Bill to amend Employment Act tabled in Parliament
KUALA LUMPUR (Bernama): A bill to amend the Employment Act to insert a new section on paternity leave was tabled in Parliament on Monday (Oct 25). It was tabled for the first reading by Human Resources Minister Datuk Seri M. Saravanan. It is also to provide for protection against discrimination and forced labour as well as to include provisions for maternity benefits. Among the amendments proposed in the bill was to amend section 99A of the Employment Act to increase the amount of penalty from RM10,000 to RM50,000 for any offences under the law. (2) the paternity leave under subsection (1) shall be restricted to five confinements irrespective of the number of spouses.- Bernama
Source:The Star
October 25, 2021 09:16 UTC
Malaysia urges WHO to address vaccine inequity immediately
PUTRAJAYA: Malaysia has called on vaccine inequity to be addressed immediately with more equitable distribution and dose delivery swapping by countries that have excess supply. Khairy said understanding the importance of transparent sharing and real-time data, Malaysia uploads comprehensive data sets daily for anyone to access. At the meeting, Malaysia also raised what has been described as the silent “parallel pandemic” – the deterioration of mental health, especially among young people. “Lockdowns, movement restrictions together with unemployment and financial security have led to a spike in the number of people seeking mental health support across the globe. Malaysia has launched a strategic plan for mental health, highlighting inter-sectoral collaboration and crisis preparedness in addressing mental health issues including suicide and suicidal behaviours; as well as surveillance for early detection of cases that would allow prompt monitoring and timely intervention.
Source:The Star
October 25, 2021 08:58 UTC
Wong Chun Wai: KSI lifetime achievement award a tribute to colleagues, The Star
GEORGE TOWN: Receiving the KSI Strategic Institute For Asia Pacific (KSI) lifetime achievement award is a tribute to colleagues and The Star, says Datuk Seri Wong Chun Wai. The Star Media Group advisor - who is one of the award's four recipients - said that the award is more than a personal tribute. "The award recognises the professional support and cooperation my colleagues in The Star have provided during my career with the company. The other recipients were Farlim Group Tan Sri Lim Gait Tong, Aspen (Group) Holding Limited executive deputy chairman Datuk Seri Nazir Ariff, and Penang Heritage Trust vice-president Khoo Salma Nasution. Among the VIPs present were KSI president Tan Sri Michael Yeoh, MICCI chairman Michael Crombrugge, and WOU chairman Tan Sri Dr Koh Tsu Koon.
Source:The Star
October 25, 2021 08:24 UTC
MBPJ to repair damaged path at Astaka field
StarMetro’s report on Oct 19. PETALING Jaya City Council (MBPJ) has issued a directive to its Landscape Department to get the damaged walkway at the Astaka Sports Complex field repaired. In reply to StarMetro’s report titled “Damaged paved path at Astaka field a risk to users” on Oct 19, MBPJ said in a statement that a small part of the pedestrian walkway was damaged by a fallen tree. StarMetro highlighted the issue after residents complained of the damaged walkway. MBPJ had paved the walkway earlier this year.
Source:The Star
October 25, 2021 07:31 UTC
Matrix Concepts introduces 'Pan-Fried Sotong Game'
PETALING JAYA (Oct 25): Matrix Concepts Holdings Bhd will be hosting a digital marketing campaign called “Pan-Fried Sotong Game” that revolves around a fun-filled Malaysian adaptation of South Korean survival drama television series Squid Game, made more fun with colloquial references. The three-week game challenge, which will go live on Matrix Concepts’ Facebook page, will be held on Oct 30, Nov 6 and Nov 13 at 2pm. "To join the main game session, participants have to follow and like the Facebook page of Matrix Concepts and register for a pre-game session called “Stop the Guli”. This will also help to verify whether they are qualified to enter the main game session, and if qualified, a confirmation letter will be sent to them via email." Matrix Concepts revealed that each player would have to go through nine rounds of the game session split into three consecutive Saturdays (Oct 30, Nov 6 and Nov 13).
