Boeing top customers

- A + A KUALA LUMPUR (June 30): Telekom Malaysia Bhd (TM) has inked two collaboration agreements with Cisco International Ltd to co-invest in projects for 5G innovation and the digital acceleration of small and medium enterprises (SMEs). The partnership is part of Cisco’s Country Digital Acceleration (CDA) programme, which is a strategic partnership with governments worldwide to accelerate their national digitalisation agendas. “The programme taps on the power of private and public partnerships across a variety of sectors, including national infrastructure, education, and smart businesses and communities, to bring digital solutions to national challenges,” Cisco said in a statement. TM said the partnership with Cisco focuses on three key pillars: digital transformation in the public sector — specifically education, which will be launched at a later date — digital transformation for service providers that focuses on 5G innovation, and digital transformation for … [Read more...] about TM partners Cisco to accelerate 5G innovation, digital acceleration of SMEs in Malaysia

- A + A KUALA LUMPUR (June 30): Bank Negara Malaysia (BNM) must continue to cooperate with the Malaysian Anti-Corruption Commission (MACC) and the financial sector to coordinate efforts in combating corruption and financial scams. In making the call, MACC chief commissioner Tan Sri Azam Baki said this would also create public awareness that is more effective and appropriate in view of the latest scam tactics. According to him, besides ensuring more effective preventive measures by financial institutions, the efforts would provide support to recover the embezzled funds as well as enable effective investigations by the law enforcement agencies involved. “Financial institutions are always exposed to fraud and money laundering which make them a safe place or as a conduit to hide, deal and ‘clean’ the money from illegal activities. "The criminals are becoming more creative in finding the weaknesses to beat the customer due diligence that has been implemented, and … [Read more...] about BNM, MACC and financial sector must continue to cooperate to combat corruption, financial scams, says Azam Baki

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A ALL eyes are on RHB Banking Group’s newly minted group managing director (MD) and group CEO Mohd Rashid Mohamad as he steers the fourth-largest banking group by assets forward in a tough operating landscape. “It’s very challenging, especially now in a fast-changing market environment, and as we face potential risks such as geopolitical and inflationary,” acknowledges Rashid in his first exclusive interview as group MD/CEO. Competition has intensified, given new entrants into the market, which are not just new banks but also technology companies that compete for the same pie. Rashid adds that this has partly affected the profitability of the industry, along with many other factors. He notes that banks globally no longer see “high ROEs” as before. For RHB Bank Bhd, its return on equity (ROE) in the past 10 financial years hit a high of 13.4% in FY2012 before … [Read more...] about Cover Story: RHB’s Game Plan in ‘fast-changing’ new normal

- A + A KUALA LUMPUR (June 30): MR DIY Group (M) Bhd said that while the group is trying to maintain the “low prices” of its products by continuously improving operational efficiency, it may have to raise prices in the future due to inflation. “Our intense focus is to stay true to our values about ‘always low prices’ [but] there are situations where we will have to make price adjustments,” said the group’s chief executive officer Adrian Ong. “We will do so in a very responsible way, and only to the extent that we cannot continue to keep supplier costs low,” he added at a press conference after the official opening of MR DIY PLUS at Mid Valley Megamall on Thursday (June 30). The home improvement retailer was previously reported to have raised product prices in April and May. Ong said the group offsets increases in costs by managing supply volume and emphasising operational efficiency. “For us everything we do, apart from using data, we also manage every aspect … [Read more...] about MR DIY: We will try to maintain ‘low prices’ but hikes on the cards

- A + A MOSCOW (June 30): Western fashion brands are conspicuous by their absence at a gleaming new shopping centre on the outskirts of Moscow - and customers say they scarcely miss them. Following Moscow's decision to send thousands of troops into Ukraine at the end of February, international fashion brands from Adidas to Zara have paused operations in Russia, while Nike is one of the handful to commit to a definitive exit from the market. "I am neutral on this, whether we have them or not," shopper Alexandra Moskunova told Reuters at the mall in Khovrino. "I can happily do without them." Another customer, Irina Stakhanova, said: "I only really liked H&M and another one that I can't remember. It's not that I need foreign things, I just need something that fits me and looks good, to lift the mood." There are few overt signs in the Russian capital that the mood needs lifting. Buskers sing and play, restaurant terraces spill onto the pavement and, as … [Read more...] about Moscow mall opens for Russian business after big brand exodus

