Ministry to intensify efforts to reduce cost of living under 12MP, says Nanta
He said the projects were Community Drumming; Sabah, Sarawak and Labuan Price Standardisation; Controlled Goods and Subsidies covering rice, flour, sugar, cooking oil, LPG and Petroleum. Nanta said the National Action Council on Cost of Living (NACCOL) also encouraged the development of people-oriented initiatives and projects that were easy and quick to implement for the well-being of people. Meanwhile, he said the Malaysian Intellectual Property Corporation (MyIPO) would intensify efforts to help more youth entrepreneurs to file protection for their intellectual property through trademarks, patents, copyrights and industrial design. Maryam won three gold medals at the 6th International Invention Innovation Competition (iCAN 2021) in Toronto, Canada last month. He said advocacy and promotion programmes would continue to be implemented under the 12MP at all levels, covering schools, universities, consumer associations and the community.
Source:The Edge Markets
September 28, 2021 15:22 UTC
Seven museums to reopen by appointments
KUALA LUMPUR (Sept 28): Seven museums in Kuala Lumpur, Selangor and Melaka will reopen on Oct 2 with strict standard operating procedures (SOP) adherence. Department of Museums Malaysia (JMM) in a statement on Tuesday said the museums are National Museum, Malay World Ethnology Museum, Orang Asli Crafts Museum, Music Museum, National Textile Museum in Kuala Lumpur; National Automobile Museum in Selangor; and Malaysia Architectural Museum in Melaka. "Visitors aged 17 and below are allowed to visit the museums accompanied by parents or guardians who are fully vaccinated," the statement read. The operating hours are from 9am to 4pm daily, except Mondays (first week of each month). It said visitors with low risk status including casual contact low risk on the MySejahtera application must be fully vaccinated against Covid-19 (14 days after the second dose of vaccine).
Source:The Edge Markets
September 28, 2021 13:52 UTC
MYEG's Philippines JV rolls out online payment services for income tax, economic zone fees
KUALA LUMPUR (Sept 28): MY EG Services Bhd (MYEG) said its 40%-Philippines joint venture (JY) I-Pay MYEG Philippines Inc (MYEG Philippines) is rolling out two e-government services in the Philippines — the online payment of income tax to their Bureau of Internal Revenue, and the payment of fees to the Philippine Economic Zone Authority (PEZA). The online income tax payment will be made available on MYEG Philippines' online portal from October this year, MYEG said. We are grateful that we're able to provide this service to Bureau of Internal Revenue and to the taxpayers," said MYEG Philippines chief executive officer Ann Saldana. The PEZA online payment service started this month. MYEG Philippines, a JV established in 2017, is on track to achieving its first full year of profitability, Saldana said.
Source:The Edge Markets
September 28, 2021 11:22 UTC
AG's Report 2019 Series 2: No letter of good conduct for MM2H participants' dependants poses national security risk
KUALA LUMPUR (Sept 28): The absence of a letter of good conduct (LOGC) requirement to verify that dependants of participants of the Malaysia My Second Home (MM2H) programme are free from criminal misconduct poses a risk to national security. "Besides that, the minimum offshore income of RM10,000 per month has never been reviewed since the MM2H programme was started in 2002. The inconsistent recognition of the health status of MM2H programme applicants invites the risk of spreading dangerous infectious diseases. "Participants' children enjoy eligibility as dependants even though they are over 21 years old due to unbalanced rules," the report said. For more stories on the Auditor-General’s Report 2019 Series 2, click here.
Source:The Edge Markets
September 28, 2021 10:07 UTC
Cover Story: Will property tourism see a change of fortunes?
Hence, cross-border investment undertakings such as property acquisitions would not be top of mind at this time and this will impact property tourism as well.”Despite the bleak outlook, there may be some opportunities for the property tourism segment. “We believe that [the Tourism Recovery Plan and opening of tourism bubbles] will not have any major immediate impact on property tourism. At the time, he said it would be worthwhile to look into growing our own “local” property tourism (among local investors who live in different states) rather than foreign property tourism. “Sentiment on property tourism may vary as property tourism brings numerous pros and cons. As international tourism improves, so will property tourism.”Nonetheless, from a long-term point of view, the prospects for property tourism in Malaysia are still palpable.
