Agong to decide soon on appointment of 10th PM
KUALA LUMPUR (Nov 22): Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah said he will decide on the appointment of the 10th prime minister soon. His Majesty also called on the people to accept the decision on the appointment and the formation of the new Government, whatever it may be. "Let's accept the decision of the people, accept the decision of the people's representatives, and accept the decision of the Yang di-Pertuan Agong. "Let me make the decision as soon as possible," Al-Sultan Abdullah told reporters outside Istana Negara Gate 2 on Tuesday (Nov 22). Parti Kesejahteraan Demokratik Masyarakat and Parti Bangsa Malaysia secured one seat each, while two more seats were won by independents.
Source:The Edge Markets
November 23, 2022 05:17 UTC
My Say: COP27 fiddling as the world warms
COP27 takes place amid worsening poverty, hunger and war, and higher prices, exacerbating many interlinked climate, environmental and socio-economic crises. Crossing it, the world faces risks of far more severe climate change effects on people and ecosystems, especially in the tropics and sub-tropical zone. Stronger climate action neededIn international negotiations, rich nations have evaded historical responsibility for climate debt by only focusing on current emissions. Another world is possibleAnother world is possible. The luxury hotels there are charging rates that have put COP27 beyond the means of many, especially climate justice activists from poorer countries.
Source:The Edge Markets
November 22, 2022 11:36 UTC
Bursa ends lower as market awaits new govt formation
KUALA LUMPUR (Nov 21): Bursa Malaysia pared most of its early losses to close marginally lower on Monday (Nov 21), as uncertainty over the formation of a new government continued to weigh on market sentiment. Turnover swelled to 4.29 billion units worth RM2.5 billion versus 2.63 billion units valued at RM1.85 billion on Thursday last week. The Main Market volume surged to 3.6 billion shares worth RM12.33 billion from 1.85 billion shares worth RM1.65 billion on Thursday. Warrants turnover decreased to 322.42 million units valued at RM46.07 million from Thursday's 399.82 million units valued at RM75.64 million. The ACE Market volume slid to 363.97 million shares worth RM121.19 million from 387.19 million shares worth RM120.68 million previously.
Source:The Edge Markets
November 21, 2022 21:47 UTC
Uzma bags five-year O&M contract from Petronas Carigali
KUALA LUMPUR (Nov 21): Uzma Bhd's wholly owned subsidiary Uzma Engineering Sdn Bhd has bagged a contract from Petronas Carigali Sdn Bhd for the leasing, operation and maintenance of a D18 water injection facility. In a Bursa Malaysia filing on Monday (Nov 21), Uzma said the scope of work comprises continuing the facility's operations, which has been at the exact location since July 2016, under operation and maintenance (O&M) by Uzma Engineering. The contract duration, which is valid for five years commencing from the date of the letter until Oct 28, 2027, is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2023, and onwards until the expiry of the contract. On Monday, Uzma's share price settled unchanged at 39 sen, bringing the group a market capitalisation of RM137.3 million.
Source:The Edge Markets
November 21, 2022 17:35 UTC
My Say: (Whoever wins) it will not be easy
A crisis, any crisis, is part of a journey, whether for an individual or a nation. The key response to the 2008 crisis was the loosening of monetary policy in the US and most of the developed economies, as liquidity was pumped into the system. The ringgit has been instead influenced by the monetary policy tightening that is still ongoing. The pent-up demand came online while supply constraints were not yet normalised, which, together with the loose monetary policy throughout the pandemic and even much earlier, created inflationary pressures all over. The Fed, which many opined delayed taking action for too long, started to tighten monetary policy unilaterally and aggressively at the start of the year.
Source:The Edge Markets
November 21, 2022 09:36 UTC
Foreign funds sold RM272m Malaysian equities ahead of GE15, says MIDF
KUALA LUMPUR (Nov 21): Foreign funds sold Malaysian equities worth RM272 million last week, a reversal from the RM425.62 million inflow the prior week. “Meanwhile, last Monday saw local institutions net selling RM34.3 million worth of equities, followed by RM2.3 million last Thursday,” it said. It said this was a positive reversal in comparison to the RM173.6 million net sold in the week prior. The research firm said retailers started off the week by net selling RM21.3 million worth of equities. “International funds were net buyers for 26 out of 46 weeks of 2022, with a total net inflow of RM5.91 billion.
Source:The Edge Markets
November 21, 2022 08:50 UTC
Election ballot box adorns Google Doodle to mark Malaysia's GE15
KUALA LUMPUR (Nov 19): An iconic election ballot box with the Malaysian flag adorns the Doodle of Google Malaysia's search engine homepage as the country holds its 15th general election (GE15) on Saturday. Visitors to google.com.my will see the ballot box together with the Malaysian flag, Jalur Gemilang in between the Google logo, and a little explanation will appear once the ballot box image is clicked. "The 2022 Malaysian general election, formally the 15th Malaysian general election, is scheduled to be held on 19 November 2022 to elect the members of the Dewan Rakyat in the 15th Parliament of Malaysia. Polling stations in Peninsular Malaysia opened from 8am, and those in Sabah, Sarawak and Labuan opened from 7.30am. In Peninsular Malaysia, the stations will close in stages between noon and 6pm.
