Morning: Two Abdul Karim-Owned Companies in A Standoff With Bursa

MALAYSIA-SINGAPORE VACCINATED TRAVEL LANE
TO BE LAUNCHED ON NOV 29 p2
T U E S DAY, N OV E M B E R 9 , 2 0 2 1 w w w. t h e e d g e m a r k e t s. c o m
ISSUE 277/2021
CEOMorningBrief
HOME: Gig economy workers not included under definition of workers — deputy minister p7
Govt reviewing laws related to gambling — Home Ministry p8
The Edge Billion Ringgit Club gala dinner returns to salute corporate excellence p16
WORLD: Bubble fears are rising as financial conditions flash boom times p20
Two Abdul Karim-

owned companies in
a standoff with Bursa Prosecution
Serba Dinamik sues SCIB yet to issue
annual report,
fails in
Bursa for acting
‘in excess of power’; at suspension risk forfeiting
exchange says it is
entitled to exercise
Report on Page 5 Najib and
its authority family’s
Report on Page 4
seized
assets
Report on Page 6.
CMB_190mm(w)x50mm(h)_9Nov2021 OL.pdf 1 11/3/2021 3:35:57 PM
Y
t u e s d ay n o v e m b e r 9 , 2 0 2 1 2 TheEdge CEO morning brief
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h o m e
KUALA LUMPUR (Nov 8): Malaysia those we have already developed previous-
and Singapore will launch a vaccinat- Malaysia- ly to facilitate movements of people and
ed travel lane (VTL) between the Kuala
Lumpur International Airport (KLIA) and Singapore goods between Malaysia and Singapore,”
said Ismail Sabri in the statement.
Changi Airport on Nov 29, according to
a joint press statement by the leaders of vaccinated travel Meanwhile, Lee highlighted in the state-
ment that Singapore and Malaysia enjoy
the two countries.
“Under the VTL, fully vaccinated travel-
lane to be launched deep, warm and multifaceted relations.
“I am very happy that both our coun-
lers will be able to travel between Singapore
and Malaysia, and be subjected to Cov-
on Nov 29 tries are finally able to restart cross-border
travel through the VTLs.
id-19 tests in lieu of serving quarantine or “This will help revive our economies, re-
the stay-home notice,” said Prime Minister by sulhi khalid store our people-to-people ties and strength-
Datuk Seri Ismail SabriYaakob and Singa- theedgemarkets.com en our bilateral relationship,” he added.
porean Prime Minister Lee Hsien Loong in The statement noted that the two
the statement on Monday (Nov 8). “The VTLs will allow travel as our two premiers spoke on the phone on Monday
The two prime ministers also look for- countries gradually reopen our borders re- and they were happy to note the good pro-
ward to restoring travel across the land links sponsibly by balancing the need to recover gress in ongoing detailed discussions on a
between the two countries in the near future. our economies while ensuring the safety similar vaccinated travel scheme to reopen
“The VTLs are another important mile- and health of our peoples from Covid-19. travel across the Causeway and the Sec-
stone in the long-standing Malaysia-Sin- “I look forward to the effective imple- ond Link, taking into account the public
gapore cooperation. mentation of this travel scheme, adding to health situations in Johor and Singapore.
M’sia ready to discuss quarantine-free travel lane

for fully-vaxxed UK travellers — Khairy
KUALA LUMPUR (Nov 8): Malaysia Bernama detected in two import cases in the country,
is ready to discuss with the United King- Khairy said it is still categorised as a vari-
dom (UK) on opening up the vaccinated consider allowing Malaysian travellers who ant under investigation (VUI) and had not
travel lane (VTL) for its fully vaccinated received the Sinovac vaccine to also enter the been defined as a variant of concern (VOC).
citizens to enter Malaysia without having UK without having to undergo quarantine. “It has been found that it is a variant
to undergo quarantine. According to him, currently, only Ma- in which infectivity, especially involving
Health Minister Khairy Jamalud- laysian travellers who have received certain asymptomatic cases, is slightly higher than
din said the matter had been conveyed types of vaccines are allowed to enter the the original Delta variant, but in terms of
to UK Secretary of State for Foreign, country without having to undergo man- severity or symptomatic level it is not worse
Commonwealth and Development Af- datory quarantine. than the original Delta variant,” Khairy said.
fairs Elizabeth Truss with the consent of “I was informed earlier that there is good He said the subvariant is still under in-
Foreign Minister Datuk Saifuddin Ab- news from the UK that will be announced vestigation and monitoring in the country.
dullah in their meeting here on Monday. later. We are hoping it will be about them On Saturday, Health director-general
“We will discuss technical matters and recognising the Sinovac vaccine, so recipi- Tan Sri Dr Noor Hisham Abdullah an-
we will soon announce the VTL timeline ents of the vaccine will also be given quar- nounced the discovery of two Covid-19
for UK travellers who want to enter Malay- antine-free privileges when visiting the UK. cases infected with the subvariant among
sia,” he said after the meeting with Truss. “We would like to thank the UK for be- imported cases, namely Malaysian stu-
Truss arrived in Malaysia on Sunday ing willing to consider Malaysia’s proposal dents who had just returned from the UK.
as part of her first visit to Southeast Asia and request and also from other nations
since being appointed UK Foreign Sec- which use the vaccine as it (the vaccine) is
retary in September 2021. also recognised by the World Health Or- Read also: Covid-19: New infections rise
Meanwhile, Khairy said he had informed ganisation (WHO),” he said. slightly to 4,543 on Nov 8, cumulative cases
Truss on Malaysia’s hopes that the UK will Asked about the Delta AY.4.2 subvariant at 2,510,852, says Health DG Click here
T U E S D AY N O V E M B E R 9 , 2 0 2 1 3 THEEDGE CEO MORNING BRIEF
h o m e
Serba Dinamik sues Bursa for acting

‘in excess of power’; exchange says it is
entitled to exercise its authority
KUALA LUMPUR (Nov 8): Serba Di- by syafiqah salim non-executive directors on Oct 21.
namik Holdings Bhd is taking legal action theedgemarkets.com Bursa suspended the trading of Serba Di-
against Bursa Malaysia to challenge the namik’s securities on Oct 22 and set Oct 26
stock exchange’s directives concerning as the deadline for Serba Dinamik to reveal
the requirement to conduct a special in- the findings of the special independent review.
dependent review and to disclose the find- However, Serba Dinamik, in its filing on
ings of the review. Oct 25, denied that its directors had been given
The oil and gas company, which filed a a “factual findings update” by Ernst &Young
lawsuit against its former auditor KPMG (EY), which is undertaking an independent
over the audit disputes, announced on review of the group’s financial accounts.
Monday that it filed an originating sum- In response to Serba Dinamik’s denial,
mons (OS) against the stock exchange injunctive relief against Bursa pending the Bursa issued a statement to disclose that
at the Kuala Lumpur High Court last full and final disposal of the OS to restrain to its understanding, soft copies of the fac-
Wednesday (Nov 3). the stock exchange from: tual findings update were provided to the
The stock exchange did not back off. company’s independent non–executive di-
Bursa said it will be “defending its position a) making any announcement or other- rectors on Oct 22 and as requested by the
vigorously and will not abdicate its statuto- wise publish, distribute or make avail- directors, physical copies of the same were,
ry roles and functions in the marketplace”. able to anyone the “Factual Findings in addition, delivered to them on Oct 23.
It added that it has engaged a legal Update” prepared by Ernst & Young To recap, the audit saga started in mid-May
counsel to advise on this matter and the Consulting when KPMG highlighted discrepancies in-
next course of action. b) exercising any power to do anything, volving transactions to the tune of RM4.54 bil-
Bursa stressed that being a frontline reg- to instruct and/or otherwise issue any lion to the company’s independent directors.
ulator of the capital market, it is entitled to directive against Serba Dinamik pur- The audit issues raised were based on
exercise its power pursuant to the listing suant to paragraph 2.24 of the MMLR the financial accounts for the financial year
requirements in the interest of maintaining pending the full and final disposal of ended Dec 31, 2020.
an orderly and fair market. “Timely disclo- the OS Subsequently, Serba Dinamik decid-
sure of material information is a key pillar c) issuing any notice to the company and ed to take legal action against KPMG, al-
of ensuring the market is well informed its directors to show cause for any pur- leging that the external auditor had been
of the information and all investors are ported breach of the MMLR. negligent and breached its contractual and
treated equally and able to trade on equal statutory duties to the company.
footing in terms of parity of disclosures. Furthermore, Serba Dinamik, whose Serba Dinamik’s legal consultant Tan
“This is paramount to enable Bursa Se- share price has plunged 78% since the au- Sri Muhammad Shafee Abdullah claimed
curities to discharge its statutory duty,” dit issues were made public, is also seeking that KPMG had raised the red flags in an
the stock exchange said in the statement. damages against Bursa. “inappropriate manner”.
Serba Dinamik argues that the stock Apart from the potential damages to be The company’s shares were last traded
exchange is acting “in excess of power” assessed and costs that may be awarded at 35 sen prior to trading suspension, fall-
in relation to: against Bursa and the corresponding legal ing from RM1.61 prior to the audit issues.
costs, the company said the legal action is Some RM4.6 billion market capitalisation
a) the directive to appoint an auditor to not expected to have any other material has evaporated following the heavy selldown
conduct a special independent audit on financial impact on it for the current fi- on the stock.
its financial accounts pursuant to para- nancial year ending June 30, 2022. Serba Dinamik’s largest sharehold-
graphs 2.23 and 2.24 of the Main Mar- “The OS is [also] not expected to have er Datuk Mohd Abdul Karim Abdullah,
ket Listing Requirements (MMLR) any business and operational impacts on who is also the group managing director
b) instruction dated Oct 22 to announce the company,” said Serba Dinamik, stress- and chief executive officer, disposed of his
a “Factual Findings Update” made by ing that it will make further announce- entire holding of 55.9 million warrants be-
Ernst & Young Consulting Sdn Bhd. ments on the matter. fore the trading suspension.
The application for interim injunctive re- The block of derivatives, which was
Serba Dinamik argues that Bursa has no lief is fixed for hearing this Thursday (Nov equivalent to 6.34% of the total warrants,
authority to direct the company to make an- 11) while the case management for the OS was sold when the price of the warrants
nouncements about material that is unlikely has been fixed on next Wednesday (Nov 17). hover near record low levels.
to comply with paragraphs 9.03 and 9.35A Serba Dinamik locked horns with Bursa The company changed its financial year
of MMLR and any “factual findings update” when the stock exchange demanded the to end on June 30. For the cumulative
that may or may not be used by its auditor company disclose the details from the fac- 18-month period ended June 30, Serba
to form an audit opinion at the end of the tual findings update as at Sept 30 on the Dinamik posted net profit of RM759.98
audit of the company’s financial statements. special independent review that were com- million, or 20.49 sen per share, on revenue
Serba Dinamik said it is seeking interim municated to three out of four independent of RM8.606 billion.
H O M E
SCIB yet to issue

