Summary of top read stories from Oct 11 to 16


Sabah and Sarawak emerge as likely big construction winners in the upcoming Budget 2022.

Telekom Malaysia, unifi, Budget 2022, Petronas, Top Glove, AirAsia and Public Bank are among the top stories read in the week from Oct 11 to 16:

Telcos

TM to migrate unifi customers to private IP

  • Telekom Malaysia Bhd (TM) has started migrating its unifi customers to private IP to enable more seamless connectivity and better security.
  • The telco said the migration involved its unifi customers subscribing to unifi 30Mbps, 50Mbps and 100Mbps plans and currently on dynamic public IPv4 Internet Protocol (IP) addresses.
  • TM said the process would be executed remotely from its end, so the customers involved with this migration need not perform any action at their end.
Telcos post-5G rollout
  • Globally, telcos have been pouring billions of dollars into securing the spectrum via auctions, considering the need to offer high-speed, wireless Internet services.
  • In the case of Malaysia, the spectrum for 2G, 3G and 4G was not competitively auctioned in the past.
  • However, this time around for the 5G rollout, the telcos will not own the spectrum for the first time.
Corporate News

Petronas to take legal action over Sudan arrest

  • Petroliam Nasional Bhd (Petronas) will take legal recourse over the arrest of its former officer in Sudan.
  • PDOC, a JV company in Sudan in which Petronas has an interest, is pursuing legal recourse to cancel a wrongful warrant of arrest issued against its former officers relating to trade union claims made against PDOC.
  • It issued the statement after news reports emerged that Sudan had issued an arrest warrant against a Petronas top official, following news of Sudan's move to seize Petronas assets in the African nation.
Top Glove unveils plan to promote mental health
  • Top Glove said the programme was in conjunction with World Mental Health Day.
  • Initiated by the Top Glove Global Doctors (TGGD) mental health clinical and crisis support team, Top Glove said the programme would provide a comprehensive safety and wellness action plan for the group's employees.
  • As industry leaders, Top Glove founder and executive chairman Tan Sri Dr Lim Wee Chai said it was imperative for the group to be a role model in promoting corporate mental wellness.
Banking

Public Bank enhances digital business solutions

  • Public Bank's PB enterprise Digital SME Assist programme will enable businesses to enjoy a wide range of digital business solutions.
  • In a statement on Tuesday, it said this programme is part of the collaboration with several tech companies to offer a sustainable platform for business enterprise to grow by enhancing their digital capabilities in tandem with their business expansion.
  • Public Bank said it has identified pertinent areas for businesses in the current climate and collaborate with the solution providers in the fields of accounting, human resource, e-commerce, workforce, property management, digital marketing, mobile and network to assist the SME customers.
Budget 2022

Insight - Beware the tax audit microscope

  • What protocols do you have in place to actively manage and address tax risks to avoid tax disputes and exposures'.
  • Have you proactively and thoroughly documented your tax transactions and uncertain tax positions'.
  • Are analyses of your tax position well stated, complete and supported by relevant documentation'.

Sabah and Sarawak big winners in Budget 2022

  • Sabah and Sarawak emerge as likely big construction winners in the upcoming Budget 2022 as the government maintains its commitment under the 12th Malaysia Plan (12MP) to allocate additional budget to less developed states.
  • Analysts are anticipating allocation of funds to Sabah and Sarawak during the annual budget to be tabled on Oct 29 to construct and upgrade water, electricity, roads, healthcare and educational facilities.
  • The government will be prioritising less developed states and have earmarked 50% of the development expenditure over the five-year period towards six key rural states, namely, Kedah, Kelantan, Perlis, Sabah, Sarawak and Terengganu.
Economy

PM: Malaysia ready to return as regional, international investment hub

  • Malaysia is now ready to be back on track as an investment hub for both regional and international investors, driven by creative and innovative methods in encouraging investments implemented by the government.
  • The Twelfth Malaysia Plan (12MP) has outlined nine Focus Areas in revitalising Malaysia's investment.
  • Among others are in rejuvenating economic growth, strengthening economic enablers, improving social security, eradicating hardcore poverty and narrowing income gaps throughout the nation.
Minimal impact on banks
  • In collaboration with the Counselling and Credit Management Agency (AKPK), the Malaysian banking industry will collectively help eligible B50 customers in alleviating their financial difficulties.
  • Nevertheless, the banks' margins are expected to improve next year as the interest rate could increase.
  • Via the co-created RM1bil scheme called the Financial Management and Resilience Programme (Urus), customers will have either the option of an interest or profit waiver for three months commencing from the date of onboarding the scheme or a three-month interest or profit waiver with reduced instalments for a period of up to 24 months in total.
Aviation

AirAsia's airline holding company renamed AirAsia Aviation

  • AirAsia Investment Ltd, the holding company for the airline group, has been officially renamed AirAsia Aviation Ltd as AirAsia expands its portfolio to become a digital travel and lifestyle services group.
  • With the rebranding, the group hopes to create a clear distinction between the airline and digital businesses.
  • He added that the group has established a new AirAsia Consulting division tasked at reviewing new airline partnerships and franchise opportunities.
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