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Progressive wage to cover those with RM1,500- RM4,999 monthly salary, MNCs and GLCs exempted CEOMorningBrief FRIDAY, DECEMBER 1, 2023 ISSUE 679/2023 theedgemalaysia.com OPEC+ AGREES ON DEEPER OUTPUT CUTS TO AVOID RENEWED SURPLUS p20 HOME: No plan to collect fingerprints for national digital ID programme, says Fahmi p2 Galen Centre: Passage of anti-smoking bill leaves bitter taste p4 YTL Corp and YTL Power replace Dialog and Westports in KLCI p5 CIMB 3Q net profit rises 31% to RM1.85 bil on stronger non-interest income p6 Capital A anticipates further revenue upswing after 3Q losses narrow sharply p7 Report on Page 3. THE EDGE FILE PHOTO

FRIDAY DECEMBER 1, 2023 2 THEEDGE CEO MORNING BRIEF published by ( 2 6 6 9 8 0 - X ) tel . 603-77218000 Level 3, Menara KLK, 1 Jalan PJU 7/6, Mutiara Damansara, 47810, Petaling Jaya, Selangor, Malaysia publisher + ceo . Ho Kay Tat editor-in-chief . Kathy Fong chief commercial officer . Sharon Teh chief operating officer . Lim Shiew Yuin editors . Jenny Ng . Tan Choe Choe Lam Jian Wyn to contact editors: [email protected] to advertise: [email protected] the edge ceo morning brief Read from desktop or mobile device. You can print in A4 to read. Set print mode to fit or shrink oversize page. to get on emailing list [email protected] SC will not hesitate to take criminal action against ‘bad actors’ in capital market, says chairman KUALA LUMPUR (Nov 30): The government does not intend to collect fingerprints in the implementation of the National Digital Identity (NDID) programme as claimed by many content creators on various social media platforms, the Dewan Negara was told on Thursday. Communications and Digital Minister Fahmi Fadzil said since the announcement about the programme was made by Prime Minister Datuk Seri Anwar IbraKUALA LUMPUR (Nov 30): The Securities Commission Malaysia (SC) said it will not tolerate any non-compliance by capital market players, and will not hesitate to take criminal action against those involved in fraudulent activities. Its chairman Datuk Seri Dr Awang Adek Hussin said the SC will “enforce stronger supervisory actions against intermediaries lacking proper internal controls, indirectly allowing fraudulent activities to compromise the integrity of the capital market”. He said the SC is committed to working hand in hand with the Federation of Investment Managers Malaysia (FIMM) to achieve the objective, and promote trust in the capital market. “As a self-regulatory organisation, the FIMM must hold ‘bad actors’ accountable. You cannot and should not tolerate any fraud. Unit trust consultants (UTCs) siphoning money, especially from vulnerable investors, will hurt the trust and reputation of our industry, and affect our efforts to develop the market,” he said. Bernama HOME him, there had been a lot of inaccurate, misleading, and false content circulated on social media claiming that the government would be collecting fingerprints for the purpose. “Even though the NDID programme is under Mimos Bhd, and not the Ministry of Communications and Digital, I take this opportunity to clarify that we do not intend to collect fingerprints. The digital ID is a single sign-on initiative, and this is In his speech at the FIMM’s 30th Anniversary Dinner 2023 on Wednesday night, Awang Adek said the capital market will not grow once investors lose confidence in the market and the safety of their investments. As such, the FIMM also must enforce its code of ethics to instil a good culture of compliance, integrity and honesty among its members, he said. He said it is important to prioritise investor protection and accountability, and ensure all systems and procedures are in place to prevent fraudulent activities. “To earn the trust and faith of investors, people who sell capital market products must be honest, trustworthy and transparent. “I believe this is in line with the FIMM’s code of ethics, which stresses how important it is for UTCs to uphold the highest levels of professionalism and ethical conduct,” he said. Awang Adek said the FIMM needs to have the right processes and procedures in place to monitor and supervise the UTCs in order to protect legitimate investments, and prevent illegal activities such as money laundering. In conclusion, he noted the asset management industry’s strong growth for the past 20 years, which saw the assets under management increase 12-fold, reaching RM964.8 billion as of August 2023, up sharply from a modest RM79 billion in 2003. No plan to collect fingerprints for national digital ID programme, says Fahmi Bernama what we are trying to convey to the people. “Fingerprint information and other biometric identifiers are under the [purview of the] Home Ministry and the National Registration Department,” he said in reply to Senator Manolan Mohamad. Prior to this, Fahmi’s ministry had also assured that the NDID would not compromise the security of personal data of the people. It was also said that the initiative had been adopted in several countries, such as Estonia, Singapore, and the United Arab Emirates. On Nov 21, Anwar announced that the government had appointed Mimos, the national research and development centre, as the implementing agency for the NDID programme, with an initial allocation of RM80 million. According to the Malaysian Communications and Multimedia Commission, the NDID facilitates citizens to transact face-to-face, or remotely in the digital realm, with service providers from both the public and private sectors for secure, guaranteed, and time-saving identity verification. SUHAIMI YUSUF/THE EDGE

FRIDAY DECEMBER 1, 2023 3 THEEDGE CEO MORNING BRIEF HOME Progressive wage to cover those earning RM1,500-RM4,999 monthly, MNCs and GLCs exempted BY CHOY NYEN YIAU & CHESTER TAY theedgemalaysia.com Source: Department of Statistics Malaysia Total workers by wage group as at March 2023 Number of workers to receive wage of RM1,500 Number of workers as at March 2023 Wage class (RM) <1,000 1,001-1,200 1,201-1,499 1,500-1,999 2,000-2,499 2,500-2,999 3,000-3,499 3,500-3,999 4,000-4,499 4,500-4,999 5,000-5,499 5,500-5,999 6,000-6,499 6,500-6,999 7,000-7,499 7,500-7,999 8,000-8,499 8,500-8,999 9,000-9,499 9,500-9,999 10,000 - 19,999 20,000 - 29,999 30,000 - 39,999 40,000 - 49,999 >=50,000 200.5 136.9 320.8 1,588.7 775.3 504.3 348.8 285.8 204.6 199.6 136.2 127.4 91.2 88.8 69.7 73.8 50.5 48.4 36.4 358.9 96.9 43.7 23.7 61.6 569.6 578.1 Number of workers (’000) Minimum wage: RM1,500 Median monthly wage for 1Q 2023: RM2,600 Living wage: RM3,047 Poverty line income 2022: RM2,589 KUALA LUMPUR (Nov 30): The government released its Progressive Wage White Paper on Thursday, proposing to implement a pilot project between June and September next year that involves a selected number of companies that register to voluntary participate in it, with full implementation to be determined later. The White Paper proposed that in the first year of implementation, a progressive wage system to involve those earning a monthly salary of between RM1,500 and RM4,999, covering some four million workers in formal sectors, will be limited only to Malaysian citizens. Businesses, especially small and medium enterprises, are encouraged to participate, but multinational and government-linked companies (MNCs and GLCs) are exempted from the project, as they are deemed paying competitive wages already. The White Paper also proposed that the government make an annual allocation for cash incentives to encourage higher reception from the business sector to participate in progressive wages voluntarily. Employees covered under the system will be categorised in two groups, namely entry levels and non-entry levels, and a Progressive Wage Policy Implementation Executive Committee will be established and provide guidelines for annual salary increment. The proposed annual increment — to be based on economic sectors and occupation categories according to the Malaysian Standard Classification of Occupations — will be made available next year, and be reviewed annually. For entry-level posts, participating companies will be eligible to receive cash incentives of up to RM200 monthly for 12 months, while for non-entry-level posts, the incentive rate is proposed to be up to RM300 monthly for 12 months. These cash incentives are proposed to be channelled to participating employers on a quarterly basis, within six months upon claim submissions. The government allocation for cash incentives will be dependent on Putrajaya’s fiscal position, and progressive wage incentives will be paid out based on a firstcome, first-served basis. These cash incentives will be paid out after employers submit documents related to employees’ wages and their participation in skill-upgrading courses. The government will identify and certify the relevant training programmes. Rolling out of the progressive wage system requires cross-ministerial collaboration, and the government will establish two new committees and four new working committees for implementation. Apart from the Progressive Wage Policy Implementation Executive Committee, which will be co-chaired by secretary generals of the Ministry of Economy and Ministry of Human Resources, the government will also establish a special Cabinet committee, chaired by deputy prime minister II. CONTINUES ON PAGE 4 Three scenarios of first-year implementation of Progressive Wage Policy based on economic model Scenario 1 Scenario 2 Scenario 3 Government allocation (annual) RM2 billion RM3.8 billion RM5 billion Number of employees to be benefited 1.05 million 1.97 million 2.62 million Additional real GDP growth 0.22% 0.41% 0.56% (percentage points, ppts) Additional values to real GDP* RM3.3 billion RM6.2 billion RM8.4 billion Increase in share of compensation 0.10% 0.10% 0.20% of employees (CE) to GDP (ppts) Increase to inflation rate (ppts) 0.24% 0.46% 0.61% Increase to productivity (ppts) 0.08% 0.16% 0.20% Additonal EPF contribution RM0.79 billion RM1.49 billion RM1.98 billion Additional income tax revenue to RM1.8 billion RM3.3 billion RM4.4 billion government Increase in number of taxpayers (people) 37,529 70,173 84,719 Reduction in unemployment rate (ppts) -0.14% -0.26% -0.35% Source: Parliament

FRIDAY DECEMBER 1, 2023 4 THEEDGE CEO MORNING BRIEF HOME Galen Centre: Passage of anti-smoking bill leaves bitter taste BY SYAFIQAH SALIM theedgemalaysia.com The special Cabinet committee will determine policy direction and implementation strategy, while the executive committee will ensure execution of these strategies, and make proposals for intervention if necessary. The executive committee will be supported by the four working committees on policy development, system development, skills improvement, and annual wage increment respectively. The White Paper laid out three possible scenarios upon implementation of the progressive wage system, involving an annual government allocation of RM2 billion, RM3.8 billion or RM5 billion. Under these scenarios, the number of wage earners to be benefited is expected to come in at 1.05 million to 2.62 million, adding 0.22 percentage point (ppt) to 0.56 ppt to real gross domestic product growth, followed by additional contributions of RM790 million to RM1.98 billion to the Employees Provident Fund (EPF), and an increase in income tax revenue by RM1.8 billion to RM4.4 billion. However, inflation is expected to increase between 0.24 ppt and 0.61 ppt under these scenarios, as consumption and purchasing power rise, but the White Paper noted that the positive impact of progressive wages will help balance higher prices over the longer-term period. It is expected that the number of taxpayers will increase by between 37,529 and 84,719 people, while the unemployment rate will be reduced by between 0.14 ppt and 0.35 ppt, depending on how much the government can spare to incentivise adoption of progressive wages. During the presentation of the White Paper in the Dewan Rakyat, Economy Minister Mohd Rafizi Ramli said the ministry would prepare salary guidelines to be approved by the Cabinet in the first quarter of 2024. Subsequently, interested companies could register before the pilot project commences in June. “We have decided to start with a pilot project involving 1,000 companies, so that we can fine-tune the weaknesses of this pilot project, before expanding it to the whole sector and involving all employers,” said Rafizi. The minister also explained that the selection of companies would go through a process emphasising policy support, the level of sector needs, and equality. He added that an impact assessment would be conducted to evaluate the effectiveness of the pilot project, and the report would be presented to the Cabinet before full-scale implementation, which is expected to take place after December 2024. FROM PAGE 3 Read also: Progressive Wage pilot project estimated to cost RM20-30m, says Rafizi “Based on a back-of-envelope calculation... assuming an average of 50 employees per company, with an allocation of RM200 per month per employee, totalling RM2,400 annually per employee, for the year 2024, it will cost about RM20 million to RM30 million. It will not be more than RM30 million.” Further study needed on aid, subsidy delivery mechanism — Economy Ministry Among the methods being examined include e-vouchers, e-wallets or channelling cash directly to banks. KUALA LUMPUR (Nov 30): The Galen Centre for Health and Social Policy regrets that recommendations to improve the Control of Smoking Products for Public Health Bill 2023 made by the Parliamentary Special Select Committee (PSSC) on Health were ignored. Its chief executive officer Azrul Mohd Khalib said the PSSC had convened at least 13 meetings on the bill under the chairmanship of former health minister Datuk Seri Dr Dzulkefly Ahmad. “Despite the fact that the bill was deliberately referred to the PSSC by the current health minister back in June with the intention of producing recommendations to improve the proposed legislation, these recommendations were not even heard, much less debated on. The effort was barely recognised and ended up as a one liner during the winding-up speech (on the bill in the Dewan Rakyat). “The earlier referral to the PSSC now appears to have been a feint, deceptive and even disrespectful,” Azrul said in a statement on Thursday. He also noted that the government had failed to address the direct accusations by Members of Parliament on the tobacco and vape industry influence, interference and threats on the policy-making process. “Considering Malaysia’s obligations under the World Health Organization’s Framework Convention on Tobacco Control, it would be a serious violation if any of it were remotely true. The sudden dropping of the devices used for vaping from the proposed legislation and the weak argument supporting it certainly implied this and these concerns warranted a proper response or defence,” he added. The anti-smoking bill, which was proposed in 2022, was finally approved by the Dewan Rakyat earlier on Thursday. The bill was tabled for the third and final reading by Health Minister Dr Zaliha Mustafa. It was unanimously passed via a voice vote, after an intense debate session among the MPs where the majority of them expressed their disappointment over the removal of the generational endgame provision from the bill, the absence of the PSSC on Health’s recommendations and alleged interference by the tobacco and vape industries. Azrul said that despite its shortcomings, the passage of the bill marked the beginning of the end of a decades-long track to ensure that Malaysia finally has a standalone legislation covering tobacco, smoking products and nicotine delivery systems such as vape and e-cigarettes. “It is a major achievement. It will bring our laws and regulations up to speed as they are fast falling behind the challenges posed by evolving technologies and innovation. It forms the foundation of future amendments and regulations,” he said. “The nicotine vape gap will also finally be on its way to being plugged. But similarly to Pandora’s Box, the self-created lacunae has already released serious harm, particularly among children and minors. It will take time to close,” he added. Read also: Dewan Rakyat passes revised tobacco bill via voice vote REUTERS

FRIDAY DECEMBER 1, 2023 5 THEEDGE CEO MORNING BRIEF HOME KUALA LUMPUR (Nov 30): Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar, eldest sister of Johor’s Sultan Ibrahim Sultan Iskandar, has been appointed as non-executive chairman of IT and glove manufacturing company Zen Tech International Bhd. This is the third company that has appointed Tunku Kamariah as its chairman over the past six months. The other two listed entities are AHB Holdings Bhd and SMTrack Bhd. RHB Trustee Bhd is the common shareholder of Zen Tech and AHB Holdings. Her appointment in Zen Tech is effective immediately, following the redesignation of its previous chairman Tan Sri Syed Mohd Yusof Tun Syed Nasir as non-executive deputy chairman, according to the group’s bourse filing. Zen Tech recorded a net loss of RM766,000 for the first financial quarter ended Sept 30, 2023 (1QFY2024), compared with a net loss of RM1.63 million a year earlier, as revenue grew 7.1% to RM9.39 million from RM8.77 million. Zen Tech also reported a net loss for all four quarters in the financial year ended June 30, 2023. Tunku Kamariah was also nominated as chairman as part of a board takeover of financially stressed KNM Group Bhd in October, after German businessman Andreas Heeschen emerged as KNM’s substantial shareholder with a 7.91% stake. Subsequently, Heeschen, who is a major shareholder of German-based firearms manufacturer Heckler & Koch, with the support of eight other KNM shareholders, called for an EGM to remove the entire board of nine directors, including Tunku Datuk Yaacob Khyra, who is the company’s chairman and largest shareholder with a 9.5% indirect stake. However, the group of shareholders only managed to remove two directors, namely Tan Sri Zulhasnan Rafique and Steve Ho Soo Woon, at the EGM. Tunku Yaacob won the majority support of shareholders and remained as chairman. Ho was reappointed to the board within three weeks after being voted out. Johor princess appointed chairman of Zen Tech, third company within the past six months KUALA LUMPUR (Nov 30): YTL Power International Bhd and its parent YTL Corp Bhd are to be included as constituents of the Kuala Lumpur Composite Index (KLCI) under the latest semi-annual review by Bursa Malaysia and FTSE Russell, replacing Dialog Group Bhd and Westports Holdings Bhd. This confirms a report by The Edge earlier this month that the two YTL firms stood a good chance of being included in the 30-stock index based on their market capitalisation. Changes made in the latest review will take effect on Dec 18, and the next review will take place in June 2024, according to a joint statement by Bursa Malaysia and FTSE Russell on Thursday. Following the latest review, the KLCI reserve list, comprising the five highest-ranking non-constituents of the index by market capitalisation, will consist of Dialog, Gamuda Bhd, Inari Amertron Bhd, Malaysia Airports Holdings Bhd, and Westports. The reserve list will be used if one or more constituents are deleted from the KLCI in accordance with the index ground rules during the period up to the next semi-annual review. The latest review also sees the inclusion of nine new companies in the FBM Mid 70 Index, namely Bank Islam Malaysia Bhd, Dialog, DXN Holdings Bhd, Malayan Cement Bhd, OSK Holdings Bhd, Sunway Bhd, UMW Holdings Bhd, WCE Holdings Bhd and Westports. They are replacing Berjaya Food Bhd, Duopharma Biotech Bhd, Hengyuan Refining Company Bhd, Hextar Technologies Solutions Bhd, Hong Leong Capital Bhd, PMB Technology Bhd, SAM Engineering & Equipment (M) Bhd, SKP Resources Bhd and YTL Corp. Another change occurred at the FBM Hijrah Shariah Index, with Greatech Technology Bhd replacing Inari Amertron. YTL Corp and YTL Power replace Dialog and Westports in KLCI CelcomDigi plans to speed up network integration between telcos, says CEO BY CHESTER TAY theedgemalaysia.com Bernama BY EMIR ZAINUL theedgemalaysia.com PETALING JAYA (Nov 30): CelcomDigi Bhd is considering to speed up the merger integration efforts between Celcom and Digi networks, as the company is on track to achieve 30% integration by year end. CelcomDigi chief executive officer Datuk Idham Nawawi said network integration and modernisation had been achieved at more than 4,400 sites as at end-October 2023, which was equivalent to 80% of the company’s plan. “We might integrate more this year than what we planned earlier, which means 30% will be done this year, 40% next year, and the remaining 30% in the third year,” he said after officiating at the launch of CelcomDigi's all-in fifth generation (5G) and 4G postpaid plans on Thursday. However, when asked whether CelcomDigi would set a new target, he said the numbers would not be much different from the initial targets. Previously, CelcomDigi said the merger would see a thorough integration of the networks, and is expected to be completed within the next 24 to 30 months by consolidating the respective 12,000 sites from Celcom and Digi into a single network of 18,000 sites.

friday december 1, 2023 6 The E dge C E O m o rning brief home KUALA LUMPUR (Nov 30): IHH Healthcare Bhd saw its net profit in the third quarter ended September 30, 2023 (3QFY2023) surge more than double to RM532.07 million from RM251.76 million in the same period last year, boosted by growth from higher patient volumes and revenue from higher acuity treatment. As a result, earnings per share climbed to 6.04 sen from 2.78 sen, its Bursa Malaysia filing showed on Thursday. The healthcare group said its quarterly revenue rose by 26.74% to RM5.83 billion compared with RM4.6 billion, underpinned by higher revenue contribution from its hospital and healthcare segment. Meanwhile, for the full nine-month period ended on September 30 (9MFY2023), the group’s net profit increased by 63.24% to RM2.22 billion from RM1.36 billion in the same period last year. Notably, the cumulative net income included a one-off gain from the sale of the International Medical University. Revenue, on the other hand, edged 19.12% higher to RM15.64 billion from RM13.13 billion. On a quarterly basis, IHH’s net profit came in higher from RM301.83 million registered in the immediate preceding quarter (2QFY2023) while revenue increased by 24.84% from RM4.67 billion in 2QFY2023. Commenting on the group’s financial performance, IHH Healthcare CEO, Dr Prem Kumar Nair said its impressive performance in the 3QFY2023 clearly reflects the group’s growth trajectory. “We are dedicated to achieving profitable growth and healthy return-on-equity while upholding our commitment to do right by all our stakeholders.” Shares in IHH Healthcare closed unchanged at RM5.83, giving it a market capitalization of RM51.34 billion. More on corporate earnings: Hong Leong Bank’s 1Q earnings up 5% on better associates’ contribution, impairment reversal Alliance Bank’s 2Q net profit up 17% to RM185 mil, declares dividend of 10.85 sen Datasonic’s 2Q profit drops 27% as revenue dips after surge for passport renewal, pays 0.6 sen dividend IHH 3Q net profit more than doubles as it treats more patients KUALA LUMPUR (Nov 30): CIMB Group Holdings Bhd’s net profit rose 31.3% to RM1.85 billion for the third quarter ended Sep 30, 2023 (3QFY2023) from RM1.41 billion a year earlier. The growth was attributed to strong non-interest income (NOII) improvement, partially offset by weaker net interest income (NII) due to net interest margin (NIM) compression from higher cost of deposits. Quarterly revenue rose marginally by 6.2% to RM5.31 billion from RM4.99 billion last year, the banking group’s filing on the local bourse showed on Thursday. Earnings per share for the quarter stood at 17.32 sen compared with 13.43 sen previously. The banking group did not declare any dividend for this quarter. For the nine-month period ended Sept 30, 2023 (9MFY2023), CIMB’s net profit climbed 27.9% to RM5.27 billion from RM4.11 billion in the previous year’s corresponding period, as revenue grew 6.9% to RM15.64 billion from RM14.62 billion. “The positive performance was driven by sustained operating income growth and lower provisions as the group continues to benefit from its diversified Asean portfolio,” CIMB said of its financial performance for the period. CIMB’s total gross loans growth momentum continued, rising 6.4% year-onyear (y-o-y) to RM431.8 billion underpinned by strong demand across markets and segments, while total deposits grew 8.6% y-o-y to RM490.3 billion despite persistent competition for deposits in all markets. The banking group registered a loan-to-deposit ratio of 88.1% as at Sept 2023 compared with 87.8% in the preceding quarter. Total current account saving account (CASA) balances expanded by 2.1% y-o-y, bringing about a CASA ratio of 39.2% as at Sept 2023. In a separate statement, CIMB group chief executive officer Datuk Abdul Rahman Ahmad said positive growth was also seen in consumer and commercial bankCIMB 3Q net profit rises 31% to RM1.85 bil on stronger non-interest income ing in Malaysia, CIMB Digital Assets, and across the group’s key markets of Indonesia and Singapore. “Notwithstanding the positive performance, we continue to remain cautious given heightened global political risks, coupled with continued elevated interest environment which is likely to lead to a deceleration of global economic growth. “As we approach the final year of the Forward23+ strategic plan, we remain focused on enhancing our CASA and deposit franchise, and growing in our targeted segments whilst continuing to keep a close watch on cost and asset quality,” he said. Abdul Rahman further said that the affluent and wealth management business is among the banking group’s focus segments, with particular emphasis on transaction banking and the regional Asean network business. “We will continue to leverage the growing interest and demand among clients for sustainable and Islamic finance solutions, areas in which CIMB has built a strong track record having pioneered various landmark transactions and innovative offerings over the past few years,” he added. Shares of CIMB were up one sen or 0.18% to close at RM5.65 apiece on Thursday, for a market capitalisation of RM60.26 billion. by Emir Zainul theedgemalaysia.com by Sulhi Khalid theedgemalaysia.com

friday december 1, 2023 7 The E dge C E O m o rning brief home KUALA LUMPUR (Nov 30): Capital A Bhd said it is in the “last stretch” of finalising its Practice Note 17 (PN17) regularisation plan and aims to make a full submission to Bursa Malaysia in “the near future”. “This careful planning ensures that our restructuring reviews and discussions are thorough, and reflect our dedication to long-term stability and strategic adaptability,” it said in a bourse filing on Thursday. Bursa Malaysia had granted Capital A its third extension of time — until Dec 31, 2023, this round — to submit its regularisation plan to the regulatory authorities. The group had triggered the criteria for PN17 in July 2020, after its external auditors EY issued an unqualified audit opinion with material uncertainty relating to going concern in respect of its audited financial statements for FY2019, plus its shareholders’ equity on a consolidated basis was 50% or less of its share capital. Notably, Capital A had announced earlier this month that it plans to float its AirAsia brand royalty business and aircraft leasing unit in the US through a Nasdaq-listed special purpose acquisition company named Aetherium Acquisition Corp (GMFI) as part of its plans to regularise its financials. The group is seeking an indicative valuation of US$1 billion for the listing exercise. Last Wednesday, its sister company AirAsia X Bhd exited PN17 status after its appeal was allowed by Bursa Malaysia. The medium-haul low-cost carrier said the regulator would allow the group’s appeal and exempt it from submitting a regularisation plan if it posted a net profit for the third quarter ended Sept 30, 2023; it reported a net profit of RM5.56 million, down 77.83% compared with RM25.09 million posted for the same period last year due to higher aircraft fuel expenses and maintenance and overhaul costs. While investors on Bursa Malaysia await Capital A’s regularisation plan, the group said it is considering various financing options for its operations in Capital A in ‘last stretch’ on finalising PN17 exit plan KUALA LUMPUR (Nov 30): Capital A Bhd reported a significantly smaller net loss of RM178.82 million for its third quarter ended Sept 30, 2023, down from RM901.31 million in the corresponding quarter last year, as revenue more than doubled on continued improvement in its aviation business. Loss per share for 3QFY2023 dropped to 4.30 sen per share from 22.30 sen per share in 3QFY2022, its bourse filing showed. Group revenue for 3QFY2023 surged to RM4.23 billion from RM1.96 billion in 3QFY2022. The group’s revenue is also a further improvement from the RM3.15 billion topline it recorded for the immediate preceding quarter (2QFY2023), when it made a net profit of RM1.2 billion — largely because of a gain from the consolidation of Asia Aviation Public Company Ltd Group of RM1.37 billion. The group’s aviation segment reported revenue of over RM3.9 billion for 3QFY2023, up 116% compared to last year on surging domestic and international travel. “The strong rebound catapulted revenue to the pre-Covid period with 89% of current capacity and a positive EBITDA margin of 10% against an EBITDA margin of 6% in 3Q2022,” said the group. The group carried 14.71 million passengers in 3QFY2023, more than double the 7.12 million it served a year ago, while Capital A anticipates further revenue upswing after 3Q losses narrow sharply by Isabelle Francis theedgemalaysia.com by Isabelle Francis theedgemalaysia.com capacity was up 99% to 16.49 million seats from 8.29 million a year ago. Meanwhile, its logistics and digital segments reported improved revenue of RM188.86 million and RM121.99 million, respectively, for the quarter under review. For the nine months ended Sept 30, 2023, the group made a net profit of RM996.55 million compared to a net loss of RM2.74 billion a year ago, with revenue more than doubling to RM9.91 billion from RM4.24 billion. “Year to date, the consolidated airlines have now recovered 76% of passenger volume from 9M2019, surpassing overall capacity recovery of 73% for the same period,” said the group. The group is now expecting a further revenue upswing that exceeds the pre-panIndonesia and the Philippines, which could include an imminent initial public offering (IPO) for AirAsia Philippines and further equity raising from AirAsia Indonesia. This comes after the airline business accessed the third instalment of a loan from Bangkok Bank, with the final settlement expected by the end of this quarter. In addition, a US$200 million revenue bond intended for expansion of the aviation business is in progress, said the group. “In the meantime, AirAsia MOVE is nearing the end of its due diligence for an investment by a private equity, and Teleport has recently secured their approved loan to enhance its working capital,” the group said. Capital A chief executive officer Tan Sri Tony Fernandes had previously indicated that the AirAsia Philippines unit is planning an IPO for 2024, revisiting a fundraising strategy that was put on hold multiple times. Read the full story demic levels as it approaches the final quarter of the year, said Bo Lingam, chief executive officer (CEO) of the group’s aviation business under AirAsia Aviation Group, in a separate statement. “This optimistic outlook is based on robust travel demand during the peak season, which enables us to command premium fares and boost ancillary income. We are amplifying our domestic capacity in all markets especially in Malaysia and Thailand, fortifying our market share and taking advantage of lessening competition. “Internationally, aligning with the forecast market’s recovery pace, we are rapidly increasing our growth in China, also encouraged by the much-anticipated announcement of a visa-free travel between China and Malaysia, starting Dec 1, 2023. Another notable strategic move is our accelerated expansion in India, introducing new destinations to deepen market penetration and enhance regional connectivity, whose traffic will also boost following the visa free travel between India and Malaysia. “In parallel, we expect high average fares as the market is still experiencing a shortage of operational aircraft. Combining this with the decreasing fuel price, we expect a profitable end to 2023,” said Bo. Capital A shares shed 2 sen or 2.3% to 87 sen at closing, valuing the group at RM3.67 billion.

