KUALA LUMPUR (Jan 1): The Ministry of Tourism, Arts and Culture (MOTAC) is giving a 40% discount in compound payment to licensed tourism operators and tour guides. The ministry, in a statement on Saturday, said the compound payment period has also been extended until June 30 for all compounds issued them. “Nevertheless, failure to settle the compounds issued could result in action being taken against the relevant companies or tour guides,” it said. This is on the condition that the tourism operators and tour guides concerned submit their applications within 30 days after the expiry of the licence, it said. During the recovery period, the ministry also issued licences to tour companies without inspecting their premises, but the inspection will be carried out within 90 days after the licence is issued.

KUALA LUMPUR (Dec 31): Malayan United Industries Bhd (MUI) has said its British unit is disposing of a land together with a 111-room hotel in Shirley, West Midlands for £6.5 million (RM36.22 million). The Regency Hotel Hospitality Ltd, a wholly-owned indirect subsidiary, is selling the property to Westbourne Leisure Ltd, MUI said in a bourse filing. "In addition, as some proceeds are earmarked for the repayment of bank borrowings, the group anticipates deriving potential finance cost saving as well as being able to reduce its gearing level. "This in turn will reduce the indebtedness and repayment obligation of the group, and thereby improving the liquidity position of the group moving forward," added MUI. MUI's shares closed unchanged at seven sen, with a market capitalisation of RM205.28 million.

KUALA LUMPUR: Some 2,692 individuals were detained for driving while intoxicated throughout 2021, says Deputy Comm Datuk Mohd Nadzri Hussain. The JSPT also issued 24,293 summonses for various traffic offences in 3,017 "Ops Samseng Jalanan" conducted between Jan and Dec last year, he added. "We also detained 2,491 individuals for several traffic offences, including driving and riding without a licence. "The objective of the operation was to reduce the number of fatal accidents, ensuring motorists abided by traffic laws and ensuring smooth traffic. "We are always consistent in focusing on enforcing traffic laws and regulations," he said.

KUALA LUMPUR (Dec 31): Global auto industry conditions could potentially improve in 2022, with demand recovering further and supply chain challenges gradually easing. In a visual presentation this month on its website, Fitch Ratings in its "2022 Global Auto Outlook" said worldwide sales are forecast to increase but likely to remain about 6% below pre-Covid-19 pandemic levels of 2019. Fitch said semiconductor availability should modestly increase on a sequential basis through 2022, but supply chains remain vulnerable to the trajectory of the pandemic. "We expect the supply-demand mismatch that led to very strong vehicle net pricing and mix benefits in 2021 will continue in 1H22 (the first half of 2022). "However, recovering production and rebuilt inventories could lead to pricing, mix and margin normalisation in 2H22," it said.

KUALA LUMPUR (Dec 31): The government will continue with the current parameters of the Incentive-Based Regulation (IBR) for the “regulatory period 2 extension,” and stick to the current electricity tariff schedule, effective from Jan 1, 2022 until further notice. It has also decided to continue with the implementation of the Imbalance Cost Pass-Through (ICPT) mechanism and maintain an ICPT rebate of 2.00 sen/kWh currently implemented on all customers, including domestic customers with monthly consumption of 300 kWh and below, effective from Jan 1, 2022, until further notice, Tenaga Nasional Bhd (TNB) said in a filing to Bursa Malaysia. “TNB also wishes to inform that the impact of ICPT implementation, based on the Regulatory Implementation Guidelines, is neutral on TNB and will not have any effect on its business operations and financial position,” it said. Further details on the ICPT implementation can be obtained at the Energy Commission website: http://www.st.gov.my/Electricity customers also can estimate future ICPT impact using the ICPT Calculator available at www.myelectricitybill.my.

This will be achieved on the back of normalisation of operations with 100% workforce capacity, elevated average selling prices (ASPs) and resilient demand. In a report, Kenanga Research estimated that plastic players operated at a utilisation rate of 65% to 75% in Q4, versus 55% to 60% in Q3. Some of the plastic players have orders up to the first quarter of 2022. Logistic disruptions and the electricity crisis in China were the main reasons driving resin prices sharply higher for the period. As resin prices rose significantly, plastic players have adjusted their ASPs across products, passing through the higher cost to customers.

PETALING JAYA: South Korea-based printed circuit board (PCB) manufacturer, Simmtech, will be investing RM508mil to set up its first large-scale factory at the Kawan Industrial Park in Penang. Simmtech and the Malaysian Investment Development Authority (Mida) said in a joint statement that the new factory will create more than 1,000 high-skilled jobs in engineering, manufacturing and quality management by the first half of 2022. “The factory will be manufacturing the region’s first packaging substrates for dynamic random-access memory chips and high-density interconnect PCB for memory module/solid state drive devices. “Mida welcomes Simmtech and its prospects in nurturing Malaysians to equip themselves with the technological skills for the current industry’s needs and beyond. Through the new substrate and PCB factory, Simmtech and Mida said Malaysia’s robust ecosystem as a hub for advanced manufacturing will be strengthened, while serving as an important link in driving the global semiconductor value chain.

KUALA LUMPUR (Dec 31): A wide first quarter-fourth quarter spread in 2022 northeast Asian delivered LNG prices in recent months, against a comparatively flat oil-linked price curve, has offered a strong incentive for long-term LNG buyers to bring forward supply from the start of next winter to the start of 2022. The premium for spot LNG prices over corresponding oil-linked prices further along the curve was considerably less — US$14.42/mn Btu for the second quarter, and US$14.64/mn Btu and US$15.77/mn Btu for the third and fourth quarters, respectively. It said term contracts generally include some volume flexibility, typically equivalent to around 10% of the annual contractual quantity. Similarly, it said producers facing stronger supply obligations under term contracts may have limited spare capacity to produce additional cargoes for the spot market, reducing overall spot activity. However, Argus said stronger contractual receipts over the first quarter of 2022 would leave buyers more reliant on spot supplies over the remainder of the year, and producers with more spot cargoes to offer.

