Ambank has extended RM15.2b repayment assistance to affected borrowers as at March 31
KUALA LUMPUR (June 9): AMMB Holdings Bhd (Ambank Group) said as at March 31, 2021, it has extended approximately RM15.2 billion in repayment assistance in its efforts to provide relief to customers — individuals and SMEs — who are affected by the Covid-19 pandemic. It added that the RM15.2 billion in repayment assistance was for loans and financing for all customer segments and the group has approved close to 100% of these applications. AmBank’s efforts are in line with the Government’s targeted repayment assistance initiative, which was announced under the Pemerkasa Plus financial aid package. According to Sulaiman, the bank will continue to assist customers through the repayment assistance packages and the rescheduling and restructuring plans that meet their respective needs. For more information on the repayment assistance, customers can visit the bank’s website at https://www.ambank.com.my/eng/repayment-assistance.
Source:The Edge Markets
June 09, 2021 10:41 UTC
Judicial commissioner in 1MDB lawsuit had past links with wealth fund, maintains he will be impartial
The JC also disclosed that one of the defendants in the lawsuit, former 1MDB CFO Azmi Tahir, was a former schoolmate and an acquaintance. The lawsuit is part of the 22 civil suits filed by 1MDB and its subsidiary SRC International Sdn Bhd to recover assets worth over RM96.6bil. Filed by 1MDB and its four subsidiaries – 1MDB Energy Holdings, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd and Global Diversified Investment Company Ltd (Formerly known as 1MDB Global Investments Ltd) – the lawsuit named Najib as the first defendant. JC Atan is assigned to the lawsuit after a previous judicial commissioner, JC Adlin Abdul Majid, recused herself from the case last week. "1MDB and SRC contend that these entities and/or individuals have been unjustly enriched by wrongfully receiving monies from 1MDB or SRC," the ministry said in a statement.
Source:The Star
June 09, 2021 10:36 UTC
Greatech's earnings will not be affected by issues at Lordstown Motors, says CEO
KUALA LUMPUR (June 9): Greatech Technology Bhd said its earnings will not be affected by issues faced by its client Lordstown Motors Corp, which reportedly will not be able to commence full commercial production and there are doubts over whether it could continue as a going concern through the end of the year. He said that Greatech has communicated with Lordstown Motors, and that the latter said it would try to raise funds for commercial production. "Investors have oversold as they are looking only at the Lordstown issue at the moment. At 3.19pm, Greatech was down 50 sen or 8.6% at RM5.30, translating into a market capitalisation of RM6.64 billion. Read also:Greatech down 10.34% following report on snafu in Lordstown Motors Corp commercial production
Source:The Edge Markets
June 09, 2021 08:03 UTC
Cover Story: Creating value for buyers in every project
More recently, the purchase of land in Bandar Bukit Tinggi, Klang, from WCT Land Sdn Bhd was also an opportunistic one. “The project sits between the upcoming Tesco Extra Bukit Tinggi and AEON Bukit Tinggi LRT stations, both of which are only a 10-minute walk away. It is also near AEON Bukit Tinggi, Tesco Extra Bukit Tinggi, GM Klang Wholesale City, Hospital Tengku Ampuan Rahimah, Pantai Hospital Klang, SJK (C) Hin Hua, Hin Hua High School and Collinz International School. The developer will manage the retail units for a period of time and eventually sell them. The project, with an estimated GDV of RM1 billion, will comprise retail units, serviced suites and offices.
Source:The Edge Markets
June 09, 2021 08:03 UTC
Is there a case for another blanket automatic loan moratorium?
I want to share my thoughts on this matter, including whether we can pursue another round of blanket automatic loan moratorium. Different context, different approachWhen the blanket automatic loan moratorium was implemented last year, the situation was unprecedented. A moral considerationThere is a moral argument against the case for another round of blanket automatic loan moratorium: Why should a person whose income has not been affected by this pandemic enjoy a loan moratorium again? Ultimately, who stands to benefit most from a second round of blanket automatic loan moratorium, if not the well-off? Moreover, calls by various parties to do another round of automatic loan moratorium, justified by recent bank profits, sadly ignore the implications Malaysians will face in the longer term should the blanket automatic loan moratorium be reintroduced, to the detriment of the country and her people.
Source:The Edge Markets
June 09, 2021 08:03 UTC
Covid-19: Delays expected for AstraZeneca vaccine shipments
PETALING JAYA: The government is expecting some delays for shipments of AstraZeneca vaccines, says Khairy Jamaluddin. AstraZeneca signed an agreement with Thailand's Siam Bioscience last year to be its vaccine manufacturer and distribution centre in Southeast Asia. Malaysia expected to receive 610, 000 doses from Thailand in June and another 410, 000 doses in July. Khairy also said that those who wanted a shorter interval between their AstraZeneca doses could apply to permohonan@vaksincovid.gov.my. As of June 8, Khairy said they have received 196 such applications so far.
Source:The Star
June 09, 2021 07:52 UTC
My Say: A social market stimulus to avoid the tipping point
There is also less additional impact from the government to support the economy as the previous stimulus measures begin to end. The new lockdown scenario will likely freeze the nascent recovery in employment and the gradual re-absorption of underemployed and retrenched workers. The social market approach would target those in need and strategic groups to help sustain and create new sources of growth. A social market economy approach — which combines a free market economic system with social policies that establish fair competition, equality of opportunity and social equity — is the foundation for successful market-driven economic growth. The role of international trade and net exports, also essential in a social market context, should also not be overlooked because trade is an important source of growth for Malaysia.