friday december 1, 2023 8 The E dge C E O m o rning brief home KUALA LUMPUR (Nov 30): Padini Holdings Bhd’s net profit for the first quarter ended Sept 30, 2023 (1QFY2024) fell 45.4% to RM26.67 million, from RM48.86 million a year earlier, due to a drop in its gross profit margin from 39% to 36%. In a bourse filing on Thursday, the company said that in addition, the drop in profit before tax was also partly attributed to rising staff cost. It said revenue for the quarter rose to RM388.19 million, from RM379.09 million previously, due to an increase in sales volume. Earnings per share slipped to 4.05 sen from 7.43 sen. Padini declared an interim dividend of 2.5 sen per share to be paid on Dec 29. On prospects, Padini said the retail business in general remains challenging, due to the deterioration in purchasing power, arising potentially from rising cost, trade tensions, and rising inflation and interest rates. “However, supply chain issues, material costs and freight charges seem to have stabilised, although there may still be some further increases in the short term,” it said. Padini’s 1Q net profit falls 45% to RM26.7 mil, declares dividend of 2.5 sen KUALA LUMPUR (Nov 30): IJM Corp Bhd’s net profit for the second quarter ended Sept 30, 2023 (2QFY2024) surged over threefold to RM93.69 million from RM27.03 million a year earlier, carried by strong showings from its property development and infrastructure segments. Earnings per share climbed to 2.67 sen from 0.77 sen, according to the group’s bourse filing on Thursday (Nov 30). Touching on the group’s topline, quarterly revenue jumped 36.05% to RM1.46 billion versus RM1.07 billion previously on the back of improvements across all its segments — comprising construction, property development, manufacturing and quarrying, infrastructure, as well as investment and others. IJM declared a first interim dividend of two sen per share, with a Dec 15 ex-date, to be paid on Dec 18. Most notably, IJM’s construction segment posted a 54.9% increase in revenue to RM416.15 million versus RM268.6 million previously, but profit before tax (PBT) dropped 37.3% to RM15.28 million from RM24.36 million previously as ongoing projects’ profit margins were negatively impacted by material and commodity price increase and prolongation cost, while new projects undertaken have yet to reach profit recognition. Despite this, IJM’s property development and infrastructure segments carried the group’s improvement in profitability. The group’s property development segment’s revenue increased 42% to RM463.7 million from RM326.55 million a year earlier on higher level of work progress achieved for ongoing developments as well as sale of two parcels of industrial land in Bandar Rimbayu. The property development segment’s PBT increased 159.7% to RM76.18 million from RM29.33 million previously due IJM’s 2Q net profit surges threefold, declares two sen dividend by Izzul Ikram theedgemalaysia.com by Surin Murugiah & Sulhi Khalid theedgemalaysia.com changes in its boardroom, including the redesignation of its non-executive director, Datuk Lee Say Tshin as its new chairman effective Jan 1, 2024. Meanwhile, two non-independent directors, Lee Peng Khoon and Chia Swee Yuen, will be departing the board from Dec 31, 2023. Both cited personal reasons for their departure. Padini shares closed three sen or 0.79% lower at RM3.75, for a market capitalisation of RM2.47 billion. Year to date, the stock has climbed 37 sen or about 11%. More on corporate earnings: Pestech posts RM79.6 mil quarterly loss on concession rights impairment RGB makes quantum leap with 3Q net profit of RM26.07 mil on sturdy sales Senheng warns of weaker annual earnings as 3Q profit tumbles to lowest since listing Read the full story to the higher revenue and profit margin derived from current portfolio mix of ongoing project and the aforesaid industrial land sale. Meanwhile, the group’s infrastructure segment reported an 11.6% rise in revenue to RM242.36 million from RM217.15 million previously on higher port revenue arising from recovery of cargo throughput and higher ship revenue. The segment swung to a PBT of RM53.75 million versus a loss before tax of RM16.61 million on higher contributions from its port business and lower forex losses. For the six-month period ended Sept 30, 2023 (1HFY2024), IJM’s net profit rose 221.55% to RM194.33 million from RM60.44 million a year earlier, as revenue increased 25.16% to RM2.68 billion versus RM2.14 billion previously. Looking forward, IJM chief executive officer and managing director Lee Chun Fai said that with the improving macroeconomy and pick-up in construction activities, the group is well positioned to drive its growth agenda of growing its existing businesses, developing a portfolio in adjacent businesses and expanding its geographical footprint. “IJM’s balance sheet, with a net gearing of 0.27 times, is expected to bolster the group’s credentials to undertake largescale projects and strategic investments,” he said in a statement on Thursday. the edge “Despite the potential challenges, we are optimistic in performing satisfactorily for the current financial year. Management will continue to provide value for money products and implement measures to control costs, optimise working capital, preserve cash and streamline the operations to minimise any adverse impacts,” it added. Former banker redesignated chairman amid boardroom changes Separately, the group announced a slew of

FRIDAY NOVEMBER 24, 2023 FRIDAY DECEMBER 1, 2023 X95 THEEDGE CEO MORNING BRIEF THEEDGE CEO MORNING BRIEF

friday december 1, 2023 10 The E dge C E O m o rning brief home KUALA LUMPUR (Nov 30): Maxim Global Bhd was queried by Bursa Malaysia on the scant details regarding its “privatisation agreement” to decommission and upgrade several sewerage treatment plants in Cheras. One of Bursa’s six queries revolved around the value of the land that would be transferred to the developer upon completion of the decommissioning and upgrading works, including provision of amenities and utilities done by Maxim’s subsidiary. However, Maxim said in its reply to Bursa that details of the land swap and capital for the project are confidential under the privatisation agreement, pending government approval. “In view of the confidentiality clause in the privatisation agreement, approval of the government is required before the provision of the salient terms and conditions,” said Maxim. To recap, Maxim on Tuesday announced that its 70%-owned indirect subsidiary F3 Cheras Development Sdn Bhd (F3C) has entered into a privatisation agreement with the Ministry of Natural Resources, Environment and Climate Change and government-owned Syarikat Tanah Dan Harta Sdn Bhd for the project. Upon completion of the decommissioning and upgrading, including provision of the necessary amenities and utilities, according to Maxim, Syarikat Tanah Dan Harta will transfer part of the land held under lot 7145, Mukim Cheras, Daerah Wilayah Persekutuan (Asset No. KLR 134) to F3C. Maxim, however, did not reveal the value of the parcel of land that would be transferred in its Bursa filing. The developer told the exchange that construction works of the project are expected to start nine months from the privatisation date (Nov 27), while F3C shall complete the construction works within 36 months. Meanwhile, Maxim said that the project will be funded wholly by the group’s internally generated funds. It also assured that the project would not have any material effect on the group’s consolidated earnings, earnings per share, net assets, gearing, share capital, substantial shareholders or their shareholdings in the company. The privatisation agreement is not subject to the approval of the group’s shareholders as the agreement is below the 25% ratio based on its latest audited financial statement of FYE2022 in accordance with Bursa Securities’ Main Market Listing Requirements. It noted that none of the group’s directors or major shareholders are connected to the privatisation deal, except its deputy chairman Datuk Seri Anuar Adam, who through his son, Almiran Anuar, has a 21% indirect interest in F3C. Maxim shares closed half a sen or 1.23% lower to 40 sen on Thursday, valuing the group at RM290.52 million. Maxim declines to reveal value of sewerage plant job in Cheras, citing confidentiality clause KUALA LUMPUR/SINGAPORE (Nov 30): Sime Darby Bhd, Malaysia’s industrial and automotive conglomerate, is looking to set up a luxury car retail business in India and expand in Indonesia to tap into the growth potential of both economies, its top executive told Reuters. “We cannot ignore India,” group chief executive officer Datuk Jeffri Salim Davidson told Reuters. “It’s just something too big, you cannot ignore. So we’re looking for opportunities in India to see whether we can do something with a local partner and start a car retail business there,” he added. India, the world’s most populous country, is its fifth-largest economy. Jeffri said Sime Darby also plans to expand in Indonesia, Southeast Asia’s largest economy, following a joint venture with a local firm to sell BMW cars in Jakarta and Medan. Sime Darby, which derives 35% of its revenue from China, sees demand for luxury cars there remaining strong despite slowing economic growth. “Chinese people have money, they still buy cars,” Jeffri said. “The problem in China is not the demand problem, it’s a supply problem.” Jeffri said car makers in China ramped up production in the hopes of gaining market share post-pandemic, creating a supply imbalance which prompted manSime Darby seeks to expand car retail business into India, Indonesia, says CEO ufacturers to cut prices, squeezing the profit margins of retail distributors. Sime Darby was founded in 1910 and is one of Malaysia’s oldest conglomerates with businesses spanning plantations to manufacturing. It currently has operations in 17 countries. It spun off its palm oil and property businesses in 2017, and had divested other businesses including Ramsay Sime Darby Health Care which was sold off this month. Sime Darby now focuses on industrial and motor businesses, including assembling Porsche cars in Malaysia and distributing BYD electric vehicles in Malaysia and Singapore. In August, it announced the acquisition of a 61.2% stake in Malaysian automotive-to-manufacturing company UMW Holdings Bhd — which assembles Toyota cars in Malaysia and owns a stake in local car maker Perodua — for RM3.57 billion. Jeffri said the deal will make Sime Darby the biggest automotive player in Malaysia, capturing over 50% of the country’s automotive market. “We very much play largely in the luxury segment,” he said. “By doing this, we suddenly play in the mass market... so suddenly, we’re all the way through the value chain.” by Rozanna Latiff & Yantoultra Ngui Reuters by Anis Hazim theedgemalaysia.com Sime Darby group CEO Datuk Jeffri Salim Davidson: We cannot ignore India. reuters

friday december 1, 2023 11 The E dge C E O m o rning brief home Latest glove counters’ rally loses steam amid profit-taking by Justin Lim theedgemalaysia.com KUALA LUMPUR (Nov 30): Buying interest in glove counters, which saw a resurgence this month as investors took their cues from the spike in local Covid-19 cases and an upsurge in respiratory illnesses in China — besides notable improvements in some glove makers’ bottomline — appears to be tapering off. The rally that started early this month pushed up glove counters’ shares, with all of the big four players — Supermax Corp Bhd, Top Glove Corp Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhd — ending November at higher prices compared with end-October. Gains in the glove counters helped push Bursa Malaysia’s Healthcare Index higher. The index jumped to a six-month high of 1,867.02 last Thursday, before easing to 1780.63 at market close on Thursday. It gained 6.63% or 110.76 points in November, against end-October’s 1,669.87. Coinciding with some improved financial results from some of the major glove makers during this corporate reporting season, the Health Ministry announced last week that the country had recorded 2,305 Covid-positive cases between Nov 12 and Nov 18, up 28% from the 1,801 cases logged between Nov 5 and Nov 11. On the same day, the World Health Organisation reported an upsurge in respiratory illness among children in Northern China, saying it has been monitoring the incidents since mid-October. But market observers believe the glove rally has petered out, as investors take profit after November’s run. “With the glove industry bottoming out, all glove stocks have rebounded, triggered by the less negative outlook. Share prices have surged 20% to 30% in the past one month, hence it is healthy to have a correction as nothing goes up forever,” TA Investment Management Bhd chief investment officer Choo Swee Kee told The Edge, saying share price should reflect stocks fundamentals. Apex Securities Bhd’s research head Kenneth Leong said glove share prices were coming down as they rallied beyond their fundamentals, and is expecting a further pullback in the near term. “It’s the same case for Supermax today,” Leong said, noting the stock was being sold down after the release of the company’s quarterly results. Supermax dipped 10 sen or 10.19% to close at 92 sen on Thursday. “The current share price is also deemed to be fair as it is around the consensus target price levels,” he said. The ongoing pullback may, however, present a buying opportunity for those investing with a longer-term perspective, Leong said. For now, glove stocks are expected to be range bound, said Rakuten Trade Sdn Bhd’s equity research vice president Thong Pak Leng, who likewise think the recent pull back in glove shares was due to profit-taking activities and an overbought situation. Top Glove, the world’s largest glove manufacturer, saw its shares price slide to 81 sen on Thursday, from its highest this month of 90 sen on Nov 24. Compared to its October closing of 73 sen, the stock has gained 10.95% month on month (m-o-m). Hartalega, which snapped a loss-making streak that dogged its last three consecutive quarters when it announced a net profit of RM27.7 million for the second quarter ended Sept 30, 2023 (2QFY2024), saw its share price jump to as high as RM2.62 on Nov 23 — up 26.57% from end-October’s RM2.07. The *rebasing of stock price to 100 Source: Bloomberg YTD comparison of four glove stocks Top Glove Hartalega Supermax Kossan Dec 30, 2022 Nov 30, 2023 50 90 130 170 89.503 141.176 110.726 149.767 100 100 100 100 stock pared some gains to close at RM2.40 on Thursday, still up 15.94% m-o-m. Kossan’s shares, which also touched its highest this month at RM1.75 on Nov 23, closed at RM1.61 on Thursday for a gain of 19.3% from end-October’s RM1.35. Like Hartalega, Kossan too managed to reverse its three consecutive loss-making quarters by posting a net profit of RM40.97 million for its July-Sept quarter. Its quarterly profit is also up 76.14% from the RM23.26 million it made in the corresponding quarter a year ago, thanks to better cost controls and lower raw material costs, as well as the sale of higher margin infrastructure products at its technical rubber products division. Supermax, on the other hand, saw its share price slide below RM1 on Thursday after announcing a day earlier its fourth consecutive quarter in the red. But the stock, which closed at 92.5 sen — down from its highest this year of RM1.05 on Nov 28 — still gained 17.1% from its end-October price of 79 sen. Top Glove Corp Bhd 0 200 400 600 Dec 30, 2022 Nov 30, 2023 0.6 0.9 1.2 1.5 Vol (mil) RM/sen 81 sen 90.5 sen Source: Bloomberg Supermax Corp Bhd 0 20 40 60 80 Dec 30, 2022 Nov 30, 2023 0.6 0.8 1.0 1.2 Vol (mil) RM/sen 83.5 sen 92.5 sen Source: Bloomberg

FRIDAY DECEMBER 1, 2023 12 THEEDGE CEO MORNING BRIEF HOME KUALA LUMPUR (Nov 30): Bursa Malaysia Securities Bhd has proposed amendments to the Main Market and ACE Market Listing Requirements (LR) to, among others, boost the transparency on fund-raising exercises involving new securities issuance. The exchange on Thursday issued a consultation paper seeking public feedback on these proposed amendments to the LR in relation to new issue of securities and other areas. In a statement, it said the key proposed amendments include: (a) enhancing transparency on fund-raising exercises involving new issue of securities through enhanced disclosures in relation to placement exercises, status of utilisation of proceeds raised and past equity fund-raising exercises where the proceeds raised have yet to be fully utilised; (b) enhancing the employee share scheme framework by subjecting a share grant scheme to the same restriction on the total number of shares issued under a share issuance scheme, and enhancing transparency pertaining to the options or shares granted under an employee share scheme based on categories of participants; (c) requiring disclosure of a chief executive officer’s remuneration on a named basis for listed corporations, closed-end funds and business trusts; (d) allowing a financially distressed listed issuer or a listed issuer with inadequate level of operations to undertake interim corporate proposals pending regularisation of its condition only in exceptional circumstances; and (e) requiring adherence to chain listing requirements if a listed issuer wishes to list its subsidiaries on any stock exchange. “The proposed amendments are part of the exchange’s continuous efforts to ensure that the LR remain fit for purpose in line with the rapidly evolving capital market while promoting greater transparency in the marketplace. “The exchange welcomes views and feedback from the public on the proposed amendments above,” said Bursa Malaysia. For full details of the consultation paper and the proposed amendments, refer to the Bursa Malaysia website at: https:// www.bursamalaysia.com/regulation/ public_consultation. Interested parties are invited to submit their comments and feedback by Jan 26, 2024, according to the statement. Bursa Malaysia proposes Listing Requirements amendments to boost fund-raising transparency KUALA LUMPUR (Nov 30): The High Court has set Jan 16 to decide on the Malaysia Competitions Commission’s (MyCC) bid to obtain permission for a judicial review of the Competition Appeal Tribunal (CAT)’s Sept 2, 2022 decision. High Court judge Datuk Ahmad Kamal Md Shahid set the date after hearing submissions from lawyers on the matter via Zoom on Thursday. In December 2022, MyCC filed the application at the High Court to obtain permission to initiate a judicial review of CAT’s decision to allow an appeal by Persatuan Insurans Am Malaysia (Piam) and its 22 members against the commission’s decision in 2020. The commission had deemed that an agreement on the application of trade discounts on automotive parts prices and hourly labour rates for motor vehicle repairs done under the PIAM Approved Repairers Scheme (PARS) as a breach of the Competition Act 2010. In its application, MyCC sought to quash CAT’s decision and reinstate MyCC’s original decision made three years ago. In the proceedings via Zoom on Thursday, lawyers representing the respondents — consisting of Piam and the 22 insurance companies — have contended that the application was frivolous, vexatious and an abuse of the court process. Lawyer Anand Raj, who was representing some of the 22 insurance companies, submitted to Ahmad Kamal that the leave (permission) to commence a judicial review should not stand for the above reasons. He also cited MyCC’s recent failure to get the Federal Court to review its previous decision to give the regulatory Court to decide in Jan whether to let MyCC challenge tribunal’s decision to allow insurers’ appeal body leave to pursue its appeal to reinstate RM10 million in fines imposed on Malaysian Airlines and AirAsia Bhd for breaching a market-sharing prohibition earlier this month. MyCC was seeking leave to appeal a decision by the Court of Appeal on April 26, 2021, which quashed the fine that was imposed on the air carriers by the commission in 2014 after both airlines were found to have breached the market sharing prohibition under Section 4(2) of the Competition Act by entering into an agreement on sharing markets in the air transport services sector within Malaysia. Anand said the leave to commence the judicial review is a third bite at the cherry for MyCC, which failed in the AirAsia and Malaysia Airlines case. Datuk V Sithambaram, who was submitting for MyCC on why leave should be granted to commence a judicial review, said CAT had acted irrationally, unreasonably and illegally, and leave should be granted to MyCC to further ventilate such issues. Sithambaram also said that denying the commission’s application on the basis of the AirAsia and Malaysia Airlines case will stifle the development of competition law. Sithambaram was assisted by Kwan Will Sen. BY TIMOTHY ACHARIAM theedgemalaysia.com Bernama

FRIDAY DECEMBER 1, 2023 13 THEEDGE CEO MORNING BRIEF HOME Analysts stay positive on Public Bank, but warns seasonal rush for deposits may limit NIM recovery KUALA LUMPUR (Nov 30): Analysts maintained their “positive” stances on Public Bank Bhd despite diverse reactions to its earnings for the nine-month period ended Sept 30, 2023 (9MFY2023). Kenanga Investment Bank Bhd said the bank’s 9MFY2023 net profit, which expanded 14.25% to RM5.03 billion from RM4.4 billion a year earlier, is within the research house’s expectations, making up 74% of Kenanga’s full-year forecast and 75% of consensus full-year estimate. “Post results, our FY2023F/FY2024F [ending Dec 31] earnings undergo minor tweaks (-1%/+1%) following 3QFY2023’s inputs,” said the research house in a note. It maintained its “outperform” call and kept its target price (TP) at RM4.75. Public Bank had indicated that net interest margins (NIMs) should not decline by more than 20 basis points from FY2022, where it stood at 2.39%, supported by a rebound in deposit rates, contributing to improved banking operations. However, the seasonal rush to capture deposits in the fourth quarter may limit the upside towards the bank’s NIM recovery, said Kenanga Research. The bank is anticipated to reach its loans growth target of 4%-5% for FY2023, supported by its robust presence in the mortgage sector, although the growth may be somewhat tempered compared to FY2022 due to the prevailing higher interest rate environment, said Kenanga Research. “At the meantime, appetite remains stable for hire purchases and SME (small and medium enterprise) accounts. That said, the group emphasised on only acquiring quality assets as to not compromise its books. “Public Bank is expected to continue commanding the leading GIL (gross impaired loan) ratio amongst peers (0.4% versus peers’ average of 1.7%) which could be attributable to its densely collateralised housing loan portfolio. While the stock may not have the highest dividend yield, the possibility for a more than biannual dividend payment could be of interest to certain investors,” said Kenanga. The 9MFY2023 earnings also met 74% of Hong Leong Investment Bank (HLIB) Research’s full-year estimates. The research house anticipated that the bank’s NIM will remain relatively stable in the next quarter, based on the assessment that competition in fixed deposit rates is still fairly mild. “Loans growth is seen to chug along for now. Separately, we expect asset quality to be resilient given its prudent and conservative credit origination practices. Furthermore, its domestic delinquency rate of 1.5% is trending below pre-pandemic level of >3%,” said HLIB. “Even if GIL ratio were to spike in the short term (due to macro headwinds and tight monetary policy), we are not overly concerned as 94% of Public Bank’s loans are collateralised and LLC (loan loss coverage) is now at 187% versus pre-pandemic level of 120%,” said the research house, which maintained its “buy” call and TP of RM4.80 on the stock. HLIB also made no change to its earnings forecasts. MIDF Investment Bank Bhd, on the other hand, said Public Bank’s 9MFY2023 core net profit of RM3.33 billion fell short of the research house’s full-year forecasts by 47%. To reflect lower fee income growth, MIDF trimmed its earnings forecasts by 3% for FY2023, 1% for FY2024 and 1% for FY2025. MIDF kept its “buy” call, but with a lower TP of RM4.68, from RM4.76. “The TP is based on a revised FY2024F P/BV [price-to-book value] of 1.58x (previously 1.59x), to reflect altered earnings prospects and ROE [return-on equity] based valuations.” “Public Bank has been gradually increasing its payout from 50% to ~52% as of late. Management has confirmed that such increases are sustainable, and the group will continue increasing the payout gradually,” MIDF added. At the time of writing on Thursday, Public Bank shares were trading up three sen or 0.71% at RM4.27, giving it a market value of RM82.69 billion. Analysts’ recommendations and target prices for Public Bank Firm Recommendation Target price (RM) CGS-CIMB Add 5.25 UOB Kay Hian Buy 5.10 Maybank Investment Bank Buy 5.05 Affin Hwang Investment Bank Buy 5.00 Nomura Buy 5.00 CLSA Buy 5.00 Citi Buy 5.00 Macquarie Outperform 4.90 Hong Leong Investment Bank Buy 4.80 Kenanga Investment Bank Outperform 4.75 MIDF Investment Bank Buy 4.68 AmInvestment Bank Hold 4.60 KAF Equities Buy 4.50 TA Securities Holdings Hold 4.50 RHB Research Neutral 4.40 Data compiled on Nov 30, 2023 Source: Bloomberg BY SYAFIQAH SALIM theedgemalaysia.com More from brokers: Analysts lower TP for Axiata on wider 3Q loss, frontier market risks Analysts upbeat on QL Resources after record profit MIDF Research keeps Leong Hup on ‘buy’ but trims TP to 90 sen TA Securities upgrades MAHB to ‘hold’, raises TP amid strong recovery prospects

friday december 1, 2023 14 The E dge C E O m o rning brief home news In brie f RHB Bank appoints Phuah Shok Cheng as acting CFO KUALA LUMPUR (Nov 30): RHB Bank Bhd has appointed Phuah Shok Cheng to serve as acting group chief financial officer (CFO) upon the expiry of current CFO Nik Rizal Kamil Nik Ibrahim Kamil’s contract on Dec 31. She will serve as CFO “in the interim whilst the sourcing and assessment process for the group CFO role is in progress to ensure continuity of the office and accordingly a smooth transition”, said RHB in a bourse filing on Thursday. Phuah, 46, has been the bank’s head of group capital and balance sheet management since May 2014. Nik Rizal, 51, the former Khazanah Nasional Bhd executive director, was appointed as RHB’s CFO in February 2021, taking over from Syed Ahmad Taufik Albar. RHB’s net profit for the third quarter ended Sept 30, 2023 slipped to RM649.95 million, from RM695.41 million a year ago, mainly due to lower net fund-based income. Net interest income dropped 17% to RM915.61 million from RM1.10 billion. Shares in RHB finished down four sen or 0.73% to RM5.45 on Thursday, giving it a market capitalisation of RM23.36 billion. — by Anis Hazim Serba Dinamik misses deadline to submit quarterly report for the fourth time KUALA LUMPUR (Nov 30): Serba Dinamik Holdings Bhd said it was unable to release its financial report for its first quarter ended Sept 30, 2023 (1QFY2024) by Nov 30 as required under listing requirements. The troubled oil and gas company did not clarify why it was unable to meet the deadline, but said in a filing with Bursa Malaysia on Thursday that it expects to submit the quarterly report by Dec 7. This is the fourth consecutive quarter that Serba Dinamik has delayed issuing its financial report within the prescribed time. The company has been in the red for the last eight quarters. The group also failed to issue its annual report for FY2023 by the Oct 31 deadline, and has yet to issue the annual report to date. Its request to extend the deadline for this till Jan 15, 2024 was rejected by Bursa Malaysia. For this reason, Serba Dinamik’s shares have been suspended from trading on Bursa Malaysia until further notice. Its securities were first suspended on Jan 18, 2023. Serba Dinamik fell into PN17 status on Jan 6 last year, after its external auditor Nexia SSY PLT expressed a disclaimer of opinion on its audited financial statements for the 18-month financial period ended June 30, 2021. In April 2020, the Securities Commission Malaysia compounded Serba Dinamik, its managing director and CEO Datuk Mohd Abdul Karim Abdullah, as well as three other top executives a total of RM16 million in relation with the submission of a false statement involving revenue of RM6.01 billion for FY2020, which was previously red-flagged by the company’s external auditor, KPMG. In August 2023, Serba Dinamik said it had submitted an appeal to Bursa Malaysia over the bourse’s decision to delist the company on Aug 28 for its failure to submit a financial regularisation plan within the allotted time frame. No update on its delisting has been announced since then. — by Emir Zainul GXBank now open to public K UALA LUMPUR (Nov 30): Grab-led GX Bank Bhd (GXBank) has officially launched its digital bank to Malaysians, making it the first of the five Bank Negara Malaysia licensees to do so. The digital bank had previously gone through a beta-testing phase with 20,000 Malaysian users following an internal testing with its employees and partners. Since its commencement in September 2023, the company has tested the app with beta testers, with almost 50% having created “Pockets” — the app’s savings goal feature. Emergencies, holidays and investments are the top three reasons customers were saving for. Following months of testing among GXBank’s internal staff, shareholders, partners and selected Malaysians, GXBank chief executive officer Pei Si Lai is optimistic about expanding the app to the rest of Malaysia. An additional feature that the digital bank is From left: GXS chairman Hsieh Fu Hua, Finance Ministry Secretary General of Treasury Datuk Johan Mahmood Merican, GXBank CEO Lai Pei Si and GXBank board of directors chairperson Datuk Zaiton Mohd Hassan looking to roll out is the GX Card, developed in collaboration with Mastercard. This debit card provides several benefits, including unlimited 1% cashback on all transactions with no fees on foreign transactions. Cardholders also get a RM1 fee waiver when used at over 10,000+ MEPS ATMs nationwide and 1.5x GrabRewards points when users spend at Jaya Grocer. GXBank is licensed by Bank Negara and all deposits are protected by Perbadanan Insurans Deposit Malaysia (PDIM) up to RM250,000 for each depositor, which is in line with regulatory standards. — by Ravinyaa Ravimalar Ex-CEO fined RM30,000, jailed a day for cheating BUTTERWORTH (Nov 30): A former chief executive officer of an information technology company was fined RM30,000 and sentenced to one day in jail by the Sessions Court here on Thursday after pleading guilty to three charges of cheating related to safety equipment supply works in 2016, involving payments totaling RM115,000. Judge Zulhazmi Abdullah also ordered the accused, Aziedy Abd Talib, 42, to serve a five-month prison term if he failed to pay the fine. According to the first and second charges, the accused was alleged to have deceived employees of Mutiara.Com Sdn Bhd to induce payments of RM50,000 and RM25,000 for the supply of closedcircuit television (CCTV) recording equipment and intercom installation for the Seri Bayu apartment project in the southwest district. For the third charge, Aziedy was accused of deceiving the same employees to induce a payment of RM40,000 for the “Kaspersky Antivirus License Renewal Consultation Service,” which the accused knew to be false. All these offences were committed between March and October 2016. The accused was charged under Section 417 of the Penal Code for all the offences, which provides for a maximum penalty of five years’ imprisonment or a fine or both. — Bernama

FRIDAY DECEMBER 1, 2023 15 THEEDGE CEO MORNING BRIEF WINNERS WILL BE JUDGED ON THE MERITS OF EACH CALL, NOT BY THE NUMBER OF PEOPLE WHO VOTED FOR IT BEST CALL AWARDS 2023 NOMINATIONS ARE NOW OPEN! The Edge is proud to bring back its annual Best Call Awards to recognise good fundamental stock analysis and its importance in making investment decisions. The 18th edition of the awards is open for nominations from the general investing public, readers of The Edge, fund managers, private investors, heads of research and equity analysts on what they think is the best “buy” or “sell” recommendation for 2023, and why. Nominations can also be for a good research report on Bursa Malaysia-listed companies, from which you learnt something, as well as a contrarian “buy” or “hold” recommendation that proved correct when everyone else was saying “sell”. Please include the following details in your nomination: • The “buy”, “sell” or contrarian “hold” call; • Why the call was great and if you made money from following it; • The analyst and/or brokerage house that made the call; • When the call was made (the date of the research report and the report, if any); • Your name and contact number (yes, you can submit your own great call too!). Please send your nominations to [email protected] by 7pm on Friday, Dec 1, 2023.

