News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you and write them in no more than five paragraphs. Below are snippets of all the media releases that we received from Sept 13 till Sept 19. Please check back throughout the week for more updates.

Astro Turns 25

Kuala Lumpur, Sept 13: Astro customers will be in for a treat with a live virtual concert, featuring a star-studded line up of international, Korean and local artistes on September 25 at 8:30PM on Astro 25 (Channel 100) on TV and Astro GO.
The Astro 25 concert is a gesture of Astro’s appreciation to customers to thank them for their support in Astro’s journey to be the #1 entertainment destination in Malaysia.
“As part of Astro’s 25 years of serving Malaysians, we are delighted to showcase our Astro 25 Concert, with a line-up of specially curated performances by Astro’s homegrown talents and popular regional and international acts. In line with our 25^th Anniversary theme, we believe that we are ‘Better Together’ and this concert is a tribute to our incredible customers and local talent industry who have supported us throughout the years keeping Malaysians entertained and informed as we expand our reach beyond TV and radio,” Astro, Director of Content Agnes Rozario said.
“Broadcast on Channel 100, all Astro customers can enjoy the performances from the comfort of their homes with their families.”
Hosted by Nabil Ahmad and radio personalities Ean, Arnold and Aishah Sinclair, this mega three hour talent fest will also be streamed on Astro GO.

MR.D.I.Y. Receives Three Investor Relations Awards 

Kuala Lumpur, Sept 13: Homegrown retailer MR D.I.Y. Group (M) Bhd (“MR D.I.Y.”), received three awards at the Alpha SEA 11th Institutional Investor Corporate Awards 2021 last week, just one year after its listing on Bursa Malaysia.
The company was named the recipient of the “Most Organised Investor Relations” and “Best Senior Management IR Support” awards, while its Senior Vice President of Finance, Lim Chen Hwee, was named the “Best CFO in Malaysia”.
Adrian Ong, Chief Executive Officer, MR D.I.Y. Group (M) Bhd described the recognition as an honour,  placing MR DIY as it did amongst the top public-listed companies in the region.
The Alpha SEA 11th Institutional Investor Corporate Awards are based on the results of a perception-based poll which evaluates companies based on their performance in financial management, adherence to corporate governance, integrated reporting, corporate social responsibility, and investor relations.
Votes were gathered from 502 investors and analysts, who voted across various categories to decide which public-listed companies across Southeast Asia deserved to be recognised.

Asia’s fashion showcase CENTRESTAGE concludes

Hong Kong, Sept 13: Asia’s premier fashion event CENTRESTAGE, organised by the Hong Kong Trade Development Council (HKTDC) and sponsored by Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region, drew to a successful close yesterday.
The three-day extravaganza from Sept 10-12 brought together more than 200 fashion brands from 24 countries and regions, with 30 fashion events taking place. It attracted over 2,550 trade buyers and more than 17,200 public visitors to participate and source fashion items. 
“CENTRESTAGE, the premier annual event in the Asian fashion industry, is the first and largest fashion event staged in Hong Kong since the pandemic began,” HKTDC Deputy Executive Director Benjamin Chau said in a statement.
“The fair helped industry participants exchange the latest fashion information and develop their businesses.”
Over the three days of the event, close to 700 video business meetings were arranged to match global fashion buyers with exhibitors online.

Reckitt  Donates 386,500 Dettol Products

Kuala Lumpur, Sept 13:  Reckitt handed over 386,500 units of Dettol hygiene products to the Malaysian Red Crescent Society (hereinafter referred to as MRCS), a sister National Society of the British Red Cross as part of Reckitt’s global partnership in the Disaster Relief Alliance with the British Red Cross.
Reckitt’s product donation will support the organisation’s initiatives to address how the COVID-19 pandemic situation has substantially affected vulnerable and rural communities, and to showcase support for frontliners battling the crisis. 
The donation includes 386,500 units of Dettol Hand Sanitiser, worth a total of RM3 million. Besides proactive product donations for emergency preparedness, Reckitt’s global partnership also entailed a donation of RM1.5 million to the Red Cross Disaster Relief Alliance; donation of employee time through volunteering initiatives; and employee fundraising initiatives. 
Since the start of the COVID-19 pandemic last year, Reckitt Malaysia has shown consistent and robust support to the local communities by conducting 26 donation initiatives amounting to RM1.2 million. 
The recipients include hospitals, medical centers, government programs, and retailers.

CGMA Program launched in Malaysia

Kuala Lumpur, Sept 14: The Association of International Certified Professional Accountants (the Association), the unified voice of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA), has launched its CGMA Finance Leadership Program in Malaysia to aspiring accounting and finance professionals to help build the skills demanded in today’s business environment. 
The CGMA Finance Leadership Program builds through e-learning and assessment the competencies needed for driving business performance and decision making. 
“Through the CGMA ® Finance Leadership Program, we are now able to reach more people, support more employers and provide greater access to the profession,” said Irene Teng, Managing Director – Global Markets at the Association of International Certified Professional Accountants in a statement.
It covers finance, accounting, business, people, and digital skills set out in the CIMA Professional Qualification syllabus and assesses their application across operations, management and strategy. 
Learn more about the CGMA ® Finance Leadership Program here.

