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PNB and Maybank in digital tie-up, expect ASNB investments to rise 20% next year

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) and Malayan Banking Bhd (Maybank) expect to see 20% increase in ASNB investments next year with the launch of ASNB e-channels via Maybank’s digital platform today.

The new services enable ASNB customers to make transactions and view their account balances via Maybank’s ATMs and Maybank2u (M2U) in real time, beyond banking hours.

Speaking at the launch ceremony today, Maybank’s head of community financial services Datuk Hamirullah Boorhan said currently, over three million ASNB transactions are conducted over the bank’s counters a year, of which around one million comprise deposits transactions.

“We expect some 50% of these deposit transactions will move to our digital platforms,” he added, noting that the new services will be extended to the Maybank app by end of this year.

In addition to the new services, ASNB and Maybank also announced that by end of this year, small and medium enterprises (SMEs) will be able to transfer funds on behalf of their employees to ASNB via M2U Biz.

“Another new feature that will provide greater convenience to retail customers is the ability to apply for an ASB loan via M2U, which will be made available by the first quarter of 2019,” Hamirullah added.

To date, ASNB has 14 unit trust funds and manages 235.96 billion units in circulation owned by more than 13.74 million account holders.

Meanwhile, Maybank’s group president and CEO Datuk Abdul Farid Alias said the bank is slightly more optimistic on its 2019 outlook as it sees Malaysia’s economy growing at 4.9% next year compared to its 4.8% projection for 2018.

“2019 is going to be another interesting year. It will be slightly better than 2018 as we are quite optimistic about its outlook,” Abdul Farid said.

Abdul Farid said that although there is concern on how the trade numbers will perform going forward due to US-China discussions, he sees that Malaysia is in a comfortable position, noting it could probably see a slightly faster growth compared to 2018.

“FOMC (Federal Open Market Committee) is meeting soon. We are seeing interest rates and dollar rates moving up bit by bit. But people will be able to allocate risks into their investments accordingly,” he added.

Additionally, he said the growth for this year was within the bank’s expectations.

He said the bank’s growth is relative to the growth of the economies where it has a presence including Malaysia, Singapore and Indonesia.


Bursa Malaysia ends in the red tracking bearish regional bourses

KUALA LUMPUR: Bursa Malaysia ended in the red today on weaker demand as traders track the bearish sentiment in regional stock markets, amid the sharp losses on Wall Street overnight.

The FTSE Bursa Malaysia KLCI (FBM KLCI) finished 6.31 points lower at 1,635.31 from Monday’s close of 1,641.62.

After opening 13.15 points weaker at 1,628.47, the index moved between 1,626.93 and 1,643.88 throughout the day.

A dealer said growing concerns over the global growth outlook pushed US stocks sharply lower for the second consecutive day, coupled with recent gloomy data releases in China and the eurozone.

Furthermore, he said investors turned cautious ahead of the outcome of the two-day US Federal Open Market Committee meeting, starting today.

“Some bargain hunting emerged at the eleventh hour today in telecommunications and banking stocks, however, the FBM KLCI struggled to remain in the positive territory,“ he added.

On Wall Street, the S&P 500 fell 2.1% at 2,545, its lowest finish since October 9, 2017, while the Dow Jones Industrial Average also ended 2.1% lower and the Nasdaq Composite shed 2.2%.

Among regional stocks, Singapore’s Straits Times Index fell 1.9% tot 3,055.07, Jakarta Composite Index declined 0.12% to 6,081.87 and Hong Kong’s Hang Seng Index was 1.05% weaker at 25,814.25.

Market breadth on Bursa Malaysia was negative with 700 losers and 222 gainers, while 292 counters remained unchanged, 691 untraded and 24 others suspended.

Total volume increased to 2.26 billion units worth RM1.90 billion from 1.46 billion units worth RM1.17 billion on Monday.

Among heavyweights, Maybank fell eight sen to RM9.22, Public Bank gained four sen to RM24.26, Tenaga declined 22 sen to RM12.70 and Petronas Chemicals lost three sen to RM9.15.

Of actives, VS Industry shed 16.5 sen to 65.5 sen, Bumi Armada gave up half-a-sen to 15.5 sen and MYEG lost six sen to 81.5 sen.

