The Malaysian Reserve

23/01/2024

Pakistani father kills son over political party flag

https://themalaysianreserve.com/2024/01/23/pakistani-father-kills-son-over-political-party-flag/

PESHAWAR – A father killed his son after the pair disagreed about which political party flag to display in the lead-up to Pakistan’s general election, police said.  The argument broke out when the son, who recently returned from working in Qatar, hoisted the flag of former prime minister Imran ...

23/01/2024

Australian ex-PM Morrison quits politics

https://themalaysianreserve.com/2024/01/23/australian-ex-pm-morrison-quits-politics/

SYDNEY – Former Australian prime minister Scott Morrison (picture) on Tuesday said he was leaving politics to pursue a business career, calling time on a contentious career. The veteran politician announced he was stepping down as representative for a Sydney suburb next month, after 16 years in ...

23/01/2024

Agmo Holdings in AI-powered solutions venture

https://themalaysianreserve.com/2024/01/23/agmo-holdings-in-ai-powered-solutions-venture/

AGMO Holdings Bhd, a digital solutions and application development player, has collaborated with individuals Wong Zhi Heng and Ong Yong Seng to provide end-to-end machine learning and artificial intelligence (AI)-powered solutions. The collaboration will be facilitated through a joint-venture (JV) c...

23/01/2024

Rapid Synergy sells Sri Hartmas land for RM39m

https://themalaysianreserve.com/2024/01/23/rapid-synergy-sells-sri-hartmas-land-for-rm39m/

RAPID Synergy Bhd (RSB) has entered into a conditional sale and purchase agreement with Exsim Putra Permai 45 Sdn Bhd for the proposed disposal of a freehold land parcel in Sri Hartamas, Kuala Lumpur, for RM39 million. The land, measuring approximately 4,716 square metres, was initially intended for...

23/01/2024

Axis REIT posts 6.3% growth in 4Q net property income to RM66m

https://themalaysianreserve.com/2024/01/23/axis-reit-posts-6-3-growth-in-4q-net-property-income-to-rm66m/

AXIS Real Estate Investment Trust (REIT) reported a 6.3% increase in net property income (NPI) for the quarter ended December 31, 2023 (4Q2023), reaching RM66.16 million compared to RM62.22 million in the same period a year ago. The growth was attributed to higher revenue, which rose by 6.5% to RM75...

23/01/2024

Abandoned Singapore mall becomes unlikely art haven

https://themalaysianreserve.com/2024/01/23/abandoned-singapore-mall-becomes-unlikely-art-haven/

SINGAPORE – In Singapore, where graffiti is banned, young creatives have taken over an abandoned mall, spray painting colourful murals and holding art workshops to bring the space back to life. Around half a century old, Peace Centre is scheduled to face the wrecking ball later this year, but fans...

23/01/2024

AirAsia X records strong growth in passenger numbers and load factor in 4Q23

https://themalaysianreserve.com/2024/01/23/airasia-x-records-strong-growth-in-passenger-numbers-and-load-factor-in-4q23/

AirAsia X Bhd (AAX) reported a substantial increase in passenger numbers for the fourth quarter of 2023, reaching 890,289 passengers, marking a 2.6-fold rise from the same period in the previous year. The airline achieved an impressive passenger load factor (PLF) of 82% in 4Q23, a three-percentage-p...

23/01/2024

Hextar Capital to generate RM10m through UK subsidiary’s equity stakes sale

https://themalaysianreserve.com/2024/01/23/hextar-capital-to-generate-rm10m-through-uk-subsidiarys-equity-stakes-sale/

HEXTAR Capital Bhd is set to divest its stakes in two UK entities, aiming to generate approximately RM9.94 million. The proceeds will be allocated to support ongoing contracts, potential acquisitions, investments, and address working capital needs, thereby enhancing future earnings. Its subsidiary,....

23/01/2024

Petronas awards seven PSCs in Malaysia bid round 2023, launches bid round 2024

https://themalaysianreserve.com/2024/01/23/petronas-awards-seven-pscs-in-malaysia-bid-round-2023-launches-bid-round-2024/

PETROLIAM Nasional Bhd (Petronas) has today granted production sharing contracts (PSCs) for six exploration blocks and one discovered resource opportunities (DRO) cluster under the Malaysia Bid Round 2023 (MBR 2023), attracting over RM1.3 billion in capital investments. The PSCs were awarded to comp...

23/01/2024

Palworld game dubbed ‘Pokemon with Guns’ a sensation

https://themalaysianreserve.com/2024/01/23/palworld-game-dubbed-pokemon-with-guns-a-sensation/

SAN FRANCISCO – The makers of “Palworld,” a game dismissed as “Pokemon with Guns” when it was announced, said Monday the game has proved a hit, selling more than five million copies in just three days. The game released Friday at online platform Steam blends weapon-wielding player avatars ...

