Korean kimchi winning hearts globally, including in Malaysia
Hence, it was not a surprise when the headline "South Korea's Kimchi Exports Hit New High in 2021" appeared on the news feed recently. In Malaysia, such dominance of influence is also apparent, what more with so much more exposure of South Korean entertainment on Netflix in the domestic market. World Kimchi Institute research group leader Dr Lee Chang Hyeon told Bernama that South Korea's kimchi exports have steadily increased over the past five years. "If there are more than 100 countries importing Korean kimchi, we will continue to expect a trade surplus due to the increase in kimchi exports. In the quest to build trust in Korean kimchi, the National Geographical Indication System has been in force since 2021 that allows Korean kimchi manufacturers to officially mark and use the name "Republic of Korea" for kimchi made from Korean ingredients.
Source:The Edge Markets
February 20, 2022 15:40 UTC
Investors regain appetite for commercial property investments in Asia-Pacific
“Should this be achieved, it would set a historical high for annual commercial real estate transaction volume in the region,” says the firm. Investors from Singapore, Australia and South Korea displayed the strongest intention to purchase real estate in the region. Moreover, banks in the region remain accommodative towards lending for commercial real estate acquisitions while continuing to closely monitor residential lending to avoid overheating. Despite the ongoing pandemic-related uncertainty and aggressive pricing for well-located high-quality assets, investors are still seeking higher returns. Compared with 2021, more investors expect office demand to increase slightly (+10%) over the next three to five years.
Source:The Edge Markets
February 19, 2022 19:59 UTC
MoF allocates RM1.7bil for MySTEP 2022 to create 80,000 jobs this year
KUALA LUMPUR: The Ministry of Finance (MoF) has allocated RM1.7 billion for the Malaysia Short-term Employment Programme (MySTEP), with the target of creating 80,000 jobs this year. Minister Tengku Datuk Seri Zafrul Abdul Aziz said the jobs could be applied online at http://www.mystep.mof.gov.my/. "Nearly 560,000 jobs were created in 2021 against the initial target of 500,000," he added. Meanwhile, Tengku Zafrul said according to the latest report published by the International Labour Organisation, the global unemployment rate is expected to remain at 207 million persons this year, compared to 186 million in 2019. "In this regard, the government's policies are aimed at avoiding long-term effects on the labour market, household income, and social cohesion.
Source:The Star
February 19, 2022 17:45 UTC
CPO prices to continue supply-led rally this year
CRUDE palm oil (CPO) prices are likely to remain elevated in the first half of 2022 before potentially falling in the second half. Mohd Haris adds that the group does not foresee palm oil production in Malaysia improving significantly in 2022, compared with 2021. We should be looking at CPO prices ranging between RM5,000 to RM5,500 per tonne in the first half,” he says. It has come to a point where prices are so painful, that demand may just collapse and then, the prices will correct. He also points out that biodiesel mandates is another factor behind elevated CPO prices.
Source:The Star
February 19, 2022 12:08 UTC
MoF allocates RM1.7b for MySTEP 2022 to create 80,000 jobs this year
KUALA LUMPUR (Feb 19): The Ministry of Finance (MoF) has allocated RM1.7 billion for the Malaysia Short-term Employment Programme (MySTEP), with a target of creating 80,000 jobs this year. Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the jobs could be applied online at http://www.mystep.mof.gov.my/. Through the JaminKerja initiative, the government pursues the spirit of the job guarantee concept, he said. Meanwhile, Tengku Zafrul said according to the latest report published by the International Labour Organization, the global unemployment rate is expected to remain at 207 million persons this year, compared with 186 million in 2019. Read also:JaminKerja initiative manifestation of govt's commitment to creating 600,000 jobs this year — PMGovt holding engagement sessions on RM1,500 minimum wage — PM
Source:The Edge Markets
February 19, 2022 06:33 UTC
Oiltek International launches IPO to ride on growing renewables space
SINGAPORE (Feb 18): Oiltek International, a subsidiary of Koh Brothers Eco Engineering, has launched its Catalist initial public offering (IPO) to raise gross proceeds of some S$5.2 million. The issue consists of 22.5 million new shares priced at 23 (Singaporean) cents each. Out of which, 22 million shares are set aside for the placement tranche, with...(click on link for full story on theedgesingapore.com)
Source:The Edge Markets
February 19, 2022 05:56 UTC
Buying beaten-down stocks
Most of the funds and professional money managers would have exposure to these stocks if they have the mandate to invest in technology or foreign stocks. The table shows the variance between the 52-week high of their respective share prices against the share price today. Whenever a company’s share price takes a hit, it is very important to ask oneself this question. Through his vehicle, Daily Journal Corp where he is the chairman, Munger has doubled his stake in Alibaba as the share price continues to skid. A long-term investment horizon would also help ease the decision-making process in buying beaten-down stocks.
