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Borneo Post
3 days ago
- Sport
- Borneo Post
Kuching Half Marathon Heritage Run 2025 draws 3,200 participants from 22 countries
Abdul Karim joins the winners of the Kuching Half Marathon Heritage Run 2025 for a group photo. – Photo by Roystein Emmor KUCHING (July 27): The second edition of the Kuching Half Marathon Heritage Run 2025 today attracted a total of 3,200 participants from 22 countries. Youth, Sports and Entrepreneur Development Minister Dato Sri Abdul Karim Rahman Hamzah, who officiated at the prize presentation ceremony at the Kuching South City Council (MBKS) compound, described the event as a very exciting initiative that continues to promote both sports and tourism in Sarawak. 'This is not the first time the event has received an overwhelming response. I was informed that the number of participants has grown from year to year,' he told reporters after presenting prizes to the winners. Of the 3,200 registered participants, 1,400 competed in the 21km half marathon, 700 in the 10km race, and 1,100 in the 5km fun run. Sarawakians made up the majority at 77 per cent, followed by 15 per cent from Peninsular Malaysia, two per cent from Sabah, and six per cent from overseas. International runners came from countries including Australia, Brunei, Canada, China, France, Germany, Japan, Kenya, Korea, and the United Kingdom. Held in conjunction with the Kuching City Day celebration, the event was organised by the Kuching City Joggers Club (CJC) in collaboration with MBKS. This year's edition is officially accredited by the Association of International Marathons and Distance Races (AIMS), with certified routes for the 21km and 10km categories. The 21km and 10km races were competitive, offering a total of RM54,600 in cash prizes, including a newly introduced national category to encourage local athletes. The 5km fun run was non-competitive and aimed at families and casual runners. All participants received an official event T-shirt, race bib, e-certificate and finisher's medal. Those who completed the 21km race also received a special finisher's T-shirt, while the top 100 finishers took home a limited-edition shirt. Abdul Karim noted that such sporting events have a positive impact on Sarawak's tourism sector. 'When runners come to Sarawak, they stay in hotels, eat at our local restaurants, and purchase souvenirs to bring home. These are the things that will help our tourism industry,' he said. Among this year's participants were an 82-year-old runner from Kuching and the oldest participant, an 86-year-old veteran from Ipoh who had served in Sarawak in the 1960s and returned to join the event with several friends. The race flagged off early this morning, with the 21km starting at 4am, followed by the 10km at 6am and the 5km fun run at 6.30am. A Zumba cooling-down session was held at 7.30am before the prize-giving ceremony at 7.45am. Abdul Karim congratulated the organisers and sponsors for a well-executed event and encouraged more corporate support for future editions. Abdul Karim Kuching Half Marathon Heritage Run 2025 lead
The Sun
5 days ago
- Business
- The Sun
Scams, mule accounts top threats to Apac banks
PETALING JAYA: A new industry poll by global analytics software leader Fico has found that scams and mule accounts have become the dominant threats facing banks across the Asia-Pacific (Apac). Seven in 10 (69%) senior banking executives identified these forms of criminal activity as their greatest concern, reflecting the continued rise of scams in which victims are tricked into sending money directly to criminals. Unlike traditional fraud, which typically involves unauthorised transactions that banks can detect and block, scams often bypass existing defenses because payments are authorised by the victim. Once the money is sent, criminals rely on mule accounts to quickly move funds across institutions and borders, making recovery extremely difficult. The findings echo a growing alarm across the financial ecosystem, as scam-related losses reach historic highs across the region. In 2024 alone, Singapore reported more than S$1.1 billion (RM3.6 billion) in scam losses, a 70% surge from the previous year. Thailand saw ฿60 billion (RM7.2 billion) in damages, while Malaysia's losses were estimated at a staggering RM54 billion, or nearly 3% of gross domestic product. Similar trends were reported in the Philippines and Indonesia, where scam-related activity now dominates cybercrime reports. In a statement yesterday, Fico, a company that is a pioneer in the use of predictive analytics and data science to improve operational decisions, said the poll found that more than half of banking leaders (52%) view social media platforms as the top external threat vector for scams, followed by messaging apps (35%). In a region with more than two billion social media users, platforms such as Facebook, TikTok, and Telegram have become key channels for targeting scam victims and recruiting money mules. It said that criminal syndicates use these platforms to impersonate officials, promote fake investments, or advertise bogus job opportunities. Many victims are lured into schemes that appear legitimate on the surface, while others are convinced to 'rent out' their accounts in exchange for quick cash, not realising they are enabling financial crimes. In Thailand, more than 200,000 mule accounts were shut down in a single year. Singapore has introduced legislation that criminalises the supply of mule accounts and gives banks and authorities powers to act in real-time. The poll also found banks face internal barriers to detecting and responding to scams. The most common issue cited was siloed data (46%), followed by a lack of connected insights across products and channels (28%), and limited real-time integration with third-party systems (13%). 'Scam activity is often fast, fluid, and fragmented,' said Fico managing director of Asia-Pacific Dattu Kompella. 'To respond effectively, banks need connected systems that provide a complete, realtime view of risk. Without breaking down internal silos and unifying insights across teams, many institutions will remain on the back foot.' The poll also explored bank leaders' views on reimbursing scam victims. Just 14% said banks should fully reimburse customers in all scam cases. Half said compensation should only apply when the bank is at fault, while 36% supported a shared responsibility model between banks and customers.
