The Edge - 20 September 2022

BIDEN SAYS US WOULD DEFEND TAIWAN
FROM ‘UNPRECEDENTED ATTACK’ p18

TUESDAY, SEPTEMBER 20, 2022 w w w. t h e e d g e m a r k e t s. c o m

ISSUE 446/2022

CEOMorningBrief
HOME: MARC upgrades WCT’s Segi Astana rating outlook on improved klia2 traffic p3
State-level bureaucracy, red tape, could slow down 5G rollout, says MCMC p4
Zafrul: Budget 2023 to maintain recovery momentum, prioritise sustainability p9
WORLD: Europe races to prepare for energy crunch this winter p19
Asian farmers plant to boost palm oil output, seedling shortage slows pace p21

Samchem recognised as the best under RM1 bil
at The Edge Centurion Club Awards

Report on Page 8.

GLC, GLIC THE EDGE FILE PHOTO
chiefs and judges
required to
declare assets
to MACC,
says PM

Report on Page 2.

tuesday, SEPTEMBER 20, 2022 w w w. t h e e d g e m a r k e t s. c o m

Issue 446/2022

ceoMorningBrief

TUESday SEPTEMBER 20, 2022 2 TheEdge CEO morning brief

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GLC, GLIC The prime minister said this would be PM: Implentation of
chiefs and judges implemented through the creation of a National Low Carbon
Committee on Transfer of PBT Officers, Aspiration 2040 plan
required to placed under the jurisdiction of the State will expand average
declare assets to Executive Council, and a guideline would
MACC, says PM be issued by the state authorities to allow GDP growth by
for its implementation nationwide. RM13 bil annually
Bernama
Apart from this, the JKKMAR also Bernama
KUALA LUMPUR (Sept 19): Chief exec- agreed to implement the Audit Act 1957
utive officers of government-linked com- amendments to prevent the involvement PUTRAJAYA (Sept 19): The holistic
panies (GLCs) and government-linked of the Auditor-General in activities or implementation of the National Low
investment companies (GLICs), as well committees of federal or state services, Carbon Aspiration 2040 plan is expect-
as members of the judiciary must declare but his participation is allowed in com- ed to expand gross domestic product
their assets to the Malaysian Anti-Corrup- mittees at the policy stage. growth (GDP) by RM13 billion a year
tion Commission (MACC), said Prime and generate over 207,000 jobs.
Minister Datuk Seri Ismail SabriYaakob. Ismail Sabri said the amendments by
the National Audit Department were Prime Minister Datuk Seri Ismail
The prime minister said this was de- aimed at enhancing professionalism and SabriYaakob said the aspiration under
cided by the Special Cabinet Commit- ensuring the independence of the Audi- the National Energy Policy 2022-2040
tee on Anti-Corruption (JKKMAR) at tor-General, apart from enabling him to (DTN) that was launched on Monday
its meeting on Monday (Sept 19) and audit other bodies, including companies (Sept 19) will help the country achieve
that the details on this new code of ethics with government interests, subject to his net zero gas house emissions (GHG )
would be tabled again by MACC at the discretion. in 2050, as it faces the challenges of
next meeting. energy transition and climate change.
He said the JKKMAR also agreed to
“JKKMAR also decided that the undertake a review of the direction of The aspiration has nine targets to
MACC mechanism for declaration of as- the Institute of Integrity Malaysia (IIM), be achieved by 2040, among them be-
sets by members of the administration, with the allocation of a fixed annual grant ing shared mode of public transport
Members of Parliament (MPs) and sen- through the National Centre for Govern- of 50%, use of electric vehicles (EVs)
ators would be strengthened to enhance ance, Integrity and Anti-Corruption (GI- of 38%; use of the B30 mixed fuel for
the credibility and integrity of the govern- ACC) for a three-year period from 2023 heavy vehicles as an alternative fuel, as
ment administration,” he said in a state- to implement programmes for strength- well as energy savings of 11% for in-
ment issued after chairing the meeting. ening integrity. dustry and commercial use and 10%
for residential use.
He said amendments and enhance- “IIM’s role will be strengthened based
ments to the existing Code of Ethics for on three core functions encompassing as- “The government is confident that
Members of Administration and Mem- pects of education; advocacy and train- the DTN is capable of ensuring that
bers of Parliament would be implemented ing; research and publication, as well as the energy sector is always ready to face
and a new code of ethics would be intro- strategic cooperation, apart from being future challenges.
duced for MPs in the Houses of Parlia- given a role to implement a hybrid busi-
ment (Privileges and Powers) Act 1952 ness model to boost integrity of the public “The sector is poised to open a new
(Act 347), by considering the need to and private sectors,” he added. chapter, in line with global trends that
maintain the principle of separation of have seen new sectors that are low car-
powers between the executive and legis- Ismail Sabri also said the Political bon such as the use of EVs and new
lative bodies. Funding Bill would be regulated by an energy sources such as hydrogen and
independent entity known as the Politi- bio-based energy,” the premier said at
Ismail Sabri said officers of a local gov- cal Funding Regulator at the federal and the launch of the DTN here.
ernment authority (PBT) who had served state levels. Read the full story
in a particular place for a long time could Read also: National Energy Policy signals
be transferred to another PBT to avert He said the views of all stakeholders industry players to participate in transition
risks of having elements of corruption and including political parties would be con-
power abuse, as well as avoid creating Lit- sidered before the Bill is tabled for first
tle Napoleons at the field stage. reading at the coming Dewan Rakyat
meeting.

“The government is always committed
to strengthening integrity and ensuring
transparency in the country’s governance
is enhanced from time to time, in efforts
to make Malaysia a corruption-free coun-
try,” he said.

TUESday SEPTEMBER 20, 2022 3 TheEdge CEO morning brief

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KUALA LUMPUR (Sept 19): MARC MARC upgrades “The long concession period pro-
Ratings has affirmed its rating on Segi WCT’s Segi Astana vides headroom for refinancing of the
Astana Sdn Bhd’s RM415 million Asean rating outlook on last tranche before the expiry of the pro-
Green Medium-Term Notes (MTN) fa- gramme in January 2028. Nonetheless, in
cility at A+ and revised the rating outlook improved klia2 the event the refinancing does not take
to stable, from negative. traffic place, a liquidity support undertaking from
WCT (AA-/Stable) will address the final
Segi Astana, a unit of WCT Holdings by Priyatharisiny Vasu repayment,” the rating agency said.
Bhd, is the concessionaire for the inte- theedgemarkets.com
grated complex, gateway@klia2, at Kua- This undertaking has translated into a
la Lumpur International Airport 2 (klia2). It added that against the backdrop of single notch uplift on Segi Astana’s rating.
positive recovery of passenger footfall, the
MARC said the outlook revision to occupancy level of the mall, which has a net MARC said the shareholders’ support
stable was based on improvement in Segi lettable area of 379,800 sq ft, is expected through the issuance of RPS amount-
Astana’s cashflow generation from a sharp to improve to 70% by end-2022, from the ing to RM76 million between 2021 and
uptick in mall rental receipts and carpark current 65.5%. 2022 to WCT Land, and the deferment
fees collection, following the easing of trav- of arbitration settlement payment and
el restrictions in the third quarter of 2021 “The affirmation is also underpinned fixed monthly charges (from October
(3Q2021) and the reopening of interna- by Segi Astana’s lengthy concession of 36 2020 to August 2022) totalling RM37
tional borders in 2Q2022. years that began on Aug 1, 2011. million to Malaysia Airports Holdings
Bhd (MAHB), has supported Segi As-
SegiAstana’s current outstanding amount tana’s credit profile.
under the rated facility stands at RM310
million, the rating agency said in a report. MAHB holds the remaining 30% in-
terest in Segi Astana.
It said Segi Astana’s stronger liquidity
position, which has been aided by proceeds The rating agency also noted that Segi
from the issuance of redeemable preference Astana’s monthly operating cashflows have
shares (RPS) to its 70%-shareholderWCT been positive in 2022, with rental income
Land Sdn Bhd, a wholly-owned subsidi- of RM29.6 million during the first seven
ary of WCT Holdings, has strengthened months of the year.
its ability to meet its financial obligations.
In addition, collection from carpark op-
“The rating affirmation considers the erations improved to RM2.5 million per
improved prospects for gateway@klia2 in month from RM480,000 per month in
terms of occupancy of its retail mall and 2021, said MARC, noting that fees from
carpark operations, on the back of increas- the carpark (which has 5,690 parking bays)
ing passenger footfall through klia2. accounted for about half of the mall’s rev-
enue, pre-pandemic.
“By end-July 2022, klia2 handled 5.3
million passengers compared with 0.5 mil- It added that as at end-July 2022, Segi
lion a year ago, while aircraft movements Astana had RM46 million in its designated
rose to 96,200 from 32,600 over the same accounts to meet its upcoming repayment
period,” MARC said. of RM30 million in January 2023.

KUALA LUMPUR (Sept 19): Citaglobal Citaglobal reaches BrothersTengku Uzir andTengku Zubir
Bhd said it has reached a final resolution settlement over are major shareholders of the group.Their
with Datuk William Tan Chee Keong and ‘profit guarantee’ cousin,Yang di-Pertuan Agong Al-Sultan
Choi Chee Ken by agreeing that neither suit as King raises Abdullah Ri’ayatuddin Al-Mustafa Billah
party will appeal the High Court’s decision stake in group Shah, is also a substantial shareholder in
in the RM59.21 million lawsuit relating to Citaglobal.
a profit guarantee. by Shazni Ong
theedgemarkets.com The King first emerged as a substan-
Additionally, the group agreed to tial shareholder in September 2019. He
pay Tan and Choi their solicitors’ costs order that WZS Binaraya had achieved the raised his stake to 12.44% or 132.12 mil-
of RM450,000 and awarded costs of two guarantees.The court made an award of lion shares, after acquiring 32.1 million
RM70,000. cost for RM70,000 to be paid by the group shares lastThursday (Sept 15), according
toTan and Choi for both cases. to Citaglobal’s bourse filing on Monday.
In a bourse filing on Monday (Sept 19),
Citaglobal said this agreed settlement is Citaglobal is led by its executive chair- On June 7, Citaglobal changed its name
full and final, with no admissions as to li- man and presidentTan Sri Mohamd Norza fromWZ Satu Bhd for a better representa-
ability by either party. Zakaria. Other directors of the group in- tion of its nature of business, saying it in-
clude executive vice chairmanTengku Da- tends to transform into a conglomerate
WZ Satu Bhd had filed the suit against tuk Seri UzirTengku Ubaidillah andTeng- that is involved in facilities management,
Tan and Chooi in September 2020, claim- ku Datuk Indera ZubirTengku Ubaidillah. telecommunications, energy, infrastructure
ing that its subsidiary,WZS BinaRaya Sdn and technology sectors.
Bhd, had failed to achieve the profit guar-
antee and shareholders’ fund guarantee The group’s current businesses include
given in 2014 when the subsidiary was civil engineering, oil and gas, and manu-
acquired. facturing.

On Aug 19 this year, the High Court dis- Shares of Citaglobal closed unchanged
missed the group’s claim, and allowed the at 20.5 sen on Monday, giving the group a
application byTan and Choi for a declaratory market capitalisation of RM217.6 million.

TUESDAY SEPTEMBER 20, 2022 4 THEEDGE CEO MORNING BRIEF

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KUALA LUMPUR (Sept 19): Malaysia’s State-level working with DNB — the special-purpose
5G network rollout has reached 27% as bureaucracy, red entity tasked to roll out 5G in Malaysia — to
at the second quarter of this year (2Q22), tape, could slow begin implementing in-building coverage.
but the Malaysian Communications and down 5G rollout,
Multimedia Commission (MCMC) fore- DNB has begun rolling out 5G network
sees challenges ahead at state-level rollouts says MCMC since 4Q21, and it aims to reach 37% pop-
due to red tape by local authorities. ulation coverage by the end of this year.
BY CHESTER TAY
“At the moment, there are rollout chal- theedgemarkets.com “Progress is ongoing.There was a slight
lenges. [As] Digital Nasional Bhd (DNB) [is] glitch at the beginning of the year, when there
an operator, they are not [excluded] from was shortage of materials that was affect-
facing these challenges,” said MCMC chief ing not only here [but also] throughout the
operation officer Datuk Mohd Ali Hanafi- world, and this is one of the things that DNB
ah MohdYunus in the quarterly update for is addressing,” said Mohd Ali Hanafiah.
Phase 1 of Jalinan Digital Negara (Jendela). Jendela Phase 1 updates
Mohd Ali Hanafiah said as at 2Q22,
“The initial rollout in Klang Valley, 4G population coverage has reached
Cyberjaya and Putrajaya might not be so 95.85% versus the Jendela Phase 1 tar-
much of a challenge, but now once they get of 96.9% by the end of 2022, while
go down into the states, they are actually premises passed has reached 7.2 million
[facing] similar challenges that have been versus the 7.5 million target.
faced by all other telcos.
In terms of speed, he said average speed
“Meaning dealing with local councils, has reached 47.04 megabits per second
with the states, they are [facing] bureaucracy (Mbps) as at 2Q22, surpassing the target-
issues, meeting the requirements of one-stop ed 35Mbps.
agencies and centres and so on.Whenever
they need any assistance from MCMC, we “We are in sync towards the targets for Jen-
will assist at state level,” he told reporters at dela Phase 1.We are quite confident that we
the briefing on Monday (Sept 19). can achieve these targets come 4Q22,”he said.

Mohd Ali Hanafiah said although the Read the full story
rollout of 5G is progressing, there is still
room for improvement, and MCMC is also

KUALA LUMPUR (Sept 19):The Malay- Mavcom:Take opened and as travellers took the oppor-
sian Aviation Commission (Mavcom) has heed of consumer tunity to travel abroad and domestically.
on Monday (Sept 19) advised the aviation complaints as air
industry to take heed of consumer com- For Malaysia, Saripuddin said Mavcom
plaints as air travel picks up on a Covid-19 travel picks up noted that aviation passenger traffic increased
vaccine-driven air travel recovery from the from an average of 2.9 million people be-
impact of movement restrictions due to BY DILPREET KAUR tween January and April 2022 to an average
the pandemic, which began in early 2020. theedgemarkets.com of 4.79 million between May and June 2022.

In a statement issued in conjunction Mavcom executive chairman Datuk Seri “Indeed, Malaysia’s aviation service
with the publication of the 12th issue of Saripuddin Kasim said in the statement providers should prepare by taking heed
Mavcom’s bi-annual consumer report for that global air travel saw a strong recovery of the complaints breakdown observed in
the first half of 2022 (1H22), Mavcom said in 1H22 as international borders were re- the consumer report as guidance to further
the regulator had in 1H22 received 1,251 improve service levels as well as address
complaints, of which 1,240 were related to the root cause of prevailing issues.
airlines while 11 were related to airports.
“As a proactive measure by Mavcom,
“This (1,251 complaints) illustrates an we have also been actively engaging avia-
increase of almost eight times more than tion service providers to ensure that these
the 157 complaints lodged within the cor- issues are being addressed,” he said.
responding period last year,” Mavcom said.

For 1H22, Mavcom said AirAsia re-
ceived the highest number of complaints
at 527, followed by Malaysia Airlines at
509 and Batik Air at 99.

“For every million passengers carried,
Malaysia Airlines recorded the highest
number of registered complaints with
199 complaints, followed by Batik Air
with 167 complaints and AirAsia with
95 complaints.

“Flight rescheduling, flight cancella-
tions, and online booking collectively con-
tributed to 46.1% (577) of total complaints
filed,” Mavcom said.

KYU CAIE The Edge Mx o19rnctimnUgEWBS)rdieafy se p t e m b e r 20, 2022 5 TheEdge CEO morning brief
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TUESday SEPTEMBER 20, 2022 6 TheEdge CEO morning brief

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T7 Global wins Reservoir Link products and equipment, on a “call-out”
contract worth wins second basis.
RM400 mil in contract from
It said the services include but are not
Thailand Petronas in 2022 limited to assembling and making up of
sand screen accessories as well as con-
by Surin Murugiah by Surin Murugiah ducting qualification lab testing, such as
theedgemarkets.com theedgemarkets.com a screen erosion test, tensile strength test
and mechanical properties test.
KUALA LUMPUR (Sept 19): T7 Glob- KUALA LUMPUR (Sept 19): Res-
al Bhd has secured contracts worth about ervoir Link Energy Bhd has received Reservoir Link executive director
RM400 million in Thailand. a letter of award from Petronas Cari- Thien Chiet Chai said the group has been
gali Sdn Bhd for its second contract progressing relatively well throughout
In a bourse filing on Monday (Sept 19), from Petroliam Nasional Bhd (Petro- 2022, with multiple contracts wins al-
the group said its unit Tanjung Offshore nas) this year. ready under its belt, coupled with various
Services Sdn Bhd had inked charter and new developments, including its transfer
operation and maintenance contracts with In a statement on Monday (Sept to the Main Market back in June.
Busrakham G11 Ltd for the provision of 19), the energy-related services provid-
leasing, operations and maintenance of er said the letter for its wholly-owned “Following relentless efforts of our team
a mobile offshore production unit in the subsidiary Reservoir Link Sdn Bhd is in securing major projects to ensure that
NongYao Field, Southern Gulf ofThailand. for the provision of completion of new we deliver on our promise of continuous
technology equipment and services, in- value creation, we will continue to embark
T7 said the duration of the contract is cluding Boron EaziGoFlo erosion-re- on our journey to provide unparalleled cus-
five years, with an extension of two years. sistant sand screen and related servic- tomer service to consistently deliver qual-
es, to Petronas Carigali. ity work to our clients, and better solidify
The group said the contract will contrib- our presence in the industry,” said Thien.
ute positively to its earnings for the financial Reservoir Link said that under the
periods during the duration of the project. 12-month contract, its subsidiary will Reservoir Link said the contract is ex-
provide sand screen technology and pected to contribute positively towards
At the midday break on Monday, T7 related services, including personnel, its earnings for the financial year ending
had risen 3.33% or one sen to 31 sen, with Dec 31, 2022, and throughout the con-
493,400 shares done. tract period.

At the midday break on Monday,
shares in the company had fallen 2.78%
or one sen to 35 sen, with one million
shares traded.

KUALA LUMPUR (Sept 19): Yinson Yinson marks The firm said a zero-capital arrange-
Holdings Bhd has marked its foray into the foray into ment allows businesses to install rooftop
Indonesian energy market after acquiring Indonesian photovoltaic (PV) systems with no upfront
a majority stake in turnkey solar compa- cost and benefit from reduced electricity
ny PT Ineco Solar Solutions (Inecosolar). energy market tariffs over a 15- to 20-year tenure, adding
with strategic that Inecosolar aims to pioneer the rooftop
In a statement on Monday (Sept 19), stake acquisition solar market in Indonesia with innovative
Yinson said the stake was acquired via its and competitive solutions.
renewables division Yinson Renewables by Surin Murugiah
(YR). theedgemarkets.com YR chief executive officer David Brunt
said the transaction will further buildYR’s
The company said Inecosolar is a presence and pipeline in Asia, which is one
well-established solar system provider in of its core regions of focus.
Indonesia with a track record in delivering
residential and commercial rooftop solar “Indonesia contributes approximately a
systems. quarter of Southeast Asia’s economic ac-
tivity and is expected to become a major
It said Inecosolar has delivered numer- global economy.
ous projects across Bali, Gili, East Java and
West Nusa Tenggara. “With a nascent renewable energy mar-
ket, Indonesia is poised to be a major hub
Yinson said the acquisition aims to of the energy transition,” said Brunt.
enable Inecosolar to provide all-in-one
zero-capital solutions, expand its project Meanwhile, Inecosolar founder and di-
portfolio and establish itself as an inde- rector Benoît Prim said it is important for
pendent power producer (IPP) in Indo- the firm to have a strategic partner who not
nesia and beyond. only understands energy but also shares the
same vision about how to do things different-
Yinson Renewables vice president ly and more efficiently in the current market.
of business development Marius
“Together, we are looking forward to
Kleiven (left) and Inecosolar founder delivering innovative solutions to our In-
and director Benoît Prim at the donesian customers,” Prim said.
signing of the agreement.
At the midday break, Yinson dipped
1.74% or four sen to RM2.26 with
449,300 shares done.

t U E S d a y se p t e m b e r 2 0 , 2 0 2 2 7 T h e E d g e C E O m o r n i n g b r i e f

TUESDAY SEPTEMBER 20, 2022 8 THEEDGE CEO MORNING BRIEF

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Tengku Zafrul (13th from right), Tong (15th from left), Ho (2nd from right), and The Edge Editor-in-Chief Kathy Fong (2nd from left),
with the winners of The Edge Malaysia Centurion Club Awards 2022.

Samchem recognised as the best under
RM1 bil atThe Edge Centurion Club Awards

KUALA LUMPUR (Sept 19): Integrated BY TAN CHOE CHOE through key metrics that are transpar-
chemicals and lubricants distributor Sam- theedgemarkets.com ent and based on merit.With the govern-
chem Holdings Bhd was recognised byThe ment’s enabling policies and awards such
Edge Malaysia Centurion Club Awards we surely do not want another pandemic as these, I hope to see tonight’s winners
2022 as the best overall performer among like Covid-19, the devastating disruption in The Edge’s Billion Ringgit Club some-
companies listed on Bursa Securities with to businesses has actually provided us with day,” he said.
a market capitalisation of less than RM1 the chance to see which are the compa-
billion, and named Centurion of theYear. nies who were resilient in the face of one The awards this year also saw CIMB
of the toughest periods in human history,” Group Holdings Bhd, who was a key pre-
The event, which returned on Monday said Datuk Ho Kay Tat,The Edge Media senter in the inauguralThe Edge Malaysia
(Sept 19) night after a two-year hiatus fol- Group publisher and CEO. Centurion Club Awards in 2019, returning
lowing the Covid-19 pandemic, saw 29 of as its main sponsor.
the country’s best performing public-listed “These are the companies that were
companies with a market cap of at least able to come out of the pandemic in good Datuk Abdul Rahman Ahmad, Group
RM100 million but under RM1 billion shape because they had solid foundations CEO of CIMB Group, said the bank-
being named winners of 36 awards at an in both their business model and manage- ing group hopes that with CIMB’s sup-
exclusive gala dinner graced by the Min- ment capacity — helped no doubt also by port,The Edge Malaysia Centurion Club
ister of FinanceTengku Datuk Seri Zafrul the financial support and stimulus pack- Awards will continue to play a role in in-
Abdul Aziz. ages crafted by YB Senator and his team spiring the business community, while
at MOF,” said Ho. adding impetus to the overall economy.
The awards are the second one under
The Edge’s banner to recognise the achieve- In congratulating the winners, Teng- Companies that qualify for inclusion
ments of Corporate Malaysia. While the ku Zafrul likened them to “warriors” who in the Centurion Club must be listed on
first — The Edge Billion Ringgit Club, have fought and triumphed over one of the Bursa Malaysia as at end-March of the
which is in its 13th year now — celebrates most challenging operating environments. current calendar year, must not be sus-
companies with a market cap of at least “Indeed, your achievements today are a pended or be under Bursa’s watch list,
RM1 billion,The Centurion Club Corpo- solid testament to the country’s steady pro- and must not be delisted before the date of
rate Awards aim to uncover hidden gems gress towards economic recovery,” he said. the awards.They must also have a market
and turn the spotlight on deserving smaller capitalisation of at least RM100 million
companies whose performance and poten- “I’d (also) like to congratulate The Edge but less than RM1 billion.
tial match that of larger conglomerates. on The Edge Malaysia Centurion Club
Awards, which (The Edge chairman)Tan As of March 31 this year, there were
“The awards are meant to also encour- Sri Datuk Tong (Kooi Ong) started. The 488 Centurion Club members — as op-
age companies to be more efficient, com- award promotes meritocracy — recog- posed to 423 members in its inaugural year
petitive and successful, so that they are able nising top companies that are members of 2019 — with an estimated collective
to grow sustainably and responsibly.While of The Edge Malaysia Centurion Club market cap of RM160.9 billion.

CONTINUES ON PAGE 9

TUESDAY SEPTEMBER 20, 2022 9 THEEDGE CEO MORNING BRIEF

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KUALA LUMPUR (Sept 19): Budget Zafrul: Budget 2023 Ministry of Finance (MOF) revolve around
2023 will maintain Malaysia’s current to maintain recovery ESG and sustainability.
economic recovery momentum and build
long-term resilience, said Finance Minister momentum, “So, this really reflects [the] MOF’s focus
Tengku Datuk Seri Zafrul Abdul Aziz on prioritise on being responsive to ESG developments
Monday (Sept 19). and on being responsible for facilitating sus-
sustainability tainable development for the future.
“The upcoming national budget, which
will be tabled on Oct 7, will prioritise main- BY IZZUL IKRAM “We are not only doing this because it
taining the current economic recovery mo- theedgemarkets.com makes better fiscal sense in the long term,
mentum, continuing reforms to improve but also because it is the right thing, for
people’s welfare, and building resilience to awareness of the importance of embracing we must never fulfil current needs at the
ensure we as a nation are ready for any fu- sustainability and ESG principles to build expense of our children’s future.
ture challenges,” Tengku Zafrul told busi- long-term climate and socio-economic re-
ness leaders at The Edge Malaysia Centu- silience,” he said. “In striking that balance, the MOF has
rion Club 2022 ceremony. also tried to be reformist in our approach
“The Malaysian government is resolute to investing in key structural challenges and
“The government will continue to priori- in its commitment to implement develop- building the resilience of our nation, as well
tise sustainability and ESG (environmental, ment projects and programmes that prioritise as the competitiveness of our business ESG
social and governance concerns) through ESG principles or are aligned to the UNSDG considerations,” he added.
our whole nation approach,” he added. (United Nations Sustainable Development
Goals). Zafrul said companies have their role to
Tengku Zafrul highlighted that climate play in this ecosystem and the ball is on their
disasters have been occurring around the “Further [to] our goal of becoming a field to adopt ESG considerations to remain
globe, as well as on home soil.At end-2021, carbon neutral nation by as early as 2050, competitive locally and internationally.
the country saw one of the worst floods in Malaysia will work closely with Asean coun-
the nation’s history. tries with similar visions through the Asia “There is a wealth of data which shows
zero-emission community,” he added. that companies focusing on ESG issues have
He said these climate change impacts managed to reduce costs, increase employee
have exposed socio-economic structural Zafrul said that for Budget 2023, three productivity, reduce risks and create more
faults, which are critical to saving lives and out of six consultation papers issued by the business opportunities.
livelihoods.
“As such, for companies to remain
“The silver lining from this dramatic competitive, regionally and globally, ESG
turn of events in climate views is the re- considerations are no longer a choice but
sulting sense of urgency and the increased a profit-oriented requisite,” the minis-
ter said.

FROM PAGE 8

Centurion of the Year From left to right: Tan Sri Tong Kooi Ong (Chairman of The Edge Media Group),
Samchem was selected among the club Datuk Abdul Rahman Ahmad (Group CEO of CIMB Group Holdings Bhd), Ng Thin Poh
members as the Centurion of the Year, (Executive Chairman and CEO of Samchem Holdings Bhd), Tengku Zafrul and Datuk Ho Kay Tat
based on its overall scores in terms of: re-
turns to shareholders over three years (30% (Publisher & Group CEO of The Edge Media Group).
weightage), growth in PAT (profit after tax)
over three years (40%), and weighted ROE of end-March of the current year. Those More on The Edge Malaysia Centu-
(return on equity) over three years (30%). eligible to be recognised for highest ROE rion Club members and Monday night’s
and PAT must also be profitable for every award winners will be published in a spe-
It also took home the Highest Growth in year during the evaluation period, which cial pull-out of The Edge Malaysia weekly
Profit AfterTax (PAT) OverThreeYears un- is 2018 to 2021. next week.
der the Industrial Products & Services sector.

Samchem’s executive chairman cum chief
executive officer Ng Thin Poh was beam-
ing from ear to ear when the group was an-
nounced winner of this year’s grand award.
“This is totally unexpected. I dedicate it to
the whole team in Samchem.This will be a
source of inspiration for all of us” said Ng.

The Highest Growth in PAT Over
ThreeYears that Samchem won is part of
three awards that The Edge gave out for
each of 12 sectors the awards cover, with
the two other categories being Highest Re-
turn on Equity OverThreeYears and High-
est Returns to Shareholders Over Three
Years (see the winners’ table on page 10).

