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- A + A KUALA LUMPUR (Aug 9): Apple has partnered with Ambank, Maybank and Standard Chartered Malaysia to offer its mobile payment services to Malaysian customers. “Customers with Visa and Mastercard cards from banks including AmBank, Maybank and Standard Chartered Bank can now use Apple Pay, with American Express cards to be available with Apple Pay later this year,” the consumer electronic company announced on its website on Tuesday (Aug 9). "Merchants such as KFC, Maxis, Machines, McDonald’s, Mydin, Pizza Hut, Starbucks, U Mobile, Uniqlo, Village Grocer and Watsons — and apps and websites including Shopee, Sephora, Atome and Adidas — now offer customers the ability to pay with Apple Pay." Apple’s vice president of Apple Pay and Apple Wallet Jennifer Bailey said the company is delighted to bring Apple Pay to Malaysia, providing an easier, safer and more secure way to pay with iPhone, Apple Watch, iPad and Mac. “Our customers in Malaysia will benefit from using … [Read more...] about Apple jumps onto Malaysia’s mobile payment bandwagon

- A + A MOSCOW (Aug 9): The rouble firmed towards 60 against the U.S. dollar on Tuesday, retaining support from capital controls and high prices for oil, Russia's key export, while stock indexes were mixed as the market lacked momentum. At 0738 GMT, the rouble was 0.6% stronger against the dollar at 60.40, trading in a range between 59 and 62 for the sixth day in a row. Against the euro, the rouble firmed 1.2% to 61.48 , well above the record low of 132.42 it hit days after Moscow sent tens of thousands of troops into Ukraine on Feb. 24. The rouble is the best-performing currency so far this year as it received a boost from the capital controls Russia imposed to shield its economy and the financial system from sweeping western sanctions. However the rouble may gradually weaken in the near term given the lack of news triggers and the fact that the monthly tax payment period that usually boosts demand for the currency will only start later in August, analyst at … [Read more...] about Russian rouble firms towards 60 vs dollar, stocks mixed

- A + A (Aug 9): China’s top auditor is conducting a review of the US$3 trillion trust industry, paving the way for a potential overhaul of a key shadow banking sector where losses on property loans are mounting. In an unscheduled move, the National Audit Office — which previously led an examination of bank exposures to Jack Ma’s Ant Group Co — has for the past month been inspecting the books of at least 20 trust firms, including the top five, to gauge the risks they pose to financial stability, according to people familiar with the matter. The firms are being asked to report on their risky loans to developers and any plans to dispose of them, the people said, asking not to be named as they’re not authorised to speak publicly. The audit office is expected to submit its conclusions to policy makers in Beijing, who may decide on the future reforms of the sector, the people said. While it is unclear what regulatory action the scrutiny will spur, the move illustrates … [Read more...] about China orders surprise audit of US$3 trillion trust industry

Indonesia coal benchmark price COAL-HBA-ID has stayed above US$70 per tonne level since January 2021 but surged to a record US$321.59 per tonne this month, as the war in Ukraine exacerbated the energy supply crunch. - A + A JAKARTA (Aug 9): Indonesian legislators on Tuesday pressed the government to tighten rules on domestic coal sales, amid concern that miners will choose to pay fines instead of meeting a requirement to sell a quarter of their output to local power generators. The parliamentary energy committee met during recess on Tuesday, fearing the world's biggest thermal coal exporter was headed for a repeat of a domestic supply crisis late last year that saw exports banned for a few weeks in January, triggering panic among foreign buyers. Indonesia imposes a so-called Domestic Market Obligation (DMO) where miners must sell 25% of their output onshore, at prices capped at US$70 per tonne for power generators and US$90 per tonne for local industry. Though … [Read more...] about Indonesia lawmakers call for tougher rules to avert another coal crisis

- A + A BEIJING/SYDNEY (Aug 9): China's aviation regulator is seeking industry feedback on special conditions for the home-grown C919 aircraft, it said on Tuesday, in a sign that certification of the narrow-body jet designed to rival Airbus and Boeing is edging closer. In dozens of technical documents, the Civil Aviation Administration of China (CAAC) has set out special conditions for the C919 in areas like flight envelope protection and flight operations under icing conditions, according to a statement on its website. Special conditions are additional airworthiness standards prescribed by the regulator when current regulations do not contain adequate or appropriate safety standards due to novel or unusual design features. Aviation regulators in the United States and Europe also regularly issue such conditions on new Airbus and Boeing jets as part of the certification process. The CAAC has invited public comment on the C919 special conditions over the next 15 … [Read more...] about China seeking industry feedback on home-grown C919 jet as certification nears

