Stable retail recovery forecast for CapitaLand
PETALING JAYA: Capitaland Malaysia Trust (CLMT), whose properties include Gurney Plaza, The Mines and 3 Damansara shopping malls, is seeing a stable recovery in the retail segment. The tenant sales per sq ft in CLMT’s malls have exceeded the 2019 average by 5.3%, which TA Research described as “encouraging”. This is despite the fact that shopper traffic in CLMT’s malls was 19% below the 2019 average. According to TA Research, CLMT is actively seeking yield-accretive investment opportunities in existing and new asset classes in pursuit of inorganic growth. The biggest gainer in occupancy rate was the 3 Damansara mall due to the entry of a new supermarket anchor tenant, with an occupancy rate of 74.3% as at September 2022.
Source:The Star
October 31, 2022 13:07 UTC
Workers leave world's biggest iPhone plant to escape Covid-19 curbs
(Oct 30): Workers are departing Apple Inc's biggest iPhone plant in China, seeking to escape hastily enacted Covid-19 measures that left many of the 200,000 staff grappling with inadequate living conditions. Tensions at the Zhengzhou plant underscore the economic and social costs of Xi Jinping’s Covid Zero policy, a rigorously policed system of mass testing and quarantine lockdowns that has fostered growing resentment. The company hires many temporary workers from nearby regions to assemble electronics including Apple Inc's latest iPhone 14 devices. Over the past few days, photos and video clips flooded social media sites such as Douyin and Weibo, purportedly taken by Foxconn workers dissatisfied with conditions at the plant. Foxconn said on Wednesday it was assisting a "small number of employees affected by Covid-19" at its Zhengzhou facility.
Source:The Edge Markets
October 31, 2022 03:08 UTC
Malaysia’s RHB aims to launch digital bank in 2023, CEO says
(Oct 31): RHB Bank Bhd plans to introduce its digital banking platform as early as the second half of next year, its top executive said, as Malaysia’s fifth biggest lender looks to hold back a tide of fintech startups. Boost and RHB were among five groups that won digital bank licenses from Bank Negara Malaysia, the country’s central bank, in April. Asked why the digital bank will have such a long gestation period, Rashid said, “We are building the digital bank from scratch. Through the digital bank, RHB hopes to expand its business to include the “unserved and underserved community” by providing financing as well as a host of banking services. In Singapore, RHB plans to expand its corporate and wealth management business while in Indonesia, it will focus on capital market activities and to be in the top 10 stockbroking firms there by 2024, Rashid said.
Source:The Edge Markets
October 30, 2022 23:00 UTC
Pearly-Thinaah stun two-time world champions to win French Open title
PETALING JAYA: Pearly Tan-M. Thinaah captured the French Open title after stunning Japan's two-time world champions Mayu Matsumoto-Wakana Nagahara 21-19, 18-21, 21-15 in a pulsating final in Paris on Sunday (Oct 30). The Malaysians created history by becoming the first women's doubles pair in the country to win the title in France. It was also Pearly-Thinaah's biggest title win in their career and second in World Tour competitions after lifting the Swiss Open in March last year. The Malaysians were on top of their game throughout the tournament, claiming big wins over Indonesia's Apriyani Rahayu-Siti Fadia Ramadhanti (first round) and another Japanese pair, world No. "It was Pearly-Thinaah's first World Tour final of the year but mentally they were very strong.
Source:The Star
October 30, 2022 18:15 UTC
Politics of anger no longer holds sway
Stoking voters’ rage is not a practical political tactic nowadays, at least in two Pahang seats the columnist explored. DURING a recent “political tourism” road trip from Kuala Lumpur to Bera, Pahang, I noticed a difference in the “noise” coming from Chinese voters compared with what I heard leading up to the 14th General Election (GE14) in 2018.