KUALA LUMPUR (Nov 9): Sarawak Con- Sarawak Consolidated
solidated Industries Bhd (SCIB) appeared to
Industries Bhd
annual report, at
have missed its deadline to submit its annual re-
port for the financial year ended June 30, 2021 Vol (mil) RM
suspension risk
(FY21) on Monday (Nov 8). 350 3.0
As at midnight, a check on Bursa Malay-
sia website showed that the precast concrete 300 2.5
product maker, another company controlled 250
by businessman Datuk Dr Mohd Abdul Karim BY SEAH EU HEN 2.0
Abdullah, had not issued its annual report yet. theedgemarkets.com 200
1.5
Failing to do so, the company is at risk of 150
being suspended from trading starting from disputes is that the company is taking legal ac- 1.0
Tuesday (Nov 9). tion against the stock exchange, accusing Bursa 100 RM0.205
RM0.958
It is not known whether the suspension of Malaysia of acting “in excess of its power”, be- 50 0.5
trading for SCIB’s securities will take effect on sides suing its former auditor KPMG.
Tuesday (Nov 9) as previously stated in Bursa’s Back on SCIB, Mohd Abdul Karim trimmed 0 0.0
Nov 9, 2020 Nov 8, 2021
directive to the Sarawak-based company. As at his stake in the building material maker last
press time, the stock exchange had not issued any month. He sold a total of 27.54 million shares Source: Bloomberg
statement in relation to the trading suspension. for about RM4.59 million at 15.5 sen apiece
Should that happen, SCIB will be the second on Oct 28 and at 18 sen per share on Oct 29,
company under Mohd Abdul Karim’s belt that according to bourse filings. July 26 following its sister company Serba
has been suspended from trading by the stock Mohd Abdul Karim currently holds a Dinamik’s legal suit against KPMG over audit
exchange due to non-compliance. 23.996% stake in SCIB and a 21.23% stake in issues. The company said that the impact of
The other company that has been suspended Serba Dinamik. He is also the biggest shareholder movement restrictions in Malaysia and over-
from trading is Serba Dinamik Holdings Bhd.The of KPower Bhd with an equity stake of 20.86%. seas due to Covid-19 had also hampered its
sister company has been suspended since Oct 22 SCIB was given an ultimatum to submit efforts to finalise and issue the annual report.
after the latter failed to comply with the stock ex- its FY21 annual report by Nov 8 by Bursa Interestingly, SCIB was the 14th most
change’s directive to reveal the factual findings on Oct 31 after its application for an exten- traded stock with a trading volume of 34.67
update of its ongoing special independent review sion of time to submit its annual report was million shares. Its share price went up two
of the discrepancies in its financial accounts for rejected by the regulator on Oct 25. sen to close at 20.5 sen on Monday, giving it
the 12-month period ended Dec 31, 2020. SCIB explained that it had a change in a market capitalisation of RM119.3 million,
The latest twist to Serba Dinamik’s audit external auditor after KPMG resigned on despite the suspension risk.
h o m e
Prosecution fails
KUALA LUMPUR (Nov 8): The prose- Bhd (1MDB) officers Kee Kok Thiam,Tan
cution has failed to forfeit seized assets of Vern Tact and Geh Choh Hun.
in forfeiting Najib
Datuk Seri Najib Razak and his family, with “I have considered the uncontroverted de-
the court saying that there were no credible ferments in the applicant’s affidavit pertaining
and family’s
attempts made to show that the properties to these respondents, and then satisfied on the
seized were bought using monies in the for- balance of probabilities that these respondents
seized assets
mer prime minister’s accounts. have absconded and that the unrebutted evi-
High Court Judge Mohamed Zaini Ma- dence would warrant their conviction.
zlan dismissed the forfeiture against the for- “The applicant’s applications to forfeit
mer premier, his wife Datin Seri Rosmah the properties belonging to these respond-
Mansor, the pair’s children Nooryana Najwa by Ahmad Naqib Idris & Izzul Ikram ents are therefore allowed,” Justice Zaini said.
Najib and Nor Ashman Najib, and Ros- theedgemarkets.com Among the seized items were 263 brand-
mah’s other son Riza Shahriz Abdul Aziz. ed handbags, 14 pieces of branded watches,
“There were no credible attempts made in these bank accounts were linked to any 27 pairs of branded shoes, monies in various
to show the nexus between the properties illegal transactions or that they were pro- amounts in banks, cash in various denomi-
seized and the unlawful activities. No evi- ceeds of the unlawful activities,” he added. nations including some RM725,000, Goh’s
dence has been proffered to show that the Justice Zaini also dismissed the forfeiture Tanjung Bungah bungalow in Penang, 26
properties seized were bought using the of Nissan vehicles belonging to Senijauhar Nissan Urvan vehicles and a Nissan X-Trail,
monies in Najib’s bank accounts. Sdn Bhd and Aiman Ruslan, which were al- all said to be worth in excess of RM31 million.
“The applicant merely listed down the legedly purchased with unlawful monies as
properties seized and their value, and in turn the prosecution failed to show a direct nexus.
concluded that these respondents did not On the other hand, Justice Zaini al- Read also:
have the means to have such huge amounts lowed the forfeiture actions against the
of cash or purchase these properties with respondents who did not contest against High Court dismisses forfeiture of
their income, or the lack of it,” he said. the applications, namely Mohd Kyizzad monies, Penang bungalow from Jho
Likewise, the forfeiture of the properties Mesran,Yayasan Rakyat 1Malaysia,Yayas- Low’s mother Click here
of Jho Low’s mother Puan Sri Goh Gaik an Semesta, Yayasan Mustika Kasih and
Ewe — concerning monies in three Hong Rembulan Kembara Sdn Bhd.
Leong Bank accounts and a bungalow in “The allegations against these respond- Govt fails in bid to forfeit monies from
Penang — as well as former Goldman Sachs ents are deemed to be admitted as they Roger Ng and wife Click here
banker Roger Ng Chong Hwa and his lawyer have not been contested.The prosecution’s
wife Lim Hwee Bin — concerning monies applications in respect to their properties
held in seven bank accounts — were also are therefore allowed,” he said. Lebanese jeweller completes inspection
dismissed by Justice Zaini. The properties of the respondents who of seized jewellery involved in govt
“The prosecution had merely shown did not contest the forfeiture included 40 forfeiture suit; Najib and Rosmah not
monies credited into the bank accounts but handbags and the monies in their bank present Click here
did not provide any evidence of how these accounts.
bank accounts were related to, or used for, Additionally, the High Court judge also
the commission of the unlawful activities. allowed the forfeiture of the assets of the re- Saudi national Tarek Obaid appoints
“The prosecution also did not offer any spondents who had absconded from Malay- law firm to represent him in 1MDB suit
evidence to show how the monies deposited sia, namely former 1Malaysia Development Click here
Govt recovers almost half of RM31m 1MDB-related assets seized

KUALA LUMPUR (Nov 8): The Ma- by Izzul Ikram & Ahmad Naqib Idris legations against them are deemed to
laysian government has successfully re- theedgemarkets.com be admitted as they have not been con-
covered almost half of the more than tested.
RM31 million worth of assets it had £2,700 and Sri Lankan Rupee 2.87 million,” “The applicant’s application for for-
seized or froze from 18 different persons Justice Zaini added. feiture in respect of their properties are
in relation to 1Malaysia Development Additionally, the judge allowed the for- therefore allowed,” he added.
Bhd (1MDB). feiture of respondents six, nine, 10, 11 and Justice Zaini also ruled that the as-
High Court judge Mohamed Zaini 12 — Mohd Kyizzad Mesran,Yayasan Rak- sets of former 1MDB officers Kee Kok
Mazlan on Monday had partially allowed yat 1Malaysia, Yayasan Semesta, Yayasan Tham, Tan Vern Tact and Geh Choh
the forfeiture of select assets of nine re- Mustika Kasih and Rembulan Kembara Hun — respondents 16, 17 and 18 —
spondents named in the suit, namely Sdn Bhd respectively — as they failed to amounting to RM8,277,273.60 in vari-
respondents three, six, nine, 10, 11, 12, contest the application. ous bank accounts are also to be forfeited
16, 17 and 18. “The properties sought to be forfeited as they had absconded from Malaysia
The third respondent Riza Shahriz are 40 handbags and the monies (collective since April 2018.
Abdul Aziz — Datuk Seri Najib Razak’s RM7,010,213.20) in the bank accounts of “The authorities, including Interpol,
stepson — had consented to the forfei- these respondents. were not able to trace their whereabouts,
ture, which was recorded on May 19, “None of these respondents have made and there are no records of them return-
2020. any appearance or filed an affidavit to op- ing to Malaysia.
“The items forfeited were RM537,000, pose the applicant’s application. The al- co n ti n ues o n Pag e 7
h o m e
Gig economy
KUALA LUMPUR (Nov 8): Gig econo- dinance (Sarawak Chapter 76).
my workers in the country are not includ- He said that the definition of a “work-
workers not
ed under the definition of a worker un- er” under Act 265, the Labour Ordinance
der the Employment Act 1955 (Act 265), (Sabah Chapter 67) and Labour Ordinance
included under
the Labour Ordinance (Sabah Chapter (Sarawak Chapter 76) are individuals who
67) and the Labour Ordinance (Sarawak are bound under a service contract with
definition of
Chapter 76), the Dewan Rakyat was told their employers.
on Monday (Nov 8). Gig economy workers are individuals
workers —
Deputy Human Resources Minister Da- who are self-employed and free, and are
tuk Awang Hashim said that thus far, there focused only on the job scope and the du-
deputy minister
was no record or filing of labour cases re- ration that has been decided with the pay-
garding this group of gig workers that could ment already agreed upon.
be used as a benchmark (or a test case) that The gig characteristic and work system
would allow gig economy workers to enjoy enable both the organisations and workers
similar benefits as workers as clearly defined Bernama to operate under a contract that is more flex-
under the country’s labour law. ible and more open, without being tied to
“Under the gig employment system and tan Harapan [PH]-Pulai) and Datuk Seri full-time workers and an office environment.
contract for service as agreed, gig econo- Dzulkefly Ahmad (PH-Kuala Selangor) who In his reply to a question from Ahmad
my workers are not subject to the Nation- wanted clarification whether the government Hassan (Warisan-Papar) regarding policies
al Wages Consultative Council Act 2011 had plans to introduce a minimum wage and new programmes to create a new source
(Act 732) and the Minimum Wages Order under the gig economy business industry, of income while retaining the existing staff
(PGM) 2020,” he said during a question similar to what is practised in the UK. in Sabah, Awang said that the government
and answer session in the Dewan Rakyat Citing the Uber versus Aslam case in the will introduce several new initiatives, so that
on Monday. UK, Awang said that gig economy workers new job opportunities can be created and
However, he said that the government, in the UK received minimum wage protec- offered to all levels of jobseekers.
under the Self-Employment Social Security tion after workers complained about con- “In an economic environment that is still
Act 2017 (Act 789), provides social security stantly changing delivery wage rates. in the recovery phase, the government, via
protection to self-employed individuals, in- He also explained that Act 732 and the Social Security Organisation (SOCSO),
cluding gig economy workers such as those PGM 2020 are applicable to every work- has introduced the Hiring Incentive and
doing food delivery and e-hailing services er in the private sector except for domestic Training Programme, as well as Mobility
if they make contributions under the Act. services as defined under the Employment Assistance under PENJANA (National Eco-
He said this when replying to questions Act 1955 (Act 265), the Labour Ordinance nomic Recovery Plan) to stimulate recruit-
from Datuk Seri Salahuddin Ayub (Paka- (Sabah Chapter 67) and the Labour Or- ment by employers,” he said.
the edge file photo
from Pag e 6 EPF to unveil

sector-specific
“I have considered the uncontro-
verted averments in the applicant’s
policy framework
affidavit pertaining to these respond-
ents and am satisfied on a balance of
for ESG
probabilities that these respondents
have absconded and that the unre- risk and value enhancement.
investments by
butted evidence would warrant their “We have identified three important sec-
conviction. tors in Malaysia and come up with sectoral
year end
“The applicant’s application to policies as well as issue policies, and one of
forfeit the properties belonging to the key issues is climate change.
these respondents are therefore al- “The market at large will understand our
lowed,” he said. thinking and how we look at ESG in a par-
Meanwhile, the government failed by Shazni Ong ticular sector,” she said during a panel session
to forfeit the assets of the other re- theedgemarkets.com on “How Malaysia has Developed an Equity
spondents named in the application, Market that Emphasises Sustainability” at the
namely Najib, his wife Datin Seri KUALA LUMPUR (Nov 8): The Employ- Sustainable Finance Week held in conjunction
Rosmah Mansor, the pair’s children ees Provident Fund (EPF) is expected to with Malaysia’s participation at the Expo 2020
and others named in the forfeiture announce a sector-specific sustainability Dubai held virtually on Monday (Nov 8).
application. policy framework by year end as part of its Rohaya said there are a lot of ongoing en-
The assets the government had guidance for future investments that will gagements with companies in order to under-
seized included 263 branded hand- comply with environmental, social and stand where they are in this particular jour-
bags, cash in various denominations governance (ESG) practices. ney, given their differences in pace in ESG
including some RM725,000, Jho EPF chief investment officer Rohaya adoption.
Low’s mother Puan Sri Goh Gaik Mohammad Yusof said a lot of investors “We need to understand whether they are
Ewe’s bungalow in Penang, and 27 are now looking at integrating ESG into able to comply with certain standards we put
Nissan vehicles, all said to be worth their investment making decisions, and that through. ESG is mainstream and is important
in excess of RM31 million. ESG practices as well as sustainability have for investors like us to take into consideration
become extremely important in mitigating in our investments,” she said.
h o m e
bloomberg authorities, to disable these activities,”

