Internal controls

- A + A KUALA LUMPUR (June 30): Former Prasarana Malaysia Bhd group chief finance officer (CFO) Datuk Mohd Zahir Zahur Hussain has been appointed as an independent non-executive director of Mycron Steel Bhd. Mohd Zahir, 46, served as Prasarana’s CFO from Jan 2012 to Sept 2015. He has an established career as an auditor with various accounting firms including PricewaterhouseCoopers and Deloitte & Touche, both at their Malaysia and overseas offices, Mycron said in a filing. Mohd Zahir also served as the Tracoma Holdings Bhd’s CFO, a company focusing on the manufacturing of automotive components, before being appointed as the audit director for Baker Tilly Monteiro Heng, sixth largest accounting firm in the world. He then assumed the role of head of fund operations for CIMB-Principal Asset Management (CPAM), where he helped obtain global investment performance standards and improved the company's internal control and processes. He was subsequently promoted as … [Read more...] about Former Prasarana CFO Mohd Zahir joins Mycron Steel as director

Big Bazaar retail chain Singapore International Arbitration Centre on June 28 dismissed Future's plea seeking termination of arbitration proceedings between the group and American e-commerce major Amazon. The Kishore Biyani-led group had sought termination of arbitration on the grounds that the investment deal between its Future Coupons Pvt Ltd (FCPL) and Amazon no longer enjoyed the Competition Commission of India's approval. The CCI in December 2021 passed an order keeping its approval for the deal in abeyance noting that Amazon had failed to divulge its strategic interests in the Future group's retail business. Future group based its plea for terminating arbitration proceedings on CCI's order and argued that without CCI's approval, the deal would be rendered invalid and the arbitration proceedings emanating from the underlying agreement ought to be terminated. As per sources close to the development, SIAC rejected the plea for termination of arbitration noting that … [Read more...] about Singapore panel rejects Future plea to terminate arbitration proceedings with Amazon

China's President Xi Jinping speaks upon his arrival via high-speed rail, ahead of the 25th anniversary of the former British colony's handover to Chinese rule, in Hong Kong, China June 30, 2022. - A + A HONG KONG (June 30): Hong Kong has overcome its challenges and "risen from the ashes", China's President Xi Jinping said on Thursday, as he arrived in the former British colony to celebrate 25 years since its return to Chinese rule. Xi is to swear in the global financial hub's new leader, John Lee, on Friday during his first visit to the city since 2017, which is also his first known trip outside the mainland in more than two years, amid the Covid-19 pandemic. Wearing masks, Xi and his wife, Peng Liyuan, stepped off a high-speed train to be greeted by children waving flowers and Chinese and Hong Kong flags who chanted, "Welcome, welcome, warmly welcome" in Mandarin. "Hong Kong has withstood severe tests again and again, overcoming challenges one by one," Xi … [Read more...] about Hong Kong has ‘risen from the ashes’, China’s Xi says on rare visit

- 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

President Xi Jinping talks on Tuesday with community workers, Party members and volunteers during an inspection tour of Wuhan, the capital of Hubei province, and hears about local efforts in the prevention and control of COVID-19 outbreaks. | XINHUA via China Daily/Asia News Network BEIJING — President Xi Jinping has reiterated that the dynamic zero-COVID policy has proved to be “correct “and “effective” in the nation’s response to COVID-19 outbreaks, saying that the “herd immunity “approach would cause unimaginable consequences in such a populous country as China. Xi, who is also general secretary of the Communist Party of China Central Committee, made the remarks on Tuesday during an inspection tour of Wuhan, the capital of Hubei province. The city reported the first case of COVID-19 in China. He visited a residential community and a high-tech enterprise in Wuhan, and highlighted the importance of coordinating the COVID response and socioeconomic development, as well as … [Read more...] about Xi Jinping: China’s dynamic zero-COVID policy works

Flying Fourth of July weekend or later this summer? Pack your patience and this game plan. Y ou know travelers are in for a bumpy Fourth of July weekend when airlines and the U.S. government begin pointing fingers at each other in the days ahead of the holiday. For months, travelers have been dealing with above-normal levels of flight delays and cancellations, with airlines chopping more than 15% of scheduled summer flights due to staffing shortages and other operational issues. Unfortunately, experts see more of the same on the horizon. “Looking at the past few weeks, I don't think there's any reason to think that things are going to go especially smoothly this weekend,” says Scott Keyes, co-founder of Scott’s Cheap Flights , an airfare deals newsletter with more than two million subscribers. “With 11 million travelers expected to fly over July Fourth, we are expecting a busy holiday weekend and travelers should be prepared for potential disruptions,” says Hayley … [Read more...] about The Smart Traveler’s Survival Playbook For Summer Flight Cancellations

Thailand is planning on streamlining the proof of vaccination process by offering an e-vaccine passport for free for international travellers. The CCSA announced the plan as one of the topics covered in their meeting today which also saw the elimination of Dark Red Zones and curfews, as well as a switch from RT-PCR tests for entering tourists to the faster, cheaper antigen tests . The decision was made to offer a digital version of the vaccine passport that are currently issued at a charge of 50 baht, though the date from which the e-passport will be available has yet to be determined. When the programme does launch though, the digital vaccine passport will be available through the Mor Prom mobile application. The CCSA made the announcement but also issued a warning at the same time, reminding travellers to check in advance the requirements for whatever country they plan on travelling to and confirm that their destination accepts an electronic vaccine passport or if a … [Read more...] about Vaccine passport soon to be made digital and issued for free