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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 we received from Feb 27 till the end of the week. This column updates regularly throughout the week.
PT Resources Signs MoU
Kuala Lumpur, Feb 27: PT Resources Holdings Berhad, a processor and trader of frozen seafood products, and trader of other food products, is pleased to announce that the Company has signed a memorandum of understanding (“MoU”) with Ocean Exchange (Fujian) Foreign Trade Services Co. Ltd (“Ocean Exchange”) to establish cooperation between the two parties for the joint development of the Malaysia East Coast International Supply Chain Intelligent Park, which is inspired by the Marché International Cold Logistics and Cross-border E-commerce Project (“Fuzhou Park”) located in Fujian province, China.
The project, which facilitates bilateral trade between Malaysia and China through Fuzhou, China is estimated to be worth RMB1.562 billion (or approximately RM1 billion).
The project involves the establishment of an International Supply Chain Intelligent Park in Kuantan, Pahang, which is intended to drive the development of food and light industries supply-chain between Malaysia and Fuzhou with the aim of rapidly achieving currency internationalization between the two countries.
The International Supply Chain Intelligent Park will encompass amongst others, integrated cold chain facilities to facilitate cross-border supply of consumer food as well as establish a digital financial platform utilising the UnionPay network to streamline and facilitate effortless cross-border payments and settlements between the International Supply Chain Intelligent Park and Fuzhou Park.
In addition, the project also aims to boost the trade between the Malaysian seafood wholesale market and China through digital transformation, whilst collaborations with cold chain logistics companies will be initiated to facilitate an integrated logistics supply chain.
Mimecast Publishes Seventh Annual Report
Kuala Lumpur, Feb 27: Mimecast, an advanced email and collaboration security company, today announced the publication of its annual “The State of Email Security 2023” (SOES) report.
The global survey is based on responses from 1,700 IT and security decision-makers, providing readers with key takeaways on the current threat landscape and offering recommendations to help organisations improve their cybersecurity posture.
Download the full report to learn more and stay tuned to the Mimecast blog Cyber Resilience Insights.
Dispersed Workforce Here To Stay
Sydney, Feb 27: Soaring living costs, inaccessible housing markets and years of remote working have driven a major shift in people’s interest in relocating, according to research by leading payroll and HR services company ADP.
The People at Work: A Global Workforce View survey found that nearly half (45 per cent) of Australian workers either want to relocate within Australia, or are already in the process of doing so.
Additionally, 40 percent of respondents were planning or in the process of moving overseas.
Exposure to working from home was an important influence on whether people wanted to relocate, with those who worked from home (58 per cent) being almost three times more likely than those who were not (20 percent) to want a sea or tree change.
“The last few years have given some employees the confidence that remote work is viable for them. This has opened up a plethora of opportunities to relocate and pursue a better quality of life, affordable housing, and new job opportunities,” Kylie Baullo, Managing Director ANZ at ADP said.
“The pandemic changed workers’ expectations and we are seeing an increased need for employers to provide a better work-life balance to retain and attract top talent,” Baullo said.
Check myGov Account For Unclaimed Super
Sydney, Feb 27: There is $16 billion in lost and unclaimed super across Australia, new data from the Australian Taxation Office (ATO) reveals.
This is an increase of $2.1 billion since last financial year and the ATO is urging Australians to check their account to see if some of the money is theirs.
Deputy Commissioner Emma Rosenzweig said finding lost or unclaimed super is easy and can be done in a matter of minutes.
“Super is one of the most important investments many Australians will have during their lifetime, which is why we want to reunite hard working Australians with what is rightfully theirs.
“When it comes to protecting your financial future, every bit counts,” Rosenzweig said.
Malaysian Genomics to Boost Play on the Football Pitch
Petaling Jaya, Feb 27: Malaysian Genomics Resource Centre Berhad, a genomics and biopharmaceutical specialist, is collaborating with KL City FC Sdn Bhd, the manager of the KL City FC football club, on the deployment of the Group’s genetic screening tests for peak athletic performance.
