Dataprep signs IP rights agreement
Under the agreements signed on June 26, Zenith City Management Services (Sichuan) Co Ltd committed to fulfilling the entire payment obligation to QXDT in exchange for the exclusive rights to use the IP assets.
Dataprep is involved in the development and maintenance of underground telecommunication infrastructure in Bandung, Indonesia, as well as the construction of a telecommunication microcell pole for a 30-year concession period.
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New Straits Times
13 hours ago
- New Straits Times
Analysts flag Nestle, F&N, Farm Fresh, Mr DIY as stimulus winners
KUALA LUMPUR: The recently announced government stimulus is expected to provide a modest boost to Malaysia's consumer sector by supporting short-term spending, particularly on essential items and value-focused retail. CIMB Securities said food and beverage (F&B) producers like Nestle (M) Bhd, Fraser & Neave Holdings Bhd, QL Resources Bhd, and Farm Fresh Bhd are likely to benefit from increased demand for staple F&B products, many of which may be eligible for purchase using the RM100 credit. "Other retailers such as Mr DIY Group (M) Bhd, Padini Holdings Bhd, Aeon Co (M) Bhd, Yoong Onn Corporation Bhd, Bonia Corporation Bhd, Berjaya Food Bhd, and 7-Eleven Malaysia Holdings Bhd, could see improved footfall and higher spending per customer as disposable incomes increase, amplified by the recent 25 basis point overnight policy rate cut to 2.75 per cent," it said. CIMB Securities said that within the consumer sector, it remains in favour of companies that benefit from the steady demand for everyday essentials and are well-positioned to tap into consumer downtrading by targeting the mass-market segment. It expressed a positive view on the consumer sector following Prime Minister Datuk Seri Anwar Ibrahim's recent announcement of new fiscal support measures. However, the research house is maintaining its current earnings forecasts, noting that the fiscal measures are already in line with its existing revenue growth assumptions for the companies under its coverage. It reiterated a "Neutral" stance on the sector, which is trading at 27.2 times one-year forward price to earnings ratio, slightly more than one standard deviation below its five-year average of 29.1 times. CIMB Securities said current valuations appear reasonable, given the backdrop of subdued consumer sentiment, higher sales tax on discretionary goods, ongoing boycott-driven impact on certain companies such as Nestle (M) and Berjaya Food, as well as cost pressures from the widened Sales and Service Tax on rental expenses.
New Straits Times
2 days ago
- New Straits Times
NST Leader: Familiar story in AG's Report as billions lost without action
HERE we go again. "Serious irregularities" and "weaknesses" in ministries and government entities are back as national bad news. Our lawmakers must be outraged to hear such misuse of the public purse on the first day of the Dewan Rakyat session. Whatever the year, the Auditor General's Report on government entities bleeding red ink remains very much the same story. There have been years of lessons, yet none learnt. Neither has there been the will to hold errant officers to account. For a nation that is in debt to the tune of RM1.28 trillion and trying hard to pay it off, that is heartbreaking. Why no one has the will to put an end to such systemic failures in the public service has become an annual question. Let's be clear. We are not counting pennies here. We are talking of hundreds of millions of ringgit. Of the five audits conducted over the period of the 11th and 12th Malaysia Plans, the auditors found serious irregularities in three. The first is Felcra Bhd's governance failure in four plantations involving a total of RM241.76 million from 2022 to 2024. Don't fault us for asking: Aren't the top management and board members up to the task? The second, an audit on Universiti Kebangsaan Malaysia's tender process, though involving a smaller sum — RM58.45 million — disclosed a mind-bending outcome. There, the Tender Procurement Committee selected companies that were not recommended by the Technical Evaluation, Financial Evaluation and Pre-Tender Committees. One overrides three? There can't be a clearer example of a violation of tender procedures. The culprits must not be spared. The third audit relates to army vehicle contract mismanagement. There, RM162.75 million in penalties for late delivery of Gempita vehicle remains uncollected and RM1.42 million in penalties for service delays has yet to be enforced. If that wasn't enough, RM107.54 million in service procurement was split into smaller packages, circumventing regulations. The other two audits findings were related to subsidised cooking oil programme flaws under the Domestic Trade and Cost of Living Ministry and weaknesses in the government's pre-qualification procurement introduced by the Finance Ministry, bringing the total value of the five audits to RM48.873 billion. Transparency International Malaysia (TI-M) attributes the systemic breakdowns to three causes: outdated procedures, weak financial oversight and a culture of impunity. In our book, though, the culture of impunity is the root cause. Year after year leakages, wastages, irregularities and weaknesses have been highlighted by the Auditor General's Report, yet we hear little about the guilty being held accountable. Quiet slap on the wrists won't do. The government being transparent doesn't mean merely making the audit reports public, it must also be transparent about accountability. TI-M is right in calling on all implicated ministries and agencies to publicly disclose remedial actions within 30 days, covering recovery of funds, disciplinary measures and procedural reforms, to restore public trust. The Auditor General's Reports mustn't just be treated as something to be read and filed away. It must be a call to action. The Malaysian Anti-Corruption Commission must spring into action, if it hasn't already. Accountability is the best medicine against the cancer of impunity.
Borneo Post
2 days ago
- Borneo Post
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