The Sun
21-07-2025
- Business
- The Sun
Southern Cable in line to win MRT3 deals: Apex Securities
KUALA LUMPUR: Southern Cable Group Bhd is well-positioned to secure a substantial share of the MRT3 cable supply package, building on its strong track record in MRT2, comprehensive product range, and established market leadership. In a recent report, Apex Securities Bhd estimated that, assuming a cable supply package valued at RM600 million, with 60% market share and a blended gross profit margin of 15%, Southern Cable could generate RM54 million in gross profit from MRT3—equivalent to 25% of the research firm's FY25 forecast. 'This would provide a meaningful uplift to earnings visibility over the medium term,' Apex said. The MRT3 project has received final approval from the Transport Ministry, enabling the land acquisition process to begin. The project is targeted for completion by end-2026. The MRT3 Circle Line will span 51km, comprising 31 stations. Construction is scheduled to begin in 2027, with full operations expected by 2032. In rail infrastructure projects, cable supply contracts are usually split across several key work packages including power supply systems, signalling and control systems, track works, and station components. As a reference point, MRT2, which spans 52.2km with 36 stations, has a total project cost of RM56.9 billion. Cable supply contracts for MRT2 were estimated at around RM550 million, according to market sources. 'Given the comparable scale of MRT3, we estimate the cable supply package to be valued at RM600 million,' Apex added. In light of MRT3 and other infrastructure rollouts such as the Penang LRT, Apex Securities has revised its earnings forecasts upward by 9.5% for FY26 and 18.5% for FY27. The research firm noted that cable orders for large infrastructure projects are typically distributed across multiple packages and subcontractors. This results in staggered purchase orders, rather than a single lump-sum entry in Southern Cable's order book. 'We raise our price-earnings (PE) multiple from 15x to 17x to reflect Southern Cable's improving earnings visibility and robust growth outlook. 'Valuation remains attractive, with a price/earnings-to-growth (PEG) ratio of 0.4x, based on our projected EPS compound annual growth rate (CAGR) of 33.9% for FY24–27. 'Our revised target price of RM2.14, up from RM1.72, is based on a 17x FY26 EPS of 12.6 sen, and supported by a three-star ESG rating. 'We maintain a 'Buy' call on Southern Cable. We remain positive on the company, given its position as a proxy for Malaysia's rising power demand, growing need for high-voltage power cables, and export exposure to the US market,' Apex Securities concluded.
