KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) chairman Datuk Seri Nazir Razak has called for the rapid consolidation of Development Financial Institutions of (DFIs) in the country as there are too many sub-scale DFIs with overlapping mandates. "One of Malaysia’s economic problems is that we have too many sub-scale DFIs and overlapping DFI mandates. "Since the Asian financial crisis, we have transformed our capital markets, our government-linked companies, our banking system and governance of our corporate sector, but we have done little to DFIs,” he said. He lamented the fact that during the COVID-19 economic and health crisis, the DFIs were not strong enough to provide effective countercyclical support to businesses and the economy. "Aside from the possibility of further consolidation, I would suggest that there should be new overall performance measurement, governance and talent management frameworks,” said Nazir.

The Securities Commission Malaysia in partnership with The Edge Communications recently held a roundtable with industry and thought leaders to discuss the strategic priorities of the Capital Market Masterplan 3 (CMP3). For more on the new master plan, visit https://www.sc.com.my/cmp3

Henna tattoo artist Namvinsha Kaur, 30, yearns for the days when she was earning a steady income before the pandemic. In fact, the Taiping, Perak-based person with dwarfism averages one customer a day and earned a meagre RM7 for a simple hand art design during her worst days. Namvinsha launched her henna art business in 2014 as she had difficulties securing an office job despite graduating with a Diploma in Management with Multimedia. Then I decided to venture into henna artwork to earn a living," said Namvinsha, who attended several henna workshops before launching her business. She specialises in intricate Indian henna creations – focusing on flowers, leaves and elaborate bridal designs – and shares photos on her Facebook account.

Growing in tandem to adapt to these changes in business and society has been the digital transformation wave across all Asia Pacific University of Technology and Innovation’s (APU) business programmes. “The skill sets of tomorrow’s business graduates are multi-faceted and technology-infused. Technology has boosted the development of e-business, e-commerce and digital marketing, bringing new dynamics to the globalisation of business. “As a business student at APU, I was consistently reminded of how important technology is in the business sphere. Upon completion of the business degrees at APU, students will be able to apply SAP and ERP to real-life business cases, thus helping increase their employability.

Facilitative ecosystem: (from left) Khoo, Cheong, Tio and Yip speak on the necessity of ensuring proactive measures are taken for business continuity. In line with the title “Opportunities Amidst the Pandemic”, entrepreneur Acid Yong shared her journey from a school teacher to become chief executive officer of Korea Wallpaper Sdn Bhd, then to founder of online durian selling platform Dooran Dooran. PKT Logistics Group Sdn Bhd group chief executive and managing director Datuk Seri Dr Michael Tio also pointed out the importance of taking proactive action to transform and diversify into recession-proof segments to weather unexpected economic storms caused by crises. Business perspective: (from left) Khoo, Yong, Hoh and Lee dive deep into how SMEs can tap into ready opportunities in times of crisis. SOBA 2021 is organised by Star Media Group Bhd with Credit Guarantee Corp Malaysia Bhd, Maxis, PKT Logistics Group Sdn Bhd and RHB Bank Bhd as main sponsors and the Malaysia External Trade Development Corp as official trade promotion partner.

PETALING JAYA: PETALING JAYA: A total of 20,053,472 people (or 85.7% of Malaysia's adult population) have been fully vaccinated against Covid-19 vaccine as of Wednesday (Sept 29), says the Special Committee on Covid-19 Vaccine Supply (JKJAV). In a series of tweets Thursday (Sept 30), JKJAV also said that 94.1% of the adult population (or 22,017,043 individuals) had received at least one dose of a two-dose Covid-19 vaccine. It added that a total of 338,661 Covid-19 vaccine doses were administered throughout Malaysia on Wednesday. Of this total, 190,559 people received their first dose of a two-dose Covid-19 vaccine, while 140,062 people completed their vaccinations. Johor led the way in completed vaccinations with 26,576 getting their second dose of a two-dose Covid-19 vaccine or a jab with a single dose vaccine.

HONG KONG: Scrambling to avoid defaulting on its debts, cash-strapped China Evergrande Group said it plans to sell a 9.99 billion yuan (US$1.5bil or RM6.46bil) stake in Shengjing Bank Co Ltd to a state-owned asset management company. Shenyang Shengjing’s stake in the bank will be increased to 20.79% after the deal to become the bank’s largest shareholder. “The company’s liquidity issue has adversely affected Shengjing Bank in a material way,” Evergrande chairman Hui Ka Yan said in the statement. The Shenyang government said it valued reforms at Shengjing Bank and would strengthen the Communist Party leadership in the bank to help it develop into “a good bank,” according to a statement in July. Shengjing reported a net profit of 1.03 billion yuan (RM666.53mil) in the first half of 2021, down 63.6% from a year earlier.

