2. The price of the contract is IDR48.75 billion inclusive of value-added tax, which is equivalent to approximately RM14.24 million. The contract is expected to commence on Nov 11, 2021 and shall be completed by March 20, 2022. The company said that this contract will not have any effect on its share capital and shareholding structure but expects it to contribute to the company’s consolidated earnings and net assets for the financial year ending Aug 31, 2022, during the duration of the contract.
Source:The Edge Markets
November 10, 2021 00:39 UTC