he said during the question-and-answer
session in the Dewan Rakyat on Mon-
day (Nov 8).
He was replying to a question from
Noorita Sual (Pakatan Harapan-Tenom)
about the steps and legal action taken to
curb and combat online gambling, which
is becoming increasingly prevalent.
Ismail said PDRM is also working
with the Malaysian Communications
and Multimedia Commission to block
gambling websites under Section 263 (2)
of the Communications and Multime-
dia Act 1998.
PDRM, he said, is also working with
Govt reviewing
KUALA LUMPUR (Nov 8): The govern- utility companies such as Tenaga Na-
ment is reviewing the existing laws related sional Bhd (TNB) and water conces-
laws related to
to gambling for improvements to ensure sionaires to cut off electricity and water
that they are relevant to changes in the supply to premises often used by gam-
gambling —
modus operandi of gambling syndicates, bling syndicates.
especially online gambling, according to Apart from that, he said PDRM had
Home Ministry
the Ministry of Home Affairs. also taken action against parties involved
Deputy Home Minister Datuk Seri Dr in the activity, including caretakers of the
Ismail Mohamed Said said the ministry premises and organisers of gambling activ-
is involved in the study being conducted ities without a licence under the provisions
by the Ministry of Finance for improve- Bernama of existing gambling-related laws, such as
ments so as to be in line with current the Common Gaming Houses Act 1957
developments. “Another step taken is conducting and the Betting Act 1953.
He said it is among the steps taken and continuous operations and raids through He added that a total of 2,294 charg-
planned by the government, especially the the Op Dadu operation, including inte- es involving online gambling were re-
Royal Malaysia Police (PDRM), to detect grated operations in collaboration with corded nationwide in 2019, followed by
and combat gambling activities carried out other agencies, such as the Malaysian 2,911 charges in 2020 and 2,165 so far
either by individuals or syndicates. Anti-Corruption Commission and local this year.
KUALA LUMPUR (Nov 8): Genting Ma- ation per annum (assuming 10% depre-
laysia Bhd (GENM)’s outdoor theme park Genting Malaysia’s ciation rate),” he said.
Genting Skyworlds Theme Park is one step Yet, he expects Genting SkyWorlds to
closer to opening its doors to the public as Genting Skyworlds drive Resorts World Genting (RWG) vis-
it starts conducting technical rehearsals. itor arrivals growth.
“We are conducting technical rehears- Theme Park “GENM itself expects Genting SkyWorlds
als for employees and selected guests,” a to drive RWG visitor arrivals to 30 million in
GENM spokesperson noted on Monday starts technical the long term while we are a tad more con-
morning in response to The Edge’s email servative at 26 million to 27 million per an-
query on the matter. rehearsals; num (pre-Covid-19 high: 24 million),” he said.
This means selected rides in the out- Assuming RM150 average mass mar-
door theme park have been opened to em- analysts expect it ket gaming revenue per patron and 40%
ployees and some guests. EBITDA margin, he said, the 2 million to
When asked when the theme park will to be opened by 3 million extra RWG visitors per annum
be opened to the public and how much the relative to the pre-Covid-19 high will ac-
tickets will be, the spokesperson said the next month crete RM120 million to RM180 million
information will be announced in due time. to EBITDA per annum.
Gaming analysts expect the park to be He also opined that this will have positive
opened to the public by next month “if all by tan siew mung implications for GENM’s share price in the
goes well” and the tickets “could be priced theedgemarkets.com lead-up to the opening of Genting SkyWorlds
in the range of between RM150 to RM300”. in late 2021 even though it is not a casino.
When contacted on Genting Skyworlds, margin, he assumed 30% or about 10 per- “We studied the share prices of Southeast
Maybank Investment Bank Research’s an- centage points higher than Universal Stu- Asian and Macanese casino companies before
alyst Yin Shao Yang said that on a finan- dio Singapore as Genting SkyWorlds will their new casinos opened. In an overwhelm-
cial year basis, he expects the theme park not pay 20th Century Fox gate royalties ing 10 of 12 instances, the share prices of the
to attract 3 million patrons with RM200 but a fixed annual license fee. aforesaid casino companies rallied before open-
average spend per patron. “These result in a decent RM180 mil- ing thanks to excitement over the earnings
On earnings before interest, taxes, de- lion EBITDA per annum but are not prospects of their new casinos,” he explained.
preciation, and amortization (EBITDA) enough to offset RM330 million depreci- co n ti n ues o n Pag e 10
h o m e
Pecca cancels
KUALA LUMPUR (Nov 8): Pecca Group This is because a business diversification
Bhd, which is mainly involved in vehicle plan remains a positive move for Pecca, in
RM100 mil stake

leather upholstery manufacturing and order for the group to avoid being solely
design, has cancelled its proposed acqui- reliant on a single segment, said its group
buy in PPE
sition of 51% equity interest in person- managing director Datuk Teoh Hwa Cheng.
al protective equipment (PPE) supplier “It is our outmost priority to seek for
supplier Rentas
Rentas Health Sdn Bhd to seek different income sources apart from automotive seg-
methods of collaboration by entering into ment, and we shall seek for more mutually
Health as it
a mutual rescission and release agreement beneficial ways to work with our partners
with the latter. in this business venture. As and when any
shelves healthcare
As such, the sales and purchase agree- new opportunities arise, the board will also
ment dated Aug 2, 2021, for the acquisi- seek [the] necessary approval from share-
diversification
tion worth RM100 million will be termi- holders if the nature of the transaction re-
nated with immediate effect, Pecca said quires it,” he said.
in a statement. “As of June 30, 2021, Pecca holds a cash
It also said its proposed diversification and cash equivalent of RM78.13 million
into healthcare will not be pursued at this by syafiqah salim and zero borrowings. The group plans to
juncture, considering its existing health- theedgemarkets.com utilise the cash through value-accretive ef-
care-related business is not expected to forts and seek suitable merger and acqui-
divert 25% or more of the net assets or sition or joint-venture opportunities that
net profit of the group in the near future. can enhance the earnings visibility of the
“However, Pecca will continue to mon- group, going forward,” Teoh added.
itor the contribution of its healthcare re- Pecca closed its financial year ended June
lated business, which currently is mainly 30, 2021 (FY21) with a more than two-
the manufacturing of medical-grade face fold jump in net profit to RM19.23 million
masks, and make necessary announce- from RM8.39 million, as revenue grew to
ments to Bursa Malaysia Securities Berhad RM144.75 million from RM104.64 million
as and when new businesses or contracts on improved contributions from its automo-
have been identified,” Pecca said. tive segment, with higher original equipment
It also assured that its intention to diver- manufacturer (OEM) car seat cover sales.
sify “remains intact and on track” despite Pecca shares rose five sen or 1.55% to
its revision of its healthcare diversification settle at RM3.28 on Monday, giving the
strategy, as it plans to use its strong cash group a market capitalisation of RM616.64
position to seek suitable merger and ac- million. Its share price has doubled from
quisition or joint-venture opportunities. when it was trading at RM1.64 on Jan 4.
from Page 8 lishment of a travel bubble, which is expect- movement control order in the country. Up
He maintained a “buy” call on GENM ed to be in December,” he told The Edge. until February this year, the group had in-
at a target price of RM3.40. While GENM’s FY22 earnings recovery vested over US$800 million into the project.
Meanwhile, TA Securities Research an- remains intact, he believes its peers list- Earlier in August, GENM said in a Face-
alyst Tan Kam Meng said he expects Gen- ed on Hong Kong’s stock exchange offer book post that Genting SkyWorlds is in its fi-
ting SkyWorlds to be loss-making during much decent valuation now. nal stage of development before its opening.
the gestation period but will contribute “As such, we have a “sell” recommen- The group also said in a statement in
positively to GENM’s gaming business. dation on GENM (target price: RM3.19) June, the timely completion of Genting
He expects Genting SkyWorlds to be as we expect foreign funds to return to SkyWorlds continues to be a key focus.
opened to the public as early as this month Macau casino operators when the risk of “While the group continues to work
and believes the opening has already been renewing casino licence subsides,” he said. towards the completion of Genting Sky-
priced in the GENM share price. GENM initially planned to launch Gen- Worlds outdoor theme park in the third
“Next catalyst would likely be the reo- ting SkyWorlds in the middle of this year, quarter of 2021, the opening date of the
pening of the international border or estab- however, the progress was dragged by the park is dependent on developments sur-
rounding the Covid-19 situation and its
impact [on] the leisure and hospitality sec-
tor in the country,” it said.
At the time of writing, GENM gained
two sen or 0.64% to RM3.15. It earlier
rose to an intra-day high of RM3.18.
Year to date, the counter has climbed
17.98%.
Read also: Genting Malaysia’s Resorts

World New York City in good position to
win casino licence — Maybank IB Research
Click here
H O M E
MGRC highlights
KUALA LUMPUR (Nov 8): Genomics Malaysian Genomics
and biopharmaceutical company Malaysian
Resource Centre Bhd
appointment of
Genomics Resource Centre Bhd (MGRC)
highlighted the appointment of two new inde- Vol (mil) RM
two new directors,

pendent and non-executive directors effective 25 3.0
Monday (Nov 8), as well as the acquisition
share purchase
of additional shares by its major shareholder 2.5
20
Pixelvest Sdn Bhd, in response to Bursa’s un-
by major
usual market activity (UMA) query.
15 2.0
MGRC’s share price plunged by as
stakeholder in
much as 56 sen or 28% to RM1.44, before RM1.64
10 1.5
paring some losses to close at RM1.64,
UMA query reply

still down 36 sen or 18% at Monday’s
closing bell. The counter saw some 18.3 5 1.0
million shares done. RM0.62
At RM1.64, MGRC has a market cap- 0 0.5
italisation of RM203.71 million. BY SYAFIQAH SALIM Nov 9, 2020 Nov 8, 2021
The stock, however, has jumped by theedgemarkets.com
Source: Bloomberg
55% from when it was trading at RM1.06
on Jan 4. Department,” said the group in a bourse
In response to the UMA over the sharp filing on Monday. “In [the] year 2020, Khoo joined MBSB
fall in its share price, MGRC said it has In addition, MGRC said Wong has also Bank to start-up its Digital Cash Manage-
appointed Wong Yew Sen as the group’s served for two years as Advisor of the Su- ment business. He has been a key con-
independent director, as well as the chair- pervision Department in the Cooperative tributor within the agile strategy team im-
man of the audit committee. Commission of Malaysia. plementing financial products and digital
“Wong has served 32 years (between The company also appointed Khoo Boo solutions in MBSB Bank,” the group noted.
1971 and 2003) since he joined Bank Ne- Bon as its independent director. Khoo On another note, MGRC’s substantial
gara Malaysia in the capacities of Sen- served as Chief Technology Officer for shareholder Pixelvest has bought 250,000
ior Executive, Manager and Director of Crowd Sense, with the overall manage- shares in the group on the open market
Banking Supervision Department, In- ment of systems infrastructure and launch- on Nov 5.
ternal Audit and Insurance Supervision ing the peer-to-peer (P2P) platform. CO N TI N U ES O N PAG E 12
h o m e
United
KUALA LUMPUR (Nov 8): United f ro m Pag e 1 1
Plantations Bhd saw its net profit for This raised its direct stake in the group
Plantations 3Q
the third quarter ended Sept 30, 2021 to 5.579% or 6.93 million. The EdgeWeekly
(3QFY21) climb 61.71% to RM154.15 reported in early September, citing Com-
profit jumps 62%;

