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Palm oil price rally helps Kulim post best ever results in FY21
In a statement, the group said its revenue jumped by 48.56% to RM1.65 billion from RM1.11 billion a year ago, as higher average selling prices for crude palm oil and palm kernels offset lower sales volumes and yields from its plantations. Meanwhile, the group had also processed 1.42 million tonnes of FFB and 295,747 tonnes of crude palm oil (CPO). This translated into one of our best financial results to date, despite sub-optimum production and yield," said Kulim MD Mohd Faris Adli Shukery. The group said it also aims to build a robust and thriving agri-food portfolio to contribute positively to the national food security agenda. “Our ultimate objective is for Kulim to become a flagship company that can enhance the state and national food security agenda.
Source:The Edge Markets
July 31, 2022 18:42 UTC
Optimism abounds as Selangor BN convention starts
He said despite losing the previous general election, Selangor Barisan will never surrender. ALSO READ: Selangor BN convention kicks off, with focus on recapturing Selangor"Strength does not come solely in physical form – but in spirit that will never to give up. ALSO READ: Selangor BN convention: We are 'tired' of being the opposition in Selangor, says Najib"There is only one mission. Prime Minister Datuk Seri Ismail Sabri Yaakob will officiate the one-day convention. Other Barisan leaders who will speak at the event are Barisan advisory panel member and former prime minister Datuk Seri Najib Razak, Barisan chairman Datuk Seri Dr Ahmad Zahid Hamidi and Selangor Barisan coordinatin committee chairman Tan Sri Noh Omar.
Source:The Star
July 31, 2022 12:06 UTC
Dr Wee urges students to carefully plan for their future
PETALING JAYA: Datuk Seri Dr Wee Ka Siong has urged students to carefully plan for their future and choose subjects that they are familiar and interested in. The MCA president paid a visit to the Yong Peng service centre in Johor and met with students who obtained excellent results for their Sijil Pelajaran Malaysia (SPM) recently. Together with Johor state executive councillor Ling Tiang Soon, who is Yong Peng assemblyman, the Transport Minister presented the students with gifts to boost their spirits. Dr Wee also advised the students not to forget the sacrifices made by their parents after they become successful. He also hopes the students will contribute back to the local community especially in Ayer Hitam and Yong Peng.
Source:The Star
July 30, 2022 20:01 UTC
My Say: Being bold is key to fostering excellence
Of all those firsts, the one for which I had to summon the greatest courage was as director-general (DG) of the Ministry of Higher Education. It was a huge responsibility, having to steer the direction of higher education, knowing that the well-being of Malaysia’s future generations was at stake. Drastic steps were taken to intervene with the implementation of the then higher education blueprint midway, something that had never been done before. You keep what is good, stick to the core values of higher education and change only what will improve the whole. With this mindset, I co-helmed the development and implementation of the new Malaysian Education Blueprint (Higher Education) 2015-2025.
Source:The Edge Markets
July 30, 2022 15:32 UTC
IHH, Prodia to strengthen medical tourism between Malaysia, Indonesia
JAKARTA (July 29): IHH Healthcare Bhd and PT Prodia Widyahusada Tbk have signed a memorandum of understanding (MOU) to provide options for comprehensive healthcare services to Prodia customers seeking medical treatment in Malaysia. IHH’s partnership with Prodia, Indonesia's largest laboratory chain, is expected to optimise the management of patients who require clinical laboratory examination services before and after consulting a doctor. Prodia president director Dewi Muliaty said the partnership is expected to make it easier for patients from Indonesia to obtain referrals for advanced laboratory examination services such as health check-ups, disease development monitoring, diagnosis, and other examination services. “We believe this collaboration can make it easier for Indonesian patients who perform integrated medical services with IHH Healthcare Malaysia to get more comprehensive clinical laboratory examination services,” she said. The council expects the arrival of Indonesian medical tourists into Malaysia to return to the pre-pandemic level by 2025.
