News In Brief

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 26 till the end of the week. This article updates throughout the week.

Stripe and MYOB Boost Billing Efficiency ANZ

Sydney, Feb 26: Stripe, a leading financial infrastructure platform, and MYOB, a top business management platform, have announced an enhanced collaboration to streamline billing operations for customers in Australia and New Zealand.
This initiative, aimed at improving billing flexibility, automation, and operational efficiency, leverages Stripe Billing to offer various billing options including recurring and usage-based billing.
Caroline Rawlinson, MYOB’s Chief Operating Officer, emphasized the move towards greater billing efficiency to allow the company to focus on adding value for its clients.
Following the successful integration of Stripe Connect for online invoice payments in New Zealand, this advancement marks another step in MYOB’s commitment to supporting SMEs in the region.
Karl Durrance, Stripe ANZ’s Managing Director, highlighted the importance of streamlined financial operations for strategic growth, expressing pride in supporting MYOB’s mission to aid small and medium-sized businesses.
Stripe’s partnership with over 12,000 platforms showcases its role in facilitating embedded finance solutions globally.

Obesity Boosts Youth Pancreatic Cancer

Sydney, Feb 26: A groundbreaking study led by Flinders University has uncovered a significant increase in young-onset pancreatic cancer (YOPC) among 15-49-year-olds in Australia and other high socio-demographic index (SDI) regions over the past two decades.
Published in Pancreatology, the research highlights a concerning rise in incidence, death, and disability-adjusted life years due to YOPC, particularly in areas with higher levels of income, education, and lower fertility rates.
Despite a global decline in smoking and tobacco use contributing to a reduction in YOPC-related disability, the escalating impact of obesity and high fasting plasma glucose levels is becoming increasingly significant.
With the incidence rate in the Northern Territory alarmingly higher than in South Australia, the study emphasizes the urgent need for public health initiatives to address these risk factors.
The research, revealing a stark contrast in YOPC rates globally, points to obesity and diet as key areas for intervention to combat this deadly disease affecting younger populations.

Alibaba, UM Boost Digital Skills

Kuala Lumpur, Feb 26: Today, Alibaba Cloud announced a strategic collaboration with Universiti Malaya (UM) through the Alibaba Cloud Academic Empowerment Program (AAEP) to enhance cloud computing and artificial intelligence (AI) education for UM students and faculty. The partnership includes the introduction of the Alibaba Cloud internship program and the establishment of the Alibaba Cloud Academy Skills Centre at UM, aiming to develop future digital leaders in Malaysia.
The Memorandum of Understanding (MoU) signing ceremony at UM marked the official launch of the Alibaba Cloud Academy Skills Centre. This centre will host various training sessions, workshops, and boot camps with monthly themes spanning AI, database management, and elastic computing to provide a comprehensive learning experience.
The “Future Star” internship program, initiated by Alibaba Cloud in Malaysia with UM as the pioneer university, offers a dynamic environment for nurturing talent. Interns will benefit from extensive training, hands-on experience, and mentorship over three to six months, preparing them for the digital landscape.
Sean Yuan, Regional General Manager of Indonesia and Malaysia at Alibaba Cloud Intelligence, highlighted the initiative’s alignment with the commitment to foster digital talent in Malaysia, praising UM’s dedication to digital empowerment. Professor Ir. Dr. Kaharudin Dimyati, Deputy Vice-Chancellor of UM, emphasized the role of technology in Malaysia’s economic growth and the integration of AAEP into UM’s curriculum to further enhance digital competency among graduates.
The AAEP will grant UM students access to over 300 certification courses, 16 professional certifications, and 250 online labs through the Alibaba Cloud Academy, enriching their learning experience with seminars, guest lectures, and workshops.
Additionally, Alibaba Cloud will support UM’s academic staff with orientation programs on cloud computing and security, advising on curriculum development to meet industrial needs. This global education program is designed to provide educational institutions with the resources to nurture talent in cloud computing, data intelligence, and cloud security, contributing to Malaysia’s vision as a future technology hub.

Epson Achieves CDP A List for Environmental Leadership

Sydney, Feb 27: Epson has been recognized for its environmental efforts by being placed on the CDP A list for its significant achievements in addressing climate change and enhancing water security.
The acknowledgment comes from the global environmental organization CDP, known for its rigorous evaluation of corporate actions against environmental degradation.
Epson’s initiatives, such as transitioning to 100 per cent renewable electricity across its global operations and establishing a task force on climate-related financial disclosures, have demonstrated its commitment to sustainability.
This distinction places Epson among the top two per cent of the over 23,000 companies assessed, highlighting its role as a sustainability leader in the eyes of investors, customers, and business partners.

