Fitch now also forecasts Genting Singapore's EBITDA to return to its pre-pandemic level in 2023, compared with our previous forecast of 2022.We also expect RWLV to fully ramp-up only in 2024, versus our previous forecast of 2023,” it said.While Fitch expects the recovery to be faster in Malaysia, where revenues are driven by domestic demand, that will not fully offset the slow recovery in other markets, the ratings agency said.

The pandemic has weakened the company's cash flows, and its high capex commitments in the next two to three years will delay deleveraging

Fitch also said it did not expect Genting's consolidated revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) to return to pre-pandemic levels until at least end-2022. The ratings agency previously forecast a recovery in 2021.
Fitch estimates Genting's consolidated EBITDA to fall by 80% to RM1.5 billion in 2020, before gradually improving to RM4.2 billion in 2021 and RM7.4 billion in 2022.

The slow recovery and high capex commitments will keep Genting's consolidated net leverage above two times until end-2024, which is no longer consistent with a 'BBB+' rating,” it said.
Fitch also noted that Genting's rating reflects its position as the sole casino-licence holder in Malaysia and robust share in Singapore duopolistic market.
Genting's other businesses add diversification both in terms of geography and sectors, and the group has a history of maintaining a prudent balance sheet.
The stable outlook reflects Fitch's expectation that the company will reduce leverage closer to three times by end-2023, supported by a gradual recovery, operating ramp-up at RWLV, and the company's commitment to a strong capital structure.

Fitch Ratings has downgraded the long-term issuer default ratings of Genting Bhd and its wholly-owned subsidiaries Genting Overseas Holdings Ltd and Resorts World Las Vegas LLC (RWLV) to 'BBB' from 'BBB+', with a stable outlook. The ratings agency said in a statement that the downgrade reflects Fitch's expectation that recovery from the coronavirus pandemic will be slower than initially forecast, in particular for Singapore, which relies on international tourism, as borders are likely to remain shut for the rest of 2020 and continued social distancing measures constrain visitor volumes.

MOT issued the statement following a video released online alleging that any cancellation of the KVDT 2 project would result in significant job losses.
The project was contracted to DMIA-LTAT Sdn Bhd, an 80:20 joint venture between Dhaya Maju Infrastructure (Asia) Sdn Bhd (DMIA) and the Armed Forces Fund Board (LTAT).
However, as a suit has been filed in court by DMIA-LTAT against the government on this matter and it is still an ongoing proceeding, the government shall respect the judicial process and let it take its course.As such, the ministry will not respond nor make any further comments on all matters relating to the subject matter of the suit, to avoid any possible sub-judice,” Wee added.
He urged the public to refrain from making further speculations that could jeopardise the court proceedings.

The Ministry of Transport (MOT) today made clear that the Klang Valley Double Tracking Phase 2 (KVDT 2) project will proceed as planned.The government wishes to reiterate its previous statement dated Aug 28, 2020 that the development of KVDT 2 will continue.
However, as to the implementation of KVDT 2, the Cabinet has agreed that it is best to reopen the tender for the project in the interest of deriving the best value for the rakyat and economy,” said Minister Datuk Seri Wee Ka Siong in a statement.

AWC Bhd has bagged a contract to provide management maintenance and operational services at a commercial office building in Putrajaya called Galleria PJH. The contract is valid for three years, starting on Nov 1 with an option to extend for another two years, the group said in a filing. The value of the three-year contract is RM6.51 million while the extended contract is worth RM4.31 million, it added. AWC said the letter of award was received by its wholly-owned subsidiary Ambang Wira Sdn Bhd from Putrajaya Holdings Sdn Bhd, the master developer of Putrajaya.

political-theme play put penny stocks on roller coaster rides
Advance Synergy Bhd was the most actively traded stock for the week with 1.61 billion shares changing hands. The trading volume was more than the company’s issued share capital of 929 million shares.

political-theme play put penny stocks on roller coaster rides
MUI Group-related companies were the targets for political theme play during the week on news that PKR Chief Datuk Seri Anwar Ibrahim had an audience with the King.Malayan United United Industries Bhd (MUI ) and Pan Malaysia Holdings Bhd were among the top 30 most actively traded stocks this week — on account of them being seen as having links to the leader of the Opposition.However, these stocks have fallen as fast as they climbed. They were also among the top percentage losers for the week as well. For the week, MUI fell nearly 18%, Pan Malaysia Holdings shed 24.3% while Advance Synergy was down 26.4%.

