Share to Twitter Share to Linkedin Vicki Tambellini is the CEO and founder of Tambellini Group , an independent higher education research and advisory firm. The prevalence of data breaches and the damage they cause has driven many businesses, nonprofits and government agencies to invest heavily in cybersecurity insurance policies to help protect themselves. Recent Global Data research (paywall) estimates worldwide cyber insurance sales at $7 billion, with projected growth to $20 billion in annual sales by 2025. According to an independent 2020 survey of 5,000 IT managers across 26 countries, 84% reported having cyber insurance. While organizations are spending more to minimize the cost of a direct targeted attack, significant risk remains from using third-party vendors to handle and store sensitive data. A Ponemon Institute and Secure Link report found that over half of organizations experienced data breaches because of an attack on a … [Read more...] about Reading The Fine Print: Protecting Your Organization From Vendor Cyberattacks
Business recovery and insolvency
- A + A KUALA LUMPUR (Nov 29): AirAsia X Bhd (AAX) has proposed to acquire Capital A Bhd’s aviation arm through AirAsia Bhd (AAB) and AirAsia Aviation Group Ltd (AAAGL), as part of its regularisation strategy to uplift itself from Practice Note 17 (PN17) status. This confirmed The Edge weekly report on Nov 7, quoting sources, that the low-cost carrier AirAsia may merge with its medium-haul affiliate AAX as part of the restructuring of Capital A, which is also a PN17 company. In a statement on Tuesday (Nov 29), AAX said it is formulating a regularisation plan that involves the merger with AAB and AAAGL, which has shareholdings in AirAsia Indonesia, AirAsia Philippines and AirAsia Thailand, as part of the carrier's bid to uplift its PN17 status. “Following the acquisition, AAB, AAAGL and AAX will form a consolidated aviation group, subject to the approval of our stakeholders and relevant regulatory authorities,” said AAX chief executive officer Benyamin Ismail. … [Read more...] about AirAsia X seeks to merge with Capital A’s aviation arm AirAsia, confirms The Edge report
Share to Twitter Share to Linkedin Topline Demonstrators have taken to the streets across China in opposition of the country’s strict zero-Covid policy, one of the greatest public shows of defiance against the ruling Communist Party in decades as President Xi Jinping defends the increasingly unsustainable strategy in light of rising cases, mounting public discontent and ongoing economic harm. Key Facts Zero-Covid—more fully, “dynamic zero Covid”—is Beijing’s signature pandemic policy and is centered around stamping out the virus rather than just keeping it at bay. The regime, one of the world’s toughest, uses strict lockdowns, isolation (possibly in government facilities) and mass testing in areas where cases have been reported. China’s approach is so strict that entire cities housing millions of people have been locked down over a few Covid cases, with reports of shoppers and workers fleeing stores and factories to avoid being locked … [Read more...] about China’s Zero-Covid Strategy: What Is It, Why Are People Protesting And What Comes Next?
- A + A (Nov 29): Thailand will levy a tax on stock transactions for the first time in more than 30 years as the Southeast Asian nation taps new revenue streams to fund post-pandemic recovery measures. A levy of 0.05% will be imposed on stock trading next year, before it’s raised to 0.1%, according to a finance ministry statement. Some investors such as market-makers and pension funds will be exempted from the tax, the ministry said. The transaction tax was approved by the cabinet on Tuesday and will come into effect 90 days after it’s notified in the Royal Gazette. The country had waived the tax in January 1992 to help promote equity trading. The benchmark Stock Exchange of Thailand index pared gains in the afternoon trading session. The value of average daily stock trading in Southeast Asia’s second-biggest economy has surged about tenfold to 80 billion baht (US$2.3 billion) in the past three decades as more retail investors turned to the market for better … [Read more...] about Thailand to tax stock trading from next year as volume surges
- A + A KUALA LUMPUR (Nov 29): PPB Group Bhd’s net profit for the third quarter ended Sept 30, 2022 (3QFY2022) jumped 92.38% to RM784.75 million from RM407.91 million in the same period last year, on improved revenue contribution from all of its key segments including its 18.5%-owned Singapore-listed Wilmar International Ltd. The contribution from Wilmar expanded to RM733 million in the quarter under review compared with RM432 million a year ago, according to its filing with Bursa Malaysia. Quarterly revenue climbed 39% to RM1.65 billion from RM1.19 billion in the same period a year earlier. Earnings per share swelled to 55.16 sen from 28.67 sen. For the first nine months ended Sept 30 (9MFY2022), PPB’s net profit grew 79.3% to RM1.78 billion from RM993.57 million, as cumulative nine-month revenue grew nearly 38% to RM4.54 billion from RM3.29 billion. Looking ahead, PPB observed that grain commodity prices remain volatile, being affected by lingering effects of … [Read more...] about PPB 3Q net profit jumps 92% driven by sharply higher contribution from Wilmar
- A + A KUALA LUMPUR (Nov 29): Convenience store operator 7-Eleven Malaysia Holdings Bhd’s net profit swelled more than nine-fold to RM13.66 million for the third quarter ended Sept 30, 2022 (3QFY2022), from RM1.44 million a year earlier. In the same period last year, the country was still transitioning out of a full movement control order to the initial phases of the National Recovery Plan. As a result, earnings per share rose to 1.21 sen from 0.13 sen, according to the group’s Bursa Malaysia filing on Tuesday (Nov 29). Revenue for the quarter surged 45.28% to a record high of RM988.21 million from RM680.22 million in 3QFY2021, carried by higher revenue contributions from both its convenience store and pharmaceutical segments. With this, the group has posted back-to-back record-high quarterly revenues following the prior record-high it posted for 2QFY2022 of RM943.67 million. “The convenience store segment recorded higher APSD (average per store day) and … [Read more...] about 7-Eleven’s 3Q earnings up more than nine-fold to RM14m
Share to Twitter Share to Linkedin For years now, economists have debated whether the Bank of Japan’s ultraloose policies were a loser, figuratively speaking. Now we have proof of the literal losses from Governor Haruhiko Kuroda’s team. As of the end of September, the BOJ was at least $6.3 billion in the red on its massive stockpile of Japanese government bonds. This is the first time in the Kuroda era that began in March 2013 that the BOJ announced a loss on assets it’s been hoarding. That, not surprisingly, has investors wondering the extent to which the BOJ’s stock purchases, via exchange-traded funds, might be under water, too. Yet this is a logical moment to take stock of where Kuroda succeeded and failed in his charge to end deflation and revive Japan’s animal spirits. The grade isn’t great. It’s complicated, of course. And it’s worth noting that Kuroda, whose term ends in April, was true to his word that he’s doing what he could to put the … [Read more...] about Bank Of Japan’s $5 Trillion Bet Is Going Awry In A Hurry