TheEdge + Sun-080922

PUTIN SAYS WEST IS FAILING, THE FUTURE IS IN ASIA p16

THURSDAY, SEPTEMBER 8, 2022 w w w. t h e e d g e m a r k e t s. c o m

ISSUE 440/2022

CEOMorningBrief
HOME: Using face masks indoors now optional, says Khairy p2
Analysts flag that 5G roll-out may cause profit margin dilution for telcos p4
Zahid to know on Sept 23 whether defence will be called in second graft case p6
Boardroom changes at Jade Marvel with rejection of diversification plan p13
WORLD: Asia’s rich are tilting towards private assets as global risks grow p22

BLOOMBERG

No more than 25 bps
OPR hike expected
today despite weak
ringgit — economists

Report on Page 3.

thursday SEPTEMBER 8, 2022 2 TheEdge CEO morning brief

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Using face masks indoors
now optional, says Khairy

KUALA LUMPUR (Sept 7): The use of by Shazni Ong ment through administration of Paxlovid,
face masks indoors is now optional, four theedgemarkets.com an antiviral drug to reduce the symptoms
months after it was made mandatory. of Covid-19.
vans and school vans.
In a statement onWednesday (Sept 7), This is in addition to those in health fa- “Ongoing public health prevention and
Health Minister Khairy Jamaluddin said control activities, as well as public aware-
this is based on the assessment of the cur- cilities, such as hospitals, clinics, care homes, ness of the importance of practising pre-
rent situation of Covid-19, as well as after hemodialysis centres and equivalent. ventive measures, have helped contribute to
taking into account the current needs. the reduction of Covid-19 cases and stabi-
“The MOH also strongly encourages lise the health service system, with the rate
However, premise owners can determine the use of face masks to continue to be of admission of Covid-19 cases to hospi-
whether visitors must wear a face mask or practised, especially in crowded areas such tals and intensive care units (ICUs) being
can choose to wear a face mask. as night markets, stadiums, shopping malls low,” he said.
and houses of worship.
In addition, the public are highly en- As of Sept 6, the capacity utilisation of the
couraged to wear face masks, given that “[Additionally], individuals with symp- MOH’s Covid-19 facilities for non-critical
it has been proven to reduce the spread toms such as fever, cough and cold, [be- beds stood at 21%, or 1,264 patients out of
of infection. sides] individuals at high risk such as the 6,037 beds, and the figure stood at 19% for
elderly, people with chronic diseases, indi- ICU beds, or 69 patients out of 371 beds.
“This new protocol will come into force viduals with low immunity and pregnant
immediately today (Wednesday).The Min- mothers, [as well as] those doing activities Utilisation of low-risk Covid-19 quar-
istry of Health (MOH) will continue to with high-risk people such as the elderly antine and treatment centre beds was re-
monitor the Covid-19 situation at home and children [are encouraged to wear a corded at 4%, or 19 patients out of 530
and abroad, in addition to ensuring that face mask],” he said. beds, while those on Covid-19 respiratory
health services are in optimal condition to aid or ventilation stood at 11%, or 40 pa-
ensure the well-being of the people in the Khairy reiterated that the requirements tients out of 371 beds.
face of Covid-19. for wearing face masks outdoors and in
open areas are the same as previously an- Khairy added that all economic sectors
“This flexibility does not mean that the nounced, which is not mandatory. and social activities have been allowed,
public can take the risk of Covid-19 infec- while the border entrances have also been
tion lightly,” he said. However, he said the MOH encourages opened throughout the country’s transition
continued use of face masks outdoors — to the endemic phase.
With this relaxation, Khairy noted that in crowded areas, and for individuals with
the people have to take on greater individ- symptoms such as fever, cough and cold, as Although many standard operating
ual responsibility to protect not only them- well as individuals at high risk, and when procedures have been relaxed during this
selves, but the entire community. doing activities with high-risk people such period, he said the understanding of the
as the elderly and children. public in terms of emphasising personal
He said the MOH believes that the public healthcare allows this transition process to
will continue to practise the best self-con- Ongoing public health prevention, go smoothly.
trol, including ensuring personal hygiene, control activities helped reduce
to avoid contracting infectious diseases in- Covid-19 cases and stabilise health As a result, the country recorded growth
cluding Covid-19 as is currently practised. service system in gross domestic product in the second
According to Khairy, Malaysia has been in quarter of this year at 8.9%.
Since May 1, the wearing of face masks the endemic transition phase since April 1,
was only mandatory when inside buildings and to ensure that the spread of Covid-19 “Taking into account the improvement
(indoors) and in public transport, including cases is controlled safely and effectively, in the Covid-19 situation in Malaysia at this
e-hailing services. the MOH has implemented various pub- point, the MOH has examined and revised
lic health prevention and control activities. several procedures — to prevent the spread
Meanwhile, Khairy elaborated that the of Covid-19 infection — that can be relaxed
use of a face mask is still mandatory for This includes the Covid-19 vaccina- for the convenience of the people, but at
positive cases of Covid-19, besides those tion programme as well as case manage- the same time, it is necessary to ensure the
using public transport services such as health and safety of the public,” he said.
buses, trains, taxis including e-hailing ser-
vices, airplanes, as well as buses, employee

THURSDAY SEPTEMBER 8, 2022 3 THEEDGE CEO MORNING BRIEF

HOME

No more than 25 bps OPR hike expected
today despite weak ringgit — economists

BY IZZUL IKRAM How regional and select major currencies fared against the US dollar
theedgemarkets.com
YTD change (%)
KUALA LUMPUR (Sept 8): Ahead of the
release of Bank Negara Malaysia’s (BNM) -3.37 Vietnamese Dong (VND)
Monetary Policy Committee (MPC) state-
ment onThursday (Sept 8), the ringgit de- -4.44 Singaporean Dollar (SGD)
preciated to a 24-year low against the US
dollar. How would it affect the upcoming -4.59 Indonesian Rupiah (IDR)
monetary policy?
-8.08 Ringgit Malaysia (RM)
Economists The Edge spoke to are of the
view that the expected 25-basis-point (bps) -10.59 Thai Baht (THB)
hike in the Overnight Policy Rate (OPR) is to
be independent of the local currency’s move- -12.08 Philippines Peso (PHP)
ments, which opened at RM4.5010 — the
lowest level against the greenback since the -7.64 Australian Dollar (AUD)
Asian financial crisis back in 1998 — before
settling 0.1% weaker at RM4.5030. -9.79 Renminbi (RMB)

Although the ringgit has slipped 8.08% -15.02 Euro (EUR)
year to date, major currencies have suffered
greater losses — Japanese yen at 25.92%,Brit- -15.51 Great British Pound (GBP)
ish pound at 15.51%, and euro at 15.02%.
-25.92 Japanese Yen (JPY)
In the Southeast Asian markets, the Phil- -30 -25
ippine peso weakened the most by 12.08%, -20 -15 -10 -5 0
while Thai baht was down 10.59%.
Source: Bloomberg
They opined that the MPC’s decision
would mainly take into consideration the I think the MPC meeting will Contrary to MIDF’s forecast, SERC’s
continued growth of the domestic economy consider a lot of factors, but Lee sees no more rate hike in November.
as well as the risk of inflationary pressures. it will be independent of what
The local note’s shaky position against the happened to the currency In any case, he stressed that the central
greenback is not likely to influence the mon- (ringgit), it’s not about raising bank’s decision should not be interpreted
etary policy stance. rates to support the ringgit” as defending the local currency.

MIDF Research economist Zafri Zu- — Lee Heng Guie, executive “Capital will go to the country which of-
lkeffeli, for one, said the weakening of the director of SERC fers higher returns.The reason why the US
ringgit is no cause for concern, as it is not dollar continues to charge higher is because
alone in this fiscal tightening environment. maintained its full-year gross domestic prod- the US Fed has moved ahead of everyone [on
uct growth projection at 5.3% to 6.3%. interest rate], not just Malaysia,” he said, add-
“The macro numbers in the US are still ing this situation will continue until the time
good, so there could possibly be a higher Looking at the last MPC meeting in No- when the Fed’s interest rate reaches its peak.
rate hike of 75 bps by the US Fed (Fed- vember, Zafri expects another hike of 25
eral Reserve) at the Sept 21 Federal Open bps to end the year at 2.75%. Malaysian Institute of Economic Re-
Market Committee meeting. Previously we search senior research fellow Dr Shankaran
were expecting that [Fed] rate hikes would Socio-Economic Research Centre Nambiar said rate hikes may not be what
be slower and slower, but there is potential (SERC) executive director Lee Heng Malaysia needs, but in a globalised world,
for it to be moving at a higher-than-expect- Guie said a 25 bps hike is on the cards on Malaysia’s interest rate cannot diverge too
ed size of increase,” he said. Thursday given the strength of the Malay- far from the US’.
sian economy and inflationary pressures.
He noted that the MPC’s fifth meeting “On top of that, the ringgit is sliding
of the year is likely to see another 25 bps “This will take into consideration the down. Clearly you don’t want to exacer-
hike — which would raise OPR to 2.5% strength of the economy, inflationary risks bate that trend.”
— in view of the continued improvement and assess whether there is a need for us to
in the domestic economy. normalise interest rates from where we are To recap, BNM in May increased the
as we are already on the road to recovery. OPR by 25 bps to 2% from a record low
“The central bank will also be look- of 1.75% as global inflationary pressures in-
ing at inflationary pressures, in particu- “I think the MPC meeting will consider creased sharply and after taking into account
lar as core inflation hit 3.4% in July, the a lot of factors, but it will be independent the sustained reopening of the global economy
highest since March 2016 — this really of what happened to the currency (ringgit), and improvement in labour markets.
reflects the strengthening of consumer it’s not about raising rates to support the
spending,” he said. ringgit,” he explained. The central bank then raised the key
benchmark rate by another 25 bps to 2.25%
Malaysia’s economy expanded 8.9% year- Lee added that as the economy has re- in July.
on-year in the second quarter of 2022 (2Q22), covered to a state better than during the
after recording 5% growth in 1Q22. BNM Covid-19 pandemic, it is opportune for the While it is widely expected to see further
central bank to gradually increase the OPR hikes in the OPR, the pace of normalisa-
in the event of a potential downturn, such as tion will be closely watched on the back of
a global recession, to allow for some space a potential economic slowdown, elevated
to cut rates in the future. inflationary pressures and a weak ringgit.
Read also: Bank Negara holding online
auction of ringgit banknotes with special
serial numbers

thursday SEPTEMBER 8, 2022 4 TheEdge CEO morning brief

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Analysts flag that 5G roll-out may cause
profit margin dilution for telcos

by Syafiqah Salim Top telco stock picks Stock pick Rating Target price
theedgemarkets.com (RM)
Research house Outperform 3.65
KUALA LUMPUR (Sept 7):Analysts have Outperform 4.25
maintained their “neutral” rating of the tel- Kenanga Research Axiata Group Bhd Outperform 7.75
ecommunications (telco) sector, as they Digi.Com Bhd 7.30
believe the market has already priced in a CGS-CIMB Research Add 6.91
5G model that is less favourable to telco MIDF Research Telekom Malaysia Bhd Buy
operators. Telekom Malaysia Bhd
Telekom Malaysia Bhd
However, some pointed to the emer-
gence of the single wholesale network Source: Brokers’ reports
(SWN) model for 5G deployment, which
could lead to margin dilution. most likely help reduce ambiguity over ga rationalised its valuation base to sev-
5G deployment. en times EV/Ebitda for the financial year
Kenanga Research said that improved ending Dec 31, 2023.
nationwide 4G coverage under the Jendela But it said mobile network operators
initiative and the 5G roll-out will take the must continue to create attractive value-add- The top pick of both CGS-CIMB and
role of telecommunications to a whole new ed service offerings to maintain their respec- MIDF isTM, because it is the nation’s larg-
level, and lay the foundation for long-term tive market share, due to the emergence of est fixed-line provider and offers numerous
growth of the industry. the SWN model for 5G deployment. business opportunities under the MyDig-
ital initiatives. CGS-CIMB has an “add”
“The just concluded 2QCY22 results “Since the model may cause profit rating with aTP of RM7.30, while MIDF
season (for the second quarter ended June margin dilution, having an efficient cost has a “buy” rating with a TP of RM6.91.
30, 2022) saw all stocks under our telco management plan in place is critical to
universe meeting expectations, which was defending profit margins,” said MIDF. Axiata was down one sen or 0.34%
unchanged from the previous reporting to RM2.91 as at the time of writing on
season. Broadly, all the telcos saw im- Top picks Wednesday, giving it a market capitali-
provement in subscription, both locally Kenanga named Axiata Group Bhd, Digi. sation of RM26.71 billion. Digi slipped
and regionally.Their blended ARPU (av- Com Bhd and Telekom Malaysia Bhd 0.28% to RM3.58, with a market value of
erage revenue per user) rebounded after (TM) as its top picks with “outperform” RM27.83 billion, whileTM declined 0.17%
having come under tremendous pressure calls. to RM5.79, valuing it at RM21.93 billion.
in quarters prior.
The target price (TP) for Axiata was Last Friday, the Government asked
“These trends look likely to sustain into raised to RM3.65 (from RM3.45), after the remaining four mobile operators in
2HCY22 (the second half ending Dec the research house rationalised the valua- the deal (Celcom, Digi, Yes and TM) to
31, 2022), as economies reopen and the tion basis to enterprise value/earnings be- increase their stakes in DNB, following
pandemic moves towards an end,” said fore interest, tax, depreciation and amor- the withdrawal of Maxis Bhd and U Mo-
Kenanga in a note onWednesday (Sept 7). tisation (EV/Ebitda) for Axiata’s operating bile Sdn Bhd.
businesses, while Digi’s TP was raised to
CGS-CIMB, meanwhile, believes RM4.25 (from RM3.70), after Kenanga Finance MinisterTengku Datuk Seri Za-
greater clarity of the 5G situation may switched to valuing the soon-to-be-merged frulTengku Abdul Aziz said talks were still
emerge in September, given recent com- Celcom-Digi entity. ongoing. He hoped to conclude the exer-
ments from the communications and mul- cise in two weeks, adding that the merged
timedia minister. Meanwhile, TM’s TP was raised to Celcom-Digi entity would only be allowed
RM7.75 (from RM6.70), after Kenan- to hold a maximum 25% stake in DNB.
“[Thus], we keep an ‘overweight’ rat-
ing of the Malaysian telco sector, as we
think the potential earnings hit from 5G
wholesale fees has already been factored
into telcos’ share prices, which are down
by an average of 19% year-to-date.

“Greater clarity of the 5G situation
could be a rerating catalyst, in our view.
Even if telcos were to sign-up on DNB’s
(Digital Nasional Bhd) current wholesale
terms, it would still help to provide cer-
tainty and dispel fears over potentially even
worse-case scenarios, while more favour-
able outcomes could lead to a more sig-
nificant upside, in our view,” the research
house said in a note on Monday.

MIDF Research, which maintained
its “neutral” rating of the sector, said the
completion of DNB’s stake offerings will

thursday september 8, 2022 5 TheEdge CEO morning brief

thursday SEPTEMBER 8, 2022 6 TheEdge CEO morning brief

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Zahid to know on Sept 23 whether defence
will be called in second graft case

by hafiz yatim
theedgemarkets.com

SHAH ALAM (Sept 7):The High Court Abdul Ghani and former administrative been tendered as evidence before the com-
has fixed Sept 23 to deliver its decision on manager David Tan Siong Sun. mencement of the trial.
whether to acquit or call former deputy
prime minister Datuk Seri Dr Ahmad Za- Hisyam said there were doubts about “They are fully aware, and the defence
hid Hamidi to enter his defence in relation the testimonies given, as some facts ap- should have filed the challenge before the
to 33 graft charges of receiving S$13.56 peared to have been omitted from the wit- commencement of this trial and not claim it
million (RM43.39 million) from Ultra ness statements. at the end of the prosecution stage,”he added.
Kirana Sdn Bhd (UKSB) to facilitate the
company’s foreign visa system and one- Prosecution says ‘money did not fall Lim further argued that the prosecu-
stop services in China. from the sky’ tion was not required to prove where the
The prosecution, led by Datuk Raja Rozela money came from as the plain reading of
The Umno president is also on trial RajaToran, contended that raising matters the charges indicated the accused had re-
for seven other bribery charges in his ca- that were not put in witness statements was ceived gratification from UKSB.
pacity as home affairs minister then, be- such a petty issue.
ing alleged to have obtained for himself “What is important is that the directors
bribes denominated in different curren- She maintained that the three witnesses of UKSB had been handing the money to
cies comprising S$1.15 million, RM3 mil- came on their own accord to testify that the accused. A plain reading of the charges
lion, €15,000 (RM67,032) and US$15,000 money was given to Zahid. is that money was given by the directors
(RM67,548) from UKSB. of UKSB,” he said.
“It is not as if the money had fallen
Judge Datuk MohdYazid Mustafa fixed from the seventh sky to them, but the fact Citing the Court of Appeal’s decision
the date after hearing oral submissions [was that] UKSB directors Wan Quoris with regard to former prime minister Da-
from the prosecution and the defence with and Lee testified they gave the money to tuk Seri Najib Razak’s SRC International
regard to the case. the accused and it originated from Hong Sdn Bhd case, he said if the prosecution
Kong,” she added. had to prove the source of the funds, it
MohdYazid directed both parties to file would be an unreasonable burden on them.
in the notes from their five-day oral sub- She reiterated it was not necessary for
missions by Sept 13, and the judge will de- the prosecution to prove or answer where “We have to remember that this is a graft
cide whether there is a prima facie case or the money came from. case and hence the money was paid in cash and
whether Zahid has a case to answer for in this was done to avoid detection,” he added.
relation to all 40 graft charges on Sept 23. “Nowhere [in testimonies] of Wan
Quoris and Lee [did they deny] going to Raja Rozela said that for all these rea-
Zahid’s second trial began on May Ahmad Zahid’s house to deliver the money sons, the court should find a prima facie
24, 2021 with 19 prosecution witnesses every month. It is to be noted that upon re- case against Zahid and defence should be
testifying. ceiving the moneyTan had kept it in a safe called. Besides Raja Rozela and Lim, DPP
[before making the delivery],” she added. Datuk Wan Shaharuddin Wan Ladin also
Earlier, the court heard submissions appeared for the prosecution.
from the defence who continued to ques- Meanwhile, deputy public prosecutor
tion the source of money allegedly paid by (DPP) Zander LimWai Keong, in response During the trial, it was revealed that
UKSB to Zahid. to the alleged political persecution against UKSB had sourced the money from Main-
Zahid, said that the court had no jurisdic- tech System HK Ltd and Visa Malaysia
The funds were said to have originated tion to decide on this issue. Ltd in Hong Kong.
from Hong Kong or Labuan.
He said the defence was fully aware of Both representatives from the two com-
Lawyer Hamidi Mohd Noh said the pros- the other recipients in the ledger that had panies have been offered to the defence,
ecution’s failure to call the Hong Kong wit- should Zahid’s defence be called.
nesses had broken the purported money trail
on whether it was truly UKSB that gave the
money to the former home minister.

Hamidi said testimonies from the Hong
Kong witnesses were needed to prove
whether the money truly existed.

“If the source of the funds cannot be
proven then the case should [be dropped].
It is not that there was a cheque for a cer-
tain amount was issued. There are also
questions on whether Ahmad Zahid tru-
ly received the purported cash money as
alleged,” he said.

Lead defence counsel HisyamTeh Poh
Teik questioned the credibility of three
UKSB witnesses, namely directors Harry
LeeVui Khiun andWan Quoris ShahWan

thursday september 8, 2022 7 TheEdge CEO morning brief

thursday SEPTEMBER 8, 2022 8 TheEdge CEO morning brief

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Zahid Izzani Mohd Said/The Edge Wednesday (Sept 7) morning, AmIslam- Appeals court allows
ic Bank cheque processing centre senior Khalid, Malaysiakini
Najib wrote 38 manager Badrul Hisham Mohamad ver- outfit to seek costs
cheques for over ified these cheques and their recipients, from Tajuddin after
RM8.4 mil from continuing from his testimony onTuesday.
private AmBank defamation suit
account to Umno, Among the recipients of the cheques dismissed
Barisan Nasional, in various amounts were Umno’s Pekan
among others division,Wanita Umno Pekan, Umno Se- by hafiz yatim
langor, Wanita Umno Selangor, Barisan theedgemarkets.com
by Timothy Achariam & Tarani Palani Nasional BandarTun Razak division, Seri-
theedgemarkets.com an MP Datuk Seri Richard Riot Jaem and PUTRAJAYA (Sept 7): Shah Alam Mem-
former minister of lands and co-operatives ber of Parliament KhalidAbdul Samad and
KUALA LUMPUR (Sept 7): Former development Tan Sri Kasitah Gaddam. news portal Malaysiakini outfit KiniTV
prime minister Datuk Seri Najib Razak Sdn Bhd have been granted permission by
issued 38 cheques totalling more than The witness verified that Najib, who is the Court ofAppeal onWednesday (Sept 7)
RM8.4 million between the period of currently Pekan Member of Parliament, to seek costs from Pasir Salak MP Datuk
March 2011 and May 2012 from his Am- had issued RM2 million in two separate SeriTajuddin Abdul Rahman following the
Bank private account ending in “9694”. cheques to Umno’s Selangor division, and dismissal of his defamation suit.
RM1.9 million toWanita Umno Selangor.
Testifying at the 1Malaysia Devel- Judges DatukYaacob Md Sam and Da-
opment Bhd (1MDB)-Tanore trial on On April 16, 2012, Najib also issued tuk ES Nantha Balan as well as High Court
a cheque to property tycoon Tan Sri Lim judge Datuk Lim Chong Fong unanimous-
Soon Peng for RM1 million. ly allowed leave when Tajuddin’s lawyer
Muzzamil Merican did not object to the
Najib also wrote a cheque worth motion filed by Khalid and KiniTV.
RM360,000 to one KL Media House.
As a result, the appellate court saw
In the trial before judge Datuk Collin there are merits to the application and
Lawrence Sequerah, it is the prosecution’s directed Khalid and KiniTV to file their
contention that the money in the “9694” notice of appeal within the next 14 days.
account linked to Najib is part of the in-
famous RM2.6 billion which prosecutors KiniTV was represented by K Shan-
say is traceable to 1MDB. muga, who confirmed the outcome to
theedgemarkets.com. Khalid was repre-
Najib is charged with four counts of sented by Jaden Phoon Wai Ken.
abuse of power and 21 counts of money
laundering of RM2.28 billion of 1MDB In February, the High Court dis-
funds. If convicted, he could be jailed for missed Tajuddin’s defamation suit
up to 20 years and fined. against the duo, as Judicial Commis-
Read the full story sioner Datuk Seri Latifah Mohd Tahar
ruled thatTajuddin’s behaviour was out-
PUTRAJAYA (Sept 7):A financial manager Two remanded in rageous.Tajuddin used unparliamentary
and the head of the marketing department RM10 mil graft probe statements against Seputeh MP Teresa
of a company were remanded for three days linked to construction Kok during parliamentary proceedings.
starting Wednesday (Sept 7) to assist the work project for a public
Malaysian Anti-Corruption Commission She also ruled that KiniTV and the
(MACC) in an investigation into a case of transport system New Straits Times, which were also sued,
bribery amounting to more than RM10 mil- were merely reporting the facts and fulfill-
lion to facilitate the takeover of a construction Bernama ing their duties in the interest of the public.
work project for a public transport system.
financial and procurement procedures. In February 2017, Tajuddin sued
The remand order was issued by magistrate The source added that the male sus- Khalid over comments made in a series
Izra Zulaikha Rohanuddin, after granting the of press conferences against theTajuddin
MACC’s application to remand the woman pect is suspected of making payments to after a dispute between the two MPs dur-
and man, both in their early 40s, at the Putra- six different individuals and entities that ing a Dewan Rakyat proceeding in 2016.
jaya Magistrate’s Court here onWednesday. are suspected to be fake. MACC investi-
gations division senior director Datuk Seri During the said proceeding, Tajud-
According to an MACC source, the duo Hishamuddin Hashim, when contacted, din had referred to Kok in Parliament
were arrested at the MACC headquarters confirmed the arrest of the two individuals as “the only woman with a Kok”, which
here at about 9.30pm on Tuesday, when to assist the commission in the investigation prompted Khalid to respond by calling
they came to give their statements. under Section 16 of the MACC Act 2009. Tajuddin “sial” (cursed).

The source said the female suspect, who The Section deals with offences and Although Latifah dismissed the suit
is the financial manager, is believed to have penalties for soliciting, accepting or offering by Tajuddin, she did not order costs to
paid bribes to facilitate the acquisition of bribes for the benefit of oneself or others. be paid to the defendants, resulting in
work involving the project from another Khalid and KiniTV filing this application.
company to the company she works for.
Tajuddin did not appeal the High
The woman responsible for paying Court decision.
the money is believed to have done so
without complying with the company’s

thursday SEPTEMBER 8, 2022 9 TheEdge CEO morning brief

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KUALA LUMPUR (Sept 7): The pros- Prosecution closes Zahid Izzani Mohd Said/The Edge
ecution in former prime minister Datuk its case in 1MDB
Seri Najib Razak’s 1Malaysia Development Arul Kanda is charged with abetting Najib in the
Bhd (1MDB) audit report tampering tri- audit report 1MDB audit report tampering trial.
al closed its case on Wednesday (Sept 7), tampering trial
with a total of 16 witnesses having testified. 1MDB’s 2014 financial statements.
by Tarani Palani Arul Kanda is charged with abetting
The witnesses in the trial, which began theedgemarkets.com
in November 2019, included Najib’s co-ac- Najib.
cused, former 1MDB president and chief Trial judge Mohamed Zaini Mazlan set However, on June 24, Mohamed Zaini
executive officer Arul Kanda Kandasamy. Oct 7 for all parties to exchange submis-
sions and Oct 14 for responses. allowed the prosecution’s application for
“We close our case.We offer a list of 18 Arul Kanda to testify as a witness under
witnesses [to the defence],” said lead pub- He also set Oct 28 for further oral clarifi- Section 63 of the Malaysian Anti-Corrup-
lic prosecutor Datuk Seri Gopal Sri Ram. cation, after which he will determine wheth- tion Commission (MACC) Act 2009.
er there is a prima facie case against Najib
The witnesses offered include former and if the imprisoned former prime minister Mohamed Zaini also clarified on
Public Accounts Committee (PAC) chiefs has to enter his defence against the charges. Wednesday that he will make his ruling
Datuk Nur Jazlan Mohamed and Tan Sri on Arul Kanda’s indemnity at the end of
Hasan Arifin, former director of the Na- In this trial, Najib is charged with abuse the prosecution’s case.
tional Revenue Recovery Enforcement of power as a public officer in his capaci-
Team (NRRET) at the Attorney Gener- ty as the then prime minister and finance This was so he could weigh Arul Kan-
al’s Chambers (AGC) Tan Sri Dzulkifli minister in altering the 1MDB audit re- da’s testimony against all the evidence
Ahmad and former 1MDB CEO Datuk port which was to be tabled to the PAC in presented.
Shahrol Azral Ibrahim Halmi. 2016.This was so that no action could be
taken against him by Parliament.
Also on the list of witnesses offered is
The Edge Media Group chairmanTan Sri Among the items removed included fu-
Tong Kooi Ong. gitive financier LowTaek Jho’s presence at
1MDB board meetings, and portions of
Over a total of 43 days of the trial, the
witnesses who took the stand included
former auditors general Tan Sri Ambrin
Buang and Tan Sri Dr Madinah Moham-
ad as well as former chief secretary to the
government the late Tan Sri Ali Hamsa.

PUTRAJAYA (Sept 7): A three-mem- Appellate court In July 2021, then High Court judge
ber Court of Appeal bench on Wednes- dismisses Datuk Mohd Nazlan Mohd Ghazali dis-
day (Sept 7) dismissed the appeal by the missed the Government’s striking out ap-
inspector general of police (IGP), the govt’s appeal plication, as it could not accept the Gov-
police, the Government and the Home to strike out ernment’s contention that the suit is a
Ministry to strike out a nonfeasance suit Indira Gandhi’s multiplicity of proceedings.
by kindergarten teacher M Indira Gan- RM100 mil suit
dhi, whose youngest daughter had been This followed Indira having ongoing ju-
snatched away by her former husband af- by Hafiz Yatim dicial proceedings in the Ipoh High Court,
ter he converted to Islam. theedgemarkets.com which is still monitoring the progress of the ex-
ecution of the committal order that was issued
Judge Datuk Hanipah Farikullah, who The bench that also consisted of judg- against her former husband K Pathmanathan
led the bench, in the unanimous decision es Datuk M Gunalan and Datuk Ahmad @ Muhammad Ridhuan Abdullah in 2014.
said there was no error by the High Court Zaidi Ibrahim ordered the Government to
judge to dismiss the striking out applica- pay costs of RM10,000 to Indira. “This is primarily because both the
tion by the appellants (the Government, cause of action of the tort of nonfeasance
police, IGP and Home Ministry). Hanipah also fixed the date of case and the remedy of damages in this suit
management of the suit as Sept 14 in the have never been raised before in any other
“The bench finds there is no merit in High Court. proceedings. Indira Gandhi in the judicial
the appeal. We are of the view that the review was granted the mandamus in re-
High Court judge was correct in his find- Indira’s counsel Rajesh Nagarajan, spect of the committal order, which was
ing on whether the appellants are liable who appeared with Sachpreetraj Singh affirmed by the Federal Court.
for the tort of nonfeasance that needs to and Pavitra Loganathan, when contact-
be dealt with through a trial. ed, confirmed the outcome of the Court “That does not, however, bar her from
of Appeal’s decision. instituting a civil claim like presently to
“The facts and circumstances are com- seek damages for the loss she claims to
plex issues of law, which need to be ven- The Government and the other re- have suffered, as a result of the alleged
tilated, including covering Section 7(2) spondents were represented by senior nonfeasance of the defendants in respect
of the Government Proceedings Act, the federal counsel Andi Razali Jaya A Dadi. of the mandamus and committal order,”
Police Act and also the common law re- Nazlan said in delivering his judgement.
garding the tort of nonfeasance.We are of
the considered view this case is not an ob- Nazlan has now been elevated to the
vious case to order a striking out. Hence, Court of Appeal.
we dismiss the appeal,” she said in online Read the full story
proceedings on Wednesday.

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KUALA LUMPUR (Sept 7): Axiata Boost foresees loan has been quite low, low single digit,”
Group Bhd’s fintech arm Boost Hold- revenue growth he revealed.
ings Sdn Bhd expects revenue growth to
moderate to 35% this year, from 111% in moderating “One of the things that we have done
2021 and 52% in 2020, as consumer be- in 2022 over the last three [or] four years is we
haviour normalises going into an endemic gather an amount of data, understand the
stage of Covid-19. by Dilpreet Kaur & Chester Tay data so we can evaluate these businesses.
theedgemarkets.com Yes, it is a risky sector, but we are in the
“A lot of that [growth] was propelled process of making a calculated decision
by the pandemic over the last two years. Low Yen Yeing/The Edge from this.
For us, the pandemic accelerated an ap-
proach that we are already on and validated Sheyantha: In our business, we have “Our experience from the last three
what we fundamentally believe in,” said continuously been growing, but at the same years is that this is a sector that can be
group chief executive officer Sheyantha serviced in quite a profitable manner with
Abeykoon. time we have been focusing on building a low non-performing loans, good quality
sustainable path for our business. Focus on customers if you provide them the right
“In our business, we have continuously growth, but growth that is not a flash in the pan. product, at the right pricing and right
been growing, but at the same time we have time,” he said, but declined to say when
been focusing on building a sustainable ital bank with RHB Bank Bhd within 24 the new digital bank would be launched.
path for our business. Focus on growth, months.
but growth that is not a flash in the pan,” “Everything is on track; we are not guid-
he told reporters at the launching ceremo- Of the RM1.6 billion in loans disbursed, ing on any specific timeline.We have a lot
ny of Boost’s brand Refresh. Sheyantha said RM1 billion was given to of building blocks in place already.Twen-
Malaysian customers. ty-four months is the timeline given by
Boost remains in the red but losses have Bank Negara Malaysia to launch. What
been trending downwards since 2019, ac- Although he did not share the loan I can say is we are on track in terms of
cording to Sheyantha. amount disbursed for the first half of the our plans.”
year, Sheyantha said Boost’s loan book has
“The company has not been profitable doubled from a year ago, owing mainly to In April, the central bank awarded five
today, as we grow, we are consolidating our small businesses. digital bank licences with those awarded
bottom-line. If you think of a digital com- given up to 24 months to commence op-
pany four [or] five years ago, the playbook “Small business sector has not been erations.
was growing the topline with a lot of cash. served adequately. Our non-performing
That is an easier way to grow, because you Last month, RHB group manag-
are growing your business faster, but you ing director and chief executive officer
are burning more cash. Mohd Rashid Mohamad told media
that the bank’s partnership with Boost
“It is a lot tougher if you are growing a could launch its digital bank in between
digital business by consolidating your bot- 16 and 18 months, ahead of the central
tom-line, and we have done that.That puts bank deadline.
us in a slightly different position from other
companies, to have a sustainable business On its expansion, Sheyantha said Boost
model,” he maintained. is aiming to enter a new market going into
2023, while doubling down on its presence
Sheyantha also revealed that Boost has in Indonesia.
disbursed a total of RM1.6 billion in loans
to its customers since its inception in 2017, “I won’t mention any specific market, as
and that it is on track to meet Bank Ne- and when opportunity arises, we will look
gara Malaysia’s deadline to launch a dig- at that.We look at opportunities beyond the
two markets that we operate in,” he said.