The FBM Emas Index was 94.97 points lower at 11,163.07, the FBMT 100 Index fell 82.15 points to 11,080.31, the FBM 70 declined 249.52 points to 12,698.45, the FBM Emas Shariah Index erased 119.68 points to 11,068.25 and the FBM Ace Index dipped 73.76 points to 4,189.11.

Sector-wise, the Financial Services Index gave up 99.72 points to 17,020.06, the Plantation Index decreased 71.19 points to 6,487.91 and the Industrial Products and Services Index eased 1.18 points to 164.26.

Main Market volume rose to 1.55 billion shares worth RM1.78 billion from 1.01 billion shares worth RM1.09 billion on Monday.

Warrants turnover increased to 431.78 million units worth RM91.67 million from 256.86 million units worth RM56.88 million previously.

Volume on the ACE Market was higher at 272.16 million shares worth RM34.25 million from 198.75 million shares worth RM30.02 million.

Consumer products and services accounted for 152.11 million shares traded on the Main Market, industrial products and services (390.76 million), construction (72.60 million), technology (194.33 million), SPAC (7.05 million), financial services (34.93 million), property (94.71 million), plantations (27.93 million), REITs (11.09 million), closed/fund (nil), energy (405.48 million), healthcare (41.94 million), telecommunication and media (30.90 million), transportation and logistics (70.35 million), and utilities (25.55 million).— Bernama


LEAD (wkplus) PLUS denies RFID launch breaching agreement

PETALING JAYA: PLUS Malaysia Bhd yesterday confirmed that it has been served with an arbitration notice by CIMB Group Holdings Bhd, but it refuted allegations of its Radio Frequency Identification (RFID) system breaching the joint venture agreement (JVA).

PLUS said in a statement that the recent launch of the PLUS RFID public pilot project will promote choices to the rakyat as it offers options and convenience for customers to pay as you use, with credit and debit cards, in addition to the existing e-wallet and prepaid mode of payment provided by Touch ‘n Go.

“Touch ‘n Go’s e-wallet and prepaid payment remains one of the options in the PLUS RFID public pilot project, PLUS therefore believes that it is not a breach of any agreement.”

PLUS opined that giving additional choices to the highway users should be considered a virtue, in line with the spirit of the Touch ‘n Go agreement to provide them the best customers service.

“PLUS is looking forward to making our case in the arbitration proceeding.”

Meanwhile, CIMB told Bursa Malaysia yesterday that the group and its wholly owned subsidiary CIMB SI 1 Sdn Bhd have taken legal proceedings against PLUS vide an originating summons filed at the High Court of Kuala Lumpur.

They are seeking an injunction to restrain PLUS from implementing the RFID system as well as interfering in the sales, marketing and/or promotional activities conducted by Touch ‘n Go its RFID system.

The RFID system uses a radio frequency chip embedded on a sticker that is fixed to the vehicle. The sticker, which is unique to each vehicle, will be linked to the Touch ‘n Go eWallet, allowing users to monitor their balance and access online reload options via online banking and debit/credit cards. The RFID sticker will eventually replace the current SmartTAG device.


PLUS denies RFID launch breaches joint venture deal

PETALING JAYA: PLUS Malaysia Bhd today confirmed that it has been served with an arbitration notice by CIMB Group Holdings Bhd, but it refuted allegations of its Radio Frequency Identification (RFID) system breaching the joint venture agreement (JVA).

PLUS said in a statement that the recent launch of the PLUS RFID public pilot project will promote choices to the rakyat as it offers options and convenience for customers to pay as you use, with credit and debit cards, in addition to the existing e-wallet and prepaid mode of payment provided by Touch ‘n Go.

“Touch ‘n Go’s e-wallet and prepaid payment remains one of the options in the PLUS RFID public pilot project, PLUS therefore believes that it is not a breach of any agreement.”

PLUS opined that giving additional choices to the highway users should be considered a virtue, in line with the spirit of the Touch ‘n Go agreement to provide them the best customers service.

“PLUS is looking forward to making our case in the arbitration proceeding.”

Meanwhile, CIMB told Bursa Malaysia today that the group and its wholly owned subsidiary CIMB SI 1 Sdn Bhd have taken legal proceedings against PLUS vide an originating summons filed at the High Court of Kuala Lumpur.

