News In Brief

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Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs. Below are snippets of all the media releases that we received from March 28 till the end of the week. Please check back throughout the week for more updates.

Athletes Can Now Apply For Education Grants

Sydney, March 28: Australian high performance athletes are encouraged to manage education and career pathways with their sporting ambitions as the Australian Institute of Sport (AIS) today opens a new round of applications for the AIS Education Scholarship Program.
Now in its second year, the AIS Education Scholarship program has already supported 77 athletes in Olympic, Paralympic and Commonwealth Games sports with grants of up to $5,000 to support their education.
Athletes can apply now for another $100,000 in grants, with applications closing April 18.
Grants of up to $5,000 are available per athlete.
Applications are available on the AIS website and open today and closes on April 18. 

Kenanga Investors Big Win

Kuala Lumpur, March 28: Kenanga Investors Berhad received a total of five awards at the 2022 Refinitiv Lipper Fund Awards Malaysia.
The fund house won the overall best Mixed Asset Group Provident award for the third time. Accompanying this were individual fund wins awarded to: 
“Despite yet another volatile year, Kenanga Investors was able to deliver outperformance against the prolonged market turbulence related to the haze of political uncertainty and the re-imposition of stricter nationwide containment measures towards the end of the second quarter,” Kenanga Investors Bhd chief executive Ismitz Matthew De Alwis said.
“Throughout 2021, our investments in technology and manufacturing companies locally yielded good results. These companies, which are mostly involved in the global semiconductor supply chain, benefited from rising global demand for electronics as more people worked from home in addition to the long-term structural drivers for this industry.
For more information about Kenanga Investors, please visit www.kenangainvestors.com.my.

DOC2US Bags Two Awards 

Kuala Lumpur, March 28: Homegrown digital health service provider, DOC2US took home two awards this month – the SOBA 2021 Rising Star Award where DOC2US was recognised as the best new, up-and-coming local enterprise that has displayed great potential to  become a successful player in the local and international market, and the ASOCIO Awards, held  in collaboration with the PIKOM Unicorn Tech Awards 2021, in the HealthTech segment.
“Bringing our brand forward as the face  of telemedicine has been a long-standing goal shared by the company and its people,” DOC2US CEO and Co-founder Dr Raymond Choy said.
“We are  honored to be given recognition for our efforts and we believe that it is through our shared  vision of providing access to quality healthcare for the public and advocating for true  digitalisation in Malaysia that our work has paid off today.
DOC2US is the electronic prescription (e-prescription) telemedicine provider in Malaysia that has  been awarded the “First Digital Signature Electronic Prescription System” by Malaysian Book of  Records. 

Bigo Live Celebrates Sixth  Anniversary 

Kuala Lumpur, March 29: Bigo Live, the leading global live streaming platform, marks its sixth  anniversary this year and celebrates its continued growth, with more than 400 million users in over  150 countries across the world. 
With the theme of #6inYourLife, Bigo Live will be kickstarting its sixth anniversary celebrations with two  special live streaming events – ‘Music Livehouse’, a singing and dancing competition, and ‘Livehouse’,  a 31-hour live streaming concert featuring some of the best broadcasters and performers from 22  regions around the world.  
Centered around a theme of “The Best of You,” ‘Music Livehouse’ will see users treated to  performances from over 300 Bigo Live broadcasters.
Held from 31 March to 3 April, Bigo Live users  will be able to watch and vote for their favourite broadcasters and send the top 72 broadcasters to  the grand finals on 8 April.
Running concurrently with ‘Music Livehouse’, Bigo Live users can also watch ‘Livehouse’ where Bigo Live broadcasters will perform a 31-hour live streaming concert from April 3 to 5. 

Cargotec And Konecranes Merger Cancelled

Sydney, March 30: The ACCC has discontinued its review of the proposed merger between global container handling equipment companies Cargotec and Konecranes.
Cargotec and Konecranes abandoned the transaction on March 29 after the UK Competition and Markets Authority (CMA) blocked the merger, and the US Department of Justice (DOJ) informed the parties that it intended to sue.
The ACCC started its review on last August 5 and released a statement of issues in October 2021 outlining its preliminary competition concerns, including the reduction of straddle and shuttle carrier suppliers in Australia from two to one, and gantry crane suppliers from three to two.
In February 2022, the ACCC commenced public consultation on Cargotec and Konecranes’ proposed divestiture remedy in which both parties undertook to divest a range of assets globally to address the concerns of the ACCC and international competition regulators. 
“While we had not come to a final conclusion, Australian customers expressed strong concerns that the proposed divestiture remedy may not have been sufficient to address the competition issues the merger might cause,” ACCC Chair Gina Cass-Gottlieb said.

