TODAY

Malaysia posts 5,911 new Covid-19 cases including 2,111 in Selangor; another 72 deaths recorded.

Stay Healthy for Yourself and Keep Malaysia Safe from the Coronavirus!

Lost in Your Eyes – Debbie Gibson

CORPORATE NEWS

EDGE KUALA LUMPUR (June 18): Based on corporate announcements and news flow today, companies in focus on Monday (June 21) may include: Ipmuda Bhd, FGV Holdings Bhd, TDM Bhd, Petra Energy Bhd, Uzma Bhd, Bermaz Auto Bhd, Kerjaya Prospek Property Bhd, Apollo Food Holdings Bhd and Opcom Holdings Bhd.

Ipmuda Bhd, whose shares have been suspended since noon yesterday, announced today that it has signed a slew of Heads of Agreement to acquire several renewable energy (RE) plants and healthcare assets totalling RM192.4 million, in line with the group’s growth plan.

In a statement, Ipmuda said it is acquiring a 70% equity interest in Telekosang Hydro One Sdn Bhd and Telekosang Hydro Two Sdn Bhd (collectively, Telekosang), as well as 100% of Telekosang Hydro One ASEAN Green Junior Sukuk for a total consideration of RM163.3 million, to be satisfied by way of issuance of new ordinary shares in Ipmuda. Besides that, Ipmuda is acquiring 100% equity interest in Jentayu Solar Sdn Bhd for RM11.1 million, also to be satisfied by way of issuance of new Ipmuda ordinary shares.

FGV Holdings Bhd has said it will appoint an independent auditor to conduct an assessment of FGV’s operations against the 11 indicators of forced labour provided by the International Labour Organization (ILO), as advised by the US Customs and Border Protection (CBP). The group said this appointment is part of the group’s commitment to taking all necessary steps towards the lifting of the Withhold Release Order (WRO) issued by the CBP on Sept 30, 2020 against palm oil and palm oil products made by the group and its subsidiaries and joint ventures.

The Indonesian authorities have revoked the plantation business licence (IUP) issued to TDM Bhd’s Indonesian subsidiary PT Sawit Rezki Abadi (PTSRA) for its 10,000ha land located in the municipality of Melawi, West Kalimantan, which is expected to result in a financial impact amounting to RM3.5 million on the group. TDM said PTSRA received the revocation letter on June 11. The decision to revoke the IUP was made on the basis that the property has not been developed since 2015. PTSRA is currently consulting its legal counsel and in the process of making an appeal to Indonesian authorities.

A joint venture (JV) between Petra Energy Bhd and Uzma Bhd has secured a contract from Petroleum Sarawak Bhd (Petros) for the exploration, development and production of petroleum in Block SK433, onshore Sarawak. The 29-year contract was secured by Petra Energy Development Sdn Bhd (PEDSB) and Uzma Engineering Sdn Bhd (UESB) JV — wholly-owned subsidiaries of Petra Energy and Uzma, respectively. The value of the contract, however, is not determinable as it is based on the production of the asset.

Bermaz Auto Bhd net profit more than doubled quarter-on-quarter to RM66.83 million in the fourth quarter ended April 30, 2021 (4QFY21) from RM33.08 million in 3QFY21 on higher profits from domestic sales, offset by weaker performance in the Philippines. Quarterly revenue grew 7.23% q-o-q to RM641.2 million from RM597.98 million, also on higher sales at home. The group has declared a dividend of 1.5 sen plus a special dividend of 1.75 sen, bringing the full-year total to 6.5 sen, from 7.45 sen in FY20. On a year-on-year basis, the results arrived from a low base of RM2.46 million in 4QFY20 on revenue of RM299.36 million — its weakest since listing, due to Covid-19 lockdowns in Malaysia and Philippines.

Kerjaya Prospek Property Bhd is buying a piece of leasehold land in Petaling Jaya, Selangor for RM82 million. The property developer said its wholly-owned subsidiary Pixel Valley Sdn Bhd had entered into a sale and purchase agreement with Roset-BLG Sdn Bhd. The exact use of the land has not been determined at this juncture, said the group, adding that the land serves as a landbank for Pixel Valley’s property development activities.

Confectionary maker Apollo Food Holdings Bhd said today its Johor Bahru manufacturing facility has resumed operations after a thorough disinfection was carried out on the premises. The group said its subsidiary had received notice from the Ministry of Health (MoH) to resume operations at the premises, which was suspended on June 15.

