Haze, hot spell: Use brollies, wear masks and limit outdoor activities, advises Health Minister
PETALING JAYA: The current hot season is expected to continue leading to poor air quality. As such, the public is advised to take precautionary measures as the haze situation is expected to worsen with air quality dropping in several areas in the country. The areas that recorded unhealthy air quality levels with Air Pollutant Index (API) readings of 150 and 120 were Johan Setia (Selangor) and Kota Baru (Kelantan). "People should limit physical activities during the hot weather which could lead to illness and limit being outdoors, use suitable face masks and protect themselves from the haze by using umbrellas and caps to prevent direct exposure to the hot weather," said Dr Zaliha in a statement on Wednesday (April 19). Dr Zaliha said the public can access information on the heat wave and haze at http://www.myhealth.gov.my/ cuaca-panas-a-kesihatan, https://www.infosihat.gov.my/ index.php/isu-semasa/51-jerebu orhttps://www.moh.gov.my/index.
Source:The Star
April 19, 2023 07:12 UTC
We did not consent to have our services included on airasia Super App, says Batik Air
KUALA LUMPUR (April 18): Malaysia-based Batik Air, a member of Indonesia's Lion Air Group, has joined national carrier Malaysia Airlines Bhd to say that it has not given consent for AirAsia Super App to include its services on the airasia Super App. It claimed that AirAsia Super App had acted in an "unauthorised manner" by putting the airline’s and Indonesian low-cost carrier Super Air Jet’s flights up for sale on the app. "We wish to notify the public that Batik Air Malaysia, and all the airlines within the Lion Air Group, namely Lion Air, Batik Air Indonesia and Wing’s Air, and Super Air Jet have not given any consent for AirAsia Super App to include their services in the airasia Super App," Batik Air said in a statement on Tuesday (April 18). The airline said it has demanded AirAsia Super App to immediately remove or delete all unauthorised products and services of the group and Super Air Jet from the airasia Super App, failing which it will "seek legal redress in accordance with the laws of Malaysia". Earlier, Malaysia Aviation Group Bhd group managing director Captain Izham Ismail said the aviation group has filed for an injunction to stop AirAsia from selling Malaysia Airlines tickets on its airasia Super App.
Source:The Edge Markets
April 18, 2023 17:34 UTC
Second 5G rollout a ‘bonus’ for the industry
PETALING JAYA: A second 5G network may lead to lower access charges and translate into better earnings for telecommunication companies (telcos). Reuters had reported that Malaysia might introduce a second 5G network in 2024. “We reiterate our ‘overweight’ stance on the sector and see a second 5G network as a bonus to the sector, if it materialises,” said Kenanga Research in a report yesterday. The introduction of a second 5G network operator, it said, would challenge DNB’s grip on the market, spurring competition that could result in reduced 5G leasing charges – a boon to the telcos. “Wider coverage, better affordability and faster speed are set to boost subscriptions and average revenue per user,” the research house added.
Source:The Star
April 18, 2023 13:24 UTC
Five men arrested for assaulting woman, throwing her from bridge
SHAH ALAM: Police arrested five men believed to have been involved in assaulting, slashing and injuring a woman before throwing the victim under the Kampung Sawah Banting bridge in Selangor. Kuala Langat district police chief Supt Ahmad Ridhwan Mohd Nor @ Saleh said police received a tip-off from the public on April 13 at 3.25am about shouts for help from under the bridge. Ahmad Ridhwan said the victim had been hit and injured with a cane and received cuts from a sharp object by several assailants who then dumped the victim under the bridge. "Based on information received, a team from the Criminal Investigation Division of the Kuala Langat district police headquarters arrested five local men on the same day around Banting and seized a Proton Perdana car and a cane,” he said. "All the suspects have been remanded for four days and investigated under Section 364 and 326 of the Penal Code for causing serious injuries,” he added.