Alpro Pharmacy Wins Award 

Kuala Lumpur, March 30: Malaysia’s largest prescription pharmacy chain, Alpro Pharmacy,  bagged the Malaysian Business of the Year awards and platinum awards for the Best in CSR and Best  in Customer Service during the SOBA 2021 Gala Night held recently at One World Hotel. 
The pinnacle award for SOBA, the Malaysian Business of the Year Award, is bestowed to local  enterprises that contribute to Malaysia’s economic growth and the sector’s vital role in nation building. 
In the meantime, the Best in Customer Service Award to the local enterprise that excels in providing  exemplary service to their customers with the overall best customer service practices and customer  service program, and the Best in CSR Award is given to local enterprise that is not only strong in  corporate social responsibility but apportions part of its profits and other resources to serve the needs  of the community. 
“We  are delighted to have been recognised for these awards. It would not have been possible without all  the hard work and effort from all Alproeans, our ever-supportive consumers and business partners,”  Branding, Promotion and Trade Marketing Director & E-Commerce Lead Lee Yin Chen said.

ASTEEL, UNIMAS Equips Workforce With Skills  

Kuching, March 30: ASTEEL Group forges ahead in its Smart  Manufacturing journey, leveraging technology and skills to be more agile  and to improve processes for efficiency, productivity, and consistency in  quality.
Towards this, the home-grown Sarawak company has been proactive in  upskilling its workforce through the Manufacturing Technology (CMT)  programme in collaboration with the Faculty of Engineering of Universiti  Malaysia Sarawak (UNIMAS) since April 2019.
The partnership with its academic partner was forged to support ASTEEL  Group’s plans to integrate Industry 4.0 to bring forth industry leading  efficiency; to support them with its digitalisation efforts and to equip its  factory operators with skill sets required for the future of work. 
A total of 18 employees received their Certification in Manufacturing Technology in a graduation ceremony held at UNIMAS’ Dewan Mutiara,  DeTAR Putra in Kota Samarahan today. 
The 18 are the second batch of graduates for the programme which came about  from a Memorandum of Understanding between UNIMAS and ASTEEL Sdn  Bhd. 

ACCC Flags Increased Focus On Horticulture Code 

Sydney, March 31: Some fruit and vegetable wholesalers are not meeting their legal obligations under the Horticulture Code of Conduct, recent audits by the ACCC have found.
The ACCC conducted audits after hearing through its Perishable Agricultural Goods Inquiry that some fruit and vegetable wholesalers were trading without Horticulture Produce Agreements, which is a breach of the code. Horticulture Produce Agreements are written contracts that growers and wholesalers must have in place before trading with each other.
The ACCC’s audits found that most wholesalers are complying with the requirement to trade under a Horticulture Produce Agreement, but identified that some are incorrectly reporting prices in their statements to growers, and failing to make their terms of trade publicly available.
“Under the Horticulture Code, many wholesalers are required to report what price they paid growers for the produce and what price they on-sold it for. Having this information provides greater price transparency for growers and enhances competition in the market,” ACCC Deputy Chair Mick Keogh said.
“Without a compliant statement, a grower who sells their produce to a wholesaler may not be able to see what retailers pay for their fruit or vegetables.”

Port Of Geelong Raises Concerns

Sydney, March 31: The ACCC has outlined preliminary competition concerns with the proposed acquisition of the Port of Geelong by the Spirit Super Palisade Consortium in a statement of issues published today.
The Spirit Super Palisade Consortium includes a range of superannuation and infrastructure funds including the Diversified Infrastructure Fund managed by Palisade Investment Partners. Investors managed by Palisade also wholly own and operate the Port of Portland, a bulk commodity port in south-west Victoria.
The proposed acquisition will therefore lead to minority common ownership between the Port of Geelong and Port of Portland.
“We are concerned the acquisition may substantially lessen competition in Victoria for the supply of port services for bulk cargo,” ACCC Commissioner Stephen Ridgeway said.
“For future large port users, there are very few bulk port options in Victoria. Between them, the Port of Geelong and Port of Portland handle over half of Victoria’s bulk cargo. This market structure is unlikely to change in the foreseeable future.”

