The Sun 13.09.2022

BIDEN SAID TO HIT CHINA WITH BROADER CURBS
ON US CHIP AND TOOL EXPORTS p15

TUESDAY, SEPTEMBER 13, 2022 w w w. t h e e d g e m a r k e t s. c o m

ISSUE 442/2022

CEOMorningBrief
HOME: Maybank to move HQ to Merdeka 118 in 2025, confirms The Edge’s report p4
Bermaz reports five-fold jump in 1Q profit as sales rose prior to expiry of sales tax exemption p6

WORLD: China’s Xi Jinping will travel to Central Asia, first overseas trip since pandemic p16
Depleting reserves spell risks for emerging Asian currencies p17

Tech rally haunted by ‘palpable fear’ of chip industry weakness p18

Malaysia end-Aug palm oil stocks jump
to 33-month high

Report on Page 2.

PHOTO: WWW.SELANGOR.GOV.MY

Respect rule
of law, judicial
independence,
says Selangor Sultan

Ruler also revokes titles
awarded to Najib and Rosmah

Reports on Page 3.

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Malaysia and October as weakening palm prices will Food supply chain
end-Aug palm oil draw greater interest from India, said Par- approach, alternative
amalingam Supramaniam, director at Sel- imported food sources
stocks jump to angor-based brokerage Pelindung Bestari. to be reviewed, says
33-month high
“Concerns remain over demand for Ma- Annuar
by Mei Mei Chu laysian CPO as neighbour Indonesia revises
Reuters taxes and raises exportable volumes to clear Bernama
its inventories, which could potentially weigh
KUALA LUMPUR (Sept 12): Malay- on the benchmark CPO prices and render PUTRAJAYA (Sept 12):The SpecialTask
sia’s palm oil stocks at the end of August tough competition,” JosephTek, Malaysian Force on Jihad Against Inflation will re-
climbed to their highest in 33 months, as Palm Oil Association (MPOA) chief exec- view the aspects of the food supply chain
output rose with peak production season utive said in a statement last week. approach and distribution, and find al-
getting underway, palm oil board data ternative sources of imported food to re-
showed on Monday (Sept 12). The MPOA had warned that weather un- duce price and cost hikes in a bid to curb
certainties and a triple-dip La Nina weather inflation in the country.
Inventories rose 18.16% from the pre- phenomenon, the first of this century, will
vious month to 2.09 million tonnes, hitting hit production in the months ahead. Its chairmanTan SriAnnuar Musa said
the highest level since November 2019, data it was among the recommendations given
from the Malaysian Palm Oil Board showed. La Nina is forecast to last through the by research company Ipsos Sdn Bhd to
end of this year, with heavy rainfall and the task force for consideration on Mon-
Crude palm oil (CPO) production floods expected to force plantations to their day (Sept 12).
rose for a third straight month, expanding limits,Tek said.
9.67% from July to 1.73 million tonnes. He said Ipsos also presented its findings
Further hammered by a labour short- on inflation and its effects on the world,
Exports fell 1.94% to 1.3 million age, 2022 production in the world’s sec- including Malaysia, and made several rec-
tonnes, MPOB said. ond-largest producer is forecast to de- ommendations in the areas of food security
cline for a third year, or at best remain and spending patterns that can contribute
Overseas shipments will remain robust unchanged from last year’s 18.8 million directly to national economic recovery.
above 1.3 million tonnes both in September tonnes.
Read also: Sabah to maximise technology, “Among the recommendations are
innovation to boost palm oil sector to review the aspects of the food supply
chain approach and distribution to have
KUALA LUMPUR (Sept 12): A total of 26 agricultural a more efficient and integrated one-stop
26 selected agricultural commodities re- items record centre to reduce the possibility of price
corded Self-Sufficiency Ratio (SSR) of over hikes, and to look for alternative sources
100% in 2021, according to the Depart- over 100% of imported food.
ment of Statistics Malaysia (DOSM). self-sufficiency
“For example, [the possibility of im-
Based on the DOSM statistics released on rate in 2021 porting] chicken from other countries to
Monday (Sept 12), the department said 10 reduce costs,” he told a press conference
out of 14 selected fruits recorded SSR of more Bernama after charging the task force’s meeting on
than 100%, with papaya remaining the highest Monday.
at 146.9%,followed by watermelon (139.5%), As for selected livestock, duck meat re-
and cempedak or jackfruit (110.8%). corded an SSR of 130.6%, and chicken or Annuar said imported food products,
duck eggs recorded 114.4%. such as meat, vegetables and fish, have in-
“Meanwhile, the country’s ability to creased by 62%, and continued depend-
produce local mangoes to meet domestic The statistics also showed that five ence on imports in US dollars will make
needs remains the lowest at 16.2%, down out of 13 selected fish species recorded Malaysia vulnerable.
from 20.2% in 2020,” it said. an SSR of over 100%, namely freshwater
catfish (108.3%), crab (104.4%), mackerel “The move that can be taken is to in-
For selected vegetables, DOSM said (100.7%), shrimp (100.4%), and patin or crease food production in the country,
seven out of 10 food commodities recorded silver catfish (100%). and find alternative sources for importing
over 100% SSR, with tomatoes recording food,” he said.
the highest SSR at 118.9%, while chilli Read also: Annuar: Inappropriate to
remained at the lowest at 29.3%. allege anti-inflation task force has failed

Two other selected crops, namely sug-
arcane and cassava, recorded an SSR of
149.4% and 100.2% respectively.

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SHAH ALAM (Sept 12): Sultan of Sel- Sultan of He said the people should understand
angor Sultan Sharafuddin Idris Shah on Selangor urges that the pardon process has to be done in
Monday (Sept 12) urged the people to public to respect accordance with the law, as enshrined in the
respect the rule of law and the independ- rule of law, judicial Federal Constitution and other existing laws.
ence of the judiciary, which is the basis of independence
the democratic constitutional monarchy Over the weekend, Chief Justice Tun
system practised in Malaysia. by Hafiz Yatim Tengku Maimun Tuan Mat said it is im-
theedgemarkets.com portant for politicians and the public to
In a statement, Sultan Sharafuddin said read and understand judgements before
the Federal Constitution puts the dignity “Hence, I would like to urge everyone hurling criticism at the judiciary.
of the judiciary, as an independent and to ensure, and to take steps to ensure and
authoritative body, on a pedestal. protect, the independence of the judiciary “My personal opinion is that the com-
for the progress of the country,” he added. ments made by people who don’t under-
It is also the last bastion that must be stand show their lack of understanding
defended to ensure that justice can be ad- “The people should give their full trust because they don’t read the judgement.
ministered properly. in the country’s judicial system and not
hurl unfounded accusations, without “If they don’t read, they don’t under-
“The people should know that the judg- knowing the facts and reasoning made stand. If they don’t understand, they will
es in the Federal Court, Court of Appeal by the judiciary in a particular case. Any make comments that are inappropriate
and High Court are all appointed by the unfounded accusation would result in a and irrelevant to the issue,” she was quot-
Yang di-Pertuan Agong after getting the negative perception towards the independ- ed as saying, when asked to comment to
advice from the prime minister, and af- ence of the judiciary, and would erode the the Federal Court’s decision of upholding
ter consulting the Conference of Rulers, confidence and trust of the people in the former prime minister Datuk Seri Najib
in line with Article 122B of the Federal administration of justice. This would in Razak’s guilty conviction in the SRC In-
Constitution. turn affect Malaysia’s reputation in the ternational Sdn Bhd case.
international arena,” he warned.
“Before the prime minister advises the Yang di-Pertuan Agong Al-Sultan
Yang di-Pertuan Agong in the appoint- Sultan Sharafuddin also voiced his Abdullah Ri’ayatuddin Al-Mustafa Bil-
ment of a judge, he or she must first con- support for the speech made by theYang lah Shah earlier this month said Islamic
sult the Chief Justice and get the recom- di-Pertuan Agong on Sept 5 that a royal justice does not at all give any privilege
mendation of the Judicial Appointments pardon should not be granted arbitrarily or exception to anyone who commits a
Commission. The judges must undergo for the sake of certain parties. wrongdoing, be it oneself, close friends,
a rigorous selection process which sets family members or parents.
it apart from other government institu-
tions.This reflects the importance of the His Majesty said the principle of Islam-
judiciary’s role in the administration of ic justice does not allow any form of injus-
the country,” Sultan Sharafuddin added. tice, including to those unliked, besides
also upholding justice without favouritism
He said judicial independence needs to that was practiced successfully, and which
be understood, supported and believed in raised the dignity of Islam during the time
by all, especially by the executive. of Prophet Muhammad SAW.

KUALA LUMPUR (Sept 12): Selangor’s Selangor Sultan (SPMS) first class which gives her the title
Sultan Sharafuddin Idris Shah on Monday revokes Najib of Datin Paduka Seri that was awarded in
(Sept 12) has revoked two titles bestowed and Rosmah’s 2005 was revoked due to her High Court
on former prime minister Datuk Seri Na- state honours conviction for graft on Sept 1.
jib Razak and one on his wife, Datin Seri
Rosmah Mansor. by Hafiz Yatim “Hence, the title is withdrawn from
theedgemarkets.com Rosmah with immediate effect,” he added.
According to a statement from the Sel-
angor state secretary, Datuk Haris Kasim, Sultan Sharafuddin on Monday The withdrawal of the state’s honours
this is in accordance with the directive (Sept 12) has revoked two titles from are in line with the Sultan’s prerogative
issued by the Sultan. Najib and one from his wife Rosmah. under Articles 38 and 39 of the Selangor
state constitution 1959, he said.
“The titles of ‘Seri Paduka Mahkota
Selangor’ (SPMS) first class which carries Haris also announced the withdrawal of
the title of ‘Datuk Seri’ awarded to Najib a datukship title from Mohd Arif Ab Rah-
in 2004 and also ‘Dato’ Paduka Mahkota man, who had been awarded the Darjah
Selangor’ (DPMS) that carries the title Sultan Sharafuddin Idris Shah (DSIS) in
of Datuk awarded in 1992 [are] hereby 2005, the Darjah Setia Sultan Sharafud-
withdrawn. din Idris Shah in 2003, and Ahli Mahkota
Selangor fourth class in 2001.
“This comes after he was charged with
abuse of power, criminal breach of trust This follows his conviction for graft at
and money laundering in relation to SRC the Sessions Court, and the High Court
International Sdn Bhd, and his conviction upholding his sentence.
and sentence were affirmed by the Federal
Court on Aug 23, 2022. With this, both “Hence, Mohd Arif’s three titles have
titles accorded to him are withdrawn with been revoked with immediate effect,”
immediate effect,” Haris said. Haris said.

On Rosmah, the state secretary said her Earlier, Sultan Sharafuddin in a me-
title of ‘Seri Paduka Mahkota Selangor’ dia statement urged the people to uphold
the rule of law and respect judicial inde-
pendence.

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Maybank to move “For the avoidance of doubt, Maybank Budget 2023
HQ to Merdeka 118 itself may also secure a buyer for Menara to focus on
Maybank,” it added. automation,
in 2025, confirms digital technology
The Edge’s report In a statement on Monday (Sept 12), — MOF
Maybank group president and chief execu-
theedgemarkets.com tive officer Datuk Khairussaleh Ramli said Bernama
the decision took into consideration the cost
KUALA LUMPUR (Sept 12): Malayan and benefit of upgrading Menara Maybank KUALA LUMPUR (Sept 12): Malay-
Banking Bhd (Maybank) has announced to meet, among others, operational and ef- sia’s upcoming Budget 2023 will focus
that it will be moving its headquarters to Me- ficiency advantages, and the latest standards on the use of automation and digital
nara Merdeka 118, the world’s second tallest of sustainability. technology, and the development of a
building owned by the bank’s largest share- future-ready workforce,said Deputy Fi-
holder Permodalan Nasional Bhd (PNB). “To do so would incur significant invest- nance Minister IIYamani Hafez Musa.
ments, not to mention the maintenance costs
Maybank has entered into a 21-year and the need to temporarily relocate our of- He said the Government, in col-
tenancy agreement with PNB, consisting fices and employees into various locations laboration with various parties, is ac-
of an initial term of three years and renewal within the Klang Valley. In addition, there tively preparing the nation for digital
for a further six three-year terms. would be various operational risks and busi- transformation to drive sustainable
ness disruption to our customers,” he said. and equitable economic growth.
The country’s largest bank by asset size
will occupy 33 floors in Menara Merdeka Since Maybank is not in the business In order for Malaysia to become a
118, and has been offered naming and sig- of property development, he said the bank high-income country, it is important
nage rights over the building, confirming a re- saw it prudent to pursue the tenancy option to ensure that the country's digital
port by The Edge Malaysia weekly on Aug 15. while evaluating the best options for its cur- ecosystem is strengthened, and that
rent head office, Menara Maybank, which future talent is honed, he said.
Maybank,which is 39.85%-owned by PNB, it owns and will become largely vacant with
said the monthly gross rent is RM10.60 per the move to Menara Merdeka 118. “Digitalisation, technology adop-
square foot, subject to a variation subsequent tion and innovation are important
to the first two terms or six years, in accord- All existing offices within Menara for sustainable growth.
ance with the terms of the tenancy agreement. Maybank will relocate to the new build-
ing on a staggered basis starting in the first “To support the development of
In regards to the existing Menara Maybank, quarter of 2025.The KL Main Branch in innovation in Malaysia, the Govern-
the group has entered into a 10-year lease Menara Maybank, however, will remain ment has approved 99 projects and
agreement with PNB to lease the property to and there will be no impact to customers programmes in research,development,
PNB on a triple net basis,meaning all expenses who have accounts in this branch. commercialisation and innovation
of Menara Maybank, including maintenance, from 2021 to 2022, with an invest-
insurance, and all taxes will be borne by PNB. Also relocating to Menara Merdeka 118 ment totalling RM5.6 billion,” he said.
are selected Maybank subsidiaries current-
Maybank is to receive a minimum ly based in Dataran Maybank, including Read the full story
guaranteed rental which is approximate- Maybank Islamic, Maybank Investment
ly equivalent to RM12.1 million per an- Bank and Maybank Asset Management.
num over the 10-year period. PNB may
rent out Menara Maybank to sub-tenants. Maybank’s total occupancy of 650,000 sq
ft at Menara Merdeka 118 will be less than
“Should Menara Maybank be sold to a its current net lettable area of 1.09 million
buyer secured by PNB within the term of sq ft at Menara Maybank in line with the
the lease agreement or a period of up to 24 bank’s strategy to use workspace optimally
months after the expiry of the term of the lease and smartly while incorporating social dis-
agreement, at a price agreed by Maybank, the tancing measures among other standard op-
net proceeds will be shared between Maybank erating procedures, given its adoption of new
and PNB, in line with market practice,” said age work practices of remote working, said
Maybank in a Bursa Malaysia filing. the bank in the statement.
Read also: Maybank’s new HQ at Merdeka
118 to enhance brand visibility, says CEO

KUALA LUMPUR (Sept 12): Malaysia’s Malaysia’s 2022 GDP laysia is now around 2.8% in the first seven
economic growth may surpass the official es- growth may surpass months, our monetary policy remains accom-
timates of between 5.3% and 6.3% in 2022, modative although Bank Negara Malaysia has
as the country saw faster growth in the sec- official estimate, increased the overnight policy rate (OPR) by
ond quarter at 8.9%. says Tengku Zafrul (another) 25 basis points to 2.50%, but it is
still lower than what it was before the (Cov-
Finance MinisterTengku Datuk Seri Zafrul Bernama id) crisis at 3.0% to 3.25%,” he said at the
Tengku Abdul Aziz said Malaysia is likely to Recovery and Resilience: Spotlight on Asean
chart even stronger growth in the third quar- Business forum on Monday (Sept 12).
ter, despite facing a weaker global economy, as Read the full story
well as the rising US dollar. “The new num-
ber (forecast) will be announced on Oct 7.

“Also important is that inflation in Ma-

TUESDAY SEPTEMBER 13, 2022 5 THEEDGE CEO MORNING BRIEF

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Bermaz reports Magni-Tech 1Q net For the quarter under review, the garment’s
five-fold jump profit rises 14.2% to segment saw an 11.4% increase in revenue to
in 1Q profit as RM24 mil, declares RM315.35 million from RM283.02 million,
sales rose prior to whereas the packaging segment’s revenue in-
expiry of sales 2.2 sen dividend creased by 13.3% to RM25.56 million from
tax exemption RM22.55 million.
by Shazni Ong
by Syafiqah Salim theedgemarkets.com Additionally, the group declared a single-tier
theedgemarkets.com interim dividend of 2.2 sen per share, to be pay-
KUALA LUMPUR (Sept 12): Magni-Tech In- able on Oct 12.
KUALA LUMPUR (Sept 12): Bermaz dustries Bhd’s net profit for the first quarter ended
Auto Bhd registered a 388.5% jump in net July 31,2022 (1QFY23) rose 14.16% to RM24.03 On a quarterly basis, Magni-Tech’s net prof-
profit to RM50.16 million in the first quar- million from RM21.05 million a year ago, under- it dropped by 10.66% from RM26.89 million
ter ended July 31, 2022 (1QFY23), from pinned by higher sales orders received from both posted for 4Q22 despite revenue climbing by
RM10.27 million a year earlier, mainly due its garment and packaging segments. 31.97% from RM258.32 million in the imme-
to a surge in vehicle sales prior to the expiry diate preceding quarter.
of the sales tax exemption incentive. Earnings per share were up to 5.54 sen from
4.85 sen previously, its Bursa Malaysia filing on Looking ahead, Magni-Tech noted in addi-
The higher earnings were also attributed Monday (Sept 12) showed. tion to the slow recovery from Covid-19 pan-
to the reopening of the country’s economy demic, the conflict in Ukraine coupled with the
under the transition to endemic phase and Quarterly revenue grew 11.57% to high global inflation have further damaged con-
the launch of the new Kia Carnival. RM340.91 million — its highest since 3QFY21 sumers’ confidence and caused the global eco-
— from RM305.57 million recorded in the same nomic outlook to remain sluggish.
Earnings per share grew to 4.32 sen period a year ago.
from 0.88 sen previously, according to As such, the group said it would maintain
the group’s Bursa Malaysia filing. Magni-Tech’s businesses are mainly divided a very prudent approach in managing business
into two business segments, namely the manu- risks and finance.
Quarterly revenue jumped 123.5% to facturing and sale of garments, as well as flexible
RM716.87 million from RM320.79 million plastic packaging and corrugated cartons, with the “While efforts are continuously made to im-
in 1QFY22, mainly due to an increase in garment segment accounting for about 92.5% of all prove the group’s business operations and per-
overall sales volume from the group’s Maz- of the group’s revenues and profits from operations. formance, the group remains cautious about
da,Peugeot and Kia operations in Malaysia. the business outlook and financial performance
for the remaining quarters of [financial year]
In addition, positive contribution from 2023,” it added.
its associated company, Mazda Malaysia
Sdn Bhd, and the strengthening of the Shares in Magni-Tech closed two sen or
ringgit against the yen had also contrib- 1.06% higher at RM1.90 on Monday (Sept 12),
uted to the improved results. valuing the group at RM824.5 million.

Compared to the immediate preced- BCorp’s Singapore one existing CPS into three subdivided SIAMH
ing quarter, Bermaz’s net profit dropped medical services unit shares and three subdivided CPS in SIAMH
36.27% from RM78.7 million in to undertake share respectively,” said BCorp in a bourse filing.
4QFY22, as revenue declined 20.11%
from RM897.36 million, mainly due to split ahead of IPO BCorp, which currently owns a 51.62%
the ongoing shortages in semiconductor stake of SIAMH, said the subsidiary will also
chips and components, continued lock- by Priyatharisiny Vasu undertake conversion of its CPS and other
downs in China and disruption in global theedgemarkets.com existing convertible securities.
supply chain, which had impacted the
group’s Mazda sales volume. KUALA LUMPUR (Sept 12): Berjaya Corp After the completion of the share split and
Bhd (BCorp) has said its subsidiary, Singa- conversion of the convertible securities, SI-
The group declared a first interim pore Institute of Advanced Medicine Hold- AMH will then undertake the IPO exercise.
dividend of three sen per share, payable ings Pte Ltd (SIAMH), will undertake a
on Nov 4. share split ahead of its listing on the Catalist The exact number of new SIAMH shares
Board of the Singapore Exchange. to be issued is not determined yet, said BCorp.
Bermaz said the automotive sector con-
tinues to face disruption challenges from the The share split will involve SIAMH’s exist- Assuming a minimum IPO price of 20
ongoing shortage of microchips and compo- ing shares and convertible preference shares cents per share, the group expects maximum
nents as well as shipment delays. However, (CPS), said BCorp, adding that the basis of gross proceeds of S$30 million.
the group anticipates its performance for the subdivision can only be finalised when
the rest of the financial year ending April the issue price for the initial public offering Of the proceeds, S$5 million will be used
30, 2023 to remain encouraging. (IPO) price is determined by way of an in- for the acquisitions of new equipment and
dependent book-building exercise. facilities and upgrading of systems and oth-
Bermaz’s share price finished up four er facilities in the SIAMH Group’s medical
sen or 2.23% at RM1.83 on Monday (Sept “Assuming a minimum IPO price of 20 cents clinics, said BCorp.
9), translating into a market capitalisation (65 sen) and maximum gross proceeds of S$30
of RM2.13 billion.The counter has risen million to be raised under the proposed listing, The remaining proceeds will be used for
12.96% year-to-date. the proposed share split will involve the subdi- the expansion of professional teams and ser-
vision of every one existing SIAMH share and vices, working capital, repayment of bank bor-
rowings and other listing expenses.

SIAMH is expected to be an associated com-
pany of BCorp upon completion of the listing.

SIAMH, which was incorporated in No-
vember 2011, is principally involved in the
provision of medical diagnostics and treat-
ments as well as radiation therapy and med-
ical oncology services.

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Malaysia’s July 2022 Performance in sales value and volume index for
wholesale, retail wholesale and retail trade sector, Jan 2020-July 2022
trade value grows
41% on-year to Sales value (RM bil) Volume index
RM131 bil 140
120 Volume index July: 33.7% 160
100 140
120
80 Sales value July: 41.0% 100
60
40 80
20 60
40
0 20
0
Jan
by Syafiqah Salim Feb
theedgemarkets.com Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
June
July

2020 2021 2022

KUALA LUMPUR (Sept 12):The sales Source: Department of Statistics Malaysia lifted by sales of motor vehicles which
value of Malaysia’s wholesale and retail soared 431.5% to RM7 billion, sales
trade grew 41% year-on-year (y-o-y) to increased 681.6%, and retail trade, which of motor vehicles parts and accessories
RM130.7 billion in July 2022, led by a rose 31.6%. Similarly, wholesale trade also (911.6%), maintenance and repair of mo-
jump in motor vehicle sales value, retail recorded a positive growth at 10.8%. tor vehicles (1,062.3%), and maintenance
and wholesale trade value, according to and repair of motorcycles (916%).
the Department of Statistics Malaysia However, for seasonally adjusted vol-
(DOSM) on Monday (Sept 12). ume index, it went down 1.4% m-o-m, “The increase in [the] wholesale trade
the DOSM said. sub-sector with 20.6% was mainly attrib-
Motor vehicles’ sales value expanded uted to other specialised wholesale (22%).
613.8% to RM14.4 billion, retail trade “For the performance across sub-sec- Among the groups that contributed to this
surged 37.5% to RM56.6 billion, while tors, retail trade sub-sector growth of growth were wholesale of household goods
wholesale trade rose 20.6% to RM59.7 37.5% in July 2022 was supported by (35%), wholesale of agricultural raw ma-
billion, said the DOSM in a statement. retail sales in non-specialised stores terials and live animals (17.8%), whole-
which grew 39.1% or RM5.9 billion to sale of machinery, equipment and supplies
For month-on-month (m-o-m) com- RM20.8 billion. Likewise, other groups (20%), and wholesale of food, beverages
parison, wholesale and retail trade sales in this sub-sector also recorded positive and tobacco (7.2%),” the DOSM added.
value decreased 1.6%, as motor vehicle growth, namely retail sales in specialised Read the full story
sales value fell 10.5%. stores (47.1%), retail sales of automotive
fuels (73.7%) and retail sales of household
In terms of volume index, wholesale goods (28.8%),” it said.
and retail trade registered a y-o-y growth
of 33.7%.The expansion, the DOSM said, Meanwhile, the 613.8% jump in the
was contributed by motor vehicles, which motor vehicles sub-sector this month was

KUALA LUMPUR (Sept 12): Malaysia’s Malaysia’s IPI costs,” it said in a separate note.
Industrial Production Index (IPI) is expect- growth outlook Overall, the research firm foresees contin-
ed to remain favourable for the year (5.0%), seen mixed as
underpinned by sustained improvements in global economic ued expansion in domestic economic activities.
domestic spending and steady external de- uncertainty deepens “Despite signs of a more moderate outlook,
mand, although that is expected to gradually
moderate going forward. by Zarul Effendi Razali we still expect increased foreign demand espe-
Bernama cially for E&E and commodities to drive pro-
Public Investment Bank Bhd said elec- duction in the export-oriented sectors,” it said.
trical and electronics (E&E), as well as the ing managers index (PMI) remained above 50
exports of other manufactured goods, will at 50.3 in August (July: 50.6), the slowdown AmBank Research said moving forward, it
remain encouraging nonetheless. in the global economy in August, as shown sees “more pronounced headwinds as global
by the latest PMI report, suggests a softer central banks (have) already tightened their
“Electricity output will also be a notable outlook for external demand. purse strings in an effort to bring down in-
contributor to IPI growth in 2022, thanks to full flation, which in turn will dampen global
economic openings following our transition to “Moreover, a slowing sales performance in demand and cause spillover effects on ex-
the Covid-19 endemic stage beginning April. July also signals moderate growth in domestic port-oriented industries.”
spending. In other words, while we expect IPI
“Risks may emanate from inflationary to continue growing, the near-term outlook “Plus, the intermittent lockdowns in China
pressures and more pronounced econom- would be constrained by possible softening of due to the stringent zero-Covid policy, to some
ic slowdowns in the advanced economies, final demand, in addition to challenges in the extent, can affect the industry’s performance as
though we expect the former to gradually global supply chain and increased production well.The downside risks also lie in the escalation
dissipate and see the latter not an immedi- of geopolitical tension between China-Taiwan.
ate threat in the near term,” it said in a note.
“The easing semiconductor sales can also
However, MIDF Research has revised its pose some threat to Malaysia’s growth activity.
projection for IPI growth lower to 6.0% this For July 2022, the global semiconductor rev-
year, compared to 8.2% in the previous year, enue increased 7.3% year-on-year to US$49
as it now anticipates a more moderate IPI billion, the slowest pace since December 2020.
growth in the latter part of the year.
“For now, we are maintaining our full-year
“While Malaysia’s manufacturing purchas- growth projection at 6.4% in 2022, before
easing to 4.8% in 2023,” it said.

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KSL to buy Mah Sing
54 acres of land sells freehold
in Johor from
Tropicana for land in
Penang for
RM103 mil RM66 mil

by Izzul Ikram by Shazni Ong
theedgemarkets.com theedgemarkets.com

KUALA LUMPUR (Sept 12): KSL Hold- over a period of eight to 10 years. KUALA LUMPUR (Sept 12): Mah
ings Bhd is buying 53.89 acres of freehold “Based on the board’s estimation, bar- Sing Group Bhd is disposing of
land in Pontian, Johor from Tropicana 13,695 sq metres of freehold land in
Corp Bhd for RM102.94 million. ring any unforeseen circumstances, the to- Georgetown, Penang for RM66.33
tal gross development value of the project million cash.
In a bourse filing on Monday (Sept will range from RM345 million to RM395
12), the property developer said its whol- million; while its gross development cost In a bourse filing, Mah Sing said
ly-owned subsidiary KSL Medini Develop- is expected to be around RM188 million. its wholly-owned subsidiary Klassik
ment Sdn Bhd is acquiring the land from Tropika Development Sdn Bhd is
Tropicana GP Views Sdn Bhd, a unit of “Accordingly, an estimated gross de- selling the plot located in Pykett
Tropicana, for the acquisition. velopment profit of between RM157 (mil- Avenue to Morningjoy Sdn Bhd.
lion) to RM207 million is expected to be
KSL said the plot enlarges the current derived for the group over the duration of It said the land was acquired
land bank of the group to enhance future the said development,” it added. by Klassik Tropika in 2009 for a
revenue and earnings, and will be used for proposed high-end condominium
a residential development project to fur- The proposed acquisition for the land development, and is currently free
ther enhance its presence in the property in Pontian comes a month after KSL’s from all encumbrances, besides pre-
market in Johor. unit, KSL Development Sdn Bhd, en- dominantly flat and vacant. As at
tered into an agreement with Tropicana’s June 30, 2022, the land’s net book
The group said the purchase consideration wholly-owned subsidiaryTropicana Desa value is RM61.85 million.
was arrived at on “as is, where is” and “willing Mentari Sdn Bhd to acquire 84.09 acres of
seller-willing buyer” bases, after considering land in Johor Bahru for RM109.88 million. Man Sing said the disposal of
the market value of RM105 million for the the land is in line with the group’s
land, as appraised by a registered valuer. The Johor Bahru land is to be used for strategy to focus more on its “M-Se-
landed property development and is to en- ries” type of residential land for de-
It added that the acquisition is expected hance the group’s presence in the property velopment of affordable properties
to be completed by end-2023. market in Johor. that are in line with current market
demand.
Touching on the residential develop- Shares in KSL ended down seven sen
ment project, KSL said it will entail 628 or 8.33% at 77 sen on Monday, giving the “Disposal of the land and re-
units of residential properties and is ex- group a market capitalisation of RM798.88 placement with M-Series lands with
pected to commence in 2024 and spread million. faster turnaround time will help
optimise efficiency of the group’s
KUALA LUMPUR (Sept 12): Chin ChinTeck to landbank. The proceeds unlocked
Teck Plantations Bhd is to acquire Kelan- acquire from the monetisation of the unde-
tan-based planter Fauzi-Lim Plantation veloped land will free up cash for
Sdn Bhd for RM45 million cash. Kelantan-based utilisation by the group for future
planter for land acquisitions.
The group said the acquisition would RM45 mil
provide it with an opportunity to pursue its “As the loan facility for the land
long-term strategy of expanding its planta- by Izzul Ikram has been fully settled, the proceeds
tion business through brownfield oil palm theedgemarkets.com from the disposal are expected to
plantations. enhance the cash and bank position
ChinTeck said the acquisition is expect- of the group,” it added.
“The long-term prospects of palm oil ed to be completed by the end of this year.
is promising as there is a global demand Mah Sing expects to generate
for palm products,” said Chin Teck in a Shares in Chin Teck closed 13 sen or a gain of RM1.8 million upon
bourse filing. 1.55% lower at RM8.25 on Monday (Sept completion of the sale in the
12), giving the group a market capitalisa- fourth quarter of 2022, after de-
The group said its wholly owned sub- tion of RM753.75 million. ducting all estimated expenses for
sidiary,VMAS Untung Sdn Bhd, is buying the exercise.
the plantation firm from MWE Holdings
Sdn Bhd. Mah Sing’s share price closed
unchanged at 63 sen on Monday
“The board is of the view that the pro- (Sept 12), valuing the property de-
posed acquisition is expected to contribute veloper at RM1.53 billion.
positively to the future financial perfor-
mance of the group,” it added.

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KUALA LUMPUR (Sept 12): AmBank Najib never sued Sri Ram: What about this case?
branch manager R Uma Devi told the AmBank while Uma: [I have the] same answer.
High Court here on Monday (Sept 12) he was account Uma said that she was transferred to Am-
that former prime minister Datuk Seri Bank’s Jalan Raja Chulan branch in 2015,
Najib Razak had never complained nor holder, bank where Najib had opened his bank accounts.
filed any legal action since 2015 against manager says Sri Ram: [From] 2015 to 2018, did
the bank in relation to the large sums of the accused file any proceedings against
money that were banked into his private by Timothy Achariam & Tarani Palani your bank for mishandling his accounts?
AmBank accounts. theedgemarkets.com Uma: To my knowledge, no.
Uma previously testified the same thing
Najib held five accounts with AmBank Zahid Izzani Mohd Said/The Edge in the SRC International Sdn Bhd trial in
between 2011 and 2015. 2019, where she was a witness. Najib, who
Uma said that customers are given the statements is currently serving his 12-year jail sen-
Testifying as the prosecution’s 37th wit- of accounts every month, and they are given 14 tence for embezzling RM42 million into
ness in the 1Malaysia Development Bhd his private accounts after he was found
(1MDB)-Tanore trial, Uma was asked by days to make complaints if there are any disputes. guilty on seven charges, was present in
lead prosecutor Datuk Seri Gopal Sri Ram court on Monday.
about Najib’s bank statements, and wheth- In December 2019, Najib, however,
er he ever complained to the bank about sued former AmBank relationship man-
transactions in the five accounts, includ- ager Joanna Yu Ging Ping over the man-
ing those where he allegedly received huge agement of accounts under his name used
sums of money and also issued cheques. to divert funds from SRC.
The suit — which was filed by Najib’s
Uma responded in the negative. solicitors Messrs Shafee & Co, naming
She said that customers are given the AMMB Holdings Bhd and AmBank Islam-
statements of accounts every month, and ic Bhd as defendants — revolved around
they are given 14 days to make complaints Najib’s AmBank accounts ending 694,
if there are any disputes. 880, 898 and 906, which Najib claimed
Sri Ram: Does your bank have a sys- were managed by AmBank without his
tem where the customer is sent bank state- knowledge.
ments at intervals? In September 2020, the High Court
Uma:Yes, at monthly intervals. threw out Najib’s suit.
Sri Ram: In the case of the accused Read the full story
(Najib), did he ever complain about the
statements of his accounts to the bank?
Uma: As far as my knowledge, even in
the SRC case, I [testified] that there were
no complaints.

KUALA LUMPUR (Sept 12):The 1Ma- 1MDB-Tanore “By 2pm, he (Najib) has to see a doc-
laysia Development Bhd (1MDB)-Tan- trial adjourned tor because his condition is quite bad.The
ore trial at the High Court here on Mon- as Najib seeks prison department (officers) will have to
day (Sept 12) was adjourned at 12.30pm urgent medical take him to [see] a doctor,” Sri Ram told
as former prime minister Datuk Seri Na- Sequerah.
jib Razak had to see a doctor because attention
he was experiencing adverse effects due Sequerah had subsequently allowed
to a change in his high blood pressure by Timothy Achariam & Tarani Palani Najib to seek medical attention and for
medication. theedgemarkets.com the hearing to be adjourned untilTuesday
(Sept 13) morning.
During the court hearing, senior depu- medication has changed and it is having
ty public prosecutor Datuk Seri Gopal Sri an adverse impact on him. Najib is serving a 12-year jail sentence
Ram, who is the lead prosecutor for the in Kajang Prison after the Federal Court
case, told High Court judge Datuk Col- “Therefore he has to go and see a doc- in Putrajaya had on Aug 23 rejected Na-
lin Lawrence Sequerah at about 11.25am tor,” Sri Ram said. jib’s final appeal against his conviction in-
that Najib needed to consult a doctor as volving 1MDB’s former subsidiary SRC
his “condition is quite bad”. Sri Ram had subsequently requested International Sdn Bhd.
that the Monday court proceedings for
Sri Ram told Sequerah that Najib was the 1MDB-Tanore trial to be adjourned The Federal Court, which is Malay-
unwell due to a change in his high blood at 12.30pm. sia’s highest court, had then upheld the
pressure medication and that the change High Court and Court of Appeal’s deci-
is having “adverse effects” on Najib, who The ongoing trial had resumed at sions which found Najib guilty of seven
is also Member of Parliament for Pekan. 10am on Monday with AmBank’s Jalan charges involving SRC.
Raja Chulan branch manager R Uma Devi Read the full story
Malaysian Prison Department officers testifying as the prosecution’s 37th witness Read also: Najib’s admission at HKL an
had informed Sri Ram that Najib had to for the case. elective case not an emergency, says Dr
go and see a doctor at 2pm due to com- Noor Hisham
plications with the former premier’s high
blood pressure medication, according to
the lead prosecutor.

“His (Najib’s) [high] blood pressure

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KUALA LUMPUR (Sept 12): Malaysia Palm tocotrienol made of tocopherols.Vitamin E is impor-
exported palm tocotrienols to a tune of exports hit tant in preserving oil stability, extending
some RM21.55 million or 19.45 tonnes the shelf life as well as contributing to
from January to July this year, said the RM21.55 mil in health benefits,” he said.
Malaysian Palm Oil Board (MPOB). seven months
Meanwhile, Ahmad Parveez said
MPOB director general Datuk Dr — MPOB MPOB has opened up the tocotrienol
Ahmad Parveez Ghulam Kadir said the matching grant — Phase II Clinical
increasing clinical evidence of palm to- Bernama Studies On The Health Benefits of To-
cotrienol benefits is seen to boost the cotrienols — to Malaysian universities,
export value. rienols’ potential value in 2025/2026 is research institutes, and members of the
expected to reach US$522 million. oil palm industry.
“In the Asia Pacific region, the phar-
maceutical, medical food, and clinical Ahmad Parveez’s presentation was So far, 11 projects have been approved,
nutrition markets are predicted to grow rendered by MPOB head of nutrition he noted.
at a faster compound annual growth rate unit, product development, and adviso-
(CAGR) of 11.5% through 2022, fol- ry service division Dr Kanga Rani Sel- “MPOB together with the Malaysian
lowed by dietary and food supplement vaduray. Oil Scientists’ and Technologists’ Associ-
and other applications. Until 2022, rev- ation have been encouraged to put up a
enue from vitamin E tocotrienols is ex- He said palm tocotrienol is a natu- claim for tocotrienols with the Ministry
pected to expand at a CAGR of 23.5%. ral, safe nutraceutical/food ingredient of Health (MOH).
bestowed with a bouquet of health-pro-
“I’m sure this export will be expand- moting effects, namely on combating “After several rounds of discussion,
ing and there is a bright future for to- non-communicable diseases. we have actually gone through the pub-
cotrienol when it comes to pharmaceu- lic comment level and soon tocotrienols
tical,” he said during the “Advances on “In palm oil, 70% of the composition can be claimed as an antioxidant to help
Tocotrienol Research and Development” of vitamin E is tocotrienols, while 30% is reduce oxidative stress as well as improve
webinar on Monday. cognitive functions.