The collaboration will see the Group conducting analyses of players’ DNA and providing consultations to players and coaching staff on the genetic results in relation to practical opportunities to improve sports physiology, nutrition, strength and conditioning, injury prevention, and recovery.
KLCFC will share with the Group feedback related to the results and outcomes of modifications to its team’s existing training, nutrition and recovery protocols after the incorporation of genetic results.
SCIB Posts Higher Revenue of RM66M in 1H FY2023
Kuching, Feb 27: Civil engineering specialist Sarawak Consolidated Industries Berhad (“SCIB” or the “Company”) today announced that the Group’s revenue increased by 2.6 per cent to RM66.3 million for the six months ended 31 December 2022 (“1H FY2023”) compared with RM64.6 million registered in the corresponding period of the previous financial year (“1H FY2022”).
The Company recorded a narrower loss before tax (“LBT”) of RM3.7 million in 1H FY2023 compared with LBT of RM4.0 million in 1H FY2022.
For the second quarter ended 31 December 2022 (“2Q FY2023”), the Company’s revenue decreased 5.6 per cent to RM 36.0 million compared with RM38.1 million in 2Q FY2022, while LBT widened to RM2.8 million compared with RM1.3 million reported in 2Q of the previous financial year.
Revenue contribution from the manufacturing business increased 6.9 per cent to RM45.7 million in 1H FY2023 compared with RM42.8 million in 1H FY2022, while revenue contribution from the engineering, procurement, construction, and commissioning (“EPCC”) business decreased marginally to RM20.2 million compared with RM21.4 million. For 2Q FY2023, the manufacturing business contribution to revenue decreased to RM21.6 million compared with RM23.7 million in 2Q FY2022, while EPCC business revenue contribution remained stable at RM14.0 million.
As of January 2023, the Company has an order book of RM387.96 million with earnings visibility until 2026.
Alibaba Reaffirms Commitment to Driving Digital Economy
China, Feb 27: The Alibaba Global Digital Talent (GDT) program last week brought together representatives of its partner educational institutions worldwide in a hybrid conference, reaffirming its commitment to driving digital economy education globally. The first GDT event of its kind since the pandemic outbreak, the conference showcased the latest learnings and achievements of the GDT program in promoting academic exchanges and talent incubation for global digital transformation and inclusive development, while also shining a spotlight on outstanding institutions, lecturers and students in the program’s network.
Open to universities and learning institutions all over the world, GDT is a flagship training program under the electronic World Trade Platform (eWTP) initiative pioneered by Alibaba Group, which strives to create equitable access to cross-border trade opportunities for youth, small and medium-sized enterprises (SMEs) and women globally. It is also part of Alibaba’s talent incubation endeavor to promote inclusive development in the digital economy.
By providing educational institutions with teacher training and networking opportunities, the GDT program helps incubate the institutions’ own qualified trainers who are capable of nurturing the next generation of digital talent in their respective markets, based on a curriculum framework that covers various components of the digital economy such as New Retail, smart logistics, digital marketing, and start-up investment and financing. Its training courses leverage learnings from the development of China’s digital economy and taps into resources and best practices in the Alibaba Ecosystem. GDT also supports institutions in its network with student training and examination platforms as well as student certification.
Amway Registers Record Revenue at RM1.5B
Petaling Jaya, Feb 28: Amway Malaysia Holdings Bhd posted a new record- high revenue of RM1,514.8 million for the financial year ended Dec 31, 2022, up 1.9 per cent from RM1,485.9 million achieved in the previous financial year.
The increase in revenue was mainly driven by strong demand for health and wellness as well as personal care products.
The Group’s profit before tax (PBT) recorded a stellar growth of 107.3 per cent to RM 103.1 million compared to RM49.7 million in FY2021.
The year’s PBT was primarily driven by price adjustments and normalized sales incentives for Amway Business Owners (ABOs).
During the pandemic years of 2020 and 2021, ABOs incentives increased significantly due to hyper sales growth. However, with sales growth returning to moderate levels in the last year, investment in these incentive expenditures have normalized.
The Group paid three single-tier interim dividends of 5.0 sen net per share amounting to RM 24.7 million.
