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 Nov 26 till the end of the week. This column updates regularly throughout the week.

Jetstar And Zip Partnership Takes Off

Sydney, Nov 29: Jetstar customers can now book domestic and international flights using leading Australian buy now, pay later platform, Zip.
The collaboration is an expansion of the Qantas partnership announced earlier this year and provides more flexible payment options for Jetstar customers – just in time for the holiday season.  
Both ZipPay and Zip Money will be available for eligible Jetstar customers. Zip Pay allows customers to flexibly pay for purchases of up to $1,000 (interest free), while Zip Money facilitates purchases of up to $10,000 (up to 6 months interest free). 
Recent Zip data showed that more than 90 per cent of Australians are planning to book a trip or have a holiday planned in the next 12 months.
BNPL users are also more likely to travel in the next 12 months compared to the average Australian over 18 and of BNPL users, 57 per cent said they would also consider using Zip to pay for travel and accommodation.   

PRU.my Attracts Thousands Of Users 

Kuala Lumpur, Nov 29: PRU.my, a new online polling platform has reported that 12,963 people signed up to cast their predictions for Malaysia’s 15th general election (GE15).
A total of 935,714 predictions covering all contested seats at the parliament and state assembly levels were recorded.
Within 12 hours of going live, the platform already had 700 signups, and in less than one week the number surpassed 12,000.
PRU.my is a project founded by Silentmode Sdn Bhd, a technology company from Bangi. 
Part of the mission of PRU.my was also to encourage people to participate in the process of democracy, especially young Malaysians who were qualified to vote for the first time.

Many Organisations Were Breached At Least Once

Kuala Lumpur, Nov 29: Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced that 72 per cent of organisations in Malaysia have had customer records compromised multiple times over the past 12 months as they struggle to profile and defend an expanding attack surface.
The findings come from Trend Micro’s semi-annual Cyber Risk Index (CRI) report, compiled by the Ponemon Institute from interviews with over 4,100 organisations across North America, Europe, Latin/South America, and Asia-Pacific.
The CRI calculates the gap between organisational preparedness and the likelihood of being attacked, with -10 representing the highest level of risk. The global CRI index moved from 0.04 in 2H 2021 to 0.15 in 1H 2022, indicating a surging level of risk over the past six months.
Organisations in North America and Asia-Pacific saw an increase in their cyber risk from 2H 2021. This means that the respondents feel more risk associated with preparing for cyberattacks as well as a higher risk of the current threats targeting them.

Zerobank To Offer Full-Cloud Banking System 

Kuala Lumpur, Nov 29: Zerobank Design Factory Co.,Ltd. (ZDF), a subsidiary of Fukuoka Financial Group, has announced that it will begin offering a full-cloud banking system.
The system is based on the core system that ZDF and Accenture developed for Minna Bank. ZDF will provide this system to domestic and overseas financial institutions, as well as to non-financial businesses seeking to introduce new banking services.
By promoting digital transformation in the global financial industry, ZDF aims to realize its mission to ‘Deliver valuable connections to everyone’. 
The system will enable businesses to quickly build banking systems from scratch on the cloud, allowing them to rapidly expand financial services optimized for each customer.
All services can be completed on a smartphone through an intuitive user interface that makes opening accounts, making deposits, transferring money, and applying for loans effortless. 

 Hosting On Airbnb Gains Momentum

Kuala Lumpur, Nov 30: As the holiday season awaits and the travel rebound continues to unfold, more Malaysians are turning to hosting on Airbnb for additional income.
A new survey commissioned by Airbnb* reveals that 43 percent of homeowners in Malaysia surveyed have considered hosting to take advantage of the new appetite for travel. 
Around the world, Airbnb has seen strong growth rates of new Hosts, especially in countries with high inflation rates.
Notably, 85 percent of Malaysians polled said they were looking for ways to offset rising costs of living.
The survey also shows that desire for travel remains high, with more than one third of respondents saying that they will continue to find ways to travel even if general costs of living rise.
The online survey of 1057 respondents was commissioned by Airbnb Malaysia and conducted by YouGov between Oct 5- 9.

