Investing in a time of war and decades-high inflation, as recession fears mount
The biggest challenge for long-term investors is how to keep ahead of inflation, with sharply rising prices having become a global problem. The China market (MSCI China) is currently trading at historical lows, with a price-earnings ratio (PER) of 10 times. The long-term growth potential of the country remains intact. As long-term investors, we decided to stay put with our strategy — which is forgoing short-term opportunities for long-term growth — instead of employing short-term tactical plays. That enabled PAXJ to avoid the worst of the decline in China stocks.
Source:The Edge Markets
May 16, 2022 18:10 UTC
Adopting a plant-based diet has multiple benefits
Whole-food, plant-based diets are based on the following principles:Plant-based food is food that comes from plants and is free of meat, milk, eggs or honey. Whole-food, plant-based diets and vegan diets overlap, but there are also some key differences. The benefits of moving to plant-based nutrition include:> Easier weight managementThose who consume a plant-based diet are typically leaner than those who don’t, and it is easy to lose weight and keep it off on this diet without counting calories. According to a 2020 review, participants assigned to plant-based diets lost weight in 19 intervention studies that evaluated diets over a specified period of time. Plant-based diets don’t require tracking protein intake or using protein supplements; if you meet your daily calorie requirements, you will get plenty of protein.
Source:The Star
May 16, 2022 15:41 UTC
Amendment doesn’t affect GE15 date, says PM
He explained that the amendment was an internal party matter while the date of the general election would be determined by the government based on the decision of the Cabinet. Asked if the next general election would be held this year, the Prime Minister replied: “We should wait first. If I tell you earlier, you will know it much earlier already.”Earlier, Umno unanimously passed the amendment to the party constitution to postpone party elections to after the general election. Ismail Sabri, who is also Umno vice-president, said the passing of the amendment to the party constitution would not affect the date of the GE15 as it involved two separate matters. Asked if Umno was prepared to face an election, Ismail Sabri said Umno had been prepared for “a very long time”.
Source:The Star
May 16, 2022 08:44 UTC
Some didn’t want to be rescued at all
“Some of them actually do not want to be rescued. Among those we had rescued in the most recent raid were a few Malaysians who wanted to return to these illegal syndicates,” Eldeen Husaini said. “We can confirm that there have been at least five cases of rescued ‘victims’ who made their way back to Cambodia. The recent news of 16 Malaysians, who were believed to have been tasered and beaten by illegal syndicates, being rescued and flown back to Malaysia from Cambodia made headlines in the country. With such cases being prominently highlighted, Eldeen Husaini admitted that it will be much harder to launch rescue efforts.
Source:The Star
May 16, 2022 08:35 UTC
Elon Musk says Twitter legal team told him he violated NDA
BENGALURU (May 14): Elon Musk on Saturday tweeted that Twitter Inc's legal team had accused him of violating a non-disclosure agreement (NDA) by revealing that the sample size for the social media platform's checks on automated users was 100. "Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!" tweeted Musk, chief executive of electric-car maker Tesla Inc.Musk on Friday tweeted that his US$44 billion cash deal to take the company private was "temporarily on hold" while he awaited data on the proportion of its fake accounts. He said his team would test "a random sample of 100 followers" on Twitter to identify the bots. When a user asked Musk to "elaborate on process of filtering bot accounts", he replied, "I picked 100 as the sample size number, because that is what Twitter uses to calculate <5% fake/spam/duplicate."
Source:The Edge Markets
May 16, 2022 03:35 UTC
Six birdies on second day set Ervin up for podium finish
The 24-year-old made four birdies and one bogey on the front nine at Heron Lake Golf Course. Ervin was also consistent in the back nine with two more birdies on the 10th and 12th to conclude the second day with four-under 140 and is just two strokes adrift of leader Arsit Areephun of Thailand. Tying for second place with the Malaysian is Weerawish Narkprachar, who relinquished his overnight lead after an even-par 72. Eila’s compatriot Natthakritta Vongtaveelap put up a stunning five-under 67 for the second straight day to open up a seven stroke lead on 10-under. Malaysia’s Mirabel Ting is currently joint eighth (four-over 148) while Ng Jing Xuen dropped to 18th spot (four-over 76).
Source:The Star
May 16, 2022 00:43 UTC
Saudi Aramco 1Q net profit soars 82% on high oil prices
DUBAI (May 15): State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter (1Q) net profit, broadly in line with analyst forecasts, helped by strong oil prices. The world's top oil exporter was forecast to post a net income of US$38.5 billion, according to a median estimate from 12 analysts provided by the company. Brent crude prices ended 1Q up almost 70% to US$107.91 a barrel from end of March 2021. Aramco said it saw improved downstream margins in 1Q and is looking to develop opportunities in the downstream sector. Shares of the company have risen 37% since the start of the year, outperforming the Saudi index which is up nearly 14%.
Source:The Edge Markets
May 15, 2022 15:38 UTC
Mercury Securities eyes ACE Market listing
KUALA LUMPUR (May 15): After a failed merger with Kajang-based stockbroking firm JF Apex Securities Bhd, Mercury Securities Group Bhd (MSGB) is now looking at a potential initial public offering (IPO) on the ACE Market of Bursa Malaysia. The IPO price has yet to be fixed, but MSGB's share base would be expanded to 893 million shares upon listing. Through its wholly-owned Mercury Securities Sdn Bhd (MSSB), MSGB is principally engaged in stockbroking, corporate finance advisory and other related businesses. The stockbroking segment contributed to two-thirds of the group's turnover, while the remainder came from its corporate finance division. M&A Securities, whose managing director of corporate finance is prominent dealmaker Datuk Bill Tan, is valued at RM222 million.