KUALA LUMPUR (Sept 7): The inter- Bank Negara’s (SDRs) stood at US$5.7 billion and gold
national reserves of Bank Negara Malaysia international at US$2.3 billion.
fell 2.4% to US$108.2 billion as at Aug reserves fell 2.4%
30, from US$110.9 billion as at Aug 15. to US$108.2 bil as The assets comprised gold, foreign ex-
at Aug 30, from change and other reserves including SDRs
In a statement, the central bank said US$110.9 bil (RM476.5 billion), Malaysian government
the reserves position is sufficient to finance papers (RM12.12 billion), loans and ad-
5.4 months of imports of goods and ser- on Aug 15 vances (RM23.64 billion), land and build-
vices and is 1.1 times the total short-term ings (RM4.14 billion) and other assets
external debt. theedgemarkets.com (RM34.18 billion).

According to Bank Negara, the coun- Meanwhile, capital and liabilities com-
try’s foreign currency reserves declined prised paid-up capital (RM100 million),
2.4% to US$96.1 billion as at Aug 30 from reserves (RM161.65 billion), currency in
US$98.5 billion on Aug 15. Other reserve circulation (RM157.23 billion), depos-
assets also fell to US$2.8 billion as at Aug its by financial institutions (RM165.97
30 from US$3.1 billion on Aug 15. billion), federal government depos-
its (RM12.96 billion), other deposits
However, other main components of (RM12.06 billion), Bank Negara papers
the international reserves such as the In- (RM8.26 billion), allocation of SDRs
ternational Monetary Fund reserves posi- (RM28.25 billion) and other liabilities
tion remained at US$1.3 billion during the (RM4.1 billion).
same period, while special drawing rights

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Shahrin Yahya/The Edge

KUALA LUMPUR (Sept 7): AMMB AmBank sees
Holdings Bhd (AmBank) is seeing more more demand
demand in green financing this year, ac-
cording to chief executive officer Datuk for green
Sulaiman Mohd Tahir. financing in

“Last year, [a total of] RM3.7 billion FY23
loan was disbursed. But this year, we are
starting to see more [demand]. In the first by Syafiqah Salim
quarter [ended June 30, 2022 (1QFY23)], theedgemarkets.com
we gave RM400 million in loans.
AMMB Holdings Bhd chief executive officer Datuk Sulaiman Mohd Tahir
“And with Malaysia’s commitment to
moving towards zero carbon emissions by “We are proud of Kerjaya Prospek Prop- Chuon said this green loan is a testament
2050, I want to make sure that the com- erty’s milestone in making greener deci- to the group’s commitment to including
panies we lend to can reduce their carbon sions for their upcoming project, Blooms- more sustainable projects in its portfolio
emissions.We encourage all our developers vale.This initiative is in line with AmBank and to being more responsible in its de-
to build green,” Sulaiman told the media Group’s efforts to enhance and optimise velopment and construction.
after the signing ceremony between Am- our financing facilities to positively impact
Bank and Kerjaya Prospek Property Bhd our stakeholders and continuously improve “We are optimistic about embracing
on Wednesday (Sept 7). customers’ experience under our broader green initiatives and we will be launching
ESG agenda. We are pleased to support more green developments in the near fu-
AmBank on Wednesday entered into Kerjaya Prospek Property in the green en- ture,” she added.
a RM100 million green financing facility deavours and we look forward to the end-
with Kerjaya Prospek Property for the de- less possibilities that this partnership might AmBank shares closed up 0.25% to
velopment of the Courtyard by Marriott bring in the future,” added Sulaiman. RM4.05 on Wednesday, with a market
Hotel in Bloomsvale, an upcoming mixed value of RM13.42 billion.
development along Old Klang Road. Meanwhile, Kerjaya Prospek Proper-
ty executive chairperson Datin Toh Siew Kerjaya Prospek Property’s share price fin-
It is part of AmBank’s efforts to offer its ished 0.5 sen or 0.79% higher at 64 sen,giving
customers with green financing options as it a market capitalisation of RM1.48 billion.
it furthers its goal in driving the group’s en-
vironmental, social and governance (ESG)
sustainability initiative.

Bloomsvale is a mixed development
which comprises a hotel, serviced apart-
ments, office suites, and a shopping mall.
The projects will be certified with Green-
RE’s platinum rating for its residential
area, and gold rating for its commercial
buildings.

KUALA LUMPUR (Sept 7): The Secu- SC’s audit The AOB found the reversion to be in-
rities Commission Malaysia’s (SC) Audit oversight board appropriate, and inconsistent with the im-
Oversight Board (AOB) has fined two part- fines, bans partners plementation of the MFRS by the Malay-
ners of Kreston John & Gan, and banned of Kreston John & sian Accounting Standards Board.
them from accepting and auditing any pub- Gan from auditing
lic interest entities (PIEs) as well as sched- “Lee failed to perform audit procedures
uling funds for 12 months, effective Aug 3. for a year of accounting estimates relating to prop-
erty development costs, and in obtaining
The partners are Charles Lee King by Dilpreet Kaur appropriate audit evidence to support his
Long, who was fined RM35,000, and Gan theedgemarkets.com conclusions,” it said.
Kim Guan, who was fined RM17,500, said
the commission in a statement. The AOB added that the documenta-
tion in support of the conclusions in many
“The AOB found breaches and sanc- instances was found to be incomplete or
tions on Lee and Gan, as they failed to inadequate.
comply with relevant International Stand-
ards on Auditing when they were auditing “[Meanwhile], Gan, as the engagement
a PIE,” it said. quality control reviewer (ECQR), failed to
sufficiently review the selected audit docu-
The partners were accorded due pro- mentation relating to significant judgements,
cess that included an opportunity to appeal risk areas of the engagement, and the basis
against the board’s decision. of the conclusions reached by Lee”, it said.

According to the SC, Lee, as an engage- This was apparent in the application of
ment partner for a PIE client, wrongful- the accounting framework, property devel-
ly assessed the PIE’s reversion from the opment costs, trade receivables, revenue
Malaysian Financial Reporting Standards and going concern, according to the SC.
(MFRS) accounting framework to Finan-
cial Reporting Standards for the financial “The EQCR has a crucial role in safe-
year ended Dec 31, 2016. guarding the integrity of the audit quali-
ty control process,” said the commission.

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KUALA LUMPUR (Sept 7): Jade Marvel Boardroom ing disposed of 10.6 million shares which
Group Bhd has announced a number of changes at were held under X Infinity Holdings on Sept
boardroom changes following the outcome Jade Marvel 6 through an open market transaction. X
of its 20th annual general meeting (AGM) with rejection of Infinity Group had indirectly held 5.733%
and extraordinary general meeting (EGM) diversification or 18.8 million shares prior to the disposal.
which were held on Wednesay.
plan One of the resolutions at Jade Marvel’s
In a filing with the local bourse on EGM sought the proposed diversification
Wednesday, Jade Marvel, which is involved by shazni ong of the group’s existing businesses to in-
in investment holdings, manufacturing, theedgemarkets.com clude mining, sale and trading of iron ore,
property development and moneylend- dolomite, sand and other minerals.
ing, announced the retirement of Chong
Wei Liang, 38, as deputy chairman. Chong Three shareholders representing
owns 1.49 million shares in Jade Marvel but 57.9848% of Jade Marvel’s total shares or
did not receive sufficient votes at the com- 53.55 million shares voted against the res-
pany’s AGM to be re-elected as a director. olution while 26 shareholders representing
42.0152% or 38.8 million shares voted for it.
The group also announced the resig-
nation of Datuk Khoo Yik Chou, 35, as Jade Marvel’s EGM circular said the
joint managing director, “to pursue oth- proposed diversification was in line with the
er opportunities and personal interests”. group’s objective to expand its revenue stream
by diversifying into the new business to en-
Khoo, who currently holds 1.23 million hance shareholder value in the long term.
Jade Marvel shares, is also the non-inde-
pendent and non-executive director of Sil- Jade Marvel’s share price finished un-
ver Ridge Holdings Bhd, positions he has changed at 27 sen, which translates into a
held since Oct 16, 2020. market capitalization of RM88.6 million.

In addition, Jade Marvel announced the
appointment of SeahYee Teng as an inde-
pendent and non-executive director. Datuk
Seri Chong Wei Chuan has also been ap-
pointed an executive director of the company.

Wei Chuan,33,is an entrepreneur who be-
gan his career in fintech as he founded X-Pay
& started X Infinity group which developed
X Infinity Blockchain and X-Pay wallet.

Wei Chuan currently holds 3.39 million
shares and indirectly holds 8.2 million shares
in Jade Marvel. He ceased to be a substantial
shareholder following his disposal of 10.6 mil-
lion shares on Sept 6 in the market. He had
held the shares via both direct and indirect
interest under X Infinity Holdings Sdn Bhd.

X Infinity Group Bhd also ceased to be a
substantial shareholder of Jade Marvel hav-

KUALA LUMPUR (Sept 7): Kejuruter- Kejuruteraan As the SES business is anticipated to con-
aan Asastera Bhd (KAB) has proposed to Asastera plans tribute 25% or more of the net profits and/or
diversify into the sustainable energy solu- sustainable energy result in a diversion of 25% or more of the
tions (SES) segment, and is planning to solutions foray net assets moving forward, the KAB board
raise RM119 million from a private place- and RM119.2 mil will be seeking approval from its shareholders
ment partly to fund the diversification. for the proposed diversification at an extraor-
fundraising dinary general meeting to be convened later.
“As part of the group’s strategy to di-
versify its business and create an addition- theedgemarkets.com The group is also planning to raise
al source of income on top of the existing RM119.18 million from a private place-
contribution from its core mechanical & ment of up to 351.58 million new shares,
electrical engineering business, the group representing up to 20% of its total number
has been steadily venturing into the SES of issued shares, to independent third party
business since 2019. investors to be identified later.

“In view that both businesses are com- The bulk of the funds to be raised
plementary with each other and may share (RM49.65 million) will be used to fund ex-
similar target customer segments, this ini- isting and future SES projects, and RM36
tiative is in line with the group’s aim of be- million and RM32 million for working cap-
coming a one-stop engineering and energy ital and repayment of bank borrowings,
solutions provider in the market,” KAB respectively.
said in a filing with the stock exchange on
Wednesday (Sept 7). KAB’s share price closed half a sen or
1.22% higher at 41.5 sen.

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news In brief

Trive Property aborts talks to build material financial impact on the company Iskandar Waterfront City appoints
SPNB project worth RM1.1 bil for the financial year ending July 31, 2023 Crowe Malaysia as new external
KUALA LUMPUR (Sept 7): Trive Property (FY23),” it noted, without disclosing the auditor
Group Bhd announced that it has cut off reason for the termination. This comes KUALA LUMPUR (Sept 7): Iskandar
talks with Syarikat Perumahan Negara nearly five years after the pair inked Waterfront City Bhd (IWCity) has
Bhd (SPNB) in relation to being a turnkey the MOU on Oct 19, 2017 to negotiate appointed Messrs Crowe Malaysia
contractor for an affordable housing exclusively for the proposed appointment PLT as its new external auditor. “The
project amounting to RM1.1 billion in gross of Trive Property as the project’s turnkey board of directors of IWCity wishes to
development value (GDV). In a bourse filing contractor with the intention to finalise and announce that the board has approved
on Wednesday, Trive Property said its unit enter into a definitive agreement for the the audit committee’s recommendation
Trive Property Sdn Bhd (TPSB) has sent a award. — by Izzul Ikram to appoint Crowe Malaysia as the new
letter to SPNB’s wholly owned subsidiary external auditor of the company for the
Tenaga Meriah Sdn Bhd (TMSB) to abort TAFI Industries win RM115 mil financial year ending Dec 31, 2022,”
the Memorandum of Understanding contract from Magna Prima to build the property developer said in a filing
(MOU) they had entered into in 2017 serviced apartments in Kepong with Bursa Malaysia on Wednesday
to facilitate talks on the matter. “As the KUALA LUMPUR (Sept 7): Furniture maker- (Sept 7). Its previous external auditor
MOU is non-binding, the company is of cum-builder TAFI Industries Bhd has secured Messrs Ernst & Young PLT (EY) has
the view that TPSB and TMSB shall have a RM115 million contract from Magna resigned, as the group adhered to “good
no whatsoever claims against each other Prima Bhd to build serviced apartments in corporate governance” by revisiting the
arising from the MOU. “The termination Kepong, Kuala Lumpur over four years. TAFI appointment of its external auditor from
of the MOU is not expected to have any Industries said its wholly owned subsidiary time to time. However, IWCity noted
TAFI Home & Office Sdn Bhd (formerly that the appointment is still subject to
Haily bags RM17.5 mil contract from known as Home & Office Furniture Sdn Bhd) the company receiving Crowe Malaysia’s
Mah Sing to build double-storey accepted a turnkey construction contract written consent to act as its external
homes in Johor awarded by Magna Park Sdn Bhd, an indirect auditor pursuant to Section 264(5) of
KUALA LUMPUR (Sept 7): Construction wholly owned unit of Magna Prima. Magna the Companies Act 2016. On Tuesday,
player Haily Group Bhd has won a Park has also appointed TAFI Industries’ IWCity received a notice in writing from
second contract worth RM17.5 million wholly owned TA Furniture Industries Sdn EY of the latter’s move to resign on a
from Mah Sing Group Bhd in less than a Bhd as the project’s management consultant. voluntary basis. The auditor’s term of
year to build 108 double-storey terrace TAFI Industries group chief executive officer office is to end 21 days from Sept 27.—
homes in the latter’s largest integrated Datuk Seri Bryan Wong said the contract will by Izzul Ikram
township in the Eastern Gateway of contribute positively to the group’s earnings
Iskandar Malaysia, Johor. Haily’s wholly- from the financial year ending Dec 31, 2023 power plants comprise six stations
owned Haily Construction Sdn Bhd has (FY23) to FY25. — by Chester Tay with a total capacity of 649.1MW. —
accepted a Letter of Award (LOA) from theedgemarkets.com
Mah Sing’s unit, Meridin East Sdn Bhd, TNB: PPA for Sungai Perak power
for the construction of Parcel 2H3 of plants granted five-year extension
the Meridin East township. The job will KUALA LUMPUR (Sept 7): The Energy
take a period of 16 months, with the Commission has extended Tenaga
commencement date to be advised by Nasional Bhd’s (TNB) existing power
the superintending officer. The first purchase agreement (PPA) for the Sungai
contract Haily won from Mah Sing Perak hydroelectric power plants by five
was worth RM24.5 million in October years from Sept 1, 2022 until Aug 24,
last year to build 155 double-storey 2027. The utility giant told Bursa Malaysia
terrace homes, also for the Meridin East on Wednesday (Sept 7) that its wholly
township. — by Shazni Ong owned subsidiary TNB Power Generation
Sdn Bhd had received an extension letter
from the Energy Commission. TNB’s

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Labour shortages ing year, adding to a broader global edible Government
set up Malaysia oil shortage triggered by the Russia-Ukraine guarantees
for third year of war.That pushed palm oil prices to record freedom of
palm oil losses highs in March, inflating prices of foodstuffs, press, says PM
detergent, and other palm oil-based products.
by Mei Mei Chu Bernama
Reuters Since then though, palm oil prices have
slid lower following the resumption of exports KUALA LUMPUR (Sept 7): Prime
KUALA LUMPUR (Sept 7): Malaysian from rival Indonesia, the world’s biggest palm Minister Datuk Seri Ismail Sabri on
palm oil planters are letting thousands of oil producer, and a rebound in world oilseed Wednesday (Sept 7) assured media
tonnes of fruits rot as the third year of a production,with estimates of all-time high soy- practitioners in the country that they
worker shortage has left companies una- bean output in the United States and Brazil. are free to report any news but the
ble to increase their harvesting during the reports should be based on accurate
peak production season. Chicago soybean oil has fallen 25% and authentic facts.
since hitting its all-time peak in April.
Palm oil output in Malaysia, the world’s In their role as disseminators of in-
second-largest producer, is forecast to de- Slow return of workers formation, the prime minister said he
cline, or at best remain unchanged, from Malaysia’s palm industry expected its la- believes media practitioners are aware
last year’s 18.1 million tonnes, according bour woes to ease after the government lift- of their limitations and responsibilities.
to planters and analysts. ed the Covid-19 freeze on recruitment in
February, with the MPOA expecting the “The media must be responsible,
Plantations across the Southeast Asian entry of 52,000 migrant workers. However, which is to tell the truth, to provide true
nation are facing their worst labour crisis only several hundred workers have arrived, information. If the information is true,
since the industry began in 1917, with the largely because of slow government approv- there will be no objections and con-
arrival of migrant workers that are the core als and concerns over worker protections. straints from the government on how
of the industry’s labour force at a “snail’s the news is to be delivered,” he said.
pace”, the Malaysian Palm Oil Associa- The MPOA estimated only 12% of ap-
tion’s (MPOA) chief executive JosephTek, provals for migrant workers granted to com- Ismail Sabri told reporters this
told Reuters, despite the lifting of corona- panies across all industry sectors in Malaysia during a visit to Media Prima in Sri
virus-related hiring restrictions. have successfully translated into boots on the Pentas, here onWednesday. Earlier,
ground. Migrants, mainly from Indonesia he was interviewed by Hot FM, 8
A lack of skilled harvesters means com- and Bangladesh, make up around 80% of FM, and Molek FM radio channels.
panies cannot fully capitalise on the peak the workforce in Malaysian estates.
harvest season that spans from August to He said the government’s guar-
November, forgoing a boost of growth Malaysia’s Ministry of Human Resources, antee of press freedom is reflected
from recent rains. which is responsible for approving the in- in its actions.
take of foreign workers, did not immediately
“The plantation industry is no longer respond to Reuters queries for a comment “If they go beyond what is al-
at the breaking point, it has been pushed on the labour crunch. Messages sent to the lowed, the government will definite-
beyond the breaking point,”Tek said. Human Resources Minister Datuk Seri Sar- ly reprimand them, [but] so far, no
avanan Murugan were not replied to as well. media [organisation] has been closed
Production shortfalls in Malaysia will down or had its licence revoked.
support prices for benchmark crude palm FGV Holdings Bhd, the world’s largest
oil futures, the most-traded vegetable oil in crude palm oil producing firm, said it has “This means there is freedom of
the world, which have lost half their value received 647 migrant workers this year and it the press,” he said.
after hitting a record in March. has only filled 62% of its required workforce.
Describing the role of mainstream
Travel restrictions enacted in 2020 to The firm was optimistic it will receive media as very important in dissemi-
fight the Covid-19 pandemic left the Ma- 7,000 workers by the end of the year, FGV nating accurate information, the prime
laysian palm oil industry short of 120,000 said in a stock exchange filing on Aug 30. minister said the public should not only
foreign workers needed to maintain trees However, any incoming workers will miss rely on social media for information.
and harvest fruit bunches. the crucial high crop season.
“As we know, inaccurate and dis-
After that, oil palm yields plummeted to As harvesting time at some plantations torted information is being dissemi-
near 40-year lows in the 2020/21 market- extends to as much as 90 days from the nated, causing people to be confused.
usual 10 to 15, producers are losing up to
a quarter of their crops, the MPOA said. “That’s why it’s important for
It estimated opportunity losses from un- the mainstream media, such asTV3
realised crop and palm products could ex- and the print media, to provide ac-
ceed RM20 billion by the end of the year. curate information, not misleading
ones,” he said.
reuters

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Putin saysWest is failing,
the future is in Asia

VLADIVOSTOK, Russia (Sept 7): Presi- Reuters its will on the world but that their power was
dentVladimir Putin said onWednesday (Sept in decline as the crucible of global growth
7) that the West was failing because a futile tory,Western countries are undermining the was now in Asia.
and aggressive attempt to isolate Russia with key pillars of the world economic system
sanctions was destroying the global economy built over centuries,” Putin said, adding that “Irreversible and even tectonic changes
just as Asia was rising to claim the future. confidence in the dollar, euro and sterling have taken place throughout international
was falling. relations,” Putin said. “The role of dynam-
The US and its allies imposed the most ic, promising countries and regions of the
severe sanctions in modern history on Russia Russia sent tens of thousands of troops world, primarily the Asia-Pacific region, has
for what Putin casts as a special military op- into Ukraine on Feb 24 in what it called significantly increased.”
eration in Ukraine. Putin says the sanctions a special operation to degrade its southern
are akin to a declaration of economic war. neighbour’s military capabilities and root Among the guests at the forum was Chi-
out people it called dangerous nationalists. na’s top legislator Li Zhanshu, currently
Putin, speaking to the Eastern Economic ranked No 3 in the Chinese Communist
Forum in the Russian Pacific city of Vlad- Ukrainian forces have mounted stiff resist- Party.
ivostok, said theWestern sanctions on Rus- ance. Neither side has disclosed how many
sia had replaced the Covid pandemic as the soldiers have been killed. Putin said that China would pay Gaz-
main threat to the global economy. prom for its gas in national currencies, based
TheWest’s attempt to economically iso- on a 50-50 split between the Russian rouble
“I am speaking of the West’s sanctions late Russia — one of the world’s biggest pro- and Chinese yuan.
fever, with its brazen, aggressive attempt to ducers of natural resources — has propelled
impose models of behaviour on other coun- the global economy into uncharted waters Putin also said Russia’s economy was
tries, to deprive them of their sovereignty and with soaring prices for food and energy. coping with what he termed the financial
subordinate them to their will,” Putin said. and technological aggression of theWest, but
It has hurt Russia too. acknowledged some difficulties in some in-
“In an attempt to resist the course of his- Putin said theWest was trying to impose dustries and regions.

‘Russia to stop supplying energy if Western price caps imposed’

VLADIVOSTOK, Russia (Sept 7): Presi- by Vladimir Soldatkin sending wholesale gas prices soaring.
dentVladimir Putin onWednesday (Sept 7) Reuters Putin said Germany andWestern coun-
threatened to cut off energy supplies if price
caps are imposed on Russia’s oil and gas ex- “We will not supply gas, oil, coal, heating tries themselves were to blame for the Nord
ports, warning theWest it would be “frozen” oil — we will not supply anything,” Putin said. Stream 1 pipeline not being operational
like a wolf’s tail in a famous Russian fairy tale. and that Ukraine and Poland decided on
Russia’s paramount leader added some their own to switch off other gas routes
Cutting supplies from Russia, the defiant spice from the famous Russian fairly into Europe.
world’s second largest oil exporter after tale “The Sister-Fox and the Wolf”.
Saudi Arabia and the world’s top natural “Nord Steam 1 is practically closed
gas exporter, would roil global energy mar- “We would only have one thing left to do: now,” Putin said as he called on Germany
kets, leaving the world economy facing even as in the famous Russian fairy tale, we would to return a separate turbine for the pipe-
higher energy prices. sentence the wolf’s tail to be frozen,” Putin said. line’s Portovaya compressor station that
would allow Russia to resume pumping gas.
Speaking at an economic forum in Rus- Europe usually imports about 40% of its
sia’s Pacific city of Vladivostok, Putin said gas and 30% of its oil from Russia. “There is an oil leak there — it’s a pos-
European calls for a price cap on Russian gas sibly explosive situation, a fire hazard.The
were “stupid”, and would lead to higher glob- Since he ordered the Feb 24 military op- turbine cannot work. Give us a turbine and
al prices and economic problems in Europe. eration in Ukraine, Putin says the US and we will turn on Nord Stream 1 tomorrow.
its allies have embarked on economic war But they don’t give us anything,” he said.
The Group of Seven (G7) wealthy de- on Russia with the most severe sanctions in
mocracies announced plans to impose a modern history, warning that they will face Russia says it needs “proper” paperwork
price cap on Russian oil exports last week an energy crisis as a result. before it will accept delivery of the turbine
in a move that could also restrict Russia’s following maintenance. Germany says the
ability to secure tankers and insurance from Since the conflict began, European Un- turbine is ready to be returned.
countries beyond the G7. ion customers have pledged to reduce their Read also:
reliance on Russian energy while Russia has Putin wants to restrict destinations for
Russia would walk away from its supply cut or shut down supplies on three of its big- Ukraine’s grain exports
contracts if the West went ahead with its gest westward gas pipelines while oil supplies
plans, Putin said. have been redirected eastwards. EU set to intervene to ease liquidity
strains in energy markets
“Will there be any political decisions ‘Frozen’
that contradict the contracts?Yes, we just Russian gas giant Gazprom on Friday said
won’t fulfil them.We will not supply any- the Nord Stream 1 pipeline, Europe’s major
thing at all if it contradicts our interests,” supply route, would remain shut as a turbine
Putin said. at a compressor station had an engine oil leak,

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(Sept 7): China’s export growth slowed more China’s At the same time, global demand for
than expected in August and imports stag- economy takes Chinese goods is waning as consumers
nated, a sign of a darkening global economic hit from global cut back spending because of soaring in-
picture and weak domestic growth hit by flation and shift away from pandemic-re-
Covid-19 lockdowns and a property slump. slowdown as lated goods toward services. Factories in
exports weaken Europe and the rest of Asia are also scaling
Exports in US dollar terms expanded back production.
7.1% last month from a year earlier, the Bloomberg
slowest pace since April when a lockdown in “The global economy is slowing down,
Shanghai disrupted shipping, and far weaker particular with the troubles of what’s hap-
than economists had predicted.Imports grew pening in Europe, so double-digit exports
just 0.3%, leaving a trade surplus of US$79.4 growth in the past is not sustainable,” said
billion (RM357.59 billion) last month. Zhang Zhiwei, chief economist at Pinpoint
Asset Management Ltd. Going forward,“sin-
China’s slowdown is rippling across the gle-digit export growth is more likely”,he said.
world, with the weak import figures spell-
ing bad news for major commodity pro- Zhang said to achieve faster economic
ducers such as Australia and Brazil. Top growth in the next 12 months, China’s
manufactured goods makers, like Germany domestic demand will need to play a big-
and South Korea, are also seeing weaker ger role. That would depend largely on
demand from China. whether the government relaxes its Covid
Zero policy, he said.

A silver lining for many countries is that
a double-digit decline in China’s imports
of energy products like natural gas, coal,
and oil products so far this year is helping
keep global energy prices in check, reduc-
ing inflationary pressure.
Read the full story
Read also:
China’s yuan extends losses, nears key
level despite firmer-than-expected fix
‘Winter is coming,’Taiwan warns as
exports slow to a crawl

(Sept 7): Oil benchmarks tumbled to their Oil market darkens want to place bets when the market trades
lowest in more than six months as demand as technical in huge ranges with limited liquidity.The
concerns emanating from China prompted breaches spur risk reward is just not there.”
a wave of selling that turned into a fren-
zy as prices breached technical warning a selling frenzy Traders said they are watching to see if
levels. Brent falls below US$89 and if that sup-
by Julia Fanzeres & Alex Longley port breaks down, view US$87.40 as the
West Texas Intermediate sank below Bloomberg next level to watch for.
US$85 for the first time since January
while Brent fell below US$90, the lowest Crude has made a soft start to Sep-
since February. A dollar gauge reached tember, extending a run of three month-
an all-time high on Wednesday, offering ly losses that’s the longest streak in more
a macro headwind at a time when the oil than two years.With central banks jacking
market is grappling with potential slowing up rates to quell inflation, investors are
demand in China. concerned economies may tip into reces-
sion. In China, virus curbs are damping
Traders lamented the market picture demand, with centers from Chengdu to
was darkening as oil formed what’s referred Shenzhen extending lockdowns or adopt-
to as a “death cross” — a bearish technical ing movement controls.
signal whereWTI’s 50-day moving average
falls below its 200-day MA- for the first Prices erased a one-day rally driven by
time since 2020. a decision from the Organization of Pe-
troleum Exporting Countries and its al-
“Elevated volatility is the story here,” lies on Monday to pare output. Reflecting
said Rebecca Babin, a senior energy trad- the market softness, Saudi Arabia reduced
er at CIBC Private Wealth Management. prices for customers in Asia and Europe
“There is no way to have conviction and for next month’s shipments.