They are seeking an injunction to restrain PLUS from implementing the RFID system as well as interfering in the sales, marketing and/or promotional activities conducted by Touch ‘n Go its RFID system.

The RFID system uses a radio frequency chip embedded on a sticker that is fixed to the vehicle. The sticker, which is unique to each vehicle, will be linked to the Touch ‘n Go eWallet, allowing users to monitor their balance and access online reload options via online banking and debit/credit cards. The RFID sticker will eventually replace the current SmartTAG device.


CIMB launches arbitration proceedings against PLUS

PETALING JAYA: CIMB Group Holdings Bhd and its wholly owned subsidiary CIMB SI 1 Sdn Bhd have filed arbitration proceedings against PLUS Malaysia Bhd for alleged breach of obligations under their joint venture agreement (JVA) signed 20 years ago.

CIMB and CIMB SI 1 claimed that PLUS’ commencement and launch of its own Radio Frequency Identification (RFID) system had violated the JVA in relation to Touch ‘N Go Sdn Bhd. Touch ‘N Go’s shareholders are CIMB, MTD Equity Sdn Bhd and PLUS.

Hence, CIMB and CIMB SI 1 are seeking an injunction to restrain PLUS from engaging in further business of the PLUS RFID system together with damages, interests and costs, according to the banking group’s filing with the stock exchange today.

The notice of arbitration on PLUS was filed and served today by arbitration on PLUS.

Last month, PLUS announced that it will be launching a public pilot for its PLUS RFID open payment system beginning Dec 15. PLUS RFID features an open payment system, which offers flexibility and freedom for Malaysian drivers to pay toll via credit and debit cards.

PLUS said it is working with other highway concessionaires and e-wallet payment providers to enable integration of the PLUS RFID open payment system with other highways and e-wallet payment providers across the country.

Meanwhile, Touch ‘n Go and key highway concessionaires are also preparing to kick-start the rollout of its RFID technology for highway users.

The RFID system uses a radio frequency chip embedded on a sticker that is fixed to the vehicle. The sticker, which is unique to each vehicle, will be linked to the Touch ‘n Go eWallet, allowing users to monitor their balance and access online reload options via online banking and debit/credit cards. The RFID sticker will eventually replace the current SmartTAG device.

Touch ‘n Go’s RFID pilot testing for public started on Sept 3 and is targeted to be launched in January 2019.

CIMB’s share price fell 9 sen or 1.6% to close at RM5.71 today on 4.33 million shares done.


First mobile self-checkout system to be launched by Aeon in Malaysia

KUALA LUMPUR, Dec 17 — Malaysia will be the first in the market to test out a new self-checkout system at Aeon department stores, using the Aeon Wallet app. The Aeon Wallet is the company's own mobile wallet that was launched a few months…


CimbClicks remains secure, additional measures introduced

KUALA LUMPUR: CIMB Bank Bhd’s online banking portal, CIMBClicks remains secure and all customers’ transactions continue to be protected.

“The bank would like to inform that it had, over the weekend, introduced a few additional measures to enhance the security of its CIMBClicks transactions.

“Apart from ensuring that the system is now able to accommodate passwords longer than eight characters and up to 20 characters, we have also added the reCaptcha security measure on CIMBClicks to ensure the user is not a bot,“ the bank said in a statement today, amid recent social media news on alleged insecurity of the online banking portal.

Customers can call +60 3 6204 7788 for any enquiries. — Bernama


CIMBClicks remains secure, additional measure introduced

KUALA LUMPUR, Dec 17 — CIMB Bank Bhd’s online banking portal, CIMBClicks remains secure and all customers' transactions continue to be protected. “The bank would like to inform that it had, over the weekend, introduced a few additional…


AmBank’s CX Lounge focuses on developing a culture of understanding customers’ needs

KUCHING: AmBank Group’s recently launched Customer Service (CX) lounge in Kuching focuses developing a culture of understanding what customer wants and how to meet their needs. According to the Group Corporate Communications and Marketing’s executive vice president Syed Anuar Syed Ali, customers want their basic needs fulfilled when being served at branches. “Because sometimes they […]