He said the global market size of to- “We are waiting for the letter from the
cotrienols was valued at US$321.5 mil- MOH to allow the industry players to use
lion (RM1.45 billion) in 2018 and tocot- this claim prior to getting it gazetted in
the Malaysian Food Act,” he said.

KUALA LUMPUR (Sept 12): Astro Ma- Astro to invest the proliferation of apps, the OTT space
laysia Holdings Bhd is set to further invest more in local is getting more fragmented and expensive.
in global streaming services on its plat- content, streaming
form, and provide more local content via services — “Customers are not willing to pay for
Astro Originals. group COO multiple streaming service subscriptions
individually, as the costs really start to
Astro group chief operating officer and by Anas Abu Hassan spiral, and it is complex to maintain all
chief executive officer of TV Euan Smith Bernama these subscriptions, and finding what you
said the company is building its growing want to watch is an increasing challenge.
online presence and continuing to look bloomberg
for opportunities to strengthen its digital, “It is why Astro welcomed partner-
broadband and commerce businesses. to fulfil their entertainment needs, paving ships with global OTT players like Net-
the way for streaming platforms. flix, Disney+ Hotstar, iQIYI, TVBAn-
“We will leverage digital, data and ywhere+ and HBO GO, as it aims to
technology to reimagine our business “However, the growing number of aggregate more global streaming servic-
models,” he told Bernama in an exclu- OTT services means that there is increas- es onto its platform.
sive interview here. “Astro will continue ing saturation in the marketplace. With
to invest in its transformation plans, in “We will continue to aggregate more
particular content, broadband, streaming, global streaming services onto our plat-
customer experience, data, addressable form, with beIN Sports content, BBC
advertising and technology infrastructure, iPlayer and ZEE5 already in the pipe-
to simplify our processes.” line,” Smith continued.

Smith said the company aims to make Smith highlighted that Astro is con-
Astro an “incredibly effective machine”, tinuously innovating and launching new
offering the best content via the right products and services that are exciting for
products and platforms that resonate with customers and relevant to today’s needs.
customers.
“We introduced the connected Ultra
“Our goal has not changed. We will and Ulti boxes, so that customers enjoy
continue to bring our customers the best a seamless and uninterrupted viewing
entertainment experience, and to do that, experience,” he added. “No matter rain
we will further enhance the all-new Astro or shine, the Ultra and Ulti hybrid box-
experience by focusing on four touch- es continue to stream, as we know rain
points,” he added. fade was a concern for many customers,
and we are pleased to have resolved it.”
Smith highlighted that Malaysia is
transitioning to over-the-top (OTT) ser- At present, the company has over
vices in a streaming world, with more 600,000 installations of the connected
consumers looking for convenient ways Ultra and Ulti boxes, with access to over
90,000 titles on demand.

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Hengyuan
establishes
RM5 bil MTN
programme,
accepts RM1.3 bil
in revolving
credit facilities

by Izzul Ikram RHB predicts adjacent and complementary assets,” he said.
theedgemarkets.com Sime Darby Bhd Following Sime Darby and IHH’s sepa-
healthcare unit
KUALA LUMPUR (Sept 12):Hengyuan rate Bursa Malaysia filings on Friday (Sept 9)
Refining Co Bhd has established an un- IPO revival on the termination of discussions on IHH’s
rated medium-term notes (MTN) pro- proposal to buy RSDH, Lim said on Mon-
gramme of up to RM5 billion in nomi- by Syafiqah Salim day that RHB made no changes to its Sime
nal value, and accepted RM1.31 billion theedgemarkets.com Darby earnings forecasts although RHB low-
in multi-currency revolving credit (RC) ered its Sime Darby share target price (TP)
facilities. KUALA LUMPUR (Sept 12): RHB Invest- to RM2.55 from RM2.75.
ment Bank Bhd said on Monday (Sept 12) it
In a Bursa Malaysia filing, the crude thinks diversified group Sime Darby Bhd will RHB maintained its “buy” call for Sime
oil refiner said the purpose of the MTN continue to explore all options including an Darby shares.
programme and RC facilities is to refi- initial public offering (IPO) for its 50%-owned
nance its existing loans, fund the medi- associate Ramsay Sime Darby Health Care Looking back, there had been news reports
um-term growth and working capital of Sdn Bhd (RSDH) following the termination on Sime Darby’s planned IPO for RSDH al-
the company, as well as allow Hengyuan of discussions on IHH Healthcare Bhd’s pro- though the proposal was put on hold as Sime
to proceed with its planned upgrade and posal to buy 100% of RSDH from its owners. Darby was looking at various opportunities
maintenance projects for its refinery. to grow its healthcare business.
Ramsay Health Care Ltd owns the remain-
Hengyuan said tranches of the RM5 ing 50% stake in hospital operator RSDH, ac- However, Friday’s news on the termina-
billion MTN programme will be issued cording to RHB analyst Jim Lim Khai Xhiang. tion of discussions on IHH’s proposal to buy
over a tenure of 30 years via bought deal RSDH had again generated investors’ and
or private placement. “We (RHB) gathered that the discussions analysts’ anticipation that Sime Darby may
failed mainly because IHH could not come revive its RSDH IPO plan.
The company said it made an initial to an agreement on the valuations and terms
lodgement for the establishment of the laid out by Sime Darby and Ramsay (RSDH’s At the time of writing on Monday, Sime
MTN programme to the Securities Com- 50:50 owners). Darby had not issued any statement in re-
mission Malaysia on June 30, and subse- sponse to such speculation.
quently relodged last Thursday (Sept 8) “While the outcome is disappointing, we
following certain revisions to the principal understand that Sime Darby is in no rush to Meanwhile, CGS-CIMB Securities Sdn
terms and conditions of the programme. sell RSDH, a non-core business,” Lim wrote Bhd analystTayWee Kuang wrote in a note on
in a note. Monday that RSDH’s portfolio of seven hos-
AmInvestment Bank Bhd and pitals comprising four in Malaysia and three
Maybank Investment Bhd are the joint He said that on March 22, IHH proposed in Indonesia would have added more than
principal advisers, joint lead arrangers, to acquire 100% of RSDH from Sime Darby 1,500 hospital beds to IHH’s end-2021 bed
and joint lead managers of the MTN pro- and Ramsay for an enterprise value (EV) of count of 11,418 beds across key operating
gramme, while Malaysian Trustees Bhd RM5.67 billion, on a cash and debt-free basis. markets Malaysia, Singapore, India,Turkey
is the trustee. and Europe.
The deal implied an EV to earnings be-
Meanwhile, on the RC facilities, fore interest, taxes, depreciation, and amor- Buying RSDH will also give IHH access to
Hengyuan said they comprise a US dollar tisation (EBITDA) ratio of 22 times, in line a new market in Indonesia, according toTay.
facility of up to US$235 million (RM1.06 with recent healthcare transactions valued at
billion) and a ringgit facility of up to between 20 times and 22 times. “We do not foresee any downside risk to
RM250 million offered by AmBank (M) IHH’s earnings with the deal falling through
Bhd, China Construction Bank Corp, La- “We estimated that Sime Darby could have as we have not included contribution from the
buan Branch and Malayan Banking Bhd. received RM2.6 billion from the divestment, potential deal in our earnings forecasts,” said
which we believe would have been used to pay the analyst, who maintained CGS-CIMB’s
“The RC facilities are subject to the a special dividend and reinvested into its core “add” call for IHH shares with an unchanged
approval of Bank Negara Malaysia and motor and industrial divisions, by acquiring TP of RM8.07.
this was received by Hengyuan on Aug
3,” it added. On Monday, IHH’s share price closed up
four sen or 0.65% at RM6.21 while Sime
Shares in Hengyuan finished three sen Darby ended unchanged at RM2.23.
or 0.65% lower at RM4.57 on Monday
(Sept 12), giving the company a market Sime Darby’s diversified businesses include
capitalisation of RM1.37 billion. car dealerships and heavy equipment distribu-
tion, according to the group’s website.

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Govt to discuss Malaysia Debt Finance Forum 2022 and MDV’s 20th-anni-
proposal to offer Ventures, Kapital versary celebration here on Monday (Sept 12).
moratorium to DX team up to
improve fundraising Khairul also highlighted the importance
SMEs soon for tech companies for listed corporates and big conglomerates
in Malaysia to play a more active role in de-
Bernama Bernama veloping the startup funding ecosystem by
investing in funds that are meant to assist lo-
KUALA LUMPUR (Sept 12):The gov- KUALA LUMPUR (Sept 12):Malaysia Debt cal start-ups.
ernment will discuss the proposal to offer Ventures Bhd (MDV) and Kapital DX has
moratorium to small and medium enter- partnered to improve access to fundraising “There is a slowdown of investments
prises (SMEs) with the relevant minis- and investments for technology companies. in Malaysia by investors from Europe and
tries soon. the United States, due to the prolonged
Kapital DX is an Initial Exchange Offer- Ukraine-Russia conflict. In this regard, MDV
Prime Minister Datuk Seri Ismail ing (IEO) platform registered with the Secu- is more than happy to offer our expertise in
SabriYaakob said the discussion will in- rities Commission Malaysia (SC) that allows managing funds for start-ups.
volve the Finance Ministry and the Min- start-ups, growth stage companies, projects,
istry of Entrepreneur Development and private equity firms and venture capitalists to “We more than welcome potential part-
Cooperatives. raise funding of up to RM100 million via the nerships with market players to ensure a ho-
platform in a cost-effective manner. listic growth of our high potential start-ups,”
He said this after launching the Nation- he said.
al Biotechnology Policy 2.0 at the Kuala MDV chairman Khairul Azwan Harun
LumpurWorldTrade Centre on Monday. said the partnership, through a memorandum Khairul also noted that through sheer com-
of understanding with Kapital DX, will be mitment to helping bridge the financing gap
Ismail Sabri was asked to comment among many initiatives that the company has within the entrepreneurial ecosystem, MDV
on the suggestion made by the National planned to strengthen technology companies was able to play a pivotal role in the develop-
Recovery Council chairmanTan Sri Mu- and the start-up funding ecosystem via alter- ment of Malaysia’s ICT, biotechnology, green
hyiddin Yasin for banking institutions to native financing instruments. technology and other high-growth and val-
consider offering moratorium to SMEs, ue-added emerging technology sectors.
especially those still struggling to recover “Most start-up companies still lack expo-
post-Covid-19. sure to new methods of raising funds such as “This can be seen through our achieve-
crowdfunding, peer-to-peer financing, and the ments to date in financing close to 1,000 tech-
Muhyiddin said some of them are still latest IEO which the SC supervises. nology projects with disbursements amount-
unable to recover, coupled with increases ing to RM13.07 billion in various technology
in the Overnight Policy Rate three times “Most of them also still depend on loans areas,” he added.
this year, which are seen to not only affect from financial institutions or government
the momentum of the country’s econom- grants to boost their business potential to a MDV was established in 2002 to provide
ic recovery but also the performances of higher level,” he said during the KLVenture flexible and innovative financing to develop
SMEs, which now contribute to 90% of high-impact and technology-driven sectors of
the country’s economic activities. the economy that were identified and priori-
tised by the Malaysian government as future
engines of growth.
Read also: Startups not excluded by MOSTI
for assistance, financing, says Adham Baba

DOHA (Sept 12): Malaysia and Qatar will Malaysia, Qatar besides organising training courses, with
enhance scientific and practical cooperation in enhance scientific the support of the Malaysian government.
the fight against corruption and share experi- cooperation in fight
ences in enhancing transparency and integrity, against corruption “The Malaysian delegation was briefed
namely in the private sector of both countries. about the Qatari experience in combating
Bernama corruption, and the two sides will work to
President of Qatar’s Administrative Con- enhance scientific and practical coopera-
trol and Transparency Authority (ACTA) During the meeting, both parties re- tion in this regard,” he added.
Hamad bin Nasser Al Misnad expressed viewed the efforts of the two sides in the
this during a meeting with the Malaysian areas of promoting integrity and combating The monument, which appears in the
Anti-Corruption Commission (MACC) corruption, taking into account the simi- form of a steel hand, symbolises that all
delegation led by its Chief Commission- larity in competencies of ACTA and the countries of the world are joining hands
er Tan Sri Azam Baki at his office here on MACC in fields of prevention, training and in the fight against corruption.
Sunday (Sept 11). promotion of integrity in the private sector.
During the meeting, Qatar’s Ministry of
“ACTA welcomes all forms of cooperation Hamad also praised the efforts of the Communications and InformationTechnolo-
with the MACC to introduce a successful MACC in achieving leadership in relevant gy showed a presentation to MACC on digital
Qatari experience in preventing and com- international indicators, as well as its tire- transformation and digital government in the
bating corruption, in addition to exchanging less efforts to enhance integrity and trans- State of Qatar,which aims to upgrade the level
experiences to contribute to enhancing integ- parency in the international community, of governmental services to individuals and
rity and transparency, to serve the interests companies, besides raising the efficiency of
of both sides,” he was quoted as saying by government administrative processes, as well
Qatar News Agency during his meeting with as increasing the level of transparency and
Azam, who is in Qatar to review the oil rich openness of the government to the public.
state experience in the field of anti-corruption Read the full story
and digital government.

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news In brief

BHIC bags RM15.72 mil contract from Mindef to supply naval guns

KUALA LUMPUR (Sept 12): Boustead Heavy Industries Corp Bhd (BHIC) has secured
a RM15.72 million worth of contract from the Ministry of Defence (Mindef) to supply
Bofors 57mm/L70 guns to the Royal Malaysian Navy, as well as provide maintenance
and training for the weapons. The three-year contract was secured by its 51%-owned
BHIC Bofors Asia Sdn Bhd (BBA), which accepted the letter of acceptance from the
government dated Sept 1 for the supplies, BHIC’s Bursa Malaysia filing on Monday
(Sept 12) showed. The remaining 49% in BBA is owned by BAE Systems Bofors
Holdings Sdn Bhd. — by Hailey Chung

Widad wins RM40 mil job for Uzma wins RM17 mil job to provide HWU Prolexus signs MOU with Sirim to
mixed-use development in Langkawi services for Petronas Carigali’s wells explore R&D for waste materials
KUALA LUMPUR (Sept 12): Uzma Bhd’s from textile production
KUALA LUMPUR (Sept 12): Widad Group unit has bagged a RM17 million contract
Bhd has secured a contract worth RM40 from Petronas Carigali Sdn Bhd for the KUALA LUMPUR (Sept 12): Prolexus
million for a mixed-use development in provision of light weight hydraulic workover Bhd has entered into a memorandum of
Langkasuka, Langkawi. In a bourse filing, units (HWU). The oil and gas service and understanding (MOU) with Standards and
it said its wholly-owned subsidiary Widad equipment provider said the scope of work Industrial Research Institute of Malaysia
Builders Sdn Bhd (WBSB) had on Monday comprises the integrated HWU services (Sirim) to grow the company’s sustainable
(Sept 12) received a letter of award and for Petronas Carigali’s abandoned well initiatives, including exploring research
acceptance from Langkasuka Land Sdn campaign at offshore East Malaysia. The and development (R&D) for waste
Bhd for the construction and completion campaign will be for two wells, and work materials from textile production. The
of earthworks for the mixed-development is expected to commence in September apparel manufacturer for international
project. WBSB is principally involved this year, to be completed a month later in sportswear and fashion brands said the
in construction and integrated facilities October. — by Chester Tay objective of the MOU is also for the
management activities. The contract is company to explore the application of
for a period of 10 months, from Sept 22, Aneka Jaringan bags RM46 mil alternative energy using hybrid solar
2022, to July 22, 2023. — by Syafiqah Salim substructure job in Setapak photovoltaic (PV), according to its bourse
KUALA LUMPUR (Sept 12): Aneka Jaringan filing on Monday (Sept 12). Prolexus said
Perak Corp CEO resigns from board Holdings Bhd has bagged a RM46 million the MOU commenced on Monday will
contract that entails piling and substructure remain in force for two years or until the
KUALA LUMPUR (Sept 12): Perak Corp works for a mixed-development project in objectives are completed. — by Hailey
Bhd said its group chief executive officer, Setapak. In a Bursa Malaysia filing on Monday Chung
Zainal Iskandar Ismail, has stepped down (Sept 12), Aneka Jaringan said its wholly
from his position as executive director “to owned subsidiary Aneka Jaringan Sdn Bhd has AirAsia parent to add three A321
pursue other interest”. It is not immediately accepted a letter of acceptance from 59 INC freighters to fleet
clear if Zainal Iskandar, 48, is retaining his Sdn Bhd to be the contractor of the project.
CEO position. Zainal Iskandar’s resignation, The first phase of the project is expected SYDNEY (Sept 12): Capital A Bhd, the
announced in a bourse filing on Monday (Sept to be completed by July 2, 2023 while the parent of budget airline AirAsia, said
12), comes after a slew of resignations by second phase is expected to be completed on Monday (Sept 12) its Teleport cargo
other board members of the PN17 company by Nov 2, 2023. The first phase comprises arm would add three Airbus SE A321
last month. They included chairman Tan Sri a 31-storey block of serviced apartments freighters to its fleet starting in the first
Abdul Rashid Abdul Manaf and independent (Block A) with 303 units, a 29-storey block quarter of 2023. The freighters would be
non-executive director Tan Sri Kunasingam of serviced apartments (Block B) containing leased from BBAM Limited Partnership,
Sittampalam. Perak Corp redesignated vice 310 units, 87 business space units, eight car Capital A said in a statement. Teleport last
chairman Datuk Redza Rafiq Abdul Razak park podium floors, underground parking as year began operating its first freighter, a
as its chairman, following Abdul Rashid’s well as facilities. Meanwhile, the second phase Boeing Co 737-800 based in Bangkok, as
resignation. — by Chester Tay consists of a 29-storey block of serviced the parent company looked to diversify
apartments (Block C) with 310 units, and a revenue and take advantage of a boom
Reservoir Link bags RM17 mil contract 31-storey block of serviced apartments (Block in e-commerce. Francis Anthony, head of
to build a 25MWac solar plant in Perak D) consisting of 303 units. — by Shazni Ong commercial cargo at Teleport, said the
A321s would allow it to serve such key
KUALA LUMPUR (Sept 12): Energy related markets as China from Malaysia, Thailand,
services provider Reservoir Link Energy Indonesia and the Philippines. A321
Bhd’s 51%-owned subsidiary Founder freighters are converted from passenger
Energy Sdn Bhd (FESB) has bagged a RM16.7 aircraft into dedicated cargo carriers.
million contract to undertake a turnkey BBAM last year ordered freighter
construction and commission of a 25MWac conversions of at least 20 of A320s and
large-scale solar photovoltaic plant in A321s through to 2025 in a deal with Elbe
Manjung, Perak. In a bourse filing, Reservoir Flugzeugwerke, a joint venture between
Link said FESB had on Sept 6 received a letter Singapore Technologies Engineering Ltd
of award from Savelite Engineering Sdn Bhd and Airbus. — Reuters
for the proposed project. — by Shazni Ong

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Biden said to hit China with broader
curbs on US chip and tool exports

WASHINGTON (Sept 11):The Biden ad- by Karen Freifeld & Alexandra Alper US national security and foreign policy
ministration plans next month to broaden Reuters interests,” including to keep China from
curbs on US shipments to China of sem- acquiring US technology applicable to mil-
iconductors used for artificial intelligence cesses to put controls in place quickly, but itary modernisation.
(AI) and chip-making tools, several people the letters only apply to the companies
familiar with the matter said. that receive them. KLA, Applied Materials and Nvidia
declined to comment, while Lam did not
The Commerce Department intends Turning the letters into rules would respond to requests for comment. AMD
to publish new regulations based on re- broaden their reach, and could subject did not comment on the specific policy
strictions communicated in letters earlier other US companies producing similar move but reaffirmed it does not foresee a
this year to three US companies — KLA technology to the restrictions. The regu- “material impact” from its new licensing
Corp, Lam Research Corp and Applied lations could potentially apply to compa- requirement.
Materials Inc — the people said, speak- nies trying to challenge Nvidia and AMD’s
ing on the condition of anonymity. The dominance in AI chips. ‘Choke point’
plan for new rules has not been reported The planned action comes as US Presi-
previously. Intel Corp and start-ups like Cerebras dent Joe Biden’s administration has sought
Systems are targeting the same advanced to thwart China’s advances by targeting
The letters, which the companies pub- computing markets. Intel said it is closely technologies where the US still maintains
licly acknowledged, forbade them from ex- monitoring the situation, while Cerebras dominance.
porting chip-making equipment to Chinese declined to comment.
factories that produce advanced semicon- “The strategy is to choke off China,
ductors with sub-14-nanometre processes, One source said the rules could also im- and they have discovered that chips are a
unless the sellers obtain Commerce De- pose licence requirements on shipments to choke point. They can’t make this stuff.
partment licences. China of products that contain the targeted They can’t make the manufacturing equip-
chips. Dell Technologies, Hewlett Pack- ment,” said Jim Lewis, a technology expert
The rules would also codify restrictions ard Enterprise (HPE) and Super Micro at the Center for Strategic and Internation-
in Commerce Department letters sent to Computer make data centre servers that al Studies. “That will change.”
Nvidia Corp and Advanced Micro De- contain Nvidia’s A100 chip.
vices last month instructing them to halt In an update on China-related measures
shipments of several AI computing chips Dell and HPE said they were moni- last week, the Chamber of Commerce, a
to China unless they obtain licences. toring the situation, while Super Micro US business lobbying group, warned mem-
Computer did not respond to a request bers of imminent restrictions on AI chips
Some of the sources said the regula- for comment. and chip-making tools.
tions would likely include additional ac-
tions against China.The restrictions could A senior Commerce official declined “We are now hearing that members
also be changed, and the rules published to comment on the upcoming action, but should expect a series of rules, or perhaps
later than expected. said: “As a general rule, we look to codify an overarching rule, prior to the midterm
election to codify the guidance in recent-
So-called “is informed” letters any restrictions that are in is-in- ly issued (Commerce Department) ‘is-in-
allow the Commerce Department formed letters with a regula- formed’ letters to chip equipment and chip
to bypass lengthy rule-writing pro- tory change.” design companies,” the chamber said.
A spokesperson for the
reuters Commerce Department The group also said the agency plans to
last Friday (Sept 9) de- add additional Chinese supercomputing
clined to comment on entities to a trade blacklist.
specific regulations, but
reiterated that it is “tak- Reuters was first to report in July that the
ing a comprehensive ap- Biden administration was actively discuss-
proach to implement addi- ing banning exports of chip-making tools
tional actions...to protect to Chinese factories that make advanced
semiconductors at the 14-nanometre node
and smaller.

US officials have reached out to allies
to lobby them to enact similar policies, so
that foreign companies would not be able
to sell technology to China that American
firms would be barred from shipping, two
of the sources said.

“Coordination with allies is key to max-
imising effectiveness and minimising un-
intended consequences,” CleteWillems, a
formerTrump administration trade official
said. “This should favour broader regula-
tions that others can replicate instead of
one-off ‘is informed’ letters.”

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BRUSSELS (Sept 12):The European Un- EU readies ported gas, pipeline flows, wholesale gas
ion is set to unveil a package of proposed energy package, trading, or supplies from Russia.
emergency measures this week including countries split
a windfall profit levy on energy firms, but over gas price cap “The majority talking about gas price
countries are split over the details and caps weren’t aligned,” one EU diplomat
whether to impose a cap on gas prices. by Kate Abnett said.
Reuters
At a meeting on Friday, EU countries’ The EU’s 27 member states will need
energy ministers asked the European Com- bloomberg to approve the energy measures, possibly
mission to draft measures to skim off ex- at another emergency meeting of minis-
cess revenues from non-gas power genera- Diplomats said more than half of the ters this month.
tors, cut EU-wide electricity use, and help EU’s member states had made mention of
power firms in need of emergency liquidity. gas price caps in Friday’s meeting — but Russia supplied around 40% of the
with little consensus on what form this EU’s gas before its invasion of Ukraine.
In a bid to pull down soaring energy should take, be it a price cap on all im- That share has plummeted to 9%, as Mos-
bills for citizens and businesses ahead of cow has cut supplies to Europe, blaming
winter, the ministers also asked Brussels the cuts on technical issues caused byWest-
to also propose a gas price cap, accord- ern sanctions.
ing to a meeting summary by the Czech
Republic which holds the EU’s rotating EU ministers ultimately backed away
presidency. from a price cap on Russian gas, which
countries including Hungary and Austria
But with European Commission Pres- had warned could see Moscow cut off the
ident Ursula von der Leyen due to set out dwindling supplies it still sends to the EU.
the bloc’s proposals in a speech onWednes-
day, countries disagree on whether a gas Germany, the Netherlands and Den-
price cap would ease or exacerbate Eu- mark are among those opposed to a gener-
rope’s energy crisis, diplomats said. al gas price cap, warning that it could risk
Europe’s winter energy security by leaving
“On the cost of gas, we continue to work countries struggling to attract supplies in
on answers adapted to a global market,” the price-competitive global market for
von der Leyen said in a tweet on Saturday. liquefied natural gas.

The proposal should lower prices in Others, including Italy and Poland, say
Europe “while guaranteeing security of gas price caps would offer relief to house-
supply”, she added. holds and industries that have been forced
by rocketing gas costs to curb production.

(Sept 12): China confirmed that Xi Jin- China’s Xi Kazakhstan nine years ago and may be
ping plans to travel to Central Asia this Jinping will travel seeking to use the trip to burnish his
week, in what would be the president’s to Central Asia, foreign policy credentials.
first trip aboard since the pandemic hit first overseas trip
more than two years ago. since pandemic The SCO summit is also an oppor-
tunity to connect with a grouping of
Xi will visit Kazakhstan and Uz- Bloomberg countries seen as the region’s answer
bekistan from Wednesday to Friday, to Western-led alliances, at a time when
the Chinese Foreign Ministry said in a reuters China’s relations with the US have be-
statement Monday, confirming earlier come increasingly frayed.Tensions have
reports from those countries. Uzbeki- been high following House Speaker Nan-
stan is hosting the Shanghai Cooperation cy Pelosi’s visit to Taipei last month, with
Organization summit, which will give China launching unprecedented mili-
Xi a chance to meet Russian President tary exercises around the democratically
Vladimir Putin in person for the first ruled island that Beijing considers part
time since Moscow began its invasion of its territory.
of Ukraine in February.
Kazakhstan holds some 40% of the
The trip marks Xi’s return to the world’s known uranium reserves, an in-
world stage spotlight after being the creasingly important resource as devel-
only Group of 20 leader to avoid trave- oped countries turn to atomic energy as
ling outside his country since the world’s a longer-term source of power. It also
first Covid lockdown began in January borders Xinjiang, where Beijing has been
2020. Besides a visit the Chinese terri- accused of aggressive policies to suppress
tory of Hong Kong in July, Xi will have its ethnic minority populations, includ-
gone without leaving his country’s strict ing millions of mostly Muslim Uyghurs.
Covid Zero regime for some 970 days.
In January, Xi said he firmly opposed
The Central Asian tour comes barely forces that undermined Kazakhstan’s
a month ahead of the twice-in-a-decade stability, after mass protests over spikes
party congress, where the Chinese leader in fuel prices.
is expected to take a precedent-break- Read also: China to roll out more meas-
ing third term. Xi launched the global ures to stabilise economy — state media
trade-and-infrastructure plan that would
become the Belt and Road Initiative in

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Depleting reserves spell risks for
emerging Asian currencies

bloomberg

by Subhadip Sircar
Bloomberg

(Sept 12): Emerging Asian central banks ening spurred flows back to the US. Any Part of the decline was also due to dollar
have seen a sharp depletion in their for- indication of a slowdown in market inter- strength eroding the value of other curren-
eign-exchange reserves, stoking concerns ventions may exacerbate losses for Asian cies held in reserves.
it may crimp market interventions to curb currencies, many of which hit record or
currency losses in the face of the mighty multi-year lows recently. “On current burn rates, Thailand re-
dollar. mains worrying as does Philippines, India,
Central bank interventions may also see Indonesia, and even Malaysia is becoming
A closely-watched measure of reserves a change — from dollar sales to purchas- a bigger concern than it was earlier,” said
cover — the number of months of imports es — as their focus is likely to shift from Vishnu Varathan, head of economics and
a country can finance with its foreign-ex- containing imported inflation to boosting strategy at Mizuho Bank Ltd in Singapore.
change holdings — has dropped to about export competitiveness if Asia’s exports
seven for EM Asia ex-China, the lowest come under pressure, said Devesh. Still, emerging Asian markets remain in
since the global financial crisis in 2008, better shape than in previous crises having
according to Standard Chartered Plc. It Using the drop in reserves as a proxy built up higher buffers. Investors have been
was about 10 months at the beginning of for FX intervention, India and Thailand turning to these markets in recent months,
the year and as high as 16 in August 2020, have been among the most aggressive, with optimistic they can offer faster growth, pol-
pointing to an erosion of developing nation reserves declining by about US$81 bil- icy support and potentially higher returns.
firepower to defend currencies. lion and US$32 billion, respectively, this
year. Reserves dropped by US$27 billion The dollar surge has led to China’s yuan
“The deterioration indicates that central in South Korea, US$13 billion in Indone- edging close to the key 7 level, while the
bank intervention to support local curren- sia and US$9 billion in Malaysia. risk-sensitive Korean won weakened to levels
cies might be much more limited going for- not seen since 2009.The Indian rupee and
ward,” Divya Devesh, head of Asean and the Philippine peso hit record lows recently.
South Asia FX research at Standard Char-
tered in Singapore said last week. “Overall, Authorities in the region have ratcheted
we expect central banks’ FX policy to turn up their verbal interventions. Bank of Japan
less supportive.” Governor Haruhiko Kuroda last week joined
a number of officials expressing concern over
Thailand saw the biggest drop in reserves sudden moves in the yen. Reserve Bank of
as a percentage of the gross domestic prod- India Governor Shaktikanta Das said the
uct, followed by Malaysia and India, accord- authority is in the currency market almost
ing to data compiled by Bloomberg. Reserves everyday, while the Bank of Korea said it will
cover about nine months of imports for In- take active stabilization measures.
dia, six for Indonesia and less than four for
Malaysia, Standard Chartered said. “They are between a rock and a hard
place,” saidVarathan.“The conspiracy of bull-
Central bankers across emerging Asia ish dollar, recession risks, and elevated infla-
have relied on reserves to protect their tion exacerbated by exogenous price shocks
currencies against a resurgent dollar as means that EM Asia central banks cannot
aggressive Federal Reserve policy tight- assume that the worst risks are behind us.”

Read also: Bailout euphoria signals peak
of pessimism in emerging markets

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Tech rally haunted by ‘palpable fear’
of chip industry weakness

by Jeran Wittenstein
Bloomberg

(Sept 12): Technology stocks are tread- ing process and chip buyers are acutely for chip-related companies in the S&P
ing on shaky ground despite last week’s concerned about a recurrence of sup- 500 are projected to be flat in 2023,
rally as chipmakers signal more trouble ply-chain shortages that arose after the down from expectations of 12% growth
may be ahead in an industry notorious Covid-19 pandemic caused demand to just three months ago, according to data
for its booms and busts. soar, making the industry’s orders an in- compiled by Bloomberg Intelligence. By
dicator of future demand for electronics contrast, profits for the broader infor-
Semiconductor shares have been tum- and other goods. mation technology sector are projected
bling amid a series of corporate warnings to expand 6%, down from 11% over the
about slowing demand for chips that are Nvidia, which makes graphics pro- same span.
used in an array of electronic devices such cessors used in personal computers and
as mobile phones.The Philadelphia sem- data centres, has lost more than half of Morgan Stanley analyst Joseph Moore
iconductor index has slumped 11% over its market value this year amid a rout in said last week he sees increasing chal-
the past four weeks, underperforming the stocks with lofty valuations. The stock, lenges for chipmakers with inventories
7% decline in the Nasdaq 100, with lag- however, remains a favourite for retail on the rise. “We expect every sector to
gards such as Nvidia Corp hitting lows investors who have made more than show some degree of inventory correction
for 2022. US$600 million in net purchases over in the next 12-18 months,” he wrote in a
the past two weeks, according to research research note, referring to the semicon-
Investors are concerned that slowing firm Vanda. ductor industry.
orders that are already plaguing makers
of memory chips and other components Adding to the pain is the Biden ad- Depressed valuations
used in personal computers may spread ministration’s moves to restrict China’s Bullish investors argue that most of the
to the rest of the semiconductor industry. access to chipmaking equipment. The bad news is already priced in, creating
Adding to those worries are the Biden US is planning to broaden curbs on its an opportunity to buy chipmakers at
administration’s focus on curbing chip shipments of semiconductors for artificial depressed valuations. The chip index is
exports to China and a Federal Reserve intelligence and chipmaking tools to Chi- priced at 15 times earnings projected over
bent on aggressive interest-rate hikes to na, Reuters reported, citing unidentified the next 12 months, down from a high of
snuff out inflation. people familiar with the matter. 24 in January 2021, and below the aver-
age of 16 over the past decade.
“There’s a palpable fear that the sem- China restrictions
iconductor cycle has begun to turn neg- The Commerce Department planned to However, the last time the Fed em-
ative and demand is slowing,” said Jason publish new regulations based on restric- barked on a similar tightening campaign
Benowitz, a senior fund manager at Roo- tions communicated in letters to KLA in 2018, causing technology stocks to cra-
sevelt Investment Group in NewYork. “If Corp, Lam Research Corp and Applied ter, the Philadelphia semiconductor in-
the downturn turns out to be deeper and Materials Inc.The agency banned them dex didn’t bottom out until the multiple
longer and more broad, then we would from exporting chipmaking equipment fell to 11.
expect technology to also underperform.” to factories in China that produce 14-na-
nometre or more advanced semiconduc- Citigroup Inc’s Christopher Danely
The tech selloff since mid-August is a tors, unless the sellers obtain licences, sees parallels with a semiconductor slump
reversal from two months ago when the Bloomberg News reported in July. about a decade ago. “We remain cautious
sector led a rebound in the S&P 500 amid on semis and believe this downturn is
optimism inflation was topping out, a sce- Analysts have slashed profit estimates similar to the 2011/2012 downturn, due
nario that traders believed would give the for semiconductor companies more than to multiple contraction, demand contrac-
Fed flexibility to slow its rate hikes.That other parts of the tech sector. Earnings tion and inventory correction,” he said.
optimism was squelched on Aug 26 by
central bank chief Jerome Powell, who
used his Jackson Hole speech to push
back against the idea that it would soon
reverse course.

Samsung Electronics Co added to con-
cerns last week after a senior executive
at the world’s largest chipmaker said the
outlook for the second half of the year is
gloomy and it isn’t seeing momentum for a
recovery in 2023.That followed weak sales
forecasts from companies such as Micron
Technology Inc andWestern Digital Corp.