Opcom Holdings Bhd plans to raise RM22.62 million via a private placement involving 30% of its share base to fund its existing and future contracts, and for working capital. This marks its second cash call this year, after it completed in April a private placement involving up to 10% of its issued shares that it proposed in February. Opcom is also undertaking an employees’ share option scheme (ESOS) with the number of new shares allotted not exceeding 30% of its total issued shares. The proposals are expected to be completed in the second half of 2021.

There’s no shortage of remarkable trading ideas, what’s missing is the will to execute them. LOL

Westlife – Heart Without A Home

Folks, it’s weekend. Do something that your future self will thank you for. Have fun!

TODAY

Whatever you do in a good mood, will be an easy task. Happy Sunday, Folks.

Daniel Powter – Bad Day

You know sometimes when you’re in a really bad mood and you’re not sure why? That’s how I get sometimes.

Boyzone – Words

CORPORATE NEWS

KUALA LUMPUR (June 11): Based on corporate announcements and news flow today, companies in focus on Monday (June 14) may include: IJM Corp Bhd, Kuala Lumpur Kepong Bhd (KLK), Serba Dinamik Holdings Bhd, Boustead Heavy Industries Corp Bhd (BHIC), Uzma Bhd, Yong Tai Bhd, Reservoir Link Energy Bhd and Sern Kou Resources Bhd.

IJM Corp Bhd has agreed to sell its entire 56.2% stake in subsidiary IJM Plantation to Kuala Lumpur Kepong Bhd (KLK) for RM1.53 billion cash, or RM3.10 per share. The disposal is expected to reap the group a disposal gain of RM700 million, IJM said in a statement today. On completion of the transaction – which is still subject to approval of shareholders and lenders at an extraordinary general meeting to be convened at a date that has yet to be determined – IJM Plantation will cease to be its subsidiary. But IJM will continue to be entitled to the dividend of 10 sen per share in July that was declared by IJM Plantations.

Serba Dinamik Holdings Bhd co-founder Datuk Awang Daud Awang Putera, who stressed he is confident in the company’s prospects, has sold more of its shares. Awang Daud on Thursday (June 10) sold 4.3 million more shares in Serba Dinamik, which was in the limelight after its external auditor KPMG raised audit discrepancies to the tune of RM4.54 billion in late May. With the latest disposal, Awang Daud is left with 62.49 million shares or 1.67% in the company, from 2.24% or 75.29 million shares prior to the audit issue revelation. Meanwhile, Employees Provident Fund (EPF) also sold 617,800 shares on the same day. EPF is the second institutional fund that has sold shares after the audit issues. Kumpulan Wang Persaraan (KWAP) has trimmed its stake to 4.53%, after selling 26.18 million shares between May 31 and June 1.

Tan Sri Ramlan Mohamed Ali has resigned as non independent and non executive chairman of Boustead Heavy Industries Corp Bhd (BHIC), effective today. Ramlan, 68, resigned to focus on doing his filial duties towards his 95-year-old father who is hospitalised in Singapore, according to BHIC.

Oil and gas contractor Uzma Bhd has bagged its first overseas chemical supply contract in Thailand, through its wholly-owned subsidiary MMSVS Group Holding Co Ltd. In a statement today, Uzma said the US$3 million valued contract from Medco Energi Thailand (Bualuang) Ltd is for the provision of chemical supply and service for three years, from May 20, 2021 to June 1, 2024.

Property developer Yong Tai Bhd has announced that its subsidiary YTB Healthcare Sdn Bhd (YTBH) today received the first batch of an inactivated Covid-19 vaccine developed by China-based Shenzhen Kangtai Biological Products Co Ltd (SZKT). The arrival of the vaccine followed the National Pharmaceutical Regulatory Agency granting its approval for the Clinical Trial Import License (CTIL) on June 3. This also enables YTBH to roll out the phase 3 clinical trial in Malaysia.

Reservoir Link Energy Bhd is looking to diversify its business and enter the solar energy business. The group said it has signed a share sale agreement with Lee Seng Chi to acquire a 51% stake in Founder Synergy Sdn Bhd (FESB) for RM21.17 million. This purchase consideration will be funded via RM8.46 million in cash, and the allotment of 18.15 million new shares in Reservoir Link at 70 sen a piece to Lee.