23/01/2024

Japan give goalkeeper ‘full support’ after racist abuse

https://themalaysianreserve.com/2024/01/23/japan-give-goalkeeper-full-support-after-racist-abuse/

DOHA – Zion Suzuki has “the full support” of Japan’s squad at the Asian Cup after the goalkeeper was racially abused online, their coach said on Tuesday. The 21-year-old Suzuki, whose father is Ghanaian-American and mother Japanese, said he had been racially abused on social media following ...

23/01/2024

Reneuco explores collaboration with Vietnamese firm for Industrial buildings development

https://themalaysianreserve.com/2024/01/23/reneuco-explores-collaboration-with-vietnamese-firm-for-industrial-buildings-development/

RENEUCO Bhd’s wholly-owned subsidiary, Reneuco Development Sdn Bhd, has entered into a memorandum of understanding (MOU) with Zamil Steel Buildings Vietnam Co Ltd (ZSBV) to explore collaboration and business opportunities in Malaysia and abroad, particularly in the industrial buildings development...

23/01/2024

Director fined RM150,000 for Pulau Perhentian resort collapse that killed two workers

https://themalaysianreserve.com/2024/01/23/director-fined-rm150000-for-pulau-perhentian-resort-collapse-that-killed-two-workers/

JERTIH – The director of Malee Beach Resort Sdn Bhd was fined RM150,000 by the Besut Sessions Court here today after he pleaded guilty to constructing a building without permit that collapsed, resulting in the death of two employees on Nov 9, last year. Lee Boon Han, 55, made the plea after the ch...

23/01/2024

YNH Property discloses Mont Kiara Mall sale plans

https://themalaysianreserve.com/2024/01/23/ynh-property-discloses-mont-kiara-mall-sale-plans/

YNH Property Bhd responded to Bursa Malaysia Securities’ inquiry about unusual market activity, disclosing plans to sell a retail shopping mall in Mont Kiara with a 6.0-acre land size. Offers for the property are under evaluation, and a decision is expected within a month, it said. On January 18, ...

23/01/2024

Mah Sing ventures into Indonesian plastic pallet market

https://themalaysianreserve.com/2024/01/23/mah-sing-ventures-into-indonesian-plastic-pallet-market/

MAH SING Group Bhd has inked a master cooperation agreement with PT Gaya Sukses Mandiri Kaseindo to jointly engage in the manufacturing and trading of plastic pallets, containers, and related material handling and storing products in Indonesia. The collaboration will operate through a joint venture....

23/01/2024

Star Media appoints Chan Seng Fatt as Group CEO

https://themalaysianreserve.com/2024/01/23/star-media-appoints-chan-seng-fatt-as-group-ceo/

STAR Media Group Bhd (SMG) has appointed Chan Seng Fatt (picture) as Group CEO, effective March 1, 2024. Chan, aged 60, succeeds Alex Yeow Wai Siaw, who is stepping down at the end of his contract on Feb 29. Following his appointment, Chan will resign as an independent non-executive director of SMG,...

23/01/2024

Isteri Daim didakwa | 15 MINIT MMTV 23 Januari 2024

23/01/2024

Six claim trial to charge of promoting online gambling

https://themalaysianreserve.com/2024/01/23/six-claim-trial-to-charge-of-promoting-online-gambling/

GEORGE TOWN – Six individuals, including three women, were charged with promoting online gambling last week, at the Magistrate’s Court here today. Chooi Pi Tse, 32, Ong Ji Wei, 24, Lai Ming Hao, 30, Ching Zi Wei, 32, Lye Kher Ying, 26 and Yeap Ting Yao, 32, pleaded not guilty after the charges w...

23/01/2024

Terengganu experiences fourth wave of flooding

https://themalaysianreserve.com/2024/01/23/terengganu-experiences-fourth-wave-of-flooding/

KUALA TERENGGANU – The fourth wave of flooding has struck Terengganu, starting with Marang district following continuous rainfall since last night. According to the Terengganu State Disaster Management Committee Secretariat (JPBNT)  24 victims from seven families have been placed at three tempora...

23/01/2024

Swatch posts lower-than-expected profit for 2023

https://themalaysianreserve.com/2024/01/23/swatch-posts-lower-than-expected-profit-for-2023/

ZURICH – Switzerland’s Swatch, maker of luxury timepieces Tissot, Longines and Omega, reported on Tuesday a lower-than-expected net profit for 2023 as sales figures were hit by a strong Swiss franc. The company said its net profit rose by 8.1 percent to 890 million francs ($1 billion), lower tha...

23/01/2024

Thaipusam: Several road closures in Penang

https://themalaysianreserve.com/2024/01/23/thaipusam-several-road-closures-in-penang/

GEORGE TOWN – Several main roads in Penang will be closed due to the procession of the gold and silver chariots in conjunction with Thaipusam on Thursday (Jan 25). The three-day celebration is expected to draw over one million Hindu devotees, starting today. Timur Laut district police chief ACP Ra...