Swiss chocolatier Barry Callebaut | AFP BRUSSELS — Salmonella bacteria have been discovered in the world’s biggest chocolate plant, run by Swiss giant Barry Callebaut in the Belgian town of Wieze, the firm said Thursday. A company spokesman told AFP that production had been halted at the factory, which produces liquid chocolate in wholesale batches for 73 clients making confectionaries. “All products manufactured since the test have been blocked,” spokesman Korneel Warlop said. “Barry Callebaut is currently contacting all customers who may have received contaminated products. Chocolate production in Wieze remains suspended until further notice.” Most of the products discovered to be contaminated are still on the site, he said. But the firm has contacted all its clients and asked them not to ship any products they have made with chocolate made since June 25 at these Wieze plant, which is in Flanders, northwest of Brussels. Belgium’s food safety agency AFSCA has been … [Read more...] about Salmonella found in world’s biggest chocolate plant

Photo from the Bureau of Customs MANILA, Philippines — Travelers now have the option to complete their baggage and currency declarations online after the Bureau of Customs (BOC) launched the “i-Declare system” in a bid to modernize the agency. Customs Commissioner Rey Leonardo Guerrero said Thursday that the new system seeks to streamline and digitalize BOC’s baggage and currency declaration process. “Automating the decades-old manual filing is another effort to modernize the Bureau, with the intention of integrating it with other government agencies for a more encompassing approach in providing the public with one-stop-shop service for all the governments’ clearance requirements,” Guerrero said in a statement. Under the i-Declare system unveiled on June 29, passengers have the option to complete their declaration online, in the comfort of their homes before flying, or even while en route to the Philippines. But for travelers who may not be able to do so, they can still … [Read more...] about BOC launches i-Declare system for online baggage and currency declarations

FILE PHOTO: A fish vendor at Commonwealth Market in Quezon City weighs locally sourced “galunggong” or round scad as she waits for customers on Wednesday, August 22, 2018.  INQUIRER/GRIG C. MONTEGRANDE MANILA, Philippines — Senator Manny Pacquiao on Thursday expressed disbelief over the Department of Agriculture’s (DA) announcement that it would import 60,000 metric tons (MT) of pelagic fish, raising questions as to how a country surrounded by large bodies of water can have a shortage in its fish supply. According to Pacquiao, the admission of DA Secretary William Dar that the country is experiencing fish shortage is a manifestation of the government’s inability to manage and optimize the country’s rich aquatic resource properly. “This is unbelievable. Saan ka naman nakakita ng bansang napapaligiran ng mga dagat pero nag-iimport ng mga produktong galing sa dagat? Sobrang kawawa na nga ang ating mga magsasaka dahil sa pagpasok ng napakaraming imported at smuggled na mga bigas … [Read more...] about ‘Unbelievable!’ Pacquiao hits DA’s plan to import 60,000 MT of fish

KUALA LUMPUR: Home improvement retailer MR DIY Group (M) Bhd (MR DIY) is committed to its "always low prices” slogan despite the rise in operating costs and inflation in the country. Chief executive officer Adrian Ong said the move to continue providing consumers with affordable products was data-driven, adding that it was efficient and sustainable business practices which allow the company to absorb the hike in prices. "At the same time, (the ability) to purchase in very large volume has enabled us to negotiate good terms with our suppliers which helps to keep prices low. "We, in turn, pass this benefit to our customers. That is our formula, to share the benefits (of bulk buying) with everybody," he said during a press conference after the grand opening of Mr DIY Plus at the Mid Valley Megamall here today. Ong said the newly launched Mr DIY Plus store had 200,000 visitors since its opening on May 19, 2022. Recognised for its rapid expansion, the group has set a target … [Read more...] about MR DIY continues to provide affordable prices despite economic drawback

Malaysians are finding ways to stretch their ringgit even further as the prices of consumer goods continue to increase. Fixed price retailer MR Dollar has responded with a commitment to retain prices on 10,000 of its popular products at just RM2. A subsidiary of home improvement retailer MR DIY Group, MR Dollar is known for its wide range of products offered at fixed prices. MR DIY Group marketing head Alex Goh said the company understood the struggles that people were facing in current times. “With multiple issues affecting the economy, especially the global supply chain, many retailers have been forced to raise prices. “However, by relying on stringent data analytics and leveraging the strong direct relationships we have with global manufacturers, MR Dollar is able to commit to maintaining the prices on 10,000 everyday essentials at just RM2. “This is one of the many ways we are helping Malaysians find value and stretch their ringgit further, so they have the confidence … [Read more...] about Retailer retains RM2 price for 10,000 products