KUALA LUMPUR: A 24-year-old Syrian man was killed after he was thrown out of the car he was driving and crushed by the same vehicle during an accident along the Federal Highway early Thursday (Dec 13). Another passenger in the car, also a Syrian, escaped with light injuries. "The car turned turtle and crushed the driver. "The victim's body has been sent to the Kuala Lumpur Hospital for a post-mortem," he said. ACP Zulkefly added that police have ruled out external causes as the road was well lit and the weather was clear.
December 13, 2018 07:18 UTC
KUALA LUMPUR: Eco World International Bhd turned profitable in FY2018 ended Oct 31 with a net profit of RM35.24mil as compared to a net loss of RM87.63mil in the previous financial year due to contributions from its UK joint venture's projects in the Built-to-Rent (BtR) subsector.For the final quarter, net profit jumped to RM70.08mil as compared to a net loss of RM32.56mil in the same quarter last year as it recognised revenue and profit from its UK joint venture. "EcoWorld London’s strong capabilities in the Built-to-Rent subsector enabled EcoWorld International to overcome Brexit uncertainties to record total sales of RM3.3bil for FY2018. "For the upcoming financial year, market conditions in the UK are expected to remain soft at best, at least until Brexit concerns are resolved. "This will be supported by new launches of private residential developments that cater mainly to owner-occupiers in the midmainstream UK market. "The Group will also work on selling the remaining units from its original 3 projects in the UK and 2 projects in Australia to local and international individual buyers."
December 13, 2018 06:33 UTC
BANGI: The promotion of palm oil overseas will fail if Malaysians themselves do not consume it, says Teresa Kok. In Malaysia, however, she said many consumers preferred to use canola, sunflower and soy oil imported from Europe instead of Malaysian palm oil. "We Malaysians don't appreciate palm oil but it is good, nutritious and important for our economy," she said. They include the palm oil, rubber, cocoa, tobacco, timber and pepper sectors. Out of this, RM77.8bil or 55.6% was contributed by palm oil.
December 13, 2018 06:11 UTC
PETALING JAYA: Pulau Kukup cannot be re-gazetted by the Johor state government as a national park, as long as it remains as sultanate land. "It has been confirmed that the Johor state government has decided to re-gazette Pulau Kukup as a national park under the National Parks (Johor) Corporation Enactment 1989. He added that the decision to re-gazette Pulau Kukup as a national park in response to widespread public concern was timely and appropriate. "The only way to overcome this obstacle to re-gazette Pulau Kukup as a national park is for the Johor state government to acquire ownership of the land again," said Surendran. The Johor Crown Prince also said that Pulau Kukup would remain a national park in practical terms, even though it was now sultanate land.
December 13, 2018 05:54 UTC
PUTRAJAYA: Allow space for Malaysian and Singaporean technical experts to settle the Seletar Airport Instrument Landing System (ILS) dispute, says Anthony Loke (pic). "Enough has been said (on the ILS issue). "On any technical considerations, I think I will leave it to the technical experts from both sides to thrash it out," said Loke. The issue arose when Malaysia revealed that Singapore had issued new ILS procedures for Seletar Airport, which was scheduled to be enforced on Jan 3. Pasir Gudang is located just over 2km away from Seletar Airport.
December 13, 2018 05:37 UTC
"I expect more from my players," Mourinho, who made eight changes to the side that beat Fulham 4-1 in the league last weekend, told reporters. "Especially players that week in, week out, they ask why they don't play, why they don't start... it was a good match to play, without any kind of pressure, in a competition that everyone likes to play in." Defeat meant United missed the chance to top the group after leaders Juventus were surprisingly beaten 2-1 by Young Boys. "Before the game I told the players that, if we win tonight and Juventus win, we did our job. If we don't win and Juventus don't win, we can blame ourselves," Mourinho said.
December 13, 2018 05:15 UTC
PETALING JAYA: The MCA central leadership will send a formal letter to the Barisan Nasional supreme council to request the dissolution of the coalition. The party central committee stated that it had met and unanimously resolved to affirm the resolutions passed at MCA's 65th General Assembly on Dec 2. These resolutions included Resolution 1.1, where the assembly authorised the central committee to "pave the way" for Barisan's dissolution. The decision to dissolve Barisan was made after taking into account Malaysia's current political scenario as well as the views of members, the central committee said in a press statement released Wednesday (Dec 12) night. They added that the tabling and approval of the resolution was the party's first step to regain support for a political comeback by being a check-and-balance for the current government.
December 13, 2018 04:18 UTC
(Reuters) - Maurizio Sarri has described the alleged racist abuse of Manchester City forward Raheem Sterling by Chelsea fans as "disgusting" and condemned discrimination in any form in his first public comments on the incident. I think that I have to stop here," the Chelsea manager told reporters ahead of Thursday's Europa League match against Vidi in Budapest. You know very well my opinion, the opinion of the club, but now we have to go on." One of the Chelsea supporters who has been banned admitted directing abuse at Sterling but said the vitriol was 'not racist in nature'. "He (Sterling) was right to say what he said.
December 13, 2018 03:33 UTC
KUALA LUMPUR: The High Court here has denied a bail application from former Goldman Sachs banker Roger Ng Chong Hwa, who is facing three charges in connection to 1Malaysia Development Berhad. High Court judge Justice Collin Lawrence Sequerah dismissed the bail application by Ng on Thursday (Dec 13), saying that there was possibility that the applicant would abscond, among other reasons. Ng, 51, is currently being remanded for 60 days, pending his extradition proceedings at the Sessions Court, scheduled for next week. Amar Singh said they were assisting the US Department of Justice (DoJ). He said the DoJ had to complete all the necessary arrangements and documentations, in relation to the extradition process within the 60-day period.
