Cops warn of new 'cheap flights' scam
KUALA LUMPUR: Bukit Aman has detected an online flight ticket sale scam, which has resulted in victims losing a total of RM233,954. Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Mohd Kamarudin Md Din said the scammers would advertise the so-called flight ticket sale on the "cafe.naver.com/mymalaysia" website. "Victims are attracted to the website as it offers cheaper plane tickets," he said in a statement on Wednesday (May 11). After payments are made, victims do not receive any flight tickets, he said. Those with questions or information can contact CCID Scam Response Centre at 03-2610 1559 or 03-2610 1599.
Source:The Star
May 11, 2022 16:33 UTC
Two-pronged strategy advised
PETALING JAYA: Investors should adopt a two-pronged strategy made up of rotational plays on sectors and bottom-up stock-picking in this current market environment. “We believe the upside is capped, as the expectations of a broad-based economic recovery seems priced in, while the downside continues to be supported by bottom-fishing activities. “A ‘buy’ at the support level and ‘sell’ at the resistance level approach could thrive,” it added. RHB, which is known for its annual “Small-Cap Jewels” launch that reveals a list of its top stock picks, will launch its 2022 Small-Cap Jewels soon, the research house said. It noted that the rallies of its selected stocks were shortlived in 2021, and their subsequent performances were dragged down by an overall lacklustre market.
Source:The Star
May 11, 2022 12:55 UTC
My Say: Global supply chains could morph from just-in-time to just-in-case
Global supply chains, the circuitry that keeps global trade flowing, has been tripping of late. One, expounded by Larry Summers, the former US Treasury secretary and resonating with many in the west, argues that global supply chains should move away from just-in-time to “just-in-case”. The other contending view, emanating from the Internatonal Monetary Fund, is that global supply chains should be made more resilient through increased diversification. There is little doubt that globalisation, epitomised by global supply chains, has been beneficial for the world. As the needed realignment of global supply and value chains happens, developing countries can and should position themselves as recipients.
Source:The Edge Markets
May 11, 2022 06:24 UTC
My Say: Schools, universities and old boys’ clubs
Schools and universities are probably the most likely places for “Old Boys’ Clubs” to form. Essentially, a bunch of students — typically boys — become friends at the school or university and have an identity fusion with that school or university. Lumumba Hall, named after Congo’s independence leader Patrice Lumumba, has been a socially and politically ‘activist hall’ since its opening in 1971. But there are plenty of schools, especially boarding schools, which have their own, extremely strong, sense of identity. Progress requires the “new” — we need to be sufficiently aware of the consequences, positive or otherwise, of the persistence of such Old Boys’ Clubs.
Source:The Edge Markets
May 11, 2022 03:33 UTC
Long Covid patients take about six months to recover, says KJ
PETALING JAYA: Statistics have shown that 60% to 70% of Long Covid patients recover after six months from infection, says Khairy Jamaluddin. The Health Minister said that as of April this year, 2,798 patients have received in-patient treatment for Long Covid at the ministry’s rehabilitation centres. "This comprehensive rehabilitation programme involves interdisciplinary specialists, including rehabilitation specialists, medical officers and physiotherapists," he said in a statement on Tuesday (May 10). The minister added that 61.2% of Category Four and Five patients suffer from Long Covid. Among the symptoms of Long Covid include shortness of breath, fatigue, cough and muscle pain.
Source:The Star
May 11, 2022 00:05 UTC
Bargain hunting pushes Bursa Malaysia to end mixed, KLCI up marginally
KUALA LUMPUR (May 10): Bursa Malaysia ended mixed on Tuesday (May 10) with the FTSE Bursa Malaysia KLCI (FBM KLCI) snapping three consecutive days of losses to rise by 0.35%, as bargain hunting emerged in telecommunications and banking heavyweights, a dealer said. Total turnover declined to 2.75 billion units worth RM2.25 billion from 3.22 billion units worth RM2.03 billion on Monday. The Main Market volume declined to 1.98 billion shares worth RM2.08 billion from 2.4 billion shares worth RM1.9 billion on Monday. Warrants turnover improved to 352.23 million units valued at RM61.16 million from 207.99 million units valued at RM21.89 million on Monday. The ACE Market volume shrank to 415.82 million shares worth RM113.96 million versus 613.79 million shares worth RM107.08 million previously.