FRIDAY DECEMBER 1, 2023 16 THEEDGE CEO MORNING BRIEF HOME KUALA LUMPUR (Nov 30): The data collected through the MyJalan application will serve as master data for analysing and repairing damaged roads in the country, said Works Minister Datuk Seri Alexander Nanta Linggi. He said that the data can be used by the Works Ministry, state governments, and local authorities to assist in the formulation of plans, particularly when seeking an allocation from the Ministry of Finance for road maintenance. “As of this morning (Thursday), the ministry had received a total of 5,000 complaints via the MyJalan app since it was launched, and these complaints will be used not only to carry out road repair work, but also to collect road-related data. “We have also analysed the complaints. Only 27% of the 5,000 complaints received involved federal roads, which fall under the purview of the Works Ministry. Fahmi: Social media platform providers to be summoned over inappropriate ads Complaints received via MyJalan app to serve as master data for road repairs, says Nanta KUALA LUMPUR (Nov 30): The government plans to introduce a special law to improve and enhance disaster management preparedness in the country, the Dewan Rakyat was told on Thursday. Minister in the Prime Minister’s Department (Sabah, Sarawak Affairs and Special Functions) Datuk Armizan Mohd Ali said the government is also drafting the National Disaster Risk Reduction (DRR) Policy. He said these efforts were being made, considering the country is always faced with the threat of natural disasters such as floods during the Northeast Monsoon season. “The government is considering formulating a special law to enhance our preparedness in facing disasters and as soon as the policy is approved by the Cabinet, we will hold various engagement sessions. “Soon after the Prime Minister (Datuk Seri Anwar Ibrahim) announced (matters related to disaster management) in the Mid-Term Review of the 12th Malaysia Plan last year, the first thing carried was to review the National Security Council Directives, and we are also in the process of formulating a DRR Policy,” he said during the Minister’s Question Time in Dewan Rakyat. He was responding to a question from Datuk Siti Zailah Mohd Yusoff (PN-Rantau Panjang) regarding the government’s plans to ensure the preparedness of all agencies to manage the increasingly complex and diverse natural disasters and the details on the construction of the Permanent Disaster Evacuation Centres (PPKB). According to Armizan, the disaster management model practised in Malaysia is based on the best practices of other countries, which is management by a centralised agency. Referring to the United Nations Office for Disaster Risk Reduction (UNDRR), he said there were 144 countries that use the same practice, but each with its own law and coordinated through one centralised agency, which is the National Disaster Management Agency (Nadma). But, there is still a lot to be done to improve disaster management, he added. Regarding the PPKB, Armizan said the pre-implementation process of the project, Govt plans to introduce special law for disaster management Bernama Bernama Bernama “The rest are roads under the supervision of the state governments and local authorities,” he said when appearing as a guest on RTM’s Selamat Pagi Malaysia programme, in conjunction with the one-year administration of the Madani government on Thursday. The MyJalan campaign, launched by Prime Minister Datuk Seri Anwar Ibrahim in August, is an initiative by the Works Ministry to provide road users with an additional avenue to make complaints related to road damage. Meanwhile, Nanta said that the adoption of the Open Payment Toll Collection System (SPT) had provided the public with a variety of options to pay for tolls. “Upon assuming office, I expedited and stepped up my efforts [towards implementation of the SPT]...now there are several tolls that offer this service. “It is important, because there have been complaints from road users, and the congestion at the toll plazas occurred, because we focused on only one method — either Touch ‘n Go or RFID,” he added. which included the preparation of specifications and building design, had started with the Public Works Department (JKR) as the implementing agency. The government expects the procurement process to be finalised in the first quarter of next year, to ensure the project can be completed fast, he added. Prior to this, the government announced that the PPKB would be built in nine states, among them at Sekolah Kebangsaan (SK) Gual Tinggi, Pasir Mas, in Kelantan; SK Seri Medan, Batu Pahat, in Johor; SK Benta, Kuala Lipis, in Pahang; SK Banggol Peradong, in Terengganu; and SK Perwira, Teluk Intan in Perak. KUALA LUMPUR (Nov 30): The Ministry of Communications and Digital will summon several social media platform providers to discuss issues related to inappropriate advertising content on their platforms. Minister Fahmi Fadzil said the discussion aims at getting clarifications concerning inappropriate and offensive advertisements, such as those with sexual content, which should not be displayed in the country. “Typically, the advertisements presented to us are based on what the algorithm thinks we like to watch. For example, if we enjoy watching cars, then more car-related ads are presented to us. So, I understand this issue. “Yes, various social media platforms have their own algorithms, and that’s why the issue of algorithms is quite problematic, and can result in a kind of tunnel syndrome or echo chamber.” Fahmi said this in reply to Senator Hussin Ismail, who wanted to know the government’s efforts in restricting inappropriate advertisements on social media, during the Dewan Negara sitting on Thursday. On another development, Fahmi said between Oct 1 and Nov 15, a total of 147 hate speeches or content with elements of hatred related to the Palestinian-Israeli conflict were taken down in collaboration with social media platform providers. CONTINUES ON PAGE 17

FRIDAY DECEMBER 1, 2023 17 THEEDGE CEO MORNING BRIEF HOME KUALA LUMPUR (Nov 30): The number of job vacancies advertised online surged 23.5% in the second quarter of 2023 (2Q2023) to record 261,231 vacancies from 211,509 vacancies recorded in the first quarter (1Q2023), chief statistician Datuk Seri Dr Mohd Uzir Mahidin said. According to the Big Data Analytics Job Market Insights and My Job Profile: Job Vacancies Advertised Online in Malaysia released by the Department of Statistics Malaysia (DOSM) on Thursday, during 2Q2023, there were 70,571 establishments which offered job vacancies, a notable increase from 55,006 establishments reported in the preceding quarter. “In the meantime, job vacancies registered a year-on-year increase of 29.3% in 2Q2023, compared to a 32.9% annual rise in 1Q2023. “Further disaggregation by month, most of the advertisements were posted in May 2023 with 109,262 vacancies. Additionally, there were 103,826 and 48,143 vacancies in June and April 2023, respectively,” he said in a statement here. In terms of the distribution of job vacancies by occupation category, professionals acJob vacancies advertised online surged 23.5% in 2Q2023 CHUKAI (Nov 30): The Kemaman by-election is crucial to ensure the continued strength of the unity government, and its ability to carry out various efforts to safeguard the welfare of the people, said Prime Minister Datuk Seri Anwar Ibrahim. “That’s why I came here today (Wednesday), because I want the people of Kemaman to give a clear signal. What else do we want? Faced with the US, we are willing; educational programmes, we are willing. “Bringing about change? We invite Umno, Barisan Nasional (BN), Pakatan Harapan (PH), PKR, DAP, Amanah, Gabungan Parti Sarawak, and Gabungan Rakyat Sabah; we try to resolve it,” he said at the Kemaman by-election Mega Perpaduan Madani ceramah in Geliga here on Wednesday night. Anwar urged the Kemaman electorate to vote for BN candidate General (Rtd) Tan Sri Raja Mohamed Affandi Raja Mohamed Noor, whom he said had contributed significantly to the country, in the polls on Saturday. He said Raja Mohamed Affandi, the former chief of defence forces, is no ordinary candidate, having overcome various challenges before being appointed to the highest position in the Malaysian Armed Forces. “To be promoted as the chief of defence forces, he needed approval from the defence minister and then the prime minister, and finally the consent of the Yang di-Pertuan Agong on behalf of the Malay rulers, and his record as the armed forces chief was good, with no flaws. “The people of Kemaman should at least remember the service of someone who safeguarded and defended every inch of this blessed land,” he said. Kemaman by-election on Saturday crucial to ensure unity govt’s strength, says Anwar The PH chairman also gave the assurance that Raja Mohamed Affandi, if elected, would not be merely taking on the role of a Member of Parliament. “With his position, I believe that if he becomes an MP, he would not want to be just an ordinary elected representative. We need to assign tasks to ensure good relations with the government and the prime minister, so make sure that the BN candidate wins,” he said. Anwar also expressed his gratitude to BN, especially Umno, which he said strengthened the formation of the unity government in the first year of joint administration. “Today marks one year of the unity government, and [among] those who helped establish the unity government are BN and Umno, because the leaders of Umno, such as [Datuk Seri Dr Ahmad] Zahid Hamidi, are not ordinary people. They dared to make decisions and were consistent with those decisions,” Anwar said. The by-election on Saturday will see Raja Mohamed Affandi facing Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar, representing PAS, in a straight fight. Bernama Bernama counted for the largest share during 2Q2023 with 48.1% or 125,625 vacancies, followed by technicians and associate professionals (18.3%), managers (15.1%), and service and sales workers (6.9%), he said. “The most in-demand jobs during the quarter were advertising and marketing professionals (20,846), managing directors and chief executives (12,703), administrative associate professionals (12,284), accountants and auditors (10,781) and software developers (7,779),” he said. As for job vacancies by economic sector, Mohd Uzir said services formed the largest percentage share of job vacancies advertised online at 59.0%, by registering a total of 154,134 vacancies in 2Q2023. “All economic activities recorded addition in the number of job vacancies in 2Q2023 except for arts, entertainment and recreation; mining and quarrying; other service activities; electricity, gas, steam and air conditioning supply; and water supply; sewerage, waste management and remediation activities,” he said. In the meantime, Mohd Uzir said it was also observed that wholesale and retail trade dominated the vacancies with 18.2% or 47,597 jobs, while manufacturing recorded a total of 27,429 vacancies (10.5%), followed by professional, scientific and technical activities at 18,667 vacancies (7.1%), and financial and insurance/takaful activities with 18,665 vacancies (7.1%). Read the full story He said this action would continue to preserve the security and harmony of the multicultural and multi-religious society in Malaysia. “In addressing and curbing radical and extremist content, the Malaysian Communications and Multimedia Commission has also sought cooperation from international social media platform providers. “This is to ensure that content with elements of hatred related to the Palestinian-Israeli conflict can be better addressed,” he said in reply to Senator Noorita Sual, who asked about the government’s steps in curbing radical and extremist content, especially regarding the conflict in Gaza on social media. At the same time, Fahmi said efforts to instil values of peace across the country are actively carried out through mass media, based on the Code of Content that provides clear guidelines regarding content standards, in line with the Communications and Multimedia Act 1998 (Act 588). He said the Malaysian Broadcasting Department (RTM) and the Malaysian National News Agency (Bernama), as the government’s official media outlets, always strive to disseminate balanced and objective news. These efforts would help avoid the spread of extreme views, hatred, and panic among the public, in line with the current government direction and policy, without compromising diplomatic relations with any country. FROM PAGE 16

FRIDAY DECEMBER 1, 2023 18 THEEDGE CEO MORNING BRIEF HOME KUALA LUMPUR (Nov 30): Dissatisfaction over a government decision alone is not the basis to take the government to court, the High Court here remarked on Thursday. Judicial Commissioner (JC) Roz Mawar Rozain observed this while presiding over the defendants’ application to strike out the suit by Mohd Hatta Sanuri against former prime ministers Tun Dr Mahathir Mohamad and Tan Sri Muhyiddin Yassin, and several others over the Kuala Lumpur-Singapore high-speed rail (KL-SG HSR)’s cancellation two years ago. Besides the two ex-PMs, in his suit filed last December, Mohd Hatta also named former minister in the Prime Minister’s Department in charge of economy Datuk Seri Mustapha Mohamed, former transport minister Datuk Seri Wee Ka Siong, and the government as defendants for alleged negligence and misconduct over the suspension and cancellation of the KL-SG HSR project. The defendants had filed an application to strike out the suit on the grounds of public policy decisions made by the Cabinet being a non-justiciable matter in any court, and that Mohd Hatta has no legal right (locus standi) to initiate the suit. Roz Mawar on Thursday noted that Mohd Hatta’s statement of claim (SOC) lacked particulars to support his assertion that there was an abuse of power or misfeasance in public office by the defendants, in deciding to suspend and terminate the project. “You must show that there is an abuse of power in office, in coming to the decision. It is not a matter of whether we like the decision but where are the particulars of the abuse,” she asked the plaintiff’s counsel Mohaji Selamat. Throughout the almost two-hour long submissions, Roz Mawar kept reverting to this question on why Mohaji’s client contended that the decision to not see the project through was wrong, and the facts to show misfeasance in public office. In response, Mohaji highlighted that economists had said that the project would be beneficial for the country and that the government had incurred a loss, as it had to pay the Singapore government for the project’s developments and cost related to its delay. BY TARANI PALANI theedgemalaysia.com KL-SG high-speed rail suit: ‘Mere dissatisfaction over govt decision alone not basis for legal action’ Mohaji also said the government had failed to explain the termination of the project in 2021, leading to public confusion. Roz Mawar then asked if mere public confusion over a decision was a cause for legal action. Decision on striking out suit on Dec 15 During submissions on Thursday, senior federal counsel (SFC) Donald Joseph Franklin submitted that, non-judiciable matters which are not open for adjudication in court also include the government’s reasons to suspend and terminate the project. In his suit, Mohd Hatta, a lawyer by profession, was also seeking for the 350-kilometre railway line — which would reduce travel time between the neighbouring countries to 90 minutes — be revived and the defendants be ordered to pay RM1 million compensation to each Malaysian. However, Franklin said that the plaintiff had also failed to show that any Malaysian had authorised him to act on their behalf in this matter. Franklin also argued that Mohd Hatta’s SOC did not adhere to the requirements as per the law, as among others, it contained irrelevant allegations of facts, personal opinion and hearsay of matters he had no knowledge of. In response, Mohaji said that the losses incurred by the government would not have happened if not for the project’s delay and termination. He alleged that these were taxpayers’ monies and as a citizen of Malaysia, his client was entitled to claim for a loss which he had suffered. Mohaji argued that if all policy decisions cannot be questioned in court, then the government was free to spend on things it deemed “good”, notwithstanding the losses incurred. “The only hope is for check and balance [by] this honourable court [as to] why such payment was made,” he pleaded. Roz Mawar said that she has yet to arrive at a decision on the matter, and assured all parties that she will take into account all arguments and submissions made to court. She then set Dec 15 to deliver her verdict. Putrajaya open to revival as long as it doesn’t bear cost Back in December 2016, Malaysia under the leadership of then prime minister Datuk Seri Najib Razak, and Singapore, had signed a bilateral agreement over the RM110 billion KL-SG HSR project. However, it was put on hold in September 2018 under the Pakatan Harapan (PH) government and subsequently terminated in January 2021, during the Perikatan Nasional (PN)-led government, as the two countries could not reach an agreement on several changes proposed by Putrajaya. The government then announced in March 2021 that it had paid S$102.8 million (RM330 million) to Singapore for the cost incurred by the republic, for the development of the project and related delays. However, in March this year, the unity government’s Transport Minister Anthony Loke said that they were willing to revive the KL-SG HSR project, as long as the government does not bear the cost. Since then, MyHSR Corp Sdn Bhd, mandated to develop the project, has initiated a request for information (RFI) from a private sector consortia to submit concept proposals for developing and operating the KL-SG HSR project. In early November this year, MyHSR said that the RFI’s deadline has been extended from Nov 15 to Jan 15 next year, due to the “requests from international and local industry players in recent weeks”. You must show that there is an abuse of power in office, in coming to the decision. It is not a matter of whether we like the decision but where are the particulars of the abuse.” — Judicial Commissioner Roz Mawar Rozain.

FRIDAY DECEMBER 1, 2023 19 THEEDGE CEO MORNING BRIEF WORLD GAZA/TEL AVIV (Nov 30): Israel and Hamas struck a last-minute agreement on Thursday to extend their ceasefire for a seventh day, and Washington said it hoped the truce could be extended further to free more hostages and let aid reach Gaza. The truce has let some humanitarian aid into Gaza after much of the coastal territory of 2.3 million people was reduced to wasteland by seven weeks of Israeli bombardment in retaliation for a deadly rampage by Hamas militants on Oct 7. However, a deadly shooting in Jerusalem was a potent reminder of the potential for violence to spread. Israel, which has demanded Hamas release at least 10 hostages per day to keep the ceasefire going, said it received a list at the last minute of those who would go free on Thursday, allowing it to call off plans to resume fighting at dawn. “In light of the mediators’ efforts to continue the process of releasing the hostages and subject to the terms of the framework, the operational pause will continue,” the Israeli military said in a statement, released minutes before the truce was due to expire at 0500 GMT. Israel, Hamas extend Gaza truce by one day in last-minute deal WASHINGTON (Nov 30): Henry Kissinger, a diplomatic powerhouse whose roles as a national security adviser and secretary of state under two presidents who left an indelible mark on US foreign policy and earned him a controversial Nobel Peace Prize, died on Wednesday at age 100. Kissinger died at his home in Connecticut, according to a statement from his geopolitical consulting firm, Kissinger Associates Inc. No mention was made of the circumstances. It said he would be interred at a private family service, to be followed at a later date by a public memorial service in New York City. Kissinger had been active late in life, attending meetings in the White House, publishing a book on leadership styles, and testifying before a Senate committee about the nuclear threat posed by North Korea. In July 2023, he made a surprise visit to BeiHenry Kissinger, American diplomat and Nobel winner, dead at 100 BY STEVE HOLLAND & ARSHAD MOHAMMED Reuters BY NIDAL AL-MUGHRABI, MOHAMMAD SALEM & HUMEYRA PAMUK Reuters Read also: UN chief says Gaza in midst of ‘epic humanitarian catastrophe’ North Korea says it will not negotiate sovereignty with ‘double-faced’ US jing to meet Chinese President Xi Jinping. During the 1970s, in the midst of the Cold War, he had a hand in many of the epoch-changing global events of the decade, while serving as national security adviser and secretary of state under then Republican president Richard Nixon. Read the full story Hamas, which freed 16 hostages on Wednesday while Israel released 30 Palestinian prisoners, also said the truce would continue for a seventh day. US Secretary of State Antony Blinken, on his third visit to the Middle East since the war began, said efforts were continuing to prolong the truce. “We have seen over the last week the very positive development of hostages coming home, being reunited with their families. And that should continue today,” he said during a meeting with Israeli President Isaac Herzog. The German-born Jewish refugee’s efforts led to the US diplomatic opening with China, landmark US-Soviet arms control talks, expanded ties between Israel and its Arab neighbours, and the Paris Peace Accords with North Vietnam. Kissinger’s reign as the prime architect of US foreign policy waned with Nixon’s resignation in 1974, amid the Watergate scandal. Still, he continued to be a diplomatic force as secretary of state under Nixon’s successor, then president Gerald Ford, and to offer strong opinions throughout the rest of his life. While many hailed Kissinger for his brilliance and broad experience, others branded him as a war criminal for his support for anti-communist dictatorships, especially in Latin America. In his latter years, his travels were circumscribed by efforts by other nations to arrest or question him about past US foreign policy. His 1973 Peace Prize was awarded for ending American involvement in the Vietnam War but it was one of the most controversial ever. Two members of the Nobel committee resigned over the selection, as questions arose about the secret US bombing of Cambodia. North Vietnamese diplomat Le Duc Tho was selected to jointly receive the award but declined it. Ford called Kissinger a “super secretary of state” but also noted his prickliness and self-assurance, which critics were more likely to call them paranoia and egotism. Even Ford said, “Henry, in his mind, never made a mistake”. While many hailed Kissinger for his brilliance and broad experience, others branded him as a war criminal for his support for anti-communist dictatorships. Henry Kissinger REUTERS

FRIDAY DECEMBER 1, 2023 20 THEEDGE CEO MORNING BRIEF WORLD DUBAI (Nov 30): The UN climate summit clinched an early victory Thursday, with delegates adopting a new fund to help poor nations cope with costly climate disasters. COP28 president Sultan al-Jaber said the decision sent a “positive signal of momentum to the world and to our work here in Dubai.” In establishing the fund on the first day of the two-week COP28 conference, delegates opened the door for governments to announce contributions. And several did, kicking off a series of small pledges that countries hoped would build to a substantial sum, including US$100 million from the COP28 host United Arab Emirates, another US$100 million from Germany, at least US$51 million from Britain, US$17.5 million from the United States and US$10 million from Japan. The early breakthrough on the damage fund, which poorer nations had demanded for years, could help grease the wheels for other compromises to be made during the two-week summit. But some groups were cautious, noting there were still unresolved issues including how the fund would be financed in the future. “The absence of a defined replenishment cycle raises serious questions about the fund’s long-term sustainability,” said Harjeet Singh, head of global political strategy at Climate Action Network International. “The responsibility now lies with affluent nations to meet their financial obligations in a manner proportionate to their role in the climate crisis.” Adnan Amin, CEO of the COP28 summit, told Reuters this month the aim was to secure several hundred million US dollars for the climate disaster fund during the event. Pope Francis, who was forced to cancel his trip to COP28 due to illness, sent a message on social media platform X: “May participants in #COP28 be strategists who focus on the common good and the future of their children, rather than the vested interests of certain countries or businesses. May they demonstrate the nobility of politics and not its shame.” A role for fossil fuels Earlier on Thursday, Jaber opened the summit by urging countries and fossil fuel companies to work together to meet global climate goals. Governments are preparing for marathon negotiations on whether to agree, for the first time, to phase out the world’s use of CO2-emitting coal, oil and gas, the COP28 kicks off with climate disaster fund victory (Nov 30): Opec+ members agreed to make one million barrels a day of additional oil-supply cuts to go alongside Saudi Arabia’s much-anticipated extension of its voluntary reduction of the same size. Members have agreed to this in principle and it now goes to a vote at the meeting, delegates said, asking not the be named because the information was private. The deal fulfils what delegates had said were Riyadh’s goals for the meeting. More than a week of preparatory talks appeared to have overcome internal disagreements over some members’ production quotas. Oil rose 1.3% to US$84.16 a barrel as of 2:56pm in London. Saudi Arabia, which has been making an extra voluntary cut of one million barrels a day since July, was pressing the rest of the Organization of Petroleum Exporting Countries and its allies to join this effort after crude prices fell by more than 10% from their September high. A deeper collective reduction combined with the extension of Riyadh’s voluntary cutback could stave off a renewed oil surplus predicted for early next year. Opec+ agrees on deeper output cuts to avoid renewed surplus BY GRANT SMITH, SALMA EL WARDANY & FIONA MACDONALD Bloomberg BY KATE ABNETT, MAHA EL DAHAN & VALERIE VOLCOVICI Reuters main source of warming emissions. Jaber, who is also the CEO of the United Arab Emirates’ national oil company ADNOC, aimed to strike a conciliatory tone following months of criticism over his appointment at the head of COP28. He acknowledged that there were “strong views” about the idea of including language on fossil fuels and renewables in the negotiated text. “It is essential that no issue is left off the table. And yes, as I have been saying, we must look for ways and ensure the inclusion of the role of fossil fuels,” he said. He touted his country’s decision to “proactively engage” with fossil fuel companies, and noted that many national oil companies had adopted net-zero targets for 2050. “I am grateful that they have stepped up to join this game-changing journey,” Jaber said. “But, I must say, it is not enough, and I know that they can do much more.” Another major task at the summit will be for countries to assess their progress in meeting global climate goals — chiefly the Paris Agreement goal of limiting global warming to well below 2 degrees Celsius (3.6 degrees Fahrenheit). This process, known as the global stocktake, should yield a high-level plan telling countries what they need to do. A new group-wide Opec+ cut of one million barrels a day could actually be only half as big in real terms, Amrita Sen, director of research at consultant Energy Aspects Ltd, told Bloomberg Television before the meeting. That’s because some countries are already pumping below their targets, she said. It was not immediately clear how the cuts would be distributed between members, nor how Russia’s 300,000 barrel-aday export cut would factor into the new totals. The outlook for oil has weakened over the past two months amid plentiful supplies and a darkening economic backdrop. Price could fall even further next year, when forecasters including the International Energy Agency anticipate a sharp slowdown in demand growth. REUTERS COP28 summit opens with hopes for early deal on climate damage fund.