Source:The Star
February 19, 2022 01:38 UTC
Telcos agree on DWN model
PETALING JAYA: Celcom Axiata Bhd, Digi Telecommunications Sdn Bhd, Maxis Bhd and U Mobile Sdn Bhd have submitted a proposal for the establishment of two Wholesale Networks (Dual Wholesale Networks or DWN), which will be developed and operated by two consortiums involving the government, Digital Nasional Bhd and mobile network operators (MNOs) who are ready to invest. “We see the DWN model as a feasible option that leverages MNOs capabilities, existing resources, including infrastructure, supply chain and the experience of thousands of Malaysian technical talents. “We are committed and we look forward to playing our part in realising the long-term sustainable benefits to the nation, a win-win solution for the government, rakyat and the industry. As the matter will be tabled to the cabinet, as announced by our Minister of Communications and Multimedia, we will respectfully wait for the decision from the government,” the telcos said. The telcos reiterated their full support towards the government’s agenda through the MyDigital initiative and the development of the digital economy in Malaysia where 5G networks are among the critical infrastructure.
Source:The Star
February 19, 2022 01:14 UTC
Buyers wanted for world's biggest cruise ship before builder's cash runs out
Morgen says his priorities include finding buyers for the shipyards under MV Werften and the Global Dream vessel. He’s optimistic a deal will be struck before or by summer, when the shipyard in Wismar, Germany that’s building the mega Global Dream runs out of money. The fully financed plan detailed how MV Werften would pay all its creditors in the liquidation process, and the plan had been analysed by an independent auditor. “MV Werften planned to finish construction of the vessel, repay all debt, repay the state and have some equity value left,” said Morgen. Habeck said Monday that the government would be willing to subsidise the final construction of the Global Dream with a “new reliable investor”.
Source:The Edge Markets
February 18, 2022 17:30 UTC
Temasek-backed fund amasses US$10b for global foray
But far from enjoying a quiet retirement, the 74-year-old has built one of Singapore’s fastest-growing investment firms with plans to make it a global player. “My vision was Avanda should help Singapore and Asian investors invest globally and help global investors invest in Asia,” Ng said in his first-ever interview about the firm, where he is the executive chairman. Avanda is also bigger than any Singapore-based hedge fund; the largest one manages US$7.66 billion, according to With Intelligence data. Ng sees Avanda as an asset manager and not a hedge fund, partly because it’s a long-only investor. Its first fund, Avanda Global Multi-Asset Fund, backs a range of global public equities, bonds and currencies while others focus on Asian stocks, global fixed income and even private deals.
Source:The Edge Markets
February 18, 2022 14:20 UTC
Covid-19: Physical MySejahtera helpdesks to operate from Feb 19, says Khairy
PUTRAJAYA: The Health Ministry will set up physical helpdesks in selected locations to help resolve technical issues involving the MySejahtera application, says Khairy Jamaluddin. The Health Minister said the first physical helpdesk will begin operating at the vaccination centre in World Trade Centre Kuala Lumpur this Saturday (Feb 19) and Ideal Convention Centre, Shah Alam on Feb 26. "Those who have problems with their vaccination certificates and others can visit the physical helpdesk to solve their problems. He said the ministry would expand the physical helpdesk facility to other states in the near future and the matter would be announced from time to time. In the meantime, Khairy said an announcement on the isolation protocol for close contacts will be made next week.