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(Sept 7): The dollar is steamrolling cur- Fed effect stirs dition to heightened geopolitical tensions
rencies from Japan to South Africa and global FX moves which will be a source of volatility for fi-
the UK as bond market bets on higher- as mighty dollar nancial markets,”said Khoon Goh, head of
for-longer US rates gave fresh fuel to the Asia research at Australia & New Zealand
greenback’s rally, triggering a vocal push- runs rampant Banking Group Ltd.
back from officials in various countries.
by Garfield Reynolds The yen slumped past 144 per dollar
The yen dropped to a fresh 24-year Bloomberg on Wednesday, brushing off the strongest
low versus the greenback and speculation warnings to date from officials. Chief Cab-
is swirling about the prospects for direct cies are expected to grind lower” as the inet Secretary Hirokazu Matsuno told re-
intervention, while the euro and British world economy slows. porters he’s concerned about recent rapid,
pound have been battered amid Europe’s one-sided moves and Japan would need to
escalating energy crisis. South Korea’s The Fed’s extreme hawkishness sets up take necessary action if they continued.
won weakened to levels not seen since a stark policy divergence with the Asia’s
2009 and the rand was the next-worst two largest economies — China and Japan. China’s currency extended its own slide
emerging-market performer on the day. The People’s Bank of China is striving to even after the PBOC set its strongest fixing
China’s yuan, meanwhile, was within a slow the yuan’s slide even as it deploys an on record, weakening past 6.99 per dollar
whisker of cracking the psychological 7 array of stimulus measures to try and nurse as trade data came in softer than projected.
barrier. an ailing economy fighting the impact of The move signals policy makers’ intentions
Covid-zero lockdowns. InTokyo, the Bank to rein in the yuan that’s weakening toward
The moves pushed the Bank of Korea of Japan is doubling down on the world’s the key 7 per dollar level last touched on
to hold an emergency meeting and issue a most-dovish policy. June 2020.
statement saying it would take active steps
to stabilize the foreign-exchange market. In But the net result is pressure on their The Bank of Korea said recent won
Japan, it prompted the strongest warnings currencies, while peers around the region weakness has been “fast” compared to the
to date from senior government officials are not immune to the rampant greenback. country’s economic fundamentals and it
aimed at stemming the yen’s slide. will review the latest circumstances in fi-
Treasury yields surgedTuesday as data nancial and foreign-exchange markets.
A Bloomberg gauge of the greenback showing a surprising rebound in the ser-
climbed to a record high, helped by what vices sector reinforced expectations the The dollar’s dominance is doing plenty
has become the steepest-ever surge in real Fed will hike interest rates this month by of damage outside Asia too.The euro has
yields. The currency’s surge this year has three-quarters of a percentage point for a fallen below parity against the dollar for
been fueled in large part by a tightening third-straight meeting. Policy makers in the first time in 20 years, while the pound
of Federal Reserve policy and increasing- Europe and Canada are also expected to is close to touching levels last seen in 1985.
ly hawkish rhetoric of late has added fur- deliver their own outsized hikes this week. Read also:
ther fuel. Pound falls to weakest level since 1985
Almost every asset class is facing pres- against US dollar
Markets across the Asia-Pacific have sure, with global bonds entering their first Yen plunge worsens despite strongest
been in particular focus. The Philippine bear market in a generation and global government warnings yet
peso recently hit record lows, and curren- stocks down more than 20% so far this Asia stocks tumble to lowest since May
cies of South Korea, Singapore, Malaysia year. 2020 on strong dollar pain
and New Zealand touched levels that ha-
ven’t been seen in two years or more. “After a prolonged period of low inter-
est rates, the global economy now needs
“Financial stress from decreasing dollar to adjust to higher rates for longer, in ad-
supply will become even more pronounced
in weaker economies,” said Ayako Sera,
a market strategist at Sumitomo Mitsui
Trust Bank Ltd in Tokyo. “Asian curren-

(Sept 7): Global stocks are on pace for Goldman vious decades,” the strategists wrote in a
their worst run since the European debt strategists note. “We expect further weakness and
crisis a decade ago and Goldman Sachs warn stocks bumpy markets before a decisive trough
Group Inc strategists are among those yet to make is established.”
warning that more selling is possible. ‘decisive’ low
The MSCI All Country World In-
The MSCI All Country World Index by Richard Henderson dex has fallen 9% since mid-August
is falling for a ninth day on Wednesday Bloomberg and would reach the lowest levels since
(Sept 7), the longest losing stretch since the pandemic fallout of 2020 if its sinks
2011 — a period when the burden of through June’s nadir. A panoply of risks
public debt threw the euro-area’s viability spanning Federal Reserve monetary tight-
into question, rattling investors. ening to fight inflation, Europe’s energy
crisis and China’s economic slowdown
The slide in the gauge is rapidly eras- are all at play.
ing a bounce from mid-June that a Gold-
man team led by Peter Oppenheimer de- “The short term is bearish and in Sep-
scribed as a “bear market rally”. tember and October is when you usu-
ally get markets going down sharply,”
“Its duration and magnitude were not
unusual relative to the experience of pre- continues on Page 19

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(Sept 7): South Korea’s Samsung Elec- Samsung warns The US government is tightening flows of
tronics Co is warning that the semicon- chip industry is technologies to China, most recently restrict-
ductor industry could be in for a rocky headed for tough ing sales of artificial intelligence chips and
close to 2022. cutting-edge chip gear to Chinese customers.
close to 2022
A senior executive at the world’s largest It is also considering moves to restrict
maker of memory chips said the outlook by Sohee Kim US investment in Chinese tech companies,
for the second half of the year is gloomy, Bloomberg while at the same time offering billions of
and Samsung is not yet seeing momentum dollars in incentives to bolster semicon-
for a recovery next year. Rival chipmakers The general perception earlier ductor production on American soil.
such as SK Hynix Inc and Micron Tech- this year was that the second
nology Inc have cautioned about slowing half would be better than the Washington is demanding that any chip-
demand in recent weeks. first half, but from April to maker receiving a part of the federal grant
May, it changed drastically.” refrain from manufacturing advanced chips
“The general perception earlier this year in China for a period of 10 years.The Ko-
was that the second half would be better — Kyung Kyehyun, head of rean government is seeking to negotiate
than the first half, but from April to May, Samsung’s Device Solutions Division that with US officials.
it changed drastically,” said Kyung Kyeh-
yun, head of Samsung’s Device Solutions Besides a slumping chip market, Sam- As the US beefs up efforts to solidi-
Division, which oversees the company’s sung is also struggling with the clash be- fy a chip supply chain at home, Samsung
semiconductor operations. “The world is tween China and the US. While South announced plans for an advanced US$17
changing so quickly.” Korea has historically aligned withWash- billion chip plant in Taylor, Texas, with
ington, the tech giant counts on being construction slated to start later this year.
Kyung made the comments during a able to sell chips, smartphones and other
rare briefing at the company’s new chip products into the massive Chinese market. The new plant would lure new clients
fab in Pyeongtaek on Wednesday. Sam- Samsung has both customers and facto- with closer partnerships, Kyung said, add-
sung’s strategy is to respond faster to mar- ries in China. ing the company will continue to invest in
ket changes, rather than stick to an invest- the US. Samsung has also floated the idea
ment plan prepared in advance, Kyung said “It is difficult for us to miss such a mar- of a broad expansion of its semiconductor
during the event.That said, the company ket, and there are many important custom- manufacturing facilities inTexas, laying out
will do its best to keep capital expenditures ers,” said Kyung. “We’re trying to find a potential plans to spend almost US$200
steady, he added. win-win solution for everyone in the midst billion on 11 plants in a series of filings in
of this conflict.” the state in July.
Samsung historically has invested heavi-
ly in new chip initiatives, which now include Seoul is joining working-level talks with
the foundry business to better compete with US,Taiwan and Japan to explore ways to
Taiwan Semiconductor Manufacturing Co further corral China’s ambition become
for global customers. Samsung kicked off a world’s leader in chip technology and
mass production of 3-nanometer chips at lower its dependence on the West.
its foundry in June, edging out TSMC in
a race to build the most advanced chips in On Washington’s initiative, dubbed
the world. Samsung will work on improving the Chip 4 alliance, Kyung said he hoped
the performance and lowering the cost of South Korea will “seek understanding from
the chips, as it aims to create its next-gen- China first, and then negotiate with the
eration 3 nm chips in 2024, Kyung said. US.” But he also said, “In the long run,
it may be difficult to put new equipment
into our fabs in China.”

from Page 18 slid to levels last seen in 2020. all of these central bank moves so at what
The big question remains “inflation point can they pause, really sit back and
Chris Wood, global head of equity strat- see where inflation settles?”
egy for Jefferies LLC, said on Bloomberg and how the central banks have to react
Television. to this”, Joyce Chang, global head of re- Meanwhile, value stocks stand to con-
search at JPMorgan Chase & Co, said on tinue their outperformance over their
Some technical measures suggest a hi- BloombergTelevision.“We are front-loading growth equivalents amid weakening eco-
atus in the downward drop is possible.
In the past two decades, the nomic condition, Goldman
MSCI All Country World In- strategists led by Cormac Con-
dex has jumped an average of ners wrote in a separate note.
at least 1% over 10 and 20 days Goldman economists forecast
after nine-day losing streaks, a one in three probability of a
according to data compiled recession in the coming year and
by Bloomberg. “history shows value stocks out-
perform around the start of re-
For now, caution appears cessions”, the strategists wrote.
to be the watchword: dol- Read also: Europe’s largest
lar strength coursed through asset manager says it’s time to
global markets on Wednesday, cut equities
Treasury yields held a surge on
expectations of a pugnacious
Fed and an Asian share gauge

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Crypto market
drops below

US$1 tril, bitcoin
nears 2022 low

by Joanna Ossinger & Suvashree Ghosh
Bloomberg

SINGAPORE/MUMBAI (Sept 7): Bitcoin was hit in June in the wake of blow-ups at the ethereum network, which some ana-
is flirting with a test of this year’s lows fol- crypto lenders and hedge funds. lysts hope will draw investment flows into
lowing a cryptocurrency sell-off that again ether and other digital assets.
pushed the sector’s overall market value “The macro narrative is very hard to
below US$1 trillion (RM4.5 trillion). be able to let go and will drive risk as- “Bitcoin was at US$3,000 in the first
sets,” Kevin Loo, head of investment in- crypto winter and if you measure trough to
The largest digital token has shed more sights at IDEG Asset Management Ltd, trough, the trend is we are heading higher
than 6% so far this week and was trad- said on Bloomberg Television. “Bitcoin is in the longer term,” Loo said.
ing at about US$18,750 as of 7.02am in below US$20,000.We have been here be-
New York. Crypto market capitalisation fore and it’s likely that we could actually The MVIS CryptoCompare Digital
has fallen by a similar proportion in the go slightly lower.” Assets 100 index of the largest tokens is
past 24 hours, according to CoinGecko. down about 60% this year. Bitcoin has tum-
Ether erased Tuesday’s gains, dropping At the same time, there remains residual bled from a pandemic-era peak of almost
about 4.4%. optimism from the upcoming upgrade of US$69,000 in November last year.

Surging real interest rates — seen as the
true cost of borrowing — are heaping pres-
sure on a range of risk assets and crypto is
no exception.The retreat in bitcoin is taking
it closer to a nadir of about US$17,600 that

(Sept 7): Mitsubishi Motors Corp shares Hottest auto and Mazda”, saidTatsuoYoshida, a senior
have rallied 84% this year, outperforming stock in Asia analyst at Bloomberg Intelligence.
all Asian peers, spurred by a demand revival surges 84%
for small cars and pickups in Southeast Asia. thanks to focus Mitsubishi Motors, which is in an alliance
with Nissan Motor Co and Renault SA, gets
While Japanese car exporters have ben- on Asean about a quarter of its revenue from the Asean
efitted from the yen plunging to a 24-year region. Asean markets are seen by many as
low, Mitsubishi Motors has also been helped by Aya Wagatsuma bright spots in the receding global economy,
by a product mix suited to emerging mar- Bloomberg with tailwinds from commodities, tourism
kets in Asia, where pent-up demand is being and a high proportion of banks that are well
turned into purchases as economies reopen includeThailand, Indonesia,Vietnam and positioned for rising interest rates worldwide.
after the Covid-19 pandemic’s peak. the Philippines, making it “less vulnera-
ble to the US economy’s slowdown than Car buyers in the region are being lured
While half of this year’s 10 best-perform- for peers Toyota, Honda, Nissan, Subaru by prices that reflect the yen’s tumble to the
ers among Asian auto stocks are from Japan weakest in more than two decades, a byprod-
thanks to the weak yen, Mitsubishi Motors’ uct of the Bank of Japan having taken a di-
gains are more than double those of any com- verging monetary policy to its more hawkish
patriot. Shares in Mazda Motor Corp and peers in the US and elsewhere.
Subaru Corp have climbed more than 20%,
thoughToyota Motor Corp has dropped. Shares in Mitsubishi Motors rose as much
as 2.9% onWednesday (Sept 7) to the high-
The core markets for Mitsubishi Motors est level since May 2019.The stock was on
track for its eighth-straight day of gains, its
longest winning streak since 2014.

Read also:
Honda to set up China venture with
Dongfeng, Guangzhou Auto to procure
EV batteries

bloomberg Nissan to acquire automotive battery
firm Vehicle Energy Japan

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news In brief

Truss rules out funding UK energy support with windfall tax Ubisoft shares dive after Tencent
raised stake
LONDON (Sept 7): Prime Minister Liz Truss (pictured) said she would set out her PARIS/HONG KONG (Sept 7): Ubisoft
plan on Thursday to help UK households and business facing soaring energy bills, Entertainment SA shares sank 12% in
as she ruled out funding the support package with a windfall tax on companies. In Paris after Chinese gaming giant Tencent
her first Prime Minister’s Questions session in Parliament since formally taking Holdings Ltd raised its stake, which
analysts said could put a full takeover on
office on Tuesday, Truss underlined her tax-cutting ambitions and the back burner. Tencent will buy 49.9%
warned that Britain could not “tax our way to growth”. But she faced of the Guillemot Brothers Ltd holding
criticism from Keir Starmer, leader of the opposition Labour party, company, according to a statement late
who warned she had made a “political choice” in allowing energy on Tuesday. The Chinese tech giant will
firms to make excess profits while working people would “foot the pay €200 million (RM893.1 million) to buy
bill for decades”. The exchange was a glimpse into the likely battle an indirect stake in Ubisoft at an implied
lines between the parties over the winter, with Truss trying to value of €80 per share, and invest a further
bridge the gap to Labour in opinion polls. Starmer’s contention €100 million in the holding company. The
that support should be funded by energy firms’ excess profits transaction also authorises Tencent to
— which according to Treasury estimates may reach as much eventually raise its direct stake to 9.99%
as £170 billion (RM874.81 billion) over the next two years from 4.5% currently. The brothers will
— is popular with voters but anathema remain in control, and Tencent will not
to many Tories, who pride themselves as have any operational veto rights. The
being pro-business. — Bloomberg French video game publisher has been
deemed a takeover target as concerns over
bloomberg Read the full story delayed launches and allegations of sexual
misconduct pushed the stock down about
Repsol sells US$3.4 bil stake in shift bloomberg 45% since the start of last year. Its status
from fossil fuels as one of the few remaining independent
China builder Sunac gets wind-up video game publishers has also fuelled
MADRID (Sept 7): Spanish oil and gas petition as pressure mounts interest after Microsoft Corp agreed to buy
(O&G) giant Repsol SA is selling a quarter HONG KONG (Sept 7): Sunac China Activision Blizzard Inc. Tencent’s increased
of its exploration and production division Holdings Ltd has said it will take “every involvement will give the brothers, who
for US$3.4 billion (RM15.31 billion) to measure” to defend itself against a founded Ubisoft in 1986, some certainty in
a US private equity firm, in a dramatic winding-up petition in Hong Kong, the shareholder register while the recovery
downsizing of its exposure to fossil fuels. highlighting the turmoil at the property plan takes hold. — Bloomberg
The deal is Repsol’s second divestment developer as it crafts a debt-resolution
in recent months as the Madrid-based plan. A court hearing is scheduled Read the full story
oil producer raises funds to help pay for for Nov 16, according to a filing, with
low-emission projects while also reducing parties involved including the company Netflix told by Gulf states to drop
its cost of capital. Repsol was the first and Chen Huaijun. The petition is an videos violating Islam
large oil company to announce a strategic “aggressive” move by an individual ABU DHABI (Sept 7): Six Gulf Arab states
push into renewable power. Europe’s O&G creditor whose holdings account for an have told streaming service company
giants, flush with cash from soaring prices, “extremely small” share of the company’s Netflix Inc to stop broadcasting material
are considering whether to turbocharge debt, Sunac said in a statement, adding that they said violates the region’s Islamic
their transition to clean energy. The that the case will not have any material values, and threatened legal action if the
sale of assets by Repsol contrasts with impact on the firm’s operation or debt firm did not act. The countries said some
the approach of other oil majors, which restructuring work. The company Netflix content “contradicts Islamic and
are so far resisting pressure to sell off expects to publish its debt restructuring societal values and principles”, adding they
parts of their traditional businesses. The plan within this year, according to the had contacted the US-based company
proceeds from the stake sale will further statement. — Bloomberg to drop the offending material. They did
Repsol’s strategic aim of having low-carbon not specify which content had caused the
businesses account for 45% of capital issue. The move comes after a debate on
employed by 2030. — Bloomberg social media and television in the Gulf
about content for children which was said
bloomberg to promote homosexuality. “In the event
of continued broadcasting of infringing
content, the necessary legal measures will
be taken,” a statement from the six-nation
Gulf Cooperation Council (GCC) said on
Tuesday. — Bloomberg

Read the full story

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(Sept 7):With growing concerns over ris- Asia’s rich are sions on the global economy are the biggest
ing inflation and market volatility, Asia’s tilting towards concern for 77% of the people polled, Lom-
wealthy are turning cautious. private assets as bard Odier said. Half of them are worried
global risks grow about market volatility, which has pushed as
People with more than US$1 million of much as 56% of them to increase diversifi-
investable funds are repositioning toward by Yoojung Lee cation.The wealthy individuals in the survey
private markets to shield their assets from Bloomberg are also shunning crypto, with 83% of them
market volatility, Lombard Odier’s 2022 having no investment or less than 5% of their
study about high net-worth individuals in A slump in tech stocks and soaring infla- portfolio backing such assets.
Asia Pacific found. tion amid rising interest rates have shaved off
US$1.4 trillion from the cumulative wealth Low liquidity concerns, particularly
They’ve increasingly shunned stocks and of the world’s 500 richest people in the first among older generations, underscore the
bonds to focus on their own companies or half of 2022, according to the Bloomberg enthusiasm for private assets, the Swiss bank
assets deemed safer such as gold and cash.At Billionaires Index.That’s a reversal from the said.The region’s investors seem to believe
the same time, they’ve largely stayed clear of past two years, when central-bank largesse that those allow them to capture structural
crypto, which has proved particularly volatile. to combat the effects of Covid-19 helped changes in a regulated and risk-managed
boost assets and personal fortunes with them. way, it added. The rich in Singapore and
“APAC investors are becoming more Australia are leading the trend, with about
conservative in their portfolio construction The surge in inflation and its repercus- 60% of them planning to increase their al-
and are diverting to ‘safer’ alternative and locations to private markets.
private assets, whilst increasingly diversi-
fying beyond their local markets,”Vincent Lombard Odier,which oversees about 358
Magnenat, Lombard Odier’s Asia head, billion Swiss francs in client assets globally,
wrote in a statement. “Allocation to digi- surveyed more than 450 high-net-worth indi-
tal assets is extremely low,” he added at a viduals domiciled in Singapore, Hong Kong,
press briefing Wednesday (Sept 7). Japan,Thailand, the Philippines, Indonesia,
Taiwan and Australia between May and June.

“The concern of lack of visibility, vol-
atility and the willingness to manage it
are homogeneous across the markets and
across age brackets,” said Jean-Francois
Aboulker, the bank’s Asia head of ul-
tra-high net-worth individual offering.
Read also: Alibaba co-founder Joe Tsai’s
family office sells US stocks in private mar-
kets push

(Sept 7): Germany’s richest man wants to Germany’s Bloomberg
buy more Deutsche Lufthansa AG shares richest man
after investing a chunk of a fortune made looking to buy aviation operations. Lufthansa’s cargo
in logistics into Europe’s biggest airline. more Lufthansa division operates a fleet of large cargo
aircraft and also makes use of the bel-
Klaus-Michael Kuehne is looking at shares ly space in the passenger division’s jets.
expanding his 15.01% stake in Germa-
ny’s flag-carrier airline, according to a by William Wilkes French logistics giant CMA CGM
filing from Kuehne Holding AG lateTues- Bloomberg SA in May agreed to acquire a stake in
day.The logistics mogul earlier this year Air France-KLM, while container giant
overtook the German state as the biggest a Lufthansa stake, several major ship- MSC Mediterranean Shipping Company
shareholder in the carrier. ping companies are branching out into SA has made a joint bid with Lufthansa
commercial aviation, especially carriers to acquire Italia Trasporto Aereo, known
“Our interest in Lufthansa is unbro- with cargo operations like Lufthansa. And as ITA, the successor to failed carrier
ken,” the 85-year-old said in the state- logistics companies have enjoyed soaring Alitalia.
ment. “I recently had a constructive talk profits over recent years amid a freight
with the chairmen of the supervisory boom, leading several to reinvest those
board and the executive board.We there- earnings into airlines.
fore intend to acquire further Lufthansa
shares when the opportunity arises.” Kuehne’s holding company also owns
a 30% stake in German shipping firm
Kuehne, who also expressed interest Hapag-Lloyd AG, a company that until
in taking a board seat at Lufthansa, is now hasn’t made an attempt to acquire
worth US$31.3 billion, according to the
Bloomberg Billionaires Index. He is hon-
orary chairman and majority owner of
Kuehne + Nagel, the world’s largest sea-
freight forwarder.

While the magnate hasn’t commented
publicly on his overall vision for building

t h u r s d a y S E P T E M B E R 8 , 2 0 2 2 23 T h e E d g e C E O m o r n i n g b r i e f

world

China’s EV start-ups put a dent in
legacy automaker market share

by Colin McKerracher
Bloomberg

OSLO (Sept 7): For many years, China’s electric with legacy businesses have done.They have no The group getting squeezed by all this is
vehicle (EV) market was primarily driven by poli- legacy business to protect, know subsidies will established global automakers, many of which
cy.The combination of fuel economy regulations, not last forever, and that their products need to deliberately slow-rolled their EV programmes
a new-energy vehicle quota system, government stand on their own feet quickly. and are now scrambling to catch up with respect
fleet mandates, and direct purchase subsidies to their model line-ups and battery supply. As
all added regulatory pressure and incentives for China’s EV start-ups also have made a com- recently as 2020, international automakers had
both automakers and consumers to go electric. bined push on digital services,in-car connectivity, 61% of the total auto market in China. That
and customer-service experience concurrently has declined to 49% so far in 2022. Setbacks
The policies still matter, but recent Bloomb- with their electrification efforts, which has helped on software and disputes with local partners
ergNEF analysis shows EV adoption is now shift the perception of EVs from one of compli- are not helping, and with China’s EV sales ris-
running well ahead of what is required purely ance and regulation to one where you access the ing fast, it is getting harder to see this market
from national regulations and policy targets. coolest tech, and get treated well in the process. share trend reversing.
City-level policies are still playing an impor-
tant role because they make it difficult to get They are not alone, of course. Other dy- While Western automakers are seeing their
a new licence plate for internal combustion namic auto companies are pursuing a simi- share of the Chinese market shrink, China’s EV
vehicles in China’s major cities, but even that lar strategy, and the start-ups’ share of sales start-ups are quickly expanding in Europe. MG
is not enough to explain why adoption is ris- is still relatively small compared to the likes Motor, owned by SAIC, sold 40,000 EVs in
ing so quickly. of Tesla and BYD, which sold 255,000 and Europe last year, while groups like Nio, Xpeng,
354,000 plug-in vehicles globally last quarter, BYD,and others have been testing the waters with
There are many factors at play when a con- respectively. But the start-up numbers are still smaller numbers in countries such as Norway.
sumer technology starts to take off.Technology significant.They are ramping up quickly and
maturity, cost competitiveness, and word of will probably top 250,000 a quarter next year. All of China’s start-up automakers plan to sig-
mouth all play a role. In China’s EV market, nificantly increase their international presence in
there is another factor at play, namely that the next few years and some of them are launch-
home-grown EV start-ups have helped trans- ing very cost-competitive EV models to further
form perceptions of the vehicles there. that goal.There is a window open for them in
Europe right now, because the region’s vehicle
There was talk a few years ago about how CO2 regulations do not tighten again until 2025.
many of these start-ups risked being wiped out Many established automakers have slowed down
by stricter technology standards. Lo and behold, their EV roll-out accordingly.WithTesla, BYD,
some not only survived but are growing sales and these EV start-ups all at the gate, this may
quite quickly. Xpeng, Hozon New Energy Au- not be a wise strategy.
tomobile, Li Auto, Nio, Leap Motor, and WM
Motor are now selling almost 150,000 EVs a There are probably still some bumps in the
quarter, about 7% of the global total and up road ahead. Making cars is still difficult. But it is
more than 10-fold from the beginning of 2020. remarkable how fast perceptions of what is possi-
ble can shift. In 2019, China proposed what was
These start-ups are less likely to be designing then widely viewed as a stretch target of having
vehicles strictly to comply with regulations, as new-energy vehicles represent 25% of passenger
someWestern,Japanese,and Chinese automakers vehicle sales by 2025.That number now looks
like it will be achieved this year, a full three years
ahead of schedule. China’s EV start-ups have
played an important role in making that happen.

t h u r s d a y S E P T E M B E R 8 , 2 0 2 2 24 T h e E d g e C E O m o r n i n g b r i e f

MARKETS

CPO RM 3,690.00-107.00 OIL US$ 93.060.23 RM/USD 4.5030 RM/SGD 3.1983 RM/AUD 3.0321 RM/GBP 5.174 RM/EUR 4.4627

Top 20 active stocks

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

Metronic Global Bhd 318.20 -0.015 0.060 -50.85 91.9

Sapura Energy Bhd 52.80 -0.010 0.040 -20.00 639.2

My EG Services Bhd 52.40 0.020 0.855 -20.09 6,310.3

Cengild Medical Bhd 45.80 0.035 0.545 0.00 446.2

Umedic Group Bhd 44.20 0.040 0.760 0.00 284.2

Top Glove Corp Bhd 42.30 0.005 0.805 -68.92 6,445.9

South Malaysia Industries 40.60 0.010 0.190 -5.00 39.9

SNS Network Technology Bhd 35.80 -0.010 0.260 0.00 419.3

Ta Win Holdings BHD 34.40 -0.005 0.065 -48.00 222.6 World equity indices

Sanichi Technology Bhd 33.30 0.000 0.025 0.00 35.1

Destini Bhd 28.60 -0.015 0.065 -63.89 108.1 CLOSE CHANGE CHANGE CLOSE CHANGE CHANGE

Cnergenz Bhd 25.30 -0.025 0.885 0.00 440.7 (%) (%)
DOW JONES 31,145.30 -173.14 -0.55 INDONESIA 7,186.76 -46.40 -0.64
Hartalega Holdings Bhd 24.70 0.070 1.650 -71.20 5638.8

Sedania Innovator Bhd 24.10 0.040 0.340 -33.98 118.1 S&P 500 3,908.19 -16.07 -0.41 JAPAN 27,430.30 -196.21 -0.71

AGMO HOLDINGS BHD 23.50 -0.010 0.920 0.00 299.0 NASDAQ 100 12,011.31 -87.13 -0.72 KOREA 2,376.46 -33.56 -1.39

Green Packet Bhd 22.70 -0.005 0.045 -43.75 71.8 FTSE 100 7,270.49 -29.95 -0.41 PHILIPPINES 6,554.08 -155.52 -2.32

Cypark Resources Bhd 22.70 -0.030 0.325 -64.29 191.4 AUSTRALIA 6,729.34 -97.20 -1.42 SINGAPORE 3,210.83 -13.35 -0.41

Hibiscus Petroleum Bhd 21.90 -0.040 1.000 22.7 2012.4 CHINA 3,246.29 2.85 0.09 TAIWAN 14,410.05 -267.15 -1.82

Vortex Consolidated Bhd 21.90 -0.010 0.155 138.46 170.8 HONG KONG 19,044.30 -158.43 -0.83 THAILAND 1,639.92 6.05 0.37

Dagang NeXchange Bhd 20.50 0.000 0.825 8.55 2,604.0 INDIA 59,028.91 -168.08 -0.28 VIETNAM 1,243.17 -34.23 -2.68

Data as compiled on Sep 7, 2022 Source: Bloomberg Data as compiled on Sep 7, 2022 Source: Bloomberg

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

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

AT Systematization Bhd 0.015 50.00 1,884.1 -50.00 90.0 Vsolar Group Bhd 0.005 -50.00 634.3 -66.67 24.2

Anzo Holdings Bhd 0.015 50.00 164.2 -50.00 16.7 Green Ocean Corp Bhd 0.010 -33.33 1,210.0 -66.67 21.1

ZEN Tech International Bhd 0.025 25.00 867.3 -78.26 20.2 Mlabs Systems Bhd 0.015 -25.00 272.0 -50.00 21.7

HB Global Ltd 0.135 22.73 17,347.9 -32.50 104.0 Pasukhas Group Bhd 0.015 -25.00 1,274.0 -40.00 28.6

XOX Networks Bhd 0.030 20.00 6.2 0.00 34.1 Dolomite Corp Bhd 0.015 -25.00 40.0 -50.00 8.9

G3 Global Bhd 0.030 20.00 2,450.0 -62.50 87.1 Scomi Energy Services Bhd 0.015 -25.00 220.2 -72.73 7.0

Komarkcorp Bhd 0.060 20.00 109.6 -47.83 34.6 Sapura Energy Bhd 0.040 -20.00 52,844.4 -20.00 639.2

Sinaran Advance Group Bhd 0.065 18.18 40.0 8.33 59.5 Metronic Global Bhd 0.060 -20.00 318,175.2 -50.85 91.9

Golden Land Bhd 0.400 15.94 2.2 -3.61 85.8 TAS Offshore Bhd 0.185 -19.57 23.0 -27.45 32.3

CAM Resources BHD 0.330 15.79 1,023.8 -1.49 63.2 Destini Bhd 0.065 -18.75 28,611.5 -63.89 108.1

BTM Resources BHD 0.120 14.29 388.0 -27.27 20.5 Barakah Offshore Petroleum 0.025 -16.67 1,050.1 -68.75 25.1

Bina Puri Holdings BHD 0.040 14.29 1,069.7 -11.11 63.9 MQ Technology Bhd 0.030 -14.29 13,178.8 -40.00 37.5

CME Group BHD 0.040 14.29 5.0 -33.33 39.7 Serba Dinamik Holdings Bhd 0.030 -14.29 4,384.2 -91.43 111.3

Sedania Innovator Bhd 0.340 13.33 24,086.4 -33.98 118.1 Top Builders Capital Bhd 0.030 -14.29 1,156.8 -14.29 21.2

Saudee Group Bhd 0.045 12.50 519.9 -18.18 44.6 Reach Energy Bhd 0.035 -12.50 2,238.5 -41.67 38.4

Lambo Group BHD 0.045 12.50 419.4 -47.06 69.3 Ea Technique M Bhd 0.035 -12.50 120.0 -56.25 18.6

Securemetric Bhd 0.095 11.76 608.1 -13.64 54.8 Key Asic Bhd 0.035 -12.50 92.1 -50.00 47.7

Permaju Industries Bhd 0.050 11.11 311.1 -16.67 96.7 Eksons Corp BHD 0.550 -11.29 12.0 -15.38 87.9

Ivory Properties Group Bhd 0.100 11.11 5,787.5 -20.00 49 Euro Holdings Bhd 0.090 -10.00 4868.80 -81.44 79.4

Minetech Resources Bhd 0.050 11.11 169.1 -50.00 59.4 Green Packet Bhd 0.045 -10.00 22703.1 -43.75 71.8

Data as compiled on Sep 7, 2022 Source: Bloomberg Data as compiled on Sep 7, 2022 Source: Bloomberg

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

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

Petronas Dagangan Bhd 21.520 0.620 136.9 4.47 21,379.1 Malaysian Pacific Industries 29.160 -0.340 285.3 -40.92 5,799.8

Petronas Chemicals Group Bhd 9.000 0.260 12,264.7 0.90 72,000.0 Hengyuan Refining Co Bhd 4.590 -0.270 3,291.0 18.60 1,377.0

Fraser & Neave Holdings Bhd 22.000 0.220 2.3 -11.08 8,069.1 Petron Malaysia Refining 4.780 -0.160 515.2 9.13 1,290.6

Press Metal Aluminium 4.990 0.190 9,300.8 -13.67 41,115.7 Perusahaan Sadur Timah 4.660 -0.130 44.7 18.27 601.6

Tenaga Nasional Bhd 8.750 0.180 2,947.9 -6.32 50,339.4 Carlsberg Brewery Malaysia 22.900 -0.120 13.2 14.04 7,001.6

AEON Credit Service M Bhd 14.160 0.160 2.3 4.34 3,615.2 Kotra Industries Bhd 4.100 -0.110 4.2 29.75 606.7

PPB Group Bhd 16.940 0.140 533.8 -0.94 24,098.8 Heineken Malaysia Bhd 23.820 -0.100 32.7 14.30 7,196.0

Yinson Holdings BHD 2.270 0.130 4,685.0 -12.95 6,595.2 Nestle Malaysia Bhd 133.000 -0.100 32.5 -0.89 31,188.5

Harrisons Holdings Malaysia 6.130 0.130 26.1 27.71 419.8 Apex Healthcare Bhd 3.200 -0.100 83.6 21.43 1,528.1

Ajinomoto Malaysia Bhd 11.900 0.120 13.6 -22.73 723.5 Allianz Malaysia Bhd 13.040 -0.100 40.2 1.40 2,320.6

Power Root Bhd 2.120 0.120 3,087.5 59.88 881.9 PMB Technology Bhd 3.900 -0.090 2,795.8 58.79 4,880.9

Yoong Onn Corp BHD 1.320 0.120 259.1 26.92 209.4 DRB-Hicom Bhd 1.550 -0.090 2,928.7 8.39 2,996.5

Alliance Bank Malaysia Bhd 3.720 0.090 2,525.6 30.07 5,759.0 Westports Holdings Bhd 3.380 -0.070 2,910.2 -16.54 11,525.8

Kesm Industries Bhd 7.100 0.090 0.5 -42.18 305.4 Eksons Corp BHD 0.550 -0.070 12.0 -15.38 87.9

Ta Ann Holdings Bhd 4.220 0.090 1,087.5 20.23 1,858.7 CIMB Group Holdings Bhd 5.400 -0.060 8,491.4 -0.92 56,561.0

BP Plastics Holding Bhd 1.450 0.080 513.4 -5.84 408.1 DiGi.Com Bhd 3.530 -0.060 894.3 -19.04 27,445.8

Malaysia Airports Holdings 5.980 0.080 1,610.6 0.00 9922 Gamuda Bhd 3.950 -0.060 8632.7 36.21 10234.7

HAP Seng Consolidated Bhd 7.040 0.080 98.2 -8.57 17527.3 DKSH Holdings Malaysia Bhd 4.360 -0.060 5.9 -9.17 687.4

Thong Guan Industries Bhd 2.630 0.080 673.3 -6.07 1014.4 SHH Resources Holdings BHD 0.595 -0.055 10.0 29.35 59.5

Master-Pack Group BHD 1.990 0.080 644.1 19.16 108.7 Dayang Enterprise Holdings 1.090 -0.050 4874.1 35.4 1262

Data as compiled on Sep 7, 2022 Source: Bloomberg Data as compiled on Sep 7, 2022 Source: Bloomberg

TELLING IT AS IT IS INSIDE

page

2‘Work together to create

peaceful multipolar world’

page

3Govt keen to resolve
child citizenship issue

ON THURSDAY SEPTEMBER 8, 2022

No. 8104 PP 2644/12/2012 (031195) www.thesundaily.my

FRESH FLAVOURS ... A trader showing spices

and herbs at his booth as part of the Malaysia International
Halal Showcase event being held at the Malaysia
International Trade and Exhibition Centre in Kuala Lumpur
from yesterday to Saturday. – AMIRUL SYAFIQ/THESUN

War-mongers?
█ BY RAJVINDER SINGH o‘US and allies prefer wars
[email protected] elsewhere, not at their doorstep like
the Russia-Ukraine situation’
PETALING JAYA: Should major
powers declare war or impose He said the West is accusing Russia of Emir Research head of social,
sanctions on countries that do human rights violations in Ukraine but law and human rights Jason S.W.
not see eye to eye with them? similar human rights violations also Loh said the US is the leading
This question has been top of mind for occurred in Afghanistan and Iraq, country that is “addicted” to war,
Asean nations after the recent US involving the US, UK and Australia, with its unchallenged record as a
“provocation” of China through its adding that it was hypocritical that no war-mongering nation.
officials’ visits to Taiwan, starting with US action was taken against the violators. “The European Union (EU) is not a
House of Representatives Speaker Nancy war-monger like it (US) but is
Pelosi. “It is very difficult for Western powers expansionist, as can be seen in its
to accuse Russia of declaring war drive towards Ukraine.
On his Facebook page on Sept 2, because what it did to Ukraine is what He said Ukraine has traditionally
former prime minister Tun Dr Mahathir they have done to nations such as Libya, been part of Russia’s sphere of
Mohamad said for thousands of years, Syria and Afghanistan. They don’t have influence but the concept is different
there was never a year when there was no the moral standing for it.” from the EU and involves no surrender
war between European nations as they of national sovereignty on the part of
provoked countries, glorified wars and He added that as Russian President Ukraine, which still has the freedom to
celebrated killings. (See page 3 for an Vladimir Putin has made clear, he should maintain neutrality, especially on the
excerpt of Mahathir’s Facebook post). not be blamed for the high cost of living issue of the North Atlantic Treaty
many nations are currently facing. Organisation (Nato) membership,
Commenting on this, Nusantara adding that seen in this light, Ukraine
Academy for Strategic Research senior Azmi said maybe Russia could be needs only to play the role of a “buffer”.
fellow Prof Dr Azmi Hassan said the US blamed for the high natural gas prices in “Provocations by US and Nato have
and its allies do not mind if a war Europe because there is a direct led to Russia having very little
happens elsewhere, like in a Third World relationship between that and the war, choice but to pre-empt the
country, and does not involve them but the high price of other goods is not presence of nuclear weapons Turn to
directly. But the current war in Ukraine is about the Ukraine conflict but the and other strategic and heavy
different because it is at their doorstep. Covid-19 post-pandemic effects and weaponry like missile —
climate change. He also said these issues
He said Pelosi’s Taiwan visit and the have been downplayed and the Ukraine page 3
immediate sales of arms to that country war and Putin have been blamed for the
were designed purely to provoke China. high price of goods. systems being pointed at it.”

