Parents could get arrested if their child commits an offence
BALIK PULAU: Parents of illegal motorcycle racers under the age of 18 can end up with two years’ jail, a fine of up to RM5,000, or both. This could happen once the police applies to impose these penalties against negligent parents under Section 33 of the Child Act 2001 in order to hold parents accountable when their underaged children end up as illegal racers, said Penang deputy police chief Deputy Comm Datuk Fisol Salleh. Under Section 33, parents or guardians who leave their children unsupervised and uncared for under unreasonable conditions and periods can be arrested and charged. DCP Fisol stressed that this path is probably more effective because the cause of this activity starts at home. “When your child takes your motorcycle out without a licence, you should know as a parent.
Source:The Star
August 21, 2022 08:33 UTC
Celebrating the best managed and sustainable properties in Malaysia
KUALA LUMPUR (Aug 21): The Edge Malaysia’s Best Managed & Sustainable Property Awards (BMSPA) 2022 dinner was held at Hilton Kuala Lumpur on Aug 15. In addition to the anchor awards, the BMSPA 2022 also presented The Edge Malaysia-ILAM Malaysia’s Sustainable Landscape Awards 2022, and the Editor’s Choice Awards 2022. Property management firm Henry Butcher Malaysia (Mont Kiara) Sdn Bhd was the star of the awards, winning 10 awards for properties they manage. Other companies that won include Knight Frank Property Management Sdn Bhd, SDB Property Management Sdn Bhd, Rahim & Co International Sdn Bhd, LaurelCap Sdn Bhd, DASB Property Management Sdn Bhd, RCMC Sdn Bhd, Sunway Property & Facility Management Sdn Bhd, Ikano Corp Sdn Bhd and UDA Holdings Bhd. Read more about it in The Edge Malaysia weekly’s Aug 22 edition.
Source:The Edge Markets
August 21, 2022 08:02 UTC
Bursa likely to trade sideways next week
KUALA LUMPUR (Aug 20): Bursa Malaysia is expected to trade sideways next week, with the benchmark FBM KLCI to move between the 1,500 and 1,520 levels amid positive global market sentiment. Weekly turnover widened to 12.58 billion units worth RM9.33 billion from 11.51 billion units worth RM7.86 billion in the previous week. The Main Market volume was higher at 8.54 billion shares valued at RM7.88 billion against 7.77 billion shares valued at RM6.74 billion in the previous week. Warrant volume rose to 1.61 billion units worth RM241.46 million versus 1.47 billion units worth RM240.25 million last week. The ACE Market volume increased to 2.4 billion shares valued at RM1.21 billion from 2.27 billion shares valued at RM886.35 million the week before.
Source:The Edge Markets
August 20, 2022 15:10 UTC
My Say: How to get better at navigating uncertainty
Through literature on topics like ambiguity tolerance, uncertainty avoidance and resilience, it is clear that we can learn to face uncertainty. We discovered it is possible to train your ability to face uncertainty — what I call “uncertainty ability” — like a muscle, both as an individual and as a team. The tool kit is meant to help those facing uncertainty to find the “upside” of uncertainty. Develop your uncertainty abilityThe tools for facing uncertainty are organised into four categories: reframe, prime, do and sustain. PrimePriming makes uncertainty less menacing by helping you develop self-knowledge and the conditions to pursue new projects or navigate unexpected uncertainty better.
Source:The Edge Markets
August 20, 2022 04:39 UTC
AAX slips back into the red in 4Q with RM652.52 mil net loss
KUALA LUMPUR (Aug 19): AirAsia X Bhd (AAX) closed its financial year 2022 (FY22) on a negative note as it slipped back into the red in its fourth quarter ended June 30, 2022 (4QFY22) with a net loss of RM652.52 million. It was profitable in the preceding quarter (3QFY22), when it made a net profit of RM33.62 billion after writing back a similar amount to profit following the completion of the group's debt restructuring. The revenue of AirAsia Aviation Group's low-cost long-haul affiliate dropped to RM107.18 million in 4QFY22 from RM113.01 million in 3QFY22, its Bursa Malaysia filing showed. As travel restrictions gradually relaxed across the region, AAX said it has started operations to Incheon, Seoul and Delhi. AAX shares finished half a sen or 1.02% higher at 49.5 sen on Friday (Aug 19), giving it a market capitalisation of RM205.33 million.
Source:The Edge Markets
August 20, 2022 00:27 UTC
Market conditions are likely to remain mostly indifferent, says Inter-Pacific
KUALA LUMPUR (Aug 19): Inter-Pacific Securities Sdn Bhd said market conditions are likely to remain mostly indifferent as the FBM KLCI appears to be toppish following its 7% rebound in July. However, it said sustained buying by foreign funds helped to limit the day’s losses and kept the key index comfortably above the 1,500 level. “Conditions in the broader market were also mostly directionless and this trimmed the fresh buying interest. Inter-Pacific said with fewer impetuses, and the ongoing results reporting season devoid of significant surprises, the wait and see conditions are likely to stay for the time being. “The sustained support should also keep the key index above the psychological 1,500 level for the time being.
Source:The Edge Markets
August 19, 2022 12:32 UTC
Bursa RISE scheme's 60 participants see 4% rise in share price
KUALA LUMPUR (Aug 19): Bursa Malaysia said the 60 listed companies participating in the Bursa Research Incentive Scheme (Bursa RISE) have seen their share price increase by 4% since the scheme was launched in late March. Bursa’s head of investor development Stephanie Tan said Bursa RISE injected about RM25,000 per listed company per annum. And for companies that require more investor relations assistance, we complement and provide investor relations training,” she said. Bursa expects to see at least 300 listed companies participating in the PLCT programme by 2025. As of June 30, there were 959 companies listed on Bursa.
