Home / 2019 / November / 03

Daily Archives: November 3, 2019

Alex Marquez crowned as Moto2 World champion

VSEPANG, Spain’s Alex Marquez sealed the 2019 Moto2 world championship after finishing second to main rival Brad Binder and beating Thomas Luthi at the 2019 Shell Malaysia Motorcycle Grand Prix (MotoGP) at the Sepang International Circuit here today.

The 23-year-old representing EG 0,0 Marc VDS team started the race from pole position but came in 0.758 seconds behind Binder of South Africa, who was riding for Red Bull KTM Ajo and clocked 38 minutes 07.843s.

But it was enough for him to clinch the 2019 Moto2 world championship title in Sepang.

The younger brother of 2019 MotoGP world champion Marc Marquez accumulated 282 points with five wins after 18 rounds this season, while Binder in second spot with 259 points.

With the title, Marquez became the first rider to win the both Moto2 and Moto3 World Championships, having previously clinched the Moto3 title in 2014, and has recorded 10 podiums and six poles this season so far.

He also became the fifth Spanish rider to win the Moto2 title, after Toni Elias, his brother Marc, Pol Espargaro and Tito Rabat.

“Today on track, it was very difficult to control. At the last corner it was really unbelievable.

“I don’t know what I’m saying now because I’m so tired. It is a dream come true,” he said.

In the battle for the championship, Binder stretched Marquez to get the lead up to over a second with five laps remaining, while Luthi tried to put pressure on Marquez.

The Spaniard managed his race carefully and had a reply for every challenge aboard his Kalex to finally claim the crown he had seemed on course for the last few rounds of the championship.

Luthi got as close as six tenths of a second to Marquez at one stage, but failed to apply much more pressure and quickly faded on the final lap.

Binder went unchallenged to the chequered flag to secure his fourth win of the season, while Marquez was left to cruise to the world championship.

Source: BERNAMA (News Agency)

Sabah Sukma swimmer Janetty John Fabian shines in Labuan International Meet

LABUAN, Sabah’s Sukma swimmer Janetty John Fabian made history at the 4th Labuan International Swimming Championships 2019 today, clinching eight golds and one silver from the nine events she contested in to emerge as the overall champion.

The 14-year-old from the Penampang Preppies Swimming Club won the 100m backstroke event with a time of one minute and 16 seconds (1:16s), 100m freestyle (1:02s), 200m freestyle (2:25s), 50m freestyle (29s), 50m backstroke (33s ), 50m breaststroke (37s), 100m butterfly (1:11s), and the 4x50m (mixed Under-18) medley relay with a time of two minutes and 14 seconds (2:14s).

Her winning times in the 100m freestyle and 50m breaststroke events were also new personal bests.

She finished second in the100m breaststroke (Girls 13-14) with a time of one minute 26 seconds (1:26s) behind Kristen Chong Siew Yet of Sailfish Aquatic Athletic of Miri (1:25s), Sarawak.

The student of SMK Bahang, Penampang had been called up for national duty in 2018 during the 10th Asian School Games (ASG) in Shah Alam, Selangor, and was shortlisted by the Sabah Aquatic Sports Association (SASA) to undergo training for Sukma 2020.

Emmanuel Sipawol, 14, also from Penampang Preppies Swimming Club, clinched five golds to emerge the best boy swimmer in Group 2, while Tan Jie Sheng, 16, from Labuan International School (LIS) was the best boy swimmer in Group 1, clinching five golds, two silvers and two bronzes; and Siti Izzah Atira Tanan, the best girl swimmer in Group 1 with five golds.

Penampang Preppies were the overall champions of the 4th Labuan International Swimming Championships 2019 held at the Labuan International School with a tally of 101 medals (42 golds, 26 silvers and 33 bronzes), Sekolah Sukan Malaysia Sabah finished second with 41 medals (24 golds, 10 silvers and seven bronzes) and the Labuan International School in third with 35 medals (10 golds, 14 silvers and 11 bronzes).