“Washington (DC) was aware that
Beijing would react to such provocation.
The US is trying to show it can face
China, while the arms sales benefit the
US defence industry.”

2 theSUN ON THURSDAY | SEPTEMBER 8, 2022
NEWS WITHOUT BORDERS

Ministry to ‘Work together for peaceful
resolve under- multipolar world’
enrolment
issue at public PUTRAJAYA: Malaysia believes that o PM expresses Malaysia’s stand for more He added that an overall
schools every nation-state should be brave prosperous, sustainable and just future at perspective on the various types of
in creating a peaceful and international economic forum global security threats needs to be
PUTRAJAYA: A total of 3,017 primary harmonious multipolar world that taken into account so that a
schools in the country are categorised as respects international diplomacy. comprehensive solution can be
“under-enrolled”, with less than 150 formulated and achieved together.
pupils each currently, said Deputy In expressing Malaysia’s stand at “Perceived imbalances,
Education Minister Datuk Dr Mah Hang the 7th Eastern Economic Forum whether in terms of political and
Soon. (EEF), with the theme “On the Path and to expand international becoming additional growth economic power or the level of
to a Multipolar World”, Prime cooperation in the Asia-Pacific catalysts, while others are striving development between countries
This involves 2,034 national schools Minister Datuk Seri Ismail Sabri region. to achieve their potential in this and different regions, need to be
(SK), 616 vernacular Chinese schools Yaakob said the world today is new system. acknowledged and dealt with
(SJKC) and 367 vernacular Tamil schools moving towards multipolarity, that Ismail Sabri said Malaysia holds prudently, especially by the
(SJKT). There is a total of 5,877 national brings with it not only threats, but strong to the principle of Asean By 2040, Asian countries are world’s superpowers as the
schools, 1,302 SJKC and 527 SJKT. opportunities that should be Centrality, and also other basic expected to dominate half of the leading political and economic
optimised by all. principles on cooperation, respect world’s gross domestic product and players at the international level.”
“The issue of under-enrolment is for a nation’s sovereignty and 40% of global consumption, with Ismail Sabri also said countries
serious and needs a quick solution by He said all countries need to assisting member countries to the majority of them being that still believe in hegemony
identifying the root cause of the accept and adapt to the new achieve peace and regional Southeast Asian countries. would only create conflict, tension
problem. Some of the factors could be distribution of power, in crafting a prosperity. and instability in political and
socioeconomic change, demography, more prosperous, sustainable and “Almost 60% of trade in Asia is social aspects.
the passage of time and so on,” he told just future, Bernama reported. He added that as an Asean among Asian countries. This clearly “Any solution being sought
reporters after chairing the SKM SJKC founding country, Malaysia will proves that Asia is able to influence should not only benefit one party
Working Committee Meeting here Ismail Sabri added that from continue to play a vital role in the trend of world trade by taking a but involve all,” he said, adding
yesterday. Malaysia’s perspective, no country building the Asean community and regional approach,” he said. that political and economic
can exist on its own. regional integration. stability at the international level is
Mah said the newly formed The prime minister also drove crucial for the world to move
committee will focus on the issue at “Therefore, Malaysia adopts a “It is Malaysia’s hope that all home the point that the world is forward.
SJKC. In future, its scope will be friendly and open approach in Asean dialogue partners give their facing various challenges, from Ismail Sabri added that
extended to national schools and SJKT if fostering ties with any country,” he attention and respect these economic uncertainty, public Malaysia will remain committed
the results of the study can be applied in said during an online EEF plenary principles.” health and geopolitics to climate to moving forward together
both streams. session. change. with other countries in finding
Elaborating on the economic the best method to deal with
“Three sub-committees will be The 7th edition of the EEF is aspect of a multipolar world, Ismail Ismail Sabri said these threats current challenges in a more
formed which, among other things, will being held in Vladivostok, Russia Sabri said there are a number of have an unforeseen impact on the meaningful way.
be responsible for interacting and from Sept 5 to Sept 8. developing countries emerging as world, and expressed the need for
collecting information from the schools’ new economic powerhouses. the international community to pay
board of governors. According to the EEF official attention to non-traditional security
website, EEF was established in He noted that there are several issues, particularly food security.
He added that they will also be 2015 to support the economic countries moving towards
responsible for providing reading development of Russia’s Far East
materials and programmes to improve
the quality of teaching and learning, and Ismail Sabri gives assurance on press freedom KUALA LUMPUR: Prime Minister Datuk Seri
conducting a comprehensive study to Ismail Sabri Yaakob yesterday assured media
identify the problems causing the Ismail Sabri being interviewed by Molek FM radio presenters Mat Dan (left) and Mek Zura at Sri Pentas practitioners in the country that they are free
situation of under-enrolment at Media Prima in Kuala Lumpur yesterday. – BERNAMAPIX to report any news, but the reports should be
SJKC. based on accurate and authentic information.

Mah did not discount the possibility He said he believed the media
that the study will also look into the practitioners, as disseminators of information,
aspect of merging the under-enrolled are aware of their limitations and
SJKC. responsibilities.

“That was one of the things we “The media must be responsible, which is,
discussed earlier. We have to take into to tell the truth, to provide true information. If
account the feelings of the community the information is true, there will be no
towards the merger issue and look at it objections and constraints from the
comprehensively,” he said, adding that government on how the news is delivered,” he
the committee will convene after three told reporters during a visit to Media Prima in
months to present the results of the Sri Pentas here yesterday. Earlier, he was
study. – Bernama interviewed by Hot FM, 8 FM, and Molek FM
radio channels.
‘Tourist visa
holders can Ismail Sabri said the government’s
perform umrah’ guarantee of press freedom is reflected in its
actions.
RIYADH: Saudi Arabia’s Hajj and
Umrah Ministry reiterated yesterday “If they go beyond what is allowed, the
that Muslim tourist visa holders can government will definitely reprimand them,
perform their umrah while travelling in (but) so far, no media (organisation) has been
the country as long as it is not during closed down or had its licence revoked. This
the haj season. means there is freedom of the press,” he added.

This is in line with the amendment Describing the role of mainstream media as
to the visa rules by the Saudi Arabia important in disseminating accurate
Tourism Ministry a week ago which, information, the prime minister advised the
among others, stated that holders of public not to rely only on social media for
tourist visas are not allowed to perform information.
the umrah during the haj period.
“As we know, inaccurate and distorted
Using infographics about the information is being disseminated, causing
procedures for pilgrims on its Twitter people to be confused. That is why it is
handle, the Hajj and Umrah Ministry important for the mainstream media, such as
explained that the authorities can issue the print media, to provide accurate
umrah and visitor permits for people information, not misleading ones.”
from 49 countries that are eligible to – Bernama
obtain an electronic visa (e-visa)
through the “Visit Saudi Arabia” online Malaysia displays its best at embassy festival
portal or upon arrival at the Saudi
airport. KUALA LUMPUR: The Malaysian attracted the participation of 55 which were flown from Malaysia. “Overall, our participation in the
Embassy in The Hague showcased embassies and more than 50,000 Malaysian ambassador to the festival achieved its aim to
Malaysia is one of the seven the best of Malaysia’s multiculture, visitors. promote Malaysia to the local and
countries eligible for the Saudi e-visa traditional food and games at the Netherlands Datuk Nadzirah international communities.
apart from Brunei, China (including 9th Embassy Festival, held in According to a statement from Osman said she was surprised by
Hong Kong and Macau), Japan, The Hague, Netherlands last the Malaysian Embassy, among the the overwhelming number of “I believe our participation is
Kazakhstan, Singapore and South Saturday. dishes promoted included nasi visitors to the Malaysian pavilion, another catalyst in promoting
Korea. – Bernama lemak and snacks like karipap and and the interest shown for Malaysia to the Dutch community
The annual festival, which roti jala, as well as selected tropical Malaysian food and the tropical and also the international
returned after a two-year hiatus fruits such as durian musang king, fruits by the Dutch visitors and the community residing in the
following the Covid-19 pandemic, mangosteen and dragon fruit, international community. Netherlands,” she said. – Bernama

3theSUN ON THURSDAY | SEPTEMBER 8, 2022
NEWS WITHOUT BORDERS

Govt keen to resolve Conflict by
child citizenship issue choice, design

KUALA LUMPUR: In his Facebook page on
Sept 2, former prime minister Tun Dr
Mahathir Mohamad expressed the belief that
European nations were addicted to war and
killing people.
o Committee to be formed on rights of mothers committee,” he said, adding that UN experts He said for thousands of years, there was
concerning children born abroad with foreign spouse could always comment on the issue, “but it is never a year when there was no war between
a long and hard process to overcome the European nations, adding that they glorify
matter”. wars, celebrate killings and make heroes of the
killers, decorating them, erecting statues and
On Tuesday, All Women’s Action Society designing elaborate ceremonies
█ BY MUHAMMAD YUSRY without discrimination based on sex. information and communications officer commemorating them.
[email protected] They also said such affected women were Jernell C.E. Tan said the inability of women to Mahathir said during World War II,
PETALING JAYA: A committee will be formed automatically accord nationality to their Western nations accepted Russia as an ally.
and led by Defence Minister Datuk Seri less likely to leave abusive relationships and children is an expression of a state’s position Millions of Russians were killed and millions
Hishammuddin Hussein, who is also head of that their children risk being stateless. that the father plays a more significant role in more wounded while whole towns were
the Security Cluster, to address and overcome his child’s legal identity. devastated.
problems faced by women in according Wan Junaidi said the government had With the Russians pushing from the East,
citizenship to their children born overseas wanted to form a committee after a High She said this perpetuates the patriarchal and Western European countries together
with a foreign spouse. Court decision on the issue and had asked the idea of women’s inferiority and discounts with America attacking from the West, they
Conference of Rulers to allow an interim to women’s responsibility and role as a parent. defeated Germany.
Minister in the Prime Minister’s facilitate a thorough study of the matter. Immediately after, the Western allies
Department (Parliament and Law) Datuk Seri Family Frontiers executive council identified their partner, Russia, as the new
Dr Wan Junaidi Tuanku Jaafar said the “After the Court of Appeal makes a member Chee Yoke Ling said the UN was enemy. They set up Nato and the Russians
decision on forming the committee was made decision, the committee will have no mandate correct to say that Malaysia has not fulfilled its responded by setting up the Warsaw Pact. A
at a Cabinet meeting yesterday. whatsoever to (review) the matter. The issue obligations under two UN human rights cold war ensued for decades.
of citizenship must be referred to the treaties that were merged in 1995. Finally, the Russians gave up. They
On Wednesday, theSun reported that Conference of Rulers because our dismantled the Warsaw Pact and freed the
NGOs were calling for speedy constitutional Constitution does not approve of dual “In September 2001, Parliament countries involved. As more of the former
amendments to give women the same rights citizenship. That is why we asked for a stay of unanimously supported the amendment of Warsaw Pact members joined the European
as men on the matter. execution. Article 8(2) of the Federal Constitution to Union and Nato, Russia found new enemies at
include the word ‘gender’ so that there would its western border.
The issue had even caught the attention of “We had a Cabinet meeting, where we be no discrimination against Malaysians Mahathir said military drills were
the United Nations (UN) Working Group on decided to form a committee to address and based on religion, race, descent, place of birth conducted involving the countries at Russia’s
Discrimination Against Women and Girls. overcome the issue. This committee will be or gender in any law. western border.
led by Hishammuddin and (involve) my office “Ukraine was to join Nato, knowing full
UN experts had stressed that the decision and also the Home Affairs Ministry under “Unfortunately, every successive well that Russia would feel threatened
contravenes Malaysia’s obligations under Datuk Seri Hamzah Zainudin.” government has failed to remove the because Ukraine is a next-door neighbour.
international law and there was a need to discrimination in Article 14(1)(b), that “The Western countries did not really want
interpret all constitutional provisions Wan Junaidi said Hishammuddin will recognises the right of fathers to automatically
concerning citizenship, and its transference, receive instructions from the Cabinet to (accord) Malaysian citizenship to their
address the citizenship issue. children wherever they are born, regardless of
the mother’s citizenship.”
“I believe he is the right man to lead the

Ukraine to join Nato. There was a danger that
Russia would attack Ukraine. Nato countries
had agreed that an attack on one of its
members would be an attack against Nato.
This means Nato would go to war if Ukraine
became a member and was attacked,” he said.
“The Western allies did not want a
European war. But they seem to want a limited
war to test Russia’s strength. Maybe to weaken
it. So, Nato countries did not admit Ukraine as
a member, but they continued to provoke
Russia by making it known that they would
eventually accept Ukraine.”
Mahathir added that the provocation
worked and Russia attacked Ukraine. The
appeal by (Ukraine President Volodymyr)
LUMINARY Zelenskyy for Nato to join in the defence of his
WONDERLAND country was ignored, but Nato rendered
... Visitors taking financial support and supplies.
photos amid the “So, Ukraine was left to defend itself.
colourfully lighted Millions migrated, thousands of civilians and
surroundings of soldiers were killed and the country was
the ‘Secret Garden’ devastated. Not a single Nato soldier died, nor
attraction at are the Nato countries harmed. It is the best of
Taman Putra European strategies – fighting what amounts
Perdana in to a proxy war. In the meantime, provocation
Putrajaya. shifted to the Far East.”
– ADIB RAWI
YAHYA/THESUN ‘Sanctions hurt West
more than Russia’

However, Loh said the US sale of arms to
Taiwan under the Taiwan Relations Act (1979)
was not meant as provocation but a
response to the threat of
First knowledge hub in Malaysia invasion by China’s People’s
Liberation Army. But such From
KUALA LUMPUR: The public can now gain Learning and Human Resources Committee obtained is structured and authentic,” UTP action hits closer to home and
access to a collection of more than 12 million chairman Ahmad Saidi Mohamad Daud said in a statement yesterday. has the possibility of front
scientific and non-scientific material for free recently. page
via the “Knowledge Hub” (K-Hub) introduced “This is one of UTP’s efforts through the
by Universiti Teknologi Petronas (UTP). K-Hub contains a collection of material university’s Information Resource Centre to destabilising the Asean region.
such as articles, journals, books, theses, expert share the latest smart and sustainable “The US and Nato practise
The varsity said K-Hub, which is the first in profiles and image archives. information with people around the world, in double standards and are misguided by their
the country, plays the role of a one-stop centre line with the requirements of today’s digital false notion of moral superiority. The West’s
and was launched by Perak Education, Higher “To gain access to K-Hub, one can visit environment.” – Bernama hypocrisy is due to their ideological
khub.utp.edu.my. Each information search triumphalism, which labours under the
deluded notion that history is on their side.”
He said the selective trade sanctions hurt the
West more than Russia. A good example is the
Self-employed Socso membership low in Johor EU’s time-limited sanctions on Russian crude
oil imports and refined petroleum products,
which have seen soaring energy costs that are
JOHOR BARU: Only 13% of 267,500 self- “This year, we are targeting 10% more in amounting to RM210,201 under the scheme. hurting households and businesses.
employed individuals in Johor have registered Johor comprising 31,000 self-employed. As of Tong also said information would continue Loh pointed out that even the UK is not
with the Social Security Organisation (Socso) August, 18,788 self-employed individuals spared since its main imported energy pipeline
for its Self-Employed Social Security Scheme. have registered,” he said yesterday. to be provided to ensure individuals working is connected to continental Europe’s Nord
as food delivery riders, who are exposed to Stream 1, which has now been shut down
Johor Socso director Tong Sing Chuang He added that as of last month, there were higher risks, obtain social security protection. indefinitely.
said the 13% comprised 34,806 individuals. 158 cases involving payment of benefits – Bernama

4 theSUN ON THURSDAY | SEPTEMBER 8, 2022
NEWS WITHOUT BORDERS *

Mask-wearing
now optional
indoors

o But still compulsory for those with Covid

symptoms, in public transport and health facilities

█ BY ASHIQIN ARIFFIN off permanently.
[email protected] The public had also said

PETALING JAYA: Health Minister making the wearing of masks
Khairy Jamaluddin announced optional would assist the
that mask-wearing is now optional community to return to normalcy.
indoors.
However, it is still compulsory The ministry also urged that
for those who have tested positive Malaysians stay vigilant of their
for Covid-19 and have developed surroundings and continue to
symptoms, and for those travelling wear masks whenever necessary.
in public transport, including
e-hailing, school buses and It also outlined several places
airplanes. and situations in which it is highly
Malaysians are also expected to recommended to wear a mask,
wear masks when entering health such as in crowded places like
facilities such as hospitals, clinics, night markets, stadiums, shopping
welfare homes and haemodialysis malls and houses of worship.
centres.
Khairy also said owners of any Putting on a mask is also
premises could decide whether to recommended for those who are
make mask-wearing compulsory in the high-risk category, and
or optional for customers. those who are not feeling well with
On Tuesday, theSun reported symptoms such as fever, flu and
mixed reactions from cough.
representatives of different
business sectors regarding the Malaysians are also advised to
possible lifting of mask mandate. wear masks when conducting
Many were hopeful for the activities with people of high risk
ministry to ease up on the such as children.
mask-wearing requirement as
they were concerned about Khairy said the decision was
environmental sustainability and made based on the latest Covid-19
that most Malaysians were development, which continues to
inoculated. improve in the country.
The new mask update would
serve the public interest as some He advised the public to take
would prefer to continue wearing the highest precautions to avoid
them as a safety precaution, while contracting the disease and
others preferred to take them continue to observe physical
distancing to protect themselves.

Khairy said the Technical Work
Group decided on Aug 3 to
recommend a second booster of
mRNA vaccine for high-risk
individuals based on medical
practitioners’ advice.

No visa-free entry to Taiwan
for Malaysians yet

PETALING JAYA: Yesterday in a opening its borders on a
surprise move, Taiwan temporarily step-by-step basis to ensure that
suspended visa-free entry for Covid-19 infections are contained.
travellers from a slew of countries,
including Malaysia. “I am positive this
misunderstanding will not affect
Other countries on the any ties we have with Malaysia. We
“suspension list” include understand many countries have
Singapore, Israel, Japan, South begun opening their borders but,
Korea, Thailand, Brunei, the at the moment, we would like to
Philippines, Russia, Chile, take things slowly,” he said.
Dominican Republic and
Nicaragua, according to Taiwan’s Taiwan has maintained its
Ministry of Foreign Affairs website. entry and quarantine rules that are
in place, even as large parts of Asia
This comes after Taiwan said on have relaxed or lifted them
Monday it would resume visa-free completely. In June, Taiwan cut the
entry for travellers from the list of number of isolation days for
countries it currently shares arrivals to three from seven.
diplomatic ties with.
Travellers who wish to go to
However, Taipei Economic and visit the island need to follow a
Cultural Office in Malaysia director “3+4” quarantine rule, or three
Benjamin Hong said yesterday the days alone in full hotel quarantine
press release issued on Monday followed by four days in
was misunderstood as only self-quarantine.
travellers from certain countries
listed, including Canada, US, The country has also reported
Australia, New Zealand and more than 5.3 million domestic
Europe, were allowed visa-free cases of Covid-19 since the
entry to Taiwan starting from Sept beginning of the year, driven by the
12. more infectious Omicron variant.

“We allow these countries to But with more than 99% of
visit us without visas. We would those exhibiting zero or mild
also wish to extend our invitations symptoms, the government has
to Malaysians to visit Taiwan with relaxed rather than tightened
the only difference being that they restrictions.
will need to apply for a visa for the
time being,” he told theSun. “This is a temporary measure
and we are looking at opening up
Hong said Taiwan is slowly soon to all our diplomatic allies,”
Hong said.

5theSUN ON THURSDAY | SEPTEMBER 8, 2022
NEWS WITHOUT BORDERS

KUALA LUMPUR: The High Court Banker: Najib issued 38 Cops tracking
was told yesterday that Datuk Seri cheques for RM8.4m down suspect
Najib Abdul Razak had issued 38 in peeping case
cheques for RM8.4 million from his oBank would contact customer to verification purposes.
personal account as payment to 18 confirm transaction if payment Meanwhile, when cross- SHAH ALAM: Police are
individuals, six political entities and exceeds RM20,000, says witness looking for a man who peeped
six firms between 2011 and 2012. examined by lawyer Wan Aizuddin at a teacher using the toilet at
RM2 million, Machang Umno for his witness statement during Wan Mohammed, representing the Shah Alam National Sports
AmBank (M) Bhd senior RM400,000 and the Tun Razak examination-in-chief by deputy Najib, the witness said the bank Complex on Aug 15.
manager (cheque processing centre Barisan Nasional Division for public prosecutor Deepa Nair would contact the customer to
division) Badrul Hisam Mohamad, RM200,000. Thevaharan in the Pekan MP’s trial confirm the transaction if the Shah Alam district police
48, said among the individual over the misappropriation of cheque issued was for more than chief ACP Mohd Iqbal Ibrahim
recipients of the cheques were “Among the companies that RM2.3 billion from 1Malaysia RM20,000. said his team received a report
former Land and Cooperative received the cheques from Najib Development Bhd (1MDB). on the incident the same day.
Development minister Tan Sri were Qalif Umar Creative “We, at the cheque processing
Kasitah Gaddam and former (RM130,000), Semarak Konsortium Referring to scanned copies of division, do not make the call He said the suspect’s
Human Resources minister Datuk Satu Sdn Bhd (RM274,750), Gading the cheques at AmIslamik Bank Bhd personally, but the officers at the actions were recorded on a
Seri Richard Riot Jaem, who each Emas Management Services Jalan Raja Chulan Branch for Najib’s AmBank branch will decide. closed circuit television
received RM100,000, Bernama (RM50,000), Fanisa Consultancy account, Badrul Hisam said he was (CCTV) camera and posted on
reported. And Services (RM95,000) ) and Two able to identify Najib’s signature “They will contact the customer social media.
One Holidays Malaysia Sdn Bhd because it was recorded in the directly or via the Relationship
The 36th prosecution witness (RM178,000).” signature database system, which he Manager who handles the The recording showed the
said six companies received had to refer to for comparison and customer’s account.” man entering the women’s
RM1,428,250, five Umno branches Badrul Hisam was reading out toilet at the sports complex.
and divisions received Najib, 69, is facing four charges
RM4,670,000, the Tun Razak of using his position to obtain He said on the day of the
Barisan Nasional branch received bribes amounting to RM2.3 billion incident, the teacher had taken
RM200,000 and RM2,107,600 were of 1MDB funds and 21 charges of students to the complex to
the total value of cheques issued to money laundering involving the participate in a National Day
18 individuals from Najib’s personal same amount. parade practice and while she
AmBank account, ending with was in the toilet, she saw a man
number 694. peeping at her from the next
cubicle.
He said Najib issued cheques to
Pekan Umno for RM200,000, Pekan “The suspect bolted when
Umno Wanita for RM170,000, the teacher screamed.”
Selangor Umno Wanita for
RM1.9 million, Selangor Umno for The case is being
investigated under Section 448
KEEPING SAFE AT of the Penal Code and Section
SEA ... From right: 14 of the Minor Offenses Act.
Australian Border Force
Counselor of the “Investigators are trying to
Australian High obtain CCTV footage from
Commissioner in Kuala other locations nearby and
Lumpur Supt John anyone with further
Fleming, Joint Agency information on the case can
Taskforce (Sovereign call 016-274 5515.” – Bernama
Border Operations
Division) deputy Baling floods:
commander Comm Ky 130 residents
Blackman, fisherman evacuated
Azmi Hussin and
Penang MMEA director BALING: A total of 130
Kapt Abd Razak residents from 37 families
Mohamed at a were relocated to two
ceremony yesterday to temporary evacuation
present safety centres after two districts
equipment to the local were hit by flash floods on
fishing community in Tuesday.
Teluk Kumbar, Penang. Baling district Civil
– MASRY CHE ANI Defence Force officer Lt (PA)
/THESUN Mohd Faizol Ab Aziz said 96
evacuees from 31 families
were accommodated at
Dewan Terbuka Kampung
Padang Empang, while 34
others from six families were
housed at Dewan Masjid Al
Huda in Kampung Hangus.
“As of 8am yesterday, the
Court dismisses bid to strike out nonfeasance suit evacuees who were moved to
Dewan Terbuka Kampung
Padang Empang comprised
PUTRAJAYA: The Court of Appeal The other defendants in the suit unsustainable case to warrant it to strike out Indira Gandhi’s suit that four babies, 22 senior
yesterday dismissed an application are the police, Home Ministry and be struck out. claimed the IGP had deliberately citizens, 31 children and 39
by the inspector-general of police the government. and negligently disregarded a adults, while Dewan Masjid
(IGP) and three others to strike out a She said there was no error by mandamus order in failing to Al Huda in Kampung Hangus
nonfeasance suit filed against them “We are of the considered view the High Court in its decision investigate or take appropriate housed four elderly
by a kindergarten teacher over their that based on the facts and to dismiss the striking-out action to return her youngest child, individuals, 20 children and
alleged failure to arrest her circumstances of this case, there application brought by the IGP and Prasana Diksa. 10 adults.”
ex-husband and return her are complex issues of law including three others, adding that there was He said the flash floods
daughter, whom he abducted. issues on interpretation of Section no merit in the appeal. She alleged that the IGP, the occurred following heavy
7(2) of the Government Home Ministry and the government rain for about three hours
A three-member panel Proceedings Act, Section 20 of the She also ordered the defendants had a role to play in making starting at 2pm on Tuesday,
comprising judges Datuk Hanipah Police Act and also on the common to pay RM10,000 costs to Indira decisions or ordering the police which caused the water at
Farikullah, Datuk M. Gunalan and law position on the tort of Gandhi and set Sept 14 for case to execute the committal Sungai Kupang to overflow
Datuk Ahmad Zaidi Ibrahim held nonfeasance by a public officer,” management at the High Court. warrant against her ex-husband into the settlements located
that the suit filed by M.Indira said Hanipah. Muhammad Riduan Abdullah, who near the river banks.
Gandhi should be dealt with by On July 16 last year, then High was formerly known as – Bernama
way of a trial. She said Indira Gandhi’s claim Court Judge Datuk Mohd Nazlan K. Pathmanathan. – Bernama
was not an obviously Mohd Ghazali (now Court of Appeal
judge) dismissed the application to

Zahid to know VLN case decision on Sept 23

SHAH ALAM: The High Court here after hearing submissions by both and B. Thavani, while Ahmad Zahid Vui Khiun, Wan Quoris Shah and the VLN system as well as to
will decide on Sept 23 whether to parties at the end of the was represented by lawyers Datuk Wan Abdul Ghani and David Tan maintain the contract agreement to
free or order former deputy prime prosecution’s case. The judge also Hisyam Teh Poh Teik, Datuk Ahmad Siong Sun. supply the VLN integrated system.
minister Datuk Seri Dr Ahmad Zahid thanked the prosecution and the Zaidi Zainal and Hamidi Mohd Noh.
Hamidi to enter his defence on the defence for their oral submissions. Ahmad Zahid, 69, is facing 33 On another seven counts, he was
40 charges of receiving bribes in The prosecution closed its case charges of receiving bribes charged with obtaining for himself
connection with the Foreign Visa The prosecution was represented on Aug 11 after calling 18 witnesses, amounting to S$13.56 million S$1,150,000, RM3 million, 15,000
System (VLN) case. by deputy public prosecutors Datuk including former Home Ministry (RM43.4 million) from UKSB for Swiss francs (RM68,532) and
Raja Rozela Raja Toran, Datuk Wan secretary-general Tan Sri Alwi himself as home minister to extend US$15,000 (RM67,200) from the
High Court Judge Datuk Mohd Shaharuddin Wan Ladin, Abdul Ibrahim and former Ultra Kirana the contract of the company as the same company, which has links with
Yazid Mustafa set the date yesterday Malik Ayob, Zander Lim Wai Keong Sdn Bhd (UKSB) directors Harry Lee operator of OSC services in China his official duties. – Bernama

6 theSUN ON THURSDAY | SEPTEMBER 8, 2022 READ OUR HERE SCAN
NEWS WITHOUT BORDERS ME
/thesundaily
Seven drown in
flooded South Indonesia regions told
Korean car park to curb transport costs