Source:The Edge Markets
July 29, 2022 22:16 UTC
Gloom returns to China stocks with worst monthly loss in a year
With little sign that authorities are planning to go big on policy support, doubts are rising once again about whether a bottom has yet to be seen for the market. The Hang Seng China Enterprises Index of stocks slumped 2.8% on Friday, taking its July loss to over 10% — its worst monthly performance in a year. Tech and property shares led the broad sell-off after a lack of fresh stimulus at the China’s Politburo meeting left markets disappointed. The crisis in the property industry also escalated this month as more buyers revolted against mortgage payments on unfinished homes. Country Garden Holdings Co — China’s largest builder, and Alibaba are among the worst performers on the HSCEI gauge this month.
Source:The Edge Markets
July 29, 2022 22:14 UTC
More than 80,000 entrepreneurs registered with Perak SME D-Base
IPOH: About 85,000 entrepreneurs in state are registered in the Perak Entrepreneur Information System or Perak SME D-Base which qualifies them for assistance or incentives from the state government. State Rural Development, Entrepreneur Development and Cooperatives Committee chairman Datuk Zainol Fadzi Paharudin said the system also served, among others, to collect data on entrepreneurs, such as business type, entrepreneur category, product and location. "This system enables coordination of aid by the state government for entrepreneurs to be made more easily and transparently. "It (system) will be enforced for a certain period, which will be announced, for entrepreneurs to apply for assistance such as working capital and machinery," he said when met after attending the Perak Young Entrepreneur Meet-Up programme at the Perak State Development Corporation (PKNPk) Entrepreneur Development Centre here. The Perak Young Entrepreneur Meet-Up programme, organised by the State Youth Council and Pertubuhan Usahawan Kini Kinta in collaboration with the Perak State Entrepreneur Secretariat (STeP), is aimed at bridging the gap between entrepreneurs and the entrepreneur development agency, as well as the state government.
Source:The Star
July 29, 2022 10:41 UTC
Lalamove offers free personal accident insurance coverage for its delivery partners
KUALA LUMPUR: Lalamove, the leading 24/7 on-demand delivery platform, has partnered with Chubb Insurance Malaysia Bhd (Chubb) to offer free personal accident insurance coverage for all Lalamove delivery partners. This scheme will benefit 50,000 Lalamove delivery partners behind the wheels of motorcycles, cars, vans, 4 x 4 pickups and lorries in Lalamove’s coverage areas in Klang Valley, Penang, Johor, and Malacca. According to Lalamove Malaysia’s managing director, Jane Teh, this complimentary personal accident insurance coverage will provide its delivery partners with a means of financial security in the event of an adverse situation. “Our on-demand delivery services would not be possible without our delivery partners' dedication and hard work. The personal accident insurance coverage will come into effect when a Lalamove delivery partner logs into the Lalamove Driver app and accepts a delivery order.
Source:The Star
July 29, 2022 10:14 UTC
My Say: The wealth of the wealthy and the poverty of the poor
As the world is struggling with the rising cost of living, global activism against questionable distribution of income and wealth is gaining momentum. Poverty remains a problem of many nations, hence it is a priority of the Sustainable Development Goals (SDGs) to end poverty in all its forms everywhere. The number of poor households increased to 639,800 households in 2020, compared with 405,400 in 2019. Can we not call the privileged minority with excessive income and extreme wealth to help more in eradicating poverty? Apart from the emoluments, we noted a significant increase in development expenditure for health social services from RM4 billion (2020) to RM8.7 billion (2021).
Source:The Edge Markets
July 29, 2022 03:32 UTC
Abdul Hadi among 11 MPs not present during voting of anti-party hopping Bill
Fahmi, in a Facebook post, said it was believed that among those not present were Lahad Datu MP Datuk Mohamaddin Ketapi, Tambun MP Datuk Seri Ahmad Faizal Azumu, Marang MP Tan Sri Abdul Hadi Awang, Bukit Gantang MP Datuk Syed Abu Hussin Hafiz Syed Abdul Fasal, Kuala Pilah MP Datuk Eddin Syazlee Shith and Mas Gading MP Mordi Bimol. The anti-hopping Bill was passed in Parliament after it was voted in support by 209 MPs while 11 MPs were absent. The Constitutional (Amendment) Bill 2022 was tabled for the first reading during a special one-day Dewan Rakyat sitting on April 11. On Wednesday (July 27), Prime Minister Datuk Seri Ismail Sabri Yaakob tabled the Bill for the second reading. MPs who are sacked from political parties will not lose their seats.