New Straits Times
17-07-2025
- Business
- New Straits Times
NST Leader: Vigilance key to stopping scams
EFFORTS to stamp out financial scams, which are increasing in sophisticatication and resourcefulness, can't succeed if victims are consistently ignorant and naive. Various enforcement outfits, like the police, Bank Negara Malaysia and the Malaysian Communications and Multimedia Commission (MCMC), have done their best but scammers are still having a field day. The situation is akin to the authorities fortifying homes with formidable security systems but homeowners continue to fail to lock the doors. The cybersecurity measures against scammers are useless if the gullible allow themselves to be duped. We say this as the police take over the National Scam Response Centre (NSRC) previously helmed by various enforcement outfits. Nevertheless, it makes sense that police control the NSRC: it speeds up victim support, improves recovery rates and adds legal muscle to freeze assets and prosecute scam syndicates. However, the NSRC must stay inclusive, leveraging expertise across all stakeholders like Bank Negara, MCMC, banks and telecommunications providers. The stakeholders must remain part of the anti-scam effort, especially for education, prevention and rapid action, like Singapore's "shared responsibility framework" where everyone maintains a fair, multi-prong system. They have to: in 2024, scammers bilked a staggering RM54 billion, roughly three per cent of Malaysia's gross domestic product. According to a survey of Malaysians by trust tech company Gogolook, about 74 per cent of respondents encountered scams every month through phone calls, messaging apps and social media platforms. Investment scams make up 23 per cent, followed by identity theft (21 per cent) and shopping scams (20 per cent). Unfortunately, 70 per cent of victims refused to report being scammed, mostly due to embarrassment but also scepticism on the effectiveness of alerting the authorities. Bearing this in mind, the NSRC's most vital task is constant education on how to spot a scam. Awareness campaigns are key but the only way is to develop a scam-resilient society. Scammers know they cannot beat a secure financial environment, but they understand human frailty. Victims often succumb to sweet talk or threats of legal action to part with their money. Other than managing public education, improving technology and artificial intelligence defences, and formulating stronger laws and international cooperation, the NSRC may have to deal with victims' emotional toll and the fact that financial scams threaten Malaysia's socio-economic foundations. In a nutshell, everyone, not just individuals, but also companies and the government, must keep reminding themselves to always be smart and vigilant.
New Straits Times
16-07-2025
- Business
- New Straits Times
IJM approached to invest in Prolintas
KUALA LUMPUR: IJM Corp Bhd has been approached to invest in Permodalan Nasional Bhd's (PNB) toll road assets under Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), sources said. PNB had reached out to IJM to do a due diligence on the prospect, they added. Instead of an outright sale of Prolintas to investors, they said PNB might offer Prolintas' controling stake in Prolintas Infra Business Trust, which was listed on the Main Market of Bursa Malaysia on March 25 last year. PNB reportedly was considering selling Prolintas in a deal that could be worth RM3 billion. It had reached out to potential investors, including industry players and private equity firms, to gauge initial interest. In its reply to Business Times today, PNB said: "For now, we have nothing further to share beyond what we have officially shared with Bloomberg. They have captured our official statement in their article. "As a long-term investor committed to delivering sustainable returns, PNB regularly reviews its investment portfolio for opportunities to enhance value, including potential divestments or strategic repositioning. "All decisions are guided by a rigorous governance process aligned with our investment objectives. It is PNB's policy not to comment on market speculation or rumours," it added. Prolintas operates a network of six major highways in the Klang Valley. They are Ampang-Kuala Lumpur Elevated Highway (Akleh), Guthrie Corridor Expressway (GCE), Kemuning-Shah Alam Highway (LKSA), Kajang Dispersal Link Expressway (Silk), Sungai Besi-Ulu Klang Elevated Expressway (Suke) and Damansara-Shah Alam Elevated Expressway (Dash). Four of the highway assets are parked under Prolintas Infra Business Trust, which was listed on the Main Market of Bursa Malaysia on March 25 last year. The trust manages Akleh, GCE, LKSA and Silk with Prolintas holding a controlling 51.02 per cent stake. Other notable unitholders include the Employees Provident Fund with 7.78 per cent, Urusharta Jamaah Sdn Bhd with 5.78 per cent and Lembaga Tabung Haji with 5.45 per cent. IJM, meanwhile, operates a slew of toll highways namely Lebuhraya Sungai Besi (Besraya), New Pantai Expressway (NPE), Lebuhraya Kajang-Seremban (Lekas) and West Coast Expressway (WCE). The company's toll division is currently unprofitable, but its medium to long-term outlook is bright, according to some industry observers. Once impairment and forex issues ease, IJM's core local toll operations are forecast to contribute steady, recurring income, they added. The division recorded a pre-tax loss of RM0.1 million in the year ended March 31 2025. This was primarily due to a RM54 million impairment related to the WCE and share of losses from overseas associates amounting to RM66.7 million. Last month, IJM's wholly-owned New Pantai Expressway Sdn Bhd received approval from the Works Ministry to proceed with the RM1.4 billion construction of the NPE Extension. NPE will undertake a 15-kilometre elevated highway extension, including the construction of one new toll plaza.
