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LINE, a chat app popular in Thailand, is warning users to be on the lookout for scammers who might use SMS and LINE chat to steal personal information. The app said today that recently, some scammers claimed to be company officials, and posted job announcements via SMS and Line chat. LINE said that scammers are also adding people as ‘friends’ in order to steal their personal information, and hurting people and companies involved. The app tells users they can report scammers by clicking ‘Other settings’ and ‘Report’. “…we would like to ask Line users not to click on links with unknown origin or provide personal information through online channels without checking thoroughly.” This news comes after Thai police warned the public last month not to fall for so-called ‘deepfake’ scams . A Thai deputy police spokesman warned that scammers are using deepfake technology to pretend to be police on video calls, and pressure people to transfer money to them. The spokesman, Siriwat … [Read more...] about LINE app popular in Thailand warns users, look out for scams

Key Takeaways Analysts estimate adjusted EPS of $1.48 vs. $1.69 in Q1 FY 2022. U.S. comparable sales (excluding fuel sales) are expected to rise YOY, but at less than half the pace of the same quarter a year ago. Revenue is expected to barely increase for the second straight quarter as the boost from the pandemic continues to wear off. Walmart Inc. ( WMT ), one of the world's biggest retailers, enjoyed unusually strong earnings and revenue growth during the past two years. The key driver was consumers who changed their buying patterns in several ways during the pandemic. Walmart's e-commerce sales soared as people sheltering at home boosted their shopping online. And consumers also spent more on manufactured goods as they spent less on dining out and traveling. But these pandemic-related forces are beginning to lose momentum. As a result, Walmart's growth has begun to slow sharply. Investors will be watching whether Walmart can reverse its slowdown in growth when … [Read more...] about Walmart Q1 FY2023 Earnings Report Preview

- A + A (May 18): Asian sponsors of blank-check firms are facing a tough market for initial public offerings wherever they turn, as a combination of increasing regulatory scrutiny and fading investor demand shutters the window for new listings from the US to Asia. In the past three months, at least six Asia-related special purpose acquisition companies seeking a combined $1.3 billion from US IPOs have been scrapped, according to data provider SPAC Research. Of 12 blank-check firms that have filed to go public in Hong Kong, only one has actually started trading. It’s a similar pattern in Singapore, where SPACs have stalled after three inaugural IPOs in January. “The global IPO market has obviously been very quiet so far this year,” Paul Uren, JPMorgan Chase and Co.’s Asia Pacific head of investment banking, said in an interview with Bloomberg TV. “What we need to see for that to change is lower volatility and investors with more of a risk-on mentality.” Asia was … [Read more...] about Asia’s SPAC Hopefuls Have Nowhere to Turn As IPO Market Shuts

Reuters filepix for illustration purpose only - A + A KUALA LUMPUR (May 18): Malaysia is prepared to work closely with the United States (US) and the United Kingdom (UK) to address the shortage of timber and timber products faced by the two countries. Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said this can be done by sourcing and value-adding from other countries, especially for PEFC (Programme for the Endorsement of Forest Certification) — certified timber products. In a statement on Wednesday (May 18), she said the sanctions on Russian timber products imports to the US have undoubtedly led to American importers looking for alternative sources of material, especially for plywood. “The current market sentiments on Malaysian timber in the US is positive, especially for Meranti and Keruing, with year-on-year demand for Meranti and Keruing sawn timber increasing by 9% and 467% respectively,” she said. Zuraida noted that the … [Read more...] about Malaysia is ready to work with US, UK on timber shortage, says Zuraida

- A + A HONG KONG (May 18): Analysts at Goldman Sachs said on Wednesday they were lowering their China 2022 gross domestic product growth forecast to 4% from 4.5% as a result of Covid-19-related damage to the economy in the second quarter of this year. It was more likely China's economy would undershoot than overshoot their target, they added. "Even this lower growth projection embeds the assumption that Covid is mostly under control going forward, the property market improves from here, and the government provides substantial policy offset through infrastructure spending in coming months," they wrote. China's retail and factory activity fell sharply in April as widespread Covid-19 lockdowns confined workers and consumers to their homes and severely disrupted supply chains. China's uncompromising strategy to fight Covid-19 has placed hundreds of millions of people in dozens of cities under restrictions of some kind, and has disrupted a global rebound in … [Read more...] about Goldman cuts China 2022 growth forecast to 4%