Avance Clinical Announces New Office

Melbourne, March 31: Avance Clinical, the largest premium Australian Contract Research Organisation (CRO) for international biotechs, has opened new offices in Melbourne to support its growing clinical team in the greater Melbourne region.
The formal opening event was attended by all the Melbourne staff, as well the Avance Clinical executive team, and Board Members.
“We continue to offer a hybrid working environment for our team however, they are increasingly wanting more in-office face-to-face time with colleagues and clients – while still having the flexibility of working remotely,”Avance Clinical’s CEO Yvonne Lungershausen said.
“Avance is continuing to experience significant growth facilitating our expansion in the Melbourne CBD with new offices to accommodate our growing team,” she said.
Check for our latest positions open and join our Melbourne team here.

CUCKOO International Reports Revenue Growth

Kuala Lumpur, March 31: Healthy Home Creator, CUCKOO International (MAL) Sdn Bhd (CUCKOO International) recorded RM185.5 million in profit after tax (PAT) for the calendar year ending December 31, delivering its seventh consecutive year of topline growth amidst a challenging market backdrop with a 44 per cent year-over-year increase from 2020.
Coming off a record-breaking year, CUCKOO International is optimistic about its 2022 prospects with solid business strategies in the pipeline to create more healthy home solutions for Malaysians to live healthier and happier.
At the end of the fiscal year 2021, CUCKOO International achieved over RM1.13 billion in revenue in the Malaysian market, largely driven by positive growth and key product launches in the same year.
The overall solid financial results in the past year, combined with CUCKOO International’s commitment to pushing the boundaries of its capabilities, empowered over 1.4 million homes and 4.7 million household users with healthier solutions that are Beyond Standards.
At the same time, the company has established more than 640 branches nationwide since its inception in 2014.

The Place Holdings, Stellar Lifestyle Collaborate 

Singapore, Mar 31: SGX mainboard-listed company, The Place Holdings Limited has entered into a non-binding Memorandum of Understanding with Stellar Lifestyle Pte Ltd, a business arm of SMRT Corporation Ltd., to jointly collaborate to shape the future of digital media and tap new opportunities in the digital economy.
Creating vibrant transit destinations through continuous innovation and a desire to make our everyday touchpoints better, Stellar Lifestyle is the largest managing agent of retail and advertising spaces in Singapore’s rail network.
Notably, both The Place Holdings and Stellar Lifestyle aim to build Singapore’s first Sky Screen, a suspended video screen that will be an enhanced version of Beijing’s iconic attraction.
As a high-tech visual extravaganza, the Sky Screen is envisaged as a new attraction in Singapore that will be integrated with smart digital technology systems and immersive media, boosting new business vibrancy and creating new possibilities in digital media solutions.
“This MOU signifies our desire to jointly develop experiential solutions through leading-edge technology for smart commuter-station connections. We are confident that this would pave the way for greater business success together,” Seah Moon Ming, Chairman of SMRT Corporation Ltd said.

HappyFresh Malaysia, Delyva In Partnership

Kuala Lumpur, April 1: HappyFresh Malaysia has selected its DelyvaX delivery management system to streamline delivery operations, including at the newly launched HappyFresh physical supermarkets.
HappyFresh Malaysia has recently completed an integration with DelyvaX, allowing its online ordering system seamless access to third-party courier services.
“We have introduced to HappyFresh Malaysia a digital solution that makes managing deliveries efficient. Our system automates order processing and delivery status updates, so there is no more manual downloading of delivery order sheets or uploading them to a third-party courier,” Hanif Wahid, CEO of Delyva said.
Delyva has more than 20 standard courier partners and instant delivery partners operating in most major cities within Malaysia.

Kenanga Wins Another Award

Kuala Lumpur, April 1: Kenanga Investment Bank Berhad was awarded Champion for Best Overall Equities Participating Organisation at the coveted annual Bursa Excellence Awards, marking Kenanga’s second consecutive year receiving this prestigious accolade. 
This marks the second time Kenanga has been awarded Champion ‘Best Retail Equities Participating Organisation,’ in addition to winning in the  “Best Institutional Derivatives Trading Participant” category since 2014.
“It is an absolute honour to be awarded in multiple categories once again. We thank Bursa Malaysia for their recognition as it is an endorsement of the Group’s continuous efforts to innovation, given the complexity and challenges of the past year,” Kenanga Investment Bank Berhad Group Managing Director Datuk Chay Wai Leong said.
“These awards also serve as encouragement for the Group to further strengthen our commitment towards excellence.”
Honouring top performing brokers and intermediaries, the 10^th Bursa Excellence Awards, themed “Driving Possibilities, Elevating Excellence”, was graced by Tan Sri Abdul Wahid Bin Omar, Chairman of Bursa Malaysia Berhad, as well as Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia Berhad. 