SCIB Posts 14.5 PC Increase 

Kuching, Nov 30:  Civil engineering specialist Sarawak Consolidated Industries Berhad has registered a 14.5 per cent increase in revenue to RM30.3 million for the first quarter ended Sept 30 compared with RM26.5 million in the corresponding quarter of the previous financial year.
For the quarter under review, SCIB’s loss before tax (“LBT”) narrowed by 65.3 per cent to RM942,000 compared with LBT of RM2.7 million in 1Q FY2022. 
On a segmental basis, revenue contribution from manufacturing increased 26.8 per cent to RM24.2 million in 1Q FY2023 compared with RM19.1 million in the corresponding quarter of the previous financial year while revenue contribution from the engineering, procurement, construction and commissioning (“EPCC”) business decreased 16.9 percent to RM6.2 million from RM7.4 million.
As of Nov 30, SCIB has an order book of RM 564.7 million with earnings visibility until 2026. 

Salim & WIR Group Develops World of Metaverse

Salim Group & WIR Group Join Hands to Develop the World of Metaverse.

Jakarta, Nov 29: Salim Group had previously confirmed its existence in the digital business and it’s now venturing into the world of metaverse.
Taking part in the development of metaverse for Indonesia, together with WIR Group, Salim Group established a joint venture company called PT Metaverse Indonesia Makmur.
Powered by WIR Group’s expertises in the fields of Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI) that are built based on its experiences in completing thousands of projects in more than 20 countries since 2009, Salim Group sets  a firm stride to enter and explore the metaverse world in a quest to create new innovations and breakthroughs, and to optimize every opportunity with the goal to maximize the growth of its business. 
The prototype of the Nusameta metaverse ecosystem was unveiled at the NXC International Summit 2022 on Aug 31,in Bali. 
Through Nusameta, people of Indonesia can begin to really enter the metaverse world and get unique immersive experiences, explore various potentials and obtain various benefits. 

Yew Lee’s Posts RM6.1M Revenue in Q3

Kuala Lumpur, Nov 30: Yew Lee Pacific Group Berhad is a manufacturer of industrial brushes as well as trading of industrial hardware and machinery parts, today announced that the Group recorded revenue of RM6.10 million for the third quarter ended Sept 30.
There are no comparisons on a year-over-year basis as the Group was listed on the ACE Market of Bursa Malaysia Securities Berhad on 7 June 2022. 
For the quarter under review, Yew Lee reported gross profit of RM2.12 million while registering profit before tax (“PBT”) of RM0.96 million and profit after tax of RM0.76 million.
For the nine-month period ended 30 September 2022 (“9M 2022”), the Group registered RM24.35 million in revenue while recording a profit before tax of RM0.39 million and a loss after tax of RM0.41 million.
Manufacturing activities contributed RM3.84 million to total revenue while trading activities contributed RM2.27 million in 3Q FY2022. 
The Group’s overseas markets include Thailand, Vietnam, Indonesia and Taiwan, which contributed about a quarter to total revenue in the financial year ended Dec 31.

 Aussies Struggling To Cope 

Melbourne, Dec 1:  Salary underpayments are adding to Australian workers’ financial burden, as they struggle with rising inflation and increasing cost of living expenses.
Two in three workers (64 per cent) are still experiencing underpayment issues, according to new data from global payroll and HR provider ADP – up from one in two just 12 months prior.
Findings from ADP’s annual People at Work 2022: A Global Workforce View, a survey of 1,400 workers in Australia, also found that one in nine workers (11 per cent) have reported that they are ‘always’ underpaid by their employers.
Worryingly, this represents a doubling in underpayments in the last year alone. Additionally, over half of workers surveyed have experienced other underlying issues with their pay (57 per cent), such as failed payments or incorrect tax codes. 
Australia’s growing underpayment issue is worsened by a reported lack of action from employers to correct payments quickly as more than six in 10 workers (61 per cent) say their employer has failed to resolve their underpayment issue within the next pay cycle.

JANA Announces New GM

Sydney, Nov 30: JANA has today announced the appointment of Lauren O’Neill as the new General Manager, Strategy & Innovation, replacing Georgina Dudley who takes on the Chief Executive Officer position on Dec 1.
O’Neill is currently the Head of Client Development, leading the team and cultivating client relationships at JANA. In this role, Ms O’Neill has facilitated a number of key strategic partnerships and change management projects which has driven the firm through a significant period of growth.
O’Neill has over 20 years’ experience in strategic growth and change roles, as well as managing client account, marketing and distribution teams in Europe and Australia. Ms O’Neill was also previously a Director at UK partnership firm LCP.
As General Manager, Strategy and Innovation, O’Neill will explore and lead strategic initiatives that support JANA’s growth as well as delivering impactful change from vision through to delivery and execution.

