Russia says 63 soldiers killed by Ukrainian strike in Donetsk region
(Jan 2): Russia's Defence Ministry said on Monday that 63 Russian soldiers had been killed in a Ukrainian New Year's Eve attack on their quarters in the Russian-controlled part of Ukraine's Donetsk province. Earlier, Ukraine's defence ministry said as many as 400 Russians had been killed. AmmunitionRybar said there had been about 600 people in the building, and that ammunition had been stored in the same facility. Russia's Defence Ministry gave its estimate of the death toll only in the final paragraph of a 528-word daily battlefield roundup. Girkin, who has bitterly criticised Russia's military failures in Ukraine, also said ammunition had been stored at the facility.
Source:The Edge Markets
January 02, 2023 20:58 UTC
The Pitch Deck: Reawakening an Asian tiger
Anwar faces a significant challenge because Malaysia has not only lost its Asian Tiger status but has also fallen far behind its neighbours such as Indonesia and Vietnam. Despite moving from an agrarian economy in the 1970s to a manufacturing economy today, we are still largely a low-technology manufacturing economy and also a resource-dependent economy — primarily oil, gas and palm oil. Our economy is still dependent on low-level manufacturing, palm oil, oil and gas, the same as it was 30 years ago. The carrot and stick approachWe need to reward businesses that adopt technology and penalise those that do not. We will not recapture the mantle of an Asian Tiger but will instead be nothing more than an Asian kitten.
Source:The Edge Markets
January 02, 2023 07:15 UTC
Global Times: COVID infection peak in mega cities nearing end, expected to affect rural areas soon: leading Chinese research team
(Jan 1): In several of China's metropolitan cities including Beijing, Shanghai and Guangzhou, the COVID-19 infection peak is expected to end around New Year's Day, according to a latest study by a leading Chinese research team, Global Times said. The outbreaks are expected to mainly affect rural areas and small and medium-sized cities between New Year's Day and the Spring Festival, which falls on January 22, the study also showed. Since December 23, the number of patients attending fever outpatient clinics in the city began to decline, with the number of visits dropping from about 60,000 to 19,000 in a single day, reported the Yangcheng Evening News, citing data from the Guangzhou Municipal Health Commission on Sunday.
Source:The Edge Markets
January 02, 2023 02:22 UTC
Return Form Filing Programme for 2023 can now be accessed via HASiL portal
PUTRAJAYA (Jan 1): The Inland Revenue Board (IRB) Return Form (RF) Filing Programme for 2022 is now available on HASiL official portal as a reference for taxpayers to submit their return form this year. It also encouraged tax agents to use the Tax Agent e-Filing (TaeF) (https://taef.hasil.gov.my/) service to submit RF. “To save time and facilitate e-Filing submission by employees, employers are encouraged to submit 2022 employees’ remuneration data through the e-Data Praisi/e-CP8D application. “The remuneration data received will be prefilled into employees’ e-Form (e-BE/e-B/e-BT/e-M/e-MT for the Year of Assessment 2022),” the statement read. Employers can refer to the latest format of the e-Data Praisi/e-CP8D information for the 2022 remuneration year attached to the RF Filing Programme 2023 filing programme for the purpose of providing employee remuneration data, it added.
Source:The Edge Markets
January 01, 2023 17:17 UTC
STEM scholarship programme
>Antarabudaya Malaysia, a non-profit volunteer-driven organisation focused on intercultural learning across communities and a member of AFS Intercultural Programs, has announced the launch of the first AFS Global STEM (science, technology, engineering and mathematics) programmes with 10 full scholarships for young Malaysians. > The four-month intercultural programme combines digital and in-person learning where participants from more than 18 countries worldwide will enrich their knowledge through the development of global competencies in problem-solving, analytical skills, intercultural understanding, sustainability and social innovation. > The annual STEM scholarship programme for 100 participants funded by global energy company BP starts with a 12-week virtual e-learning curriculum from their home countries, culminating in student-led social impact projects and presentations offering potential solutions to real-world challenges with emphasis on sustainability and the United Nations’ Sustainable Development Goals. The topic of study includes climate change and the energy transition. They will also participate in community service and have the opportunity to visit local innovative, sustainability-focused operations to see firsthand how companies and organisations at the destination country use STEM skills to address industry and societal challenges around sustainability issues.