FRIDAY DECEMBER 1, 2023 21 THEEDGE CEO MORNING BRIEF WORLD BOE staff argue global interest rates will sink to lows again FRANKFURT (Nov 30): Eurozone inflation tumbled more than expected for a third straight month in November, challenging the European Central Bank’s (ECB) narrative that price growth is stubborn and fuelling bets on early spring rate cuts in defiance of the bank’s explicit guidance. Inflation has dropped quickly towards the ECB’s 2% target from levels above 10% just a year ago but policymakers have cautioned against excessive optimism. They warn that the “last mile” of disinflation could be more difficult and take twice as long as getting back under 3%. Hard data showing inflation falling much faster than expected appears to be challenging that outlook, however, even if a bounce back in the coming months is still likely as high energy prices get knocked out of year-earlier figures and some tax cuts are reversed. Consumer price growth in the 20 nations sharing the euro currency dropped to 2.4% in November from 2.9% in October, well below expectations for 2.7%, dragged lower by nearly all items, with the notable exception of unprocessed food prices. Even underlying price pressures eased more quickly than forecast, with inflation excluding food and energy — closely scrutinised by the ECB — dipping to 3.6% from 4.2% on a big drop in services prices. The rapid inflation slowdown puts the eurozone central bank and investors on a collision course as the two appear to see greatly different paths ahead, both for consumer prices and ECB interest rates. “With a third month of an unambiguously good inflation report, and with prices actually declining from the previous month, it is starting to look that before long we will be talking about inflation being too low, rather than too high,” Kamil Kovar, a senior economist at Moody’s Analytics, said. “And if the recent trends in inflation and growth continue then 2024 will be the year when the ECB implements a pirouette in monetary policy.” The ECB argues that underlying dynamics are more stubborn than they appear and inflation will actually come back above 3% next year, only hitting the 2% target in late 2025, partly due to rapid nominal wage growth. This will require the bank to hold its deposit rate at a record-high 4% for an extended period, and even Yannis Stournaras, the dovish chief of the Greek central bank, sees no cut before mid-2024. Fresh data on Thursday showing unemployment holding at a record-low 6.5% despite an economic contraction would appear to support this argument as it underlines just how tight the eurozone’s labour market is. Bank of Italy Governor Fabio Panetta did not explicitly push back on the ECB’s guidance on Thursday but warned about the dangers of keeping interest rates high for too long. Eurozone inflation tumble pits ECB against markets BY BALAZS KORANYI Reuters BY TOM REES Bloomberg With a third month of an unambiguously good inflation report, and with prices actually declining from the previous month, it is starting to look that before long we will be talking about inflation being too low, rather than too high.” — Economist. Read the full story “The duration of this phase will depend on development in macroeconomic variables; it could be short if continued weakness in economic activity accelerates the decline in inflation,” Panetta, a former ECB board member, said. “We need to avoid unnecessary damage to economic activity.” Investors are increasingly ignoring ECB President Christine Lagarde’s explicit guidance for steady rates for several quarters, pricing in a combined 115 basis points of cuts for the next year, with a first move by April fully priced in. REUTERS (Nov 30): Global interest rates will likely sink back to the lows seen before the pandemic in the long run, according to a new Bank of England (BOE) study that wades into the fierce debate among economists about the future of borrowing costs. Staff analysts at the UK central bank argued that sluggish productivity gains and longer life spans will drive the long-run neutral interest rate — known as R* by economists — back down to the historically low levels that prevailed in the years leading up to the pandemic. The conclusions feed a growing debate over whether the ultra-low rates environment that emerged after the financial crisis will return. A jump in inflation after lockdowns ended forced central banks around the world to tighten policy quickly, forcing up borrowing costs. “Our simulations imply that increased longevity and slowing productivity growth have resulted in a large fall in Global R*,” said the blog post written by three BOE staff members — Ambrogio Cesa-Bianchi, Richard Harrison and Rana Sajedi. “The global rise in longevity is not expected to unwind, and so its effect on Global R* is expected to persist.” None of the BOE’s policy makers led by Governor Andrew Bailey were named contributors to the piece. There’s disagreement among economists about whether an aging population will increase or pull down interest rates. Some argue that green investment and deglobalisation will push up borrowing costs in the long term. REUTERS

FRIDAY DECEMBER 1, 2023 22 THEEDGE CEO MORNING BRIEF WORLD Stocks on cruise control as rate cut expectations boost outlook US economy slowed in recent weeks with inflation, labour cooling BY AUGUSTA SARAIVA Bloomberg BY MARC JONES Reuters (Nov 30): US consumer spending, inflation and the labour market all cooled in recent weeks, adding to evidence that the economy is slowing. Inflation-adjusted personal spending rose 0.2% last month after a downwardly revised 0.3% advance in September, according to the Bureau of Economic Analysis. Separate figures Thursday showed recurring applications for unemployment benefits rose to the highest in about two years. The figures are consistent with expectations that the economy will moderate in the fourth quarter following the strongest growth pace in nearly two years. Cooler demand may also help reassure the Federal Reserve that inflationary pressures will continue to abate, reinforcing forecasts central bankers are done raising interest rates. The core personal consumption expenditures price index, which strips out the volatile food and energy components, rose 0.2% last month. From a year ago, the Fed’s preferred gauge of underlying inflation advanced 3.5%. The Fed’s latest Beige Book survey, released Wednesday, showed economic activity slowed in recent weeks as households pulled back on discretionary spending. Labour demand also eased. Central bank officials are increasingly relying on this type of information to assess the path of the economy and inflation. The overall PCE price index was unchanged from the prior month, on lower energy prices. On an annual basis, it’s running at 3% — the smallest gain since March 2021 yet still above the Fed’s 2% target. Supercore inflation Policymakers pay close attention to services inflation excluding housing and energy, which advanced 0.1% from September, matching the smallest increase this year. On an inflation-adjusted basis, outlays for goods rose 0.1%, restrained by a drop in spending on durable goods such as motor vehicles. Services spending increased 0.2%. Meanwhile, real disposable income, the main support to consumer spending, increased 0.3%. That was the biggest gain since May and supported by interest and dividend payments. Meantime, wages and salaries, unadjusted for inflation, rose just 0.1%, the smallest advance this year. The saving rate edged up to 3.8%. Separate data out earlier this week showed the US economy grew more than originally estimated in the third quarter. Forecasters surveyed by Bloomberg see economic growth slowing to a 1.2% annualised pace this quarter. LONDON (Nov 30): World stock markets edged higher on Thursday, heading for their best monthly jump since the first Covid-19 vaccine breakthroughs of 2020, as the continuing downtrend for global bond yields lifted confidence. Asia had made fresh gains of 0.2-0.3% overnight and Europe followed suit as a flurry of weak economic data out of Germany, France and Italy bolstered bets that interest rates are heading for the chop next year. The regional gains and similarly higher Wall Street futures helped lift the MSCI’s main world stocks index , which tracks 47 countries, a fractional 0.01%, consolidating its near 9% leap this month. Currency markets reacted to the European data, that included news of a shriveling French economy, by shoving the euro lower and had bond traders dragging forward their ECB rate cut expectations to April. The data “confirm what we have been saying for a little while, Europe is already in recession but it is a mild recession,” Rabobank’s head of macro strategy Elwin de Groot said. “So we see those rate cut expectations gaining hold in the market, although I think maybe it is a bit overdone as I don’t think central banks will be lured early into cutting rates,” de Groot added, referring to ongoing uncertainties. With new data also showing euro zonewide inflation had slowed again this month, the yield on Germany’s 10-year bond, the benchmark for the bloc, fell to 2.394% in early trading, the lowest since late July. US and other major economy bond yields have also tumbled since hitting their highest levels in more than a decade in October. US Treasury yields, which usually drive global borrowing costs, have seen their biggest fall since 2008. Overnight, the MSCI Asia-ex-Japan stocks index had risen 0.3% to cement its near 7% jump this month, its best since January. Read also: JPMorgan’s S&P 500 outlook for 2024 is grimmest on Wall Street Biggest blowout in US bonds since the 1980s sparks everything rally THE EDGE FILE PHOTO BLOOMBERG

FRIDAY DECEMBER 1, 2023 23 THEEDGE CEO MORNING BRIEF WORLD (Nov 30): Hong Kong saw a record number of failed land tenders this year with plot-sales revenue headed toward the lowest ever due to the sector downturn. The city only sold one-third of land plots in public tenders in the first 11 months, a record for failed bids in Hong Kong, according to a Nov 30 report from Colliers International Group Inc. Increased costs for funding and construction are deterring property companies from acquiring land, said Hannah Jeong, head of valuation & advisory services in Hong Kong. “At the same time they don’t know whether residential prices will go up to cover the margin five years later,” she said. “That’s why developers are losing confidence at the moment.” The six sites left unsold were mostly residential plots. The financing interest rate for developing projects is at around 8%, Jeong added. Construction costs for mass-market homes now are about HK$5,000 (RM2,985) per square foot, which a few years ago was the pricing for luxury projects. Hong Kong’s land suppliers include the government, MTR Corp — the subway operator owned by the government — and the Urban Renewal Authority, a public body responsible for city redevelopment. The lacklustre land market has hurt the government coffers. It has generated just HK$12.1 billion land revenue in the current fiscal year ending in March, making up 14% of the annual target. Land sales have long been a major Hong Kong property slump sinks a record number of land tenders (Nov 30): Alibaba Group Holding Ltd is set to lose its position as China’s most valuable e-commerce firm to eight-year-old upstart PDD, a watershed moment for an internet industry that Jack Ma’s iconic firm dominated for more than a decade. Alibaba slid as much as 1.4% in Hong Kong, putting its market value at about HK$1.46 trillion (RM871.3 billion) and on track to close below US-listed PDD Holdings Inc’s US$188.3 billion, according to Bloomberg calculations. PDD, the company best known for hit US shopping app Temu and domestic bargains trailblazer Pinduoduo, closed nearly 2% higher in New York on Wednesday. The once-inconceivable shift reflects the turmoil that engulfed Alibaba after Beijing in 2020 targeted the company and its once-outspoken co-founder, kicking off a sweeping crackdown on the powerful tech sector. It also signals the rise of a generation of upstarts from PDD to ByteDance Ltd, which are disrupting the traditional arenas of social media and e-commerce. On Wednesday, Alibaba’s billionaire co-founder Ma stunned employees when he took to an internal forum both to praise PDD and exhort his company’s 220,000- plus staff to “correct course” and retake the momentum. To many observers, his call to arms — after three years of largely staying in the background — underscored the gravity of the situation.“On hindsight, you can say that Alibaba was resting on its laurels given they had so much of a headstart but they didn’t execute or innovate as fast,” said Vey-Sern Ling, managing director at Union Bancaire Privee. “When anti-monopoly came up and they couldn’t use their size to compel merchants to their platforms, they were suddenly caught flat-footed.” Alibaba, once China’s best candidate to become a trillion-dollar company, is trading around its lowest this year, at a fraction of its peak in 2020. The company is navigating turbulence both internally and externally, as a weaker-than-anticipated Chinese economic recovery and PDD undermine its once-dominant online retail business. Alibaba’s value dips below upstart PDD’s in landmark for China BY CHARLOTTE YANG & JANE ZHANG Bloomberg BY SHAWNA KWAN Bloomberg Read also: Xi’s first Shanghai visit since 2020 showcases tech, finance China’s factory, services activity shrinks in snag for recovery source of income for the city to maintain a low tax system. At its peak, land sales brought the government HK$165 billion in the 2017 fiscal year. Expensive interest rates are suppressing the city’s housing market. Residential prices have dropped to six-year low while developers are selling new apartments at a discount to lure buyers. Local builders’ share prices have underperformed the city’s benchmark index this year. Sun Hung Kai Properties Ltd and Henderson Land Development Co’s shares are down by more than 20% since the start of the year. New World Development Co has tanked by 46%. Read the full story

FRIDAY DECEMBER 1, 2023 24 THEEDGE CEO MORNING BRIEF WORLD LONDON (Nov 30): The president of tech giant Microsoft said there is no probability of super-intelligent artificial intelligence being created within the next 12 months. Brad Smith’s comments come one year after Microsoft-backed OpenAI released AI chatbot ChatGPT to the public, sparking a flurry of investment and concern such systems could pose an existential threat to humanity. Recent reports suggested OpenAI founder Sam Altman may have been ousted from the company following internal wranglings over a potentially dangerous AI discovery. However, Smith rejected these claims. “I don’t think that is the case at all,” he said, speaking to reporters in Britain on Thursday. “I think there obviously was a divergence between the board and others, but it wasn’t fundamentally about a concern like that.” Altman was forced out of OpenAI by the company’s board earlier this month, but was swiftly reappointed after a weekend of public outcry from company employees and shareholders. Smith added: “There’s absolutely no probability that you’re going to see this so-called AGI, where computers are more powerful than people, in the next 12 months. “It’s going to take years, if not many decades, but I still think the time to focus on safety is now.” (Nov 30): OpenAI said that Sam Altman was officially reinstated as its chief executive officer, and that it has a new initial board of directors, with Microsoft Corp joining as a non-voting observer. The announcement on Wednesday, a blog post penned by Altman, comes two weeks after the CEO’s shock firing from the artificial intelligence (AI) start-up, followed by an operatic boardroom power struggle. OpenAI also said that Mira Murati — who had been the chief technology officer (CTO) until Altman’s ousting when she was briefly named as the interim CEO — is (Nov 30): Warren Buffett’s Berkshire Hathaway Inc said the billionaire former owner of Pilot Travel Centers sought to influence Pilot executives’ business decisions in order to juice the company’s quarterly earnings and pump up the value of his remaining stake in the truck stop chain. In a court filing Tuesday, Berkshire alleges that Jimmy Haslam, whose family owned Pilot until selling it a controlling stake, launched an “illicit scheme” involving secret pledges of bonuses to 15 senior executives and other managers. He promised millions of dollars in “side payments” to the executives to boost short-term profit at the expense of its long-term value, according to the filing in Delaware Chancery Court. The alleged aim was to raise the value of his 20% stake in the chain. Berkshire claims that after it took control of Pilot in January, Haslam “secretly promised massive side payments, from his own pocket”, to get the executives to focus on 2023 profit, which determines the payout Pilot would get on selling its minority stake to Berkshire early next year. He proceeded “in an insidious and largely undetectable way,” Berkshire alleges. Lawyers for Haslam, the owner of the National Football League’s Cleveland Browns, didn’t immediately respond to a request for comment on the filing. A Pilot spokesperson declined to comment on behalf of Haslam. Haslam is a member of Pilot’s board of managers, according to the filing. once again the company’s CTO. OpenAI co-founder Greg Brockman will return as the company’s president, after he quit in protest over Altman’s firing. Microsoft, the company’s largest investor, had not previously had a position on the board, before it took the observer role. The new directors are: Bret Taylor, a former co-CEO of Salesforce Inc, who will be the chairman; Larry Summers, a former US treasury secretary; and Adam D’Angelo, a holdover from the previous board and the CEO of question-and-answer site Quora Inc. One of the directors’ primary tasks will be to build out a more permanent board. In an interview on Wednesday, Altman said the new board will be selected “fairly quickly”. He did not specify how many people will eventually be part of the group, but said it will be “significantly enlarged” from the current number. Asked whether he will rejoin the board, Altman said it’s “not a top priority” right now. “I have never been more excited about the future,” Altman wrote in the blog post, adding that he is “extremely grateful for everyone’s hard work in an unclear and unprecedented situation”. OpenAI to add Microsoft as board observer, plans governance changes Buffett’s Berkshire says billionaire Haslam promised illicit payments to juice Pilot’s profit BY RACHEL METZ Bloomberg BY JEF FEELEY Bloomberg Microsoft president says no chance of superintelligent AI soon BY MUVIJA M & MARTIN COULTER Reuters REUTERS Read the full story

FRIDAY DECEMBER 1, 2023 25 THEEDGE CEO MORNING BRIEF WORLD (Nov 30): Tata Technologies Ltd more than doubled in its trading debut, with the surge putting the company on track to deliver the best listing gains for any Indian initial public offering (IPO) of its size. Shares gained as high as 1,400 rupees on Thursday versus an offer price of 500 rupees. The engineering research unit of Tata Motors Ltd, the maker of Jaguar Land Rover cars, raised 30.4 billion rupees (US$365 million or RM1.7 billion) in an IPO that was oversubscribed 69 times. It is the first company to list from the salt-to-software Tata conglomerate since 2004. The 180% jump is set to make Tata Technologies’ debut the best for any Indian company that raised more than US$300 million, data compiled by Bloomberg showed. The IPO was among five offerings last week that together garnered 2.5 trillion rupees in application amount, as India’s booming stock market sparks a frenzy for new listings. “I expected the shares to gain about 50%-60% on the first day, but this sort of response is mind-blowing,” said Aditya Chawan, a 34-year-old investor in Mumbai, who secured 30 shares of Tata Technologies. “It’s the Tata brand that makes the difference.” Chawan is one among millions of retail investors drawn to India’s US$3.9 trillion stock market since the depths of the pandemic, a cohort that’s been a force behind the rally that’s lifted the nation’s benchmark equity indices to records. While the 205 IPOs in India so far SYDNEY (Nov 30): Japanese retail conglomerate Seven & i Holdings said on Thursday it had agreed to purchase the 7-Eleven convenience store chain in Australia for A$1.71 billion (US$1.1 billion or RM5.28 billion), further expanding its ownership of the brand. The Australian convenience and petrol retailer, owned by the Withers and Barlow families, kick-started the process to sell the business — which consists of 751 stores — earlier this year. The deal will allow Seven & i to establish “itself as the clear industry leader in the Australian convenience store market, which has significant growth potential”, the Japanese company said in a statement. It added that it saw room for further growth by actively opening new stores in most Australian states. Seven & i’s corporate predecessor first licensed the 7-Eleven franchise from USbased Southland Corp in 1973. But the Japanese conglomerate later took over in 2023 have mostly been small — only two raised more than US$500 million — about 80% of the newcomers are trading above their offer prices versus 62% in Asia. Indian Renewable Energy Development Agency Ltd, a state-run lender to renewable energy projects, surged 88% in its trading debut on Wednesday. Gandhar Oil Refinery India Ltd also started trading on Thursday, with its shares rising as much as 104% over the issue price. “Strong optimism in the domestic market has fuelled the surge in IPO listings in the last two years,” Jahnavi Prabhakar, an economist at Bank of Baroda wrote in a note on Wednesday. “A large number of IPOs have been listed at a premium, making this a win-win situation for investors.” The 155-year-old Tata Group’s last initial share sale was by Tata Consultancy Services Ltd almost two decades ago. The software giant’s shares have returned more than 21% annually since their debut in 2004, beating the 16% yearly gain in the S&P BSE Sensex Index. Tata Technologies provides engineering research and development services along with product development and digital solutions to global OEMs and their key suppliers. The company is looking to expand into aerospace, transportation and electric vehicles. Its automotive business delivers about 70% of sales, with Tata Motors and JLR among key clients and Vietnam’s Vinfast emerging as a major customer. “The IPO opens new growth opportunities and deepens our understanding that how in the future we intend to leverage the support of the capital markets,” Warren Harris, the chief executive officer of Tata Technologies, said during the listing ceremony in Mumbai. the US company in 1991, and now controls more than 80,000 7-Eleven convenience stores around the globe. Its sprawling retail empire also includes Speedway gas stations in the US and Ito-Yokado supermarkets in Japan. The company has, however, come under pressure by analysts and investors to restructure and shed underperforming assets. Earlier this year, Seven & i faced down a board challenge from US-based activist fund ValueAct Capital, which had urged the company to consider a spin-off of the 7-Eleven convenience store chain. Read also: BOJ policymaker says need more time before phasing out stimulus Japan October factory output rises on circuits, autos rebound Japan’s Seven & i expands 7-Eleven empire with purchase of Australian franchise BY SCOTT MURDOCH, ABIGAIL SUMMERVILLE & ROCKY SWIFT Reuters BLOOMBERG Tata Technologies surges 180%, poised to be best IPO debut in India BY ASHUTOSH JOSHI & FILIPE PACHECO Bloomberg

FRIDAY DECEMBER 1, 2023 26 THEEDGE CEO MORNING BRIEF WORLD (Nov 30): Tesla is set to start deliveries of its long-delayed Cybertruck electric pickup on Thursday, after CEO Elon Musk tempered investor expectations citing problems in ramping production of what he called a “radical” product. Cybertruck, Tesla’s first new model in nearly four years, is critical to its reputation as a maker of innovative vehicles. At a time when the company is battling softening electric vehicle (EV) demand and rising competition, Cybertruck is also key for generating sales, though not to the extent of the company’s high-volume Models 3 and Y. “We dug our own grave with Cybertruck,” Musk said last month, warning that it would take a year to 18 months to make the vehicle a significant cash flow contributor. Tesla to deliver Cybertrucks after Musk tempers expectations (Nov 30): Elon Musk, the billionaire owner of X, said the advertisers that had stopped spending on the platform due to his endorsement of an antisemitic post can “f— —” themselves. “What it’s going to do is it’s going to kill the company, and the whole world will know the advertisers killed the company,” Musk said at the New York Times DealBook conference on Wednesday. “Go f—— yourself.” The post was the “worst and dumbest I’ve ever done”, said Musk, the chief executive officer of Tesla Inc. Still, if advertisers leave the company, its failure will be their fault, not his — saying they were trying to “blackmail me with money”, he said. “I won’t tap-dance” to prove trustworthy, he said. Musk took the stage at the DealBook conference, following a tumultuous few weeks for the world’s richest person, with a net worth of around US$226 billion (RM1.05 trillion). Earlier this month, Musk agreed with a post that said Jewish people hold a “dialectical hatred” of white people. That message has since drawn criticism from the White House, as well as several Tesla investors. Major corporate spenders, including Walt Disney Co and Apple Inc, distanced themselves from the platform formerly known as Twitter. From the DealBook stage, Musk called out to “Bob” specifically, referring to Robert Iger, the CEO of Disney. Iger spoke at the event earlier in the day. For the first time since the post spurred a global backlash, Musk apologised for his choice of words. Musk, who flew to Israel to tour areas that were impacted by the Oct 7 Hamas attack alongside Prime Minister Benjamin Netanyahu, said the trip was planned before the advertiser backlash. It wasn’t an “apology tour”, he said. Following his visit, he appeared on stage wearing a dog tag, which has become symbolic of a call for the return of hostages capElon Musk, slinging expletives, says advertiser boycott on X may kill it BY AISHA COUNTS & DANA HULL Bloomberg BY AKASH SRIRAM & HYUNJOO JIN Reuters tured by Hamas, which is designated a terrorist organisation by the US and European Union. Musk urged people to judge him by his actions rather than his words, and brought up two companies he runs as justification. Tesla, he said, made more electric cars than competitors. SpaceX, formally named Space Exploration Technologies Corp, sends more satellites into space than any other company or country. “Hate me, like me, or be indifferent. Do you want the best car, or do you not want the best car?” he said. He said he’s done “more for the environment than any human”. Political clout Musk also addressed the inordinate amount of power that he wields, given his market power in key industries such as cars, space, satellites and social media. The billionaire holds the keys to technological tools that provide him with political clout that world leaders have come to rely on. “The reason I have these powers isn’t because of anti-competitive actions, but because we’ve executed well,” he said. Musk, who had been close to former US president Barack Obama, has had a contentious relationship with the Biden administration, and said on Wednesday that he couldn’t see himself voting for President Joe Biden in the 2024 US presidential election. Pricing for the vehicle is expected to be revealed at an event scheduled to begin at 3pm ET (2000 GMT). After saying in 2019 the truck would be priced at US$40,000 (RM186,380), Musk has not offered an updated price despite rising raw material costs. REUTERS Hate me, like me, or be indifferent. Do you want the best car, or do you not want the best car?” Read the full story

FRIDAY DECEMBER 1, 2023 27 THEEDGE CEO MORNING BRIEF WORLD pensive groceries, household goods and recreation. Geneva, tied with New York in the third position, and Hong Kong rounded out the list of the top five costliest places. Overall, global prices rose an average 7.4% year-on-year in local currency terms, slightly down on last year’s 8.1% increase. Chinese cities were among the biggest movers down the rankings, mainly due to the country’s slow post-pandemic recovery and subdued consumer demand. Singapore, Zurich surpass New York to become world’s most expensive cities to live in — survey Philippines raises US$1 bil from maiden sukuk issue (Nov 30): Singapore and Zurich surpassed New York to become the world’s most expensive cities to live in this year, according to a new global survey. The sky-high cost of car ownership, pricey alcohol and rising grocery prices saw Singapore pull ahead of the US city, with which it shared the top spot last year, according to the Economist Intelligence Unit’s (EIU) Worldwide Cost of Living 2023 report. Zurich jumped from the sixth place last year to joint first, thanks in part to a strong Swiss franc, as well as ex- (Nov 30): Singaporean paychecks failed to keep pace with inflation that stayed elevated this year, with a Ministry of Manpower report showing real incomes in 2023 fell from a year ago. Real median wage, which takes inflation into account, fell 2.3% this year while real income for lower earners fell 3%, according to the ministry’s Labor Force in Singapore advance release on Thursday. The data comes a week after the citystate reported that core inflation — which hit a 14-year high at the start of the year, quickened for the first time in nine months in October. Cost of living pressures continue to hit residents in Singapore where rentals remain high and even cheap hawker meals are disappearing, biting into salaries of residents even as nominal incomes rose. MANILA (Nov 30): The Philippines has raised US$1 billion (RM4.6 billion) from its maiden issue of sukuk or Islamic bonds, the country’s treasury bureau said in a statement on Thursday. The offer with a 5.5 year tenor fetched a yield of 5.045%, with demand nearly five times oversubscribed from the offer, the Bureau of the Treasury (BTr) said. The sukuk issue is part of the Philippine government’s plans to develop Islamic banking in the predominantly Catholic nation, with just nearly 6.4% Muslims out of nearly 110 million people. “We hope this transaction will create positive momentum for Islamic banking and finance in the Philippines, and we look forward to the active participation of all stakeholders,” Finance Secretary Benjamin Diokno was quoted as saying in the statement. Citigroup, Deutsche Bank, Dubai Islamic Bank, HSBC, MUFG, and Standard Chartered Bank acted as bookrunners and managers for the deal. The Philippines is one of Asia’s most active sovereign debt issuers. The country plans to borrow around US$44 billion from debt markets, with about a quarter of that coming from foreign sources, to fund the government’s budget of 5.77 trillion pesos for next year. Read also: Marina Bay Sands said to seek up to S$10 bil loan for growth Separately, the finance ministry said in a statement Thursday that property taxes for most residences are set to rise next year as a result of increased rents which influence calculations for the tax. A one-off tiered rebate for all residential properties that are currently occupied by owners will be given “amidst concerns about cost-of-living.” Private properties will get a 15% discount capped at S$1,000 (RM3,495), while public housing will get rebates ranging from 30%-100%. Singapore’s all-items price inflation averaged 5.1% in the first 10 months of this year, according to data compiled by Bloomberg. The labour force report also found that the city-state continued to have one of the highest employment rates compared to OECD countries despite a tight labour market that had the employment rate declining to 66.2% for residents aged 15 and over. Elsewhere, the non-professional jobless rate declined to 3.6% in 2023, while PMET — Professionals, Managers, Executives and Technicians — unemployment fell to 2.4%. Economic headwinds are expected to continue to weigh on the job market going forward, the report said, adding that real income is expected to improve in 2024 given the expected easing in inflation. Singapore real income falls 2.3% this year as inflation lingers BY KEVIN VARLEY & LOW DE WEI Bloomberg BY MIKHAIL FLORES & KAREN LEMA Reuters BY ALEX MILLSON Bloomberg BLOOMBERG

