KUALA LUMPUR (Bernama): The High Court here has prohibited any parties from uploading and sharing any recording of Datuk Seri Najib Razak’s ongoing trial involving SRC International Sdn Bhd funds on social media. Judge Mohd Nazlan Mohd Ghazali said that the court recording and transcription (CRT) was for the court's use and not for public consumption. At the outset, ad hoc prosecutor Datuk V. Sithambaram told the court that the CRT video was uploaded onto social media Facebook last week. “The public and social media users should also be warned not to upload without permission from the court. “We pray for a court order barring third parties from uploading the CRT without permission,” he said.
April 22, 2019 05:03 UTC
China raises about half the world’s pigs, and the spread of African swine fever is causing huge disruption to the supply of pork in the country. “A new hog cycle has started, and this round could be more long-lasting and much stronger, given the outbreak of African swine fever,” Lu Ting, chief China economist at Nomura, wrote in a research note. China has reported more than 100 cases of swine fever to date – from remote areas in the far western Xinjiang region to the southern province of Guangdong that borders Hong Kong. With a reduced pork supply at home, China has had to buy more from overseas. More from South China Morning Post:For the latest news from the South China Morning Post download our mobile app.
April 22, 2019 04:52 UTC
KAJANG: The Malaysian Prisons Department is studying the viability of using artificial intelligence (AI) systems in its facilities. Its director general Datuk Seri Zulkifli Omar said smart technologies could be used to support management and administration within and outside prison walls. "We hope that the use of AI in smart prison systems will enable us to enhance safe incarceration and offer second chances to inmates," he said during his speech at the Intelligent Smart Prison Form at the Prisons Department Headquarters here on Monday (April 22). "Experts from these countries will share their experiences in the use of AI systems. "In embracing smart technology, prisons around the world can learn from each other through existing platforms for regional and international cooperation," he said.
April 22, 2019 04:41 UTC
KUALA LUMPUR (April 22): Malaysia’s ringgit falls and bonds extend losses as fears of a capital flight from the nation persist, with even the revival of a $34b property and transport hub failing to excite traders. * USD/MYR advances 0.1% to 4.1363 after rising 0.5% last week in its fourth straight weekly gain** Resistance 4.1500, 4.1785, 4.1925; support 4.0930, 4.0740, 4.0545* Scotiabank remains bearish on the ringgit amid concern Malaysian bonds may be dropped from the FTSE Russell bond index, says Qi Gao, FX strategist at Scotiabank in Singapore** In near term, MYR will derive support from higher oil prices arising from U.S. sanctions on Iran** If USD/MYR rallies through the 4.15 level, it will head for 4.20* 10-year govt bond yield climbs for a 7th day, rising 3bps to 3.95%, set for its highest close since mid-February* READ: Rate Cut May Not Save Ringgit Bond Rally as Index Outflow Looms* Sentiment toward Malaysian bonds has been damped by FTSE Russell’s move but the scenario for worst-case outflow isn’t likely to materialize, Nik Mukharriz, CIMB fixed-income strategist, writes in note Monday** Any selling will be cushioned by the depth of onshore bond market and ample domestic liquidity* Govt is reviving the Bandar Malaysia project that was started by troubled state fund 1MDB, PM Mahathir Mohamad said Friday* Foreign-exchange reserves data for mid-April are due 3pm local time; no forecast, holdings +0.4% to $103b in the final two weeks of March
Source:The Edge Markets
April 22, 2019 04:30 UTC
PETALING JAYA: A Christian group here has condemned the Easter Day terrorist bombings in Sri Lanka and affirms the right to worship safely. Voicing its sympathies and prayers to the South Asian nation, the Association of NextGen Christians of Malaysia (Ancom) said it rejected all forms of extremism and stands for freedom of religion. "Regardless of the motive, the attacks in Sri Lanka are the same as the traitorous attack in Christchurch: cowardly, barbaric and cruel," said Ancom advisor Jason Leong. Government officials also said major social media networks and messaging apps, including Facebook and WhatsApp, have been blocked inside the country to prevent misinformation and rumours. Meanwhile, Ancom chairman Joshua Huang said, "We must stand together to make sure that no one should ever have to practise their faith in fear".