Source:The Edge Markets
November 19, 2022 23:44 UTC
Floods: Six states still affected as of 4pm Nov 19, says Nadma
KUALA LUMPUR: Six states are still affected by the floods as of 4pm Saturday (Nov 19) compared with seven this morning, with 2,701 victims still taking shelter at 46 relief centres. The National Disaster Management Agency (Nadma) in a statement said that the floods affected 15 districts in the states of Perak, Selangor, Melaka, Johor, Kelantan and Sarawak. "These incidents which occurred in Kedah, Perak, Johor, Kelantan, Selangor, Negri Sembilan, Terengganu and Pahang involved nine federal roads and eight state roads," the statement added. Road users are urged to take note of warnings and refer to disaster information before starting out on their journey. For information and inquiries, contact JKR's disaster operations room at 03-2610 7727 or refer to the website http://bencanaalam.jkr.gov.my or follow @CSFJ_JKR on twitter.
Source:The Star
November 19, 2022 22:24 UTC
‘I wanted to vote for change’, says 40-year-old turned away at polling station as IC used
I wanted to vote for change. This [my IC being used by another person] is not right,” Ainul told The Edge in a phone interview. According to Ainul, she was advised by an EC officer at Sekolah Kebangsaan (2) Taman Keramat (Saluran 6) polling station to lodge a police report. According to her, she was among at least four people who had been turned away at the polling station in the Klang Valley on the same day. The Harian Metro reported another case in Setiawangsa, one involving 36-year-old Aisha Adam, who was not allowed to vote at SK Setiawangsa.
Source:The Edge Markets
November 19, 2022 16:33 UTC
Let’s put all the negativity aside and just enjoy the Beautiful Game
I don’t want to miss any news, especially this month, as the World Cup takes centrestage. But sadly, there is so much negativity surrounding this World Cup in Qatar. It has always been my dream to go to a World Cup and watch matches there. Football is truly global, and it’s not surprising to see so many international fans supporting their teams in the World Cup. The amount of scrutiny in this World Cup is crazy.
Source:The Star
November 19, 2022 09:27 UTC
Giving campaign materials second life after GE15
What becomes of all the campaign posters, banners and bunting after the 15th General Election ends? “However, we have to send damaged or vandalised campaign materials to waste disposal sites while materials that cannot last long will be sent for recycling,” he said. A Barisan Nasional election machinery volunteer for Cheras, Nick Sim, 31, said not all campaign materials would end up as waste or be recycled. Zero Waste Malaysia (ZWM) co-founder and director Khor Sue Yee said the best way to reduce waste was to reuse the materials. Khor said people needed to get more creative by upcycling the campaign materials or fabric used.
Source:The Star
November 19, 2022 09:27 UTC
Free train, bus rides on polling day, says Prasarana
KUALA LUMPUR (Nov 18): Prasarana Malaysia Berhad (Prasarana) is offering free rides throughout polling day for the 15th general election on Saturday (Nov 19), involving all services under Rapid KL, Rapid Penang and Rapid Kuantan. In a statement on Friday, Prasarana said the services include the Light Rail Transit (LRT), Mass Rapid Transit (MRT), monorail, Bus Rapid Transit (BRT) and stage bus. Prasarana also said that My50 pass holders can use the services as usual, while Touch ‘n Go card users can use their cards without any charge. Meanwhile, token users will be required to go to the customer service office at any LRT, MRT, Monorail and BRT station to obtain a special one-way token. For Rapid Bus services in Kuala Lumpur, Penang and Kuantan, including MRT feeder buses, users do not need to scan their card when getting onto or off the bus.
Source:The Edge Markets
November 18, 2022 23:17 UTC
Fiabci Malaysia to be leading voice of the industry, says new president
Newly minted International Real Estate Federation (Fiabci) Malaysia president Datuk Firdaus Musa is a busy man, especially since the start of his stewardship in August this year. That is my mantra for my career.”Firdaus likens the proverb to his journey at Fiabci Malaysia. Starting off as an ordinary member, he was later appointed the evaluator at the Malaysia Property Award for several years, before becoming treasurer for three terms and now, president. “A few initiatives have been planned to further strengthen Fiabci Malaysia. The federation also conducts study tours, and organises the Malaysia Property Award and Fiabci World Prix d’Excellence Awards to recognise projects in Malaysia and abroad.
Source:The Edge Markets
November 18, 2022 14:12 UTC
Formosa Prosonic 3Q net profit gains 77% on higher sales and forex gains
KUALA LUMPUR (Nov 17): Electronic manufacturer Formosa Prosonic Industries Bhd saw its third quarter net profit rise 77.18% to RM44.24 million from RM24.97 million a year earlier, supported by higher sales and gain on foreign exchange. Earnings per share for the quarter ended Sept 30, 2022, increased to 17.32 sen from RM10.09 sen previously, the group’s bourse filing showed. For the nine months ended Sept 30, 2022, net profit rose 42.46% to RM97.84 million from RM68.68 million a year earlier, as revenue increased to RM803.29 million from RM678.34 million. Formosa Prosonic said strong headwinds continued to arise from rising inflation and interest rates, and downward revision to the demand outlook. Formosa Prosoic shares closed unchanged at RM3.18 on Thursday (Nov 17), valuing the group at RM813 million.
Source:The Edge Markets
November 18, 2022 03:08 UTC
New FTX CEO says 'complete failure of corporate control' at crypto exchange
(Nov 17): FTX's new chief executive officer, John Ray, has criticized the oversight of the bankrupt crypto exchange, a court filing showed on Thursday. "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray said. Ray also criticized his predecessor and FTX co-founder Sam Bankman-Fried for making "erratic and misleading public statements". Vox on Wednesday published an interview with Bankman-Fried where he said he regretted his decision to file for bankruptcy protection and criticized regulators. He later attempted to douse the fire, saying the basis of the interview was an exchange of messages that was not supposed to be public.
Source:The Edge Markets
November 17, 2022 21:37 UTC