December 13, 2018 03:33 UTC
PUTRAJAYA : Tan Sri Isa Samad (pic) is expected to be charged on Friday (Dec 14) over the purchase of a hotel in Kuching by Felda Investment Corporation. The former Felda chairman is expected to face a slew of charges including criminal breach of trust. Isa will meet Malaysian Anti-Corruption Commission (MACC) investigators, who will record his statement as final preparations before taking him to court. He was asked to present himself at the MACC headquarters here on Thursday (Dec 13) and is expected to arrive around 11am. The MACC also conducted investigations into FIC's purchases of the Grand Plaza Kensington Hotel, London, and the Merdeka Palace Hotel and Suites in Kuching, which were said to have been made above their actual value.
December 13, 2018 03:14 UTC
Russia fined US Internet giant Google for failing to ban sites ruled to be extremist from appearing in search results. Russia's communications watchdog announced that Google had been fined U$7,530 (RM31,500) for failing to block blacklisted pages under a law that came into force in September. Watchdog chief Alexander Zharov said Google had replied that "they consider they are observing Russian law," Interfax news agency reported. The communications watchdog does not publish the list of banned sites in full though a site's URL can entered to see if it is included. Russia in turn warned Google in September against "meddling" in its local elections by hosting opposition leader Alexei Navalny's videos calling for mass protests.
December 13, 2018 03:00 UTC
SIBU: Owners of vehicles with HID (high-intensity discharge) headlights are strongly advised to take it down as the move to ban it will be enforced next year. Pelawan assemblyman David Wong said the Road Transport Department (RTD) Sibu head Faizal David Jamil had assured him that his department would fully enforce the law next year. “I met Faizal last week during a Charity Without Border event last week. I told him to enforce the law and he gave his assurance that his department would do it,” he added. According to Wong, such headlights were dangerous to other road users as the bright white light could cause temporary blindness and also accidents.
December 13, 2018 01:55 UTC
KUALA LUMPUR: The Malaysia Competition Commission (MyCC) is working closely with the Domestic Trade and Consumer Affairs Ministry to probe into any anti-competitive factors which may have affected the domestic market for chicken eggs.MyCC said in a statement on Thursday that aside from any anti-profiteering issues, it was looking into the possibility of anti-competitive behaviour amongst market players.It cited factors like price-fixing cartels, market sharing and deliberate limiting of production by certain parties.“The commission will take into consideration the daily price and the number of production of chicken eggs in assessing the matter.“In addition, the commission will also take a thorough look at the export of chicken eggs to foreign markets which has increased lately,” it said.MyCC CEO Iskandar Ismail said the commission would not hesitate to take stern action against any companies involved in any type of cartel activities so as to ensure the welfare and interest of consumers in Malaysia are protected.
December 13, 2018 01:52 UTC
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Dec 13. FUNDAMENTALS* Malaysian palm oil futures ended higher on Wednesday, buoyed by gains in soyoil on the U.S. Chicago Board of Trade after President Donald Trump said China was back in the market buying U.S. beans. RELATEDChina makes first big U.S. soybean purchase since Trump-Xi truceCOLUMN-China finally to the rescue of the U.S. soy market? Not yet -BraunU.S. House approves farm bill without tightened food stamps criteriaChina's soybean crushers make biggest loss in 18 months on oversupplyDATA/EVENTSCargo surveyor AmSpec releases Malaysia's Dec 1-15 palm oil export data on Dec 15. Cargo surveyor SGS releases Malaysia's Dec 1-15 palm oil export data on Dec 15.
December 13, 2018 01:30 UTC
KUALA LUMPUR: Kenanga Research has revised its target price slightly for BIMB Holdings Bhd to RM5.05 from RM4.95 and retained its Outperform call.The research house said on Thursday the higher target price was based on a blended FY19E price-to-book value/ price-to-earnings (PB/PE) ratio of 1.5 times /11.9 times (unchanged).This was with price-to-book at one-standard deviation -level below the five-year mean to reflect the risk of uncertainty on the domestic/external front.Kenanga Research said the Outperform call is maintained as its higher loans target with a forward returns on equity (ROE) of more than 14% (vis-à-vis Hong Leong Bank with a forward ROE of 11%) makes it a more attractive proposition.At current price, dividend yield of 4.4% is second only to Maybank (6.3%).On Wednesday, BIMB announced a partial redemption of its 10-year unrated Islamic securities (Sukuk Murabahah) of nominal value at RM1.66bil (issued in December 2013 and fully subscribed by Lembaga Tabung Haji).The partial redemption amounts to RM609.4mil in nominal value. As at Sept 30, 2018, the book value of the sukuk was at RM1.34bil, thus the redemption of RM609.4mil is recorded at a book value of circa RM500mil.Recap, the Islamic sukuk has been a thorn in BIMB ever since the news of a proposed restructuring (with the holding company BIMB to be replaced with Bank Islam taking over the listing status post restructuring), with the redemption of the Sukuk (at the holding company level) will be via proceeds raised from a rights issue (to pay off the RM1.34bil debt); hence diluting its shares.“We are positive on this announcement; giving a clear indication that BIMB will not be raising proceeds via a rights issue in redeeming the Sukuk should the restructuring occur.“Recap also that we highlighted our view that a rights issue will not likely be raised (to clear the Sukuk) as BIMB’s Capital Ratio and CET1 are recorded at 15.6% and 12.7% respectively (at the bank level), is adequate to repay the RM1.34bil Sukuk liabilities.“We understand that the above redemption is not via retained earnings but via internal cash and funds. We also understand that with the RM500mil redemption, there will be a cost saving of circa RM31mil thus improving its bottom-line moving forward,” said Kenanga Research.
December 13, 2018 00:56 UTC