FRIDAY DECEMBER 1, 2023 28 THEEDGE CEO MORNING BRIEF MARKETS Top 20 active stocks World equity indices Top gainers (ranked by %) Top losers (ranked by %) Top gainers (ranked by RM) Top losers (ranked by RM) NAME VOLUME CHANGE CLOSE YTD MARKET (MIL) (RM) CHANGE CAP (%) (RM MIL) VELESTO ENERGY BHD 167.1 0.000 0.220 46.67 1807.4 KANGER INTERNATIONAL BHD 129.0 -0.010 0.075 87.50 48.7 TOP GLOVE CORP BHD 120.4 -0.050 0.810 -10.50 6,486.6 PUBLIC BANK BHD 115.0 0.030 4.270 -1.16 82,883.7 DAGANG NEXCHANGE BHD 76.3 -0.020 0.400 -21.57 1,262.5 SARAWAK CONSOLIDATED 65.8 0.035 0.770 431.03 493.0 WIDAD GROUP BHD 64.1 -0.005 0.465 8.14 1,439.9 LEFORM BHD 63.8 0.000 0.320 55.04 473.9 PRESS METAL ALUMINIUM HOLDINGS 57.8 -0.090 4.800 -1.64 39,550.2 UEM SUNRISE BHD 54.9 -0.005 0.710 178.43 3,591.5 MR DIY GROUP M BHD 42.2 -0.020 1.530 -23.50 14,445.7 SUPERMAX CORP BHD 37.2 -0.105 0.925 6.32 2,382.9 RGB INTERNATIONAL BHD 37.0 -0.010 0.290 64.34 446.8 BINA PURI HOLDINGS BHD 36.1 0.000 0.075 87.50 252.7 DC HEALTHCARE HOLDINGS BHD 34.4 0.020 0.395 0.00 393.5 CELCOMDIGI BHD 34.0 0.210 4.340 8.50 50,914.7 SIME DARBY PROPERTY BHD 32.6 -0.015 0.640 42.22 4,352.5 YTL CORP BHD 32.2 -0.010 1.550 167.24 16,994.8 RENEUCO BHD 30.4 0.010 0.190 -47.95 136.9 YTL POWER INTERNATIONAL BHD 28.5 0.020 2.370 231.47 19,202.1 Data as compiled on Nov 30, 2023 Source: Bloomberg NAME CLOSE CHANGE VOLUME YTD MARKET (%) (‘000) CHANGE CAP (%) (RM MIL) KEY ALLIANCE GROUP BHD 0.010 100.00 102.0 100.00 36.8 MLABS SYSTEMS BHD 0.010 100.00 1725.1 -50.00 14.5 EA HOLDINGS BHD 0.010 100.00 30.1 -33.33 64.5 FOCUS DYNAMICS GROUP BHD 0.020 33.33 2561.7 0.00 127.4 BCM ALLIANCE BHD 0.020 33.33 1312.2 -20.00 40.7 TWL HOLDINGS BHD 0.035 16.67 11130.2 0.00 171.3 XOX NETWORKS BHD 0.035 16.67 25.1 16.67 39.7 ORIENTAL FOOD INDUSTRIES 1.770 11.32 2246.5 32.09 424.8 WMG HOLDINGS BHD 0.100 11.11 363.4 5.26 44.5 SARAWAK CABLE BHD 0.050 11.11 55.9 -23.08 19.9 XOX TECHNOLOGY BHD 0.055 10.00 1190.4 22.22 49.1 TIEN WAH PRESS HOLDINGS BHD 0.920 9.52 1.6 3.37 133.2 PAN MALAYSIA HOLDINGS BHD 0.060 9.09 1560.1 -14.29 55.7 INNITY CORP BHD 0.495 8.79 0.2 19.28 69.0 TDM BHD 0.190 8.57 5348.3 0.00 327.3 ABLE GLOBAL BHD 1.400 8.53 4482.7 3.70 430.6 LANDMARKS BHD 0.195 8.33 1395.0 0.00 130.9 EDUSPEC HOLDINGS BHD 0.065 8.33 12928.8 -35.00 69.3 PASUKHAS GROUP BHD 0.140 7.69 575.8 -6.67 26.7 VINVEST CAPITAL HOLDINGS BHD 0.070 7.69 935.0 -63.16 67.8 Data as compiled on Nov 30, 2023 Source: Bloomberg NAME CLOSE CHANGE VOLUME YTD MARKET (%) (‘000) CHANGE CAP (%) (RM MIL) SC ESTATE BUILDER BHD 0.030 -25.00 243.2 -33.33 32.2 SAUDEE GROUP BHD 0.025 -16.67 1,165.2 -44.44 37.2 PHARMANIAGA BHD 0.350 -13.58 8,221.4 -35.78 504.4 ARK RESOURCES HOLDINGS BHD 0.330 -13.16 31.6 15.79 23.0 IVORY PROPERTIES GROUP BHD 0.070 -12.50 28.3 -12.50 34.3 BARAKAH OFFSHORE PETROLEUM 0.035 -12.50 1,085.3 40.00 35.1 KANGER INTERNATIONAL BHD 0.075 -11.76 129,015.2 87.50 48.7 CORAZA INTEGRATED TECHNOLOGY 0.465 -10.58 6,804.3 -39.22 229.5 BIOALPHA HOLDINGS BHD 0.085 -10.53 765.6 -19.05 119.6 COMFORT GLOVE BHD 0.425 -10.53 5,382.3 -12.37 246.1 SUPERMAX CORP BHD 0.925 -10.19 37,164.9 6.32 2,382.9 CSH ALLIANCE BHD 0.045 -10.00 4,253.0 12.50 62.2 CLASSITA HOLDINGS BHD 0.050 -9.09 4,871.5 -86.30 61.6 CHINA OUHUA WINERY HOLDINGS 0.050 -9.09 45.0 -23.08 33.4 AVILLION BHD 0.050 -9.09 628.9 -37.50 56.7 MINETECH RESOURCES BHD 0.050 -9.09 3,421.8 -9.09 76.5 ASIA MEDIA GROUP BHD 0.105 -8.70 12.7 -30.00 25.1 AWANBIRU TECHNOLOGY BHD 0.320 -8.57 2,546.9 -14.67 252.2 MALAYAN UNITED INDUSTRIES BHD 0.055 -8.33 692.3 -26.67 177.4 MUDAJAYA GROUP BHD 0.165 -8.33 917.7 -26.67 309.5 Data as compiled on Nov 30, 2023 Source: Bloomberg NAME CLOSE CHANGE VOLUME YTD MARKET (RM) (‘000) CHANGE CAP (%) (RM MIL) HEXTARTECHNOLOGIES SOLUTIONS 22.660 -0.600 154.3 32.83 2,915.2 HONG LEONG FINANCIAL GROUP 16.100 -0.300 27,274.1 -13.44 18,438.4 BRITISH AMERICAN TOBACCO 9.360 -0.170 307.0 -16.58 2,672.6 AJINOMOTO MALAYSIA BHD 15.600 -0.160 41.1 19.27 948.5 IMASPRO CORP BHD 5.200 -0.140 1,549.0 -11.11 416.0 HEINEKEN MALAYSIA BHD 22.140 -0.140 339.0 -12.14 6,688.4 DUTCH LADY MILK INDUSTRIES 22.300 -0.120 36.2 -26.26 1,427.2 CARLSBERG BREWERY MALAYSIA 19.140 -0.120 176.7 -16.35 5,852.0 MALAYSIA AIRPORTS HOLDINGS 7.180 -0.120 13,960.2 9.45 11,980.2 SUPERMAX CORP BHD 0.925 -0.105 37,164.9 6.32 2,382.9 HONG LEONG BANK BHD 19.000 -0.100 1,494.8 -7.59 41,186.6 AMMB HOLDINGS BHD 3.960 -0.090 25,077.6 -4.35 13,104.1 PRESS METAL ALUMINIUM HOLDINGS 4.800 -0.090 57,811.7 -1.64 39,550.2 KOSSAN RUBBER INDUSTRIES BHD 1.610 -0.090 10,227.2 46.36 4,108.1 ALLIANZ MALAYSIA BHD 18.080 -0.080 41.0 27.68 3,217.7 RAPID SYNERGY BHD 28.000 -0.080 442.0 75.44 2,993.1 MALAYSIAN PACIFIC INDUSTRIES 26.800 -0.080 35.7 -6.82 5330.4 CAHYA MATA SARAWAK BHD 1.040 -0.070 14,959.9 -2.80 1,117.1 GUAN CHONG BHD 1.900 -0.070 2,315.3 -20.83 2,231.6 DKSH HOLDINGS MALAYSIA BHD 4.600 -0.070 2.5 6.94 725.2 Data as compiled on Nov 30, 2023 Source: Bloomberg NAME CLOSE CHANGE VOLUME YTD MARKET (RM) (‘000) CHANGE CAP (%) (RM MIL) NESTLE MALAYSIA BHD 125.400 3.700 1,348.7 -10.43 29,406.3 UNITED PLANTATIONS BHD 16.980 1.060 1,900.7 13.12 7,043.0 KUALA LUMPUR KEPONG BHD 21.880 0.380 2,254.8 -2.15 23,596.2 PANASONIC MANUFACTURING 17.900 0.280 15.7 -21.83 1,087.3 GAMUDA BHD 4.770 0.210 15,595.7 27.20 12,875.2 CELCOMDIGI BHD 4.340 0.210 34,002.2 8.50 50,914.7 QL RESOURCES BHD 5.610 0.200 4,587.4 1.81 13,652.8 PERTAMA DIGITAL BHD 3.220 0.190 7,319.9 82.95 1,411.0 PETRONAS DAGANGAN BHD 22.300 0.180 1,523.4 -2.40 22,154.0 ORIENTAL FOOD INDUSTRIES 1.770 0.180 2,246.5 32.09 424.8 DIALOG GROUP BHD 2.210 0.140 14,525.9 -9.80 12,470.1 PETRONAS CHEMICALS GROUP 7.220 0.140 15,592.4 -16.05 57,760.0 FRASER & NEAVE HOLDINGS BHD 28.160 0.120 179.0 30.49 10,328.5 PPB GROUP BHD 14.100 0.120 3,403.8 -19.15 20,058.7 SAM ENGINEERING & EQUIPMENT 4.370 0.120 205.8 -11.36 2,366.7 ABLE GLOBAL BHD 1.400 0.110 4482.7 3.7 430.6 TENAGA NASIONAL BHD 9.990 0.110 7,813.4 3.74 57,815.4 KHIND HOLDINGS BHD 2.690 0.110 9.2 -13.23 113.1 COASTAL CONTRACTS BHD 1.780 0.100 279.8 -24.89 947.5 HONG LEONG CAPITAL BHD 4.720 0.100 1279.7 -24.84 1165.4 Data as compiled on Nov 30, 2023 Source: Bloomberg CLOSE CHANGE CHANGE (%) CLOSE CHANGE CHANGE (%) DJIA * 35,430.42 13.44 0.04 S&P 500 * 4,550.58 -4.31 -0.09 NASDAQ 100 * 15,987.60 -22.83 -0.14 FTSE 100 * 7,423.46 40.71 0.55 AUSTRALIA 7,087.33 51.99 0.74 CHINA 3,029.67 7.99 0.26 HONG KONG 17,042.88 49.44 0.29 INDIA 66,988.44 86.53 0.13 INDONESIA 7,080.74 44.65 0.63 JAPAN 33,486.89 165.67 0.50 KOREA 2,535.29 15.48 0.61 PHILIPPINES 6,223.73 -41.41 -0.66 SINGAPORE 3,072.99 -11.71 -0.38 TAIWAN 17,433.85 63.29 0.36 THAILAND 1,380.18 -7.51 -0.54 VIETNAM 1,094.13 -8.67 -0.79 Data as compiled on Nov 30, 2023 * Based on previous day’s closing Source: Bloomberg CPO RM 3,895.0023.00 OIL US$ 83.710.61 RM/USD 4.6613 RM/SGD 3.4906 RM/AUD 3.0835 RM/GBP 5.8976 RM/EUR 5.0927

CEOMorningBrief FRIDAY, DECEMBER 1, 2023 ISSUE 679/2023 theedgemalaysia.com

Malaysian Paper www.thesun.my RM1.00 PER COPY RM1 FRIDAY DEC 1, 2023 SCAN ME No. 8406 PP 2644/12/2012 (031195) PETALING JAYA: While a PhD traditionally represents the highest level of expertise in a specific field, not all individuals who possess such credentials have the critical thinking skills to analyse complex issues, said National Association of Private Educational Institutions secretary-general Dr Teh Choon Jin. He was commenting on the term “professor kangkong”, which was first coined by the late scholar Syed Hussein Alatas Syed Ali Alatas to describe professors who are “devoid of knowledge to the core” and whose claim to be scholars and thinkers are undeserved. The term came to light again recently after a commentary by his daughter Prof Sharifah Munirah Alatas titled “Are we proud of our universities?” While Teh said the perception that all PhD holders lack critical thinking skills is inaccurate, it raises questions about the expectations placed on individuals with advanced degrees. As the academic community grapples with the “professor kangkong” tag, Teh said it serves as a reminder that degrees alone may not be sufficient indicators of real intellectual capacity. On the competence of professors, he said: oExperts weigh in on actual acumen, intellect of PhD holders viewed against ‘glamour’ and expectations of such credentials █ BYSIVANISVARRY MORHAN [email protected] WATER TROUBLE ... Motorists pushing a car that stalled during floods in Kampung Sri Sentosa yesterday following a downpour in Bachok, Kelantan. – BERNAMAPIC thinking skills, actively engage in research and development, contribute to conferences and forums, and connect their work to societal advancements. “One’s expertise and knowledge will be evident through frequent invitations to speak at conferences and seminars, and the recognition they gain within the academic community,” he said, adding that it is also important to acknowledge that PhD holders and professors have different levels of performance and expertise. “Therefore, it is crucial for any expert to be proficient in English and articulate ideas and knowledge professionally. Anyone willing to share ideas with the public should ensure that they get their facts right,” he said, stressing that media agencies that seek expert comments should also check the background of such individuals and select only those suitable for the topic concerned. While emphasising the need for lifelong learning and continuous intellectual development beyond the confines of formal education, he added: “It is important to have a broader perspective. Cultivating critical thinking skills is essential to ensure that the pursuit of knowledge remains meaningful and impactful to all.” “Malaysia currently has 2,446 professors and 6,128 associate professors across public and private universities. “It is essential to focus on quality rather than quantity and it should not be driven solely by numerical targets and seniority, but be aligned with their field and global standards.” Teh said universities need to better prepare and evaluate doctoral candidates, especially professorial appointments to benchmark their specialised knowledge with global standards and the ability to critically analyse and solve issues. “This will allow the selection and promotion of professors to remain independent processes, ensuring that candidates are evaluated solely on their qualifications and accomplishments,” he said, adding that it is also essential for the government to focus on a balanced approach that encourages proficiency in Bahasa Melayu and English among academics. “Some PhD holders, particularly those in academic fields that primarily use Bahasa Melayu as the medium of instruction, may have limited English skills.” Teh said professors or academic experts offering comments on a specific topic should not only possess knowledge but also provide a balanced view. “They must be presentable, especially when appearing on television. If one lacks knowledge and proficiency in English, it would go viral on social media (as has previously happened). “This will cause embarrassment to the institution he represents and also the country on a global scale.” Taylor’s University Law and governance professor and National Professors Council member Prof Dr Nik Ahmad Kamal Nik Mahmood concurred with Teh. “Professors should demonstrate strong critical Sacking of staff over incident done at discretion of owner, not due to violation of regulations: Islamic Dept Report on — page 6 Anti-smoking Bill approved minus GEG MPs not happy with removal of provision, many allege it was due to pressure from tobacco industry. Report on — page 2 Credible or ‘ redible or ‘kangkong angkong’? ‘Restaurant in cross issue not halal-certified’

FRIDAY | DEC 1, 2023 2 GEG dropped from approved anti-smoking Bill KUALA LUMPUR: After two days of debate, the Dewan Rakyat yesterday approved the Control of Smoking Products for Public Health 2023 Bill, minus the provision to ban Malaysians born in 2007 onwards from buying or consuming tobacco and vape products, dubbed the Generational End-Game (GEG). Health Minister Dr Zaliha Mustafa had previously said the GEG was dropped after accounting for the views of the AttorneyGeneral’s Chambers (AGC), which cited potential constitutional arguments. The original Bill was first tabled by former health minister Khairy Jamaluddin last year and was known as the Control of Tobacco Products and Smoking Bill 2022. It included the GEG as one of oParliamentarians express disappointment, while minister says decision took into account constitutional argument concerns █ BYJOSHUA PURUSHOTMAN [email protected] its pillars. Yesterday, Zaliha tabled the revised Bill for its third reading, after which it was unanimously approved by lawmakers via voice vote. A total of 26 members of Parliament debated the Bill on Wednesday. She also withdrew the previous version of the Bill which was tabled in June. The Bill was previously sent to the Parliamentary Special Select Committee for further review after objections were raised by several lawmakers. This was because it received bipartisan opposition from the MPs, which caused it to be initially referred to the Parliamentary Select Committee on Health several times. In her winding-up speech yesterday, Zaliha told parliamentarians of plans to equip enforcement officers with body cameras to nab those who flouted the anti-smoking law. During their debate, most of the parliamentarians expressed disappointment at the removal of the GEG provision from the Bill, with many alleging it was due to pressure from the tobacco industry. However, Zaliha had earlier told Parliament that in drafting the Bill, the AGC had expressed concern that it would contradict Article 8 of the Federal Constitution which touches on equality. “We received a lot of feedback on the GEG, including views from the AGC that it would contravene Article 8 of the Federal Constitution and can be challenged in court.” She said apart from the GEG, provisions related to smoking devices has also been dropped, as it is already being regulated by the Domestic Trade and Cost of Living Ministry. “However, if such products are related to the definition of smoking, then it would be under the regulation of the Health Ministry in Clause 7(1)f, which promotes any goods used in association with any tobacco product, smoking substance, or substitute tobacco product,” she said. Govt not collecting fingerprints for NDID plan KUALA LUMPUR: The government does not intend to collect fingerprints in the implementation of the National Digital Identity (NDID) programme as claimed by many content creators on various social media platforms, the Dewan Negara was told yesterday. Communications and Digital Minister Fahmi Fadzil said since the announcement about the programme was made by Prime Minister Datuk Seri Anwar Ibrahim, there have been many inaccurate, misleading and false content circulated on social media claiming that the government would be collecting fingerprints for the purpose. “Even though the NDID programme is under Mimos and not the ministry, I take this opportunity to clarify that we do not intend to collect fingerprints. The Digital ID is a single sign-on initiative and this is what we are trying to convey to the people. “Fingerprint information and other biometric identifiers are under the (purview of the) Home Ministry and the National Registration Department,” he said in reply to Senator Manolan Mohamad. Earlier, the ministry had also given an assurance that the NDID would not compromise the security of the personal data of the people. It was also said the initiative has been adopted in several countries such as Estonia, Singapore, and the United Arab Emirates. On Nov 21, Anwar announced that the government had appointed the national research and development centre, Mimos Berhad, as the implementing agency for the programme with an initial allocation of RM80 million. – Bernama Kemaman win vital to strength of govt: PM CHUKAI: The Kemaman byelection is crucial to ensure the continued strength of the unity government and its ability to carry out various efforts to safeguard the welfare of the people, said Prime Minister Datuk Seri Anwar Ibrahim. “Bringing about change? We invite Umno, Barisan Nasional (BN), Pakatan Harapan, PKR, DAP, Amanah, GPS, GRS and we try to resolve it,” he said at the Kemaman by-election Mega Perpaduan Madani ceramah in Geliga here on Wednesday night. Anwar urged the Kemaman electorate to vote for the BN candidate Jen (Rtd) Tan Sri Raja Mohamed Affandi Raja Mohamed Noor, who has contributed significantly to the country, in the by-election tomorrow. He said Raja Mohamed Affandi, who is a former defence force chief had to overcome various challenges before being appointed to the highest position in the armed forces. – Bernama Anwar being briefed on a second generation settler housing project at the Felda Seberang Tayor multipurpose hall in Kemaman. – BERNAMAPIC Resolving Felda housing woes a priority: PM CHUKAI: The government will give priority to resolving the housing woes of the second and third generation Felda settlers, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar said a number of proposals had been received in view of the housing woes of Felda settlers. All the proposals would be studied before remedial action can be taken. “There are some who claimed that I only make announcements but no action. However, when I announced about (eradicating hardcore poverty), the initial count was 130,000 (hardcore poor) families. Now we have only 11,000 to 12,000 families. We can resolve these numbers by the year-end. “Malaysia is the first country in the world to resolve the issue of hardcore poor,” Anwar said in his speech when attending an event with the Felda and Ketengah communities at Felda Seberang Tayor here on Wednesday night. He also gave an assurance that the government will continue to uplift the image of Felda to safeguard the prestige of the Malay community. “Within one year, the unity government has carried out many good initiatives. “Believe me, we will continue to bring about changes within our capabilities,” he said. Anwar reiterated his commitment to not tolerate or compromise any attempts to misuse power under his administration. – Bernama King, Queen in UAE for special visit KUALA LUMPUR: The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah and the Raja Permaisuri Agong Tunku Azizah Aminah Maimunah Iskandariah arrived in Abu Dhabi, the United Arab Emirates (UAE) for a special visit which will end on Monday. According to Istana Negara, the special aircraft carrying Their Majesties landed at the Abu Dhabi International Airport at 3.40pm local time (7.40pm in Malaysia) on Wednesday. The visit is in conjunction with the 28th Conference of Parties to the United Nations Framework Convention on Climate Change, which will be held until Dec 12 in Dubai. Their Majesties are accompanied by Pahang Regent Tengku Mahkota Tengku Hassanal Ibrahim Alam Shah Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah. They were received on arrival by UAE Home Minister Sheikh Saif bin Zayed Al Nahyan and Malaysian Ambassador to the UAE, Datuk Seri Ahmad Fadil Shamsuddin. – Bernama Timepieces with audio Quran feature seized KUALA LUMPUR: The Home Ministry seized 703 digital timepieces containing audio of all 30 juzuk (sections) of the Quran estimated to be worth RM230,000 in a raid at a premises in Batu Caves, Selangor. The ministry, in a statement, said the raid, which saw the arrest of two individuals, was carried out by the ministry’s enforcement and control division after it was found that the timepieces did not have the ministry’s approval based on the requirements under the Printing of Quranic Text Act 1986. The public can call 03-8000 8000/8889 3145, email [email protected] or via www.moha.gov.my if they have any information related to unapproved text and materials of the Quran. – Bernama

FRIDAY | DEC 1, 2023 3 Govt to address errant social media ads KUALA LUMPUR: The Communications and Digital Ministry will summon several social media platform operators to discuss issues related to inappropriate advertising content. Minister Fahmi Fadzil said the discussion is aimed at getting clarification concerning inappropriate and offensive advertisements, such as those with sexual content, which should not be displayed in the country. “Typically, the advertisements presented to us are based on what the algorithm thinks we like to watch. For example, if we enjoy watching cars, then more car-related ads are presented to us. So, I understand this issue. “Yes, various social media platforms have their own algorithms, and that is why the issue of algorithms is quite problematic and can result in a kind of tunnel syndrome or echo chamber,” Fahmi said during the Dewan Negara sitting yesterday in reply to Senator Hussin Ismail, who wanted to know the government’s efforts in restricting inappropriate advertisements on social media. Fahmi also said between Oct 1 and Nov 15, a total of 147 hate speech posts or content with elements of hatred related to the PalestinianIsraeli conflict were taken down in collaboration with social media platform operators. He also said Radio Televisyen Malaysia and the National News Agency, as the government’s official media outlets, constantly work to disseminate balanced and objective news, adding that the efforts would help avoid the spread of extreme views, hatred and panic among the public. – Bernama Plan to upgrade Kuching airport KUALA LUMPUR: The Transport Ministry and Malaysia Airports Holdings Berhad (MAHB) plan to acquire land owned by the Sarawak Multimedia Authority (SMA) for a project to upgrade the Kuching International Airport (KIA). Deputy Transport Minister Datuk Hasbi Habibollah said an application would be submitted by the ministry to request the funds to acquire the land, which is next to KIA. “The plan to upgrade KIA can only be implemented after the land is acquired. This is because there are some existing facilities located in the area that need to be moved out first to SMA land,” he said in the Dewan Negara yesterday in response to a question from Senator Datuk Ahmad Ibrahim on plans to upgrade KIA and the Miri Airport. Hasbi said the current capacity of the existing terminal at KIA is five million passengers per annum (mppa), with passenger movement recorded at 5.9 mppa, which is 19% above its design capacity in 2019, adding that KIA handled 4.3 million passengers in 2022. – Bernama Move to educate Orang Asli children KUALA LUMPUR: A total of 373 Orang Asli children have been persuaded to attend classes in 15 schools nationwide as of May, said Education Deputy Minister Lim Hui Ying. She said the Education Ministry has implemented ”Jom Belajar”, a special programme for Orang Asli pupils and the “Chup Badui Sikulah” initiative, to provide access to basic education to Orang Asli children who live in rural areas and have never attended school. “The ministry has always given serious attention to the issue of school dropouts among Orang Asli children, which is caused by the poor living standards in the interior, lack of educational infrastructure and logistics facilities,” she said in response to a question from Tan Kar Hing (PH-Gopeng) about efforts to resolve the issue of dropouts among Orang Asli children. – Bernama Speaker keen to improve quality of debates KUALA LUMPUR: Dewan Rakyat Speaker Tan Sri Dr Johari Abdul wants MPs to do away with party politics and improve the quality of debates in the coming session. He said MPs are responsible for highlighting the concerns of the people in the area they represent and should not just be champions for their political parties. “I would like to remind them that they are paid to come to the Dewan Rakyat to speak on behalf of the people. The moment you enter, that is the right of the people’s time and you have to speak for them. “If we start being jokers and comedians in Parliament, the community will make fun of us and then what happens in Parliament? That is what we want to avoid,” he said on Bernama TV’s Ruang Bicara programme on Wednesday. Johari said MPs also need to prepare themselves by reading about matters that will be raised in the Dewan so that the debate will be more fruitful and mature, thus leading to a more substantive discussion. “For example, there may be a Bill presented by a minister that is flawed. With a good argument, the minister would make the necessary changes and amendments based on the views given,” said Johari, who is also former three-term Sungai Petani MP. He said Parliament is now in the process of preparing a training session for MPs on how to prepare and ask questions during the upcoming Dewan Rakyat session, which is scheduled to be held in February. Johari added that his office is in the process of preparing a more systematic Youth Parliament to increase the interest and involvement of young people. “I am preparing a method on how they can contest. The total (Youth MPs) is 222, just like in Parliament. We are looking at how the youth community can be involved in electing Youth MPs (for their respective constituencies). “Our hope is after they enter the Youth Parliament, they will be members of the Dewan Rakyat from the party they like. Finally, we can see young people fill Parliament with different qualities.” – Bernama Boycott benefits PETALING JAYA: The boycott movement on foreign businesses and products that are allegedly linked to Israel has presented a potential opportunity for the government to globally promote Malaysia’s halal economy, said Monash University economic professor Dr Niaz Asadullah. “The government can take advantage of Malaysia’s standing as a global leader in halal products by exporting to countries boycotting western products,” he said. Niaz was referring to growing calls among locals to boycott popular fast-food chains that are openly supporting Israel amid the Middle East conflict. “Malaysia has maintained its principled stance on the Palestine issue for decades. Local and global brands that share the same principle have an advantage in the current market situation. “This presents an additional opportunity for the government to aggressively promote our halal economy locally and internationally.” He added that Malaysia could build economic resilience in the face of external factors such as boycotts by taking measures to make the consumer market more competitive and diverse, with many brands and providers. “Young Asian consumers are oCampaign prompted by Israeli atrocities opens economic opportunities for businesses on right side of fence: Expert █ BYALLEN WONG [email protected] increasingly favouring pro-social choices. “While they are loyal to global brands, they are also vocal about the causes they believe in. “They won’t hesitate to shun products that they associate with dictatorial and military regimes, as well as apartheid governments. This includes businesses that profit from illegal Israeli settlements.” He also said there is an opportunity for local companies or alternative foreign brands to gain market share if they target Gen Z, which comprises about one-third of the world’s population. “However, this requires vigorous marketing campaigns on social media to promote brands that are sensitive to demands for sustainable and ethical consumption. “Gen Z consumers are digitally connected and more likely to respond to such campaigns,” he said, adding that in the age of social media, boycott effects are strong enough to disrupt the market on the economic level. “In the past, calls for boycotts did not last long enough to make a significant impact. Nowadays, stories of brutalities of the Israeli military go viral within hours. “Political leaders also recognise that today’s digitally connected youths are so much more aware of geo-political developments.” Niaz said for consumers to shift to alternatives, vendors not targeted by the boycott need to promote their products as worthy substitutes. “But it’s only a short window of opportunity for them, given the significant market power and strong loyalty that global brands enjoy. “Moreover, most of the targeted western brands are managed by Malaysian franchises employing locals as service providers. “A shift in demand to be large and across the board should not be expected.” Niaz added that while the boycott is much stronger in the Middle East, with visible impact on selected western businesses in countries like Egypt and Jordan, the boycott movement in Malaysia is also slowly gathering momentum. “Multinational companies and global outlets with actual or perceived economic ties with the Israeli government or businesses profiting from occupied Palestinian territories are vulnerable.” He said several prominent Malaysian public personalities have also endorsed calls for boycotts of certain western brands, and franchises have been quick to take countermeasures. “Businesses are responding to the growing generational shift in demand for sustainable and ethical consumption. “International restaurant chains and brands are likely to become more engaged in social marketing and pay attention to their company’s public engagements in times of crisis. “The overall impact has been less systematic and at best moderate.” See also page 21 SUBMERGED BOUNTY ... Kelantan trader Mat Arifin Yazid taking advantage of the flood softened soil to harvest tapioca at his plot in Kampung Sri Sentosa yesterday. – BERNAMAPIC