To be considered for these corporate
awards, a member of The Edge Malaysia
Centurion Club must be listed for at least
four calendar years before the cut-off date

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Hh oO Mm Ee

The Edge Malaysia Centurion Club
Awards 2022

Centurion Highest Returns to Shareholders REIT
of the Year Over Three Years Highest Return on Equity Over Three Years
Kenanga Investment Bank Bhd Atrium REIT
Samchem
Holdings Bhd Healthcare Highest Growth in Profit After Tax
Highest Return on Equity Over Three Years Over Three Years
Kotra Industries Bhd UOA REIT

Consumer Products & Services Highest Growth in Profit After Tax Highest Returns to Shareholders
Highest Return on Equity Over Three Years Over Three Years Over Three Years
SEG International Bhd Kotra Industries Bhd Atrium REIT

Highest Growth in Profit After Tax Highest Returns to Shareholders Technology
Over Three Years Over Three Years Highest Return on Equity Over Three Years
Harrisons Holdings (Malaysia) Bhd Kotra Industries Bhd Rexit Bhd

Highest Returns to Shareholders Industrial Products & Services Highest Growth in Profit After Tax
Over Three Years Highest Return on Equity Over Three Years Over Three Years
CI Holdings Bhd Comfort Gloves Bhd VSTECS Bhd

Construction Highest Growth in Profit After Tax Highest Returns to Shareholders
Highest Return on Equity Over Three Years Over Three Years Over Three Years
GDB Holdings Bhd CB Industrial Product Holding Bhd Microlink Solutions Bhd
CSC Steel Holdings Bhd
Highest Growth in Profit After Tax Samchem Holdings Bhd Telecommunication,
Over Three Years Media & Utilities
Pintaras Jaya Bhd Highest Returns to Shareholders Highest Return on Equity Over Three Years
Over Three Years REDtone Digital Bhd
Highest Returns to Shareholders Pecca Group Bhd
Over Three Years Highest Growth in Profit After Tax
Pintaras Jaya Bhd Plantation Over Three Years
Highest Return on Equity Over Three Years REDtone Digital Bhd
Energy Innoprise Plantations Bhd
Highest Return on Equity Over Three Years Highest Returns to Shareholders
Deleum Bhd Highest Growth in Profit After Tax Over Three Years
Over Three Years (No winner)
Highest Growth in Profit After Tax Sarawak Plantation Bhd
Over Three Years Transport & Logistics
T7 Global Bhd Highest Returns to Shareholders Highest Return on Equity Over Three Years
Over Three Years Harbour-Link Group Bhd
Highest Returns to Shareholders Sarawak Plantation Bhd
Over Three Years Highest Growth in Profit After Tax
Coastal Contracts Bhd Property Over Three Years
Highest Return on Equity Over Three Years Harbour-Link Group Bhd
Financial services Paramount Corp Bhd
Highest Return on Equity Over Three Years Highest Returns to Shareholders
Kenanga Investment Bank Bhd Highest Growth in Profit After Tax Over Three Years
Over Three Years Tasco Bhd
Highest Growth in Profit After Tax Eupe Corp Bhd
Over Three Years
Kenanga Investment Bank Bhd Highest Returns to Shareholders
Insas Bhd Over Three Years
HCK Capital Group Bhd

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S&P: Macao quality will stabilise following the com- EATechnique
licence may shift pletion of a major investment cycle, while disposes of
Genting’s focus to an operational recovery is underway,” the
debt-fuelled growth rating agency stated in the report. marine vessel for
from deleveraging RM18.69 mil
On Sept 14, Genting Malaysia Bhd’s
by Priyatharisiny Vasu indirect subsidiary GMM SA submitted by Priyatharisiny Vasu
theedgemarkets.com a bid to the Macao Special Administrative theedgemarkets.com
Region’s government for a 10-year licence
KUALA LUMPUR (Sept 19): Interna- to operate casinos. Genting Malaysia is one KUALA LUMPUR (Sept 19) : EA
tional credit rating agency S&P Global of the main hospitality, gaming, and enter- Technique (M) Bhd said it has en-
Rating said that the bid for a Macao gam- tainment arms of Genting, with the latter tered a memorandum of agreement
ing licence could shift Genting Bhd group’s owning a 49.35% stake in Genting Malaysia. to dispose of a marine vessel for
focus to debt-funded growth, from the rat- US$4.2 million (RM18.69 million)
ing agency’s earlier expectation that the Aside from the Macau government con- to United Arab Emirates-based
group is deleveraging. ditionally accepting GMM’s proposal, no tanker vessel operator Glory In-
further details are available currently. ternational FZ-LLC.
In a report on Sept 19, S&P Global Rat-
ings stated that if the group managed to “Despite offering a wider geographic The group announced on Aug
secure the Macao gaming licence, the group footprint and an opportunity for the group 5 that it planned to sell the vessel,
might shift its focus from one that is de- to expand, Macao’s gaming market would Nautica Maharani, to a third-party
leveraging, to one fuelled with debt, which also imply more intense competition in a purchaser for at least US$4 million,
could then change the rating agency’s ex- highly regulated and scrutinised market as part of the disposals of three
pectation on the group’s credit quality. versus other markets, such as Malaysia marine vessels for about US$13.5
and Singapore. million.
“This is contrary to our earlier expecta-
tion that Genting’s (BBB-/Stable/--) credit “We expect the outcome of the bid to The approval from its share-
be released by year end,” S&P Global Rat- holders for the disposals was ob-
ings said. tained at an extraordinary gener-
al meeting held on Sept 12, EA
S&P Global Ratings-rated Macau gam- Technique said in a Bursa Malay-
ing companies, Las Vegas Sands Corp sia filing.
(BB+/Watch Neg/--), Melco Resorts (Ma-
cau) Ltd (BB-/Watch Neg/--), and MGM The group said the dispos-
Resorts International (B+/Watch Neg/--) als will allow it to streamline its
are currently on CreditWatch with nega- fleet of vessels and realise the
tive implications due to stringent Covid value of its non-profit generat-
restrictions clouding the path to recovery. ing assets.

“We expect Macao’s 2022 gross gaming EA Technique's share price rose
revenue (GGR) to only be 20% to 30% 2.5 sen or 55.56% to seven sen
of 2019 level, and 50% to 70% in 2023. on Monday (Sept 19), valuing the
Furthermore, we view the timeline of the group at RM33.42 million.
mass market recovery to be uncertain due
to the ongoing Covid situation and macro-
economic difficulties in China,” the rating
agency added.
Read also: GenM subsidiary conditionally
accepted to participate in Macau casino bid

KUALA LUMPUR (Sept 19): Fibre op- Opcom proposes Digital Negara (Jendela) Phase 1 project
tic cable manufacturer Opcom Holdings to diversify into in multiple locations across Sarawak,
Bhd has proposed to diversify its business telecommunication added Opcom in a filing with Bursa
to include the provision of telecommuni- network business Malaysia.
cation network infrastructure solutions.
by Priyatharisiny Vasu The group expects the telecommunica-
The group said it is buying the entire theedgemarkets.com tion network business to contribute 25%
equity interest in T&J Engineering Sdn or more of Opcom’s net profits.
Bhd (TJE) fromT&J Assets Holdings Sdn
Bhd at a price of up to RM90 million, to Opcom executive director Ong Soon
be paid via a combination of cash (30%) Lim said the acquisition will enable the
and new shares (70%). group to offer more comprehensive solu-
tions for the telecommunications indus-
TJE provides telecommunications net- try, ranging from fibre optic cables to tel-
work infrastructure solutions, encompass- ecommunication network infrastructure
ing civil, as well as mechanical and elec- solutions.
trical engineering telecommunication
infrastructure deployment. “Further, the proposed acquisition and
diversification will provide Opcom with
The firm has been sub-awarded con- an opportunity to enlarge its footprint in
tracts for the implementation of Jalinan East Malaysia,” he said in a statement.

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KUALA LUMPUR (Sept 19):Top Glove Top Glove slips pectsTop Glove to record a loss of RM37
Corp Bhd slipped below 70 sen on Mon- below 70 sen million in the fourth quarter of the finan-
day (Sept 19), falling as much as 7 sen or cial year ending Aug 31, 2022.
9.15% to 69.5 sen — its lowest since more ahead of 4QFY22
than five years ago — ahead of its fourth financial results Its analyst Megat Fais wrote in a note
quarter (4QFY22) and full-year (FY22) announcement that revenue will continue to be under
results on Tuesday (Sept 20). pressure from the still-falling average sell-
by Shazni Ong ing prices of rubber gloves amid an over-
Top Glove, which was the most active theedgemarkets.com supplied market, and volume weakness,
stock on Bursa Malaysia, however pared its as well as rising wages and energy prices.
losses for the day, settling 6 sen or 7.84% estimates gathered by Bloomberg.
lower at 70.5 sen, with some 110.71 mil- Maybank Investment Bank Bhd, which Based on estimates of consensus by
lion shares traded. The counter’s shares Bloomberg, there are one buy, seven hold
are down 75% in the past year. has a sell call and target price (TP) of 65 and 15 sell calls by analysts onTop Glove,
sen, said recent results and guidance from with an average TP of 88.72 sen, a 25.8%
The last time Top Glove saw its share the glove companies “give us no reason to upside from the closing price of 70.5 sen
price traded below the 70 sen mark was on reverse our long-standing underweight call on Sept 19.
May 9, 2017, when it finished at 68.5 sen. on the sector”.
Meanwhile, according to its investor
To recap, for the nine-month period Its analysts Anand Pathmakanthan and presentation dated Sept 15, Top Glove
ended May 31, 2022, the world’s largest WongWei Sum noted that additional risks highlighted that its capacity expansion
rubber glove maker reported a net prof- may emerge if the US cuts import tariffs will be aligned with the demand and sup-
it of RM288.56 million, compared with on Chinese goods. ply situation, especially for the 2023 to
RM7.26 billion in the corresponding pe- 2025 period.
riod, a 96% plunge year-on-year (y-o-y). “If the 7.5% import duty on gloves
made in China is removed, producers from The group hopes to eventually reach a
Its revenue during the period declined that country will likely slash prices to break production capacity of 156 billion pieces
68.5% y-o-y to RM4.5 billion. into the US market,” the analysts said. by end 2025.

A Bloomberg report on Monday noted Citigroup, which also has a sell call but Top Glove’s current capacity is at 100
that Top Glove, the maker of one out of a higher TP of 73 sen than Maybank, ex- billion pieces per annum with 812 produc-
every four gloves in the world, may post a tion lines, coming out from its 50 facto-
fifth straight quarterly slump in profit as ries which are located mostly in Malaysia.
weak demand for protective gear global- Apart from Malaysia,Top Glove also has
ly and oversupply keep selling prices de- presence inThailand, China andVietnam.
pressed.
Top Glove noted that nitrile glove sales
Additionally, poor demand, abundant volume continued to show an increasing
supply and competition from new entrants trend, driven by sales to the US,Western
have hurt earnings at local glove makers Europe, Asia and Latin America.
in the past year.
The group said nitrile gloves made
At least one brokerage, Citigroup, ex- up 40% of its product mix by volume in
pects Top Glove to suffer its first quarter- 3QFY22, a growth from the 37% and 34%
ly loss in data going back to 2001, stated in 2QFY22 and 1QFY22 respectively.
Bloomberg in the report. Overall, during the pandemic in FY20,
sales of nitrile gloves constituted 47% of
Top Glove’s share price has tumbled by total volume.
more than 70% this year. Its price-to-book
value ratio had fallen to below one time for Top Glove added that there are strong
the first time since 2008, Bloomberg stated. growth opportunities in developing coun-
tries that have large populations but with
Top Glove is estimated to post a net currently low glove usage, such as Indo-
income of RM19.8 million for its upcom- nesia, India and China.
ing 4Q, according to analysts’ consensus

KUALA LUMPUR (Sept 19):The Malay- Fears of global would be having a meeting later this week,
sian rubber market closed lower on Mon- recession drags where the Federal Open Market Commit-
day (Sept 19), tracking weaker advice from rubber market tee is expected to continue its rate hike
regional rubber futures markets as global momentum.
sentiment was dampened by fears of global lower
recession, a dealer said. The Japanese rubber futures were
Bernama closed on Monday in conjunction with
Nevertheless, he said further loss- Respect for the Aged Day.
es were capped by gains in benchmark
crude oil prices and weaker ringgit The Malaysian Rubber Board’s (MRB)
against the US dollar amid more mon- price for Standard Malaysian Rubber 20
etary easing by China. (SMR 20) lost two sen to 603.5 sen per
kg while latex-in-bulk slipped 1.5 sen to
“Market operators are also keeping a 483 sen per kg.
close watch on several central bank meet-
ings this week, including a US Federal Re- At 5pm, MRB’s closing price for SMR
serve (Fed) rate decision on Wednesday,” 20 stood at 598 sen a kg while latex-in-
the dealer said. bulk was at 480 sen a kg.

The Fed monetary policy meeting The market was closed on Friday for
the Malaysia Day holiday.

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PUTRAJAYA (Sept 19): The Malaysian Federal Court Zabariah added that under no circum-
Bar on Monday (Sept 19) has failed in its upholds ruling stances should the apex court hear the mat-
bid to review the Federal Court’s earlier Bar had breached ter as if it was an appeal, especially when
decision that it had breached its statutory statutory duty it was asked to interpret Sections 99(1),
duty towards lawyer Tan Sri Muhammad 64(6) and 111 of the Legal Profession Act
Shafee Abdullah and that he is entitled to to Shafee 1976 (LPA) on what those sections mean.
damages to be assessed by the High Court.
by hafiz yatim She said that in wanting this court to
The Bar had accepted and published a theedgemarkets.com reinterpret the law, the review is not the
motion to censure the senior lawyer who right course of action, as there is no in-
had held roadshows in early 2015 about Asean Security Papermill Sdn Bhd,” Za- consistency in the decision of the earlier
Opposition Leader Datuk Seri Anwar Ibra- bariah said in dismissing the appeal with panel of this court.
him’s conviction for Sodomy II. no order as to costs.
“The earlier panel was careful in not en-
The motion was supposed to be debated Zabariah said the case presented before croaching beyond the parameter required
during the Malaysian Bar’s annual general the bench appeared to be an appeal of the at the appeal. On the earlier bench’s deci-
meeting (AGM) in March 2015 but was earlier panel decision which this panel was sion to set aside the entire decision of the
stopped from being presented in the AGM not empowered to do. Court of Appeal this bench ruled that it is
due to an injunction obtained by Shafee. seized with the jurisdiction to decide the
She said it was not this court’s job to way it did after answering the questions of
A three-member bench, led by Federal determine whether the previous panel had law posed to them.
Court judge Datuk Zabariah MohdYusof, or had not made a correct decision on the
unanimously ruled that the bench was not facts and the law as these are matters of “In answering the questions, the panel
satisfied that the Malaysian Bar’s application opinions and interpretation of the law. has resolved the main issue of the case,
to review the earlier decision falls within its namely the issue of statutory duty of the
powers.The earlier decision was made by an- The other members of the Federal Malaysian Bar.The questions of law were
other three-member bench chaired by Court Court bench are judges Datuk Seri Hasnah couched to incorporate this point of law
of Appeal presidentTan Sri RohanaYusuf. Mohamed Hashim and Datuk Mohd Za- which when answered had the effect of
bidin Md Diah. reversing the conclusion of the Court of
“After due consideration we are not Appeal without any further evaluation of
satisfied that this is a fit and proper case the evidence,” she added.
that falls within the limited grounds and Read the full story
exceptional circumstances of which the
power to review made be exercised as ex-
pounded in the landmark decision of the

KUALA LUMPUR (Sept 19):The pros- Prosecutors in issue and they are “secondary facts”.
ecution in Umno president Datuk Seri Dr object to written Raja Rozela also said that her objection
Ahmad Zahid Hamidi’s corruption trial
is objecting to certain passages in witness testimony of to the paragraphs are based on Section 153
Major General (retired) Datuk Fadzlette Zahid’s aide as it’s of the Evidence Act which does not allow
Othman Merican Idris Merican’s written for discrediting a witness.
testimony before the High Court. ‘irrelevant’
Zahid’s defence lawyer Datuk Hisyam
Fadzlette, who is also Zahid’s long-stand- by Timothy Achariam Teh PohTeik then asked Sequerah for time
ing press secretary, was slated to take the theedgemarkets.com to reply to Raja Rozela and asked that the
stand as a defence witness on Monday (Sept trial be adjourned untilTuesday morning.
19). However, lead prosecutor Datuk Raja Patrick Goh/The Edge
Rozela Raja Toran objected to Fadzlette’s Sequerah allowed it and adjourned the
witness statement. trial for the day.

Raja Rozela told presiding judge Datuk Zahid, 69, is facing 47 charges, com-
Collin Lawrence Sequerah that paragraphs prising 12 for criminal breach of trust
in her witness statement are “irrelevant” to (CBT), eight for corruption and 27 for
Zahid’s charges and should not be taken money laundering involving RM31 mil-
by the High Court as evidence. lion ofYayasan Akalbudi funds.

She added that it was “inadmissible be- For the 12 CBT charges, Zahid is al-
cause of collateral facts”. leged to have used the funds to make pay-
ments for personal credit cards, insurance
Raja Rozela said that the paragraphs in policies and licences for his personal ve-
question are attacking the prosecution’s key hicles, remittances to a law firm and con-
witness Major Mazlina Mazlan @ Ramly. tributions to the Royal Malaysian Police
football association.
Zahid previously stated that Mazlina took
it upon herself to use funds from his char- The charges, under Section 409 of the
itable foundationYayasan Akalbudi to pay Penal Code, each carries a sentence of up
off his personal credit cards, among others. to 20 years in jail, whipping and fine.

He also reiterated that he had never Zahid is facing 47 charges, comprising
given her authority to pay bills and issue 12 for criminal breach of trust (CBT),
cheques using his rubber signature stamps. eight for corruption and 27 for money
laundering involving RM31 million of
Raja Rozela said that the paragraphs she Yayasan Akalbudi funds.
is objecting to has no bearing to the facts

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MAA: August The Edge file photo Proton back in
vehicle sales South Africa
jump 36% m-o-m with launch of
on booking Proton X70,
fulfilment Proton X50

by Priyatharisiny Vasu by Surin Murugiah
theedgemarkets.com theedgemarkets.com

KUALA LUMPUR (Sept 19): Vehicles tax exemption, as long as the cars were KUALA LUMPUR (Sept 19): Proton
sold in the month of August rose 36% to registered prior to March 31, 2023. Holdings Bhd has returned to South Afri-
66,614 units from 48,922 units in July, as ca after a ten-year hiatus with the relaunch
automotive companies fulfilled bookings According to MAA, sales of passenger of the brand by Combined Motor Hold-
received prior to June 30, 2022 that qualify vehicles increased to 59,769 units from ings (CMH), Proton’s official distributor.
for the sales tax exemption, according to the 15,475 units in August 2021, while sales
Malaysian Automotive Association (MAA). of commercial vehicles was higher at 6,845 In a statement on Monday (Sept 19),
units from 2,448 units a year ago. the national carmaker said the event coin-
Compared to August last year, car sales cided with the local launch of the Proton
surged more than 270% from 17,923 units. Year-to-date (YTD), total vehicle sales X70 and Proton X50.
Automotive sales have been increasing stood at 447,209 units, a 62% increase
since Malaysia steps out of the Covid-19 from 274,600 units in the same period It said both models are now available
pandemic with consumers chasing to buy last year. as completely built-up (CBU) models
cars that were made cheaper due to the to customers in that country and will be
government’s exemption on sales tax. Meanwhile, total vehicle production was joined by the Proton Saga later in the year
up year-on-year (y-o-y) at 69,378 units or the beginning of 2023.
On June 20, the Finance Ministry an- in August from 13,961 units, while the
nounced that the sales tax exemption on YTD figure stood at 439,372 units ver- CMH chief executive officer Jebb
passenger vehicles — 50% for imported sus 258,024 units in the corresponding McIntosh said when the Proton brand
vehicles and 100% for locally assembled period last year. became available, CMH jumped at the
cars — which was introduced in June 2020, opportunity for several reasons, but most-
would end on June 30, 2022. Looking ahead, MAA expects car sales ly because it saw a gap in the market for
in September to be maintained at the Au- a quality SUV within an affordable price
However, cars booked prior to the ex- gust-2022 level. However, the association bracket.
piry date would still be able to enjoy the added the shortage of chips and compo-
nents will continue to affect some makes. “There are many luxury brands selling
SUVs in South Africa, but most are simply
KUALA LUMPUR (Sept 19): Auto parts EP unaffordable to the average car buyer here.
maker EP Manufacturing Bhd has entered Manufacturing
into two investment agreements (IAs) on inks investment “Our plan is to have 25 dealers with-
its venture into the two-wheeled electric agreements on in six months, the first 17 of which have
vehicle (EV) business. already undergone sales and technical
EV business training,” he said.
In a filing with Bursa Malaysia on
Monday (Sept 19), EP Manufacturing Bernama Meanwhile, Proton deputy CEO
said the first agreement, with a minimum Roslan Abdullah said that for 2022, ex-
investment amount of US$50 million “SHLLC, being the investor, will invest port sales as at the end of August stood
(RM227.48 million), was inked between in the company for the purpose of pro- at 4,040, an increase of 33.9% over the
the company and CIS Pride Fund SPC curing and purchasing two-wheeled EVs total number of sales for 2021.
(CPFS), Sharkgulf Technologies Group from the company/Sharkgulf, which will
Ltd as well as Blueshark Holding Ltd. be sold and distributed in Southeast Asia. “Our aim is to achieve 6,000 export
sales this year and while we remain con-
“Under the first IA, CPFS, being the “SHSB will be appointed as the man- fident of achieving our goal, there is a lot
investor, will invest in the super-delivery ager by SHLLC to oversee and manage of work ahead of us to identify suitable
ecosystem project by procuring and pur- the delivery of the project,” it said, add- partners to gain entry to more countries to
chasing battery swapping stations and lith- ing that a bank guarantee and/or cor- achieve bigger goals in the future,” he said.
ium batteries from the company/Sharkgulf, porate guarantee would be provided by
and will appoint Blueshark as the manager SHLLC for an investment amount of
to oversee and manage the delivery of the US$50 million.
project,” it said.

Meanwhile, the second IA was signed
by EP Manufacturing, Siraj Holding LLC
(SHLLC), Siraj Holding Sdn Bhd (SHSB)
and Sharkgulf, involving a total minimum
investment amount of US$125 million.

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KUALA LUMPUR (Sept 19): The do- Budget 2023: On the cabotage policy, Mohamed Saf-
mestic shipping industry hopes that the Shipowners hope wan reiterated that the current exemption
government will look closely at including scenario has made Malaysian vessels un-
sufficient financing and tax exemptions for for funds, tax competitive and vulnerable in maintain-
shipowners in Budget 2023. breaks to tame ing their existing tonnages, leading to the
pandemic effects decline of Malaysia’s shipping industry.
Malaysia Shipowners’ Association
(MASA) chairman Mohamed Safwan Oth- by Harizah Hanim Mohamed “This will consequently lead to a higher
man said funding and financial aid are crucial Bernama negative balance of payment (BOP) on ship-
for the local players in view of the prevailing ping freight.The use of foreign tonnage for
conditions surrounding the shipping indus- tended for shipping companies beyond the domestic trade does not provide any reve-
try, particularly for shipowners struggling for current loan moratorium currently in force, nue for the government except a meagre fee
survival following the economic downturn irrespective of their revenue,” he said. to obtain the Domestic Shipping Licence.
and slowdown in the shipping industry due
to the Covid-19 pandemic. At the moment, a full income tax ex- “The government should consider reinstat-
emption is granted to Malaysian shipping ing and strengthening the cabotage policy as
“A maritime or shipping fund should companies under Section 54A of the In- it is a universal policy being practised around
be extended beyond the 2022 period and come Tax Act (ITA) 1967 until 2023. the world and vital for a country’s shipping
[we hope] other commercial banks [will industry, not only for commercial reasons but
be able] to manage the financing. “While the shipping companies are most importantly, for security matters.
grateful to the government for this waiv-
“The government should also consider er, such a short period will not enable the “A sizeable domestic merchant fleet can
giving tax rebates to shipowners when con- shipping companies to plan and invest in be quickly used for national defence or
structing vessels in local shipyards, as well new assets. transporters during emergencies or con-
as grants for high technology and environ- flicts, so much so that the South China Sea
ment-friendly marine projects such as liq- “Furthermore, under ITA 1967, the separates our country,” he added.
uefied natural gas-fuelled vessels and other definition of ‘ships’ does not include fer-
green shipping initiatives,” he told Bernama. ry, barge, tugboat, supply vessel, crew boat, Mohamed Safwan also emphasised that
lighter, dredger, and fishing boat, among the government should introduce a policy
Mohamed Safwan highlighted that a others, resulting in these vessels not being to encourage major companies, including
competitive financing rate should be made recognised for the tax exemption regime,” government-linked companies (GLCs), to
available to the shipping industry so that he said. give more opportunities to local players to
domestic players can compete on a level participate in their trade activities by using
playing field with countries such as Sin- Malaysia-flagged vessels to reduce the BOP
gapore, Japan, South Korea, and China. deficit and contain the outflow of funds.

“The other area that we wish the gov- He said this would reassure GLCs to
ernment would consider is the loan mor- procure using the free on board option in-
atorium period. We hope it could be ex- stead of cost, insurance, and freight.

KUALA LUMPUR (Sept 19): Sarawak Sarawak “We anticipate that the new replanting
Plantation Bhd’s healthy balance sheet is Plantation seems methodology by management from expe-
likely to help the group tide through a possi- rienced estates manager, will further en-
ble downcycle of the industry as crude palm shielded from hance its age profile,” it said.
oil (CPO) prices gradually lose steam, said volatile palm oil
MIDF Research. prices, says MIDF The research firm also likes the stock’s
alluring dividend yield of 8.1% as the group
With a strong balance sheet of about by Chester Tay has been paying 10 to 20 sen dividend per
only 4% of net gearing registered to-date, theedgemarkets.com share over the past four years, thanks to
the company is now on a stronger footing consistent cash flow generation from its
and liquidity to pursue landbank expan- ment continues to develop a clear vision operations.
sion following the normalisation of estates for the company by enhancing its estates
market price ahead, the research house said operations, leveraging experienced estates “We anticipate that Sarawak Plantation
in a note on Monday (Sept 19). managers. will remain paying at least 20 sen dividend
per share annually for the future, there-
MIDF Research, which initiated cov- Previously, MIDF noted that Sarawak fore rewarding shareholders while pursuing
erage on Sarawak Plantation with a “buy” Plantation’s planted area had been poorly long-term growth,” it said.
recommendation and RM2.70 target price, managed, but after the arrival of these man-
said that despite recent volatility in CPO agers, there has been a significant transfor- In terms of profitability, MIDF expects
prices, they are still higher than normal mation plan implemented at management, the group’s earnings to stay consistent at
times. staff and, most crucially, operating levels. RM121 million to RM120.7 million over
2022 to 2024, backed by further produc-
“Indeed, CPO prices had already fallen “The company’s young and mature ar- tion output from encumbered areas coming
to pre-invasion [by] Russia levels by July 22, eas now account for 65% of harvestable on stream despite normalising “supernor-
but prices remain higher than 30 months areas, indicating the increased output is mal profits” amid correction to CPO prices.
earlier,” the firm said. on the way.
Sarawak Plantation closed four sen or
“Even if earnings may be capped by the 1.9% lower at RM2.03 per share, giving it a
moderating of lower average selling prices market capitalisation of RM568.4 million.
realised ahead, we think its current share Read also: Green shoots in the Plantation
price still has further upside,” it added. Index?

MIDF said this is supported by ongo-
ing operational efficiency as the manage-

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Official Solar Partner Supported By

REAL ESTATE
MATTERS

PRESENTS

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world

Biden says US would defendTaiwan
from ‘unprecedented attack’

(Sept 19): President Joe Biden said US mil- by Josh Wingrove designateTaiwan a “major non-Nato ally”
itary forces would defendTaiwan from “an Bloomberg and give it more military hardware, even as
unprecedented attack,” his latest pledge of the White House has expressed concerns
support as his administration seeks to deter and abide by the one China principle,” at over the legislation.
China from increasing military pressure a Monday news briefing in Beijing. Failing
on the democratically elected government to do so, she added, could cause “further Policy contradictions
in Taipei. damage to China-US relations and peace “The biggest problem we have is that what
and stability across the Strait.” theWhite House says is ourTaiwan policy
Biden made the remark during an inter- and what Biden says is our Taiwan policy
view with “60 Minutes” that aired Sunday, Biden has made similar statements on contradict each other,” said Lev Nachman,
while distancing himself from the question of at least four other occasions as president, assistant professor at National Chengchi
whetherTaiwan is or should be independent. spurring protests from Beijing and adding University.
Interviewer Scott Pelley asked the president new uncertainty toWashington’s longstand-
if US forces would “defend the island.” ing policy of “strategic ambiguity” toward “Even though this is not the first time
Taiwan. China claimsTaiwan as its territo- Biden has made such comments, today’s
“Yes, if in fact there was an unprecedent- ry, even though the Communist Party has context makes them hit extra hard because
ed attack,” Biden replied, according to a never controlled it, and hasn’t ruled out of the Taiwan Policy Act’s ongoing debate
transcript provided by the broadcaster. Pelly force to prevent its formal independence. and the recent Chinese military drills in
then asked if that meant US soldiers would the Taiwan Strait,” he added. “The worry
defendTaiwan in the case of a Chinese inva- “China has long assumed that the US is that this will exacerbateTaiwan’s current
sion, unlike the current situation in Ukraine, would intervene to defendTaiwan, so these high-tension moment rather than reduce it.”
and the president again said “yes.” statements don’t change PLA plans,” said
Bonnie Glaser, director of the Asia Pro- The Taiwanese Foreign Ministry ex-
Earlier in the interview, Biden had said gram at the German Marshall Fund, re- pressed “sincere gratitude towards Presi-
the US stood by its “One China” policy, ferring to China’s military. “If Biden is se- dent Biden’s reiteration that the US govern-
in which it has avoided formal recognition rious about defendingTaiwan, he’ll attach ment has rock-solid security commitments
of the government in Taipei or providing a much higher priority to bolstering the toTaiwan,” the agency said in a statement,
it a binding security guarantee. US military’s capability to defend Taiwan praising the administration for showing that
if attacked.” “it supportsTaiwan through multiple pub-
“We agree with what we signed onto a lic remarks and specific actions.”
long time ago. And that there’s One China US relations with China have deterio-
policy, and Taiwan makes their own judg- rated further in the wake of House Speaker In May, Biden said “yes” when asked if
ments about their independence. We are Nancy Pelosi’s trip to the island last month, the US was prepared to become “involved
not moving — we’re not encouraging their with China cutting off climate and military militarily” if it had to. White House offi-
being independent,” he said. “That’s their talks and holding its most provocative mili- cials later said Biden simply meant the US
decision.” tary exercises nearTaiwan in decades. Still, would provide military equipment to Tai-
there’s been no indication that the tensions wan, not send troops to defend the island
A US official said Sunday that US pol- have scuttled plans for Biden and Xi to hold if China attacks.
icy hasn’t changed, noting that Biden had their first face-to-face summit in November.
made the same points before.The official Back then, China’s Foreign Ministry
asked not to be identified responding to That could yet change if Congress pass- expressed “strong dissatisfaction and firm
the “60 Minutes” interview. es theTaiwan Policy Act, which is now un- opposition” to Biden’s previous remarks,
der discussion inWashington.The Senate saying the US risked undermining peace
Chinese Foreign Ministry spokeswoman Foreign Relations Committee approved and stability in theTaiwan Strait. President
Mao Ning urged the US to “fully under- a bill on Wednesday that would formally Xi Jinping reaffirmed China’s resolve to
stand the extremely important and high- defend its claim to Taiwan in a call with
ly sensitive nature of the Taiwan question reuters Biden in July, telling the US leader that
“those who play with fire will perish by it.”

The US announced another round of
weapons sales to Taiwan this month, to-
taling over US$1 billion. “We’ve been ad-
amant about being committed toTaiwan’s
self-defense and moving that forward,” Na-
tional Security Council spokesman John
Kirby said last week.