Sern Kou Resources Bhd has announced that 90 employees in its wholly-owned subsidiary Sern Kou Furniture Industries Sdn Bhd have been tested as Covid-19 positive. All foreign employees are currently placed under quarantine and isolation. The group is expected to resume its operations in stages, after the end of the Full Movement Control Order period. The group has halted its operations since the Full Movement Control Order started.

source EDGE

TODAY

I’m just enjoying my life.I suggest you try it.

M. Nasir – Tanya Sama Itu Hud Hud

Hibiscus Petroleum acquires Fortuna International for US$212.5mil

NST 4 JUNE 2921 KUALA LUMPUR: Hibiscus Petroleum Bhd is acquiring the entire stake in Fortuna International Petroleum Corporation for US$212.5 million cash.

In a statement today, Hibiscus Petroleum said its indirect wholly-owned subsidiary, Peninsula Hibiscus Sdn Bhd (PHSB), had on June 1, 2021, signed a conditional sale and purchase agreement with Repsol Exploración SA for the acquisition.

“The acquisition is a unique opportunity for Hibiscus to acquire a high-quality asset portfolio, comprising the following five production sharing contracts (PSC) in Malaysia and Vietnam, and assume Repsol’s role as operator,” it said.

Post-acquisition, Hibiscus Petroleum said its daily oil and condensate production would more than double from 9,000 barrels per day (bpd) to 18,500bpd in 2022.

The company anticipate completing the transaction in 2021.

Managing director Dr Kenneth Pereira said once completed, the acquisition will be transformational for the company and bodes well for the business trajectory of Hibiscus Petroleum into its next phase of growth.

“We are pleased to announce that after an international, competitive bidding process, we have been selected by Repsol to acquire their Malaysian and Block 46 Vietnam assets.

“I would like to add that we have very high regard for the team at Repsol, and we are looking forward to welcoming them into the Hibiscus Petroleum family and working with them to monetise opportunities within the assets further.

“Finally, we will be enhancing our geographical footprint and entering Vietnam, and thus we look forward to developing a strong working relationship with PetroVietnam, both as a regulator and as our new partner,” he said.

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Earth, Wind & Fire – Let’s Groove

MONEY TALKS

Mentera Semerah Padi – M. Nasir

Feeling Down? The 2 Good Corporate News to Cheer You Up!!

  • Progressive Impact Corp Bhd (PICORP)* has bagged a contract worth 25.32 million riyal (RM27.88 million) from the Makkah Municipality in Saudi Arabia for the provision of pest control monitoring services in Makkah. PICORP said its wholly-owned subsidiary Saudi ASMA Environmental Solutions LLC had accepted a letter of award on June 1 for the said contract.
  • ACE Market-listed Sedania Innovator Bhd’s subsidiary Sedania Technologies Sdn Bhd has secured awards from Telekom Malaysia Bhd (TM) to expand its GreenTech solutions to 34 sites from the present 10 sites. In a press release, the group said the 24 new sites will expand its current energy performance contract, which aims to improve energy efficiency for its client’s facilities to reduce energy cost.

TESSA have no positions in any of the stocks mentioned. Trade at your own risk. All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action.

Don’t forget to visit us here:

https://tjrevs.blogspot.com

Burn – Tina Arena

MONEY TALKS

Goodbye May Welcome June! Want actionable trading ideas you can start using today?

TRADING IDEAS

M+ Online Technical Trading Stocks – 1 Jun 21
Stock Name: UCREST (0005) Entry: Buy above RM0.435 Target: RM0.48 (10.3%), RM0.51 (17.2%) Stop: RM0.40 (-8.0%) Shariah: Yes Technical: Breakout-pullback-continuation
Stock Name: REVENUE (0200) Entry: Buy above RM1.93 Target: RM2.04 (5.7%), RM2.09 (8.3%) Stop: RM1.82 (-5.7%) Shariah: Yes Technical: Impending flag-formation breakout
Source: Bloomberg, M+ Online

The Pussycat Dolls – Perhaps, Perhaps, Perhaps

Cloud system is evolving, so should its operators

By Paul Cormier

A DECADE ago, Marc Andreessen proclaimed that software was eating the world. This came at a time when social media start-ups were just metamorphosing into giants, and cloud computing was still very much emerging technology. The software revolution introduced a wave of innovation and approaches that have fuelled transformation across industries.