FRIDAY | DEC 1, 2023 4 /thesundaily FOLLOW ON FACEBOOK Malaysian Paper Contact theSun's Sales & Marketing team to book your advertising space. Malaysian Paper 03-7784 6688 [email protected] Advertise with us on Chinese New Year Special on JAN 26, 2024 Chinese New Year SPECIAL Let’s welcome the Year of the Dragon with us! In the Chinese culture, the dragon represents good luck, strength and health, and those are what we wish for you, while you check out our Chinese New Year supplement, to let yourself be aware of the current and upcoming festive sales, deals and promotions. PUBLICATION DATE 26 JANUARY, 2024 (Friday) BOOKING DEADLINE 12 JANUARY, 2024 (Friday) Median wage at RM2,600 in June o4.9% increase year-on-year for mostly formal Malaysian workers in private sector PUTRAJAYA: The median wage of Malaysian employees in the formal sector rose by 4.9% in June to RM2,600 compared with the corresponding period last year, chief statistician Datuk Dr Mohd Uzir Mahidin said yesterday. Titled “Employee Wages Statistics (Formal Sector) Report, Second Quarter 2023”, he said the statistical compilation is based on administrative data sources obtained from relevant agencies, which focused on Malaysians who worked mostly in the private sector. Mohd Uzir said the number of Malaysian formal employees in June was 6.6 million persons. “This is a rise of 1.6% compared with the same month in the previous year. The number accounted for nearly two-thirds (64.3%) of the total number of employees in the formal sector. In the meantime, the median monthly wages in June increased by 4.9% year-on-year to RM2,600. “The median monthly wage for male formal employees in June stood at RM2,645 while females, who made up 44.5% (2.94 million) of the total, earned RM2,527. “Also, the detailed wage statistics by age group indicate that those in the 45-49 years age group earned the highest median monthly wages in June at RM3,500.” Mohd Uzir said this age group also received the highest median monthly wage in April (RM3,582) and May (RM3,482). Comparing June with the same month in the previous year, all age groups experienced an increase in median monthly wages, except for those aged below 20 years. “Those in the 60-64 years age group showed the highest year-onyear growth in June with wages increasing by 11.7% to RM2,764.” He said those aged below 20 years enjoyed the highest year-on-year growth (25%) for four consecutive months since January. “Those below 20 years recorded a slower growth of median monthly wages in May, with year-on-year growth at 5.5%. However, their wages remained stagnant in June this year as the base effect of the new minimum wage rate of RM1,500 in 2022 had subsided.” On wages across economic activity in the second quarter of this year, Mohd Uzir said mining and quarrying notably registered doubledigit year-on-year growth in median monthly wages in June at RM5,200. This is despite the sector only representing 0.5% of the total number of formal employees. “All sectors recorded a year-onyear increase in median monthly wage in June, except for the agricultural sector, which registered a decrease of 0.9% to RM1,927.” Mohd Uzir said three states posted greater median monthly wages compared with the national median monthly wages of RM2,600. These were Kuala Lumpur, which registered the highest median monthly wage at RM3,822, Selangor at RM2,945 and Penang at RM2,645. “But Kelantan, Perlis and Sabah registered the lowest median monthly wages at RM1,600, RM1,600 and RM1,800 respectively.” In terms of wage distribution in June, Mohd Uzir said 34.7% of formal employees in Malaysia earned below RM2,000, marking a decrease of 3.6 percentage points from the 38.3% recorded in June last year. Concurrently, Mohd Uzir said some 7.9% of Malaysian formal employees earned wages exceeding RM10,000. “The percentile analysis indicates that the median monthly wages of the highest wage recipient group (90th percentile) is at least five times higher than the median monthly wages of the lowest (10th percentile). “This is also at least three times higher than the median monthly wages of the middle-wage recipient group (50th percentile). “The lowest wage worker category earned the most significant increase of 17% year-on-year in June. This indicates that the median wages for this group has risen sharply from RM1,282 in June last year to RM1,500 in June this year.” All sectors except agriculture recorded a year-on-year increase in median monthly wages in June. – AFPPIC Discarded plastics coming back to haunt us KUALA LUMPUR: Microplastics are tiny pieces of plastics, which themselves are made from fossil fuels. The creation of plastic has been revolutionary, transforming the way we live as it is easy to produce and is lightweight, waterproof and durable. It is also practically immortal, taking hundreds to thousands of years to break down. That longevity is now creating problems for the world. According to the Organisation for Economic Cooperation and Development, 6.1 million tonnes of plastic waste leaked into aquatic environments and 1.7 million tonnes went into oceans in 2019. A 2021 study by Meijer et al. lists Malaysia as the second biggest contributor to ocean plastic pollution although the findings are disputed. Figures from Solid Waste and Public Cleansing Management Corporation (SWCorp) showed some 101,949 tonnes or 13% of trash generated by Kuala Lumpur and Putrajaya residents in 2021 comprised plastic waste. In total, the residents generated 772,349 tonnes of waste that year. The plastic waste breaks down into microplastics or nanoplastics, which are even tinier specks of plastics, categorised as secondary particles, Bernama reported. Primary plastics are tiny particles usually manufactured for domestic use such as “beads that we use in facial cleansers and toothpaste”, said Prof Dr Yusof Shuaib Ibrahim, a marine biologist at Universiti Malaysia Terengganu. Like the ecosystem where plastics have become ubiquitous, so have microplastics in the human body. Studies have found microplastics in the lungs, heart and placenta, among others. A study published by the American Chemical Society showed humans consume between 39,000 and 52,000 microplastic particles per year. It said people who drink their recommended amount of water through only bottled sources may be ingesting an additional 90,000 microplastics annually, compared with 4,000 microplastics for those who consume only tap water. “Microplastics are everywhere. We’re breathing it in every day because it is in the air. It’s in the water that we drink,” said Prof Ting Kang Nee, a pharmacologist at the University of Nottingham Malaysia. Universiti Sains Malaysia Kelantan consultant gastroenterologist Prof Dr Lee Yeong Yeh found out for himself how pervasive microplastics were. In 2017, Yusof, who was Lee’s patient, asked him if he saw any microplastics in his (Yusof’s) body during a check-up. He and Yusof then began a study, testing 11 colon surgical specimens from patients for microplastics. All the samples except two were from cancer patients. “To our surprise, and to some extent – not to say – horror, we found microplastics in all the specimens we collected,” Lee said. Yusof said it would be very easy to get microplastics from seafood, describing it as “worrying” if this continued. Although experts say policy changes are headed in the right direction with the government focusing on eliminating single-use plastics by 2030, changing mindsets is easier said than done. Recycling plastic has failed, with the national recycling rate standing at about 33% in 2022, below the 40% target by 2025. “(People) need to think of ways to change their behaviours to reduce the use of single-use plastics, to start with, ” Ting said, suggesting changing plastic items to ones made of biodegradable materials. Environmentalists have long said Malaysia’s waste strategy should focus on reducing and reusing and having people adopt a zero-waste lifestyle as much as they can. It is an option that has been growing in Malaysia in recent years. █ BYJOSHUA PURUSHOTMAN [email protected]

FRIDAY | DEC 1, 2023 5 PUTRAJAYA: Five new cases of monkeypox (mpox), involving local men, have been detected in Malaysia from Oct 31 to Wednesday, bringing the cumulative number of cases to nine. Health Director-General Datuk Dr Muhammad Radzi Abu Hassan said all the new cases were unrelated to the previous reported cases. The fifth case, confirmed on Nov 10, involved a 40-year-old man who was involved in “risky activities”, and showed symptoms of fever and blistering on Oct 29. The sixth case was a 32-year-old man who showed symptoms of fever and blisters on Nov 7 and was confirmed five days later, while the seventh case involved a 35-year-old man who was a close contact with the sixth case, and exhibited similar symptoms on Nov 11. The eighth case involved a 26-year-old man who had been involved in risky activities in the past, and showed symptoms such as fever, headache, muscle pain (myalgia), swollen glands (lymphadenopathy) and maculopapular rash since Nov 6, and was confirmed on Nov 12. The ninth case involved a 47-year-old man who exhibited fever and rash on Nov 8, Bernama reported. “All the individuals are undergoing isolation at a hospital and are in a stable condition. All have denied travelling abroad within 21 days before the symptoms appeared,” Muhammad Radzi said in a statement yesterday. He added that the disease is caused by the mpox virus, and infection occurs through close contact with infected individuals. The symptoms are fever, with maculopapular rash on the face, palms, soles, genitalia, conjunctiva and cornea. The incubation period before an individual starts showing symptoms is between five and 21 days from the date of contact. “Individuals tested positive for mpox infection can infect others one day before the onset of symptoms, until all blisters have dried. “If mpox is suspected or confirmed, the individual must be isolated until it is confirmed that there is no risk of infection to others,” he said, adding that mpox cases usually heal on their own without the need for special treatment. MYJalan app data to facilitate road repairs KUALA LUMPUR: The information collected through the MYJalan app will serve as master plan for analysing and repairing damaged roads in the country, said Works Minister Datuk Seri Alexander Nanta Linggi. He said the data can be used by the Works Ministry, state governments and local authorities to assist in the formulation of plans, particularly when seeking an allocation from the Finance Ministry for road maintenance. “The ministry has received a total of 5,000 complaints via the MYJalan app since it was launched, and these complaints will be used not only to carry out road repair work but also to collect road related data. “We have also analysed the complaints. Only 27% of the 5,000 complaints received involved federal roads, which fall under the purview of the Works Ministry. “The rest involved roads under the supervision of the state governments and local authorities,” he said when appearing as a guest on RTM’s Selamat Pagi Malaysia programme yesterday. The MYJalan campaign, launched by Prime Minister Datuk Seri Anwar Ibrahim in August, is an initiative by the Works Ministry to provide road users with an additional avenue to make complaints related to road damage. On another matter, Nanta said the adoption of the Open Payment Toll Collection System has provided the public with a variety of options to pay for toll. “Upon assuming office, I expedited and stepped up efforts (towards implementation of the system) and now, there are several highways that offer this service. “It is important because there have been complaints from road users, and the congestion at the toll plazas occurred because we focused on only one method, either Touch ‘n Go or RFID,” he added. – Bernama Five new monkeypox cases detected oIndividuals suspected of contracting disease must be immediately isolated, says Health DG Permanent relief centre initiative lauded KUALA LUMPUR: The proposed construction of permanent disaster relief centres would improve the efficiency of country’s disaster management by making it more systematic and centralised, said Universiti Malaysia Perlis Faculty of Civil Engineering and Technology senior lecturer Dr Zulkarnain Hassan. He said such centres are critical, particularly in areas prone to frequent natural disasters, adding that they should have facilities that are conducive, unlike temporary relief centres where evacuees were required to share space and facilities. The proposed facilities include proper bedding, toilets, prayer room, laundry area, kitchen and dining space. Universiti Teknikal Malaysia Melaka Faculty of Technology and Electronic and Computer Engineering lecturer Assoc Prof Dr Mohd Riduan Ahmad described the proposal as practical, given that several states are often hit by floods during the monsoon season. However, he said the construction of the centres should take into account a number of factors, including diversifying its usage and regular maintenance of permanent infrastructure after the flood season. “The materials used for the construction of the centres are also important, and I believe that using prefabricated buildings would be more practical,” he said. Meanwhile, Malaysian Ecological Society president Prof Dr Ahmad Ismail said the centres should be built for many functions so that it can be used throughout the year. “A study needs to be carried out to ensure that they do not only provide shelter to flood evacuees but can also be used for other purposes.” Last Tuesday, Prime Minister Datuk Seri Anwar Ibrahim said that the centres would be established immediately, with a pilot project to begin in nine states. Anwar, who is also finance minister, said the project involves a ceiling cost of RM5 million for each centre and is set to provide better protection for evacuees compared with temporary relief centres. – Bernama Call for probe on Penang warehouse collapse GEORGE TOWN: The Consumers Association of Penang (CAP) has called for the immediate creation of a commission of inquiry to investigate the collapse of a logistics warehouse under construction in Batu Maung on Tuesday. Its president Mohideen Abdul Kader said CAP also wants the relevant authorities to conduct a comprehensive investigation to determine the cause of the incident. “The Penang Island City Council, Construction Industry Development Board and the Occupational Safety and Health Department should thoroughly investigate the incident, and take strict action against those responsible,” he said in a statement yesterday. Mohideen said given the proximity of the incident site to the beach, which is composed of sand and gravel, any structure built in the area must be completely safe. He also called for all safety measures to be considered, especially involving geological studies. In the 10pm incident, three Bangladeshi workers were killed and another two, who were critically injured, are receiving treatment at the Penang Hospital. Mohideen also cited two major incidents in the past, namely the collapse of a section of scaffolding on the Penang Second Bridge and the collapse of part of a wall at a 21-storey building, which a Commission of Inquiry later attributed to incompetence and negligence. – Bernama Aerospace centre plan for Malacca MALACCA: The proposed establishment of an aerospace centre at the Malacca International Airport is one of the outcomes of the state government’s investment mission abroad, said Chief Minister Datuk Seri Ab Rauf Yusoh. He said the state government met an Italian company that owns 15 helicopters in Malaysia to discuss making the airport a centre for aircraft maintenance, repair and overhaul (MRO). “The (plan is) for the company is to use the airport as an MRO centre. I have also spoken to (Transport Minister Anthony Loke) about upgrading the airport as an aerospace centre,” he told the state assembly yesterday in reply to a question from Datuk Seri Sulaiman Md Ali (BN-Lendu) about the outcome of his work trip abroad, adding that the aerospace centre would create about 1,000 new job opportunities in the state. – Bernama STAPLE BARGAINS ... Kuantan residents buying essential items during a Rahmah Sale held near the Bukit Setongkol Mosque in Pahang yesterday. – BERNAMAPIC

FRIDAY | DEC 1, 2023 6 @thesundaily FOLLOW ON TWITTER Malaysian Paper ‘Restaurant in cross issue not halal-certified’ oSacking of staff over incident done at discretion of owner, not due to violation of regulations: Islamic Dept KUALA LUMPUR: The Islamic Development Department said a Chinese Muslim restaurant that fired a non-Muslim employee for wearing a necklace bearing a cross, does not possess a halal certificate. Netizens had questioned the halal status of the restaurant after a video on social media showed him wearing the cross and a songkok. The restaurant, which is renowned for Chinese-style beef buns made with locally sourced ingredients, dismissed the worker on Nov 19 and issued an apology to the public. “We found that the premises is not bound by the requirements and conditions of a halal certification,” a department spokesman said, adding that the Malaysian Halal Certification Procedure Manual (Domestic) 2020 does not prevent non-Muslims from working at halal-certified eateries. “Premises that have at least one Muslim employee, who is a Malaysian citizen with a permanent position and is on duty throughout the business hours or shift, can apply for a halal certificate. “The company also needs to have a halal supervisor at the premises. All employees must attend awareness training every three years to ensure that the halal certification procedures are understood and followed.” Selangor Islamic Religious Department director Datuk Mohd Shahzihan Ahmad said they do not have specific regulations on non-Muslim employees working in Muslim restaurants. “Labour regulations established through employment contracts, or by government agencies directly overseeing business operations, remain applicable. “The decision to hire or restrict non-Muslim employees rests with the restaurant owner or manager. It may stem from the owner’s preference to ensure adherence to halal food preparation practices, considering the predominantly Muslim population,” he said, adding that possession of a halal certificate is voluntary. “An applicant interested in obtaining a certificate may apply and if all conditions are met, it will be issued. If there is a complaint, especially if it involves doubts on the halal status of the food or violation of the law, we will investigate and take action under the Trade Descriptions Act 2011. “If an employee is disciplined for wearing a religious symbol, then that is the restaurant owner’s decision and may require further explanation. It is up to the employer, so long as it does not contravene labour laws,” he said, adding that Muslim restaurants should adhere to halal standards. “Restaurants need to enhance halal education and training for staff, implement strict operational controls for halal food preparation and serving, and obtain a halal certification to boost customer confidence. “They should also provide accurate information about their halal status and collaborate closely with the authorities to curb the circulation of rumours.” Mohd Shahzihan advised the public against reacting to social media posts without confirming facts, especially when religious matters are involved. “We caution against hasty reactions. Social media users should seek credible information and verify facts before sharing information online.” Allaudeen inspecting a lineup during the Kuala Lumpur police monthly assembly at the city contingent headquarters yesterday. – BERNAMAPIC Cop suspect in kidnap case suspended KUALA LUMPUR: One among three policemen suspected of kidnapping a Bangladeshi journalist has been suspended, said city police chief Datuk Allaudeen Abdul Majid, adding that similar action on the other two will be considered pending the outcome of an investigation. “We are awaiting further developments as the case is (also) being investigated by Selangor police. We have taken action by suspending the policeman concerned,” he said after the Kuala Lumpur police monthly assembly at the contingent headquarters yesterday. It was reported that the journalist in his 30s, who declined to be identified, alleged he had been kidnapped and tortured for three days at a house in Klang by locals claiming to be policemen. He added that he was beaten, caned, kicked in the stomach and had his hands bound by the men, who demanded RM1.9 million for him to be set free. On another matter, Allaudeen said the crime index for Kuala Lumpur showed a drop of 10%, or 410 cases, from Jan 1 to Oct 30, compared with 4,173 cases in the same period last year. He also said violent crime was down 14%, equivalent to 122 cases, in October compared with 895 cases in the same period last year. “Property crime was down by 288 cases,” he said, adding that the Narcotics Criminal Investigation Department seized various types of drugs worth RM101 million from January to October compared with RM122 million last year. “The comparative statistics of arrests from January to September showed an increase of 481 individuals to 12,199, compared with 11,718 in 2022.” Allaudeen said the eradication of white collar crime continues to record success as 1,439 raids were conducted involving online crime while 83 investigation papers related to call centres were opened, along with the arrest of 1,023 individuals from January to October. He added that 57,437 traffic summonses were issued, while the current prosecution rate stood at 98.75%. – Bernama Dept confirms rubber tapper killed by tiger GUA MUSANG: The Wildlife and National Parks Department has confirmed that a Malayan tiger, or Panthera tigris jacksoni, fatally attacked an Indonesian rubber plantation worker in Kampung Kuala Tol. Its Kelantan director Mohamad Hafid Rohani said investigations were carried out after police retrieved the body of the victim, adding that his office was informed of the incident by the Gua Musang district police headquarters. “A search and rescue team arrived at the scene at 5pm,“ Mohamad Hafid said in a statement yesterday. It was reported on Wednesday that the body of an Indonesian worker had been found in a gruesome condition, believed to have been mauled by a tiger. Police identified the victim as Shabaini, 36, whose body was found with injuries on the front of the neck, his right hand, two big toes and his lower body mutilated. According to Mohamad Hafid, the department received a report on Nov 20 that a tiger had been sighted in the area. “Investigations were carried out by the department on the same day. Workers in the area were advised to clear undergrowth and work in groups.” He said they also installed 10 tiger traps and cameras in the district. – Bernama Mule account holders nabbed BALIK PULAU: Police have arrested two women who are believed to be mule account holders for a syndicate that cheated individuals with nonexistent crypto investments, resulting in losses of RM459,972. Southwest district police chief Supt Kamarul Rizal Jenal said the women, both aged 22, were detained in Kota Damansara, Selangor on Tuesday. Based on preliminary investigations, they are also believed to have involved other individuals in criminal activities. “The individual (who was cheated) is a 26-year-old restaurant owner. She made several transfers totalling RM459,972 to 10 different accounts “The case is being investigated under Section 420 of the Penal Code.” In another case, Kamarul Rizal said police arrested a 70-year-old woman, who is believed to be a mule account holder for a syndicate dealing in nonexistent car purchases through Facebook, which resulted in an individual being duped of RM29,160. – Bernama Man charged with attempted murder TELUK INTAN: A lorry attendant, who is believed to be a member of a robbery gang known as “Geng Bulat”, was charged in the Sessions Court yesterday with attempting to murder a policeman. Mohamad Hafiz Naharoddin, 28, pleaded not guilty to the charge before Judge Intan Nurul Farena Zainal Abidin. He was charged with attempting to kill Cpl Nik Mohd Khairul Izwan Nik Jid by driving a car dangerously on the road, with the intention or knowledge that the act could cause death. The charge, framed under Section 307 of the Penal Code, carries imprisonment of up to 20 years and a fine. The court allowed Mohamad Hafiz bail of RM10,000 in one surety. – Bernama █ BYQALIF ZUHAIR [email protected]

FRIDAY | DEC 1, 2023 7 China too ‘overwhelmed’ to consider invasion TAIPEI: China’s leadership is too “overwhelmed” with its internal problems to consider an invasion of Taiwan, President Tsai Ing-wen said in an interview with the New York Times. China, which views democratically governed Taiwan as its own territory, has ramped up military pressure against the island over the past four years, leading to concerns of a conflict that would have global repercussions. But Tsai, in a transcript of the New York Times DealBook Summit interview her office published yesterday, said China had too many issues at the moment. “Well, I think the Chinese leadership at this juncture is overwhelmed by its internal challenges. And my thought is that perhaps this is not a time for them to consider a major invasion of Taiwan,” she said. “Largely because the internal economic and financial as well as oLeadership facing internal challenges such as economic, financial and political issues, says Taiwan president political challenges but also the international community has made it loud and clear that war is not an option, and peace and stability serves everybody’s interests.” Asked about Tsai’s comments, China’s defence ministry said: “China will eventually and surely be reunified”. “The People’s Liberation Army will take all necessary measures to firmly safeguard China’s sovereignty and territorial integrity,” ministry spokesperson Wu Qian told a monthly news briefing in Beijing. Tsai and her government have repeatedly called for talks with China but been rebuffed as Beijing views Tsai and the ruling Democratic Progressive Party (DPP) as separatists. Tsai said only Taiwan’s people can decide their future. Taiwan is in the middle of campaigning for presidential and parliamentary elections to be held on Jan 13. The DPP’s Lai Ching-te, currently vice-president, is the frontrunner to be Taiwan’s next president according to opinion polls. Tsai said it was “no secret” that China was trying to interfere in Taiwan’s elections. “But I think they’re probably not particularly successful in their effort of trying to influence the election here. Primarily, because this is a democracy and people know that they have made their best decisions as to who is going to be the next leader of Taiwan,” she added. China’s Taiwan Affairs Office on Wednesday stepped up its attacks on Lai and his running mate Hsiao Bi-khim, formerly Taiwan’s envoy to the US. “Taiwan independence means war. The DPP pushing this dangerous independence double act will only poison the interests and well-being of compatriots on the island,” spokesperson Chen Binhua told a news conference. Speaking to reporters in Taipei yesterday, top China-policy maker Chiu Tai-san dismissed Beijing’s criticisms. “Honestly speaking, those comments show they don’t even know what democratic politics and elections are,” said Chiu, who heads Taiwan’s Mainland Affairs Council. – Reuters COLOURFUL DECOR ... A vendor works on a Christmas star lantern, locally known as parol, at a street market in Quezon City, Metro Manila, Philippines yesterday. – REUTERSPIC Australia raises bushfire risks ahead of El Nino summer SYDNEY: Australia faces an increased risk of bushfires during the approaching summer, authorities warned yesterday, with the El Nino weather pattern expected to generate hotter and drier conditions across large swathes of the country. Three years of incessant rain has increased vegetation, but the intense heatwaves common during Australia’s December-February summer can quickly turn this into tinder-dry bushland, fuelling fires. Climate change has amplified the country’s weather extremes in recent years, experts say. “Compared with the spring outlook, more capital cities are now facing increased risk,” Emergency Management Minister Murray Watt said in a statement, urging residents to update their bushfire plans and pack emergency and evacuation kits. Australia sweltered in an intense spring heat wave in September that sparked dozens of bushfires, prompting authorities to issue a fire ban for Sydney, though recent rain across the east has doused many fires. Those record dry conditions and above-average temperatures are expected to continue well into 2024, the National Council for Fire and Emergency Services said in its bushfire outlook yesterday. Some areas burnt during the 2019 to 2020 “Black Summer” fires, which destroyed an area the size of Turkiye and killed 33 people, could come under threat again this summer, the report said. Australia declared an El Nino weather pattern, which usually brings below-average rain and above-average daytime temperatures, was under way in September. “We are now looking at a potentially very challenging summer ourselves. Everything we see now is happening in the context of climate change on a planet that is now hotter and more volatile,” said Simon Bradshaw, research director at the independent nonprofit Climate Council. Even though rain set records in November for some places in Australia’s east, climate experts expect the coming bushfire season to be the worst in about four years. The Bureau of Meteorology said it was not unusual to have wet weather during El Nino as it increases but does not guarantee drier conditions. – Reuters S’pore aircraft deployed to deliver urgent aid to Gaza SINGAPORE: The island state has deployed a Republic of Singapore Air Force (RSAF) aircraft to deliver lifesaving supplies for civilians in Gaza, the Foreign Ministry and Defence Ministry said. An RSAF Multi-Role Tanker Transport conveying humanitarian assistance departed from Changi Air Base (East) for Egypt in the early hours of yesterday, according to a joint statement by both ministries today. Singaporeans have donated more than SG$7 million (RM24 million) in cash and in-kind to support relief efforts in Gaza, said the statement. “Singaporeans are deeply concerned for the civilians in Gaza who are facing a severe humanitarian crisis due to the war,” said Foreign Minister Dr Vivian Balakrishnan. “We are grateful for the generous outpouring of support and fundraising by the Singapore Red Cross (SRC), Rahmatan Lil Alamin Foundation, Mercy Relief, Relief Singapore and nongovernmental organisations (NGOs),” he added. The republic extended its gratitude to the government of Egypt and the Egyptian Red Crescent (ERC) for their support in facilitating the delivery to Gaza. According to the statement, the package comprises medical supplies, pharmaceuticals, blankets, sanitation items, water filters and food. It was contributed by the Health Ministry, SAF and NGOs, including SRC, Mercy Relief, and Relief Singapore. The statement said MFA had engaged the ERC to determine what supplies were most needed. The SAF’s Changi Regional Humanitarian Assistance and Disaster Relief Coordination Centre (RHCC) led efforts to coordinate and consolidate aid from participating agencies. “This package is Singapore’s second tranche of humanitarian assistance for Gaza,” said the statement. The statement said Singapore’s ambassador to Egypt, Dominic Goh, will witness the handover of the humanitarian package to the ERC upon arrival in Egypt. “Singapore will continue to work closely with our partners to offer additional assistance and support to the affected communities. We urge all parties to allow the immediate, safe and unhindered provision of humanitarian assistance to those affected in Gaza,” said the joint statement.– Bernama Thai hostages set to return after release by Hamas BANGKOK: Seventeen Thai hostages kidnapped and held for weeks by Hamas in the Gaza Strip returned home yesterday to be met by overjoyed relatives at the Bangkok airport. At least 32 Thais were abducted by Hamas, with Bangkok’s foreign ministry and Thai Muslim groups working to negotiate their release. The 17 hostages landed at the capital’s Suvarnabhumi airport following weeks in captivity. Accompanying them is Thai Foreign Minister Parnpree Bahiddha-Nukara, who flew to Israel earlier this week. Ten of the group were released last Friday, as a truce began following weeks of negotiations brokered by Qatar, Egypt and the US. Seven more were set free by Hamas in the days that followed. The group has been recuperating at a hospital in Israel as authorities made preparations to fly them home, Thai officials said. Four more Thais were released on Wednesday and are undergoing medical checks, the foreign ministry said, taking the total number freed to 23, with nine still in captivity. Thailand had 30,000 citizens in Israel when the raid occurred, the majority of them migrant workers from poorer provinces in the kingdom’s northeast. A total of 39 Thais have been killed and 19 wounded in the war, with the kingdom evacuating more than 8,500 of its people, according to Bangkok’s foreign ministry. – AFP

FRIDAY | DEC 1, 2023 8 @thesundaily FOLLOW ON Malaysian Paper INSTAGRAM Kazakhs wary of return to nuclear testing SARYZHAL: As Russia warns of the rising risk of nuclear war, and relations with the US sink into a deep freeze, communities close to the vast Soviet-era nuclear testing site in northern Kazakhstan have a message for leaders: “Let us be a lesson”. Hundreds of tests were carried out between 1949 and 1989 on the barren steppe near the city of Semey, formerly known as Semipalatinsk, close to the Kazakh-Russian border. The effect of radiation had a devastating impact on the environment and local people’s health, and continues to affect lives there today. Many nuclear proliferation experts believe resuming testing by either nuclear superpower more than 30 years after the last test is unlikely soon. But tensions over Russia’s invasion of Ukraine have led to increasingly hostile rhetoric, and the arms control architecture built since the Soviet Union’s collapse more than three decades ago has begun to unravel. In early November, President Vladimir Putin revoked Russia’s ratification of the 1996 global treaty banning nuclear weapons tests. Moscow said it will not lead to a resumption of testing unless the US does first. – Reuters Kissinger, diplomat and Nobel laureate dead at 100 WASHINGTON: Henry Kissinger, a diplomatic powerhouse whose roles as a national security adviser and secretary of state under two presidents left an indelible mark on US foreign policy and earned him a controversial Nobel Peace Prize, died on Wednesday at age 100. Kissinger died at his home in Connecticut, according to a statement from his geopolitical consulting firm, Kissinger Associates Inc. No mention was made of the circumstances. It said he would be interred at a private family service, to be followed at a later date by a public memorial service in New York City. Kissinger had been active late in life, attending meetings in the White House, publishing a book on leadership styles, and testifying before a Senate committee about the nuclear threat posed by North Korea. In July 2023 he made a surprise visit to Beijing to meet Chinese President Xi Jinping. During the 1970s in the midst of the Cold War, he had a hand in many of the epoch-changing global events of the decade while serving as oFormer secretary of state to be interred at private family service national security adviser and secretary of state under Republican President Richard Nixon. The German-born Jewish refugee’s efforts led to the US diplomatic opening with China, landmark US-Soviet arms control talks, expanded ties between Israel and its Arab neighbors, and the Paris Peace Accords with North Vietnam. Kissinger’s reign as the prime architect of US foreign policy waned with Nixon’s resignation in 1974 amid the Watergate scandal. Still, he continued to be a diplomatic force as secretary of state under Nixon’s successor, President Gerald Ford, and to offer strong opinions throughout the rest of his life. While many hailed Kissinger for his brilliance and broad experience, others branded him a war criminal for his support for anti-communist dictatorships, especially in Latin America. In his latter years, his travels B R I E F STEN INJURED IN RUSSIAN ATTACK KYIV: Ukraine said yesterday that 10 people, including a toddler, were injured by simultaneous Russian strikes on three towns in the eastern Donetsk region, with five more missing under rubble. The industrial region has seen some of the fiercest fighting of Russia’s nearly two-year invasion, with the Kremlin claiming to have annexed it last year. Ukraine’s Interior Minister Igor Klymenko said Russian forces fired six S-300 rockets on Pokrovsk, Novogrodivka and Myrnograd. “As a result of shelling, 10 people were injured, including four children. Five more people are being searched (for) under the rubble,” he said on social media. In Pokrovsk, Klymenko said the sixmonth-old baby was wounded alongside boys of 13 and 16. Russian forces and their proxies have controlled large swathes of the Donetsk region since 2014, when large-scale pro-democracy protests in Ukraine led to a separatist conflict in the east. – AFP MORE THAN A MILLION DISPLACED IN FLOODS MOGADISHU: More than a million people have been displaced in Somalia after the country was hit by severe flooding caused by torrential rains, the Somali president said. Somalia and its Horn of Africa neighbours Kenya and Ethiopia are battling flash floods caused by heavy rainfall linked to the El Nino weather pattern. The floods are exacerbating the humanitarian crisis in the region just as it emerges from the worst drought in four decades that left millions of people hungry. “My brothers, our country is in a critical state and our people have been affected by the flooding everywhere,” President Hassan Sheikh Mohamud said on Wednesday evening. He said that 101 people had died in the flooding. Authorities in Mogadishu declared a state of emergency this month over the disaster, and have warned against the proliferation of disease. – AFP US military urged to ground Osprey aircraft TOKYO: Japan said it has asked the US to suspend all non-emergency V-22 Osprey flights over its territory after one fell into the sea on Wednesday in western Japan, marking the country’s first fatal US military plane crash in five years. The US Air Force said the cause of the mishap during a routine training mission, which killed at least one person, is currently unknown. Search and rescue operations to find the remaining seven crew are ongoing. “The occurrence of such an accident causes great anxiety to the people of the region and we are requesting the US side to conduct flights of Ospreys deployed in Japan after these flights are confirmed to be safe,” Minoru Kihara said in parliament yesterday. The Japan Self-Defense Forces (SDF), which also operates Ospreys, will suspend flights of the transport aircraft until the circumstances of the incident are clarified, another defence ministry official said. A spokesperson for US military forces in Japan did not immediately respond to a request for comment. “Our focus is on the ongoing search and rescue operations, and we’re praying for a safe return,” Rahm Emanuel, the US ambassador to Japan, said in a post on X. Witnesses said the aircraft’s left engine appeared to be on fire as it approached an airport for an emergency landing in clear weather and light winds, media reported. Developed by Boeing and Bell Helicopter, the hybrid V-22, which can land and take off like a helicopter and fly like a fixed-wing aircraft, is operated by the US Air Force, Marines and Navy, and the SDF. The deployment of the aircraft in Japan has been controversial, with critics of the US military presence in the southwest islands saying it is prone to accidents. The US and Japan say it is safe. Japan hosts the biggest overseas concentration of US military power, with the country home to the only forward-deployed US carrier strike group, its Asian airlift hub, fighter squadrons and a US Marine Corps expeditionary force. – Reuters A Japan Coast Guard vessel and a helicopter conduct a search and rescue operation at the site where the Osprey crashed yesterday. – REUTERSPIC were circumscribed by efforts by other nations to arrest or question him about past U.S. foreign policy. His 1973 Peace Prize was awarded for ending American involvement in the Vietnam War but it was one of the most controversial ever. Two members of the Nobel committee resigned over the selection as questions arose about the secret US bombing of Cambodia. North Vietnamese diplomat Le Duc Tho was selected to jointly receive the award but declined it. Ford called Kissinger a “super secretary of state” but also noted his prickliness and self-assurance, which critics were more likely to call paranoia and egotism. Even Ford said, “Henry in his mind never made a mistake”. “He had the thinnest skin of any public figure I ever knew,” Ford said in an interview shortly before his death in 2006. With his dour expression and gravelly, German-accented voice, Kissinger possessed an image of both a stuffy academic and a ladies’ man, squiring starlets around Washington and New York in his bachelor days. Power, he said, was the ultimate aphrodisiac. Voluble on policy, Kissinger was reticent on personal matters, although he once told a journalist he saw himself as a cowboy hero, riding off alone. – Reuters

