Coffee Break: Ranting about low rents
Overheard at a restaurant: “Rents are so low now that I should just sell the place. Would I continue to accept rental income if I could get a higher yield by selling the property and putting that money in FD, even at 1.75% to 2%? The remaining one-third difference could yield different benefits, depending on what it is spent on: education, vacations or the finer things in life. There are merits to home ownership and not everyone wants to live in neighbourhoods where property prices are north of RM1 million. That does not mean it is no longer important for policymakers to make sure there is enough supply of affordable housing.
Source:The Edge Markets
April 20, 2021 08:03 UTC
Singapore keeps dorm migrants segregated even as Covid-19 abates
(April 20): It’s been a year since migrant workers in Singapore were confined to dormitories to prevent an outbreak of Covid-19 in their ranks from spreading across the island. Like others who form the poorest and least advantaged parts of society around the world, the migrants in Singapore bore the brunt of the pandemic. The government said in parliament in February that the migrant workers were considered a priority group for vaccinations. Seeking workAs in other rich nations that rely on imported cheap labour, Singapore’s migrant workers have always lived with more restrictions than citizens and white-collar expats. “The workers we’ve seen are all in positive spirits,” said Dipa Swaminathan, founder of It’s Raining Raincoats, a local volunteer group that workers with migrants.
Source:The Edge Markets
April 20, 2021 03:56 UTC
New investment policy will be tabled to Cabinet this week, says Azmin Ali
KUALA LUMPUR (April 19): A Cabinet paper on the country's new investment policy will be tabled on Wednesday (April 21), says Senior Minister cum Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali. He said the new policy was to attract more high-quality investors in an effort to make Malaysia a high-income nation, and it was expected to be implemented immediately. In fact, even during my recent working visits to South Korea and Japan, they welcomed the implementation of the new investment policy," he said. Mohamed Azmin said the new policy was also in line with environmental, social and governance (ESG) criteria. On the latest investment in the country by global technology giant Microsoft, he said this was proof that foreign investors were still confident of investing in Malaysia.
Source:The Edge Markets
April 19, 2021 16:41 UTC
Danske CEO bows out over Dutch ABN money laundering inquiry
The Dutch bank also said it had reached a €480 million (US$577 million) settlement over systematic failures to tackle money laundering. And Danske's former CEO, Thomas Borgen, stepped down in September 2018, also over money laundering missteps. While the prosecutors did not name the three individuals, they said they had been identified as suspects "effectively responsible" for breaking the Dutch money laundering act. Prosecutors in September 2019 alleged it failed to spot accounts involved in money laundering, end relations with suspicious clients, and report such transactions. Since ING's fine, leading Dutch banks have invested heavily in increasing their capacity to detect money laundering.
Source:The Edge Markets
April 19, 2021 13:18 UTC
Court: Waytha Moorthy's suit against Ibrahim Ali to continue after mediation fails
KUALA LUMPUR (April 19): The defamation suit filed by former Minister in the Prime Minister’s Department P. Waytha Moorthy against Datuk Ibrahim Ali will proceed, as both parties failed to settle the case through a mediation process at the High Court today. The suit was related to the Parti Bumiputera Perkasa Malaysia (Putra) president’s speech at the party annual general meeting, three years ago. “The defence will be calling four witnesses, including my client (Ibrahim) to testify, while only Waytha Moorthy as the plaintiff, will testify. “But it is subject to any addition of witnesses depending on the necessity,” he said, adding that the mediation process was conducted via Zoom before deputy registrar (Mediation Division) Ahmad Solihin Abd Wahid. On March 14, 2019, Waytha Moorthy, 54, filed the suit after claiming that Ibrahim, 70, who was named as the defendant, had slandered him while making a speech at the meeting organised on Dec 2, 2018.
Source:The Edge Markets
April 19, 2021 10:52 UTC
Covid-19: About 40 Kampar businesses temporarily close to 'Stop the Chain' of infection
KAMPAR: About 40 business premises here have been temporarily shuttered in their bid to prevent the spread of Covid-19. They are part of the "Stop the Chain" campaign started by a businessman in response to the increase in cases in the district. Kampar is now categorised as an "orange" zone with 36 active cases, following a steep surge over the past few days. He said some people were speculating that there were Covid-19 cases at the respective shops, forcing the temporary closure. If there's still no improvement, I will probably continue to close my shops for another week," he added.
Source:The Star
April 19, 2021 08:46 UTC
AIA Malaysia ties up with DOC2US to provide virtual health services and wellness programmes
KUALA LUMPUR (April 19): Electronic prescription (e-prescription) telemedicine provider DOC2US has inked a strategic collaboration with AIA Malaysia to provide virtual health services and wellness programmes to the insurer’s individual and corporate customers. In a statement today, DOC2US said it had successfully completed full integration with AIA Malaysia’s super app, My AIA, to allow users to gain easy access to virtual health services with just a few taps away. DOC2US chief technology officer Tan Aik Keong said AIA customers will now be able to use DOC2US’ digital health services directly via the My AIA app without the need to instal another app. AIA Health Services chief officer Tung Hsiao Ley said the partnership marks an important milestone in its foray into digital health services as the firm enhances and expands its Total Health Solution ecosystem. On top of the in-app integration with My AIA, DOC2US is the only virtual health advisory platform integrated with the MySejahtera app.
