China central bank official says growth to be back on track soon
(Jan 8): China’s economic growth will return to its “normal” path as Beijing provides more financial support to households and private companies to help them recover after the nation ended its zero-Covid policy. Guo pledged to use financial policies to boost the income of people affected by Covid outbreaks to meet basic demands and enhance consumption. The financial sector should also develop products that will encourage home and car purchases, he said. The Chinese yuan, Guo said, will continue to fluctuate but will continue appreciating in the mid to long term. Meanwhile, the country needs to stay on high alert for imported inflation even as domestic prices remain stable, he said.
Source:The Edge Markets
January 08, 2023 14:19 UTC
KTMB provides additional ETS services for Chinese New Year
KUALA LUMPUR (Jan 8): Keretapi Tanah Melayu Bhd (KTMB) will provide two additional electric train services (ETS) for the KL Sentral to Padang Besar route, and vice versa, in conjunction with the upcoming Chinese New Year celebrations. “The additional ETS train will depart at 5.05pm from KL Sentral and is expected to arrive at Padang Besar at 10.34pm, while the train from Padang Besar will depart at 11am and arrive at KL Sentral at 4.36pm. “This additional train offers 630 tickets daily; a total of 3,780 tickets, including business class coaches," read the statement. “The public is encouraged to purchase tickets through the KTM mobile application (KITS) or on the KTMB website https://www.ktmb.com.my for easier and faster cashless purchases. For further information, commuters can contact KTMB Call Centre at 03-2267 1200 or visit KTMB's official new media channel, as well as the KTMB website https://www.ktmb.com.my.
Source:The Edge Markets
January 08, 2023 06:09 UTC
'Bonus Hadiah Keluarga TM' programme a scam, TM tells customers to ignore it
KUALA LUMPUR (Jan 7): Telekom Malaysia Bhd (TM) has issued a warning to all customers that there is a scam email being circulated that claims to be from the company notifying customers that they are winners of cash prizes under a programme called “Bonus Hadiah Keluarga TM”. In a statement on Saturday (Jan 7), TM said the message would then request for the recipients to provide their personal details to enable them to claim the cash prize. "We would like to clarify that these emails were not issued by TM, and we strongly advise the public to ignore them," it added. "At TM, the safety and security of our customers remain the highest priority, and we strongly condemn such unscrupulous activities. Read also:No email, message sent to public to claim cash prize, says MCMC
Source:The Edge Markets
January 07, 2023 16:24 UTC
Pharmaniaga expands distribution capacity in northern Peninsular Malaysia
GEORGE TOWN (Jan 6): Pharmaniaga Logistics Sdn Bhd (PLSB), a wholly-owned subsidiary of Malaysia’s leading pharmaceutical company Pharmaniaga Bhd, has officially opened its new distribution centre in Penang. Located in Phase 4 of the Prai Industrial Zone in Penang, the new distribution centre is also part of PLSB’s management office relocation, as well as warehouse expansion, which has been initiated since April 2021. “We target to increase our current distribution capacity significantly, which is in line with our business growth, while improving PLSB’s existing logistics services level and fulfilling customers’ orders in a timely manner across the northern region of the peninsula. “The new distribution centre boasts a total of 3,500 pallets of warehouse space for controlled medicines and medical devices,” Zulkarnain said. “With this new expansion, our northern region distribution centre capacity for 2021 has significantly increased to 180% compared to 2020.
Source:The Edge Markets
January 07, 2023 02:14 UTC
Bursa ends almost flat on first trading week of 2023
Turnover eased to 3.16 billion units worth RM1.62 billion against Thursday's 3.31 billion units worth RM1.96 billion. Sector-wise, the Financial Services Index fell 8.88 points to 16,415.48, the Plantation Index decreased 74.64 points to 6,890.17, the Industrial Products and Services Index shed 0.19 of-a-point to 181.67, and the Energy Index perked up 3.71 points to 777.59. The Main Market volume slipped to 2.09 billion shares worth RM1.19 billion from Thursday's 2.28 billion shares worth RM1.60 billion. Warrants turnover dwindled to 279.76 million units worth RM61.91 million from 319.36 million units valued at RM71.90 million on Thursday. The ACE Market volume swelled to 797.13 million shares worth RM363.43 million from 707.22 million shares worth RM287.34 million previously.
