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2021-11-24 12:16 | Report Abuse
Group warns that tens of thousands of Malaysians to go bankrupt next year with end of govt financial aid packages
KUALA LUMPUR, Nov 24 — Many people in the country aged between 30 and 45 will go bankrupt next year when most of the government aid packages end, according to the Malaysian Association of Borrowers and Consumers Solution (4PM).
Its president Rosland Mohd Arif said when loans, bank moratoriums and withdrawals from Employee Provident Fund (EPF) and the i-Sinar packages come to an end next month, many will resort to borrowing from loan sharks to survive.
“I’m receiving bankruptcy calls everyday nationwide. If 30 calls per day, that’s 900 per month and 10,800 per year. That’s just me though I haven’t included my officers yet,” he told.
Yesterday, EPF chairman Tan Sri Ahmad Badri Mohd Zahir cautioned that the majority of its members are now at risk of falling into old-age poverty as Covid-19 related withdrawals have caused insufficient savings to live out a dignified retirement life.
The fact, Ahmad said, is that 48 per cent of EPF members below the age of 55 have critically low EPF savings.
This is a 28 per cent increase in members reaching critically low EPF savings from before the pandemic.
Utusan Malaysia reported Rosland urging the government to intervene and help those in need before they go to loan sharks for help.
“If the government is willing we can be their representative in helping solve these bankruptcy issues by being the mediator so these individuals don’t get cheated by the bank or be threatened by the loan sharks,” he added.
“I’ve received reports of people being threatened by these loan sharks who have exorbitant interest rates, as much as 6 per cent a month. They also often harass the borrower and their family.”
2021-11-24 12:12 | Report Abuse
Inari in, Hap Seng out in FBM KLCI's December tweak?
KUALA LUMPUR: There will likely be changes to the flagship index of Bursa Malaysia's 30 biggest companies next month, following FTSE Russell Malaysia's final semi-annual review for this year.
Hap Seng Consolidated Bhd might be taken out from among 30 constituents of Bursa Malaysia's benchmark FBM KLCI, according to Kenanga Research.
In its place will most likely be Inari Amertron Bhd.
Kenanga Research noted that Nov 22 was the cut-off date for the FTSE Russell Malaysia's final semi-annual review of 2021.
"Data as of yesterday's close will determine the updated constituents of the FBM Index series that will be published on Thursday 2nd December and to be implemented effective Monday 20th December.
"Among the big caps, we expect Hap Seng (unrated) to be removed from the FBM Index series on the grounds of falling below the required liquidity threshold," Kenanga Research's Koh Huat Soon said in a report yesterday.
At the closing prices as at Monday's cut-off date, Hap Seng was ranked 25th by market capitalisation. But the diversified group is likely to be disqualified on grounds of insufficient liquidity.
"The ground rules state that to remain in the FBM Index series, a member stock must turn over at least 0.04 per cent of its free-floating shares in issue, based on its median monthly trading volume for at least 8 of the 12 months prior to the semi-annual review.
"For Hap Seng, (its) trading liquidity fell below the required threshold towards the end of review period for five straight months. The median turnover exceeded 0.04 per cent only for six of the last 12 months. As such, it appears to us that Hap Seng has failed to satisfy the minimum liquidity threshold," Koh said.
Kenanga Research said Inari is currently the largest non-FBM KLCI constituent with the requisite free float and liquidity.
If admitted, Inari would be the sole technology component in the index, the firm added.
"Based on Inari's represented index shares of 2,275.58 million at the current price of RM4.24 versus Hap Seng's 649.52 million at RM7.70, we estimate that Inari would come in at around 1.97 per cent weight versus Hap Seng exiting at 1.03 per cent weight.
"The final figures will however, be based on closing prices on Friday, December 17, after which the new list will be first reflected at the start of trading on Monday, December 20," Koh said.
Kenanga Research said at RM4.24, Inari was the 30th largest by market capitalisation and the company needed to remain at least above 36th to avoid direct removal in the next review round.
"Whether Inari can remain in the FBM KLCI beyond just one semi- annual period would depend on, among others, whether it can remain above 36th position in size, dropping below which it will be dropped according to the rules," Koh said.