In addition, the Group has declared a fourth single-tier interim dividend of 5.0 sen net per share and a special single-tier interim dividend of 18 sen net per share amounting to RM37.8 million on Feb 27.
For FY2022, the Group made a total dividend payout of 38 sen net per share amounting to RM 62.5 million – higher than the total payout of 24.0 sen net per share amounting to RM39.5 million paid in FY2021.
Bintai Kinden Posts 9M Revenue
Petaling Jaya, Feb 28: Bintai Kinden Corporation Berhad, a mechanical and electrical engineering services specialist, today announced that the Company recorded 60.8 percent gain in revenue to RM93.80 million for the nine months ended 31 December 2022 compared with RM58.34 million in the corresponding period of the last financial year.
The Company reported a loss before tax in 9M FY2023 of RM2.22 million compared with profit before tax of RM2.62 million in 9M FY2022.
For the third quarter ended 31 December 2022 (“3Q FY2023”), revenue decreased 22.7 per cent to RM 22.36 million compared with RM28.93 million in 3Q FY2022.
The Company recorded LBT of RM3.38 million for 3Q FY2023 compared with PBT of RM1.13 million in 3Q FY2022.
TNB recently awarded a total of RM53.2 million in M&E contracts to the Company for the installation of underground cables, bringing the total unbilled orderbook to RM 142.95 million.
Leon Fuat Records Revenue of RM1.03B
Shah Alam, Feb 28: LEON FUAT BERHAD, a manufacturer and trader of steel products specialising in rolled long and flat steel, today announced that the Group reported a 15.6 per cent increase in revenue to RM1.03 billion for the financial year ended 31 December 2022 (“FY2022”) compared with RM886.58 million recorded for the preceding financial year (“FY2021”).
For the financial year under review, the Group reported a profit before tax (“PBT”) of RM36.92 million, a 78.6 percent decrease compared with RM172.85 million for FY2021.
For FY2022, the Group registered profit after tax (“PAT”) of RM29.54 million, a 78.3 percent decrease compared with RM135.98 million for FY2021.
The Group reported revenue of RM238.15 million for the fourth quarter ended 31 December 2022 (“Q4FY2022”), which is a 6.3 percent decrease compared with RM254.21 million reported for the corresponding quarter of the preceding financial year (“Q4FY2021”).
For the Q4FY2022, the Group recorded a loss before tax of RM7.49 million compared with PBT of RM38.61 million registered for the Q4FY2021 while a net loss of RM5.14 million was reported for the Q4FY2022 as compared with PAT of RM29.09 million recorded for the Q4FY2021.
For the quarter under review, the trading segment contributed 32.7 per cent to revenue while the processing segment contributed 67.2 per cent.
LaunchVic Announce New Pre-Accelerator Funding
Melbourne, March 1: The next generation of women entrepreneurs will get the startup support they need with a new grant round from LaunchVic, Victoria’s startup agency, announced today.
Grants of up to $300,000 are now available for organisations to run pre-accelerator programs that equip women founders with the advice, support and networks required to build a minimum viable product and find their first customer.
LaunchVic’s soon to be released Ecosystem Mapping Report shows one-third of Victorian startups now have at least one woman founder, up from 20 per cent in 2020.
However, LaunchVic CEO Dr Kate Cornick said the figure was still outpaced by the growth of male-only firms, suggesting further support is needed for women-led startups at those crucial early stages.
Applications for the grants are open to local and international programs looking to support women in Victoria.
For more information, go here.
Sabah Welcomes 140 Passengers From Guangzhou
Kota Kinabalu, March 3: Sabah welcomes 140 passengers from Guangzhou today (March 2), marking the first direct flight from China since the pandemic.
The passengers arrived at Kota Kinabalu International Airport at 5.30am, on an AirAsia flight.
Sabah Assistant Minister of Tourism, Culture, and Environment cum Sabah Tourism Board (STB) chairman Datuk Joniston Bangkuai was on hand to greet them.
