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Daily Archives: August 15, 2019

Samsung unveils Samsung Galaxy Note10

KUALA LUMPUR, Samsung Malaysia Electronics has unveiled the Galaxy Note10, a new range of premium smartphones that combines elegant design with powerful performance and productivity tools.

With prices starting from RM3,699, the Galaxy Note10 gives users the freedom to work the way they want to and showcase their creative spirit, all on-the-go, said Samsung Malaysia Electronics president Yoonsoo Kim.

“The Galaxy Note10 proves that Samsung continues to be the innovator of new mobile experiences across all platforms and devices,” he said at the launch of the Galaxy Note10 here today.

He said that for the first time ever, Samsung had simultaneously debuted two Note devices, namely Note10 and Note10+, both featuring revolutionary innovations in terms of design, creativity, productivity and performance.

The Galaxy Note10 offers ultimate productivity in a compact form, packing a 6.3-inch cinematic infinity display into the most compact Note so far, while the Galaxy Note10+ features the biggest Note display ever with a 6.8-inch cinematic infinity display on a device that is still easy to hold and easy to use, said Kim.

Both Galaxy Note10 and Galaxy Note10+ comes with 256GB storage capacity, priced at RM3,699 and RM4,199 respectively.

Those who looking for bigger capacity may purchase the 512GB Galaxy Note10+ which retails at RM4,799.

The Galaxy Note10 comes in three colours; aura glow, aura black and aura pink, while Galaxy Note10+ is available in aura black, aura white and aura glow.

Source: BERNAMA (News Agency)

Malaysian economy to grow above 4.0 pct in Q2 – IBC Assets

KUALA LUMPUR, Malaysia’s economy is projected to expand at a rate of at least 4.0 per cent in the second quarter this year, supported by exports, said IBC Assets Bhd head of research Dr Serge Pierre Besanger.

He said while imports dropped by 9.2 per cent to RM65.9 billion year-on-year in June, it was net export that contributed to the economic growth and there was a significant improvement on that front.

Besanger added that balance of trade widening to RM10.3 billion in June against RM9.1 billion in the previous month.

While Thailand and Indonesia could lose their Generalized System of Preferences (GSP) status due to persistent allegations of intellectual property breaches, Malaysia is immune to such threats because it is essentially a level playing field and the country has a strong track record in respecting intellectual property, he said in a statement today.

Besanger said private consumption would remain a key growth driver of the Malaysian economy.

He noted that private consumption was expected to grow at a healthy rate of at least 5.0 per cent in the second quarter despite a slight uptick in unemployment and a tight fiscal policy, which is set to weigh on domestic demand as the government works on gradually reducing the budget deficit.

Capital expenditure was likely to have dropped sharply in the second quarter, as evidenced by the steep fall in imports of capital goods by -23.6 per cent year-on-year in June, said Besanger, who was an acting director at the IMF-Singapore Regional Training Institute during the Asian Financial Crisis.

Capital expenditure would eventually recover, bolstered by infrastructure projects and the redesign of value chains, he said, citing a recent Nomura research report that ranked Malaysia as one of the four largest beneficiaries of trade diversion from the ongoing trade dispute between the US and China.

Source: BERNAMA (News Agency)

Dialog Group FY19 net profit rises to RM535.84 mln

KUALA LUMPUR, Dialog Group Bhd’s net profit rose to RM535.8 million for the financial year ended June 30, 2019 (FY19) from RM510.4 million a year ago.

However, revenue recorded by the integrated technical services provider for the oil, gas and petrochemical industry declined 23.3 per cent to RM2.39 billion from RM3.11 billion previously.

In a filing with Bursa Malaysia, the company said the financial performance achieved was contributed by the Malaysian operations which saw better performances delivered by the midstream and downstream activities.

Executive chairman Tan Sri Dr Ngau Boon Keat said the long-term storage agreement the group signed with BP Singapore Pte Limited in May 2019 for Phase 3 of the Pengerang Deepwater Terminals (PDT) marked another significant milestone.

He pointed out that only 50 per cent of the land had been developed under Phase 1 and Phase 2.

With another 200 hectares available for development, we are still in the early stages of developing PDT into the petroleum and petrochemical hub that we have envisioned it to be, he said.

On its Petronas groupwide master service agreement contract, Ngau said it would enable the group to sustain growth and reinforce earnings stability.

Barring any unforeseen circumstances, the group is confident that its performance will remain strong for the financial year ending June 30, 2020, he said.

