Moderna Inc said on Thursday its Covid-19 shot was about 93per cent effective through six months after the second dose, showing hardly any change from the 94per cent efficacy reported in its original clinical trial. However, it said it still expects booster shots to be necessary ahead of the winter season as antibody levels are expected to wane. It and rival Pfizer Inc and BioNTech SE have been advocating a third shot to maintain a high level of protection against Covid-19. During a second-quarter earnings call, Moderna CEO Stephane Bancel said that the company would not produce more than the 800 million to 1 billion doses of the vaccine that it has targeted this year. “We are now capacity constrained for 2021, and we are not taking any more orders for 2021 delivery,” he said. Moderna shares fell 3.6per cent to around $403.87 (S$545.36) in pre-market trading after closing at $419.05 on Wednesday. The Moderna data compares favourably to that released by Pfizer and BioNTech ... » Learn More about Moderna says its Covid-19 shot 93% effective 6 months after second dose
Thailand Issues Latest US$1.3 Billion Stimulus Package
On July 16, 2021, Thailand issued its latest stimulus package valued at 42 billion baht (US$1.3 billion), which provides financial assistance to businesses and people located in the 10 provinces impacted by lockdown measures due to the unprecedented increase in COVID-19 cases . From the 42 billion baht (US$1.3 billion), 30 billion baht (US$902 million) has been allocated for cash handouts, with the remaining budget being allocated to water and electricity subsidies. Moreover, employers and employees in the following sectors will receive financial aid: Construction; Hotel and food services; Arts, entertainment and recreation; Auto retail and repair services; Cargo transport; Management and support activities; Science and academic activities; News and information and communication; and Other types of service businesses. The World Bank predicts that Thailand’s economy will expand modestly for 2021 at 2.2 percent, revised from 3.4 percent, as the economy ... » Learn More about Thailand Issues Latest US$1.3 Billion Stimulus Package
Letters sent to Umno MPs: State where you stand or face the music
PETALING JAYA: The political temperature appears to have heated up after letters were sent to Umno MPs on Thursday (Aug 5), demanding them to declare whether they are together with the party in retracting support for the Perikatan Nasional government. It is understood that these letters were sent to all Umno MPs on Thursday (Aug 5) evening. Should the Umno MPs refuse to comply with the party's stance on retracting support for Tan Sri Muhyiddin Yassin as Prime Minister, action will be taken against them under Article 20 of the Umno constitution, which deals with party discipline. It is also understood that these letters were hand-delivered to Umno MPs on Thursday evening. Padang Rengas MP Datuk Seri Nazri Aziz (pic) , when contacted, confirmed that he received the letter at 6pm. "I will not be replying to that letter," he said briefly. Nazri reminded MPs that Muhyiddin's parliamentary majority will be determined in September, and the Prime Minister had said this was ... » Learn More about Letters sent to Umno MPs: State where you stand or face the music
Tiga Budak Gemok files suit over copyright infringement against rival business
KUALA LUMPUR: Popular food brand Tiga Budak Gemok (TBG) has filed a suit against an individual over misrepresentation and copyright infringement. Tiga Budak Gemok Sdn Bhd named Mohd Anil Mohamad and his two companies - MAAM Baraka Venture Sdn Bhd and Day Food Industry Sdn Bhd - as the first, second, and third defendants, respectively. The TBG food business is owned by three siblings who are directors in the company, namely Natasha Helwa Ramlee, Muhammad Rafeel Ramlee and Natalia Ramlee, and is famous for its sambal kicap (soy sauce sambal) chicken dish served with white rice. In its statement of claim, the plaintiff said Mohd Anil, who is Natasha's ex-husband, had opened a similar business and sold a similar dish of sambal kicap chicken. The plaintiff claimed that Mohd Anil was allowed to open a 3BG branch in Bangi by the directors, as he was one of the family members. However, after Natasha and Mohd Anil divorced, the branch was closed and Mohd Anil opened a new eatery ... » Learn More about Tiga Budak Gemok files suit over copyright infringement against rival business
Impiana gets Petronas job
PETALING JAYA: Impiana Hotels Bhd has secured a five-year contract to manage Petroliam Nasional Bhd’s (Petronas) leadership centre in Bangi, Selangor. In a statement, the hospitality operator said its wholly owned subsidiary Impiana Hotels & Resorts Management Sdn Bhd has received a letter of award from Petronas’ wholly owned subsidiary, Petronas Management Training Sdn Bhd, for the provision of hospitality management services to manage the operational matters of Petronas’ new campus in Bangi. The contract period would be for five years, starting from Aug 1, 2021. The scope of work included general and administration matters, food and beverage services, housekeeping, room and banqueting services, finance and human resources management as well as other hospitality works. ... » Learn More about Impiana gets Petronas job
