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 May 30 till June 5. Please check back throughout the week for more updates.
Leon Fuat Berhad Posts Increase In Revenue
Shah Alam, May 30: Leon Fuat, a manufacturer and trader of steel products, specialising in rolled long and flat steel products today released the Group’s financial results for the first quarter ended March 31, 2022 (“Q1FY2022”), registering a 29.1 per cent increase in revenue to RM273.02 million compared with RM211.48 million recorded in the corresponding quarter of the preceding financial year (“Q1FY2021″).
For the quarter under review, profit before tax stood at RM31.81 million, a 25.2 per cent decrease from the PBT of RM42.53 million achieved in Q1FY2021 while profit after tax stood at RM23.89 million, a 33.8 per cent decrease from the PAT of RM36.11 million recorded in the same quarter of the preceding financial year.
The Group’s trading of steel products segment registered a 21.1 per cent increase in revenue to RM90million in Q1FY2022 compared with RM74.29 million recorded in the corresponding quarter of the preceding financial year while the processing of steel products segment registered a 33.4 per cent rise in revenue to RM182.93 million compared with RM137.11 million achieved in Q1FY2021.
The trading segment’s contribution to revenue stood at 33 per cent in Q1FY2022 compared with 35.1 per cent in the corresponding quarter of the preceding financial year while the processing segment’s contribution stood at 67 per cent compared with 64.8 per cent in Q1FY2021.
Ta Win Recognized at Asia Pacific Enterprise Awards
Kuala Lumpur, May 30: Ta Win Holdings Berhad (Ta Win), Malaysia’s leading public-listed company specializing in manufacturing and sales of top-quality copper wire, wire harness and cross-linked wire products, today announced that it received industry recognition at the Asia Pacific Enterprise Awards 2022.
Ta Win won the Corporate Excellence Award in recognition of its outstanding business growth, talent retention and development culture and diversifying its business while remaining true to its corporate mission.
Since a new leadership change in 2018, Ta Win has been experiencing blistering growth, from a market capitalization then of 20 RM to 500 RM and over 700 employees today.
In 2019, Ta Win transitioned from a downstream business to supporting the EV industry. It is higher profit, a significant addressable market, and a positive way to support sustainable development.
The company has focused on green energy and sustainability, transforming its business to both ensure emissions reductions while developing new vertical pathways, such as becoming a supplier of choice for the EV industry from Southeast Asia.
Ta Win, UPM In R&D Collaboration
Kuala Lumpur, May 31: Ta Win Holdings Berhad (Ta Win), an integrated Malaysian manufacturer of copper products, through its subsidiary Ta Win Copper Biohealth Sdn Bhd (TWCB), today entered into a Research and Development Collaboration Agreement with a leading research institution Universiti Putra Malaysia (UPM).
This will see Ta Win and UPM embark on research to explore the wound healing effects of copper, with a view toward potentially developing copper-based products for the healthcare market.
“As part of our strategy to explore the downstream application of the biochemistry and chemistry of copper, this partnership with UPM will enable us to tap into this further by determining the healing effects of copper,” Datuk Seri Ngu Tuieng Ung, Group Managing Director of Ta Win said.
“Copper is already known for its antioxidant and antibacterial properties, and several studies have found evidence of the abilities of copper in enhancing and easing wound healing.
The project is set to take place over a two-year period from this June to May 2024 and the research will be carried out by UPM in cooperation with TWCB.
Malaysian Consumers Want More Sustainability
Kuala Lumpur, June 1: More than three quarters (77 per cent) of Malaysian consumers want their bank or financial institution to become more sustainable in the future, and 65 per cent would consider switching to a bank with a stronger commitment to sustainability, according to a new report from cloud banking platform Mambu.
The report surveyed over 6,000 consumers globally, and over 500 from Malaysia, on their attitudes to green finance globally.
It reveals that, while most consumers are in favour of greener financial options, they have little trust in the industry’s sustainability credentials, with 74 per cent of Malaysian consumers and 67 per cent of global consumers believing their current financial institution is guilty of greenwashing.
The findings highlight the green finance opportunity for banks globally, with nearly half (49 per cent) of all global consumers surveyed saying they would consider switching to a provider with a stronger commitment to sustainability.
To read the full report, go here.
New Study By edotco and Roland Berger Finds…
Kuala Lumpur, June 1: edotco Group, has launched a study in collaboration with Roland Berger titled, ‘Towering Above: Building Tomorrow’s Digital Infrastructure in Asia’.
The study estimates that Tower Companies (TowerCos) can help Mobile Network Operators (MNOs) save up to US$10 billion through infrastructure sharing and result in cumulative savings of up to US$67 billion for consumers due to affordable 5G connectivity by 2025.
Further, the study also shows that TowerCos can enable sustainable digital connectivity by reducing up to 17 million metric tonnes in carbon footprint by 2025.
To discover more insights from the Towering Above: Building Tomorrow’s Digital Infrastructure in Asia study, go here.
Discover the Wonders of The Womb with Libresse
Kuala Lumpur, June 1: Take an exploratory journey to where life begins with the Libresse® Wonders of the Womb (WoW) campaign. Central to the campaign is the launch of a one-of-a-kind Wonders of the Womb: A Virtual Discovery interactive experience via the Libresse® Wonders of the Womb campaign microsite.