April 22, 2019 03:56 UTC
PETALING JAYA: A baby died during a flight from Kuala Lumpur to Perth on Monday (April 22) morning, reported Australia's ABC News. When contacted, AirAsia confirmed there was a medical emergency involving an infant on board its Flight D7236. "As a result of the incident, AirAsia's Perth-Kuala Lumpur flight D7237 which was scheduled to depart this morning at 06:50am has been delayed," said the spokesman. The airline said it would assist and re-book guests who have onward connections from Kuala Lumpur Monday afternoon. "AirAsia apologises for any inconvenience caused by the delay of Flight D7237," said the spokesman.
April 22, 2019 03:45 UTC
Investigators said seven suicide bombers took part in the attacks while a government spokesman said an international network was involved. "We are working with Sri Lanka." Buddhist-majority Sri Lanka was at war for decades with ethnic minority Tamil separatists, most of them Hindu, but violence had largely ended since the government victory in the civil war 10 years ago. The U.S. State Department said in a travel advisory "terrorist groups" were plotting possible attacks in Sri Lanka and targets could include tourist spots, transport hubs, shopping malls, hotels, places of worship and airports. GRAPHIC: Sri Lanka bombings - https://tmsnrt.rs/2Xy02BA'CARNAGE'Traffic was uncharacteristically thin in normally bustling Colombo on Monday.
April 22, 2019 03:23 UTC
Remarkably, Sunway College and Sunway University students were leading actively as nearly 6,000 students took the opportunity to participate in the survey. A library of limitless opportunitiesOne of the key mentions was the Sunway Campus Library, which received a top score of No. The library serves Sunway University, Sunway College KL and Le Cordon Bleu within the Sunway campus. It also facilitates staff and some students of the Sunway International School and has reciprocal borrowing privileges with Monash University Malaysia staff and students. Sunway College and Sunway University also practice green activities such as having a water conservation programme, green facilities, recycling and a policy to encourage more walking via connected and covered walkways.
April 22, 2019 02:48 UTC
SHANGHAI: China has named a new chief for Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, people with knowledge of the matter said.Chen Siqing, chairman of Bank of China Ltd., was appointed as party secretary of Beijing-based ICBC at an internal meeting on Monday, the people said, asking not to be identified as the matter is private.Chen is replacing Yi Huiman, who became chairman of the China Securities Regulatory Commission, the country’s top securities regulator, in January.Chen is expected to also be named ICBC’s chairman, a position that has traditionally been held by the same person who has served as party secretary, according to the people.The bank had $4.1 trillion of total assets at the end of 2018.The reshuffle adds to a string of management changes at China’s top financial institutions and regulators. Peng Chun, chairman of Bank of Communications Co. was appointed head of China’s $941 billion sovereign wealth fund earlier this month, while Liu Guiping, vice mayor of the southwestern city of Chongqing, was named president of China Construction Bank Corp. in March.China has yet to fill the chairmen positions at Bank of China and Bank of Communications, the nation’s fourth and fifth largest lenders.The press office of ICBC wasn’t immediately available for comment.ICBC reported a record profit of 297.7 billion yuan ($44 billion) last year after policy makers renewed their push to spur credit amid a deepening economic slowdown.At rival Bank of China, which generated more revenue from overseas operations than any of its domestic peers, earnings grew at the fastest pace since 2014 to 180.1 billion yuan.ICBC currently operates 426 outlets in overseas markets with $384 billion of assets, or close to 10 percent of the group’s total.Running China’s top banks does not come with a lavish pay package. Yi, former chairman of ICBC, earned about $100,250 last year, a fraction of the salaries taken home by JPMorgan Chase & Co.’s Jamie Dimon and Goldman Sachs Group Inc.’s former CEO Lloyd Blankfein.China capped compensation for most senior executives at its biggest banks and other state-owned enterprises in 2015 as part of efforts to combat inequality.Chen, born in 1960, joined Bank of China in 1990 and became its chairman in 2017. - Bloomberg
April 22, 2019 02:26 UTC
KUALA LUMPUR: Construction stocks advanced on Monday with Ekovest and Iskandar Waterfront City (IWC) taking the lead after the government revived the Bandar Malaysia development.At 9.44am, the KLCI was up 5.42 points or 0.33% to 1,627.49. Turnover was 914.35 million shares valued at RM491.93mil. Advancers beat decliners nearly two to one or 338 gainers to 178 losers and 256 counters unchanged.Asian stocks were steady as investors awaited the return of major financial markets from the Good Friday holiday, while oil prices spiked on a report the is likely to ask all importers of Iranian oil to end their purchases or face sanctions, Reuters reported.Equities markets were subdued, with MSCI's broadest index of Asia-Pacific shares outside Japan trading little changed.The index was within reach of a nine-month peak scaled on Thursday after Chinese economic data beat expectations and eased concerns about the health of the world economy.At Bursa Malaysia, IWCity rose 30 sen to RM1.32, Ekovest 25.5 sen to 92.5 sen and Ekovest-WB 24 sen to 42 sen while Ekovest-CT surged 14.5 sen to 21.5 sen.Last Friday, the Prime Minister’s Office (PMO) announced that the government has decided to reinstate the Bandar Malaysia project.The 483-acre Bandar Malaysia project (located on the site of the former Sungai Besi Air Force base) is estimated to generate RM140bil in gross development value (GDV) while attracting foreign direct investments.Cement players Tasek rose jumped 29 sen to RM5.44 and Lafarge Malaysia added 18 sen to RM2.51.DWL Resources was the top gainer, surging 39 sen to RM1.70.DWL appointed former CEO of Mass Rapid Transit Corporation Sdn Bhd Datuk Seri Shahril Mokhtar as its managing director.It had earlier announced it was teaming up with Gadang Holdings to jointly bid for infrastructure projects. Gadang added eight sen to 79.5 sen.Gamuda advanced 18 sen to RM3.26 and MRCB eight sen to RM1.04.