PETALING JAYA: Those who are eligible for a booster shot and have not received a MySejahtera appointment may register on the waitlist at the vaccination centres (PPV) of their choice. Malaysia has revised the booster dose vaccination interval period to three months, including for Covid-19 booster shots for Pfizer and AstraZeneca (AZ) recipients. Those who have already received an appointment for the booster dose on MySejahtera, please:1. Members of the public who are eligible for the booster dose are urged to have an appointment to be vaccinated immediately. To date, there are 1,951 private health facility PPVs (private clinics, private specialist hospitals, private hospitals and ambulatory care centres), 76 off-site PPVs and 72 outreach PPVs under ProtectHealth.

KUALA LUMPUR: There could be a buying opportunity in Bursa Malaysia's gaming counters following the recent dip in share prices due to Omicron concerns, says RHB Research, which has an "overweight" call on the sector. The research firm likes both Genting Malaysia and Genting as they are poised to return to profitability in 2022 with all their facilities having reopened. RHB said Genting is its sector pick for its attractive 6.2x FY22F EV/EBITDA valuation, providing a cheaper alternative for investors to position for a recovery play. Among numbers forecast operators, RHB prefers Magnum as its ticket sales recovery has been encouraging and is expected to continue due to the popularity of the games. Article type: metered User Type: anonymous web User Status: Campaign ID: 46 Cxense type: free User access status: 3Join our Telegram channel to get our Evening Alerts and breaking news highlights

KUALA LUMPUR (Dec 30): The global microchip shortage cost the auto industry millions of lost vehicles and billions in revenue last year, and this situation is expected to linger into the first half of 2022. A vehicle plant normally works in two production shifts, five days a week, for a total of 10 shifts. That same process at a microchip plant takes up to five years. And while it takes 15 to 30 hours to build a vehicle, it takes five months to produce, package and ship a microchip to an automaker for installation. And 80% of the reason for those gaps are the generous incentives given by Asian governments, the weekly reported.

KUALA LUMPUR (Dec 30): The Ministry of Finance (MOF) announced on Thursday (Dec 30) that the stamp duty cap for the trading of shares will be reinstated at RM1,000, with a rate of 0.15%, confirming a report by theedgemarkets.com. Previously, the government had proposed for a hike in the stamp duty rate to 0.15% versus the 0.1% currently in force, and for the abolition of the RM200 cap on the duty. Bursa Malaysia had earlier said an estimated 10% of the trade value on the local bourse might be affected by the increase in stamp duty rate to 0.15% from 0.1%. Others have said the move would deter high-volume traders and speculators, and that while the stamp duty was a good way to increase government revenue, the 0.05-percentage-point hike was deemed too drastic. Read also:Govt to reinstate stamp duty cap for share transactions at RM1,000 per contract note, maintain higher rate of 0.15% — sourceMOF: Individuals to be exempted from tax on foreign-sourced income

BENGALURU (Dec 30): Lynas Rare Earths Ltd said on Thursday (Dec 30) it had received environmental approvals from Malaysian authorities to build a permanent disposal facility for water leached purification residue in the country. The Australian rare earth miner said it had done detailed assessments for the proposed facility in the Gebeng Industrial Estate. Lynas, the world's biggest rare earth miner outside China, in late August received an extension of the deadline due to the Covid-19 pandemic to satisfy licence conditions to build the permanent facility. Australian rare earth miners have recorded strong gains this year on increasing popularity of electric vehicles amid a global push to reduce carbon emissions. Lynas shares have more than doubled so far this year and are on track for their best year since 2017.

GENEVA: The World Health Organisation (WHO) cautioned on Wednesday (Dec 29) that the more transmissible Omicron together with the currently circulating Delta variants might lead to "a tsunami of cases," putting immense pressure on national health systems, said Xinhua. Recapping WHO's response since the onset of the Covid-19 pandemic, WHO Director-General Tedros Adhanom Ghebreyesus (pic) said at a press briefing that he was "highly concerned that Omicron being more transmissible, circulating at the same time as Delta - is leading to a tsunami of cases". "This is and will continue to put immense pressure on exhausted health workers and health systems on the brink of collapse and again disrupting lives and livelihoods," he said, citing the pressure as not only new Covid-19 patients requiring hospitalisation but also a large number of health workers were getting sick themselves. Tedros reiterated his concern over a recent narrative that Omicron has been causing milder or less severe infections. "I think it's really important over the coming weeks that we keep suppressing transmission of both variants to the minimum," he added - BERNAMA

KUALA LUMPUR: A total of 22,851,542 individuals or 97.6% of the adult population in the country have completed their Covid-19 vaccination as of Wednesday (Dec 30). Based on the Health Ministry’s CovidNow portal, 23,146,049 individuals or 98.9% of the adult population have received at least one dose of the vaccine. For the adolescent population, 87.4% or 2,752,103 individuals of those aged between 12 and 17 have completed the vaccination and 2,844,678 individuals or 90.3% have received at least one dose of the vaccine. On Wednesday, a total of 185,321 doses of the vaccine were dispensed, with 3,364 as first dose, 4,900 as second dose and 177,057 as booster dose, bringing the total number of vaccine doses administered under the National Covid-19 Immunisation Programme to 57,305,127, including 5,908,852 booster doses.