KTMB could not operate Express Wau train due to
Getting Started Junior Member102 postsJoined: Jul 2006https://www.nst.com.my/news/nation/2022/07/...-rm6-mil-lossesKTMB could not operate Express Wau train due to RM6 mil lossesThe Kelantan State Assembly was today told that KTMB could not operate its Ekspress Wau service from Tumpat to Kuala Lumpur as it had suffered losses of about RM6 millionQUOTE KOTA BARU: The Kelantan State Assembly was today told that Keretapi Tanah Melayu Berhad (KTMB) could not operate its Ekspress Wau service from Tumpat to Kuala Lumpur as it had suffered losses of about RM6 million. Besides that, State Utility, Infrastructure and Works Committee chairman Datuk Azami Mohd Nor said KTMB also found that the Ekspress Wau train service was not suitable at the moment as the company has been providing other train services to the East Coast. "KTMB has several other train services that connects the East-Coast states such as the ETS train from Kuala Lumpur to Gemas that later connects to Express Timuran and Shuttle trains which uses Diesel Multiple Unit (DMU) from Gemas to Tumpat," he said. Azami was replying to an additional question from Amran Arifin (BN-Paloh) at the Kelantan State Assembly sitting here today. "At the moment, the upgrading works already started from Pasir Tumboh to Melor and will continue from Melor to Pak Badol.
Source:New Strait Times
July 19, 2022 06:39 UTC
Malaysia going bankrupt like Sri Lanka? Slim chance, says Tengku Zafrul
KUALA LUMPUR: The chances of Malaysia going bankrupt like Sri Lanka is extremely slim, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pic). "If you compare the economic indicators between Malaysia and Sri Lanka, ours is far much stronger than that of Sri Lanka. Tengku Zafrul assured the house that the government continues to be prudent and careful when managing the nation's finances and debts. Currently, he said that Malaysia's debt service ratio was at 16.3% and is expected to increase to over 18% this year. He noted that this was much higher than the debt service ratio of countries such as US, UK and Japan.
Source:The Star
July 19, 2022 06:04 UTC
Workers from 15 countries for some industries
KUALA LUMPUR: The manufacturing, construction and services industries will be allowed to hire foreign workers from 15 source countries. Foreign workers will also be allowed to be employed in the scrap items and laundry sub-sectors. “Among other things, we also agreed to allow foreign workers from all 15 source countries to work in the manufacturing, construction and services sectors. “We also agreed on looking at the appropriateness of allowing foreign workers in all sectors, including the sub-sectors that have been frozen,” said Hamzah. The ministers said the government had also agreed to consider giving foreign workers temporary access to Protected Areas and Protected Places to perform construction work.
Source:The Star
July 19, 2022 05:33 UTC
Bursa ends at intraday high on bargain hunting
Total turnover was higher at 2.4 billion units worth RM1.28 billion against 2.05 billion units valued at RM1.06 billion last Friday. Sector-wise, the Industrial Products and Services Index put on 2.98 points to 169.71, the Energy Index soared 24.22 points to 628.86, the Plantation Index added 120.2 points to 6,775.93, and the Financial Services Index was 5.93 points higher at 16,013.62. Main Market volume advanced to 1.34 billion shares worth RM1.06 billion against 1.29 billion shares worth RM916.47 million last Friday. Warrants turnover decreased to 383.78 million units valued at RM79.97 million versus 398.9 million units valued at RM75.88 million previously. ACE Market volume swelled to 678.12 million shares worth RM130.84 million from 351.41 million shares worth RM66.41 million previously.
Source:The Edge Markets
July 18, 2022 21:40 UTC
PM: Steps taken but not so easy to curb cooking oil smuggling
KUALA LUMPUR: Measures are being taken to curb cooking oil smuggling, says Prime Minister Datuk Seri Ismail Sabri Yaakob. "If a smuggler sells the cooking oil for RM5, he would make a profit of RM2.50 per packet. He, however, conceded that it was not easy to regulate the use of packet cooking oil meant for domestic use by street food vendors. Anwar also questioned why big palm oil companies which had been making lucrative profits had not been required to lower prices. Chaired by communications and multimedia minister Tan Sri Annuar Musa, the committee also comprise of Finance Minister Datuk Seri Tengku Zafrul Aziz, Agriculture and Food Industries Minister Datuk Seri Ronald Kiandee, Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi, Economic Affairs Minister Datuk Seri Mustapa Mohamed and Chief Secretary to the Government Tan Sri Zuki Ali.