Source:The Star
April 17, 2023 22:45 UTC
Bursa opens lower, tracking Wall Street performance
KUALA LUMPUR (April 17): Bursa Malaysia opened lower on Monday (April 17), taking its cue from the Wall Street’s negative performance overnight amid cautious market sentiments, an analyst said. At 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 1.65 points to 1,433.48 from last Friday's close of 1,435.13. The barometer index opened 0.34 points lower at 1,434.79. Meanwhile, among the heavyweights, Malayan Banking Bhd shed three sen to RM8.68 and Public Bank Bhd eased one sen to RM3.98. CIMB Group Holdings Bhd stood at RM5.23, followed by Petronas Chemicals Group Bhd at RM7.40 and Tenaga Nasional Bhd at RM9.21, as all three counters were flat.
Source:The Edge Markets
April 17, 2023 13:31 UTC
Bond traders to scour bank results for signs of increased stress
(April 16) : Bond investors will pay a lot more attention than usual to the latest US quarterly bank results as they assess the potential hit to economic growth from any slide in lending. Also on the radar is how smoothly markets absorb the usual post-earnings rush of bond sales from banks. Schwab’s outlook will be in focus when it releases results Monday, after deposits sank while unrealized losses swelled. Amid the uncertain outlook for growth and a potential credit crunch, traders have been actively staking out bets on both sides of a potential Fed hike in May via options even though pricing still strongly favors another quarter-point rise. The potential X-date for raising the debt ceiling is seen around mid-August, but that could shift based on tax receipts.
Source:The Edge Markets
April 16, 2023 08:49 UTC
Over 70,000 applicants so far for EPF FSA2, but only 34,643 eligible
KUALA LUMPUR: A total of 74,392 contributors have applied for the Employees Provident Fund (EPF) Account 2 Support Facility (FSA2) as of Friday (April 14) since it opened on April 7. “We understand that there has been confusion among some EPF members regarding the need for monthly repayments towards the personal loans. FSA2 is a facility that aims to help EPF members obtain personal financing from banking institutions. Among the stipulated conditions is that the applicant must have a minimum amount of RM3,000 in EPF Account 2. For more information on the Account 2 Support Facility, visit the EPF website at www.kwsp.gov.my, or call the EPF contact management centre at 03-8922 6000.
Source:The Star
April 15, 2023 22:28 UTC
Almost half of 74,392 applicants qualify for MBSB Bank’s FSA2 loans amounting to RM722m
KUALA LUMPUR (April 15): The Employees Provident Fund (EPF) said almost half or 34,643 of the 74,392 applications received under MBSB Bank’s Ihsan-i Account 2 Support Facility (FSA2) are qualified to obtain loans amounting to RM722 million. Presently, MBSB Bank and BSN are the only two participating banks offering the FSA2 facility. He noted the confusion among some EPF members regarding the need for monthly repayments towards the personal loans. In the statement, the EPF reiterated that applications will remain open for one year, allowing EPF members ample time to apply in advance for Age 50 or Age 55 conditional withdrawals. The eligibility amount for the personal financing is based on the savings amount in Account 2, with a minimum financing amount of RM3,000 and a maximum of RM50,000.
Source:The Edge Markets
April 15, 2023 15:34 UTC
JPMorgan leads gain in big bank stocks as regional firms lag
Bank of America Corp, Morgan Stanley, and Goldman Sachs Group Inc joined the rally, while the KBW Bank Index climbed by the most in three weeks. Investors had been steering clear of the financial sector overall amid the turmoil, leaving the stocks cheap. Wells Fargo & Co’s stock closed little changed after it pointed to a 45% jump in its NII in the quarter. The KBW Regional Banking Index dropped by 2.2% on Friday, extending the year’s losses to 22%. The class of American financial institutions fell under pressure earlier this year amid collapses at Silicon Valley Bank and other regional lenders.
Source:The Edge Markets
April 15, 2023 13:53 UTC
Retired fisherman recalls night MH653 fell from the sky
ISKANDAR PUTERI: Retired fisherman Sulaiman Sharu (pic, left) will never forget that fateful day when he saw the hijacked flight MH653 explode in mid-air before it came crashing down in Tanjung Kupang 46 years ago. “When I looked up at the night sky, I noticed only the front part of the aircraft was lit up while the wings were not. Witness: The names of the passengers and crew of MH653 at Tanjung Kupang Memorial Park in Taman Kebun Teh in Johor Baru. A total of 93 passengers and seven crew members died in the tragic incident, with the remains of the victims buried at a grave known as the Tanjung Kupang Memorial Park in Taman Kebun Teh, Johor Baru. Meanwhile, a check at the Tanjung Kupang Memorial Park showed a bouquet of flowers had been left there.