April 22, 2019 02:03 UTC
RECENTLY, there have been many cyber security concerns involving scams and data breaches. This has prompted Asia Pacific University (APU) to address those concerns while demonstrating the university’s strength in providing first-class education in the area of cyber security. In 2018, the Malaysia Computer Emergency Response Team (MyCERT) under Cyber Security Malaysia (CSM) recorded over 10,000 cyber security attacks on corporations and individuals nationwide. These experiences nurture security professionals who are ever-ready to join the cyber security workforce with their practical and technical exposure. Graduates of APU’s digital security programmes are part of the global digital security workforce, as they are employed globally in renowned multinational companies, such as LGMS, FusionEx, Maybank, IBM, Accenture, Standard Chartered Bank and many more.
April 22, 2019 01:52 UTC
There are generally two main types of semiconductor companies in Malaysia: integrated device manufacturer (IDM) and dedicated foundries. “The semiconductor industry is primarily export-based, hence we are competing with global competitors, and the need to adopt best practices quickly and effectively, is crucial. This also includes establishing business strategies and partnerships that can accelerate technology adoption and achieve business efficiencies to drive innovations,” says Raj. While some form of upgrade has already taken place in some parts of the semiconductor industry, these efforts can be further enhanced. Last year, IGSS tied-up with local semiconductor wafer foundry SilTerra Malaysia Sdn Bhd in a technology transfer deal.
April 22, 2019 01:30 UTC
SAN FRANCISCO: Snap Inc’s IPO honeymoon in 2017 gave way to investor lawsuits within 10 weeks. Such lawsuits are a rite of passage for newly public companies, and have become even more common after the 2008 financial crisis, according to Cornerstone Research. The standard claim is that the company’s officers and underwriters overhyped its prospects, leading to investor losses when when the truth comes out and the stock tanks. Since going public, Lyft has declined 19% to US$58.36. Experts say that while the first Lyft lawsuits were on the quick side, some companies have been sued even sooner after their IPOs.
April 22, 2019 01:18 UTC
RUMBLINGS of concern over central bank independence have erupted into full-blown debates on attempts by populist leaders to influence decision-making at central banks. Certainly worried about central bank independence is European Central Bank president Mario Draghi, who in a rare move, voiced his concern “in the most important jurisdiction in the world”. There are other leaders in this populist assault on central banks, said The Washington Post. While central banks should not compromise on their independence in ensuring financial and price stability, the timing and accuracy of their actions is important. Columnist Yap Leng Kuen notes that central banks must be independent and also make the right moves.
April 22, 2019 01:07 UTC
THE historic Masjid Kapitan Kling in Penang can now be visited in virtual reality. Spotted enjoying her first VR experience was mosque committee member Sakinah Bee Mohd Ali. “I can see the ablution water right in front of me,” the 69-year-old business owner exclaimed while wearing the VR headset. Meanwhile, Kapitan Keling Mosque committee chairman Datuk Meera Mydin Mastan said through technology, people could visit the mosque just by wearing a VR headset. The project was a joint effort of the mosque and Canopi, a virtual and augmented reality studio.
April 22, 2019 00:56 UTC