SEOUL: The death toll from Typhoon o Thousands join protests “Regional (governments) must take action A Transport Ministry official said the fare
Hinnamnor rose to 10 in South Korea, across country against like during the (pandemic),” he said, adding changes only applied to transport services and
authorities said yesterday, after the storm recent fuel price hike local leaders had been told to use their budget not deliveries.
battered the southern coast with huge waves to cover higher transport costs, especially for
and heavy rain this week. JAKARTA: Indonesia’s President Joko Widodo distribution of basic foods like shallots and Jokowi called on the public to unite to
said yesterday he had ordered provincial eggs. weather the energy and food crises that have
The typhoon, one of the most powerful to governments to use their budgets to rein in been exacerbated by the war in Ukraine, which
hit the country in decades, flooded streets transport costs and counter the inflationary Indonesia’s August inflation rate was 4.69%, he said would continue to affect global supplies
and buildings as it passed through on impact of last week’s fuel price hike on already near a seven-year high and above the for a while yet.
Monday and Tuesday. Southeast Asia’s biggest economy. central bank’s target for a third straight month
due to rising food prices. The president made no mention of protests
In the southeastern port city of Pohang – Under pressure to control a swelling energy that have flared up since the fuel price hike
one of the hardest-hit areas – seven bodies subsidy budget, Widodo, popularly known as Later yesterday, the Transport Ministry announcement.
and two survivors were pulled out of the Jokowi, hiked subsidised fuel prices by 30% on announced that minimum fares for app-based
submerged underground parking lot of an Saturday, sparking protests across the nation of motorbike taxi services will be raised by up to His ministers have sought to ease tensions by
apartment complex, said the Central 270 million people. 13.33% per km starting Sept 10 to account for the emphasising that money is being pumped into
Disaster and Safety Countermeasures fuel price hike. state welfare programmes to soften the blow
Headquarters. “The calculation by my ministers was from rising inflation.
(inflation will) rise by 1.8%. But that’s if we do The ministry would also increase the
The nine were trapped after they went nothing. I don’t want to do nothing, we have to minimum base fares for the first 4km of travel by Thousands of people joined protests across
into the parking lot to move their cars during intervene,” Jokowi said, referring to the between 13% to 31%, depending on the area of Indonesia on Tuesday against the fuel price
the downpours, according to local media knock-on inflationary impact of fuel prices. service. hike, but analysts said Jokowi is well placed to
reports. weather the storm due to strong political
In Indonesia, motorbike taxis are extensively backing.
Search and rescue operations continued used for transport as well as to deliver goods,
yesterday, and authorities said two people through platforms operated by firms such as A small rally took place yesterday outside the
were still missing. GoTo and Grab, with drivers seeking fare Bogor presidential palace, while police fired tear
adjustment as costs rose. gas to disperse protesters in Aceh province,
One other death was confirmed media reported. – Reuters
in Pohang yesterday, and another in
Gyeongju where a person was killed when a Head of Hong Kong journalist union arrested
home was buried in a landslide, authorities
said. HONG KONG: The head of a journalist union of this month for the six-month Reuters Institute Police action often follows such media
was arrested yesterday, a police source said, just fellowship programme at Oxford University. coverage.
The nine fatalities follow the death of a weeks before he was set to leave the city and
woman in her 70s who died in Pohang after begin an overseas fellowship. Authorities have used a national security law Local tabloid Apple Daily and online news
being swept away by floodwaters on and colonial-era sedition charges to crack platform StandNews were forced to close last
Tuesday. Hong Kong Journalists Association (HKJA) down on dissent in Hong Kong after democracy year after executives were charged with
president Ronson Chan was arrested for protests three years ago. national security violations, leaving hundreds
Hinnamnor forced more than 4,700 allegedly obstructing a police officer and of journalists out of work.
people to flee their homes for safety, and it disorder in a public place, said the source. Local media deemed critical of the
destroyed around 12,000 homes and government have faced a surge in police When Reporters Without Borders (RSF)
buildings. Channel C, the online news outlet Chan investigations. released its annual press freedom ranking in
works for, said the veteran reporter was taken May, Hong Kong had plunged 68 places to
Nearly 90,000 households lost power away by police officers who asked to check his Like many now-shuttered civil society 148th in the world.
nationwide as the storm hit, but supply had identity while he was reporting on a meeting of groups and pro-democracy unions, both Chan
been restored to most of them by yesterday public housing flat owners. and the HKJA have faced repeated criticism In RSF’s first report in 2002, Hong Kong had
morning, authorities said. from media outlets that answer to Beijing’s some of the freest media in Asia and ranked
Chan was set to leave Hong Kong at the end Liaison Office in the city. 18th worldwide. – AFP
Before the typhoon made landfall, South
BRIEFSKorean authorities closed more than 600 Indian mum fights tiger with bare hands to save son
schools nationwide as a precaution and
local airlines cancelled some 250 domestic NEW DELHI: An Indian mother fought off a villagers heard her screams and rushed to her villagers had been told to stay indoors at night.
flights. – AFP tiger with her bare hands to save her toddler rescue. A rise in human-animal conflicts has been
from its jaws, an official said yesterday.
12 DEAD IN VIETNAM The tiger then slunk away into the forest. seen across South Asia as ever more forest is lost
KARAOKE BAR FIRE Archana Choudhary stepped out of her “The woman has been admitted to the to urban expansion.
house in the central state of Madhya Pradesh on hospital,” said Shrivastava.
HANOI: A fire tore through a karaoke Sunday night as the 15-month-old boy wanted “She is out of danger and recovering. Nearly 225 people were killed in tiger attacks
bar in southern Vietnam killing 12 to relieve himself. “The baby is also doing fine.” between 2014 and 2019 in India, according to
people and leaving 11 injured, a local The mother suffered punctured lungs and government figures.
official said yesterday. The blaze A tiger believed to have strayed from the wounds to her abdomen while the toddler had
engulfed the second and third floors nearby Bandhavgarh Tiger Reserve pounced on deep gashes on his head. More than 200 tigers were killed by poachers
of the building in Thuan An city on them, said local official Sanjeev Shrivastava. The Times of India newspaper said a or electrocution between 2012 and 2018, the
Tuesday night, trapping customers search operation was under way to push data showed.
and staff members as dense smoke It attacked and tried to sink its teeth into the the tiger back to its territory and that
filled the staircase and blocked the child’s head but the mother leapt to the rescue. India is home to around 70% of the world’s
emergency exit, state media reported. tigers and the tiger population was estimated at
Many crowded onto a balcony to The tiger kept trying to snatch the boy until 2,967 in 2018. – AFP
escape the flames, which grew quickly
as they caught the wooden interior, SEEKING SHELTER ...
and others were forced to jump from Children walking along a
the building, the reports added. damaged road as their
“Rescue teams are still looking for families take refuge in
victims at the scene. The cause of the Bajara Village along the
fire has not been determined and is banks of Lake Manchar in
being investigated,” said Thuan An Pakistan. – REUTERSPIX
official Nguyen Thanh Tam. – AFP

NEW DELHI TO BAN
FIRECRACKERS

NEW DELHI: India’s capital is to ban
firecrackers to ease the burden of
winter pollution on its
longer-suffering residents. The city of
about 20 million people is the world’s
most polluted capital and the air
becomes particularly bad from
mid-December to February, as cold air
traps dust, vehicle emissions and
smoke from burning crop stubble in
nearby fields. “In order to save people
from the danger of pollution in Delhi,
like last year, this time also the
production, storage, sale and use of all
types of firecrackers are being
completely banned,” New Delhi
Environment Minister Gopal Rai
posted on Twitter. His office said the
date of the ban would be announced
later this week. He said it would end
on Jan 1. – Reuters

7theSUN ON THURSDAY | SEPTEMBER 8, 2022
NEWS WITHOUT BORDERS

PRECARIOUS US foresees
MOVE ... Rescue annual Covid
workers evacuating boosters
quake-affected
residents at the site WASHINGTON: Barring the
of a landslide near emergence of drastically different
the Chinese town variants, Covid boosters will likely be
of Moxi, following recommended annually in a similar
a 6.8-magnitude manner to influenza vaccines, US
earthquake in health officials said on Tuesday.
Sichuan province.
– REUTERSPIX The announcement came after
the Food and Drug Administration
Developing world cheated last week authorised updated
by Ukraine grain deal: Putin bivalent shots against both the
original strain of the coronavirus and
o Moscow hints it will look to revise terms went to poor countries, as he the removal of some logistical the BA.4 and BA.5 lineages of the
accused the West of acting as sanctions which it said disrupted its Omicron variant, which are
MOSCOW: Russian President if the situation was not addressed, colonial states. own exports of agricultural products BRIEFSpredominant.
Vladimir Putin said yesterday Russia saying he would contact Turkey’s and fertilisers, in exchange for
and the developing world had been President Tayyip Erdogan to discuss “Almost all the grain exported easing the military blockade on “We likely are moving towards a
“cheated” by a landmark grain deal possible restrictions on which from Ukraine is sent not to the Ukraine’s southern ports. path with a vaccination cadence
designed to alleviate a looming food countries can receive shipments. poorest developing countries, but to similar to that of the annual influenza
crisis. European Union countries.” “There are no direct sanctions vaccine, with annual updated
“Once again, developing against products, but there are Covid-19 shots matched to the
Speaking at an economic forum countries have simply been deceived Ukraine’s Agriculture Minister restrictions related to logistics, currently circulating strains,” said
in the Russian Far Eastern city of and continue to be deceived. Mykola Solsky said yesterday it was freight, payments and insurance. President Joe Biden’s chief medical
Vladivostok, Putin took aim at the not aware of any formal steps taken adviser Anthony Fauci.
deal, brokered by Turkey and the “It is obvious that with this by Russia to amend the terms of the “Many of these elements of
United Nations, saying Ukrainian approach, the scale of food problems deal, which remains the only restrictions remain,” Putin said. However, the elderly and
grain exports were not going to the in the world will only increase ... significant diplomatic breakthrough immunocompromised may require
world’s poorest countries as which can lead to an unprecedented in the six-month conflict. He also blasted Europe’s calls for more frequent shots – and the annual
originally intended. humanitarian catastrophe.” a price cap on Russian gas as strategy would have to be reviewed in
Putin also said some restrictions “stupid”. case of a “curveball” such as a
He warned of a global food crisis Putin said only two of 87 ships, on Russia’s fertiliser exports had been dangerous new variant that differs
carrying 60,000 tonnes of products, eased, but “clever sanctions” were Putin said Moscow would walk dramatically from predictions.
still complicating Russian trade. away from its supply contracts if the
West imposed price caps on Russia’s White House Covid coordinator
Moscow claimed it was promised exports. – Reuters Ashish Jha said the message was
“simple”.
Document on nuke readiness found at Trump home
“If you are 12 or older, and have
WASHINGTON: One of the It did not name the country documents were “likely concealed” January after months of back and been previously vaccinated, now is
classified documents seized by the whose defence and nuclear to obstruct an FBI probe into forth with the National Archives and the time to get boosted.
FBI at former US president Donald capabilities were cited in the Trump’s potential mishandling of Records Administration.
Trump’s Florida residence document. classified materials. “If you were recently infected or
described the nuclear capabilities The 15 boxes handed over by vaccinated, it’s reasonable to wait a
and military defences of a foreign According to the Post, such When agents searched the Trump were found to contain 184 few months.”
power, The Washington Post documents require special Mar-a-Lago resort on Aug 8, they documents marked as confidential,
reported on Tuesday. clearance on a need-to-know basis, found material so sensitive that secret or top secret. US Centres for Disease Control
rather than a generic top-secret “even FBI counterintelligence and Prevention director Rochelle
The newspaper, citing unnamed clearance. personnel and Department of Justice After prompting from the FBI, Walenksky said projections showed
sources familiar with the case, said attorneys conducting the review Trump’s lawyer eventually turned that uptake of Covid boosters at rates
some of the documents found in There were no details as to where required additional clearance before over an additional 38 classified similar to annual flu coverage could
Trump’s Mar-a-Lago residence were in the residence, which also serves they were permitted to review documents – and provided “sworn prevent as many as 100,000
so highly classified that only the as a private members club, the certain documents”, said a certification” that they represented hospitalisations and 9,000 deaths.
president and Cabinet or highly sensitive material was found, government court filing. the last of the material. – AFP
near-Cabinet level officials would be or under what type of security.
cleared to authorise other The FBI raid came after a review of But the FBI went on to uncover PALESTINIAN KILLED
government officials to access them. Trump is facing mounting legal “highly classified” records that Trump “multiple sources of evidence” IN ISRAELI RAID
pressure, with the Justice finally surrendered to authorities in showing classified documents
Department saying top secret remained at Mar-a-Lago. – AFP RAMALLAH: Israeli troops killed a
Palestinian during a raid in the
Lockdown as Canada police hunt stabbing suspect occupied West Bank yesterday in
what his family called an
OTTAWA: A remote indigenous region ensued, focusing at one point seek immediate shelter. breaching parole in May after unprovoked shooting, but the
community in western Canada left on Regina, Saskatchewan province’s A police helicopter flew overhead serving part of a sentence for assault army described it as return fire.
reeling by a deadly stabbing spree capital 300km to the south. and robbery – is suspected of having Younis Tayeh, 21, had left the
was ordered to lock down on in the area. killed his brother. family home in Tubas village to
Tuesday as police swarmed the area It suddenly turned back to the Federal police assistant try to find his uncle after hearing
searching for a suspect believed to indigenous community on Tuesday “He may be injured and (attempt that he had been detained, said
be hiding there. after police released an emergency commissioner Rhonda Blackmore to) seek medical attention.” the victim’s twin brother Hussein.
message warning that investigators announced on Monday they had “I asked him not to cross the
The attack in the James Smith had “received reports of a possible found the mutilated body of the A motive is not yet known for the street, as a soldier could be taking
Cree Nation Indigenous community sighting” of suspect Myles second suspect, 31-year-old Damien rampage but the suspect has a history aim. As soon as he crossed the
and the town of Weldon on Sunday Sanderson, 32. Sanderson, in a grassy area near a of explosive violence that led to nearly street, he (a soldier) immediately
left 10 dead and 18 wounded. house that was being examined in 60 criminal convictions. shot him,” Younis said. “I tried to
Police in heavily armoured the James Smith Cree Nation. reach him but he (the soldier)
A massive manhunt for two vehicles surged into the community, Police believe some of the victims aimed (and) fired two bullets at
brothers across the vast Prairies while calling on area residents to Blackmore said the older were targeted and others were me, so I couldn’t go out.” In a
Sanderson – who is also wanted for attacked randomly. – AFP statement, the army said an
improvised explosive device was
thrown and shots fired at soldiers,
who returned fire. – Reuters

NEW YORK RETURNS
STOLEN ART TO ITALY

WASHINGTON: Prosecutors in
New York on Tuesday returned
dozens of antiquities stolen from
Italy and valued at around US$19
million (RM77 million), some of
which were found in the
Metropolitan Museum of Art.
“These 58 pieces represent
thousands of years of rich history,
yet traffickers throughout Italy
utilized looters to steal these
items and to line their own
pockets,” said Manhattan district
attorney Alvin Bragg, noting that
it was the third such repatriation
in nine months. “For far too long,
they have sat in museums,
homes, and galleries that had no
rightful claim to their ownership,”
he said at a ceremony attended
by Italian diplomats and law
enforcement officials. – AFP

8 theSUN ON THURSDAY | SEPTEMBER 8, 2022 FOLLOW ON YOUTUBE SCAN
SPEAK UP ME
/theSunMedia

COMMENT by Dr LimYin Sear and Dr Mahfuzah Mohamed LETTERS

FOR the duration of the Covid-19 were Children more [email protected]
pandemic, children prone to infections?
predominantly confined to their More reasons why GEG
homes and as a result, were less has to be supported
exposed to common bacteria and viruses.
This will render younger children’s THE Consumers Association of Penang (CAP) urges
immune systems to develop poorly. members of the Special Select Committee and
From March 2022 onwards, as life seemed parliamentarians to seriously consider whether
to make its way back to normality, children Malaysia advocates the production of generations of
started to attend school, enrichment classes nicotine addicts.
and sports activities again.
This led to many young children falling ill They have the responsibility to protect the greater
with diseases such as influenza, hand-foot- occasionally may develop serious illnesses obtain an adequate amount of vitamin D interests of the population by supporting the
and-mouth disease and lung infections. that need intensive care. from their diet or have inadequate exposure Generational End Game (GEG) rather than those with
An elevated frequency of visits to the to sunlight. vested business interests.
doctor has worried many parents that their If you suspect that your child is
children may be immunocompromised. immunocompromised, it is advisable to seek Hence, a minimum of 400IU (10 µg/day) According to statistics available, the number of
Could it be true that children are more professional advice. is recommended for children and Malaysians using electronic nicotine delivery systems
prone to infections after the pandemic? adolescents, especially among exclusively (ENDS), which include e-cigarettes and vapes, doubled
Children commonly have eight to 10 Below are some tell-tale signs of an breastfed infants and all children and to 1.2 million in 2019 from 600,000 in 2016.
respiratory tract infections per year, immunocompromised child: adolescents who are not routinely exposed to
especially during early childhood and when 0 Frequent and recurrent pneumonia, sunlight. The emergence of ENDS came from the tobacco
they first start attending nursery or bronchitis, sinus infections, ear infections, industry’s search for “reduced-harm” products because
kindergarten. meningitis, or skin infections; However, care should be taken while of increasing pressure on smoking arising from public
Currently, there is no scientific data to 0 Inflammation and infection of internal consuming vitamin D supplementation. health concerns. ENDS were only commercially
show that children are more prone to organs; available in Malaysia in 2015.
infections after the pandemic. 0 Blood disorders, such as low platelet count A daily vitamin D intake of 2000IU or
A briefing by Unicef on the impact of or anaemia; more predisposes individuals to vitamin D E-liquids used by ENDS often have nicotine, a highly
Covid-19 on children has shown that the 0 Digestive problems, such as cramping, toxicity. toxic and addictive chemical, as an ingredient.
prevalence of unhealthy diets such as loss of appetite, nausea and diarrhoea;
snacking has increased. 0 Delayed growth and development; and The signs and symptoms of toxicity to be The nicotine used in ENDS can be in the form of
This may be due to a lack of easy access to 0 Autoimmune disorders, such as lupus, cautious of include headaches, a metallic free-base nicotine, nicotine salt, or a mixture of them.
fresh food and financial constraints, possibly rheumatoid arthritis, or type 1 diabetes. taste in one’s mouth, pancreatitis, nausea
leading to childhood obesity and and vomiting. Pure nicotine is not absorbed well by the body. To
malnourishment. Some parents go to the extreme to create allow nicotine to reach the brain faster, giving a nearly
Additionally, a sedentary lifestyle and the a “super clean” environment to protect their To stop this trend, parents must take on a instant “hit”, the chemical structure of nicotine has to be
lack of exercise could contribute to children and forbid their children to play or healthier lifestyle, acting as role models for changed by adding ammonia or its compounds to pure
childhood obesity, escalating vulnerability to touch anything/anyone that has not been their children. nicotine.
infections. sanitised.
Another major issue that arose during the For example, a three-meal a day diet The process produces highly addictive free-based
MCO period was the disruption of essential Will this be the way to go forward? In the should be restored and children should be nicotine which is commonly used in e-liquids. The
health services, including childhood early years, our immune system was a blank allowed to enjoy at least 60 minutes of industry knows about the process.
immunisations. canvas. physical activity every day.
In a recent WHO pulse survey, 90% of In fact, a senior scientist stated in a 1973 internal
countries reported disruptions to routine Although the infectious disease is a It is also important to decrease a child’s document that “methods which may be used to
immunisations. legitimate cause for concern and a certain screen time and to have routine sleeping increase smoke pH and/or nicotine ‘kick’ include … use
Immunisations are of utmost importance level of cleanliness is necessary, children habits for good quality sleep. of alkaline additives, usually ammonia compounds, to
for preventing certain infectious diseases. need to develop an immunity to common the blend”.
Besides, some children may have been pathogens. The American Academy of Paediatrics
infected with Covid-19 and are currently has recommended no more than two hours On another point, the industry exploited the fact that
experiencing the “long Covid” syndrome. Overprotecting children from germs is of screen time for children and teenagers and government tests measure total nicotine content but
Another important issue that needs to be detrimental to their development. no screen time for children under the age of not the proportions of different forms of the chemical.
taken seriously is the mental health of two.
children and their caretakers. Therefore, it is the art of balancing As a result, the industry can use the highly addictive
It has been observed that adults are more between a clean environment rather than a It is vital to reschedule all the health visits forms of nicotine in formulating their e-liquid.
prone to infections when stressed. sterile environment. and preventive care services, including
The Adverse Childhood Experience study dental checks up, optometrist visits and Although a government may regulate the nicotine
showed that adverse childhood experiences Some parents may wonder whether hand immunisations that the child may have content of an e-liquid, the nicotine intake is highly
in categories of abuse, household challenges washing or sanitising, is the better way to missed. dependent on a few factors: the depth and frequency of
and neglect are not only associated with prevent the spread of germs. puffs, the form of nicotine used and the amount of
deteriorating mental health outcomes, but Do not buy over-counter antibiotics or nicotine present in the e-liquid.
also with chronic health conditions such as Studies have shown that soap and water reuse leftover medicine.
diabetes, heart disease, chronic obstructive are better equipped to remove more germs The Universiti Sains Malaysia-based National
pulmonary disease, liver disease and cancer. from one’s hand than a hand sanitiser. If your child is unwell, it is always Poison Centre reported that it had received nearly 30
All the aforementioned points will render advisable to seek opinions from your family cases of vaping-related poisoning between 2015 and
children to be at higher risk of infections and However, it is recommended to use hand physician or a paediatrician. 2020. There were six reported cases in 2019 and the
sanitisers when washing with soap is not an number of cases doubled in 2020 to 13 cases.
option. It is of utmost importance that as parents,
you create a clean and happy environment Most of the cases involved children aged between
Vitamin supplements have also been for your children to thrive in, both for their one and four, the youngest being four months.
gaining more attention, especially during the mental and physical health.
pandemic. We want to reiterate our stance of supporting GEG
Dr Lim Yin Sear is a senior lecturer of because every Malaysian must act to protect the health
Generally speaking, children with a paediatrics and Dr Mahfuzah Mohamed is a and lives of our future generation.
balanced diet and outdoor activities would guest lecturer of paediatrics in the School of
attain the daily requirement of nutrients. We urge our MPs to let good sense prevail and
Medicine, Faculty of Health and Medical support GEG.
Vitamin D supplementation is only Sciences at Taylor’s University. Comment:
recommended to those who are unable to Mohideen Abdul Kader
[email protected] President

Consumers Association of Penang (CAP)

9theSUN ON THURSDAY | SEPTEMBER 8, 2022
SPEAK UP

The uniting force behind food

COMMENbyTAina Fazlin Ibrahim Bajunid and Faizalo Mansor

FOOD is part of our culture. utensils and pots that they used only for
It is at every event whether it is their vegetarian meals, even though we
during happy times such as were only making instant noodles.
celebrations, or even solemn
They recognised that as a Muslim I
events such as funerals. had dietary restrictions because of
Food is always a highlight even when religion and they respected that.
we are fasting as seen during the month Through the years, we have attended
of Ramadan, with Ramadan bazaars and Chinese friends’ weddings where they
Iftar buffets. Food cuts across all races and served non-Halal foods.
economies. But they also had a reserved table for
We have witnessed food bringing family and friends who were vegetarians
people together even at green events or Muslims, serving vegetarian and
recently organised by the Malaysian Muslim-friendly food.
Vegetarian Society (MVS) at two different They also ensured that our foods (and
Muslim-owned, 100% plant-based and drinks) had no alcohol. The owners of The Vegan Place (second and third from right) during the event recently.
vegan restaurants – Hijau Kuala Lumpur Again, it was a show of respect for
and The Vegan Place. friends and family with different dietary The Food and Agriculture can we do as individuals?
On the buffet spread at the event in restrictions. Organisation (FAO) of the United Nations Many of us grew up being taught that
Hijau Kuala Lumpur were Raya dishes This practice among other cultures defines it as when “all people, at all times, before we eat, we need to make sure that
such as lontong, nasi impit and kuah made us reflect on our own Malay culture have physical and economic access to our neighbours have food to eat as well.
kacang, mushroom rendang and lemang too. sufficient, safe and nutritious food to It is a teaching by many religions. Even
daun lerek, satay, Indomee curry, and an When we go to Malay weddings, were “If we reduced meet their dietary needs and food in Islam, it is taught that “he is not a
assortment of Malay kuih-muih. there vegetarian options for our guests preferences for an active and healthy life”. believer who eats his fill whilst his
While at The Vegan Place, we had with different dietary preferences? our meat Taking examples of the past, pre- neighbour beside him goes hungry”.
kampung-style dishes like nangka masak Would our vegetarian Hindu and Merdeka days and learning from it, our So many of us are already helping to
lemak, rebung, sambal petai and tempeh, Buddhist friends be comfortable consumption great-grandparents survived that era and feed the poor and hungry in our
ulam-ulam, roti jala, pengat durian, sago attending and eating at our Malay had enough to eat by growing and communities, with street feedings and
gula Melaka and even some authentic weddings? to zero and ate harvesting food around the house from soup kitchens, donations and charities.
Pakistani mushroom briyani and vegan a vegan diet, roots and tubers like cassava and sweet
cakes. In a traditional kampung setup, most we would have potatoes, greens like kangkung and pucuk Is changing what we eat ourselves
weddings would not have specific minimised our ubi to all other kinds of ulam, fruits and going to have a global impact on other
The food was delicious and both the vegetarian options. carbon vegetables. people?
events attracted a mixed crowd from
different demographics as well. Therefore, vegetarian friends would Fast-forward to the present day, To put it simply, yes. Through
most likely have eggless desserts and community gardens, home gardens and understanding the cycle and
Everyone enjoyed each other’s drinks, or choose not to attend the event. balcony gardens are mushrooming all interdependencies of our current food
company while feasting on sustainable system, these studies and reports show
However, in more recent hotel
foods. wedding setups we have observed our around us as we are going back to our that animal agriculture contributes to
Muslim-owned vegan restaurants, society being more inclusive and having a “roots”. world hunger through inefficient use of
though still limited in numbers, are a vegetarian table or a separate vegetarian footprint to the Learning to grow our food can help valuable food resources such as animal
growing market. buffet line too. people save money and also create an feed, it takes up about 75% of global soy
Vegetarian restaurants and other And it is interesting to see that even opportunity to make money. harvest and makes up for 30% of global
eateries having vegetarian options have non-vegetarians would be helping least and there When we are not able to grow it freshwater usage.
been the norm here in Malaysia. themselves to plant-based foods and ourselves, we should source local If these resources were instead used to
However, there is a growing trend trying them out. will be an produce as it will minimise the costs and feed humans, it can feed about 10 billion
toward vegan and plant-based foods as Another example of how plant-based reduce our carbon footprint. people on a plant-based diet.
our society is growing more conscious menus are universal would be when we overall FAO recommends that we can all be Therefore, reducing our consumption
and aware of the foods we choose to eat go travelling overseas. food heroes by growing our food at home, of animal-based foods does have a direct
and their impact on our health, the planet Muslims who do not eat pork and decrease in buying seasonal and local food, cutting effect on eradicating world hunger.
and people. Hindus who do not eat beef would more down our food waste and eating more Do we know how much animal meat
A universal menu often than not be searching for vegetarian biodiversity fruits and vegetables. we are eating?
Some of the guests we had at the Makan- options to meet their dietary needs. loss, GHG
Makan MVS Raya Hijau at RexKL and emissions, How does “what we put on our plate” Statista Consumer Goods and FMCG
Makan-Makan MVS Masakan Kampung Looking back at the time when our help other people? reports that in 2021, Malaysians
The Vegan Place in Hartamas have never families were overseas for about four consumed an estimated 49.7kg of poultry
years studying abroad, our families were The World Wide Fund for Nature meat per person.
eating mostly vegetarian and pescatarian (WWF) in its Planet-Based Diet Report
cropland andWhen they were asked why they said not easily available then. states “Nature restoration will depend on This puts Malaysia among the top
tasted Malay dishes. foods the entire time as halal meat was a combination of dietary shifts, reduction global consumers of poultry meat
in food loss and waste, and adoption of worldwide.
they were born vegetarians for religious So going plant-based to adapt to grazing land nature-positive production practices. So what happens when we reduce
reasons and had never tried Malay foods unfamiliar places is not an uncommon “Dietary shifts are potentially the meat consumption?
because it was known to contain meat or thing. quickest action to achieve and can help The WWF Planet-Based Diet
use, water useseafood in almost all the dishes.
Therefore, vegetarianism should no facilitate the other two actions.” calculator shows that as Malaysians, if we
More often than not, even a simple longer be associated with only specific What dietary shifts you might ask? “As reduced our meat consumption to zero
vegetable dish would contain some religious practices. and individuals, we should choose and ate a vegan diet, we would have
hidden flavouring enhancers such as Vegetarian, vegan and 100% plant- sustainable foods. Eat more plants than minimised our carbon footprint
anchovies or dried shrimps, or chicken based foods, except for onions, garlic, and eutrophication animals. Eat healthily and minimise drastically and there will be an overall
and meat stock. alliums, can be adopted and practised as processed foods while ensuring balance decrease in biodiversity loss, GHG
Growing up in multi-racial a universal menu, regardless of religion, and variety.” emissions, cropland and grazing land
communities and attending multi-racial race, or dietary restrictions. According to WWF Research, use, water use and eutrophication.
schools, we started understanding this adopting a plant-based diet can reduce This reduction will happen because
back in our primary and secondary Food security agricultural land use by at least 41%. currently, animal agriculture is
school years. Food security is the current buzzword Consequently, we can move towards responsible for:
When I went to my Indian friend’s and is something we want to achieve. But optimising crop yields and feeding global 0 14.5% of greenhouse gases;
house, my friend’s mom made sure I used what is food security? humanity on existing cropland and cease 0 80% of rainforest destruction; and
deforestation. 0 80% of arable land
An FAO report titled “Livestock and The WWF calculations for an optimal
Landscapes Globally”, states that “there is calorie range of 2,500 calories, with
enough cropland to feed nine billion grains, roots, tubers, fruits, vegetables,
(people) in 2050 if 40% of all crops legumes, nuts and seeds, also indicate
produced today for feeding animals were that we could reduce the mortality rate
used directly for human consumption, by 23.35% compared with our current
while available grasslands were more diet.
efficiently used as the basis for livestock So, as we celebrate Merdeka and
feed.” Malaysia Day by cooking at home with
In terms of population, FAO reports our family or eating at restaurants with
that “it is estimated that between 720 and our friends let us all be mindful and
811 million people in the world grateful for what we have and what we
experienced hunger in 2020. Nearly one can do.
in three people in the world (2.37 billion) Let food unite us. Let us eat green. Let
did not have access to adequate food (and us eat sustainably.
nutrition) in 2020.” Let us do this together, for the people
Many factors play a role in this, but for #KeluargaMalaysia. One green meal at a
us to be on track for the sustainable time.
development goal of zero hunger by 2030,
FAO states that “we need bold actions”. Comments: [email protected]
Happy diners during the Makan-Makan MVS Masakan Kampung The Vegan Place in Hartamas. So what are these bold actions? What

10 theSUN ON THURSDAY | SEPTEMBER 8, 2022

BRIEFS MALAYSIAN, SINGAPORE Premium Visa Programme
FIRMS TO STRENGTHEN seen as boon to local industry
GREEN COLLABORATION
KUALA LUMPUR: Property o Industry players say attractive benefits will first year. The conditions are not
PETALING JAYA: Four real estate developer Mah Sing Group Bhd and pull in foreign investors demanding, and the benefits of
players from Malaysia and Singapore real estate technology group Juwai living in Malaysia under a long-
have signed a memorandum of IQI agree that the launch of the Kashif Ansari Leong Hoy Kum Malaysians, particularly first-time term visa are very attractive.
understanding (MoU) to strengthen Premium Visa Programme (PVIP) buyers. Mah Sing hopes that more Foreigners want to be able to live
collaborative efforts for the cross- will attract affluent foreign investors participants in the first year of the goodies will be announced in the and work here, send their children
adoption of green building to Malaysia, which will benefit the newly announced programme, who upcoming Budget 2023 on October to local international schools, and
solutions, innovations and best local property industry. will contribute RM200 million to the 7,” Leong said in a statement earlier not have to worry about renewing
practices. The four-party MoU economy and fixed deposits of RM1 this week. their visas every six or 12 months,”
involves GreenRE Sdn Bhd, the Real According to Mah Sing, the PVIP billion. he said.
Estate and Housing Developers’ is a supplement to the existing “We are well aware that the Meanwhile, Juwai IQI group co-
Association Malaysia, the Real Estate Malaysia My Second Home upcoming Budget 2023 founder and CEO Kashif Ansari According to the official pre-
Developers’ Association of (MM2H). In comparison to MM2H, announcement will continue to believes the PVIP will likely Covid statistics for the MM2H visa,
Singapore and the Singapore Green the PVIP allows for a longer stay of prioritise the welfare of Keluarga succeed in attracting its target of which is different than the PVIP,
Building Council. The MoU will 20 years and allows participants to Malaysia (Malaysian Family), while 1,000 participants in its first year Chinese citizens made up about
deepen collaboration and is study, buy property, invest, work, also preparing the country for a and will open the door to wealthy 31% of participants. Japanese
anchored on information exchange, and run businesses. more challenging global economic migrants with attractive terms that accounted for about 11% of MM2H
joint learning, research and crisis next year. Mah Sing supports clarify any uncertainties they may participants, Bangladeshis 10%,
development, as well as promoting Mah Sing founder and group the government’s initiative to make have had after the recent reform of and UK citizens 6%. The top
green-certified products. managing director Tan Sri Leong home ownership more accessible to MM2H. nationalities participating in the
Hoy Kum said the PVIP will benefit PVIP are expected to include
LAGENDA PROPERTIES the group’s developments and He said the programme is open Japanese and other Asian
TEAMS UP WITH hopes that it will attract more to foreigners with sufficient nationalities, then Europeans,
SELANGOR STATE FIRM foreign direct investment (FDI) to overseas income and assets to make North Americans, and those from
the country and create job them net contributors to society the Gulf nations.
KUALA LUMPUR: Lagenda opportunities for locals, thus and the economy. The PVIP launch
Properties Bhd, through its wholly strengthening the value of the is the latest step in transforming “The conditions for residency
owned subsidiary Blossom Eastland ringgit. Malaysia’s immigration policy from under the PVIP include income of
Sdn Bhd, has entered into a quantity to quality. RM40,000 per month, an RM1
development joint venture with Open for application starting Oct million deposit in a Malaysian bank,
Kumpulan Hartanah Selangor Bhd 1, 2022, PVIP applicants must have “We believe the new visa and an upfront participation fee of
(KHSB), a wholly owned subsidiary at least RM1 million in their bank programme will be a success and RM200,000 per applicant and
of the Selangor state government, account and can only withdraw 50% succeed in attracting close to its RM100,000 per dependent. The visa
to develop a 191-acre plot in of that amount after a year to pay for target of 1,000 participants in the is valid for 20 years, although
Bernam Jaya. The Bernam Jaya property purchases or medical and renewals are required every five
development will be Lagenda’s first educational expenses. years,” Kashif remarked.
foray into Selangor. It is targeted to
launch by the fourth quarter of The government targets 1,000
2023. With Lagenda as the
developer and KHSB as the Buyers of Sunway Property green-certified
landowner, the joint venture aims to units to enjoy Public Bank’s special package
develop the land into a township
with more than 2,000 units of PETALING JAYA: Public Bank Bhd purchase green-certified properties customers who wish to purchase financing by 2025, including
affordable landed homes that are and Sunway Integrated Properties for both residential and non- eco-friendly and energy efficient making green building financing
priced below RM250,000. Sdn Bhd (Sunway Property) have residential properties developed by appliances, fixtures and fittings to more accessible to customers,“ Tay
signed a memorandum of Sunway Property will get to enjoy further enhance the sustainability said in a statement today.
SOLARVEST TO BOOST understanding (MoU) to collaborate Public Bank’s special sustainable elements of their properties.
RESIDENTIAL SOLAR on property financing for green and financing package. As the leading property financier
ADOPTION VIA ECOHOME sustainable development projects. “In line with Public Bank’s in the country with a strong market
“Through this special package, commitment to be carbon neutral share of 20.5% and 33.8%
PETALING JAYA: Clean energy Public Bank managing director customers will get to enjoy by the year 2030 and net-zero by respectively in residential and non-
specialist Solarvest Holdings Bhd and CEO Tan Sri Dr Tay Ah Lek said preferential pricing, fast lane 2050, the bank will be mobilising residential properties financing as
has established a subsidiary, Vestech with this MoU, customers who approval and a financing option for RM40 billion in ESG-friendly of June 2022, Public Bank is well
Energy Sdn Bhd, to focus on positioned to encourage green
providing solar solutions to the From left: Public property ownership in the country.
residential segment in an effort to Bank deputy CEO
enhance solar adoption rate among Datuk Chang Kat Sunway Property, in alignment
homeowners. Through Vestech, Kiam, Tay, Sunway with the Sunway Group, has set five
Solarvest has launched six EcoHome Property ESG goals with 19 targets to fully
solar plans tailored for landed house managing director support Malaysia’s transition to a
homeowners with average monthly Sarena Cheah and low-carbon, climate-resilient
electricity bills from RM300 and Sunway Property economy by 2030, with sights set on
above. The EcoHome solar plans senior executive net zero by 2050.
come with solar system size ranging director Chong
from 4.5kWp up to 12.6kWp. Sau Min during The first of these goals is to drive
the MoU signing the transformation of Sunway
SP SETIA’S LEGASI IV IN ceremony. Property’s developments into low-
PUCHONG FULLY TAKEN UP carbon, sustainable cities and aims
to reduce emissions, achieve a set of
PETALING JAYA: SP Setia’s township resource efficiency targets, divert
development Bandar Kinrara in waste away from landfills and
Puchong, Selangor, has recorded a certify industrial and construction
100% take-up rate for Legasi IV since sites, among others, by 2030.
its launch on July 31, 2022. With
gross development value of RM61
million, Legasi IV is a low-density
development with 44 units of
double-storey terraces in the
precinct of Bandar Kinrara 8 and are
priced from RM1.27 million. Within a
built-up of 2,261 sq ft or 2,437 sq ft,
each unit is designed to have 4+1
bedrooms and five bathrooms.