Source:The Star
April 15, 2023 06:31 UTC
HK singer Maggie Fu’s phone was snatched by 3 robbers in London, traumatised she took next flight out of London
Hong Kong singer Maggie Fu took to Instagram on April 1 to share some of the last photos she took on her phone in London before it was snatched from her by three men in black. Along the way, she met a kind stranger who lent her his handphone to contact her family to lock her phone remotely. Although she had calmed down and took care of things, she decided to leave London immediately and hence, got on the next available flight back to Hong Kong. Fu added that it is easier to focus on the bad things and ignore the good things, which is why she is sharing the importance of changing one's perspective. We should always trust that things will work out and that the universe will give us the strength to go on.”
Source:The Star
April 13, 2023 22:25 UTC
HLIB keeps ‘buy’ on Genting as it sees value in stock, despite extended losses in FY2022
KUALA LUMPUR (April 13): Hong Leong Investment Bank Bhd (HLIB) has maintained its “buy” call on Genting Bhd, with an unchanged target price of RM6.75, as it sees significant value in the stock, despite the company’s continuous headline losses. Its analyst Tan Kai Shuen said the group’s headline losses for the financial year ended Dec 31, 2022 (FY2022) were mainly attributed to the recognition of large impairment and foreign exchange losses, which he believes contributed to the share price underperformance. “Due to the high per capita income of the locals, their strong spending power was enough to sustain GenS' performance during the pandemic. “In 4Q2022, GenS’ adjusted Ebitda recovered to 89% of the pre-pandemic level [in 4Q2019]. Notably, GenS' share price has performed well, surging 63.4% to S$1.16 (RM3.85), from a one-year low of S$0.71 on July 6, 2022.
Source:The Edge Markets
April 13, 2023 09:53 UTC
New Covid variant 'Arcturus' dominant behind surge in India — reports
KUALA LUMPUR (April 13): A new variant of Covid-19 dubbed 'Arcturus' is behind a fresh surge of infections in India. It said the national capital logged 1,149 fresh cases along with one fatality. With the addition of the fresh cases, Delhi's infection tally has risen to 20,17,250. Delhi logged 980 Covid cases on Tuesday, the highest since Aug 20, with a positivity rate of 25.98%, along with two fatalities. Read also:Report: New Omicron subvariant XBB.1.16 is ‘one to watch’, says WHO expert
Source:The Edge Markets
April 13, 2023 06:49 UTC
Bursa slips as US Fed minutes signal recession risk
KUALA LUMPUR: The domestic market is starting out on a weaker footing after the minutes from the US Federal Reserve's recent meeting showed expectations of a mild recession later this year. "We believe further profit taking activities may emerge in the regional markets and our local bourse," said Malacca Securities Research in a note. Leading tech counters included MPI falling 26 sen to RM28.62, D&O dropping seven sen to RM4.22 and Pentamaster shedding seven sen to RM4.93. Sister company Capital A fell 2.5 sen to 78.5 sen as the regularisation plan was expected to lift both companies out of Practice Note 17 status. Most actively traded in the opening minutes of trade were Hong Seng unchanged at 13 sen, Jade Marvel up one sne ot 31 sen and Revenue down 0.5 sen to 32.5 sen.
Source:The Star
April 13, 2023 06:06 UTC
AAX wants more time to submit regularisation plan
KUALA LUMPUR (April 12): AirAsia X Bhd (AAX) has once again applied to Bursa Securities for more time to submit its regularisation plan by extending its April 28 deadline to July 28. The regularisation plan is crucial as it is supposed to lift not just AAX, but also its sister company Capital A Bhd — which operates short-haul, low-cost airline AirAsia — out of Practice Note 17 (PN17) status. It is widely expected that the regularisation plan involves Capital A injecting its aviation business into AAX via an issuance of shares. Capital A and AAX are working on their respective regularisation plans. The recent Capital A share price rally has caused many to wonder about the price that AAX will have to pay to acquire AirAsia.
Source:The Edge Markets
April 12, 2023 15:39 UTC