Market to rebound in Q4
It is, however, probably going to get worse for the market in the coming months before the expected rebound towards the fourth quarter of this year (4Q23), according to CGS-CIMB Research. “We expect the poor market sentiment to continue for the next few months despite forward valuations falling to two standard deviations below the post-Global Financial Crisis mean,” the brokerage said. These rerating catalysts, according to CGS-CIMB Research, included a weakening of the US dollar, with a convincing break down of the US Dollar Index (DXY) below the psychological 100 mark. “Our earnings gap analysis shows that the FBM KLCI could reach 1,610 points by year-end, and 1,800 points by end-2024,” CGS-CIMB Research said. “With the right triggers in place, upside to the FBM KLCI and FBM100 could be significant, in our opinion, underscored by their multi-year low valuations,” CGS-CIMB Research said.
Source:The Star
June 08, 2023 13:07 UTC
Farm Fresh entry into Inside Scoop a sweet deal
PETALING JAYA: Farm Fresh Bhd ’s completion of its 65% stake acquisition in ice cream chain The Inside Scoop Sdn Bhd (TISSB) for RM84mil holds greater upside potential, says TA Research. Post-acquisition, TA Research said Farm Fresh plans to leverage the expertise and experience of the existing management of TISSB’s Edmund Tan to launch consumer packaged goods (CPG) ice cream by January 2024. “The plan is to introduce a premium version of CPG ice cream under the brand The Inside Scoop and a more affordable version of CPG ice cream under the brand Farm Fresh. “Based on our channel checks, Malaysia’s CPG ice cream market is currently dominated by Unilever and Nestlé,” said TA Research. The integration will also allow Farm Fresh to be more flexible in optimising its profitability along the value chain, it added.
Source:The Star
June 07, 2023 18:25 UTC
Farid Kamil refuses to divorce wife Diana Danielle, case to continue with hakam process
Actor Farid Kamil has refused to divorce his wife, actress Diana Danielle at the Subang Bistari Lower Syariah Court in Petaling Jaya on Tuesday (May 30). "Because the defendant (Farid) disagreed (to utter talak), the court hereby orders this divorce case to continue with arbitration and the court set June 15 for the parties to appoint the hakam (arbitrators)," said Shukran. Diana’s counsel, syarie lawyer Datuk Akberdin Abdul Kader said since the outcome of the JKP report was negative, his party requested Farid (defendant) to utter the talak. "If the defendant (Farid) refuses to pronounce talak, we go to the next stage, which is hakam (arbitration)," he said. The celebrity couple attended Tuesday’s proceeding and Farid was accompanied by his parents Datuk Dr Zahari Che Dan and Datin Sharifah Bardah Syed Abdillah.
Source:The Star
May 30, 2023 20:24 UTC
Six nabbed after brawl in Johor
JOHOR BARU: Five men and a woman have been arrested here in relations to a brawl that went viral on social media. "Following the incident, we have arrested five men and one woman between the ages of 24 and 35 years old. "We urge the public not to sensationalise this matter to the point that it could threaten public order," he said. Earlier, a 28-seconds video of a group of people hitting a man made rounds on social media. In the video, the group could be see pulling the victim's hair, kicking him on the head and using a helmet to hit him.
Source:The Star
May 29, 2023 12:11 UTC
Dear Thelma: I am 23 but my parents still want total control of my life
I feel like I have been denied some of the best experiences at certain phases of my life. I feel I’m being watched all the time. I simply feel incapable and insecure because of my parents’ controlling behaviour which has made me lose a lot of my friends. Your advocate may remind your parents that they can control you now, but your health is suffering and your resentment is building. Hopefully, they will reconsider and accept that at 23 you need to find a job and find your adult feet.
Source:The Star
May 28, 2023 19:29 UTC
From luxury condos to overcrowded quarters
ALSO READ : Foreign workers moving to hostel in Batu MaungWe learned that these workers serve at a successful restaurant in a prime shopping complex here. The MC chairman rang up Pulau Tikus assemblyman Chris Lee, who promptly met the committee to discuss a way forward. “If foreign workers or any other residents become a nuisance, then the police can be contacted to look into the matter. We cannot say we want progress and yet don’t want foreign workers,” he stressed. In the Sungai Ara neighbourhood of landed houses, seven out of 75 three-storey homes were housing 30 foreign workers each.
Source:The Star
May 28, 2023 03:53 UTC
MYFutureJobs Career Fair makes debut in three states
The career fair is the ideal platform to match jobseekers with companies that are looking for talents to fill vacancies and help their business and operations grow. Among participating employers are Honda Malaysia Sdn Bhd, Maybank Berhad, Maxis Broadband Sdn Bhd, Samsung SDI Energy Malaysia Sdn Bhd, Plus Malaysia Berhad, Public Mutual Berhad, 7-Eleven Malaysia Sdn Bhd, Genting Malaysia Berhad, Prasarana Malaysia Berhad, Osram Opto Semiconductors (M) Sdn Bhd, Robert Borch Malaysia Sdn Bhd, Flextronic Technology (Penang) Sdn Bhd and many others from various sectors and industries. For each state, the career fair has received support from the state’s leader or from the Human Resources Minister. For the Penang fair, Human Resources Minister V. Sivakumar will officiate the closing ceremony for the fair. There will also be a Madani Career Booth at each career fair to provide information on Madani Career Incentive 2023 for employers and jobseekers and assist them with applications for these incentives.