Goodbye pollutants, hello cleaner air

BRAVING through the endemic pollen, dust mites and other To rid indoor air of all sorts of In fact, air purifiers have been a everyday cleaning.
phase and with lingering concern biological viruses and bacteria to harmful pollutants that cannot be popular addition to indoor living In a tech report which studied
over Covid-19, it is crucial to continue thriving. detected with the naked eye, an air spaces, thanks to the many benefits
safeguard the air quality of your purifier is the best solution to the they bring. Even before the Covid-19 Malaysia’s air purifier market
home and office. Among other air pollutants are problem. Air purifiers have long been pandemic, air purifiers have been growth, it found that Malaysia’s air
asbestos – used in insulation for proven to refresh stale air and helping many Malaysians improve purifier market was valued at more
According to the American pipes, floor tiles and building improve poor air quality indoors. the air quality in their homes. Aside than US$68 million in 2020 and is
Environmental Protection Agency’s materials; carbon monoxide – found They have also been known to from improving overall health and anticipated to grow at a rate of
Reports on Environment, indoor air in kerosene lamps and gas heaters; minimise health issues caused by wellbeing, air purifiers also remove 5.41% in the forecast period of 2022-
is two to five times more polluted pesticides – often used at home to get pollutants, such as respiratory mould from the air, eliminate pollen 2026. This is a testament that
than outdoor air and is among the rid of insects and other pests; infections, asthma and even irritation from indoor or outdoor plants, owning an air purifier is essential
top five environmental risks to public second-hand smoke – caused by of the eyes, nose and throat. Poor air neutralise unpleasant odours and and there is a growing importance
health. This is partly because indoor cigarettes; and volatile organic quality can also cause headaches, improve overall sleep quality. They in choosing the right one for your
air is not circulated as often as compounds – such as paints, wood fatigue or even skin rash due to are also known to filter pollutants daily needs.
outdoor air, allowing many airborne preservatives, aerosol sprays, air allergies to certain pollutants. that cannot be removed via normal This article is contributed by Coway.
pollutants such as dust, pet fur, fresheners and even disinfectants.

S E C U R I T I E S S D N. B H D. THURSDAY
SEPTEMBER 8, 2022
197201001092 (12738-U)
Editorial Tel: 03-7784 6688
A Participating Organisation of Bursa Malaysia Securities Berhad Fax: 03-7785 2624/5

A Trading Participant of Bursa Malaysia Derivatives Berhad Email: [email protected]
Advertising Tel: 03-7784 8888
7/9/2022 Fax: 03-7784 4424

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

50.5 Institutions 843.2 791.9 51.3

25.2 Retail 404.5 410.1 -5.6

24.3 Foreign 369.8 415.5 -45.7 13.35 158.43 267.15 33.56 97.20
STI HANG SENG TSEC KOSPI S&P/ASX200
100.0 1617.5 1617.5 0 3.08 3,210.83 2.85 196.21 14,410.05 2,376.46
KLCI 19,044.30 SCI NIKKEI 6,729.30
Preliminary stats (excluding trade amendments). For final data, please refer to www.bursamalaysia.com 1,491.35 3,246.29 27,430.30
Source: Bursa Malaysia

KL MARKET SUMMARY Boost eyes digital bank
September 7, 2022

INDICES 10,585.30 CHANGE +16.47 licences in Southeast Asia
FBMEMAS
FBMKLCI 1,491.35 +3.08
CONSUMER PRODUCTS 573.39 +1.51
INDUSTRIAL PRODUCTS 185.05 +1.42
CONSTRUCTION 156.87 -1.00
FINANCIAL SERVICES 16,713.00 -21.80
ENERGY 709.19 -12.20
TELECOMMUNICATIONS 585.94 -6.37 (loyalty, billing, offline and book growth via banking and
HEALTH CARE 1,557.89 +6.99 o Axiata Group’s fintech arm refreshes online payments) and fund non-conventional sources,”
TRANSPORTATION 813.16 +0.49 brand, looks beyond Malaysia and mobilisation (securitisation, Sheyantha said.
PROPERTY 652.65 +2.18 Indonesia wallets).
PLANTATION 7,028.83 (-0.48 In the coming months, Meanwhile, the CEO said
FBMSHA 10,664.50 +30.53 Boost customers can expect Boost remains in the red but
FBMACE 4,773.62 -26.70 enhanced consumer lending losses have been trending
TECHNOLOGY 62.79 -0.11 propositions, savings and downwards since 2019. It
partnerships on the ground. investment solutions along expects revenue growth to
TURNOVER VALUE █ BY HAYATUN RAZAK As and when opportunities with a venture into a new moderate to 35% this year
2.365 BIL RM1.1617 BIL [email protected] arise in the markets, we will market, while doubling down from 111% in 2021 and 52% in
PETALING JAYA: Boost look at that,” he told a press in Indonesia as building 2020 as consumer behaviour
Holdings Bhd, the fintech arm conference at the Boost blocks in preparation for the normalises in the endemic
5 MOST ACTIVES of Axiata Group Bhd, is eyeing Refreshed Brand reveal digital bank launch. stage of Covid-19.
September 7, 2022 digital banking licences in yesterday. “In Indonesia, we are
other markets in Southeast expanding our proposition by Year-on-year, it doubled its
STOCK VOL CLSG (sen) +/– (sen) Asia with similar structures Following the recent digital partnering with ecosystem loan value disbursed region-
MTRONIC 318,175,200 6.0 -1.5 and opportunities as that in bank licence award from Bank players in industries like wide, 43.1% increase in
SAPNRG 52,844,400 4.0 -1.0 Malaysia and Indonesia, Negara Malaysia, the CEO said FMCG (fast moving consumer merchant touchpoints to over
MYEG 52,368,400 85.5 +2.0 where it currently operates. it is on track for the launch goods), telco and direct-to- 500,000 across Malaysia and
CENGILD 45,770,900 54.5 +3.5 although there is no specific home content. Indonesia, as well as 10.5%
UMC 44,219,000 76.0 +4.0 Boost group CEO timeline. “We are also looking to see increase in userbase to over 10
Sheyantha Abeykoon said it million.
has ambitions to penetrate “Our building blocks are in how we can transition our
similar markets with sizeable place, so we feel that we will fintech lending model into Boost revealed new
5 TOP GAINERS underserved customers that be ready in the timeline that value-added merchant product line-ups for users and
September 7, 2022 traditional financial ins- we set for ourselves,” he solutions and products, merchants scheduled to be
titutions have not been able to added. similar to what has taken hold released throughout 2022 and
STOCK VOL CLSG (RM) +/– RM service or reach adequately. in Malaysia. 2023, including bigger wallet
PMBTECH-LA 2,500 19.62 +3.12 Boost’s four building “We will also be entering sizes.
PETDAG 136,900 21.52 +0.62 “Additionally, if we feel we blocks encompass lending into partnerships to further
PCHEM 12,264,700 9.00 +0.26 have a right to play in that (ecosystem lending, buy-now- mobilise funding for loan Among its recent launches
F&N 2,300 22.00 +0.22 market, such as if we have pay-later, straight loans, fee- is Biz Booster for merchants, a
PMETAL 9,300,700 4.99 +0.19 based (insurance), payments data-as-a-service analytical
tool.

5 TOP LOSERS
September 7, 2022

STOCK VOL CLSG (RM) +/– RM
DIN045801028 10 102.00 -0.50
MPI 285,100 29.16 -0.34
HENGYUAN 3,290,500 4.59 -0.27
FANG-2XL 400 6.57 -0.16
PETRONM 515,200 4.78 -0.16

EXCHANGE RATES SEPTEMBER 7, 2022 Sheyantha (left)
and CMO Diana
Foreign currency Bank sell Bank buy Bank buy Boo unveiling the
refreshed look of
1 US DOLLAR TT/OD TT OD Boost’s brand
1 AUSTRALIAN DOLLAR 4.5665 4.4335 4.4235
1 BRUNEI DOLLAR 3.0820 2.9610 2.9450 NCCIM calls for greater efforts in digitalising SME
1 CANADIAN DOLLAR 3.2420 3.1480 3.1400
1 EURO 3.4620 3.3700 3.3580 KUALA LUMPUR: The public market, specifically by the labour now poses another Ukraine war. Coupled with the
1 NEWZEALAND DOLLAR 4.5200 4.3750 4.3550 and the private sectors have electrical and electronics sector. problem because there are now energy and food inflation – both
1 SINGAPORE DOLLAR 2.7590 2.6580 2.6420 been urged to put efforts into environmental, social and in double digits – no country is
1 STERLING POUND 3.2420 3.1480 3.1400 digitalising small and medium “So, if we strengthen the governance (ESG) initiatives to actually recovering,” he
1 SWISS FRANC 5.2510 5.0860 5.0660 enterprises (SME) with focus on SME and the value chain, remarked.
100 UAE DIRHAM 4.6170 4.5130 4.4980 high-growth sectors as including addressing comply with and this imposes
100 BANGLADESHTAKA 125.8000 119.3200 119.1200 digitalisation will be a game the labour shortage, “higher pressures” on “The headwinds are there,
100 CHINESE RENMINBI 4.8920 4.5850 4.3850 changer in Budget 2023, the I think the govern- stakeholders. but we are in a very strong
100 HONGKONG DOLLAR 65.6000 63.2000 National Chamber of Commerce ment would have “So, in many ways, position because of our internal
100 INDIAN RUPEE 58.8000 55.9000 N/A and Industry of Malaysia done fairly well Budget 2023 will domestic market.”
100 INDONESIAN RUPIAH 5.8100 5.4600 55.7000 (NCCIM) said. in terms of probably be an-
100 JAPANESE YEN 0.0317 0.0287 5.2600 (giving) appro- chored on areas The IMF expects the global
100 NEWTAIWAN DOLLAR 3.1910 3.0900 0.0237 Its treasurer-general Datuk vals to bring in where we have very economic situation to continue to
100 PAKISTAN RUPEE 15.9000 3.0800 Dr AT Kumararajah said the 400,000 foreign strong fundamentals,” be challenging for the rest of 2022
100 PHILIPPINE PESO 2.0900 N/A digital world has accelerated. workers,” he added. and in 2023 with an increased risk
100 QATAR RIYAL 8.1200 1.9600 N/A he added. of recession with managing
100 SAUDI RIYAL 125.7000 7.6500 1.7600 “Focus on the high-growth Kumararajah said the On the International director Kristalina Georgieva
100THAI BAHT 122.8900 119.3300 7.4500 sectors and I think we will be problem in the economy today Monetary Fund’s (IMF) describing the global economy as
12.9700 116.6700 119.1300 home in 2023,” he said on is labour shortage and this has “gloomy outlook” for the global “extremely uncertain”.
11.5100 116.4700 Bernama TV’s programme, The resulted in billions of ringgit in economy, Kumararajah said
11.1100 Brief, yesterday. lost income in the first eight this was already factored in as Inflation rates will rise
months of this year. early as April this year. sharply, causing central banks
Source: Malayan Banking Berhad/Bernama He said the 6.9% growth in “It just got gloomier because in major economies to tighten
the first half of 2022 was He said this must be of the protracted Russia- monetary policy, the IMF said.
primarily driven by the export mitigated but bringing in – Bernama

12 theSUN ON THURSDAY | SEPTEMBER 8, 2022 BRIEFS AMINVEST DECLARES RM83M
SUNBIZ INCOME DISTRIBUTION

MDV: RM40m disbursed PETALING JAYA: AMMB Holdings Bhd’s
to support tech startups funds management business brand
AmInvest has declared a total net income
o Venture capital firm urges Asian countries to take the opportunity to finance young distribution of RM83.4 million for 27 unit
firms as Western investors are holding back investments due to global uncertainties trusts, wholesale funds and exchange-
traded fund (ETF) from April to June 2022,
KUALA LUMPUR: Malaysia Debt Venture Bhd access to funds,” he said. disbursed funds totalling RM25 million to two encompassing conventional and syariah-
(MDV) has disbursed RM40 million of its He added that as such, it is important for buy now, pay later technology companies, and compliant funds across various asset
RM60 million funding target for this year, and it is currently looking into two other companies classes. Its one-year income distribution
plans to expand its financing services to Malaysia to come up with a retention strategy operating in the same field. yield for the funds range from 0.4% to
support more Malaysian technology startups. to ensure that local startups would remain in 14.3%. Amongst the funds involved, the
the country. Meanwhile, MDV is planning to expand its income distribution declared for
Chairman Khairul Azwan Harun said the footprint and services to reach more AmDividend Income, US-Canada Income
funds had been disbursed through MDV’s Khairul Azwan also said that Asian technology companies in sectors that it has yet and Growth and AmIncome Plus has
Liquidity Financing for Tech Startups (LIFTS) countries, especially Malaysia, should take the to tap into to ensure more holistic coverage of translated to income distribution yields of
and the MDV Technology Venture Financing opportunity to finance start-up companies its financing. 14.3%, 6.8% and 5.6%, respectively. “Our
Microfund Guarantee Scheme. since the European and US investors are taking investment philosophy and strategies
their time in their investments following the It will also continue to extend its assistance have proven to deliver long-term returns
“We want to reach out to more startups to uncertainties due to the Ukraine-Russia to Malaysian startups through international for investors,”said AmFunds Management
ensure that they remain in the country,” he said conflict, among others. partnerships and funding opportunities. – Bhd CEO Goh Wee Peng in a statement.
during a press conference in conjunction with Bernama FTSE Bursa Malaysia KLCI ETF, Malaysia’s
the upcoming KL Venture Finance Forum 2022 On another note, he said that MDV has first equity ETF, has declared an income
(KLVF2022). distribution yield of 3.6% for the year
following an interim income distribution
To be held on Sept 12, the KLVF2022 will of 3 sen in the month of June 2022. It is
feature local and international speakers from designed to follow the performance of its
the regulatory and financial sectors as well as benchmark index FTSE Bursa Malaysia
local startups that have achieved unicorn KLCI, which comprises Malaysia’s top 30
(those worth over US$1 billion) status. largest companies in terms of market cap.
AmInvest is an ETF provider in the country
Khairul Azwan said the KLVF is very with assets under management of RM1.6
important as it provides a gauge on the billion.
competitiveness of local startups.
BNM INTERNATIONAL
Commenting on the local startup RESERVES AT
landscape, he noted that many startup US$108.2B ON AUG 30
companies from various sectors have taken
advantage of local universities’ research and KUALA LUMPUR: Bank Negara Malaysia’s
development output. (BNM) international reserves dropped
2.43% to US$108.2 billion (RM487.22
“After that, they move to neighbouring billion) as at Aug 30, 2022, from US$110.9
countries or other countries in the region such billion at Aug 15, 2022. “The reserves
as Hong Kong and the Middle East to get easier position is sufficient to finance 5.4
months of imports of goods and services,
Halal Development Corp, Matrade in MoU and is 1.1 times of the total short-term
with HYT to facilitate exports to China external debt,” the central bank said.

KUALA LUMPUR: Halal Development with exports of RM4.6 billion and RM3.7 Datuk Danny Tan, and Matrade CEO Datuk MRC TO PROMOTE M’SIA-MADE
Corporation Berhad (HDC) and Malaysia billion, respectively,” he told media after the Mohd Mustafa Abdul Aziz. HALAL GLOVES AT MIHAS 2022
External Trade Development Corporation signing ceremony at the 18th Malaysia
(Matrade) yesterday signed a MoU with HYT International Halal Showcase yesterday. Meanwhile, HYT CEO Kyle Keah said the KUALA LUMPUR: The Malaysian Rubber
Cross Border Sdn Bhd to facilitate the export of collaboration will provide access to China’s Council (MRC) will be promoting made-
Malaysian halal products to China. The MoU signatories were Hairol market via JD.com marketplace, adding that in-Malaysia halal gloves at the Malaysia
(representing HDC), HYT managing director there is a growing demand for Malaysia’s halal International Halal Showcase (MIHAS)
HDC CEO Hairol Ariffein Sahari said the products in China. 2022, alongside other agricommodity
collaboration aims to pave the way for its halal agencies under the Ministry of Plantation
integrated platform (HIP) and micro, small and “As China’s domestic market continues to Industries and Commodities (MPIC).
medium enterprises to perform cross-border grow with rising consumption, HIP members MIHAS 2022 starts yesterday until Sept
e-commerce export. can use HYT services as a platform to give 10, and this year’s theme is “Ethical
product exposure to Chinese consumers, Consumption”. In a statement yesterday,
“We hope via today’s MoU, there will be thereby increasing export sales,” he said. MRC said the agricommodity sectors will
further increase in the amount of Malaysian halal be showcasing the development and
products exported to China since it is the main Hence, HYT will provide end-to-end production of quality as well as
export destination of our local halal products. support including onboarding, demand competitive products in sustainable ways
generation, marketing, payment and fulfilment that coincide with the halal concept.
“China has overtaken Singapore as services for halal products entering China, “Amongst the products that MRC will be
Malaysia’s largest export destination in 2021 Keah said. – Bernama promoting under halal gloves category
are medical gloves, disposable gloves,
Social finance, impact investing new growth avenues for Islamic capital market and food handling gloves, which comply
to stringent international standards with
KUALA LUMPUR: Social finance and impact to be at the heart of the development strategy innovative ecosystem for financial high-quality consistency and
investing are potentially new growth avenues for the Islamic capital market and driving the technologies to prosper,” he added. competitively priced,” it said. MRC CEO
for the Islamic capital market. development of the Islamic capital market Nor Hizwan Ahmad said he is looking
through the next phase of growth will require He pointed out that emphasis has been forward to the active participation from
The Securities Commission (SC) deputy closer collaboration among the various placed on enhancing access to financing and all exhibitors and trade visitors across the
CEO Datuk Zainal Izlan Zainal Abidin said stakeholders. increasing investor participation through globe at MIHAS 2022 to steer initiatives
there are opportunities to explore integrating digital platforms such as equity crowdfunding, and actions to enhance the global halal
impact assessments with Islamic social While product and service innovation is peer-to-peer financing, digital investment economy. – Bernama
finance instruments, to enable investors to key, he noted that initiatives to build capacity management, and digital asset exchanges.
measure the impact of investments in socio- as well as awareness remain important, POS MALAYSIA, BIZAPP
economic development and economic well- including raising awareness that the Islamic “In encouraging the development of TEAM UP TO EMPOWER SME
being. capital market has universal applicability, Islamic fintech, the SC has entered into a
and is not just for a limited segment of the collaboration with the United Nations Capital KUALA LUMPUR: Pos Malaysia Bhd and
“Another focus area under the third Capital market. Development Fund (UNCDF) to launch the BizApp Ventures Sdn Bhd yesterday
Market Masterplan is promoting greater first regulator-led Islamic fintech accelerator inked a memorandum of understanding
technology adoption in the Islamic capital “In this regard, given the substantial for the Malaysian capital market, known as (MoU) to jointly collaborate in
market. amount of funding requirement globally to Fikra,” said Zainal Izlan. empowering small- and medium-sized
achieve the sustainable development goals, enterprises (SME), especially those in
“In addition, further study on the Islamic capital market can and should play a Fikra, which means “ideas”, provides a rural and underserved areas. The BizApp
application of Maqasid al Shariah in the more significant role as capital can then be collaborative platform to connect innovative application has raked in sales and
context of the Islamic capital market will also mobilised more effectively, efficiently, and start-ups with the SC, UNCDF mentors, purchase transactions of RM1.9 billion
be explored,” he said in his keynote address at productively,” said Zainal Izlan. industry experts, and investors to build a from 2021 until now, due to the increase
the Islamic Finance News UK Forum held at vibrant and well-supported Islamic fintech in delivery service efficiency, especially
the Mansion House, London recently. “In the fintech space, the SC has ecosystem by identifying and scaling those provided by Pos Malaysia. Pos
undertaken various initiatives to establish an innovative fintech solutions. – Bernama Malaysia will additionally provide
Zainal Izlan said innovation must continue training on how to grow and leverage
the power of logistics. BizApp, a social
commerce platform, will provide training
to SME in terms of the adoption of order
management system, and data and
fulfilment management via its business
management platform. BizApp currently
helps over 600,000 agents and handled a
gross merchandise volume of over
RM1.27 billion in 2021.

FOLLOW ON FACEBOOK SCAN 13theSUN ON THURSDAY | SEPTEMBER 8, 2022
ME * SUNBIZ
/thesundaily

AOB fines, bans Kreston John & Gan partners from auditing for a year

PETALING JAYA: The Securities Commission Financial Reporting Standards (MFRS) audit procedures on accounting estimates control reviewer (EQCR), had failed to
Malaysia’s Audit Oversight Board (AOB) has accounting framework to Financial Reporting relating to property development costs nor sufficiently review the selected audit
prohibited Charles Lee King Long and Gan Standards for the financial documentation relating to judgements and
Kim Guan, partners of Kreston John & Gan, year ended Dec 31, 2016. obtain appropriate audit risk areas of the engagement and the basis of
from accepting and auditing any public evidence to support the the conclusions reached in the application of
interest entities (PIE) or scheduling funds for “The reversion was found conclusions reached. accounting framework, property
12 months due to their failure to comply with to be inappropriate and development costs, trade receivables, revenue
the International Standards on Auditing. inconsistent with the “In many instances, the and going concern.
implementation of MFRS by documentation in support of “The AOB views this seriously and
The AOB has also imposed fines of the Malaysian Accounting the conclusions reached by reiterates the crucial role of EQCR in
RM35,000 on Lee and RM17,500 on Gan. Standards Board,” AOB said in Lee were found to be either safeguarding the integrity of audit quality and
a statement yesterday. incomplete or inadequate,” control process,” AOB said.
According to the AOB, Lee had wrongfully it added.
assessed the PIE’s reversion from Malaysian Additionally, Lee had failed to perform Meanwhile, Gan, the engagement quality

KAB to expand further into T7 Global secures
sustainable energy solutions third mini-ROV
works contract

PETALING JAYA: Energy solutions provider T7
Global Bhd wholly owned subsidiary Tanjung
Offshore Services Sdn Bhd has
bagged a contract from
Petronas Carigali Sdn Bhd
for mini remotely operated
o Group aims to become vehicle (mini-ROV) works.
one-stop engineering and Tanjung Offshore will
energy solutions provider provide platform-based
underwater inspection
services by utilising mini-ROVs
for over 30 offshore structures such as jackets
and pipelines in Malaysia. The contract is
PETALING JAYA: Kejuruteraan Asastera Bhd effective for two years until Aug 11, 2024.
(KAB) has proposed a diversification of its T7 Global group CEO Tan Kay Zhuin said
business to include the provision of this is its third mini-ROV contract, with the
sustainable energy solutions (SES). previous contracts awarded by Petroliam
Nasional Bhd (Petronas) and Pioneer Pegasus
The group is principally involved in the Sdn Bhd in 2019 and 2021 respectively, for a
provision of mechanical and electrical total of 15 platforms inspection works.
(M&E) engineering services. The group’s “The mini-ROV business is anticipated to
core business is electrical engineering provide annual recurring revenue for T7 Global.
services and involves the installation, testing We view this as a long-term sustainable
and commissioning of electrical systems. business where technology plays a vital role in
The group also provides mechanical transforming the way we perform inspection
engineering services including installation, and maintenance works. T7 Global presents an
testing and commissioning of air- innovative underwater inspection and
conditioning and mechanical ventilation maintenance approach in the region and
systems. welcomes offshore operators to consider our
solution,” remarked Tan.
As part of the group’s strategy to diversify The mini-ROV is one of T7 Global’s early
its business and create an additional source initiatives, having begun as a trial project in
of income on top of the existing contribution 2019 through its offshore construction services
from its core M&E engineering business, the and renewable energy generation. knowledge that may be of benefit to each segment, where the company integrates
group has been steadily venturing into the “Due to certain similarities in the nature other. This initiative is in line with the group’s compact robotic inspection technology into the
SES business since 2019. aim of becoming a one-stop engineering and underwater operations. Offshore structures are
of the solutions provided to customers under energy solutions provider in the market,” required to undergo regular inspection tests to
In view that both businesses are the group’s SES business and M&E KAB said in a stock exchange filing. verify their structural stability and T7 Global is
complementary with each other and may engineering business, both businesses share able to cater to this market in a more efficient
share similar target customer segments, this similar target customer segments. In The proposed diversification is expected and cost-effective manner.
initiative is in line with the group’s aim of addition, although the group’s SES business to contribute positively to the future T7 said that by utilising its mini-ROV for
becoming a one-stop engineering and and M&E engineering business are operating consolidated earnings of the group. It is underwater inspections and maintenance
energy solutions provider in the market. independently from one another, they can subject to approval from the shareholders at services, clients will save time and cost,
still share certain technical know-how and an EGM to be convened. compared with conventional underwater
Under the SES business, the group has
been involved in the provision of energy
efficient solutions, clean energy generation

Haily bags deal from Mah Sing to build houses in Iskandar Malaysia inspections coupled with marine vessels.

KUALA LUMPUR: Construction player Haily Haily is to build 108 landed residences in the Meridin East township. Tafi Industries unit
Group Bhd has won a second contract worth wins RM115m
RM17.5 million from Meridin East Sdn Bhd, a “Moving forward, the group expects its remain favourable. job from Magna Park
wholly owned subsidiary of Mah Sing Group performance to be driven by its existing “With the latest job win, our order book
Bhd, to build 108 landed residences for its ongoing construction projects as well as new KUALA LUMPUR: Tafi Industries Bhd’s wholly
largest integrated township in the Eastern construction projects expected to be secured. comprises 24 ongoing projects with a total owned unit, Tafi Home and Office Sdn Bhd, has
Gateway of Iskandar Malaysia. The group views that its financial results for contract value of RM578.12 million, which is bagged a turnkey construction contract worth
the financial year ending Dec 31, 2022 will expected to be progressively completed RM115 million from Magna Park Sdn Bhd for
Haily’s wholly owned subsidiary, Haily between 2022 and 2024,” he added. the overall development and construction of
Construction Sdn Bhd, accepted a letter of service apartments Metro Kepong Phase 2D in
award from Meridin East Sdn Bhd, for the Kepong Baru, Kuala Lumpur.
construction of Parcel 2H3 of the Meridin East
township, which entails the construction of In a statement with Bursa Malaysia
108 units of 18ft x 70ft double-storey terrace yesterday, Tafi Industries, a furniture-maker-
houses in Plentong, Johor, yesterday. turned-developer, said Magna Park also
appointed TA Furniture Industries Sdn Bhd,
The construction project will take 16 another wholly-owned subsidiary of Tafi, as the
months, with the commencement date to be project management consultant.
advised by the project’s superintending
officer. The contract is a “firm price contract” “The contract period as set out in the letter
and will not be subjected to any fluctuation in of award shall be 48 months upon obtaining
costs other than variations sanctioned under the approval of building plan from authorities
the conditions of contract. or 30 months upon obtaining the advertising
permit by the developer or a date to be advised
The first contract won by Haily from Mah by the employer (Magna Park), whichever is
Sing in October 2021 was worth RM24.5 later,” it said.
million and entailed the construction of 155
double-storey terrace houses for Meridin Group CEO Datuk Seri Bryan Wong said the
East. contract will contribute positively towards the
company’s earnings from the financial year
Commenting on the contract, Haily Group ending Dec 31, 2023 to Dec 31, 2025. –
founder and executive director See Tin Hai Bernama
said the achievement aligns well with its
future growth to further solidify its standing
within the construction industry.