Heavy fighting was reported on Tuesday in frontline towns near the eastern city of Donetsk, where Ukrainian officials said Russian troops were launching waves of attacks as they tried to seize control of the industrialised Donbas region. - A + A KYIV (Aug 9): Russia unleashed ground forces, air strikes and artillery as it pressed ahead with a grinding offensive designed to complete its capture of eastern Ukraine, but Kyiv said its troops were putting up fierce resistance and holding the line. Heavy fighting was reported on Tuesday in frontline towns near the eastern city of Donetsk, where Ukrainian officials said Russian troops were launching waves of attacks as they tried to seize control of the industrialised Donbas region. "The situation in the region is tense — shelling is constant throughout the front line ... The enemy is also using air strikes a great deal," Pavlo Kyrylenko, governor of the Donetsk region, one of two that makes up Donbas, told Ukrainian … [Read more...] about Moscow steps up assault in eastern Ukraine as Kyiv calls for ‘ban’ on Russians

- A + A LONDON (Aug 9): The European Medicines Agency (EMA) has started a rolling review of a variant-adapted Covid-19 vaccine from Pfizer and BioNTech, it said on Tuesday. The so-called bivalent vaccine targets two strains of the SARS-CoV-2 virus behind Covid-19 — the original strain first identified in China, and the Omicron offshoots BA.4/5 that are currently behind most cases in Europe. A rolling review means the EMA assesses the data as it becomes available, and the process continues until there is enough data for a formal marketing application. Last month, the EMA said it had begun a rolling review of another version of the companies' shot which targets the original SARS-CoV-2 strain and Omicron subvariant BA.1. While existing coronavirus vaccines continue to provide good protection against hospitalisation and death, vaccine effectiveness has taken a hit as the virus has evolved. European Union officials plan to use bivalent shots in their autumn … [Read more...] about EU regulator begins review of Pfizer-BioNTech’s variant-adapted Covid-19 shot

- A + A KUALA LUMPUR (Aug 9): Lagenda Properties Bhd on Tuesday (Aug 9) announced it is acquiring a 422-acre land in Perak for RM92.4 million cash. Taraf Nusantara Sdn Bhd — a wholly owned subsidiary of Blossom Eastland Sdn Bhd, which is in turn wholly owned by Lagenda — entered into a conditional sale and purchase agreement with Ladang Awana Sdn Bhd in relation to the proposed acquisition. The exercise involves 42 block titles of development and agricultural land, all located within Mukim Durian Sebatang, in the Hilir Perak district of Perak. In a Bursa Malaysia filing, Lagenda said the land is adjoining Lagenda Teluk Intan, a master planned ongoing affordable township development by the group, and is strategically located about 4km off West Coast Expressway (WCE) to its west. Geographically, the Teluk Intan town centre is located approximately 7km due north of Lagenda Teluk Intan. “The proposed acquisition is undertaken to acquire the subject lands which are … [Read more...] about Lagenda Properties to acquire 422-acre land in Perak for RM92m cash

- A + A KUALA LUMPUR (Aug 9): Messrs Mazars PLT has been appointed as the new external auditor of Gabungan AQRS Bhd with effect from Aug 11. Gabungan AQRS said in a bourse filing on Tuesday (Aug 9) that it is of the view that a change in auditor who has served the company for almost 12 years is necessary to heighten corporate governance. Last month, Gabungan AQRS Bhd announced that it has received a notice in writing from its former auditor Messrs BDO PLT on its resignation as auditor of the construction firm and that BDO’s term of office would end after 21 days from July 21. Gabungan AQRS said it has selected Mazars as the new external auditor based on its experience, capability and resources. The selection criteria include the experience of the firm in auditing construction and property development companies, the support services that can be offered by the firm in particular, in taxation and the availability of the firm’s resources. “Gabungan AQRS believes, … [Read more...] about Messrs Mazars PLT appointed as Gabungan AQRS’ new auditor

- A + A KUALA LUMPUR (Aug 9): KLCC Stapled Group's net profit for the second quarter ended June 30, 2022 (2QFY22) rose 14.69% to RM165.18 million, from RM144.01 million a year ago, as revenue grew 25% to RM350.31 million from RM280.17 million. The group declared interim dividends comprising 0.99 sen and 7.01 sen relating to KLCC Property Holdings Bhd and KLCC REIT respectively for 2QFY22, totalling eight sen per stapled security, to be payable on Sept 28. These brought KLCC Stapled Group's total income distribution to 16 sen for the first half of FY22. The group said in a Bursa Malaysia filing on Tuesday (Aug 9) that the improved year-on-year performance was mainly due to a better performance of its retail segment, driven by lower rental assistance and higher advertising income. In a separate statement, it stated that Suria KLCC and the retail podium of Menara 3 Petronas, which represent the retail segment, saw a 46.4% increase in revenue to RM125.2 million. The … [Read more...] about KLCC Stapled Group’s 2Q net profit rises 15% to RM165 mil, declares eight sen dividends