Source:The Star
July 18, 2022 20:19 UTC
Analysts mixed on Digi’s target price forecast, prospects post 2Q results
KUALA LUMPUR (July 18): Analysts covering mobile telecommunications network provider Digi.Com Bhd showed mixed reactions for the latter’s target price (TP) forecast and its prospects ahead. “Its subscribers, in both the prepaid and postpaid segments, continued to grow, while blended average revenue per user remained stable. She highlighted that Digi’s revenue was within the firm’s expectations but net interest as well as tax costs were higher-than-expected. “As such, we cut our FY22-24 earnings estimates by 7% to 10%, factoring in higher interest and tax costs,” she said. “With Digi’s share price down about 22% year-to-date, much of the 5G downside risks are priced in.
Source:The Edge Markets
July 18, 2022 16:49 UTC
Bursa ends morning session higher
KUALA LUMPUR (July 18): Bursa Malaysia remained upbeat at noon, taking its cue from the global stock markets. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.62 of-a-point to 1,419.06 from Friday's close of 1,418.44. The benchmark index opened 2.45 points higher at 1,420.89. Sector-wise, the Industrial Products and Services Index was 0.95 of-a-point higher at 167.68, the Energy Index rose 13.85 points to 618.49, and the Plantation Index added 38.73 points to 6,694.46, while the Financial Services Index fell 30.67 points to 15,977.02. Meanwhile, in separate filings with Bursa Malaysia on Monday, Complete Logistics Services Bhd announced it will change its name to Hextar Technologies Solutions Bhd, and Integrated Logistics Bhd will change its name to ILB Group Bhd, effective from July 19.
Source:The Edge Markets
July 18, 2022 16:49 UTC
Minimal impact from stamp duty discount, say analysts
KUALA LUMPUR: The property market stands to benefit from the recently announced stamp duty discount for properties priced above RM500,000, but its impact on the sector could prove tepid. The government recently said it would reduce the stamp duty percentage for property valued in the RM500,000-RM1mil range to 1.5% from 3% under the Keluarga Malaysia Home Ownership Initiative (i-Miliki) campaign. To illustrate how the discount works, for a property priced at RM1mil, the first RM500,000 will be exempted from stamp duty, while the subsequent RM500,000 will be charged a stamp duty of 1.5% amounting to RM7,500. Under that earlier campaign, the stamp duty for property up to RM1mil was exempted while property valued above RM1mil was charged a 3% duty. HLIB reiterated its "neutral" recommendation on the property sector, with Sunway Bhd and Matrix Concepts Bhd as its two top sector picks.
Source:The Star
July 18, 2022 15:28 UTC
Mercury Securities starts coverage of Cnergenz, target price at 66 sen
KUALA LUMPUR (July 18): Mercury Securities Sdn Bhd has initiated coverage of Cnergenz Bhd, with a “buy” recommendation at 47 sen, with a target price of 66 sen based on earnings per share of 3.8 sen forecast for the financial year ending Dec 31, 2023 (FY23) and peers' average price-earnings of 17.3 times. “The target price represents a potential return of 40% from the current price,” it said. Mercury said Cnergenz had an order book of RM147 million as of May 31, 2022, expected to be fully recognised within the second half of 2022. “Under the leadership of chief executive officer Lye Yhin Choy, who is responsible for the overall management and business operations of Cnergenz, the company was able to achieve a three-year revenue CAGR of 9% from FY18 to FY21 (excluding customer K & H for FY18 and FY19), despite the Covid-19 pandemic in FY20,” it said. At 9.54am, Cnergenz had risen 3.16% or 1.5 sen to 49 sen, with 279,300 shares traded.