Source:The Star
January 01, 2023 09:24 UTC
Tribute to landslide victims
A good number of the school’s staff and pupils were among the campers. We will always remember all of you,” said Cheong who officially assumed her post on Dec 19. “Those who came were family members, classmates, colleagues and friends of the victims,” he said. “Every level of the school had lost teachers and students... it was the hardest moment for me to tell everyone about the news. At the end of the event, teachers, students and parents were asked to write messages for the departed on a small card before tying it with a yellow balloon.
Source:The Star
December 31, 2022 11:28 UTC
Exams syndicate announces SPM, STAM dates
PETALING JAYA: The Malaysian Examinations Syndicate has announced the dates for the 2022 Sijil Pelajaran Malaysia (SPM) and Sijil Tinggi Agama Malaysia (STAM) exams. On Dec 28, the Education Ministry said students in Johor, Kedah, Kelantan and Terengganu would start their 2022/2023 (third term) school session on Jan 1. Schools in Melaka, Negri Sembilan, Pahang, Perak, Perlis, Penang, Sabah, Sarawak, Selangor, Kuala Lumpur, Putrajaya and Labuan would start their session on Jan 3. School holidays for schools in Johor, Kedah, Kelantan, and Terengganu would be from Feb 18 to March 18 next year, while the rest of the states would have their school holidays from Feb 18 till March 19. The Education Ministry said the postponement was to allow for the SPM examination to be carried out smoothly.
Source:The Star
December 31, 2022 01:21 UTC
IRB sets additional conditions on tax exempt overseas income
KUALA LUMPUR (Dec 30): The Inland Revenue Board (IRB) has announced additional tax exemption eligibility requirements for eligible taxpayers with overseas dividend income received in Malaysia from Jan 1, 2022 to Dec 31, 2026. The dividend income abroad must comply with the substantive economic conditions, it said in a statement on Dec 30. IRB said the amendment of this provision is to provide equitable tax treatment on the foreign income with the income accrued in or derived from Malaysia in line with the country’s commitment towards compliance with international tax best practices. For individuals: the income (all types of income except partnership income) has been subjected to tax in the country of origin. In accordance with these additional terms, amendments to the Treatment Guidelines Tax Related to Income Received from Abroad have been uploaded to HASiL Official Portal on Dec 29, 2022 and Guidelines dated Sept 29, 2022 are cancelled.
Source:The Edge Markets
December 30, 2022 07:22 UTC
Ramssol eyeing rebound from recent pullback, says RHB Retail Research
KUALA LUMPUR (Dec 30): RHB Retail Research said Ramssol Group Bhd is eyeing a rebound from its recent pullback as it bounced off the 21-day average line and headed towards the 45 sen immediate resistance. In a trading stocks note on Friday (Dec 30), the research house said that if a breakout above that level happens, the stock may resume its uptrend towards reclaiming the recent high of 47.5 sen, ie Dec 19’s high. “This is followed by 52 sen, which was the highest level since Sept 12. “Conversely, the counter may reverse its direction if it falls below the 42 sen support, forming a 'lower low' bearish structure below the average line,” it said.
Source:The Edge Markets
December 30, 2022 06:32 UTC
Global alarm grows over China's Covid surge
In response, the United States and a number of other countries announced they would require negative Covid tests for all travellers from mainland China. The US move came after Italy, Japan, India and Malaysia announced their own measures in a bid to protect against importing new Covid variants from China. The European Commission is set to meet Thursday to discuss "possible measures for a coordinated approach" by EU states to the explosion of Covid cases in China. On the frontlines of China's Covid wave, hospitals are battling surging cases that have hit the elderly and vulnerable hardest. China's National Health Commission (NHC) last week said that it would no longer release an official daily Covid death toll.