Source:The Edge Markets
September 28, 2021 07:52 UTC
Weekly flights to Sarawak to increase from Oct 1, from 22 gradually to 87
KUCHING: Flight frequency into Sarawak will be gradually increased from 22 to 87 flights a week effective Oct 1, says the state Transport Ministry. "This is also to ensure the smooth implementation of the new flight schedule," he added in a statement on Tuesday (Sept 28). "With the gradual increase in the flight frequency to Sarawak, we are expecting a rise in the number of passengers and movement of people into the state starting Oct 1," he added. He reminded passengers to comply strictly with the SOP, including entry procedures, to curb the spread of Covid-19. They must also provide a negative result from a PCR test taken three days before departure.
Source:The Star
September 28, 2021 06:11 UTC
Act 446: Time not right to increase fines for employers, says Saravanan
KUALA LUMPUR: It is not a suitable time to increase the fine against employers who fail to comply with the Workers’ Minimum Standards of Housing and Amenities Act 1990 (Act 446), says Datuk Seri M. Saravanan (pic). "But at the moment, we are already imposing a fine of RM50,000 for each worker to employers who do not comply with the act,” said Saravanan. Che Abdullah had asked whether the ministry would consider imposing higher fines as many employers have yet to comply with the act. Meanwhile, Saravanan said 940 investigation papers were opened against employers in various sectors between June 2020 and August 2021. Article type: metered User Type: anonymous web User Status: Campaign ID: 46 Cxense type: free User access status: 3Join our Telegram channel to get our Evening Alerts and breaking news highlights
Source:The Star
September 28, 2021 06:11 UTC
Scope Industries, Damansara Holdings, Icapital.biz, Encorp, Jade Marvel, Computer Forms, KESM, Samchem
KUALA LUMPUR (Sept 28): theedgemarkets.com highlighted eight stocks at Bursa Malaysia’s afternoon close today. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum. It merely tells you which stocks are seeing higher-than-normal volume and price movements. Note also that momentum generally only persists for a short period of time. However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks if they want to ride the momentum.
Source:The Edge Markets
September 28, 2021 05:48 UTC
Moody’s Analytics: China’s property market too big to fail
Below is the report on the China property market and Moody’s Analytics viewpoints:New-home prices were up 3.5% in August from a year earlier, the smallest growth since the property market rebounded from the pandemic fallout in June 2020. Property sales contracted in July and August with floor space sold logging an 18% year-over-year decline in August. They strengthened restrictions on bank lending to the real estate sector, prompting some banks to raise mortgage rates. As property sales ebb, the financing pressure on developers has begun to mount, leaving many in a liquidity crunch amid dented property sales, restrained borrowing, and elevated financing costs. Though banks’ direct risk exposure to property developers is under control, the knock-on effects of a teetering property sector on homebuyers and contractors are potentially serious.
Source:The Star
September 28, 2021 05:37 UTC
Keeping our schools Covid-free when they reopen
Schools not only support the educational development of children, but can also play a vital role in addressing social inequity. This approach, when combined with face masks, has been shown to reduce viral spread in university campuses. Testing schoolchildrenThe availability of self-testing kits, if utilised judiciously, will help reduce viral spread. Childcare centresA study has reported that children up to three years old spread Covid-19 more than older children. TakeawaysAs Covid-19 spread in schools reflects community spread, it is crucial that all necessary measures are taken to limit community spread to ensure schools can be safe for all students.
