KUALA LUMPUR: Investigations into the case of a senior doctor alleged to have sexually harassed female housemen in his hospital will be completed next week, says Women, Family and Community Development Deputy Minister Hannah Yeoh. She said the independent body looking into the case had launched a two-week investigation and would conclude their findings soon. As there is no Sexual Harassment Act in place yet, she said, the case needed to be investigated under the Penal Code and according to the 2005 civil service guidelines relating to sexual harassment in the workplace. Ramkarpal said tighter legislation was needed for a long-term solution to sexual harassment, which could be in the form of verbal sexual harassment as well. His motion to debate the issue was rejected by the Parliament Speaker Datuk Mohamad Ariff Md Yusof on Wednesday (Aug 15).
August 16, 2018 09:56 UTC
KUALA LUMPUR: The Anti-Fake News Act, which was passed about five months ago, has been repealed with a simple voice vote. Deputy Minister in the Prime Minister's Department Mohamed Hanipa Maidin in his winding-up speech said there were sufficient laws to deal with fake news. Only 12 lawmakers debated Anti-Fake News (Repeal) Bill 2018 for about three hours on Thursday to repeal the contentious law. It passed by a simple voice vote. The Anti-Fake News Act was passed by the Dewan Rakyat on April 2 this year following two days of fierce debates.
August 16, 2018 09:45 UTC
(Reuters) - Arsenal defender Sead Kolasinac and midfielder Ainsley Maitland-Niles have been ruled out until October with injuries, the Premier League club has said. Kolasinac, 25, sustained a left knee injury in a pre-season match against Chelsea earlier this month while Maitland-Niles was substituted off in the first half of Arsenal's 2-0 defeat by champions Manchester City in their opening league fixture. "Sead has a left knee injury. We are aiming for him to return to training in October," Arsenal said on their website. Arsenal have been boosted with striker Danny Welbeck and defender Nacho Monreal participating in full training ahead of Saturday's league match against Chelsea.
August 16, 2018 09:45 UTC
KUALA LUMPUR: Flexible packaging manufacturer Daibochi Bhd saw its revenue for the second quarter ended June 30, 2018, hit a record high of RM106.4mil, growing 22.5% from a year ago.The group attributed the record quarterly performance to its Malaysia plant seeing increased shipments to MNC customers in the domestic market and export markets.“This was further enhanced by new contributions from the Myanmar plant which commenced operations on July 1, 2017,” the group said in a statement.The Myanmar plant recorded revenue of RM7.9mil during the quarter, making up 7.4% of group revenue.The group’s net profit for the period, however, slipped 7.8% to RM4.7mil on the back of foreign currency exchange losses of RM2.2mil, largely due to USD-denominated transactions and a term loan used to finance its investment in Daibochi Myanmar.For the six-month period ended June 30, 2018, group revenue rose 16.7% to RM211.1mil, while profit before tax increased 5.2% to RM14.8mil.Daibochi MD Thomas Lim said the group intended to continue stamping a firmer mark in export markets, as well as support the expanding requirements of MNCs.“Additionally, we anticipate our Myanmar plant to achieve stronger performance in the fourth quarter of 2018 onwards, with quarterly revenue expected to rise more than 30% to exceed RM10mil, driven by order fulfilment and potential new contracts,” he said.
August 16, 2018 09:33 UTC
ISKANDAR PUTERI: The state government will conduct an in-depth study to develop the concept of a creative economy under the Johor Creative Economy Action Plan. Johor Entrepreneur Development, Cooperative, Creative Economy and Information Committee chairman Sheikh Umar Ali said the study would not be a copy-and-paste exercise of existing plans. A creative economy is one that brings together artists, cultural nonprofits, and creative businesses to produce and distribute cultural goods and services that bring about jobs, revenue, and quality of life. Sheikh Umar said the study was vital not only in identifying what creative economy was but also the players, community and related institutions. The state government, he said, would consider involving several reputable universities and public policies research institutions to prepare the structures for the Johor Creative Economy Action Plan.