The Labuan Aquatic Association in collaboration with Labuan International School (LIS), hosted the two-day event which is open to swimmers aged between 8 and 18 years from affiliated clubs.

A total of 179 swimmers from ten clubs took part in the event including Penampang Preppies Swimming Club with 46 swimmers, Sekolah Sukan Malaysia Sabah (12), NHS Swimming Club Melaka (13), Miri Sailfish (16), KRP Miri (three), Brunei Speed Swimming Club (three), PSI Brunei (nine), Labuan Swimming Association (18), Labuan International School (31) and Labuan Aquatic Association with 28 swimmers.

The annual event is aimed at creating a platform for swimmers to learn the values of sportsmanship, teamwork as well as the opportunity to work towards a specific goal.

LIS chief executive officer Jaffree Ismail said the school was committed to making the Labuan International Swimming Championship a premier sporting event, in hopes to develop Labuan as a key aquatic sports centre.

Labuan MP Datuk Rozman Isli said the event had also contributed greatly to the development of swimming in the state.

Having an Olympic-sized swimming pool, we should make use of it for the better, to scout new young talents, he said at the closing ceremony.

Rozman also announced an undisclosed amount of allocation for next year’s event.

The event was supported by Majlis Sukan Wilayah Persekutuan and jointly sponsored by LIS, Mariner Hotel Labuan, Market Management Services Sdn Bhd (Education Placement), Swimshop2U, FINIS, Real OutPlay, MILO – as the official malt chocolate beverage, SkyBlue Water and Sky Park Trading.

Source: BERNAMA (News Agency)

Minimise easy mistakes in final qualifying match – Oltmans

KUALA LUMPUR, National men’s hockey squad head coach, Roelant Oltmans reminds the Malaysian Tigers to cut down their mistakes ahead of their final meeting with world number seven, Great Britain in the final Olympic Qualifiers match at the Lee Valley Hockey and Tennis Centre in London, United Kingdom, late Sunday.

The 65-year-old Dutchman revealed that the national side committed a number of errors in the second quarter which allowed the hosts to bounce back and clinched a comfortable 4-1 win in the first Olympic Qualifiers match on Saturday (Sunday in Malaysia).

Its good to see we control the first quarter of the match, but it is not good to see how we play in the second half, especially in the third quarter and it is important for us to play consistently throughout the game.

Sometimes we did not perform well in a few sections, and it happen again in this match, he was quoted in the International Hockey Federation (FIH) website, www.fih.ch.

Nevertheless, Oltmans is still upbeat that the Malaysian Tigers squad can claw their way back in the final match to secure a ticket to the 2020 Tokyo Olympics.

Echoing his sentiments was captain Mohamad Sukri Abdul Mutalib who believed the team still have a chance to make it to the Olympics, having being last featured in the 2000 edition in Sydney, Australia.

If we get the first goal (in the final match) it is game on. We need to score early and pose a threat to the opponents, he added.

In the first match, Malaysia drew the first blood through Nabil Fiqri Mohd Noor in the sixth minute, only to see the hosts replied with four goals via Sam Ward in the 32rd minute, Phil Roper (41st minute), Alan Forsyth (42nd minute) and James Gall in the 47th minute.

Source: BERNAMA (News Agency)

Dalla Porta claims Malaysian GP Moto3 title

SEPANG, Italian Lorenzo Dalla Porta won the Moto3 race from seventh grid in the 2019 Shell Malaysia Motorcycle Grand Prix (MotoGP) at the Sepang Circuit here, today.

The 22-year-old representing Leopar Racing team finished the race in 38 minutes 01.355 seconds, 0.410s ahead of Spaniard Sergio Garcia of Estrella Galicia 0,0 and 0.803s ahead of third-placed Jaume Masia of Mugen Race.

“Yesterday, I told the media I only want to enjoy and try to win the race. And today, I’m simply enjoying it and won the race as well,” said Dalla Porta.

Briton John McPhee representing Malaysia’s home team Petronas Sprinta Racing was 1.342s behind the leader to settle in seventh place while his teammate Ayumu Sasaki of Japan retired after being involved in a crash in the eighth lap.