Source:The Star
December 29, 2022 17:02 UTC
Inflation bite seen less painful in 2023; 50 bps OPR hike still likely
This compares to the Ministry of Finance's forecast in October of 2.8%-3.3% inflation for 2023. "As core inflation remains elevated, this signals the persistence of demand-pull price pressures along with higher wages. Hence, we reiterate our view for another two 25 bps hikes in OPR to 3.25% in the first quarter of 2023 (1Q2023). BNM may raise the OPR by another 25 bps in January 2023, to further realign with global monetary tightening trends and to curb persistently elevated core inflation, the research house said. Malaysia's core inflation rose to a new high of 4.2% in November, driven by robust consumer demand and an improving job market.
Source:The Edge Markets
December 29, 2022 16:13 UTC
Banking stocks lift FBM KLCI higher after early jitters
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved by 2.01 points to 1,482.12 from Wednesday's closing of 1,480.11. The market bellwether opened 3.84 points lower at 1,476.27 and fluctuated between 1,472.54 and 1,483.49 throughout the morning session. He said plantation counters were also in the limelight amid current higher crude palm oil prices, while healthcare stocks gained in view of the Covid-19 situation in China. Meanwhile, Digi.Com Bhd dipped seven sen to RM3.91, and Axiata Group Bhd dropped four sen to RM2.97. Sector-wise, the Financial Services Index lifted 140.48 points to 16.509.52, the Plantation Index inched up 5.09 points to 7,005.31, the Industrial Products and Services Index slipped 0.42 of-a-point to 180.48, and the Energy Index was 16.27 points lower at 767.34.
Source:The Edge Markets
December 29, 2022 11:06 UTC
Late buying lifts FBM KLCI to two-month high
At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at its intra-day high of 1,480.11, up 5.42 points from Tuesday's closing of 1,474.69. Turnover dipped to 2.65 billion units worth RM1.82 billion versus 3.06 billion units worth RM1.85 billion on Tuesday. Sector-wise, the Financial Services Index climbed 14.67 points to 16.369.04, the Plantation Index added 11.79 points to 7,000.22, the Industrial Products and Services Index rose 0.63 of-a-point to 180.90, but the Energy Index was 4.34 points lower at 783.61. The Main Market volume dwindled to 1.6 billion shares worth RM1.5 billion against 2.01 billion shares worth RM1.47 billion on Tuesday. The ACE Market volume fell to 650.66 million shares worth RM245 million compared with 911.63 million shares worth RM363.78 million previously.
Source:The Edge Markets
December 29, 2022 01:06 UTC
Anwar should ignore Dr M, carry out institutional reforms as he may not have five years, says Kit Siang
KUALA LUMPUR (Dec 28): DAP veteran Lim Kit Siang said Prime Minister Datuk Seri Anwar Ibrahim should ignore former premier Tun Dr Mahathir Mohamad, and carry out as many of the “Reformasi” institutional reforms in the early months of the new Government, as the 10th PM of Malaysia may not have five years to do so. “He should be aware that there are political forces that are conspiring to end his premiership as early as possible. Lim added that Transparency International (TI) will release its 2022 Corruption Perceptions Index (CPI) next month. “It is too late for Anwar's Government to do anything to improve Malaysia’s TI 2022 CPI report, but they should do their utmost to ensure that Malaysia’s TI 2023 CPI report is the best for the country, even better than the TI 2019 CPI report, which was the best in 25 years since TI started its annual CPI series in 1995. “In fact, Malaysians must be prepared for one of the worst TI CPI reports in a month’s time,” Lim warned.
Source:The Edge Markets
December 28, 2022 23:39 UTC
China consumer confidence highest in the world
BEIJING: China holds the highest consumer confidence index score at 72.2 in December, and it is the only country with a score above 70, according to the global marketing research group Ipsos on Dec 22. Moreover, China's scores in the expectations index, investment index and jobs index are also seeing a significant increase in December. The global consumer confidence index read at 45.9 in December, up 0.4 points compared with last month, according to the marketing research group. China's consumer market is large, and the consumption growth is strong. The investment index and jobs index increasing is indicative of the consumers becoming optimistic about their future financial situation, the local economy and the job environment, Yang added.
Source:The Star
December 28, 2022 19:54 UTC