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 Jan 9 till the end of the week. This column updates regularly throughout the week.

MGRCB Collaborates With Sirim

Malaysian Genomics Explores R&D Collaboration With SIRIM. Supplied.

Petaling Jaya, Jan 9: Malaysian Genomics Resource Centre Berhad announced a strategic cooperation with SIRIM Berhad (“SIRIM”), to explore the commercialisation of joint research and development (“R&D”) projects in the medical and biotechnology fields.
SIRIM Berhad is wholly owned by the Malaysian Government, and is focused on R&D, standardisation and quality.
The organisation acts as a catalyst for industrial development through programmes involving technology and standardisation.
Under the strategic cooperation, both parties will evaluate the potential commercial value of a range of genomics-driven biotechnology R&D projects. These include developing biofuels and biopharmaceuticals, companion diagnostic tests for cancer treatment, and bioactive cosmeceuticals.
The parties of this two-year strategic collaboration will also jointly source for suitable private and public institutional partners for the funding and commercialisation of these projects.

MR D.I.Y. Premieres ‘The Rude Girl’ This CNY

Kuala Lumpur, Jan 9: MR D.I.Y., Malaysia’s favourite home improvement retailer, today launched its Chinese New Year [CNY]-themed webfilm, titled “The Rude Girl”. 
The four-minute film depicts a young woman named Emily, who has just moved into a  new apartment. 
Her neighbours make friendly overtures trying to get to know her, but she ignores them, giving the impression of being rude. 
The narrative then takes a turn when tragedy strikes her next-door neighbour – the elderly resident’s stove catches fire and quickly spreads through the apartment.  Noticing the smoke, Emily uses all her might to break into the apartment, managing to save her elderly neighbour. Sadly, she is overcome by smoke and faints when she goes back in to try and put out the fire. 
When she wakes up in hospital, her neighbour visits to thank Emily for saving her life, praising her bravery. Being deaf, Emily is not able to hear what she is saying, so she uses her mobile phone to explain her predicament.  Her neighbour is contrite on hearing the news, and the misunderstanding is immediately cleared up. 
The film ends with Emily’s neighbours throwing a memorable CNY gathering, and showing their appreciation of her efforts using sign language. 
Don’t miss this heartwarming tale, which has just been launched on MR D.I.Y’s official Youtube, Facebook, Instagram, and Tiktok platforms. 
Watch the full version here.

Bintai Kinden Ventures Into Digital Assets 

Petaling Jaya, Jan 10: Bintai Kinden Corporation Berhad, a mechanical and electrical engineering services specialist, is venturing in digital assets through wholly-owned subsidiary Bintai Trading Sdn Bhd as part of the Company’s treasury management while taking into consideration longer-term needs in business expansion.
As part of this initiative and to take into consideration the longer-term needs, BTSB has an account with a digital currency exchange licensed by the Securities Commission Malaysia. 
“This is also part of our treasury management as we need to ensure cash flow to manage our daily operations while taking into consideration our longer term needs and strategies involving the M&E business. We will continue to seek opportunities in Malaysia and neighbouring countries to expand.”
According to Coinbase Global Inc. ‘s 2023 Crypto Market Outlook published in Dec 2022, a flight to quality among institutional investors, creative destruction that will eventually lead to new opportunities and; foundational reforms that usher in the next cycle, are the key themes for the year.
The Coinbase report noted that the coefficients that led to the high, positive correlation between Bitcoin and Ethereum versus US stocks have trended lower since May 2022 and expects investors to select higher-quality cryptocurrencies based on factors such as sustainable tokenomics, maturity of ecosystems and relative market liquidity.
A survey sponsored by Coinbase, the “2022 Institutional Investor Digital Assets Survey,” conducted between Sept 21 and Oct 27, 2022 among 140 institutional participants, revealed that 53.6 per cent expect cryptocurrency prices to remain range-bound over the next 12 months versus 29.3 percent who expect prices to trend lower while 7.9 per cent expect prices to trend higher and 9.3 per cent expressed no opinion on where prices will move.