This was the case with Supermax Corp Bhd which fell off in the June 2021 review just six months after admission in December 2020.
"Our tech analyst Samuel Tan is bullish on Inari, setting a target price of RM4.80 (13 per cent upside), reinforcing our confidence that Inari is likely to remain in the FBM KLCI for the long haul," Koh added.
© New Straits Times Press (M) Bhd
2021-11-24 12:11 | Report Abuse
Inari in, Hap Seng out in FBM KLCI's December tweak?
KUALA LUMPUR: There will likely be changes to the flagship index of Bursa Malaysia's 30 biggest companies next month, following FTSE Russell Malaysia's final semi-annual review for this year.
Hap Seng Consolidated Bhd might be taken out from among 30 constituents of Bursa Malaysia's benchmark FBM KLCI, according to Kenanga Research.
In its place will most likely be Inari Amertron Bhd.
Kenanga Research noted that Nov 22 was the cut-off date for the FTSE Russell Malaysia's final semi-annual review of 2021.
"Data as of yesterday's close will determine the updated constituents of the FBM Index series that will be published on Thursday 2nd December and to be implemented effective Monday 20th December.
"Among the big caps, we expect Hap Seng (unrated) to be removed from the FBM Index series on the grounds of falling below the required liquidity threshold," Kenanga Research's Koh Huat Soon said in a report yesterday.
At the closing prices as at Monday's cut-off date, Hap Seng was ranked 25th by market capitalisation. But the diversified group is likely to be disqualified on grounds of insufficient liquidity.
"The ground rules state that to remain in the FBM Index series, a member stock must turn over at least 0.04 per cent of its free-floating shares in issue, based on its median monthly trading volume for at least 8 of the 12 months prior to the semi-annual review.
"For Hap Seng, (its) trading liquidity fell below the required threshold towards the end of review period for five straight months. The median turnover exceeded 0.04 per cent only for six of the last 12 months. As such, it appears to us that Hap Seng has failed to satisfy the minimum liquidity threshold," Koh said.
Kenanga Research said Inari is currently the largest non-FBM KLCI constituent with the requisite free float and liquidity.
If admitted, Inari would be the sole technology component in the index, the firm added.
"Based on Inari's represented index shares of 2,275.58 million at the current price of RM4.24 versus Hap Seng's 649.52 million at RM7.70, we estimate that Inari would come in at around 1.97 per cent weight versus Hap Seng exiting at 1.03 per cent weight.
"The final figures will however, be based on closing prices on Friday, December 17, after which the new list will be first reflected at the start of trading on Monday, December 20," Koh said.
Kenanga Research said at RM4.24, Inari was the 30th largest by market capitalisation and the company needed to remain at least above 36th to avoid direct removal in the next review round.
"Whether Inari can remain in the FBM KLCI beyond just one semi- annual period would depend on, among others, whether it can remain above 36th position in size, dropping below which it will be dropped according to the rules," Koh said.
This was the case with Supermax Corp Bhd which fell off in the June 2021 review just six months after admission in December 2020.
"Our tech analyst Samuel Tan is bullish on Inari, setting a target price of RM4.80 (13 per cent upside), reinforcing our confidence that Inari is likely to remain in the FBM KLCI for the long haul," Koh added.
© New Straits Times Press (M) Bhd
2021-11-24 12:05 | Report Abuse
KUALA LUMPUR, Nov 24 — Many people in the country aged between 30 and 45 will go bankrupt next year when most of the government aid packages end, according to the Malaysian Association of Borrowers and Consumers Solution (4PM).
2021-11-24 12:05 | Report Abuse
KUALA LUMPUR, Nov 24 — Many people in the country aged between 30 and 45 will go bankrupt next year when most of the government aid packages end, according to the Malaysian Association of Borrowers and Consumers Solution (4PM).
2021-11-24 12:03 | Report Abuse
KUALA LUMPUR, Nov 24 — Many people in the country aged between 30 and 45 will go bankrupt next year when most of the government aid packages end, according to the Malaysian Association of Borrowers and Consumers Solution (4PM).
2021-11-24 12:03 | Report Abuse
KUALA LUMPUR, Nov 24 — Many people in the country aged between 30 and 45 will go bankrupt next year when most of the government aid packages end, according to the Malaysian Association of Borrowers and Consumers Solution (4PM).