He was accompanied by the Ministry’s Permanent Secretary, Datuk Sr. Mohd Yusrie Abdullah, Chinese Consul General in Kota Kinabalu Huang Shifang; and STB chief executive officer Noredah Othman.
The low-cost Air Asia is also scheduled to fly passengers from Shenzhen to KKIA tomorrow (March 3).
Sabah anticipated the arrival of Chinese visitors earlier this year, but a holdup in issuing passports to Chinese citizens delayed the travel process.
“We are thrilled to have Chinese visitors back, and we hope our industry players will continue to provide exceptional hospitality services to our guests,” Bangkuai said, adding that China is a key and important market for Sabah.
Sabah anticipates an influx of Chinese tourists in the coming months with the expected mounting of direct flights from several cities in China.
Prior to the pandemic, China was Sabah’s leading international visitor source, with 598,566 Chinese visitors recorded in 2019.
FEV3R Partners With MyWave
Kuala Lumpur, March 1: FEV3R, a healthtech company that delivers affordable e- patient services through a healthcare-as-a-service platform, has inked a deal with MyWave Sdn Bhd, a human resource (HR) consulting company, to provide a holistic approach towards HR and healthcare for employees.
MyWave’s flagship product EmplX, is an integrated HR and Payroll system that covers end-to-end transaction processing.
Similar to FEV3R, EmplX provides a subscription-based end-to-end model for clients that are affordable and digitally seamless.
Together, both companies aim to help businesses reduce their overall HR and healthcare administration overheads.
FEV3R Chief Executive Officer Adlan Hercus said at FEV3R, affordability and availability are important pillars in its business proposition.
“We believe through this partnership with MyWave, we can provide a more holistic approach for employers, combining HR, payroll and medical needs. EmplX and FEV3R products are
positioned very affordably, and together, we hope to offer employers the most affordable deal in
the market.
“FEV3R’s unique subscription model will help significantly reduce the cost of primary care and administration burden and fits well with their business automation applications,” he said.
Alpro Pharmacy joins hand with Petronas and Geng Plastic Ija
Kertih, March 1: Recently, Malaysia’s largest pharmacy chain, Alpro Pharmacy teamed up with Petronas Penapisan (Terengganu) Sdn Bhd and Geng Plastik Ija (GPI) to carry out plogging activity at Pantai Rantau Laut, Kertih.
More than 1,025 kg of litter was picked up from the 1km beach by 85 volunteers. This also marks the inauguration of the partnership between GPI and Alpro Pharmacy, in which both parties share similar values in ensuring a clean and safe environment.
While most of the trash collected were plastic bottles which will be sent for recycling, Ph. Ryan Ho Zheng Chuan from Alpro Pharmacy Kemaman shared with participants that not all pollutants to our environment could be seen by the naked eye.
For example, there have been reports of contraceptive medicine which have been irresponsibly discarded causing sterilisation of fishes in the ecosystem.
In Malaysia, 99 per cent of the water supply for domestic use deriving from surface water such as streams and rivers, and The World Economic Forum’s research has shown that the concentration of pharmaceuticals in waterways is reaching dangerous levels, therefore, Alpro Pharmacy has placed dedicated medication disposal bins at all 200+ Alpro outlets nationwide to collect excess medicines to be disposed ethically without polluting the environment.
Steam Locomotive Returns To Life
Sydney, March 2: A 120-year-old steam locomotive will be officially relaunched at a special ceremony to take place at the NSW Rail Museum today, following an extensive three-year restoration.
Transport Heritage NSW CEO, Andrew Moritz, said Locomotive 3001 was originally one of 145 ‘S class’ tank engines built in the UK for Sydney’s expanding suburban rail network.
With the advent of electric trains in the 1920s, the S class were converted to full size steam locomotives, seeing 3001 take on a whole new career working passenger and freight trains in regional NSW.
The locomotive will haul steam train rides every Saturday & Sunday at the NSW Rail Museum throughout 2023, including at the State’s premier steam event – the Thirlmere Festival of Steam on 18 and 19 March.
CULT Car Show Return In November
Kota Kinabalu, March 2: Sabah’s homegrown Cars and Urban Lifestyle Trends (CULT) event is coming back, and this time it is expected to draw an even larger crowd.