Supply chains
Semiconductors take months to go
through a complicated manufactur-

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Crypto exchange assets,” the firm said in a statement dated reuters
Huobi to delist Sept 11. The tokens that will be delisted
privacy tokens on Sept 19 include zcash, monero, dash, Global
including zcash decred, firo, and verge. reinsurers see

by Muyao Shen Unlike bitcoin or ether, privacy tokens inflation,
Bloomberg such as monero are designed to avoid track- war driving
ing. Privacy is a key objective of many cryp- higher rates
NEWYORK (Sept 12): Huobi, once one of to proponents, however, there have been
the largest Chinese cryptocurrency exchanges, increased regulatory concerns in the digi- by Miranda Murray
will delist a number of privacy-focused tokens tal-asset privacy sector. & Carolyn Cohn
including zcash and monero amid rising reg- Reuters
ulatory concern worldwide. The US Treasury Department’s Office
of Foreign Assets Control accused Tornado BERLIN/LONDON (Sept 12):
“Huobi Global strictly complies with the Cash, a project to mask crypto transactions, of Global geopolitical tensions, high
compliance policies of every country and laundering more than US$7 billion (RM31.5 inflation, and climate change have
always endeavours to safeguard our users’ billion) of tokens since it was created in 2019. heightened demand for risk protec-
The agency sanctioned not only digital wallets tion and will lead to increased pre-
associated withTornado Cash, but code run- miums, top reinsurers said at the in-
ning on blockchains known as smart contracts. dustry’s annual gathering in Monte
Carlo.
Huobi recently secured a licence from the
financial watchdog in the BritishVirgin Islands Reinsurers insure the insurers
to operate a crypto exchange there. and have been pushing up premi-
ums in recent years as they have
BEIJING/SHANGHAI/SINGAPORE (Sept Prada cuts ties faced higher losses.
12): Global brands including luxury fashion with Chinese star
house Prada SpA and healthcare company held in prostitute “On top of impacts from Cov-
Haleon plc have cut ties with star Chinese ac- id-19 and increasing losses from nat-
tor and singer Li Yifeng, who was detained scandal ural catastrophes, the reinsurance
on prostitution charges as the government industry is now confronted with is-
continues a crackdown on the entertainment by John Liu, Luz Ding, sues like inflation, risk of recession,
industry. Wenjin Lv & Low De Wei and geopolitical tensions,” Moses
Ojeisekhoba, Swiss Re’s chief ex-
Li, 35, was arrested by Beijing police on Bloomberg ecutive officer reinsurance, said in
charges of “soliciting prostitution on multiple a statement on Monday.
occasions”, and reportedly confessed to the bloomberg
allegation, according to a Weibo post by the “As we see cost drivers acceler-
Beijing Municipal Public Security Bureau and Chinese actor and singer Li Yifeng. ating in this dynamic risk environ-
a report by state-run CCTV. ment, insurance premiums must be
Li was previously recognised by the author- carefully calibrated to keep pace,”
His detention was followed by a series of in- ities as he played the role of Mao Zedong in he added.
ternational and Chinese companies announc- “The Pioneer”, a patriotic movie released in
ing they have terminated all business relations 2021 to celebrate the China Communist Par- Reinsurers meet their insurance
with the actor, including Prada, for which he ty’s 100th anniversary. He has also appeared in clients in Monte Carlo to hammer
was a brand ambassador. Sensodyne, a tooth- multiple promotional videos for government out contracts ahead of the key Jan 1
paste unit of UK-based Haleon, and Zhen- agencies, including the Ministry of State Secu- reinsurance renewal season.
guoli, a beverage brand of dairy giant China rity and the Supreme People’s Procuratorate.
Mengniu Dairy Co, also severed ties with Li. Rates could rise in the “mid-sin-
With over 60 million followers on theTwit- gle digit” per cent range, S&P ana-
Chinese authorities often tout confessions ter-like Weibo social media platform, Li was lysts said last week, while a Moody’s
by the accused in high-profile cases, which involved in the boycott of Hugo Boss AG over customer survey showed expecta-
the US, UK, and other human rights advo- its pledge not to use cotton produced in Xin- tions for double-digit rate rises in
cates have long cited as evidence of coercion jiang over concerns it is made with forced la- US property reinsurance.
or torture. Some of those cases have involved bour by Muslim-minority Uyghurs.
vice crimes like prostitution, such as American
venture capitalist and Weibo opinion maker
Charles Xue, who disappeared in 2013 and
was released after state television ran a taped
statement in which he admitted to hiring
prostitutes.

China has ordered sweeping actions to
clean up the entertainment industry, with
the broadcast regulator moving to ban film
stars with “incorrect” politics, cap salaries,
and rein in celebrity fan culture. Star pianist
LiYundi was arrested for soliciting a prostitute
in October 2021 as part of the wider crack-
down on the sector. He has not been seen in
public since.

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news In brief

Real estate holdings drop by record New Zealand ends most Covid-19 restrictions as pandemic worry eases
US$322 bil in Canada
SYDNEY (Sept 12): New Zealand scrapped mask wearing rules and vaccine
(Sept 12): Canadian households mandates on Monday (Sept 12), bringing an end to some of the toughest Covid-19
experienced a decline of almost C$1 pandemic rules in the world about two years after they were put in place. Prime
trillion (US$775 billion) in net worth in the Minister Jacinda Ardern said in a weekly news conference that it was time to
second quarter amid plunging prices for safely turn the page on the country’s Covid-19 management and live without the
homes and stocks. The value of residential extraordinary measures it previously used. All mask wearing requirements were
real estate holdings held by households removed, except in healthcare and aged care facilities. Only Covid-19 positive
fell by C$419 billion in the three months individuals will be required to isolate for seven days, while household contacts
between April and June, while financial no longer need to, the government said in a statement. All government vaccine
assets dropped by C$531 billion, Statistics mandates will also be scrapped on Sept 26, Ardern said, adding that employers
Canada reported Monday in Ottawa. In will now decide whether or not they require their workforce to be vaccinated. The
total, household net worth fell 6.1%, or government will also remove all vaccination requirements for incoming travellers
C$990 billion, the largest drop on record. and air crew. — Reuters
The numbers illustrate the extent to which
higher global interest rates are destroying CATL’s battery rival starts gauging Japan govt to waive tourist visa
household wealth in Canada, adding a demand for US$2 bil Hong Kong IPO requirements as part of border
major headwind to the nation’s slowing easing — FNN
economy. The average resale price of a (Sept 12): Chinese battery maker CALB
home dropped by 10.5% from the first Co has started gauging investor demand TOKYO (Sept 12): Japan’s government
quarter, the statistics agency said. That for its US$2 billion Hong Kong initial is planning to waive tourist visa
drag on net worth from housing is likely public offering. The Jiangsu-based requirements from some countries as
to persist into the second half of this year, lithium battery maker, a competitor for part of a further easing of border controls
with Canadian home prices still falling and bellwethers Contemporary Amperex enacted to stop the spread of Covid-19,
borrowing costs expected to rise further. Technology Co and BYD Co, will assess Fuji News Network (FNN) reported on
— Bloomberg demand for its shares from Sept 12 to 22, Monday (Sept 12). Prime Minister Fumio
according to terms of the deal obtained by Kishida may decide as early as this week
Bangladesh caps exchange rates for Bloomberg. CALB is considering seeking as on the easing, which would also allow
export, remittance inflows much as US$2 billion including an over- individual travellers to visit Japan without
allotment option, people familiar with travel agency bookings, FNN reported.
(Sept 12): Bangladesh capped exchange the matter told Bloomberg on Friday. A Japan did not require tourist visas for
rates for remittances and export proceeds successful fundraising could put it among 68 countries and regions before the
to curb volatility in the foreign-exchange the biggest IPOs in Hong Kong this year, pandemic. The government may scrap
market. Banks will offer a maximum rate of led by China Tourism Group Duty Free a daily cap on arrivals by October, the
108 taka against the dollar for remittances Corp, which is seeking a US$2.1 billion Nikkei newspaper reported on Sunday.
and 99 taka for export proceeds from listing, according to data compiled by Japan last week raised the daily ceiling of
Monday, the central bank said. “The new Bloomberg. The Chinese company ranked inbound travellers to 50,000 from 20,000
uniform rates will bring discipline to the sixth by sales in the global electric-vehicle and eliminated a requirement for pre-
foreign exchange market,” spokesman battery market in July, overtaking South departure Covid tests, easing what have
Serajul Islam said by phone Monday. “Now Korea’s Samsung SDI Co, according been among the most restrictive border
we’ll monitor if the foreign-exchange to data released by Seoul-based SNE measures among major economies. —
dealers and banks are following the new Research last week. — Bloomberg Reuters
rates.” Bangladesh is stepping up measures
to protect its currency, after a shortage of Typhoon Muifa heads for Asia’s Reuters
dollars pushed the taka to a record low of largest port of Shanghai
97.45 to the greenback last month. This Typhoon Muifa follows close on the heels
prompted traders to turn to the so-called (Sept 12): Asia’s largest container of Super Typhoon Hinnamnor, which
kerb, or underground market, where the shipping hub may face another major
taka dropped past 100 per dollar. For storm as Typhoon Muifa bears down on brushed past the vital shipping hub last
importers, the exchange rate will be the Shanghai and nearby Ningbo. The US week, temporarily closing Shanghai’s major
weighted average of the maximum rates, Joint Typhoon Warning Center projects
plus 1 taka. — Bloomberg the typhoon’s path will hit the ports on container port of Yangshan.
China’s east coast Wednesday (Sept 14). with maximum wind gusts of 120 miles
The storm follows close on the heels (193km) per hour, according to the US
of Super Typhoon Hinnamnor, which warning centre. — Bloomberg
brushed past the vital shipping hub last
week, temporarily closing Shanghai’s
major container port of Yangshan.
Typhoon Muifa is currently located
east of Taiwan, headed northward

T U E S D A Y S E P T E M B E R 1 3 , 2 0 2 2 21 T H E E D G E C E O M O R N I N G B R I E F

WORLD

Baltic Exchange shipping updates

A weekly round-up of tanker and dry bulk market (Sept 9, 2022)

CAPESIZE

The Capesize sector spent the week trun- port in the Asian arena. As the week closed tended cargo of cement at US$20,000.
dling along the market floor as the last few there was a a widening gap between own- A 36,000-dwt open in South Korea fixed
day’s brief revival of rates was quickly wiped ers’ and charterers’ expectations in Asia. for two to three laden legs at US$17,000
out, returning the 5TC back to US$5,000- Period activities remained subdued but and a 37,000-dwt in Machong fixed for
US$6,000 (RM22,489-RM26,987) OPEX a 58,000-dwt open Japan fixed for one three to five months at US$18,500.
levels. On a more positive note, the Atlan- year’s trading at US$18,000. From the CLEAN
tic basin has begun to see a little more fix- Atlantic it was a relatively slow week. A For the Middle East clean market it was
ture activities with both Transatlantic and scrubber fitted 63,000-dwt fixed a trip muted compared with last week.TC1 saw
Fronthaul from eastern Canada trades be- delivery US Gulf redelivery India in the marginal gains over the week toWS280 (a
ing heard.This helped flatten off the down- mid US$20,000s. Elsewhere, a 57,000- TCE of US$63,676 per day). A similar
ward momentum and may even lead to an dwt fixed delivery east Mediterranean run on the LR2 going west,TC20, rose by
uptick in rates with the tight tonnage levels redelivery South Korea at US$17,000. just over US$140,000 per day ending at
in the area.TheTransatlantic C8 closed up From Asia, there was limited support but US$543,333 per day.
US$689 to US$3,411 to end the week. In a 55,000-dwt was fixed delivery Singa-
the Pacific, the trade continued to price in pore trip via Indonesia redelivery China at TC15 Skikda-Japan on the LR2s saw a
the US$5,000-US$10,000 range. Flurries US$17,000. A bit more activities surfaced little improvement again, rising week-on-
of fixing activities from miners were fol- from the Indian Ocean. A 52,000-dwt week to US$4.37 million by the end of the
lowed by their shops closing up for several fixed delivery Chittagong redelivery West week.There was little gain in overallTCE
days, leading the market silence to become Africa at US$15,000. A 63,000-dwt fixed but a marked improvement from last week.
deafening. The Transpacific closed down delivery west coast India via Arabian Gulf TheTC5 55kt Middle East Gulf to Japan
-US$27 to US$7,150 to end the week.There redelivery Bangladesh at US$16,000. All saw a jump ofWS25.71 points, settling on
are some who still retain a little optimism in eyes are focussed on the upcoming week a firm footing and ending atWS330.71 at
the market for a substantial bump in values to see if there will be a change in direction. weeks end. The MRs saw the worst of it,
yet they are few and far between.The third HANDYSIZE losing a marginal WS7.5 points, but still
quarter (3Q) has been a disaster quarter for With a rejuvenation in east coast South sitting high atWS520 with aTCE per day
Capesize vessels and we can all only hope America, the fortune of the BHSI of US$58,468.
a traditional 4Q lift is around the corner. changed and positivity returned for the
PANAMAX first time in weeks. Brokers spoke of more Handymax routes in both the Mediter-
Following successive weeks of a dire mar- enquiries and a lower draft in the Riv- ranean and the Baltic did opposite shifts
ket for players, some impressive gains were er Plate being partially responsible. A with the Mediterranean gainingWS17.82
made in the Panamax market as the grain 38,000-dwt was fixed for trip from Re- points to finish just atWS180.63.This was
markets in both EC South America and calada to Ireland at US$23,000. In Eu- a relatively healthy gain on the week off
NoPac came alive.The Atlantic began the rope, there remained a lack of visible ac- the back of decent activities. The Baltic
week slowly. However, by midweek a tight tivities, but a 38,000-dwt was fixed for a route, meanwhile, saw a drop ofWS18.57
tonnage count for end September/early Oc- trip from the continent to the US Gulf at finishing at WS347.14.
tober arrivals in the South gave rise not just US$13,500. A 30,000-dwt, meanwhile,
to the Fronthaul trips, but alsoTransatlantic was rumoured to have fixed a trip from La The MRs on the continent had anoth-
trips with Mediterranean positions getting Pallice to southeast Africa at US$13,500. er good week with both the Transatlantic
hit at close to their offers.This is despite a In Asia there has been a more balanced and west African routes seeing gains of
relatively submissive mineralTransatlantic market. A 32,000-dwt was fixed from aroundWS30 points.TheTC19 closed at
market.TheTransatlantic route proceeded China to the west coast USA with an in- WS240.71 and TC2 at WS231.94.
to yield in excess of a US$5,000 gain week-
on-week. Asia also saw remarkable gains. Read the full report
Indonesia coal demand remained strong all
week with rates here slowly building. Ships
delaying from last week’s typhoon, accom-
panied by a NoPac grain frenzy, lent sup-
port to tonnage in the north.There was talk
at the end of the week of over US$20,000
being achieved for a NoPac round.
ULTRAMAX/SUPRAMAX
A mixed week overall with a lack of fresh
enquiries in the Atlantic and limited sup-

T U E S D A Y S E P T E M B E R 1 3 , 2 0 2 2 22 T H E E D G E C E O M O R N I N G B R I E F

MARKETS

CPO RM 3,683.0089.00 OIL US$ 93.790.95 RM/USD 4.5027 RM/SGD 3.2276 RM/AUD 3.0945 RM/GBP 5.2646 RM/EUR 4.5692

Top 20 active stocks

NAME VOLUME CHANGE CLOSE YTD MARKET
(MIL) (RM) CHANGE CAP
(%) (RM MIL)

METRONIC GLOBAL BHD 290.10 -0.005 0.030 -75.43 45.9

CSH ALLIANCE BHD 182.80 0.005 0.045 -52.63 62.2

SNS NETWORK TECHNOLOGY BHD 109.50 0.020 0.280 0.00 451.6

VELESTO ENERGY BHD 106.40 0.015 0.100 -16.67 821.6

TOP GLOVE CORP BHD 59.20 0.025 0.820 -68.34 6,566.0

TANCO HOLDINGS BHD 57.40 0.015 0.300 25.00 530.0

AIMFLEX BHD 42.80 0.005 0.130 -10.34 191.0

DAGANG NEXCHANGE BHD 42.10 0.020 0.845 11.18 2,667.1

UMEDIC GROUP BHD 41.30 0.110 0.890 0.00 332.8 World equity indices

CORAZA INTEGRATED TECHNOLOGY 40.50 0.060 0.875 0.00 374.8

MY EG SERVICES BHD 37.70 0.020 0.855 -20.09 6,310.3 CLOSE CHANGE CHANGE CLOSE CHANGE CHANGE

AGMO HOLDINGS BHD 36.20 0.045 1.010 0.00 328.3 (%) (%)
DOW JONES 32,151.71 377.19 1.19 INDONESIA 7,254.46 11.81 0.16
CENGILD MEDICAL BHD 34.60 0.035 0.570 0.00 466.7

CNERGENZ BHD 33.60 0.020 1.040 0.00 517.9 S&P 500 4,067.36 61.18 1.53 JAPAN 28,542.11 327.36 1.16

TA WIN HOLDINGS BHD 23.60 0.000 0.060 -52.00 205.4 NASDAQ 100 12,588.29 267.10 2.17 KOREA 2,384.28 7.82 0.33

EA HOLDINGS BHD 20.10 0.005 0.010 -50.00 64.5 FTSE 100 7,447.56 96.49 1.31 PHILIPPINES 6,715.75 109.75 1.66

NWP HOLDINGS BHD 19.90 0.015 0.240 -2.04 129.4 AUSTRALIA 6,964.46 70.29 1.02 SINGAPORE 3,274.72 11.77 0.36

WIDAD GROUP BHD 19.90 0.000 0.355 -2.74 977.1 CHINA 3,262.05 26.47 0.82 TAIWAN 14,807.43 224.01 1.54

HIBISCUS PETROLEUM BHD 19.60 0.010 0.995 22.09 2,002.4 HONG KONG 19,362.25 507.63 2.69 THAILAND 1,665.74 11.12 0.67

JADE MARVEL GROUP BHD 18.80 -0.020 0.235 -64.39 77.1 INDIA 60,115.13 321.99 0.54 VIETNAM 1,249.62 0.84 0.07

Data as compiled on Sep 12, 2022 Source: Bloomberg Data as compiled on Sep 12, 2022 Source: Bloomberg

Top gainers (ranked by %) Top losers (ranked by %)

NAME CLOSE CHANGE VOLUME YTD MARKET NAME CLOSE CHANGE VOLUME YTD MARKET
(%) (‘000) CHANGE CAP (%) (‘000) CHANGE CAP
(%) (RM MIL) (%) (RM MIL)

PEGASUS HEIGHTS BHD 0.010 100.00 247.9 0.00 108.2 ANZO HOLDINGS BHD 0.010 -33.33 1,078.0 -66.67 11.2

EA HOLDINGS BHD 0.010 100.00 20,110.1 -50.00 64.5 AT SYSTEMATIZATION BHD 0.010 -33.33 605.9 -66.67 60.0

SCOMI ENERGY SERVICES BHD 0.020 33.33 112.2 -63.64 9.4 FOCUS DYNAMICS GROUP BHD 0.015 -25.00 2,400.7 -62.50 95.6

DGB ASIA BHD 0.020 33.33 65.4 -33.33 35.7 DOLOMITE CORP BHD 0.015 -25.00 3.0 -50.00 8.9

MLABS SYSTEMS BHD 0.020 33.33 13,044.2 -33.33 29.0 APB RESOURCES BHD 0.955 -19.07 4,284.5 34.51 105.9

ZEN TECH INTERNATIONAL BHD 0.025 25.00 2,164.3 -78.26 20.2 BARAKAH OFFSHORE PETROLEUM 0.025 -16.67 138.5 -68.75 25.1

IMPIANA HOTELS BHD 0.025 25.00 105.0 -66.67 36.1 KEY ASIC BHD 0.030 -14.29 846.7 -57.14 40.9

SANICHI TECHNOLOGY BHD 0.030 20.00 688.8 20.00 42.1 FAST ENERGY HOLDINGS BHD 0.030 -14.29 150.0 -68.42 22.1

K SENG SENG CORP BHD 0.580 18.37 375.7 -13.00 75.2 METRONIC GLOBAL BHD 0.030 -14.29 290,057.5 -75.43 45.9

VELESTO ENERGY BHD 0.100 17.65 106,405.8 -16.67 821.6 S&F CAPITAL BHD 0.065 -13.33 20.0 -27.78 35.8

GOLDEN LAND BHD 0.385 16.67 0.6 -7.23 82.6 META BRIGHT GROUP BHD 0.075 -11.76 1,200.0 5.34 146.1

LYC HEALTHCARE BHD 0.220 15.79 1,511.2 -20.00 112.4 KANGER INTERNATIONAL BHD 0.040 -11.11 9,497.5 -80.00 24.1

ECONPILE HOLDINGS BHD 0.185 15.63 10,136.5 -43.08 262.2 GREEN PACKET BHD 0.040 -11.11 1,241.3 -50.00 63.8

EA TECHNIQUE M BHD 0.040 14.29 115.0 -50.00 21.2 SMTRACK BHD 0.040 -11.11 8,606.5 -78.95 34.1

MMAG HOLDINGS BHD 0.040 14.29 82.0 -46.67 68.1 THRIVEN GLOBAL BHD 0.125 -10.71 31.0 -13.79 68.4

UMEDIC GROUP BHD 0.890 14.10 41,260.2 0 332.8 SERSOL BHD 0.100 -9.09 476.9 -53.70 54.4

DESTINI BHD 0.085 13.33 8,453.0 -52.78 141.4 JOHAN HOLDINGS BHD 0.050 -9.09 7.0 -41.18 58.4

SAUDEE GROUP BHD 0.045 12.50 529.1 -18.18 44.6 KSL HOLDINGS BHD 0.770 -8.33 650.4 16.67 783.3

CSH ALLIANCE BHD 0.045 12.50 182,832.8 -52.63 62.2 MINDA GLOBAL BHD 0.055 -8.33 607.60 0 72.7

MTOUCHE TECHNOLOGY BHD 0.045 12.50 44.0 -50.00 41.7 PAN MALAYSIA HOLDINGS BHD 0.055 -8.33 1043.1 -31.25 51.1

Data as compiled on Sep 12, 2022 Source: Bloomberg Data as compiled on Sep 12, 2022 Source: Bloomberg

Top gainers (ranked by RM) Top losers (ranked by RM)

NAME CLOSE CHANGE VOLUME YTD MARKET NAME CLOSE CHANGE VOLUME YTD MARKET
(RM) (‘000) CHANGE CAP (RM) (‘000) CHANGE CAP
(%) (RM MIL) (%) (RM MIL)

MALAYSIAN PACIFIC INDUSTRIES 29.900 0.700 268.0 -39.42 5,947.0 NESTLE MALAYSIA BHD 131.000 -0.900 44.1 -2.38 30,719.5

IMASPRO CORP BHD 4.950 0.450 13.9 99.60 396.0 PANASONIC MANUFACTURING 25.420 -0.360 10.5 -12.04 1,544.2

PETRONAS DAGANGAN BHD 21.860 0.280 82.7 6.12 21,716.9 KUALA LUMPUR KEPONG BHD 22.000 -0.320 1,321.1 1.01 23,719.4

RAPID SYNERGY BHD 13.540 0.240 22.3 36.08 1,447.4 BATU KAWAN BHD 22.500 -0.300 11.8 -0.88 8,855.1

PMB TECHNOLOGY BHD 4.180 0.200 2,491.7 70.20 5,231.3 APB RESOURCES BHD 0.955 -0.225 4,284.5 34.51 105.9

HONG LEONG BANK BHD 21.060 0.180 1,790.2 13.10 45,652.1 FRASER & NEAVE HOLDINGS BHD 22.360 -0.140 67.6 -9.62 8,201.2

GREATECH TECHNOLOGY BHD 3.670 0.150 2,006.6 -45.47 4,595.3 CHIN TECK PLANTATIONS BHD 8.250 -0.130 12.5 19.78 753.7

SAM ENGINEERING & EQUIPMENT 4.970 0.150 1,247.7 -11.25 2,691.7 AMWAY MALAYSIA HOLDINGS BHD 5.000 -0.120 0.2 -6.70 821.9

SHANGRI-LA HOTELS MALAYSIA BHD 3.600 0.150 69.5 8.43 1,584.0 DUTCH LADY MILK INDUSTRIES 32.100 -0.100 6.1 -4.24 2,054.4

VITROX CORP BHD 7.450 0.150 55.0 -25.20 7,037.6 KESM INDUSTRIES BHD 7.100 -0.100 12.3 -42.18 305.4

FRONTKEN CORP BHD 2.860 0.140 2,484.1 -28.50 4,497.1 PRESS METAL ALUMINIUM 4.910 -0.090 2,514.3 -15.05 40,456.5

LGMS BHD 1.430 0.140 12,534.9 0.00 652.1 CHIN HIN GROUP BHD 2.510 -0.080 1,319.7 92.34 4,441.2

UNITED PLANTATIONS BHD 15.300 0.140 140.0 11.63 6,323.5 KLUANG RUBBER CO MALAYA BHD 3.930 -0.070 0.2 -0.76 245.1

MALAYSIA AIRPORTS HOLDINGS 6.100 0.130 976.7 2.01 10,121.1 KSL HOLDINGS BHD 0.770 -0.070 650.4 16.67 783.3

HONG LEONG FINANCIAL GROUP 19.420 0.120 233.1 12.00 22,240.6 HEINEKEN MALAYSIA BHD 23.960 -0.060 98.2 14.97 7,238.3

UMEDIC GROUP BHD 0.890 0.110 41260.2 0 332.8 PETRONAS CHEMICALS GROUP 8.890 -0.050 2,817.5 -0.34 71,120.0

D&O GREEN TECHNOLOGIES BHD 4.130 0.100 1,952.9 -30.00 5109.7 GAMUDA BHD 3.940 -0.040 5386.6 35.86 10208.8

AYER HOLDINGS BHD 6.300 0.100 17.5 12.70 471.6 TA ANN HOLDINGS BHD 4.070 -0.040 497.4 15.95 1792.7

AURELIUS TECHNOLOGIES BHD 1.790 0.100 2734.1 -24.15 641.1 GENTING PLANTATIONS BHD 6.560 -0.040 9.9 -0.48 5,885.6

ALLIANZ MALAYSIA BHD 13.200 0.100 16.7 2.64 2349.1 TONG HERR RESOURCES BHD 2.890 -0.040 10.1 -0.69 443.7

Data as compiled on Sep 12, 2022 Source: Bloomberg Data as compiled on Sep 12, 2022 Source: Bloomberg

INSIDE

TELLING IT AS IT IS ‘Taiwan’s Tributes
CPTPP bid on to Queen
page
2 3page
right track’ Elizabeth

ON TUESDAY SEPTEMBER 13, 2022

No. 8107 PP 2644/12/2012 (031195) www.thesundaily.my

GIFT OF LIFE ... Public donors giving blood

yesterday at the lobby of the Medan Mara building in
response to a nationwide donation and health awareness
campaign organised by the life insurance industry in
conjunction with Malaysia Day. – AMIRUL SYAFIQ/THESUN

‘Buck up, UNHCR’

█ BY ELLY FAZANIZA oNSC chief not happy with agency’s
[email protected] handling of refugee and asylum-seeker
placements in third countries
PETALING JAYA: National
Security Council (NSC) director- are they expected to be neither here nor 1967 Protocol.
general Datuk Rodzi Md Saad there?” “Historically, Malaysia’s history
said media reports that he is as a transit country is deeply rooted,”
“mulling” a shutdown of the UN High Rodzi was responding to queries by he said, adding that UNHCR is
Commission for Refugees (UNHCR) theSun related to a recent statement present in the country to manage
office in Malaysia are inaccurate as such attributed to him, where he is alleged to asylum-seekers and refugees,
a decision does not lie with him. have said such a move (closing the including the challenges they face,
UNHCR office) would enable local since their existence is not readily
However, he told theSun: “It is true the authorities to manage the migrants, as it accepted here.
NSC is unhappy with its (UNHCR) was a national security issue for the He questioned Rodzi’s statement,
performance in the country as far as the country. while appealing to the government to
placement of refugees and asylum- study its capability to manage some 5.5
seekers in recipient countries is Migrant Care coordinator Alex Ong million migrant workers in Malaysia.
concerned. agreed that a holistic policy to address “Is the government capable of
migrant issues with a sense of humanity managing irregular migrants, refugees,
“Even if the UNHCR’s office is shut is critical. asylum-seekers and migrants if the
down sometime in the future, there will UNHCR exits? Are they a threat to
be a process for this and a specific He stressed that continuous efforts to national security, and if so, what
timeline for it to move out of the country. frighten those who have already been precisely is this threat?
through the trauma of fleeing their native “It must be understood
“Furthermore, the federal lands for various reasons, including that there is a lack of Turn to
government must be the one making persecution, are futile. coordination (between
such a decision, which will surely involve agencies) in transiting them —
the relevant ministries. This will be Ong said Malaysia had a long history
preceded by a proper study.” as a transit country for migrants, which page 4
includes the long-standing issue that it is
He said UNHCR needs to show its not a party to the 1951 Convention to third countries,” he said,
seriousness in the placement of refugees Relating to the Status of Refugees or its
and asylum-seekers as their long-term
presence in Malaysia is not good for the
country or them, as they are merely in
limbo without any proper documents or
a future in sight.

“This is quite inhumane. How long

2 theSUN ON TUESDAY | SEPTEMBER 13, 2022
NEWS WITHOUT BORDERS

Keluarga Malaysia Always uphold judicial independence: Selangor Sultan
Cheap Sale
Programme to SHAH ALAM: The Sultan of quarters to work together by taking authority and erode public understand that the process of
be enhanced Selangor Sultan Sharafuddin Idris steps towards defending and confidence and trust in the system pardon needs to be carried out
Shah reminded the executive ensuring the independence of the of administration of justice. according to the legal provisions
PUTRAJAYA: The Keluarga Malaysia branch to always uphold the judicial body for the sake of the and procedures stipulated in the
Cheap Sale Programme has been principle of judicial independence country’s well-being and “Such a situation would also relevant provisions of the Federal
implemented in 454 state and steer clear of any attempts to prosperity,” he said yesterday. indirectly affect the good name of Constitution and laws.
constituencies, which is 71% of the 639 influence the process of the country on the international
constituencies targeted, said the Special administration of justice in the He also urged the people to stage.” “Everyone in this country needs
Task Force on Jihad Against Inflation country. place complete trust in the judicial to be served with justice, fairness
chairman Tan Sri Annuar Musa. system and to refrain from making The Sultan also expressed full and transparency by the judicial
Sultan Sharafuddin said judicial unfounded allegations without support for the address by the Yang body presiding over any case.
Annuar, who is also Communications independence should be knowing the facts and grounds of di-Pertuan Agong Al-Sultan
and Multimedia minister, said preserved with the support, judgment in any particular case. Abdullah Ri’ayatuddin Al-Mustafa “Therefore, it is the
implementation of the programme is understanding and commitment Billah Shah on Sept 5 on the power responsibility of all parties to
being intensified as it had received of all quarters, especially the Sultan Sharafuddin said of pardon prerogative, which could always preserve the good name of
encouraging response from the people. executive branch. baseless allegations would create a not be exercised arbitrarily merely the judiciary so that it is not marred
negative perception of the in the interests of certain quarters. by any form of influence and
He was speaking at a press “In this regard, I urge all independence of the judicial pressure.” – Bernama
conference after chairing a meeting of He said the people should
the task force yesterday.
Taiwan’s CPTPP bid on right
“There is an increase in response to track, says official
the programme in several states and
efforts need to be made to further █ BY SHIVANI SUPRAMANI oA‘ fteramendmentstolaws,countrynow were US$108.4 billion (RM488
intensify it. This is because there are [email protected] fully aligned with provisions and obligations billion), or 29.8% of total imports.
some states that are relatively slow in PETALING JAYA: Taiwan is of free trade agreement’ A second media forum hosted by
implementing the programme, such as progressing well in its bid for Chinese National Federation of
Penang, Negri Sembilan and certain membership in the Comprehensive Industries chairman Matthew Miau
areas in Sarawak.” and Progressive Trans-Pacific saw the presence of major
Partnership (CPTPP). Taiwanese industry leaders, who
The sale, which started in gave their take on their respective
mid-August, gives people access to In this regard, the country has helping journalists gain a better critical for the country since global industries.
cheaper goods every week. made amendments to various rules understanding of Taiwan’s economy and trade has seen rapid Among them was Taiwan
and domestic laws such as industrial development and its changes in recent years, with the Electrical and Electronic
Annuar said there would be an establishing the maximum residue preparations for its membership Covid-19 pandemic accelerating Manufacturers Association
increase in information about the level for pork ractopamine and bid in the CPTPP. the restructuring of the chairman Richard Lee, who said
programme on local news channels to opening the importation of food “After comprehensive international supply chain. unlike what most would assume,
enable the public to know about it more from Fukushima, Japan. examination, we have identified 11 the pandemic dramatically boosted
comprehensively. laws for amendment to comply with “Since Taiwan’s economic global demand in the digital
Taiwan Office of Trade the provisions of the CPTPP, development depends greatly on economy.
“Local news channels should inform Negotiations Chief of Staff James including areas concerning the trade, and bilateral and regional Taiwan Association of
the public which premises are having the Chen-Jung Hsiao said the moves environment, intellectual property economic integration, joining the Machinery Industry honorary
programme, the types of goods being were important as Taiwan seeks to rights, pharmaceuticals and CPTPP would not just be to its chairman Alex Ko said Taiwan
sold and the percentage of discounts align itself to meet CPTPP services.” benefit, but also that of the other 11 could leverage its smart machinery
given. This is to enable the B40 group to obligations. He said amendments have been member countries.” and manufacturing capabilities to
get information and capitalise on the made to laws, and Taiwan has help CPTPP partners establish
programme to get essential goods in He was speaking to journalists corrected discrepancies between He added that in 2021, 24.6% of smart manufacturing hubs.
their respective areas. from the 11 CPTPP member domestic laws and CPTPP Taiwan’s trade in goods came from Taiwan Garment Industry
countries – Mexico, Japan, obligations. CPTPP members, amounting to Association honorary chairman Ray
“All shops must display products Singapore, Australia, New Zealand, Hsiao added that the country is US$203.4 billion (RM916 billion). Lin said: “Taiwan’s accession to
according to the standards set by the Canada, Vietnam, Peru, Malaysia, now fully aligned with the the CPTPP will mean member
Domestic Trade and Consumer Affairs Brunei, and Chile – and the US, provisions and obligations of the “Japan, Singapore, Malaysia, states will be entitled to tariff
Ministry. We have chosen a certain logo, which recently attended an CPTPP. Vietnam and Australia are all cuts in sourcing textile materials
captions and colour patterns, and these International Press Group Forum He said achieving this was among Taiwan’s top 10 trading from us.”
need to be standardised so that the in Taiwan. partners. Of the figure, exports were
programme is more effective in terms of US$95 billion (RM428 billion) or
branding and marketing.” The forum was geared towards 21.3% of total exports, while imports

He added that the programme at CHERISHED RECOGNITION ... Ex-Royal Malaysian Navy staff Zawiyah Abdul Majid, 61, showing the Pingat Conducive design
public higher education institutions, or Jasa Malaysia medal she received for her services as a radio communications officer in Labuan, when met at her aspects for
PJMKM@Kampus, would be launched home in Malacca. – BERNAMAPIX new schools
on Oct 10 at Universiti Kebangsaan
Malaysia. – Bernama PUTRAJAYA: The construction of new
schools under the supervision of the
‘Guan Eng’s Education Ministry will take into
comment on task account design aspects that are
force improper’ conducive, easy to maintain and have
an optimum impact on students and
PUTRAJAYA: It is not appropriate to teachers, said Education Senior
accuse the Task Force on Jihad Against Minister Datuk Dr Radzi Jidin.
Inflation of failing in its job just because
Bank Negara Malaysia’s (BNM) He said new schools to be built need
overnight policy rate (OPR) has to incorporate matters that pertain to
increased, said task force chairman Tan basic infrastructure and have a big
Sri Annuar Musa. impact on people using them and at
the same time, ensure every sen from
He said matters concerning national allocations given by the government is
monetary policies were not decided by properly spent.
the task force or the Cabinet but by
BNM’s monetary policy committee, “What’s important is that the
which has an excellent record in designs must not focus on ‘cosmetics’
economic management. alone but ensure allocations spent
provide optimum impact.
“It is not appropriate for an MP to say
that the task force has failed because the “If we can reduce the costs of
OPR rose by 25 basis points (bps). That’s unnecessary cosmetics, then the
a very shallow way of evaluating the allocation that we have can be used for
country’s economic management,” said other amenities.”
Annuar, when commenting on DAP
chairman Lim Guan Eng’s call for the Radzi said this included the
task force to be dissolved. frequently discussed issue of school
toilet designs because existing facilities
Last Friday, Lim urged Prime were based on wet toilets, which did
Minister Datuk Seri Ismail Sabri Yaakob not have proper ventilation, resulting
to dissolve the task force, claiming that it in some students skipping breakfast
was ineffective, inefficient and irrelevant just to avoid having to use school
in stemming the rise in prices of goods. toilets. – Bernama

Citing BNM’s statement that the OPR
hike was due to inflationary pressures,
Lim said it refuted Annuar’s claim that
inflation was under control.