Source:The Edge Markets
June 09, 2021 06:11 UTC
Woman donates kidney to hubby’s ex-wife two days after marrying him
Two days later, she put on a hospital gown and donated a kidney to Mylaen Merthe – her new husband’s ex-wife. Her brother offered to donate a kidney, but wasn’t a match, so Neal-Strickland volunteered. And Neal-Strickland knew that Mylaen was about to become a grandmother for the first time – her daughter was pregnant. “God told me, ‘You’re a match and you need to do this’.”Giving is what Neal-Strickland and Merthe do. After months of testing and Covid delays, the transplant was set for two days after Merthe and Neal-Strickland’s wedding.
Source:The Star
June 09, 2021 00:56 UTC
U.S. Senate passes bill to raise fees on biggest mergers
WASHINGTON (Reuters) - The U.S. Senate passed a bill on Tuesday that would increase fees that companies planning the biggest mergers pay to government antitrust agencies and give those agencies bigger budgets. The Federal Trade Commission and the Justice Department's Antitrust Division assess mergers to ensure that they comply with antitrust law. The measure would increase authorizations to each, giving the FTC a budget of $418 million, while the Antitrust Division would receive $252 million. Also under Biden's plan, the Antitrust Division would see its budget increase to $201 million from $185 million, an increase of 8.6%. "I'm glad to see my colleagues in the Senate also recognize this issue and support it (the bill) today,” he said.
Source:The Star
June 09, 2021 00:46 UTC
In the dark for 45 years
Dubbed the “Double Six Tragedy”, the terrible event took the lives of probably the best leaders of Sabah from that generation. Last Sunday, as in all previous anniversaries of the “Double Six Tragedy”, calls were again made to disclose the investigation report. This was his response: “It’s been 45 years when the darkest chapter in Sabah politics occurred. Our family lost a husband and a father, as did the respective families of Tun Fuad and the other state leaders. “It is not surprising that many, if not most Sabahans, believe the existence of a conspiracy until today,” he said.
Source:The Star
June 09, 2021 00:22 UTC
Covid-19: As death toll rises, bodies wait in queue for last rites
KUALA LUMPUR (Bernama): The high death toll due to Covid-19 in Malaysia lately has caused the National Institute of Forensic Medicine (IPFN) to face a bitter situation when experiencing backlogs in the management of the bodies, as a result of the outbreak and non-Covid-19 death cases. In contrast to the management of bodies of non-Covid-19 patients, the Covid-19 deaths need to be managed with the utmost care by the frontliners, and expedited for burial or cremation. DBKL also provides non-Covid-19 cremation services, so we have to wait for our turn,” she told Bernama. "Compared with last year, we rarely receive cases (deaths) at home, (on the contrary) we receive cases at the hospital. So we can put the cause of death as ‘Covid pneumonia’ or ‘pneumonia due to Covid’,” she said.
Source:The Star
June 09, 2021 00:11 UTC
Banking on generous Malaysians
SINCE the Covid-19 pandemic started, Malaysians have come forward and shown their generous side. Volunteers comprising family members of kEATchen management help to prepare up to 400 bags of basic necessities each day for distribution. He added that kEATchen also distributed food items to the Taxi Drivers Welfare Association and people living in Kepong and Puchong. Volunteers at The Lost Food Project food bank sorting through food collected from Pasar Borong Kuala Lumpur. Mohd Syazwan said that despite the amount of food collected by TLFP, food was scarce for the long list of charities waiting to be included as beneficiaries.
Source:The Star
June 09, 2021 00:02 UTC
Find a more sensible and practical way, say rights groups
PETALING JAYA: Find a more sensible and practical way to vaccinate illegal migrants to prevent the nation from failing to meet its 80% herd immunity target, caution rights groups. Human Rights Commission of Malaysia (Suhakam) commissioner Jerald Joseph said plans for mass arrests of illegal immigrants would contradict efforts to develop herd immunity. Rather than adopt a mass detention approach, he suggested a more sensible and practical approach which was proposed by coordinating minister for the National Covid-19 Immunisation Programme Khairy Jamaluddin. “This move is more sensible and practical in reaching out to the illegals, ” he said. Child activist and Yayasan Chow Kit co-founder Datuk Dr Hartini Zainudin said authorities should not be detaining undocumented migrants, particularly women and children.
Source:The Star
June 09, 2021 00:00 UTC
It’s crunchtime for famed hawkers
“The shaved ice must be densely packed into a uniform ball. Tan will also keep several shaved ice balls in the freezer, to stabilise them even further. But it is a little harder for char koay teow hawker Soon Suan Choo, 73, to make sure the takeaway version of her char koay teow will be just as good as eating it fresh off the wok. “Previously, during the good times, I got to sell more than 100 plates of char koay teow but now I only manage to sell around 30 packets a day. “I only depend on walk-ins as well as my regular customers,” she said when met at her stall on Sunday.
Source:The Star
June 08, 2021 23:37 UTC
Instilling vaccine confidence
MORE than two billion people have received at least one dose of a Covid-19 vaccine since public vaccination programmes started worldwide. Over time, the government will need to be more transparent and deploy effective strategies to maintain and increase vaccine confidence. Today, we take a look at the communications surrounding breakthrough infections and vaccine side effects. Breakthrough infectionsThe US Centers for Disease Control and Prevention (CDC) defines “vaccine breakthrough infection” as detection of a SARS-CoV-2 infection 14 or more days after completing all recommended doses of a vaccine authorised by the US Food and Drug Administration (FDA). All that sensational reporting on rare side effects and breakthrough infections can impact vaccine confidence.
Source:The Star
June 08, 2021 23:37 UTC