Read the full story

Read also: China lodges complaint after
Biden says US would defend Taiwan in a
Chinese invasion

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WORLD

Europe races to prepare for energy
crunch this winter

BERLIN/LISBON (Sept 19): Germany BY MIRANDA MURRAY, RACHEL MORE he said, urging the European Commission
was pressing on Monday to secure lique- & SERGIO GONCALVES to move forward with plans for a joint EU
fied natural gas contracts with Gulf pro- Reuters gas purchasing platform and defining im-
ducers and other European states outlined port prices.
measures to conserve energy, with Russian BLOOMBERG Nord Stream 1 requests
flows running at severely reduced levels as Russia, which had supplied about 40% of
winter approaches. consumption peaks was an option this win- the European Union’s gas before its Feb-
ter if required. ruary invasion of Ukraine, has said it closed
Berlin said it aimed to sign LNG contracts Nord Stream 1 becauseWestern sanctions
in the United Arab Emirates to supply ter- The companies would be compensated hindered operations. European politicians
minals it is building, now that the vital Nord financially, she said in an interview with say that is a pretext and accuse Moscow of
Stream 1 gas pipeline from Russia is shut, Spanish news agency Europa Press, add- using energy as a weapon.
while Spain, France others outlined contin- ing there was no need to impose such clo-
gency planning to try to avoid power cuts. sures now. German buyers briefly reserved capacity
on Monday to receive Russian gas via the
“If everything goes well, savings in Ger- And Finns were warned by national Nord Stream 1 pipeline, once one of Eu-
many are high and we have a bit of luck with grid operator Fingrid that they should be rope’s major gas supply routes, for the first
the weather, we ... have a chance at getting prepared for power outages. time since the line was shut three weeks
through the winter comfortably,” Economy ago. But they soon dropped the requests.
Minister Robert Habeck said after a tour of a Reflecting the disruptions caused across
future LNG terminal in northern Germany. the continent, Finnish power retailer Kar- It was not immediately clear why buyers
huVoima Oy said it had filed for bankrupt- had submitted requests for capacity when
The sharp drop supplies from Russia, cy due to a sharp rise in electricity prices. Russia has given no indication since it shut
which previously supplied about 40% of the line that it would restart any time soon.
the European Union’s gas needs, has left Meanwhile in Germany, Habeck said
governments scrambling to find alternative Berlin will not let large gas importers like Meanwhile, Ukraine accused Rus-
energy resources and has prompted fears VNG become insolvent, while an econo- sian forces of shelling near the Piv-
of possible power cuts and a recession. my ministry spokesperson said “focused” dennoukrainsk nuclear power plant in
discussions on aid were ongoing with ailing Ukraine’s southern Mykolaiv region.
Russia has blamed Western sanctions importer Uniper.
imposed on Moscow for its invasion of Since its forces were driven out of
Ukraine for hampering pipeline deliveries. The German economy is contracting Kharkiv, Russia has repeatedly fired at
European politicians say Moscow is using already and will likely get worse over the power plants, water infrastructure and oth-
energy as weapon. winter months as gas consumption is cut er civilian targets in what Ukraine says is
or rationed, the country’s central bank said retaliation for defeats on the ground. Mos-
Germany’s RWE said it was “in good on Monday. cow denies deliberately targeting civilians.
and constructive talks” with Qatar about ‘Going back in time’
LNG deliveries, before a planned visit by In Portugal, the government was blunt European gas storages are now 85.6% full,
Chancellor Olaf Scholz to the Gulf. Ailing about its concerns. with stocks in Germany close to 90%, data
importer Uniper said it had not reached from Gas Infrastructure Europe showed.
a deal yet. “From one day to another, we may
have a problem, such as not being sup- “Stocks are set to continue to be built
Germany will also be able to count on plied the volume of gas that is planned,” further, supported by the finalisation of
gas flowing from France from around Oct environment and energy minister Duarte planned maintenance work and increasing
10, the head of France’s CRE energy reg- Cordeiro said, adding that Portugal was Norwegian flows as of this week,” analysts
ulator said, following an announcement by working to diversify its supplies to boost at Energi Danmark said in a morning note.
President Emmanuel Macron that the two energy security.
would help each other with energy supplies. Europe’s imports of thermal coal in
“Portugal has been preparing, like all of 2022 could be the highest in at least four
Although deliveries via the Nord Stream Europe, for what will be a difficult winter,” years, analysts said.
1 have halted, Russian gas flows to Europe
via Ukraine, although much reduced, have “Europe is going back in time,” Rod-
continued. rigo Echeverri, head of research at Noble
Resources, told a conference.
In France, CRE chief EmmanuelleWar-
gon said that if energy group EDF’s race to Oil prices fell by more than 2% on
repair corrosion-hit nuclear reactors suffers Monday, pressured by expectations of
delays, “exceptional” measures this win- weaker global demand and by US dol-
ter could include localised electricity cuts. lar strength, ahead of a potentially large
interest rate hike, though supply worries
“But there will be no gas cuts for house- limited the decline.
holds. Never,” she told franceinfo broad-
caster. Read also: Saudi Arabia’s July crude oil
exports rise to over two-year peak
‘Difficult winter’
Across the Pyrenees, Spanish Industry
Minister Reyes Maroto said obliging en-
ergy-intensive companies to close during

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world

reuters

Sea to fire 3% of
Shopee Indonesia

staff as layoffs
start

by Olivia Poh
Bloomberg

(Sept 19): Sea Ltd is preparing to fire 3% company ended 2021 with more than The company intends to offer severance
of Shopee employees in Indonesia, part of 67,000 people overall. Management an- packages and assistance as needed, accord-
a broader wave of regional job cuts intend- nounced the impending layoffs during a ing to the memo.
ed to curb ballooning losses and win back town hall on Monday for affected teams,
investors. which included Shopee’s marketing as well “This was a very difficult decision to
as operations units. make,” management said in the memo. “In
The Singapore-based company will general terms, we will offer a fair package
begin notifying affected staff Monday “These changes are part of our ongo- for employees who part with us and pro-
at its cash-burning e-commerce arm, ing efforts to optimise operating efficiency vide assistance where needed.”
according to an internal memo seen by with the goal of achieving self-sufficiency Read the full story
Bloomberg News. The 3% cut in Indo- across our business,” Shopee said in an
nesia aligns with layoffs of a low-sin- e-mailed statement, without elaborating.
gle-digit percentage across the division,
a person familiar with the matter said,
asking to remain anonymous discussing
internal actions.

Shopee is one of Sea’s two major busi-
nesses, alongside a gaming arm that pop-
ularized the mobile hit “Free Fire”. The

SEOUL (Sept 19): South Korean prose- Do Kwon at risk the wreckage to see how to avoid a repeat.
cutors have signalled that Do Kwon, the of Interpol red In South Korea, earlier ardor for crypto is
progenitor of a US$60 billion (RM273 notice as net being usurped by growing disdain.
billion) cryptocurrency wipeout, is at risk
of an Interpol red notice and trying to tightens Kwon tweeted over the weekend that he
evade redress over a meltdown that roiled did not “have anything to hide” and was
digital assets. by Hooyeon Kim & Sangmi Cha in “full cooperation” with officials but did
Bloomberg not publicly reveal his location.
“We are in the process of it,” the prose-
cutors office said on Monday, when asked bloomberg “We are in the process of defending our-
whether it has made a request for Interpol selves in multiple jurisdictions — we have
to step in. A red notice seeks assistance held ourselves to an extremely high bar of
from law enforcement globally to make integrity, and look forward to clarifying the
an arrest. truth over the next few months,” he also
said on Twitter.
Kwon had moved from South Korea to
Singapore, where his now collapsedTerra- However, the Yonhap News Agency in
form Labs project had a base, but the city a report cited prosecutors as saying that
state said he was no longer there. Kwon’s Kwon was not cooperating with probes
location is unclear and he denies being and had told investigators via an attorney
on the run even as prosecutors in Seoul that he had no intention of appearing be-
seek his detention for allegations including fore them for questioning.
breaches of capital-markets law.
Kwon faces arrest in South Korea along
There had been “circumstantial evi- with five others over theTerra unravelling.
dence of escape” ever since he left for Sin- Officials could cancel his passport, which
gapore, and that is why an arrest warrant in theory would require him to return to
was issued in the first place, the prosecu- Seoul within 14 days of receiving the no-
tors’ office said earlier. tice of revocation.

The implosion of the TerraUSD algo- He has a Singapore employment pass
rithmic stablecoin and its sister token Luna that is due to expire on Dec 7 and an ap-
sparked huge losses in crypto markets, plication for another pass is pending, gov-
which were already reeling from tighten- ernment records showed.
ing monetary policy. Digital assets have yet
to recover and regulators are pouring over Wanted crypto developer Do Kwon. Read the full story

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world

Asian farmers tepid and prices high for a while yet, said Bloomberg
plant to boost a New Delhi-based dealer with a global
palm oil output, trading firm. Morgan Stanley
seedling shortage quant sees
“As the productive trees are chopped, capitulation
slows pace production growth will remain negligible
for a few years,” said the dealer. “Replant- risk rising for
by Rajendra Jadhav, Mei Mei Chu ing will support palm oil prices for the equities
& Bernadette Christina next few years.”
Reuters by Abhishek Vishnoi
Seed shortage Bloomberg
MUMBAI/KUALA LUMPUR/JAKARTA Oil palm nurseries will struggle to ramp
(Sept 19): Farmers across Asia are busy up output overnight to meet strong de- SINGAPORE (Sept 19):The odds
planting trees to boost palm oil production mand as it takes more than a year to make of capitulation in stock markets are
but nurseries are struggling to keep up with a seedling. rising, with macro hedge funds pric-
demand for sprouts and seedlings, risking ing in a more extreme scenario for a
a delay in the industry’s recovery from the “We can increase our capacity but it global sell-off, according to Morgan
Covid-19 pandemic. will take time... it will at least take one year Stanley’s quant strategists.
before you can get [a] germinated seed.
The seedlings shortfall could slow The shortage cannot be resolved fast,” Global macro investors are ex-
plantation, capping production growth said Datuk Dr Ahmad Parveez Ghulam pecting elements of market disloca-
and keeping palm oil prices elevated, Kadir, director general of Malaysian Palm tion, as they remain “net short on
industry officials said, as the world al- Oil Board (MPOB). equities, and are targeting a tactical
ready grapples with lofty inflation. Asia risk [for the US terminal rate to go
produces more than 90% of the world’s Industry officials estimate Malaysia has beyond 5% and for the US treasury
cheapest edible oil used in cooking, bak- the capacity to produce up to 80 million 10Y yield to go beyond 4%]”, strat-
ing and cosmetics. germinated sprouts a year and Indonesia egists including GilbertWong wrote
200 million sprouts. in a note. “Being overweight cash is
The production growth of palm oil the best way to hedge.”
stalled in recent years, partly due to labour Indonesia, however, can currently only
shortages during the Covid-19 pandem- produce half of that amount, or 110 mil- Funds are targeting Asia/EM and
ic, but farmers are now looking to replant lion per year, said Hasril Hasan Siregar, US equity valuations to decline 5%-
or expand plantations amid rising prices. head of research and productivity improve- 6% from current levels, which im-
ment at Indonesian Palm Oil Association plies the MSCI Emerging Market
The demand surge comes as supply for (GAPKI). Index at a near bear case target of
germinated sprouts, used to make seed- 890 and a new year-to-date low of
lings, has fallen as oil palm nurseries scaled Meanwhile, Indonesia uses around 95% 3,600 for the S&P 500 Index, ac-
down production during the pandemic to of the seedlings it produces to meet do- cording to the US investment bank’s
adjust to weaker demand. mestic demand and exports only around calculations.
5%, Siregar said, forcing importers such
Traditional growers Indonesia and Ma- as India and Myanmar to rely on Malaysia Wong and his colleagues advise
laysia, which account for more than 80% and Thailand. investors to “to stay defensive until
of the global palm oil output, are focusing capitulation” occurs. They recom-
on replacing old oil palm trees that are Indeed, demand for Malaysia’s ger- mend adding quality growth stocks
cumbersome to harvest and less produc- minated seeds surged 30% in Jan-Aug amid any sell-off and avoid shares
tive, while India and Thailand are trying 2022 period from a year ago to nearly 38 with attributes of low quality and
to expand acreage, industry officials said. million seeds, according to data compiled unprofitable growth.
by the MPOB. For Indonesia’s sprouts, Read the full story
“A number of big Malaysian estates demand jumped nearly 24% over the
[have decided] they want to replant, caus- same period.
ing a shortage of availability of seedlings
in the market,” said Tan Kim Tun, a Ma- Demand for Malaysia’s germinated
laysian nursery operator based in the state seeds is so high, that some nurseries are
of Johor. having to reject orders, said Tan, adding
that his nursery has a waiting list of around
Global annual palm oil production six months.
growth slowed to 0.5% between 2018 and
2022 from a 4.8% pace in the previous four All of this is causing problems for In-
years, according to data compiled by the dia, which is aiming to rapidly expand its
US Department of Agriculture. oil palm area.

Against this backdrop, palm oil prices “The world needs more and more
hit a record high of RM7,268 per tonne palm oil. For many poor consumers, it’s
this year and remain above the average the only option,” said a Mumbai-based
seen in 2010-2020 despite a big downward dealer with a global trading firm. The
correction recently. dealers declined to be named because
of company policy.
New plants take four years to grow be-
fore harvest, meaning production will stay India needs 20 million sprouts in 2022
but only 75% of that demand has been
met by imports from Indonesia, Malay-
sia, Thailand and Costa Rica so far this
year, said an official withTS Oilfed, India’s
biggest importer of oil palm sprouts, who
declined to be named because of compa-
ny policy.

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world

Xi’s heir is likely among China’s rising
‘luckiest generation’

by Krystal Chia bloomberg
Bloomberg

(Sept 19):The spotlight at China’s leadership “This is a very important generation. many of whom have led flagship enterpris-
congress next month will fall on the elite line- They’ll be the ones who run up against es or major financial institutions.
up installed to steer the world’s No. 2 econ- a potential power transition,” said Victor
omy. But another lesser-watched group will Shih, an associate professor at the Univer- Liu Hongjian, 49
also advance, and an eventual successor to sity of California San Diego who research- Liu became the youngest member of a pro-
President Xi Jinping is likely among them. es elite Chinese politics. “Their mentality vincial party standing committee when pro-
could be a bit more open to the world at moted to lead a government legal affairs unit
They’ve been called the Luckiest Gen- just the right time.” in 2021. Previously, he worked in Fujian for
eration: Communist Party cadres born in almost two decades, overlapping with Xi who
the 1970s.They missed both the Mao Ze- The ’70s generation will ascend to Chi- was posted there from 1985 to 2002. Sever-
dong era, which unleashed havoc on ed- na’s leadership ranks during a period in al officials promoted under Xi have crossed
ucation and the economy, and the high which the country could finally overtake the career paths with the top leader.
unemployment levels and housing crises US as the world’s largest economy, even as
facing today’s graduates. growth slows and population decline takes Liu Qiang, 51
hold.They’ll likely be in charge of key regions Before becoming Shandong province’s vice
Instead, China’s startling economic rise and agencies in the latter part of this decade, governor, Liu racked up 25 years in the
carried them into university and to the top when American military commanders esti- financial sector as head of the Agricultur-
of industries from finance to commodities. mate Xi will achieve the capability to take al Bank of China Ltd’s Shanghai branch
They built careers during a brief window action across theTaiwan Strait. and a vice president at Bank of China Ltd
of internet freedom, economic integration In March, he became party chief of Jinan,
through theWorldTrade Organization and Still, their relatively easy success could capital of Shandong province that lies half-
global mobility — freedoms Xi has con- have given them “above average” expec- way between Beijing and Shanghai.
stricted with censorship, trade actions and tations about the party’s ability to enrich
Covid border closures. society, leading them to endorse more state Shi Guanghui, 52
control and opposition toWestern values, Shi has about 30 years of experience working
More than 100 of the ’70s generation said Fei-Ling Wang, professor at Sam in Shanghai, at first for a state-owned steel
already occupy senior positions across prov- Nunn School of International Affairs at producer, then later as vice mayor. He was
inces and ministries. As Xi moves towards the Georgia Institute ofTechnology. “They promoted to Guizhou deputy party secretary
a landmark third term at the party’s twice- only have memory of the good years,” he earlier this year, becoming the second 1970s
a-decade congress, they’ll march closer to said. “Until, of course, very recently.” leader to hold that level role after Zhuge.
power. They’ll comprise some 10% of the
370-odd members on the next Central Com- Here are five officials to watch: Guo Ningning, 52
mittee, mostly as alternates, according to One of the few female 1970s leaders, Guo
Cheng Li, a scholar at the John LThornton Zhuge Yujie, 51 worked for the Bank of China in Hong
China Center atThe Brookings Institution. In March, Zhuge became the youngest Kong and Singapore, and was vice pres-
deputy party secretary in the country, as ident at the Agricultural Bank of China,
‘Luckiest generation’ by numbers: right-hand man to Shanghai party chief before entering politics. Now vice gover-
1. 108 at vice-provincial, vice-ministerial Li Qiang — a long-time Xi associate.The nor of Fujian, she’s also media savvy. For a
financial hub where Zhuge was born and 2020 campaign to promote local seafood,
levels raised has traditionally been a springboard Guo feasted on eels in a live video that at-
2. Median age is 51 to high office. Xi is a former Shanghai par- tracted more than one million viewers on
3. 90% are Han Chinese ty secretary. Zhuge worked in state-owned e-commerce platform Taobao.
4. 34% majored in engineering as under- enterprises before entering politics, a career
path common among the 1970s cohort,
graduates
5. At least 23 studied abroad, either as vis-

iting scholars or degree candidates
6. At least one is vice governor in each

province
7. Only two sit on Central Committee,

both as alternates
Source: Brookings Institution

If Xi keeps age caps for everyone but
himself as widely expected, leaders born
in the ’60s will retire over the next dec-
ade.That would clear a path for the ’70s
cohort to join the powerful Politburo. Xi
himself will be 79 if he reaches the 2032
congress as party leader, older than any
previous general secretary.

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world

Stagflation-free Asian markets are
leaving taper tantrums behind

(Sept 19): Emerging Asian markets are reap- by Garfield Reynolds, Marcus Wong — public and private debt has increased
ing the rewards of years of building up for- & Michelle Jamrisko substantially, fiscal spending has increased,
eign-exchange reserves as they become a pre- Bloomberg higher commodity imports are eating into
ferred destination for risk investors. current-account surpluses, and real interest
of 11%, or a global emerging-markets ba- rates are negative, implying less of a buff-
While no market has come through 2022 rometer which dropped over 16%. er against capital outflows,” said Alexander
unscathed, countries from Indonesia to Wolf, the head of Asia investment strategy at
South Korea and the Philippines are bene- That’s led global investors in a pivot back JPMorgan Private Bank in Singapore.
fiting from a quarter-century of preparing for into Asia. India and Indonesia recorded net
a repeat of the turmoil that took place during foreign bond inflows in August, their first Southeast Asia in particular is show-
the Asian financial crisis in the late 1990s. addition in at least six months, while global ing some macroeconomic resilience, with
Even as the dollar rallied, emerging Asia’s funds boosted holdings ofThai debt for the manufacturing purchasing managers indices
currencies are mostly faring better than tra- first time since May. Foreign bond position- signalling expansion across those nations, a
ditional havens, such as the yen and euro. ing has still yet to recover to pre-Covid-19 contrast to the contractions for South Ko-
The region’s bonds are standing out as a rare levels in most Asian economies, suggesting rea andTaiwan.
bright spot in a year that sent global debt lower odds of a capital outflow even if macro
into its first bear market for a generation. conditions tighten again, said Galvin Chia, a Asian manufacturing countries such as
strategist at Natwest Markets in Singapore. South Korea andTaiwan are more exposed
Asia is benefiting from both good man- to China and to the global economic slow-
agement and good luck. Inflation is weaker Swiss Re’s Haegeli pointed to relatively down, said Jon Harrison, the managing di-
than for much of the globe, and local policy- lower factory gate prices in Asia as a key rector for emerging-market macro strategy
makers not only built up record foreign-ex- indicator of a better outlook for the region. atTS Lombard in London.
change reserves, but also have been moderate That’s partly driven by the region’s good
in their deployment. Fiscal prudence and fortune in avoiding the worst of the com- The troubles afflicting North Asia — es-
calm crisis management have been the norm, modity price shocks, because East Asia is pecially the behemoths of China and Japan
and while those reserves have shrunk at the less dependent on energy from Russia or — may be the region’s Achilles’ heel. JPMor-
fastest pace on record, they are still higher wheat from Ukraine. gan’s metrics for judging countries’ vulner-
than they were at the end of the last decade. abilities, based on current account levels,
The foreign-exchange stockpiles Asian foreign-exchange reserves and yield buffers,
“Emerging Asia leads in the race to keep economies built up have helped cushion the show that Thailand and Japan are among
inflation low,” said Swiss Re chief economist impact of this year’s market turmoil, which the weakest, with China, South Korea and
Jerome Haegeli. “Countries that can avoid has spurred the largest equity outflows for at India in the next-weakest tier.
stagflation-like conditions — and we cur- least a decade.There has been some alarm
rently think most of Asia will — could gain as the reserves were drawn down, but they Seven out of 30 major economies were
competitiveness.” are still above where they stood at the end found to be less vulnerable to hard landings,
of 2019. Emerging Asia’s combined hold- and those in Asia include Indonesia, Malay-
Year-to-date performance may have given ings are at US$2.6 trillion (RM11.83 tril- sia,Taiwan, the Philippines and India, write
some vindication to bullish emerging Asia lion), after peaking above US$2.8 trillion Nomura analysts including Rob Subbara-
investors. A Bloomberg index of emerging in October. man in a Sept 13 note.
Asia bonds registered total losses of around
9% this year, comparatively better than a “Over the last year, external buffers that To be sure, China’s pursuance of a Covid
gauge of US Treasuries, which saw losses were built up have been heavily depleted zero strategy has weighed on the domestic
outlook, as well as on demand for exports
from the region. Part of this weakness has
been seen in the weakening yuan, which
crossed the key psychological level of seven
against the dollar last week. But China has
pursued fiscal and monetary easing to soften
any potential hard landing in the economy,
with recent August industrial production,
retail sales and fixed-asset investment data
showing nascent signs of a recovery.

“Asia still has the buffers to weather the
storm,” said Jin Yang Lee, an investment
manager for sovereign debt at abrdn plc in
Singapore. He sees opportunities in Malay-
sian, Indian and Chinese debt, along with
pockets of the South Korean market. “In
general, Asia has been much more prudent
in their policy settings vis-a-vis structural
changes in their economies.”

Read the full story

T U E S d a y S E P T E M B E R 2 0 , 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

world

Frugal is the new cool for young
Chinese as economy falters

BEIJING (Sept 19): Before the pandem- by Albee Zhang & Tony Munroe A woman in her 20s in the eastern city
ic, Doris Fu imagined a different future Reuters of Hangzhou, who uses the handle Lajiang,
for herself and her family: new car, bigger has gained hundreds of thousands of follow-
apartment, fine dining on weekends and Bloomberg ers posting more than 100 videos on how to
holidays on tropical islands. make 10 yuan (US$1.45) dinners on lifestyle
bank savings in the first eight months of app Xiaohongshu and streaming site Bilibili.
Instead, the 39-year old Shanghai mar- the year, up from 6.4 trillion yuan in the
keting consultant is one of many Chinese in same period last year. In one minute-long video with nearly
their 20s and 30s cutting spending and sav- 400,000 views, she stir-fries a dish made
ing cash where they can, rattled by China’s That is a problem for China’s econom- from a four-yuan basa fillet, five yuan of fro-
coronavirus lockdowns, high youth unem- ic policymakers, who have long relied on zen shrimp,and two yuan of vegetables,using
ployment and a faltering property market. increased consumption to bolster growth. a pink chopping board and pink rice cooker.

“I no longer have manicures, I don’t China is the only leading economy that Social media discussions have sprung up
get my hair done anymore. I have gone cut interest rates this year, in an effort to to share money-saving tips, such as the ‘Live
to China-made for all my cosmetics,” Fu spur growth. China’s big state-owned off 1,600 yuan a month challenge,’ in Shang-
told Reuters. banks cut personal deposit rates on Sept. hai, one of China’s most expensive cities.
15, a move designed to discourage saving
This new frugality, amplified by social and boost consumption. Yang Jun, who said she was deep in cred-
media influencers touting low-cost lifestyles it card debt before the pandemic, started
and sharing money-saving tips, is a threat to Addressing the rise in people’s inclina- a group called the Low Consumption Re-
the world’s second-largest economy, which tion to save, a PBOC official said in July that search Institute on networking site Douban
narrowly avoided contraction in the second when the pandemic eases, the willingness to in 2019.The group has attracted more than
quarter. Consumer spending accounts for invest and consume will “stabilize and rise.” 150,000 members.Yang said she is cutting
more than half of China’s GDP. spending and is selling some of her belong-
The PBOC did not respond to Reuters’ ings on second-hand sites to raise cash.
“We’ve been mapping consumer behav- requests for comment; neither did China’s
iour here for 16 years and in all of that time Ministry of Commerce. “Covid-19 makes people pessimistic,”
this is the most concerned that I’ve seen ‘10 yuan dinner’ the 28-year-old said. “You can’t just be
young consumers,” said Benjamin Caven- After years of increasingly ardent consumer- like before, spend all the money you make,
der, managing director of China Market ism fuelled by rising wages, easy credit and and make it back again next month.” She
Research Group (CMR). online shopping, a move toward frugality said she is now out of debt.
brings young people in China closer to their
China’s “zero-Covid” policy — includ- more cautious parents, whose memories of Yang said she has cut out her daily Star-
ing stringent lockdowns, travel restrictions lean years before the economy took off have bucks coffee. Fu said she switched her
and mass testing — has taken a heavy toll made them more inclined to save. makeup powder brand from Givenchy to
on the country’s economy. The govern- a Chinese brand called Florasis, which is
ment’s crackdown on big technology com- “Amid the tough job market and strong about 60% cheaper. French luxury brands
panies has also had an outsized effect on downward economic pressure, young peo- leader LVMH, which owns Givenchy, and
the young workforce. ple’s feelings of insecurity and uncertainty coffee giant Starbucks Corp both said sales
are something they never experienced,” said fell sharply in China in the latest quarter.
Unemployment among people aged 16 Zhiwu Chen, chair professor of finance at
to 24 stands at almost 19%, after hitting a Hong Kong University Business School. China has given no signal on when or
record 20% in July, according to government how it will exit from its zero-Covid policy.
data. Some young people have been forced Unlike their parents, some are making And while policymakers have taken various
to take pay cuts, for example in the retail a show of their thriftiness online. measures in hopes of boosting consumption,
and e-commerce sectors, according to two from subsidies for car buyers to shopping
industry surveys. The average salary in 38 vouchers, far more money and attention has
major Chinese cities fell 1% in the first three been directed towards infrastructure as a way
months of this year, data collated by online of stimulating the economy.
recruitment firm Zhilian Zhaopin show.
Stability has been the key theme for
As a result, some young people prefer China’s policymakers this year, experts say,
to save than splurge. as President Xi Jinping gears up for a third
leadership term at next month’s congress
Retail sales in China rose just 2.7% year- of the ruling Communist Party.
on-year in July, recovering to 5.4% in August
but still well below the mostly 7%-plus levels “In the past, when you had economic
during 2019, before the pandemic. slowdown, consumers were more likely to
feel that government policy is going to fix
Almost 60% of people are now inclined this problem very quickly,” said Cavender
to save more, rather than consume or in- at CMR. “I think right now the challenge is
vest more, according to the most recent when you interview younger consumers they
quarterly survey by the People’s Bank of really don’t know what the future holds.”
China (PBOC), China’s central bank.That Read the full story
figure was 45% three years ago.