Source:The Edge Markets
July 18, 2022 08:33 UTC
Metering infrastructure provider Trilliant starts manufacturing in Malaysia
KUALA LUMPUR (July 18): US-headquartered Trilliant, a provider of solutions for advanced metering infrastructure (AMI), smart grid, smart cities and IoT, is starting its manufacturing in Malaysia. Trilliant chairman and CEO Andrew C. White said manufacturing efforts were now underway in Malaysia. “Trilliant is proud these products will say ‘Made in Malaysia,’ and we look forward to supporting the creation of additional high-tech jobs and enhancing local expertise,” he said. White said the manufacturing team will be focused on the Trilliant Communications Module (TCM) and the Trilliant Street Light Controller. White said approximately 119 tons of CO2e will be reduced over the course of the next three years in Malaysia alone.
Source:The Edge Markets
July 18, 2022 06:58 UTC
STIDC gets overwhelming trade enquiries at ASEAN-Italy dialogue
KUCHING (July 17): The Sarawak Timber Industry Development Corporation (STIDC) received an overwhelming number of trade enquiries during its participation in the recently held ASEAN-Italy Economic Relations High-Level Dialogue in Kuala Lumpur. STIDC general manager Datuk Hashim Bojet said delegates at the dialogue were keen to explore business opportunities in the wood-based and non-wood-based sectors in Sarawak during the business-to-business (B2B) meetings. “This (STIDC participation) is a strategic initiative that augured well with the (Sarawak) Forestry and Timber Industry Master Plan 2020-2030 and the state’s Post Covid-19 Development Strategy (PCDS) 2030,” he said in a statement Sunday (July 17). He said the master plan and PCDS 2030 aim to ensure Sarawak’s economic resilience and generate RM8 billion in export earnings from the wood-based sector by 2030. “Last year, 75 manufacturing projects worth US$363.8 million with Italian participation were implemented across Malaysia, creating 4,320 jobs for the locals,” he added.
Source:The Edge Markets
July 17, 2022 21:21 UTC
Everyday Matters: The intoxicating allure of power
There has been no dearth of high-octane examples of the dark and insidious relationship between authority, power and corruption. For us business leaders, there is a deep need to better understand how power sometimes corrupts and how to avoid it. The proverb, “Absolute power corrupts absolutely”, is supposed to mean that whenever a person has power over other people or things, it makes him or her corrupt. The original statements go thus: “Power tends to corrupt, and absolute power corrupts absolutely. He was stated to have said in parliament that “Unlimited power is apt to corrupt the minds of those who possess it”, which is closest to the phrase, “absolute power corrupts absolutely”.
Source:The Edge Markets
July 17, 2022 18:42 UTC
Opposition parties at odds
IS the honeymoon between DAP and Parti Warisan officially over? The romance began when Datuk Seri Shafie Apdal formed Parti Warisan in October 2016 after quitting Umno a few months earlier. DAP’s Likas assemblyman Datuk Junz Wong joined Warisan as a vice-president – but DAP ignored the little hiccup and established an alliance with the Sabah-based party.
Source:The Star
July 17, 2022 11:27 UTC
Updated MySejahtera enables users to monitor health status, Khairy says
KUALA LUMPUR (July 16): The new look MySejahtera application now comes with new features by providing the latest information on users' health status. Health Minister Khairy Jamaluddin in a tweet said the new features are seen as assisting users in monitoring and obtaining more details on their health status. The MySejahtera application can be updated now via Google Playstore for android users and Apple App Store (IOS users). Meanwhile, the Health Ministry (MOH) in a statement on Saturday announced that the screening records of users under the National Health Screening Initiative at government clinics would be displayed. Read also:Child immunisation records, health screening now featured on MySejahtera — Khairy
Source:The Edge Markets
July 16, 2022 22:55 UTC
Covid-19 Watch: 5,230 new cases bring total to 4,613,998
PETALING JAYA: Malaysia recorded 5,230 new Covid-19 cases on Friday (July 15), says the Health Ministry. According to the ministry's CovidNow portal, 5,219 of the new Covid-19 infections in the country were local transmissions, while there were 11 imported cases. This brings the total number of Covid-19 infections in the country to 4,613,998 cases since the pandemic began. A total of 8 deaths were recorded on Friday with 1 classified as being brought in dead, bringing the total to 35,844.
Source:The Star
July 16, 2022 14:21 UTC