Source:The Edge Markets
May 10, 2022 22:21 UTC
Woman with a skirt ending 7cm below the knee barred from govt complex for 'indecent' dressing
JOHOR BARU: A woman whose dress extended to below her knees was denied entry at the Wisma Persekutuan complex here after a security guard deemed her attire as “provocative and indecent”. “The guard also insisted that non-Muslims should wear clothes that ended at the ankles or wear trousers at the very least. Fernandez added they walked past the guard post after telling the security guard that he wanted to speak to his superior. When approached, the security guard declined to comment. A check at the complex entrance found a sign disallowing entry to those wearing indecent and provocative clothing, salespersons and individuals who are paid to fill up forms.
Source:The Star
May 10, 2022 16:52 UTC
My Say: China must turn around its economy amid headwinds
This has compelled its leaders to adjust policies, but because they face domestic challenges that require sometimes conflicting policy measures, policy actions have been cautious and contradictory. Appreciating the magnitude of downside risks, the political leadership has now signalled a more forceful commitment to boosting the economy. Infrastructure spending will only jump-start the economy if local officials move expeditiously to implement projects. Fourth, private businesses are unlikely to regain confidence so quickly: Mixed signals from the leadership will keep private entrepreneurs unconvinced of the shift in the government’s attitude towards the private sector. • Growing concerns about China could lead to more capital outflows from China and further renminbi weakness.
Source:The Edge Markets
May 10, 2022 09:35 UTC
Disabled man, two others trapped in job scams
The disabled man is among three Malaysians believed to have been duped by false advertisements over social media into working as scammers in Cambodia, Thailand and Myanmar. According to a relative, who wished to be known as Ah Lee, 48, he last contacted his 22-year-old nephew Ah Chong in March. Ah Lee claimed that a man, who acted as an agent, had brought his nephew to Kuala Lumpur and lodged a missing passport report at Dang Wangi before getting a new one made. Ah Lee said during their phone calls, his nephew told him he was warned by his boss that if he fails to work, he would be transferred or have his organs removed. After a week, I was given the job of befriending people on social media and given 10 phones to create various accounts using fake profiles.
Source:The Star
May 10, 2022 07:32 UTC
KPDNHEP to investigate AirAsia’s flights delay issue, says Nanta
PUTRAJAYA (May 9): The Domestic Trade and Consumer Affairs Ministry (KPDNHEP) will conduct an investigation on the issue of delays and rescheduling of domestic flights involving AirAsia. While taking note of consumers’ grievances and complaints, its minister Datuk Seri Alexander Nanta Linggi said the issue of flight delays to various destinations in the country had been detected since the end of last month and was still ongoing. “KPDNHEP will continue to conduct investigations from the aspect of consumers’ interest and work with the Transport Ministry to resolve this issue and ensure it does not continue,” he said in a Twitter post on Monday (May 9). Through the Twitter thread, Nanta also shared some complaints and grievances of consumers who were dissatisfied with the rescheduling of AirAsia flights, which were posted on social media. “If you feel that you have not been adequately compensated, please lodge a formal complaint with the airline before contacting Mavcom,” he said.
Source:The Edge Markets
May 10, 2022 02:08 UTC
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Select list of nominees for 2022 Tony Awards
NEW YORK (AP) — Select nominations for the 2022 Tony Awards, announced Monday. Best Musical: “Girl From the North Country,” “MJ,” “Mr. Saturday Night,” “Paradise Square,” “Six: The Musical,” “A Strange Loop”Best Play: “Clyde’s,” “Hangmen,” “The Lehman Trilogy,” “The Minutes,” “Skeleton Crew”Best Revival of a Play: “American Buffalo,” “How I Learned to Drive,” “Take Me Out,” “Trouble in Mind,” “for colored girls who have considered suicide/when the rainbow is enuf”Best Revival of a Musical: “The Music Man,” “Company,” “Caroline, or Change”Best Performance by an Actor in a Leading Role in a Play: Simon Russell Beale, “The Lehman Trilogy”; Adam Godley, “The Lehman Trilogy”; Adrian Lester, “The Lehman Trilogy”; David Morse, “How I Learned to Drive”; Sam Rockwell, “American Buffalo”; Ruben Santiago-Hudson, “Lackawanna Blues”; David Threlfall, “Hangmen”Best Performance by an Actress in a Leading Role in a Play: Gabby Beans, “The Skin of Our Teeth”; LaChanze, “Trouble in Mind”; Ruth Negga, “Macbeth”; Deirdre O’Connell, “Dana H.”; Mary-Louise Parker, “How I Learned to Drive”Best Performance by an Actor in a Leading Role in a Musical: Billy Crystal, “Mr. Saturday Night”; Myles Frost, “MJ”; Hugh Jackman, “The Music Man”; Rob McClure, “Mrs. Doubtfire”; Jaquel Spivey, “A Strange Loop”Best Performance by an Actress in a Leading Role in a Musical: Sharon D Clarke, “Caroline, or Change”; Carmen Cusack, “Flying Over Sunset”; Sutton Foster, “The Music Man;” Joaquina Kalukango, “Paradise Square”; Mare Winningham, “Girl From the North Country”___Online: http://tonyawards.comSHARE:
Source:The Star
May 09, 2022 22:00 UTC
QuickCheck: Did JPJ use drones to catch traffic offenders during the Raya rush?