Chinese households overall added 10.8
trillion yuan (US$1.54 trillion) in new

T U E S d a y S E P T E M B E R 2 0 , 2 0 2 2 25 T h e E d g e C E O m o r n i n g b r i e f

world

Baltic Exchange shipping updates

A weekly round-up of tanker and dry bulk market (Sept 16, 2022)

Capesize

The Capesize market made a revival this such as the US Gulf, as the week progressed. ing this week.TC1 peaked atWS293.13, after
week, taking fortunes out of the red by ris- Little period activity surfaced but a 63,500- a widely reported fixture was done atWS295
ing the tide on values to be closer to the dwt open Black Sea was heard to have been and the index then dropped back down to the
low-teens level on the 5TC. Far from being fixed for one year in the low US$16,000s. WS287.5 level. Similarly, a run west on an
into smooth-sailing territory yet, the market From the Atlantic, stronger cargo flow saw LR2,TC20 capped out at the US$5,600,000
doesn’t seem quite ready to embrace ever a 57,000-dwt covering a trip delivery US level, then dropped to US$5,450,000. The
strengthening levels, as Friday’s index damp- Gulf redelivery India in the mid US$20,000s. LR1s also followed suit this week, withTC5
ened values down -981 to US$12,599.The Elsewhere, a 55,000-dwt was heard to have climbing to just over theWS240 mark mid-
revival in rates has involved most sectors of been fixed for a trip from the Mediterranean week, then dropping back down into the high
the market, as a surge of cargoes came to to the US Gulf in the low US$20,000s.From WS230s. On a voyage to the UK-continent,
market as charterers feared a last chance sa- Asia, a 58,000-dwt open Singapore fixed a TC8 hopped up to the US$4,700,000 mark
loon situation before rates did a common trip via Indonesia redelivery Philippines at to then resettle at US$4,600,000.The MRs
Capesize blast off.TheTransatlantic C8 rose US$20,000. A 57,000-dwt also open Sin- ofTC17, by comparison, have come off sig-
+223 week on week to close at US$12,417. gapore fixed a trip via Indonesia redelivery nificantly.This is a result of tonnage availa-
The Pacific region had to contend withTy- China in the low US$19,000s. bility increasing across the week, the index
phoon Muifa this week, as it caused disrup- Handysize lost 106.66 points to end up atWS411.67.
tion to vessel schedules off the coast of Chi- A week of positivity across both basins. East
na, particularly Shanghai.The Transpacific Coast SouthAmerica continued to make large In the West, the LR2s have seen some
C10 closed the week of Friday down -3327 gains, as sources spoke of more enquiry and good activity this week. TC15 has add-
to US$12,559.The sentiment in the Cape- a lack of prompt tonnage being significant ed US$104,167, bringing the index up to
size market has clearly improved with many factors.A 36,000-dwt was rumoured to have US$4,487,500 by the end of the week. The
optimistic for further lifts from here. been fixed for a trip from Recalada to North LR1s ofTC16 have been relatively subdued and
Panamax Brazil at US$19,000 in the early part of the the benchmark lost 8.93 points toWS216.43.
The Panamax market began the week on a week and levels are believed to be in the low
firm footing, with the continued bullish trend US$20,000’s, as the week drew to a close.The MRs on the UK-Continent saw con-
carrying on from the back of last week’s push. US Gulf also saw more activity,with a 39,000- sistent fixing activity this week pushing
The Atlantic was mostly EC South America dwt being fixed from Port Canaveral to the fixing rates upwards. TC2 surged 51.11
centric with both September and October ar- UK-Continent range, with an intended cargo points to WS284.44 and likewise, TC19
rivals getting snapped up in the early part of of wood pellets at US$17,000.In the Mediter- appreciated to WS293.57 (+52.5).
the week. Similarly in Asia, with support for ranean, a 35,000-dwt fixed from Iskenderun
both NoPac grains and Australia minerals, toWest Africa with an intended cargo of steels In the US-Gulf, the MRs were fiery ear-
this gave some impetus to the market Mon- at US$17,000. In Asia, there were small gains ly in the week, with sentiment and activity
day/Tuesday.With healthy Indonesia demand in most regions, with sources saying they had driving rates upwards only to then recorrect
continuing in Southeast Asia positions, there seen more enquiry this week. A 28,000-dwt back down.TC14 settled atWS287.5 end of
was good demand from all angles. Howev- fixing from Singapore via Western Australia the week, after reaching WS305. Similarly,
er, come midweek, with a host of fixing and to Japan was fixed at US$17,500. TC18 reachedWS408.33 to then end up at
failing in both basins owing to an FFA sell Clean WS388.33. At these levels,TC14 is achiev-
off, the market appeared exposed once more Middle East Gulf LR CPP freight climbed ing a round-trip TCE of over US$30,000 /
with tonnage count building again in the At- early on and then began to fall, after plateau- day andTC18 US$48,000 /day.
lantic. Meanwhile, something of a stand-off
ensued in the Pacific, with neither side willing Handymax’s in the Mediterranean saw
to concede. Period activity increased early a resurgence this week, with TC6 gaining
part on the back of a firm spot market, with 30.63 points to WS218.13. In the Baltic,
a smattering of short period deals around the TC9 dropped to WS326.79 (-14.64).
US$17,000-US$18,000 mark. Read the full report
ULTRAMAX/SUPRAMAX
It has been mixed fortunes, as stronger rates
were seen in Asia at the beginning of the
week. However, as the week closed, some
participants said pressure eased a little, as
limited fresh enquiry entered the market.The
opposite might be said for the Atlantic, which
saw positive momentum gain from key areas

T U E S d a y S E P T E M B E R 2 0 , 2 0 2 2 26 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 3,700.00-83.00 OIL US$89.14-2.21 RM/USD 4.5505 RM/SGD 3.2255 RM/AUD 3.0377 RM/GBP 5.171 RM/EUR 4.5373

Top 20 active stocks

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

Top Glove Corp Bhd 110.70 -0.060 0.705 -72.78 5,645.2

Metronic Global Bhd 94.00 0.000 0.020 -83.62 30.6

SNS Network Technology Bhd 60.50 -0.005 0.295 0.00 475.8

XOX BHD 49.40 0.005 0.020 -33.33 101.0

Hartalega Holdings Bhd 41.30 -0.110 1.490 -74.00 5,092.0

Widad Group Bhd 40.10 0.000 0.350 -4.11 963.4

My EG Services Bhd 37.00 -0.025 0.825 -22.90 6,088.1

Velesto Energy Bhd 36.70 0.000 0.115 -4.17 944.8

Dagang NeXchange Bhd 30.40 -0.015 0.810 6.58 2,556.6 World equity indices

CSH Alliance Bhd 29.70 -0.005 0.035 -63.16 48.3

CIMB Group Holdings Bhd 27.50 0.050 5.420 -0.55 56,770.5 CLOSE CHANGE CHANGE CLOSE CHANGE CHANGE

NWP Holdings Bhd 25.00 -0.005 0.240 -2.04 129.4 (%) (%)
DOW JONES 30,822.42 -139.40 -0.45 INDONESIA 7,195.49 26.62 0.37
Kumpulan Jetson BHD 24.70 -0.005 0.240 14.29 64.3

Umedic Group Bhd 23.70 -0.045 0.755 0.00 282.3 S&P 500 3,873.33 -28.02 -0.72 JAPAN 27,567.65 -308.26 -1.11

Aimflex Bhd 23.10 -0.005 0.155 6.90 227.7 NASDAQ 100 11,861.38 -66.11 -0.55 KOREA 2,355.66 -27.12 -1.14

Public Bank Bhd 21.80 -0.020 4.450 6.97 86,377.6 FTSE 100 7,236.68 -45.39 -0.62 PHILIPPINES 6,437.42 -111.35 -1.70

Supermax Corp Bhd 21.80 -0.020 0.710 -51.70 1,883.2 AUSTRALIA 6,719.92 -19.16 -0.28 SINGAPORE 3,256.31 -11.98 -0.37

Orgabio Holdings Bhd 19.30 -0.025 0.370 0.00 91.7 CHINA 3,115.60 -10.80 -0.35 TAIWAN 14,425.68 -136.08 -0.93

Hibiscus Petroleum Bhd 18.20 -0.060 0.970 19.02 1,952.0 HONG KONG 18,565.97 -195.72 -1.04 THAILAND 1,631.57 1.17 0.07

Cengild Medical Bhd 18.10 -0.035 0.460 0.00 376.6 INDIA 59,141.23 300.44 0.51 VIETNAM 1,205.43 -28.60 -2.32

Data as compiled on Sep 19, 2022 Source: Bloomberg Data as compiled on Sep 19, 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)

Anzo Holdings Bhd 0.015 50.00 2,494.8 -50.00 16.7 Nexgram Holdings Bhd 0.005 -50.00 687.0 -50.00 22.1

BCM Alliance Bhd 0.020 33.33 535.8 -33.33 40.7 Pegasus Heights Bhd 0.005 -50.00 180.0 -50.00 54.1

Berjaya Land Bhd 0.250 8.70 2,759.3 11.11 1230.1 AT Systematization Bhd 0.010 -33.33 1,657.1 -66.67 60.0

Bina Puri Holdings BHD 0.035 16.67 903.0 -22.22 55.9 Impiana Hotels Bhd 0.015 -25.00 681.5 -80.00 21.7

Borneo Oil Bhd 0.025 25.00 7,328.0 -16.67 212.3 PUC BHD 0.020 -20.00 1,166.5 -86.21 32.5

Chin Hin Group Property Bhd 1.020 9.09 4,308.1 13.33 476.5 Serba Dinamik Holdings Bhd 0.025 -16.67 1,877.0 -92.86 92.7

CN Asia Corp BHD 0.260 13.04 2,958.1 -45.26 48.6 PDZ Holdings Bhd 0.030 -14.29 63.7 -33.33 17.4

CYL Corp BHD 0.515 22.62 894.9 9.57 51.5 Key Asic Bhd 0.030 -14.29 1,037.4 -57.14 40.9

Dolomite Corp Bhd 0.020 33.33 50.0 -33.33 11.8 S&F Capital Bhd 0.060 -14.29 0.5 -33.33 33.0

Ea Technique M Bhd 0.070 55.56 16,490.4 -12.50 37.1 Top Builders Capital Bhd 0.030 -14.29 2,212.8 -14.29 21.2

Handal Energy Bhd 0.150 7.14 47.0 -25.00 36.1 XOX Technology Bhd 0.030 -14.29 160.5 -40.00 26.8

LKL International Bhd 0.040 14.29 371.8 -42.86 38.9 Landmarks BHD 0.190 -13.64 30.0 -34.48 127.6

Meridian Bhd 0.025 25.00 2,931.2 -61.54 22.6 Innity Corp Bhd 0.380 -13.64 54.9 -17.39 53.0

PCCS Group BHD 0.680 7.94 6,660.7 54.55 146.5 Fitters Diversified Bhd 0.065 -13.33 348.0 -79.37 39.5

PNE PCB BHD 0.050 11.11 242.1 -41.18 28.0 CSH Alliance Bhd 0.035 -12.50 29,739.0 -63.16 48.3

Privasia Technology Bhd 0.075 15.38 4,277.7 -21.05 46.1 Reach Energy Bhd 0.035 -12.50 423.0 -41.67 38.4

Sapura Energy Bhd 0.045 12.50 9,576.4 -10.00 719.1 BTM Resources BHD 0.105 -12.50 20.0 -36.36 18.0

Scomi Energy Services Bhd 0.030 20.00 2,224.5 -45.45 14.0 Silver Ridge Holdings Bhd 0.075 -11.76 46.7 -63.41 14.7

Trive Property Group BHD 0.050 11.11 4.3 66.67 63.2 SHH Resources Holdings BHD 0.675 -11.76 319.50 46.74 67.5

Vsolar Group Bhd 0.010 100.00 1,231.7 -33.33 48.3 Eversafe Rubber Bhd 0.195 -11.36 180.2 -26.42 46.9

Data as compiled on Sep 19, 2022 Source: Bloomberg Data as compiled on Sep 19, 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)

Nestle Malaysia Bhd 130.000 1.300 105.2 -3.13 30,485.0 PPB Group Bhd 16.340 -0.700 943.2 -4.44 23,245.3

Petronas Gas Bhd 16.820 0.320 721.6 -6.00 33,282.3 Dutch Lady Milk Industries 31.400 -0.700 14.1 -6.32 2,009.6

United Plantations BHD 14.880 0.300 189.3 8.57 6,149.9 Malaysian Pacific Industries 29.100 -0.500 115.5 -41.05 5,787.9

Bintulu Port Holdings Bhd 5.250 0.150 0.1 9.37 2,415.0 Fraser & Neave Holdings Bhd 21.900 -0.420 28.8 -11.48 8,032.4

DKSH Holdings Malaysia Bhd 4.800 0.120 163.8 0.00 756.8 Panasonic Manufacturing 24.820 -0.380 14.6 -14.12 1,507.7

Hextar Global Bhd 1.790 0.100 4,010.0 13.29 2,301.5 Batu Kawan Bhd 21.860 -0.340 5.2 -3.70 8,603.3

Petronas Dagangan Bhd 21.360 0.100 271.0 3.69 21,220.2 AEON Credit Service M Bhd 13.600 -0.320 47.9 0.21 3,472.2

CYL Corp BHD 0.515 0.095 894.9 9.57 51.5 Press Metal Aluminium 4.430 -0.290 7,253.8 -23.36 36,501.5

Westports Holdings Bhd 3.310 0.090 5563.1 -18.27 11,287.1 Kotra Industries Bhd 4.460 -0.220 27.9 41.14 660.0

Chin Hin Group Property Bhd 1.020 0.085 4,308.1 13.33 476.5 HAP Seng Consolidated Bhd 6.650 -0.210 793.3 -13.64 16,556.3

Hong Leong Financial Group 18.900 0.080 209.5 9.00 21,645.1 Hengyuan Refining Co Bhd 4.430 -0.190 1,404.7 14.47 1,329.0

Rapid Synergy Bhd 13.740 0.060 7.9 38.09 1468.8 British American Tobacco 10.300 -0.180 181.7 -26.32 2,941.0

CIMB Group Holdings Bhd 5.420 0.050 27,453.9 -0.55 56,770.5 ViTrox Corp Bhd 7.430 -0.170 161.9 -25.40 7,018.7

PCCS Group BHD 0.680 0.050 6,660.7 54.55 146.5 Hong Leong Industries Bhd 9.120 -0.160 2.2 -0.65 2,913.6

Chin Teck Plantations BHD 8.200 0.050 24.7 19.06 749.2 IHH Healthcare Bhd 6.160 -0.160 6,215.1 -16.08 54,245.2

United Malacca Bhd 5.430 0.050 11.5 6.22 1,139.0 Khind Holdings Bhd 3.100 -0.150 9.4 -18.64 130.3

Malayan Banking Bhd 8.630 0.050 10,517.7 3.98 103301.2 Maxis Bhd 3.640 -0.140 2598.2 -24.77 28501.7

Kelington Group Bhd 1.420 0.050 975.4 -17.44 913.1 MISC Bhd 6.990 -0.140 2178.7 -0.85 31201.6

IOI Corp Bhd 3.920 0.040 3531.9 5.09 24352.4 Inari Amertron Bhd 2.680 -0.120 6,456.9 -33.00 9,951.1

Bermaz Auto Bhd 1.940 0.040 2772.4 24.55 2253.5 Hartalega Holdings Bhd 1.490 -0.110 41292.4 -74 5092

Data as compiled on Sep 19, 2022 Source: Bloomberg Data as compiled on Sep 19, 2022 Source: Bloomberg

INSIDE

TELLING IT AS IT IS ‘15 issues New faces

on MA63 page needed to page
outstanding’ win in GE15
2 3

ON TUESDAY SEPTEMBER 20, 2022 IN SYNC ... Cultural artistes

No. 8111 PP 2644/12/2012 (031195) www.thesundaily.my performing a Zapin dance at the Malaysian
Chinese Cultural Festival held at Chung Hua
High School in Seremban on Sunday.
– BERNAMAPIX

█ BY SURAYA ALI Snceawmtmooelrss’
newsdesk@thesundaily.com oFraudsters have software to
read one-time passwords and
PETALING JAYA: A cybersecurity delete SMS sent by banks
expert has warned that
scammers have new tools in their technologies, so the public needs to be redress for customers who have
arsenal that can get around bank aware that one false move such as taken the necessary steps to protect
security systems, and the public must not downloading unverified apps could themselves and have not acted
install any mobile apps that have not cause them to become another victim of fraudulently.
been verified or are from unknown online scams. BNM has been collaborating
sources. with the police, Malaysian
In response to queries from theSun, Communications and Multimedia
Cybersecurity service provider LGMS BNM said it takes all forms of financial Commission and the financial
Berhad chairman Fong Choong Fook told scams seriously. industry to coordinate efforts in
theSun: “New versions of software are combating financial fraud and scams,
now able to read one-time passwords It said over the years, it has issued it added.
and they can even delete the SMS sent by multiple policy documents and security Last week, theSun reported
banks, leading (victims) to believe they advisories to financial institutions on the Malaysia Muslim Consumer
were not given any notification before modus operandi of the latest scams and Association (PPIM) chief activist
fund transfers.” additional countermeasures to be taken. Datuk Nadzim Johan as saying PPIM
has received numerous complaints
He said Bank Negara Malaysia (BNM) “The banking and payment channels from victims of mule
previously issued a mandate calling on all remain secure and are equipped with the accounts and even
banks to perform an annual assessment, latest security controls and fraud risk bankrupts, where the Turn to
during which they run several tests on management capabilities.” culprits have never been
their cybersecurity infrastructure and investigated or faced —
online systems. It said in line with the principles of the
Fair Treatment of Financial Consumers page 3
He said based on these tests, the IT document issued by BNM, it requires all
infrastructure and systems installed by licensed financial institutions to ensure justice.
the banking industry to identify proper communication as well as fair
cybersecurity threats are considered
sound and secure.

“From a cybersecurity perspective,
scammers are unable to penetrate or
change the online banking system.

“Instead, they find ways to attack
(account holders) through mobile apps.
The problem is that Malaysians
download unverified apps, which often
become security threats that steal
information stored on mobile phones.
This is the root of the problem,” he said.

To address this, Fong said the
authorities need to carry out awareness
campaigns on online banking financial
scams.

“Also, the banking industry should
work together to identify and stop the
opening of suspicious accounts at the
early stage, so we can put a halt to illegal
transfers to mule accounts.”

Fong also said scammers are
constantly updating and improvising
their arsenal of cyber tools and

2 theSUN ON TUESDAY | SEPTEMBER 20, 2022
NEWS WITHOUT BORDERS

‘15 issues on MA63 still unresolved’
KOTA SAMARAHAN: According to
Minister in the Prime Minister’s o Health, environment, labour force and He said among the other issues states to regain the percentage of
Department (Sabah and Sarawak ownership rights among matters still under not fully resolved are the review of seats as stated in the Malaysia
Affairs) Datuk Seri Dr Maximus discussion: Minister special grants (Article 112D of the Agreement is achieved.
Ongkili, 15 issues that are being Federal Constitution) for Sarawak
monitored by the Special Council Committee. There are ongoing and petroleum cash refunds). Besides, and the gas and electricity regulatory “The main objective is to return
on the Malaysia Agreement 1963 matters still under discussion. For the issue of additional Sabah and authority of Sabah. the 30-35% rights. The ratio used
(MA63) have still not been resolved. example, the issue of grants under Sarawak parliamentary seats is also by the EC focuses on population
Act 112(1) of the Federal Constitution under discussion,” he told reporters Meanwhile, when asked on and urbanisation, however, the
They include the state’s authority (Increase of Posts) with Sarawak. after attending the 1963 Malaysia whether the ratio for the important thing is that aspirations
over health issues, the remaining Agreement Awareness Forum – MA63: distribution of 35% of parliamentary and terms in the agreement are
legislative authority on the “Discussions have started but there From the Perspective of the Millennial seats in Sabah and Sarawak should returned,” he added.
environment, labour force in Sabah has been no decision yet on how Generation at Universiti Malaysia be maintained irrespective of the
and Sarawak and the release of land much there is to be reviewed Sarawak here yesterday. states’ population, Maximus said it Ongkili also hoped that more
given ownership rights to the regarding the refund (for oil royalties was up to the Election Commission programmes explaining the
federation in Sabah and Sarawak, (EC) as it was still at the discussion formation of Malaysia and the goals
Bernama reported. stage. of MA63 will be held at higher
education institutes, whether in the
“Most have already been passed Ongkili said what is more Peninsular Malaysia or Sabah and
to the MA63 Special Council important is that the goal for the two Sarawak.

Govt mulls further Reezal (third from right) and Fire and Rescue Department director-general Datuk Seri Mohammad Hamdan Wahid (second from right) with other personnel
moratorium for during the opening of a seminar at the Putrajaya International Convention Centre yesterday. – BERNAMAPIX
certain businesses
RM290m approved for fire and rescue facility upgrade
KUALA LUMPUR: The Entrepreneur
Development and Cooperatives Ministry PUTRAJAYA: The government has Building By-Laws 1984 Control, Communications, such as the Swift Water Training
is considering extending the moratorium approved an allocation of RM291.4 (Amendment 2021) seminar here Computers and Intelligent project Simulator, Water Rescue Training
to micro, small and medium enterprise million this year to upgrade all yesterday. to improve the department’s Complex, Highway Emergency
entrepreneurs whose businesses have facilities and increase assets With the allocation, which is to emergency communication and Traffic Accident Rescue
yet to recover post-Covid-19. belonging to the Fire and Rescue be dispersed in stages, the Fire and system, and another RM33.6 and Industrial Fire Fighting
Department, said Housing and Rescue Department will receive million to upgrade its air base Simulator.
However, its minister Tan Sri Noh Local Government Minister Datuk six units of fire and rescue coats office in Subang, Selangor,” Reezal
Omar said the extension of the Seri Reezal Merican Naina worth RM15.5 million, five urban Merican added. Reezal Merican also said the
moratorium would be granted on a Merican. search and rescue robots worth Almost RM40 million has ministry had submitted its wish
case-by-case basis, taking into account RM7.5 million and 150 units of been channelled for the list for next year and hoped that
the needs of the entrepreneurs involved. “The allocation was approved compact fire rescue tender worth implementation of Phase Three of the government would set aside a
by the Finance Ministry RM145.8 million. the Eastern Region Malaysian Fire higher allocation for the Fire and
He said court and bankruptcy cases specifically to ensure that our “A total of RM49 million has and Rescue Academy project, Rescue Department under Budget
against these entrepreneurs will also be fire and rescue services will be been set aside for the which encompasses the 2023, which is scheduled to be
postponed until the end of the year to on par with developed countries,” implementation of the Command, development of training facilities tabled in Parliament on Oct 7.
give them time to restore their businesses he said when opening the Uniform – Bernama
first.
Special grants for films promoting patriotism
“We understand that there may still be
people out there who need a PUTRAJAYA: The government will we want to encourage the with foreign films. provided the producers and
moratorium. They can appeal to us,” he soon establish a fund for the production of various film genres “I am trying to explore the parties involved are ready to do
said after launching the Cashless Halal production of local films that and promote the works of those something out of the ordinary.”
Food Festival at the Bank Rakyat Twin promote patriotism and unity, said with creative ideas,” he told possibility of making it more
Towers here yesterday. Communications and Multimedia reporters after launching the flexible, so Finas (National Film On the 32nd Malaysian Film
Minister Tan Sri Annuar Musa. original soundtrack and trailer of Development Corporation) can Festival to be held in Malacca
Recently, National Recovery Council the film Seratus here yesterday. select films that should be given on Dec 2, Annuar said the event
chairman Tan Sri Muhyiddin Yasin was Annuar said he will hold support (in special grants).” has so far attracted entries
reported to have proposed the move, discussions with the Finance Acknowledging the fact that from 17 production companies
considering that the sector which Ministry to seek a RM50 million film production costs can be high, On whether local films will be abroad.
contributed RM518.1 billion or 37.4% of allocation for the purpose. Annuar said the filmmaking successful or not, Annuar said this
gross domestic product last year had not fraternity must be assisted and would largely depend on the “There will be foreign film
fully recovered. “I feel the film industry must supported from the earliest stage acting, script and marketing producers and directors attending,
be helped further. We cannot only of their projects to ensure they strategy. so this will be a meeting place for
According to Muhyiddin, this sector is rely on the Digital Content Grant are of quality and comparable them with the local film industry
currently burdened with high debts. and Film In Malaysia Incentive as “I believe the local film industry fraternity.” – Bernama
– Bernama can be elevated to a higher level

‘Border security
needs beef-up’

KUCHING: Issues pertaining to
economic and security developments
along the Malaysia-Indonesia borders
must be addressed and beefed up ahead
of the neighbouring country’s move to
shift its capital to the east coast of the
Borneo Island.

Minister in the Prime Minister’s
Department (Sabah and Sarawak
Affairs) Datuk Seri Dr Maximus Ongkili
said Malaysian security forces have
anticipated the impact and effects of the
move (capital), and will push for greater
facilities and additional manpower at
checkpoints at the borders.

“After listening to the security
briefings by the immigration, police and
Sarawak State Security Council, we
found that delayed projects, insufficient
funds and lack of manpower are among
the problems faced by security forces at
the borders, in addition to their existing
challenges,” he said in a statement
yesterday after visiting the Malaysia-
Indonesia Customs, Immigration,
Quarantine and Security border
checkpoint in Tebedu, near here.

Ongkili said the Indonesian
government has acted, and the
Malaysian authorities should do their
part immediately.

“We cannot wait until it is too late to
beef up our borders.” – Bernama

3theSUN ON TUESDAY | SEPTEMBER 20, 2022
NEWS WITHOUT BORDERS

No action taken
against culprits

theSun also reported its executive director
Adam Ong discovered on Aug 31 that his
HSBC credit card had been
blocked by the bank due to
unauthorised transactions.
From Nadzim said despite

front overwhelming evidence that
page mule account owners were

also victims, little or no action
was taken against those who
illegally used the accounts.
In response, HSBC Bank Malaysia Berhad
communications manager Mae Leong said
unauthorised transactions may have been
prompted by those made on non-3D secured
platforms, which do not trigger an SMS
one-time password.
“If a customer receives unauthorised
transactions from a non-secured platform,
they are eligible for a full refund.
“We aim to reverse these transactions with
a temporary refund to the credit card within
18 business days. There is a window of up to
120 days for the chargeback to be filed. We
assure customers that disputed transactions
submitted will be processed accordingly.”
She said HSBC has taken stringent
countermeasures to protect customers from
the risk of fraudulent or unauthorised
transactions.

EXTRATERRESTRIAL ATTRACTION ... Members of a Predators fan club dressed as the alien hunter from the movies during a promotional gathering I will remain with
at Pantai Teluk Chempedak in Kuantan yesterday. – PIC COURTESY OF KELAB GABUNGAN PREDATOR MALAYSIA Umno forever: Khairy

New faces needed to KUALA LUMPUR: Health Minister Khairy
boost prospects in GE15 Jamaluddin yesterday said he was still an
Political analyst Prof Dr Awang Azman Umno member and will remain with the party
o Old guard MPs should make way for dynamic candidates Awang Pawi said some of the old guards “forever”.
with fresh ideas to transform country: Analysts remain undecided whether to contest in
GE15, but those who are at the top of the The Rembau MP denied rumours that
█ BY RAJVINDER SINGH They are there only because they do not want party hierarchy will remain. were generated by a video titled “KJ Keluar
newsdesk@thesundaily.com to make way for younger politicians. Umno! Sah, Keputusan Muktamad Khairy
PETALING JAYA: Replace the old with the He said Umno has decided to have 30% Jamaluddin!” (KJ Quits Umno! Confirmed,
new. That is the opinion of political analysts “Some of the old guards may claim that women and 30% younger people contesting Khairy Jamaluddin’s Final Decision!) that was
theSun spoke to, who said new faces with the people still want them to serve. But in in GE15. posted on YouTube on Sept 14.
new ideas are needed for Malaysia to move truth, it is their supporters who do not want
forward. them to quit as they will not be able to gain “New faces might not mean younger “I don’t like to entertain news like this but
any benefits from the replacements.” people. It will be up to the political party to many have messaged me and asked about it. I
They agreed that the nation needs new determine who they think will best suit their am still with Umno. I had once won the Umno
faces who are dynamic and willing to make Jeniri said the country urgently needs plans. Youth chief post but was not appointed to the
changes to stand in the coming 15th general dynamic leaders who have the willpower to Cabinet and was boycotted, but stuck
election (GE15), instead of MPs who have make changes, and work towards improving “It is important to have MPs who can keep to Umno.
been there for years and are bereft of ideas. the reputation and image of the country by pace with the ever-changing circumstances
being action-oriented and thinking outside and new developments around the world. It “(I faced) all kinds of political persecution,
National Council of Professors senior the box. does not mean they have to be young but but still never left Umno. I lost when I ran for
fellow Dr Jeniri Amir said old guard MPs who they have to be knowledgeable,” said the the Umno president post and was looked
do not perform need to make way for new He added that these new leaders would research fellow at the Universiti Malaya down (upon), but still remained with Umno.
faces, but those who can still do a good job need to be technocrats and experts, and Centre for Democracy and Elections. Even though I have to find a new
should remain. must have the integrity to meet future parliamentary seat (to contest in the 15th
challenges, especially with the fast-paced He said it was likely that about 60% of general election), (it is) still Umno. Do not
He said “new faces” do not necessarily changes that are coming. those contesting in GE15 will be new faces as worry. Then, now, forever (I will be with
mean young people, but those who have political parties will want to attract younger Umno),” he said in an Instagram post.
ideas that can help transform the country. He noted a major problem with the old voters, adding that parties will want to – Bernama
guard is that they think they know what is highlight the new faces to voters to show
“The old guard, especially those who have best for everyone and seldom go to the they are ready to make changes to win Concern over floods
been MPs for more than 30 years, should ground to find out what is happening and them over. during elections
know it is time for them to go as they have no what the people need, adding that for any
more energy or enthusiasm to do the job. policy to be effective, leaders first need to “They must show the expertise that these LABUAN: Arau Umno division chief Datuk
know what the people want. new faces have, as parties such as PKR have Seri Shahidan Kassim said an extensive study
MPs who are seen as very capable of is needed before the 15th general election
attracting young voters although they may (GE15) is held.
no longer be young.”
He said the anticipated floods at end of the
Expansion of duties for park rangers unit year might have an impact on voter turnout.

KUALA LUMPUR: Kuala Lumpur City Hall also responsible for security control, giving the city and at tourist attractions. “There is a need for an in-depth study on
agriculture officers and assistant officers are information about the types of plants to Earlier, Mahadi officiated at the whether we should have the elections this
now called park rangers as part of efforts to visitors and (checking) the health status of the year or the next.
improve the quality of landscape management trees,” he told a press conference yesterday. presentation of letters of appointment to park
services, shade trees and public parks around rangers and also launched a book titled “If Parliament is dissolved and the floods
the capital. He added that the scope of maintenance of Wayside Trees: The Natural Pillars and Roofs hit some states, we would certainly need a
shade trees was also being expanded with the of the Perdana Botanical Garden. caretaker (government) to address flood-
Kuala Lumpur Mayor Datuk Seri Mahadi inspection and treatment of trees at risk as well related issues. As such, there are pros and
Che Ngah said in addition to creating special as an inventory of old trees around the capital The book, published in collaboration with cons in having GE15 this year or next year,” he
uniforms, the scope of work of the unit, under to ensure public safety. the Forestry Research Institute of Malaysia, said at a press conference after presenting the
the Landscape and Recreational Development conatins information on 343 tree species at the appointment letter to the new chief executive
Department, has also been expanded. Mahadi said the duties of park rangers also Perdana Botanic Garden area to facilitate the officer of Labuan Corporation at Menara
include identifying unique and endangered identification and learning process for visitors, Perbadanan Labuan yesterday.
“Now, this unit not only has to manage the tree species for conservation purposes, in in addition to raising awareness and
maintenance of trees and landscaping but is addition to seasonal plants for landscaping in supporting urban forestry efforts. – Bernama Shahidan said six of the seven seats in the
three Federal Territories won by Umno could
still be retained in the coming polls.

He added that Umno members at all levels
must not fail to respond to the negative
elements in the various social media
platforms that could jeopardise the party’s
strength.