Street Art Auction Triumphs

Los Angeles, Feb 27: A recent auction in Los Angeles has set the art world abuzz, highlighting the immense popularity and financial value of street art. Julien’s Auctions hosted the “STREET ART” event on Thursday, February 22nd, featuring works from some of the most influential names in the genre. Notably, pieces by Banksy and Invader stole the show, collectively fetching nearly $900,000 in sales.
The auction spotlighted 20 works from renowned artists including RETNA, Jamie Reid, Jeff Hamilton And Fraser, Jorge Jimenez-Deredia, Louis Waldon, and others. It attracted a live audience in Los Angeles, with hundreds of online bidders and collectors worldwide joining the event through Julien’s Auctions.
Banksy, the enigmatic British street artist, had four pieces that particularly stood out, drawing significant attention and exceeding expectations. His “Untitled Police Van Chimp,” a stencil painting from his pivotal 2003 “Turf War” exhibition, was the top lot, selling for $222,250—more than double its original estimate. Other notable Banksy sales included “Gangsta Rat Live” for $190,500, “Crazy Horse” for $162,500, and “Mayfair Paparazzi Rat” for $142,875, each surpassing their pre-auction estimates by considerable margins.
French artist Invader, famous for his unique tile mosaic artworks, also saw significant success. Five of his pieces greatly exceeded their original estimates. For example, “POTI -50,” a mosaic installed in Potosí, Bolivia, sold for $29,250, nearly five times its estimated value. Other works like “PA_605” and “MLGA-15” found new owners for $25,400 each, showcasing the artist’s widespread appeal and the growing collector interest in street art.
This auction underscores the increasing recognition and value of street art in the contemporary art market. Works by Banksy and Invader, in particular, continue to captivate audiences and collectors alike, proving that the once-underground art form has firmly established itself in the mainstream. As street art continues to challenge traditional boundaries and engage with social issues, its popularity and market value are only expected to rise, making events like the “STREET ART” auction pivotal moments in its ongoing evolution.

UNDP-SAMENA Digital Pact

Barcelona, Feb 27: The United Nations Development Programme (UNDP) and the SAMENA Telecommunications Council have signed a Memorandum of Understanding to boost the Digital for Sustainable Development (D4SD) initiative in the Arab States. Announced at the Mobile World Congress in Barcelona, this partnership aims to enhance digital inclusion, support sustainable development goals, and improve connectivity across the region. The collaboration focuses on utilizing digital technologies to advance education, healthcare, and innovation, ensuring digital access for underserved communities, and promoting green ICT development. This alliance signifies a crucial step towards leveraging digital solutions for sustainable progress in the Arab region.

TELUS Health Launches Wellbeing Platform in Australia

Sydney, Feb 28: TELUS Health has introduced its Wellbeing solution in Australia, aiming to enhance employee health and productivity.
This digital platform, accessible via web and mobile apps, encourages positive behavioral changes through machine learning, real-time insights, and advanced analytics. It offers health assessments, personalized recommendations, a wellbeing score, gamified challenges, social tools, and educational content. Integration with over 300 wearable devices is supported, enhancing user engagement.
The launch follows a successful year with a 49 per cent global client monthly engagement rate.
Empirical data shows a 15 per cent increase in physical activity and a 24 per cent reduction in chronic disease risks among users.
TELUS Health’s commitment to comprehensive wellbeing services, including EAP, virtual care, and counseling, now extends to Australia, promising to support employers in fostering a healthier workforce.

Minetech’s Strong Q3 Surge

Kuala Lumpur, Feb 28: Minetech Resources Berhad announced a solid performance for Q3 FY2024 with a revenue of RM35.0 million, showcasing resilience in a tough market.
The Civil Engineering division led with RM25.9 million in revenue, thanks to projects like the Selinsing Gold Mine and Banting Industrial Park.
Although the Bituminous Products segment saw a slight dip, it improved in operating profit.
The Energy segment, new to the portfolio, added RM1.3 million in revenue, marking Minetech’s entry into renewable energy.
A significant contract renewal for the Selinsing Gold Mine Project, worth RM230.0 million, underscores future growth prospects.
Abang Abdillah Izzarim, the new Executive Chairman, expresses optimism for Minetech’s strategic direction and commitment to growth.

Leon Fuat’s Profitable FY2023

Shah Alam, Feb 28: LEON FUAT BERHAD, a key player in the steel industry, reports a financial downturn with FY2023 revenue dropping 9.5 per cent to RM928.05 million from the previous year’s RM1.03 billion. This decline was mainly due to decreased sales in trading and processing segments.
Despite the revenue dip, the Group’s strategic focus on efficiency led to a gross profit increase of 9.1 per cent to RM99.59 million and a profit before tax (PBT) rise of 7.7 per cent to RM39.76 million, highlighting improved financial health and profitability.
The final quarter saw a revenue uptick of 1.8 per cent to RM240.57 million and a significant PBT increase of 70.9 per cent to RM6.81 million, emphasizing Leon Fuat’s successful adjustment to market challenges and its robust profit margins.

