Quick take: AirAsia slides on cash call
KUALA LUMPUR: Shares in AirAsia Group Bhd fell marginally in early trade Tuesday after it announced a fresh RM1bil capital raising plan. AirAsia has proposed rights issue of redeemable convertible unsecured Islamic debt securities (RCUIDS) to raise up to RM1.02bil to finance the company’s operations and business expansion. The airline is offering existing shareholders the right to buy two RCUIDS, with one free detachable warrant, for every six AirAsia shares currently held. The group has projected to raise between RM615.9mil and RM1.02bil under the minimum subscription level and full subscription level respectively. “At 8x, we value AirAsia at a discount to its global peers, Ryanair and Southwest Airlines (10x–11x forward PE) to take account of AirAsia’s relatively smaller size.
Source:The Star
July 13, 2021 01:52 UTC
Trying times in India
This year, he is selling his gold jewellery to meet expenses, after failed attempts at starting a home business and finding another job. With fewer banks around, people in rural areas rely on gold in times of need as it can be easily liquidated. “You already had a financial problem last year and you got out of that problem through gold loans. Indians have been cutting down on their gold purchases in the past couple of years as a weak economy and the virus outbreak trims their spending power. In 2020, gold sales fell to the lowest in more than two decades, according to the World Gold Council.
Source:The Star
July 13, 2021 01:52 UTC
Why delay programme that can benefit the economy?
I HAVE been a strong supporter of the Malaysia My Second Home (MM2H) programme since it was first launched, and I sat on various government committees providing input into it. The suspension of the MM2H programme in July last year has resulted in a significant loss of income for the country. This has led some people, including existing visa holders, to worry that the government plans to shut down this visa. Covid-19 restrictions should have no impact on relaunching the MM2H programme, as we assume that applicants could still apply without coming to Malaysia. The government could ask them to wait until border controls are more relaxed or help the Malaysian economy sooner by allowing fully vaccinated approved applicants to enter earlier.
Source:The Star
July 13, 2021 00:48 UTC
No need to advertise acts of charity
PEOPLE who received help via the White Flag movement (people can hang a white flag/cloth from their houses to ask for urgent help) should thank the vanity of social media postings. I truly believe being able to post your charitable deeds on social media is a major reason why so many people are helping. I heard of recipients being asked to line up and pose for photos of them receiving the aid. The pandemic has taken a lot away from so many people – jobs, security, education opportunities, etc, let’s at least leave them their dignity. Do good, but leave your social media out of it.
Source:The Star
July 13, 2021 00:47 UTC
Covid-19: Vaccination centre in IDCC Shah Alam temporarily closed on Tuesday (July 13 ) after staffer tests positive
PETALING JAYA: The vaccine administration centre (PPV) at the Ideal Convention Centre (IDCC) in Shah Alam will close temporarily for one day on Tuesday (July 13). In a statement, the Covid-19 Immunisation Task Force (CITF) said the PPV would close as one of the workers on duty there had tested positive for Covid-19. "This immediate closure was done after the Covid-19 test result was obtained last night to enable sanitation to be carried out. It is learnt that those scheduled to be vaccinated at the IDCC have received or are receiving notifications of the closure. "My husband found out on Twitter this morning that the IDCC PPV was going to be closed for sanitisation.
Source:The Star
July 13, 2021 00:37 UTC
Reopening to happy customers
STUDENTS and parents are happy and excited that bookstores are finally open after more than a month. Bookstore assistant operation manager Khazminudin Isymar Omar, 43, brought his son to the store to get stationery and study materials. “We had at least 15 customers bringing gadgets here to be fixed. “During the lockdown period, some customers called us when they faced issues. Besides car wash businesses, other businesses allowed to open include computer and telecommunications outlets, bookshops and stationery shops, electrical shops and barber shops (basic services only).
Source:The Star
July 13, 2021 00:15 UTC
Southgate takes blame for choice of penalty takers
—ReutersIt still follows Southgate 25 years after his missed spot kick in the semi-finals against Germany. Raheem Sterling, a Premier League winner playing at his fourth tournament, wasn’t even included among the five penalty takers before the shootout was over and Italy were going off to collect the trophy. Liverpool’s Premier League and Champions League winner, Jordan Henderson, was deemed less suitable for a penalty than Sancho. “I decided on the penalty takers based on what we’ve done in training. “They were the best takers we had left on the pitch,” Southgate said.
Source:The Star
July 12, 2021 23:29 UTC
Ready to take up the fight
PETALING JAYA: With a capacity to treat 150 Covid-19 patients, the disaster management zone (DMZ) located in the underground parking lot of the Tuanku Mizan Armed Forces Hospital will begin admitting patients starting today. Category 3 Covid-19 patients are those with symptoms of pneumonia while patients in Category 4 are those who are symptomatic, have pneumonia and need oxygen assistance. “The DMZ of Tuanku Mizan Armed Forces Hospital is an existing facility specially designed by the armed forces since the construction of the hospital 20 years ago. Dr Noor Hisham said his visit was aimed at refining the strategic planning of the management of Covid-19 patients in the Klang Valley following the increase of cases especially in categories 3, 4 and 5, which has caused congestion in healthcare facilities. “On behalf of the Health Ministry, I would like to express my appreciation and thanks to the Chief of Defence Forces and all members of the Tuanku Mizan Armed Forces Hospital for their strategic cooperation in combating the Covid-19 pandemic in the country,” he added.