“As far as we are concerned, a special team
that is tasked with rebutting slander against
Umno has done its job,” he said. – Bernama

4 theSUN ON TUESDAY | SEPTEMBER 20, 2022 3.2% drop in
NEWS WITHOUT BORDERS new Covid cases

Malaysian appointed chief KUALA LUMPUR: A total of
of global commission 13,627 new Covid-19 cases were
recorded for the 37th
KUALA LUMPUR: Malaysian AIDS o MAF chairman lauded for work on Epidemiological Week (ME
Foundation (MAF) chairman-cum- introduction of humane approach to reduce 37/2022) from Sept 11 to 17
Universiti Malaya Centre of harm associated with drug abuse compared with 14,072 in ME
Excellence for Research on AIDS 36/2022, said Health Director-
(CERiA) director Prof Datuk Dr aligned with the United Nations Adeeba currently co-chairs the WHO maintenance therapy.” General Tan Sri Dr Noor Hisham
Adeeba Kamarulzaman (pix) has Sustainable Development Goals, Science Council and the In welcoming her as its newest Abdullah, adding that the figures
been appointed to the Global Bernama reported. International AIDS Society Lancet indicated a drop of 3.2%.
Commission on Drug Policy as its Commission on Health and Human commissioner, the Global
latest commissioner, making her the The commission is chaired by Rights. Commission on Drug Policy also “The average daily active cases
first Malaysian to hold that former New Zealand prime minister commended Adeeba’s engagement for ME 37/2022 was 26,378, which
distinction. Helen Clark, and includes a “In April 2015, she received an and deep passion for rights-based decreased by 4.1% compared with
distinguished line-up of 26 former Honorary Doctorate of Laws from her public policies as well as her the week before,” he said in a
In a statement yesterday, MAF heads of state, eminent personalities alma mater, Monash University, for formidable work in HIV treatment, statement yesterday on the
said the Global Commission on Drug and opinion leaders such as her outstanding achievements in prevention and care for key current Covid-19 infection
Policy was created in January 2011 by philanthropist-entrepreneur Richard medicine and as a health advocate. populations in Malaysia and globally. situation.
a group of personalities from the Branson and Nobel Laureate Jose
Americas and Europe, including Ramos-Horta. “In the realm of drug policy, Dr Noor Hisham also said there
former heads of state and Adeeba was instrumental in were 31 deaths recorded in ME
government to advocate drug policies According to the statement, influencing the Malaysian 37/2022, which was a drop of 8.8%
based on scientific evidence, human Adeeba served as the first government’s shift in drug policies compared with 34 cases the week
rights, public health and security. International AIDS Society Asian that led to the introduction of harm before.
president and was the co-chair of the reduction programmes in 2006 to
Its main purpose is to bring to the World Health Organisation (WHO) prevent HIV infections among people On the number of recovery
international level informed, science- Strategic and Technical Advisory who use drugs, such as the cases, he said it was also lower by
based discussions on humane and Committee on HIV. needle and syringe exchange 16%, with 14,513 cases for ME
effective ways to reduce the harm programme and methadone 37/2022 compared with 17,286 the
caused by drugs and drug control The statement also said that week prior.
policies to people and societies,
including achieving a significant On admissions of Covid-19
reform of the drug control system patients at public hospitals for
every 100,000 population in ME
TIMELESS CAFE ... Visitors 37/2022, Noor Hisham said there
to Penang’s Warung Karat in was a drop of 6.7% for Category
Jalan Shaikh Eusoff not only get One and Two patients while there
to enjoy a good cuppa, but also was no change for categories
a large collection of antique Three, Four and Five.
items displayed by its owner
Mohd Razman Mohammed “The percentage of Covid-19
Sidek. – BERNAMAPIX bed occupancy showed a fall of 1%
for non-critical beds while beds at
RM3m aid provided to Johor heart patients intensive care units and Low Risk
Covid-19 Treatment Centres
JOHOR BARU: The state medical devices such as pacemakers, press after an engagement session at all mosques and surau (are situated fell by 2%.
government, via the Johor State follow-up visits and registration. the Kampung Melayu Majidee in areas that) have broadband
Islamic Religious Council, has Mosque yesterday. coverage.” “There was no change to the
channeled over RM3 million to the “Last year, RM429,400 was spent percentage of Covid-19 patients
Johor Heart Patient Fund between on 128 patients and as of August this He also said beginning next year, On Johor Budget 2023, Mohd on ventilators as well,” he said,
2017 and August this year to ease the year, we have spent RM309,629 on 93 the state government will provide free Fared said more allocations are adding that the number of positive
burden on Johoreans seeking patients. Johor residents in need of Wi-Fi at mosques, surau and religious needed next year for the cases monitored by the Covid-19
treatment at the National Heart treatment can apply through the schools in the state. development of education, mosques Assessment Centre nationwide
Institute (IJN). council or IJN’s Patient Financial and surau, which is the state’s was also lower.
Management Division,” he said, The project, to be carried out in priority.
State Islamic Religious Affairs adding that the aid is especially for stages, would involve 120 mosques On the infectivity rate, Noor
Committee chairman Mohd Fared the asnaf (eligible tithe recipients) and surau as well as 130 religious He added that focus would also be Hisham said it increased to 0.96 in
Mohd Khalid said the aid covered the and low-income groups. schools. on empowerment of the Mufti, ME 37/2022 compared with 0.92
cost of treatment, including surgery, Justice and Prosecution departments. the week before. – Bernama
Mohd Fared was speaking to the “The Wi-Fi installation will also – Bernama
depend on the location because not Jungle search
yields prized
Largest globe-shaped artificial reef planted bounty

KUALA NERUS: Universiti UPSI vice-chancellor Prof Datuk of the Fisheries Department and demonstrate the alumni members’ GUA MUSANG: Orang Asli
Pendidikan Sultan Idris (UPSI) Dr Md Amin Md Taff said the three- other agencies in the preservation love for the university. Zakaria Abdullah can now afford a
alumni has successfully secured a metre high globe, weighing over a and conservation of coral reefs in the broad smile after his hard work in
spot in the Malaysia Book of Records ton, was built and lowered by 10 marine park area, which was “We hope that this effort inspires searching deep inside jungles for
by building the largest globe alumni members to a depth of 11m destroyed by the tropical storm other alumni members to also the Raja Kayu (King of Wood)
structure at the Redang Marine Park on the seabed. Pabuk in January 2019. contribute and further enhance the finally paid off, giving him a
Centre. name of the university,” he said in a handsome income.
He said it aims to help the efforts “This effort is also a dedication to statement yesterday. – Bernama
The 55-year-old from the Batek
tribe said Raja Kayu contains
various properties used for
traditional treatment, and could
also be used for wood carvings.

He said such forest products
are usually sold to buyers in
Kuantan, Pahang, for between
RM15 and RM20 per kg.

“I will process the wood before
sending them to the buyers. To get
100kg, I sometimes have to stay in
the forest for up to two weeks,” he
told reporters when met at his
house in Kampung Pasir Linggi,
Pos Lebir.

Zakaria added that he is often
assisted by his son, who goes with
him into the forest along the
Kelantan-Terengganu border to
collect Raja Kayu logs.

He said the trunk of the Raja
Kayu tree must first be scraped to
obtain the core, which is highly
sought by wood buyers.

The processing of each log
takes about six hours to ensure
that all the outer layers are
completely scraped off. – Bernama

5theSUN ON TUESDAY | SEPTEMBER 20, 2022

6 theSUN ON TUESDAY | SEPTEMBER 20, 2022
NEWS WITHOUT BORDERS

The nine boarding school students leaving the court after they were charged. – BERNAMAPIX Nine students
charged over bullying

KEMAMAN: Nine male students at a boarding
school in Kemaman were charged in the
magistrate’s court here yesterday for causing
hurt to three schoolmates last month.

The accused, all aged 16, pleaded not guilty
when the charges were read to them before
magistrate Tengku Eliana Tuan
Kamaruzaman.

According to the charge sheet, the students
are alleged to have deliberately caused injury by
punching and kicking three victims, all aged 15,
at the secondary school’s dormitory at 11.30pm
on Aug 23.

They were charged under Section 323 of the
Penal Code, which provides for a prison
sentence of up to one year or a maximum fine of
RM2,000, or both.

Deputy public prosecutor Nor Azhani
Azman prosecuted while the accused were
represented by lawyer Akmal Wahidah Abd
Halim.

The court allowed bail of RM2,000 and
RM5,500 each and set Oct 12 for mention and
the submission of documents. – Bernama

Trailer driver Ensuring flight safety
killed in
predawn crash o Aircraft operators, owners must comply He said for GIAAN Flying it meets the safety standards.
with CAAM Safety Management System Academy to have a safe flight “A licensed aircraft engineer
IPOH: The driver of a trailer requirements , says flying academy chairman training operation, an approved
carrying rubbish died after the maintenance organisation (AMO) may make maintenance repairs,
vehicle he was driving crashed at █ BY RAJVINDER SINGH (CAAM) Safety Management is contracted to ensure the aircraft troubleshoot problems on aircraft
Km257 northbound of the North- newsdesk@thesundaily.com.my System (SMS) requirements. is maintained in accordance with systems, conduct inspections and
South Expressway after the PETALING JAYA: While they are CAAM requirements. make upgrades to aircraft parts or
Menora Tunnel yesterday. rare, airplane and helicopter He said the SMS has been its structure to ensure its
crashes happen from time to time adopted and practised globally “These AMOs are required by continued airworthiness.
A Perak Fire and Rescue throughout the world. And under the International Civil law to employ personnel with
Department spokesman said the sometimes, lives are lost, as in the Aviation Organisation (ICAO) specific licences and type ratings “The mechanics of aircraft
department received a call on the latest helicopter crash in Bidor, Annex 19 – Safety Management. to certify that the aircraft is safe. maintenance involve several
accident at about 5.40am and Perak, on Sept 8 that took the life things,” he said.
firefighters from the Kuala of its pilot. So, what safety Sirajudin said the main “Adherence to the routine
Kangsar and Meru Raya stations standards need to be maintained purpose of the SMS is to ensure a maintenance schedule provided “They are airframe and
rushed to the scene for aircraft to be certified systematic approach to managing by the aircraft manufacturer is powerplant mechanics, inspection
airworthy so that passengers and aircraft operations risks. also fundamental as it affects the authorisation endorsed mechanics,
“The deceased, who was crew can remain safe? aircraft’s airworthiness. or a certificated repair station.”
thrown out of the lorry, was found “The Civil Aviation Directive 19
crushed at the road divider and he GIAAN Flying Academy – Safety Management describes “A 50-hour interval or a four He said even if a minor defect is
was pronounced dead at the scene chairman Datuk Sirajudin the requirements for SMS in month check should be carried discovered, it is treated as a major
by a Health Ministry medical Y. Mohamed Mydin said most relation to aviation industry out if the aircraft has not flown for problem since it could affect safety
team. aircraft operations, operators and players in Malaysia and is 50 hours. All maintenance needs during flight training.
owners must comply with Civil integrated into all aviation aspects to be carried out as best as
“The Fire and Rescue Aviation Authority of Malaysia such as maintenance, flight possible to improve safety levels.” Sirajudin added that unlike a
Department had to use tools to training and flight operations. car that can pull up at the road
extricate the deceased,” he said in Even the aerodrome provides the Sirajudin said the shoulder if it has an engine or
a statement. same level of safety responses.” maintenance check for aircraft is other issues, an aircraft cannot
already set out based on the have a problem in flight as it can
He added that the body was number of hours the plane has crash.
successfully removed and handed flown, adding that CAAM also
to police for further action. carries out audits on the He said the safety of an aircraft
maintenance of aircraft to ensure via proper maintenance is of
The operation ended at paramount importance to ensure
7.38am. – Bernama lives are not endangered.

Part of witness statement ‘irrelevant’, Bidor helicopter crash: Wife of pilot
says prosecution in Zahid trial claims body

KUALA LUMPUR: The prosecution She was press secretary to Meanwhile, Ahmad Zahid’s IPOH: The wife of the pilot who died Kuala Lumpur Air Traffic Control
in the corruption trial of Datuk Seri Ahmad Zahid when he was deputy lawyer Datuk Hisyam Teh Poh Teik in a helicopter crash at the Chikus Centre at 12.16pm.
Dr Ahmad Zahid Hamidi related to prime minister and she is now the requested for time to reply to the Forest Reserve in Bidor recently
Yayasan Akalbudi (YAB) yesterday media director for the Umno prosecution’s objection. claimed the body of the deceased at The helicopter’s last reported
objected to a part of the witness president. the Raja Permaisuri Bainun Hospital location was over a forested area near
statement by his former press “Fadzlette’s witness statement Forensic Department yesterday. Bidor.
secretary, contending that it is Raja Rozela said Judge Datuk was given to the prosecution within
irrelevant and inadmissible. Collin Lawrence Sequerah has the the 14-day deadline before she took The victim’s wife, who was The helicopter was supposed to
power to control how much the stand. There was no advance accompanied by a woman, arrived in land at Sultan Azlan Shah Airport in
Deputy public prosecutor Datuk evidence is introduced through objection from them.” a multi-purpose vehicle at about Ipoh at 12.37pm. – Bernama
Raja Rozela Raja Toran said that witnesses’ statements, as long as the 10.40am and the deceased’s body
part of the statement by Mejar statements are relevant to the main Raja Rozela then said the was taken from the forensic
Jeneral (R) Datuk Fadzlette Othman issues in the trial. prosecution was not required to give department at 11.15am.
Merican Idris Merican, the second notice about their objection as this
defence witness, will damage the “... this witness is here to read out was basic evidential rule. The deceased’s wife, who only
character of Ahmad Zahid’s former (the statement). It is definitely, in my wanted to be known as Leung (pix),
executive secretary Mejar Mazlina humble submission, merely a Sequerah adjourned the said she would cremate Tsz Kin
Mazlan@Ramly. collateral, secondary issue, a proceedings to allow the defence to Richard Chan in Ipoh and his ashes
secondary fact which has no bearing make its submission today. would be brought back to Hong Kong
“Section 153 of the Evidence Act whatsoever to the facts in issue. before being enshrined following a
1950 should be applied in order to “I think under the circumstances, religious ceremony.
ensure evidence with regard to “So, with that, My Lord, the we will give the defence time to
credibility which has been raised statement in paragraphs 16 to 30, research. So, I will hear the However, Leung refused to reveal
before cannot be raised again whether it applies to or makes submissions in reply tomorrow where the cremation would be held.
because Mejar Mazlina’s credibility reference to Mejar Mazlina, must be morning,” the judge said.
had already been challenged during ruled as inadmissible on grounds of Earlier, Transport Minister Datuk
the defence’s cross-examination. it being collateral evidence.” On Aug 30, Ahmad Zahid Seri Dr Wee Ka Siong was reported to
(Otherwise) there will be no end to completed giving evidence after 17 have said a Eurocopter EC120B
(these) collateral issues.” The lead prosecutor raised the days on the stand. aircraft belonging to a private
objection as it was found that company lost contact shortly after
Fadzlette was scheduled to testify Fadzlette’s witness statement Ahmad Zahid, 69, is facing 47 taking off from Sultan Abdul Aziz
at the trial yesterday. contained attacks on Mazlina’s charges, 12 for criminal breach of Shah Airport in Subang.
character as a key witness. trust, eight for corruption and 27 for
money laundering involving maney Chan was to fly to Ipoh from
belonging to YAB. – Bernama Subang when he lost contact with the

7theSUN ON TUESDAY | SEPTEMBER 20, 2022

8 theSUN ON TUESDAY | SEPTEMBER 20, 2022
NEWS WITHOUT BORDERS

Don’t touch High waves triggered by the typhoon pound a
foreigners: China dock at a fishing port in the city of Aki yesterday.
health official – KYODO/REUTERSPIX

BEIJING: A senior Chinese health Typhoon batters Japan
official advised people to avoid contact with record rain
with foreigners to prevent monkeypox
infection, after the first known case on o Two killed, 340,000 households without electricity least 87 people have been injured, NHK said.
mainland China was reported. About 340,000 households, most of them in
BRIEFS TOKYO: Typhoon Nanmadol brought ferocious A river in Kyushu’s Miyazaki prefecture
“To prevent possible monkeypox winds and record rainfall to western Japan overflowed, flooding fields and roads, footage Kyushu, were without electricity yesterday, the
infection and as part of our healthy yesterday as one of the biggest storms to hit the from state broadcaster NHK showed. Trade Ministry said in a statement.
lifestyle, it is recommended that you do country in years disrupted transport and forced
not have direct skin-to-skin contact with manufacturers to suspend operations. Other video showed a riverside house half Kyushu Railway Co said it had halted
foreigners,” China Centre for Disease hanging over a torrent, the tin roof ripped off a operations in Kyushu while Japan Airline Co Ltd
Control and Prevention chief Prime Minister Fumio Kishida delayed his gas station, and a toppled billboard leaning over and ANA Holdings cancelled about 800 flights,
epidemiologist Wu Zunyou posted on departure to New York, where he is due to a street from the top of a building. NHK reported.
his official Weibo page on Saturday. deliver a speech at the UN General Assembly.
“We need to remain highly vigilant for heavy The storm made landfall again in Shimane
Wu also called for people to avoid “I postponed my scheduled departure to rains, gales, high waves and storm surges,” said prefecture in western Honshu after tracking the
such contact with people who have been take stock of the damage caused by the typhoon a Japan Meteorological Agency (JMA) official. coastline earlier yesterday, and was heading
abroad within the past three weeks as and to take all possible measures for recovery.” east at 35kph, JMA said.
well as all “strangers”, as he cautioned NHK said one man was found dead inside
vigilance. Japan’s 14th typhoon of the season made his car, which was submerged to the rooftop in The storm will veer into the Japan Sea for a
landfall near Kagoshima city on Sunday before the middle of a field, while another man died second time and track the coast to the north of
His post was widely shared across battering the western island of Kyushu and after being caught in a landslide. Honshu today before crossing overland and
social media over the weekend, but the roaring onto the main island of Honshu yesterday. moving northeast out into the Pacific, it projected.
comments section under his initial post One other person remains missing, and at
was disabled on Sunday. Up to 400mm of rain was expected over the
next 24 hours in central Japan’s Tokai region,
Some, who commented on forwarded the nation’s industrial heartland. – Reuters
or screenshot versions of his post,
questioned why foreigners in China, Biden reiterates US forces would defend Taiwan
many of whom are long-term residents
and have not left recently due to WASHINGTON: President Joe Biden said on Washington cut formal diplomatic relations Asked if the latest statement from Biden
Covid-19 barriers, were considered more Sunday US forces would defend Taiwan against with Taiwan in 1979, switching recognition to signaled a change in that strategic ambiguity, a
dangerous than Chinese people. a Chinese invasion, while the White House said Beijing as the sole representative of China. White House spokesman said: “The president
America’s policy was unchanged. has said this before, including in Tokyo earlier
The southwestern city of Chongqing But at the same time, the US maintained a this year. He also made clear then that our Taiwan
recorded a monkeypox virus infection Asked on the CBS 60 Minutes programme decisive, if delicate role in supporting Taiwan. policy hasn’t changed. That remains true.”
on Friday in an individual who arrived whether US troops would defend Taiwan, he
from abroad, marking mainland China’s said “yes”, if it were “an unprecedented attack”. Under a law passed by Congress, the US is Following his Tokyo assertion that “yes”, US
first known monkeypox infection amid required to sell Taiwan military supplies to forces would be involved, Biden was
the recent global outbreak of the virus. This was not the first time Biden has declared ensure its self-defence against Beijing’s vastly subsequently asked if the strategic ambiguity
US forces would take part in a war between larger armed forces. concept was dead and he replied: “No.”
The infected person was a 29-year-old China and Taiwan, with the White House
Chinese national who flew to Chongqing appearing to walk back his comments afterward. But Washington has maintained what is “The US remarks severely violate the
on Sept 14 from Spain, the Centre for officially called “strategic ambiguity” on important commitment the US made not to
Disease Control said later. The previous time was in May during a visit whether it would intervene militarily. support Taiwan independence, and send a
to Japan when Biden was also asked whether he seriously erroneous signal to Taiwanese
The risk of transmission was low as would commit US troops to such a situation and The policy is designed both to ward off a separatist independence forces,” said China’s
the person was put in quarantine upon he said “yes”. Chinese invasion and discourage Taiwan from Foreign Ministry spokesman Mao Ning. – AFP
arrival in Chongqing, the municipal ever provoking Beijing by formally declaring
health commission said in a statement. “That’s the commitment we made.” independence.

All close contacts were also isolated America and Afghanistan carry out prisoner exchange
and put under medical observation.
– Reuters KABUL: An American navy veteran detained in “After long negotiations, Frerichs was government’s “core, non-negotiable priorities”.
Afghanistan for more than two years was handed over to an American delegation and Bashar, a warlord and Taliban associate, was
RATTLED TAIWAN HIT BY released by the Taliban yesterday in exchange that delegation handed over (Bashar Noorzai)
MORE AFTERSHOCKS for a key ally. to us at Kabul airport,” Afghanistan Foreign sentenced to life imprisonment for heroin
Minister Amir Khan Muttaqi said at an event in smuggling and had served 17 years in a US jail.
TAIPEI: Aftershocks struck Mark Frerichs was working as a civil the capital held to announce the exchange.
southeastern Taiwan yesterday, engineer on construction projects in While Bashar held no official position, he had
including a 5.5-magnitude Afghanistan when he was “taken hostage” in The US State Department had previously “provided strong support, including weapons,”
earthquake that was felt in the 2020, the United States had previously said. described the veteran’s release as one of the for the Taliban in the 1990s, said government
capital, a day after a more powerful spokesman Zabihullah Mujahid. – AFP
tremor killed one person and injured
around 150 others. The latest quake
hit around 10am (same time in
Malaysia), 66km south-southwest of
the coastal city of Hualien at a depth
of 13km, said the United States
Geological Survey. Taiwan’s central
weather bureau put the magnitude
at 5.9. Rural and sparsely populated
southeastern Taiwan has been
rattled by a series of tremors since
Saturday. The most powerful, a
6.9-magnitude quake, struck on
Sunday afternoon, tearing up roads
and bringing down a handful of
houses in the town of Yuli where at
least one person was killed. – AFP

HURRICANE KNOCKS OUT
POWER IN PUERTO RICO

SAN JUAN: Hurricane Fiona smashed
into Puerto Rico on Sunday,
knocking out the US island territory’s
power while dumping torrential rain
and wreaking catastrophic damage
before spinning off towards the
Dominican Republic. Landslides,
blocked roads, fallen trees and
power lines, as well as a collapsed
bridge in the town of Utuado in the
central mountainous region were
among the destruction already
levied by Fiona, said Governor Pedro
Pierluisi. The entire territory of more
than three million people lost power
as the hurricane neared, with Pierluisi
reporting the electrical system out of
service. The hurricane has also left
196,000 people without drinking
water as a result of power outages
and flooded rivers. – AFP

9theSUN ON TUESDAY | SEPTEMBER 20, 2022
SPEAK UP

TUN S. Samy Vellu, the icon of Humanity mattered
MIC has passed on and I do more to Samy Vellu
feel the loss for all that he was
during his heydays. and handouts. “From the was hidden beneath his robust frame sense and a shrewd one too.
He touched many hearts and his A friend of mine who hails tributes we and it needed some level of insight to When it came to party matters he
endearing ways made it difficult not to have seen see that side of him.
revere him. from his village was spot on streaming in meant business. He was tireless.
when he recounted from politicians, He loved people and was loved From the tributes we have seen
Knowing him in person is the only witnessing how we would media unreservedly by the party.
way to appreciate his brilliance and handle difficult situations personnel and streaming in from politicians, media
tender caring ways. Most of his party and roguish characters in lay people who When he left, many saw it as the personnel and lay people who have
members can vouch for this. his hometown, where Samy have had demise of MIC. had dealings with him, Samy would
hailed from. dealings with remain a leader well remembered and
As a reporter, I have had many It had always been a carrot him, Samy It is true that MIC has resurrected cherished.
exclusive interviews with him and stick approach, and it mostly would remain a but it was never the same.
when he was a minister and worked. leader well Notwithstanding, non-politicians
he would usually give me It is also a regular sight to see remembered A charismatic leader such as Samy and professionals from the Indian
the last slot for the day and torrents of people lining up outside his and cherished. had his grip on things and feet on the community hold deep-rooted
talk about many things, home and office with various ground, and was a much-needed resentment towards this enigmatic
including his passions and problems, and he would stop to attend leader, who ruled with an iron fist to politician and the reasons are aplenty,
concerns. to them. maintain sanity within the party. maybe even justified, but we shall skip
He never turned people away, that for now.
I thought his interest in unlike those who saw position and He had feelers on the ground and
music was so archaic as I did power after his days. knew what was happening in every With the passing of Samy, it is the
not even know who the singers Other party leaders attempted to nook and cranny, he took the trouble end of an era which will never return.
were, but it was fun watching him hold meet-the-people sessions after to know and remember people by
get completely engrossed. his retirement but made a mockery of their first name. To the question of whether he was
the system as there were tales about good or bad, the answer is probably he
He often inspired and motivated how people who came for help were He ruled the party like a true was bad for good reasons.
me with his sturdy view on things and made to feel lesser in full view of emperor and stood tall and
had many anecdotes, some hilarious others. distinguished among pseudo-leaders Besides, as a politician, he did what
and yet others peppered with lessons He definitely had a tenderness that that have emerged today. most politicians would do and still do.
of life.
It is true that he earned the wrath of He proved that being human
He was a great storyteller and when many people from the many scandals, mattered more and that made all the
he recounted, it was done with all the it is just as true that he was adored by difference. Rest in peace, Tun!
details intact, you felt like the event yet many others.
was unfolding for real. Comments: letters@thesundaily.com
He was a true politician in every
True to the word, he was a leader
much respected and admired by party
members at large.

He was able to maintain the
decorum needed in running a political
party that was full of boisterous people
who were clamouring for positions

Bangladesh promotes military diplomacy for peace and stability

COMMENT interconnected Indo-Pacific. It would build interpersonal relations, plight of the Rohingyas firsthand and developed
In a broader sense, its own continuing mutual trust and confidence among ground a “clear perception” of the gravity of the refugee
by Kamal Uddin Mazumder forces in the region, which would reduce crisis and the need for their repatriation to
sustainability as an independent, sovereign, tension and enable discussion of issues Myanmar.
AS the Indo-Pacific region represents the prosperous nation-state depends on this idea. regarding common interest and concerns.
world’s economic and strategic centre of gravity, The Bangladesh military’s positive and active
the Indian Ocean today is becoming the With close to 40 nations comprising its The 46th IPAMS brings the aspiration of role has earned the nation an international
centrepiece of all geo-strategic play. make-up, the Indo-Pacific region covers more fostering sustained peace and stability in the reputation with political and diplomatic
than half of the earth’s surface, home to 60% of Indo-Pacific region through enhanced mileage that is well-recognised and credible to
Cooperation in the region is crucial to the world’s population producing 60% of global cooperation, mutual trust and confidence, and the UN and other international actors.
implementing the international community’s GDP and contributing two-thirds of current strong bondage among the land forces of the
global agenda, including achieving the UN’s global growth. participating countries. The armed forces of Bangladesh have
Sustainable Development Goals. glorified the country on the global stage through
By 2030, the overwhelming majority (90%) of “The IPAMS can create a sense of friendship their brilliant participation in UN peacekeeping
Major powers such as the US have enhanced the 2.4 billion new members of the middle class and warmth so that peace and stability prevail missions.
and deepened their strategic engagement and entering the global economy will live in the in the region,” said Bangladesh Prime Minister
leadership roles with countries in the region. Indo-Pacific. Sheikh Hasina while addressing the opening As the UN peacekeeping operations have
ceremony of the seminar. been evolving continuously, Bangladesh has
The Indo-Pacific Army Management Seven of the world’s 10 largest armies are in regularly been carrying out performance
Seminar, or IPAMS, is a US Army Pacific the region where border disputes and USARPAC commanding general Charles A. appraisals of its peacekeepers and taking
(USARPAC) initiated conference that is aimed at sovereignty concerns are headline events. Flynn assured that the US will cooperate with measures to cope with future challenges.
facilitating and enhancing interactions among Bangladesh and other Indo-pacific countries to
the armies of the Indo-Pacific region. Therefore, maintaining peace and security ensure the security of this important region. Despite being a late entrant (in 1988) as a
across the region is central to global progress. troop contributor, Bangladesh has emerged as a
This year’s 46th IPAMS, co-hosted by the The meetings are yet another symbol of the credible UN partner over the last three decades.
Bangladesh Army and USARPAC, concluded in However, in the Indo-Pacific Army close cooperation between Bangladesh and the
Dhaka. Management Seminar senior army leaders of US. Since 1988, Bangladesh has participated in
the regions engaged in discussions participated 54 peacekeeping missions in 40 different
The objective of IPAMS is to promote peace in plenary sessions and listened to It also paved the way for stronger countries across five continents with more than
and stability in the Indo-Pacific region through distinguished guest speakers as they worked out cooperation between the armies of the two 175,000 uniformed personnel, including over
mutual understanding, dialogue and how to improve relationships between national countries. 1,800 female peacekeepers.
friendship. armies and work together to achieve
sustainable security in the region. The Bangladesh Army Chief said, “The US Currently, there are over 7,000 troops and
It is the largest conference for land forces in Army is one of the best in the world and very police deployed in 10 missions (as per data from
the region and one of the pre-eminent army The conference brings army senior leaders developed. Working together will give the the armed forces division).
engagements that provide a platform for the together to discuss differences, establish trust, Bangladesh army a lot of scope to learn. We
senior military leadership of Indo-Pacific mitigate miscalculations, resolve challenges always find opportunities to learn from each Praising the Bangladesh Army, Charles said:
regional ground forces to exchange views and and find commonality among participating other’s experiences and I always believe that “The Bangladesh Army is known for its
opinions on peace and stability. multinational-professional soldiers. when there is room for improvement.” leadership globally because of its contributions
to UN peacekeeping operations. Its
This year’s conference brought together There are issues that cannot be solved in This conference is encouraging and will take peacekeeping campus and training centre are
senior officers of military forces from 24 isolation by just one or two countries. the US-Bangladesh relationship to greater not just known within the region, they are
countries. heights. known internationally.
This platform allows military leaders from all
Under the theme of “Possibilities and countries in the region to come together, share While the militaries of participating “There are many things that the US Army
challenges for maintaining peace and security their ideas and find a collective solution to the countries discussed disaster management, and so many other armies can learn from the
in the Indo-Pacific region”, the main focus of the pressing and immediate problems they face. transnational crime, security issues and experiences of the Bangladeshi Army in their
event was robust peacekeeping, women women’s empowerment, the issue of Rohingya international and global commitment to
empowerment and land power in regional The relationships developed throughout the refugees who have fled from violence in humanitarian assistance, disaster relief and
cooperation. seminar and through army-to-army Myanmar is not overlooked. peacekeeping operations.”
engagements would help to identify issues of
Along with other issues, peacekeeping common interest for arriving at pragmatic It is undeniable that since the Rohingya crisis This acknowledgment has once again
operations, humanitarian assistance, disaster multi-lateral solutions when dealing with erupted in the Indo-Pacific region’s heartland, it proved that our armed forces are a vital factor in
relief, leadership development, countering escalating threats. Trust should also be built at has all the potential to directly threaten the upholding global peace and are able to keep our
transnational crime and empowering women the strategic level. peace and stability in the region. country safe from the subversive activities of
were being discussed. internal and external enemies.
In promoting regional stability in the Indo- Because of the prolonged stay of more than
This is the third time Bangladesh has hosted Pacific armies need to work together with the one million Rohingyas in crowded camps, the Last but not least, this conference is a critical
the conference. Previously, Bangladesh public sector in policy-making and lay out a economy, environment, security and socio- opportunity to connect with the world’s military
co-hosted the event in 1993 and 2014. development foundation that links economic political stability in the region will be seriously leaders to foster alliance partnerships and
and social development with the protection of affected. cooperative relationships.
This is also the first time since 2019 that the environment and natural resources.
regional armies have gathered for the annual A delegation of top military officials from 24 It is expected that dialogues like these will
forum because of the global pandemic. IPAMS promotes network building among countries, including the US, Canada, Australia, further strengthen ties between Indo-Pacific
Significance of military diplomacy military chiefs at all levels to join forces in Japan, Indonesia, India, China and Vietnam, countries and the Bangladesh Army, and
Bangladesh has historically been part of ancient coping with the world’s various changes and visited the sprawling Rohingya refugee camps in increase possibilities for mutual cooperation to
Indo-Pacific connectivity. challenges for sustainable advancement of the Cox’s Bazar, where Rohingyas expressed their cope with recent challenges in order for the
region. desire to go back to their home country of region to move forward in a secure and
Indeed, it is in Bangladesh’s interest to Myanmar’s Rakhine State and not to any third sustainable manner.
advocate and work for an open, resilient and The forums provide a unique opportunity to country.
advance understanding of key issues while Comments: letters@thesundaily.com
showing respect for each other’s role in The members of the group witnessed the
promoting security and stability.