Source: BERNAMA (News Agency)

Short-term rates remain steady on BNM’s operations

KUALA LUMPUR, Short-term interbank rates remained steady today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

The surplus in the conventional system decreased to RM19.2 billion from RM23.1 billion this morning, while in the Islamic system, it slipped to RM10.8 billion from RM17.27 billion.

Earlier today, BNM issued two conventional money market tenders, a Qard tender and a reverse repo tender.

At 4 pm, the central bank conducted a RM19.2 billion conventional money market tender and a RM10.8 billion Murabahah money market tender, both for one-day money.

The average Islamic overnight interest rate stood at 2.96 per cent, while the one-week, two- and three-week rates were pegged at 3.03 per cent, 3.07 per cent and 3.12 per cent respectively.

Source: BERNAMA (News Agency)

Cyberjaya to host Kaspersky transparency centre

CYBERJAYA, Malaysia’s Cyberjaya has been chosen to host cybersecurity outfit Kaspersky’s first transparency centre in the Asia Pacific region and its third transparency centre in the world.

The opening of the centre is in cooperation with CyberSecurity Malaysia, an agency under the Ministry of Communications and Multimedia and the national cybersecurity specialist.

CyberSecurity Malaysia chief executive officer Datuk Dr Amirudin Abdul Wahab at the launch of the centre said CyberSecurity’s partnership with Kaspersky focuses on threat detection technology and addressing malware threats.

“The centre aims to address the growing demand from Kaspersky’s partners and government stakeholders for more information on how the products and technologies work,” he said.

Amirudin said as the threat landscape continues to evolve in Malaysia and in the region, CyberSecurity Malaysia believes it is crucial for private companies such as Kaspersky and government agencies to build trust and mutual cooperation.

Kaspersky in a statement distributed at the launch said like its counterparts in Zurich and Madrid, the transparency centre in Malaysia will serve as a trusted facility for the company’s partners and government stakeholders to come and check the source code of Kaspersky’s solutions.

“The new centre will also function as a briefing centre where guests will be able to learn more about Kaspersky’s engineering and data processing practices,” the statement said, adding the centre will open for its first visitors early next year.

Source: BERNAMA (News Agency)

HSS engineers bids for water projects in Sabah, Sarawak

KUALA LUMPUR, Engineering and project management consultant HSS Engineers Bhd (HEB Group), through its subsidiary SMHB Engineering, is participating in recently released tenders for water infrastructure projects in Sabah and Sarawak, boosting its order book exceeding RM500 million as at June 30, 2019.

Among the initiatives is Sarawak’s water grid project to improve water supply services, especially in rural areas, it said in a statement today.

HEB Group executive vice-chairman Tan Sri Ir. Kuna Sittampalam said with the increasing concern over water supply in the country, plans were being implemented by various authorities such as the Ministry of Water, Land and Natural Resources, National Water Services Commission, Pengurusan Aset Air Bhd and various state governments to ensure sustainable and constant supply of water.

Major capital works are being tendered out in Sabah and Sarawak, and we expect other states to follow suit, especially those with water deficits such as Penang, Johor, Negeri Sembilan, Melaka and Selangor, he said.

As a key player in the water industry for more than 55 years, HEB Group, through its unit, SMHB Engineering, is well-positioned to jump on the bandwagon when water infrastructure projects are announced, he said.

He said the group will also be participating in various flood mitigation tenders recently issued by the Department of Irrigation and Drainage.

Source: BERNAMA (News Agency)

Acoustechs unit to develop properties in Johor with RM44.1 mln GDV

KUALA LUMPUR, Acoustech Bhd’s unit, Teras Eco Sdn Bhd and its partner, will develop 66 units of double and three-storey shop offices in Johor with a gross development value of RM44.1 million.

In a filing with Bursa Malaysia, Teras Eco on Thursday inked a joint venture agreement with Sun Rock Development Sdn Bhd, a unit of Protasco Bhd.

The gross development cost for the project in Johor Bahru attributable to and to be borne by the Teras Eco is RM22.1 million, while funds for the project will be internally generated or bank borrowings.

Under the project, Sun Rock will construct 17 units of shop offices.

Barring unforeseen circumstances, the project is expected to be completed by December 2022, Acoustech said.

It said the project would provide access to a development land measuring 2.38 hectares in a prime and bustling industrial hub that offers all-rounded facilities to support the growing community in Johor.

The project is also expected to contribute positively to the profitability and cash flow of the group over the next three years.

Source: BERNAMA (News Agency)