CULT event director Azlin Awang Chee said this year’s car show would be held on November 10-12, with the goal of attracting 30,000 visitors and car enthusiasts.
The Sabah International Convention Centre (SICC), where the first show was held last year and over 600 custom vehicles were displayed, would again serve as the exhibition’s venue.
Azlin, alongside CULT promotion director John Kong, paid a courtesy call to Sabah Tourism Board (STB) chairman Datuk Joniston Bangkuai on Thursday to brief him on the second edition of CULT Carshow.
Transform Your Home With Hisense
Petaling Jaya, March 2: Hisense, a leading electronics and home appliance brand in the region, is thrilled to announce its latest campaign, “Riang Ceria Harley Raya“ just in time for the upcoming Raya celebrations.
Available from March 13 – April 30, the Hisense Raya Campaign brings together the latest technology with innovative design and top-quality performance for customers to enjoy the ultimate home entertainment experience.
All Hisense appliances featured under the promotion will be available at affordable prices, where customers who purchase each single Hisense product worth RM1,999 and above can register to redeem free gifts and are automatically eligible and entitled for one (1) Riang Ceria Lucky Draw entry.
This is the chance for customers to enjoy free gifts and get the chance to win the lucky draw grand prize of Honda Dash 125 motorcycle!
Hisense recognises the importance of the kitchen as a social hub during Ramadan and part of their campaign is one of their latest products, the Pureshine Series Inverter Refrigerator.
This sleek fridge boasts an advanced multi-airflow technology that ensures even distribution of cool air, guaranteeing that food stays fresh and crisp for longer.
It also features a luxurious glass door finish that adds a touch of luxury and sophistication to any kitchen to make the Ramadan festivities truly unforgettable.
This campaign features great deals nationwide for items such as sleek and stylish refrigerators, a wide selection of smart TVs to elevate the entertainment experience, washing machines that boost efficiency, and air conditioners that help keep cool and comfortable.
Alibaba Global E-Commerce Challenge Open for Applications
Hangzhou, March 2: Alibaba Group recently launched the 2023 Alibaba Global E-Commerce Challenge to identify young talent for the future of its international e-commerce operations.
The competition is open to university students around the world who are interested in tackling day-to-day e-commerce business challenges with innovative solutions.
Candidates will have an opportunity to receive coaching from dedicated Alibaba mentors, while also standing a chance to gain awards and job opportunities in Alibaba’s Global Digital Commerce (GDC) unit.
To register for the competition or find out more about the entry requirements, please visit
www.alibabagec.com.
IKEA Announces Nature-Positive Policy
London, March 2: Canopy and IKEA are pleased to announce that they are joining forces to keep Ancient and Endangered Forests out of the viscose supply for home textiles and to work toward supply chain transformation.
By joining the CanopyStyle initiative, IKEA is continuing its commitment to the world’s forests and procuring viscose for home textiles only from producers that have achieved the highest ranking in Canopy’s Hot Button Report.
IKEA is the first major retailer focused on the home textile and furnishing space to join CanopyStyle.
The CanopyStyle initiative now has over 520 global brands, worth over 886.3 billion USD in collective revenue, collaborating to revolutionize the viscose supply chain.
SCIB Awarded RM20.65M Project to Rebuild School
Kuching, March 2: Civil engineering specialist Sarawak Consolidated Industries Berhad announced that the Group’s wholly-owned subsidiary, SCIB Industrialised Building System Sdn Bhd, has secured an engineering, procurement, construction, and commissioning contract from Jabatan Kerja Raya Sarawak (“JKR”) valued at RM20.65 million for the rebuilding of Sekolah Daif in Tebedu, Serian.
The contract has a duration of 24 months and comes under the third phase of the Sarawak government’s RM1 billion allocation for dilapidated schools.
CARSOME Launches Joint Vehicle Theft Prevention Campaign
Kuala Lumpur, March 2: Southeast Asia’s largest integrated car e-commerce platform, CARSOME has collaborated with the Petaling Jaya District Police to broaden public awareness on the prevalence of car theft.