BNM on Sept 8 increased the OPR by
25bps to 2.5%, the third consecutive rate
hike made by the central bank.
– Bernama

COOL COMPOSURE ... Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri visiting a reptilian exhibition booth at the Kuala Lumpur Craft Complex 3theSUN ON TUESDAY | SEPTEMBER 13, 2022
yesterday after the launch of‘Malaysia Tourism Quality Assurance’, an initiative to enhance the services and quality of tourism products. – BERNAMAPIX NEWS WITHOUT BORDERS

Tributes to Queen E Heads of missions list
sent for final screening
o Former Cabinet minister among notable Malaysians God may bless her soul.
expressing condolences on passing of monarch Former minister of International Trade and PUTRAJAYA: Wisma Putra has submitted a list
containing 24 approved candidates to fill the
█ BY MUHAMMAD YUSRY place in heaven,” he said. Industry from 1987 to 2008, Tan Sri Rafidah positions of heads of missions overseas,
[email protected] Former senior civil servant Tan Sri Ramon Aziz, recounted how special a person the including to Indonesia, to the Public Services
PETALING JAYA: Prominent Malaysians have Queen was in her devotion to serving her Commission (PSC) for final screening, said
left heartfelt condolence messages in honour Navaratnam said his generation grew up under nation, and all nations which regard her as Foreign Minister Datuk Seri Saifuddin Abdullah.
of Queen Elizabeth II. her reign as the Queen of the UK and her their Queen.
position as head of the Commonwealth. He said the candidates, who will be filling the
Berjaya Group chairman Tan Sri Vincent “I recall before Merdeka, she was still the high commissioner and ambassador positions,
Tan said it is with profound sadness that he “I can relate to her reign, particularly since I monarch of our country, and when we were selected among diplomatic officers in the
learned of the news of her passing. represented Malaysia at many Commonwealth celebrated her official birthday with the usual civil service and not politicians.
meetings. I met the Queen at Buckingham programmes, including the parades through
“On behalf of Cardiff City Football Club and Palace and on her yacht, the Britannia, in the the town, we sang God Save The Queen. “It will be announced soon,” he said after
my family based in Malaysia and London, I Bahamas. She struck me as very charming, launching the Himpunan Genta Rasa book at
wish to convey my deepest condolences to the really humble, highly intelligent and with a “I was so fortunate to be a member of the Wisma Putra yesterday.
Royal Family. Our thoughts are with them, in great sense of duty to serve. official delegation of then prime minister Tun
addition to all those grieving throughout the Dr Mahathir Mohamad to the UK, and was He was commenting on the latest
UK, the Realms and the Commonwealth. “She obviously enjoyed her unique role as invited to the garden tea party at Buckingham development on the position of envoy to
head of the Commonwealth. She managed Palace. Indonesia, which is still vacant.
“Malaysia and the UK share a rich history. about 52 heads of government with confidence
We have the utmost respect for the Royal and comfort. She did not have executive “My colleagues, the late (Tun) Lim Kheng The position was formerly held by Datuk
Family and we mourn their great loss at this sad authority but exercised an enormous influence Yaik and (Tun) Ling Liong Sik were replete in Zainal Abidin Bakar.
time. May Her Majesty’s soul rest in eternal on British and global affairs,” he told theSun. their long tail suit coats and we were seated in
peace and may she be accorded the highest a marquee with several others. It was previously reported that Pasir Salak MP
Ramon said her leadership and wisdom will Datuk Seri Tajuddin Abdul Rahman had been
be deeply missed by everyone, and wishes that “The late Queen walked around to all the appointed to the position. However, his name
marquees and smilingly waved to us, as we was not listed among recipients of letters of
stood up in respect. What a special person she appointment as heads of Malaysian missions for
was. May Her Majesty’s soul forever rest in a ceremony held at Istana Negara in July.
peace,” she said.
On another matter, Saifuddin said the
Call to stop ‘free-flow’ entry into Labuan ministry will be conducting advocacy
campaigns to raise public awareness of overseas
LABUAN: A senator has urged the Home Minister Datuk Seri Hamzah Filipino immigrants (in Labuan), and we are job scam syndicates.
Immigration Department to bar holders of Zainudin was also quoted as saying that an worried the number (would grow) if there is
“Burung-Burung” cards and “Banci” (census) allocation of RM200,000 had been approved no strict monitoring from Sabah (authorities). “Through such campaigns, we can educate
certificates among Filipino immigrants from for immediate action to be taken such as the the public about job scams as well as restore the
entering Labuan. setting up of specific checkpoint counters for “We also (do not want) to see holders of trust of Malaysians to obtain employment
non-Sabahans to ensure there would be no these documents being stranded in Labuan if opportunities abroad through trusted and
Datuk Bashir Alias said the department free flow of travellers at the main gate of the Immigration (officers) at the terminals reliable channels,” he said.
must also allow holders of such documents ferry terminals to mainland Sabah via the prohibit them from travelling to Sabah.”
who are currently in Labuan to return to Tanjung Pagar Sipitang, Menumbok and On Sept 9, Saifuddin was reported as saying
Sabah, adding that this was in line with the no Jesselton jetties. Bashir said Labuan only recognises that 118 job scam victims in Cambodia
free-flow policy that will soon be enforced at holders of the IMM13 document and managed to be rescued, out of 148 cases
the roll-on-roll-off and Labuan International Meanwhile, Bashir said the documents for foreigners with an international passport and reported. – Bernama
Ferry terminals. Filipino immigrants in Sabah were issued by work pass to reside and work in Labuan,
the Sabah Chief Minister’s Department and adding that the Sabah government must look Johor aims to be
The Home Ministry previously directed the the state Immigration Department and into the need to have immigration checks at No.1 in tourism
Immigration Department to enforce stricter therefore, holders of the documents should be the Menumbok jetty to ensure only those with
control at the two terminals, especially for prohibited from travelling outside Sabah. valid travel documents are allowed to embark ISKANDAR PUTERI: Johor aims to make its
non-Sabahan travellers bound for the Sabah ferries or passenger boats to Labuan. tourism sector number one in the country this
mainland. “We estimate (there are) about 12,000 – Bernama year, said Mentri Besar Datuk Onn Hafiz Ghazi.

He said the hope was to match the state’s
investment achievements, which recorded the
highest investment value in the country at
RM60.9 billion, as well as the success of the
state’s football team, Johor Darul Tazim (JDT),
which emerged champions of the FA Cup last
Saturday.

He added that the move to make the tourism
sector number one was also in line with the state
government’s plans to strengthen the economic
development of Johor.

“This is because Johor is blessed with
beautiful scenery. There are six national parks,
and 131 islands in Mersing. In terms of our
heritage, we are also very proud of our
traditional food.

“Because of this, we need to be ambassadors
of the state,” he said at the opening of the
Majestic Johor Festival on Sunday.

The 11-day event, a collaboration of various
agencies, started on Thursday and will run until
Sunday. It features various tourist attractions as
well as the heritage of 10 districts in the state.
– Bernama

M’sia, Qatar to share
anti-graft experience

DOHA: Malaysia and Qatar will enhance
scientific and practical cooperation in the fight
against corruption and share experience in
enhancing transparency and integrity in the
private sector of both countries.

President of Qatar’s Administrative Control
and Transparency Authority (ACTA) Hamad
bin Nasser Al Misnad expressed this during a
meeting on Sunday with the Malaysian Anti-
Corruption Commission (MACC) delegation,
led by its chief commissioner Tan Sri
Azam Baki.

“ACTA welcomes all forms of cooperation
with MACC to introduce a successful Qatari
experience in preventing and combating
corruption, in addition to exchanging
experiences to contribute to enhancing
integrity and transparency, to serve the interests
of both sides,” Hamad said.

Azam is in Qatar to review the country’s
experience in the fields of fighting corruption
and digital government. – Bernama

4 theSUN ON TUESDAY | SEPTEMBER 13, 2022 READ OUR HERE SCAN
NEWS WITHOUT BORDERS ME
/thesundaily

Ringgit slide despite No sulphur
recovery due to US rate hikes dioxide found
of this starting to happen.” in local soy
█ BY RAJVINDER SINGH o Impact of short-term funds outflow as Yeah said the dollar’s weakening sauce products
[email protected] investorsseektomaximiseprofits expected
PETALING JAYA: Despite the to contribute to continued exchange rate will most likely become apparent next KUALA LUMPUR: No samples of soy
economy doing well in the face of depreciation, says expert year as demand for goods in the US sauce products in this country,
global challenges, the ringgit starts to slow down. including ABC Sweet Soy Sauce and
continues to weaken against the US weak ringgit, said the primary factor will continue to depreciate against the Sambal Ayam Goreng Sauce, were
dollar due to the high inflation rate for the strong US dollar is the action US dollar because the high-interest Universiti Tun Abdul Razak found to contain sulphur dioxide
and aggressive rate hikes there. taken by the US Federal Reserve to rate in the US is a major contributing economist Dr Barjoyai Bardai said the based on monitoring at all entry
continuously increase interest rates to factor. ringgit’s weakening is the natural points and in local markets since June
The ringgit was traded at RM4.503 combat high inflation. course of demand and supply. last year.
against the dollar at the close of “The exchange rate depreciation
business yesterday. He added that other factors in play will continue because of short-term He said demand for the US dollar is Health Director-General Tan Sri Dr
include the easing of commodity funds outflow from the ringgit to the currently strong and there is a lack of Noor Hisham Abdullah said checks
World Bank Group lead economist prices such as palm oil, crude oil and US dollar as investors are interested in supply while demand for the ringgit is on Food Safety Information System of
for Malaysia Apurva Sanghi said from natural gas. making as much profit as possible,” low but supply is high. Malaysia (FoSIM) data confirmed that
the macro, meso and micro Yeah said. products recalled from the Singapore
perspectives, Malaysia’s Gross “The global slowdown in demand “Investors continue to take the market due to the presence of
Domestic Product is expected to grow for such items is having a dampening He pointed out that the US dollar ringgit out of the country and invest in undeclared sulphur dioxide were also
by 5.5% this year. impact on the ringgit, which has been has surged against all currencies, not the US due to higher returns. imported to this country.
undervalued against the US dollar. only the ringgit.
He said this was higher than the But now, it’s even more undervalued.” “This will continue as long as US “However, since June 2021, the
global growth of 2.9% and regional “Once the US economy slows interest rates remain high as there are Hold, Test and Release order has
growth of 4.4%. He said if we looked at the basket down and the inflation rate starts to better returns from investing in the been imposed on the products in
of currencies of Malaysia’s major fall, only then will the US dollar begin US,” he said, adding that the Fed question at all entry points of the
Higher commodity prices have trading partners, the ringgit has been to weaken. For the inflation rate to increased the interest rate by 50 country.
also benefited Malaysia as the country relatively stable. come down, the US economy needs points, which attracted short-term
exports commodities such as palm to contract and there are already signs investors. “Directives for relabelling or for
oil, liquefied natural gas and However, he added that the ringgit the product to be sent back to the
petroleum, which account for 80% of Barjoyai also said about 80% of country of origin are also issued if the
all commodities. Malaysia’s needs are imported in US labelling requirements are not
dollars as a means of payment. complied with, including the
Sunway University economist Dr labelling of sulphur dioxide,” he said
Yeah Kim Leng, in explaining the He said foreign workers also in a statement yesterday.
contribute to it as they send back an
estimated RM60 billion a year, thus Noor Hisham explained that
having an impact on the ringgit. sulphur dioxide is classified as a
preservative permitted in certain
Malacca flood foods and at certain levels under the
mitigation Food Regulations 1985, and it is not
works almost harmful to humans when used in
completed allowed concentrations.

MALACCA: The state STILL WARY ... Shoppers opting to wear face masks despite the recent government announcement that it is no longer He said it could also cause allergic
government is actively carrying mandatory for indoor locations. – BERNAMAPIX reactions in some individuals who
out river dredging works under have asthma when inhaled or
the flood mitigation project in swallowed, adding that a sulphur
preparation for the northeast dioxide content exceeding 10mg per
monsoon season that is expected kilogramme must be declared or
to begin in November. labelled.

State Works, Transport, Public Noor Hisham said the Health
Facilities, Infrastructure and Ministry was always aware and
Flood Management Committee concerned about matters that can
chairman Datuk Rahmad threaten consumers’ health and
Mariman said in addition, the advised the public who have any
installation of flood warning information or concerns about food
systems in 18 hotspots is safety issues to contact the nearest
expected to be completed by the district health office.
end of this month.
They can also channel
“The result of this project can information through the website at
be seen, for example, during moh.spab.gov.my or the official
heavy rain in Duyong a few weeks Facebook page of the Food Safety and
ago. The water flowed smoothly Quality Division. – Bernama
into the nearby river and if this
project can be completed we Aid for building
believe it can overcome flood hardcore poor
problems in the areas concerned. housing increased

“We are almost 90% ready to KUALA LUMPUR: The assistance
face the monsoon transition rate for the construction of the
period this time, but we still Malaysian Family Housing
advise those living in low-lying Programme, previously known as
areas and by the river to always Housing for the Hardcore Poor, has
be alert with the current been increased from RM56,000 to
situation,” he said yesterday. RM66,000 per unit for Peninsular
– Bernama Malaysia and from RM68,000 to
RM79,000 for Sabah, Sarawak and
UNHCR welcomes continued engagement with govt Federal Territory of Labuan.

adding that it is incumbent on From close cooperation related to Though refugee protection is the step” and its commitment to the Rural Development Minister
the authorities to look into front refugee protection. state’s primary responsibility and is Global Compact on Refugees Datuk Seri Mahdzir Khalid, when
integrating them as part of page supported by the international principles. announcing the matter, said for
Malaysian society and “For several years now, community, in Malaysia, the repairs the assistance has been
providing access to education, through the government- absence of a national framework The Coalition of Malaysian increased from RM13,000 to a
initiated Joint Task Force, co- makes it difficult for them to seek NGOs in the UPR Process maximum rate of RM15,000 in the
considering that they have vast chaired by the Foreign Ministry protection, status determination (Comango) had earlier reminded peninsula, while for Sabah, Sarawak
potential to contribute positively to and UNHCR, we’ve been in close and resettlement, she said. Rodzi that in the absence of any and Labuan, it is increased to a
economic development, especially discussions on a framework of national legal framework, the maximum rate of RM17,000, from
now that we are short of workers.” cooperation on managing refugees The UNHCR also applauded the UNHCR is mandated to safeguard RM15,000.
Meanwhile, the UNHCR said it in the country,” its associate government’s leadership role in the rights and well-being of
welcomed the government’s communications officer Yante Asean to address the root causes of refugees and asylum-seekers “The increase will help
continued engagement to explore Ismail told theSun. displacement, it being a “positive worldwide. contractors deal with the issue of the
increase in the cost of building
materials which is the reason for their
failure to complete projects as there is
no profit margin for the work done,”
he told the media after the ministry’s
monthly assembly at Wisma Felcra
here yesterday. – Bernama

5theSUN ON TUESDAY | SEPTEMBER 13, 2022
NEWS WITHOUT BORDERS

E-hailing driver High-tide event being Mentri Besar Datuk Seri Amirudin
claims trial to living closely monitored Shari issued a warning following the
off prostitution high tide phenomena forecast.
o Govt to send equipment, set up they have taken preventive
GEORGE TOWN: An e-hailing driver temporary evacuation centres in measures by moving their cars to “We have issued a warning
pleaded not guilty in the sessions advance, says Selangor MB higher ground. regarding the high tide (until) Sept
court here yesterday to four counts 14 and 15 that it will be at a height of
of living off prostitution. █ BY SURAYA ALI control and houses are safe, with no Fisherman Razali Khairuddin, 53, more than five meters.
[email protected] risk of flooding reported. said the high tide is not a new
Lee Eng Seng, 45, was charged KUALA SELANGOR: The Fire and phenomenon as it happens almost “On Dec 17 and 18 last year, the
with living on the earnings of the Rescue Department will continue to Meanwhile, the Meteorological every year. tide reached 4.7m to 4.8m,” he said
prostitution of four foreign women monitor the high-tide phenomenon Department has warned people to after inspecting upgrading works on
at a hotel at Jalan CY Choy here in coastal areas in Klang and Kuala keep away from beaches and rivers. “We are used to it, but I am a drainage system in Taman
between 5.55pm and 8pm on Aug Selangor. The phenomenon, that worried since the people have been Melawis.
30. has created tides up to a maximum The phenomenon started at warned about it.”
of 5.6m since Sunday, has caused 6.42am on Sunday, with tides at Amirudin said the state
The charges, framed under floods in several areas. 5.4m. The tide is expected to be at a As it was towards the end of the government has identified several
Section 372A(1) of the Penal Code, high of 5.4m at 7.49am today. school break, Razali said visitors flood hotspots around Taman
provide imprisonment of up to However, the situation is under from neighbouring areas were Melawis.
15 years and whipping, and a fine. When theSun checked with the curious about the high tide and
fishing community in Kampung wanted to see it. Several short-term measures will
Judge Mohammad Khalid AB. Api-Api, Kuala Selangor, they said be implemented, including
Karim allowed Lee bail of RM20,000 “I hope they will be safe and installing more pumps to accelerate
on all charges and ordered him to listen to the warnings. Locals know the outflow of water.
report to the nearest police station what to do and where to go in case of
once a month. flooding, I hope the visitors do too.” He said the state government will
propose several measures such as
The court set Oct 13 for mention. Over the weekend, Selangor sending in advance equipment and
The prosecution was conducted setting up temporary evacuation
by deputy public prosecutor centres in frequently flooded areas.
Muhammad Shahrezal Mohd
Shukri, while Lee was represented He added that this is to avoid a
by lawyer Tey Yi Kai. – Bernama panic like that which happened
during the December 2021 floods,
when most of the equipment were
stored at a central location, which
made delivery difficult due to
flooded roads.

Remains of helicopter pilot recovered from crash site

TAPAH: The pilot of a helicopter that Perak Fire and Rescue Department personnel examining the wreckage of the Eurocopter aircraft in the Chikus Forest Reserve yesterday. The helicopter went missing
went missing in Bidor after losing in Bidor on Sunday after losing contact with the Kuala Lumpur Air Traffic Control Tower. – BERNAMAPIX
contact with the Kuala Lumpur Air
Traffic Control Tower on Sunday was
found dead at the crash site, said Perak
police chief Datuk Mohd Yusri
Hassan Basri.

He said the body was found in the
cockpit of the helicopter by members
of the search and rescue team
yesterday.

“A Royal Malaysian Air Force
(RMAF) helicopter found the location
of the crash at about 9.30am in the
Chikus Forest Reserve area. Five
minutes later, the RMAF crew went
down to the location and found the
victim in the cockpit.

“The body was recoverred from the
crash site at 10.12am and taken to SMK
Anderson in an ambulance and then
sent to the Raja Permaisuri Bainun
Hospital in Ipoh for post-mortem,” he
said at the Bidor police station.

He identified the pilot as Hong Kong
citizen Tsz Kin Richard Chan, 58,
whose family members has been
informed of the incident.

Mohd Yusri said the wreckage of the
aircraft, which is owned by a private
company, has been handed to the Civil
Aviation Authority of Malaysia (CAAM)
for further action.

On Sunday, Transport Minister
Datuk Seri Dr Wee Ka Siong was
reported to have said the helicopter
lost contact with the control tower at
12.16pm before (CAAM) reported it as
missing.

Meanwhile, Wee in his latest post on
Facebook, stated that the ministry was
still waiting for the hospital report to
confirm the cause and time of the
victim’s death, adding that the ministry
has instructed CAAM to prepare a
report on the incident. – Bernama

Bank manager: Najib never sued Ambank 13 Kedah police vehicles
destroyed in blaze
KUALA LUMPUR: An AmBank even during the SRC International Uma Devi: To my knowledge, no.
officer told the High Court yesterday case, there was no dispute or Earlier, Sri Ram was questioning ALOR STAR: A total of 13 police by the state Fire and Rescue
that Datuk Seri Najib Abdul Razak complaints made by Najib regarding the witness on the evidence she gave vehicles were destroyed in a fire Department,” he said in a
has never filed any suit against the his bank accounts statement,” during the SRC International trial, at the Kedah police contingent statement.
bank for mishandling his accounts, she said. where she admitted her statement headquarters workshop building
while he was an account holder. was accepted and not disputed by yesterday. Meanwhile, Kedah Fire and
The 37th prosecution witness was both the High Court and the Court Rescue Department director
AmBank (M) Bhd Jalan Raja responding to additional questions of Appeal. However, state police chief Sayani Saidon said the
Chulan branch manager R. Uma Devi, from senior deputy public prosecutor Last week, Uma Devi testified Najib Datuk Wan Hassan Wan Ahmad department received an
43, who held the position since 2015 Datuk Seri Gopal Sri Ram at the Pekan held five accounts with AmBank, one said no casualties or injuries were emergency call about the
said Najib also never lodged any MP’s trial over the misappropriation savings account ending with the reported in the 4.45am incident. incident at 4.53am.
complaint with the bank about his of RM2.3 billion in funds from number 694, and four current
bank statements. 1Malaysia Development Bhd. accounts, namely AmIslamic, “The fire destroyed the “Twenty personnel from the
AmPrivate Banking-1MY, AmPrivate transport administration office, Jalan Raja Fire and Rescue station
“At monthly intervals, the bank Sri Ram: Between 2015 and 2018, Banking-Y1MY and AmPrivate workshop, equipment and 13 assisted by the Jalan Kundur and
sends a bank statement listing all did the accused file any proceedings Banking-MY. – Bernama police vehicles. Seberang Nyonya volunteer fire
transactions made in the account to against your bank for mishandling his brigade units were deployed to
its customers. (To) my knowledge, account, to your knowledge? “The cause of the fire and the scene,” he said. – Bernama
losses are still being investigated

6 theSUN ON TUESDAY | SEPTEMBER 13, 2022
NEWS WITHOUT BORDERS

Singapore hopes special visa will draw global ‘rainmakers’

SINGAPORE: The city-state is hoping offering them five-year visas that talent, we must be mindful of how number of foreigners employed in skills of its workforce, while giving
a special work visa will make it more would automatically allow their global they are, and how stiff the the country, with fears that too many Singaporeans global and regional
competitive in attracting “the spouses to work also. competition is for them.” well-paid jobs were being taken by exposure so they could take up
rainmakers of the world”, its Addressing parliament, expatriates. leadership positions in global firms.
manpower minister said yesterday, Manpower Minister Tan See Leng Britain, Australia and Germany
as it seeks to balance its need for said global talent would help have launched similar programmes, However, the government has The head of Singapore’s central
talent with local unease about Singapore develop sectors like while Malaysia and Thailand are also sought to allay those concerns, bank in May said the country’s
expatriate workers. sustainability, artificial intelligence or offering incentivised long-term visas stressing foreign talent lured to financial sector was creating more
fintech, but it faced a challenge with for foreigners with specialist Singapore would help to “create a jobs than local staff could fill and
The regional financial hub other countries “playing an offensive expertise who earn above a certain diverse range of opportunities for warned a “Singaporean only”
announced new rules two weeks ago game”. income threshold. Singaporeans”. approach would be fatal for the
to draw expatriates earning at least “When we are talking about top country as a global financial centre.
S$30,000 (RM97,000) a month, Singapore has seen discontent Tan said Singapore would also – Reuters
among the local workforce about the develop its own talent and upgrade

50 million people stuck Thai opinion poll
in modern slavery shows majority
want early election
o Covid pandemic, wars number of people in modern slavery has risen thousands of migrant workers in the country,
and climate change fuel by about 9.3 million. even as problems remained with BANGKOK: More than 60% of Thais want the
poverty, says UN agency implementing new labour rules, the report government to dissolve parliament and call an
According to the latest figures, forced said. early election, according to a recent opinion
GENEVA: The number of people forced to labour accounted for 27.6 million of those in poll, as the Constitutional Court considers the
work or in a marriage against their will has modern slavery last year, more than 3.3 Qatar 2022 chief executive Nasser Al future of suspended Prime Minister Prayuth
surged in recent years to about 50 million on million of whom were children, and forced Khater Qatar said on Thursday the country Chan-ocha.
any given day, the UN International Labour marriage accounted for 22 million. had faced a lot of unfair criticism over its
Organisation (ILO) said yesterday after hosting the World Cup that was not based on The 68-year-old was suspended from duty by
releasing its modern slavery report. ILO found that more than half of all facts but it that it had responded to any fair a court last month over a petition filed by main
forced labour occurred in either criticism. opposition party Pheu Thai, that argued
Crises such as the Covid-19 pandemic, upper-middle income or high-income Prayuth’s time spent as head of a military junta
armed conflicts and climate change have led countries, with migrant workers more than The ILO report also pointed to concern after a 2014 coup should count towards his
to unprecedented disruption to employment three times as likely to be affected. about forced labour in parts of China. constitutionally stipulated eight-year term limit.
and education while exacerbating
extreme poverty and forced migration, the The report made mention of Qatar, which It referred to a report released by the UN The suspension left Deputy Prime Minister
agency said. has faced widespread allegations of labour human rights commissioner on Aug 31 that Prawit Wongsuwan as the country’s acting
rights violations relating to migrants working said “serious human rights violations” had leader while Prayuth remains in the Cabinet as
Compared to the last count in 2016, the there in the run-up to the Fifa soccer World been committed in China and that the defence minister.
Cup, starting in November. detention of Uyghurs and other Muslims in
Xinjiang may constitute crimes against The survey of 1,312 people conducted
But since ILO opened an office in the humanity. between Sept 5 and 7 by the National Institute of
capital Doha in April 2018, there had been Development Administration found 63.80%
“significant progress” regarding the living and China has vigorously denied the strongly agreed Prawit should dissolve
working conditions for hundreds of allegations. – Reuters parliament and call an early election, while
13.95% strongly disagreed.
LETHAL WEAPONS ... BRIEFS
A Dassault Rafale multirole A government spokesman did not respond
combat aircraft refuelling to a Reuters request for comment on the
from the drogue of a findings of the survey released on Sunday.
tanker-transport plane
during a demonstration According to the constitution, Thailand’s
flight by the French Air next election is due by May next year but the
Force over Indonesia’s poll could happen earlier if parliament is
Sunda Strait yesterday. dissolved.
Indonesia signed a deal
with France in February to Prayuth ruled as head of a military junta after
buy six Rafale warplanes as staging a coup in 2014 when he was the army
part of an anticipated total chief.
order of 42. – AFPPIX
He became a civilian prime minister in 2019
China actor detained on suspicion of soliciting sex services following an election held under a 2017
military-drafted constitution, in which an
BEIJING: Chinese actor Li Yifeng, who played as Evan Li, launched his career after taking Li, without saying what prompted the move. eight-year limit for a prime minister was set.
former Communist Party leader Mao Zedong in part in a national television song contest in Other brands to cut ties with him included
a 2021 movie, was detained recently by police 2007 and later moved into acting. The court has not yet set a date for its final
on suspicion of soliciting prostitutes, China’s Haleon-owned toothpaste brand Sensodyne ruling but has asked Prayuth and those involved
state broadcaster CCTV reported on Sunday. Reuters was unable to reach Li for and Mengniu-owned milk drink Zhenguoli, in the dispute to submit evidence in the case.
comment through his Weibo account and according to their social media posts. – Reuters
CCTV said it was citing a Beijing police efforts to contact him through his studio’s
statement on the agency’s Weibo social media WeChat account were not successful. Li last year appeared in a public service XI TO VISIT KAZAKHSTAN
account on Sunday that it recently detained announcement video to promote national AND UZBEKISTAN
an actor with the surname Li for multiple Several brands, including Italian luxury security.
instances of soliciting prostitutes. firm Prada , cut ties with Li immediately after BEIJING: President Xi Jinping will make state
the CCTV report, according to posts on their However, Beijing has been targeting visits to Kazakhstan and Uzbekistan this
The broadcaster said it confirmed the social media accounts. Chinese celebrities over any alleged week, the Chinese government said
person is Li Yifeng. misbehaviour, concerned by their growing yesterday – his first trip abroad since the
Prada said on its Weibo account on Sunday influence and to curtail what the government early days of the coronavirus pandemic. Xi
The 35-year-old actor, who is also known that it had “ended all cooperation” with calls a potential for social disorder. – Reuters will attend a leaders’summit of the Shanghai
Cooperation Organisation (SCO) in the
Uzbek city of Samarkand and“pay state visits
to Kazakhstan and Uzbekistan” at the
invitation of Presidents Kassym-Jomart
Tokayev and Shavkat Mirziyoyev from
tomorrow to Friday, the Foreign Ministry
said in a statement. The SCO is made up of
China, Russia, India, Pakistan, as well as four
central Asian countries – Kazakhstan,
Kyrgyzstan, Uzbekistan and Tajikistan. – AFP

PAPUA NEW GUINEA QUAKE
TOLL RISES TO SEVEN

PORT MORESBY: The death toll from a
massive earthquake in Papua New Guinea
rose to seven yesterday and is expected to
grow as rescuers begin to reach remote
landslide-hit communities. Police
commissioner David Manning said the
victims of Sunday’s 7.6-magnitude quake
had been found across the central north of
the country, where there is widespread
damage to homes and infrastructure. The
quake struck mid-morning and triggered a
series of deadly landslides. Three alluvial
miners were buried alive near the
settlement of Wau and four others died in
locations across Morobe and Madang
provinces, Manning said. – AFP

KYIV: Ukraine accused the Russian military of 7theSUN ON TUESDAY | SEPTEMBER 13, 2022
attacking civilian infrastructure in response to a * NEWS WITHOUT BORDERS
rapid weekend offensive by Ukrainian troops
that forced Russia to abandon its main bastion Ukraine accuses Russia
in the Kharkiv region. of attacking power grid

Ukrainian officials said targets of the oInvaders aiming to deprive people of light attacks caused a total blackout in the Kharkiv
retaliatory attacks included water facilities and and heating, says Zelensky and Donetsk regions, and partial blackouts in
a thermal power station in Kharkiv, and caused the Zaporizhzhia, Dnipropetrovsk and Sumy
widespread blackouts. Ukraine’s gains are important politically for had dislodged the enemy from more than 20 regions.
Zelensky as he seeks to keep Europe united settlements in the past day.
“No military facilities, the goal is to deprive behind Ukraine – supplying weapons and Mykhailo Podolyak, an adviser to Ukraine’s
people of light & heat,” Ukrainian President money – even as an energy crisis looms this Moscow’s almost total silence on the defeat – president, said Kharkiv’s CHPP-5 electricity
Volodymyr Zelensky tweeted on Sunday. winter following cuts in Russian gas supplies to or any explanation for what had taken place in station – one of the largest in Ukraine – had
its European customers. northeastern Ukraine – provoked significant been hit.
Moscow denies its forces deliberately target anger among some pro-war commentators and
civilians. Russia has likely ordered the withdrawal of Russian nationalists on social media. “A coward ‘response’ for the escape of its
its troops from the entire occupied Kharkiv own army from the battlefield,” he said on
Zelensky has described Ukraine’s offensive Oblast west of the Oskil River, the UK Defence Some called on Sunday for President Twitter.
in the northeast as a potential breakthrough in Ministry said in a regular update yesterday. Vladimir Putin to make immediate changes to
the six-month-old war, and said the winter ensure ultimate victory in the war. Ukraine’s Defence Minister Oleksii Reznikov
could see further territorial gains if Kyiv Ukraine’s General Staff said defence forces said the offensive had gone far better than
received more powerful weapons. Zelensky said on Sunday that Russian expected, describing it as a “snowball rolling
down a hill”.
In the worst defeat for Moscow’s forces since
they were repelled from the outskirts of the “It’s a sign that Russia can be defeated.”
capital Kyiv in March, thousands of Russian – Reuters
soldiers left behind ammunition and
equipment as they fled the city of Izium, which
they had used as a logistics hub.

Ukraine’s chief commander Gen Valeriy
Zaluzhnyi said the armed forces had regained
control of more than 3,000sq km since the start
of the month.

BRIEFS IRAN URGES SAUDI ARABIA
TO SHOW GOODWILL

DUBAI: Iran has no preconditions in its
talks with Saudi Arabia, Iranian Foreign
Ministry spokesman Nasser Kanaani said
yesterday, calling on Riyadh to adopt a
“constructive approach” to improve ties.
“Iran will respond proportionately to any
constructive action by Saudi Arabia,” he
told a televised news conference. Tehran
and Riyadh, the leading Shi’ite and Sunni
Muslim powers in the Middle East,
severed ties in 2016, with both parties
backing opposite sides in proxy wars
across the region, from Yemen to Syria.
Last month, Tehran said a delayed sixth
round of talks between Saudi Arabia and
Iran in Baghdad would take place when
the conditions are right in Iraq. – Reuters

HELICOPTER CRASHES Residents laying
DURING TALIBAN TRAINING flowers outside
the
KABUL: A Black Hawk helicopter Sandringham
commandeered by the Taliban after the Estate, one of
chaotic US withdrawal from Afghanistan the homes
crashed during a training session at the owned by
weekend, killing two pilots and a crew Queen Elizabeth
member, said the Defence Ministry. The in her private
incident occurred on Saturday on the capacity, in
campus of the Defence University in the eastern England.
capital Kabul. The Black Hawk crashed – REUTERSPIX
due to “a technical problem during a
training exercise”, the ministry said, Round-the-clock vigil at Queen Elizabeth’s coffin
adding five crew members were also
injured. When exiting the country last
year, the US military left behind billions
of dollars worth of aircraft, vehicles,
weapons and other hardware. – AFP

THREE UN PEACEKEEPERS LONDON: Mourners in their thousands will encouraged to check ahead, plan accordingly Charles used his address to the upper and
HURT IN MALI BLAST be able to file past the coffin of Britain’s late and be prepared for long wait times.” lower houses of parliament to pay tribute to his
BAMAKO: Three United Nations Queen Elizabeth in a round-the-clock mother and to pledge to uphold the principle
peacekeepers were hurt on Sunday lying-in-state from tomorrow evening to early Airport-style security checks will take place of constitutional government.
when their vehicle struck an improvised morning on the day of her funeral. at Westminster Hall, the oldest of the buildings
explosive device in northern Mali. The that make up Britain’s parliament, and tight “While very young, her late Majesty
incident happened on a road between Hundreds of thousands of people are restrictions will be in force, with only small pledged herself to serve her country and her
Ber and Timbuktu, the United Nations expected to pay their last respects to Britain’s bags permitted. people and to maintain the precious principles
Multidimensional Integrated longest-reigning monarch ahead of her state of constitutional government which lie at the
Stabilisation Mission in Mali said on funeral on Sept 19, which will be attended by The lying-in-state will be preceded by a heart of our nation.
Twitter on Sunday, without identifying world leaders. ceremonial procession through central
the nationalities of those hurt or the London to carry the queen’s coffin from “This vow she kept with unsurpassed
state of their injuries. The mission was The Culture Ministry said the public Buckingham Palace to Westminster Hall devotion,” he told the assembled lawmakers
launched in 2013 to help the would be able to file past the coffin 24 hours a tomorrow. and peers.
impoverished Sahel country cope with a day from 5pm tomorrow until 6.30am on
militant insurgency. It is one of the UN’s Sept 19. Meanwhile, King Charles told parliament “She set an example of selfless duty which,
biggest peacekeeping operations, with yesterday he was “resolved faithfully to follow” with God’s help and your counsels, I am
more than 17,000 troops, policemen, “Those wishing to attend will be required the example set by his mother. resolved faithfully to follow.
civilians and volunteers. – AFP to queue for many hours, possibly overnight,”
said the ministry yesterday. The monarch addressed lawmakers and “As Shakespeare says of the earlier Queen
peers in what he described as the “the living Elizabeth, she was ‘a pattern to all princes
“Large crowds are expected and people are and breathing instrument of our democracy”. living.’”– Reuters

Pakistan races to keep floodwaters out of power station

ISLAMABAD: Authorities in Pakistan are houses, roads, railways, livestock and crops. Troops were busy strengthening a dike built 500kV power station did not get flooded.
scrambling to protect a vital power station Both the government and United Nations in front of the station, a visit to the site showed UN agencies have begun work to assess
supplying electricity to millions of people on Sunday.
against a growing threat of flooding, officials Secretary-General Antonio Guterres have the South Asian nation’s reconstruction needs
said yesterday, taking steps such as building a blamed climate change for the extreme weather “All preventive measures have been taken after it received 391mm of rain, or nearly 190%
dike in front of it. that led to the flooding, which submerged already to save the grid in case any flooding more than the 30-year average, in July and last
nearly a third of the nation of 220 million. happens,” top district official Syed Murtaza Ali month.
Floods from record monsoon rains and Shah said yesterday.
glacial melt in the mountainous north have The electricity station in the district of Dadu Sindh received 466% more rain than average
affected some 33 million people and in the southern province of Sindh, one of the The comment followed orders from Prime and all the floodwaters pass through Dadu, a
killed almost 1,400 while washing away country’s worst affected areas, supplies power Minister Shehbaz Sharif, reported by state district with a population of 1.5 million, due to
to six provincial districts. broadcaster Radio Pakistan, to ensure the its location. – Reuters

8 theSUN ON TUESDAY | SEPTEMBER 13, 2022 FOLLOW ON TELEGRAM SCAN
SPEAK UP ME
/thesuntelegram