Source:The Star
July 29, 2022 00:33 UTC
Bursa ends at an intraday high, KLCI up 1.39%
At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 20.49 points, or 1.39%, to 1,491.2 from Wednesday’s close of 1,470.71. Total turnover increased to 2.83 billion units worth RM1.81 billion from 2.19 billion units worth RM1.36 billion on Wednesday. Sector-wise, the Plantation Index strengthened 93.96 points to 6,940.26, the Financial Services Index rose 107.38 points to 16,663.4, the Industrial Products and Services Index was 5.12 points higher at 183.66, and the Energy Index edged up 21.41 points to 666.61. Main Market volume expanded to 2.06 billion shares worth RM1.59 billion against 1.56 billion shares worth RM1.19 billion on Wednesday. ACE Market volume swelled to 489.09 million shares worth RM169.77 million from 390.66 million shares worth RM125.68 million previously.
Source:The Edge Markets
July 28, 2022 21:31 UTC
Unisem 2Q net profit surges 277% to RM205.9m, declares two sen dividend
In a Bursa Malaysia filing on Thursday (July 28), Unisem said revenue for the quarter rose 15.4% to RM464.06 million from RM402.23 million a year prior. Earnings per share jumped to 12.76 sen from 3.4 sen.Unisem declared an interim dividend of two sen per share to be paid on Aug 25. For the six months ended June 30, Unisem’s net profit jumped 156.4% to RM256.55 million versus RM100.05 million on the back of a 14.5% increase in revenue to RM888.51 million against RM776.17 million previously. “The directors expect the performance of the group to be satisfactory for the next financial quarter,” it said. At the midday break on Thursday, Unisem rose 3.56% or nine sen to RM2.62 with 672,000 shares traded.
Source:The Edge Markets
July 28, 2022 17:15 UTC
Married man nabbed in hotel with woman
Compiled by BENJAMIN LEE, C. ARUNO and R. ARAVINTHANA MARRIED man was caught in a hotel room with a woman he had just met through a social media platform, Berita Harian reported. Enforcement officer Anwar Shariffudin Mat Saad said the pair was caught for committing khalwat (close proximity). > Utusan Malaysia reported that a 55-year-old man died and five others were injured in a car accident involving two vehicles near Kampung Tajin in Kuala Berang, Terengganu, on Tuesday. The victim, Mohd Ruzaini Daraman, died at the scene while his wife and grandchild suffered injuries to the face and right leg respectively. “The driver and two passengers in the other car suffered injuries on their heads and arms, but a six-year-old passenger escaped unhurt,” he added.
Source:The Star
July 28, 2022 04:39 UTC
My Say: Economic forecasts: Always late and always wrong
Economic forecasting is a highly uncertain activity that aims to identify the future direction of key variables in the economic and financial system to help make decisions on policy setting, investments and business planning. Good economic forecasting becomes particularly necessary when there is an economic shock and a degree of uncertainty such as we have seen — and are seeing — in the current scenario. Where we move closer to the target, we see that the different forecasts tend to converge progressively towards the final value. These forecasts can come from financial institutions, policy institutions, academic forecasters or government and semi-government agencies. It also may overlook the changing context in which economic and financial decisions are being made if the economic structure has changed.
Source:The Edge Markets
July 28, 2022 03:33 UTC
Bursa ends higher amid cautious regional sentiment
However, total turnover declined to 2.19 billion units worth RM1.36 billion from 2.41 billion units worth RM1.22 billion on Tuesday. Sector-wise, the Industrial Products and Services Index was 1.14 points firmer at 178.54, the Financial Services Index improved 70 points to 16,556.02, the Energy Index increased by 4.12 points to 645.2, but the Plantation Index declined 3.46 points to 6,846.3. Main Market volume fell to 1.56 billion shares worth RM1.19 billion against 1.63 billion shares worth RM1.02 billion on Tuesday. Warrants turnover shrank to 233.12 million units valued at RM49.73 million versus 369.48 million units valued at RM66.36 million on Tuesday. ACE Market volume decreased to 390.66 million shares worth RM125.68 million from 409.45 million shares worth RM135.7 million previously.
Source:The Edge Markets
July 27, 2022 15:34 UTC