Swift Go Sign-Ups Triple

Sydney, Dec 1: Swift today reported significant progress in 2022 toward the G20’s goals for enhancing the cross-border experience, rapidly setting a new standard for low-value payments, transforming upfront payment processing to remove friction, bringing new levels of transparency to the securities industry, and delivering breakthrough innovation to integrate CBDCs into the financial ecosystem.
The progress is the result of strong strategic focus over the past two years to enable instant, frictionless processing between four billion accounts worldwide and aligns with the G20’s objectives of improving speed, cost, transparency, choice and access in the cross-border payments experience. 
To this end, in October, Swift announced ground-breaking innovation after successfully demonstrating how Central Bank Digital Currencies (CBDCs), and tokenised assets, could be exchanged across DLT and fiat-based systems .
Swift’s innovation proved that ‘digital islands’ across the world can be connected, realising the technology’s full potential to enable instant and frictionless payments and securities transactions.
The CBDC solution is now being tested with 18 central and international commercial banks.

New Chief Financial Officer for Chubb in Malaysia

Chubb announced today the appointment of Abbas Choker as its new Chief Financial Officer for Malaysia.

Kuala Lumpur, Nov 30: Chubb announced today the appointment of Abbas Choker as its new Chief Financial Officer for Malaysia. In his new role, Choker will be responsible for Chubb’s financial affairs including corporate finance, taxation, treasury and investments in Malaysia.  
Choker is a seasoned professional with over 17 years of experience in the insurance industry, having previously worked for major insurance organizations in multiple markets across Asia as well as Australia and New Zealand.
He brings with him a wealth of experience in finance operations, planning and budgeting, control tools and framework, as well as building scale and efficiency using automation and technology.
“I am delighted to have Abbas on board in this important role. Abbas’ extensive experience in financial management coupled with his broad knowledge of insurance operations will be invaluable to Chubb’s operations in Malaysia as we continue to focus on executing our strategy and delivering long term and sustainable growth,” Country President of Chubb in Malaysia, Steve Crouch said.

Teleport Unveils Teleport Pink 

Kuala Lumpur, Dec 2: The era of expensive international deliveries are finally over in Malaysia, as Teleport the logistics arm of Capital A (formerly AirAsia Group) officially launched Teleport Pink today – a next-day international parcel delivery that allows customers in Kuala Lumpur to send anything to Singapore at a flat rate of RM40.
Teleport Pink was created to meet consumers’ increasing demand for next-day cross border delivery at a fixed shipping rate that is up to 80 per cent lower than other delivery service providers in the market.
Teleport Pink will be rolled out in phases, starting with specific areas within Kuala Lumpur to Singapore, followed by a series of new destinations in 2023, which will include expansion of service coverage area into other parts of Kuala Lumpur as well as other key Southeast Asia destinations, such as Bangkok, Jakarta and Manila. 
In conjunction with the launch of Teleport Pink, roadshows will be taking place in key areas around the Klang Valley. Customers will be able to enjoy free delivery to Singapore for the first parcel during the launch campaign period, when they use the code “PINKFREE.” 
Teleport Pink parcel bags can be purchased at selected myNEWS outlets, partnered co-working spaces like Common Ground, WORQ and Co-labs and vending machines across key locations like Sunway Pyramid and Lot 10.
For more details visit our website at www.teleportpink.com or visit our social media pages @TeleportPink.

Signature Market Rings In The Festive Season 

Kuala Lumpur, Dec 1: This festive season, Signature Market has put together Christmas and Chinese New Year gift bundles perfect for celebrating the holidays with the family.
The brand has also curated a series of corporate workshops targeted towards companies looking to explore different ways for teams to spend time together bonding and learning new skills. In addition to this exciting line-up, Signature Market will also offer corporate gifting options for businesses that include products dedicated to enhancing mental and physical wellbeing.
According to insights from Meta, Southeast Asian markets have seen a significant shift from consumers in this post-pandemic era.
Consumers are slowly becoming more value-conscious about their purchases – preferring brands that offer integrated shopping experiences and better brand engagement as opposed to mechanical online experiences.
Knowing these trends and ever focused on innovative evolution, Signature Market will focus the next year on building a progressive e-commerce brand with improved values for better outcomes.
For those celebrating Chinese New Year, consumers can look into different sets of gift bundles that include a variety of Signature Market snacks, perfect for healthy snacking.
Priced from as low as RM68, the gift bundles are curated to suit every palate, preference, and budget which is made to be enjoyed with good company.
The brand will also offer corporate bundles for Christmas and Chinese New Year starting at RM30.

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