10 theSUN ON TUESDAY | SEPTEMBER 20, 2022
MEDIA & MARKETING

(left) Chen See
Leong, Head
of Product
receiving the
Top 10
Property
Developer
Award

(right) The
SkyWorld
Team with
their award at
the BCI Asia

Skyworld wins developerAwards2022. award
CITY developer SkyWorld o This is city developer SkyWorld’s fourth recognition for emphasis motivate us to escalate even further.”
Development Group on quality and sustainability in its projects Supported by a dedicated and
(SkyWorld) won the
prestigious Top 10 experienced management team,
Developer Award at the 2022 SkyWorld’s clear purpose of ‘Make
Building and Construction (BCI) Living Better’ stay close to their
Asia Awards. This is the 4th time attendance. my gratitude to the SkyWorld team developer that builds with heart. hearts and will definitely bring the
SkyWorld is conferred the top Environmental sustainability in and our fellow business associates “Rest assured that quality and company closer to achieving the
developer for its effort as a for the dedication and unparalleled company’s vision, ‘Always Best City
discerning developer with a big the form of green building index support given,” said SkyWorld Chief environmental sustainability are Developer’. By transforming the city
impact on the built environment in (GBI) certification has become part Executive Officer, Lee Chee Seng. inherent qualities in all properties skyline, one development at a time,
the property construction industry of the award’s consideration, bearing the SkyWorld trademark as SkyWorld aims to turn every piece of
in Malaysia. rewarding developers that play an Centred on three strong brand we are committed to QLASSIC land into a sustainable living
The BCI Asia Awards 2022 gala active role in making Malaysia’s pillars, SkyWorld epitomes Sky (Quality Assessment System in environment.
dinner was held in Mandarin cityscape safer and more Living at its best by providing the Construction) rating and GBI
Oriental Hotel, Kuala Lumpur, and environmentally focused. ultimate sky living experience in a certification,” cited Lee. “I would also like to express my
saw a number of renowned property sustainable environment. SkyWorld gratitude to all the proud SkyWorld
developers in Malaysia in “This is an honour indeed to be continues to grow and has made a “We are grateful and excited that property owners for having the
conferred a top developer at the BCI name for itself as a responsible the team effort is recognised by BCI confidence and continuous trust in
Asia Awards. I would like to express Asia Awards, this will definitely the SkyWorld team,” concluded Lee.

Group photo Promoting care for the environment
with 30-Hour
Famine BERJAYA Sompo Insurance Berhad benefited from the workshop and
Ambassador, (Berjaya Sompo) continues its gained insight through interactive
Pakho Chau. Corporate Social Responsibility (CSR) activities such as online quiz sessions
initiative with the “DIY Composting during the workshop. Meanwhile, by
World Vision Malaysia making the world a better place, Workshop” in collaboration with providing an opportunity for AIESEC
pays tribute to Malaysians where children are loved, cared for AIESEC in Universiti Malaya’s Clean in UM’s members to deliver the
and protected.” Our Plate project. The workshop was workshop for Berjaya Sompo’s staff, it
THE past two years have been Thanks to the generosity and held in conjunction with Berjaya is also an initiative to develop the
nothing but hectic due to various kindness of Malaysians, over The celebration also featured Sompo’s Environmental, Social, and youth’s personal development skills.
global crisis such as COVID-19, 150,000 children and counting were the 30-Hour Famine Ambassador, Governance (ESG) Week.
heightened global conflict and given the opportunity to a better life Hong Kong singer-songwriter and “According to SWCorp Malaysia,
climate change. As a result, more by being sponsored by more than actor, Pakho Chau, engaging The Clean Our Plate is a the households sector accounts for
than 100 million additional people 90,000 sponsors, while nearly virtually with its participants. A host semiannual Malaysian Youth 44.5 percent of the 16,667.5 tonnes of
could be pushed into extreme 20,000 people have joined WVM as of local personalities also joined in Volunteer project focusing on SDG 12 food waste generated in Malaysia
poverty. volunteers to help meet the needs the celebration. to ensure sustainable consumption daily. To curb this ongoing problem
of the most vulnerable. and production patterns, and AIESEC and raise awareness among the
To mark World Vision Malaysia’s Terry Leong revealed that this pioneered it in Universiti Malaya (UM) community about food wastage,
(WVM) 25th anniversary and the 1,600 participants consisting of year’s campaign raised more than in 2017. Director of the Clean Our Berjaya Sompo Insurance is pleased to
2022 finale of its flagship advocacy youths and young adults were RM500,000 with participation from Plate project, Naqib al-Hussaini said: support AIESEC’s initiative,” said Tan
campaign, 30-Hour Famine, the present at the celebration, approximately 5,000 (both online “We believe by collaborating with Sek Kee, Chief Executive Officer of
NGO held a celebration at Zepp underscoring this year’s 30-Hour and physical). Berjaya Sompo, the impact of our Berjaya Sompo.
Kuala Lumpur to celebrate those Famine theme – Future Starts with project can be amplified and more
who have changed the lives of You(th)! – that shows the positive The funds raised through the 30- awareness can be created among the He added: “This initiative was part
vulnerable children, families and and growing role the younger Hour Famine will support World community”. As a youth-run of the Company’s ESG Week event to
communities worldwide. generation will play in shaping the Vision’s community development organisation, AIESEC in UM was truly encourage our team to play an active
future. work in Lebanon, Nepal and Sri grateful to be given such an role in climate change. We hope to
Malaysians from all walks of life Lanka by providing children and opportunity by Berjaya Sompo. cultivate the awareness that everyone
came together to help provide World Vision Malaysia’s Chief families with Health & Nutrition, can contribute towards sustainability
impoverished communities with Executive Officer, Terry Leong said: Water, Sanitation & Hygiene This virtual workshop aimed to no matter how small the action is.”
access to education, basic “World Vision Malaysia’s vision (WASH) and Livelihood assistance. educate Berjaya Sompo’s staff on food For more information about Berjaya
healthcare and nutrition, clean today remains the same as it was waste awareness and fully utilise food Sompo’s CSR initiatives, please visit
water and child protection systems. back when we started in 1997. We Locally, beneficiaries include waste through home composting. A
This truly showed Malaysians want to see every child living life in World Vision Malaysia’s total of 160 Berjaya Sompo’s staff www.berjayasompo.com.my
working in tandem with the 25th- all its fullness.” community development work in
anniversary theme – Every YOU Sabah as well as projects that BSIB staff attending the workshop
Counts. “We hope that this celebration support vulnerable children and
encourages more to join us in families in Malaysia through SUKA
Society and Fugee School.

Donations to World Vision
Malaysia’s 30-Hour Famine can still
be made via their website
30hourfamine.my

S E C U R I T I E S S D N. B H D. TUESDAY
SEPTEMBER 20, 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: sunbiz@thesundaily.com
Advertising Tel: 03-7784 8888
19/9/2022 Fax: 03-7784 4424

Participation Bought Sold Net Email: advertise@thesundaily.com
RM m
% RM m RM m

43.1 Institutions 733.5 785.7 -52.2

23.1 Retail 441.5 371.9 69.6

33.9 Foreign 588.3 605.7 -17.4

100.0 1763.3 1763.3 0 15.79 11.98 195.72 10.80 CLOSED 136.08 27.12 19.20
KLCI STI HANG SENG SCI TSEC KOSPI S&P/ASX200
Preliminary stats (excluding trade amendments). For final data, please refer to www.bursamalaysia.com 1,451.52 3,256.31 NIKKEI 14,425.68 2,355.66
Source: Bursa Malaysia 18,565.97 3,115.60 6,719.90

KL MARKET SUMMARY Yinson enters Indonesia’s RE
September 19, 2022

INDICES CHANGE space via stake in Inecosolar
FBMEMAS 10,361.24 -113.30
FBMKLCI 1,451.52 -15.79
CONSUMER PRODUCTS 564.14 -6.26
INDUSTRIAL PRODUCTS 178.04 -3.43
CONSTRUCTION 155.52 -0.19
FINANCIAL SERVICES 16,369.62 -121.80
ENERGY 723.48 -14.14
TELECOMMUNICATIONS 580.01 -5.57 o Majority share will
HEALTH CARE 1,515.19 -49.87 strengthen division’s
TRANSPORTATION 801.53 -1.82 presence in Asia, which
PROPERTY 640.76 -6.74 is one of the company’s
PLANTATION 6,873.93 +15.81 core regions of focus
FBMSHA 10,451.47 -127.30
FBMACE 4,759.40 -74.35
TECHNOLOGY 62.58 -1.34

TURNOVER VALUE
2.184 BIL RM1.763 BIL

5 MOST ACTIVES KUALA LUMPUR: Yinson Renewables
September 19, 2022 (YR), the renewables division of Yinson
Holdings Bhd, has acquired a majority stake
STOCK VOL CLSG (sen) +/– (sen) in Indonesia-incorporated turnkey solar Kleiven (left) and Prim at the signing of the agreement.
TOPGLOV 110,708,700 70.5 -6.0 company PT Ineco Solar Solutions
MTRONIC 93,976,300 2.0 UNCH (Inecosolar), marking the group’s entry into
SNS 60,534,100 29.5 -0.5 the Indonesian renewable energy space.
XOX 49,404,800 2.0 +0.5
HARTA 41,292,200 149.0 -11.0 Inecosolar is a well-established solar
system provider in Indonesia with a track
5 TOP GAINERS record delivering residential and economy. With a nascent renewable energy Renewables finds strong local partners with
September 19, 2022 commercial rooftop solar systems. market, Indonesia is poised to be a major a solid understanding of local market
Inecosolar has delivered numerous projects hub of the energy transition,“ said Yinson dynamics in order to execute our growth
STOCK VOL CLSG (RM) +/– RM across Bali, Gili, East Java and West Nusa Renewables CEO David Brunt. strategies. We have worked with Inecosolar
NESTLE 105,200 130.00 +1.30 Tenggara. for two years, and have established a good
PETGAS 721,500 16.82 +0.32 Last year, Indonesia announced its relationship grounded on our shared vision
SP500-H13 31,800 2.42 +0.31 The acquisition aims to enable commitment to achieve carbon neutrality of delivering clean power to meet the
UTDPLT 189,300 14.88 +0.30 Inecosolar to provide all-in-one zero- by 2060. The 2021-2030 Electricity Supply world’s energy needs. I am confident that
BIPORT 5.25 +0.15 capital solutions, expand its project Business Plan (Rencana Usaha Penyediaan together, we can support Indonesia’s goal of
100 portfolio and establish itself as an Tenaga Listrik or RUPTL) from Perusahan becoming a key exporter of solar power in
independent power producer (IPP) in Listrik Negara (PLN) has been labelled the region.”
5 TOP LOSERS Indonesia and beyond. “Green RUPTL” due to the increased share
September 19, 2022 of renewable energy into the country’s “We are delighted to have Yinson
A zero-capital arrangement allows future projects pipeline – about 20.9GW in Renewables on board and to continue the
STOCK VOL CLSG (RM) +/– RM businesses to install rooftop PV systems total, with 4.7GW of solar achieved in the journey together to reach new heights in the
PMBTECH-LA 4,000 20.04 -1.96 with no upfront cost and benefit from next decade. The RUPTL also emphasised Indonesian energy transition. It is important
DLADY 14,100 31.40 -0.70 reduced electricity tariffs over a 15 to 20- the critical role of the private sector, for us to have a strategic partner who not
PPB 943,100 16.34 -0.70 year tenure. Inecosolar aims to pioneer the estimating that 63.7% of Indonesia’s new only understands energy but also shares the
MPI 115,400 29.10 -0.50 rooftop solar market in Indonesia with solar power capacity will be developed by same vision about how to do things
F&N 28,800 21.90 -0.42 innovative and competitive solutions. IPPs over the next decade. differently and more efficiently in the
current market. Together, we are looking
“The transaction will further build YR’s Yinson Renewables vice-president forward to delivering innovative solutions to
presence and pipeline in Asia, which is one (business development) Marius Kleiven our Indonesian customers,” said Inecosolar
of our core regions of focus. Indonesia welcomed the Inecosolar team to the YR founder and director Benoit Prim.
contributes approximately a quarter of family, saying, “It is important that Yinson
Southeast Asia’s economic activity and is
expected to become a major global

Local bourse ends sharply Small, medium businesses want more
lower on persistent selling automation and digitalisation grants

BURSA Malaysia ended sharply lower yesterday, KUALA LUMPUR: Small Ding Hong Sing, the provided by banks, namely the SME
weighed down by persistent selling in heavyweight and medium enterprises national president of the automation and digitalisation facility.
stocks, in tandem with the weakness in most regional (SME) are hoping that the
peers. government will increase BUDGET SME Association of He said there should also be a focus on
grants and facilities for Malaysia, agrees, saying that measures to ease the cash flow of SME
Asian shares took their cue from Wall Street’s automation and SME need very high-tech when tabling the upcoming Budget 2023.
losses on Friday amidst concerns about the global digitalisation in Budget 2023
economic outlook and monetary policy tightening by 2 23 machinery for automation “SME are still facing very tight cashflow
central banks around the world, said a dealer. and digitalisation in order to and I think the idea is to provide more
to help them transition to expand and do well in the financing assistance with lower interest to
At 5pm, the benchmark FBM KLCI fell by 15.79 Industrial Revolution 4.0 (IR 4.0) and business. lessen their burden,” he said.
points to 1,451.52 from Thursday’s close of 1,467.31. rebound from the pandemic. “The automation facility is important to
Datuk William Ng, chairman of the Small replace the shortage of foreign workers, Recently, Prime Minister Datuk Seri
The benchmark index opened 7.8 points lower at and Medium Enterprises Association of especially in the 3D sector (dirty, Ismail Sabri Yaakob said the government
1,459.51, subsequently moving between 1,446.04 and Malaysia (Samenta), said a cohesive and dangerous, and difficult). will discuss the proposal to offer a
1,460.91 throughout the session. structured approach is needed to support “Usually they need at least RM5 million moratorium to SME soon, while Finance
SME in automation and digitalisation, and financing depending on the type of Minister Tengku Datuk Seri Zafrul Abdul
On the broader market, losers thumped gainers the provision of grants will help empower machine and we propose the government Aziz said he hopes banks and Bank Negara
706 to 217, while 349 counters were unchanged, 1,101 their business post-pandemic. to provide 100% financing facility with zero Malaysia will continue to support SME that
untraded and 17 others suspended. “We hope the government will increase interest for a tenure of eight to 10 years,” he are genuinely facing difficulties.
grants for automation and digitalisation via said, noting that SME only get up to 90%
Total turnover fell to 2.19 billion units worth agencies like Malaysia Digital Economy financing facility with 3.5-4% interest. According to the Department of
RM1.76 billion compared with 2.62 billion units worth Corp (MDEC) and SME Corp. In Budget 2022, the government had Statistics Malaysia, SME’ gross domestic
RM2.67 billion on Thursday. “Matching grants are needed to engage allocated RM100 million in smart product (GDP) growth expanded by 1% in
expertise and mentors to guide SME automation matching grants to 200 2021, slower than Malaysia’s GDP growth of
Rakuten Trade Sdn Bhd vice-president of equity through the implementation process,” he manufacturing and service companies 3.1%. The contribution of SME to GDP
research Thong Pak Leng said key regional indices also said. while there were financing facilities declined to 37.4% from 38.1% in 2020.
trended lower as investors are wary that the US Federal
Reserve and other central banks might overshoot their Budget 2023 will be tabled in Parliament
policy targets, triggering a global recession. on Oct 7. – Bernama

Of the actives, Top Glove slipped six sen to 70.5
sen, SNS Network Technology eased half-a-sen to 29.5
sen and Hartalega fell 11 sen to RM1.49. – Bernama

12 theSUN ON TUESDAY | SEPTEMBER 20, 2022 FOLLOW ON TELEGRAM SCAN
SUNBIZ ME
/thesuntelegram
T7 Global clinches
RM400m mobile Proton back in South Africa
offshore production after 10 years’ absence
unit deal in Thailand
o Malaysian national carmaker aggressively pursuing export sales
PETALING JAYA: T7 Global Bhd via
subsidiary Tanjung Offshore Services KUALA LUMPUR: National carmaker as we believe it is one of the pillars to growing “When the Proton brand became available,
Sdn Bhd (TOS) has entered into an Perusahaan Otomobil Nasional Sdn Bhd our overall volumes, and our aim is to achieve CMH jumped at the opportunity for several
RM400 million charter and operation & (Proton) is officially back in South Africa after 6,000 export sales this year,” he added.
maintenance contract with Busrakham exiting the market 10 years ago, said deputy reasons, but mostly because we saw a gap
G11 Ltd for the leasing, operation and CEO Roslan Abdullah. The relaunch of the brand, which in the market for a quality sports utility
maintenance of a mobile also saw the Proton X70 and the vehicle (SUV) within an affordable
offshore production He said that growth in export volume is vital Proton X50 making their debut in price bracket.
unit (Mopu) in Nong to Proton’s expansion plans, and export sales South Africa, was hosted by “There are many luxury
Yao Field, southern remain a vital part of its business plan. Combined Motor Holdings Ltd brands selling SUVs in South
Gulf of Thailand. (CMH), Proton’s official Africa, but most are simply
“While the company continues to reclaim distributor in that country. unaffordable for the average car
Under the market share in Malaysia’s automotive market, buyer here,” he said.
contract signed it needs to exploit the latent potential in “Both models are now McIntosh said the company
on Sept 5, TOS will international markets towards becoming a available as completely built-up plans to have 25 dealers within six
be responsible for leading automotive brand in the region,” he said models to customers in the
the engineering, in a joint statement yesterday. Rainbow Nation and will be joined by months, and the first 17 have already
procurement, construction, installation the Proton Saga later undergone sales and
and commissioning of the Mopu and the Roslan also said that as at end-August, in the year or the technical training.
subsequent leasing, operation and export sales rose 33.9% over the total number of beginning of 2023,” He added that a
maintenance of the unit for five years, sales for 2021. Roslan said. full range of
with an extension of two years. replacement parts are
“With the addition of South Africa to the list Meanwhile, CMH
T7 Global group CEO Tan Kay Zhuin of export markets, the company is hopeful of CEO Jebb McIntosh said the company had already in stock in CMH’s distribution centre so
said that it is its third Mopu project after ending the year with an even bigger percentage jumped at the chance to bring the Proton brand customers can buy the vehicles with
the converted Cendor Mopu for Petrofac in growth. back to South Africa. confidence. – Bernama
and the newbuild Bayan Mopu for
Petronas Carigali. “Proton is aggressively pursuing export sales

“Our Mopu solution is a build-own- Digital Penang signs MoU with
operate concept, which allows offshore Microsoft to empower startups, SME
operators to enable fast-track production
in marginal fields and/or to enhance PENANG: Digital Penang and Microsoft have provide startups and digital natives in Malaysia excited to embark on this journey with
hydrocarbon recovery in mature fields, signed a memorandum of understanding with a global platform to scale their innovations Microsoft to nurture local startups, SMEs, and
with reduced exposure in their initial (MoU) to drive digital transformation and build with the integration of the Microsoft for the wider community with technology and
capital expenditure. We are optimistic digital skills among startups and small and Startups Founders Hub within the MYStartup digital skills to capture opportunities in the
that T7 Global is now positioned as one medium enterprises (SME), while empowering platform. digital era,” said Digital Penang CEO Tony Yeoh.
of the leading Mopu solution providers the developer scene in the state.
in the region,” he said. Digital Penang and Microsoft will also “We are thrilled to collaborate with Digital
The collaboration is in line with Penang’s explore collaborative opportunities to deliver Penang to empower the local startup and SME
The G11/48 block, including the Nong Digital Transformation Masterplan to develop a digital skilling initiatives to SME in the state ecosystem, in support of its goal to boost the
Yao discovery, is owned by Mubadala digitally engaged society. through the Microsoft Learn platform, which State’s inclusive digital economy,” shared
Petroleum (67.5%), KrisEnergy (22.5%) provides globally recognised certifications that Microsoft Malaysia managing director K Raman.
and Palang Sophon (10%). Mubadala To support Penang’s goal of strengthening affirm these SME owners’ digital competencies.
Petroleum operates the Nong Yao field. the local startup ecosystem, Digital Penang will To help drive more women participation in “Opportunities are abundant for startups,
leverage the Microsoft for Startups Founders technology, Microsoft will also extend support SMEs, and market disruptors in this digital era
Foreign net selling Hub, a borderless platform designed to fuel to female developers through the Code; and we are glad to extend the Microsoft for
on Bursa last week innovation and empower the ambitions of Without Barriers initiative. Startups Founders Hub platform to startups
higher at RM186m startup founders by providing them with access and digital natives in Penang – providing them
to resources and tools to help turn their ideas “Our vision is to create a connected, creative with access to upskilling opportunities and
PETALING JAYA: Foreign net selling on into reality. and competitive society in Penang, and ensure mentorship, personalised technical guidance,
Bursa Malaysia increased to RM186.2 that no one gets left behind as we accelerate our along with Microsoft’s technologies and tools,”
million last week, more than four times This collaboration is also in tandem with journey towards the digital economy. We are he said.
the amount sold in the week before, due Microsoft’s recent initiative with Cradle to
to higher-than-expected inflation data in
the United States, prompting investors to From left: Yeoh,
expect another aggressive rate hike by the Penang Chief
Federal Reserve, MIDF Research said. Minister Chow
Kon Yeow,
Foreign investors net bought at Raman and
RM47.5 million on Monday, before net Pikom chairman
selling from Tuesday onwards. The bulk Dr Sean Seah at
of the week’s net outflow was seen on the MoU
Thursday at RM153.8 million, while the exchange
outflows recorded on Tuesday and ceremony.
Wednesday were RM22.4 million and
RM57.5 million respectively.

Local institutions which briefly net
bought RM91.3 million worth of equities
the previous week after eight weeks of
net selling, turned net sellers again last
week, albeit at a lower RM4.7 million.

Local institutions were net sellers from
Monday through Wednesday. The net
outflows amounted to RM35.2 million on
Monday, RM40.8 million on Tuesday and
RM12.6 million on Wednesday. Local
institutions turned net buyers on
Thursday before the market took a break
on Friday due to a public holiday.

Local retailers turned net buyers
again at RM190.8 million after net selling
RM48.8 million in the previous week.

To date, international investors have
been net buyers for 24 out of the 37
weeks of 2022 at RM7.93 billion. Local
institutions ave been net sellers for 29 out
of 37 weeks at RM9.91 billion. Local
retailers have been net buyers for 24 out
of 37 weeks of 2022 at RM1.98 billion.

There was an increase in average daily
trade value across all investor classes at
14.7% for retail investors, 5.1% for
institutional investors and 58.3% for
foreign investors.

FOLLOW ON FACEBOOK SCAN 13theSUN ON TUESDAY | SEPTEMBER 20, 2022
ME * SUNBIZ
/thesundaily

BRIEFSEP MANUFACTURING Investment will remain a
INKS INVESTMENT key driver for gold market
DEALS FOR EV VENTURE
█ BY GLORIA HARRY BEATTY o Expert says there will be mixed prospects support growth in mine supply,” he
KUALA LUMPUR: Auto parts maker sunbiz@thesundaily.com for investors and consumers said.
EP Manufacturing Bhd has entered KUALA LUMPUR: Investment will
into two investment agreements for continue to be a key driver for the strength could cause headwinds. banks continued to be strong. Separately, acting director Mohd
its venture into the two-wheeled gold market in the second half of In terms of jewellery and Based on Cheng’s observation, Saleem Kader Bakas said Bursa
electric vehicle (EV) business. The 2022 (H2’22), amid financial technology, Cheng predicted a more than 10 or 15 years ago, there Malaysia Derivatives anticipates
first agreement, with a minimum market uncertainty such the weaker year, with downside risks, were a lot of central banks that were 9,000 lots of FGLD to be traded from
investment amount of US$50 million volatility between the US dollar and although ongoing recovery provides unloading their gold. However, in October to December this year, with
(RM226.5 million), was inked the local currency and geopolitical some support. He 125 average daily contracts.
between EP Manufacturing and CIS crises. noted that headwinds the past 10 years,
Pride Fund SPC, Sharkgulf such as tighter financial central banks have “In the first year which is
Technologies Group Ltd as well as According to Singapore Bullion conditions and returned to continuous probably only three months, a
Blueshark Holding Ltd. The second Market Association CEO Albert economic deceleration buying on different volume of about 9,000 lots which
was signed by EP Manufacturing, Cheng (pix), investment has been are to be expected. scales, particularly would make an average daily
Siraj Holding LLC, Siraj Holding Sdn the key driver in the gold market for “Jewellery and tech those in developing contract of about 125. Towards the
Bhd and Sharkgulf, involving a total the past few years. Determining market demand will be countries. first year, with a lot more education
minimum investment amount of factors amid financial market weak because it is with market makers in for the
US$125 million. – Bernama uncertainty, such as the volatility anticipated that the Additionally, he products, we expect to double that
between the US dollar and the local (global) economy will believes that the gold to about 250 lots average daily
AIRASIA OFFERS 5M currency, as well as the interest free not recover well in Q3 market will experience contracts in 2023,” he said.
FREE SEATS TO environment, are aspects that and Q4. So, in the next buying support by
ASEAN AND BEYOND investors factor in before choosing half year, jewellery and central banks amid Meanwhile, Bursa Malaysia Bhd
to invest in the gold market. tech demand will continue to be economic and geo- chairman Tan Sri Abdul Wahid
KUALA LUMPUR: AirAsia is offering weak,” he said in his Global Gold political crises, which Omar said the launching of the
five million free seats for “sale” across On outlook, he opined that there Demand and Supply Update and should outweigh modest selling. enhanced gold futures contract is
Asean and beyond for travel would be mixed prospects for Its Implication to Asean countries’ On gold supply, Cheng expects an essential move for the Malaysian
between Jan 1, 2023 and Oct 28, investors and consumers, higher presentation during the Bursa it to increase. Higher prices and gold market, as the cash-settled
2023 from yesterday until Sept 25, supply and softer central bank Malaysia Derivatives’ Enhanced weaker economic activity provide contract is now quoted in US
2022 on the AirAsia Super App or its demand. Gold Futures (FGLD) launch support for recycling, provided dollars with settlement in ringgit
website. The free seats are available ceremony yesterday. that near-market supplies are based on a fixed multiplier.
on domestic and international He anticipated little change in In H1’22, gold buying by central sufficient.
destinations across Asean including gold investment, but pointed out “Brownfield ramp-ups, high He added that the final gold
Langkawi, Penang, Johor Baru, Krabi, that upward surprises are possible. grading and China’s return should futures contract settlement value
Phu Quoc and Singapore. All-in-fares Opportunity for safe-haven will be based on the fixed
begin from RM23 for domestic demand remains and aggressive multiplier, which will be used to
flights and from RM54 for flights policy tightening as well as dollar calculate the ringgit contract value.
within Asean which include airport As a result, no foreign exchange rate
taxes, Mavcom fees, fuel surcharges adjustments are required.
and other applicable fees. It is also
offering AirAsia X and Thai AirAsia X PM: National low carbon plan will expand
flights to Seoul, Melbourne, Sydney, average GDP growth by RM13b annually
Perth, Auckland and New Delhi from
RM499 for economy seats, and from PUTRAJAYA: The holistic emissions in 2050 as it faces the “The government is confident objective of DTN, he said, 12
RM1,499 for premium flatbed seats implementation of the National challenges of energy transition and that the DTN is capable of ensuring strategies and 31 action plans have
for travel between Oct 3, 2022 and Low Carbon Aspiration 2040 Plan is climate change. that the energy sector is always been identified, to be implemented
Oct 28, 2023, inclusive of taxes and expected to expand gross domestic ready to face future challenges. in the short, medium, and long term,
charges. product growth (GDP) by RM13 The aspiration has nine targets in parallel with the implementation
billion a year and generate over to be achieved by 2040, among “The sector is poised to open a of the five-year Malaysia Plan.
Take heed of 207,000 jobs. them shared mode of public new chapter, in line with global
complaints, transport of 50%, use of electric trends that have seen new sectors The government has agreed to set
Mavcom tells Prime Minister Datuk Seri Ismail vehicles (EV) of 38%; use of the B30 that are low carbon such as the use up the National Energy Council
aviation industry Sabri Yaakob said the aspiration mixed fuel for heavy vehicles as an of EVs and new energy sources such (MTN) to oversee the implement-
under the National Energy Policy alternative fuel as well as energy as hydrogen and bio-based energy,” ation of the energy policy.
PETALING JAYA: Malaysia’s aviation 2022-2040 (DTN) that was savings of 11% for industry and the premier said at the launch of the
service providers should take heed of the launched yesterday will help the commercial use, and 10% for DTN here. “I will chair the National Energy
complaints to improve service levels and country achieve net zero gas house residential use. Council to ensure that DTN
address the root cause of prevailing To achieve the vision and initiatives are implemented
issues, said the Malaysian Aviation Ismail Sabri effectively by the various ministries
Commission (Mavcom). (third from left) and agencies based on
visiting the accountability and their respective
Mavcom executive chairman Datuk exhibition held roles,” Ismail Sabri said.
Seri Saripuddin Kasim said it has been in conjunction
actively engaging aviation service with the launch The DTN is a “living document”
providers to ensure that these issues are of the National that will be updated every three
being addressed. Energy Policy years by the MTN in accordance
2022-2040. – with factors such as technological
“Additionally, Mavcom is working BERNAMAPIX advances, socio-socioeconomic
towards the enhancement of the levels, and the balance of energy
Malaysian Aviation Consumer sources, he added.
Protection Code to further protect air
travellers and in continuing to empower Minister in the Prime Minister
them to exercise their rights,” he added. Department (Economy) Datuk Seri
Mustapa Mohamed said the DTN is
Mavcom’s 12th issue of its bi-annual aligned with the country’s
consumer report for the first half of 2022 commitments toward Sustainable
disclosed a total of 1,251 complaints Development Goal 7, which is
were registered with it, an increase of ensuring access to energy that is
almost eight times more than the 157 affordable, sustainable, and modern
complaints lodged within the for all in facing the energy trilemma
corresponding period last year. 1,240 of ensuring supply, affordability,
(99.1%) of the complaints received were and sustainability. – Bernama
on airlines while 11 (0.9%) complaints
were related to airports. MAA: Vehicle sales in August higher, touch 66,614 units

Mavcom said airlines have been KUALA LUMPUR: Vehicle sales in (48,922 units), due to fulfilment of surged to 59,769 units in August last year. Production of passenger
reversing their initial decisions and Malaysia jumped to 66,614 units in bookings by car companies versus 15,475 units in August 2021, vehicles jumped to 64,282 units in
providing resolutions that were more August this year compared with received prior to June 30, 2022. and sales of commercial vehicles August versus 12,897 units in August
equitable or satisfactory to consumers. 17,923 units in the same month last rose to 6,845 units during the 2021, while production of commercial
Overall, 87.9% (1,100) of the total year, according to the Malaysian It said the year-to-date sales month under review from 2,448 vehicles rose to 5,096 units from 1,064.
complaints have been resolved and closed. Automotive Association (MAA). volume for August was 63% higher units previously, MAA said.
at 447,209 units compared with On the outlook for September,
In addition, Mavcom received 1,317 The association said yesterday 274,600 units in the corresponding A total of 69,378 vehicles were MAA expects the sales volume to
non-actionable complaints. the total industry volume for August period last year. produced in August 2022 compared remain the same as in August–
2022 was 36% higher than July 2022 with 13,961 units in the same month Bernama
AirAsia received the highest number Sales of passenger vehicles
of complaints, comprising 42.1% (527) of
total complaints, followed by Malaysia
Airlines with 40.7% (509) and Batik Air
with 7.9% (99).