Source:The Star
October 30, 2022 03:15 UTC
HUBLine wins RM22mil contract to provide helicopter services for GE15
KUALA LUMPUR: Hubline Bhd has secured a contract worth RM22.05mil from the Election Commission (EC) to provide helicopters services in Sabah for the 15th General Election (GE15). In a filing with Bursa Malaysia, HUBLine said its subsidiary, Layang Layang Aerospace Sdn Bhd (LLA) had been awarded the contract by the EC. Under the contract, LLA will provide helicopters inclusive of the aviation operations supplies and equipment; flight operation planning and preparation; implementation of flight schedules and operations; and planning and implementation of emergency response. The contract is for a period of six months. “The contract will have no effect on the issued share capital of the company and is expected to contribute positively towards the earnings of HUBLine Group for the financial year ending Sept 30, 2023,” HUBLine said.
Source:The Star
October 29, 2022 10:26 UTC
QuickCheck: Did a UK Royal Navy officer named Manley Power lead a fight against a Japanese cruiser off Penang?
OVER the years, it has been occasionally stated online that the fight to sink the Imperial Japanese Navy cruiser Haguro on May 16, 1945 - also known as the Battle of the Malacca Strait - was led by a captain of the United Kingdom's Royal Navy named Manley Power. Is this true? VERDICT:TRUEYes, your eyes are not deceiving you; the fight that sank the cruiser Haguro and damaged the destroyer Kamikaze was in fact led by then Captain, later Admiral, Manley Power, who was leading the 26th Destroyer Flotilla as captain of the Royal Navy ship HMS Saumarez. The other four ships in the flotilla were HMS Verulam, Venus, Vigilant, and Virago. However, the Kamikaze was able to escape the ambush despite sustaining damage by heading towards Penang and returning the next day to rescue approximately 300 survivors of the battle.
Source:The Star
October 29, 2022 04:34 UTC
Unisem 3Q net profit jumps 53% to RM61.7mil
KUALA LUMPUR: Unisem (M) Bhd , which posted a 53.3% jump in net profit to RM61.73mil in the third quarter ended Sept 30, expects its performance to be satisfactory in the next financial quarter. “The directors expect the performance of the group to be satisfactory for the next financial quarter,” Unisem said in the notes accompanying its financial results. Unisem’s directors have approved a second interim dividend of 2.0 sen per share tax-exempt for the current financial quarter ended Sept 30. For the nine months to Sept 30, Unisem recorded revenue and net profit from continuing operations of RM1.3bil and RM177.98mil respectively, representing an improvement of 16.3% and 26.2% respectively against the corresponding 9-month period ended Sept 30, 2021. “The improvement in revenue and net profit was attributable to better average selling prices coupled with the appreciation of USD/MYR and USD/RMB exchange rates,” it said.
Source:The Star
October 28, 2022 03:07 UTC
Woman pleads to get her son back from Manila
IPOH: Seamstress Vong Foong Thai is pleading for help to get her son, who has been forced to be a scammer in Manila, home. Vong, 61, said her 28-year-old son Choong Chin Yee was tricked into working as a scammer in Manila since November last year. “He managed to escape from a heavily-guarded compound on Tuesday where he and hundreds of other people were being held. “He told me that he had tried to seek help at the Malaysian Embassy there but was turned away. Low said he would write to the Malaysian Embassy in Philippines about Choong’s predicament.
Source:The Star
October 28, 2022 02:44 UTC
Trading in Damansara Holdings to be halted on Friday pending material announcement
KUALA LUMPUR (Oct 27): Trading in the shares of Damansara Holdings Bhd will be halted on Friday (Oct 28), pending the release of a material announcement. The one-day suspension in trading is at the company’s request, Damansara Holdings said in a filing. The group is involved in property and land development, integrated facilities management, and project management and consultancy services. For the financial year ended June 30, 2022, Damansara Holdings posted a net loss of RM16.13 million on revenue of RM169.68 million. Shares of Damansara Holdings finished six sen or 12% lower at 44 sen, giving the company a market capitalisation of RM143.78 million.