Source:The Star
July 12, 2021 23:15 UTC
INTERACTIVE: How fake news about Covid-19 has shifted, and what to look out for
These are just two examples from among 550 widely shared fake news items about Covid-19 that the authorities have had to tackle since the start of the pandemic last year, according to an analysis by The Star. This year, the number of Covid-19 fake news items tackled by the authorities fell by 82% to 72 from January to June. This year, much of the fake news being spread on WhatsApp and social media has zeroed in on Covid-19 vaccines. Launched in March 2017, the portal gathers information regarding fake news or information through public tip-offs and collaboration with other ministries. From its inception up to May 31, 2021, the Sebenarnya.my portal has received a total of 13, 690 tip-offs.
Source:The Star
July 12, 2021 22:52 UTC
Boosted by support, Shah Firdaus hopes to win first medal
KUALA LUMPUR: Everything has come together for cyclist Mohd Shah Firdaus Sahrom and now, he has only one task left – to win a medal for Malaysia at the Tokyo Olympic Games. Shah Firdaus will compete in the individual sprint and keirin together with his more illustrious teammate Azizulhasni Awang in the track cycling competition from Aug 2-8 at Izu Velodrome. There are many others, too, but yesterday, Shah Firdaus also thanked one of his main sponsors Sime Darby Foundation. “It’s a dream come true for me to represent Malaysia at this prestigious sports event,” said Shah Firdaus. Shah Firdaus is one of the few cyclists who had benefited under the Sime Darby Foundation Track Cycling Team (SDFTCT), who are also coached by Beasley.
Source:The Star
July 12, 2021 22:52 UTC
AirAsia proposes two-for-six rights issue of convertible Islamic debt securities to raise up to RM1.02b
The airline is offering existing shareholders the right to buy two redeemable convertible unsecured Islamic debt securities (RCUIDS), with one free detachable warrant, for every six AirAsia shares currently held. Each RCUIDS are also convertible to one new AirAsia share on a one-to-one basis, according to the filing to Bursa Malaysia. As of June 29, AirAsia has 3.898 billion issued shares, the company said. It has yet to issue the remaining 198.18 million new shares under its proposed private placement in February, it added. Shares of AirAsia closed at 88.5 sen, valuing the airline at RM3.43 billion.
Source:The Edge Markets
July 12, 2021 12:56 UTC
Nexus achieves World-beating IBDP Results, 2 learners recognised as Top in the World
Learners at Nexus International School Malaysia, a top IB school in Malaysia, once again achieved world-beating results in the International Baccalaureate Diploma Programme (IBDP). With a high average score of 38 points, Nexus learners substantially outperformed the world average of 33 points. Nexus’ learners also once again achieved a 100% pass rate, above the global pass rate of 89%. But, Nexus teachers were accommodating and engaging, making it less daunting to speak during online sessions. Would you like your child to be inspired by their stories of success and learn more about the Nexus IB Diploma Programme.
Source:The Edge Markets
July 12, 2021 11:02 UTC
No more 'Gangnam Style': South Korea's Covid-19 rules demand slower workout music in gyms
SEOUL (July 12): Plenty of gym-goers rely on a good tune to get themselves through that workout, but in South Korea their musical options have just reduced significantly under new Covid-19 rules. The government imposed its highest level of distancing rules in Seoul and neighbouring regions starting Monday, as the country battles its worst-ever Covid-19 outbreak. When asked about the actual effectiveness of the workout music speed guidelines, a health official said authorities came to the decision after taking into consideration a broad range of opinions. Whang Myung-sug, a 62-year-old member of Kang's gym, said the government had applied a double standard in restricting gyms. But if your favourite workout song is Psy's "Gangnam Style" — the South Korean hit that went viral the world over — you're out of luck.
Source:The Edge Markets
July 12, 2021 10:41 UTC
David vs Goliath in CCB privatisation stalemate
CCB’s share price surged as high as RM19.50 per share in 1997,” Goh says. It is worth noting that JCCL is not allowed to acquire any CCB shares above RM2.40 in the next six months after the second failed privatisation attempt. “If JCCL wants to trigger a compulsory acquisition, they need to get about 95.91% of all the CCB shares. “We are pretty sure that this third time around, the offer price will be so good that we will also sell. “Being a minority shareholder of CCB, we don’t expect CCB to give us business or anything.
Source:The Edge Markets
July 12, 2021 09:56 UTC
Shopee offers 60,000 MSMEs benefits up to RM3,000 each via onboarding programme
KUALA LUMPUR (July 12): Shopee Malaysia is offering 60,000 local micro, small and medium enterprises (MSMEs) benefits of up to RM3,000 each via its Go-eCommerce Onboarding programme. In a statement today, the e-commerce platform said the initiative aims to encourage the adoption of e-commerce as a trade channel among local MSMEs and Malaysian citizens who wish to venture into entrepreneurship. “The Go-eCommerce Onboarding programme is open to registered Shopee sellers who are Malaysian citizens or belong in the MSME category as defined by SME Corporation Malaysia. Shopee added that the programme offers two types of benefits; the first one is available to existing Shopee sellers who have registered as a seller on Shopee before July 1, 2021, where they will receive RM2,500 in Shopee store coins cashback vouchers and up to RM500 in service fee rebates. The programme, which took place from July till September 2020, saw participating MSMEs recording a 158 per cent increase in daily sales.
Source:The Edge Markets
July 12, 2021 09:56 UTC