Source:The Star
February 18, 2022 09:20 UTC
Malaysia among countries probed by India for export subsidisation of chemical
KUALA LUMPUR (Feb 17): India has initiated a probe into alleged subsidisation by Malaysia, Indonesia and Thailand on exports of a chemical — used in making personal care products such as shampoo, soap and detergents — which is impacting the domestic industry. It said VVF India Ltd has filed an application before the directorate alleging subsidisation of the alcohol from Indonesia, Malaysia and Thailand. The report added that the company has requested the initiation of an anti-subsidy probe for levy of countervailing duties on the imports from these countries. The company has alleged that producers and exporters of the product in these countries have benefited from subsidies provided by their respective governments at various levels. “In view of the above position, the authority hereby initiates an investigation into the alleged subsidisation and consequent material injury and threat of injury to the domestic industry,” it has said.
Source:The Edge Markets
February 17, 2022 17:51 UTC
Datasonic secures RM50.11mil contract from Home Affairs Ministry
KUALA LUMPUR: Datasonic Group Bhd has secured a contract worth RM50.11mil from the Home Affairs Ministry for the supply of MyKad, MyTentera, MyPOCA raw cards and consumables to the National Registration Department. In a filing with Bursa Malaysia, Datasonic said its wholly owned subsidiary, Datasonic Technologies Sdn Bhd (DTSB) received the letter of award (LoA) from the Home Affairs Ministry. The contract is for a period of 12 months commencing from Feb 15, 2022, to Feb 14, 2023. Under the terms of the LOA, DTSB was required to furnish a performance bond for the amount of RM2.5mil to the ministry with a two-year validity period commencing from Feb 15, 2022. Datasonic expects the contract to contribute positively towards the future earnings and assets per share for the financial year ending March 31, 2022, and the financial year thereafter for the duration of the contract.
Source:The Star
February 17, 2022 12:43 UTC
Sime Darby, Capital A, AAX, MGRC, Mr DIY, Heineken Malaysia, InNature, SAM Engineering, KLK, Gas Malaysia, DNeX, Sunzen Biotech, Scomi and Bintai Kinden
KUALA LUMPUR (Feb 16): Based on corporate announcements and news flow on Wednesday (Feb 16), companies that may be in focus on Thursday may include Sime Darby Bhd, Capital A Bhd, AirAsia X Bhd (AAX), Malaysian Genomics Resource Centre Bhd (MGRC), Mr DIY Group (M) Bhd, Heineken Malaysia Bhd, InNature Bhd, SAM Engineering & Equipment (M) Bhd, Kuala Lumpur Kepong Bhd (KLK), Gas Malaysia Bhd, Dagang NeXchange Bhd (DNeX), Sunzen Biotech Bhd, Scomi Group Bhd and Bintai Kinden Corp Bhd. AirAsia X Bhd’s (AAX) net loss narrowed to RM11.94 million for its second quarter ended Dec 31, 2021, from RM149.14 million in the immediate preceding quarter due to lower operating costs. Boosted by sharply higher palm oil prices, Kuala Lumpur Kepong Bhd’s (KLK) net profit jumped 67.69% to RM599.32 million for the first quarter ended Dec 31, 2021 from RM357.41 million a year earlier. Gas Malaysia Bhd has reported a 0.1% increase in net profit for the fourth quarter ended Dec 31, 2021 to RM69.29 million from RM69.23 million a year earlier. Bintai Kinden Corp Bhd has redesignated its deputy chief executive officer Noor Azri Azerai as the group’s executive director.
Source:The Edge Markets
February 17, 2022 03:42 UTC
Review of supplementary electoral rolls open until March 17
JOHOR BAHRU (Feb 16): The Supplementary Electoral Rolls for January 2022 (DPT BLN1/2022) is open for review for 30 days until March 17 after being certified and gazetted on Wednesday. "The DPT BLN1/2022 contains the names of 36,408 Malaysian citizens aged 18 years and above from Jan 1 to 31 2022 who are automatically registered as new voters. According to him, if they find their names not listed in the DPT BLN1/2022, they can fill out Form C online at the link https://myspr.spr.gov.my or go to the relevant State election office. “Forms C and D can also be downloaded from the State election office portal at the link http://ppn.spr.gov.my and must be submitted to the relevant state election director during office hours on any working day during the DPT BLN1/2022 review period. "For any inquiries on the DPT BLN1/2022 review, the public can browse the EC’s official portal at https://www.spr.gov.my or call the EC Hotline at 03-8892 7018 or any State election office," he said.
Source:The Edge Markets
February 16, 2022 22:58 UTC