Zoomcar New Appointment

Zoomcar announces appointment of Ashu Singhal as Chief Technology & Product Officer.

Bangalore, Jan 10: Zoomcar, the leading marketplace for car sharing in emerging markets, today announced the appointment of Ashu Singhal as their Chief Technology & Product Officer.
Ashu in his new role will be overseeing the overall product strategy and engineering execution to deliver great customer experience across all the markets where Zoomcar operates.
Ashu is directly responsible for product vision & strategy, product design, product development, product marketing, user research and analytics functions.
Before joining Zoomcar, Ashu headed the Fulfilment and Marketplace team at Grab Holdings Inc. (Nasdaq: GRAB), a Nasdaq listed application-based transportation, grocery, food, and parcel delivery services platform.

KL Wellness City On Track 

Kuala Lumpur, Jan 10: Following the opening of borders in April last year, the Medical Tourism industry  has recorded RM 726 million of revenue as of Q3 2022 and is on the way to achieving its RM1 billion target for 2022. 
It was projected that the sector will bring in RM2 billion annual revenue in 2025.
In line with projections, purpose-built township KL Wellness City (KLWC), aims to drive medical tourism in Malaysia  through its vision of a 360-degree wellness hub centered around its township which encompasses all aspects of  medical care, health, wellness, fitness, and business, complete with residential, retail, and commercial offerings. 
KLWC is a city dedicated to healthcare and wellness living at its core.
As the first real estate development in South East Asia to pioneer a comprehensive ecosystem of healthcare and wellness-centric living, KLWC is targeted to  become a hub for local and international medical tourism.
For tourists and visitors local and abroad, KLWC will  position Malaysia as the ideal location in the South East Asia region to travel and visit, in addition to indulging in an  environment of the best healthcare and wellness facilities designed for better living.

Sophos Ranked Top

Kuala Lumpur, Jan 11: Sophos, a global leader in innovating and delivering cybersecurity as a service, today announced that its Sophos Intercept X Advanced with XDR solution has been named the top-ranked and sole leader in the Omdia Universe report for comprehensive extended detection and response (XDR) solutions.
The global research company ranked Sophos’ product the highest in nearly all capabilities categories – excelling above competitive offerings with industry-best threat response, deployment, management, pricing, and licensing – with Sophos Intercept X Advanced with XDR delivering “a dominant showing in Threat Response and Resolution, an area in which other solutions were underwhelming.”
According to Omdia’s analysis in the report, “Sophos should appear on organizations’ shortlist if they are in search of an enterprise-grade solution with intuitive usability across the board, when superior threat remediation with automated response actions for common scenarios is needed and if straightforward pricing and licensing are important, plus support from Sophos and its partners.”
Sophos Intercept X with XDR combines anti-ransomware technology, deep learning artificial intelligence, exploit prevention, and active adversary mitigations to stop attacks. All Sophos offerings are powered by threat intelligence from Sophos X-Ops, a cross-operational task force linking SophosLabs, Sophos SecOps and SophosAI, and are easily managed in the cloud-native Sophos Central platform or by Sophos Managed Detection and Response, a 24/7 managed detection and response (MDR) service used by more than 13,500 organizations.
Sophos recently added the ability to integrate vendor agnostic telemetry from third-party security technologies into its MDR service, providing unprecedented visibility and detection across diverse operating environments. The same vendor agnostic telemetry integrations will be available in the Sophos Intercept X Advanced with XDR in 2023.
The Omdia Universe is Omdia’s flagship comparative research vehicle. It is a vendor assessment approach designed to educate and inform the plethora of technology decision makers and end-users that engage with the broad Informa Tech portfolio. 