THE Road Transport Department (JPJ) used drones to catch red-light runners and queue-cutters during the recent balik kampung exodus. Verdict:TRUEAccording to JPJ, it employed drones during the recent holiday period to catch traffic offenders in the act. The drones were used to monitor traffic and detect those using the emergency lane or running red lights. In Negri Sembilan, the department used drones to detect offenders who were then later stopped to be summoned. "We now have two drones and hope to acquire five more as it is safer and more effective in traffic management," he added.
Source:The Star
May 09, 2022 21:40 UTC
Econpile bags RM37.36m contract for substructure works in Pantai Dalam development
KUALA LUMPUR (May 9): Econpile Holdings Bhd said it has bagged a contract worth RM37.36 million for substructure works in Pantai Dalam, Kuala Lumpur, in a bourse filing on Monday (May 9). The filing said that the project shall be completed within 15 months from May 5, 2022. "There are no foreseeable significant risks other than operational risk associated with the project during the contract period. The management would put in place control measures and operational procedures to reduce the impact or likelihood of such events," Econpile added. On Monday, Econpile's share price dropped one sen to close at 26 sen, valuing the construction group at RM368.6 million.
Source:The Edge Markets
May 09, 2022 17:05 UTC
Brokers Digest: Local Equities - Plantation sector, Westports Holdings Bhd, Frontken Corp Bhd, Uzma Bhd
Plantation sectorMAYBANK RESEARCH (April 25): Indonesia’s ban on palm oil exports will worsen the tightness in global edible oil supply. We expect Bursa Malaysia Derivative’s Futures Crude Palm Oil to trade higher (possibly retesting recent highs) while Indonesia’s domestic crude palm oil (CPO) price will gravitate towards subsidised cooking oil price if the ban stays. Pure Malaysian plays include Sarawak Oil Palms Bhd, Ta Ann Holdings Bhd, Boustead Plantations Bhd and Hap Seng Plantations Holdings Bhd. Nonetheless, we also believe that any fruition or materialisation of Uzma’s ventures into the solar space will serve as immediate re-rating catalyst. Currently, listed solar players (Solarvest Holdings Bhd, Samaiden Group Bhd, and Pekat Group Bhd) are trading at a huge valuation premium compared to Uzma.
Source:The Edge Markets
May 09, 2022 12:09 UTC
HLIB starts coverage of Hibiscus, target price at RM1.85
KUALA LUMPUR (May 9): Hong Leong Investment Bank (HLIB) Research has initiate coverage of Hibiscus Petroleum Bhd at RM1.40 with a “buy” recommendation and a target price (TP) of RM1.85 based on the NPV of all of its producing assets’ future cash flows (FCF) — based on each asset’s targeted lifespan. In a note on Monday (May 9), the research house said it strongly believes that investors have not priced in the exquisite prospects of Hibiscus’s profits and cash flows in the upcoming quarters — mainly from: i) additional production volumes from the completed acquisition of FIPC (Repsol) assets in Jan 2022; and ii) significantly higher crude oil prices. “At about only 4.5x FY23F P/E, we believe that Hibiscus is a compelling case and is conspicuously undervalued given its strong foothold in the upstream energy space. HLIB is forecasting Hibiscus’s core net profit to increase more than three times to RM336.2 million in FY22 and to rise yet again by another 86% to RM625.6 million in FY23 — representing a superior CAGR of 146%. “Our average realised crude oil price assumptions for the group is relatively conservative at US$90/bbl for FY22 and FY23,” it said.
Source:The Edge Markets
May 09, 2022 07:17 UTC