million from RM95.32 million in the pre- panies Commission of Malaysia (SSM)
vious year, on higher contribution from filings, that Pixelvest is wholly owned by
declares 30 sen
the plantation segment. Ang Jen Chuen.
Consequently, earnings per share rose to MGRC said it was otherwise not
dividend
37.16 sen from 22.98 sen previously. aware of any corporate development,
In a bourse filing Monday (Nov 8), the rumour or reports that may account for
group noted its quarterly revenue jumped the trading activity.
57.32% to RM525.5 million against On Nov 3, the company announced
RM334.04 million on higher revenue from by Syafiqah Salim that its largest shareholder I Concept
the plantation and refinery segments. theedgemarkets.com Global Growth Fund had ceased to be
The group also declared an interim its substantial shareholder following the
single-tier dividend of 30 sen per share “UP will, in accordance with its re- disposal of 4.69 million shares in the com-
for the year ending Dec 31, 2021 to be planting policy, continue to replant areas pany between Nov 1 and Nov 2 via the
paid on Dec 3. of its older and less productive oil palm open market. It previously held, as at July
For the nine months ended Sept 30, stands in Malaysia during the final quar- 5, 10.3 million shares, representing an
2021 (9MFY21), United Plantation’s net ter of 2021,” it said. 8.69% interest in the company.
profit rose 21.54% to RM364.76 million Furthermore, it noted that cost efficien- And in a filing dated Nov 1, the compa-
from RM300.1 million, while revenue hiked cies and improved productivities including ny, which remains an affected listed corpo-
48.54% to RM1.41 billion, compared with optimising all possible steps of mechanisation ration under Rule 8.03A of the ACE Market
RM947.26 million a year ago. will continue as a vital part of sustaining its Listing Requirements following its disposal
On a quarterly basis, its net profit ex- positive development going forward. of MPath Group in December 2019 for
panded by 13.52% from RM135.78 mil- “With the significant uncertainties related RM42 million, updated that it had until
lion, and revenue increased by 9.05% from to the consequences of the Covid-19 pan- Dec 23 to submit a plan to Bursa Securi-
RM481.87 million. demic, it is difficult to predict the results ties to regularise its condition.
The group said its board still views the for 2021. However, based on the increased MGRC fell into the red in its financial
Covid-19 pandemic, as well as the acute la- palm oil prices and the company’s ability to year ended June 30, 2021 (FY21) with a net
bour shortages, as the two largest risks in the avoid any significant crop losses in spite of loss of RM4.29 million, from a net profit
foreseeable future. the acute labour shortages experienced dur- of RM17.1 million a year ago, mainly be-
“However, with UP´s [United Planta- ing the year, the board of directors expect cause the previous financial year record-
tion’s] positive liquidity and conservative that the results for the year will be satisfactory ed a profit, net of tax, from discontinued
capital resources, the board believes that and better than in 2020,” it added. operations of RM23.34 million. Revenue
the company based on the present funda- Shares of United Plantations settled two meanwhile came in at RM1.78 million, up
mentals will be able to perform satisfactorily sen or 0.14% lower at RM14.04 on Mon- from RM951,000 previously, mainly on the
without the need for any asset impairments day’s market close, giving the group a market derecognition of the progress of genome
arising from the current Covid-19 pandemic. value of RM5.84 billion. sequencing and analysis services.
bloomberg
Parkson proposes
RM2b share
capital reduction
to reduce losses
by Seah Eu Hen
theedgemarkets.com
KUALA LUMPUR (Nov 8): Parkson After the exercise is completed, its The reduction of accumulated losses from
Holdings Bhd has proposed to cancel RM2 issued share capital will be reduced to the exercise is expected to enhance the cred-
billion of its issued share capital in a move RM2.15 billion from RM4.15 billion. ibility of the company with the bankers, cus-
to reduce the group’s accumulated losses. Parkson said that the exercise will allow tomers, suppliers, investors and other stake-
According to a bourse filing on Mon- the company and group to rationalise their holders according to the retail group.
day, the group is in the red as accumulated financial positions by reducing their accu- The proposal, subject to shareholders’
losses amounted to RM932.47 million as mulated losses through the reduction of its approval, is expected to be completed in
at June 30, 2021. share capital which is lost or unrepresented the first quarter of 2022.
The group expects to return to the black by available assets of the group while reflect- Parkson’s share price was flat at 22
with retained earnings of RM1.05 billion ing a more accurate picture of the value of sen on Monday, valuing the group at
after the capital reduction exercise. its underlying assets and financial position. RM240.66 million.
h o m e
Ecomate jumps
KUALA LUMPUR (Nov 8): Muar-based its inception, with revenue and profit
furniture specialist Ecomate Holdings after tax and non-controlling interest
as much as
Bhd made a strong debut on the ACE (PATANCI) growing at astounding com-
Market on Monday (Nov 8) and reached pound annual growth rates of 52.8%
113.6% on ACE
a high of 70.5 sen, notching a premium and 59.7% respectively from the finan-
of 37.5 sen or an increase of 113.64% cial year ended Feb 28, 2019 (FY19)
Market debut
over its initial public offering (IPO) price to FY21.
of 33 sen. “The revenue and PATANCI stood at
At the opening bell, the stock opened RM56.3 million and RM8.5 million re-
35 sen or 106.06% higher at 68 sen, giv- spectively for FY21,” according to Eco-
ing it a market capitalisation of RM176.75 by sulhi khalid mate managing director Jason Koh Jian
million. theedgemarkets.com Hui in a statement on Oct 15.
The stock then pared its gains to close Established in 2016, Ecomate is an ex-
15.5 sen or 46.97% higher at 48.5 sen, port-oriented furniture producer based in
with 145.44 million shares changing hands, Ecomate Holdings Bhd Muar, Johor, focusing on the production of
making it the top actively traded stock on ready-to-assemble (RTA) furniture prod-
Vol (mil) Sen
the local bourse. ucts where it undertakes its own design,
2.5 70
Ecomate aimed to raise RM16.2 mil- 69 sen development production as well as mar-
lion from its IPO exercise and intended keting and sales activities.
to allocate the proceeds to acquire ma- 2 In a separate statement on Monday,
60
chinery and equipment (RM6 million), Koh said he believes a robust business
1.5
for the construction of its third facto- model and expansion pipeline put Eco-
50
ry to house three additional produc- mate in a strong position to capture more
1
tion lines and one block of a four-sto- 48.5 sen growth opportunities entailed in the furni-
rey detached hostel (RM2 million) as 0.5
40 ture industry, especially the RTA segment,
well as purchase raw materials (RM5.3 IPO price: 33 sen
and that the group is upbeat on the pros-
million). It earmarked the remaining 0 30
pects of the industry.
RM2.9 million to defray estimated list- 9am 4.55pm He said the timely proceeds raised
ing expenses. Nov 8, 2021 from the IPO would allow the company
“Ecomate has recorded tremendous Source: Bloomberg to implement its growth strategies ex-
growth in its financial performance since pediently.
BSL Corp says

KUALA LUMPUR (Nov 8): BSL Corp This is the third UMA query issued to
Bhd, whose share price hit limit up on the group this year. It received a similar que-
unaware of
Monday (Nov 8), told Bursa Malaysia that ry on Jan 7 and Sept 13, following a steep
it is not aware of any corporate develop- rise in its share price and trading volume.
reason behind
ment that would have caused the unusual On Sept 13, it said it was in the midst
market activity (UMA). of negotiation to buy into Singapore-based
UMA
The stock opened at RM2.02 on Mon- SD Unify Pte Ltd, in response to the que-
day’s morning trade, before rising 19.8% ry. SD Unify is involved in the manufac-
or four sen to RM2.42 at the noon break. turing and repair of semiconductor found-
The stock settled at a record high of ry equipment.
RM2.43 — up 56 sen or 29.95% — on by syafiqah salim Meanwhile, in January, BSL Corp said
Monday’s closing bell. It saw some 8.19 theedgemarkets.com a third party had approached its major
million shares transacted, exceeding its shareholder with an unsolicited interest to
200-day average volume of 2.91 million acquire its shareholding in the company.
by more than two times. According to Bloomberg data, Sanichi
BSL Corp Bhd
At RM2.43, BSL Corp has a market cap- Technology Bhd managing director Da-
italisation of RM238.14 million.The counter Vol (mil) RM tuk Seri Pang Chow Huat and PNE PCB
has been on an upward trend since the start 80 2.5 Bhd executive director Ho Jien Shiung are
RM2.43
of the year, surging by 1,179% from 19 sen. among the two largest shareholders of BSL
The metal parts manufacturer said in a 2.0 Corp. Pang holds a 34.87% stake, while
bourse filing that it is not aware of any cor- 60 Ho holds an 18.15% stake in the group.
porate development that has not been pre- 1.5 To recap, BSL Corp received a man-
viously announced, any rumour or report 40
datory takeover offer from the duo, to buy
concerning the group’s business and affairs 1.0
all the remaining shares in the company
as well as any possible explanation that may at RM1.15 each in June.
account for the group’s trading activity. 20 For the full financial year ended Aug
0.5
“The company is in compliance with, RM0.14 31, 2021 (FY21), the group’s net profit
and will make the necessary announcement climbed by 25 times to RM9.3 million
to Bursa Securities of any material infor- 0 0 against RM370,000 a year earlier, as full-
Nov 10, 2020 Nov 8, 2021
mation in compliance with Paragraph 9.03 year revenue rose 16.3% to RM159.49 mil-
of Bursa Securities Main Market Listing Source: Bloomberg lion from RM137.14 million due to higher
Requirements,” it said. sales volume.
H O M E
Scientex fails
KUALA LUMPUR (Nov 8): Stretch of RM2.70 per share and 32 sen per war-
film producer Scientex Bhd has com- rant for the remaining 38.12% equity or
in attempt
pleted its unconditional voluntary take- 124.78 million shares of Daibochi, which
over offer of Daibochi Bhd but failed to amounts to RM345.3 million. When the
to privatise
accumulate the 90% stake required for it offer was made on Sept 13, Scientex held
to proceed to privatise the latter, despite 61.88% of Daibochi's shares and 4.25%
Daibochi despite
having extended the offer by wo weeks. of its outstanding warrants.
UOB Kay Hian, on behalf of Scien- The offer, initially scheduled to close
offer extension
tex, announced on conclusion of the on Oct 25, was later extended to Nov 8.
offer on Monday that Scientex had ac- Scientex shares gained 2 sen or 0.44%
quired 235.37 million shares represent- to close at RM4.60 on Monday, giving the
ing a 71.90% equity interest in Daibochi, group a market capitalisation of RM7.13
and 16.65 million warrants representing BY SEAH EU HEN billion, while Daibochi shares declined 9
60.98% of Daibochi's issued warrants. theedgemarkets.com sen or 3.33% to close at RM2.61, with a
To recap, Scientex made a cash offer market capitalisation of RM855.88 million.
NEWS IN BRIEF
MYEG gets green light from JPJ to set up automated training and driving test system
KUALA LUMPUR (Nov 8): E-government service provider MY EG Services Bhd (MYEG) said
it has received approval from the Road Transport Department (JPJ) to commence the proof of
concept (POC) to set up an automated training and driving test system. The group noted that
the POC is designed to assess the competencies of candidates going through the driver training
curriculum. The POC has no contract value and will run from Dec 1, 2021 to February 2022,
according to MYEG’s filing with Bursa Malaysia on Monday. “The POC will allow JPJ to evaluate
the specifications and suitability of the e-Testing system for commercialisation. “Should there be
Malaysia Airports to establish sukuk any further development on this matter, the company will release the necessary announcement
wakalah programme of up to RM5b in a timely manner to Bursa Malaysia Securities Bhd,” it added. — by Syafiqah Salim
KUALA LUMPUR (Nov 8): Malaysia
Airports Holdings Bhd (MAHB) has made a
lodgement with the Securities Commission BNM international reserves rise to
Malaysia (SC) to set up a sukuk wakalah US$116.1b as at Oct 29
programme of up to RM5 billion, based KUALA LUMPUR (Nov 8): Bank Negara
on the Shariah principle of Wakalah Bi Malaysia’s (BNM) international reserves rose
Al-Istithmar. In a filing, MAHB said the to US$116.1 billion as at Oct 29, up 0.43%
programme has a perpetual tenure that from US$115.6 billion reported previously on
affords it the flexibility to issue senior sukuk Oct 15. In a statement, the central bank said
wakalah and/or perpetual sukuk wakalah the reserves position is sufficient to finance
from time to time, subject to the aggregate 8.1 months of retained imports and is 1.3 JF Tech seeks transfer to Main Market
outstanding nominal value of the sukuk not times total short-term external debt. Of the KUALA LUMPUR (Nov 8): JF Technology
exceeding RM5 billion at any point in time. five components of the international reserves, Bhd (JF Tech), which manufactures high-
The airport operator said the programme foreign currency reserves stood at US$103.3 performance test contacting solutions
has been assigned an initial rating of AAA billion, up slightly from US$101.9 billion for global integrated circuit makers, has
and AA2 for the senior sukuk wakalah and previously, while its International Monetary proposed to transfer its listing status from
the perpetual sukuk wakalah respectively, Fund (IMF) reserves position remained the the ACE Market to the Main Market of Bursa
with a stable outlook by RAM Rating same at US$1.4 billion. Also maintained were Malaysia. In a statement, it said the exercise, if
Services Bhd. It plans to use proceeds raised Special Drawing Rights (SDRs) at US$6.1 approved by the regulators, is expected to be
from the issuance of the sukuk for working billion and gold at US$2.2 billion, while other completed in the first quarter of 2022. JF Tech
capital, refinancing or repayment of existing reserve assets fell to US$3.1 billion from US$4 said it registered an aggregate profit after
borrowings, and to defray expenses related billion. The bank’s assets totalled RM541.76 tax attributable to owners of the company
to the sukuk programme. — by Seah Eu Hen billion as at Oct 29. — by Sulhi Khalid (PATAMI) of RM26.2 million for the past three
financial years from the financial year ended
ViTrox proposes 1-for-1 bonus issue, staff share grant scheme June 30, 2019 (FY19) to FY21, with a PATAMI
KUALA LUMPUR (Nov 8): Automated test equipment (ATE) maker ViTrox Corp Bhd of RM15.2 million for its latest financial year
has proposed to undertake a bonus issue of up to 472.43 million new shares on the of FY21. As such, it said it has exceeded the
basis of one bonus share for every one existing share on an entitlement date to be profit requirements of the proposed transfer,
determined. ViTrox is also proposing to establish an employees’ share grant scheme of up to which requires the group to have an aggregate
5% of the total issued shares, for eligible executive directors and employees of the company. after-tax profit of at least RM20 million for the
The proposed bonus issue and proposed share grant scheme are expected to be completed past three full financial years, and an after-tax
in the first quarter of 2022 and the first half of 2022, respectively. — by Seah Eu Hen profit of at least RM6 million for the most
recent financial year. — by Seah Eu Hen
h o m e
The Edge Billion Ringgit Club gala dinner