Touch ‘n Go eWallet And Fave Partner Up

Kuala Lumpur, Jan 11: Fave, Southeast Asia’s smart payments app, has announced its partnership with TNG Digital Sdn Bhd (“TNG Digital”) owner and operator of Touch ‘n Go eWallet, and the launch of the Fave Loyalty Programme within Touch ‘n Go eWallet. Through the partnership with Fave, Touch ‘n Go eWallet users can now scan any Fave DuitNow QR, and earn up to 15 per cent cashback across 17,000 F&B outlets and retailers. Participating outlets include Subway, Auntie Anne’s, San Francisco Coffee, Puma, Clarks and more. 
The new service will create an easy, quick and rewarding digital payment experience on one platform.
More than 18 million Touch ‘n Go eWallet users will be able to earn cashback every time they pay for purchases by scanning the Fave-issued DuitNow QR code with a Touch ‘n Go eWallet scanner and deduct it from the payable amount upon the next purchase. Users will also be able to link their Fave account and import all cashback, view and use the cashback for their purchases to create a unified experience and maximize their savings. 
The partnership reinforces how Fave’s vision aligns with Touch ‘n Go eWallet’s in providing a seamless and convenient mode of payment while rewarding a new generation of smart consumers in their day-to-day transactions.
Merchants will now have access to more than 18 million Touch ‘n Go eWallet users nationwide via the Fave DuitNow QR and extend their loyalty cashback to more customers, reconciling them under one FaveBiz platform.
From Jan 7 until March 31, Touch ‘n Go eWallet users who make a purchase by scanning a Fave DuitNow QR code with the Touch ‘n Go eWallet scanner will receive an additional 10 per cent discount (capped at RM2) on top of the Fave Partner Cashback.
Users can also collect Touch ‘n Go eWallet’s The Goal Hunter Campaign stamps for every transaction of RM10 and above throughout the campaign period. 

Minetech Awarded RM36.71 Million Mini-Hydro Project 

Minetech Awarded RM36.71 Million Mini-Hydro Project. Supplied.

Kuala Lumpur, Jan 11: Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer today announced that the Company’s wholly-owned subsidiary, Techmile Resources Sdn Bhd (“TRSB”), has accepted a letter of award (“LOA”) from Tesdec Hydropower Sdn Bhd (“Tesdec Hydropower”) for the engineering, procurement, construction and commissioning (“EPCC”) of a 3MW mini-hydro power plant at Sungai Pelagat, Besut, Terengganu valued at RM36.71 million.
The project, which is expected to commence in January 2023, followed by construction in 2025, is expected to be completed by May 2027, comes under the Sustainable Energy Development Authority’s (“SEDA”) feed-in-tariff (“FiT”) programme in which businesses or individuals that hold SEDA’s feed-in approval certificate can sell RE at the FiT rate to distribution licensees such as Tenaga Nasional Berhad. 
TRSB provides EPCC as well as maintenance, repair and overhaul (MRO) services for the energy industry. Tesdec Hydropower is a sub-subsidiary of Tesdec Berhad (“Tesdec”) through its subsidiary, Tesdec Services Sdn Bhd. Tesdec is wholly-owned by the Terengganu government while Tesdec Hydropower is principally involved in renewable energy (“RE”) activities, development and facilities in the state.
The LOA signing ceremony was held at Primula Beach Hotel, Kuala Terengganu and was witnessed by Terengganu Menteri Besar, YAB Dato’ Seri Dr. Ahmad Samsuri bin Mokhtar and Executive Chairman of Minetech, Dato’ (Dr). Ts. Awang Daud bin Awang Putera. Executive Directors, Ts. Azlan Shah bin Zainal Arif and Mr Matt Chin signed on behalf of TRSB while Directors, Ir. Rosdan bin Ismail and Ts. Shahidan Izham bin Yeop Ibrahim, signed for Tesdec Hydropower.