COMMENT by Dr Rais Hussin

Dynamic, proactive vision for Asean
PREVIOUSLY, in the article headlined
“Indo-Pacific Democracy Dynamics – Since what mainly connects the War, and which has been the cornerstone of be put in place to provide the pre-conditions
Impacts of the Ukrainian war on the Indo-Pacific region is the SCS and the Straits its multilateral defence and security for the next stage.
Global Democratic Order” (Aug 16), of Malacca as geographical nodal points, it is arrangement. We should not cede
EMIR Research illustrated how the recent only natural, logical and rightful that Asean responsibility and share the burden of Towards this end, the Asean CoC for the
geopolitical events signify the beginning of an plays the central role in the regional geosecurity responsibilities with outsiders. SCS should include a Political Declaration –
irreversible process of reformatting the world architecture. analogous to the Withdrawal Agreement
order towards a more democratic, natural, Instead, Asean should think of establishing between the UK and the European Union
balanced and fairer multipolar world, with The Indo-Pacific Economic Framework a common defence force and forging military (EU). This should express the commitment
financial settlements in all national (Ipef ) proposed by US President Joe Biden’s cooperation between member-states. This is and dedication of the claimant countries,
currencies, backed by the things of real value administration on Oct 27 last year at the 16th where we can pool our defence and military including China, to resolve the impasse in the
(natural resources or produce), based on East Asia Summit recognises that Asean is a resources together and implement burden- SCS by means of JDs.
mutually beneficial cooperation and respect key ground for geopolitical rivalries in the sharing for the common good of the region.
for national sovereignties. wider region. This is where Asean centrality Then, we can ensure our defence priority While JDs may not resolve the thorny issue
must be asserted. The Ipef has to be aligned revolves around our vision and outlook. of overlapping claims, perhaps in the
In this article, we will zoom in on the and fit into the Asean Outlook, and not the long-term, it may lead to a situation where an
context of the Indo-Pacific region. other way around. In the case of the SCS, it is critical that we economic, trade and investment union
do not “sleepwalk” or accidentally stumble (modelled along the lines of the EU’s Single
A free and open Indo-Pacific, with specific If need be, Asean may have to develop an into war since the potential and possibility are Market, Customs Union as well as monetary
reference to the South China Sea (SCS), will alternative narrative to balance and fill in the very real. Asean should be concerned that a union, e.g. optimal currency area) may
only be in the strategic interest of the US if geopolitical and geosecurity gaps in Ipef via similar situation like that between Russia and emerge.
China’s role and presence is diluted and “cut the East Asia Summit and the Asean Regional Ukraine does not arise in the SCS. Conflict in
down to size”. In short, a united world is not Forum, etc. the SCS will have serious implications for The successful model can be replicated in
conducive to a unipolar world. cross-straits relations between China and other situations. In short, Asean’s JD with
Under Ipef, the strategic goal of Taiwan, given the geographical and strategic China will ensure the pooling of strategic
Theoretically and hypothetically, under a containment of China by the US is set to proximity, and the fact that the latter too is a resources and funds, which will also mean
global geopolitical architecture that is continue. This is why Asean should steer clear claimant country. that both the burden and profit are shared,
cohesive and marked by consensus, driven by of either bandwagoning or hedging its bets thus making conflict too costly and
accepted and recognised norms and (i.e. playing both sides) via Ipef – which can be The strategic and military situation in SCS undesirable.
reinforced by a rules-based order/framework, inimical to the pre-existing Regional definitively impact the Taiwan Straits.
the US will find it hard-pressed to engage in Comprehensive Economic Partnership and Therefore, Asean’s Code of Conduct (CoC), as The governing entity in the SCS will also
proxy wars. other areas of strategic cooperation, making its own manifestation of the rules-based order act as a stabilising force, with implications for
joint-development (JD) in the SCS even more and backed by a common Asean defence cross-straits relations between China and
US’s strategic interests thrive on sabre- difficult to achieve. arrangement, would be the ideal middle Taiwan.
rattling and brinkmanship, even in the ground approach that “interposes” between
absence of wars and conflicts. The role of the The US’s place in the Indo-Pacific region, China’s “aggressive” stance and the US’s As the centre of gravity continues to shift to
US is only to counterbalance the as outlined in the White House document, “enthusiastic” response. And be a kind of a the Indo-Pacific, it is critical that the outlines
intransigence and belligerence of China, e.g. should not be used as justification to “hijack” third force, albeit localised, that strikes a of the strategic considerations are drawn to
in the event the dynamics are a prelude to the Asean centrality agenda. balance between the two superpowers and, leave out any ambiguity, and hence, Asean
conflict. hence, manage the strategic competition centrality.
In strengthening its long-term position and between the two.
In other words, the role of the US can only commitment to the Indo-Pacific, the US must On the other hand, we can allow for some
be conceived as a kind of a backstop, i.e. either give specific and due recognition to the Such a situation will also provide space for flexibility in terms of the rules, so long as the
to stop/prevent a conflict from emerging or geographical, geosecurity and geopolitical JDs, as first mooted by Deng Xiaoping, former underpinning norms are based on clear and
that of deterrence. Therefore, the return to complexity and diversity of the entire region – leader of China. This is to lock in the strategic unequivocal principles. This is to allow some
Asean centrality. such that its position cannot be replicated and economic interests of both sides and to make space for both China and Asean to manoeuvre
expanded throughout and beyond the conflict near impossible to materialise. in recognition that one is a superpower and
Asean must step up and further heighten pre-existing military bases and security the other is a middle-power, albeit, collective
its “sense of destiny” with a bold and arrangements, without undermining, A common Asean defence force, while far and balancing force.
ambitious vision to play a more proactive and upsetting and disrupting the regional from reality, would introduce a calculus that
prominent role in the Indo-Pacific region – architecture. will make the costs of conflict outweigh the A unipolar, or even a bipolar, world is no
and seek to negate the “exclusive spheres of benefits. Be that as it may, the time has truly longer feasible and sustainable. The Indo-
influence” of the superpowers, be it the US or The Western Pacific region or rather the come for a non-military solution to be Pacific region, sans the US, must be allowed to
China. southwestern Pacific is different from the rest explored. chart our own course and determine the
of the wider region, with its own perspectives direction of our future, without outside
Asean already has an Indo-Pacific Outlook and concerns and vision. The JD model by China remains a viable interference.
consisting of the following principles: and feasible option to pursue both in the
0 A perspective of viewing the Asia-Pacific Geoeconomic linkages and supply-chains medium- and long-term. This is a call for the This makes for a multipolar world – it is not
and the Indian Ocean regions, not as do not necessarily extend to setting up of an entity that is separate from a matter of a hegemon repivoting to the
contiguous territorial spaces but as a closely geopolitical/geosecurity alliances, at least for Asean, that will regulate and manage the SCS, Indo-Pacific region, – but re-envisioning its
integrated and interconnected region, with Asean as a whole. And even regular and which will be endowed with executive, role and place in a changing global order
Asean playing a central and strategic role; customary joint-military exercises do not legislative and semi-judicial powers. In effect, which precludes protectionism, but security
0 An Indo-Pacific region of dialogue and necessarily translate into concrete military national sovereignty in this regard will be cooperation made possible by economic
cooperation instead of rivalry; commitments in the form of a North Atlantic “pooled” and “shared” and, therefore, cooperation, without compromising on
0 An Indo-Pacific region of development Treaty Organisation-like alliance. Towards mediated via the SCS coordinating body. national security.
and prosperity for all; this end, it is vital that Asean seeks to
0 The importance of the maritime domain counterbalance and dilute the outlook of Ipef. A JD between China and a claimant Dr Rais Hussin is the CEO of
and perspective in the evolving regional country, including Malaysia, should not be EMIR Research, an independent think tank
architecture. Malaysia should leave behind the simply dismissed as pure fantasy or forlorn
traditional Five Power Defence Agreement hope. But an action plan or roadmap should focused on strategic policy
that was set against the backdrop of the Cold recommendations based on rigorous research.

Comments: [email protected]

9theSUN ON TUESDAY | SEPTEMBER 13, 2022
SPEAK UP

Arctic Circle on thin ice

COMMENTby Benedict Lopez phenomenon known as “Arctic
amplification”.
THE Arctic Circle, in the most Studies reveal that the Arctic’s Polar bears may become
northern part of the earth, is extinct if no action is taken
a vast land mass stretching warming has increased in the last few to check the diminishing
across eight different decades and spiked sharply in the ice in the Arctic Circle.
mid-1980s and in 1999. Arctic has affected plants, animals and
warming fluctuates based on time of inhabitants residing in the region.
year and topography, and is most Colossal damage, with the loss of sea
intense during autumn. Warming is ice, is endangering the existence of
countries, i.e. Canada, Denmark also pronounced above the Arctic polar bears. If no action is taken
(Greenland), Finland, Iceland, Circle, while places with a wider immediately to check the
Norway, Sweden, Russia geographic region may diminishing ice sheets, polar bears
and the United States experience marginally- may one day be extinct.
(Alaska). reduced heating. Sailing routes, once permanently
Kiruna, which is “The Arctic Circle is in The rapid rise in braced with ice, are breaking up
dire crisis. The onus faster than anticipated, causing
located in the northern heating is triggering the environmental risks of shipping to
part of the Swedish thawing of ice and these pristine waters.
Lapland, is around is on all countries in glaciers at the Arctic Flora and fauna are also being
145km past the Arctic the world to Circle, resulting in the destroyed as a result of climate
Circle. Temperatures Arctic Sea ice change and increased global
here are extremely cold collaborate towards progressively declining.
in the winter, falling as reducing the This occurrence is
low as -20°C. taking place faster than
My former Malaysian emission of expected.
greenhouse gases
Investment Concurrently, the
Development Authority and shrinking earth’s atmosphere is
Stockholm colleague, carbon footprint. It is changing as it gets
Nik Faizal, and I crossed not only the warmer. Some of these
the Arctic Circle on Feb responsibility of the changes are altering the
25, 2013 when we went eight Arctic Circle ways that heat flows
on an official visit to countries to save this north from the equator,
Kiruna. A certificate is which is affecting Arctic
given to those who cross temperatures and warming, which has led to intense are not implemented now to tackle
the Arctic Circle. accelerating the speed fires in some countries. this critical global crisis. Measures
According to a recent part of the planet, at which the ice is undertaken to preserve the Arctic
study, the Arctic Circle but the moral melting. Swift mitigation efforts can reduce Circle will also have positive impacts
has warmed nearly four obligation of the Fluctuations in warming, for example, reduction in on Antarctica too.
times faster than the entire human race. temperatures are the use of harmful pollutants.
global average over the caused by a The global community must work
last 43 years. This is a combination of The Arctic Circle is in dire crisis. zealously towards reducing emitting
cause for concern. greenhouse gas The onus is on all countries in the pollutants in their respective
Scientists concluded emissions and human- world to collaborate towards countries.
that the temperature in caused climate change. reducing the emission of greenhouse
the Arctic has increased by 0.75°C Studies indicate that the Arctic gases and shrinking carbon footprint. This can be done by ending
per decade. warming affects climate patterns It is not only the responsibility of the reliance on fossil fuels while engaging
For years, scientists have been elsewhere around the globe as well. eight Arctic Circle countries to save in forest preservation, sustainable
aware that the Arctic is warming The Arctic’s physical appearance this part of the planet, but the moral development and restoration of
faster than the rest of the planet – a has changed vastly over the years and obligation of the entire human race. damaged ecosystems.
Comments: [email protected]
Future generations will pay a
heavy price if far reaching measures

Separate attorney-general A ‘happy classroom’ makes for
and public prosecutor powers better learning

COMMENT law as can be observed in the case of Long Samat █ BY DR DIREAK MANMANAH engage students should be used in class.
by Dr Muzaffar Syah Mallow and Others v PP (1974), where Tun Mohamed AND DR PHATHARA-ON WESARAT 4. Reducing gap between lecturers and
Suffian, then lord president of the Federal Court, MANY studies have confirmed that happy students: The gap between lecturers and
THE time has come for us to take a bold step in interpreted the scope and extent of this power and students will be motivated to achieve students can have a negative impact on
creating a more transparent administration said: “In our view, this clause from the supreme academic excellence. Students in higher the students’ motivation to learn, for
system, especially within the legal institutions, law clearly gives the AG a wide discretion over the education are in transition from example, age gaps, different levels of
namely in separating the powers of the attorney- control and direction of all criminal prosecutions. adolescent to adulthood. Designing an education and different experiences.
general (AG) and public prosecutor (PP). Not only may he institute and conduct any enjoyable learning process for them can Lecturers who understand the generation
proceedings for an offence, he may also be a challenging task for lecturers. gap will be able to adopt the appropriate
Lately, there have been calls for major discontinue criminal proceedings that he has teaching techniques to encourage
reformation to our country’s administrative, instituted, and the courts cannot compel him to Creating a suitable learning students to be involved in learning
enforcement and legal institutions, including the institute any criminal proceedings which he does environment will lead to a “happy activities.
separation of the powers of the AG and PP. Such a not wish to institute or to go on with any criminal classroom”. But the learning environment 5. Be ready to teach: Lecturers are
proposal is not new. proceedings which he has decided to discontinue. can be influenced by cultural values. To human beings too. Every lecturer has
sustain a happy classroom, cultural work and personal issues. Some lecturers
As provided for in our Federal Constitution, the He goes on to say that: “Anyone who is barriers need to be eliminated. Below are tend to use lecture times to talk about
roles of the AG and the PP are bonded into one dissatisfied with the AG’s decision not to ways to ensure a good learning their personal problems. Lecturers should
entity. Article 145(2) of the Constitution stipulates prosecute, or not to go on with a prosecution or his environment based on an Asian context: leave their personal problems at home.
that: “It shall be the duty of the AG to advise the decision to prefer a charge for a less serious 1. Promote equality: The power in the This is to maintain a good atmosphere in
Yang di-Pertuan Agong or the Cabinet or any offence when there is evidence of a more serious classroom usually belongs to the lecturer. the classroom, which in turn, will lead to
minister upon such legal matters, and to perform offence which should be tried in a higher court, In traditional cultures like in China, Japan, students’ academic achievement.
such other duties of a legal character, as may from should seek his remedy elsewhere but not in the Thailand, Malaysia and many other 6. Playing different roles: The primary
time to time be referred or assigned to him by the courts”. countries in Asia, seniority is respected, role of a lecturer is teaching. But in the
Agong or the Cabinet, and to discharge the and hence, students are less forthcoming 21st century, lecturers have expanded
functions conferred on him by or under this This statement is a clear indication that the in expressing an opinion. However, there their role beyond teaching. According to
Constitution or any other written law”. courts have no right to intervene with any decision are occasions where bright students are the World Economic Forum, the skills
made by the AG. There have been many reported given an opportunity to engage the needed in the 21st century include critical
At the same time, Article 145(3) provides that: cases stressing similar points. lecturer. In such a case, weak students are thinking, creativity, communication,
“The AG shall have power, exercisable at his left behind without being able to voice problem-solving, etc. Students who only
discretion, to institute, conduct or discontinue any Therefore, it is extremely important that the two their views. As such, all students should absorb information from the lecturers
proceedings for an offence, other than offices be separated because of the different nature be treated equally and fairly. cannot acquire such skills. The role of the
proceedings before a Syariah court, a native court and roles played by the respective persons in 2. Creating a comfortable environment: lecturer has shifted from just lecturing to
or a court-martial”. upholding the rule of law. Additionally, to avoid a Students are bound to give wrong coaching. Sometimes, lecturers need to
conflict of interest, it is vital that their portfolios be answers. And lecturers should be play more roles such as being friends and
According to the Articles cited above, the AG separated. This will increase public trust and prepared to respond to students who give counsellors, to make students relax and
acts as the legal adviser to the government and confidence in the country’s administrative and wrong answers. This will motivate them to enjoy learning.
ensures its actions do not contravene the law. At legal institutions. participate in the classroom.
the same time, he is also responsible for the 3. Design variety in learning activities: These strategies will help students
prosecution of individuals except for cases The government should create a special Every course involves various activities achieve better learning outcomes.
involving Syariah, native or military laws, and can committee to analyse the above proposal. The and the use of different learning tools. If
stop any move to initiate criminal proceedings. committee members should consist of people who every lecture is conducted in the same Assoc Prof Dr Direak Manmanah and
These Articles have set the tone for the fused roles are experts in the legal field and include teaching style, students will get bored and Assoc Prof Dr Phathara-on Wesarat are
of the AG and the PP. academicians. cannot achieve results. Thus, the use of from the Faculty of Humanities and Social
various teaching and learning methods to
The existing power given to the AG seems Dr Muzaffar Syah Mallow, Associate Professor, Sciences, Prince of Songkla University
absolute and cannot be questioned by any court of Faculty of Syariah and Law, Universiti Sains Islam (Pattani Campus), Thailand.

Malaysia. Comments: [email protected]

10 theSUN ON TUESDAY | SEPTEMBER 13, 2022 New IOI Galleria launched in
MEDIA & MARKETING Bandar Putra Kulai, Johor

IMU students demonstrating CPR at the event. o The gallery showcases comprehensive integrated development is conveniently accessible to the
development which boasts amenities for golf, sports, North-South Highway and Senai Desaru
Preparing the shopping, education, dining, entertainment and healthcare Expressway.
public for health
emergencies IOI Properties Group Berhad (IOIPG) has outlets which are open to the public. There is Among these amenities, IOI Mall Kulai has
launched its new IOI Sales Galleria and also an amphitheatre at the site. been the preferred shopping haven for the
INTERNATIONAL Medical University (IMU), show village in Bandar Putra Kulai, Johor. residents of Bandar Putra Kulai. It comes
Malaysia’s first and most established private Located in the centre of Bandar Putra Lim Beng Yeang, Chief Operating Officer complete with a supermarket, speciality
and health sciences university, in collaboration Kulai, the gallery showcases the IOIPG, who was also present at the launch, said shops, a bookstore, fashion boutiques,
with Hospital Tuanku Ja’afar Seremban, jointly comprehensive integrated development which that this new Sales Gallery reflects the Group’s restaurants and more. For avid golfers, IOI
organised a public health day to educate the boasts a diverse array of amenities for golf, business innovation process to achieve better Palm Villa Golf & Country Resort is a
public on acting and responding swiftly during sports, shopping, education, dining, customer service by elevating customer prestigious destination that offers a variety of
disasters and emergencies. entertainment and healthcare. experience through better service quality and golfing challenges as well as a comprehensive
customer engagement. This experience within range of club facilities which is surrounded by
The half-day event, held at Kompleks Belia The modern design of the gallery invites the show village showcases exhibits product elements of nature. Sports enthusiasts can also
dan Sukan Paroi, was officiated by State potential homeowners to view their property of designs and new home concepts that awaits at enjoy the many recreational activities at Putra
Executive Councillor and State Health, choice in luxurious comfort and engage with Bandar Putra Kulai. Sports Complex which is equipped with a
Environment, Cooperatives and Consumerism our friendly customer care. There are large swimming pool, sauna, gym and
Action Committee Chairman YB Veerapan relaxation spaces and minibars with snacks Meanwhile, it showcases Bandar Putra badminton courts.
Superamaniam, who represented the Menteri readily available for children. The 9,200 square Kulai, a 5,700-acre flagship development in the
Besar of Negeri Sembilan. feet gallery also comes with over 200 car park Southern region which is home to 50,000 The launch attracted residents from within
lots, public restrooms, on-site F&B outlets and residents with about 14,956 units of residential, the township and nearby communities. They
It is the first large-scale public education spots for food trucks. The show village houses commercial shops and industrial factories. To enjoyed the entertainment prepared for the
and awareness programme on disaster 12 show units to introduce Arcela and the date, up to 2,500 acres have been developed. It event which included street buskers, a ‘live’
management and health emergency that is newly launched Sonatia, which offers single- comes complete with amenities such as a retail band, a DJ station spinning the latest hits and
initiated by IMU as part of its community storey semi-detached homes and double- mall, an 18-hole golf resort, a central town a ‘live’ cooking station dishing out delicacies
projects. storey park homes, respectively, and 6 F&B park, both primary and secondary schools for the crowd.
including many other public amenities. The
At the event, the public with the help of “At IOI Properties Group, we are committed
volunteers from IMU’s School of Medicine and The event was well received by visitors. to building a trusted brand that delivers on its
staff from Hospital Tuanku Ja’afar Seremban promises, contributes to community building
were shown various life-saving techniques and maintains a high standard of integrity in
during emergencies. These included our work. In line with our transformation
cardiopulmonary resuscitation (CPR), which is going forward to consistently provide excellent
useful for emergencies such as heart attack or service, this new Sales Gallery reflects the
near-drowning; chest compression for anyone Group’s efforts in elevating customer
experiencing a choke; limb stabilisation before experience through better service quality and
moving someone with fractures; and other care customer engagement. The show village will
and safety measures. serve to showcase the design concept of our
products and also the built environment of the
Held in conjunction with IMU’s 30th township, Bandar Putra Kulai,” said IOI
Anniversary themed ‘Nurturing Leaders Today,’ Properties Group Berhad Chief Executive
IMU hopes to nurture more first responders Officer, Dato’ Voon Tin Yow, who officiated the
among the public who will lead and help sales gallery and show village.
during emergencies to help save more lives.
Also present at the ceremony were Nicole
Volunteer Khadijah Kubra Nor Firdaus said Lee Chee Yiing, Head of Sales, Marketing &
she is happy to have attended the event and Branding, Melissa Tan Swee Peng, Chief
had learnt some of the basic first aid Financial Officer, Lim Beng Yeang, Chief
procedures. Operating Officer (Property Johor) and Kelvin
Tang Yong Teck, General Manager (Kulai
“More people should come and experience Precinct).
events like this and learn first-hand from
professionals instead of learning from The Group continues to demonstrate its
YouTube. Knowing first aid is useful so that we commitment to environmental, social and
know what to do during emergencies,” she said. governance (ESG) initiatives by ensuring that
the new IOI Sales Galleria has received its
Roslan Haji Khalili, another volunteer from Green Building Index (GBI) certification. The
the public said more events like this should be sales gallery is partly powered by solar energy.
conducted so the public can learn and help Additionally, IOIPG transplanted 60 trees to
during emergencies. the new Sales Gallery to further its
environmental conservation efforts.

With the launch of our new IOI Sales
Galleria and show village, we are ready to
welcome members of the public to this
amazing space within Bandar Putra Kulai,
Johor.

S E C U R I T I E S S D N. B H D. TUESDAY
SEPTEMBER 13, 2022
197201001092 (12738-U)
Editorial Tel: 03-7784 6688
A Participating Organisation of Bursa Malaysia Securities Berhad Fax: 03-7785 2624/5

A Trading Participant of Bursa Malaysia Derivatives Berhad Email: [email protected]
Advertising Tel: 03-7784 8888
12/9/2022 Fax: 03-7784 4424

Participation Bought Sold Net Email: [email protected]
RM m
% RM m RM m

49.4 Institutions 746.1 781.3 -35.2

32.7 Retail 499.6 511.9 -12.3

17.9 Foreign 300.6 253.1 47.5

100.0 1546.3 1546.3 0 1.43 11.77 CLOSED CLOSED 327.36 224.01 CLOSED 70.30
KLCI STI NIKKEI TSEC S&P/ASX200
Preliminary stats (excluding trade amendments). For final data, please refer to www.bursamalaysia.com 1,497.96 3,274.72 HANG SENG SCI 28,542.11 14,807.43 KOSPI
Source: Bursa Malaysia 6,964.50

KL MARKET SUMMARY Maybank to move HQ
September 12, 2022

INDICES 10,655.50 CHANGE +27.37 to Menara Merdeka 118
FBMEMAS
FBMKLCI 1,497.96 +1.43
CONSUMER PRODUCTS 572.91 -1.48
INDUSTRIAL PRODUCTS 185.18 -0.42
CONSTRUCTION 158.00 +0.40
FINANCIAL SERVICES 16,885.80 +68.64
ENERGY 716.46 +9.30
TELECOMMUNICATIONS 592.51 -0.35 o Bank signs 21-year
HEALTH CARE 1,577.52 +22.54 tenancy agreement with
TRANSPORTATION 827.73 +5.19 PNB, relocation to begin in
PROPERTY 655.26 +0.80 first quarter of 2025
PLANTATION 6,977.42 -16.50
FBMSHA 10,722.90 +29.47
FBMACE 4,894.19 +35.71
TECHNOLOGY 64.92 +1.35

TURNOVER VALUE █ BY GLORIA HARRY BEATTY
2.627 BIL RM1.546 BIL [email protected]

5 MOST ACTIVES KUALA LUMPUR: Malayan Banking Bhd
September 12, 2022 (Maybank), which yesterday signed a 21-
year tenancy agreement with Permodalan
STOCK VOL CLSG (sen) +/– (sen) Nasional Bhd (PNB) to lease space in
MTRONIC 290,057,500 3.0 -0.5 Menara Merdeka 118 here, will move its
CSH 182,832,800 4.5 +0.5 corporate head office to the world’s second
SNS 109,499,400 28.0 +2.0 tallest building in the first quarter of 2025
VELESTO 106,405,800 10.0 +1.5 (Q1’25).
TOPGLOV 59,159,800 82.0 +2.5
Maybank group president and CEO
5 TOP GAINERS Datuk Khairussaleh Ramli said it will Khairussaleh (left) and Ahmad Zulqarnain at the signing ceremony.
September 12, 2022 occupy 33 floors in Menara Merdeka 118,
which is expected to house some 5,900 currently based in Dataran Maybank allows Maybank to realise rental income
STOCK VOL CLSG (RM) +/– RM employees of the bank in the new building. including Maybank Islamic, Maybank while deferring the disposal of Menara
PMBTECH-LA 7,100 20.30 +1.30 All existing offices within Menara Maybank Investment Bank and Maybank Asset Maybank to a later date when the real estate
MPI 268,000 29.90 +0.70 in Jalan Tun Perak, its current head office, Management, will also relocate. market recovers further.
IMASPRO 13,900 4.95 +0.45 will relocate to the new building on a
PETDAG 82,700 21.86 +0.28 staggered basis starting Q1’25. Both parties have entered into a tenancy PNB will manage Menara Maybank as
RAPID 22,300 13.54 +0.24 agreement for Menara Merdeka 118 and well as source for new tenants, ensuring the
Khairussaleh said in his speech during concurrently a lease agreement on a triple building continues to generate revenue
5 TOP LOSERS the signing ceremony that the company net basis for Menara Maybank. The tenancy after the relocation of Maybank’s
September 12, 2022 considered several options when evaluating agreement is for an initial term of three operations. Additionally, the agreement
a new head office, including refurbishing years and renewal for a further six terms of includes an option to sell Menara
STOCK VOL CLSG (RM) +/– RM the 35-year old Menara Maybank, three years per term, totalling an overall Maybank.
NESTLE 44,100 131.00 -0.90 constructing a brand new head office or duration of 21 years.
PANAMY 10,500 25.42 -0.36 renting office space from a new building As the anchor tenant of Menara Merdeka
KLK 1,320,900 22.00 -0.32 that would meet future operational Under the triple net basis agreement, 118, Maybank has been offered naming and
BKAWAN 11,800 22.50 -0.30 requirements. PNB will be the master lessor of Menara signage rights over the building by PNB.
APB 4,284,500 0.955 -0.225 Maybank and bear all expenses related to
He explained that the Kuala Lumpur the building including maintenance, Menara Merdeka 118 is 92–93%
main branch in Menara Maybank will insurance and taxes. This lease agreement constructed and is on track for completion
remain and there will be no impact on by year end.
customers who have accounts with the
branch. Selected Maybank subsidiaries

EXCHANGE RATES SEPTEMBER 12, 2022 M’sian 2022 GDP growth may surpass official estimate

Foreign currency Bank sell Bank buy Bank buy KUALA LUMPUR: Malaysia’s economic months, our monetary policy remains today this year. Of course, Malaysia being a
growth may surpass the official estimates of accommodative although Bank Negara net exporter of commodities has helped.
1 US DOLLAR TT/OD TT OD between 5.3% and 6.3% in 2022 as the Malaysia has increased the Overnight Policy We are an integral part of the (global)
1 AUSTRALIAN DOLLAR 4.5635 4.4305 4.4205 country saw faster growth in the second Rate by 25 basis points to 2.50% which is still supply chain for manufacturing,” he added.
1 BRUNEI DOLLAR 3.1410 3.0160 3.0000 quarter at 8.9% and a strong performance is lower than what it was before the (Covid-
1 CANADIAN DOLLAR 3.2600 3.1670 3.1590 expected in the third quarter. 19) crisis at 3.0% to 3.25%,” he said at the As for Budget 2023, the finance minister
1 EURO 3.5000 3.4080 3.3960 Recovery and Resilience: Spotlight on said the government will be focusing on
1 NEWZEALAND DOLLAR 4.6000 4.4520 4.4320 Finance Minister Tengku Datuk Seri Asean Business forum yesterday. three key areas, namely maintaining
1 SINGAPORE DOLLAR 2.8010 2.6980 2.6820 Zafrul Tengku Abdul Aziz said Malaysia is economic growth, making sure the
1 STERLING POUND 3.2600 3.1670 3.1590 likely to chart even stronger growth in the Tengku Zafrul said subsidies have economic growth is sustainable and
1 SWISS FRANC 5.3180 5.1510 5.1310 third quarter despite facing a weaker global helped to soften the blow of high energy inclusive, and fiscal responsibility.
100 UAE DIRHAM 4.7540 4.6450 4.6300 economy as well as the rising US dollar. prices on Malaysians and in managing the
100 BANGLADESHTAKA 125.7000 119.2500 119.0500 inflation rate. However, the subsidy bill will On the ringgit, Tengku Zafrul stressed
100 CHINESE RENMINBI 4.8840 4.5850 4.3850 “The new number (forecast) will be be in the region of RM80 billion this year, that the government will not be too fixated
100 HONGKONG DOLLAR 66.3600 63.5400 announced on Oct 7. which is the largest in the country’s history. on the performance of the currency as it
100 INDIAN RUPEE 58.7700 55.8600 N/A continues to focus on the mid-to-long term
100 INDONESIAN RUPIAH 5.8300 5.4700 55.6600 “Also important is that inflation in “We are fortunate to see where we are performance of the economy. – Bernama
100 JAPANESE YEN 0.0318 0.0288 Malaysia is around 2.8% in the first seven
100 NEWTAIWAN DOLLAR 3.2000 3.0990 5.2700
100 PAKISTAN RUPEE 15.9000 0.0238 Automation, digital tech high on agenda of Budget 2023
100 PHILIPPINE PESO 2.0200 N/A 3.0890
100 QATAR RIYAL 8.1500 1.9000 KUALA LUMPUR: Malaysia’s upcoming equitable economic growth. innovation in Malaysia, the government has
100 SAUDI RIYAL 125.5700 7.6900 N/A Budget 2023 will focus on the use of In order for Malaysia to become a high- approved 99 projects and programmes in
100THAI BAHT 122.8300 119.2100 1.7000 automation and digital technology and the research, development, commercialisation
13.0800 116.6100 7.4900 development of a future-ready workforce, income country, it is important to ensure and innovation from 2021 to 2022, with an
11.6100 119.0100 said Deputy Finance Minister, Yamani that the country’s digital ecosystem is investment totalling RM5.6 billion,” he said
116.4100 Hafez Musa. strengthened and that future talent is in his speech during the opening ceremony
11.2100 honed, he said. of the KL Venture Finance Forum 2022 and
He said the government, in Malaysia Debt Ventures Bhd’s 20th-
Source: Malayan Banking Berhad/Bernama collaboration with various parties, is “Digitalisation, technology adoption and anniversary celebration here yesterday. –
actively preparing the nation for digital innovation are important for sustainable Bernama
transformation to drive sustainable and growth.

“To support the development of

12 theSUN ON TUESDAY | SEPTEMBER 13, 2022 FOLLOW ON INSTAGRAM SCAN
SUNBIZ ME
@thesundaily
FOREIGN INVESTORS NET
BRIEFS SOLD RM42M LAST WEEK BAuto Q1 profit soars fourfold,
declares 3 sen dividend
PETALING JAYA: The healthy trend of
foreign funds into Bursa Malaysia took PETALING JAYA: Bermaz Auto o Strong results due to increase in revenue, The automotive sector was
a halt after seven consecutive weeks Bhd’s (BAuto) net profit for the first positive contribution from Mazda Malaysia impacted by the worldwide
of net inflows as foreign investors net quarter ended July 31, 2022 jumped and strengthening of ringgit against yen microchips and components
sold RM42.49 million last week. MIDF over four-folds to RM50.16 million shortage, which affected production
Research said foreign investors were from RM10.27 million a year ago in expense of RM400,000 in the payable on Nov 4, 2022. and resulted in a huge backlog in
net sellers from Monday to Thursday line with the increased in revenue, quarter as compared to RM500,000 The group continues to register the delivery of vehicles to
before turning net buyers on Friday. the positive contribution from its in the preceding year customers.
“The bulk of the foreign net outflows associated company Mazda corresponding quarter. positive results for its current
were seen on Tuesday and Malaysia Sdn Bhd and the quarter mainly attributable to the To facilitate customers who
Wednesday at RM42.18 million and strengthening of the ringgit against The board has approved and surge in sales prior to the expiry of made their bookings before June 30,
RM45.72 million. Foreigners also net the yen. declared a first interim dividend of 3 the sales tax exemption incentive, 2022 to be eligible to the sales tax
sold RM3.89 million on Monday and sen single-tier dividend per share in the reopening of the country’s exemption incentives, the
RM2.6 million on Thursday before net Revenue more than doubled to respect of financial year ending economy under the “transition to government has allowed them until
buying RM51.9 million on Friday,“ it RM716.87 million from RM320.79 April 30, 2023. The entitlement date endemic” phase and the launching March 31, 2023 to register their
said in its fund flow report. In terms of million a year ago mainly due to the has been fixed on Oct 14, 2022 and of the all-new Kia Carnival. vehicles with the Road Transport
participation, there was a decline in increase in overall sales volume Department. This augurs well for
average daily trade value across the from the group’s Mazda, Peugeot the automotive sector.
board, led by foreign investors at and Kia operations in Malaysia as
41.5%, retailers at 13% and local consumers rushed to register their “However, despite such
institutions at 8.26%. vehicles before the expiry of the extension given, the automotive
sales tax exemption incentive sector continues to face disruption
HENGYUAN ESTABLISHES period on June 30, 2022. The challenges from the ongoing
RM5B UNRATED MTN exceptionally lower revenue shortage of microchips and
recorded in the preceding year components as well as shipment
KUALA LUMPUR: Hengyuan Refining corresponding quarter was mainly delays. Premised on the foregoing
Company Bhd is establishing an due to the total lockdown under and barring any unforeseen
unrated medium-term notes (MTN) Phase 1 of the National Recovery circumstances, the board
programme and has secured multi- Plan in June and July 2021. anticipates the performance of the
currency revolving credit facilities. It group for the rest of the financial
said the unrated MTN programme of The group has also accounted year ending April 30, 2023 to remain
up to RM5 billion in nominal value for its employees’ share scheme encouraging,“ said BAuto.
will be issued in tranches over a
tenure of 30 years via bought deal or Malaysia ranks 49th among 165 jurisdictions
private placement. “The acceptance in economic freedom: CME survey
of the multi-currency revolving credit
facilities include credit facilities of up PETALING JAYA: Malaysia is ranked The same may be recorded for For example, countries in the top in fact, despite improvements in the
to US$235 million and RM250 million. 49 out of 165 countries and Malaysia in 2021, added CME CEO quartile of economic freedom had size of government and legal system,
“The multi-currency revolving credit territories included in the Economic Dr Carmelo Ferlito, as the country an average per-capita gross domestic we observed deterioration in the
facilities are offered by AmBank (M) Freedom of the World: 2022 Annual was among the strictest ones in product of US$48,251 (RM217,617) access to sound money, in the
Bhd, China Construction Bank Corp Report released by the Center for terms of lockdowns and growing role in 2020 compared to US$6,542 for freedom to trade internationally and
Labuan Branch and Malayan Banking Market Education (CME) in of government control over the bottom quartile countries. And in the regulation of credit, labour and
Bhd,” it said in a filing with Bursa conjunction with Canada’s Fraser economy. poverty rates are lower. In the top business. We expect these figures to
Malaysia yesterday. – Bernama Institute. quartile, 2.02% of the population deteriorate further next year. At the
The report, launched in 1996, experienced extreme poverty same time, such figures indicate the
WIDAD BAGS RM40M The rating and rank refer to data measures economic freedom — the (US$1.90 a day) compared to 31.45% road of action to put Malaysia back
CONTRACT FOR on year 2020. The year before – in ability of individuals to make their in the lowest quartile. Finally, life on track in the path toward economic
THE LANGKASUKA 2019 – Malaysia ranked 52. However, own economic decisions — by expectancy is 80.4 years in the top freedom: we should not forget that in
the improved ranking does not analysing several indicators quartile of countries compared to 1980 Malaysia ranked 22 (rather than
PETALING JAYA: Widad Group Bhd reflect a better score, but a relative including regulation, size of 66.0 years in the bottom quartile. the current 49) and in 1990 it
wholly owned subsidiary Widad deterioration in the ranking of other government, property rights, improved to the 18th position,”
Builders Sdn Bhd has bagged a RM40 countries. In fact, while the overall government spending and taxation. “Where people are free to pursue explained Ferlito.
million contract from Widad Business Economic Freedom rating for their own opportunities and make
Group through its wholly owned unit Malaysia was 7.52 in 2019, it The year’s report, based on 2020 their own choices, they lead more The Fraser Institute produces the
Langkasuka Land Sdn Bhd for the declined to 7.35 in 2020. data (the most recent available), also prosperous, happier and healthier annual Economic Freedom of the
construction and completion of captures the effect of Covid-related lives,” McMahon said. World report in cooperation with the
earthworks at the RM40 billion The “When jurisdictions increase restrictions. Economic Freedom Network, a
Langkasuka, Langkawi. This is part of taxes and regulations, the people Malaysia scores in key group of independent research and
Phase 1 with a gross development become less economically free, The 10 lowest-rated countries are components of economic freedom educational institutes in nearly 100
value of RM4.45 billion for the master which means slower economic Democratic Republic of Congo, (from 1 to 10 where a higher value countries and territories. It is the
development plan of The Langkasuka. growth and less investment,” said Algeria, Republic of Congo, Iran, indicates a higher level of economic world’s premier measurement of
The contract consists of the execution Fred McMahon, Dr Michael A Libya, Argentina, Syrian Arab freedom): economic freedom, measuring and
and completion of the site clearance Walker Research Chair in Economic Republic, Zimbabwe, Sudan and 0 Size of government: changed to ranking countries in five areas — size
and earthworks, retaining wall, the Freedom with the Fraser Institute. Venezuela. Despotic countries such of government, legal structure and
environmental protection works and as North Korea and Cuba cannot be 7.12 from 7.04 in the last year’s security of property rights, access to
any associated work which is crucial Hong Kong and Singapore again ranked due to lack of data. report sound money, freedom to trade
for the completion of The Langkasuka. top the index, continuing their streak 0 Legal system and property rights: internationally and regulation of
as first and second respectively, The rankings of other major changed to 5.88 from 5.83 credit, labour and business.
45% OF LOCAL FIRMS YET while Switzerland, New Zealand, countries include Japan (12th), 0 Access to sound money: changed
TO SET BUDGET FOR Denmark, Australia, US, Estonia, Canada (14th), Germany (24th), Italy to 8.32 from 8.41 Economic Freedom of the World
SUSTAINABILITY INITIATIVES Mauritius and Ireland round out the (43rd), France (54th), Mexico (65th), 0 Freedom to trade internationally: measures how policies and
top 10. India (90th), Russia (94th), Brazil changed to 6.97 from 7.63 institutions of countries support
KUALA LUMPUR: About 45% of (114th) and China (116th). 0 Regulation of credit, labour and economic freedom. This year’s
Malaysian companies have still not “The most recent comprehensive business: changed to 8.47 from publication ranks 165 countries and
allocated a budget for sustainability data are from 2020. Hong Kong is According to research in top 8.67 territories. The report also updates
initiatives, despite the growing trend already showing a decline in peer-reviewed academic journals, “The figures show – like the data in earlier reports where data has
of sustainability demands by the freedom in 2020 and we expect the people living in countries with high general rating – a trend toward been revised.
country’s stakeholders, according to decline to continue going forward,” levels of economic freedom enjoy deterioration in economic freedom:
the Malaysia Businesses Sustainability McMahon said. greater prosperity, more political
Pulse Report 2022. The report was and civil liberties, and longer lives.
launched by the UN Global Compact
Network Malaysia & Brunei that
surveyed 261 respondents (125
corporates, of which 88 are private
limited companies, 21 multinational
companies, 14 government-linked
companies, and 121 micro, small and
medium enterprises). The report also
showed that 33% of Malaysian firms
claimed a lack of sustainable financing
plans. – Bernama

Johor targets investments from Japan, South Korea, US and UK

JOHOR BARU: Johor aims to attract equipment and data centres. “We are working on it for the second Lee said this in response to a of RM40 billion that includes the data
investments from four nations namely Johor can attract foreign direct half of the year, however, the investment question on Johor’s total investment centre sector, followed by Singapore
Japan, South Korea, the US, and the UK estimate cannot be determined as the target by the end of this year after the with an investment of RM4 billion for
in the second half of the year. investments, especially for large-scale total investments will be announced state registered a record high the medical equipment and
projects, he added. when the final (investment) decisions investment of RM60.9 billion from petrochemical sectors.
Johor investment, trade and are completed,” he said in a media January to June this year.
consumer affairs committee chairman “To date, active discussions were briefing after launching the Standards “For the first six months, China
Lee Ting Han said active discussions held with the US and UK for medical and Industrial Research Institute of According to Lee, China was the contributed 60% of overall investments,
have been conducted with these equipment and data centres, while with Malaysia engagement programme with biggest contributor to Johor’s followed by Singapore and South Korea
countries involving sectors like South Korea and Japan (discussions industries in Johor yesterday. investment for the six months to June involving the chemical and food
chemicals, petrochemicals, medical centred on) the chemical and this year, with an estimated investment processing sectors,” he said. – Bernama
petrochemical sectors.