August 16, 2018 08:15 UTC
KUALA LUMPUR: Hock Seng Lee Bhd posted a net profit of RM14.12mil in Q2 ended June 30, 2018, a 44% improvement over RM9.78mil recorded in the previous corresponding quarter as revenue surged 103% to RM154.25mil.According to the group, the improved performance was due to higher construction activities carried out during the quarter. "Accelerated execution of its mega-projects, as they entered mid-phases of construction, had led to improvement across all financial measures," it said in a press statement.The board of directors has declared a first interim dividend of one sen per share payable on Oct 10, 2018.For the quarter under review, revenue for the group's construction segment more than doubled to RM138.69mil from RM59.15 mil a year earlier. Net profit before tax jumped to RM13.33mil from RM7.26 in the year-ago quarter.The property segment was flattish with a slightly lower revenue of RM15.56mil versus RM16.75mil in 2QFY17 and a similarly lower net profit before tax of RM5.52mil from RM5.86mil.Hock Seng Lee had recently announced the procurement of a new project worth RM101.19mil involving the construction of Maktab Rendah Sains Mara in Bintulu, Sarawak. "“Our successful bid for the MRSM Bintulu contract reinforces that the construction industry in Sarawak is robust and that HSL remains firmly at the forefront of it. "This new project has tipped the value of projects in hand over the RM3 billion mark to RM3.1 billion, of which some RM2.5 billion is unbilled,” said group managing director Datuk Paul Yu Chee Hoe.
August 16, 2018 08:03 UTC
PETALING JAYA: Public Bank Bhd , which saw its net profit surge by 4.8% to RM1.40bil in the second quarter ended June 30 2018 (Q2 18), may face some pressure in net interest margin (NIM) for its full-year due to intense fixed deposit competition.UOB Kay Hian on Thursday said first half NIM remained relatively stable at 2.28% while as expected, Q2 18 NIM normalised downwards by 9 basis points (bps) as the lag effect of deposit re-pricing post the interest rate hike kicked in.Intensifying fixed deposit competition is expected to result in a marginal compression in the bank’s full-year 2018 NIM, the research house noted.“We have trimmed our earnings forecasts for 2018/19/20 marginally by 1-2% to conservatively factor in higher funding costs from a rising deposit competition impact on NIM. As such, we are now forecasting a 1-2bps compression in NIM for 2018-20 versus our initial projection of a 2bps expansion. However, this is partly offset by the lower than expected net credit costs,’’ the research house added.Some analysts recently contacted by StarBiz foresee non-interest income and NIMs of banks could take a further hit, resulting in lower earnings for banks in the second half of the year. This is expected to happen amid a softer capital market and stronger competition for deposits, resulting in a margin squeeze.They also expect competition for fixed deposits to flare up moving closer towards the implementation of the net stable funding ratio (NSFR).The upcoming Basel III NSFR is to be implemented no earlier than Jan 1, 2019. The NSFR measures a bank’s funding stability over a one-year period and complements the liquidity coverage ratio requirement, which measures liquidity over a 30-day horizon.With Bank Negara maintaining its overnight policy rate (OPR) at 3.25% and stronger competition in fixed deposits in the subsequent quarters, NIM is expected to remain compressed, hence putting pressure on banks’ margins.UOB Kay Hian, which is maintaining a buy on the stock with a higher target price of RM26.45, said Public Bank has one of the most defensive earnings profiles in the sector that would place it in a stronger position to ride out a potentially more volatile earnings environment, especially with regard to external uncertainties.Management, it adds expects policy uncertainty from the recent general election (GE14) could persist into the second half of the year, resulting in a relatively modest overall industry loans growth trends similar to that in the first half.However, given that the group is focused on its mass market consumer and SME portfolios, continued wage and employment growth should result in lower growth and earnings volatility for the group, the brokerage said.“That said, management is mindful that key downside risk could come in the form of escalating global trade tensions impacting investments and hence SME working capital growth, and ongoing monetary policy normalisation in advanced economies may lead to sharper than expected financial market adjustments in emerging markets that may impact its treasury performance.“However, we note that overall treasury revenue as a percentage of non-interest income is relatively low for the group versus its peers,’’ it said.
August 16, 2018 07:52 UTC
KUALA LUMPUR: Court of Appeal judge Justice Datuk Hamid Sultan Abu Backer (pic) revealed how he was reprimanded by a top judge for his dissenting judgment in the M. Indira Gandhi unilateral conversion case. In an open forum, Justice Hamid Sultan said he was proud of his judgment and considered it his “greatest gift” to the Malaysian public. Justice Hamid Sultan was taking part in a forum entitled "Judiciary as The Principal Guardians of The Rule of Law”. The appellate court judge also said the senior judge acted in an uncivilised manner at him by throwing tantrums. After the incident, Justice Hamid Sultan said his relationship with the top judge and many others were strained.
August 16, 2018 07:26 UTC
(Reuters) - Fulham striker Aleksandar Mitrovic is confident he can prove himself in the Premier League and emulate his goal-scoring form from the Championship last season. "I know it is going to be hard," Mitrovic told The Telegraph. "It is a better league with much more quality. But I know I have the ability, I have the quality. "I want to show everybody that I can play in the best league in the world and score goals.