Resintech Bhd Proposed Bonus Share 

Kuala Lumpur, April 1: Resintech Berhad, a fully integrated provider of polyethylene products and unplasticised polyvinyl chloride (uPVC), has proposed a bonus issue of up to 50,308,463 new ordinary shares on the basis of one bonus share for every three existing Resintech shares as well as a proposed bonus issue of up to 100,616,926 free warrants on the basis of one warrant for every two existing Resintech shares.
The entitlement date for the bonus issue of new ordinary shares will be determined and announced later by Resintech’s Board of Directors while the entitlement date for the bonus issue of free warrants will be determined and announced later by the Board based on the names of shareholders appearing in the Company’s record of securities holders.
The bonus shares will be entitled to the bonus warrants as the proposed issue of warrants will be implemented following the completion of the proposed bonus issue of shares.
“The proposed bonus issue of shares and warrants is to reward shareholders as the increase in the number of shares come at no cost to existing shareholders while the warrants enable them to participate in the derivative of the Company’s shares at no cost and at the same time provide them with an opportunity to increase their equity participation through exercising their warrants,” Resintech Managing Director Datuk Dr Teh Kim Poo said.
“The bonus share issue will also improve trading liquidity of Resintech shares through increasing the number of shares issued while the warrants will strengthen the Company’s capital base and shareholders’ funds as and when they are exercised.”

Presenting A Fintech Investment Opportunity

Kuala Lumpur, April 1: Fatfish Group Limited through its financial technology (fintech) arm, ASEAN Fintech Group, presented its suite of ‘ASEAN Fintech Investment Opportunity’ in partnership with Censuria Capital Sdn Bhd at a wealth management investor presentation session held at the Equatorial Plaza, Kuala Lumpur earlier today. 
Present at the session were FFG and AFG key management representatives, Censuria managing partners and potential high-net-worth investors in the technology and/or fintech space.
“The strategic partnership between FFG and Censuria through its fintech arm, AFG, provides for future-forward investment opportunities in the multi-vertical tech and fintech value chain of FFG.
“We strongly believe in cultivating best investment practices that contribute not only to the nation and industry’s growth, but also to provide investment accessibility to potential high net worth investors alike,” CS Wong, Managing Partner (Investments) of Censuria said.
“The Opportunity The ASEAN Fintech Investment Opportunity allows investors to participate in the invigorating growth and rapid expansion of the fintech segment of FFG, an integrated multi-vertical value chain across five dynamic countries in ASEAN with solutions and services in areas such as payments, lending buy now, pay later, insurtech and wealth management.
“With the accessibility to the ASEAN Fintech Investment Opportunity made available, it provides an avenue for potential future-forward sophisticated investors to gain wealth exposure in the tech and fintech sectors that are expected to stand the test of time especially in the digitalisation, automation and intelligence era we are in. We are indeed grateful to see how FFG and AFG have accelerated in growth and size in tandem with our mission to build, move and empower tech and fintech businesses under our portfolio,” Lau Kin Wai, CEO & Director of FFG, also the Executive Director of AFG said.
In the “Pulse of Fintech H1’21” published by KPMG in August 2021, its findings revealed that prominent high-growth sectors, particularly the fintech space, recorded USD98 billion in private investments in the first half of 2021 alone globally, compared with USD121.5 billion for the whole of 2020.
In “Global FinTech Investment Market, 2021-2025” published by Industry Research in August 2021, the global fintech investment market is also expected to grow by USD54.6 billion from 2021 to 2025, progressing at a CAGR ( compound annual growth rate) of 7.76 per cent during the forecast period. 

Community Coaching Undergoes Transformation

Sydney, April 3: Community coaching in Australian sport is undergoing its biggest transformation in more than 40 years with Sport Australia unveiling a modern coaching approach that focuses on the participant, their individual needs, aspirations, and motivations to play sport. 
Developed in collaboration with the sport sector, the new coaching approach is about educating and empowering coaches to create safe, fun, and inclusive environments where participants, volunteers and community sport can thrive.
“We know that in 2022, Australians engage with sport in a different way, and the national coaching model developed in the 1970s doesn’t meet today’s expectations,” Australian Sports Commission CEO Kieren Perkins OAM said.
“Our new approach will help Australia’s half a million community coaches reach their full potential and deliver the best possible experience for everyone involved.”
More information about the new approach can be found at here.

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