A few years later, this statement changed: Open source software was eating the world, with Deutsche Bank noting in 2015 that there were “open source rivals for almost every major infrastructure and data management software market.”

Red Hat has always believed in open source innovation. Seeing the industry embrace open source development models has been exciting. More open source alternatives, and more contributions to open source projects is always a good thing as it results in more choice and better innovation faster.

From there, as the saying goes, “things escalated quickly.”

Digital transformation started to take hold, apps were king and every company became a software company. Companies opened innovation labs emphasizing application development, frequently iterating on open source software that was then contributed back to communities and driving open source as the currency of a digital age.

But now, 2020 and the pandemic have made it clear that we can’t just build applications – we need to be in charge of running them too. COVID-19 forced organizations to accelerate their digital transformation efforts to drive new innovation and meet customer demands.

In fact, our 2021 State of Enterprise Open Source Report saw digital transformation jump to one of the top three uses of enterprise open source alongside IT modernization and application development.

The prominence of cloud computing and always-on services means that enterprise organizations are leaning more and more on the hybrid cloud as their operational model. Blending services from multiple public clouds into existing data center infrastructure and on-premises workloads while extending out to the edge is building a hybrid cloud and it’s no small feat – this requires new skills, new tools and new strategies.

In short, it is not enough to view every company as a software company. Now, every chief information officer (CIO) is a cloud operator.

Am I saying that every enterprise organization is the next hyperscaler? Absolutely not. But think about the combination of hardware, applications, virtual environments, existing cloud services and associated infrastructure overseen by the average CIO.

Paul Cormier

It may not be on the same scale as what we think of as “cloud” but that doesn’t make it any less of one. Our data centres are on track to be composed of potentially hundreds of unique clouds, and every organization will need to have the platforms, tools, processes and people to effectively operate across these diverse landscapes.

Every CIO and their respective organizations must understand that they control their own cloud destiny. We know how to build for the cloud, but now we need to know how to run the cloud at scale.

It’s about cloud services and applications

Since I started in IT, “choice” has been a crucial component of IT decision-making. A CIO neither plans in a vacuum nor just for today. IT leadership has to forecast how a decision that may seem simple right now could deliver nightmarish complexity, an inability to compete or non-compliance with evolving industry regulations.

This means choice and flexibility were key considerations in years past, but they remain even more important today even as CIOs embrace their role as cloud operators.

Going all in on cloud services might seem easy, but as an all-in strategy, it is a future bet few CIOs are making to give themselves ultimate flexibility for a fast-changing world. Maintaining a large data center that is not only spread across multiple locations but now also multiple clouds requires a highly-skilled IT workforce and can incur significant costs.

Therefore, taking a hybrid approach offers balance, both technologically and economically, but without a consistent hybrid cloud foundation, there are extensive complexities in blending on-premises and cloud services along with the risk of incompatible stacks.

There’s no single right answer for every CIO as a cloud operator, just as there was no single right answer when “all” we had to worry about was building software. This is why choice and flexibility should underpin every decision we make – CIOs need to be able to develop, operate and secure hundreds, thousands or hundreds of thousands of workloads across multiple environments, an incredibly complex task that must not impact production or require siloed workstreams.

This makes it imperative that the next wave of IT solutions flow effortlessly across the hybrid cloud, from cloud service to data centre applications and back. Whether it’s a managed service or an on-premises deployment, these workloads should be just that – workloads – that CIOs as cloud operators can run wherever, whenever and however they need to.

Going beyond the data centre and beyond the cloud

For CIOs that maintain traditional data centres (and that’s nearly all of them), the notion of the data centre is also expanding horizontally. While it’s no longer unusual to scale workloads and environments to the public cloud, the demands of modern applications and end users aren’t fully answered by centralized processing and analytics.

The rise of edge computing comes hand in hand with 5G in telecommunications, artificial intelligence (AI), augmented reality, vehicles as data centres and more, driving compute resources to the furthest edges of enterprise networks.

There are two key delineating factors I see in edge computing:

  1. It simply does not exist without the hybrid cloud.
  2. The foundation of edge computing must be open or it will fail.

Cloud environments, data centres and edge devices are all incredibly different footprints, each with unique needs around management, security networking and more.

Cloud operators need a common foundation to span these diverse environments, just as they did to connect different cloud deployments, virtualized environments and hardware stacks. That common foundation was, is and will always be Linux and Linux containers.

