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U Mobile to offer unit trusts from 3Q2019

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KUALA LUMPUR: U Mobile Sdn Bhd, via its subsidiary U Mobile Services Sdn Bhd, has tied up with iFAST Capital Sdn Bhd to offer unit trusts from the latter’s business-to-consumer (B2C) online distribution arm, FSMOne. In a joint statement today, U Mobile and iFAST Capital said the FSMOne’s unit trust offerings would be made available on U Mobile’s soon to be launched e-wallet — GoPayz application, or the website starting from the third quarter of this year (3Q 2019). “To simplify the customer experience, transactions of FSMOne’s unit trusts mayRead More


Censof to buy majority stakes in two companies for RM1.3m

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KUALA LUMPUR (May 16): Censof Holdings Bhd’s wholly-owned subsidiary Century Software (M) Sdn Bhd (CSM) will acquire majority stakes in two companies for RM1.3 million. In a bourse filing today, the group said CSM had entered into a share sale and purchase agreement with shareholders Abdul Rehman Khalid and Shanmugam Pachapan to acquire a 51% stake in both Netsense Business Solutions Sdn Bhd (NBSSB) and its Singapore-based business Netsense Business Solutions Pte Ltd (NBSPL) for RM1.3 million. Under the deal, CSM will acquire 255,000 shares in NBSSB and 51,000 sharesRead More


Defence Ministry to lodge MACC report on remaining 14 land-swap projects

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KUALA LUMPUR (May 16): The Defence Ministry said today it will lodge a report with the Malaysian Anti-Corruption Commission (MACC) on the remaining 14 land-swap projects involving tracts owned by the ministry. The ministry said this is to protect the nation’s sovereignty and ensure failure of such schemes do not recur. Mohd Nasaie Ismail, who is special duties officer to the defence minister, said in a statement today the investigative committee for government revenue, finance administration on the land-swap projects in the country had earlier investigated 16 land-swap projects involvingRead More


Tesla Suddenly Catches Fire in Hong Kong Parking Lot, Times Says

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(Bloomberg) — A Tesla Inc. electric vehicle suddenly caught fire in a Hong Kong parking lot, the Hong Kong Economic Times said, less than a month after a similar case was reported in Shanghai. The Tesla Model S had been been parked in San Po Kong Plaza for about half an hour on May 12 before the battery started emit to smoke and flames appeared, according to the report. There were sounds of explosions and firefighters took about 45 minutes to extinguish the blaze, the Economic Times reported. It wasRead More


Uber ends below $45 IPO price, washing out in market debut

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Uber (UBER) officially began trading Friday on the New York Stock Exchange, but stumbled out of the gate as its stock settled below its $45 initial public offering price. In Uber’s first test of whether it can transition from Silicon Valley unicorn to a publicly traded company while winning over a skeptical, volatile market, the stock — which priced at $45 on Thursday — gradually drifted lower from the $46-$48 indicated range prior the open. In its first trade, Uber hit the market at $42 per share on the New York Stock Exchange (NYSE),Read More


Genting Malaysia profit seen to be affected by tax exemption

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Genting Malaysia Bhd (Jan 25, RM3.18) Maintain hold with an unchanged target price (TP) of RM3.25: The company announced last Thursday evening that Genting Malaysia Bhd’s application for tax incentives for the Genting Integrated Tourism Plan (GITP) had been approved by the ministry of finance (MoF) in December 2014, which, among other things, entitled the company to claim income tax exemptions equivalent to 100% of qualifying capital expenditure (capex) incurred for a period of 10 years. However, in December 2017, the MoF made a decision to amend the 2014 tax incentiveRead More


China can no longer rely on real estate for growth. It’s now turning to railways and more debt

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Chinese authorities face an ever-growing list of challenges — be it an ongoing trade fight with the U.S. or headwinds in domestic demand — and it appears they don’t have many tools left to spur the economy amid a slowdown. The real estate market in China has traditionally played a major role in its economic development, household wealth and public sentiment. Real estate has been used by Beijing to stimulate growth during previous downturns, including one just three years ago. But along with a Chinese penchant for investing in houses, persistent expectationsRead More


Stock With Momentum: Caring Pharmacy Group

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Caring Pharmacy Group Bhd (-ve) TRADING of shares in Caring Pharmacy Group Bhd (fundamental: 2.5/3, valuation: 1.7/3) triggered our momentum algorithm last Friday after some 124,100 shares in the group were traded. Comparatively, the counter’s 200-day average volume traded was 9,502 shares. The stock closed up two sen or 1.19% to RM1.70 last Friday, with a market capitalisation of RM370.1 million. Caring posted a 4.3% increase in net profit for its second financial quarter ended Nov 30, 2018 (2QFY19) to RM5.74 million on the back of higher margins and salesRead More


IT salaries in Asia surpass Europe as Singapore, Japan boost pay — but the US continues to dominate

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Information technology professionals in Asia are set for a lucrative future, according to a new report that found tech wages in the region are on the rise. U.S.-based software management firm Puppet surveyed 3,000 IT professionals globally and found that salaries in Asia Pacific outpaced Europe in 2018. IT practitioners and managers in Asia earned an average of $75,000 to $100,000 last year compared to their counterparts in Europe, who took home an average of $50,000 to $75,000. The shift was led by a hike in salaries in Singapore and Japan, which, as more developedRead More