2021-11-24 12:02 | Report Abuse
KUALA LUMPUR, Nov 24 — Many people in the country aged between 30 and 45 will go bankrupt next year when most of the government aid packages end, according to the Malaysian Association of Borrowers and Consumers Solution (4PM).
2021-11-24 12:00 | Report Abuse
UK probing Supermax over forced labour allegations
KUALA LUMPUR (Nov 24): The UK government has launched an investigation into one of its National Health Service's (NHS) main suppliers of personal protective equipment — Supermax Corp Bhd, over allegations of forced labour.
Citing officials at the UK Department for Business, Energy and Industrial Strategy (BEIS), the Guardian earlier this week reported that they are investigating Supermax, which won a £316 million (RM1.78 billion) contract for 88.5 million rubber gloves amid the Covid-19 pandemic.
The investigation comes one month after the US Customs and Border Protection (CBP) said it would detain imports of disposable gloves produced by Supermax on forced labour allegations.
According to the Guardian, the UK government has initiated its own inquiry after Jeremy Purvis, a Liberal Democrat peer, demanded scrutiny of Supermax and action to ensure that products made using modern slavery are not used in Britain.
“We take allegations of this nature very seriously and we are investigating the claims made against Supermax. We have made strong commitments to eradicate modern slavery from all contracts in the government supply chain,” the Guardian reported a government spokesperson as saying.
The report said the government made clear that the investigation could lead to Supermax being banned from supplying the NHS.
“A proper due diligence process is carried out for all government contracts and our suppliers are required to follow the highest legal and ethical standards. If they fail to do so we will remove them from current and future contracts,” the report cited the spokesperson as saying.
The Guardian said Supermax did not respond to requests to respond.
At 10.35am, Supermax was unchanged at RM1.75, valuing the group at RM4.63 billion. Year-to-date, the counter has tumbled 68.42%.
2021-11-24 09:14 | Report Abuse
Relax....tunggu masa sesuai untuk sapu.
2021-11-24 09:00 | Report Abuse
Kesian...ramai dah sangkut ni..
2021-11-24 08:58 | Report Abuse
Hari bang Brahim jangan buat gila ye...
2021-11-24 08:55 | Report Abuse
Selamat pagi...kopi dulu
2021-11-23 22:32 | Report Abuse
Many factors likely contributed to the collapse of the stock market...
2021-11-23 22:21 | Report Abuse
people dont have the money they had last year...
2021-11-23 17:07 | Report Abuse
kaunter2 yg macam ni saya masuk setengah hari je...kalau lebih dari satu hari...takut tak boleh tidur..haha
2021-11-23 16:29 | Report Abuse
ramai retailer dah rugi teruk...
2021-11-23 15:45 | Report Abuse
sentimen tidak stabil di pasaran luar.
2021-11-23 15:36 | Report Abuse
sold all 1.25...jadi la buat breakfast esok..haha
2021-11-23 15:19 | Report Abuse
Saya sapu 1.18....harap ada breakfast esok...haha
2021-11-23 15:12 | Report Abuse
tunggu la 0.015 baru sapu...haha
2021-11-23 14:48 | Report Abuse
Bilis dah banyak masuk pukat ni....tunggu dulu.
2021-11-23 14:35 | Report Abuse
sabar...masih mengintai lagi ni...haha
2021-11-23 11:07 | Report Abuse
Iklan kejap...
Sep21 0.130 - 0.065
Oct21 0.060 - 0.050
Nov21 0.045 - 0.035
Dec21 0.035 - 0.025
Jan22 0.025 - 0.015
2021-11-23 10:13 | Report Abuse
This morning sudah ada breakfast 2k..cukup la...haha
2021-11-23 09:50 | Report Abuse
Cantikkkk..sudah boleh dinner lobster haha
Stock: [PASUKGB]: PASUKHAS GROUP BERHAD
2021-11-24 16:53 | Report Abuse
Daripada kamu beku disini...baik la pergi di counter lain dulu..macam G3..hari ini saya sudah bawak balik untuk dinner 5 figure...syukur.