23/01/2024

PTPTN boosts corporate identity with new branch

https://themalaysianreserve.com/2024/01/23/ptptn-boosts-corporate-identity-with-new-branch/

This is PTPTN’s 3rd inaugurated branch since its rebranding by VEISHNAWI NEHRU / pic courtesy of PTPTN THE National Higher Education Fund Corp (PTPTN) has opened its Taiping branch, the third inaugurated since its rebranding. Chairman Datuk Norliza Abdul Rahim said in ensuring that PTPTN’s corpo...

23/01/2024

Vernacular schools case: Apex court fixed Feb 20 to hear bid for leave to appeal by two NGOs

https://themalaysianreserve.com/2024/01/23/vernacular-schools-case-apex-court-fixed-feb-20-to-hear-bid-for-leave-to-appeal-by-two-ngos/

PUTRAJAYA — The Federal Court has fixed Feb 20 to hear the applications by two non-governmental organisations to seek leave to appeal against a decision by the Court of Appeal in declaring the use of Mandarin and Tamil as the medium of instruction in vernacular schools as constitutional. The heari...

23/01/2024

United Airlines profit down amid Boeing issues

https://themalaysianreserve.com/2024/01/23/united-airlines-profit-down-amid-boeing-issues/

WASHINGTON – United Airlines on Monday said it is expecting a significant loss for the current quarter as dozens of Boeing 737-9 MAX aircraft remain on the ground, reported dpa news. The Chicago-based company forecasted adjusted quarterly loss per share of between US$0.35 and US$0.85 in the first ...

23/01/2024

Appeals court dismissed appeal by three individuals over Lynas licence extension

https://themalaysianreserve.com/2024/01/23/appeals-court-dismissed-appeal-by-three-individuals-over-lynas-licence-extension/

PUTRAJAYA — The Court of Appeal today dismissed an appeal by three individuals to challenge the then Pakatan Harapan (PH) cabinet’s decision to grant Lynas Malaysia Sdn Bhd an extension of licence in 2019 to operate its rare earth processing facility. A three-member panel of judges comprising Ju...

23/01/2024

Possible death sentence awaited in Japan anime arson trial

https://themalaysianreserve.com/2024/01/23/possible-death-sentence-awaited-in-japan-anime-arson-trial/

TOKYO – A Japanese man who admitted starting a fire that killed 36 people at an anime studio in 2019 faces a possible death sentence on Thursday when a court delivers its verdict. The July 2019 arson attack at the studios of Kyoto Animation was Japan’s deadliest crime in decades, and stunned the...

23/01/2024

Apple pays fine of over US$13m for violating anti-monopoly rules in Russia – Russian gov’t

https://themalaysianreserve.com/2024/01/23/apple-pays-fine-of-over-us13m-for-violating-anti-monopoly-rules-in-russia-russian-govt/

MOSCOW – US tech giant Apple has paid an antitrust fine of 1.2 billion rubles (US$13.6 million) for forcing Russian iOS app developers to use the company’s payment instrument in their applications, the Russian Federal Anti-Monopoly Service (FAS) said on Monday, adding that the funds have already...

23/01/2024

Remaco partners Al Dhow, GE Vernova for maintenance services in Kuwait

https://themalaysianreserve.com/2024/01/23/tnb-remaco-partners-al-dhow-ge-vernova-for-maintenance-services-in-kuwait/

This is an effort by Kuwait to modernise the power generation infrastructure and to advance the global effort for a sustainable energy transition by ZAHIN ZAILANI TNB Repair and Maintenance Sdn Bhd (TNB Remaco) is advancing its power plant maintenance business in Kuwait with a multi-year maintenance...

23/01/2024

ERL’s KLIA service concession extended by 30 years, fare to follow market rate from 2029

https://themalaysianreserve.com/2024/01/23/erls-klia-service-concession-extended-by-30-years-fare-to-follow-market-rate-from-2029/

KUALA LUMPUR – The government has extended the concession of Express Rail Link Sdn Bhd (ERL) to operate KLIA Ekspres and KLIA Transit, from 2029 to 2059. Transport Minister Anthony Loke said the 30-year concession extension will enable ERL to determine the fare based on the market rate. He said th...

23/01/2024

Meraque’s AGV project leads Malaysia’s technological revolution

https://themalaysianreserve.com/2024/01/23/meraques-agv-project-leads-malaysias-technological-revolution/

by AZALEA AZUAR / pic Meraque MERAQUE Group’s Meraque Training Academy (Merit) is set to train over 500 talents by the end of 2024 to meet the growing demand for drone services. To empower the youth and train them in robotics, Meraque signed a Memorandum of Understanding with the Youth and Sports...