FRIDAY | DEC 1, 2023 9 Mediators race to extend truce as expiry looms oPressure on both sides to extend pause to allow more hostage releases, additional aid into Gaza GAZA: A truce between Israel and Hamas entered its final hours yesterday with mediators racing to reach agreement on another extension after a final exchange of hostages for Palestinian prisoners. The six-day halt to fighting was supposed to end y e s t e r d a y morning, with a last group of hostages freed from Gaza overnight in exchange for dozens of Palestinian prisoners. There is pressure for both sides to extend the pause to allow more hostage releases and additional aid into devastated Gaza, with US Secretary of State Antony Blinken arriving in Israel for talks on Wednesday night. The truce has brought a temporary halt to fighting that began on Oct 7. Israel’s air and ground campaign in Gaza has killed nearly 15,000 people, also mostly civilians, according to Hamas officials, and reduced large parts of the north of the territory to rubble. The truce agreement allows for extensions if Hamas can release another 10 hostages a day, and a source close to the group said on Wednesday that it was willing to prolong the pause by four days. “The movement would be able to release Israeli prisoners that it – other resistance movements – and other parties, hold during this period, according to the terms of the existing truce,” the source added. But a source from the group later said it was not satisfied with Israel’s proposals for an extension. “What is being proposed in the discussions to extend the truce is not the best,” the source told AFP. Israel’s war cabinet was meeting late on Wednesday over the possible extension, media reports said. As discussions continued, 10 more Israeli hostages were freed under the terms of the deal, with another four Thai hostages and two Israeli-Russian women released outside the framework of the arrangement. A video released by Hamas showed masked gunmen handing hostages to the International Committee of the Red Cross. Among those freed was Liat Beinin, who also holds American citizenship, and works as a guide at Israel’s Holocaust museum Yad Vashem. US President Joe Biden said he was “deeply gratified that she will soon be reunited with her three children and her father, who have been wracked with worry”. “This deal has delivered meaningful results,” he said of the truce arrangement, thanking the leaders of Israel, Egypt and Qatar for their “ongoing commitment to bring every hostage home and to get more aid to the innocent people of Gaza”. Shortly after the hostages arrived in Israel, the country’s prison service said 30 Palestinian prisoners had been released, including well-known activist Ahed Tamimi. Since the truce began on Nov 24, 70 Israeli hostages have been freed in return for 210 Palestinian prisoners. Israel has made clear it sees the truce as a temporary halt intended to free hostages, but there are growing calls for a more sustained pause in fighting. UN Secretary-General Antonio Guterres demanded a “true humanitarian ceasefire”, warning Gazans are “in the midst of an epic h u m a n i t a r i a n catastrophe”. BEIJING: China called on the United Nations Security Council yesterday to formulate a “concrete” timetable and roadmap for a two-state solution to achieve a “comprehensive, just and lasting” settlement of the Palestinian issue. The proposal was laid out in a paper stating China’s position on resolving the Palestinian-Israeli conflict released by the Chinese foreign ministry, and as China took over the rotating presidency of the Security Council for November. The 15-member council needs to intensify its diplomatic mediation, relaunch the two-state solution and convene a “more authoritative and effective” international peace conference as soon as possible, the paper said. It urged the council to heed the general call of the international community for a “comprehensive ceasefire” to stop the fighting. Since the start of hostilities in October, Beijing has refrained from condemning Hamas but instead said it opposed acts that harm civilians and sought for deescalation and a two-state solution. China’s foreign minister Wang Yi, who chaired a high-level Security Council meeting on the Gaza conflict on Wednesday in New York, urged for a lasting truce in the embattled territory and warned against the conflict from spilling over to the entire Middle East region. “Peace cannot be limited and the ceasefire cannot have an expiration date,” China’s official Xinhua news agency cited Wang as saying. “Once the window of opportunity is open, it should not be closed, and once the fire has been extinguished, it cannot be rekindled,” he said while meeting the press. Wang also said China will provide a new batch of emergency humanitarian supplies to Gaza. International calls for Israel and Hamas to further extend a truce in Gaza have intensified. China’s President Xi Jinping yesterday also reiterated Beijing’s support to the Palestinians’ quest for statehood. “The crux of the PalestinianIsraeli conflict lies in the delay in the realisation of the legitimate national rights of the Palestinian people to establish an independent state,” Xinhua cited Xi as saying in a congratulatory message to a conference commemorating the International Day of Solidarity with the Palestinian People, a UN-led observance. “The bitter lessons of the cycle of the Palestinian-Israeli conflict fully demonstrate that only by upholding the concept of common security can sustainable security be achieved,” Xi said. He called on the Security Council to shoulder its responsibilities and make efforts to promote an end to the fighting, protect the safety of civilians and stop the humanitarian catastrophe. – Reuters Two dead, eight wounded in Jerusalem shooting JERUSALEM: Two people were killed and eight wounded, including five left in a serious condition, in a shooting in Jerusalem on Thursday, first responders said. Police said two suspects “implicated in the shootings were neutralised on the spot” after the attack near a bus stop on the western side of Jerusalem, where there are no checkpoints guarding entrance to the city. “Two terrorists arrived in a car, one of them armed with an M-16 and the other with a pistol,“ and opened fire, Jerusalem police chief Doron Torgeman told reporters at the scene. The Magen David Adom emergency service said one of the victims was a 24- year-old woman. The attack came shortly after a truce pausing fighting in the Gaza Strip between Hamas and Israel was extended for a seventh day, moments before it was due to expire. Two weeks ago an Israeli soldier died after being shot in an attack on a checkpoint on the eastern side of Jerusalem at the entrance to a tunnel linking the occupied West Bank with the city. Another five Israeli security personnel were also wounded, with Israeli police shooting dead all three assailants. That attack was claimed by the armed wing of Hamas, the Ezzedine alQassam Brigades. – AFP B R I E F SU.S. WARSHIP SHOOTS DOWN DRONE WASHINGTON: A US Navy warship shot down a drone on Wednesday launched from a part of Yemen controlled by Iran-backed Huthi rebels, the American military’s Central Command said. The Huthis, who control much of Yemen and are part of an “axis of resistance” arrayed against Israel, have launched a series of drones and missiles since the start of the Israel-Hamas war last month. “At approximately 1100 hours (Sanaa time), while in the South Red Sea, the Arleigh-Burke Class Guided Missile Destroyer USS Carney (DDG 64) shot down an Iranian-produced KAS04 unmanned aerial vehicle launched from Huthi-controlled areas of Yemen,” CENTCOM said in a statement. “Although its intentions are not known, the UAV was heading toward the warship,” which was escorting a US Navy oiler and a US-flagged ship carrying military equipment, it said, adding that “there were no injuries to US personnel and no damage to US vessels”. – AFP MAN CHARGED IN PLOT TO KILL SEPARATIST WASHINGTON: An Indian national has been charged with plotting to assassinate a Sikh separatist leader on US soil, the Justice Department said on Wednesday, alleging an Indian government official was also involved in the planning. The Justice Department unsealed murder-for-hire charges against Nikhil Gupta, 52, “in connection with his participation in a foiled plot to assassinate a US citizen” of Indian origin in New York City, it said in a statement. The man allegedly targeted in the killing “is a vocal critic of the Indian government and leads a US-based organisation that advocates for the secession of Punjab”, a northern Indian state with a large population of Sikhs. – AFP A resident hangs a Palestinian flag on the ruins of his house that was destroyed by Israeli strikes. – REUTERSPIC China seeks ‘concrete’ roadmap for two-state solution

10 FRIDAY | DEC 1, 2023 Or download app on the AppStore or Google Play ENJOY A SEAMLESS READING EXPERIENCE. Read our iPaper at https://www.thesun.my/ Offering lifeline to refugee women I MAGINE a small boat packed with hundreds of refugees adrift on the vast sea, their desperation, weight of uncertainty and fear mingling with an unwavering determination to survive. Despite the odds, they brave the risks, propelled by the yearning for a chance at life. Some do not make it, succumbing to the journey. Every life jacket represents a new hope, a fresh start and a challenging journey ahead. Upon reaching unfamiliar shores, they face a new struggle, hoping for refuge, but are left in a state of limbo as Malaysia is not bound by the 1951 Refugee Convention. Why do refugees choose Malaysia? They seek refuge from civil war, human rights abuses, religious conflicts, political persecution and natural disasters. Malaysia’s strategic location in Southeast Asia makes it a close and fitting destination for those affected by conflicts and war in countries such as Myanmar, Yemen, Afghanistan, Pakistan, Somalia and Sri Lanka. As Malaysians, how can we effectively uplift and empower a diverse community of people from various origins? Since 2020, the El Shaddai Refugee Learning Centre has partnered with UNHCR (United Nations High Commissioner for Refugees) on a vital project, providing a safe haven for atrisk refugee women and children. The primary goal of this shelterhome is to offer safety, inclusivity, support and empowerment to these vulnerable individuals. It focuses on assisting single mothers and girls facing challenges such as child marriage, abuse, violence, release from detention and homelessness. With over eight nationalities, each bringing diverse cultures, backgrounds, religions and lifestyles, the centre prioritises respect, acceptance and love among its community. It facilitates holistic development across five key areas: physical (providing food and medicine), intellectual (offering education), social (engaging in exercise, outings and family dinners), emotional (providing counselling) and spiritual (encouraging prayer). However, providing only food and shelter is not a sustainable long-term solution. Thus, social enterprise L2L Yummy Bites was launched. This initiative aims to empower single mothers through baking and catering services, enabling them to build sustainable lives in Malaysia and support their families in war-torn countries. The project goes beyond addressing poverty, actively reducing vulnerability to oppression and exploitation by equipping these women with a valuable skill recognised by society. L2L Yummy Bites is dedicated to offering the community with baking skills, basic business management knowledge and entrepreneurial training. A testimonial from one of the single mothers highlights the impact of this endeavour: “I wanted to study, but it was impossible because I had a baby at a young age. L2L Yummy Bites gave me a chance to learn baking while providing a safe place for my child at the shelter. It is more than an opportunity, it is a lifeline.” This collaborative effort has not only positively impacted refugee women but has also imparted three crucial lessons to me. Firstly, it underscored the power of partnerships. With the backing of SDG (Sustainable Development Goals) organisations and individuals, I secured sufficient funds for renovations, converting the yard into a kitchen and the study area into a bakery. My aspiration is to cultivate additional partnerships with cafes, restaurants and hotels to empower more refugee single mothers who feel marginalised in the community. Partnerships are not just about organisations working together, they signify individuals and communities uniting to make a difference. Secondly, emphasising advocacy and awareness. I appreciate the opportunities to set up booths in universities and shopping malls, selling food and pastries while raising public awareness about refugees. We must speak up for those without a voice, especially those who have been bullied, discriminated against and exploited. We play a vital role in shedding light on their needs, challenges, struggles and pain through advocacy efforts and on social media platforms. Empowerment is more than a concept, it is a transformative force. It involves establishing self-sustaining initiatives and nurturing leaders to continue these efforts over time. As we navigate the path toward a more inclusive Malaysia, let us realise that empowering this diverse community enriches our nation. It goes beyond providing basic rights, it is about welcoming them as equals, embracing their stories, resilience and contributions. Their journey is one of courage, and their dreams are as valid as anyone else’s. They, too, harbour dreams of fulfilment, yet, often face roadblocks. The question remains: “Can we be the spark that ignites their dreams and lights the way forward?” The writer is the guardian of the shelter home and the project manager of L2L Yummy Bites. The article is a collaborative effort with mySDG Academy, the training arm of the All-Party Parliamentary Group on Sustainable Development Goals. Its goal is to increase awareness and disseminate valuable insights about individuals and organisations working towards the promotion of SDGs. Comments: [email protected] “The primary goal of this shelter-home is to offer safety, inclusivity, support and empowerment to the vulnerable refugee women and children. L2L Yummy Bites offers the refugee community baking skills, business management knowledge and entrepreneurial training. Unsung Heroes in Localising SDGs █ BYLIEW HOI YAN

11 FRIDAY | DEC 1, 2023 Teaching children about good and evil Q: My three-year-old is captivated by villains, always adopting their roles during pretend play. He prefers action figures of antagonists despite our efforts to alter the movie and television choices. How should we address this fascination? Focus on the Family Malaysia: There is no need for excessive concern regarding your son’s fascination with villains as many children go through this phase. Making a big issue out of it may prolong the phase as your son may thrive on the attention, even if it is negative. Children seek attention, whether positive or negative, especially if they feel neglected. The best approach is to downplay the villain interest and focus on affirming your son’s positive interests. However, if he starts mimicking the behaviour of evil characters in inappropriate ways, it is crucial to address it promptly. Do not allow him to become aggressive or hurtful in interactions with you, his siblings or other children. On a positive note, you can use fictional characters to teach your child about virtuous traits. Create a contrast between good and bad characters, discussing qualities such as honesty and helpfulness. Redirecting the conversation towards positive virtues can be an effective way to guide your son toward more constructive interests. Q: I entered into marriage with my husband for pragmatic reasons, believing he would be a great father to my child as a single mother. However, I have come to realise that I never had romantic feelings for him. Is there hope for our relationship? Focus on the Family Malaysia: Yes, there is hope. You can learn to love your husband with the kind of love that lasts. You can cultivate a lasting love for your husband, akin to the enduring love found in arranged marriages. Couples in arranged marriages learn to love each other although their relationships are not based on romantic feelings. Real love is not primarily about emotions, it is an act of will. Feelings generally follow intentional actions, growing from commitment, perseverance and hard work. Furthermore, your question suggests a seed of hope. Even if that emotional connection has faded, there must have been something that led you to believe life with him would be better. This is important. Reflect on what initially attracted you to your husband. Both of you must have felt an emotional connection at some level. Perhaps, it was the kindness he showed toward your child. You just have to be patient and work on it because it is worth the effort. While the spark may have dimmed, it can still be rediscovered and nurtured into a flame with effort, patience and a willingness to work on the relationship. The endeavour will be worth it. The article was contributed by Focus on the Family Malaysia, a non-profit organisation dedicated to supporting and strengthening the family unit. It provides a myriad of programmes and resources, including professional counselling services, to the community. For more information, visit family.org.my. Comments: [email protected] I AM writing not as an activist or an environmental expert, but as a concerned individual who recently traversed the routes to and from Penang, only to witness the distressing consequences of environmental violations unfolding before my eyes. The indiscriminate destruction of Malaysia’s natural wonders, including mountains, hills and forests, has left an indelible mark on my conscience, and ignited a fervent need to address the urgent concerns we face in the name of progress. The loss of wildlife, including the long-tailed macaques, Asian palm civets, owls and spider monkeys, is heart-wrenching. These innocent beings, displaced and driven to navigate highways in search of sustenance due to the demolition of their habitats, serve as poignant reminders of the heavy toll our actions inflict on the environment and its inhabitants. The landscapes, once pristine, now bear the scars of fragmentation and dissipation, sacrificed for the pursuit of minerals, housing and commercial developments. The hills that are being fracked and flattened for resources are not only unsightly but pose significant environmental risks, with the looming threat of landslides that could wreak havoc on nature and communities. Equally troubling is the reckless felling of trees. Not only do trees play an indispensable role as commodities, but are life-givers as well. They are essential carbon sinks, converting carbon dioxide into life-enabling oxygen, and helping to regulate our climate. The barren stretches of red soil lining the highways, devoid of these life-sustaining guardians, serve as stark reminders of the urgent need to reconsider our approach to development. In the spirit of empathy and shared responsibility, I urge the authorities to consider implementing eco-bridges. These bridges can act as lifelines, protecting and reconnecting the remaining wildlife habitats, and fostering a sense of hope in the face of adversity. Additionally, a thoughtful review of development practices is paramount to ensure a harmonious balance between progress and environmental preservation. The Sustainable Development Goals (SDGs), to which Malaysia is committed, are now at risk of being compromised. The violations are not just statistics but tangible threats to our collective well-being: 0 Good Health and well-being (Goal 3): The lack of carbon sinks leads to a dearth of filtered air, contributing to respiratory diseases and compromising the health of our population; 0 Affordable and clean energy (Goal 7): The unbridled destruction of nature makes achieving clean and sustainable energy sources nearly impossible as the demand for energy-intensive cooling solutions rises; 0 Sustainable cities and communities (Goal 11): Catastrophes, such as landslides and flash floods, become inevitable as mountains and hills are recklessly fracked and flattened, undermining the development of sustainable cities and communities; 0 Climate action (Goal 13): Uncontrolled development encroaches on forest areas and disrupts the earth’s natural equilibrium, making meaningful climate action unattainable; and 0 Life on land (Goal 15): The ongoing environmental degradation is a stark contradiction to the SDG’s objective of protecting, restoring and promoting the sustainable use of terrestrial ecosystems, managing forests sustainably, combatting desertification and halting biodiversity loss. Malaysia now stands at a critical juncture, where unchecked urban development and economic pursuits threaten its natural heritage and compromise its commitment to international sustainable development goals. Urgent measures, including the implementation of eco-bridges, sustainable land management practices and a re-evaluation of development priorities, are needed to steer the country back towards a path of environmental stewardship and responsible progress. The time to act is now, for the sake of Malaysia’s unique biodiversity and the global commitment to a sustainable future. In our collective hands lie the power to shape a more compassionate and harmonious world. Suzianah Nhazzla Ismail Shah Alam LETTERS [email protected] Michelin’s arrival culinary catalyst for local flavours and tourism boost I AM thrilled about the Michelin Guide coming to Malaysia, and its potential to enhance our local food and tourism. While some people have expressed concerns, it is essential to focus on the positive aspects, such as Michelin’s openness to various cuisines, which can contribute to making our country a more vibrant and enticing destination. Recently, Michelin awarded two stars to a local restaurant, one star to four others, and recognised 45 local establishments with the Bib Gourmand distinction. This shows Michelin’s appreciation for a diverse range of quality food, extending beyond upscale establishments. This presents a fantastic opportunity for our chefs to showcase creativity, irrespective of the type of restaurant, emphasising that innovation is not exclusive to high-end dining experiences. As Malaysians, we are happy that we can now patronise these local eateries and restaurants that have earned prestigious recognition from the Michelin Guide, even if we cannot afford to travel overseas. As a food enthusiast, I view Michelin’s arrival as a catalyst for enhancing our food scene, adding a new layer of excitement. The increased variety in our local cuisine has the potential to draw Malaysians and international visitors, contributing to the improvement of our tourism sector. Critics are right to emphasise the importance of preserving our culture, but Michelin can help by showcasing our diverse cuisine to a broader audience. Let us seize this opportunity to celebrate our local establishments, emphasising Michelin’s appreciation for all types of food and fostering the growth of our tourism industry. Upbeat food fan Under One Roof Malaysia’s environmental crossroads The hills that are being fracked and flattened pose significant environmental risks.

COMMUNITY COMMUNITY 12 FRIDAY | DEC 1, 2023 produced by Liuli Gong Fang, Asia’s leading brand of glass art, received the highest bid and was sold for a total of RM200,000, bringing the total amount raised from the auction alone to RM811,107. Most of the art pieces that were sold during the gala dinner represented both the charity and its goal for the night, which was to address critical community needs through charitable programmes. At the event, GHCA also revealed it had provided RM8.754 million worth of assistance to 44,974 beneficiaries over the past decade. This support touched the lives of 15,214 children, 21,711 underprivileged families, 3,750 elderly individuals, 3,320 Orang Asli villagers, and 979 people with disabilities, with the invaluable help of 25,135 dedicated volunteers. In addition to providing groceries aid, rental assistance, and business support to underprivileged families through its Livelihood programmes, GHCA’s Educational initiatives have touched the lives of 1,454 students through language classes and inspired 2,512 students to engage in charitable work. Environmental stewardship has been a key focus, with over 198 cleanup sessions conducted under the Earth Warriors Project, removing over 19.4 tonnes of rubbish from streets, parks, beaches and other areas. GHCA’s decade-long journey has not gone unnoticed, earning the organisation various accolades, including tax exemption status, the Golden Globe Tiger Award, PRUKasih Distributor Award, JCI Malaysia Sustainable Development Award, CorporateLiveWire Malaysia Prestige Award, Sustainability & CSR Malaysia Award, and the prestigious Star Golden Hearts Award. PETALING JAYA: Great Heart Charity Association (GHCA) raised an unprecedented RM3,025,864.88, surpassing all expectations, as it concluded its 10th anniversary celebrations in Shah Alam recently. It marked a decade of commitment to making charitable giving an integral part of everyone’s lives, GHCA co-founder Ric See Swee Poh said. The evening not only celebrated a decade of philanthropy but also served as a reflection on GHCA’s journey, showcasing the challenges faced, the successes achieved and the profound impact made on the community, he added. “A decade ago, we embarked on a journey with a modest aspiration to make charitable giving a part of everyone’s life. Tonight’s success is a living proof of the compassion and generosity of our community,” See said. “As we reflect on our journey with the theme ‘Recollection’, we are reminded of the challenges overcome, the lives touched, and the work that lies ahead. This is not just a celebration of the past, but a commitment to a future where charity remains the heartbeat of our community.” He expressed gratitude for the community’s continued support, emphasising the transformative power of charitable giving. “As GHCA looks ahead, the organisation remains resolute in its commitment to inspire countless others, empower the vulnerable, and ensure that charitable acts remain a fundamental part of everyone’s lives for many more years to come.” Among the notable initiatives by GHCA are the Hand-in-Hand Dialysis Aid Programme, which has supported over 364 kidney patients, and various Health and Wellbeing programmes, providing traditional Chinese medicine (TCM) treatment to 632 patients and distributing over 2.9 tonnes of organically planted vegetables. The gala night reached its artistic pinnacle with a speed painting presentation by artist Vivian Ng, who is the founder of Niuniu’s Gallery and Xin Yuan FM. The painting was one of the auctioned items that evening. A total of seven art pieces were also auctioned during the dinner, which included art pieces that were curated by beneficiaries, and those by renowned local artists. An art piece called “In Celebration” Great Heart raises RM3m for charity oGHCA reveals it has provided RM8.7 million worth of assistance to 44,974 beneficiaries over the past decade “In Celebration” art piece receives the highest bid and was sold for RM200,000. PETALING JAYA: The Taarana School for children with special learning needs held its annual day recently to celebrate their achievements recently. The event highlighted the talents of the school’s 24 students and reflected Taarana’s dedication to fostering a comprehensive and holistic environment of learning and development, RYTHM Foundation Chairperson Datin Sri Umayal Eswaran said. She added that the performances showcased not only the students’ talents but also Taarana’s nurturing spirit of inclusivity and creativity. “We must not give up on our children but nurture their skills and talents. If they can’t excel academically, guide them on their unique journey and encourage their other talents,” Umayal said. The event also included testimonies from parents on the impact of Taarana’s initiatives on students and their families. Mohd Amin Mohd Shariffudin witnessed remarkable behavioural progress in his son Muhammad Kamil Muiz, who has Charge Syndrome. Children with this syndrome tend to have problems with their senses of sight, hearing, smell, taste and touch. “Muiz has improved tremendously since enrolling at Taarana. He is now more receptive to listening and has also learned to make friends,” he said. “I could not be more grateful for their positive impact on my son’s development,” he added in paying tribute to Taarana’s therapists and teachers. The children had rehearsed their performances for several months in anticipation of the significant day. Taarana, which means “awakening” in Sanskrit, was established in 2011 by Rythm Foundation, the heart of social impact for the QI Group of Companies. The school addresses the urgent need for resources and support for children with developmental disabilities and their families. The event also honoured long-serving staff and bestowed awards on the students, recognising their significant growth and accomplishments in areas such as attendance and daily living skills. The annual day was also attended by QI Group founder and executive chairman Datuk Seri Vijay Eswaran, members of the QI Board of Directors and senior executives. A critical mission of RYTHM Foundation is to raise awareness about the importance of special needs education. The foundation also advocates for social inclusion to reduce the stigma associated with children who have developmental challenges. Vijay (left), Umayal (second from left) with a parent, and child accepting an award. Representatives from QI Group, RYTHM and Taarana School teachers, parents and children at the event. Taarana School marks achievements of children with special needs