Source:The Edge Markets
August 19, 2022 08:39 UTC
Kobay 4Q net profit rises 40% on better showing by property business
Net profit rose 40.34% to RM11.94 million, from RM8.51 million in 4QFY21, the group said in a stock exchange filing. It said its property division's profit before tax (PBT) jumped 225% year-on-year to RM4.79 million, due to a pickup in progress billing for its ongoing project. The pharmaceuticals and healthcare products division further improved the group's performance by delivering a PBT of RM3.15 million for the quarter. Other operating segments, which mainly involved property letting business, reported a higher PBT of RM462,000, from RM215,000 previously. For the full FY22, Kobay's net profit surged 91.66% to RM51.29 million from RM26.76 million in the previous financial year.
Source:The Edge Markets
August 19, 2022 02:25 UTC
Cover Story: The State Of The Nation: Urgent rethink of government spending and revenue needed
Other debt paper includes Treasury bills, government housing sukuk (SPK) as well as offshore borrowings. Some RM110.4 billion, or 11%, of Malaysia’s RM1.058 trillion debt paper (as at end-March 2022) matures within a year; and 28%, or RM276 billion, are maturing within three years. Simply put, about half of the current debt paper is likely to be rolled over at higher rates within five years — barring an about-turn in the direction of global rates. Including this year’s estimate of RM43.1 billion, Malaysia would have spent RM468 billion on interest payments for its debt alone since 2000. The RM43.1 billion debt service charges estimated for 2022 are more than double the RM18.18 billion earmarked for education, health and housing under development expenditure for this year.
Source:The Edge Markets
August 18, 2022 18:08 UTC
Bursa erases earlier gains to end marginally lower
The FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.62 of-a-point to end at 1,518.16 compared with Tuesday's close of 1,518.78. Total turnover increased to 2.72 billion units worth RM1.91 billion from 2.69 billion units worth RM2.22 billion on Tuesday. The Main Market volume increased to 1.98 billion shares worth RM1.72 billion from 1.84 billion shares worth RM1.97 billion on Tuesday. Warrants turnover dwindled to 313.18 million units valued at RM44.86 million versus 424.16 million units valued at RM54.67 million previously. The ACE Market volume improved slightly to 432.65 million shares worth RM143.61 million from 432.09 million shares worth RM194.37 million on Tuesday.
Source:The Edge Markets
August 18, 2022 14:31 UTC
In Malaysia, we live in a culture that is very hostile to the poor
And we wrongfully convicted a legal migrant worker, and then wrongfully whipped him before an appeal was heard. But I see them as rather telling of how we treat the poor, the defenceless, and migrant workers. In the case of the mother, she was born and bred in Malaysia, as were her children. The shocking whipping of Sabri Umar, an Indonesian migrant worker, occurred in Tawau, Sabah, on June 23, despite a pending appeal. We live in a culture that is simply hostile to the poor.
Source:The Star
August 16, 2022 01:27 UTC
Further sell-off likely as corporate earnings at risk
Looking at natural gas and crude oil prices, we should see elevated numbers and that definitely will eat into corporate earnings,” he adds. A head of a bank-backed research house who declined to be named thinks the strong rebound in the US markets is not justified in the face of corporate earnings risk. He says investors could consider tech stocks if there is any pullback, as they benefit from a weak ringgit and strong earnings by US tech giants. However, he stresses that the upside in tech stocks is dependent on the Nasdaq, whose valuation has come down because of the US tapering interest rate hikes. He cautions that investors need to be vigilant when it comes to investing in plantation stocks.
Source:The Edge Markets
August 15, 2022 18:04 UTC
My Say: When no consequences result from mistakes
The late great economist Kenneth Arrow wrote an influential paper back in 1962 titled “The economic implications of learning by doing”. I am now, like many Malaysians without a background in naval matters, more informed about the different types of naval vessels. Mokyr, as the title of his book suggests, attributed this growth to “culture”, which is a big concept. It eventually made the suppression of new and different ideas a lost cause. The sustainability of economic growth and all that comes with it depends on its cultural strength.
Source:The Edge Markets
August 15, 2022 09:35 UTC
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Visit to LCS site hints at a long sail towards completion
According to the initial completion deadline, the company should have shown journalists five completed LCS. The navy, the single largest client of BNS, expected the delivery of the first LCS in April 2019. The contention surrounding the LCS project is that RM6.1 billion has been disbursed by the Government for the LCS project, but not one single vessel has been completed by BNS. At one point, there were up to 140 engineers working on the project, Azhar said. All said, showing the LCS project progress is not enough to quell public outcry — rightly so, as the massive project, likely costing more than RM10 billion, is fully-funded by taxpayers' money.
Source:The Edge Markets
August 15, 2022 08:30 UTC
RTM to broadcast 41 Qatar World Cup 2022 matches
KUALA LUMPUR: Malaysians will be able to watch 41 Qatar 2022 World Cup matches for free, which will be broadcast free-to-air by Radio Television Malaysia (RTM). "RTM will broadcast matches involving high-ranking countries that have many fans in Malaysia," he told reporters after launching the "Menjelang Sepak Mula Piala Dunia 2022 Qatar" programme in conjunction with the appointment of RTM as an official broadcaster of the Qatar World Cup, here on Sunday (Aug 14). The Qatar World Cup will be held from Nov 20 to Dec 18. According to Annuar, the matches will be broadcast through three channels namely TV2, TV Okey, Sukan RTM as well as livestreaming via RTM Klik. The Qatar World Cup with the slogan "Now Is All" will take place in eight official stadiums in Qatar involving 32 countries.
Source:The Star
August 15, 2022 00:34 UTC