Barry Callebaut Opens In Malaysia 

Petaling Jaya, Jan 11: Barry Callebaut, the world’s leading manufacturer of high-quality chocolate and cocoa products, today announced the official opening of its Asia Pacific Business Excellence Center (APAC BEC) located in Petaling Jaya, in the Greater Kuala Lumpur area, Malaysia. 
The APAC BEC will function as a center of excellence, providing support across the company’s financial and accounting services, information management and technology, customer service, and other corporate and shared service functions.
The Center will also help to improve customer experience through standardization and scalability of processes.
The new APAC BEC in Malaysia represents a significant investment by Barry Callebaut in Malaysia and builds on more than 30 years of successful presence in the country.
At present, Barry Callebaut employs more than 600 employees across its two manufacturing sites and R&D centers in Pasir Gudang and Port Klang. In addition to that, the APAC BEC has already over 100 employees and it aims to scale up to 150 in the coming months.

SCIB Proposes Private Placement

SCIB Proposes Private Placement to Raise Up to RM10.98 Million.

Kuching, Jan 11: Civil engineering specialist Sarawak Consolidated Industries Berhad (“SCIB” or the “Company”) is proposing a private placement to raise gross proceeds of up to approximately RM10.98 million for working capital, repayment of bank borrowings and estimated expenses for the proposed private placement.
While the issue price and the actual number of shares to be issued will be determined later, under the maximum scenario in which all the Company’s 245.18 million outstanding warrants are exercised, the proposed private placement will entail the issuance of up to 82.72 million placement shares at an indicative price of RM0.1327 per placement share to raise gross proceeds of up to approximately RM10.98 million. Under the minimum scenario, should none of the outstanding warrants be exercised, then gross proceeds raised will be RM7.72 million.
The proposed issuance represents not more than 10 per cent of the issued shares as at the latest practicable date (“LPD”) of 30 December 2022 while the indicative price per share represents a discount of approximately 9.97 per cent to the five-day volume weighted average market price of SCIB shares up to the LPD of RM0.1474.
The proposed private placement may be implemented in several tranches within six months of approval from Bursa Securities Malaysia Berhad or any extended period approved by it until the conclusion of the next AGM. The proposed private placement is undertaken in accordance with the approval obtained from the shareholders of the Company at the 46th AGM convened on Dec 8, 2022.

Chronic Pain ‘Coaches’ New Approach 

Adelaide, Jan 12: Chronic pain affects millions of people worldwide and is a leading cause of disability and healthcare use.  
A new study led by Flinders University has shown that timely, affordable, integrated and individualised support options can help people living with chronic pain to improve their self-management and understanding of the ways they can better manage their pain.  
A novel telehealth program developed by Flinders University and SA Health experts shows the potential for non-mental health professionals – in tandem with medical and allied health experts – to help those living with chronic pain get access to support that can make a difference and reduce suffering. 
It also provides access to care and support for people living outside of metro areas who may have to wait years to see a pain specialist, says Flinders University Behavioural Health expert Paula Redpath, from the College of Medicine and Public Health. |
A pilot study of the ‘Rethinking Pain’ guided self-help program in South Australia proved a promising model for specialised information and support delivered by supervised ‘coaches’ who worked with people with chronic pain to increase their understanding of their condition and improve their self-management.   

Spritzer Ecopark Transformed

Kuala Lumpur, Jan 12: Say goodbye to the snowy white winter wonderland and hello to the colourful florals of spring as SPRITZER (the “Company”) ushers the Year of the Rabbit by transforming Spritzer EcoPark through their creative use of Spritzer bottles repurposed to welcome the lunar new year traditions with a modern flare.
Be greeted by a striking 28-foot tree partially created from thousands of recycled Spritzer bottles while walking through a garden of eye-popping playful pink and radiant red peonies signalling the coming of spring from now to Feb 5, including New Year Day itself on Jan 22.
Ring in the Year of the Rabbit celebrations with Spritzer as a traditional lion dance will be held on Jan 26 to bring good luck and fortune for the auspicious new year.
All are welcome and admission is free.
Visitors who spend at least RM10 at the souvenir shop and water shop will receive Spritzer angpow packets.