Source:The Star
September 28, 2021 04:52 UTC
Energy stocks rise as Brent rallies past US$80 a barrel
Most of the gains were owing to a 44 sen jump in Petronas Chemicals to RM8.70 as crude oil prices rallied past the US$80 a barrel mark.Tight supply conditions and a demand recovery have spurred the commodity prices to a fresh multi-year high, providing an upside catalyst to oil and gas counters.The Bursa Malaysia Energy Index rallied over 4% with an overwhelming majority of counters turning positive. Leading gainers included Hengyuan Refining rising 15 sen to RM4.39, Petron Malaysia adding 11 sen to RM4.42, Yinson jumping 28 sen to RM5.18 and Petra Energy climbing five sen to 84.5 sen.Meanwhile, aluminium producer Press Metal jumped 16 sen to RM5.76 amid the renewed interest in commodities.Other sectors on Bursa Malaysia remained subdued, including telco stocks. Both mainland and Hong Kong markets were down yesterday over China Evergrande's ongoing debt crisis following a missed deadline to pay interest to bondholders last Friday.China's main market rose 0.5% as it retraced some of yesterday's losses. Hong Kong's Hang Seng meanwhile jumped 1.4%.Japan's Nikkei was down 0.4% and South Korea's Kospi fell 1.1%. Australia's ASX200 slipped 1.2%.
Source:The Star
September 28, 2021 04:52 UTC
My Say: Budget 2022 and emergency room economics
This extraordinary output-reducing measure reflects the fact that an extraordinary national disaster like Covid-19 requires extraordinary economic management. One key recommendation from this situation is that a temporary unconventional fiscal policy in 2022 is optimum for addressing the present extraordinary pandemic. Balancing between disaster relief and BBBThe budgetary allocation situation is analogous with one where a decrepit apartment building is on fire. The government budget in 2022 would naturally fund both a disaster relief package and a BBB package. In 2022, the need to be unusually quick in large-scale budget reallocations on the part of the government is evident.
Source:The Edge Markets
September 28, 2021 03:33 UTC
Puzzling over Pos Malaysia's very slow service
On Sept 5, I posted two letters at the Lotus’s Post Office, (formerly known as Tesco) in Penang. This letter was received on Sept 23 – 18 days later! The second letter was sent to a 91-year old friend who had had a stroke, was hospitalised and discharged recently. This letter was also posted on the same day and at the same post office as the first letter. To this date (Sept 28) – 23 days later – this letter has not been delivered yet!
Source:The Star
September 28, 2021 01:30 UTC
Please make SOPs for the education sector consistent
A few days ago, Deputy Education Minister Datuk Dr Mah Hang Soon said that primary and secondary school students are allowed to return to school for face-to-face classes regardless of their vaccination status. On the other hand, colleges and universities, with assistance from the Higher Education Ministry, rolled up their sleeves to deny entry for students and staff without jabs. He said that the right of an individual to education is much more important in order to nurture future talent in this country. However, in order for Malaysia to bounce back from the pandemic, the SOPs need to remain consistent across the board to ensure that loopholes can be closed. Although the education sector is under the purview of two different ministers, nevertheless the SOPs being introduced and formulated should be consistent in order to ensure that every student receives quality education and prevent viral outbreaks in educational institutions.
Source:The Star
September 28, 2021 00:56 UTC
Trading ideas: MK Land, Axiata, Straits Energy, Handal
KUALA LUMPUR: Companies which could see trading interest on Tuesday following their corporate actions are MK Land, Axiata, Straits Energy, Aemulus , Handal and AirAsia X , says JF Apex Research. MK Land's 4QFY21 net profit soared 275.9% on-year, supported by a jump in other operating income, particularly from its property development segment. Handal Energy has bagged a five-year contract from ExxonMobil Exploration and Production Malaysia Inc to provide crane overhaul, repair and refurbishment. AWC posted a 4QFY21 net profit of RM2.68mil versus a net loss of RM29.9mil a year ago, on higher operating income and lower other operating expenses. MyNews has booked another quarterly net loss of RM14.92mil for its 3QFY21 on weaker retail performance, which also dragged its food processing division into the red.
Source:The Star
September 28, 2021 00:45 UTC