Astro to invest more 13theSUN ON TUESDAY | SEPTEMBER 13, 2022
in local content, * SUNBIZ
streaming services
BCorp plans to raise up to
KUALA LUMPUR: Astro Malaysia Holdings S$30m from S’pore unit’s IPO
Bhd is set to invest further in global streaming
services on its platform and provide more o Singapore Institute of to be issued pursuant to the proposed listing of the SIAMH group for their contributions
local content via Astro Originals. Advanced Medicine Holdings can only be finalised when the IPO price is through the award of fully paid SIAMH
to undertake share split before determined by way of an independent book- shares under the performance share plan to
Astro group COO and CEO of TV Euan listing on Catalist Board building exercise. be established in conjunction with the
Smith said the company is building its proposed listing.
growing online presence and continuing to KUALA LUMPUR: Berjaya Corp Bhd The gross proceeds will be used for the SIAMH is principally an investment
look for opportunities to strengthen its digital, (BCorp) plans to raise up to S$30 million acquisition of new equipment and facilities holding company, while its subsidiaries are
broadband, and commerce businesses. (RM96.76 million) from the proposed listing and upgrading of systems and other facilities principally involved in the provision of
of its indirect subsidiary, Singapore Institute in the SIAMH group’s medical clinics (S$5 medical diagnostics and treatments as
“We will leverage digital, data and of Advanced Medicine Holdings Pte Ltd million); the expansion of professional well as radiation therapy and medical
technology to reimagine our business (SIAMH) on the Catalist Board of the teams and services (S$5 million); oncology services; which includes
models,” he told Bernama in an exclusive Singapore Exchange Securities Trading Ltd. working capital and/or part medical diagnostics and treatments
interview here. “Astro will continue to invest in repayment of bank borrowings (S$16.7 which cover cancer-related
its transformation plans, in particular content, Assuming a minimum initial public million) and estimated expenses for diagnostics and treatments, general
broadband, streaming, customer experience, offering (IPO) price of S$0.20 to raise the proposed listing (S$3.3 million). diagnostics and health screening
data, addressable advertising, and technology maximum cash proceeds of S$30 million, and aesthetic
infrastructure to simplify our processes.” BCorp’s equity interest in SIAMH, via In a stock exchange filing, BCorp services; and
Espeetex Sdn Bhd and Berjaya Leisure said the rationale radiation therapy
Smith said the company aims to make (Cayman) Limited, of 51.62% is expected to and benefits of the and medical oncology services which cover
Astro an “incredibly effective machine,” be diluted by up to 13.49% to 38.13% upon proposed listing proton therapy, photon therapy; and
offering the best content via the right completion of the listing. Thus, SIAMH is are, first, to enable the BCorp group to medical oncology.
products and platforms that resonate with expected to be an associate company of unlock the value of its investment in SIAMH Essentially, the SIAMH group is a
customers. BCorp upon completion of the proposed and provide a transparent valuation healthcare service provider using advanced
listing. benchmark for the same in Singapore; and, technology available for early and accurate
“We will continue to bring our customers second, to provide the group with a diagnosis to offer more appropriate
the best entertainment experience, and to do Prior to and in conjunction with the fundraising platform via the Singapore treatments for its patients. Its services cater
that we will further enhance the all-new Astro proposed listing, SIAMH will undertake a equity capital market, which in turn is to a wide spectrum of chronic illness and
experience by focusing on four touchpoints.” share split involving the subdivision of expected to increase its financing flexibility diseases, and other health conditions with a
existing SIAMH shares and convertible to fund its growth and expansion. focus on cancer, neurodegenerative and
Smith highlighted that Malaysia is preference shares (CPS) in SIAMH and cardiovascular diseases.
transitioning to over-the-top (OTT) services conversion of the CPS and other existing Third, it said, the listing will enable the The proposed listing is subject to the
in a streaming world with more consumers convertible securities of SIAMH. group to gain recognition from the public approval of BCorp’s shareholders at an EGM
looking for convenient ways to fulfil their and improve its corporate stature through its to be convened.
entertainment needs, paving the way for The exact number of new SIAMH shares own listing, which will assist in the Barring any unforeseen circumstances,
these streaming platforms. expansion of its customer base and thereby the proposed listing is expected to be
provide an opportunity for the it to enhance completed by the fourth quarter of 2022.
“However, the growing number of OTT its earnings for the benefit of its
services means that there is increasing shareholders; and, fourth, to retain and
saturation in the marketplace. With a reward the eligible directors and employees
proliferation of apps, the OTT space is getting
more fragmented and expensive.BRIEFS From left: Tan,
Syed Ali, Syed
“Customers are not willing to pay for Sayeed and
multiple streaming service subscriptions Mohamed
individually, as the costs really start to spiral Irfan at the
and it is complex to maintain all these signing
subscriptions, and finding what you want to ceremony.
watch is an increasing challenge.
BCorp, VDart enter into tech-driven collaboration
“Hence, it is why Astro welcomed the
partnership with global OTT players like Netflix, PETALING JAYA: Berjaya Corp Bhd (BCorp) “We are looking to expand our digital and Tan Chee Yioun. VDart Malaysia was
Disney+ Hotstar, iQIYI, TVBAnywhere+, and yesterday inked a memorandum of technology portfolio in the coming years to represented by its CEO Syed Sayeed Ahmed,
HBO GO as it aims to aggregate more global understanding (MoU) with digital consulting further strengthen our consumer-related who is also the group president and CEO of
streaming services to its platform. firm VDart Malaysia Sdn Bhd to explore and offerings. Technology is the catalyst for change VDart Inc, while managing director Mohamed
evaluate technology business opportunities in and growth. This MoU with VDart will Irfan Peeran acted as witness.
“We will continue to aggregate more the Asia-Pacific region. accelerate our vision towards becoming a
global streaming services onto our platform, global consumer group,“ said BCorp joint VDart Malaysia is the Malaysian affiliate of
with BeIN Sports Content, BBC iPlayer, and The MoU will enable both parties to group CEO Syed Ali Shahul Hameed in a US-based VDart, whose core businesses are in
Zee 5 already in the pipeline,” he said. – embark on a partnership in expanding the statement. technology consulting services and solutions,
Bernama technology business by leveraging cutting- digital and mobility solutions, product
edge products based on blockchain The MoU was signed by Syed Ali and development, and workforce and talent
RESERVOIR LINK’S RE technology. witnessed by BCorp chairman Tan Sri Vincent management services.
ARM WINS SECOND
TURNKEY JOB THIS YEAR OCBC Malaysia, Hong Leong Bank increase rates

PETALING JAYA: Reservoir Link Energy KUALA LUMPUR: OCBC Bank (Malaysia) “All loans and financing rates based on SBR, by 0.25% on the same day, it said.
Bhd’s 51% owned subsidiary Founder Bhd and its Islamic banking subsidiary OCBC BR and BLR/BFR will correspondingly Meanwhile, Hong Leong Bank and Hong
Energy Sdn Bhd has bagged a RM16.7 Al-Amin Bank Bhd will be increasing their increase by the same rate,” it said.
million contract from Savelite standardised base rate (SBR), base rate (BR) Leong Islamic Bank willincrease their SBR to
Engineering Sdn Bhd for the turnkey and base lending rate (BLR)/ base financing OCBC Malaysia said the SBR will increase 2.50, effective today.
construction and commissioning of a rate (BFR) by 0.25%, effective tomorrow. to 2.50% from 2.25%, BR to rise to 3.33% from
25MWac large-scale solar photovoltaic 3.08% and the BLR/BFR will be higher at 6.26% The BR and Islamic Base Rate (IBR) will be
plant in Perak. The group will provide all This is in line with the recent 0.25% increase from 6.01%. revised to 3.38% from 3.13% previously.
the preliminaries which include, but is in Bank Negara Malaysia’s Overnight Policy “Similarly, loans and financing based on the
not limited to, construction, installation Rate hike. Similarly, all conventional fixed deposit and BLR and Islamic Financing Rate will be revised
and commissioning of infrastructural, Islamic time deposit board rates will increase to 6.39% from 6.14%,” it said. – Bernama
civil, and structural works. The works are
expected to be completed by Dec 31,
2022. Reservoir Link executive director
Thien Chiet Chai said this is its second
turnkey contract win this year for its
renewable segment after having secured
one from Atlantic Blue Sdn Bhd last month.

HONG LEONG ASIA PACIFIC
EQUITY FUND HOLDERS GET
6 SEN INCOME DISTRIBUTION

PETALING JAYA: Hong Leong Asset
Management Bhd (Hong Leong AM) has
declared a gross income distribution of 6
sen per unit for Hong Leong Asia Pacific
Equity Fund (HLAPEF), for the period
from Jan 1 to July 31, 2022. The fund is
managed by Hong Leong AM’s external
fund manager Sumitomo Mitsui DS
Asset Management (Hong Kong)
Limited, a wholly owned overseas
subsidiary of Sumitomo Mitsui DS Asset
Management Company Limited.
HLAPEF’s distribution yield for the 12
months ending July 31, 2022 is 5.23%.

14 theSUN ON TUESDAY | SEPTEMBER 13, 2022

SUNBIZ

Biden to hit China with broader curbs

o Commerce Dept to forbid US companies with sub-14 nanometer processes letters only apply to the companies Technologies, Hewlett Packard
from exporting chipmaking equipment to unless the sellers obtain Commerce that receive them. Enterprise and Super Micro
Chinese factories that produce advanced Department licenses. Computer make data center servers
semiconductors unless they obtain licences Turning the letters into rules would that contain Nvidia’s A100 chip.
The rules would also codify broaden their reach and could subject
WASHINGTON: The Biden companies – KLA Corp, Lam Research restrictions in Commerce Department other US companies producing A spokesman for the Commerce
administration plans next month to Corp and Applied Materials Inc, the letters sent to Nvidia Corp and similar technology to the restrictions. Department on Friday declined to
broaden curbs on US shipments to people said, speaking on the Advanced Micro Devices last month comment on specific regulations but
China of semiconductors used for condition of anonymity. The plan for instructing them to halt shipments of The regulations could potentially reiterated that it is “taking a
artificial intelligence and chipmaking new rules has not been previously several artificial intelligence apply to companies trying to comprehensive approach to
tools, several people familiar with the reported. computing chips to China unless they challenge Nvidia and AMD’s implement additional actions to
matter said. obtain licences. dominance in artificial intelligence protect US national security and
The letters, which the companies chips. foreign policy interests,“ including to
The Commerce Department publicly acknowledged, forbade them Some of the sources said the keep China from acquiring US
intends to publish new regulations from exporting chipmaking regulations would likely include Intel Corp and startups like technology applicable to military
based on restrictions communicated equipment to Chinese factories that additional actions against China. The Cerebras Systems are targeting the modernization.
in letters earlier this year to three US produce advanced semiconductors restrictions could also be changed and same advanced computing markets.
the rules published later than Intel said it is closely monitoring the The planned action comes as the
expected. situation, while Cerebras declined to President Joe Biden’s administration
comment. has sought to thwart China’s advances
So-called “is informed” letters by targeting technologies where the
allow the Commerce Department to One source said the rules could US still maintains dominance. –
bypass lengthy rule-writing processes also impose license requirements on Reuters
to put controls in place quickly, but the shipments to China of products that
contain the targeted chips. Dell

UK growth shows signs of strain from surging prices BRIEFS INFLATION, CONTRACTION TO
PLAGUE GERMANY NEXT YEAR
LONDON: Britain’s economy grew by less than months to July, part of the surge in power costs would slip into a recession at the end of 2022 and
expected in July, with the sharp climb in energy that led to new Prime Minister Liz Truss not come out of it until early 2024, due in large BERLIN: Germany’s economy will contract
tariffs possibly pushing down demand for announcing a cap on domestic energy tariffs last part to the hit to living standards from the energy next year as a dramatic rise in energy costs
electricity and a leap in the cost of materials week. price surge, caused mostly by the war in Ukraine. due to the war in Ukraine extinguishes the
hitting the construction sector. chances of recovery after pandemic-related
That – and an expected round of tax cuts Despite the slowing economy, the BoE is lockdowns, the Ifo institute said yesterday in
GDP expanded by 0.2% from June, official promised by Truss – has reduced the risk of a expected to raise interest rates again on Sept 22 as a U-turn from its forecast three months prior.
data showed yesterday, weaker than a median severe hit to the economy starting later this year, it seeks to combat an inflation rate above 10%. The institute reversed its June forecast of
forecast of 0.4% and leaving the economy at risk albeit at a cost of £100 billion (RM521 billion) or 3.7% growth for 2023 and now predicts that
of falling into a recession. more to Britain’s already stretched public Separate trade figures also showed the impact Europe’s largest economy will contract by
finances. of soaring prices with the value of imports of fuel 0.3%. At the same time, it bumped up its
In the three months to July, GDP was flat hitting an all-time high of £11 billion in July and forecast for 2023 inflation by 6 percentage
compared with the previous three-month period. Last month, the Bank of England (BoE) representing a record 21% of all goods imports. – points to 9.3%.“The cuts in gas supplies from
forecast that the world’s fifth-biggest economy Reuters Russia over the summer and the drastic price
Electricity prices leapt by 54% in the 12 increases they triggered are wreaking havoc
on the economic recovery following the
IMF eyes expanded access to emergency aid for food shocks coronavirus,“ said Timo Wollmershaeuser,
head of Ifo’s economic forecasts. – Reuters
LONDON: The International Monetary Ukraine war causing Africa food shortages
Fund (IMF) is looking for ways to provide AIR INDIA TO EXPAND FLEET WITH
emergency funding to countries facing war- A UN assessment shows that as many as 25 African countries import 30 BOEING AND AIRBUS JETS
induced food price shocks, sources familiar more than one third of their wheat from Ukraine and Russia,
with the matter told Reuters. and 15 of them import over half NEW DELHI: Tata Group-owned Air India said
yesterday that it will lease 30 Boeing and
The plan, which has not previously been WHEAT IMPORTS FROM BLACK SEA REGION Russia Ukraine Airbus aircraft, expanding its fleet by more
reported, will be presented at an informal than 25%. Air India’s new owner faces an
board session. Somalia 100% uphill task to upgrade the carrier’s ageing
Benin 100% fleet and turn around its financials and
It would allow the IMF to help Ukraine Egypt 82% service levels. The latest deals comprise the
and other countries hit hard by Russia’s war Sudan 75% leasing of 21 Airbus A320neos, four Airbus
in Ukraine without imposing conditions D.R. Congo 69% A321neos and five Boeing B777-200LRs. The
required in a regular fund program, said the Senegal Food producers Airbus jets are expected to be deployed on
sources, who asked not to be named since Tanzania mixing flour from domestic and short-haul international
the matter is still under review. The size and Rwanda cheaper alternatives into routes. The B777-200LRs will likely ply routes
scope of the measures was not yet clear. Madagascar bread, pastries and pasta from Indian cities to the US. – Reuters
Congo
A formal vote backing the measure – Burkina Faso Rice DUTCH SHAREHOLDERS MULL
which has been developed by the IMF staff Gambia SUING PHILIPS OVER RECALL
in recent months – is expected before the Libya Corn 60%
Fund’s annual meetings in October, the Tunisia May 8: Wheat 20 AMSTERDAM: Dutch shareholders
sources said. Uganda up 44% since association VEB is threatening to take Philips
Burundi start of 2022 to court over its handling of a global recall of
If approved, it would temporarily Namibia respiratory machines, claiming it caused
increase existing access limits and allow all Mauritania Lentils billions in losses by giving incorrect
member countries to borrow up to an Kenya information to shareholders, Dutch paper
additional 50% of their IMF quota under the Togo WHEAT FD reported yesterday, citing a letter the VEB
IMF’s Rapid Financing Instrument, and the Mozambique sent to the company. Philips shocked
Rapid Credit Instrument that serves low- Malawi investors in June last year by recalling
income countries, the sources said. Cape Verde millions of respiratory machines used to
South Africa treat sleep apnea as foam used in the
Food prices surged worldwide after the Eritrea machines could degrade and possibly
start of the war given blocked supply routes, become toxic. In the letter cited by FD, the
sanctions and other trade restrictions, Price Feb 24: Russia RICE VEB said Philips is responsible for around
although a UN-brokered deal that allowed changes invades Ukraine €16 billion (RM72 billion) of those losses, by
resumed exports of grain from Ukrainian in 2022 giving false information over the machines
ports last month has begun to help improve Cassava 0 affected. – Reuters
trade flows and lower prices in recent
weeks. Jan Feb Mar Apr May ELECTROLUX WARNS ON
PROFIT, PLANS COST CUTS
Many African countries and other poor Sources: UNCTAD, Bloomberg Pictures: Getty Images © GRAPHIC NEWS
nations suffering food shortages and acute COPENHAGEN: Sweden’s Electrolux
hunger have clamored for increased funds, yesterday announced plans to cut costs and
but it was not immediately clear how many warned its profit would drop as high inflation
countries would seek the additional and low consumer confidence softened
financing aid. demand for its home appliances, sending its
shares down as much as 7%. Demand for
The IMF proposal would offer some core appliances in Europe and the US has
limited help to Ukraine, but its officials say decreased at a significantly accelerated pace
they need a “full-fledged” financing in the third quarter compared with the
package as they scramble to keep the second, with high retailer inventories and
government running while fighting the first supply chain imbalances increasing costs
major war in Europe since World War Two. and inefficiencies, Electrolux said. Europe’s
biggest home appliances maker said cost
Food is the single largest category in reductions would primarily take place in
inflation baskets - the selection of goods Europe and North America, resulting in a
used to calculate the cost of living - in many material positive earnings contribution in
developing nations, accounting for around 2023. – Reuters
half in countries like India or Pakistan and
on average for some 40% in low-income
countries, IMF data shows. – Reuters

T U E S DAY
13 SEPTEMBER 2022

Britney talks about split Boseman’s co-
from sons stars and friends
say his presence
POP superstar Britney Spears is not done was missed
discussing her side of the story just yet. After her while filming
youngest son Jayden, 16, publicly confirmed the Wakanda
cracks in their relationship, the singer took to Forever. –
Instagram to discuss the estrangement. MARVEL
STUDIOS
“I used to have my kids, at one point, more than
[my ex],” said the songstress in a five-part audio Remembering a king
recording. “People don’t remember that part o Two years on, the pain of Chadwick Boseman’s While Gurira had intense physical
because they always focus on the negative, but passing still affects those working on the Black training to reprise her role as Okoye, the
when they were 6 to 9 years old, I had them 70% Panther sequel general of the all-female Dora Milaje
of the time.” warrior group, the actress admitted there
AS the sequel to 2018’s Black “There was a lot of stillness, reflection, were emotional challenges as well.
Spears shares Jayden and Sean, 17, with ex Panther inches closer, fans of the prayer and meditation to bolster me up as
Kevin Federline. But over the years, her sons Marvel Cinematic Universe emotionally, mentally and spiritually as “I remember sitting with [director Ryan
drifted away from her. continue to keep the late possible,” Nyong’o told the New York Times. Coogler], and he helped me process what
Chadwick Boseman in their minds. felt different this time: It was grief,” Gurira
Spears continued: “Honestly, I don’t understand “It was a unique experience to step back explained.
how it’s just so easy for them just to cut me off like The feelings of loss and grief were into this world without our leader. I found
that. I don’t understand it.” reignited after the first teaser trailer for Black myself having to radically accept that this “So grief intermingled with our process.
Panther: Wakanda Forever was released. was going to be different”. There were things I couldn’t prepare for, like
As to why her sons have neglected their mum, stepping into the throne room and
Jayden had claimed it was due to Spears’ habit of Recently, the Wakanda Forever cast Wright, who plays T’Challa’s sister, Shuri, remembering the last time I was there and
seeking attention online. finally opened up about their grieving agreed with Nyong’o. getting really hit by that.”
process during the sequel’s filming.
To which, the Hold Me Closer star responded: “I remember connecting a lot with Boseman, who starred as Black Panther
“With my kids now, making the claims that ‘she’s Danai Gurira, Lupita Nyong’o, Letitia Danai. When we got to Atlanta [where and T’Challa, passed away in August 2020
not good enough, she wants attention,’ yeah I do Wright and Florence Kasumba are among filming took place], we went for a walk in the from a long, private battle with colon cancer.
want to be heard, and I’m angry.” the stars who have returned in the sequel, park and just sat with each other and
and they say stepping back on set was as processed what it meant to begin again and After his passing, Marvel Studios
“All I know is my love for my children is more emotional as one might think. what it would take,” she explained. President Kevin Feige announced that
than anything, and I’m sorry if I hurt you guys in Boseman’s role would not be recast.
any way.”
However, the powerful women of
Spears then concluded her recording by Wakanda seem more than ready to step in
apologising and wishing her sons a happy early and carry on his legacy. – by Mark Mathen
birthday. – by John Tan Victor

Spears says that she still loves her two teen sons. – Gal Gadot, Rachel Zegler talk Snow White roles
REUTERS AT the D23 Expo last Friday, it was confimed The Wonder Woman star plays the Evil happens to a woman when she feels like
that Walt Disney’s 1937 Snow White will get Queen, and said that she wanted to make she’s not relevant anymore, what can come
Indy and Short Round a live-action remake. sure that she kept her character “delightful out of her.”
reunited and delicious”.
The upcoming musical fantasy film stars Gadot teased that she managed to spook
AFTER almost 38 years, actor Harrison Ford Gal Gadot and Rachel Zegler, and the Gadot added: “Between the two others on set when dressed in her “heavy as
reunited with the former child actor Ke Huy Quan, costars told People about how it was characters, it’s like a mother-daughter hell” costume. “Yeah. It’s very intimidating,”
who starred alongside him in Indiana Jones and the working together. relationship in a weird way. It’s what agrees West Side Story breakout Zegler, who
Temple of Doom. Quan played Short Round in the plays Snow White.
1984 film. Zegler (far
left) and “Just to be able to be that character and
Quan, 51, was pictured hugging Ford, 80, in a Gadot sang feel what it makes other people feel,” Gadot
heartwarming photo that was shared on Twitter. and danced explains. “Usually I make people talk to me,
in between open and comfortable. With this one, I truly
In the caption, he wrote: “I love you, Indy,“ filming for felt people were intimidated by me.”
referring to a line his character said in the film. Snow White.
– IMDB Gadot said that it was “enjoyable” to play
Ford will reprise his role as the adventurous a fairy tale villain and “go bigger, to be more
archaeology professor in the fifth Indiana Jones theatrical, to speak through your body, and
movie, which is set for next year. – by S. Tamarai to do all those things.”
Chelvi
“We danced a lot,” recalls Zegler. During
Ford and Quan’s touching reunion. – INSTAGRAM breaks, the co-stars even sang and danced to
Grease tunes together.

Gadot added: “And we laughed a lot ... It
was just a wonderful, commune-type of
atmosphere on set. When you have this
good chemistry between everybody, it really
shows onscreen.”

Snow White is set to arrive in theatres in
2024. – by Marietta Mu

FEATURE FOLLOW ON TWITTER SCAN
ME
16 theSun LYFE ON TUESDAY | SEPTEMBER 13, 2022 @thesundaily

Cooking
with passion
o Popular chef Marina Mustafa has penned 26 cookbooks,
reflecting her life and culture, all while battling cancer

█ BY S. TAMARAI CHELVI husband that I don’t want to think too much,” A selection of Marina’s cookbooks. – AMIRUL SYAFIQ/THESUN
she said, wiping away tears at the corner of her
SEASONED cookbook author Marina eyes, discreetly. Makanan Timur dan Barat to break free from She can be easily called a ‘celebrity chef’ but
Mustafa is an inspiring woman. Over the the tag. she prefers not to be, instead she concentrates
past 13 years, she has written a total of 26 “When I first found out that I had cancer, I on learning every aspect of cooking, from
cookbooks. She has recipes for prepared myself to go. If I go at any time now, I Actually, Marina is very familiar with preparing, developing recipes and styling,
everything from authentic Johor traditional have to accept it. So, I don’t want to think too Western cuisines. She picked up cooking skills, including for famous food companies.
dishes to delicious vintage or nostalgic cakes. much about my illness. I still put on my lipstick while studying at a high school in Australia, at
and I go out and do good things. I think I am the age of 15. There, she also learned cooking a “I want to integrate the culture that we have
According to Marina, every book reflects a okay with it. I try to do good things,” she said, wide variety of Western dishes. in Malaysia in my cookbooks. My cookbook
part of her life, memories and culture. But putting up a brave face. reflects my childhood, culture [and] dishes that
behind the scenes, she has been facing constant Thus, in the book, she explored making local which we forgot and don’t do anymore.”
challenges. “Sometimes it’s hard,“ she admitted openly, dishes with Western flavours and ingredients
but she never fails to keep a positive outlook on and vice versa, for example, using mee hoon in Though, the Johor-born chef has cooked
She has been living with terminal cancer and life. the traditionally Italian aglio oglio dish. an array of dishes, her favourite food ever since
has gone through various surgeries, treatments, A recipe for success she was a child is ‘jemput-jemput,’ a traditional
and chemotherapy over the years, but you With a smile, she added: “As long as the Marina’s books are popular as she uncovers sweet delicacy that has a sentimental value for
would never guess her struggles when you meet cancer does not disturb me, I can still walk original or authentic recipes, reinvents or as it’s her family favourite.
her in person. around; I am grateful and I am blessed.” modernises them with new ingredients, shares
insightful information and step-by-step guides Apart from that, ‘nasi dhall’ holds a special
She smiled brightly and spoke cheerfully Despite all the difficulties, Marina has never for a wide variety of incredible and tasty recipes. place in her heart because her father used to
during our interview with at her home in Kelana let cancer stop her from achieving what she cook it every Friday.
Jaya. loves most: cooking and sharing, and raising Furthermore, she does in-depth research,
her two beloved children. and provides tried and tested recipes that We began to wonder, who are her favourite
The self-taught chef, who has been suffering actually work. chefs?
from terminal thyroid cancer, revealed that she For Marina, it’s never been about the cancer,
wrote her first book, Memorable Recipes for it’s about celebrating life with great food. “My priority is my recipes must ‘work.’ If one She replied that she admires both
Malay Occasions, at the suggestion of her son, of the books does not work, people won’t buy international and local chefs for their respective
shortly after she was diagnosed in the 1990s and She doesn’t want people to focus on her the other books,” she said. “I must have that talent and expertise. For example, she loves Ina
had to close down her restaurant, Cafe Dania, health. Instead, she wants people to look at the reputation, first and foremost, that my recipes Garten for her motherly and homely nature,
after 16 years of operation. things that she does. The experiments, the tools, work!” Jamie Oliver for his sense of family and
and the taste of the food she lovingly and culture, Gordon Ramsay for his preciseness,
“I wrote this book for my children so that creatively makes. The Hari Raya Classics cookbook is also Chef Florence Tan for her Nyonya cooking, and
when I am gone they can use these recipes as a A culinary adventure special to her. In that book, Marina explored Chef Datuk Ismail Ahmad for his love for
guide in their life. I wanted to reflect on a stage During hard times, Marina turned to religion for many varieties of rendang recipes, conducted authentic Negeri Sembilan cuisines.
in my life in the book. I wanted a cookbook to solace, but even in religious books, she found research, and wrote a whole chapter on Looking to the future
show the cycle of life,” said Marina. inspiration for cooking. rendang recipes from every state in Malaysia. Marina said that these days, the trend is to
search for recipes online.
The book contains her personal stories, While reading the Al-Quran, Marina picked From her research, she found that Rendang
including childhood memories, as well as 11 ingredients mentioned in the holy book, Tok in Perak has a variety of spices, while “My recipes are shared on a local application
authentic Malay recipes for special occasions, and created modern recipes around them. This rendang in Sembilan has more cili padi, as the called CookX App, and I trust this app. My
from births to deaths. resulted in her second book, Hidangan Sunah. people there prefer spicier rendang. recipes are posted in a systematic way with
pictures, ingredients, tips, step-by-step videos,
“For example, when their child is born, what “I want to tell youngsters that ingredients One of her most significant books is and my own videos,” she said. It should be
do you cook for the ‘Potong Jambul’ ceremony, used thousands of years ago are still applicable Everything Sambal, for which she won the noted that Marina is also the brand ambassador
Aqiqah (sacrificing for the child’s birth), and relevant now.” French-based Gourmand International for CookXApp.
wedding, funeral, and ‘Tahlil’ prayers,” Marina Cookbooks Award in 2018.
said. “Appropriate dishes that suit each A few years later, she got a little busy. She did The most challenging cookbook The scalable social cooking app allows users
occasion in our cycle of life.” not have much time for elaborate cooking due However, writing cookbooks was not all smooth to discover new recipes and purchase pre-
to her work commitments, and that prompted sailing. For instance, when she wrote the 12 packaged ingredient kits.
She did not expect much from the first book, her to write the third best-selling book, 5 Rencah book series, she felt stressed and was even
but it got people talking, and eventually, the 15 Minit, filled with easy recipes to cater to hospitalised, but she recovered and continued The app sells eco-packs comprising a precise
book was a success. those living a hectic lifestyle. to finish the book. number of ingredients for easy cooking. Among
those currently available is Marina’s cinnamon
Recently, she discovered that her cancer had She soon realised that she had been branded Another challenge she faced was that she roll eco-pack recipe.
spread to other parts of her body. the ‘local food specialist’ due to her talent in had to prepare ingredients for at least 25 dishes
mastering local cuisine. for each of the books in the series. “It’s very convenient and the app is
“I feel disappointed that I am not responding constantly evolving. There is so much space to
to the medication. I realise this and I told my Hence, Marina wrote another book titled 100 “I felt a bit tired doing the cookbook. Just grow,” she added.
imagine having to buy ingredients for 25
Marina holding her first book with the CookXApp on screen. – AMIRUL SYAFIQ/THESUN recipes. My fridge was full and my kitchen was The app provides a platform for new chefs to
filled with ingredients everywhere. share and monetise their unique recipes and to
earn at least 85% revenue from each sale made.
“I had to cook and photograph every one of
the dishes for a ‘step-by-step’ guide, and all this The app also has a pre-order feature, which
was done while I was standing on my feet all the allows creator-partners to pre-set the
time.” availability of their selling date or periods and
Connecting with others take orders up to 13 days in advance, catering to
In her books, Marina pours her heart into her any type of business model.
recipes and many people feel connected to
them. Most of Marina’s recipes, whether savoury or
sweet are gradually being uploaded in the app.
Currently, Marina is busy re-creating and
finding new recipes for her latest culinary
obsession – biryani gam.

EDUCATION

17theSun LYFE ON TUESDAY | SEPTEMBER 13, 2022

UTAR nurtures petrochemical engineers
UTAR Bachelor of
Engineering (Honours) Mathialagan said: “Petrochemical in Process Hazards Analysis, Deep The university also engages in Visit Day on Sept 17-18, 2022 from
Petrochemical Engineering is the application of Dive Analysis and asset budgeting. the provision and conduct of 9am to 5pm. Students and parents
Engineering programme is science, in particular chemistry, Yeong mentioned that the UTAR research, consultation, are invited to visit the UTAR
physics and mathematics, to the programme has helped build a management and leadership campus, and make enquires about
an interdisciplinary programme process of converting raw materials strong foundation for him which has training, and other related study options with programme
covering the fundamentals of of petroleum or other hydrocarbon greatly assisted him in his current educational services at its Sungai advisors and apply for admission.
chemical engineering and origins into more useful or valuable job. “In this current job, I was able to Long and Kampar campuses in You can also learn more about the
specialisation in petrochemical products. They are engaged in the apply what I was taught in my class. Malaysia. For more information, various scholarships and financial
downstream processes. The development and production of a Some of the things that remained please visit www.utar.edu.my or aid that are available.
programme, which is parked under diverse range of products, relevant from my studies are organic call 05-468 8888 (Kampar
the Faculty of Engineering and Green commodities and speciality chemistry, polymer technology, Campus), 03-9086 0288 (Sungai Visit the website at
Technology (FEGT), aims to produce chemicals. These products include occupational safety and health in a Long Campus). study.utar.edu.my/campus-visit-
graduates who will utilise state-of- high-performance materials needed petrochemical plant, plat design, UTAR will be holding a Campus day.php for more information on
the-art knowledge and techniques in for aerospace, automotive, petrochemical process and law for this event.

synthesis, design, maintenance, biomedical, electronic, military, and engineers. These lessons I learnt in
service, sales and marketing of environmental and health my classes previously were very
petrochemical engineering-related applications.” applicable,” said Yeong.
systems and products. He continued: “Petrochemical Nagarathanam Ramadas
The programme provides engineers are very much at the graduated from UTAR in the year
varieties of research fields, guided by forefront to improve the quality of 2018. Upon graduating, she joined
experts in the research area of oil and life. There are extensive Top Glove as a researcher in
gas-related processes and products, opportunities in the designing of production. Soon after, she furthered
polymeric processing and products, process equipment/plants, her studies in Master of Engineering
nanocomposites and advanced identifying chemical and physical Science under UTAR FEGT in the
material development and properties of substances, researching field of high-performance coating
manufacturing, microbial fuel cell new products and ensuring materials as the industrial-university
and bioreactor design, metabolic equipment/plant operates collaboration research work.
modelling, system biology, fertiliser optimally. They work in a wide range Currently, Nagarathanam is working
wdeavsetelowpamteerntt,reCaOtm2 egnats, adsorption, of fields such as the oil and gas in UP Packing Sdn Bhd as an
rare earth industry, petrochemicals engineer in Research and
studies, air quality management, pharmaceutical, pulp and paper, Development.
environmental impacts assessment, food processing, healthcare, special For more information related to
renewable energy development, etc. chemicals, electronic and advanced UTAR Bachelor of Engineering
It also provides strong training in materials, biotechnology, (Honours) Petrochemical
research and development for the environmental health and safety Engineering programme, please visit
advancement of knowledge and industries.” fegt.utar.edu.my/Overview_Petroch
cutting-edge technology. This course The curriculum of the UTAR emical_Engineering.php or login to
emphasises instilling technical, Bachelor of Engineering (Honours) our Facebook group at
managerial and ethical leadership Petrochemical Engineering www.facebook.com/UtarPetrochem
roles with commanding oral and programme was structured such that icalEngineering/.
written skills into the students. In students are provided with UTAR also offers undergraduate
addition, students are also exposed fundamental knowledge and and postgraduate programmes in
to basic elements of Industrial exposed to skills and handlings of areas including Accountancy,
Revolution 4.0, Internet-of-Things petrochemical engineering-related Actuarial Science, Applied
(IoT), emerging advanced equipment in fulfilling current Mathematics, Arts, Chinese Studies,
technologies and smart industrial needs. Business and Economics,
manufacturing and automation UTAR Petrochemical Engineering Biotechnology, Engineering and
which are expected to be dominant alumnus Yeong Wei Ming, who is Build Environment, Information and
in the petrochemical industry in the currently working at Petronas Communication Technology, Life
near future. Carigali Sdn Bhd under the and Physical Sciences, Medicine and
When asked to explain the Upstream Process Safety Health Sciences, Media and
uniqueness of the programme, the Department, shared his experience Journalism, Education and General
Head of the Department of working as a protégé GEES Studies, and Agriculture and Food
Petrochemical Engineering Dr M. Apprentice in which he was involved Science.