Source:The Edge Markets
January 07, 2023 00:41 UTC
Russian content creator claims Merdeka 118 video is ‘real’, announces NFT release
PETALING JAYA: A Russian content creator has shared details about her alleged climb at the Merdeka 118 building in Kuala Lumpur amid local police investigations into the authenticity of a viral video. At some point, Nikolau claimed that she was “detected” and hid in a small concrete box for more than 20 hours. Reports about a duo claiming to have scaled Merdeka 118 first emerged last week after photos and videos from the incident went viral on social media. In a statement on Dec 29, PNB Merdeka Ventures Sdn Bhd said legal action will be taken against anyone found trepassing into Merdeka 118 as the building is still a live construction site. Police said they are working with the Malaysian Communications and Multimedia Commission (MCMC) to investigate the authenticity of the video.
Source:The Star
January 05, 2023 08:39 UTC
Proposal to abolish pensions of Cabinet members unreasonable, says PM
PUTRAJAYA: The proposal to abolish or reduce the pensions of Cabinet members is unreasonable because matters related to pensions are enshrined in the Federal Constitution, says Prime Minister Datuk Seri Anwar Ibrahim (pic). Former Kangar MP Noor Amin Ahmad was reported saying that the government could save RM100mil to RM150mil in expenses every year if the pensions of former Cabinet members were abolished. According to Noor Amin, based on the country's current system and the number of former Cabinet members eligible to receive pensions, the cost incurred for ministers, deputy ministers and parliament secretaries was between RM100mil and RM150mil per year. Anwar, who is Finance Minister, said that the cost-saving measure implemented for now was the cancellation of vehicle provision for former ministers. "So far, that is better (because) it involves administrative matters and does not involve the Constitution," he said.- Bernama
Source:The Star
January 04, 2023 23:57 UTC
Plumber loses over RM100,000 to investment scam in Sibu
SIBU: A plumber's hope of getting big returns from an investment ended with him losing RM106,300 to an investment scam. Sibu OCPD Asst Comm Zulkipli Suhaili said the 50-year-old victim was cheated by a syndicate who promised him a return of 50% from the investment. "Believing that it was a genuine investment scheme, the victim made 28 bank transfers from Dec 19, 2021 to July 4, 2022 totalling RM106,300 to 10 bank accounts provided by the syndicate. ACP Zulkipli advised people to be careful of any investment advertised on social media. "As a precautionary measure, people are advised to check first before making any investment online to avoid being a scam victim.
Source:The Star
January 04, 2023 14:54 UTC
Petra Energy secures 22-month extension for Banang oilfield technical services job from Petronas
KUALA LUMPUR (Jan 3): Petra Energy Bhd's contract for the provision of services to operate and maintain Petroliam Nasional Bhd's (Petronas) Banang oilfield off Terengganu has been extended by 22 months until Aug 6, 2024. In a filing with Bursa Malaysia, Petra Energy said its wholly-owned subsidiary Petra Energy Development Sdn Bhd (PEDSB) has entered into a supplementary agreement with Petronas relating to the technical services agreement first awarded in June 2020 for a duration of two years. Petra Energy did not disclose the value of the supplementary agreement. “The contract is expected to contribute positively to the earnings and net assets per share of the group for the duration of the contract,” it added. Shares in Petra Energy closed one sen or 1.16% higher at 87 sen, giving the group a market capitalisation of RM279.92 million.
Source:The Edge Markets
January 04, 2023 01:16 UTC
SunCon bags RM1.7b data centre construction job
KUALA LUMPUR (Jan 3): Sunway Construction Group Bhd (SunCon) has entered into a RM1.7 billion contract to provide general contractor services for a data centre construction project in Sedenak Tech Park (STeP), Johor. The construction firm’s wholly owned subsidiary Sunway Construction Sdn Bhd entered into the contract with Yellowwood Properties Sdn Bhd on Dec 31, 2022, according to SunCon’s filing on the same day. “The works are expected to be completed by the third quarter of 2024 (3Q2024),” SunCon said. “The total new projects secured by the group this year (2022) including the abovementioned works amounted to RM2.6 billion,” SunCon added. Shares in SunCon ended three sen or 1.92% higher at RM1.59, giving the construction group a market capitalisation of RM2.06 billion.