14 theSUN ON THURSDAY | SEPTEMBER 8, 2022 FOLLOW ON INSTAGRAM SCAN
SUNBIZ ME
@thesundaily

China’s trade falters as local, BRIEFS TENCENT RAISES STAKE
foreign demand wanes IN‘ASSASSIN’S CREED’
GAME MAKER UBISOFT
o FreshCovidcurbsandheatwavesdisruptoutput,export and sluggish consumption, crippled imports.
and import growth miss forecasts Inbound shipments rose just 0.3% in HONG KONG: Tencent Holdings
Ltd is raising its stake in Ubisoft
BEIJING: China’s exports and imports lost International. August from 2.3% in the month prior, well Entertainment SA in a deal that
momentum in August with growth He expects pricing effects will continue to below a forecast 1.1% increase. Both imports values France’s biggest games
significantly missing forecasts as surging and exports grew at their slowest pace in four developer at almost US$10 billion
inflation crippled overseas demand and disrupt trade and said import growth in real months. (RM45 billion), as deep-pocketed
fresh Covid curbs and heatwaves disrupted terms had already turned negative since the Chinese firms continue their
output, reviving downside risks for the shaky late first quarter, suggesting more headwinds China’s imports of crude oil, iron ore and overseas search for growth.
economy. for demand. soybeans all fell, as the strict Covid curbs and Interest in the maker of the
extreme heat disrupted domestic output. “Assassin’s Creed” and “Tom
Exports rose 7.1% in August from a year Responding to the disappointing data, Clancy’s” franchises comes as the
earlier, slowing from an 18% gain in July and China’s yuan extended losses, losing 0.36% to “The remarkably slower imports growth world’s largest games firm by
marking the first slowdown since April, 6.98 per dollar and approaching the indicated the sector has faced a wave of revenue counters slowing growth
official data showed yesterday, well below psychologically crucial 7 mark. headwinds in recent months, which is not at home with purchases including
analysts’ expectations for a 12.8% increase. expected to ease anytime soon,“ said Bruce 16.25% of Japan’s “Elden Ring”
Despite languishing around two-year Pang, a chief economist at Jones Lang developer FromSoftware Inc
Outbound shipments have outperformed lows, the weakening yuan has failed to give Lasalle. announced just a week ago – the
other economic drivers this year but now China’s exports the competitive edge they same time domestic rival NetEase
face growing challenges as rising interest need to make up for softening external “Covid outbreaks disrupted supply chains Inc said it would buy French
rates, inflation and geopolitical tensions demand. and demand, while the power rationing games maker Quantic Dream. The
pummel external demand. measures hurt production. The broad dollar transaction makes Tencent part of
The slower growth is also in part due to strength also brings pressure on imports.” a shareholder pact with Ubisoft’s
The disappointing August trade figures unflattering comparisons with strong exports founders, the Guillemots, and
rattled global financial markets, which have last year, but also worsened by more Covid This left a narrower trade surplus of gives it a total stake in the games
already been buckling under a surging dollar restrictions as infections spiked and US$79.39 billion, compared with a record maker of over 11%. – Reuters
and the prospect of much higher US interest heatwaves disrupted factory output in US$101.26 billion surplus in July, marking
rates. southwestern areas. the lowest since May when Shanghai was UNITED AIRLINES TO DROP
emerging from lockdowns. JFK IF US FAA DOES NOT
“It seems the export softness arrived in Export hub Yiwu imposed a three-day APPROVE MORE FLIGHTS
earlier than expected, as recent shipping lockdown in early August to contain a Covid Chinese policymakers this week signalled
data suggests that demand from the US and outbreak, disrupting local shipments and a renewed sense of urgency to shore up the WASHINGTON: United Airlines
EU has already slowed as shipping prices delivery of Christmas goods amid the peak flagging economy, saying action was critical said on Tuesday it plans to end
have been falling significantly,” said Zhou season. in the quarter as data points to a further loss service in October to New York’s
Hao, chief economist at Guotai Junan of economic momentum. John F. Kennedy Airport (JFK) if
Weak domestic demand, weighed by the the Federal Aviation Administration
worst heatwaves in decades, a property crisis The central bank on Monday said it would (FAA) does not grant the air carrier
cut the amount of foreign exchange reserves additional flights. United CEO
financial institutions must hold, a move Scott Kirby wrote to acting FAA
aimed at slowing the yuan’s recent declines. administrator Billy Nolen last
– Reuters week to urge him to increase
capacity at JFK, according to an
IATA: Air travel US supports Sri Lanka’s debt email Tuesday seen by Reuters.
picks up but high restructuring effort, says Yellen United is flying just twice daily to
fuel price may San Francisco and Los Angeles
hurt airlines COLOMBO: The United States Sri Lanka’s cost of living crisis from JFK, the busiest New York-
will support the restructuring of area airport, after resuming
DUBAI: The global air travel Sri Lanka’s debt and extend Sri Lanka’s economic crisis has seen headline inflation skyrocket, service in 2021. United said it had
industry’s recovery from the financing assurances to the crisis- with food and fuel prices pushing staples like milk, rice, eggs and been working to pursue
Covid pandemic was gaining hit island nation, the US Treasury additional slots “so that we can
momentum, but high fuel Secretary Janet Yellen said in a cooking oil out of reach for many ordinary families grow to be more competitive”
letter seen by Reuters. and said without permanent slots
prices will put pressure on Prices at FOSE Market, Colombo (July 12, Sri Lankan rupees) 80 it cannot serve JFK “effectively
Battling its way out of the worst Typical daily earnings: 2,900 rupees (€8) 80.4 compared to the larger schedules
economic crisis in more than flown by our competitors” like
airlines, the head of the seven decades, Sri Lanka reached JetBlue Airways and American
world’s biggest airline trade a preliminary deal last week with Airlines. – Reuters
body said yesterday. the International Monetary Fund
Globally, passenger traffic (IMF) for a loan of about US$2.9 57.4 54.6 TESLA CUTS WAITING TIME
in July was at about 75% of billion (RM13 billion). Carrots Eggs Wheat flour Milk 45.1 60 FOR MODEL 3, MODEL Y
300 272 DELIVERIES IN CHINA
pre-pandemic levels, helped “The US, as a creditor, stands 490 385 PER KG PER LITRE
by strong demand for ready to participate in a SHANGHAI: Tesla Inc has
restructuring of Sri Lanka’s debt,” PER KG PER 10 shortened delivery waiting times
Yellen said in Tuesday’s letter that for Model 3 and Model Y cars in
domestic services where called for all creditors to co- China to a maximum of 14 weeks,
traffic had recovered 86.9% operate fully in the negotiations according to its Chinese website.
of the level seen in July and restructuring. 39.1 The US automaker slashed the
2019, the body said. Rice Potatoes Onions Tomatoes 29.5 33.8 40 waiting times for most of the
To support Sri Lanka’s talks Model 3 and Model Y cars to six to
International traffic, with the IMF, the US Treasury will 230 220 200 150 10 weeks, the website showed.
engage with other US government PER KG PER KG PER KG PER KG Buyers of the long-range version
however, had recovered agencies, the World Bank and the of Model Y still need to wait for 10
67.9% of the pre-pandemic Asian Development Bank, she National Consumer Price Index 22.1 24.7 23.9 42.4 to 14 weeks after placing the
added. orders, compared to 16 to 20
(Year-on-year change, %) weeks previously. – Reuters
Earlier, the Sri Lankan
levels in July, lagging behind government had said the US Headline inflation 17.5 20 INSTAGRAM TO REDUCE
domestic demand. would support the restructuring 0 SHOPPING FEATURES
International Air effort. 12.1 30.6 AMID COMMERCE RETREAT
Food Non-food 7.5 21.5
Sri Lanka’s financial turmoil, BENGALURU: Meta Platforms Inc’s
Transport Association (IATA) its worst since independence 11.0 Instagram is planning to
director-general Willie from Britain in 1948, stems from 6.8 drastically scale back its shopping
Walsh, on a call with economic mismanagement as 3.2 14.5 features as it shifts the focus of its
reporters, described it as a well as the Covid-19 pandemic 11.0 e-commerce efforts to those that
that has wiped out its key tourism directly drive advertising, the
“solid recovery”, helped by industry. Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Information reported, citing an
demand in the northern internal memo. Staff were
hemisphere over the Sri Lankans have grappled Nov 2019: President Gotabaya May 9: Prime Minister Rajapaksa notified that Instagram’s existing
with acute shortages of fuel and Rajapaksa enacts tax cuts that resigns amid mass protests shopping page will eventually
summer and increased other basic goods for months, disappear, according to the
domestic activity in China. stoking unprecedented protests shrink foreign reserves by around May 12: Five-time former PM report on Tuesday. Over the next
However, Walsh warned that forced a change in $2 billion, ending imports of fuel, Ranil Wickremesinghe reappointed few months Instagram will test a
that high jet fuel prices government. food and medicines simpler and less personalised
would continue to put Jun 16: Energy minister announces version of the shopping page
The crisis came to a head in Apr 3, 2022: Rajapaksa dissolves fuel stocks will only last for five days. known internally as Tab Lite, the
July when then president Information reported. The
pressure on airlines’ cost Gotabaya Rajapaksa, who was cabinet, which includes brother All petrol sales banned except for company launched a public test
accused of economic yesterday on the changes to its
base for the rest of the year, Basil Rajapaksa as finance minister. essential services app designed to switch users to
the Tab Lite version of the
which he described as a Elder brother Mahinda Rajapaksa Jul 13: President Rajapaksa shopping page, the report said. –
continues as prime minister flees country with wife and bodyguards. Reuters

challenge for carriers. Apr 12: Country defaults on Wickremesinghe named acting
“I am aware of some
$51bn of foreign debt president

airlines that have embarked Sources: Central Bank of Sri Lanka, Business Today Pictures: Getty Images © GRAPHIC NEWS
on hedging in recent months
... just to provide themselves mismanagement, fled the country stabilise the economy, however,
with some protection and resigned, to be replaced by which has been buffeted by
against the volatility that Ranil Wickremesinghe. runaway annual inflation that
we’re witnessing,“ he said. – stands at almost 65% now. –
Reuters The veteran lawmaker has Reuters
faced an uphill struggle to

T H U R S DAY
8 SEPTEMBER 2022

█ BY MARK MATHEN VICTOR
PUSHING the boundaries on
traditional wildlife
filmmaking is Bertie Gregory,
a National Geographic
explorer intent on merging the most
current pieces of technology with
wildlife storytelling.
theSun was fortunate to talk to
Gregory about Epic Adventures with
Bertie Gregory, the new Disney+
original series that was conceived
from the young filmmaker’s goal of
telling extraordinary, real-life animal
stories by taking viewers with him for
every beat of the action.
The five-episode series took
around two years to complete, with
Gregory traversing several different
continents, from the rugged African
terrain to the cold Antarctica.
“I think critical when we were
assessing where we were going to go
for this episode, we needed an
unbelievable wildlife event,” Gregory
said.
The BAFTA Award-winning
cinematographer further explained
that the team wanted something that
had never been filmed in the past,
and something that they could
approach uniquely by utilising brand
new technology. Wildlife stories throughGregory looks on as a male lion walks past the filming vehicle. –NATIONALGEOGRAPHICFORDISNEY+
“We also wanted to choose a modern lens

locations that had really interesting
environmental stories, we can not
only can show incredible wildlife
behaviour, but also showcase
environmental issues.”

The threats and challenges faced
by the natural world are often
overlooked in nature documentaries,
and it was something Gregory and his
team also kept in mind going into the
series’ production.
“There are brilliant examples how o Bertie Gregory is at the forefront of natural
when you give wildlife the chance, it world filmmaking
will come back. The Antarctic fin
whales are a perfect example of that,”
Gregory pointed out.
“It was a really rare thing that we
saw, in that it was a wildlife event that distance, and these animals move, we primarily carrying around.
was happening now that is better want to be able to move the camera In the traditional world of nature
than it has been for 50 or even 100 with the animals so that the viewers documentaries and filmmaking, the
years. That is very rare, and that is really feel like they are a part of it,” he filmmakers’ lives are usually prized
thanks to the ban on commercial said. more than the actual equipment they
whaling.” This effort can be seen in the bring into the field. But in this new
Tracking Ocean Giants episode, world of drones and thousands of
From traditional to modern where Gregory filmed a fin whale dollars worth of equipment, Gregory climbing up a tree in the Chisamba forest. – NATIONAL
Throughout the five episodes, gathering in Antartica. suddenly, the finances of the entire GEOGRAPHIC/BERTIE GREGORY FOR DISNEY+
Gregory and his team deploy a “Seeing that from the water and situation also have to be taken into
multitude of sophisticated, current low level is spectacular, but it’s really consideration.
cutting edge technology in order to only when you get up into the air, that Questioned on how he weighs
elevate the series from being “just you realise the scale of the gathering; and assesses the risks of bringing
another documentary” to something 300 fin whales all together, in a high-end technology into the field,
cinematic and up-to-date with the feeding frenzy with thousands of Gregory said it was more about
real world. birds and penguins.” pushing boundaries.
As for Gregory, he finds it For instance, he pointed out that
imperative know about new What are the odds launching a drone off a sailboat in
technology, as it helps tell animal The equipment Gregory and his team rough seas was very challenging, and
stories in new, exciting ways, such as brought into the field comes with a it was probably the hardest place for
drones and stabilised cameras. hefty price tag, including the half a him to pilot a drone.
“As many of the wildlife spectacles million dollar military-grade “[Mitigating the risks involve]
we’re trying to film happen at a large gyrostabilised camera the team are getting so much time on these pieces
of equipment in benign situations, so
that when its ‘Go, go, go!’ and it’s a
hairy situation, all I’m thinking is Filming a baitball in action with yellowfin tuna surrounding it. – NATIONAL
‘How do we do justice to [filming] this GEOGRAPHIC FOR DISNEY+
animal?’ and not ‘Is the technology
going to work? How do I fly this
drone?’
Gregory admits that they put
these extremely expensive cameras
in ridiculous situations, but they’re
nonetheless taking care of them.
“We also work with massive
teams, and with people who really
know how to move in these
landscapes without damaging
humans or equipment”.
The ambitious Epic Adventures
with Bertie Gregory airs on Disney+
Hotstar beginning today, and will
take viewers from the cold waters of
The crew’s ship braving the Southern ocean to reach their destination. – Antarctica to the temperamental Gregory up close and personal with a hammerhead. – NATIONAL GEOGRAPHIC
FOR DISNEY+
NATIONAL GEOGRAPHIC/BERTIE GREGORY FOR DISNEY+ terrains of Zambia.

ENTERTAINMENT Cutting Momoa and his
out plastics famous long
16 theSun LYFE ON THURSDAY | SEPTEMBER 8, 2022 locks. –
o Jason Momoa sacrifices PINTEREST
ON MONDAY, Aquaman star Jason his long locks to draw
Momoa turned to social media to attention to the issue of
salute “new beginnings” by shaving off ocean plastics
his famed long locks.
In the video, he says: “Aloha, everyone,”
before adding, “hand me those braids.”

“I’ve never even felt wind right there!” he
exclaimed, holding two long sections of clipped
braided hair in front of the camera.

He stated that he intended to use this
opportunity to talk about the environment.

The 43-year old actor said in the video: “I’m
tired of using plastic bottles, we gotta stop.
Plastic forks, all that s**t goes into our land, goes
into our ocean. I’m here in Hawaii right now,

Momoa with his chopped off braids. – and just seeing things in our ocean, it’s just so Kingdom, Momoa will be seen reprising his role the new film has more humour than the
INSTAGRAM sad.” as Aquaman. The sequel’s tone is reportedly original, which was an uncommon light-
darker than the first film, a little bit more hearted departure from the normally dark
Momoa, who started the bottled water serious, and more pertinent to the world we live movies inspired by DC Comics.
business Mananalu Water, urged his followers today, according to director James Wan.
to stop using plastic water bottles and convert to The sequel will be released in theatres on
aluminium bottles and containers. He wrote in Momoa, on the other hand, promises that Dec 23, 2023. – by Thashine Selvakumaran
the caption: “Be better at protecting our land
and oceans. We need to cut single-use plastics Chris Pine’s rep denies
out of our lives and out of our seas. Plastic spitting incident
bottles, plastic bags, packaging, utensils – all of
it.” VIDEO footage from Venice that appeared to
show singer-turned-actor Harry Styles spitting
Naturally, the internet was taken aback when into Chris Pine’s lap as he sat down at the world
Momoa shaved off his most popular feature. Of premiere of Olivia Wilde’s Don’t Worry, Darling
course, some were disappointed that his long has dominated internet speculation overnight,
hair is gone, but most fans were delighted that it with the original video receiving 1.4 million
was all in the name of spreading a worthy views.
message, and expressed that he still looks pretty
handsome with short hair. Pine’s rep later released a statement saying:
“This is a ridiculous story – a complete
This isn’t the first time Momoa has raised fabrication and the result of an odd online
attention to an environmental topic by way of illusion that is clearly deceiving and allows for
hair removal. The actor shaved his beard in foolish speculation. There is nothing but respect
2019 to promote the use of recyclable between these two men and any suggestion
aluminium. otherwise is a blatant attempt to create drama
that simply does not exist.”
He also discussed why the cause is
significant to him and recorded the shaving A source close to the Venice Film Festival
process in a YouTube video. reported that there was no tension between
Styles and Pine during the premiere, and that
In the upcoming Aquaman and the Lost no one reported a potential spitting incident.

Justin Bieber world tour on hold due to poor health The alleged Styles-Pine spitting scene was
EARLIER in June, Justin Bieber announced the latest drama to strike the Don’t Worry,
Bieber has that he was postponing several dates for his a priority right now. So I’m going to take a Darling press tour, which has been battling
sadly been Justice World Tour in part due to his existing break from touring for the time being. rumours for weeks about a rift between director
forced to put diagnosis of Ramsay Hunt syndrome, a rare Wilde and lead actress Florence Pugh.
his tour on neurological disorder caused by a virus that “I’m going to be OK, but I need time to rest
hiatus once resulted in his facial paralysis. and get better. I’ve been so proud to bring this Styles and Pugh star in Don’t Worry Darling as
again. – AFP show and our message of justice to the world.” Jack and Alice, a young couple living in the
The star took two months off after his May seemingly perfect company town of Victory,
diagnosis, and continued his tour around Bieber was scheduled to continue his tour California in the 1950s. Their marriage then
Europe at the end of July, before heading to in South America, South Africa, the Middle comes under strain when Pugh’s character,
South America last Sunday. East, Asia, Europe, Australia and New Zealand Alice, uncovers a secret about a neighbour’s
through March 2023. disappearance.
However, on Tuesday, Bieber announced
via an Instagram post that he won’t be So far, his team has not rescheduled the Don’t Worry Darling premieres in theatres
continuing his remaining performances to North American dates that were postponed in worldwide on Sept 23. – by Hazique Zairill
prioritise his health. June, but it appears that Bieber’s scheduled
stopover in Malaysia on Oct 22 will still take Pine’s rep said no one spat on the star at the
In a statement, he wrote: “After resting and place. Venice Film Festival. – REUTERS
consulting with doctors, family and team, I
went to Europe to continue with the tour. I Event organiser PR Worldwide responded
performed six live shows, but it took a real toll to Bieber’s update with this tweet: “We are
on me.” aware that Justin Bieber has decided to take a
break from touring and wish Justin a speedy
He continued: “This past weekend I recovery and admire his decision to put his
performed at Rock in Rio and I gave health first.
everything I have to the people in Brazil. After
getting off stage, the exhaustion overtook me “We can’t wait to see him back on the road.
and I realised that I needed to make my health Our understanding is the Asia leg of the tour is
set to continue as scheduled.” – by Marietta
Mu

BTS’ Jin named Jin shows off
sportiest celebrity his prowess
on the
VOGUE Korea has named BTS member Jin – court. –
whose real name is Kim Seok-jin – as one of ALLKPOP
South Korea’s five sportiest celebrities, placing
him at the top of the list.

Jin enjoys various sports activities such as
water sports, tennis, basketball, football, golf,
taekwondo, wrestling, snowboarding, roller-
skating, skiing, archery, baseball, canoeing,
bicycle riding, billiards, darts, and boxing.

His favourite sport, however, is tennis. Jin
takes lessons from international tennis player
Kim Sang-gyun, and practises every week.

On Aug 27, Jin posted a photo on his
Instagram showing him on a tennis court. In
fact, he regularly posts photos showing him
playing various sports, including golf.

Recently, there has been a debate on
whether members of BTS should be exempted
from South Korea’s mandatory military service.
Jin, who turns 30 in December, would be the
first to face the issue. – by S. Tamarai Chelvi

FOLLOW ON TELEGRAM SCAN ENTERTAINMENT
ME
/thesuntelegram 17theSun LYFE ON THURSDAY | SEPTEMBER 8, 2022

Loot follows Get ready for Rampas
Maya Rudolph’s Cintaku
character Molly
who becomes ASIAN streaming leader iQIYI sets
super rich global premiere for its first Malaysian
overnight after a original series, Rampas Cintaku. The
divorce. – highly anticipated romance
APPLETV melodrama is confirmed for release
on Sept 23 across 191 territories via
www.iq.com and iQIYI international Ady Mohammad is sure to heat things
apps. up in the series.

Money can’t Starring Afieq Shazwan, Fasha
buy you love Sandha, Zarul Husin, Ady
Mohammad, Aidil Aziz and more,
Rampas Cintaku tells the story of
Rizal, a young man who is desperate
to get out of the burden of debt,
poverty and harassment from loan
sharks. He risks it all and moves to
Kuala Lumpur to work in a nightclub
for better wages. He meets the
seductive and wealthy
businesswoman Datin Safieya who
promises him a life of luxury should
he agree to be her sugar baby, despite
being married to Dato Jefri.
Desperate to clear off his family debt,
he accepts her offer but eventually
falls for her against his better
judgement.

Here are reasons why the world is
looking forward to Rampas Cintaku:

o This comedy is about a divorcee with Rudolph begins to understand real Battling between temptation and Afieq Shazwan rounds off the talented
billions of dollars in alimony settlements issues and learn from her mistakes, family values cast of Rampas Cintaku.
setting out on a journey to become a adapts to the real world she lives in Nuff’ said! Fasha Sandha is a Afieq Shazwan’s puppy-like
philanthropist and what philanthropy actually household name in Malaysia who has innocence makes him simply
means, all thanks to her team. starred in many renowned local irresistible. Aidil Aziz on the other
█ BY S. TAMARAI CHELVI remember, and the accountant, productions including Dendam hand is the definition of masculinity.
Arthur (Nat Fixon), who ends up Rudolph, who played the bride Seorang Isteri and Khilaf Asmara. Married to Fasha Sandha in real life,
IN the latest sitcom on Apple falling in love with Molly. in the Bridesmaids movie, is no Fasha Sandha is well-loved for her he’s already known for being a
TV+ streaming services, stranger to comedy and is the positive attitude and versatile acting gentleman and husband-material,
comedian Maya Rudolph Molly is assisted by her loyal perfect choice for the role. skills. In Rampas Cintaku, Fasha that women swoon over. Last but not
plays Molly (Wells) Novak, personal assistant, Nicholas (Joel Sandha challenges herself with a new least, Ady Mohammad has a
who is married to a tech billionaire, Kim Booster), a quick-thinking She is hilarious and really fun to role as a wealthy businesswoman seductive bad boy charm – the sort
John Novak (played by Adam man with a high sense of fashion, watch, especially when she fails at and wife who battles between her your mother warned you about. Ady
Scott), and lives a lavish lifestyle. catering to her every demand while almost everything she does, but own desires and family values. has perfected the art of the smoulder
trying to shield her from harsh manages to fix the mistakes and, at Through this drama, we will see how and his flirtatious eyes and chiselled
One day, everything changes. media coverage. times, turn the matter around Fasha Sandha brings yet a new side of jawline are sure to make him a fan
At her 45th birthday party in quickly. her that we’ve never seen in her favourite.
their mega-mansion, Molly finds In the first few episodes, Molly previous works! Spotlighting the less spoken reality
John’s young secretary and struggles in her attempt to relate to Rudolph carries the character Depicting the harshest reality in love
mistress, Hailey, in his wardrobe, others because the super-rich don’t effortlessly, and while viewers may Malaysian version of The World of and marriage, iQIYI’s first local
and she reveals all about her seem to understand how normal sympathise with the heartbroken The Married – with a twist! original production Rampas Cintaku
relationship with John, and all hell things work in life anymore. Molly at first, seeing her get back on Those who enjoyed The World of the is a rare Malay drama that highlights
breaks loose. track in life, especially with her Married for its crazy revenge story taboo topics like sugarbaby-
She confronts John about his She lives in a bubble and is philanthropic work, is quite and unpredictable plot twists that
affair while he is giving a lovely totally disconnected from the lives exciting. bring viewers on a rollercoaster ride sugarmama relationships,
speech about her in front of the of ordinary people. of emotions, will definitely love while spotlighting the
guests. She bursts out angrily while Besides Rudolph, Rodriguez is Rampas Cintaku! Rampas Cintaku less-spoken realities
being watched by all, and then In one scene, she gives a speech good as the more grounded Sofia, promises an intriguing storyline like female
drives away in one of many fancy during a ribbon-cutting ceremony and is the only one who dares to centred on a shaky marriage. empowerment and
cars. for a women’s shelter and break Molly’s bubble and point out the disadvantaged
After 20 years of marriage, they references her wealthy lifestyle. her mistakes. In the beginning, Datuk Jefri and young generation
are divorced. As there were no pre- Then, she presented the women Datin Safieya are a couple who seem having to make
nuptial agreements, she received with a luxury gift bag, leading to The story is engaging while all like they have it all – a perfect sacrifices for their
US$87 billion (RM390 billion) in eyebrow-raising headlines in the the supporting characters are marriage, a cute daughter, money loved ones.
settlements and became one of the local paper. interesting and add to the series. and prestige. Everything is a facade as
richest women in the world. we find out about Datuk Jefri’s
From then on, Molly spent her Towards the end of the episodes, Even though each of the ten infidelity, prompting Datin Safieya to
days attending parties, until she Maya Rudolph plays episodes lasts less than 30 minutes, plot her revenge. She takes things a
receives a call to meet the director the clueless Molly. you will find yourself wanting to step further by exploring a dangerous
of her charity foundation, Sofia watch more. The show is relationship with a sugarbaby.
Salinas (Michaela Jae Rodriguez). entertaining and enjoyable to
Sofia leads a team of employees watch, especially for the ever-funny A dream cast that makes it
at the foundation, and she is a and charming Rudolph. impossible to take sides!
tough, hard-working, and no- Look out for the three
nonsense character. Upon realising men of Rampas
how the foundation helps others, Cintaku – Afieq
Molly comes to the realisation that Shazwan, Aidil Aziz
her real purpose in life is to do good and Ady
for others. Mohammad ...
From then on, she begins her each with their
philanthropic work, and it’s all fun, own unique
exciting, and sometimes charms! For
embarrassing moments for Molly those who
and her team. fancy the
At the foundation, Molly meets “cute
other employees, including her younger
long-lost cousin Howard (Ron brother”
Funches), whom she does not even type of
man,

Aidil Aziz teams up with real life wife Fasha Sandha in Rampas Cintaku.

FASHION & BEAUTY

18 theSun LYFE ON THURSDAY | SEPTEMBER 8, 2022

Stay young over time
█ BY MARIETTA MU
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potent key ingredients such as the sourced from the goodness of the Restoring Micro Active range is now
Bird’s Nest Amino Acid, which also Immortelle flower, the essence available online at Shopee, Lazada,
stimulates cell growth and protects maintains skin moisture and refines and in-store at Watsons. Reclaim the
the skin barrier, with 15 types of youthfulness in your skin today!
amino acids, antioxidants, and
collagen, all of which pack a powerful

Supporting local designers Kate Moss launches wellness brand

GLOBAL fashion and lifestyle e- BRITISH supermodel Kate Moss has So far the
tailer SHEIN has never been shy in launched a website selling her own Cosmossbykatemoss.com website
its support for local designers. beauty and lifestyle products called sells a small range of vegan-friendly
Whether through design, art, or Cosmoss, becoming the latest star to products including tins of herbal
anything in between, Malaysian venture into branded e-commerce. teabags for £20 (RM103), facial oil
designers have been expressing containing CBD (RM540) – an active
themselves creatively and SHEIN Moss follows celebrities such as US ingredient in cannabis – and perfume
has taken notice. actress Gwyneth Paltrow who has with essential oils (RM618).
forged a second career marketing
Lokal designers have been wellness products on her Goop Moss recommends using the
doing Malaysia proud, bagging the website. products in combination in “rituals”
most awards among all South-East that “balance body and soul with the
Asians taking part in the SHEIN X With her sculpted cheekbones, natural environment and the circadian
100K Challenge in 2021. grungy style and famous boyfriends cycles”.
including US actor Johnny Depp and
Fashion designer Li Wen won British musician Pete Doherty, Moss Cosmoss is not Moss’s first venture
the Most Creative Award for her epitomised the 1990s-era fashion into personal branding.
notable use of colour contrast and scene and its hard-partying lifestyle.
loud prints, while Brian Khoo won She designed a line of clothing for
the Voter Choice Award. Their But in an interview on BBC radio’s teen fashion chain Topshop – which
collections have gone on to be sold Desert Island Discs in July, Moss said closed its physical stores during the
on SHEIN. that she now prefers trips to the pandemic – and gave her name to
garden centre and meditation to lipsticks by Rimmel.
It is often difficult for designers clubbing, and is “not into being out of
to translate their designs from control anymore”. In 2016 she launched a talent
paper to actual clothing. Even agency, Kate Moss Agency, signing
more challenging is bringing the Vogue magazine reported that her own daughter, Lila Moss, as well as
clothes to the global audience. Moss, 48, spent two-and-a-half years other offspring of stars such as Ella
developing the products Richards (granddaughter of Keith) and
SHEIN offers emerging for her new artistes such as Rita Ora.
designers the chance to showcase brand.
their creations to the global market In May, Moss testified at former
worldwide. SHEIN works closely boyfriend Depp’s defamation trial
with designers, guiding them from against his ex-wife Amber Heard.
inception to sampling, production,
and distribution. The model said that reports
that Depp once threw her
Digital creator, actress,
producer, model, and television down a flight of stairs were
host Yaya Zahir is a former reality untrue. – ETX Studio
TV star. She is another Malaysian
designer who has previously Carson Wong, Laven.L, Valerie of the work of lokal designers and Model Kate Moss
collaborated with SHEIN, Hsin, AIYMY, JewelSum, creators. arrives for the 2022
launching the SHEIN X YAYA ZUUSAHA, and Season Lye have
ZAHIR collection which features a come onboard the SHEIN X “It’s very gratifying to see an Met Gala at the
range of quirky and colourful programme. international brand give Metropolitan
statement pieces with a touch of recognition to Malaysian fashion
edginess. Miriam Omar was the only designers,” says SHEIN X 100K Museum of Art on
Southeast Asian designer selected Challenge Most Creative Award May 2, 2022, in
“SHEIN really believes in the for the #SHEINforall winner Li Wen. “Hopefully, this
creativity of Malaysian designers Spring/Summer Virtual Runway inspires more Malaysians to get New York. – AFP
and I’m very grateful that they’re Show in 2022, affirming the quality into fashion design.”
now highlighting our work,” shares of fashion designers emerging
Yaya Zahir. from Malaysia. From now to Sept 13, the work
of the 12 homegrown Malaysian
“I’m happy for this opportunity The stylish output of this designers will be part of its 9.9
to finally showcase my designs to talented group of designers Mega Sale event.
everyone.” demonstrates SHEIN’s presence in
Malaysia and SHEIN’s full support For more information, visit
To date, 12 homegrown my.shein.com.
Malaysian designers including
Miriam Omar, Sherwan Rozan,

FEATURE

19theSun LYFE ON THURSDAY | SEPTEMBER 8, 2022

█ BY THASHINE SELVAKUMARAN Tips for a healthier The relationships of a healthy mind are
relationship called loving relationships. – 123RF
HEALTHY relationships
have been proven to boost o Here are some tips to build a more rewarding Valentine’s Day, and other holidays
our health, and lower our relationship with your partner are nice, they may not be as
stress levels. According to important as engaging in smaller
studies, those who have good Relationships sail over deeds on a regular basis. The most
relationships are happier and have ups and downs through essential thing you can do for your
less stress. All romantic relationships working on promises relationship is to respond favourably
have ups and downs, and they all and your partner’s to your spouse in ordinary activities
require effort, dedication, and an openness to adapt and such as checking in with your partner
ability to adapt and evolve alongside adjust. – 123RF during the day or picking up flowers
your partner. However, whether your on your way home. Showing them
relationship is new or has been going Don’t be afraid to that you care every day is the only
on for a while, there are steps to it. express your emotional way to maintain a solid connection
0 Open communication and physical desires to with your spouse and, eventually, a
Partners in healthy relationships your partner. – FREEPIK healthy relationship.
typically discuss what is going on in 0 Create a weekly ritual to check in
their life, including their completely comfortable stating such you not to hang out with your pals or with each other
accomplishments, disappointments, limits and knowing that they will be demanding you to share passwords, It might be brief or lengthy, but it
and everything in between. You respected by your spouse, and vice it’s time to reconsider your always starts with asking each other
should feel comfortable discussing versa. If you just want to hang out relationship. what worked and what didn’t work
any difficulties that arise, from little three times a week, that’s great; if you 0 Small things can make a big the previous week, and what can be
ones such as job or friend stress to want to wait a while before being impact done to better things this week. Use
more significant issues such as personal, that’s also fine. Remember Although huge gestures on special this time to get some alone time with
mental health symptoms or money that setting personal limits in any occasions such as birthdays, your partner, arrange a date night,
problems. Even if they disagree, they relationship should not make you and speak about what you want to
listen without judgement and then apprehensive or afraid. And if you see happen in your relationship in
give their point of view. believe your partner or friend is using the next days, weeks, and months.
Communication is two-way. It’s also limits to control you, such as asking Unfulfilled desires and resentments
critical that you believe they will might accumulate if a temperature
express their own problems or ideas check is not made on purpose.
when they arise. People in 0 Be honest to each other
partnerships may appreciate When considering how to establish a
emotional check-ins and regular healthy relationship, honesty is
communication about what’s going essential. That includes being
on with other partners even more. honest, loyal and in yourself, traits
0 Be prepared for ups and downs which are essential for forward-
It is indeed critical to remember that thinking conflict resolution in your
every relationship has ups and relationship. When faced with
downs. You will not always be on the disappointment, suffering, or
same wavelength. Sometimes one surprise, it is critical to be honest and
spouse is dealing with a stressful fearless. Even the most intense
circumstance, such as losing partnerships have tragic times. When
someone close. disagreements arise, do not avoid
them. Face them openly and boldly,
Other situations, such as a job loss certain that you and your spouse are
or serious health difficulties, can up to the task.
have an impact on both couples and 0 Being able to apologise
make it harder to relate to one Acknowledging when you are wrong
another. You may have different and apologising is a valuable ability
views about how to manage your to have, and it may assist to build
finances or raise your children. relationships. Whether you intended
0 Keep physical intimacy alive to harm your spouse or not,
Physical touch may improve the
warmth and love in your apologising is a
relationship. Physical closeness can means to show
help your body produce more another person
oxytocin, a hormone that promotes that you
bonding and connection. Remember recognise what
that sex is not the only way to you did was
experience physical connection. wrong. What has
occurred, being
Intimacy is more than simply able to express
physical contact, and it isn’t your regret and
necessarily about big moments. True move on allows
closeness may also be found in the both of you to let
smallest of ordinary situations. go of any
Hugging, holding hands, and kissing animosity or
are all part of this strategy. At the end unpleasant
of the day it’s all about keeping the sentiments.
fire burning.
0 Boundaries Making an
We all have personal boundaries apology
when it comes to what makes us feel strengthens your
good, secure, safe, and so on. In a relationship with
healthy relationship, you should feel the other person. It demonstrates
that you are concerned about their
Being open with sentiments and are aware that you
your partner have caused them pain.
invites them to Most importantly, be true to
be equally open yourself. Being real is much easier
with you. – and more enjoyable than pretending
123RF to be something or someone else.
Healthy individuals form healthy
relationships.