The Hotel Accepting Cryptocurrency 

Singapore, Sept 14: Effective immediately, guests staying at The Chedi Andermatt in Switzerland can now pay for their stay using cryptocurrencies such as Bitcoin and Ethereum.
Four years ago, The Chedi Andermatt first started thinking about accepting cryptocurrencies as a service to guests.
“As cryptocurrency payments become ever more widespread and gain ever more acceptance, we are proud to be one of the first Swiss luxury hotels to offer guests secure cryptocurrency payment options, ”The Chedi Andermatt GM Jean-Yves Blatt said in a statement.
“This makes a clear statement to our clientele that we are open to new technologies, as we offer this new payment experience as an additional service.”
Starting at an amount of CHF 200.00 hotel guests can pay at the front desk of The Chedi Andermatt with Bitcoin and Ethereum just as easily as they can with other conventional means of payment.

New Sports Channels on Astro

Kuala Lumpur, Sept 15:  Sports fans can look forward to three new channels – Astro SuperSport 5, Astro Arena 2 and a brand-new sports channel SPOTV from Oct 1, at no extra cost.
Astro Sports Pack customers will continue to enjoy top global sporting events such as UFC, Formula 1, Bundesliga, ATP, and WTA on Astro SuperSport 5; and MotoGP, Wimbledon and the US Open on SPOTV.
This follows Disney’s announcement that it will be discontinuing certain linear channels in the region after Sept 30, as part of its strategy to push its streaming services instead. Subsequently, FOX Sports, FOX Sports 2 and FOX Sports 3 are among the linear channels that all regional South East Asia partners including Astro will cease broadcast after Sept 30.
Building on the popularity of Astro Arena, Astro Arena 2 will feature edgy and localised coverage of international sports and sports news updates for Malaysian sports fans, as well as live studio presentations for WWE, BWF and more in new formats that appeal to younger fans. Astro Arena 2 will be on the Family Pack for all Astro customers to enjoy.

WadzPay Partners With XinFin

Singapore, Sept 15: WadzPay has partnered  with the enterprise-ready hybrid Blockchain technology company, XinFin. 
WadzPay currently offers Issuance, Acceptance and Remittance products, and this partnership with XinFin will further enhance its offering with Trade Finance and Buy Now Pay Later (BNPL) like products and solutions. 
“XinFin is a great addition to our ecosystem; there is a macro shift that is happening in the market right now; our vision is to transform the payments space,” said Anish Jain, Managing Director and CEO of WadzPay.
The suite of products will be made available to merchants, wallets, aggregators, banks and other financial institutions across the world. 
The partnership will also leverage XinFin’s Global Network and enable the use of XDC on the WadzPay platform along with 250 currencies which are already supported currently. 

Top Glove Delivers Strong Full Year Results

Shah Alam, Sept 17: Top Glove Corporation Bhd has announced its financial results for the Fourth Quarter ended 31 August 2021 (4QFY2021) and full  financial year 2021 (FY2021), overcoming a challenging operating environment to achieve its most  robust performance yet, while focusing on long term value creation for stakeholders.  
For the financial year 2021 (FY2021), Top Glove’s Sales Revenue amounted to RM16.4 billion, soaring 127 percent from FY2020. 
Profit After Tax also grew to RM7.98 billion, a 346 per cent jump compared with the  previous financial year. 
Meanwhile, the Group’s net cash position as at 31 August 2021 remained  healthy at RM2.05 billion.  
Sales Revenue for 4QFY2021 amounted to RM2.12 billion, softer by 32 per cent versus 4QFY2020, while  Profit After Tax came in at RM631 million, easing 48 per cent compared to the corresponding period in the  previous year. 
Sales Volume was also 33 per cent lower year on year. 

NI HSIN Signs MOU With TAILG

Kuala Lumpur, Sept 17: Ni Hsin EV Tech Sdn Bhd, a wholly-owned subsidiary of Main Market-listed Ni Hsin Group Berhad has entered into a Memorandum of Understanding with Dongguan Tailing Motor Vehicle Co., Ltd. (“TAILG”) with the intention to collaborate and explore opportunities in the study, research, development, assembly and distribution of customised Electric Vehicles (“EV”) for commercial purposes in Malaysia and the ASEAN region.
Established in 2004, TAILG is one of the top three manufacturers of electric two-wheelers in China with a presence in over 75 countries and a research and development arm that has come up with over 420 patents relating to high performance EV, extended efficiency and cloud services.
“The transport sector is responsible for 14 percent of global greenhouse gas emissions. The challenge of reducing transport emissions is proving increasingly important,” Khoo Chee Kong, Managing Director of Ni Hsin EV Tech Sdn Bhd said. 
“This puts the emphasis on technological and organisational change, steering the world towards electromobility and zero-emission transport with the ultimate effect of reducing emissions in this sector and improving the health of the planet’s population.”
Businesses such as  Amazon, Flipkart, IKEA, Swiggy and Grofers have begun to embrace using EVs for delivery as they offer tangibly lower maintenance and operational costs due to their radically simpler mechanical systems that require little regular upkeep, such as not requiring costly oil changes.