MRT Corp chief executive officer Datuk Mohd Zarif Hashim (The Edge filepix by Sam Fong) - A + A JOHOR BAHRU (May 18): The Johor Bahru-Singapore Rapid Transit System (RTS) Link project is expected to play a major role in boosting economic activities, potentially becoming as huge as the Hong Kong-Shenzhen Western Corridor. Mass Rapid Transit Corporation (MRT Corp) chief executive officer Datuk Mohd Zarif Hashim said the RTS Link project’s value cannot be measured only from the point of view of its construction, as it should also take into account how it would be able to attract investments in the long run. “Investments made by the government should provide returns in the short and long term, so we are letting the people around the world know that there are plenty of opportunities to invest in Johor Bahru due to this RTS project. “Our wish is that one day the Johor Bahru-Singapore corridor will be a rival or match to the Shenzhen-Hong Kong corridor…that’s what we … [Read more...] about RTS Link can be as big as Hong Kong-Shenzhen Western Corridor

Reuters filepix for illustration purpose only - A + A NEW YORK (May 18): The US is forcing Wall Street banks to embark on a systematic search through more than 100 personal mobile phones carried by top traders and dealmakers in the largest-ever probe into clandestine messaging on platforms such as WhatsApp. The Securities and Exchange Commission has been sending firms lists of key positions — in some cases pointing to around 30 people including heads of certain investment banking teams or trading desks — that are subject to the review, according to people with direct knowledge of the requests. Personnel in those roles are being ordered to hand over phones so devices can be examined by lawyers. The aim is to gauge how pervasively Wall Street professionals use unauthorized messaging platforms to chat with each other or clients as regulators decide which firms to punish, and how hard, for failing to preserve business-related messages sent via unapproved platforms. … [Read more...] about US pries into over 100 trader and banker phones in texting probe

- A + A (May 18): Asian sponsors of blank-check firms are facing a tough market for initial public offerings wherever they turn, as a combination of increasing regulatory scrutiny and fading investor demand shutters the window for new listings from the US to Asia. In the past three months, at least six Asia-related special purpose acquisition companies seeking a combined US$1.3 billion from US IPOs have been scrapped, according to data provider SPAC Research. Of 12 blank-check firms that have filed to go public in Hong Kong, only one has actually started trading. It’s a similar pattern in Singapore, where SPACs have stalled after three inaugural IPOs in January. “The global IPO market has obviously been very quiet so far this year,” Paul Uren, JPMorgan Chase and Co’s Asia Pacific head of investment banking, said in an interview with Bloomberg TV. “What we need to see for that to change is lower volatility and investors with more of a risk-on mentality.” Asia was … [Read more...] about Asia’s SPAC hopefuls have nowhere to turn as IPO market shuts

- A + A HONG KONG (May 18): Smarting from HSBC Holdings Plc’s move to scrap its dividend during the height of the pandemic, the bank’s largely silent mass of retail shareholders in Hong Kong is warming up to the idea of a breakup. Splitting up Europe’s biggest bank to separate out its Asian operations is being pushed by its largest investor, Ping An Insurance Group Co, based just across the border in Shenzhen. The call is winning support in Hong Kong’s retail base, which owns about a third of the bank, with some seeing it as a surefire way of preventing the steady stream of payouts from being cut off again. Their loyalty has been tested as numerous pivots in strategy fail to impress the market, leaving dividends at half of what they were in 2018 and the stock down more than 40%. The former British colony is the beating heart of the bank’s global operations, accounting for about 30% of the group’s 2021 adjusted profits. Yet decisions such as the halting of dividends … [Read more...] about HSBC’s mass of Hong Kong retail investors warms to breakup

- A + A (May 18): A welcome revival in travel and cargo demand helped Singapore Airlines Ltd narrow losses in the second half of the fiscal year through March, though the high price of oil weighed on the carrier, its annual results showed. The airline’s net loss in the October-March period was S$125 million (US$90 million), it said in a statement Wednesday, compared with a loss of S$804 million a year earlier. Sales more than doubled in the six-month period to S$4.79 billion. Singapore started unraveling tight Covid-19 travel restrictions in September, allowing fully-vaccinated people from certain countries to enter without having to quarantine — a boost to the flag carrier, which had suffered record losses in the height of the pandemic. With Singapore further loosening curbs in April, quarantine-free entry is available for inoculated travelers from anywhere. “Key markets around the world have further eased travel restrictions, supporting a strong recovery in … [Read more...] about Singapore Airlines’ second-half loss narrows as travel picks up