The collaboration comes off the back of the growing rate of vehicle theft cases across the nation, that has reached alarming levels.
CARSOME will install public service announcement signboards at these hotspots to serve as a reminder to residents and passers-by to be more cautious about their cars and surroundings.
At the same time, CARSOME will support the police with the amplification of crime awareness and prevention messages through its online channels, such as CARSOME’s website.According to a report by the Vehicle Theft Reduction Council of Malaysia Berhad (VTREC) in 2020, a vehicle is stolen every 75 minutes in Malaysia, amounting to an average of 20 cars stolen each day.
Rinani Signs Share Sale Agreement FOR KLCFC
Petaling Jaya, March 2: Rinani Group Berhad, a financial consulting firm, is pleased to announce that the Company has signed a share sale agreement with the Kuala Lumpur Football Association to acquire a majority stake in Kuala Lumpur City FC Sdn Bhd, the owner of the KL City FC football club.
“The SSA officially makes Rinani the majority owner of KLFC.
“We pledge to bring KLCFC’s performance on the pitch to a higher level by concentrating on coaching, player recruitment and youth development and we promise our fans better engagement and experience for their money’s worth. Besides the game, we will also focus on enhancing the revenue stream for KLFC for it to be sustainable and continue maintaining the club,” Rinani director Azri Azerai said.
“We would like to thank the KLFA for all that they have done over the years for the club and we will build on this to bring KLCFC to the next level.
“We will work towards having more corporate tie-ups and sponsorships for the club to be financially sustainable as well as ensure training levels that can bring the club to the international stage.
“We also would like to thank the Prime Minister, Datuk Seri Anwar Ibrahim, for his support for our venture and for encouraging the growth of Malaysian football.”
Rinani’s acquisition of a majority stake in KLFC is also in line with the directives from FIFA, football’s international governing body, and of the Asian Football Confederation, to have state-run football teams be professionally run, privately financed and independently owned.
HWUM Signs MOU For A Better Malaysia
Putrajaya, March 2: Heriot-Watt University Malaysia signed a Memorandum of Understanding with Diveheart Malaysia at the University’s Putrajaya campus recently.
The MoU formalises the parties’ collaboration in providing opportunities for young Malaysians to develop their leadership skills, entrepreneurial skills, soft skills, including critical and creative thinking, as well as their sense of social responsibility while inculcating the value of teamwork in supporting people with disabilities.
Some of the joint activities that are planned include awareness campaigns, workshops, and mentoring sessions.
The crowdfunding campaign (https://www.simplygiving.com/company/hw-my) with HWUM students aims to raise funds with the objective of upskilling people with disabilities through Diveheart’s diving training programme, which is estimated to cost RM5,000 per person.
The MoU signatories were HWUM Provost and Chief Executive Officer Professor Mushtak Al Atabi and Diveheart Director and Ambassador Tuan Syed Abd Rahman Syed Hassan.
Also present as witness signatories were HWUM Chief Operating Officer and Registrar Janice Yew and Diveheart Appointed Medical Advisor Professor Dr Nazirah Hasnan, who is also a Director of University Malaysia Medical Centre.
PropertyGuru Reports Fourth Quarter and Full Year 2022 Results
Singapore, March 1: PropertyGuru Group Limited, Southeast Asia’s leading property technology company, today announced financial results for the quarter ended December 31, 2022.
Revenue of S$40 million in the fourth quarter 2022 increased 17 per cent year over year.
Net loss was S$5 million in the fourth quarter and Adjusted EBITDA was a positive S$5 million. This compares to a net loss of S$27 million and Adjusted EBITDA loss of S$4 million in the fourth quarter of 2021.
“Rising rates, global inflation, and governmental fiscal activity are challenges that will need to be navigated in the near-term,” Hari V. Krishnan, Chief Executive Officer and Managing Director said.
“We remain bullish on our ability to deliver value to our customers as we digitise the property ecosystem and bring transparency and efficiency.
“We believe that our markets in Southeast Asia will be at the forefront of future global growth.”
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