MEDIA & MARKETING FOLLOW ON TWITTER SCAN
ME
20 theSun LYFE ON THURSDAY | SEPTEMBER 8, 2022 @thesundaily

AS part of its CSR initiative, pocket money for secondary
Sharp Electronics students from RM2 to RM4.
(Malaysia) Sdn Bhd (Sharp The MOE has worked with
Malaysia) will provide two JAKOA and shortlisted Sekolah
schools in Perak with its Smart Kebangsaan Jernang and Sekolah
Classroom Solution to two Orang Kebangsaan Pos Bersih for this
Asli primary schools. In initiative. As part of its CSR
collaboration with the Ministry of initiative, Sharp will provide two
Education (MOE), Sharp Malaysia schools in Perak with its Smart
aims to provide a comprehensive Classroom Solution to enable online
learning environment for teaching and hybrid learning while
indigenous students. simultaneously increasing the
The donation handover school attendance rate in the midst
ceremony was officiated by YB Dato’ of an endemic. These schools are
Dr Mah Hang Soon, Deputy among the pioneers to receive the
Minister of Education, and Smart Classroom Solution. Beyond
participated by Hamedan Aziz, that, Sharp Malaysia is also ready to
Principal of Sekolah Kebangsaan equip teachers to embrace digital
Jernang, and Irene Tiew, Finance classroom learning through its
Director of Sharp Malaysia. Smart Classroom Solution training
Perak has been identified as one programmes, as part of the effort to
of the states that have a significant elevate the standard of teaching by
population of approximately 61,225 preparing teachers with the
indigenous people. In recent years, knowledge and training.
low participation of the Orang Asli The Smart Classroom Solution
students can be seen in the consists of an AQUOS TOUCH TV –
education system. Most of the Orang For a smarter classroomThe handover ceremony of Sharp’s CSR contribution to the Sekolah Kebangsaan Jernang. an interactive touch screen for
Asli receive formal education only at o Sharp Malaysia’s new venture aims to provide a teaching which is designed and
the primary level. However, there is comprehensive learning environment for indigenous students manufactured in Malaysia. Sharp
a significant trend where the also has its expertise and service
majority of students who completed A teacher conducting lesson using a Smart TV. team here ready to provide
their primary education will drop aftersales services for the AQUOS
out of secondary school. They are TOUCH TV. Other than that, Sharp
falling far behind other Malaysians is also offering Dynabook laptop for
in getting educated. a complete video conferencing
To address the challenges, the system, along with a camera and
Malaysian government has built-in microphone. The new
allocated a budget to the Orang Asli interactive way is able to create an
community to raise their standard of atmosphere for students to learn
living through subsidies, school aid, interactively and innovatively to get
and welfare assistance. With its the students to be future-ready. As
technological resources and know- part of the advanced technology,
how, Sharp Malaysia strives to lend teachers can take advantage of the
a helping hand to attract students’ equipment to conduct more
interest back to school and provide a effective teaching sessions while
better learning environment across students can learn in an enjoyable
the Orang Asli community. The environment through the ICT
collaboration with MOE and JAKOA equipment.
aims to improve the academic Over 200 students and teachers
achievement and attendance rate of in Sekolah Kebangsaan Jernang and
Orang Asli students, as well as to over 170 students and teachers from
reach the unreached by digitally Sekolah Kebangsaan Pos Bersih will
enabling those in rural areas. benefit from the Smart Classroom
The government has emphasised Solution. The solution is aligned
the social welfare of the Orang Asli with the Orang Asli Education
from the economic aspect, Transformation programme
development, and education using towards expanding the digitalisation
different initiatives. From the and Information and
education aspect, the government Communication Technology (ICT)
has launched a program Service in schools nationwide. Giving this
Learning Malaysia - University For opportunity to the Orang Asli would
Society (SULAM) to increase the benefit the students to get quality
provision for the purpose of and relevant education, which is in
transporting the Orang Asli children line with the Malaysian Education
to school and increasing their Blueprint 2013-2025.

Building a more inclusive sustainable future

IT has become increasingly evident Santharuban Thurai Sundaram, “The collaboration between
that pollution is now one of the major Chief Executive Officer of Etika Group KPDNHEP and corporate entity
issues impacting the environment of Companies (Malaysia, Singapore Hiroyuki-Etika is in line with the spirit
and many corporations have come and Brunei) shared that the company of ‘collaborative government’ in an
forward to provide solutions in the prioritises sustainability and strives effort to foster consumer awareness
hopes of making a significant for a better living quality for the through consumer clubs in schools
difference, with one of them being present and future generations which and the Student Consumer
recycling. Holding tight to that are in line with their mission to create Movement in higher education
objective, Etika Group of Companies new ways of enriching lives. institutions across the country,
(Etika), one of Malaysia’s leading “Since Etika and Hiroyuki both especially in the Klang Valley,” said
halal beverage manufacturers, joined share similar sustainable Yang Berhormat.
hands with Hiroyuki Industries (M) development goals, we are certain
Sdn Bhd, a Japanese manufacturer of that this collaboration would lay a To further encourage recycling
high quality Polypropylene (PP) & solid foundation in preserving the and make a positive impact on
Polyester (PET) Bands to launch its environment. Through our initiative, Mother Nature, Etika and Hiroyuki
Lets Rescue PET Bottles campaign we hope to decrease the collaborated with 270 schools in YB Dato Sri Alexander Nanta Linggi (third from left) officiating the launch of the
during the 3-day Program Kempen consumption of virgin crude oil, Klang Valley to participate in an Lets Rescue PET Bottles campaign.
Kepenggunaan organised by the natural gas, carbon dioxide exciting competition; apart from
Ministry of Domestic Trade and emissions, as well as divert plastic collecting the most cleaned bottles, Additionally, the top five schools journey and we hope this programme
Consumer Affairs (KPDNHEP) at waste from the environment and students of the participating schools will also have the opportunity to visit will not just benefit the environment
MyTown Kuala Lumpur. create a sustainable circular are also required to submit a digital Hiroyuki Industries’ factory in Johor but also educate our future
economy,” said Santharuban. poster themed PET Bottle Recycle Bahru to understand deeper about generation to turn this into a daily
A highly collaborative initiative Yang Berhormat Dato Sri and an E-Book that explains the the value of recycling and waste practice in adapting sustainable
launched by Yang Berhormat Dato Sri Alexander Nanta Linggi added that importance of caring for the management while getting a firsthand living,” Santharuban concluded.
Alexander Nanta Linggi, Minister of this programme emphasises the role environment. Participating schools experience of how the company Etika encourages all schools and
Domestic Trade and Consumer of consumers in solid waste will also receive RM0.50 per manufactures its products. These higher education institutions in Klang
Affairs, this one-year recycling management and the importance of kilogramme each month for the PET winners will be announced in Valley to participate in making a
programme (from September 2022 - the recycling process in resource and bottles collected. September 2023. positive environmental change by
August 2023) was implemented to environmental management, registering via
establish a better and healthier coinciding with the goals outlined The top three schools with the “Small acts of consideration can go forms.gle/QPS4K2Lqv672SAU98.
environment by collecting and under KPDNHEP’s consumer greatest collection of PET bottles will a long way and help protect the For more information on Etika and
recycling post-consumer PET bottles empowerment and the Sustainable be receiving the following prizes: environment, hence it’s crucial to its sustainability efforts, please visit
to give them a second life in Development Goals (SDG). 0 First prize winner: RM5,000 instill these green habits from an early www.etikaholdings.com.
becoming a reusable material. 0 Second prize winner: RM3,000 age. Sustainability is a continuous
0 Third place winner: RM2,000

22 theSUN ON THURSDAY | SEPTEMBER 8, 2022

SPORTS

Heavyweights headlines Europa line-up
PREMIER LEAGUE heavyweights
Manchester United and Arsenal begin as United, Arsenal lead contenders as Roma look to return to winning ways
the leading contenders for this season’s
Europa League, although Jose Mourinho’s the priority for both, although winning Europe’s Real Sociedad, who finished sixth in La Liga Bodo/Glimt and FC Zurich in Group A.
Roma are eyeing back-to-back continental titles second-tier trophy is one way of getting there. last season, will come to Old Trafford for their Roma are an intriguing prospect as they look to
after claiming the inaugural Europa Conference opening game with a 36-year-old David Silva in
League earlier this year. Eintracht Frankfurt were the surprise victors tow but without Alexander Isak following the follow up their Conference League victory by
last season, beating Rangers in a breathless final in Swedish striker’s departure for Newcastle United. winning a competition that Mourinho has got his
It is a long road to this season’s final at the Seville, and it is notable that the last four winners hands on twice before, including with United in
Puskas Arena in Budapest on May 31, 2023, with of the trophy all began the campaign in the Europa Europa League winners in 2017 and runners- 2017.
clubs facing a packed schedule in order to League group stage, rather than dropping out of up in 2021, United will not fear their other
complete the group stage before the World Cup in the Champions League. opponents, even if perennial Moldovan Among their group-stage opponents will be
Qatar starts on Nov 20. champions Sheriff beat Real Madrid away in last Manuel Pellegrini Real Betis. Roma’s city rivals
The last club to fall out of Europe’s elite club season’s Champions League. Lazio or Monaco, might also enter the Europa
That means the likes of United and Arsenal will competition and go on to win the Europa League League with ambitions of winning the trophy.
be relying on their squad depth to get them was Atletico Madrid in 2018. Arsenal have landed in a Champions League
through some of their less glamorous Friday group in the sense that all three opponents This season’s competition will also feature
fixtures while they try to maintain challenges at Erik ten Hag’s United should not face too many dropped out of the qualifying rounds of that Dynamo Kyiv, who are set to play home matches
the top of the Premier League. obstacles in advancing from Group E up against competition. But none of them will strike fear into against Rennes, Fenerbahce and AEK Larnaca in
Returning to the Champions League has to be Real Sociedad, Sheriff Tiraspol and Neil Lennon’s Mikel Arteta’s side. They will face PSV Eindhoven, Group B in the Polish city of Krakow as war
Omonia Nicosia. continues to rage in their home country.

5517/2022 07/09/2022 (WED) Kyrgios devastated Meanwhile, leading contenders to succeed
after US Open exit Roma as Europa Conference League winners
include Villarreal and West Ham United. For
Ballkani, champions of Kosovo, and FC Vaduz
just being there is a remarkable achievement. –
AFP

3787 DrawDate:07/09/22(Wed) DrawNo:5464/22 Venue: PERAK TURF CLUB
4209
2952

9853 9374 4161 0407 8149
6717 4076 0615 9916
9443 5304 3756 6995 5296
7249 9129 7255 5268
1061 0990 6836 4908 9112

3787 4209 15,578,810.46 0869 + 2577 5565 + 0869
3787 2952 4209 3787 2818 + 3185 0109 + 4002
4209 2952 2952 3787 0003 + 7528 2894 + 9119
2952 4209 5517 + 4150 3026 + 0388
158,530.46 1075 + 6674 4638 + 0239

Nick Kyrgios reacts to a point against Karen Khachanov (not pictured) during their
men’s singles quarterfinal match in New York yesterday. – AFPPIX

NICK KYRGIOS said winning is the only Wimbledon finalist Kyrgios had RM25,440,637.10
thing that matters at a Grand Slam and knocked out world No. 1 Daniil
3787 that he was “devastated” by his five-set Medvedev in the previous round but 8149 + 5296 5296 + 8149
loss to Karen Khachanov in the US Open the 27-year-old said lifting the trophy 8149 + 9112 9112 + 8149
4209 quarterfinals yesterday. was all that mattered. 5296 + 9112 9112 + 5296
2952
HORSE The Australian went toe-to-toe with “All people remember at a Grand RM528,637.90
Khachanov but did not do enough to Slam, whether you win or you lose,” he
counter the Russian’s punishing serve as said. 278 149 + BOAR RM2,323,333.30
he fell 7-5, 4-6, 7-5, 6-7(3), 6-4 to end his
00685 bid for a maiden Grand Slam title. “I think pretty much every other 105 296 + BOAR RM361,666.60
0685 tournament during the year is a waste
29450 685 “I’m just devastated obviously,” of time really. You should just run up 769 112 + DRAGON RM1,880,000.00
16737 85 Kyrgios told reporters and show up at a Grand Slam. That’s
what you’re remembered by.”
721647 “Just feel like it was either winning it 070 869 062 577 445 565 140 869
all or nothing at all, to be honest. I feel Sent packing at the final major of the 032 818 943 185 770 109 294 002
72164 21647 like I’ve just failed at this event right year, Kyrgios said it will be an agonizing 940 003 757 528 272 894 839 119
7216 1647 now.” wait until the Australian Open kicks of 845 517 374 150 033 026 600 388
721 647 the Grand Slam season next year. 071 075 846 674 254 638 210 239
72 47 Kyrgios said Khachanov, who saved
seven of the nine break points he faced, “It’s just like you got to start it all
was the better player in the biggest again… It’s just devastating,” he said.
moments as the 27th seed punched his
ticket to a Grand Slam semifinal for the “It’s heartbreaking. Not just for me,
first time. but for everyone that I know that wants
me to win.” – Reuters

23 25 39 46 57 58 BRIEFS the two women have met at the US Open in 149 296 112
30,605,310.22 Garcia ready to lock horns 2019 and at the Australian Open in 2020,
with Jabeur Jabeur winning on both occasions. RM770,811.10
10 23 30 31 34 43 149 + 296 + 112 296 + 112 + 149
3,473,602.79 CAROLINE GARCIA is relishing the oppor- Sublime Ruud reach 149 + 112 + 296 112 + 149 + 296
tunity to end a six-match losing streak US Open semis 296 + 149 + 112 112 + 296 + 149
10 23 29 36 48 50 44 stretching back to junior level when she
4,452,566.66 faces Ons Jabeur in the semifinals of the US IN-FORM fifth seed Casper Ruud pushed HSSB1+3DJ1 RM3,356,987 &
100,000.00 Open Friday.The in-form Frenchwoman past Italian Matteo Berrettini 6-1, 6-4, 7-6(4) HSSB1+3DJ2 RM239,226 won on
advanced to the last four of a Grand Slam for to reach the US Open semifinal yesterday.
Toto 4D Jackpot 2 the first time yesterday with a comprehen- The French Open runner-up beat Berrettini 6/9/22
sive 6-3, 6-4 victory over 12th-seeded on clay in July’s Gstaad final and looked just
RM349,857 American teenager Coco Gauff at the Arthur as effective on the hard court, hanging back
Toto 4D Jackpot 2 (i-System) Ashe Stadium.The win leaves 17th seed behind the baseline to absorb the 13th
RM46,305 Garcia facing a familiar foe in the shape of seed’s power.“Everything sort of went in my
Tunisia’s fifth seed Jabeur in the semifinals. favour. I was hitting all the spots, all the
won on 06/09/2022 ! “It was really a challenge for me to play her shots that I needed to. Matteo was maybe
in juniors,”Garcia said.“She was a rare kind of not showing the level he typically does,”said
style. A few times she stopped me on my Ruud.“That was (a) better start than I ever
way to get a Slam in juniors. It’s fun to see had before in a match,”Ruud added.
two players again in the semifinals in the US “Sometimes you can get a little overexcited
Open.”Jabeur’s winning record over Garcia and think you can walk on water,”he said. He
in juniors includes victories at the French and third seed Carlos Alcaraz have a chance
Open, Wimbledon and US Opens. As seniors at seizing the world No. 1 ranking at
Flushing Meadows.

23theSUN ON THURSDAY | SEPTEMBER 8, 2022

* SPORTS

YLIAN MBAPPE played chief tormentor
as Paris St Germain started their
Champions League campaign by beating

K Lethal MbappeJuventus2-1athomeyesterday,theirfirst
victory against the Italian side.
Mbappe opened the scoring with a stunning
goal and added a second in the opening half PSG claim first win against Juventus but face backlash over train travel option
before substitute Weston McKennie reduced the
arrears after the break as the French champions’
level went down a notch. The heavy smoke from the pre-game many goals as in their first five Serie A on social media.
Juve had chances to equalise but keeper flares and firecrackers was still in the air games. “We had a chat with our travel organisers
Gianluigi Donnarumma made several good saves when PSG took the lead in stunning fashion, What should have been a 3-0 turned into earlier to see if we can travel by sand-yacht,”
to make up for a blunder for the visitors’ goal, as Mbappe volleyed home from Neymar’s 2-1 when McKennie headed home from Galtier replied sarcastically, referring to sail-
ensuring PSG beat the Italian side for the first time brilliant flick over the Juve defence after five Filip Kostic’s cross, benefiting from powered beach buggies that are popular on some
in nine meetings, having lost the last six. minutes. Donnarumma’s ill-timed intervention, as French beaches.
Christophe Galtier’s team are level on three Juve struggled to handle PSG on the left the keeper came out but got nowhere near But Galtier later apologised for mocking a
points in Group H with Benfica, who beat Maccabi flank but had a chance in the 18th minute the ball, leaving the goal unguarded. question about his club’s decision to travel to a
Haifa 2-0. when Donnarumma denied Arkadiusz PSG yesterday faced accusations of game by private jet, saying he had made “a joke in
“We had a great first half, with big moments. We Milik with a superb save. failing to take climate change seriously, after bad taste”.
scored two beautiful goals and played as a PSG, however, doubled their advantage Galtier and Mbappe mocked a suggestion “Believe me when I say I am concerned about
compact team,” said Galtier, leaving his Juve four minutes later, with Mbappe finishing that they should take the train rather than climate change and about our planet. I am aware
counterpart Massimiliano Allegri with regrets. from just inside the area after a quick one- private planes for short-haul travel. of the responsibility we have,” Galtier told Canal
“We were too timid in the first half and it’s not two with Achraf Hakimi for his eighth goal in Galtier initially smirked at the idea while Plus after the match.
easy to recover from such a start against such a top his last seven Champions League matches. Mbappe bent double in laughter over the “It was a badly timed joke in bad taste and I
team,” the Italian said. In just 22 minutes, Juve had conceded as suggestion – with the clip quickly going viral regret it. It wasn’t the right time.
“It was a poor quality joke at a bad moment,” he
Haaland double fires City in Sevilla rout added, insisting that PSG are “aware of the
importance of climate change issues”. –
AFP/Reuters

PEP GUARDIOLA says the However, Guardiola insisted City “He scored two in the centre and had
“incredible” Erling Haaland will be still have not learned the best way to chances for two or three more. We have
even more deadly once play with Haaland because they incredible numbers scoring goals and we
Manchester City adapt to the sometimes try to involve him too want to continue like that.”
Norway striker after his double quickly.
inspired a 4-0 rout of Sevilla in City’s stroll in southern Spain
yesterday’s Champions League “We made not was just what the Premier
opener. a good first half. League champions needed
after the frustration of
Haaland’s latest display of his sublime We wanted Saturday’s draw at Aston Villa.
predatory instincts ensured City started their to attack too
Group G campaign in emphatic fashion at quick. Pitted in a group also
the Ramon Sanchez Pizjuan Stadium. Sometimes we featuring Dortmund and FC
want to rush so
The 22-year-old put City ahead in the first quick because Copenhagen, City will
half and he netted again after the interval as Erling is there,” expect to qualify
Phil Foden and Ruben Dias also scored. Guardiola said. comfortably if
Haaland continues
Guardiola this week insisted City cannot “You have this this kind of form.
pin all their Champions League hopes on attraction of him, But only
Haaland. we want to attack winning the
it sometimes. We Champions
But he has made an incredible start to his have to be more League for
City career following his move from Borussia patient. the first time
Dortmund, scoring 12 goals in just seven will make
games in all competitions. “I didn’t say I City’s season a
don’t prefer to have complete
Haaland has scored 25 times in 20 him! I think his success after
Champions League games, a tally that now numbers in all his so many years
includes goals on his debuts in the career are quite of painful
competition for City, Dortmund and Red Bull similar. He has failure in the
Salzburg. an incredible competition.
sense of – Reuters
RESULTS & STANDINGS goal.

CHAMPIONS LEAGUE Manchester City’s Erling Haaland
Group E: Dinamo Zagreb 1 (Orsic 13) (left) in action with Sevilla’s
Chelsea 0, Red Bull Salzburg 1 Tanguy Nianzou. – REUTERS
(Okafor 28) AC Milan 1 (Saelamaekers
40).

D. Zagreb PWD L F A Pts Leipzig boss Tedesco on thin ice
Milan 1 1 0 01 03 after Shakhtar defeat
Salzburg 1 0 1 01 11
Chelsea 1 0 1 01 11
1 0 0 10 10

Group F: Celtic 0 Real Madrid (ESP) 3 RB LEIPZIG coach Domenico Tedesco was “It kind of reflects much of what we have
(Vinicius 56, Modric 60, Hazard 77), RB hailed as a saviour when he carried them from gone through in the past weeks.”
Leipzig 1 (Simakan 57) Shakhtar midtable to a Champions League spot last
Donetsk 4 (Shved 16, 58, Mudryk 76, season and then crowned the run with victory A mistake by keeper Peter Gulacsi gifted
Traore 85). in the German Cup for their first major title. Shakhtar the lead, and while Leipzig levelled in
the second half the Ukrainians only needed a
P W D L F A Pts Just a few months later, however, the 36- few seconds to go 2-1 up.
Real Madrid 11003 0 3 year-old’s position is far more precarious,
S. Donetsk 11004 1 3 especially after yesterday’s stunning 4-1 home Two more goals late on finished off the
Leipzig 10011 4 0 loss to Shakhtar Donetsk in Europe’s elite club Germans, who play Real Madrid next week.
Celtic 10010 3 0 competition.
First though they face Borussia Dortmund,
Group G: Borussia Dortmund 3 Tedesco took over midway through last joint leaders with Freiburg, in the Bundesliga
(Reus 35, Guerreiro 42, Bellingham 83) season and took them from 11th to a fourth- on Saturday and Tedesco said he would not
FC Copenhagen 0, Sevilla 0 place finish, but despite the addition of top waste any time thinking about his own
Manchester City 4 (Haaland 20, 67, striker Timo Werner they have won just one of position.
Foden 58, Dias 90+2). their five league games this season and are
sitting 11th once again. “I am not thinking about it at all,” he said. “I
P W D L F A Pts am just disappointed after such a game.
Man City 1 1 0 0 4 0 3 They slumped to a 4-0 defeat to Eintracht
Dortmund 1 1 0 0 3 0 3 Frankfurt in the league last week and their “I am not thinking about all the other
Sevilla 10010 4 0 European flop against the Ukrainians only things around it. It will be a different day
Copenhagen 1 0 0 1 0 3 0 added to Tedesco’s woes. tomorrow and we will start focusing on
Dortmund.”
Group H: Paris Saint-Germain 2 There has been no sign of their fluid,
(Mbappe 5, 22) Juventus 1 (McKennie attacking style of play, while at the back they In other matches, Borussia Dortmund
53), Benfica 2 (Silva 50, Grimaldo 54) have coughed up eight goals in their last two cruised to a 3-0 victory over FC Copenhagen in
Maccabi Haifa 0. games. Group G with the Germans playing in front of a
rare capacity 81,000 crowd for a European
PSG P W D L F A Pts “It is really hard to find the right words for match while AC Milan midfielder Alexis
Benfica 11002 1 3 this after such a game, it’s difficult to describe Saelemaekers earned the Serie A title holders a
11002 0 3 it,”Tedesco said. 1-1 draw at Austrian side Salzburg in Group E.
Juventus 1 0 0 1 1 2 0 – Reuters
M. Haifa 10010 2 0

THURSDAY • SEPTEMBER 8, 2022 QUOTE OF THE DAY

Tuchel I’m just devastated obviously... Just
feel like it was either winning it all or
nothing at all, to be honest. I feel like I’ve just
failed at this event right now…It’s just devastat-
ing.. Not just for me, but for everyone that I know
that wants me to win.”

Nick Kyrgios

sacked
Potter, Pochettino and Zidane early contenders to be Chelsea’s next manager

█ JAMIE BRAIDWOOD time here.” £4.25 billion (RM21.6b) for a Tottenham, could fit with the Tuchel’s first season.
The news comes as a major shock sports franchise to buy Chelsea ownership’s long- DIEGO SIMEONE
CHELSEA sacked manager Chelsea from Russian term plan of developing
Thomas Tuchel following the around the Premier League, with billionaire Roman young talent. One of Europe’s most respected
club’s 1-0 defeat yesterday to Tuchel leading Chelsea to the Abramovich in May. ZINEDINE ZIDANE coaches, who would bring a distinctive
Dinamo Zagreb in the Champions League title a little over a The former Real style, Simeone has led Atletico Madrid
Champions League. year ago. The ambitious US Madrid manager was to two La Liga titles and took the club
magnates are in the linked with the PSG job to the verge of Champions League
A statement from the club read: “As Tuchel will leave big shoes process of overhauling following Pochetttino’s glory.
the new ownership group reaches 100 to fill, as well as a squad departure and has still
days since taking over the club, and as that saw over £250 the club and have not taken up a role There are signs that his time with
it continues its hard work to take the million (RM1.35b) acted quickly to Atletico has peaked, however, and he
club forward, the new owners believe of investment unseat Tuchel. elsewhere after leaving the was linked with Manchester United
it is the right time to make this during the transfer Chelsea said they Bernabeu at the end of his second job last year. This would be a difficult
transition.” window. will move swiftly to spell in 2021. appointment and may not be what
Zidane has one of the most Chelsea want.
The former Borussia Dortmund To d d appoint a new coach, but who impressive managerial CVs around MARCELO BIELSA
and Paris Saint-Germain boss, 49, Boehly’s could replace Tuchel at Stamford after winning three Champions
leaves Stamford Bridge after less than consortium paid Bridge? League titles in a row at Real Madrid, Loved by Leeds fans after taking the
20 months in charge. a world-record GRAHAM POTTER but Chelsea may want a project club back to the Premier League and
fee of The Brighton manager will be manager. widely viewed as one of modern
“On behalf of everyone at Chelsea among the favourites after the club’s BRENDAN RODGERS football’s most influential coaches,
FC, the club would like to place on good start to the season. Potter has The Leicester manager was a Bielsa could rediscover his spark at
record its gratitude to Thomas and his candidate to replace Frank Lampard Stamford Bridge after his project at
staff for all their efforts during their caught the eye with Brighton’s before Tuchel’s appointment early in Elland Road lost legs.
time with the club,” the statement said. style of play and is regarded as 2021 and appears unhappy at the King JOSE MOURINHO
an impressive young coach, Power after the club’s poor transfer
“Thomas will rightly have a place but the Chelsea job would be a window. Sacked by Chelsea midway through
in Chelsea’s history after winning significant step up. Even though Leicester are bottom the 2015-16 season, as the club’s title
the Champions League, the Super MAURICIO POCHETTINO of the Premier League, Rodgers – who defence spectacularly imploded,
Cup and Club World Cup in his The former Tottenham is a former Chelsea coach – remains Mourinho is still a club legend . Could
manager was sacked by Paris highly regarded and the Foxes beat a third spell at Chelsea happen? Never
Saint-Germain at the end of last Chelsea to win the FA Cup during rule anything out at Stamford Bridge.
season and is without a club.
His record of improving players, The Independent
showcased during his time at

Celtic get Champions League
lesson from Real masters

Real Madrid’s Aurelien CARLO ANCELOTTI praised Real Ancelotti, who had not won in his Casemiro.
Tchouameni (left) in Madrid’s resilience to deliver a three previous visits to Celtic Park as But Los Blancos were forced into a
action with Celtic’s Matt AC Milan manager.
O’Riley. – REUTERSPIX second half “masterclass” in change after half an hour when
winning 3-0 at Celtic to start their “Against this team, in this Benzema hobbled off with a knee
Champions League defence after atmosphere, especially in the first injury to be replaced by Hazard.
half we suffered.
a difficult first 45 minutes in “We will have to wait for the tests
which they lost Karim Benzema “In the second half we played tomorrow, but the first impressions
to injury. very, very well. I am very satisfied. by our medical staff are that it is not
Games don’t always go as you want, something serious,” Ancelotti told
The Frenchman limped off but this team knows how to suffer in Movistar Plus about Benzema.
with a knee problem after the bad moments. The second half
Celtic captain Callum was a masterclass.” Vinicius had a chance for Real on
the counter right before the break
McGregor had struck the Celtic had begun the night with a that Joe Hart denied with a fine
post with the best effort of perfect record this season, including stop. They also lost defender Eder
the first period. a 4-0 demolition of local rivals and Militao to injury at halftime.
Europa League finalists Rangers on
In Benzema’s absence, Saturday. Celtic again made a fast start to
Vincius Junior stepped the second half and substitute
up to open the But in their first Champions Daizen Maeda wasted a golden
League group match for five years, opportunity when he received a
floodgates with a Ange Postecoglou’s men were given perfect cross inside the penalty area
classy finish 11 a harsh lesson of the need to take but misfired a close-range shot with
minutes into the their chances in the step up to the the goal wide open.
highest level in European football.
second half. As tricky as things had looked for
Luka “Up until the 60 minute mark we Real, they clinically killed the game
Modric’s were well in the game but you get off by scoring three goals with their
punished at this level if you don’t only three shots on target in the
nonchalant take their chances,” said second half.
finish quickly Postecoglou.
doubled the defending “We didn’t expect an easy game
champions’ lead before Eden “We had the chances. What we at all, they won 4-0 against Rangers,
Hazard struck to continue a learned today, we already knew that the Europa League finalist, over the
100% start to the season for we have to be clinical in both weekend. They are at a great
Ancelotti’s men. boxes.” moment as a team,” striker Toni
“Here you suffer,” said Kroos told Movistar Plus.
Ancelotti started with 10 of the
11 that began last season’s “We needed to be patient, keep
Champions League final success calm and wait for the right
over Liverpool, with €80 million opportunities to come. Our
(RM357m) signing Aurelien experience played a major role.” –
Tchouameni replacing the departed AFP/Reuters

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