returns to salute corporate excellence
by Cindy Yeap
The Edge Malaysia
T
he Edge Media Group and its
partners are celebrating Cor-
porate Malaysia’s best-per-
forming listed companies and
top responsible organisations at The Edge
Billion Ringgit Club (BRC) awards cer-
emony for the 12th year. The BRC gala
dinner, which was postponed last year as
Malaysia battled the Covid-19 pandemic,
will be held with the necessary health-re-
lated protocols in place.
“History has shown time and again
that tough times never last; tough peo-
ple and businesses do. We look forward
to gathering together again in person this
year, with the necessary SOPs, to cele-
brate excellence and sustainable practices officially as supporting sponsor this year. bility. “The Edge Billion Ringgit Club
as Corporate Malaysia demonstrates its “I thank OCBC and Mercedes-Benz winners for this year have yet again done
resilience in the new normal post-Cov- for their steadfast support of the BRC well by doing good. This is the sum to-
id-19,” says Datuk Ho Kay Tat, The Edge and welcome Cartier by Cortina. This tal of what is being recognised. The call
Media Group publisher and CEO. prestigious gathering would not continue to the winners is now to do more of the
The main sponsor, OCBC Bank Ma- being Corporate Malaysia’s most antic- same, that is, to do even better beyond
laysia, has been a key partner since the ipated corporate awards ceremony and the pandemic period. If we look back at
awards’ inauguration in 2010. Also re- gala dinner without these distinguished almost two pandemic-stricken years, it is
turning as a sponsor for the seventh year partners,” Ho adds. evident that it is those who have main-
is Mercedes-Benz Malaysia, which pro- Datuk Ong Eng Bin, CEO of OCBC tained a keen eye on sustainable practices
vides the award’s official car. Cartier by Bank Malaysia Bhd, turns the spotlight that have survived the onslaught of Cov-
Cortina Watch Malaysia, which support- on Corporate Malaysia’s crème de la id-19. This has been the telling difference.
ed the awards last year, comes on board crème and puts emphasis on sustaina- “Corporate Malaysia must now move
forward with a greater sense of optimism
Patrick Goh/
The Edge without ever losing sight of the environ-
ment, society and good governance. The
Edge Billion Ringgit Club awards must,
moving forward, be far more about the
sum total of sustainable efforts rather
than mere profitability,” he says.
Having won numerous awards for
being an excellent institution, corpo-
rate citizen and employer as it pushes
the boundaries of technology and inno-
vation, banking giant OCBC exemplifies
its belief in sustainability, inclusivity and
wellbeing, and hopes to inspire contin-
ued excellence.
“I would say Corporate Malaysia re-
sponded well with the new normal and
this was largely due to their ability to
move quickly to transform digitally and
enable their operations to remain resil-
ient while keeping their staff safe and
working remotely. Coming out from the
Ong: Corporate Malaysia must now move Ho: We look forward to gathering together again pandemic, they look to be most ready to
forward with a greater sense of optimism without in person this year, with the necessary SOPs, to help the country recover strongly, led by,
ever losing sight of the environment, society and celebrate excellence and sustainable practices as not surprisingly, the banking industry,”
good governance. Corporate Malaysia demonstrates its resilience in
the new normal post-Covid-19. Ong observes.
co n ti n ues on Pag e 17
h o m e
Soophye
from Pag e 16
Michael Jopp, vice-president of sales &
marketing (passenger cars) at Mercedes-
Benz Malaysia, congratulates Corporate
Malaysia for staying resilient. “This pres-
tigious award recognises Malaysian cor-
porate excellence with the highest stand-
ard, which falls in line with our pursuit of
a high-performance culture. As we gather
with other industry leaders, we applaud
the hard work and dedication put in by
these organisations who strive for con-
tinued success and excellence in their
respective business fields. At Mercedes-
Benz, the spirit of competition defines
us and we are honoured to be part of
this highly anticipated annual awards,”
he says.
Tay Liam Khoon, managing director
of Cortina Watch Malaysia, also applauds Jopp: As we enter an endemic phase, we applaud Tay: I wish everyone good fortune for the
Corporate Malaysia’s best in class. “A big the hard work and dedication by the many upcoming new year and years to come. May we
congratulations to all the winners. They organisations here who strive for continued success continue to pave the way towards achieving
and to excel in their respective business fields. sustainable growth and excellence.
did a good job earning these prestigious
awards, especially in the past year amid
the pandemic where all of us faced nu- Indeed, Mercedes-Benz — which aims Awards to be given out include Value
merous challenges, including those un- to go all electric by the end of the decade, Creator: Malaysia’s Outstanding CEO;
foreseen. Nevertheless, they’ve prevailed where market conditions allow — is al- The Edge BRC Most Profitable Compa-
and I wish everyone good fortune for the ready making use of extensive reskilling ny; The Edge BRC Highest Profit Growth
upcoming new year and years to come. schemes to prepare its global workforce Company; The Edge BRC Best Perform-
May we continue to pave the way towards and production network for a sustaina- ing Stock; The Edge BRC Best CR Ini-
achieving sustainable growth and excel- ble future as it transitions from internal tiatives; and the coveted The Edge BRC
lence,” he says. combustion engines to electric vehicles. Company of the Year.
Due to capacity restrictions, only com- While the pandemic has had a pro- Previous Company of theYear winners are
panies that are receiving awards (and not found impact globally, Anne Yitzhakov, Hartalega Holdings Bhd, Press Metal Alu-
all BRC members) are invited to the gala managing director of Cartier Singapore minium Holdings Bhd, Petronas Dagangan
dinner this year. & Malaysia, says it “has also given us Bhd, AirAsia Bhd, Nestlé (M) Bhd,Tenaga
Like The Edge Media Group’s Ho, an opportunity to reflect and rethink Nasional Bhd, Dutch Lady Milk Industries
OCBC Bank’s Ong looks forward to our corporate initiatives towards a more Bhd, DiGi.Com Bhd, Genting Bhd, QL Re-
meeting face to face again. “The abil- sustainable future”. This, she says, is resources Bhd and Supermax Corp Bhd.
ity to meet physically is something we flected in the ambitious impact-focused Past winners of the Value Creator:
used to take for granted in the past but goals and low-carbon mission under the Malaysia’s Outstanding CEO award are
this is certainly one of the best events to Watch & Jewellery Initiative 2030 that Public Bank Group chairman Tan Sri
look forward to as we end 2021. It is a Cartier — delegated by Richemont and Teh Hong Piow, CIMB group chair-
good signal to be optimistic about the Kering Group, in partnership with The man Datuk Seri Nazir Razak, AMMB
future and is a testimony of The Edge Responsible Jewellery Council — has set Holdings Bhd chairman Tan Sri Azman
and OCBC Bank’s solid partnership in out to achieve. Hashim, AirAsia group CEO Tan Sri Tony
recognising the best of Corporate Ma- The Edge BRC recognises excellence Fernandes, former S P Setia Bhd pres-
laysia as they evolve over the past many in companies with a market capitalisation ident and CEO Tan Sri Liew Kee Sin,
years!” Ong concludes. of above RM1 billion. The billion-ringgit former Malayan Banking Bhd president
Mercedes’ Jopp is similarly elated, cut-off serves as an aspirational target for and CEO Tan Sri Abdul Wahid Omar,
describing the event as one which “sig- dynamic smaller companies. Companies Axiata Group Bhd president and group
nifies our spirit of adapting and moving are added to the annual list automatically CEO Tan Sri Jamaludin Ibrahim, Sunway
forward”. “We are excited to co-spon- at the cut-off date of March 31 and are Group chairman Tan Sri Jeffrey Cheah,
sor this prestigious gala dinner which evaluated on growth in profit, returns to Khazanah Nasional Bhd managing direc-
we have been a part of for seven years shareholders and corporate responsibil- tor Tan Sri Azman Mokhtar, Westports
now [in 2010 and 2016 to date]. As we ity (CR) commitments, among others. Holdings Bhd executive chairman Tan
enter an endemic phase, we applaud the Apart from their respective Bursa Sri G Gnanalingam, Dialog Group Bhd
hard work and dedication by the many Malaysia-defined industry peers, BRC executive chairman and co-founder Tan
organisations here who strive for con- members are also ranked against com- Sri Ngau Boon Keat and QL Resourc-
tinued success and excelling in their re- panies with similar market capitalisation es Bhd executive chairman Tan Sri Chia
spective business fields,” says Jopp, add- through the creation of the Super Big Song Kun.
ing that Mercedes-Benz remain focused Cap (companies with more than RM40
on taking a holistic approach towards billion in market capitalisation) and Big
achieving automotive excellence with Cap (companies with RM10 billion to This article first appeared in The Edge Ma-
a customer-centric strategy to create a RM40 billion in market capitalisation) laysia Weekly, on November 8, 2021 — No-
sustainable future. categories. vember 14, 2021.
h o m e
Melaka polls:
MELAKA (Nov 8): A total of 112 candi- managed to submit their nomination pa-
dates are qualified to contest in the Melaka pers on time.
112 candidates
state election, which will also see six-cor- On the composition of candidates, he
nered fights in three seats, namely Asahan, said 96 men and 16 women are contesting
contesting,
Duyong and Gadek. in the state election.
The matter was announced by Election He said of the total, nine candidates are in
six-cornered
Commission (EC) chairman Datuk Ab- their 20s, 21 in their 30s, 35 in their 40s, 36 in
dul Ghani Salleh at a press conference at their 50s and 11 candidates aged 60 or above.
fights in three
Menara Persekutuan here after the conclu- “The oldest candidate is 68 years old,
sion of the nomination process on Mon- while the youngest is 21,” he said.
seats
day (Nov 8). Abdul Ghani added that the campaign
He said there will be five-cornered fights period for the state election will end at
in five seats, namely in Rembia, Machap 11.59pm on Nov 19.
Jaya, Paya Rumput, Pengkalan Batu and Polling falls on Nov 20.
Bemban. Bernama
Nine seats will witness four-cornered
fights, while 11 other seats will have Read also:
three-cornered fights.
The seats that will see four-cornered Clash of heavyweights in Tanjung
fights are Kuala Linggi, Durian Tunggal, Bidara Click here
Sungai Udang, Bukit Katil, Ayer Molek,
Bandar Hilir,Telok Mas, Serkam and Sun-
gai Rambai. Former chief minister Idris’ return
Tanjung Bidara, Ayer Limau, Lendu, to Asahan met by six-cornered fight
Taboh Naning, Pantai Kundor, Kelebang, Click here
Ayer Keroh, Kesidang, Kota Laksamana,
Rim and Merlimau, on the other hand, one from Parti Perikatan India Muslim
are the seats which will witness three-cor- Nasional (IMAN) and 22 independent Melaka polls: All official govt and
nered fights among the contesting can- candidates. private functions not allowed from
didates. The nomination process, which began Nov 4 Click here
Abdul Ghani said the state election at 9am, ran smoothly without any pro-
had drawn a total of 112 candidates, com- cession of supporters accompanying their
prising 28 each from Barisan Nasion- candidates to the centres in accordance Court to decide on Nov 10 whether to
al (BN), Perikatan Nasional (PN) and with the standard operating procedures grant ex-CM Adly leave to challenge
Pakatan Harapan (PH), five from Parti set by the EC. Melaka state legislative assembly
Bumiputera Perkasa Malaysia (PUTRA), Abdul Ghani said all candidates also dissolution Click here
Sarawak polls:
Discussions
on PH-Parti
Sarawak Bersatu
cooperation
on hold
Bernama
MIRI (Nov 8): Discussions on cooperation “So far, we have not reached a consen- described PSB as a “suspicious” party due
between Pakatan Harapan (PH) and Parti sus [with PSB]. However, we do not know to “similarities” with Gabungan Parti Sar-
Sarawak Bersatu (PSB) to face the 12th what will happen in the future as we still awak (GPS).
Sarawak state election have been put on have two months before the state election In the meantime, Abang Zulkifli con-
hold following overlapping seat requests. [must be held],” he told Bernama when firmed that Sarawak PKR will field can-
As such, Sarawak PKR acting chairman contacted on Monday (Nov 8). didates in 49 out of the 82 seats in the
Abang Zulkifli Abang Engkeh said the PH Prior to this, PSB presidential council state election.
component parties, namely PKR, DAP and member Baru Bian reached out to DAP “[Negotiations on] seat allocations
Amanah, for now would not enter into an to cooperate in the coming state election. among PKR, DAP and Amanah are run-
agreement to cooperate with other oppo- This was after Sarawak DAP chairman ning smoothly. The remaining 33 seats will
sition parties in the state. Chong Chieng Jen was reported to have be filled by the two parties,” he said.
Official Solar Partner Supported By
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w o r l d
Bubble fears are rising as financial