For cloud operators, Linux provides the linkage between each footprint of the open hybrid cloud, including edge. Being able to move workloads from the edge to the data centre to the public cloud without having to completely change each application is vital and made possible only through the open standards of the Linux kernel. Linux underpins the hybrid cloud, and it’s also the foundation of the furthest edge of enterprise IT.

Evolution is more than changing out software tools

Being a cloud operator, however, is about more than adopting and integrating new core technologies. It’s about understanding what’s needed above and beyond these technologies to further expand your cloud operations at scale, as well as gaining the skills internally to fully build, manage, maintain and secure these expanded environments.

Successfully deploying the underlying platforms for an open hybrid cloud strategy is one thing, but it brings more challenges: security, compliance, networking and management.

A cloud isn’t a static deployment; it will change and it needs to change to adapt to dynamic business needs and market demands. Understanding what your specific deployment requires now (and will require in the future) is a key to success for CIOs as cloud operators.

Finally, cloud operators need the skills internally to actually run their clouds, whatever definition of the term they choose to apply. Traditional IT skill sets will always be in demand, but it’s equally as important to nurture teams to learn and master new technology platforms as they build up an internal catalogue of tools and best practices that are vital to future success. A cloud operator building for sustainable success can’t outsource everything – some things you need to learn to do yourself.

The new data centre is the hybrid cloud, composed of bare-metal servers, virtualized environments, edge devices and potentially hundreds (or more) cloud services. CIOs are the newly-minted operators of these complex, vast cloud footprints, and they need the platforms, tools, processes and people to operate across these clouds.

Just as Red Hat was ready to help every company become a software company, we’re here to help CIOs adapt to the new world of cloud operations. The future is hybrid, and so are we. – FOCUS May 30, 202

Paul Cormier is the president and CEO of Red Hat.

TESSA have no positions in any of the stocks mentioned. Trade at your own risk. All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action.

Don’t forget to visit us here:

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Khai Bahar – LULUH

MONEY TALKS

Foxconn in talks to buy stake in DNeX — sources. Seriously?

TRADING IDEAS

RHB Retail Research Technical Analyzer 27-May-21

MIECO (5001) Outlook: Pending Breakout MYR0.54 Levels: MYR0.565, MYR0.60 Exit: Below MYR0.51 (time frame: 2-4 weeks) KEYASIC (0143) Outlook: Breakout MYR0.16 Levels: MYR0.18, MYR0.20 Exit: Below MYR0.145 (time frame: 2-4 weeks) BIOHLD (0179) Outlook: Breakout MYR0.22  Levels: MYR0.24, MYR0.26 Exit: Below MYR0.21 (time frame: 2-4 weeks) MPAY (0156) Outlook: Breakout MYR0.20 Levels: MYR0.22, MYR0.23 Exit: Below MYR0.18 (time frame: 2-4 weeks).

TESSA have no positions in any of the stocks mentioned. Trade at your own risk. All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action.

Don’t forget to visit us here:

https://tjrevs.blogspot.com/

Ellie Goulding – Your Song

TECH

Hi Folks!

Simplicity is about subtracting the obvious and adding the meaningful.

Tori Amos – Concertina

Newly-launched Asia Digital Bank aims to become world’s leading digital asset operator

BERNAMA KUALA LUMPUR (May 26): Asia Digital Bank Ltd (ADB), a wholly-owned subsidiary of Chinese state-owned Asia Pacific Investment Bank (APIB), is striving to become the world’s leading digital asset operator.

Chief executive officer Chris Wang said this could be achieved through the development of an inclusive financial service platform for digital asset transactions, with advance digital financial technology as its core.

He said ADB will continue to play its part in contributing towards the development of communities’ well-being in both Malaysia and China, as well as for the advancement of the global digital economy.

By making use of leading financial technology platforms, he said ADB would construct a self-financing servicing ecosystem with the help of leading financial technologies and spearhead industrial alliances.

Officially launched virtually today, ADB has obtained the first digital banking licence for investment bank from the Labuan Financial Services Authority (LFSA) in November 2020.

Meanwhile, LFSA deputy director-general Datuk Iskandar Mohd Nuli said the official launch of ADB would spark a new vitality towards the innovation of Malaysia’s digital finance industry.