AmInvest takes top spots at annual fund management awards
KUALA LUMPUR: AmInvest took three top spots in Malaysia at the Alpha Southeast Asia 12th Annual Fund Management Awards 2021. In a statement on Thursday, AmInvest said it was adjudged “Best Overall Asset & Fund Manager, Malaysia” for the fourth consecutive year; “Best Asset Manager (Fixed Income), Malaysia” for the second consecutive year and “Best Fund with the Optimal Information Ratio, Malaysia”. Group chief executive officer of AmBank Group, Datuk Sulaiman Mohd Tahir said: “Our investment teams’ ability to apply the appropriate investment strategies to quickly respond to market volatility brought on by the Covid-19 pandemic, enabled us to add value to our investors’ portfolios while meeting their immediate needs. “We are truly honoured to be recognised for our fund management expertise against this backdrop and would like to thank our clients for staying invested with us as we navigate an unprecedented investment landscape.” Sulaiman said the awards acknowledge AmInvest ... » Learn More about AmInvest takes top spots at annual fund management awards
Privasia unit gets contract from Redberry
PETALING JAYA: Privasia Technology Bhd ’s unit has been awarded a contract to supply technology and managed services to Redberry Contact Center Sdn Bhd’s call centre operations. In a filing with the stock exchange, the company said the contract awarded to its wholly-owned subsidiary Privasia Sdn Bhd (PSB) yesterday came with a ceiling price of RM6.17mil. The duration of the contract is for one year and not subject to renewal, it said. Privasia said the contract was expected to contribute positively to its earnings and net assets for the financial year ending Dec 31, 2021 and beyond. ... » Learn More about Privasia unit gets contract from Redberry
Honda vehicle sales for May-July period declines 52% year-on-year
KUALA LUMPUR: Honda Malaysia’s car sales declined by 52 per cent year-on-year from May to July 2021 as its business operations were affected by the implementation of the Full Movement Control Order (FMCO) by the government due to the drastic rise in COVID-19 cases. In a statement today, managing director and chief executive officer Madoka Chujo said the company sold about 5,700 units during the period compared to close to 12,000 units sold in the same period last year when the country was under the Conditional MCO and Recovery MCO. "With only certain after-sales services allowed and sales and manufacturing operations halted, it is no surprise that sales had plunged, and the prolonged business closure has also impacted Honda Malaysia’s new model production due to no testing conducted in the manufacturing facility. "Furthermore, the company’s supply chain and exportation of parts are also affected,” she said. She highlighted that the automotive industry supports a wide network of ... » Learn More about Honda vehicle sales for May-July period declines 52% year-on-year
Singapore banks signal growth slowdown
SINGAPORE: Singapore lenders Oversea-Chinese Banking Corp (OCBC) and United Overseas Bank (UOB) beat profit estimates, driven by recovery in core markets, but their sequential performance slowed sharply, underscoring challenges to maintain growth. Prospects in Singapore’s banking sector have improved as a rebounding economy has boosted demand for mortgages and loans, while booming markets bolstered the wealth management business. At the same time, OCBC and UOB joined global peers such as HSBC and Standard Chartered in signalling strong asset quality after last year’s huge provisions in the face of the coronavirus pandemic. “The banks’ ample reserves and improved earnings provide them with very good buffers,” said Eugene Tarzimanov, senior credit officer at Moody’s Investors Service, who expected a moderate increase in the two banks’ non-performing loans over the rest of 2021 and 2022, particularly in foreign operations. OCBC, Singapore’s second-biggest bank, reported net profit ... » Learn More about Singapore banks signal growth slowdown
LPI Capital reports higher 2Q net profit, dividend 29 sen a share
KUALA LUMPUR: LPI Capital Bhd reported higher net profit of RM83.29mil in the second quarter ended June 30, 2021 (2Q21), boosted by an increase in earnings from the general insurance segment as underwriting profit expanded. It reported on Thursday its net profit rose by 8.4% from RM77.40mil I 2Q20 Its revenue increased by 5.1% to RM419.99mil from RM399.54mil. Earnings per share were 21.07 sen compared with 19.43 sen. It declared a first interim single tier dividend of 29 sen per share which will go ex on Aug 20. Elaborating on the 2Q21 results, it said profit before tax of the group grew by 9.6% to RM109.90mil from RM100.30mil a year ago. LPI Capital said the growth was contributed by profit from the general insurance segment, which increased by 10.2% to RM111.7mil from RM101.4mil a year ago. Underwriting profit in 2Q21 increased by 23.6% or RM16.90mil to RM88.40mil from RM71.50mil previously, mainly contributed by the lower net claims incurred as compared to a year ago. ... » Learn More about LPI Capital reports higher 2Q net profit, dividend 29 sen a share