conditions flash boom times
by Ce cile Gutscher & Libby Cherry
Bloomberg
LONDON (Nov 8): Bubble warnings are

ringing louder after a week of dovish central
bank bombshells stoked the easiest financial
conditions in nearly four decades.
BlackRock Inc’s Rick Rieder and Allianz
SE’s Mohamed El-Erian are among those
warning that systemic risks will only multi-
ply, unless monetary officials take more deci-
sive measures to pare extraordinary pandem-
ic stimulus. While policy makers are acutely
aware of the dangers in the easy-money era,
their accommodative stances are encouraging
ever-increasing flows to the riskiest markets.
The crypto industry just hit over US$3
trillion in value, the biggest junk bond ex-
change-traded fund is booming after getting
the most cash since March, and major stock fine. But the collateral damage it’s creating,
indexes are sitting near records. No wonder a Systemic risks will the unintended consequences that are result-
cross-asset gauge shows the easy US investing only multiply, unless ing, are spreading. This is a Fed that’s going
climate is one for the history books. monetary officials take to wait and I fear is going to fall behind and
The risk binge is intensifying worries over more decisive measures we risk a pretty big policy mistake.”
market froth and lax central bank watchdogs. to pare extraordinary Catherine Mann, one of the BOE poli-
The world’s biggest, the Federal Reserve (Fed), cymakers who voted to keep rates on hold,
signalled last week a delay in interest-rate in-
pandemic stimulus. sounded a cautious note in minutes of the
creases until the labour market was in better meeting. The ex-Citigroup Inc economist
shape after it announced a widely expected was seen urging an early end to asset pur-
reduction in asset purchases. With supply-side pressures threatening chases, saying it was fuelling an “elevated
“The risk is you’re creating overheating growth, central bankers risk either acting too level of risky asset prices”.
prices,” Rieder, BlackRock’s CIO of global fast and derailing recoveries or being too slow Investors may be doubling down on risk,
fixed income, told Bloomberg TV on Friday. and letting inflation get out of control. Offi- but at least they are building a protective
“The risk to the system is you get too much cials are therefore taking a measured approach, cushion.
liquidity in the system creating excess.” despite some investors pressing for a more According to the latest Bank of America
Last week the Bank of England (BOE) decisive end to pandemic stimulus. Corp monthly fund manager survey, cash al-
shocked markets with a decision not to raise “It’s not clear to me why we need to contin- locations rose to a net 27% overweight, the
rates. Meanwhile, European Central Bank ue to run monetary policy so hot,” El-Erian, a highest since July 2020, while institutional
president Christine Lagarde pushed back Bloomberg Opinion columnist, said on Bloomb- traders are hedging in the stock-derivatives
against wagers on a rate hike in 2022. erg TV on Friday. “The economy is doing just market. And with corporate earnings beating
expectations, there are good reasons for cred-
it and equity rallies in America and Europe.
At the same time while policymakers have
been slow to turn off the liquidity hose, they
are at least making a start, said Rieder.
“Could they do it a bit faster?Yeah I think
so,” he said. “But at least the door is open
and we’re moving in the right direction.”
Kristina Hooper is among those down-
playing a market rout scenario from any
moderation in growth and tighter mone-
tary policy, though she sees a cap in the rally
for risky stocks like cyclicals and small caps.
“We are in a transition to a more nor-
mal economy,” Hooper told Bloomberg Ra-
dio. “That, to me, is the theme for 2022.
And that suggests that we’re going to see
growth moderate, and defensive and large-
caps perform better.”
w o r l d
bloomberg
Crypto world
hits US$3 trillion
market cap as
Ether, Bitcoin gain
by Joanna Ossinger
Bloomberg
SINGAPORE (Nov 8):The cryptocurren-
Tencent gets
cy market is now worth more than US$3 has been watched more than 11 million times
trillion. on Tencent-backed Bilibili Inc. The stream-
respite from
As of 7.38am in London, the over- ing service said cumulative views of the fi-
all market cap of cryptocurrencies hit nals night grew 20% from the previous year
crackdown with
US$3.01 trillion, according to CoinGecko without disclosing the exact number.
pricing.The third- and fourth-biggest to- After the victory by the Edward Gaming
video-game hits
kens, Binance Coin and Solana, have add- team, Chinese supporters erupted in cheers
ed more than 20% in the past seven days; across bars and university campuses, with
all of the seven biggest coins are up over some even streaking. Videos of college stu-
the last week. dents waving flags and chanting to celebrate
Bitcoin rose as much as 5.5% on Mon- by Vlad Savov & Zheping Huang, the win spread rapidly online.
day to US$66,339, nearing its previous Colum Murphy & Jing Li China’s Communist PartyYouth League
record of about US$67,000. Ether ad- Bloomberg wasn’t impressed, saying that fans should re-
vanced as much as 3% to a new high of act in a more rational way and that indecent
US$4,768. TOKYO/HONG KONG (Nov 8): Tencent exposure would land them in a detention
Of course, crypto is notoriously vola- Holdings Ltd pulled off a pair of success- centre. “It is not worth it, nor is it right to
tile. The last time Bitcoin reached these es for its League of Legends franchise over violate laws and increase your own possibility
levels, it fell back several thousand dollars, the weekend, with a raucous e-sports tour- to get infected with the virus,” the Sichuan
and it has undergone multiple corrections nament that drew more viewers than ever Youth League said.
that take it down by half or more. Other before and the strong debut for a new video Chinese e-sports stocks surged after the
coins are even more volatile — the me- series on Netflix. event, with the tournament’s topic of the
mecoins bounce back and forth wildly at “Arcane,” an anime series based on the home team winning viewed more than 3
times — and scams and hacks occur with League fantasy universe, premiered to an billion times on the microblogging site Wei-
some frequency. overwhelmingly positive response, garnering bo Corp. Dalian Zeus Entertainment and
The crypto market has already roughly 130 million views in China within a few hours Hangzhou Electric Soul both rose by the
quadrupled from its 2020 year-end value, and becoming the most searched item on 10% daily limit.
as investors have gotten more comfortable Tencent’s streaming site. Globally, the show Long dominant as the go-to games pub-
with established tokens and networks like — co-created by the Tencent-owned game lisher and platform within China,Tencent has
Ethereum and Solana continue to upgrade maker Riot Games Inc — is streamed on invested heavily in expanding that lead into
and attract new functionality. Excitement Netflix Inc’s service, as well as Amazon.com a wider entertainment ecosystem.The com-
about the possibilities of decentralised fi- Inc’s Twitch. pany is funding talent agencies, streaming
nance and non-fungible tokens is growing, A hit video-game show and the success sites — including its own version of Twitch
and memecoins like Dogecoin and Shiba of the e-sports tournament are a boost for for global markets, called Trovo Live — and
Inu continue to attract attention. Tencent, which is among companies trying tournament organisers to create the infra-
Bitcoin’s current rally has been fuelled to cope with Beijing’s crackdown on the in- structure necessary to turn pro gaming from a
by the US trading debut of a Bitcoin-linked dustry. In August, Chinese authorities said niche into an instrumental part of its growth.
ETF as well as Elon Musk’s weekend children could play video games just three Key to the strategy is the mutually rein-
Twitter poll, said Ben Caselin, head of hours a week in most cases, hurting the stocks forcing effects of shows like Arcane benefiting
research and strategy at crypto exchange of Tencent and other companies. from a huge built-in audience to gain notice
AAX. “With Shiba and other memecoins Riot’s promotional push around “Arcane” and then using that notoriety to introduce
having surged recently, and Facebook’s included a live premiere event in Los Ange- more people to the game. League of Legends
rebranding to Meta, interest in altcoins les and advertisements posted at bus stops has more than 100 million players globally.
continues to rise.” around the city. Epic Games Inc, also partly Riot Games is also making clips from Arcane
bloomberg owned by Tencent, even debuted a League available for people to remix and create fresh
hero in its hit Fortnite game. online content with, effectively harnessing
Earlier in the weekend, the League of the game’s fan base to extend the promo-
Legends World Championship hit a record tional reach.
of more than 4 million concurrent viewers
tuning in, according to Esports Charts.That
was without including audiences in China, Read also: Poor report cards likely at Chi-
which provided the winning team for this na’s Big Tech after regulatory crackdown
year’s event and where a replay of the match Click here
w o r l d
Blizzard-
TOKYO (Nov 8): SoftBank Group Corp Ola and logistics firm Delhivery target-
slumped to a quarterly loss on Monday, as ing listings.
hit SoftBank
its Vision Fund unit took a US$10 billion “The pipeline is very robust,” Navneet
hit from a decline in the share prices of its Govil, Vision Fund’s chief financial officer,
launches
portfolio companies and as China’s regu- told Reuters in an interview.
latory crackdown on tech firms weighed. The planned listing of Southeast Asian
buy-back after
Even as the value of its assets slide, the ride-hailer Grab via a merger with a spe-
Japanese tech conglomerate said its stock cial-purpose acquisition company will
US$10 billion
is undervalued and will spend up to ¥1 provide further valuation gain, Govil said.
trillion (US$9 billion) buying back nearly The group’s net loss of ¥398 billion
Vision Fund loss

15% of its shares. (US$3.5 billion) compared with a profit of
While chief executive officer Masayoshi ¥628 billion a year earlier. Vision Fund’s
Son has likened SoftBank to a goose laying investment loss totalled ¥1.167 trillion.
“golden eggs”, Monday’s results under- SoftBank has been raising capital by
score the headwinds for the investment by Sam Nussey trimming stakes in companies such as
business. Reuters ride-hailer Uber Technologies and food
“We are in the middle of a blizzard,” delivery firm DoorDash following the ex-
Son told a news conference, adding he was should be gauged. Asset values plunged by piry of lock-up periods.
“not proud” of the Vision Fund’s perfor- 23% to US$187 billion in the three months The group has returned US$9.8 billion
mance in the quarter.Yet he said the com- to September. to investors and is focusing on investing
pany was making steady steps to double While SoftBank shares trade at around through its second Vision Fund that has
the numbers of “golden eggs” compared a 50% discount, lower than a record gap US$40 billion in committed capital from
with in last year. that triggered the launch of an eventual SoftBank and Son himself.
The group’s largest asset, Chinese ¥2.5 trillion buy-back last year, the con- The second fund had invested
e-commerce firm Alibaba, saw its valua- glomerate has the capital to do repurchases US$33.5 billion in 157 start-ups at the
tion fall by around a third in the second now, Son said. end of the quarter. Eight of those firms
quarter. Its stake in Chinese ride-hailer “I am excited because we are discount- have already listed.
Didi, acquired for US$12 billion, was val- ed compared to our true strength,” Son Son said he lost ¥150 billion through
ued at US$7.5 billion. said. his personal investment in SB Northstar,
Another notable hit was online retail- Investors have been calling for a buy- the group’s trading arm which bets on de-
er Coupang, which gave up a third of its back to enhance returns. Repurchased rivatives and whose activities have been
value. shares will be retired, a move that lowers the wound down.
“The strategy of let’s create the percep- bar for Son, SoftBank’s top shareholder, to The billionaire is also investing his
tion of enhanced value by taking things potentially launch a management buyout. own money in SoftBank’s Latin Ameri-
public hasn’t really worked this year,” Re- “The buy-back gives them a crude le- can funds, the company said.
dex Research analyst Kirk Boodry said. ver to influence the discount the shares “It’s tough taking risk on yourself,” said
trade at,” said Boodry, adding that the Son, saying he is willing to take a chance
‘Crude lever’ more gradual pace may reduce share as SoftBank’s “captain”.
Son said the change in the value of the price volatility. SoftBank shares, which have lost around
group’s assets rather than profit is the Future upside for the Vision Fund in- a quarter this year, closed down 0.77%
primary measure by which performance cludes its India portfolio with ride-hailer at ¥6,161 ahead of earnings on Monday.
Pfizer’s Covid-19
HONG KONG (Nov 8): Shares tied to reo- Hong Kong. Wuxi Biologics Cayman Inc,
pening trades from casinos to airlines surged which makes ingredients for AstraZeneca
pill is shaking up
in Asia on Monday after Pfizer Inc said that plc’s vaccine, also fell by 8.6%.
its Covid-19 pill could reduce hospitalisa- If successful, Pfizer’s pill “may create
the Asia recovery