Analysts opine these point to the continuous strong demand for protective personal equipment, including rubber gloves.

Sabah appears to be the hotbed with daily new confirmed cases at above 200 cases. Currently the active confirmed cases, which carry high transmission risks, climbed to 6,323 — the highest level since the outbreak in March.

Rubberex Corp (M) Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd, Comfort Glove Bhd, and Kossan Rubber Industries Bhd were among the top gainers this week. Globally, the COVID-19 pandemic is challenging Governments, with many countries, such as France, looking at re-implementing lockdowns and more stringent curbs to contain the spread of the deadly virus that has killed 1.1 million people worldwide.

Against the backdrop of resurgence of COVID-19 cases, the climb on Malaysian rubber glove stocks is regaining momentum.That the rubber glove manufacturers dominated the top gainers (in value) list says it all about the persistent buying interest.

FIVE makes debut as one-stop petrol retailer for Malaysians
KUALA LUMPUR (Oct 16): FIVE Petroleum Malaysia Sdn Bhd, a new oil company in Malaysia with a focus on localisation, has officially announced its entry into the local petrol retail industry.
Chairman Datuk Juhari Abdul Ghani said the company received its operating licence from the Ministry of Domestic Trade and Consumer Affairs on Jan 15, 2020, and set up its first petrol station on March 7, 2020 in Selangor.
“Early this year, FIVE was in the midst of its building plans after acquiring the licence when the pandemic hit. In compliance with local regulations, FIVE had slowed down its building plans.
Juhari said the company's vision is to develop FIVE as Malaysia’s most competitive and promising local brand and is identifying the most suitable locations in Malaysia to set up modern, high-tech, one-stop petrol stations, and provide Malaysians with the best refuelling experience.
"Due to factors such as population density, location, economic activities, and resources, petrol retail brands rarely consider rural areas as a place to set up stations. For this reason, people who live in remote areas often lack petrol supply.
“FIVE is founded to address this issue. We hope to bring more petrol stations to more locations, so even residents in rural areas can enjoy the technology and convenience offered by FIVE," he explained.
FIVE managing director Datuk Seri Dr King Lim Chin Fui said as a proponent of digitisation in Malaysia, FIVE has also equipped every petrol station with artificial intelligence (AI) and digitised facilities, such as vehicle plate recognition.
"We not only digitalise how the petrol retail business has been done, we digitalise the entire business from the cloud POS (point-of-sale) system, mobile loyalty platform and also enables digital payments technology which uses AI (facial and licence plate recognition) - cashless payment, to bring this to the whole of Malaysia," he said.
He said FIVE has also charted a brand new roadmap for interested entrepreneurs, paving an easier path by lowering the requirements for operating a petrol station.
"FIVE will offer a faster and easier path for interested entrepreneurs. By lowering the requirements, more people will be able to join the petrol retail industry, ultimately benefitting consumers," he added.
Meanwhile, Nanta congratulated FIVE for making its launch and said the oil company is a completely local brand.
"Its purpose is in line with the government’s call to purchase local products. This limits the flow of the ringgit outside of Malaysia, and stimulates internal demand," said the minister.
The company plans to set up 200 FIVE petrol stations in the country within three years, bringing shared prosperity to people of all races, in all locations.
The goal is to move towards Industrial Revolution 4.0 together as a nation, and brings fresh prospects for the local petrol retail industry.

AirAsia X to liquidate Indonesian ops amid woes
(Oct 17): AirAsia X Bhd is liquidating its Indonesian arm in a bid to survive the Covid-19 pandemic that has left the low-cost airline’s planes grounded since late March.
The long-haul arm of AirAsia Group Bhd has also written down its 49% stake in Thai AirAsia X, the airline’s deputy chairman Datuk Lim Kian Onn said in an interview with The Star newspaper.
These efforts come amid AirAsia X’s proposed restructuring plan to wipe out almost RM63.5 billion in debt and save it from a collapse. The proposal requires approval from investors and creditors.
Initial negotiations with creditors were tough as they were understandably upset, Lim said in the interview. They had asked for better terms, including free equity for forgiven debt — something that would be impossible for the airline to fulfil, he added.
Still, Lim said all of them genuinely want to find a common ground to take the airline forward. “No one has anything to gain from our demise,” he told the newspaper.
The airline is planning to resume flights in the first quarter (1Q), though the process remains “dynamic”, said Lim. Should the rescue plan be approved, the company will have to renegotiate every single contract and do its best to look after all stakeholders’ interests, he said.