Source:The Edge Markets
October 25, 2021 07:03 UTC
Supermax warns of 'material effect’ on its financials if sales diversion less than successful after US detention order
The duration of the WRO will also determine the extent of the adverse impact on Supermax’s financial performance, it said in a Bursa Malaysia filing. "The company does not foresee any material impact operationally,” Supermax said. "CBP issued a WRO against Supermax Corp and its subsidiaries based on information that reasonably indicates their use of forced labour in manufacturing operations. CBP identified 10 of the International Labour Organization’s indicators of forced labour during its investigation,” the CBP claimed. Supermax has 2.6 billion issued shares, according to its latest financial report.
Source:The Edge Markets
October 25, 2021 06:25 UTC
Yinson to establish Islamic MTN programme of up to RM1 billion
KUALA LUMPUR (Oct 25): Yinson Holdings Bhd has made a lodgement with the Securities Commission Malaysia (SC) for the establishment of the Sukuk Wakalah Programme of up to RM1 billion based on the syariah principle of Wakalah Bi Al-Istithmar. In a bourse filing on Monday (Oct 25), Yinson said the first issuance under the Sukuk Wakalah Programme shall be made within sixty business days from the lodgement date of Oct 22 (last Friday). It said the programme is structured based on the syariah principle of Wakalah Bi Al-Istithmar and had been assigned ratings of A+IS and A1 by Malaysian Rating Corp Bhd (MARC) and RAM Rating Services Bhd respectively. Yinson said proceeds raised from the issuance of sukuk wakalah under the programme will be utilised for the following syariah-compliant purposes:(i) defraying fees, costs and expenses in relation to the issuance of the sukuk wakalah and Sukuk Wakalah Programme;(ii) working capital;(iii) refinancing of existing financing/borrowings; and(iv) general corporate purposes. At 9.36am on Monday, Yinson had added three sen or 0.52% to RM5.85, valuing it at RM6.43 billion.
Source:The Edge Markets
October 25, 2021 04:40 UTC
Reforming tax system to boost recovery
Despite the more optimistic outlook, any increase in tax revenue from the economic recovery will likely take time. The theme of Budget 2022 will centre around the 3 Rs, namely Recovery, Resilience and Reform. Unfortunately, the current tax system has leakages and too much tax is borne by a narrow base of compliant taxpayers. In formulating Budget 2022, the government will have to deal with pressures from many angles – from politics, public finance to global competition. With the huge expenditure on Covid-19 stimulus packages, striking a balance in Budget 2022 will be challenging.
Source:The Star
October 25, 2021 02:04 UTC
Ipoh Chemistry teacher V. Komathy wins Global Teacher Award 2021
IPOH (Bernama): Chemistry teacher V. Komathy, from SMK Ave Maria Convent here, has won the Global Teacher Award 2021 - an annual awards event organised by AKS Education. Among the innovative products are Chem-Ester Kit: Chem-Ester Kit 2.0, namely a PdPC Chemistry product and Biomass Activated Carbon (BAC) for Toxic Dyes Removal: Towards a Sustainable Environment, which is a product for the application of chemistry knowledge in problem solving. Komathy said Chem-Ester Kit: Chem-Ester Kit 2.0 is a guidance module in the form of a game card and is designed to increase students' mastery of writing molecular formulas, structures, naming of alkane compounds, alkenes, alkanes, alcohols, carboxylic acids and ester. According to her, BAC for Toxic Dyes Removal: Towards a Sustainable Environment is an innovation that aims to develop biomass activated carbon from three agricultural wastes, namely sugarcane fibre, coconut husk and banana peel to remove toxic dyes from contaminated water. She said the awards received previously and this Global Teacher Award 2021 would be a motivation to educate, produce a more advanced nation and to continue making various innovations in the subject of chemistry.
Source:The Star
October 24, 2021 22:46 UTC
Positioning for market recovery in 2022
This is positive for the domestic economy as the Klang Valley is estimated to contribute around 40% to Malaysia’s GDP. In addition, interstate travel and tourism activities have been allowed to resume as the vaccination rate for adults has reached 90%. We expect the government to continue with an expansionary budget for 2022 to support the recovery of the domestic economy. Malaysia’s corporate earnings growth peaked at the end of the first quarter of 2021 and has come down since then. As the vaccination rate continues to rise, we should start seeing a decrease in the number of Covid-19 patients requiring hospitalisation.