KJTS Ends FY2023 on High Note with Cooling Energy Growth

Kuala Lumpur, Feb 28: KJTS Group Berhad, a leader in building support services across Malaysia, Thailand, and Singapore, has announced its Q4 FY2023 results, showcasing a revenue increase to RM31.5 million for the quarter, culminating in an annual revenue of RM119.89 million.
The surge is attributed mainly to the cooling energy and cleaning services sectors, which have become significant contributors to the Group’s financial uplift.
In Q4, the cooling energy segment alone contributed RM14.1 million, making up nearly 45 per cent of the total revenue, while cleaning services added RM13.4 million.
Malaysia remains the Group’s largest market, with significant earnings, followed by Singapore, which stands as the largest foreign market.
Despite a quarter-on-quarter revenue increase of 4.95 per cent, PBT for Q4 dipped to RM2.3 million from RM5.0 million in Q3, due to higher operating expenses in line with the Group’s expansion strategies. The year ended with a profit after tax and non-controlling interest (PATNCI) of RM8.15 million.
Highlighting the company’s growth trajectory, Puan Azura Binti Azman, KJTS’s Independent Non-Executive Chairman, underscored the successful January 2024 IPO, which raised RM58.9 million, earmarked for scaling operations, especially in the cooling energy management segment.
She also noted the 15-year agreement signed by subsidiary KJTN Engineering with CENTARA for O&M services at Centara Grand Hotel in Bangkok, expected to bolster the Group’s recurring revenue stream.

WhatsApp Introduces Date Search Feature

Kuala Lumpur, Feb 29: WhatsApp has launched a new search by date function, making it easier for users to navigate their chats and find messages from specific dates.
This feature, ideal for locating past messages or revisiting memorable conversations, is now available on Android, following its availability on iOS, Mac desktop, and WhatsApp Web.
Users can access this feature by tapping on a chat, clicking the contact or group name at the top, and selecting ‘Search’ to choose a date.
Additionally, WhatsApp offers the ability to search for media, links, and documents within chats, further enhancing user experience in finding specific items like photos, links, or files.

SCIB Reports Profitable Q2FY2024

Kuching, Feb 29: Sarawak Consolidated Industries Berhad (SCIB) has announced a successful second quarter for the fiscal year 2024, with revenues rising to RM38.1 million, a 5.8 per cent increase from the previous year, and a profit before tax of RM1.5 million, marking a significant turnaround from the previous year’s loss.
}The improvement is attributed to the company’s strategic initiatives and operational efficiencies, particularly in its Construction/EPCC and Manufacturing divisions.
Despite a slight quarter-on-quarter revenue dip, SCIB continues to show resilience and strategic growth, highlighted by recent contract wins and strategic land acquisitions.
The company also announced the appointment of Yak Boon Tiong as an Independent Non-Executive Director, strengthening its governance and strategic financial management.
With a focus on sustainable growth and strategic recalibrations, SCIB remains optimistic about its future prospects.

Magma Group Eyes Recovery with Improved Q4 Results

Kuala Lumpur, Feb 29: Magma Group Berhad has announced a notable improvement in its financial performance for the fourth quarter of fiscal year 2023, reducing its Loss After Tax to RM3.147 million from RM5.575 million in the same period last year.
This progress is largely due to the enhanced performance in its hotel operations, supported by the leadership of the new management team.
With the hospitality sector showing signs of recovery, fueled by initiatives like “Visit Perak Year 2024” and relaxed visa policies, Magma is optimistic about future growth.
Following a legal victory and the resolution of a lawsuit with Public Bank Berhad, the Group is set to focus on strategic growth in hospitality and property development, underpinned by a promising outlook and management’s strategic recalibration.

MR D.I.Y. Launches ‘Raya Sama-Sama’

Kuala Lumpur, March 1: MR D.I.Y. Group [M] Berhad is celebrating Ramadan and Hari Raya with ‘Raya Sama-Sama’, featuring collaborations with Alif Satar.
Events include a fan meet-and-greet and a ‘Buka Puasa’ on March 21, alongside a festive CSR initiative.
Over 100 home essentials for Hari Raya will be available at selected stores nationwide, with discounts up to 30 per cent.
A creative photo contest offers fans a chance to join the ‘Buka Puasa’ event.
Additionally, a Hari Raya Aidilfitri webfilm will be released, and special Duit Raya packets will be given with qualifying purchases. For more information, visit MR D.I.Y.’s website and social media.

PHA Aids Needy Students

Penang, March 3: The Penang Hindu Association, in partnership with Klinik Derma Sivasanta and the Majlis Bandaraya Pulau Pinang, recently organized a ‘Back-to-School Programme’ for needy students in Penang.
This initiative was in response to the financial struggles many families face, particularly with the rising cost of school supplies.
The program provided vouchers to 120 primary, secondary, and college students from B40 families, allowing them to obtain essential items such as uniforms, shoes, and stationery.
The event, which took place on Feb 25 was officiated by MBPP Mayor Datuk Ir.Rajendran Anthony.
It highlights the ongoing efforts of local organizations and the government to support underprivileged students amidst escalating living costs and education expenses.
The assistance aims to alleviate the financial burden on families, ensuring that children have the necessary resources for their education.