Source: BERNAMA (News Agency)

ECERDC hands over new Plaza IMT-GT at Bukit Bunga

KUALA LUMPUR, The newly completed Plaza IMT-GT (Indonesia-Malaysia-Thailand Growth Triangle) at Bukit Bunga, Jeli, Kelantan, has been handed over to the two agencies entrusted with operating it.

Representatives from the Tanah Merah District Council, the operator of the market section, and the South Kelantan Development Authority (Kesedar) which will manage the commercial section, received the keys to the commercial complex.

Plaza IMT-GT is a strategic commercial complex developed by the federal government through the East Coast Economic Region Development Council (ECERDC).

It is also a key initiative to boost cross-border trade and socio-economic activities in Kelantan as identified in the Border Economic Transformation Plan.

The aim is to realise the potential of Bukit Bunga as a gateway to cross-border tourism and trade for Kelantan, ECERDC said in a statement today.

Chief executive officer, Baidzawi Che Mat said the federal government, through ECERDC, had been working closely with the state government to implement various high-impact public projects in Kelantan in an effort to realise the government’s Shared Prosperity Vision (SPV).

Plaza IMT-GT’s strategic location in Bukit Bunga, bordering Southern Thailand and its close proximity to the Bukit Bunga Customs, Immigration and Quarantine, makes it a strategic cross-border gateway for local and cross-border trade, tourism and commercial activities, he added.

Construction of the project begun in 2017 and was completed in July this year.

The certificate of completion and compliance was issued on Oct 29, 2019 and the Plaza IMT-GT is expected to be fully operational by Dec 15, 2019.

With the completion and operation of the plaza, ECERDC expects a boost in socio-economic opportunities for the local community, creating 150 jobs and 100 entrepreneurial opportunities.

The plaza is also a platform for traders from Malaysia, Thailand and Indonesia to introduce, showcase and market their products, all under one conducive and strategically located venue.

In line with the ECER Masterplan 2.0 2018-2025 (EMP2.0), launched earlier this year, the plaza is one of the key projects in Kelantan which will leverage on the synergy generated by the IMT-GT zone.

Through the initiatives under EMP2.0, private Investment in Kelantan is expected to grow by another RM9.5 billion, and create 30,000 jobs and 19,000 entrepreneurial opportunities, said Baidzawi.

These strategic initiatives targeting equitable economic growth was in line with the goal of balanced regional growth under the government’s SPV, he added.

ECERDC is a statutory body established to spearhead the execution and implementation of the East Coast Economic Region (ECER) Master Plan.

Source: BERNAMA (News Agency)

Wahed aims to revolutionise investment mindset via digital engagement

KUALA LUMPUR, Wahed Invest, a Shariah-compliant investment company licensed by the Securities Commission Malaysia, aims to revolutionise the mindset on investment via digital engagement.

Its executive director Mohd Izzat Fadhli said that the younger generation nowadays especially those who are involved in the gig economy have a very uncertain future job security as well as savings.

The majority of them do not have long-term security for their retirement as they are not contributing to the Employees Provident Fund or even the Social Security Organisation (SOCSO).

We hope that Wahed Invest can be a platform for the underserved community that would want to invest for the long term with a low entry fee of only RM100 and no lock-in period, he told Bernama in an exclusive interview.

He added that Wahed Invest hopes to remove the barriers to investment and portfolio management that were traditionally reserved for high net worth investors.

There has been a stigma that investment is expensive and difficult. We hope to change that mindset by providing the access to capital markets to the masses, especially to those with little financial knowledge which had hindered them from efficient wealth management, he said.

Izzat explained that clients of Wahed Invest will have exposure to a wide range of investment assets, including Sukuk, gold and Malaysian as well as US stocks through exchange-traded funds (ETFs) and unit trust funds (UTFs), with their allocations comprising six diversified and unbiased Shariah-compliant portfolios depending on the clients’ risk tolerance.

We have a full-time Shariah board to guide us in determining that the investments are 100 per cent Shariah-compliant. For local stocks, the Shariah screening is done by the Shariah Advisory Council of the Securities Commission while screening for foreign stocks is done by each fund’s Shariah advisors, he said.