Alasan Ingin Cari Kerja, Polis Halau Warga Asing Pulang Rumah
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别再相信假新闻了，限行令详情一次看懂
https://www.youtube.com/watch?v=9mkMrndn0JE

别再相信假新闻了，限行令详情一次看懂
https://www.youtube.com/watch?v=9mkMrndn0JE

别再相信假新闻了，限行令详情一次看懂
https://www.youtube.com/watch?v=9mkMrndn0JE

别再相信假新闻了，限行令详情一次看懂
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corona virus impact tourism

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CLiteHD is a cloud based Software as a Service (SaaS) that provides browser and mobile applications with real time multimedia communication and data collaboration capabilities. CLiteHD has been optimized to work best on Google Chrome browser. Unlike conventional video conferencing and messenger software, CLiteHD does not require additional installations. The browser-based behavior enables CLiteHD to be launched or accessed via most operating system platforms, with high definition video conferencing & crystal clear audio sessions, to be done anytime, anywhere!


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SoftBank Group Corp own Ping An Insurance
Ping An Insurance own Adamas Ping An Opportunities Fund
Adamas Ping An Opportunities Fund invest tech company in asia

SoftBank Unveils $108 Billion Vision Fund 2
SoftBank Group Corp.’s founder Masayoshi Son unveiled a second enormous fund for technology investments, seeking to extend his reign as the most influential investor in the industry. The Japanese conglomerate aims to raise a total of $108 billion for the second Vision Fund, which would make it even larger than the first, unprecedented $100 billion effort.
https://www.youtube.com/watch?v=a7yvsF7eDM4

SoftBank Group Corp 孫正義
https://www.youtube.com/watch?v=vzmi-SxHJ_I

SoftBank Group Corp is a Japanese multinational conglomerate holding company headquartered in Tokyo. The company owns stakes in Softbank Corp. (ja), Softbank Vision Fund (ja), Arm Holdings, Fortress Investment Group, Boston Dynamics, Sprint (85%), Alibaba (29.5%), Yahoo Japan (48.17%), Brightstar (87.1%), Uber (15%), Didi Chuxing (ca.20%), Ola (ca.30%), Renren (42.9%), InMobi (45%), Hike (25.8%), Snapdeal (ca.30%), Fanatics (ca.22%), Improbable Worlds (ca.50%), Paytm (ca.20%), OYO (42%), Ping An Insurance (7.41%), Slack Technologies (ca.5%), WeWork (ca.80%), Zhongan Online P&C Insurance [zh] (5%), Compass (ca.22%), AUTO1 Group (ca.20%), Wag (45%), Katerra (ca.28%), Cruise Automation (ca.19.6%), ParkJockey, Tokopedia (Indonesia), and many more companies. It also runs Vision Fund, the world's largest technology-focused venture capital fund, with over $100 billion in capital

SoftBank Group Corp owns stakes in:Didi Chuxing (ca.20%)Ping An Insurance (7.41%)
https://www.youtube.com/watch?v=nnF3wbdHwfQ

Jessica Tan, Deputy Group CEO, Group COO and CIO, Ping An Insurance (Group) Company of China, Ltd. on financial innovation. Strength, Insight, Solutions: How Financial Innovation is Changing Our World From shaping the retirement system for future generations to adding key insights in the fight against cancer, financial innovations are changing the world. In this session, leaders in academia and the innovation economy will map the history of this dynamic field, and provide a glimpse of its exciting future.
The Summit brought together leaders in industry, government and academia to explore some of the most exciting topics at the frontiers of science and technology and the role of research and education in shaping tomorrow’s world. The Summit highlighted the importance of U.S.-Chinese collaborations in the effort to solve the complex challenges the world faces today. .https://www.youtube.com/watch?v=EGqadx4azgA

Ping An co-CEO on the Chinese giant's transformation from insurance to technology Managing Asia https://www.youtube.com/watch?v=qTusLc-M5d4

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Will O&G share rally continue?
November 07, 2019