EDUCATION TAR UC’s many financial aid initiatives have helped countless Malaysians realise their higher education aspirations and unlock opportunities for a brighter

18 theSun LYFE ON TUESDAY | SEPTEMBER 13, 2022 Helpingandbetterfuture. needy students part
of TAR UC’s DNA
HAVING to choose whether to pursue a “I am both honoured and grateful to receive to learn and grow academically and in life. Due to the financial plight suffered by
higher education qualification or not is this financial aid because it has not only allowed Here I can learn valuable skills, experience many Malaysian families due to the Covid-19
a dilemma that our future generation me to focus on my studies to the fullest, but it also and knowledge even beyond the classroom, pandemic, TAR UC’s Prihatin Flexi Payment
should not be making. Unfortunately, has removed my family’s financial worries on which I can put to good use even in my future Plan can help alleviate some financial
this is a situation that is faced by many young funding my academic goals. It truly means so career.” burdens by providing greater flexibility in first-
Malaysians whose families are struggling much to me that I can follow my passion today.” semester fee payments. Introduced in 2021
financially to support their children’s dreams to Apart from the TARC Student Loan Fund, and now extended into 2022, students can
pursue higher education and realise their dream Sonia is now enjoying her tertiary education TAR UC has many other financial aid options begin their studies at TAR UC with an initial
careers and have a brighter future. journey, adding: “TAR UC is full of opportunities available to cater to underprivileged but payment of RM263 with the balance of fees to
deserving and qualified students. be paid in either 1 or 2 instalments, depending
This situation is further exacerbated by the on the intake. This plan is available for
Covid-19 pandemic, where countless students’ This includes scholarships or bursaries Malaysian students with a full offer of
parents are struggling to stay afloat financially, such as the Star Education Fund, Sin Chew admission for Foundation, Diploma, and
forcing students to postpone their higher Daily Education Fund, Nanyang Tertiary Bachelor Degree programmes for all 2022
education plans indefinitely. Education Fund, TAR UC Sports Scholarship, intakes.
TAR UC – TAA Scholarship, TAR UC – TAA
For Tunku Abdul Rahman University College Scholarship (Top Glove), TAR UC Eco Shop For parents with two or more children
(TAR UC), this situation is nothing new, apart Scholarship, TAR UC MSEF Scholarship, TAR studying at TAR UC, there is a sibling discount
from the challenges arising from the pandemic. UC – Jinbodhi Bursary, and Bursary for offered as extra financial support. Under this
After all, this institution’s very founding was to State/National Players. incentive, students registering for the FIRST
help needy and deserving Malaysians attain a TIME and with sibling(s) who are full-fee-
higher education qualification regardless of their In addition, many benevolent paying student(s) in the same semester can be
financial situation, background, or creed, a organisations and philanthropic corporations eligible for an RM1,000 discount off their first
mission that has kept TAR UC going since 1969. have external scholarships and grants to help semester tuition fee.
students continue their studies like the Ann
One of the many approaches TAR UC employs Joo Undergraduate Scholarship, CIMB To find out more about TAR UC’s financial
to help financially needy students is the TAR UC ASEAN Scholarship, Hong Leong Foundation aid options and programmes offered for the
Student Loan Fund. With 50 interest-free Scholarship, Kuok Foundation Study Grants, ongoing October/November 2022 intake,
revolving student loan funds available, qualified Maxis Scholarship, OSK Foundation please visit the website at www.tarc.edu.my.
students can apply and have the entire of their Scholarship, Shimano Scholarship, Senheng Prospective students are also encouraged to
tuition fees covered by the loan. Since its Scholarship, Lion-Parkson Foundation apply online at www.tarc.edu.my.
inception in 1979, a total of 14,464 loan awards Scholarship, and many more.
amounting close to RM56 million have been
disbursed via the TAR UC Student Loan Fund.

The TAR UC Student Loan Fund has helped
countless Malaysians over the decades, including
Sonia Alexandra, a recipient of the TARC-Toh
Kim Eng Student Loan which has allowed her to
undertake the Bachelor of Interior Architecture
(Hons) programme.

Hailing from Kuala Lumpur, Sonia was on the
verge of having to postpone her tertiary
education after discovering that Perbadanan
Tabung Pendidikan Tinggi Nasional (PTPTN)
was unable to fully cover her tuition fees.

Sonia explained: “I was a little sad because I
managed to pass the portfolio test prior to
receiving the offer to study at TAR UC. However, I
received a call from TAR UC’s Department of
Student Affairs (DSA) asking about my family
background and financial situation. As a result, I
was offered a lifeline via the TARC-Toh Kim Eng
Student Loan.

Thanks to the TARC-Toh Kim Eng Student Loan under the TAR UC Student Loan Fund, Sonia (above)
is now able to follow her passion in interior architecture.

EDUCATION

19theSun LYFE ON TUESDAY | SEPTEMBER 13, 2022

Kickstart your career in Data Science
DATA SCIENCE brings great benefits
to all types of businesses. It designs on a modular basis at the UniKL-MIIT campus THE ELITE UNIVERSITY IN
models that further define trends here in the heart of Kuala Lumpur. Students THE WORLD SUBJECT RANKINGS
and can be used as the foundation will have the privilege of learning from experts
for transformative software. One of the in the field of data science from both PURSUE YOUR
examples of data science is predictive universities led by Assoc. Prof. Dr Jacque
analytics in e-commerce which helps to Morcos from LRUniv and Prof Shahrulniza P O S TG R A D UAT E
evaluate each new customer and every data Musa, the distinguished professor from STUDIES
collected will be used to make precise UniKL-MIIT.
marketing campaigns. WITH
UniKL-MIIT and LRUniv have also
These models can augment customer established a strategic partnership with the UniKL
experience, and process efficiency, assist user establishment of a joint ICT lab known as
engagement, and identify possible conditions Universiti Kuala Lumpur – La Rochelle At Universiti Kuala Lumpur (UniKL), we fulfil your Affordable Fees Innovative Learning & Teaching
where data can be used to crack complicated University – Joint ICT Laboratory (KLR-JIL) postgraduate experience by offering enhanced and Environment
problems. Since the Covid-19 outbreak, the which focuses on Data Science models and quality programmes with the following privileges: Industry Relevant
health care industry has been benefiting from knowledge, Image and content and System Curriculum Student Talent Enhancement
data science by using its tools to monitor and dynamics and adaptivity (IoT, Security,
mitigate the impact of the coronavirus. process mining). The lab aims to support and
Researchers and data science professionals improve the data sciences programme and
worldwide are using data to build accurate research carried out by both students and
models of the virus spread, conduct antibody researchers.
discovery and track the availability of hospital
resources. Don’t miss out on this opportunity and join
UniKL now. Student intakes are carried out
The Malaysia Digital Economy twice per year, in January and September. For
Corporation (MDEC) affirms that big data further details, visit www.unikl.edu.my or
analytics (BDA) is central to Malaysia’s digital contact the Marketing and Admission (Mesra)
economy. It will boost other digital office and speak to Ms Raziana at 012-2660774
technologies, such as artificial intelligence / Ts. Nurdatillah at 017-5636371.
(AI), the Internet of things (IoT) and advanced
automation. As the BDA market in Malaysia is
expected to grow in 2025, ‘data scientist’ will
be a profession whose scope and area of
application will see an increase in the coming
years.

With that said, why not take up the
challenge to explore this area and fill up the
demands by registering for a Master in Data
Science (MDS) at Universiti Kuala Lumpur -
Malaysian Institute of Information
Technology (UniKL-MIIT). MDS is a dual
degree with an international partner, La
Rochelle University (LRUniv), from France.

This programme is accredited by the
Malaysian Qualification Agency (MQA) and
the French Ministry of Higher Education,
Research and Innovation (MESRI) which
means the degrees are recognised
internationally. Therefore, graduates will have
more opportunities to continue their
education or even find employment in a
European country.

This can have a huge number of benefits,
including improving skills, working with
people from different cultures, expanding
professional networks, and attempting to
increase one’s employability. A six-month
industry attachment or industry project is a
part of the programme in order to ensure the
student is equipped with industry and
professional skills.

To suit the current demand, this three-
semester programme has been designed with
multiple sub-areas including Big Data and
Data Mining, Math and Statistics, Information
Systems, Software Engineering, and
Entrepreneurship. All courses are conducted

BY COURSEWORK/MIXED MODE MASTER & DOCTOR OF PHILOSOPHY (BY RESEARCH)

• BUSINESS ADMINISTRATION Areas of specialisation:
• DATA SCIENCE
• MARITIME OPERATION & MANAGEMENT • CHEMICAL ENGINEERING
• MANUFACTURING MANAGEMENT • INDUSTRIAL AUTOMATION
• PUBLIC HEALTH • MECHANICAL
• STRUCTURAL INTEGRITY • MANUFACTURING
• WATER & HYDROPOWER ENGINEERING • INFORMATION TECHNOLOGY
• COMPUTER SCIENCE • CREATIVE DIGITAL MEDIA
• QUALITY ENGINEERING & MANAGEMENT • MANAGEMENT
• SUPPLY CHAIN MANAGEMENT • ISLAMIC FINANCE
• MECHANICAL • ACCOUNTING
• BUSINESS TECHNOLOGY • ELECTRICAL AND ELECTRONICS ENGINEERING
• BIOMEDICAL ENGINEERING • MEDICAL SCIENCE
• PHARMACY
FINANCIAL ASSISTANCE WILL BE • AEROSPACE
PROVIDED FOR THOSE ELIGIBLE • APPLIED BIOSCIENCE
• MARITIME

APPLY NOW : www.unikl.edu.my

[email protected] Hotline : 1800 888 177

UniKL Page

Universiti Kuala Lumpur,
1016 Jalan Sultan Ismail, 50250 Kuala Lumpur

Universiti Kuala Lumpur DU011(W)

EDUCATION

20 theSun LYFE ON TUESDAY | SEPTEMBER 13, 2022

Trip to Uzbekistan for new
cultures and perspectives
THERE is no education without
diversity; and all over the world, (left) MSU
music and dance transcend Performing Arts
cultures. Management and and Culture Club
Science University (MSU) takes members (PACC) with MSU
of the MSU Performing Arts and Culture President, Prof Tan
Club (PACC) to Uzbekistan on a global Sri Dr Mohd Shukri
learning experience in multicultural (7th from left,
appreciation. standing) after
cultural performing
Accompanying them was MSU in one of the local
President Professor Tan Sri Dato’ Wira Dr media studios in
Mohd Shukri Ab Yajid, who paid a Uzbekistan.
courtesy call on the Ambassador of
Malaysia to Uzbekistan in Tashkent, His Programme (GMP), Global Leadership work alongside global professionals via Top 30 among Southeast Asia’s best
Excellency Hendy Assan. Programme (GLP), and Global Internship placements with industry partners universities; Top 301+ for Graduate
Programme (GIP) in collaboration with onboard. Employability Ranking as well as Top 601+
The visit to Uzbekistan follows a prior more than 150 partner universities across for Times Higher Education University
one to Management and Science 40 countries worldwide. With an increasingly globalized world, Impact.
University (MSU) last July by Uzbek Comprehensive global mobility global mobility exposure is more MSU has also been awarded QS-rated
cultural performers; who spent a week in initiatives at Management & Science important than ever. It is no doubt that 5-Stars on the metrics of Overall as well as
Malaysia learning local customs and the University (MSU) enable semesters MSU graduates remain the popular Teaching, Graduate Employability,
national language Bahasa Malaysia. abroad and leadership development, choice among employers, with the help Academic Development,
equipping you with the international edge of MSU’s global mobility programmes. Internationalization, Hospitality and
Other than the Embassy of Malaysia in most employers seek. The mobility Leisure Management, Online Learning,
Uzbekistan, the MSU group also visited programmes offered are Global Mobility Management and Science University Social Responsibility and Inclusiveness.
the Ministry of Tourism and Cultural Programme (GMP); where students can (MSU) is a Quacquarelli Symonds (QS) MSU’s mission for excellence is
Heritage, the Ministry of Higher and live and study abroad for one semester or and multi-global-ranked institution benchmarked by internationalization,
Secondary Specialised Education as well two at any one of over 150 partner focused on building holistic human industry employability, entrepreneurship,
as iconic landmarks in Tashkent, Bukhara, universities, Global Leadership capital. Envisioning a better, more community sustainability, research,
and Samarkand. Programme (GLP); discover new places, sustainable future for all, we champion lifelong learning, and flexible education
make international friends, or engage equality by providing a level playing field with 98.7% of graduate’s employability
PACC appeared in various local media with international communities and across extensive efforts to transform. rate, ranked by Malaysia’s Ministry of
four times for their cultural performances Global Internship Programme (GIP); Higher Education.
throughout the visit. MSU currently ranks in the Top 100
among the world’s top young universities;
Currently, MSU has collaborations Top 150 among Asia’s best universities;
with Uzbekistan across education as well
as industry. Among areas of collaboration
including in Pharmaceutical and Health
Care, Halal Certification, Personnel
Training, and Poultry as well as
Agriculture. MSU also collaborates with
Navoi State Pedagogical Institute,
Bukhara State University, Bukhara State
Medical Institute, and Samarkand State
Institute of Foreign Languages.

MSU offers the MSU Global Mobility

21theSUN ON TUESDAY | SEPTEMBER 13, 2022
* SPORTS

Raging Bull ITALIAN GRAND PRIX

332222 NNoottiicceess ON a week where the royal family were the Verstappen on brink of RESULTS
focal point of the world’s spotlight, a defending world title after 1. Max Verstappen (Red Bull)
IINN TTHHEE MMAATTTTEERR OOFF disjointed starting grid under the Italian Italian GP win 2. Charles Leclerc (Ferrari)
TTHHEE CCOOMMPPAANNIIEESS AACCTT,,22001166 sun had the making for an appropriate 3. George Russell (Mercedes)
monarchic finale this afternoon given the front not remove the stricken McLaren from the track 4. Carlos Sainz Jr (Ferrari)
AANNDD row. quickly enough and, to loud jeers in the 5. Lewis Hamilton (Mercedes
IINN TTHHEE MMAATTTTEERR OOFF grandstands, the race finished behind the safety 6. Sergio Perez (Red Bull)
PPMMPP DDEEVVEELLOOPPMMEENNTT SSDDNN..BBHHDD.. Yet it wasn’t a much-promised second Monza car. 7.Lando Norris (McLaren)
((119999550011001100556611))((333399776622--MM)) triumph for King Charles; nor a maiden victory for 8. Pierre Gasly (AlphaTauri)
NNOOTTIICCEE OOFF PPRROOPPOOSSEEDD RREEDDUUCCTTIIOONN OOFF SSHHAARREE CCAAPPIITTAALL Prince George. It was Max. At the moment, it’s The race director followed the safety car 9. Nyck de Vries (Williams)
NNOOTTIICCEE iiss hheerreebbyy ggiivveenn ppuurrssuuaanntt ttoo SSeeccttiioonn 111177((1100)) ooff tthhee always Max. protocols correctly unlike, whisper it quietly, Abu 10. Zhou Guanyu (Alfa Romeo)
CCoommppaanniieess AAcctt,, 22001166,, tthhaatt tthhee SSppeecciiaall RReessoolluuttiioonn sseett oouutt Dhabi last year. 11. Esteban Ocon (Alpine)
bbeellooww wwaass dduullyy ppaasssseedd bbyy tthhee MMeemmbbeerrss ooff tthhee CCoommppaannyy oonn 1100 Starting down the pecking order only serves to 12. Mick Schumacher (Haas)
SSeepptteemmbbeerr 22002222.. bring the best out of F1’s champion-in-waiting, Leclerc came home a frustrated man in second, 13. Valtteri Bottas (Alfa Romeo)
““TTHHAATTaapppprroovvaallbbeeaannddiisshheerreebbyyggiivveennffoorrtthheeCCoommppaannyyttoorreedduuccee whose domination this season shows no signs of while George Russell claimed his seventh podium 14.YukiTsunoda (AlphaTauri)
tthhee sshhaarree ccaappiittaall ooff tthhee CCoommppaannyy ffrroomm RRMM550000,,000000..0000 ccoommpprriissiinngg stopping. of the season in third. 15.Nicholas Latifi (Williams)
ooff 550000,,000000 oorrddiinnaarryy sshhaarreess ttoo RRMM225500,,000000..0000 ccoommpprriissiinngg ooff 16. Kevin Magnussen (Haas)
225500,,000000 oorrddiinnaarryy sshhaarreess bbyy ccaanncceellliinngg 225500,,000000 oorrddiinnaarryy sshhaarreess iinn It was P7 on the grid on Sunday but – much like Nonetheless, the gap is now 116 points at the Fastest lap: Sergio Perez (Red
tthhee sshhaarree ccaappiittaall ooff tthhee CCoommppaannyy tthhaatt iiss iinn eexxcceessss ooff tthhee nneeeeddss ooff his ascent in Spa two weeks ago – he was at the top of the world championship and Verstappen has Bull)
tthhee CCoommppaannyy aanndd ssuucchh rreedduuccttiioonn bbee eeffffeecctteedd bbyy rreettuurrnniinngg ttoo tthhee broken his Monza podium curse, claiming an Retirements: Sebastian Vettel
sshhaarreehhoollddeerrssoofftthheeCCoommppaannyytthheeaammoouunnttooffRRMM11..0000ppeerrccaanncceellleedd front of the pack by lap 13 and he and his impressive triple-header European sweep in doing (Aston Martin, Lance Stroll (Aston
sshhaarree ppaayyaabbllee iinn ccaasshh ((““PPrrooppoosseedd CCaappiittaall RReedduuccttiioonn””)).. ”” peerless Red Bull pit wall remained in so. Martin), Fernando Alonso (Alpine)
PPuurrssuuaanntt ttoo SSeeccttiioonn 111188((22)) ooff tthhee CCoommppaanniieess AAcctt,, 22001166,, aannyy control to claim a fifth straight victory this WORLD CHAMPIONSHIP
ccrreeddiittoorr ooff tthhee CCoommppaannyy mmaayy aappppllyy ttoo tthhee CCoouurrtt ffoorr tthhee SSppeecciiaall season. A second world title is wrapped up with six 1. Max Verstappen (NED) 335pts,
RReessoolluuttiioonn ttoo bbee ccaanncceellleedd wwiitthhiinn ssiixx wweeeekkss ffrroomm tthhee ddaattee ooff tthhee For the majority, Red Bull’s simple races to go – and could be won as soon as the next 2. Charles Leclerc (MON) 219, 3.
SSppeecciiaall RReessoolluuttiioonn.. one-stop strategy looked to be paying Sergio Perez (MEX) 210, 4.
AA ccooppyy ooff tthhee SSoollvveennccyy SSttaatteemmeenntt mmaaddee bbyy aalll tthhee DDiirreeccttoorrss ooff tthhee dividends ahead of Ferrari race in Singapore in three weeks’ time. George Russell (GBR) 203, 5.
CCoommppaannyy iinn rreellaattiioonn ttoo tthhee rreedduuccttiioonn ooff sshhaarree ccaappiittaall iiss aavvaaiillaabbllee overcomplicating their race- Speaking after the chequered flag, Carlos Sainz Jr (ESP) 187, 6. Lewis
aatt tthhee CCoommppaannyy’’ss RReeggiisstteerreedd OOffffiiccee aatt RRoooomm 440011--AA,, BBaanngguunnaann day calls once again, as they Hamilton (GBR) 168, 7. Lando
LLookkee YYeeww,, NNoo.. 44,, JJaallaann MMaahhkkaammaahh PPeerrsseekkuuttuuaann,, 5500005500 KKuuaallaa pitted Leclerc twice with the Verstappen said: “We had a great race. On Norris (GBR) 88, 8. Esteban Ocon
LLuummppuurr ffoorr iinnssppeeccttiioonn ffrreeee ooff cchhaarrggee dduurriinngg bbuussiinneessss hhoouurrss,, bbyy Monegasque subsequently every compound we were good. (FRA) 66, 9. Fernando Alonso
aannyy ccrreeddiittoorr ooff tthhee CCoommppaannyy ffoorr aa ppeerriioodd ooff ssiixx wweeeekkss ffrroomm tthhee 20 seconds down the road. (ESP) 59, 10. Valtteri Bottas (FIN)
ddaattee ooff tthhee SSppeecciiaall RReessoolluuttiioonn.. A late safety car with five “Unfortunately we didn’t get a restart 46, 11. Pierre Gasly (FRA) 22, 12.
SSHHAAIIFFUULL HHIIZZAAMM BBIINN MMOOHHDD SSHHAARRIIFFFF laps to go, brought out after at the end but overall we had a really Kevin Magnussen (DEN) 22, 13.
DDiirreeccttoorr good day. It was really enjoyable to Sebastian Vettel (GER) 20, 14.
DDaatteedd :: 1133 SSeepptteemmbbeerr 22002222 Daniel Ricciardo stopped with an drive today. Daniel Ricciardo (AUS) 19, 15.
engine failure on the side of the Mick Schumacher (GER) 12, 16.
332222 NNoottiicceess track, gave Leclerc and the “A great day for us. It took a bit of Yuki Tsunoda (JPN) 11, 17. Zhou
time to be on a great podium like this.” Guanyu (CHN) 6, 18. Lance Stroll
PPEERRMMDDOAOAHLHLAOAOMNMNAAMNMNAAUUHHNNKKTTAUAPUPMKMEKEARPARPHIEHISESRTYRTYLITLINTANIAIHGKHGKAGSAGSIRAIRAMANMANNAANAAALJALJANUANUYYAAANANLLOOADAD::NINIPPPPAAUU--L3L3A8A8U-U-33P5P5I9IN9N--A0A0N7N7G/G/22002222 raucous tifosi crowd hope as the Leclerc said he “wished” the race could (CAN) 5, 19. Alexander Albon
entire field pitted. But it was too have restarted to have a go at Verstappen in (THA) 4, 20. Nyck de Vries (NED)
DDaallaammppeerrkkaarraammeennggeennaaiiSSeekkssyyeenn225566ddaann225577KKaannuunnTTaannaahhNNeeggaarraa,,11996655 late. the closing stages. 2, 21. Nicholas Latifi (CAN), 22.
LDD1L1DDo2aao2aa/tln/tnla1a17m17m17/7/24240,p0,p2Se2Se0re0rek)kk),ka,akskrsreyaeyaeaeantnmtmaa4s4ese,n,snsMgMegeemuemunknukauaiaiimaimbbGaBGaBahaahadadannagagdidiiaiaaaaannrnnrtJtJaPaePneenlealuraurhsthsteoeoyrynranaaagnghnh,ga,gaDnDdndaaiipepeNeNreroagoag:ha:hannT0gT0gi7im7dmd99iui9ub9brSraSaCLwCLwa2a2a0ua0uhh2t2t,0P,0PP0PN0Nu3u33l13l1aa3737uu505055P55P/i/inMnM((abab1en1en/rg/r1gt1ta5a5rr/i/ik2k2h4h466,:,: Nico Hulkenberg (GER) 0.
DDaann The “The end was frustrating, I wish CONSTRUCTORS
DDaallaammppeerrkkaarraammeennggeennaaiiAAttuurraann8833KKaaeeddaahh--KKaaeeddaahhMMaahhkkaammaahh,,22001122 marshals we could have had a bit of a 1. Red Bull 545pts, 2. Ferrari
race. Unfortunately we 406, 3. Mercedes 371, 4. Alpine
AANNTTAARRAA could were second because of 125, 5. McLaren 107, 6. Alfa
Red Bull’s Max Verstappen celebrates what happened before. Romeo 52, 7. Haas 34, 8.
KPPKuhuhbobollCiCicchhIoIossnlnlaaLmLmiinniicc((NBNBoaoanKnKkakadBdBePePrerehhnnaaggddeen(n(NaNaolola.a.nSnS:y:y8a8a0r0ri0ik0k1a1a2Dt2Dt6A:6A:01N01N74745353626228289-9-)V)V)) .....PPLLAAIINNTTIIFF with the trophy after winning the “It’s a shame, but I AlphaTauri 33, 9. Aston Martin
....DDEEFFEENNDDAANN Italian Grand Prix. – REUTERSPIX gave it all today. I wish 25, 10. Williams 6.
I could have won in
dMdMaaeennnnPuPuererururitintnPtPtaeaehrhribinbnetetararhthtaarMrMiikkahahhh1k1ka0a0mmJJaaaahnhnuTuTaiainrnrgigig2g2i0i0M2M22a2aldladaayaynana2d2d4i4i POPOUgUgLoLoAsAsUU220P0P22IIN2N2,A,AaNaNddGaGallamamhheedndnegegnenegngnaaaanini PiPinneeiirdridininitistasayyhhttiihJhJauaurarakkllaaaannnn front of the amazing
bbaahhaawwSSaEaECTCTiAimAmRRbbAAaKaKlOElaOEPaPLnMLanMaEEdPPdPKPKeaLeaTLnTEnHREdHRKdKaOaaOaSrSfNrfNtitiaMIaMISKrSKr/Ae/AePDPlHDlaeHlaeKlnsKnsLLoaAAoaAAAAl,MloK,MMoK4Mn4AnAAAAgOAgNHONLNHkLKNkKEMKEtaMKWtaLoWLnUoEnOUbEOEabANEaANNenBNenNBJrNGJrGPUTePUT2ee2AA-AeAA-0AnL0NWnLLNW2LdE2dE,A2,SaLA2SaLPPf,OMEf,OMtAEPtAaCNPaCNHarHAGarAGAdPARd,PR,NauNaPAuPAsGsJUGaJUaaSDtaSDtmAOAmAOATpRTpR1e1UOeUO1r1rLPa:LPa:0sE0MsEM0iR0iReAeAApA-pK-LSaKLSaMegIMegIlieloUie,oU,-nR-nLRgLgEEdLdLiOiOKKNNuuGaGa,n,nttaann Tifosi but I just
couldn’t today.” – The
rpNrpNaaaOaOsssTsmTtmAtAiii:di:ddedBeBinianaPgPkgkeaeaaajnjalnalbtbptpeaeaeeptpmtmaTaTatbatbnehnehalaaliaihrhrtataaddaddnanaaaanlanlahahmhmhtteeeedmrdmrisisneneeearbarbsiusikuikithsthsaasaastetesksbkbeaeeamenmlnluuuumamaaaggtajtajuauarrananlgmlgmaaggneneuummlnlneegblgbloauoaunnannag,tg,tababcnceneaabbdrdraiaiiaijnajnanaanallananHnHnsaskakekeakramrntmnta.ai.ilmlimikkeensnsegegceceananraraaall Independent/Express
Newspapers