Source:The Star
May 27, 2023 11:31 UTC
MN Holdings sees sustained growth momentum
KUALA LUMPUR: MN Holdings Bhd's strong performance over the current financial year hinges on the continued progress and commencement of several major projects, according to managing director Loy Siong Hay. In a statement, Loy said the utilities sector is seeing sustained growth momentum through rising renewable energy adoption, which was further supported by continued activities in the conventional utilities segment including power and gas. In the third quarter ended March 31, 2023, MN Holdings posted a net profit of RM3.7mil, representing an earnings er share of 0.9 sen, which was about double the net profit of RM1.89mil in the previous corresponding quarter. The underground utilities engineering segment continued to be the core contributor, with a 18.36% increase in revenue to RM25.03mil, from RM21.14mil. Over the three quarters to March 31, 2023, MN Holdings had a net profit of RM7.47mil on revenue of RM113.84mil, as compared to net profit of RM6.56mil on revenue of RM78.88mil in 9MFY22.
Source:The Star
May 26, 2023 13:03 UTC
Why is my body changing post-menopause?
And I don’t mean that I was just piling on pounds – the shape of my body was changing. “I started looking up ‘exercises for menopause weight gain’ online but found that all the moves that were suggested were things I was already doing. Facing realityMidlife weight gain is, unfortunately, a reality, says obstetrician and gynaecologist Dr Premitha Damodaran. “Menopausal symptoms – hot flashes, sleep deprivation, mood swings and depression – have all been associated with weight gain. Feminist outlookWhile changing our routine and diet is important, so is changing the way we look at menopause and ageing is also imperative.
Source:The Star
May 25, 2023 10:24 UTC
Penang cops nab five for vandalising car dealerships over debts
GEORGE TOWN: Police here have arrested five suspects who allegedly splashed paint and acid at used car dealerships here. Among them is a 36-year-old man with a criminal record who admitted to the act, Penang police chief Datuk Khaw Kok Chin said here on Wednesday (May 24). They are jobless but we believe that they are (harassing) the used car dealers over debts to loan sharks. "The 36-year-old suspect admitted to acting alone but we believe the other suspects are his accomplices," he told a press conference at state police contingent headquarters. Khaw said the suspects have been remanded and police are still tracking down others who are believed to have abetted them.
Source:The Star
May 24, 2023 19:10 UTC
Parents file report against headmaster’s negligence
A GROUP of parents in Negri Sembilan have filed a police report against a Tamil school headmaster for an alleged lack of transparency in the handling of RM60,000 raised for the school, Malaysia Nanban reported. > A student from Tamil Nadu, India, Keerthy Varma who excelled in Grade 10 exams despite losing both his hands after touching high voltage electrical wires, received state scholarships, Malaysia Nanban reported. Even though both his hands had to be amputated due to that incident, he scored 437 points out of 500 in the Grade 10 exams. ● The above article is compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). Where a paragraph begins with this ' >'sign, it denotes a separate news item.
Source:The Star
May 24, 2023 03:06 UTC
Perak losing cooks seeking greener pastures in KL and Singapore
Perak Ku Soo Shun Choon Hong (Restaurant and Chefs Association) secretary Chooi Chak Lim said this was the issue some of the association’s 400 members were facing. He said cooks here were usually paid RM3,000 per month, but they are offered RM6,500 (S$2,000) in Singapore. “So, many cooks are leaving Perak to seek greener pastures in Singapore. “It is usually the cooks below the chefs who are seeking greener pastures. Perak Coffeeshop Association deputy chairman Ooi Beng Yeaw said many eateries were facing a shortage of cooks.
Source:The Star
May 23, 2023 11:01 UTC
Sleepless nights for folk upset with noise from house-turned-eatery in Kuantan
RESIDENTS in a neighbourhood in Kuantan are fed up with the disturbance they are experiencing since a house in the area has been converted into a restaurant. “It is very noisy and as they operate past midnight, the noise keeps my family up till late at night. Then when the restaurant closes, there is the noise from all the clean-up work. The resident said the noise from the large number of patrons as well as the cacophony of clanging cooking utensils disturbed his family’s peace. Another resident said the restaurant patrons would frequently park their vehicles outside his house, encroaching into his property.
Source:The Star
May 23, 2023 10:04 UTC
AAX places out 32 million shares to raise RM50mil
PETALING JAYA: AirAsia X Bhd (AAX) is placing out 32 million new shares to AHAM Asset Management, AIIMAN Asset Management and Lavin Group for RM50mil. In a filing with Bursa Malaysia, AAX said the proposed placement, which represents 7.78% of the total number of issued AAX shares, will allow the company to raise funds expeditiously to fund the working capital requirements of the group. “It provides an avenue for the group to raise funds without having to incur interest costs or service principal repayments as opposed to bank borrowings or the issuance of debt securities, thereby allowing the group to preserve its cash flows for operational purposes.”
Source:The Star
May 22, 2023 19:36 UTC
Car saleswoman absconds with deposit, customer loses RM90,000
KUALA LUMPUR: A car saleswoman absconded with money meant to pay for a new car, leaving a customer with RM90,000 in losses. The incident was brought to light after a report was lodged with Brickfields police on May 12 by the 36-year-old victim. "However, on May 11, the complainant was informed via a telephone call that the management of the showroom had yet to receive his deposit. He was then told that the suspect was no longer employed by the company," he said in a statement on Sunday (May 21). ACP Amihizam said that the suspect has been identified and investigations are ongoing.
Source:The Star
May 22, 2023 00:31 UTC