Other initiatives include retail promotions, a series of on-ground initiatives in malls, universities and other locations via roving mobile trucks nationwide, and a collaboration with advocates of the pro-social movement Peduli Merah which is dedicated to addressing period poverty, all to deepen awareness and normalise conversations on a woman’s V-Zone and menstrual health.
“Even in these modern times, there remains low understanding about V-Zone health and our consumer research indicates that two in three women find it difficult to ask questions or talk openly about the topic,” said Cheryl Wang, Marketing Manager, Feminine Care, Vinda Malaysia.
In addition to the Virtual Discovery, Libresse® also invites women to check out the official Libresse Tik Tok page for a series of short, educational yet entertaining videos on the A-Z of the womb and tune in to a Facebook live stream (@libressemalaysia) of the Libresse Wonders of the Womb event, jointly organised with Peduli Merah and the International Islamic University of Malaysia (IIUM) Student Union, on Wednesday, June 8 from 8.00 pm – 10.00 pm.
Balthazar Launches First pNFT Game Marketplace
Sydney, June 2: NFT gaming platform Balthazar has launched the world’s first marketplace designed for trading playable NFTs.
The platform makes it easy to acquire NFTs that are generating passive income.
Balthazar’s Beta launch of its pNFT Marketplace signals a new wave of innovation in the NFT sector, which despite a very recent slowdown, has already surpassed the entirety of 2021 in terms of volume generated.
Through an OpenSea integration, the Balthazar Marketplace allows NFT holders to trade their portfolio of playable NFTs with scholars still attached.
The Balthazar Marketplace is a step towards its vision of creating a self-sustaining, wealth building ecosystem in the metaverse.
Click here to check out the new Balthazar Marketplace.
Awesome TV Launches New Programs
Kuala Lumpur, June 2: Malaysia’s latest free-to-air private station Awesome TV has launched its latest ‘Sitcom’ slot which brings together a lineup of great casual comedy content airing every Saturday and Sunday, at 9.00 pm starting from June 11 onwards.
The addition of ‘Sitcom’ slots also completes the existing line of program slots, namely ‘Malar Segar’, ‘Awesome Movie’, ‘Filem Kita,’ ‘Ohsem Tele,’ ‘Ohsem Lejen,’ ‘Hindi Special,’ ‘Mystery,’ ‘Saturday Horror,’ ‘Dramatix’, ‘Dramedi,’ ‘Asian Drama,’ ‘International Series’ and ‘Ohsem-Tainment’.
“To further strengthen the more effective content strategy, we decided to inject major improvements in terms of revamped broadcast slot schedule details as a whole in order to provide the maximum viewing experience to Malaysians,” Ezzan Zalilah Zulfadzli, the station’s the Director of Awesome TV Content Unit said.
“We at Awesome TV are very excited and positive about the new restructuring strategy and content that will be presented throughout the year and we are also targeting overall view growth to jump to two billion by 2022. ”
Ransomware Attacks On Healthcare Organizations Rises
Kuala Lumpur, June 2 Sophos, a global leader in next-generation cybersecurity, has published a new sectoral survey report titled “The State of Ransomware in Healthcare 2022.”
The findings reveal a 94 per cent increase in ransomware attacks on the organizations surveyed in this sector.
In 2021, 66 per cent of healthcare organizations were hit, and 34 per cent were hit the previous year.
The silver lining, however, is that healthcare organizations are getting better at dealing with the aftermath of ransomware attacks, according to the survey data.
The report shows that 99 per cent of those healthcare organizations hit by ransomware got at least some of their data back after cybercriminals encrypted it during the attacks.
The State of Ransomware in Healthcare 2022 survey polled 5,600 IT professionals, including 381 healthcare respondents, in mid-sized organizations (100-5,000 employees) across 31 countries.
Perfect Corp Partners With The Pink Agenda
New York, June 2: Perfect Corp, an artificial intelligence (AI) and augmented reality (AR) beauty and fashion tech solutions provider, partners with The Pink Agenda, a non-profit organization committed to raising money for breast cancer research and care, for a special digital campaign this June, honouring National Cancer Survivors Day.
The digital campaign includes the launch of an exclusive The Pink Agenda “Think Pink” filter effect available for virtual try-on in the YouCam Makeup app, and the #Move2RaiseHell Virtual Race for Research, paying tribute to the 3.8 million people who have undergone breast cancer treatment in the United States.
These unique virtual elements aim to connect supporters around the country through the power of technology.
Join the #Move2RaiseHell Virtual Race for breast cancer research on June 5 by registering here.
Uzbekistan Plans Tashkent-KK Route
Kota Kinabalu, June 3: Agents for Uzbekistani charter airlines are looking at Sabah as a possible future direct flight destination.
If this plan comes to fruition, it will further put Sabah on the global map as a destination of choice for Central Asian tourists.
On Friday, Sabah Tourism, Culture, and Environment Assistant Minister Datuk Joniston Bangkuai had a meeting with the Uzbekistan representatives to discuss the matter, among others.
They were Uzbekistan-based Osmon Aero co-founder Dilshod Mukhomediev and director-general Anastasiya Arushanova.
Also present were Malaysian Association of Tours and Travel Agents (Matta) president Datuk Tan Kok Liang, Matta Sabah chairman Lawrence Chin, Malaysian Association of Hotels (MAH) for Sabah and Labuan chairman Hafizan Wong, and Sabah Tourism Board chief marketing officer Tay Shu Lan, among others.
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