LYFE LYFE FRIDAY | DEC 1, 2023 14 ‘My Christmas Story’ attractions at Sunway Putra Mall SUNWAY PUTRA MALL invites everyone to create lasting Christmas memories and experience the festive magic and other exciting activities at its “My Christmas Story” line-up of events. There, visitors can get into the festive mood and enjoy performances, activities, shopping, redemptions, win prizes up to RM80,000 and also give back to the community. Between Nov 24 and Jan 1, there is a host of attractions and activities at the mall – located in Jalan Putra, Kuala Lumpur, with the timeless story of the Nutcracker’s Brave Adventures as the main draw. The line-up of “My Christmas Story” events and activities is as follows: 0 Glee Market: Revolving around “books, food and beverage, and more”, it is at the Main Concourse on the Ground Floor and also the East Wings on the Ground Floor and Level 2, from Nov 24 to Jan 1. There, visitors can discover a variety of unique gifts and festive goodies, namely Popular, Mercato and Colegacy, amongst many more. Take advantage of the free gift-wrapping services at the concierge counter on the Ground Floor as well. 0 Joyful Shop, Spin and Win: Shoppers spin a virtual wheel for a chance to win amazing prizes and exclusive vouchers worth up to a total of RM80,000. Just spend a minimum oOngoing magical festive fun and charitable activities for the family, right up to the year-end... of RM250 in two receipts in the mall anytime from Nov 24 to Jan 1, scan a QR code found in the mall or its website or social media and follow some simple instructions via WhatsApp, to stand a chance to win a Samsung Galaxy Z Flip5, AirPods Pro (second generation), Swarovski Infinity Bracelet, Sunway Putra Hotel two-day one-night stay; and a lot more. 0 Goodwill Drive: Sunway Putra Mall is helping to raise funds for the upgrade of The Salvation Army kindergarten in Taman OUG, Kuala Lumpur. It started on Nov 24 and will end on Feb 18 at the Concierge Counter (Ground Floor). Scan the QR code on the mall’s website to donate via Sunway Pay. Also, there is a book donation drive, where you can drop off books you want to donate at the B1 carpark. Sunway Putra Mall general manager Danny Lee said: “What a joy it is to spread the goodness of reading and the gift of education to our community this year, and next. We are honoured to work with The Salvation Army, an organisation that has held true to helping those in need, as we strive to reach out and impact real lives, especially during the festive seasons.” 0 “Joyful Performances”: Since Nov 24, there is Christmas Carolling by The Salvation Army and other performances at the Main Concourse, on every weekend and public holiday, from 3pm to 6pm. Santa Claus, Mr Nutcracker and “magical fairies” will appear on selected weekends and public holidays until Jan 1. 0 Little Nutcrackers Workshops, Little Nutcrackers Treasure Hunt: Exclusively for Putra Junior Club and Autsome members (free registration), every Sunday, from 11am to 12pm at the Edutainment Hub on Level 4; and on Dec 9 at 10am, mall-wide, respectively. For more information, go to www.sunwayputramall.com/mychristmas-story/. Activities and dates are subject to change without prior notice. Paws and play I N a world where pets are cherished members of the family, the demand for fashionable and functional pet outfits is on the rise. Pet owners are increasingly looking for ways to showcase their pets’ personalities and protect them from the weather in style. From casual walks in the park to glamorous social events, the pet fashion industry has evolved to offer a diverse range of outfits that cater to every taste and occasion. Let us explore seven pet outfits that not only keep our furry friends comfortable but also showcase their unique flair. Everyday comfort. – AMAZON o Unleashing style with seven fabulous pet outfits █ BYTHASHINE SELVAKUMARAN Outdoor exploration gear. –FRUGGO Festive attire. – LAZADA Casual chic - everyday comfort For casual outings and lounging at home, pet owners are turning to casual chic outfits that blend comfort and style seamlessly. Soft and breathable fabrics ensure that pets can move freely, while cute patterns and vibrant colours add a touch of flair. Whether it is a cosy hoodie for chilly evenings or a playful T-shirt for a day at the park, casual chic outfits are a staple for pets who appreciate both comfort and fashion. Purr-fectly formal - special occasion attire Just like their human counterparts, pets too have special occasions that call for a touch of elegance. Formal pet outfits have become a popular choice for weddings, birthdays and other celebrations. Tuxedos for male pets and elegant dresses for females allow pets to shine at social gatherings. These outfits not only make a statement but also capture the attention of fellow pet lovers, turning every special occasion into a memorable event. Adventure ready - outdoor exploration gear For pets who love outdoor adventures, there is a range of outfits designed to keep them comfortable and protected. Waterproof jackets, durable boots and UV-resistant hats are just a few examples of adventure-ready pet gear. These outfits ensure that pets can join their owners on hikes, camping trips and beach outings without compromising on style or safety. Adventure-ready outfits are not only practical but also showcase the adventurous spirit of our four-legged companions. Seasonal sensations - weather appropriate apparel Just like humans, pets need to be prepared for the changing seasons. Seasonal pet outfits cater to the specific needs of different weather conditions. From cosy sweaters for cold warmth to lightweight and breathable outfits for hot or rainy weather, these seasonal sensations keep pets comfortable while making a fashion statement. Pet owners can now ensure their furry friends are stylishly dressed, no matter the weather. Sports fanatic - team spirit apparel For sports enthusiasts, showing team spirit is not limited to humans. Pet owners can now dress their furry friends in sports-themed outfits, complete with jerseys, bandanas and even mini sports shoes. Whether it is supporting a favourite football team or joining in on game day celebrations, sports fanatic pet outfits allow pets to be part of the action. These outfits not only showcase team loyalty but also make for adorable photo opportunities. Holiday extravaganza - festive and whimsical attire Holidays are a time for joy and celebration and pet owners are ensuring their furry companions are part of the festivities. Holiday-themed pet outfits, ranging from Halloween costumes to Christmas sweaters, allow pets to join in on the seasonal fun. These whimsical and festive outfits not only spread cheer but also bring a smile to everyone who encounters these holiday-ready pets. Designer couture - high-end fashion for pets For pet owners with a taste for luxury, designer pet couture has become a burgeoning trend. High-end fashion houses are now creating exclusive lines for pets, featuring bespoke outfits crafted from premium materials. From custom-tailored coats to handcrafted accessories, designer couture allows pets to strut their stuff in the lap of luxury. These outfits not only elevate the style quotient of pets but also reflect the close bond between pet and owner. In the ever-expanding world of pet fashion, the options for dressing our beloved animals are as diverse as the personalities they possess. Pet outfits have evolved to meet the demands of discerning pet owners, who want nothing but the best for their furry friends. So, unleash the style, pamper your pets and let them shine in these fabulous pet outfits.

LYFE LYFE FRIDAY | DEC 1, 2023 15 ARIES March 20-April 19 The full moon highlights communication, prompting caution with Mercury’s square to Neptune. Mercury in your career zone supports mature self-expression and mentor connections flourish. Relationship dynamics deepen with Venus clashing with Pluto, fostering trust and intimacy. TAURUS April 20-May 20 The full moon s p o t l i g h t s financial matters and selfworth in your personal resources sector. Navigate comparisons with compassion, especially as Venus clashes with Pluto, bringing potential lifestyle changes. GEMINI May 21-June 20 The full moon in your sign brings closure to relationships. Watch for distorted perceptions with Mercury clashing with Neptune. Focus on essentials as Mercury enters Capricorn, considering shared responsibilities with Saturn. With Mercury about to retrograde, there are extra chances to make things right. CANCER June 21-July 22 The full moon reveals a spiritual perspective. Mercury in your partnership sector sparks new talks, despite an upcoming retrograde. Discuss the relationship of permanence with Mercury and Saturn. Venus clashes with Pluto, deepening intimacy and reshaping desires and family dynamics. LEO July 23-Aug 22 Achieve your goals as the full moon lights up your dreams. Social dynamics may be confusing due to Mercury’s clash with Neptune. As Mercury enters your work sector, focus on productivity but be flexible during its upcoming retrograde. VIRGO Aug 23-Sept 22 The full moon highlights your career, bringing you into the public eye. Navigate misunderstandings as Mercury clashes with Neptune. Mercury’s shift to friendships and leisure connects you to creativity. Discuss interpersonal duties as Mercury connects with Saturn for the first of three times. LIBRA Sept 23-Oct 22 The full moon of Gemini energises education and communication. Navigate p o t e n t i a l misunderstandings with Mercury’s clash with Neptune. Mercury connecting with Saturn brings insights into health and responsibilities. Venus clashing with Pluto signals a transformation in selfunderstanding and potential changes. SCORPIO Oct 23-Nov 21 A full moon s i g n a l s transformation - seize exits with Mars empowering your will. Clear out what you no longer need. Mercury’s entry into the communication sector, with a future retrograde, sharpens skills and reevaluates contracts. SAGITTARIUS Nov 22-Dec 21 Full moons s p o t l i g h t relationships; be cautious with Mercury clashing with Neptune. Conversations may extend into January. Mercury entering personal resources connects with Saturn, facilitating discussions on private or sensitive topics. CAPRICORN Dec 22-Jan 19 A Gemini full moon brings work rewards and completion. Mercury in your sign, with an upcoming retrograde, signals a period of selfunderstanding and editing. Mercury connects with Saturn, facilitating discussions on limits, fears and personal timelines. AQUARIUS Jan 20-Feb 18 A Gemini full moon brings creativity and social connections. Adjustments may be needed with Mercury clashing with Neptune. Mercury retrograde allows for reorientation. As Mercury enters your secret sector, it connects with Saturn, offering opportunities to understand your role. PISCES Feb 19-March 20 The full moon sheds light on your home and family life. Mercury’s clash with Neptune adds confusion to questions about where you live and your origins. As Mercury enters your hopes and dreams sector, aligning with Saturn three times, seize opportunities for commitments or sacrifices that shape your future. 15 random things you never knew 1. Where lefties meet their righthanded demise More than 2,500 left-handed people are killed every year from using equipment meant for righthanded people. 2. Tiny titans outweighing humanity’s heavyweights The total weight of all the ants on Earth is greater than the total weight of all the humans on the planet. 3. Tail-holding romance on the ocean floor Seahorses are monogamous lifemates and travel in pairs, holding each other’s tails. 4. Baller earns more than total factory workers Michael Jordan makes more money from Nike annually than all of the Nike factory workers in Malaysia combined. 5. Wall scribbles were the original social media Some of the first examples of graffiti come from first century Pompeii, Seahorses form lifelong bonds. The Grinch as a boy was played by an 18-year-old little person. Daniel Craig was a Storm Trooper. Your weekend horoscope where messages like “I don’t want to sell my husband” and “Success was here”, were written on walls. 6. Mistaking limbs for branches Sloths will mistakenly grab their arms instead of the branches of a tree, which can lead to fatal falls. 7. Fergie was the voice of sass in Peanut cartoon In the mid-1980s, Fergie of The Black Eyed Peas was the voice of Charlie Brown’s sister Sally. 8. Pebbles, love and flippers in Antarctica The male Gentoo and Adelie penguins “propose” to females by giving them a pebble. 9. Cosy living at its finest There is an island called “Just Enough Room”, where there is just enough room for a tree and a house. 10. Who needs a country when you have got style? Saint Lucia is the only country in the world named after a woman. 11. The spy who could not resist a galaxy far, far away Daniel Craig was an anonymous Storm Trooper in Star Wars: The Force Awakens. Originally, he denied his cameo and claimed he would not bother being an extra in a movie. 12. Left or right, cats just want to rule the world It is not just humans who are rightor left-handed. Most female cats prefer using its right paw and males are more likely to be left-pawed. 13. Joint secrets of nature’s pollinators Bees actually have knees. The expression comes from the fact that bees store large buildups of pollen in hairy baskets on its knees. 14. Big heart behind the green grump An 18-year-old with dwarfism played the eight-year-old Grinch in The Grinch (2000). He passed away two years after the film was released. 15. Guiding through 9/11’s chaos Roselle, a guide dog, successfully led her blind owner down 78 flights of stairs during the 9/11 attacks, completing the descent in about an hour. Both emerged safely from the ordeal.

LYFE LYFE 16 FRIDAY | DEC 1, 2023 ginger, chilli pepper and other seasonings. The result is a spicy, tangy and crunchy delicacy that adds a burst of flavour to any dish. Bibimbap Bibimbap, meaning “mixed rice,“ is a colourful and hearty dish that showcases a variety of ingredients. It typically consists of rice topped with sauteed and seasoned vegetables, a protein such as beef or tofu, a fried egg and gochujang for added spice. The beauty of bibimbap lies in its presentation and the act of mixing all the ingredients together before enjoying them. Bulgogi Translating to “fire meat”, bulgogi is a marinated and grilled beef dish that epitomises the balance of sweet and savoury flavours in Korean cuisine. The marinade typically includes soy sauce, sugar, sesame oil, garlic and pepper. The thinly sliced beef is grilled to perfection, resulting in tender, caramelised slices that are often enjoyed with a side of rice or wrapped in lettuce leaves. Japchae Japchae is a stir-fried noodle dish made from sweet potato starch noodles, vegetables and often beef or other proteins. The dish is seasoned with soy sauce, sesame oil and sugar, creating a harmonious blend of textures and flavours. Japchae is a favourite at celebrations and special occasions, s y m b o l i s i n glongevity andprosperity. Samgyeopsal A popular choicebarbecue enthsamgyeopsal refers toof pork belly grilled sizzling sound and cooked meat createexperience. Samgyeoby wrapping the grillealong with garlic, greessamjang (a thick, spi 0 Unique ingredienGochujang Often referred to as gochujang is a fundSouth Korean cuisfermented soybeans,chilli peppers. Gocumami-rich flavourserves as a key comsauces and stews. Doenjang This fermented scornerstone of Koresavoury and slightlyUsed in soups, stKimchi - PICS BY PEXEL Ssamjang █ BYTHASHINE SELVAKUMARAN Flavours of KoA tapestry of flavours, history andS OUTH KOREAN cuisine, known for its vibrant flavours, bold spices and intricate preparation methods, is a culinary tapestry that reflects the country’s rich history and diverse landscapes. From the bustling streets of Seoul to the serene temples nestled in the mountains, South Korean cuisine is a celebration of tradition, community and an unwavering connection to the land. Let us delve into the history, popular dishes and unique ingredients that define the enchanting world of South Korean gastronomy. The roots of South Korean cuisine can be traced back thousands of years, shaped by the country’s geography, climate and cultural influences. Influences from China, Mongolia and Japan have all played a role in shaping the distinct flavours of South Korean dishes. The turbulent history of the Korean Peninsula, marked by invasions and occupations, has led to an adaptive culinary culture that embraces a diverse range of ingredients and cooking techniques. One of the defining features of South Korean cuisine is the emphasis on fermentation, a practice that dates back centuries. Fermented foods like kimchi, a staple in Korean households, showcase the country’s mastery of preserving ingredients and enhancing flavours. The use of fermented soybean paste, known as doenjang and fermented chilli paste, gochujang, adds depth and complexity to many dishes. 0 Popular dishes Kimchi No exploration of South Korean cuisine is complete without mentioning kimchi. This iconic dish is a staple in every Korean meal, served as a side dish or incorporated into various recipes. Kimchi is made by fermenting vegetables, commonly napa cabbage and Korean radishes, with a mixture of garlic, Doenjang Samgyeopsal Gochujang

LYFE LYFE 17 FRIDAY | DEC 1, 2023 g d e for husiasts, o thick slices at the table. The savoury aroma of the e a communal dining opsal is typically enjoyed ed slices in lettuce leaves en onions and a dollop of icy paste). nts Korean red chilli paste, damental ingredient in sine. It is made from , glutinous rice and red chujang adds a deep, r to many dishes and mponent in marinades, soybean paste is a ean cuisine, offering a y sweet flavour profile. tews and marinades, d o e n j a n g c o n t r i b u t e s complexity and depth to a wide range of dishes. Perilla Leaves Perilla leaves, known as kkaennip in Korean, are often used as wrappers for grilled meats or as an accompaniment to dishes like barbecue. With a distinct flavour that is a mix of mint and basil, perilla leaves add a refreshing and aromatic element to the dining experience. Ssamjang Ssamjang is a thick, spicy paste made from a combination of gochujang, doenjang, sesame oil, garlic and other seasonings. It is commonly used as a dipping sauce for grilled meats, providing a bold and flavourful complement to the smoky notes of barbecued dishes. South Korean cuisine is a captivating journey through the country’s history, culture and natural landscapes. Each dish tells a story of resilience, adaptation and the unbreakable bond between the people and the land. As South Korean cuisine continues to capture the hearts and palates of food enthusiasts worldwide, it stands as a testament to the enduring legacy of a culinary tradition that is as diverse as the nation itself. Korea d tradition Bulgogi Japchae Perilla leaves Bibimbap

THE Malaysian B-segment market is never short of drama. Manufacturers are consistently trying to outdo each other, but amidst all of that maneuvering, it is the consumer that always wins. The segment consists of big names like the Honda City, Toyota Vios, Nissan Almera and even the Proton Persona. But it is fair to say that the most popular are the City and the Vios. While Honda and Toyota are always outdoing each other, we are getting ever better cars. The Vios is currently in its fourthgeneration while the City has been around since the early 80s and is currently in its seventh generation. Over all that time, both have evolved to be really fine cars. UMW Toyota Motors introduced the new Vios earlier this year to much fanfare. Sales have been brisk, but that’s unsurprising considering its popularity. The City too is the other de facto go to model for those who want practicality and reliability. It is now bigger than ever, and with a recently introduced facelift, it may not be an all-new model like the Vios, but it has everything the Vios has and is arguably better to drive. In terms of pricing, the Honda City RS petrol costs RM99,900 while the Toyota Vios is priced at RM95,500. However, Honda provides free labour up to five times within 100,00km or five years, while Toyota charges an additional RM3,220 for a five-year or 100,000km free service package. If you opt for the service package, that would bring the price of the Toyota close to the City. So, which should you spend your money on? We dissect the two cars and bring you our opinion on which would be worth your money. ENGINE Beginning with what matters most, both cars are powered by a 1.5L naturally-aspirated engine. The Honda offers its i-VTEC technology to make accessible power, while Toyota has its D-VVTi. However, the Vios is down on power as compared to the City. The Vios produces 106PS and 138Nm, while the City offers 121PS and 145Nm. The difference may not seem that much but this is felt the most during acceleration where the City feels more eager to get up to speed. As far as efficiency goes, both cars have 40L fuel tanks and are capable of providing about 500km of range on a full tank. DRIVE Again, both cars ride on identical suspension set ups, MacPherson struts up front and a torsion beam at the rear. Both do excellent jobs at keeping occupants detached from the horrors of the roads underneath them. However, in terms of handling, the City feels more alive and is quicker to oblige every turn of the steering wheel. The steering feel of the Vios is more SCAN ME powered by Contributing Editor Keshy Dhillon / [email protected] Editorial T: 03-7784 6688 F: 03-7785 2624/5 E: [email protected] Advertising T: 03-7784 8888 F: 03-7784 4424 E: [email protected] FRIDAY | DEC 1, 2023 Tough Choice If it is hard to decide which car to buy, the new Toyota Vios or the facelifted Honda City RS, here’s some help █ BY KESHY DHILLON SPECIFICATIONS HONDA Engine: 1.5L, 4-cylinder, 16-valve, DOHC, i-VTEC Power: 121PS@6600rpm Torque: 145Nm @ 4300rpm Gearbox: CVT Suspension: MacPherson strut (Front), Torsion Beam (Rear) Interior spaciousness and comfort. Hard to fault. SPECIFICATIONS TOYOTA Engine: 1.5L, 4-cylinder, 1r6-valve, DOHC, VVT-i Power: 106PS@6000rpm Torque: 138Nm@4200rpm Gearbox: CVT Suspension: MacPherson strut (Front) Torsion Beam (Rear) Fresh new design. Interior can be cramped. The Vios is powered by a 1.5L, naturally-aspirated engine making 106PS and 138Nm of torque . The City is also powered by a 1.5L engine but it is more powerful and produces 121PS and 145Nm of torque .

MOTORING MOTORING FRIDAY | DEC 1, 2023 19 muted and heavy. If you are like more agility and responsive handling, you will appreciate the City. In terms of braking, both also have the same set up – solid discs all around. DESIGN This is always subjective, but it is the Vios that has the freshest design between the two. The City has gone through several facelifts and now offers a bolder grille and sportier bumpers. However, the overall silhouette remains the same. Toyota was keen to talk about the sportback design of the Vios when it was launched early this year. It adds character to the Toyota whose designs have always been safe and unadventurous. But the sportback design comes at a price. Because the rear of the roofline drops dramatically into the a-pillar, this ultimately sacrifices headroom for rear passengers. Anyone above 180cm will be scrapping the top of his head against the roof liner. This ultimately results in the City having a more spacious interior. INTERIOR Building on the topic of interior spaciousness, the City does it better again. This time, the culprit is the centre console, where the gear lever and handbrake are placed. The centre console of the Vios is simply too high as compared to the City. This results in narrower foot wells for the driver and front passenger, so you sit with your legs closer together than you would in the City. This may not affect shorter people, but if you’re tall, you may find that this limits legroom. The taller shoulder line of the Vios also makes the windows smaller, especially at the rear. This means that there is not as much light that is fed back into the cabin, making it seem as if it is smaller than the City. Both cars offer leather clad interiors while the seats in the Honda offer better padding, making them more comfortable, especially over longer distances. There are no complaints about quality though as both have impressive interior builds. Rear passengers will appreciate the fact that they have their own air-conditioning vents, as well as two USB ports. TECH Both cars are also almost identical in terms of the tech and features. Both come with wireless Apple CarPlay and Android Auto. For audiophiles, there are six speakers in the Vios and eight in the Honda. However, it is the Vios that has a bigger infotainment system, but at nine inches, it is only an inch bigger and not quite a deal breaker. BOOTH SPACE The Vios has a surprisingly smaller booth. At 470-litres, it is down on the Honda’s 519-litres. Before you begin to think that the difference is minuscule, that 49 litres makes the difference between space for a backpack or none. SAFETY Both cars are once again nearly identical. The City comes packed with Honda’s SENSING while the Vios features Toyota’s Safety Suite. Both are essentially a collection of various systems that combine to enhance safety in all situations. Both offer Lane Departure Warning, Lane Keep Assist, Forward Collision Warning, Collision Mitigation Braking System, Adaptive Cruise Control, Auto High Beam and Lead Car Departure Notification System. Building on that is the fact that both cars are also evenly matched when it comes to active safety systems as both have six airbags, vehicle stability assist, ABS, electronic brakeforce distribution, brake assist and more. CONCLUSION The fact that both cars are so evenly matched makes it difficult to choose one or another. At this point, it is just a matter of branding, which brand are you fonder of? But if there is one thing that truly makes a difference, it is interior space. Hoping from the Vios into the City, the difference is jarring. The interior of the City feels a lot more bigger than the Vios and the seats are more comfortable as well. That point alone would have done it for us, but the City also runs on smaller 16-inch wheels as compared to the 17-inch wheels on the Vios. A quick check online revealed that the cheapest 16-inch tyres from Goodyear costs RM262 per piece, while 17-inch tyres cost RM351. Assuming you will need to change all four tyres, the tyres for the Honda will cost you RM1,048 while the Vios will set you back RM1,404. The savings of RM356 will give you about four full tanks of petrol. But that aside, the interior spaciousness, comfort, and the fact that it has a bigger booth makes the Honda City our choice between the two. The interior of the City has been updated to keep up to update with modern demands. The interior of the Vios is all-new as compared to previous models. The City has an 8” infotainment screen with wireless Apple CarPlay and Android Auto. The Vios has a 9” infotainment screen. The top spec Vios has an electronic parking brake while the City has a conventional parking brake. Both tcars offer rear air-conditioning vents for its passengers. The Vios has a fully digital meter panel while the City mixes analogue and digital. The City has full LED lighting all around.

MOTORING MOTORING FRIDAY | DEC 1, 2023 20 Top prize for H.R. Owen Tan’s luxury car dealer group named best Lamborghini showroom in the world LA M B O R G H I N I MANCHESTER, under the management of Tan Sri Vincent Tan’s H.R. Owen Group, has been honoured as the Lamborghini Global Dealer of the Year at the manufacturer’s annual dealer meeting in Italy. The accolade recognises outstanding achievements across various criteria, including meeting sales targets, providing excellent aftersales services, and delivering exceptional customer care. The recognition comes just over a year after the official launch of the Lamborghini Manchester showroom, which has been revamped to reflect the latest in Lamborghini technology and design. Covering a 370sqm space, the showroom showcases the complete Lamborghini model range. In addition to the Global Dealer of the Year award, Lamborghini Manchester was also awarded Best Sales Dealer for the EMEA region. Another H.R. Owen Group showroom, Lamborghini Hatfield, achieved significant success by being named the second-best dealer overall and the third-best sales dealership in the EMEA region. The Hatfield showroom, part of H.R. Owen’s flagship 2.06- hectare development, features a 500sqm display area, an Ad Personam studio for personalised customisation, and an advanced 870sqm aftersales facility. H.R. Owen’s performance across its Lamborghini dealerships in sales, aftersales, and marketing has contributed to the exceptional performance highlighted by these awards. With 74 dealers in the EMEA region and 180 worldwide, Lamborghini’s recognition of H.R. Owen’s success underscores the group’s commitment to delivering exceptional customer experiences. The H.R. Owen Group, owned by the Berjaya Group, stands as Britain’s leading luxury motor dealer group. Representing an array of sought-after premium car brands, including Bugatti, Rolls-Royce, Aston Martin, Bentley, Ferrari, Maserati, Lamborghini, BAC, Rimac, Czinger, Hennessey, and Radford, H.R. Owen continues to set high standards in the luxury automotive market. 2023 Asia Harley Days a resounding success ASIA HARLEY DAYS is fast becoming one of the must-attend events for any HarleyDavidson owners in the Asian region and this year’s instalment was no different. With over 2,500 attendees, the event, held at Legend Siam in Pattaya on Oct 28, saw participation from representatives of 80 H.O.G.® (Harley Owners Group) Chapters and motorcycle club members from various regions. The highlight of the festivities was a thunderous motorcycle parade featuring over 1000 riders. Th Governor of Pattaya kicked off the parade, with Sajeev Rajasekharan, Managing Director, Asia Emerging Markets & India, HarleyDavidson, leading the procession. Covering a scenic 60km route passing through the iconic Buddha Mountain, the parade culminated back at Legend Siam, Pattaya. Attendees were treated to high-energy music performances by renowned artists. The event also featured a gymkhana competition, fashion show, awards gala, and thrilling motorcycle stunts by Siam Stunt and Unlimitcontrol. Enthusiasts had the opportunity to explore the latest Harley-Davidson 2023 motorcycle lineup and even take them for a spin. The gala awards ceremony recognised outstanding achievements, with winners including Elizad Sharifuddin (Malaysia) in the Ladies of Harley Diva category and H-D Manila, Philippines, for Best CSR Activity – Cancer Support. The event also acknowledged the AHD Legends 2023, with Power Bangkok Chapter (Thailand) receiving recognition for the Highest HOG chapter participation. The festivities concluded with anticipation for the 2024 Asia Harley Days, with the date and venue to be announced later. Proton S70 officially launched PROTON has officially introduced the Proton S70, a sleek and feature-rich sedan that combines the trusted Proton lineage with the innovative design of the Geely Emgrand model. The Proton S70 is available in four distinct variants. The variants are the 1.5T Executive, 1.5T Premium, 1.5T Flagship and the 1.5T Flagship X. Based on and drawing inspiration from the Geely Emgrand, the Proton S70 features an identical shape with thoughtful modifications. The exterior is enhanced with a distinctive rear model script and a new grille adorned with chrome pin inserts. LED projector headlamps illuminate the path ahead, accompanied by LED taillights with a striking light bar. Completing the look are a sunroof and 17” 10-spoke wheels wrapped in Goodyear Assurance TripleMax 2 tyres. Under the hood, the Proton S70 differentiates itself with a turbocharged 1.5L 3-cylinder engine paired with a 7- speed Dual Clutch Transmission (DCT). The Proton S70 embraces cuttingedge technology with a 10.25” TFT infotainment display boasting a resolution of 1,920 x 720. Complementing this centrepiece is a 3.25” monochrome meter display, offering a comprehensive view of crucial vehicle information. Prioritising safety, the Proton S70 comes equipped with an extensive suite of features, including Tyre Pressure Monitoring System, Level 2 Advanced Driver Assistance Systems, Lane Departure Warning and Prevention, Purosangue gallops into M’sian market THE first-ever SUV in Ferrari’s 75-year history was revealed in September 2022. Now, thanks to Ital Auto Malaysia Sdn Bhd, the official importer and distributor of Ferrari cars in Malaysia, it has finally entered the Malaysian market. Ferrari has taken time to ensure that the driving dynamics and performance allow the Purosangue to have the Prancing Horse on its bonnet. To achieve its ambitious goals for the Purosangue project, Ferrari developed a completely different layout. The mid-front-mounted engine has the gearbox at the rear, adopting a transaxle layout. The Power Transfer Unit (PTU) provides an allwheel-drive transmission, resulting in a 49:51 weight distribution optimal for a mid-front-engined sports car. The Purosangue’s engine is the most powerful ever developed by Ferrari for a 4-seater car with a 6.5L capacity. Tuned for high torque at low revs, it produces 80% of maximum torque at 2,100rpm, peaking at 716Nm at 6,250rpm, with a maximum power output of 725PS at 7,750rpm. Aerodynamics played a crucial role in the Purosangue’s design. The cabin accommodates four generously sized seats. For the first time in Ferrari’s history, the cabin has four separate and independently adjustable seats. Scheduled maintenance programme is an exclusive service that allows clients the certainty that their car is being kept at peak performance and safety over the years. This very special service is also available to owners of pre-owned Ferraris. All Ferrari owners in Malaysia can perform regular maintenance (at intervals of either 20,000km or once a year with no mileage restrictions) with Genuine Spare Parts at Ital Auto’s Official Aftersales Centre in Glenmarie, Kuala Lumpur. If you have deep pockets, the Ferrari Purosangue is available in Malaysia from RM5 million inclusive of duties and taxes. Adaptive and intelligent Cruise Control just to name a few. Pricing for the Proton S70 is as follows: S70 1.5T Executive (RM73,800), S70 1.5T Premium (RM79,800), S70 1.5T Flagship (RM89,800) and S70 1.5T Flagship X (RM94,800). Proton has also introduced an early bird package for the first 3000 buyers that is valid until Feb 29, 2024. It includes Aerokit (RM3130) for the Flagship X variant, service voucher (RM500) for the Premium and Flagship variants only and upgraded Proton insurance programme with complimentary first year special perils coverage. The standard package for all variants includes a 5-year warranty with unlimited mileage, 5-year data package with 1GB per month for both flagship variants, free labour for the first 6 services, financing interest rates from 2.34% per annum and Proton insurance program.