Source:The Edge Markets
May 15, 2022 08:38 UTC
US visit a success, says PM
WASHINGTON DC: Prime Minister Datuk Seri Ismail Sabri Yaakob (pic) has described his four-day working visit to the United States as a success. He said the visit has further strengthened ties between Malaysia and the United States as well as that of Asean-US relations. “The United States is important to Malaysia from the aspect of politics and trade,” he told Malaysian media here on the final day of the visit which began on Tuesday (Wednesday in Malaysia). The United States is the second largest trading partner and fourth largest in terms of investment in Malaysia, he said. During the working visit, Ismail Sabri attended the Asean-US Special Summit and met US President Joe Biden, Vice-President Kamala Harris and other Asean leaders at the summit here.
Source:The Star
May 15, 2022 08:14 UTC
Ipoh family stunned by landslide just two days after moving into new home
IPOH: A family of five who just moved into their new home in Taman Sri Perkasa here two days ago were horrified when the perimeter wall of their home collapsed during a landslide. "Since the project started about two years ago, there have been numerous flash floods here. "This time, part of the slope collapsed," he said. Meanwhile, Gopeng MCA vice chairman Cally Ting said she would try to find a solution to the constant flash floods there. "We all want to find out the main cause of the flash floods and resolve it," she said.
Source:The Star
May 15, 2022 07:32 UTC
Tourism sector needs 15,000 to 20,000 more workers, says Nancy
KUCHING (May 14): Malaysia's tourism sector is currently facing a shortage of about 15,000 to 20,000 workers, said Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri. However, she noted that the problem of labour shortage is not only faced by the tourism sector but also involves all other industries in the country. According to her, the government is now trying to address the issue, including by bringing in workers from abroad. "My ministry has relayed this matter (the problem of the shortage of workers) to the Cabinet and the government has given approval to bring in workers from abroad. Commenting further, Nancy said to address the shortage of workers, she also suggested that employers hire local workers.
Source:The Edge Markets
May 14, 2022 23:07 UTC
Tech companies coddled their employees. Now they're firing them
After a boom that has lasted for nearly 15 years, the tech industry is in retrenchment mode. Tech employees who were once encouraged to bring their whole selves to work are publicly mocked as woke crybabies by venture capitalists who see Musk as the leader of a righteous cleanse. Sacks also suggested that Twitter’s failings were not caused by its former CEO Jack Dorsey, but by Dorsey’s overly coddled employees. Moreover, while tech valuations are way down, it’s not at all clear that employees have lost their leverage. It’s become commonplace to attribute the provocations of tech venture capitalists, especially those egging on Musk, to a sense of misplaced self-pity.
Source:The Edge Markets
May 14, 2022 15:47 UTC
World leaders mourn demise of UAE president
ANKARA: World leaders on Friday (May 13) extended condolences on the demise of United Arab Emirates (UAE) President Sheikh Khalifa Zayed Al Nahyan, reports Anadolu Agency. Sheikh Khalifa was buried at the Al-Batin Cemetery in Abu Dhabi after the funeral prayer on Friday. "Sheikh Khalifa Zayed Al Nahyan has shown impressive leadership and provided safety and security to the whole region. Leaders of Bahrain, Oman, Morocco, Jordan, Egypt, Palestine, Algeria, Lebanon, Iraq, and Yemen in separate statements also extended their condolences to the family of the late UAE president. "Sheikh Khalifa led the UAE since 2004, succeeding his father, His Highness Sheikh Zayed Sultan Al Nahyan, the country’s founder.
Source:The Star
May 14, 2022 15:32 UTC
Risk management encompasses ESG
To recap, business risk encompasses risk associated with compliance risk, operational risk and strategic risk. This includes human resources/labour risk, information technology and cybersecurity risk, safety risk, environmental risk and risk related to product/services offered by a company, and quality risk. Under the strategic risk, this may include political risk, regulatory risk, culture risk, currency risk and even country risk. When one is referring to financial risk, the risk here relates to market risk, credit risk and liquidity risk as well as cost controls, while hazard risk encompasses risk related to corruption, fraud, misconduct, litigation risk, property or fire risk as well as morale and reputation risk. This among others include all the financial risk factors, and some of the risk factors defined in the ERM framework under the business risk and hazard risk, which include political, country, catastrophic, property and fire risk, litigation risk as well as moral and reputation risk.
Source:The Star
May 14, 2022 15:04 UTC
Only ripple in pool expected from our swimmers
MEDALS will be hard to come by for our swimmers as Vietnam and Singapore are expected to lock horns to see who will rule the pool. Hoe Yean has a shot at winning the 200m backstroke as he had clocked the fastest time this year. The Kuala Lumpur lad is ranked third and second fastest for the 200m (1:48.77) and 400m (3:50.52). But currently the Sarawakian is only ranked fifth and sixth fastest for the 200m (1:49.24) and 400m (3:57.88). In the 50m breaststroke, Jinq En has the fastest time (31.40) ahead of Thailand’s Jenjira Srisa-Ard (31.41).
Source:The Star
May 14, 2022 06:51 UTC