SSiillaallaayyaarriihhtttppss::///eelleelloonngg..kkeehhaakkiimmaann..ggoovv..mmyy//bbiiddddeerrwweebb EEVCVCEToEToRHmRHmIEIECpCpIICHaIINNCHaNNOnOnETTEy(MTTy(MN1HHN1HHNP1TNEEP1TEEAoE8AoE8AMM:R4NAMM:R4NN2P7NI2AAP7IAAE0D5ER0TTD5RTTS1S0TTI10TTIS6-SEEA6-EEAVE0RRVE0CRRC)1)S1TSOOT0OO,D0,DFF12FF12NN3030..8181BB1616HH99DD.. Jeers aimed more at
((IINNMMEEMLMLIIBQBQEUEURIRIDDSSAA’’TTVVIIOOOOLNLNU)U)NNTTAARRYY FIA, says Ferrari boss
BBUUTTIIRR--BBUUTTIIRRHHAAKKMMIILLIIKK:: 332222 NNoottiicceess
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SSeekkaattaannKKeeppeennttiinnggaann HHaakkmmiilliikkPPaajjaakkaann dduullyyppaasssseedd::-- PPEERRMMOOHHOONNAANNUUNNTTUUKKPPEERRLLAAKKSSAANNAAAANNNNOO::PPAA--3388--335511--0077//22002222
224466//1155//MM11 11..““TTHHAATT tthhee CCoommppaannyy wwiilll bbee
BKKKBKeaaaaebwvbvweaeaaaanansstataaannnn/R/RLiLizazaaiainbnb--LLaaiinn 77777272.5.500..000000mmkkeaeatktekeirirppppeeeerrrsrssseeeeggggiiii DDaallaammppeerrkkaarraammeennggeennaaiiSSeekkssyyeenn225566ddaann225577KKaannuunnTTaannaahhNNeeggaarraa,,11996655 JEERS and boos after Sunday’s because it sort of goes against
KKhhooCChhoonnLLiinn lliiqquuiiddaatteedd bbyy wwaayy ooff mmeemmbbeerrss’’ DDaann Italian Grand Prix were aimed everything we talked about
PPeettaakkiinniihheennddaakkllaahhddiigguunnaakkaannuunnttuukkttuujjuuaannrruummaahh vvoolluunnttaarryy wwiinnddiinngg uupp ppuurrssuuaanntt ttoo DDaallaamm ppeerrkkaarraa mmeennggeennaaii GGaaddaaiiaann PPeerrsseerraahhaann NNoo:: 00770044SSCC22001133000000226688 ((bbeerrttaarriikkhh :: more at Formula One’s over the last years,” Horner told
ppaannggssaassaahhaajjaa.. SSeeccttiioonn443399((11))((bb))oofftthheeCCoommppaanniieess 2277//1122//22001122)),,kkeeaattaasssseemmuuaabbaahhaaggiiaannttaannaahhyyaannggddiippeeggaannggddiibbaawwaahhGGMM22446611,,99228844,, governing body for how the reporters.
:: dTdTaiaicncnaaaaghghaayryr,a,adndnigipgpaaddjjaiaibbkkee,,rpripimamajijailalikikkkaaininnnikiktetieidcdcaiailklkaabtbtaoaoululeedhdhiildluduipipppuiuinsnsdkdkaaaahnhnmtmtaainilnlipikpka,a, AAcctt,,22001166.”.” MMuukkiimm1133,,DDaaeerraahhTTiimmuurrLLaauutt,,PPuullaauuPPiinnaanngg race ended than Red Bull
22..““TTHHAATT MMRR KKAAMM CCHHAAII HHOONNGG ooff DDaann winner Max Verstappen, said “Nobody wants to see a race
:::::: kkeebbeennaarraannddaarriippaaddaaPPiihhaakkBBeerrkkuuaassaaNNeeggeerrii BCCB.h.hHHdd....,,KKa5a5m5m5--AACC,,oonJnJsasaululaalltntnaannPcPceyeyrra(a(2n2n0g0g0,0,55T)T)aaSmSmddaannnn.. DDaallaammppeerrkkaarraammeennggeennaaiiAAttuurraann8833KKaaeeddaahh--KKaaeeddaahhMMaahhkkaammaahh,,22001122 Ferrari principal Mattia Binotto. finish under the safety car like
NANAtotoaammssbPbPoeoertrtaPaPkekerorossl:le:e0h0h77P9P9U9U9BBBBL2L2I0IC0C22I0IS0S0L0L0A0A4M4M00I9IC9C77BBKKAAaaNNvvKeKeaBaBttEEPPRReeHrHrsAsAeDeDnndNdNioiroriiaann bPbPeeeellaaaannppggppii,o,oi8in8n0t0te4e4d0d000aasJsJooLhLhioiqoqruruiBidBdaaaahthtororurur,,ttJoJooohahaococrtrt that. It felt like there was
ffoorr tthhee ppuurrppoossee ooff wwiinnddiinngg uupp tthhee AANNTTAARRAA The last six laps at Monza enough time to get the race
ccoommppaannyy’’ss aafffaaiirrss aanndd ddiissttrriibbuuttiinngg were spent with the field going again.
SSyyaarriikkaatt::1144332288--VV11007700&&11007711,,JJaallaannTTeellookkWWaannjjaahh,, iittssaasssseettss.”.” PPuubblliiccBBaannkkBBeerrhhaadd((NNoo..SSyyaarriikkaatt::66446633--HH)) .....PPLLAAIINNTTIIFF following the safety car, with
0055220000AAlloorrSSeettaarr,,PP..OOBBooxx7700,,0055770000AAlloorrSSeettaarrKKeeddaahh ““TTHHAATT tthhee LLiiqquuiiddaattoorr bbee iinnddeemmnniiffiieedd DDAANN ....DDEEFFEENNDDAANN Ferrari’s Charles Leclerc behind “We would have preferred to
ddiiddaaffttaarrkkaannppaaddaa2299JJuunn22002200jjaamm1122::4488::2277ppeettaanngg bccbhyhyaartrtghgheeeess,,CCoommlloopspsasasneneysys,, aaggeaeaxixinpnpsesetntnssaaeellssl ccooasasntntsdsd,, Verstappen and any hopes of a win the race under racing
liliininaabtbthihilelieittiieeeesxsxeeiincncucucututiriororrneneddaanonodrdrssdduuiisssstctcahahiiananreregdgdeebboyoyffhhhihimimiss CChheeaahhCChheeeeWWeenngg((NNooKKaaddPPeennggeennaallaann::888800552211007755335577)) home win for the team conditions and you could hear
dduuttiieessiinnrreellaattiioonntthheerreettoo.”.” disappearing. the displeasure of the crowd at
SSuurraattWWaakkiill::00779999SSWW22001166000000116622 LLEEEEMMEENNGGCCHHAANNGG MMeennuurruutt PPeerriinnttaahh MMaahhkkaammaahh 2T2Ti2in2ngOgOggkkiittoMoMbbaaelelararyy2a2a00d1d1i9i9PPddUaUaLnLnAA2U2U55PPOOIIgNgNoAoAsNsNG2G200m2m22e2e,n,ngaagdedenanalalaaaiihhPPdedeererininnnggttaaaahnhn the end there because it just felt
CChhaaiirrmmaann JJuuaallaann ddaann PPeerriinnttaahh bbeerrttaarriikkhh Boos broke out at the finish like everybody had been
HLyNPLHPyNaOeaoaOeaontrKn.trK.atgatHgaAHakAknbaSnb:aS:aekIae2kI2hrmhrD4amD4atlA6itlAae6ilae,Nlimr,NimrkNskNsaPe:oaPe:otbPEt.bPE.upaRLupaRLtojotIojoaIsHaatsHatkdAkd7dAd7aaaiL7aiL7nl2nla42Ha4AHhN,AhNA,-ABe-BH1eRH1Rag5agaT5anTe-nreA-rA1dra1draNi1Nati1at3aA,r3aA,rLn3HLnJ3HiJh0ineh0ne:5t:l5tdalud/au/naMtnaMtognogn1n1nHh/Hgh/g1ae1a,e,j5rSj5rSjae/aee/2hed2hdkk4iR4itsRts6a6eyaey,mhe,mheNmnNmeneoona4na4Bh,Bh,d,Dda,Dai1inak1nak1g1eegee66rnurnu0a0anaan0h0lhalaiJinTJnTsesieiemMlemMlububtu1tau1oaor,gnr,gnTLgaTLgaia,iina,inuPgHuPgHutkuta,kal,laaPkaaPkutmuutmuNlPNlPiaialioliouniunik.ka.aP1Pn1SnS5ig5intgn,t.r,a.raaNaNnntotgoaga.. DDaatteedd::1133SSeepptteemmbbeerr22002222 iinniiddiiissyyttiihhaarrkkaannbbaahhaawwaaTTiimmbbaallaannPPeennddaaffttaarr//PPeennoolloonnggKKaannaannPPeennddaaffttaarrPPuussaattOOppeerraassii and during the podium robbed of that finish.”
PBhHrHShPBhSrHHhiaeizAUaEAaezAUaEAarnrRHBarnRrgRHBtRbdgtbadHALGaaHALaGanaIAsJnAIkCAbsJAakCbeaADleeADhlaRbehaRb)lIh)liaIdSIhtiaadSItZaenadZLmennadLmAnrylaAArylsaaAaehsaBnaehBeMmnkneMemkneb:bdnI:kdnuIRtCkuedRtCeeedteeMptapMmpaapmBokaBaokkapslAkdp2slaAad2iaoaNitaoh7nNtah7khnkhK0adK0dasdsd,snsi,0iynibe0ijBybejBua01arua01aEraraE00yara0a0yRlataR%.ltat%.u0aHtr-u0aHr-sst0Aosdst0aAodyalyaDdsleaaD(dsea(rRuhrrR“iuhra“ip1aIaps1aIpNtsapNtaeepedGHepdpjGHmpjuaumGAuaueGAaelbaIhlRrubIhlRTruitlaTahiIdtaaihIdnrimanMrmgaBM(gB(1ayaEyA1ayaEyAa2naKra2LnaKrnLi0naniAzE0naAzgEg)agYRg)asYRsbbhSbJebhSJdeeadIdAdeaIdAiAdrriAlarirjlaaiia:jaalia:samlasydmaDeydamDeaaampbaaUpdbUrdiekriiAreabkiArablketlukee”tue”aapRaapmnRmnrnatrnattiAet.diAkue.dkurTtahrkTttahakPUtaaPUaBrPjeBkrSPjeuikSuikmaUlkmaUaluahnuBThlnbBTklabkkUaLikUlLnidlkenIJdkeDIJ.CaelD.CUaeloUUropUrpHnIaHnIynaaSynaSgfagtdfLatdPuLdnPuaAdnaakAUaigkUigwMsawMLsbaLabtaUabIutaUabtIuCmateHuCtmseHutsirirB.rhmrnB-.hRmn-RbAaBabAaBaiIurinImNaBurnmNagBtagktKUaikaaKUirtaairti EEVCVCE(ToE(ToIRHImNRHmNIEIECpMCpMIICHaIINNCHaNNEOnEOnEMTTEyM(MTTy(MN1HHN1HHBNBP1TNEEP1TEEEAoE8EAoE8RAMM:RR4NAMM:R4NSN2P7SNI2AAP7IAAE’0D5ER’0TTD5RTTSV1S0VTTI10TTISO6-SEEOA6-EEAVEL0RRVEL0CRRCU)1U)S1TSOOTN0OO,ND0,DFF12TFF12TNNA30A30..R81R81BB1Y61Y6HH99DD.. ee--LLeelloonnggddiiKKuuaannttaann ceremony when Verstappen
NNFsANANNNsFeiloooeirloooalral...ma...mammnRFTnTFRaejaaauejauauluxtlGjetxtGjeutnufunfukoykoyaaaanaanm,mn,nssaaiilnlanabb:::::e:::::errhhuubbuunnW00PWJNPgPN0WWJ0PgA44UUOA44UUCOdOCOd--LSL.--eLSLM.N55eMANA552AnAA2A33nGNN33U7GTgNNU7Tg99-99,(a-,C(aPPM58BCP1PnM85B1nHE88IMH:SE88IANM:S-ARNO55-RTO55J)ATJ55NO)A/55NOU/FNUPIFINPIIALGIALJ&GIJBO&GBOAGABOAMYBOAMY(RAA(RAASOSONPNHPH)DM)DM--HHANANLLJOJO//U2RU2R0J0J2A2A1Y1Y-A-A11,,55111144//0K0K0C0C00LL(B(BRRUUSSK/K/jIjI)T)TMMEERRTTAAJJAAMM,, AAKKAANNMMEENNJJUUAALLSSEECCAARRAA stepped out above a mass of Horner said the safety car
LLIIQQUUIIDDAATTIIOONN)) LLEELLOONNGGAAWWAAMM mostly Ferrari supporters. was out of position, arriving in
NNOOTTIICCEE IISS HHEERREEBBYY GGIIVVEENN TTHHAATT tthhee SSEECCAARRAAKKOEOEPPLMLMaaEEdPdKPKaLaTLTEHREHRKKaOaOSrSNrNiiMIMISKSKAeAeDlDHlaHallKsKsLLaAaAAA,M,MM4M4AAAOAOHHNkNkKtKWtoWoUUbEbAEAeBeNBrNrTeT2e2A-A-0L0NLN2E2E,2,L2LPP,O,OAAPNPNHaHaGGAdAd,,NaNaPPGJUGJUaSDaSDmAmAAATRTR11UOUO11LP:LP:0E0MEM0R0RAAApApKSaKSaMgIMgIieUie,U,--RLRLEELLOONNGG,, front of George Russell’s
CwwCrhreheidicdcihithtooirisrsssobobfefetitihnhnegegaavvboboololuvuvnenetntnaaaarrmimillyyeedwdwCoCoououmnmndpdpaauunnppyy,, “Booing a driver is never Mercedes rather than
2aa2r0r0e2e22r2reeqqttououiirresesdedennododnnioinonrr btbtheheefefoioirrrreenn1a1a4m4mOeOescscttooababnenedrdr NNOOTTAA:: BBaakkaall ppeemmbbeellii aaddaallaahh ddiinnaassiihhaattkkaann aaggaarr mmeemmbbuuaatt ccaarriiaann HHaakkmmiilliikk great,” Binotto told reporters. Verstappen, delaying matters.
dadadededbbdrttrsesessasasnenedsds ccwlwlaaiiitimtmhhssppaaananrrdtdtiiccttuhuhlelaearnrsnsaammoofefesstthahaenenidirdr sseeccaarraa rraassmmii ddii PPeejjaabbaatt TTaannaahh ddaann mmeemmeerriikkssaa sseemmuuaa ttaanngggguunnggaann,, bbeebbaannaann “Max was the fastest driver on
aaddddrreesssseess ooff tthheeiirr ssoolliicciittoorrss ((iiff aannyy)) ttoo sseerrttaa mmeennggeennaall ppaassttii ddeennggaann tteeppaatt hhaarrttaannaahh tteerrsseebbuutt sseebbeelluumm jjuuaallaann lleelloonnggaann track and deserved the win, so Horner said the FIA should
tthhee uunnddeerrssiiggnneedd LLiiqquuiiddaattoorr aanndd,, iiff ssoo ddiijjaallaannkkaann.. that (the boos) was not good. have stopped and re-started if
rreeqquuiirreedd bbyy nnoottiiccee iinn wwrriittiinngg ffrroomm tthhee they had known there would
ssaaiiddLLiiqquuiiddaattoorr,,oorrbbyytthheeiirrssoolliicciittoorrssoorr SSiillaallaayyaarriihhtttppss::///eelleelloonngg..kkeehhaakkiimmaann..ggoovv..mmyy//bbiiddddeerrwweebb “I think the booing from our not be enough time to finish
ppeerrssoonnaalllyy ttoo ccoommee iinn aanndd pprroovvee tthhee tifosi (fans) was more toward normally.
ssaaiidd ddeebbttss aanndd ccllaaiimmss aatt ssuucchh ttiimmee BBUUTTIIRR--BBUUTTIIRRHHAAKKMMIILLIIKK:: the FIA.
aannddppllaacceeaasssshhaalllbbeessppeecciiffiieeddiinnssuucchh The FIA said in its defence
nbbnoeeottieicecxexec,c,loluourdrdeieindnddfdfrereooffmamauulltttthhtetheheebbrreeeenonoefef,,ffititththeoeoyfyf awawnniilylyl NNoo..HHaakkmmiilliikk :: GGMM22446611 “The tifosi or the people out that every effort had been
dadaninissdtdtrrciciblblauauitimtimioosnsnaamrmreeaapdpdrereoovvbebeededf.fo.orree ssuucchh ddeebbttss NNoo..LLoott :: 99228844 there believe the safety car made to resume racing but
LLiiqquuiiddaattoorr NPMNPMeoeuoug.g.kkaPaPiinmenmegtgt/aa/aDakDnkna/a/NeNeroroaa..hThT/i/iNnNngegekgkgaeaertrt/i/iNNoo.. :::::: 1133//TTiimmuurrLLaauutt//PPuullaauuPPiinnaanngg could have been ended before marshals were unable to get the
KKaammCChhaaiiHHoonngg BBaanngguunnaann :: HHaakkmmiilliikkKKeekkaall and give still a couple of laps for McLaren into neutral and push
5555--AA,,JJaallaannPPeerraanngg,, 9922//1133//MM11 the show, for battles on track.” it away.
TTaammaannPPeellaannggii,,
8800440000JJoohhoorrBBaahhrruu.. KKeelluuaassaannTTaannaahh :: 771100..4422kkaakkiippeerrsseeggii Binotto said the FIA needed Mercedes team boss Toto
DDaatteeddtthhiiss1133tthhddaayyooffSSeepptteemmbbeerr22002222 :: 6666..0000mmeetteerrppeerrsseeggii to do a better job with the Wolff agreed the rules had been
PPeemmiilliikkBBeerrddaaffttaarr :: CChheeaahhCChheeeeWWeenngg safety car. followed.
SSyyaarraattNNyyaattaa :: PPeettaakkiinniihheennddaakkllaahhddiigguunnaakkaannuunnttuukkttuujjuuaann
rruummaahhppaannggssaassaahhaajjaa.. Red Bull boss Christian “If one is not happy with the
SSeekkaattaannKKeeppeennttiinnggaann :: TTiiaaddaa Horner argued there was plenty regulations, and you want to
BBeebbaannaann//LLaaiinn--LLaaiinn :: of time to remove Daniel have a big bang show and two
KKaavveeaatt :: Ricciardo’s stranded McLaren laps of racing and mayhem, I
KKaawwaassaannRRiizzaabb :: and renew racing. think I’m absolutely up for it. But
then we need to change the
MHLMLHOaOaaarKrKrtrtaAiaAinnnSnSaaaIaIhThDTDotoAteAwewNrNrseseePrePr,b,EbELuLRuRetetIbIaHbaHudAudAahahLlLlaRaHRhHheAeAAlAlaRaRu3Tu3TA,-A,-b1Nb1Ne1eA1Ad9d9HrH0r0oo0:o0:o,m,mBBaaaaypypaaaannrrtLtmLmeeepepnanatsts,y,yaPaPnunuglglaabbuueerPrPaailinlanaamamnnaaggtt..ppoossddiiNNoo..11--1122--88,, “It was disappointing not to regulations,” he said. – Reuters
win under racing conditions
CALL TO PLACE CLASSIFIED ADS HHAARRGGAARRIIZZAABB::
HHaarrttaannaahh tteerrsseebbuutt aakkaann ddiijjuuaall aattaass ““sseeppeerrttiimmaannaa sseeddiiaa aaddaa”” tteerrttaakklluukk kkeeppaaddaa ssaattuu
MS. SHOBA hhaarrggaarriizzaabbsseebbaannyyaakkRRMM222244,,000000..0000((RRIINNGGGGIITTMMAALLAAYYSSIIAA::DDUUAARRAATTUUSSDDUUAAPPUULLUUHH--
EEMMPPAATT RRIIBBUU SSAAHHAAJJAA)) ddaann kkeeppaaddaa ssyyaarraatt--ssyyaarraatt jjuuaallaann yyaanngg ddiillaammppiirrkkaann.. PPeemmbbiiddaa
T 03 7784 8888 yByBaaaannnnggkkbbDDeerrrramamffiindndaiaittaaththaaeessnndndnaaaakmkmllaaaahhPPmUmUBeBenLnLdIdICCeeppBBooAsAsiNitNtkKkKaanBnBE1E1R0R0H%H%AADdDdaa1r1riippHHaaAdAdaRaRIIhhBaBaErErgKgKaaEERrRriJizJzaAaAbbssdedeabablelaealmlumummbbteteaannrrtitikukuhkhk
F 03 7784 4424 lleelloonnggaawwaamm..BBaakkiihhaarrggaabbeelliiaannhheennddaakkllaahhddiibbaayyaarroolleehhppeemmbbiiddaayyaannggbbeerrjjaayyaakkeeppaaddaa
PPUUBBLLIICC BBAANNKK BBEERRHHAADD ddaallaamm tteemmppoohh sseerraattuuss dduuaa ppuulluuhh ((112200)) hhaarrii ddaarrii ttaarriikkhh
jjuuaallaann..UUnnttuukkbbuuttiirr--bbuuttiirrsseellaannjjuuttnnyyaa,,ssiillaabbeerrhhuubbuunnggddeennggaann::--
FFiirrmmaaGGuuaammaann:: WWOONNGG--CCHHOOOOII&&MMOOHHDDNNOORR
AAllaammaatt :: NNOO..2277,,11SSTTFFLLOOOORR
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NNoo..TTeelleeffoonn ::
NNoo..FFaaxx :: 0044--55339955885555
NNoo..RRuujjuukkaann :: WWCCMMNN((BBMM))//PPBBBB--HHLL//22001199--553300//CCCCWW((RRSS//jj))

22 theSUN ON TUESDAY | SEPTEMBER 13, 2022 FOLLOW ON FACEBOOK SCAN
SPORTS ME
/thesundaily

█ ELEANOR CROOKS On top of the world Ferrero, and his team for helping to
change his mindset.
CARLOS ALCARAZ has the Alcaraz wins maiden grand slam title and claims No. 1 ranking
taste for grand slam success “In Montreal and in Cincinnati I
after winning his maiden having the trophy in my hands. Masters trophies in Miami and beaten by Nadal in his maiden slam lost the joy a little bit,” he said. “I felt
title at the US Open and “But of course I’m hungry for Madrid, where he beat Nadal and final at the French Open, could not the pressure. I couldn’t smile on
claiming the world No. 1 ranking. Novak Djokovic back to back, and has find the killer blow. court, which I’m doing in every
more. I want to be at the top for many, proved himself to be a complete match, every tournament.
The 19-year-old defeated Casper many weeks. I hope many years. player despite his tender years. “It’s crazy for me,” he said. “I’ve
Ruud 6-4, 2-6, 7-6(1), 6-4 to ensure he never thought that I was going to “I came here just to enjoy. To smile
pipped his opponent to top spot in “I’m going to work hard again after Alcaraz has also shown achieve something like that at 19 on court, to enjoy playing tennis. I
the rankings, becoming the youngest these amazing two weeks. I’m going remarkable powers of physical years old. love playing tennis, of course. I would
man ever to make it to number one. to fight to have more of this.” endurance, recovering from three say if I smile, if I have fun out there, I
successive five-set matches, two of So everything came so fast. It’s play my best level, my best tennis.”
Alcaraz is more than a year It is only a year since Alcaraz burst which finished past 2am. something I dream (of) since I was a
younger than Lleyton Hewitt was into the spotlight by reaching the kid, since I started playing tennis.” Alcaraz was in tears on his chair
when he topped the standings in quarterfinals at Flushing Meadows He spent 23 hours and 40 minutes after the match, and he revealed he
2001 and set the previous record. but his talent was already well known on court during the fortnight, another Alcaraz arrived in New York with a was thinking about his mother and
within the sport and he has climbed record, and at times he appeared few doubts after early losses in the his grandfather, who did not travel to
The Australian’s pre-eminence in the rankings at warp speed. physically and mentally weary during ATP events in Montreal and the States.
the sport proved short-lived as first the final but Ruud, who was heavily Cincinnati and he thanked his coach,
Roger Federer and then Rafael Nadal He showed that he was ready to former world No. 1 Juan Carlos The teenager uses the mantra
ascended to the top of the game, but win the biggest titles by lifting “brain, heart, courage”, and he said:
in the week where King Charles “These things mean a lot to me
assumed sovereignty, tennis appears because my grandfather told me
to have crowned a new king. (them) since I was a kid in every
match, in every tournament. This is
“Right now I’m enjoying the something that I remember in all the
moment,” said Alcaraz. “I’m enjoying tough moments.” – The Independent

INSIDE EDGE Shane Lowry This one’s for the good guys: Lowry
plays from the
Asia Cup win will help WC 15th tee on the IRELAND’S Shane Lowry labelled his from 23 feet finish millimetres from the
preparation: Shanaka final day of the BMW PGA Championship triumph on hole.
BMW PGA Sunday as “one for the good guys” in a
SRI LANKA captain Dasun Championship swipe at the controversial LIV Golf Series. It was a dramatic end to an
Shanaka said winning the Asia and celebrates acrimonious week for a tournament
Cup will help the team’s kissing the trophy Lowry pipped Jon Rahm and Rory featuring 18 players from the Saudi-
preparation for next month’s (below) after McIlroy to the title at Wentworth backed LIV Golf Series.
Twenty20 World Cup. Sri Lanka victory. – yesterday in a tournament trimmed to 54
won the Asia Cup for the sixth AFP/REUTERSPIX holes after Friday’s play was postponed Lowry had said at the start of the
time on Sunday after Bhanuka following the death of Queen Elizabeth II. week that he “can’t stand” the LIV stars
Rajapaksa’s batting masterclass being in the field after the breakaway
and Wanindu Hasaranga’s all- Former US Open champion Rahm had tour plunged golf into civil war.
round brilliance secured their 23- set a testing clubhouse target of 16-
run victory against Pakistan in the under following a brilliant final round of Meanwhile, LIV player Ian Poulter was
final. “We played last year’s 62, featuring a back nine of just 29. seen in a heated exchange with
qualifiers as well... it’s the set-up American star Billy Horschel on the
that has come through from three But Lowry responded with an eagle putting green before the tournament
or four years back,” Shanaka told and five birdies of his own in a closing 65 started.
reporters. “The last two years were to finish 17-under.
really good for us… and winning American Talor Gooch was the top
Asia Cup will really help for the… Rewarded for his consistency, the finisher from the LIV players at
World Cup.” former British Open winner did not Wentworth in fourth place, and Lowry
record a single bogey throughout the took the opportunity to hit back at the
… and dedicates win to event. rival tour after his victory.
crisis-hit country
McIlroy found himself needing to “I made no secret how I feel about the
SKIPPER Dasun Shanaka yesterday eagle the 18th to force a playoff with whole thing. I wanted to win for myself
dedicated the Asia Cup triumph to
the crisis-hit nation. The island Lowry but saw his first and foremost, but for
nation has suffered months of putt everyone that has stayed
economic crisis and political unrest loyal to this Tour I really feel
with blackouts, fuel shortages and this is one for the good
protests becoming part of their guys,“ Lowry said.
lives. The Sri Lankan fans present “It’s been a good
at the Dubai International Stadium year, but felt like I’ve
celebrated the win with drums and been close a few times
songs as the team took a victory and only a few
lap of the ground with the trophy. tournaments left this
“They were waiting for it for so season and I really
long, especially the final,” Shanaka wanted to win one and this
told reporters. “We should was top of the list.
dedicate this win to the whole “I’m so happy. I can’t put
nation.” into words how happy I am,
how much I love this tour,
NZ leave Australia this tournament. I’m
frustrated again the happiest
man in the
A despondent New Zealand face a world right
period of introspection on home now.” –
soil after a stinging white-ball series AFP
loss against Australia rocked the
Black Caps’ confidence ahead of the CASPER RUUD fell short in his bid Ruud has reason to believe in the quarterfinals and Russian
T20 World Cup. Australia’s 25-run to lift the U.S. Open trophy Karen Khachanov in the semis.
victory in the third ODI in Cairns on yesterday after losing to Carlos Slam final. “I guess I hope I don’t play a
Sunday completed a 3-0 series Alcaraz but the Norwegian said the “In Roland Garros, (it) was hard Spanish player if I ever reach Ruud said Alcaraz, who also beat
sweep after New Zealand tournament had helped cement his another Slam final. They know what him at the Miami final, was a “hard
squandered winning positions in belief he will win a Grand Slam one for me to believe that I could beat they’re doing in the Slam finals.” nut to crack”.
the first two matches. New day – as long as he avoids a Rafa,” Ruud, who rises to No. 2 in
Zealand’s last win over Australia in Spaniard in the final. the world from seventh spot, told Known for his claycourt “I still thought I was the
any format was back in 2011, when reporters. prowess, Ruud enjoyed a superb underdog in a way,” the 23-year-old
they grabbed a seven-run win in a Ruud was unable to match 2022 that saw him collect titles at told reporters.
Hobart Test. With Australia set to Spanish teen Alcaraz’s firepower at “Today was not easier, but I Gstaad, Geneva and Buenos Aires.
host the T20 World Cup in October, Arthur Ashe Stadium, the defeat believed it more. I think these two “But it was more fun for me
Kane Williamson’s team have yet to coming months after he fell to tournaments have sort of made my He showed he could be just as today. I didn’t need to play the
find a way to beat the defending another Spaniard, Rafa Nadal, at self-belief to win a Grand Slam effective on New York’s hard courts, biggest idol of my life on the
champions in their own backyard. It the French Open in his first Grand grow. beating 13th seed Matteo Berrettini biggest match of my life. It was sort
was “a pretty frustrated dressing of easier for me to believe that I
room last night”, New Zealand head could win.” – Reuters
coach Gary Stead told reporters
yesterday. “The guys are
disappointed and we’re frustrated
to think of having opportunities in
all three matches and not getting
over the line,” he added.

FOLLOW ON YOUTUBE SCAN 23theSUN ON TUESDAY | SEPTEMBER 13, 2022
ME * SPORTS
/theSunMedia
SHORTS
RESULTS & STANDINGS ‘We’ve been Union Berlin make history

LA LIGA: Real Madrid 4 (Valverde 45+3, warned’ Bayernwaryaheadof UNION BERLIN went top of the
Vinicius 72, Rodrygo 89, Rudiger 90+3) Real Lewandowski reunion Bundesliga for the first time in their
Mallorca 1 (Muriqi 35), Elche 1 (Ponce 59) BAYERN MUNICH will welcome Robert history thanks to a 1-0 victory at
Athletic Bilbao 4 (Fernandez Mercau 9-og, Lewandowski’s Barcelona to the Allianz Cologne.
Sancet 14-pen, Williams 22, Berenguer 44), Arena tomorrow (3am Malaysian time),
Getafe 2 (Alena 48, Unal 45+5) Real Sociedad hoping to jolt themselves out of a poor An early own goal by Timo Hubers
1 (Mendez 50), Real Betis 1 (Rodri 61) Villar- run of Bundesliga form. was enough to reach the summit,
real 0. although they squandered the chance
Despite last week’s impressive 2-0 win at Inter to double the lead soon after when
TOP 10 P W D L F A Pts Milan, Bayern have drawn three games in a row Salihamidzic said on Saturday when asked if his goalkeeper Marvin Schwabe saved
Real Madrid 5 5 0 0 15 5 15 and sit in the unfamiliar position of third place side were fearful ahead of Barca’s visit. Jordan Siebatcheu’s penalty.
Barcelona 5 4 1 0 15 1 13 after six matches.
Real Betis 5 4 0 1 8 3 12 “We have to shift up two gears, even three Union’s place at the top was secure
Villarreal 5 3 1 1 9 1 10 While Bayern have not struggled to find the against Barcelona. after Freiburg had to settle for second
A. Bilbao 5 3 1 1 9 2 10 back of the net this season with 31 goals in nine place following a goalless draw at
games, they have missed Lewandowski’s “Barcelona have top players, play good home to Borussia Monchengladbach.
SERIE A: Atalanta 1 (Demiral 74) Cremonese penetration at crucial moments in recent weeks. football (and) ‘Lewa’ is up front, he uses every
1 (Valeri 78), Bologna 2 (Barrow 59, Arnautovic opportunity.” Union and reigning champions
62) Fiorentina 1 (Martinez 54), Juventus 2 Lewandowski has had a dominant start to life Bayern Munich are the only two sides
(Bremer 51, Bonucci 90+3) Salernitana 2 in Spain, scoring six times in five La Liga matches Manager Julian Nagelsmann said his side’s still unbeaten in the Bundesliga this
(Candreva 18, Piatek 45+5-pen), Lazio 2 for Barcelona to sit in his usual spot atop the Bundesliga form will not change the preparation season.
(Immobile 68, Luis Alberto 90+5) Hellas Verona goalscoring charts. for tomorrow’s game.
0, Lecce 1 (Gonzalez 48) Monza 1 (Sensi 35), “We are doing well. That’s why we
Sassuolo 1 (Frattesi 33) Udinese 3 (Beto 75, With four wins and a draw, Barcelona are “I approach the week the way I would have are where we are,” captain Christopher
90+3, Samardzic 90+1). unbeaten in the league and sit second behind done it if we had won,” Nagelsmann said on Trimmel told DAZN.
Real Madrid. Saturday.
TOP 5 P W D L F A Pts It was Cologne’s first league loss of
Napoli 6 4 2 0 13 4 14 In the Champions League, Lewandowski “We’re trying to come up with a good idea for the season and kept them seventh in
Atalanta 6 4 2 0 10 3 14 opened his account with a hattrick in Barcelona’s Barcelona, which will be difficult. the early table.
AC Milan 6 4 2 0 12 6 14 5-1 home win against Viktoria Plzen.
Udinese 6 4 1 1 12 6 13 “I would have done the same thing if we had “It’s a deserved victory. You have to
Inter Milan 6 4 0 2 12 8 12 Speaking directly after their 2-2 home draw won 4-0 today.” acknowledge that quite clearly,”
with Stuttgart on Saturday, Bayern sporting admitted Cologne coach Steffen
BUNDESLIGA: Freiburg 0 Borussia director Hasan Salihamidzic said his team knew After his side’s 2-0 win over Inter, Nagelsmann Baumgart.
Moenchengladbach 0, Cologne 0 Union better than most the kind of damage said his side were “looking forward” to taking on
Berlin 1. Lewandowski could inflict. the man who scored 344 goals in 375 Bayern “I haven’t seen a team play as well
appearances. here as Union did for a long time.
TOP 5 PWD L F A Pts “We have been warned,” Salihamidzic said
Union Berlin 6 4 2 0 13 4 14 about his former striker’s form for his new club. “I am looking forward to it (the reunion with “You’ve got to recognise that the
Freiburg 6 4 1 1 10 5 13 Lewandowski). Not so much as an opponent plan we had did not work at all.”
B. Munich 6 3 3 0 19 5 12 Bayern have a strong recent Champions because he’s very dangerous, but as a person I
Hoffenheim 6 4 0 2 12 7 12 League record against Barcelona, with two 3-0 will be pleased to see him.” Potter asks Brighton fans
Dortmund 6 4 0 2 8 7 12 wins last season along with an 8-2 quarterfinal for forgiveness
thumping on the way to winning the 2020 title. Nagelsmann said he hoped fans would
FRENCH LIGUE 1: Strasbourg 0 Clermont 0, welcome Lewandowski back warmly, despite the GRAHAM POTTER has pleaded with
Toulouse 1 Reims 0, Angers 2 Montpellier 1, The six-time European champions are acrimonious nature of his departure. Brighton fans to forgive him for leaving
Lorient 3 Nantes 2, Ajaccio 0 Nice 1, Rennes however fully aware that this Barcelona side is the club to become Chelsea’s new
Auxerre 0, Monaco 2 Lyon 1. stronger than some of the recent incarnations. “I hope the fans will honour that too, manager.
regardless of how things were with his departure.”
TOP 5 P W D L F A Pts “Worried? I don’t know (about that),” Potter, 47, signed a five-year deal at
Paris SG 7 6 1 0 25 4 19 Bayern forward Thomas Muller, who said he Stamford Bridge last week to succeed
Marseille 7 6 1 0 15 4 19 was “mad at ourselves for the first time this Thomas Tuchel, who was sacked earlier
Lens 7 5 2 0 16 7 17 season” after the draw with Stuttgart, said he was in the week.
Lorient 7 5 1 1 14 11 16 happy for the focus to shift away from his side’s
Lyon 7 4 1 2 16 9 13 domestic problems. In an open letter published on
Brighton’s official website yesterday,
“We’re really looking forward to the duel – not Potter said he would cherish “three
just because of Robert,” Muller said. “It’s a wonderful years” at Brighton but
meeting at the summit in the group.” – AFP accepted some fans would not be able
to forgive him.
Carnage in Turin Real Madrid’s Vinicius
after goal ruled out Junior (left) fights for “This has been three wonderful
the ball with Real years with a club that has changed my
LEONARDO BONUCCI scored a stoppage- Mallorca’s goalkeeper life and I want to take a moment to say
time equaliser as Juventus fought back from Pedrag Rajkovic goodbye to all of you who have made
two goals down to draw 2-2 at home with during the La Liga it such a special period of my career,”
Salernitana but Massimiliano Allegri’s side match at the Potter said.
were denied a late winner by VAR in a chaotic Santiago Bernabeu
end to their Serie A clash yesterday. yesterday. – AFPPIX “I bid farewell to a great club and
one that will always mean so much to
Juventus, who recorded their fourth draw Madrid me and my family. For some I
in six Serie A games this season, thought they return to recognise that the change that comes
had snatched all three points when substitute the top so suddenly in football can be hard to
Arkadiusz Milik headed home in the 94th accept.
minute but the goal was disallowed following VINICIUS JUNIOR scored for the fifth game d’Or, sidelined by a thigh injury sustained in the
a VAR review for offside. running as Real Madrid came from behind to beat midweek Champions League win over Celtic. “I may not be able to persuade you
Real Mallorca 4-1 in La Liga yesterday and extend all to forgive my departure – but I
Milik was sent off for a second yellow card their perfect start to the season. “The team was able to overcome the absence would at least like to take the chance
after taking his shirt off in a premature of Karim. It’s an important confidence boost,” said to say thank you.”
celebration, along with teammate Juan Mallorca grabbed a surprise lead through Ancelotti. “(But) we hope to get him back as soon
Cuadrado and Salernitana’s Federico Fazio who Vedat Muriqi on 34 minutes but Federico Valverde as possible.” Ronaldo may get
were involved in a confrontation as tempers levelled for the hosts in first-half stoppage time transfer wish
flared between the teams in a prolonged after a brilliant solo run. While Eduardo Camavinga, Nacho, Luka
melee. Modric and Dani Carvajal all came off the bench CRISTIANO RONALDO could yet to be
Vinicius put Real ahead with 18 minutes to during the match, Marco Asensio was denied a offered an escape route from
The draw left Juventus eighth in the table play before late goals from Rodrygo and Antonio late cameo against his former club. Manchester United with Yasser Al-
on 10 points, level, with Salernitana three Rudiger rounded out a fifth successive league win Misehal, president of the Saudi Arabian
points behind in 10th. as Carlo Ancelotti’s side moved back above He was caught throwing a huge tantrum on Football Federation, admitting he’d
Barcelona at the top. the touchline after Ancelotti’s decision not to love to see the veteran playing in his
“The second half was a good game,” Allegri bring him on. country.
told DAZN. “It’s a result that sends us into the “Vini is a special player, for the way he plays
match on Wednesday with a different mood and for his character,” said Ancelotti. “He has After ending a touchline warm-up, the “We would love to see a player like
than a defeat.” extraordinary quality. midfielder marched back to the dugout and threw Cristiano Ronaldo playing in the Saudi
a training bib onto a seat. league,”Yasser said.
Salernitana coach Davide Nicola praised “The match was very difficult for several
the VAR. reasons. There was the heat, the fact we conceded He then booted something on the ground as “It would bring a huge positive
from a set-piece… All that was a bit predictable, he stomped angrily back to the bench. feedback and it would be big news for
“We are very satisfied with the but we finally managed to turn things around and everyone.
performance we put in and it would’ve been win the game.” Ancelotti addressed the situation after the
very disappointing to leave empty-handed,” game, displaying sympathy for the star’s “I’m sure everyone knows the
he said. Madrid were without injured forward Karim predicament. achievements and records of Cristiano
Benzema, the favourite for next month’s Ballon Ronaldo, but also as a player who is a
“VAR proves this sport has credibility. From “Asensio’s anger for not playing? I agree with great role model.
the moment that the player who is offside tries him, so I’ll keep it in mind.” – AFP/Daily Star
to reach the ball, he is interfering with play.” “I think, ‘Why not?’. I’m sure it would
be a very expensive deal, of course, but
Juventus, who opened their Champions we can see our clubs getting higher
League campaign with a 2-1 defeat at Paris St revenues in the past couple of years.
Germain on Tuesday, remain unbeaten in Serie
A following four draws and two wins. “We have already seen some big
players who used to play in the
They next host Benfica in Europe on Premier League come to the Saudi
Wednesday after which they travel to bottom- league.
placed Monza in the league before the
international break. – Reuters “I like Cristiano Ronaldo as a player
and I would like to see him play in
Saudi Arabia.”

TUESDAY • SEPTEMBER 13, 2022 kids QUOTE OF THE DAY

New We had a great race. On every compound
we were good. Unfortunately we didn’t
get a restart at the end but overall we had a really
good day. It was really enjoyable to drive today. A
great day for us. It took a bit of time to be on a
great podium like this.”

Max Verstappen

on the block
Alcaraz, Swiatek lead US Open changing of guard The 21-year-old Pole’s straight sets
NE W L Y - C R O W N E D victory over Ons Jabeur in Saturday’s
champions Carlos Alcaraz joining eventual finalists Alcaraz and Alcaraz, whose title made him the landscape. final was her third career Grand Slam,
and Iga Swiatek led a Casper Ruud. youngest world No. 1 in history. “It’s cool to see a new era,” Tiafoe and her first on a surface other than the
changing of the guard at the red clay of Roland Garros, where she
US Open as the transition from the “Big The 19-year-old Alcaraz is not quite Alcaraz’s coach Juan Carlos Ferrero said. won in 2020 and 2022.
Three” era and Serena Williams ready to call time on Nadal, Djokovic cautioned against expecting Alcaraz to “I don’t think it will be a big three. It
gathered pace. and Federer just yet, but acknowledges emulate the Grand Slam achievements Swiatek’s season has included seven
that a generational shift is well and truly of the Big Three. will be like a big 12. There’s a tournament victories, as well as
The exiled Novak Djokovic, under way. bunch of guys playing great a remarkable 37-match
prevented from competing in New York “I think it’s going to be very, very tennis.” winning streak.
due to US government vaccination “As long as Rafa, Djokovic, Federer difficult to achieve what they have done Swiatek, most
mandates for visitors from overseas, are there, they will be the best and the in tennis,” Ferrero said. “We’re talking In women’s tennis, comfortable on
may yet return to add to his collection rivalry they have between them will about 22 Grand Slams. He has only one. meanwhile, newly- clay, said her
of 21 Grand Slam titles next year. always come first,” said the Spaniard minted US Open victory in New
after his five-hour 15- “But who knows? I think he has all champion Swiatek York on hard
But the continued absence from minute quarterfinal epic the tennis and potential to be one of the looks more than court could
men’s tennis of the 41-year-old Roger with Jannik Sinner. best.” capable of filling turn out to be
Federer and the fourth round exit of 22- the vacancy created a
time Grand Slam champion Rafael “But Jannik and I Rising American star Tiafoe believes by the retirements psychological
Nadal provide further proof that the have shown that we the depth in the men’s game would of both Williams watershed for
trio’s era of domination is drawing to a are the present and and Ashleigh Barty, her career,
close. we also have long prevent one or two players the former world No. saying the “sky
careers ahead from dominating the 1 who stunned the is the limit.” –
The women’s game is already of us,” post Big-Three sport by retiring in AFP
confronting the departure of an icon, added March at just 25.
with the 40-year-old Serena Spain’s Carlos Alcaraz
Williams heading into celebrates with the winners
retirement following an trophy after defeating
emotional farewell in New Norway’s Casper Ruud (not
York. pictured) during their men’s
singles final of the 2022 US
Williams’ exit in the third Open at USTA Billie Jean King
round, and Nadal’s last-16 National Tennis Centre
defeat, meant that for the yesterday. – AFPPIX
first time since 2003 at a
Grand Slam event, the
quarterfinals of the women’s
and men’s draws did not
feature at least one of Williams,
Nadal, Djokovic or Federer.

“It definitely shows that there’s
a changing of the guard going on, and
obviously some of it has to do with age
– for Roger Federer,” Swedish great
Mats Wilander told the Eurosport
television network.

“Some of it has to do with Rafa not
playing enough matches to be ready,
and of course, a lot of it has to do with
the fact Novak Djokovic wasn’t allowed
to come because he’s not vaccinated.

“But at the same time, the depth in
the men’s game is unbelievable.”

Adding weight to that view is the fact
that the men’s draw saw four new faces
in the semifinals, with debutants
Frances Tiafoe and Karen Khachanov

Tuchel details devastation with classy statement after sacking

THOMAS TUCHEL has revealed his devastation at Chelsea to the UEFA Super Cup and FIFA Club entirely based on the shock defeat in Zagreb and clash with Liverpool on Sunday (11.30pm
being sacked by Chelsea – stating he hoped to World Cup during his 20-month tenure. tension behind the scenes had been building for Malaysian time).
remain in charge at Stamford Bridge for many several weeks following a difficult start to the
years before Todd Boehly ruthlessly wielded the Speaking for the first time since his dismissal, campaign. In his column for the Daily Mirror, Liverpool
axe. Tuchel issued an honest, classy statement to legend Robbie Fowler warned the former Brighton
Chelsea supporters via his Twitter account. Chelsea have lost three of their seven matches boss that there are issues to address in his
The Blues confirmed the departure of their so far this season following a summer of excessive dressing room.
German head coach last week following the club’s The heartfelt message read: “This is one of the spending that saw new owner Boehly splash in
bitterly disappointing 1-0 Champions League most difficult statements I have ever had to write – excess of £270 million (RM1.45m). “The dressing room looks a mess as well.
defeat to Dinamo Zagreb in Croatia on and it is one which I hoped I would not need to do Maybe that’s Tuchel’s fault, maybe not,” Fowler
Wednesday – a result that proved to be the final for many years. I am devastated that my time at Tuchel was at the heart of the club’s relentless wrote.
straw for the Champions League-winning Chelsea has come to an end. recruitment drive, playing an integral role in
tactician. negotiating transfers and identifying targets. “There are a lot of big egos in there, and some
“This is a club where I felt at home, both of them seem to be butting up against each other.
Chelsea have since wasted no time at all in professionally and personally. Thank you so much The departure of director Marina Granovskaia
appointing Graham Potter as Tuchel’s replacement to all the staff, the players and the supporters for left Chelsea light on the ground upstairs, meaning “I’ve already heard questions about whether
on a long-term contract after forking out £21 making me feel very welcome from the start. Tuchel was having to work overtime and taking he’ll be able to handle those big egos, and win
million (RM113m) on a lucrative compensation on additional responsibilities away from coaching over players who seem to have the power at that
package for the highly-rated 47-year-old and five “The pride and joy I felt at helping the team to the team. club to get managers sacked.
members of his technical staff. win the Champions League and the Club World
Cup will stay with me forever. A number of senior players are believed to “He’s shown at Brighton he can improve
While there is a feeling of excitement about the have been frustrated with his tactics and game players massively, and he’s also shown he knows
new era in west London, there are also feelings of “I am honoured to have been a part of this plans, which had not delivered the results Chelsea the game, has refreshing ideas and is astute
sorrow about the way it ended for one of the club’s history and the memories of the last 19 desired. technically and tactically.
club’s most successful managers, who also guided months will always have a special place in my
heart.” Potter has been warned that his newly- “How does he deal with a split dressing room
inherited team “looks a mess” ahead of the Blues’ though? The answer is to go in there without
It’s understood Chelsea’s decision was not preconceptions” – Express Newspapers

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