Bitcoin Market Endured Capital Loss

London, Jan 12: According to StockApps.com, Bitcoin investors suffered a capital loss of $213 in 2022, 47 per cent of bull market gains in 2020-21.
Edith Reads, a specialist from BitcoinCasinos, commented on the report. “The market crash was a reminder that Bitcoin is still an incredibly volatile asset. While some investors may have been able to make huge profits in the bull run of 2020-21, they were just as quickly wiped out in 2022. This highlights the importance of diversifying investments and using proper risk management techniques.”
When it comes to Bitcoin, investors need to be extra careful. Digital currency is notoriously volatile, and big losses can happen in a very short period. To protect themselves from such losses, investors need to do their research and only invest what they can afford to lose. The full story and statistics can be found here: Bitcoin Market in 2022 Endured a 47% Capital Loss Following Its 2020-21 Bull Run.

Gold Hydrogen Commences Trading On ASX 

Sydney, Jan 13: The Directors of Gold Hydrogen Limited (ASX: GHY) (the Company) wish to advise that the Company  has been admitted to the official list of the ASX with the quotation of the Company’s securities to  commence at 11:00am AEDT on Jan 13, 2023.
The Company successfully raised gross proceeds of $20m via the issue of 40 million fully paid ordinary  shares at an issue price of 50 cents each. The oversubscribed IPO raising was fully underwritten by  Morgans Corporate Limited.
Gold Hydrogen is chaired by the Right Honourable Alexander Downer, who was the sitting member  for the federal seat of Mayo in South Australia from 1984 to 2008. The seat of Mayo is within the  Company’s granted and application tenure footprint. 
‘’To know we have the support of so many  people in the hunt for low carbon energy sources, and that the search starts in my own state, is  incredibly humbling. This is an Australian first, and very exciting for South Australia and Australia,”Downer said.
We need real solutions to decarbonize in ways that keep the lights on, and innovators like Gold  Hydrogen will be essential to those goals.’’ 

Sabah Tourism Latest Accolade 

Sabah Tourism bags first award for 2023.

Petaling Jaya, Jan 13: Sabah Tourism Board bagged the bronze award for the Transportation, Travel & Tourism category at the 2022 Putra Aria Brand Awards held at One World Hotel, Petaling Jaya.
Sabah was also the only destination nominated at the award ceremony.
The Aria Brand Awards is organized by the Accredited Advertising Agents Malaysia (4As) and is also labeled as the People’s choice awards as it undergoes the same research methodology as the Putra Brand Awards, with over 25,000 survey responses across Peninsula and East Malaysia.
The survey was conducted in eight long weeks of survey from September to November last year where consumers would rate the brands based on various criteria such as familiarity and experience.
In total there were 36 brands taking home the gold, 48 won silver, while 52 obtained bronze. Among the award recipients that night are Shangri-La Hotels and Resorts, Firefly Airlines, New Straits Times, Berita Harian, Coca – Cola and Asus. 

Radium Development New Launch

 Radium Development Launches Prestigious Suites.

Kuala Lumpur, Jan 14: Radium Development Berhad, “Radium”,  launched its latest project, the R Suites Chancery Residences, “Chancery”, with a gross development value of RM521 million, at Ampang City Centre, Kuala Lumpur.
Chancery is set to be completed by the fourth quarter of 2027, offering discerning local,  regional and international buyers an investment opportunity in Malaysia’s city centre’s  growing property market with a range of facilities and amenities to meet the needs of  the new business and investment segmentations.
The 51-storey development sits on a 2.18-acre plot of prime freehold land in Ampang  City Centre, Kuala Lumpur, surrounded by an established commercial and residential  neighborhood.
It comprises 944 residential suites, commercial spaces, exclusive  facilities and amenities, as well as a 145-room hotel, managed by a renowned,  established independent KL-based hotel brand.
With a focus on multifunctional living spaces, Chancery’s residential suites range in size  from 452 square feet to 861 square feet, priced between RM455,000 to RM867,000.

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