He noted that LFSA has been striving to promote Labuan to become a competitive and high value-added global financial service hub.

He also hopes that there would be more financial institutions like ADB to participate in the development of a financial hub in Labuan, as well as in Malaysia.

Frank Sinatra – On the Road to Mandalay

The great myth of our times is that technology is communication. Hmm.

Building trust: The cornerstone to digitalising global economy

Chen Lifang – IN recent months, the world has faced an exceptional challenge A pandemic swept the globe and affected almost every area of our lives. Our freedom to travel, work, and play as we did before was radically altered.

The way in which the economy operates was also profoundly affected. Remote working became the norm almost overnight. Indeed, all forms of digitalisation accelerated sharply. The significance of this digitalisation of the economy cannot be understated.

The new norm has placed added value and emphasis on building and maintaining trust, which provides the basis of collaborative action and innovation. Indeed, the trust that links us all now matters more than ever. The interplay between societal norms and technology will, I think, be one of the key drivers of economic growth over the next decade.


Drawing clear and distinct boundaries

This interface is embodied in two ways.

The first is between society and technology, reflecting how we choose to regulate digital technologies and their uses. Digital technologies have an incredible potential to drive economic growth of the world for decades, but unregulated use of these technologies would not be conducive to long-term prosperity and freedom.

Accordingly, Governments and regulators worldwide are working together to build principles guided legislative frameworks which would allow and encourage appropriate developments and uses of technological innovations.

As our economies become more digitalised, they generate vast lakes of data that must be transmitted, stored, processed and retrieved. The regulations that allow this technology to be implemented efficiently and effectively are essential but should be made objectively and evolve rapidly.

There is much discussion on the right approach to adopt. Yet, given the issues at stake, regulators and Governments need to move quickly to avoid being left behind by innovation. In this regard, Germany’s recent IT Security Act 2.0 presents an excellent step forward. It provides a clear legal framework and sound basis for further improving the IT security of critical infrastructure. For 5G development, this means that there will be higher and more uniform security standards for all providers. This clarity is a crucial component to build trust.

In February, the Malaysian Government announced the Malaysia Digital Economy Blueprint or MyDigital. MyDigital serves as an action plan to outline efforts and initiatives to realise the country’s vision to become the regional lead in digital economy, as well as to achieve inclusive, responsible and sustainable socioeconomic development.

The blueprint highlights the importance of building digital trust and cyber resilience, as well as a trusted, secure, and ethical ecosystem as key pillars to drive forward Malaysia’s digital goals. This will enable all players in the economy to embrace digitalisation to improve their quality of life.

The second way in which we can see this interface between society and technology is in the standards that we adopt. The global economy is interconnected to an extent that would have seemed unimaginable a generation ago. A generation from now, the global economy will be even more enmeshed. The success of this new global economy will be built on common standards.

Indeed, not only is the establishment of standards conducive to the formation and development of markets, but it is also a key factor in consumer protection. Without competitors, a company like Huawei might be better off. But if all products were to use Huawei’s proprietary technology, it would be an absolute disaster for consumers. Standards force manufacturers to compete with each other on technological terms.

From the earliest days of technology, growth has been driven by the almost universal adoption of technological standards. The 2G standard brought us voice and text services, the 3G standard gave the world the mobile internet, and 4G has given us data-rich services and streaming content on mobile devices. 5G is adding yet further possibilities to the economy, with competition remaining high.

Building trust for wider adoption

Standards and regulations are two highly visible embodiments of the interaction between society and technology, and they share two characteristics that are fundamentally important. The first is that they build trust. The second is that the more widely they are adopted, the more effective they become.

Digital economy will continue to change the way we interact and trade with each other. When international trade was developing, it required our ancestors to acquire new technical skills and form new ways of trusting their partners. So does the digital economy for today. It will affect the way in which people interact with each other and build trust with commercial interests.

Common regulations across the globe are an essential part of building this trust. As our economy becomes increasingly digital and data-driven, the regulations on technology governance and data uses will be critically and strategically important to global trade. Building trust is essential, and the best way to build trust between people is by establishing common ground.

Take Malaysia as an example. The MyDigital initiative is aimed at encouraging widespread adoption and trust in technology. In doing so, it will encourage businesses and society to fully reap the benefits of technology without compromising on data safety, reliability or ethical standards. Its framework has spelled out the need for a holistic ecosystem, such as a regulatory framework and cybersecurity capabilities.