Flight rescheduling, flight cancel-
lations and online booking collectively
contributed to 46.1% (577) of total
complaints filed.

14 theSUN ON TUESDAY | SEPTEMBER 20, 2022 READ OUR HERE SCAN
SUNBIZ ME
/thesundaily

Some investors fear Fed will tighten too much, too quickly

WASHINGTON: Just months ago, investors While earlier in the year some investors had earnings shortfall from delivery firm FedEx that by a steep selloff in Treasuries.
worried the US Federal Reserve (Fed) was not criticised the Fed for moving too slowly, many the company blamed on slowing growth to a Fed chairman Jerome Powell has said price
fighting inflation aggressively enough. Several are now more worried the frenetic pace of rate warning from the World Bank that even a
jumbo rate hikes later, some now fear the Fed increases may not allow policymakers to gauge “moderate hit” could send the global economy pressure can be lowered without a sharp
will plunge the economy into recession by the effects of monetary tightening on the into a recession. economic slowdown. He has also emphasized,
tightening monetary policy too quickly. economy, increasing risks that they raise rates however, that the central bank will be relentless
too far. DoubleLine’s CEO Jeffrey Gundlach, who in its fight to stamp out inflation.
With markets reeling from last week’s robust had in June criticised the Fed for moving too
inflation number, interest rate futures late “We’re all scared of over-tightening and the slowly, told CNBC last week he was worried the Andrew Patterson, senior international
Friday were pricing in a roughly 20% chance hard landing scenario, because the Fed has Fed might hike rates too far. Ray Dalio, founder economist at Vanguard, believes it may be
that the Fed will raise rates by 100 basis points over-tightened and caused hard landings more of Bridgewater Associates, the world’s largest preferable for the Fed to err on the side of
(bps) at its Sept 21 meeting. That number was often than they have not,” said Jeffrey Sherman, hedge fund, wrote in a recent Linkedin post that aggressive action, given how stubborn inflation
all but unthinkable earlier this month, when deputy chief investment officer at bond fund a rise in rates to about 4.5% could sink stocks by has been. The firm nevertheless sees a 65%
the market was debating whether the move DoubleLine. about 20%. The Fed’s key policy rate stands at chance of a recession in the next 24 months.
would be 50bps or 75bps. Investors are also 2.25% to 2.5%.
pricing in meatier rate hikes down the road, US data has shown an economy that appears Some investors think the economy may be
with the terminal rate for US fed funds now at to be humming along, despite 225bps in Worries of Fed tightening have already resilient enough to withstand a more aggressive
4.4%. tightening already delivered by the Fed. Yet contributed to a 19% decline in the S&P 500 this Fed. US employment – an important snapshot
worrying signals are easy to find, from a dire year. Global bonds have fallen sharply, helped of the broader economy – grew faster than
expected in August. – Reuters

China to speed up projects, BRIEFS PORSCHE IPO VALUATION SENDS
boost consumption VOLKSWAGEN SHARES UP 1.3%

o Move to expedite injection of funds as economy shows signs starting today, for use in a major shopping BERLIN: Volkswagen shares were up 1.3%
of fresh vigour district. when markets opened yesterday after the
carmaker said on Sunday it was targeting a
BEIJING: China will speed up fund the property crisis continues to hang over The southern island province of Hainan valuation of up to €75 billion (RM339
injections to expedite project construction recovery prospects. yesterday also said it would issue vouchers, billion) for luxury sportscar brand Porsche.
and boost domestic consumption, China’s again totalling 100 million yuan, to make The issue could be Europe’s third largest
state planner said yesterday, even after the “The economy is at a critical juncture in consumption the main driver of the IPO on record if the upper price target is
economy showed signs of renewed its recovery, as the foundation of the recovery. reached, according to Refinitiv data.
momentum last month. domestic economic recovery is still weak Volkswagen’s share price was trading at
despite main economic indicators showing China’s cabinet has rolled out a raft of €147.38 by 0727 GMT, from €145.38 at
The world’s second-biggest economy positive changes,” said spokesman Meng Wei measures since late May to bolster an Friday’s close. The shares had risen 3% in
slowed sharply in the second quarter, at the National Development and Reform economy ravaged by disruptions caused by premarket trade yesterday. Shares in
dragged down by a deepening property Commission. government restrictions and lockdowns. Porsche Holding SE, Volkswagen’s largest
crisis, and slowing exports and imports. shareholder, were 1.5% higher, topping
Shanghai, which lifted a two-month “Stringent Covid restrictions amid the Germany’s DAX blue-chip index. – Reuters
However, it showed surprising resilience Covid lockdown in June, said it would hand Omicron variant have led to frequent local
in August, with faster-than-expected growth out “consumption vouchers” worth around lockdowns and weighed on China’s THAILAND EYES 2.38 TRILLION
in factory output and retail sales, although 100 million yuan (RM65 million) to residents economic activity this year,” said Goldman BAHT TOURISM REVENUE IN 2023
Sachs in a research note.
BANGKOK: Thailand expects to earn 2.38
“We estimate the current level of trillion baht (RM292 billion) in tourism
restrictions is suppressing the level of GDP in revenue in 2023, a government official said
China by 4-5%.” – Reuters yesterday. The government wants tourism
next year to reach 80% of its 2019 pre-
Bitcoin falls below US$19,000 as cryptos creak under rate hike risk pandemic level, as the key growth sector is
starting to see a recovery as the pandemic
SINGAPORE: Cryptocurrencies fell to underpins the ether token, had a major Funds, on the regulatory outlook. eases, said government spokesman
fresh lows yesterday on regulatory upgrade over the weekend called the “A lot of the hype has come out of the Anucha Burapachaisri. Foreign tourists are
concerns and as investors globally turned Merge that changes the way transactions expected to bring in between 970 billion
shy on risky assets with interest rate rises are processed and cuts energy use. markets since the Merge,” he said. “It’s baht and 1.5 trillion baht next year, he said.
looming around the world. really been a sell-the-news type of event,” – Reuters
The token’s value has fallen amid some he added, given the nervous global
Bitcoin, the biggest cryptocurrency by speculation that remarks last week from US backdrop, and said ether could test US$950 OYO HOTELS DELIVERS POSITIVE
market value, fell about 5% to a three- Securities and Exchange Commission in coming months. CORE EARNINGS FOR FIRST TIME
month low of US$18,387 (RM83,348). chairman Gary Gensler implied the new
structure could attract extra regulation. “Looking at the landscape right now, BENGALURU: India’s IPO-bound Oyo Hotels
Ether, the second largest Trades around the upgrade also were both fundamentally and technically, it’s posted positive group core earnings for
cryptocurrency, dropped 3% to a two- unwound. not looking great. There’s no immediate the first time as a rebound in travel
month low of US$1,285 and is down more bullish catalyst that we can see that’s going demand powered bookings, a filing from
than 10% in the last 24 hours. Most other “It’s speculation as to what might or to prop up these markets and bring in a the SoftBank Group-backed hotel
smaller tokens were deeper in the red. might not happen,” said Matthew Dibb, whole lot of new money and liquidity.” – aggregator showed yesterday. Oyo’s
COO of Singapore crypto platform Stack Reuters adjusted earnings before interest, taxes,
The Ethereum blockchain, which depreciation and amortisation for the first
quarter stood at 72.66 million Indian
rupees (RM4.1 million), the company
disclosed in an addendum to its filing for
an IPO. Oyo’s IPO will consist of a fresh issue
of shares of up to 70 billion rupees and an
offer for sale of as much as 14.3 billion
rupees, according to its IPO filing. – Reuters

T U E S DAY
20 SEPTEMBER 2022

The St.
James Gate
room where
participants
learned
about
Guinness
history.

█ BY MARIETTA MU Mastering
the perfect
ON Aug 5, Star Academy held
their Kuala Lumpur pour.
Guinness Perfect Pour at
One World Hotel, Petaling Precision and quality above all
Jaya. Bar staff from different o Souliquid and Makhan by Kitchen Mafia come up on top as Klang Valley finalists for Guinness Perfect Pour
restaurants, bars, and pubs in Klang
Valley gathered to learn how to do the
Perfect Pour as well as compete to win
a trip to an all-expenses paid trip to St. great looking and great tasting
James’s Gate Brewery in Dublin, Guinness Draught from the tap, and
Ireland, where Irish brewer Arthur they are Correct Gas, Correct
Guinness first started brewing the Temperature, Clean Lines, Clean
world-known stout over 250 years Glassware, Counter Visibility,
ago. Consistent Freshness, and Crafted
After a two-year hiatus, they’re Presentation.
back with an immersive and
interactive experience in As for the long-awaited Perfect
understanding the origin, ingredients Pour, we learned that it is a 6-step
and serving rituals to master the process that takes exactly 119.5
perfect Guinness pour. seconds.
The programme started bright and
early in the morning (ironically for the As a person who doesn’t usually
bartenders), and everyone was split drink, I was surprised by the taste of Finalists for Klang Valley’s 2022 Guinness Perfect Pour.
into two groups for two different beer fresh from the tap! The unique
sessions. two-part method and surging give the Guinness, where we learned about hops and the bulldog image on the Klang Valley are Ang Ai Keow from
In my group, we were escorted into Guinness drink its iconic creamy the brewing process and ingredients neck label of Guinness Foreign Extra Souliquid and Allan Coronel from
Room 2 first, also known as Heineken head and velvety texture. Tastewise, of Guinness. Stout is unique to Malaysia, a feature Makhan by Kitchen Mafia.
Malaysia’s Sungei Way Brewery, the perfect pour gave balanced bitter on bottles sold here for more than 100
where we learned about the 7Cs, the 6 and sweet notes to the stout, and it If you’ve ever wondered why years. After doing their rounds around
steps for the Perfect Pour, and the was simply delicious! Guinness has its ruby red colour, it’s East Malaysia and now Klang Valley,
Guinness Pouring Competition. because they roast their barley at After going through a trip of their next locations are Opero Hotel in
The 7Cs is a set of quality After the bar staff were judged by exactly 232°C. Among the interesting Guinness history, they compiled the Johor Bahru, Royale Chulan in
standards designed to help deliver their pour, we head on to the next facts, we learned that the bitterness of scores of the Central regional Penang, and Weil Hotel in Ipoh, Perak
room with the St. James Gate theme. the Guinness stout comes from the competition and the finalists for before the grand finale on Oct 21.
Inside, we were led to a room of
information and the history of

Tiger Street Food is firing up the hottest hunt
STREET food is undeniably an (left) A guest
integral part of Malaysians’ everyday taking photos of
life. As a beer born and raised in the street food
streets of Asia, Tiger continued to during the
champion this platform even when Hottest Hunt.
dining out was not possible in the
recent years. All this to ensure that The Tiger Crystal
local street food vendors got the Fire Truck at the
recognition they deserved. After two
years of hosting its fan-favourite Hottest Hunt
Street Food Festival virtually, Tiger is media launch.
making a big comeback with its
iconic street food festival on-ground food experience. To truly elevate the the Fire Challenge where they can heat and are excited to enjoy the the long-awaited Tiger Street Food
for a street food experience like never thrill of the hottest hunt, the Tiger test their limits with the hottest street hottest street food, paired perfectly Festival launching on Oct 27 can
before. Fire Truck will be making an food and score ice-cold Tiger Crystal with Tiger Crystal,” said Joyce Lim, look out for more updates on the
appearance at selected outlets that pairs perfectly for the ultimate Marketing Manager of Tiger Beer microsite in the coming weeks. With
While gearing up for the big within the Klang Valley, Penang, street food experience. The “Hottest Malaysia. maze-like alleyways and secret
festival, the brand encourages Ipoh, Melaka and Johor regions from Hour” activation at selected hours Fans who want to enjoy the street rooms to unlock extra rewards and
Malaysian fans and street food lovers now until Oct 14. every weekend in the regions will food experience from home leading prizes, fans are in for an elevated
to join the hottest street food hunt by surely bring the heat up too with the up to the event can also be part of the street food experience, paired
recommending their favourite street This lok lok truck with a twist hottest promotions for fans! fun. This year’s Tiger Street Food perfectly with Tiger Crystal.
food spots. Whenever they’re at their serves innovative versions of familiar campaign features limited-edition
favourite street food outlets, they can street food flavours in the form of “We are committed to continually packaging of Tiger Beer and Tiger Tiger Beer, the Tiger Street Food
drop a pin on the microsite to skewers, paired with a variety of hot elevating the street food experience Crystal cans and bottles, inspired by Festival, and all related activities and
recommend the place for other street and spicy soup bases and sauces. for Malaysians, and this year’s some of the renowned local street promotions are open to non-Muslims
food lovers to try, and get rewards in Ranging from curry laksa, tom yum, hottest hunt is no different. We food dishes like char kuey teow,
return too. With all the prawn noodle, white pepper, mala, wanted fans to be part of the grilled sting ray and lok lok. These aged 21 and above only. For more
recommendations and reviews from and spicy sour vegetable soup bases, ultimate street food experience and limited-edition cans and bottles are information about Tiger Beer and
fans, Tiger would have created an fans will be able to experience not only learn about new spots but available for purchase at selected
exclusive street food directory which delicacies curated by popular local contribute their say leading up to our hypermarkets, supermarkets, Tiger Crystal, visit
will be available for Malaysians who street food vendors in a way like festival. We hope that with this year’s restaurants, and food courts. www.facebook.com/TigerBeerMY or
want to hunt for some of the hottest never before. Fans who want to feel theme of firing up hot and spicy Fans who are looking forward to
street food dishes in town. the heat can take up challenges like street food flavours, fans bring the follow @tigerbeermy on Instagram.
Fans are urged to enjoy responsibly,
This year’s theme for the Tiger
Street Food Festival features all and not drink and drive.
things hot and spicy. The best way to
enjoy these bold flavours is with
Tiger Crystal for the ultimate street

ENTERTAINMENT FOLLOW ON YOUTUBE SCAN
ME
16 theSun LYFE ON TUESDAY | SEPTEMBER 20, 2022 /theSunMedia

Stream BLACKPINK album for free on Spotify

The supergroup’s album is free-to-listen until Sept 22. CALLING all K-Pop stans! BLACKPINK is Fans can access the listen-free quartet – Jennie, Jisoo, Lisa and Rosé,
back in your area with the highly feature exclusively via the BORN PINK broke Spotify records with the Aug 19
anticipated release of its second studio by BLACKPINK playlist, from now to release of their latest single Pink
album, BORN PINK, last Friday. Sept 22. Fans can also watch their Venom, becoming Spotify’s most-
album ‘come alive’ through a never- streamed song by a female artist in a
To celebrate their long-awaited before-seen video. single day in 2022 so far.
comeback, the superstar girl group is
collaborating with Spotify to give all BLINKs will also be treated to Fans can also spot the girls on
users around the world the ability to exclusive behind-the-scenes and Spotify’s billboards across Asia,
listen to the album for free as many bonus content, currently available on including Indonesia, the Philippines,
times as they want during the first K-Pop ON! Track. South Korea, Vietnam and Taiwan – a
week of its release, and in any order testament to their meteoric rise as a
they wish. Further cementing themselves as a cultural icon throughout the region.
global superpower in K-pop, the

Taking back her power
IN a move to take power away o Actress Blake Lively calls out paparazzi for invading her privacy
from the paparazzi who are and foils their plans by releasing her own photos
“swarming around her
house”, actress Blake Lively leave me alone. You freak me and children “who aren’t aware of the how to share herself with the
has shared photos of herself on my kids out.” reasons for the attention”. world when she comes of age,“ the
social media, immediately model wrote, “and that she can live
devaluing any images paparazzi It’s not the first salvo the actress The actress isn’t the only as normal of a childhood as
may have taken. has fired against the paparazzi, as person speaking out against this. possible, without worrying about a
she had been outspoken against public image that she has not
The A Simple Favor star its members who have no Last year, supermodel Gigi chosen.” – by Mark Mathen Victor
revealed late last week that she reservations about photographing Hadid posted an open letter on
was expecting her fourth child celebrities’ children. social media on the matter. Michele is currently on break from her role in
with husband Ryan Reynolds, and Funny Girl. – REUTERS
on Saturday, she took to She made mention of this fact Captioned “A letter from a
Instagram to post photos from in her Instagram post, adding: Mamma”, Hadid requested Lea Michele
private celebrations of her “Thanks to everyone else for all the paparazzi to respect pokes fun at
pregnancy, which included the love and respect and for the privacy of her and illiteracy rumours
pictures of her exposed pregnant continuing to unfollow accounts Zayn Malik’s then 10
belly, as well as shots with loved and publications who share month old daughter
ones including husband photos of children. You have all by blurring out
Reynolds, her close friend and the power against them.” the baby’s face
collaborator Taylor Swift, and in photos.
sister Robyn Lively. Lively also thanked media
outlets that have a ‘No Kids Policy.’ “Our
The Gossip Girl alum wish is
captioned the post: “Here are This has been an ongoing that she
photos of me pregnant in real life battle for Lively, who in 2016, said can
so the 11 guys waiting outside my it was unfair to photograph choose
home for a [unicorn] sighting will

Lively has LEA MICHELE recently joined TikTok and
been openly made fun of a widely circulated
outspoken online rumour that she is illiterate. The
about Glee actress can be seen in the video
paparazzi sobbing while lip-syncing over audio of
harassing Kim Kardashian contacting Joe Francis
her children. and asking: “It’s amazing, but wait, can you
– REUTERS speak for a second?”

KARA comeback for 15th anniversary She referred to her best friend and actor
Jonathan Groff in the caption, which read:
AFTER seven years, legendary will make the whole occasion Kara is returning after five years. – ALLKPOP “Calling Jonathan to give me the
K-pop girl group KARA is so much more meaningful for comments on my first TikTok.”
reuniting for a comeback their fans.
album. The rumour of Michele’s illiteracy
This is not the first girl group initially surfaced in 2018, after creators of
Yesterday, their agency RBW to make a comeback in 2022 the podcast One More Thing posted a
announced that the group will after many years. One of the video claiming she couldn’t read.
be releasing an album to original K-pop supergroups,
commemorate their 15th Girls’ Generation, also Recently, the actress addressed the
anniversary, which will be in announced their own long- rumours regarding her reading skills in an
November. Their last release awaited comeback in July, interview with the New York Times. “Some
was their seventh mini album almost five years following people can’t read because of disability,
titled In Love released in May their last effort, the Aug 2017 learning disabilities, some can’t because of
2015. album Holiday Night. a lack of access to education. Your words
and actions also affect them.
Former members Nicole and Girls’ Generation’s latest new
Jiyoung, who left the group in studio album, titled Forever 1, “I went to Glee every single day; I knew
2014, will also be making a dropped in August. – by S. my lines every single day and then there’s a
surprise comeback, and this Tamarai Chelvi rumour online that I can’t read or write? It’s
sad. It really is. I think often if I were a man,
a lot of this wouldn’t be the case.”

Actress Jameela Jamil defended the
actor on Instagram, saying that making
jokes about being able to read comes from
a very limited perspective. Despite the fact
that she omitted Michele’s name, it was
clear what she was talking about and to
whom she was referring.

Hopefully her new account on
Instagram will allow Michele to stay in
touch with fans while she is on a break
from the Broadway production of Funny
Girl after contracting Covid-19.

At the time she wrote on Instagram:
“Unfortunately, I have officially tested
positive for Covid. In following production
protocol I cannot return to the theatre for
10 days. Thankfully staying home today
and catching this early protected so many
members of our company from being
exposed.” – by Thashine Selvakumaran

FOLLOW ON TWITTER SCAN ENTERTAINMENT
ME
@thesundaily 17theSun LYFE ON TUESDAY | SEPTEMBER 20, 2022

█ BY S. TAMARAI CHELVI (left) Luen Heng’s
Mid Autumn
ON Sept 9, Luen Heng F&B Festival Media
Sdn Bhd, a company which Appreciation Night.
imports and supplies
alcohol and non-alcoholic
beverages, launched a new alcoholic
beverage, Musang King Durian
Liquer, during a Mid-Autumn Festival
media appreciation night.

The company, which began as a
small family-run shop on Petaling
Street and was later turned into a
reputable company by its managing
director, Datuk Kenneth Soh, also
celebrated a new title bestowed upon
him.

The company’s innovative
Mujestic Musang King Durian
Liqueur is made in Malaysia using
Musang King Durian sourced
primarily from Pahang.

They use the latest technology and
skills to derive from the premium
Musang King Durian’s flesh to create
a smooth, elegant, full-bodied
liqueur with a sweet aftertaste.

The Mujestic is a world-class
liqueur, which is widely recognised as
a premium fruit wine, and is an
alternative new take on wine
indulgence.

On the same night, Luen Heng
celebrated Datuk Kenneth Soh, who

toArneimghetmber relationships with
Commanderies de
Bordeaux located all over
the world.
Every year, the
Commanderie du
Bontemps welcomes into its
ranks a significant number of
new Commanderie
d’Honneur.
They must be sponsored by
o Luen Heng introduces a new durian alcoholic one or two established venturing into alcohol in
beverage, celebrates a new title on Mid Autumn commandeurs, and after the the 1960s and 1970s.
Festival Media Appreciation Night investiture ceremony, they become
active ambassadors of Medoc, He talked about his childhood
Graves, Sauternes, and Barsac wines. days on Jalan Bandar, his
Previously, Soh was bestowed the experiences, and taking over the
title of ‘Keeper of the Quaich’ on April business, which he later turned into a
was inducted into the ‘Commanderie Bordeaux wine trade, winegrowers, 8, 2019 and The Jurade of Saint successful beverage company.
Du Bontemps Du Medoc’ title in brokers, and merchants. Emilion on May 12, 2019.
Chateau Malescasse, France on May The night began with a speech by The media members enjoyed a
Soh after being bestowed the 18 this year. The Commanderie’s initiatives, Soh about how his father started his delicious Chinese dinner and drinks,
‘Commanderie Du Bontemps Du Grand Conseil de Bordeaux, were business as a conventional tobacco, including the durian liqueur, and
Medoc’. The Commanderie brings established to unite wine within the grocery, and later, wholesaler, before entertained with a performance by
together principal players in the Bordeaux area and maintain local singer Z Yan, and the pleasant
night ended on a happy note!

Life lessons 101: Big Mouth edition
GETTING life lessons from a second- wasn’t easy but it was the only choice
rate lawyer whose world was turned he had. struggling to adapt to life in Big Mouth opponents life. As he continues his attempts to
upside down in a single day may be prison, Chung-Ho finally makes the stars Lee A lesson both viewers and Chung-Ho uncover the true face behind Big
unorthodox but as Park Chung-Ho life-saving decision to put on the Jong Suk can learn is to never underestimate Mouse, his lofty ambitions and false
(Lee Jong-suk)’s life will show you, mask of Big Mouse. Despite some and YoonA. your enemy. When Chung-Ho took bravado may prove to be his
you’ll definitely come out on top. expected stumbles, he eventually – MBC on the persona of Big Mouse, he also downfall.
continues to gain influence within falsely assumed the notorious
Here are five life lessons from Big the prison with his new persona. (wife, his father-in-law, and his best swindler’s confidence, which was a Stream and binge the entire first
Mouth that could save you from a There’s nothing wrong with friend) by his side. Be it a tough legal mistake that could have cost him his season of Big Mouth on Disney+
lifetime of pain. accepting help case or mistaken identity as a Hotstar.
Marry your best friend Asking for help can be tough, notorious criminal, they were always
The person you marry can make or especially when you’re surrounded ready to put themselves in danger to
break your life. Chung-Ho and Mi-ho by people who expect something in save him.
are not perfect, but their relationship return. Hye-Jin (Hong Ji-Hee), Don’t underestimate your
is nothing but resilient. Though Mi- doesn’t have anyone to turn to when
ho has to constantly deal with the she’s in trouble because of her
consequences of her husband’s corrupt husband. Even when others
overly strong ambition, she never offered a way out, Hye-Jin was
relinquishes her trust in him. Even reluctant to accept their help.
when the entire country believed However, her life took a turn for the
Chung-Ho was a villain, loyal and better when finally took the leap and
determined Mi-Ho continued to fight accepted their help.
by his side to prove his innocence. So, With a good team, you can save a
marrying your best friend could nation
literally save your life. Nothing beats a squad you can rely
Fake it till you make it on. From bad breakups to fighting a
Nothing beats persistence when corrupt system, there’s nothing you
you’re stuck in a sticky situation. So can’t overcome without an amazing
the next time you’re struggling at support system. Despite the many
something, keep trying and you’ll attacks and accusations they faced,
eventually succeed. For Chung-Ho, Chung-Ho always had his squad
going from Big Mouth to Big Mouse

ERNVIRONMENT

18 theSun LYFE ON TUESDAY | SEPTEMBER 20, 2022

Plastic waste from
Pacific’s trash island
mostly from five
countries

ACCORDING to recent research, 90% of the World food production atRice production in Vietnam and Thailand could be under serious threat by 2045 if temperatures rise 2° above pre-industrial levels. –GETTY
thousands of tonnes of plastic waste that form risk by 2045 warming 2°C above pre-industrial levels,
what’s known as the North Pacific Garbage o Yield growth for wheat, maize, and other crops has rice, cocoa and tomato crops would be
Patch, could come largely from fishing been declining in many countries due to extreme heat, seriously threatened. The impact would be
equipment originating from five industrialised severe weather, and droughts considerable for countries such as
nations. Cambodia, Vietnam and Thailand, whose
AFTER the scorching summer, many to 40% of the country’s agricultural economies are based, among other things,
Whether known as “the seventh continent,“ have just experienced, scientists production, two-thirds of the fruit and on rice harvests.
“trash island” or the “garbage continent,“ there have already warned that these vegetable crops had been scorched before
are all kinds of unglamorous names for this conditions will inevitably reoccur in the summer had even reached August. At Brazil’s economic and agricultural system
huge pile of floating trash that covers an area of the coming years. In the event of that time, Italian wheat production had fallen could also be seriously challenged by global
3.5 million sq km in the middle of the North temperatures warming by 2°C above pre- by a third. According to Copernicus, the EU’s warming and could fall into the extreme risk
Pacific Ocean. Among the waste that makes up industrial levels, nearly three-quarters of the climate observation service, the old category within a single generation,
this island of garbage, a large part appears to world’s food production could face “extreme continent saw its hottest summer on record. according to the study. And this kind of
come from floating materials resulting from risks” from heat stress by 2045, affecting 64 According to scientists’ estimates, such hot future would pose a problem on a global
fishing-related activities, as revealed by a recent countries and accounting for 71% of global conditions will occur again. scale since the country is the third-largest
study published in Scientific Reports. food production. agricultural producer in the world. Brazilian
We now have a better idea of how food agriculture is centred around staple foods
Researchers from the Ocean Cleanup project For many, 2022 was a scorcher. For production could be threatened by global such as oranges, sugar cane and soybeans. In
and Wageningen University in the Netherlands farmers, this year forced them to face water warming in the long term. The British firm its forecasts for 2045, the British firm
collected 6,093 pieces of trash measuring less restrictions due to the record droughts that Verisk Maplecroft recently published estimates that nine of the ten countries most
than 5cm from the garbage patch and analysed seriously endangered various crops, such as forecasting research that estimates that at risk could be on the African continent,
them one by one. The most common plastic corn, but also fruit. Before the summer, India nearly three-quarters of the world’s food including Ghana, Togo and the Central
objects were unrecognisable plastic fragments. had already banned wheat exports, the production could face “extreme risks” from African Republic.
However, fishing and aquaculture equipment production of which had dropped due to heat stress by 2045, affecting over 60
was the second-largest category of trash. intense heat waves. In Northern Italy, home countries. In the case of temperatures In Europe, Montenegro, Italy and five
other countries are among the ten
The researchers were able to identify a total destinations where the risk of experiencing
of 232 plastic objects and their country of origin such a situation is most heightened.
based on elements such as language, text,
company names or brand logos. A significant According to the report, intense heat
portion of this waste was found to come from waves already pose extreme risks to
Japan (34%), China (32%), South Korea (10%), agriculture and food production in 20
the United States (7%) and Taiwan (6%). countries around the world, including India,
Eritrea, Djibouti, Bangladesh, the United
The study highlights the important role that Arab Emirates, South Sudan and the
the fishing industry plays in addressing the Sultanate of Oman. – ETX Studio
global issue of plastic pollution in the ocean.