Source:The Edge Markets
April 19, 2021 07:07 UTC
Jacky Cheung and Louis Koo conferred honorary awards
Hong Kong singer Jacky Cheung and actor Louis Koo have been conferred honorary awards by the Hong Kong Academy for Performing Arts on April 16. Cheung was given an honorary doctorate while Koo received an honorary fellowship. Hong Kong actor Wong Cho Lam, veteran actor Lau Shun and opera singer Leung So Kam also received the honorary fellowship from the academy. The academy praised Koo, 50, for actively supporting and promoting Hong Kong films and promoting the Asian film industry over the years. "I hope to continue to promote the development of the Hong Kong film industry and nurture a new generation of film talent in the future," he said.
Source:The Star
April 19, 2021 07:01 UTC
Moody's assigns A3 rating to Malaysia's international sovereign sukuks
It said legal opinions have also confirmed legal, binding and enforceable obligations for the Malaysian government. Moody's also noted that its sukuk ratings do not express an opinion on the structure's compliance with Shariah law. The rating agency said Malaysia's A3 rating is underpinned by its diversified, competitive and moderately large economy, strong medium-term growth potential compared with peers, and ample natural resources. A change in Malaysia's sovereign rating will be automatically reflected in the trust certificate ratings of the issuer. “Volatile politics that undermined the credibility and effectiveness of institutions and threatened the stability of capital flows would also be credit negative.
Source:The Edge Markets
April 19, 2021 06:35 UTC
Her body is not her own: Report shows women face many restrictions
Nearly half the women in 57 countries around the world face restrictions on what they can do with their bodies, such as have sex, use contraception or seek health care, the UN said in a recent report. The authors of the report by the United Nations Population Fund addressed for the first time women's bodily autonomy. The study entitled My Body is My Own lists attacks on women in 57 countries, ranging from rape to forced sterilization to virginity tests and genital mutilation. The study looks at restrictions on women deciding what to do with their bodies without fear of violence or a decision from someone else on their physical integrity. The study said only 56% of the countries examined in the report have laws or policies providing for thorough sex education.
Source:The Star
April 19, 2021 06:00 UTC
The unadulterated excess of a US$574,000 Lamborghini
The 2021 Lamborghini Aventador SVJ Roadster is one such unicorn. It has a naturally aspirated V12 engine made by Automobili Lamborghini Holding SpA, at the Lamborghini factory in Bologna, not shared as is so often the case with the Audi-Bentley-Porsche siblings under Volkswagen AG’s maternal wing. Which is to say, don’t buy the Aventador SVJ Roadster if you want something nice for rolling slowly down Rodeo Drive and casual club nights. All those things—especially the magnetism for California Chippies—make this Aventador feel like a true sibling of the glorious and difficult Lamborghinis of the ’70s and ’80s. The SVJ Roadster is as loud, mean, powerful, hot, awkward, big, and fast as the most legendary supercars always have been.
Source:The Edge Markets
April 19, 2021 04:41 UTC
This Malaysian offers relief to the underprivileged through food bank
KSK recently embarked on a food bank project in Pahang to help underpriviledged and marginalised groups, including the Orang Asli. They are in the midst of raising funds for the Bentong Food Bank. Breaking the chain of povertyThong (centre) with volunteers, hopes to help underprivileged families escape the poverty cycle. The group provides the families with essential food items so that they can use whatever money they’ve budgeted for food for their children’s school uniforms, textbooks and other necessities. “Sometimes, the ‘clients’ only need help for six to nine months, and then they are able to get back on their feet, ” says Thong.
Source:The Star
April 19, 2021 02:01 UTC
Tech retakes market lead
Big tech-related growth stocks in other S&P 500 sectors such as Amazon Inc, Tesla Inc and Google-parent Alphabet Inc have also charged higher. The gains have followed a months-long rotation in which tech stocks were outpaced by shares of banks, energy companies and other economically-sensitive names that have surged since breakthroughs in Covid-19 vaccines late last year. The increases in many of these so-called value stocks have slowed lately, while US Treasury prices have come galloping back in April after a sharp first-quarter sell-off. Investors also pointed to the impending influx of quarterly reports as key to determining market leadership, with Netflix Inc and Intel Corp among the major tech and growth company earnings due next week. “Amid increasingly euphoric sentiment, lofty valuations, and peak stimulus, we continue to believe the market has overly priced in the good news, ” BofA’s strategists wrote.
Source:The Star
April 19, 2021 01:41 UTC
The (robot) pizza guy is here
While venture capitalists salivate over sentient transport trucks and robot SUVs that can safely navigate a Boston blizzard, some of the smartest self-driving engineers are making progress flipping chicken sandwiches. But progress is progress. Kiwibot, a five-year-old startup, unveiled a Star Wars-esque droid that looks like a cooler on wheels. With fast-food and sidewalk retail, Nuro, Kiwibot and their rivals are out there getting their repetitions – real-world reps, rather than the simulations self-driving car startups have come to rely on. “She basically said, ‘I saw your robot on the street, and it’s really ugly,” Varela recalls.
Source:The Star
April 19, 2021 01:30 UTC
The bane of modern gadgets
THE camera phone is a boon in my work as a journalist, especially in the last few years, but lately I find this communication gadget is more of a bane. But I admit that this high-technology gadget has more advantages than disadvantages if it is put to good use. As the number grows in China, live-streamers can be a nuisance, occupying public places and recording without getting other people’s consent. Granny Zhang, gained popularity after sharing her inspirational thoughts with a customer Zhang Zhigang, who uploaded video of her at work onto Sina Weibo – Chinese’s Twitter-like social media platform – recently. “There is nothing great, just an old woman making caimo, ” she is seen saying in a follow-up clip by Zhigang.
Source:The Star
April 19, 2021 00:11 UTC