Source:The Edge Markets
October 24, 2021 19:46 UTC
Modest preparations for Deepavali in Negri Sembilan
However, most of them have opted for modest preparations due to the ongoing Covid-19 pandemic. A visit by Bernama to Little India along Jalan Yam Tuan, here, found that shoppers are making early preparations to avoid congestion that often occurs the last few days before Deepavali. Housewife G. Shanti, 57, from Kuala Pilah said she and her family preferred doing Deepavali shopping early to avoid huge crowds. G.Risha, 17, from Mantin said she decided to spend prudently in preparing for this year’s Deepavali. He said that following the current challenging economic times, many people chose to spend prudently, especially during the festive season.
Source:The Star
October 24, 2021 18:13 UTC
Asia stocks hurt as profit forecasts at 12-year low versus world
Goldman cut its projections for earnings-per share growth of MSCI Asia Pacific excluding Japan Index members to 32% for this year and 9% for the next, down from previous forecasts of 34% and 11%. Chinese stocks are the region's worst performers this year, a key reason for Asia's underperformance versus global peers. "China will be quite closed particularly provincially until the Olympics and that could damp growth," Sean Taylor, Asia Pacific chief investment officer at DWS told Bloomberg Television. The MSCI Asia Pacific Index is little changed for the year, versus a gain of at least 18% for its US and European counterparts. production and shipping bottlenecks show little signs of abating", said Marcella Chow, global market strategist at JPMorgan Asset Management.
Source:The Edge Markets
October 24, 2021 14:50 UTC
Khairy leading Malaysian delegation to WHO conference in Japan
KUALA LUMPUR: A Malaysian delegation led by Health Minister Khairy Jamaluddin is heading to the 72nd World Health Organisation (WHO) Western Pacific Regional Committee Meeting (WPRCM) in Himeji, Japan. Khairy, who left for Japan on Sunday (Oct 24), will attend the meeting from Oct 25-29. Health director-general Tan Sri Dr Noor Hisham Abdullah and the Health Ministry's senior officers are also part of the delegation. He is also invited to be a speaker during a special session with the theme "Communication for Health" on Oct 28. WHO Western Pacific Region consists of 37 developed and developing countries including Malaysia, Australia, New Zealand, Singapore, Japan, the Philippines, Brunei, Cambodia and Mongolia.
Source:The Star
October 24, 2021 11:35 UTC
My Say: Hong Kong’s future is brighter than many think
Hong Kong has endured much in the past two years, so it is not surprising that commentaries are being written about the impending death of Hong Kong. The principal reason why doubts have arisen about Hong Kong’s future is the political makeover it is undergoing. After all, if Hong Kong were no longer distinctive but come to resemble just another Hong Kong city, much of this lucrative activity might just move to Shanghai. Nevertheless, Hong Kong retains formidable advantagesThese challenges are real but we would argue that Hong Kong still has much going for it. Conclusion: Don’t rush to write Hong Kong’s epitaphIn essence, the changes will pose difficulties for Hong Kong but also provide it with new opportunities.
Source:The Edge Markets
October 24, 2021 06:24 UTC
Giving a new concept of family
Announcing this, Prime Minister Datuk Seri Ismail Sabri Yaakob said the foundation was in line with the Malaysian Family concept and a manifestation of Malaysians’ care for children affected by the Covid-19 pandemic. “As such, I humbly call on the entire Malaysian family to share their love with these children,” Ismail Sabri said when launching the Malaysian Family concept at Borneo Convention Centre Kuching last night. “My hope is that through Yayasan Keluarga Malaysia, no Malaysian child will have to suffer alone.”On the Malaysian Family concept, Ismail Sabri said it was not merely rhetoric but represented the government’s commitment to protecting the people’s interest and well-being, which is akin to caring for a family. “To me, the concept of Malaysian Family is everyone living as a family regardless of race, language, religion, status in society or ability, with no discrimination of any sort,” said Sarawak Cultural Village (SCV) general manager Jane Lian Labang. For author of children’s books Malcolm Mejin, Sarawak’s natural and cultural attractions can promote the Malaysian Family agenda through well-planned activities and visits.
Source:The Star
October 24, 2021 03:38 UTC