Source:The Edge Markets
October 27, 2022 20:57 UTC
KNM unit slapped with a winding-up petition over RM40 mil dispute
KUALA LUMPUR (Oct 27): A unit of KNM Group Bhd, which carries RM1.6 billion in total cost of investment, has been slapped with a winding-up petition from a vendor over the failure to pay a settlement sum of US$8.5 million (RM40.08 million). In a filing on Thursday (Oct 27), the process equipment manufacturer said its wholly-owned subsidiary KNM Process Systems Sdn Bhd (KNMPS) had on Wednesday (Oct 26) been served a winding-up petition from United Arab Emirates-based IPL Middle East DMCC. “KNMPS was unable to pay the settlement sum according to the payment plan, and consequently the petitioner (IPL Middle East) initiated this petition to wind up KNMPS,” KNM said. KNM noted that the unit is not a major subsidiary of the company under the Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Bhd. KNM said the winding-up petition is fixed for case management on Thursday, and for hearing on Jan 19, 2023.
Source:The Edge Markets
October 27, 2022 20:43 UTC
Kenanga Research starts coverage of LGMS, target price at RM1.50
KUALA LUMPUR (Oct 27): Kenanga Research has initiated coverage of cybersecurity penetration testing company LGMS Bhd with an "outperform" rating at RM1.18 and target price (TP) of RM1.50. In a note on Thursday (Oct 27), the research house said LGMS thrives in both economic boom and down cycle. It said that for instance, the 2008 economic downturn resulted in cybercrime hitting a record high in the US while an economic boom is expected to drive the adoption of digitalisation and in turn increase demand for cybersecurity. “With the IPO proceeds, the group will expand its talent size, regional presence and launch its new blockbuster product (Project Mercury). “We initiate coverage with an 'outperform' call and a TP of RM1.50,” it said.
Source:The Edge Markets
October 27, 2022 12:39 UTC
All six onboard ill-fated heli found safe
A Pahang and Fire Rescue Department spokesman said the pilot of the private helicopter, only known as “Capt Pedro”, escaped injury. The spokesman said that following a search and rescue (SAR), the victims were found safe at 3.51pm. “The victims have been given early treatment,” said the spokesman, adding that one of them suffered a broken leg. The aircraft was operated by Layang Layang Aerospace Sdn Bhd. Voo said further investigations will be handled by the Transport Ministry’s Air Accident Investigation Bureau.
Source:The Edge Markets
October 27, 2022 06:41 UTC
My Say: Measures to mitigate the flood hazard during the general election
The floods of December 2021, in which 54 people died, hold the record for the highest death toll in the history of floods in Malaysia. Subsequently, the Election Commission has announced that polling will be held on Nov 19, confirming that the 15th general election (GE15) will be held during this monsoon season. WMO further outlined that, of the top 10 disasters, the hazards that led to the largest human losses during the period have been droughts (650,000 deaths), storms (577,232 deaths), floods (58,700 deaths) and extreme temperature (55,736 deaths). We read in the news of a father and son who were drowned while wading through flood waters and that a motorist had drowned when fast flood water had overturned his vehicle. Therefore, we appeal to the interim government and the chief secretary to the government to allocate sufficient and capable manpower and experts to organise and support disaster management efforts.
Source:The Edge Markets
October 27, 2022 03:33 UTC
Jail for man who posed as gynaecologist to get intimate photos, videos of women
SINGAPORE (The Straits Times/Asia News Network): A man duped 35 women into sending him intimate photos and videos of their bodies by pretending to be a female gynaecologist from a private hospital. The court heard that in late 2016, Ooi created a Facebook profile styling himself as “Dr Janice Lee Yan Hooi” from “Gleneagles Medical Singapore”. He said the medical plan was approved by “Gleneagles Medical Centre”. Ooi claimed the videos would enable him to diagnose any health issues, so he could provide them with a treatment plan. Between 2018 and 2021, his 35 victims sent a total of 919 photos and videos to Ooi.
Source:The Star
October 26, 2022 20:11 UTC