August 16, 2018 07:07 UTC
KUALA LUMPUR: Property developer Matrix Concepts Holdings Bhd is targeting RM1.6bil worth of new property launches in FY19 on the back of resilient demand from homebuyers.It said the new launches would be situated mainly in its township developments, namely Bandar Sri Sendayan (BSS) in Negeri Sembilan and Bandar Seri Impian (BSI) in Johor.The Group will also be launching its first high-rise serviced apartment in Kuala Lumpur - Chambers Kuala Lumpur - in the second half of 2018.“Looking ahead, we are well-positioned to make the next big leap in our development profile with the upcoming launch of Chambers Kuala Lumpur, our first in the city centre,” the group’s chairman Datuk Mohamad Haslah Mohamad Amin said in a statement.In FY18, Matrix Concepts achieved record revenue and net profit of RM818.5mil and RM213.3mil respectively, its best performance since listing in 2012.As at March 31, 2018, the Group had RM2.6bil in ongoing developments, while unbilled sales climbed to RM1.1bil.“We are positive on demand for homes in Bandar Sri Sendayan, especially with the growing number of Klang Valley buyers for our launches.“This is attributed to the township’s vast appeal in terms of affordability, pricing, and locality, which are highly important qualities to a successful development,” he added.
August 16, 2018 07:07 UTC
KUALA LUMPUR: Datuk Bung Moktar Radin (pic) does not care for Puncak Borneo MP Willie Mongin’s challenge to fight it out in the ring. Bung was responding to a tweet from Mongin, who had asked him to name a time and place for a showdown. On Tuesday (Aug 7), Bung had an altercation with Mongin in the Dewan Rakyat when Mongin had asked if Bung had visited a casino. On Mongin’s challenge, Bung said he was willing to even prepare a boxing ring and find a boxer for Mongin if that was what he wanted. Related stories:Gym owner offers feuding MPs Bung and Mongin fight venuePuncak Borneo MP 'accepts challenge' to fight BungTi slams Bung over use of foul language
August 08, 2018 10:30 UTC
PORT KLANG: The crew of the Equanimity is pleased to bring the superyacht back to Malaysia, says its captain. Oystein Senneseth, who is from Bergen, Norway said that the crew was relaxed now compared to before when there were armed policemen on board. There are 18 multinational crew members who have been working on the superyacht for just three weeks now. The Equanimity, which allegedly belongs to fugitive businessman Low Taek Jho, also known as Jho Low, docked at the Centre at 1pm on Tuesday (Aug 7) accompanied by four Marine Police patrol boats. In July, Indonesian police seized the yacht again following a formal request for legal assistance from the United States.
August 08, 2018 10:18 UTC
Samsung’s upcoming flagship smartphone, the Galaxy Note 9, is expected to be launched locally on Aug 15. The biggest clue is the colour of the invite – blue and yellow – which is expected to be the colour of the smartphone and S Pen stylus. The Galaxy Note 9 will first be unveiled to the world in New York tomorrow (Aug 9, at about 11pm Malaysian time). Speaking of battery, the Galaxy Note 9 is rumoured to come with a much bigger battery – industry veteran Eldar Murtazin wrote on Mobile-Review that the Note 9 will have a 4,000mAh battery, which makes it one of the biggest on a Samsung phone. Samsung is also expected to release Note 9 in a number of storage sizes and with a microSD slot that supports memory cards up to 512GB, according to Forbes.
August 08, 2018 10:07 UTC
It stressed that government and industry-funded IT support programs for teachers must prioritise changing the gender balance in computing. What interests Zhang the most is the process itself of using technology and being able to change somebody’s life little by little. Needless to say, having faith in using technology to change the world and using imagination to guide somebody’s life in a positive direction have nothing to do with gender. But excellence in computer technology is not only for the young. "By looking at the needs that exist in our daily lives, we can see problems that can be solved using computer programming," she says.
August 08, 2018 09:00 UTC
KUALA LUMPUR: Former defence minister Datuk Seri Hishammuddin Hussein is waiting for his successor Mohamad Sabu's "honeymoon period" to be over, before he starts airing his views on the current minister's administration. "I purposely did not say anything this (Parliament) meeting because I wanted to give him some time to learn and see what is going on in the ministry. Hishammuddin said as Pakatan Harapan's 100 days in government were almost over, they should start to actually govern the country, particularly the Defence Ministry, as it involved national security and defensive measures. On his cousin Datuk Seri Najib Tun Razak's trial, Hishammuddin expressed hope that Najib will be given his day in court and that a fair trial will be conducted. I just hope the process is fair, that he has a fair trial and say in the proceedings," he said.
August 08, 2018 07:52 UTC