Malaysia’s proactive steps to strengthen its cybersecurity ecosystem has borne fruit. The country has been consistently ranked among the top 10 countries in the world for commitment to cybersecurity since 2014, and was second in the Asia Pacific region behind Singapore in 2018.

When we say “trust matters”, we are not just referring to trust in our commercial partners: Users also have to trust the technology that they use. The knowledge that a technology is properly regulated is an important first step towards trusting that technology. However, only common rules that are widely shared can build the trust that technology needs to be adopted.

Global technical standards are also critically important to building trust because they allow services and products to be deployed to a broader market more easily. As a result, people could rely on technological innovations operating across borders without hindrance. A certain proportion of success of the European Union has been built on the operation of its internal market.

Tackling the challenge of data sovereignty

The success of economic development in a digital age depends on widespread adoption of both regulations and standards. If a regulation is adopted and implemented unilaterally, then some companies may simply avoid trading with or in the country concerned. As all parts of our global economy become increasingly closely interlinked, our efforts to find the best path to regulatory success must become increasingly global.

In particular, our increasingly digital and mobile economy demands a focus on security related trust and dialogue. We must ensure that digital and cyber sovereignty are mutually respected, that user privacy and security are respected, and that data is allowed to flow across borders in a secure and orderly manner.

Presenting an excellent step forward in addressing the challenge of data sovereignty, Huawei Malaysia and telecommunications company Telekom Malaysia (TM) are currently working together to offer localised end-to-end Cloud infrastructure and services to enterprises and Government institutions through Cloud TM One Alpha Edge. Through the collaboration with Huawei, the infrastructure is reinforced with the most advanced cybersecurity practices and technologies, to ensure that data in the Cloud is stored safely and locally in Malaysia.

Technical innovation, increased digitalisation, and increased product complexity are all driving increased collaboration between economic partners. In turn, this will drive further increases in the economic importance of the secure transmission of data. These data flows are the supply chains of the digital economy of the future, and we must make conscious efforts to protect them.

Just as global supply chains have lifted millions out of poverty, data-driven value chains in the digital economy will make a vast contribution to global prosperity. At a time when trust matters more than ever before, Huawei is proud of its contribution to a prosperous digital future. Indeed, the company is a particularly active contributor to the creation and adoption of the global digital and regulatory standards that are so crucial to building this trust. These regulations and data standards will not only ensure that the post-pandemic economy continues to recover in a way that allows the global society to build a resilient and prosperous economy, but they will also allow the benefits of this prosperity to be distributed as widely as possible.

When the pandemic arrived, closing international borders and public venues of all kinds may have brought a terrible temptation to adopt narrow nationalist attitudes, but we seem to have resisted this temptation very well. As our society now begins to reopen and to move into the post pandemic economy, we are all keenly aware of just how much trust matters.

The global focus now needs to be on driving widespread adoption of truly common technical standards, and regulatory and legal frameworks that reflect nations’ specific values and norms. The adoption is essential to unlock the economic growth that will meet the needs of global economy in the upcoming years.

These common principles will form the bedrock of trust on which we will build our joint efforts to innovate and grow. This trust will be the foundation of our common success. – FOCUS May 25, 2021.

Earth, Wind & Fire – Fantasy

When I was your age, television was called books. LOL

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MONEY TALKS

Good Morning Folks!

Hibiscus Petroleum Bhd’s net profit rose 12.52% to RM32.03 million for 3QFY21 ended March 31, 2021, from RM28.47 million a year ago, on improved oil prices. Its quarterly revenue grew 22.81% to RM215.98 million from RM175.86 million.

Walk off the Earth – How It Is

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Loosen Up

Chill out, relax and have an open mind.

Rain Dogs, Sweden: One More Cup of Coffee (Bob Dylan)

CORPORATE NEWS

EDGE KUALA LUMPUR (May 21) : Based on corporate announcements and news flow today, companies that may be in focus on Monday (May 24) include Widad Group Bhd, IOI Corp Bhd, Pharmaniaga Bhd, Pecca Group Bhd, Inari Amerton Bhd, Alam Maritim Resources Bhd, JAKS Resources Bhd and ATA IMS Bhd.