Source:The Edge Markets
January 04, 2023 01:07 UTC
UK's Prince Harry: I want my father and brother back
LONDON (Jan 2): Britain's Prince Harry said his troubled relationship with the royal family "never needed to be this way" and he wants to get his father King Charles and his brother "back", in an excerpt from an interview with broadcaster ITV released on Monday. "It never needed to be this way," he said in the clip. "I would like to get my father back; I would like to have my brother back." They have since criticised how they were treated as members of the royal family, including an accusation by Harry that his brother William, Prince of Wales, screamed at him during a meeting to discuss his future. ITV said the interview will be broadcast on Jan 8, two days before publication of Harry's autobiography titled "Spare".
Source:The Edge Markets
January 02, 2023 22:10 UTC
Russia says 63 soldiers killed by Ukrainian strike in Donetsk region
(Jan 2): Russia's Defence Ministry said on Monday that 63 Russian soldiers had been killed in a Ukrainian New Year's Eve attack on their quarters in the Russian-controlled part of Ukraine's Donetsk province. Earlier, Ukraine's defence ministry said as many as 400 Russians had been killed. AmmunitionRybar said there had been about 600 people in the building, and that ammunition had been stored in the same facility. Russia's Defence Ministry gave its estimate of the death toll only in the final paragraph of a 528-word daily battlefield roundup. Girkin, who has bitterly criticised Russia's military failures in Ukraine, also said ammunition had been stored at the facility.
Source:The Edge Markets
January 02, 2023 20:58 UTC
The Pitch Deck: Reawakening an Asian tiger
Anwar faces a significant challenge because Malaysia has not only lost its Asian Tiger status but has also fallen far behind its neighbours such as Indonesia and Vietnam. Despite moving from an agrarian economy in the 1970s to a manufacturing economy today, we are still largely a low-technology manufacturing economy and also a resource-dependent economy — primarily oil, gas and palm oil. Our economy is still dependent on low-level manufacturing, palm oil, oil and gas, the same as it was 30 years ago. The carrot and stick approachWe need to reward businesses that adopt technology and penalise those that do not. We will not recapture the mantle of an Asian Tiger but will instead be nothing more than an Asian kitten.
Source:The Edge Markets
January 02, 2023 07:15 UTC
Global Times: COVID infection peak in mega cities nearing end, expected to affect rural areas soon: leading Chinese research team
(Jan 1): In several of China's metropolitan cities including Beijing, Shanghai and Guangzhou, the COVID-19 infection peak is expected to end around New Year's Day, according to a latest study by a leading Chinese research team, Global Times said. The outbreaks are expected to mainly affect rural areas and small and medium-sized cities between New Year's Day and the Spring Festival, which falls on January 22, the study also showed. Since December 23, the number of patients attending fever outpatient clinics in the city began to decline, with the number of visits dropping from about 60,000 to 19,000 in a single day, reported the Yangcheng Evening News, citing data from the Guangzhou Municipal Health Commission on Sunday.
Source:The Edge Markets
January 02, 2023 02:22 UTC
Return Form Filing Programme for 2023 can now be accessed via HASiL portal
PUTRAJAYA (Jan 1): The Inland Revenue Board (IRB) Return Form (RF) Filing Programme for 2022 is now available on HASiL official portal as a reference for taxpayers to submit their return form this year. It also encouraged tax agents to use the Tax Agent e-Filing (TaeF) (https://taef.hasil.gov.my/) service to submit RF. “To save time and facilitate e-Filing submission by employees, employers are encouraged to submit 2022 employees’ remuneration data through the e-Data Praisi/e-CP8D application. “The remuneration data received will be prefilled into employees’ e-Form (e-BE/e-B/e-BT/e-M/e-MT for the Year of Assessment 2022),” the statement read. Employers can refer to the latest format of the e-Data Praisi/e-CP8D information for the 2022 remuneration year attached to the RF Filing Programme 2023 filing programme for the purpose of providing employee remuneration data, it added.
Source:The Edge Markets
January 01, 2023 17:17 UTC