tions and deaths in high-risk patients by 89%. uncertainties for earnings outlook and val-
A Bloomberg gauge of Macau casino shares uations of Chinese vaccine makers”, said
trade
jumped 5.9%, the biggest move in over two Daniel So, a strategist at CMB Internation-
months, while an index of Asia-Pacific airline al Securities. “The impacts are expected
stocks rallied 4.5%, the most since March. to be of mid to long term.”
Luggage manufacturer Samsonite Interna- In Japan, Shionogi & Co, which has been
tional SA climbed 14% in Hong Kong. by John Cheng & Catherine Ngai developing a rival drug to Pfizer’s, fell the
The buying frenzy in Asia — which tracks Bloomberg most since March 2020.The firm is expecting
gains among similar stocks in the US — late-stage trial data on that treatment by De-
comes as Pfizer looked to become the sec- smoothly, especially if the pill is able to re- cember.Takara Bio Inc, which has a contract
ond pharmaceutical company to offer an duce the strain on hospital capacity”, said Jun to produce mRNA vaccines in Japan starting
oral pill to combat the virus. While Pfizer’s RongYeap, market strategist with IG Asia Pte next year, fell the most since May of last year.
drug has yet to receive emergency authorisa- in Singapore. “The fact that it is an oral treat- Last month, Merck & Co submitted
tion from US regulators, investors said that ment may also suggest that it may be more its experimental treatment to regulators,
it shows promise to help ease the pandemic well received, along with its high efficacy.” after a study showed it slashed the risk of
globally and accelerate a return to travel. Meanwhile, makers of Covid-19 vac- getting seriously ill or dying by half in cer-
The pill is “bringing some hope that cines and treatments in the region slumped, tain patients. Vaccine-related shares also
reopening will be able to take place more with CanSino Biologics Inc sinking 17% in plunged after that news.
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w o r l d
Ant Group starts Taiwan’s TSMC

reuters
to differentiate says it has

consumer loan responded to
business Jiebei U.S. chip data
from bank loans request
by Cheng Leng & Brenda Goh The Shanghai Securities News reported by Yimou Lee
Reuters on Sunday, citing borrowers, that the Jiebei Reuters
platform had made changes to show which
BEIJING (Nov 8): China’s Ant Group said loans were being provided by Chongqing
on Monday that it is making efforts to “dif- Ant Consumer Finance Co, and which
ferentiate” part of its short-term consumer were provided by banks.
loan business Jiebei, as it pursues a Bei- “Jiebei is gradually working on brand
jing-led restructuring aimed at reining in differentiation,” an Ant Group spokesper-
some of its freewheeling businesses. son said, adding that consumer credit ser-
Ant, the financial affiliate of e-com- vices provided independently by banks or
merce giant Alibaba Group, saw its $37 other financial institutions will be present-
billion IPO derailed by regulators last year ed on a “credit loan” page.
and has since been working to turn itself Ant did not elaborate on how much of
into a financial holding firm. its business would be affected by the brand TAIPEI (Nov 8): Taiwan Semiconduc-
Local media on the weekend reported differentiation. tor Manufacturing Co Ltd (TSMC) ,
changes at Jiebei after Chinese regulators Ant has been ordered by regulators to the world’s largest contract chipmaker,
in April asked Ant to conduct a sweeping complete the branding restructuring of said on Monday it had not disclosed
business overhaul, which includes folding Huabei and Jiebei within 6 months after detailed information on clients in its re-
its credit products Jiebei and Huabei, into its consumer finance firm starts to oper- sponse to a US chip data request.
a new consumer finance firm. ate, local media the 21st Century Business TSMC is among several compa-
They also criticised Huabei and Jiebei for Herald reported earlier. nies, including South Korea’s Sam-
improper links between payment services sung Electronics and SK Hynix, that
and financial products, saying that these may the US government has asked to vol-
have over promoted loan services to users. Click here to read the full story unteer information, so it can better
understand the global chip shortage.
It has set a Nov 8 deadline for sub-
mission of the information.
Mercedes cars
But the US request has triggered in-
dustry concerns on trade secrets. The
get fingerprint
South Korean firms — the world’s two
biggest makers of memory chips — plan
payment function
to leave out detailed information when
supplying Washington with data, two
in Visa deal
sources said last week.
TSMC, a major Apple Inc suppli-
er, said it had responded to the US re-
quest to help address the semiconductor
by Christoph Rauwald shortage that has disrupted production
Bloomberg for car makers and consumer electron-
ics suppliers.
FRANKFURT (Nov 8): Daimler AG is TSMC said it remained “committed
partnering with Visa Inc to offer in-car pur- bloomberg to protecting our customers’ confiden-
chases in the UK and Germany using biom- tiality as always, ensuring no custom-
etric technology in Mercedes-Benz vehicles er-specific information is disclosed in
from next year. low and the technology could be rolled out the response”.
Customers can pay with a fingerprint scan globally at a later stage. It did not give any further detail.
processed by the car’s MBUX electronics Automakers are under pressure to expand US Secretary of Commerce Gina
unit, without entering passwords or relying digital offerings in vehicles. The number of Raimondo in September said the re-
on mobile devices for verification, the com- cars connected to the Internet is projected quest for information was aimed at
panies said Monday in a joint statement. to increase to more than 352 million in the boosting supply chain transparency.
“There is nothing more convenient than next two years, propelling the market for She warned if companies did not an-
authorising a payment with your fingerprint,” in-car payments to approximately US$86 swer the call, “then we have other tools
said Franz Reiner, the head of Daimler’s mo- billion by 2025, according to forecasts from in our tool box that require them to
bility unit. Other European markets will fol- Capgemini and Juniper Research. give us data”.
w o r l d
Singapore sees (Nov 8): Singapore’s financial technolo-

gy sector is expected to attract more in-
Taiwan Oct
fintech funding
vestments this year, which could triple the
amount raised in 2020, according to a top
exports hit
tripling this year
central bank official.
Funding in fintech is estimated to total
record high,
to US$3b
about US$3 billion by the end of the year,
Sopnendu Mohanty the Monetary Author-
ity of Singapore’s chief fintech officer, said
outlook strong for
by Krystal Chia
in an interview on Monday.
This development comes as Singapore
next six months
Bloomberg seeks to become a regional hub for capital
raising in areas from payments to robo-ad- by Yimou Lee, Emily Chan
visory. Digital banking, which is also part & Ben Blanchard
of a wider development in fintech, will be- Reuters
come more competitive against traditional
lenders as new players roll out products TAIPEI (Nov 8): Taiwan's exports
on mobile phones, according to Mohanty. rose for a 16th straight month in Oc-
“They will be far more efficient, their tober to a new high as the island's
use of tech stack wins on the cost trans- technology manufacturers faced
action, hence they will be more compet- sustained demand for consumer
itive,” Mohanty said in an interview with electronics in the coming year-end
Bloomberg TV’s Haidi Stroud-Watts and shopping season and amid a global
Shery Ahn, responding to a question on shortage of computer chips.
how they might stack up against brick- Exports in October were the
and-mortar banks. highest monthly figure on record,
Singapore last year gave four licens- rising 24.6% from a year earlier to
es to offer financial services to non-bank US$40.14 billion, the Ministry of Fi-
firms, including a venture between Grab nance said on Monday.
Holdings Inc and Singapore Telecommu- Analysts in a Reuters poll had
nications Ltd, Sea Ltd and a local unit of forecast a rise of 24.4% for Octo-
Ant Group Co. These digital banks are ex- ber, compared with a 29.2% increase
pected to start operating from early 2022. in September.
The ministry attributed the growth
to strong demand for tech products
in the year-end shopping season in
Fuel tax cuts will

NEW DELHI (Nov 8): India is expect- which vendors traditionally launch
ed to forgo more than 400 billion rupees new models such as smartphones.
see India forgoing

(US$5.37 billion) in revenue this year on The growth was also supported
account of paring taxes on gasoline and die- by robust demand and rising prices
over US$5 billion

sel, a decision aimed at providing relief to for chips, a shortage of which has
consumers from record high pump prices. crippled car plants globally and is
in revenue
The cuts translate into a revenue miss affecting consumer electronics, and
of 450 billion rupees, or 0.2% of gross do- the gradual post-pandemic economic
mestic product, for the remainder of the bounce back around the world.
fiscal year ending March, according to cal- Exports of telecommunication
culations by Nomura Holdings Inc. Similar by Vrishti Beniwal and electronics products hit a record
estimates by other economists, including Bloomberg high in October at US$5.88 billion,
Rahul Bajoria at Barclays plc, showed an with semiconductor exports growing
impact of almost 1.3 trillion rupees on the according to Teresa John, an economist 11.8% from a year earlier.
government’s coffers next year. with Nirmal Bang Institutional Equities The ministry warned of risks
Prime Minister Narendra Modi’s ad- Pvt in Mumbai. That is because she sees ahead, including uncertainty over the
ministration last week lowered an excise revenue from sale of state assets falling Covid-19 pandemic and the effect of
levy on diesel and gasoline, in a move that short, offsetting gains from tax buoyancy. power cuts in China on supply chains.
will check inflationary pressures and allow The pared levies could lower headline con- But it said the strong growth
the central bank to keep borrowing costs sumer price inflation by 10 to 14 basis points, should continue for the next six
lower for longer to support a nascent eco- according to economists, including those at months, with new consumer elec-
nomic recovery. The fiscal cost of the deci- IDFC First Bank Ltd and Yes Bank Ltd. tronics hitting the market and the
sion is seen negligible for Modi compared “This should translate into around 0.14 year-end holiday season, traditionally
to potential political gains, as his Bharati- percentage point’s reduction in headline a busy time for Taiwan's tech firms,
ya Janata Party heads to the polls in a key inflation in November due to direct ef- helping exports.
Indian state early next year. fects, and around 0.3 percentage point, Ministry official Beatrice Tsai ex-
Still, the federal government’s fiscal including the second round impacts, as pected exports to grow 21.4% year-on-
deficit could widen to as much as 7% of logistics costs decline,” said Sonal Varma of year in the fourth quarter and 11.8% in
gross domestic product, against a budg- Nomura. “The overall growth boost could the first quarter of 2022, respectively.
eted target of 6.8% for the current year, be around 0.1 percentage point.”
w o r l d
Sydney Airport In a world

reuters
agrees to desperate for

US$17.5 billion wheat, Australia
buyout deal and Argentina
tions for the first since the beginning of the
step up
by Paulina Duran & Sameer Manekar
Reuters coronavirus pandemic.
It follows a sweetened offer by SAA of by Yimou Lee
SYDNEY (Nov 8): Sydney Airport Hold- A$8.75 a share in September, 3.6% higher Reuters
ings said on Monday it has agreed to accept than its first approach, that convinced the
a A$23.6 billion (US$17.46 billion) takeover company’s board to give the consortium ac- SYDNEY (Nov 8): For the second sea-
bid from an infrastructure investor group in cess to due diligence. son in a row, the stars are favourably
one of Australia’s biggest ever buyouts. The deal is conditional on an independent aligned for Australian wheat growers —
The board of country’s biggest airport expert’s report, approval from 75% of the a bumper harvest, a shortage of one of
said in a statement that it unanimously rec- airport operator’s shareholders and a green the world’s most important foods and
ommended the buyout offer from Sydney light from the competition regulator and the global prices near nine-year highs.
Aviation Alliance (SAA), comprised of Aus- Foreign Investment Review Board. Australia is set to ship 24.5 million
tralian investors IFM Investors, QSuper and “We look forward to securityholders vot- tons in the coming season, says Rabo-
AustralianSuper and U.S.-based Global In- ing on the proposed deal,” SAA said in a bank, or near to the highest quantity
frastructure Partners. statement. ever. And another southern hemisphere
“The Sydney Airport Boards believe the “Our alliance represents many millions country, Argentina, is on track to move
outcome reflects appropriate long-term value of Australians ... and we intend to work hard out 13.5 million tons, also near to an all-
for the airport, and unanimously recommend to bring more flights and passengers back to time high, according to US Department
the proposal to securityholders,” Chairman the airport as the aviation industry emerges of Agriculture data. Together, these two
David Gonski said. from COVID-19.” nations are likely to account for almost
A scheme implementation deed had been The Australian Competition and Con- 20% of world exports this season.
made on Monday and a scheme meeting sumer Commission is investigating the trans- The cargoes are sorely needed in
would take place in January, the company said. action’s impact on competition, including a world bereft of the grain used in
The deal to buy Australia’s only listed the impact of the consortium’s ownership everything from bread and cakes, to
airport operator comes as the country this of multiple airports in the country. It is due biscuits and bagels. Droughts, frost
month eased its international border restric- to release its findings on Dec. 16. and heavy rain in key northern hemi-
sphere exporters this year have curbed
supplies and sparked a buying frenzy
in the Middle East. The surge in pric-
Britain wants a
LONDON (Nov 8): Britain wants a “rich es has helped push global food costs
mix” of people in the upper chamber of par- to the highest in a decade, adding to
‘rich mix’ in the