“While recent assessments for plastic inputs
into the ocean point to coastal developing
economies and rivers as major contributors to
oceanic plastic pollution, here we show that
most floating plastics in the North Pacific
subtropical gyre can be traced back to five
industrialised fishing nations,“ the researchers
conclude. – ETX Studio
The results show that Japan, China, South Korea,
the US and Taiwan are among the key producers
of ocean plastics. – GETTY

Deforestation also affect the quality of the water we drink
INTENSE droughts have supplies approximately one million
consequences for forests. And in people with drinking water.
some ecosystems, tree losses could
also affect water reservoirs, as is A study conducted by the
already the case in part of Germany. Helmholtz Center for Environmental
Forests play a key role in the water Research (UFZ) demonstrates the
cycle. They filter and bind nutrients, a potential effects of deforestation in
necessary condition for good water this region on the drinking water
quality. The fewer nutrients there are yields of the Rappbode reservoir. And
in the water contained in reservoirs, the predictions are not encouraging,
the easier it is to treat for drinking. because anticipated deforestation
But intense droughts and forest could result in an 85% increase in
fires, exacerbated by climate change, dissolved phosphorus concentration, The Harz
lead to the death of trees, making and an over 120% increase in Mountains in
them vulnerable to parasites and nitrogen concentration in the Germany lost 50%
diseases. reservoir’s Rappbode pre-dam in just of its forest cover
This is, for example, the case in 15 years. between 2015 and
Germany, in the Harz Mountains, 2020 due to
located in the north of the country, Since the rapid decline of forests prolonged drought
which lost 50% of its forest cover in the eastern Harz region has now events. – GETTY
between 2015 and 2020 due to become “a matter of grave concern surprised by the extent of this effect,“
prolonged drought episodes. for the reservoir and waterworks reforestation projects with more more pronounced effect on reservoir explains Xiangzhen Kong, a
However, this German region is also operators,“ several solutions will need drought-resistant tree species. water quality than direct effects of researcher at UFZ and study co-
home to the Rappbode reservoir, one to be considered, according to the climate change such as elevated author. – ETX Studio
of the largest in the country, which study authors. These include the “Forest dieback as an indirect water temperature. We were actually
reduction of nutrient inputs to consequence of climate change has a
reservoir catchment areas or

Growing HEALTH
sleep troubles
19theSun LYFE ON TUESDAY | SEPTEMBER 20, 2022
o Sleep apnea can lead to
serious health problems, such Snoring should not be viewed as just a
as high blood pressure and sleep nuisance. - ALL PIX BY FREEPIK
heart trouble,ifuntreated

█ BY MARK MATHEN VICTOR specialist, sleep apnea occurs when A CPAP machine is expensive, but
the upper airway muscles relax is considered the gold standard
MUCH like the physical during sleep and pinch off the in treating sleep apnea.
changes that occur as a airway, preventing the sufferer from
child transitions into getting enough air.
becoming a teenager,
the same occurs when the latter At this point, breathing is
grows into an adult. “paused” for ten seconds or more,
before their reflexes fires up and
One such change is how snoring they begin breathing again,
becomes a thing, and progressively repeating the cycle of snoring and
becomes worse, as in louder, as the “choking” throughout the night.
years pile on into later adulthood.
This condition is called
A majority of men will develop Obstructive Sleep Apnea (OSA).
snoring, and some women too, and
these are usually first noticed by On paper, it doesn’t sound like a
family members, and then by big deal, but think about it.
partners, romantic or otherwise.
When the breathing stops, the
For many – except the snorer – brain is cut off from oxygen, which
this is an annoyance, especially at causes slow – but sure – overall
night when they’re trying to sleep in system failure, such as placing
the same room as a person that is undue strain on the heart and lungs,
unconsciously emulating the while at the same time disrupting
sounds of a jet engine. sleep and rest.

Therein lies the problem; it’s Studies have shown OSA can
viewed as just an annoyance, lead to early onset of hypertension
nothing more, nothing less. and diabetes, which snowballs into
heart disease and stroke.
In reality, the act of snoring is a
telltale sign that something is either Those that display the “snoring,
wrong or worsening in the snorer, choking, quiet, rinse and repeat”
particularly, in their throat. symptoms almost unanimously also
say they feel tired after waking up
They may be suffering from sleep from seven or more hours of sleep,
apnea. and they don’t know why that is.
Silent killer
According to Dr Jonathan Jun, a It is because they have OSA, and
pulmonary and sleep medicine the fact that makes it a slow killer is
that those who suffer from it, simply
are not aware that they have it.

Microsleep is Risks and prevention 1,305 fatalities between 2011 and
known to It is worth noting that not everyone 2021 were attributed to drivers
occur while that snores has sleep apnea, and not falling asleep on the road.
driving. everyone that has sleep apnea are
snoring away at night. In order to properly diagnose
OSA, a sleep study is usually done,
Other than the snoring and and assessment usually looks like
choking, the clearest indicator that several factors, such as obesity
something is wrong is the morning (heavier individuals are most at
after, when sufferer has unexplained risk), neck circumference, facial
tiredness, and if they’re displaying bone structure and so on.
microsleep episodes throughout the
day. Unfortunately, there is no simple
solution when it comes to
Microsleep is the involuntary treatment. Most commonly,
moment when someone “falls Continuous Positive Airway
asleep” for seemingly no reason. Pressure (CPAP) machine is
deployed, where OSA sufferers have
These episodes can last up to 15 to wear a mask before going to bed.
seconds, and can occur any time at
all. For instance, when driving, According to Dr Iqbal Farim, a
which obviously poses a risk to the Consultant Ear, Nose and Throat
driver and those around them. Surgeon, the best treatment plan
will depend on each individual
Bear in mind that according to patient.
the Royal Malaysia Police, a total of

EDUCATION

20 theSun LYFE ON TUESDAY | SEPTEMBER 20, 2022

LIFELONG learning refers to the process MSU widens access to
of gaining knowledge and learning new higher education
skills throughout your life. Many people programme. Its offer offers industry in-demand opportunities by offering flexible learning region, the University’s programmes of study
continue their education for personal programmes that provide flexible and made modes and programs. are meticulously crafted to enhance graduate
development and fulfilment, while others see it easy learning assessments that shall fulfil his or potential, producing graduates that are a
as a significant step toward career her needs for comprehensive education in Blending technical vocational education popular pick among employers.
advancement. preferred areas of study. These stackable and training (TVET) with traditional academic
programmes will allow for exemptions into curricula, MSU enhances competencies with MSU comprises the Faculty of Health and
As one of the national Accreditation of Prior academic programmes at MSU. industry internship, community and creative Life Sciences, the Faculty of Business
Experiential Learning (APEL) centres, MSU APEL Centre is managed by the MSU entrepreneurship, as well as global exposure; Management and Professional Studies, the
Management and Science University (MSU) Continuing and Extended Education Centre empowering MSU graduates with the well- Faculty of Information Sciences and
offers breakthrough ways for working adults (CEdEC). It was established with the aim to roundedness desired and sought after by Engineering, the International Medical School,
wishing to further their studies. A wide range of excel at providing continuing education in employers. the School of Pharmacy, the School of
programmes is offered with the student’s tandem with society’s current needs. Education and Social Sciences, the School of
convenience as well as their educational and Promoting lifelong education, CEdEC Among the Hospitality and Creative Arts, the School of
professional backgrounds in mind. offers programmes that suit best those in best in Graduate Studies and the Graduate School of
the Management.
With ten locations including Sabah and
Sarawak for potential candidates to take the need of flexibility in the scheduling and For a full range and information on
APEL Aptitude Test as the non-conventional overall conduct of the teaching and flexible programmes offered at
pre-qualification for entry into higher studies, learning experiences. MSU, please call 03-5521 6868,
MSU currently offers APEL (A) and APEL (C) at As professional adults in the working email enquiry@msu.edu.my, or
T-3 (Certificate), T-4 (Diploma), T-6 (Bachelor’s world or self-managed professions, the visit www.msu.edu.my
degree), and T-7 (Master’s degree) levels. demands to balance work and study
are an everyday struggle, be it Prospective candidates are
Introduced and approved by the Malaysian financially, personally, or required to sit for the APEL
Qualifications Agency (MQA), APEL widens professionally. Keeping up
access to higher education for adult learners with the pace of the Aptitude Test as part
who are richly work-experienced yet lack industries’ of the process to
academic qualifications. evolving evaluate their
scenarios, eligibility for
APEL (A) or Accreditation of Prior MSU is enrolment.
Experiential Learning allows working providing
professionals with a direct pathway towards
higher education without prior formal
educational qualifications. It is a systematic
process that involves the identification,
documentation and assessment of prior
experiential learning to determine the extent to
which an individual has achieved the desired
learning outcomes, for access to a programme
of study and/or award of credits.

Otherwise, APEL (C) or Accreditation of
Prior Experiential Learning via Credit Transfer
allows the assessment of credits against
matching modules in a programme of study.
The APEL C pathway provides credit transfer for
entry into diploma programmes right up to
PhD. Once an APEL C applicant’s competency
level is determined, those credits can shorten
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DU019(B)

322 Notices 21theSUN ON TUESDAY | SEPTEMBER 20, 2022
* SPORTS
322 Notices 322 Notices 322 Notices
Points Smithcallsfor
IN THE MATTER OF THE IN THE MATTER OF THE 322 Notices resolution on
COMPANIES ACT, 2016 COMPANIES ACT, 2016 ranking after LIV win
DALAM MAHKAMAH TINGGI MALAYA
AND AND DI SHAH ALAM to ponder
IN THE MATTER OF IN THE MATTER OF DALAM NEGERI CAMERON SMITH, who
HAPPY LEGACY SDN. BHD. RM ORIENTAL SDN. BHD. claimed his maiden LIV the next five years with his win at
(Company No. 201401002018 (Company No. 201401003820 SELANGOR DARUL EHSAN Golf victory yesterday, the British Open in July.
DALAM KEBANKRAPAN said a decision on
(1078092-P) (1079893-T) NO:BA-29NCC-1592-07/2022 “There needs to be (a
(In Members’ Voluntary Liquidation) (In Members’ Voluntary Liquidation) BERKENAAN: resolution) quite soon, I think.
At a General Meeting of the Members At a General Meeting of the Members SUNMUGANATHAN A/L KANNAN whether he and other The field here is strong enough
of the abovenamed Company, duly of the abovenamed Company, duly [NO. K/P: 750506-14-5227] competitors on the Saudi and deep enough to where it
convened and held at Suite 1, No. convened and held at Suite 1, No. … PENGHUTANG PENGHAKIMAN Arabia-backed series will receive warrants that, and hopefully it’s
25, Jalan Meranti Merah, Melodies 25, Jalan Meranti Merah, Melodies EX-PARTE: world rankings points needs to soon.”
Garden, 80250 Johor Bahru, Johor on Garden, 80250 Johor Bahru, Johor on RAVIKUMAR A/L S.P.THIYAGARAJA be made soon.
15th September 2022 at 10.00 am, the 15th September 2022 at 11.00 am, the [NO. K/P: 760127-14-5381] LIV Golf has lured players
following Special Resolution was duly following Special Resolution was duly LIV Golf, which held its fifth away from the PGA Tour with
passed :- passed :- … PEMIUTANG PENGHAKIMAN event last week in Chicago, staggering sums of money but
“That the Company be wound up “That the Company be wound up NOTIS PENGIKLANAN applied for recognition in golf’s the financial windfall could
voluntarily pursuant to Section 439(1) voluntarily pursuant to Section 439(1) Kepada:- world rankings – which play a come at a cost for those still
(b) of the Companies Act, 2016 and (b) of the Companies Act, 2016 and SUNMUGANATHAN A/L KANNAN 322 Notices key role in deciding entry into looking to compete in the
that Mr. Quek Ser Peng of c/o Suite 1, that Mr. Quek Ser Peng of c/o Suite 1, (NO. K/P: 750506-14-5227) 322 Notices golf’s four majors – in July and Masters, PGA Championship,
No. 25, Jalan Meranti Merah, Melodies No. 25, Jalan Meranti Merah, Melodies No.11-2A, Jalan KOOP Cuepacs 4A, their file remains under review. US Open and British Open.
Garden, 80250 Johor Bahru, Johor be Garden, 80250 Johor Bahru, Johor be Taman Cuepacs,
and is hereby appointed as Liquidator and is hereby appointed as Liquidator 43200, Cheras, Smith was one of 12 major Smith shot a 3-under 69
for the purpose of such winding up with for the purpose of such winding up with Selangor Darul Ehsan champions in the 48-player LIV yesterday to win while 4 Aces GC
all powers given by Section 456 of the all powers given by Section 456 of the AMBIL PERHATIAN bahawa suatu Golf field last week at Rich finished atop the leaderboard in
Companies Act, 2016. Companies Act, 2016. Notis Kebankrapan telah dikeluarkan Harvest Farms where he secured team play in Sugar Grove,
And that the Liquidator be indemnified by And that the Liquidator be indemnified by terhadap kamu di Mahkamah a three-shot win. Illinois.
the Company against all costs, charges, the Company against all costs, charges, Tinggi Malaya di Shah Alam oleh “I suppose He finished at 13-under 203,
losses, expenses and liabilities incurred losses, expenses and liabilities incurred RAVIKUMAR A/L S.P.THIYAGARAJA there’s a lot on three strokes better than Peter
in or sustained by him in the execution in or sustained by him in the execution (NO. K/P: 760127-14-5381) yang the line with Uihlein (69) and Dustin Johnson
and discharge of his duties as Liquidator and discharge of his duties as Liquidator beralamat di No.45, Jalan Seraya 4, the ranking (70), who both tied for second
and in relation thereto.” and in relation thereto.” Taman Seraya, Mantin, 71700 Negeri points, getting place.
NG NYET KENG (F) NG NYET KENG (F) Sembilan, menuntut wang sejumlah into majors,
Company Secretary Company Secretary RM100,500.00 setakat 16.6.2022 Despite finishing as a runner-
Dated this 20-9-2022 Dated this 20-9-2022 dan Mahkamah telah memerintahkan stuff like that,” up as an individual, Johnson
bahawa Notis Kebankrapan dan said Smith, managed to lead 4 Aces GC to its
IN THE MATTER OF THE IN THE MATTER OF THE Permintaan Mengeluarkan Notis who earned fourth consecutive No. 1 finish.
COMPANIES ACT, 2016 COMPANIES ACT, 2016 Kebankrapan bertarikh 12.07.2022 e x e m p t i o n The team also consisted of
(“Notis Kebankrapan dan Pemintaan into golf’s four Patrick Reed (68), Talor Gooch
AND AND tersebut”) diserahkan kepada kamu majors for (73) and Pat Perez (69).
IN THE MATTER OF IN THE MATTER OF melalui penyampaian ganti menurut at least Spain’s Sergio Garcia finished
HAPPY LEGACY SDN. BHD. RM ORIENTAL SDN. BHD. Perintah untuk penyampaian ganti
(Company No. 201401002018 (Company No. 201401003820 bertarikh 18.08.2022 (dokumen- tied for fourth with Chilean
dokumen tersebut) di Papan Kenyataan Joaquin Niemann with a 5-
(1078092-P) (1079893-T) Mahkamah Tinggi Shah Alam dan juga under 67 and South Africans
(In Members’ Voluntary Liquidation) (In Members’ Voluntary Liquidation) di tempat nyata di alamat terakhir Louis Oosthuizen and Charles
NOTICE IS HEREBY GIVEN THAT the NOTICE IS HEREBY GIVEN THAT the kamu seperti yang dinyatakan di
Creditors of the abovenamed Company, Creditors of the abovenamed Company, atas dan melalui penyiaran satu hari
which is being voluntarily wound up, are which is being voluntarily wound up, are sahaja di dalam satu keluaran akhbar
required on or before 24th October 2022 required on or before 24th October 2022 tempatan Bahasa Inggeris, “The Sun”
to send in their names and addresses to send in their names and addresses dan bahawasanya penampalan dan
with particulars of their debts and with particulars of their debts and penyiaran tersebut adalah disifatkan
claims, and the names and addresses of claims, and the names and addresses of sebagai penyampaian yang cukup dan
their solicitors (if any) to the undersigned their solicitors (if any) to the undersigned sempurna bagi penyampaian Notis
liquidator at Suite 1, No. 25, Jalan liquidator at Suite 1, No. 25, Jalan Kebankrapan tersebut kepada kamu
Meranti Merah, Melodies Garden, 80250 Meranti Merah, Melodies Garden, 80250 empat belas (14) hari selepas tarikh
Johor Bahru, Johor and if so required by Johor Bahru, Johor and if so required by akhir penampalan dan pengiklanan.
notice in writing from the said Liquidator, notice in writing from the said Liquidator, AMBIL NOTIS sekiranya kamu ingin
are, by their solicitors or personally, are, by their solicitors or personally, membela tindakan tersebut kamu
required to come in and prove their debts required to come in and prove their debts hendaklah dalam tempoh tujuh (7)
and claims at such time and place as and claims at such time and place as hari selepas serahan terakhir tersebut
shall be specified in such notice, or in shall be specified in such notice, or in memohon kepada Mahkamah untuk
default thereof, they will be excluded default thereof, they will be excluded mengetepikan Notis Kebankrapan
from the benefit of any distribution made from the benefit of any distribution made melalui pemfailan kepada Penolong
before such debts and claims are proved. before such debts and claims are proved. Kanan Pendaftar Mahkamah Tinggi Shah
QUEK SER PENG QUEK SER PENG Alam suatu Afidavit berhubung dengan
Liquidator Liquidator yang diatas dan sekirannya kamu
Dated this 20th September 2022 Dated this 20th September 2022 gagal maka satu Petisyen Kebankrapan
bolehlah dikeluarkan terhadap kamu.
DALAM MAHKAMAH MAJISTRET AMBIL PERHATIAN juga bahawa kamu Schwartzel, who are teammates
DI PETALING JAYA boleh memohon kepada Mahkamah on Stinger GC, both finished
322 Notices Ini untuk memeriksa Notis Kebankrapan six strokes behind Smith.
DALAM NEGERI SELANGOR tersebut. Phil Mickelson notched
DARUL EHSAN, MALAYSIA DALAM MAHKAMAH TINGGI MALAYA DI Bertarikh 26 Ogos 2022
SHAH ALAM ………………………………. the low score of the day with
GUAMAN SIVIL NO: Penolong Kanan Pendaftar a 6-under to finish with a 6-
BB-A72NCvC-496-05/2022 (BAHAGIAN DAGANG) Mahkamah Tinggi Malaya under 210 for the event. –
PETISYEN PENGGULUNGAN SYARIKAT
ANTARA Shah Alam Reuters/AFP
TENAGA NASIONAL BERHAD NO. BA-28NCC-496-09/2022 NOTIS PENGIKLANAN ini difailkan oleh
(No. Syarikat: 199001009294) Tetuan Selvam Shanmugam & Partners
Dalam perkara Ancubic Construction Sdn. Bhd. yang beralamat di No 568-10-11, Office
… PLAINTIF (No. Syarikat: 201201003203 (976728-A)) Suit, 10th Floor, Kompleks Mutiara, Batu
DAN 3 ½, Jalan Ipoh, 51200 Kuala Lumpur.
YAP CHIN CHEE Dan [Ruj: SS&P/1272/2022] Cameron Smith
(No. K/P: 890911-14-5759) [Tel: 03-625 11742]
Dalam perkara Seksyen 465(1)(e) dan Seksyen [Faks: 03-6242 7742]
… DEFENDAN 466(1)(a) Akta Syarikat 2016
NOTIS PENGIKLANAN CALL
(Dalam Perkara mengenai Penyampaian Dan TO PLACE PIN HIGH Homa. “Just kind of one of those
Ganti Writ Saman dan Pernyataan CLASSIFIED ADS Stricker wins weekends you just had to hang
Tuntutan bertarikh 24.5.2022 melalui Dalam perkara Kaedah-Kaedah Sanford in playoff around.”
Perintah Mahkamah bertarikh 12.9.2022) (Penggulungan) Syarikat 1972 MS. SHOBA
Kepada:- STEVE STRICKER made a birdie Andrea prevails
YAP CHIN CHEE ANTARA T 03 7784 8888 putt on the first playoff hole to in Portland
12-3, Desa Mentari Commercial F 03 7784 4424 outduel Robert Karlsson and win
Centre, Jalan PJS 6/6 CEDY THIRD CONTRACTING AND TRADING USED CAR FOR SALE BY AUCTION the Sanford International ANDREA LEE made five birdies
46150 Petaling Jaya (M) SDN. BHD. (No. Syarikat: 201701029187 Bank Repossessed, Used and Restored yesterday at Sioux Falls, South on the back nine yesterday to
Selangor (1243356-K)) Dakota. Stricker shot a final- shoot a 6-under 66 and win the
YAP CHIN CHEE vehicles all priced to sell. round 64 and Karlsson carded a AmazingCre Portland Classic by
1-4A, Jalan Putra Perdana 1/3 …PEMPETISYEN Come join our PUBLIC AUCTION 66 as both golfers finished at 14- one shot in Oregon. Lee had
Taman Putra Perdana DAN on Wednesday, 21st September 2022 under 196. Stricker put together eight birdies overall while
47130 Puchong ANCUBIC CONSTRUCTION SDN. BHD. at 12.00pm. Viewing and inspection a bogey-free round but he was a notching her first career LPGA
Selangor (No. Syarikat: 201201003203 (976728-A)) on Tuesday, 20th September 2022 bit anxious as he eyed his victory. The 24-year-old finished
AMBIL PERHATIAN bahawa satu Writ seventh birdie of the round on at 19-under 269, one shot better
Saman dan Pernyataan Tuntutan bertarikh …RESPONDEN from 9.30am - 5.30pm. the playoff hole (No. 18). “I just than Ecuador’s Daniela Darquea.
24.5.2022 (“Writ tersebut”) dan satu IKLAN PETISYEN Download Pickles Auctions app to view didn’t want to mess up basically “Feels amazing. Better than I
Perintah Untuk Penyampaian Ganti NOTIS ADALAH DENGAN INI DIBERI bahawa and that’s what leads to had imagined,” Lee said. “All the
bertarikh 12.9.2022 (“Perintah tersebut”) suatu Petisyen untuk penggulungan Syarikat all auction listings or visit nervousness, I guess,” Stricker hard work has paid off. It’s been
telah dikeluarkan terhadap kamu di yang dinamakan di atas oleh Mahkamah Tinggi www.pickles.my said after his third victory of the my dream to win on the LPGA
Mahkamah Majistret Petaling Jaya oleh telah, pada 9 September 2022, dikemukakan year. “To have that putt, that Tour, and the fact that I
Tenaga Nasional Berhad (No. Syarikat: oleh CEDY THIRD CONTRACTING AND TRADING Item Reg No Make Model Price opportunity is exciting, but it’s accomplished that today is just
199001009294) yang mempunyai alamat (M) SDN. BHD. TBC nerve wracking all at the same pretty surreal.”
penyampaian di Pejabat Setiausaha DAN bahawa Petisyen tersebut diarahkan 1 MDE6541 2019 DAIHATSU GRAN MAX TBC time.”
Syarikat, Tingkat 2, Ibu Pejabat Tenaga supaya didengarkan di hadapan mahkamah 7,500 MacIntyre comes out
Nasional Berhad, No. 129, Jalan Bangsar, yang bersidang di Mahkamah Tinggi Shah 2 BPL4779 2018 PERODUA ALZA 6,000 Homa shocks tops in Rome
59200, Kuala Lumpur dan Mahkamah telah Alam pada pukul 9:00 pagi pada 16 Januari 3,000 Willett in Napa
memerintahkan supaya Writ dan Perintah 2023. 3 CEL3493 2021 YAMAHA Y16ZR TBC ROBERT MACINTYRE won the
tersebut disampaikan keatas kamu secara DAN mana-mana pihak pemiutang atau TBC A CHIP-IN birdie plus an Italian Open yesterday after
penyampaian ganti dengan menampalkan penyumbang Syarikat tersebut yang ingin 4 JTQ8403 2019 YAMAHA YZF-R15 TBC opponent’s astonishing three- seeing off Matthew Fitzpatrick in
sesalinan Writ tersebut berserta dengan menyokong atau menentang sesuatu TBC putt allowed Max Homa to a playoff at the Marco Simone
sesalinan Perintah tersebut di Papan perintah mengikut Petisyen tersebut boleh 5 DED5366 2021 HONDA DASH 125 AFP125CRFK2 TBC defend his title at the Fortinet Golf and Country Club in Rome.
Notis Mahkamah Majistret Petaling hadir dengan tujuan itu secara peribadi TBC Championship yesterday in Scotland’s MacIntyre claimed his
Jaya, dengan mengeposkan sesalinan atau melalui peguambelanya pada masa 6 MDG1224 2019 MERCEDES-BENZ C300 13,000 Napa, California. Englishman second win on the European
Writ tersebut berserta dengan sesalinan perbicaraan. Salinan Petisyen tersebut akan 31,000 Danny Willett led Homa by one PGA tour with a birdie on the first
Perintah tersebut di alamat-alamat dibekalkan oleh pihak yang bertandatangan 7 VFD9007 2020 MERCEDES-BENZ C200 22,000 shot as they played the par-5 playoff hole. “This means
Defendan seperti yang tertera pada di bawah ini kepada mana-mana pemiutang 14,000 18th hole at the Silverado Resort everything… I’ve hit two of the
Writ Saman tersebut yang merupakan atau penyumbang Syarikat tersebut yang 8 DDW1281 2019 MERCEDES-BENZ MB and Spa. Homa’s fourth shot perfect golf shots into the last
alamat Defendan tersebut yang terakhir memintanya dengan membuat bayaran yang dropped for birdie to get Homa there. So much hard work went
diketahui, dan dengan mengiklankan satu ditetapkan. 9 VFE771 2019 MERCEDES-BENZ GLC to 16-under 272. Willett had two into this,” said MacIntyre to Sky.
Notis sekali dalam akhbar “The Sun”. Alamat berdaftar Pempetisyen adalah di 31A, chances to make par but Rory McIlroy was Fitzpatrick’s
DAN BAHAWA penampalan dan Jalan Impian Emas Enam, Taman Impian 10 MDC 496 2018 MERCEDES-BENZ E bogeyed his way out of the title. closest challenger after the third
pengiklanan tersebut hendaklah dianggap Emas, 81300 Skudai, Johor manakala alamat “That was crazy. I still don’t really round but the Northern Irishman
sebagai penyampaian yang sempurna dan perniagaan Pempetisyen adalah di 73 & 73A 11 VN4448 2016 MITSUBISHI FUSO know what happened,“ said finished two shots off the pace
mencukupi Writ Saman dan Pernyataan Jalan Eko Botani 3/7, Taman Eko Botani, 79100 after shooting 3-under.
Tuntutan tersebut keatas Defendan tujuh Iskandar Puteri, Johor. 12 WWT8104 2012 PROTON PREVE
(7) hari selepas pelaksanaan terakhir Peguamcara Pempetisyen ialah Tetuan Chong
tindakan penampalan-penampalan dan + Kheng Hoe yang beralamat di A3-3-6, Solaris 13 JRQ5785 2016 NISSAN ALMERA
pengiklanan tersebut. Dutamas, No.1, Jalan Dutamas 1, 50480 Kuala
DAN AMBIL PERHATIAN SELANJUTNYA Lumpur. 14 BLD7323 2011 PERODUA ALZA
bahawa Saman tersebut tersebut akan Chong + Kheng Hoe
didengar di Mahkamah Majistret Petaling …………………..………………….. 15 JMW9963 2011 MAZDA 3
Jaya, Lorong Sultan, PJS 52, 46505 Tetuan Chong + Kheng Hoe
Petaling Jaya, Selangor pada 4.10.2022, Peguamcara Pempetisyen For more information contact us at Scan QR to download
pukul 9.00 pagi di hadapan Majistret Puan NOTA - Sesiapa yang ingin hadir pada 016-6999170 | 012-5553727 (WhatsApp) Pickles Auctions App
Sara Zuriati binti Zaharifudin di mana perbicaraan Petisyen tersebut hendaklah www.pickles.my | info@pickles.my
kamu perlu menghadirkan diri pada tarikh menyampaikan, atau menghantar dengan
tersebut. Jika kamu gagal menghadirkan pos, kepada Tetuan Chong + Kheng Hoe PICKLES ASIA SDN BHD [1231292-D]
diri pada tarikh tersebut, suatu yang dinamakan di atas suatu notis bertulis Lot 19391, Batu 8 ½, Jalan Klang Lama,
penghakiman ingkar boleh dikeluarkan tentang niatnya sebegitu. Notis tersebut Taman Desaria, 46000 Petaling Jaya, Selangor.
terhadap kamu. mestilah menyatakan nama dan alamat pihak
Sesalinan Writ Saman dan Pernyataan berkenaan, atau jika ia sebuah firma, nama
Tuntutan tersebut dan Perintah tersebut dan alamat firma, dan mestilah ditandatangani
boleh diperiksa oleh kamu atas oleh pihak atau firma berkenaan atau
permintaan di Mahkamah ini. peguamcaranya, jika ada. Notis hendaklah
Bertarikh 12 haribulan September 2022 disampaikan, atau jika dihantar dengan pos,
hendaklah dihantar dalam jangka masa
t.t. mencukupi, supaya sampai kepada pihak
.............................. yang dinamakan di atas sebelum pukul
Peguamcara Plaintif 12:00 tengah hari pada 15 Januari 2023
NOTIS PENGIKLANAN ini telah dikeluarkan (sehari sebelum tarikh yang ditetapkan untuk
oleh Tetuan Vin Law Co. yang beralamat di perbicaraan Petisyen tersebut).
Suite 6.05, Tingkat 6, Wisma E&C, No. 2, IKLAN PETISYEN ini diisukan oleh oleh Tetuan
Lorong Dungun Kiri, Damansara Heights, Chong + Kheng Hoe, peguamcara Pempetisyen
50490 Kuala Lumpur, peguamcara bagi yang dinamakan di atas yang beralamat di A3-
pihak Plaintif. Tel: 03-2093 3300 Faks: 03- 3-6, Solaris Dutamas, No.1 Jalan Dutamas 1,
2093 2200 / emel: elaine@vinlawco.com 50480 Kuala Lumpur.
(Ruj: VR/LIT/61/2021/TNB-YAP(KUPM)) [Tel: 03-6205 3928 / E-mel: ask@ckh.law /
Rujukan: 22091629]