In fact, many senior citizens are careful and conscientious drivers. They are the ones who cause the blood pressure of law-abiding senior citizens on the road to spike. So, those who passed the test – the current senior citizens – are generally steady, careful and safe drivers. From another point of view, many senior citizens have to fend for themselves on a day-to-day basis. The issue shouldn’t be about senior citizens, who will phase themselves off the roads on their own when the time comes.

My mother, whom I helped to register for the Astra-Zeneca vaccine as a dependant in my MySejahtera app, received her second dose on Aug 18. We are on the last week of September now, but the MySejahtera app on her phone still shows her as “unvaccinated”. Her vaccination details are correct in my phone’s MySejahtera app, however. One told my mother to wait for six months and Putrajaya would then update her vaccination status on her phone’s app. One “helpful” person suggested that I just delete my mother as dependant from my MySejahtera app and her vaccination status would automatically appear in her own phone’s app.

The result came after she underwent mass testing following several positive Covid-19 cases at her workplace. She did not display any symptoms and was ordered by the Health Ministry to observe a 10-day home quarantine. She never takes off her face mask while she is out and seldom goes to crowded places, except to her workplace. Since the pandemic started in March last year, we have been reminded to always wear a face mask, wash our hands and maintain physical distancing at all times. To take things up a notch, the Health Ministry advised us to double mask and use face shields for even better protection against the virus.

As PART of its efforts to help in the battle against Covid-19, Penang Crisis Relief Squad of MCA (CRSM) contributed equipment and other items to government hospitals.To help the six Covid-19 government hospitals in Penang, CRSM gave each RM4,000 worth of medical and sanitising supplies. The collaborative effort by Penang CRSM and MCA Youth saw a campaign launched to collect medical supplies. Penang CRSM leader Edmond Mah and other state MCA representatives presented the aid to Penang Hospital, Balik Pulau Hospital, Seberang Jaya Hospital, Bukit Mertajam Hospital, Kepala Batas Hospital and Sungai Bakap Hospital. “We have been collecting medical supplies through the GoCare crowdfunding initiative,” he said. GoCare Donation Crowdfunding is an initiative by CRSM to help underprivileged individuals.

PETALING JAYA: Malaysians have said that reuniting with their loved ones would be the priority as compared to leisure activities once interstate travel is allowed to resume. RMAF Lt-Kol (Rtd) Rajinder Singh welcomed the decision to potentially allow interstate travel once 90% of the adult population are fully vaccinated. It’s been a while since the family paid her a visit,” said the 61-year-old who is residing here. Civil engineer Seow Zhen Quan was excited by the prospect of finally being able to reunite with his family in Ipoh. Engineer Andrew Ang Kian Siang was also looking forward to the potential implementation of interstate travel as his earlier plans were postponed due to the pandemic.

PETALING JAYA: Singles ace Lee Zii Jia believes his rival, world No. Then, Zii Jia defeated Momota in the quarter-finals to mark his breakthrough win in seven meetings before going on to win the title. “It’s going to be an important match for both of us,” said Zii Jia. Zii Jia, who played Torjussen on Monday, strolled past the the world No. “I could see that Momota’s a bit lacking in confidence,” added Zii Jia.

PETALING JAYA: Despite the challenging business environment due to the Covid-19 pandemic, Green Packet Bhd ’s operational pillars continue to record positive outcomes. “This positive growth highlighted the business’ resilience despite the global shortage in computer chipsets due to the pandemic,” it said in a statement. The group noted Green Packet Global, previously NGT Networks, that oversees the group’s pioneering communications business, recorded positive profit after tax (PAT) for the third straight quarter, increasing by 140% to RM240,000 in Q2’2021 from RM100,000 in Q1’2021. Overall, Green Packet posted revenue of RM124.85mil for Q2’2021, about RM17.86mil lower than what was registered for Q1’2021. The group reported a loss after tax of RM41.1mil in Q2’2021, as compared to a profit after tax of RM18.84mil in Q1’2021.

DATUK Seri Azalina Othman Said (BN-Pengerang) has questioned the delay in the formation of the Special Criminal Court on Sexual Crimes Against Children. She said the special court was supposed to be established nationwide when she was the then law minister in 2017. “We need a special court with a special witness room. The Sexual Offences Against Children Act 2017 was passed when Azalina was the de facto law minister. Azalina also said Johor Ruler Sultan Ibrahim Ibni Almarhum Sultan Iskandar had urged the government to drop its plans to appeal.