liament and wealthy businessmen should not inflationary pressures.
be excluded from the House of Lords, Britain’s Australia’s big customers mostly in-
Lords, minister
trade minister said on Monday after media re- clude Indonesia, Vietnam, China and
ported that political donations led to peerages. other countries in the Asia-Pacific re-
says
Prime Minister Boris Johnson has faced gion. Indeed, China has been showing
criticism from opponents after pushing par- an increased appetite for wheat from
liament to protect a lawmaker found to have Down Under this year, despite impos-
broken lobbying rules, and for his own luxury ing a raft of trade restrictions on oth-
holidays and refurbishment of Downing Street. by Guy Faulconbridge er products from the country, with its
The Sunday Times reported that those Reuters purchases jumping 55% in the first nine
who had donated over 3 million pounds months of 2021 from a year earlier.
($4 million) to the Conservative Party had Former British Prime Minister John Ma- “The Australian shipping pro-
then got peerages. jor on Saturday attacked Johnson’s handling gramme, as a result of strong demand,
“We want a rich mix in the House of Lords of a corruption row, saying the government’s continues to be aggressively sold,” said
but voices with experience,” International behaviour was arrogant, broke the law CBH Group, the country’s biggest grain
Trade Secretary Anne-Marie Trevely- and was “politically corrupt”. exporter, adding that bulk ocean freight
an (pic) told Sky when asked about Major, Britain’s prime minis- rates have fallen by 10% in the past
the Sunday Times report. ter between 1990-1997, said his few weeks. Southeast Asian flour mill-
Trevelyan said Johnson had party had trashed the reputation ers are looking to cover first quarter
followed the guidelines on his of parliament. The former pre- requirements.
holidays and the refurbishment mier, whose own government was Still, there may be a couple of cave-
of Downing Street. Johnson accused of sleaze, said he would ats for Australian grain.
has said the government fol- face a dilemma over whether to
lowed the rules over the re- vote for Johnson at the next
furbishment. reuters election. Click here to read the full story
M A R K E T S
CPO RM 4,895.0015.00 OIL US$ 83.490.75 RM/USD 4.1543 RM/SGD 3.0792 RM/AUD 3.0759 RM/GBP 5.6049 RM/EUR 4.8028
Top 20 active stocks

NAME VOLUME CHANGE CLOSE YTD MARKET
(MIL) (RM) CHANGE CAP
(%) (RM MIL)
ECOMATE HOLDINGS BHD 145.4 0.155 0.485 0.00 169.8
Kanger International Bhd 99.9 0.000 0.035 -75.86 209.3
NWP Holdings Bhd 95.5 0.020 0.340 36.00 179.0
KNM Group Bhd 93.5 0.005 0.215 4.88 718.4
AirAsia X Bhd 60.40 0.015 0.060 -20.00 248.90
Dagang NeXchange Bhd 44.60 0.005 0.790 251.11 2441.7
Hextar Industries Bhd 43.20 -0.010 0.170 1.40 189.7
Ta Win Holdings BHD 43.00 -0.005 0.145 93.33 495
Top Builders Capital Bhd 40.0 0.005 0.030 -73.91 21.2
Hibiscus Petroleum Bhd 39.80 0.045 0.910 56.90 1826.5 World equity indices
Scope Industries Bhd 38.60 0.015 0.415 39.57 478.8 CLOSE CHANGE CHANGE CLOSE CHANGE CHANGE
YBS International Bhd 34.90 0.040 0.565 205.41 139.5 (%) (%)
Sarawak Consolidated 34.70 0.020 0.205 -85.56 119.3 DOW JONES 36,327.95 203.72 0.56 INDONESIA 6,632.30 50.51 0.77
GUH Holdings Bhd 30.80 0.080 0.775 70.33 215.3 S&P 500 4,697.53 17.47 0.37 JAPAN 29,507.05 -104.52 -0.35
Industronics BHD 30.70 -0.020 0.165 -8.33 65.1 NASDAQ 100 16,359.38 13.14 0.08 KOREA 2,960.20 -9.07 -0.31
Eduspec Holdings Bhd 29.80 0.005 0.020 0.00 57.9 FTSE 100 7,299.10 -4.86 -0.07 PHILIPPINES 7,396.22 55.45 0.76
Tanco Holdings Bhd 29.70 -0.005 0.265 430.00 443.3 AUSTRALIA 7,452.21 -4.73 -0.06 SINGAPORE 3,263.90 21.56 0.66
EP Manufacturing Bhd 27.90 0.135 0.945 195.31 163.3 CHINA 3,498.63 7.06 0.20 TAIWAN 17,415.30 118.40 0.68
AirAsia Group Bhd 27.90 0.020 1.140 28.81 4,443.80 HONG KONG 24,763.77 -106.74 -0.43 THAILAND 1,626.13 -0.09 -0.01
Signature International Bhd 27.2 0.15 1.27 135.19 350.5 INDIA 60,545.61 477.99 0.80 VIETNAM 1,467.57 11.06 0.76
Data as compiled on Nov 8, 2021 Source: Bloomberg Data as compiled on Nov 8, 2021 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)
ECOMATE HOLDINGS BHD 0.49 47.0 145441.7 0.00 169.8 MCOM Holdings Bhd 0.005 -95.00 410.0 -98.08 0.9
Eduspec Holdings Bhd 0.02 33.3 29811.7 0.00 57.9 Compugates Holdings BHd 0.015 -25.00 316.8 -25.00 57.3
AirAsia X Bhd 0.06 33.3 60,419.10 -20.00 248.9 Nexgram Holdings Bhd 0.020 -20.00 2,140.90 -55.56 88.3
BSL Corp Bhd 2.43 30.0 8190.5 1178.95 469.7 Malaysian Genomics Resource 1.640 -18.00 18298.8 60.78 203.7
Widetech Malaysia BHD 5.55 25.6 2541.7 825.00 248.4 MNC Wireless Bhd 0.025 -16.67 80.2 -44.44 44.0
Top Builders Capital Bhd 0.03 20.0 40027.4 -73.91 21.2 Dolomite Corp Bhd 0.035 -12.50 2.0 -69.57 20.7
Stella Holdings BHD 1.14 19.4 1333.9 40.74 76.4 Mlabs Systems Bhd 0.040 -11.11 8619.2 -50.00 58.0
TAFI Industries Bhd 2.73 18.2 21733.3 352.78 338.3 Industronics BHD 0.165 -10.81 30681.6 -8.33 65.1
EP Manufacturing Bhd 0.95 16.7 27,925.90 195.31 163.3 Theta Edge BHD 0.955 -8.17 11965.1 24.84 102.4
Alam Maritim Resources Bhd 0.04 16.7 10285.8 -58.82 53.6 Solution Group Bhd 0.450 -8.16 3670.3 -62.18 197.9
Scomi Energy Services Bhd 0.08 14.3 20.2 -15.79 37.5 Nextgreen Global Bhd 1.080 -7.69 4059.4 170.00 786.7
Signature International Bhd 1.27 13.4 27249.2 135.19 350.5 Astral Asia Bhd 0.120 -7.69 109.2 -11.11 79.2
Khind Holdings Bhd 4.84 12.8 1055.9 65.19 193.9 Mobilia Holdings Bhd 0.240 -7.69 4134.4 0.00 168.0
Kumpulan H&L High-Tech Bhd 1.88 12.6 14781.5 288.97 206.3 ECM Libra Group Bhd 0.180 -7.69 0.1 -21.74 86.4
Xidelang Holdings Ltd 0.05 12.5 654.0 -35.71 95.2 Scanwolf Corp Bhd 0.565 -7.38 14583.2 280.90 97.2
Pasukhas Group Bhd 0.05 12.5 1091.9 -87.53 52.1 Asia Poly Holdings Bhd 0.190 -7.32 7152.9 -29.63 165.8
Orion IXL Bhd 0.05 12.5 648.0 -43.75 45.6 Marine & General Bhd 0.065 -7.14 41.4 -64.86 47.1
Sand Nisko Capital Bhd 1.45 11.5 11016.0 346.15 168.0 TechnoDex Bhd 0.130 -7.14 620.9 -58.73 104.9
GUH Holdings Bhd 0.78 11.5 30785.2 70.33 215.3 Permaju Industries Bhd 0.065 -7.14 5182.6 -62.86 72.7
BCM Alliance Bhd 0.05 11.1 5504.1 -79.09 78.2 TAS Offshore Bhd 0.280 -6.67 390.70 -1.75 48.9
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)
Widetech Malaysia BHD 5.55 1.13 2541.7 825.00 248.40 Genetec Technology Bhd 47.000 -1.440 365.6 2616.76 2436.3
Petronas Dagangan Bhd 20.68 0.88 101.8 -3.36 20,544.60 Malaysian Pacific Industries 48.000 -0.900 83.2 84.90 9547.0
BSL Corp Bhd 2.43 0.56 8190.5 1178.95 469.70 Fraser & Neave Holdings Bhd 26.620 -0.680 142.00 -17.02 9763.6
Khind Holdings Bhd 4.84 0.55 1055.9 65.19 193.90 Sam Engineering & Equipment 22.940 -0.660 93.8 211.26 3104.9
TAFI Industries Bhd 2.73 0.42 21733.3 352.78 338.30 Malaysian Genomics Resource 1.640 -0.360 18298.8 60.78 203.7
Kuala Lumpur Kepong Bhd 21.08 0.38 248.4 -10.98 22,721.90 AEON Credit Service M Bhd 14.700 -0.280 204.8 22.50 3753.0
Heineken Malaysia Bhd 22.48 0.28 51.80 -2.35 6791.2 Hong Seng Consolidated Bhd 3.530 -0.200 2849.5 578.85 9011.3
Rapid Synergy Bhd 9.95 0.28 122.10 50.76 1,063.60 Genting Plantations Bhd 7.040 -0.200 320.9 -27.68 6316.3
SKB Shutters Corp Bhd 2.41 0.23 1,278.10 301.67 106.00 OM Holdings Ltd 5.880 -0.180 1144.2 0.00 4343.1
Kumpulan H&L High-Tech Bhd 1.88 0.21 14,781.50 288.97 206.30 Negri Sembilan Oil Palms BHD 3.150 -0.150 34.4 -0.31 221.1
Stella Holdings BHD 1.14 0.19 1333.9 40.74 76.40 Riverview Rubber Estates BHD 3.100 -0.150 0.8 2.26 201.0
Panasonic Manufacturing 30.26 0.18 9.8 -1.75 1,838.20 NPC Resources BHD 1.870 -0.130 6.0 -1.58 212.7
ECOMATE HOLDINGS BHD 0.49 0.16 145441.7 0.00 169.8 British American Tobacco M’sia 14.940 -0.120 175.6 6.11 4265.8
Sand Nisko Capital Bhd 1.45 0.15 11,016.00 346.15 168.00 Southern Acids Malaysia BHD 3.890 -0.110 44.0 2.37 532.7
Hong Leong Capital Bhd 7.50 0.15 1334.7 21.16 1,851.70 DKSH Holdings Malaysia Bhd 5.690 -0.110 113.7 67.85 897.1
Signature International Bhd 1.27 0.15 27,249.20 135.19 350.50 Kobay Technology BHD 5.280 -0.110 597.7 562.76 1585.5
EP Manufacturing Bhd 0.95 0.14 27,925.90 195.31 163.3 Ta Ann Holdings Bhd 3.060 -0.110 815.9 0.99 1347.8
YNH Property Bhd 2.81 0.13 150.6 1.81 1,485.00 Supermax Corp Bhd 1.840 -0.100 5663.5 -66.92 4816.5
Chin Teck Plantations BHD 7.66 0.13 5.00 16.33 699.80 UWC BHD 6.100 -0.100 1392.1 24.49 6713.9
Telekom Malaysia Bhd 5.61 0.11 3,308.00 3.70 21170.5 Atlan Holdings Bhd 2.700 -0.100 79.0 -26.43 684.90

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MALAYSIA-SINGAPORE VACCINATED TRAVEL LANE

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Sydney Airport In a world

agrees to desperate for

‘rich mix’ in the

Top 20 active stocks

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

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

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