KUALA LUMPUR: Shares in oil and gas (O&G) companies rose further yesterday as the run-up since the start of the year continued, supported by the optimism of a pick-up in domestic activity.
However, it remains to be seen whether the uptrend will continue in the near term.
Year to date, the Bursa Malaysia Energy Index has risen 45% from 820.36 points at the start of the year, to 1,196.49 yesterday.
Among the top gainers so far this year are KNM Holdings Bhd (up 506.67%), Dayang Enterprise Holdings Bhd (up 251.85%), Petra Energy Bhd (up 245.68%) and Carimin Petroleum Bhd (up 228.4%).
The rise in O&G counters has not been in tandem with crude oil prices, seeing as Brent crude futures had retreated from around US$74 per barrel in April to around the US$60 per barrel in the second half of the year. At the time of writing, Brent crude was trading at US$62.50 (RM258.75) per barrel.
On the other hand, the share prices of these companies were driven by positive leading indicators, as well as national oil major Petronas’ guidance of higher capital expenditure (capex) in the latter half of the year.
UOB Malaysia analyst Kong Ho Meng pointed out that the leading indicator — the jack-up rig count — has seen an increase from earlier in the year, pointing to improvement in upstream activity.
He said the jack-up rig count across Malaysia and the Joint Development Area have increased from nine in February to 16 in September this year.
“These 16 finally meet the high 16 to 19 jack-up rig demand outlook forecast that Petronas stated in their Activity outlook 2019-21.
“Petronas specifically said that the high rig demand is due to higher need for brownfield activities. Hence, brownfield and maintenance players like Dayang are guiding exceptionally strong 3Q,” said Kong.
However, whether the climb in O&G stocks can be sustained depends on the upcoming Petronas activity outlook for 2020-2022, likely to be released in December, he said.
“Otherwise, stock earnings might decline and investors should take profit,” he said.
In a recent note dated Nov 4, Affin Hwang Capital analyst Tan Jianyuan had advocated for investors to take profits amid the sector run-up, as the fourth and first quarters of the year are seasonally weak periods amid the monsoon.
He said that corporate earnings will be the focus this month and that maintenance and rig players could post stronger third-quarter results, benefiting from higher job flows.
“We gather that offshore maintenance players are likely to post strong 3QFY19 profits. These include maintenance, construction, modification contract beneficiaries like Deleum Bhd, Carimin, Dayang and Petra Energy,” said the analyst.
Tan said the research house prefers companies with more exposure to brownfield work with good earnings visibility, including Dialog Group Bhd, Serba Dinamik Holdings Bhd, Velesto Energy Bhd, Bumi Armada Bhd and Kelington Group Bhd.
“However, in view of the recent sector run-up and some stocks under our coverage nearing its fair values, we recommend to take profit on upcoming strong third quarter results announcements as the fourth and first quarters are seasonally weak due to monsoon,” he said.
He also highlighted that Petronas had significantly underspent on capex in the first half of the year, totalling RM16 billion or 32% of its full-year commitment of RM50 billion.
Petronas had maintained its guidance of RM50 billion capex spending for the year, half of which is allocated for domestic projects, which Tan said indicates its commitment to roll out more contracts in the coming months.
“We believe activities will remain robust, with domestic upstream capex also guided to be higher at RM15 billion versus RM8 billion in 2018,” he said.

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IFCA in MoU with Huawei to explore AI, big data
KUALA LUMPUR (Oct 22): IFCA MSC Bhd has today entered into a non-legally binding memorandum of understanding (MoU) with Huawei Services (Hong Kong) Co Ltd to jointly explore DevOps, cloud artificial intelligence (AI), big data and innovative technology knowledge sharing projects.
In a Bursa Malaysia filing today, IFCA said the MoU aims to record its and Huawei's initial intent and that it is their intention to enter into definitive agreements on the planned cooperation.
"This MoU is governed by and construed in accordance with the laws of Malaysia in all respects, including matters of construction, enforcement and performance thereof and the Malaysian courts shall have exclusive jurisdiction," IFCA said.
IFCA said that upon expiry of the MoU's initial period, the MoU will be automatically extended for a one-year period. IFCA said the company and Huawei may terminate the MoU by giving appropriate written notice to the other party.
Trading in IFCA shares was suspended from 9am till 12:30pm today in conjunction with the announcement, said the group in separate Bursa filings.
IFCA's share trade will resume from 2:30pm today, the company said. Yesterday, IFCA's share price closed at 38.5 sen.

digitalization economy.....