Widad Group Bhd’s wholly-owned subsidiary Widad Builders Sdn Bhd has secured an RM129.4 million contract from the Kedah State government to upgrade the Bukit Selambau water treatment plant in Kuala Muda, Kedah. Widad Group said the project is expected to contribute positively to the earnings and net assets of Widad Group and its subsidiaries over the duration of the project.

IOI Corp Bhd’s net profit skyrocketed to RM401.3 million in its latest financial quarter ended March 31, 2021, from RM100,000 in the corresponding financial quarter last year. Its quarterly revenue grew by 41% to RM2.86 billion from RM2.03 billion last year.

Pharmaniaga Bhd’s net profit for the first quarter ended March 31, 2021 rose 3.3% to RM23.14 million from RM22.4 million a year earlier, on the back of lower finance cost. Earnings per share increased to 8.84 sen from 8.57 sen. Revenue, however, declined 3.22% to RM793.5 million from RM819.92 million prevously, due to lower demand from the Indonesian business amid the Covid-19 pandemic. The pharmaceutical company declared an interim dividend of four sen per share, to be paid on July 6.

Pecca Group Bhd’s net profit for the third quarter ended March 31, 2021 leapt nearly 24 times to RM8.05 million, from RM341,0000 a year earlier, on stronger contributions from automotive leather car seat cover sales and a growing healthcare segment. Earnings per share swelled to 4.39 sen from 0.19 sen. Quarterly revenue jumped to a record RM42.5 million, up 83.22% year-on-year from RM23.2 million.

Inari Amerton Bhd saw its net profit for the third quarter ended March 31, 2021 leap 33.72% to RM81.95 million from RM35.06 million a year earlier, on higher revenue and recognition of deferred tax assets. The semiconductor maker said quarterly revenue increased 41.38% to RM342.93 million from RM242.57 million previously, largely due to higher contribution from its radio frequency (RF) business segment. The group declared a third interim dividend of 2.2 sen per share, and a special dividend of 1.8 sen per share, to be paid on July 8.

Alam Maritim Resources Bhd and its wholly-owned subsidiary Alam Maritim (M) Sdn Bhd today secured the required court orders to facilitate the group’s restructuring plan by way of a scheme of arrangement with its creditors. The orders were granted pursuant to Section 366 of the Companies Act 2016, which is a statutory mechanism that provides relief for companies to propose a compromise with its creditors instead of being wound up.

JAKS Resources Bhd posted a net profit of RM19.75 million for its first quarter ended March 31, 2021 versus a net loss of RM6.22 million in the corresponding quarter a year ago. Quarterly revenue, however, plunged 76.8% to RM17.45 million from RM75.22 million a year before due to the absence of revenue contribution from the Vietnam engineering, procurement and construction construction work, as it reached the tail end of the project, as well as the reimposition of the Movement Control Order in January 2021, which resulted in work delays and supply chain disruptions.

ATA IMS Bhd today reiterated its claim that it does not practise any form of forced labour in its operations, after a prominent migrant worker rights specialist said the US authorities would investigate the company regarding the matter. The electronic manufacturing services provider said that as of today, it has not received any communication from the US Customs and Border Protection, or any other similar government authority, on the forced labour allegation.

TESSA have no positions in any of the stocks mentioned. Trade at your own risk. All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action.

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MONEY TALKS

Good Morning, Folks. Hard times don’t create heroes. It is during the hard times when the ‘hero’ within us is revealed.

Bursa Trade Statistics (May 20):Local Institutions (43.7%): -RM84.8m. Local Retail (39.2%): +RM25.9m. Foreign (17.1%): +RM58.9m.

TRADING IDEAS

UOBKH Retail Market Monitor 21 May 2021

1) TALIWRK (8524); Technical BUY on Breakout (RM 0.865) with +12.1% potential return  *Last: RM0.85 Target: RM0.925, RM0.97 Stop: RM0.82*Timeframe: 2 weeks to 2 months *Syariah: YES
2) SMCAP (9776); Technical BUY with +39.1% potential return  *Last: RM0.32 Target: RM0.405, RM0.445 Stop: RM0.26*Timeframe: 2 weeks to 2 months*Syariah: YES
3) K1 (0111); Technical BUY with +41.9% potential return  *Last: RM0.31 Target: RM0.405, RM0.44 Stop: RM0.26*Timeframe: 2 weeks to 2 months*Syariah: YES

TESSA have no positions in any of the stocks mentioned. Trade at your own risk. All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action.

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