The investment returns, he said, would depend on the risk portfolio that the client chooses.

Based on their past performance over the last nine years, less risky portfolios have yielded between five to six per cent return while higher-risk portfolios have yielded between 10 to 11 per cent return, he said.

Izzat added that as investors age, their risk tolerance would change. A younger investor tends to take more risks and therefore is suitable for higher-risk portfolios. However, 10 years down the road, their behaviour or goals would be different, and a change to lower-risk portfolios is prudent to account for their new risk tolerance. This change can be undertaken by clients simply by reaching out to Wahed Invest.

Wahed Invest, which started in the United States and is licensed with the SEC, has successfully obtained their regulatory licence from the Securities Commission Malaysia to offer the first Islamic digital investment investment services.

By introducing a platform that provides fund management services through digital means, Wahed Invest believes that they can help the country to increase financial inclusion by easing the access to anyone wanting to invest in a Shariah-compliant and ethical manner, he said.

Wahed Invest, the world’s first digital Shariah-compliant investment management services provider, is spreading its wings to the Asia Pacific (APAC) region, making Malaysia its regional hub.

The US-based Shariah-compliant investment company has chosen Malaysia as their base due to its strength in Islamic finance as well as a clear framework on digital investment.

Source: BERNAMA (News Agency)

Foreign funds inflow on an uptrend – analysts

KUALA LUMPUR, The net inflow of foreign funds into the local equity market has been on an uptrend, as outflow continued to decrease month-on-month (m-o-m), marking a possible end to the downtrend for this year.

Inter-Pacific Securities Sdn Bhd head of research, Pong Teng Siew said based on the pattern, there will be an increase in net inflow in the coming weeks as Bursa Malaysia has already hit its lowest mark for the year.

“The stock market has approached the lowest level for the year, as well as a four-year low at 1,548.45 points. Since, then, the market has showed signs of recovery, and in reaching a six-week high on Wednesday at 1,597.98,” he told Bernama.

Based on the data recorded, August recorded the largest net outflow of RM2.59 billion and the net selling continued to decrease to RM550.01 million in September and narrowed to RM484.55 million in October.

On a-week-on-week basis, from Tuesday to Thursday due to a holiday shortened week, an inflow of RM3.46 million was recorded compared with RM302.36 million last week.

On Friday, the benchmark FTSE Bursa Malaysia KLCI closed at 1,593.34, a climb of 23.34 points from last week’s close.

On the ringgit front, Pong said the ringgit is currently being traded at a fair value of 4.1700-4.1840 against the US dollar and would continue to trade range bound in the coming week.

“This is an exception from Friday’s ringgit climb as the US dollar weakened significantly due to the third rate cut by the US Federal Reserve yesterday,” he added.

Meanwhile, an analyst said the market barometer will continue to be influenced by the US-China trade jitters, despite US President Donald Trump stating a deal between the two economic superpowers would be completed soon.

“Despite the announcement that Trump and his Chinese counterpart Xi Jinping would sign a phase one trade deal, the market still remain uncertain of the outcome,” she added.

On the oil front, she said the benchmark Brent crude still remained on the defensive side, in maintaining between US$57 per barrel to $63 per barrel, which would have a minimal impact on the ringgit next week.

As for the trade spat between Malaysia and India, she said the market would not be dragged on for too long, as both countries would find an amicable solution soon.

On Friday, the ringgit closed at 4.1640/1670 against the greenback.

Over the short week, the local market as well as the ringgit’s performances was driven mainly by the US-China trade talks, the third interest rate cut by the US Federal Reserve (US Fed), as well as US economic data.

As for next week, investors will watch closely Bank Negara Malaysia’s announcement on its overnight policy rate on Tuesday (Nov 5), following the rate cut by the US Fed.

“We believe BNM will maintain the OPR rate in this sitting as local data showed that the local economy and consumption is still on a healthy trend,” the analyst said.

Source: BERNAMA (News Agency)