Latest News from Barnama
Barnama
40 minutes ago
- Barnama
Selangor KPDN Detains Five Men Suspected Of Subsidised Diesel Fleet Card Fraud
SHAH ALAM, May 29 (Bernama) -- The Selangor branch of the Ministry of Domestic Trade and Cost of Living (KPDN) detained five men suspected of diesel fraud using subsidised fleet cards yesterday. KPDN state director Mohd Zuhairi Mat Radey said the suspects, aged between 30 and 45, were arrested during a raid on an illegal storage site in Sri Muda, Section 25. The operation, involving 25 KPDN officers and the Selangor Police Contingent headquarters, took place around 7 pm following a month-long intelligence gathering.
Barnama
an hour ago
- Business
- Barnama
S. Korea Expressed Readiness To Expand Development Cooperation With Malaysia
KUALA LUMPUR, May 29 (Bernama) -- South Korea has expressed readiness to expand bilateral cooperation with Malaysia, particularly in road development, construction technology and intelligent transport systems, said Works Minister Datuk Seri Alexander Nanta Linggi. He said it was conveyed to him during his courtesy call on South Korea's Minister of Land, Infrastructure and Transport Park Sang Woo, in conjunction with Malaysia's participation in the 2025 Asia Pacific Intelligent Transport Systems (ITS) Forum held in the country. He said the meeting, which was a follow-up discussion from the bilateral talks held in Kuala Lumpur last November, also touched on the progress of negotiations for a memorandum of understanding (MoU) in the relevant fields, adding that the initial discussion for the MoU took place in the capital on April 16. 'Both parties hope that the MoU can be finalised and signed in conjunction with the ASEAN-Republic of Korea Summit, set for October in Kuala Lumpur. 'I believe that this strategic cooperation will pave the way for greater opportunities in technology transfer, capacity building and the development of more efficient, safer and sustainable infrastructure in Malaysia,' he said in a Facebook post today. Nanta noted that the effort aligns with the direction of the Malaysian ITS Roadmap 2030, which focuses on innovative, inclusive and resilient future mobility. Nanta also shared the success of the Road and Construction Technology Cooperation Seminar, which drew over 130 participants, including Malaysian and South Korean government agencies and industry players, describing it as reflecting a shared commitment to innovation and the development of competitive and future-ready infrastructure. 'I would like to express appreciation to South Korea's Ambassador to Malaysia, Yeo Seung-Bae, and the entire staff of the South Korean Embassy in Malaysia for their strong support in advancing various collaborative initiatives currently underway. 'Malaysia deeply values its close ties with South Korea and will remain steadfast in pursuing collaborations that bring mutual benefits to the people and nations of both sides,' he added.
Barnama
an hour ago
- Business
- Barnama
Cyberwrite Partners With Samsung Fire & Marine Insurance On Cyber Insurance
SEOUL, South Korea & NEW YORK, May 29 (Bernama) -- Cyberwrite has partnered with Samsung Fire & Marine Insurance (SFMI) to strengthen the insurer's cyber insurance capabilities. Following a comprehensive global evaluation by Samsung Financial C-Lab Outside, Cyberwrite was selected for its expertise in next-generation cyber catastrophe modeling, AI-driven real-time cyber underwriting analytics, and broker enablement abilities. The collaboration will focus on strengthening SFMI's ability to assess the probability and economic impact of cyber attacks across its portfolio and manage catastrophic risk. By 2030, the global cyber insurance market is projected to experience substantial growth, rising from approximately $16 billion in annual premiums in 2025 to over $40 billion to 50 billion by the end of the decade. This surge is driven by escalating cyber threats and the increasing financial impact of cyber incidents on organizations worldwide. Concurrently, cybercrime is anticipated to impose significant economic burdens, with global damages expected to reach approximately $10.5 trillion annually by 2030.
Barnama
an hour ago
- Business
- Barnama
Mary Kay Inc. Awards 10 Grants To Young Innovators At 2025 Regeneron International Science And Engineering Fair
DALLAS, May 29 (Bernama) -- Mary Kay Inc., a global advocate for furthering young women's education and encouraging youth to follow their STEM dreams, returned for a second year as a Special Awards Organization at the Regeneron International Science and Engineering Fair (Regeneron ISEF) in Columbus, Ohio. Ten grants totaling nearly $10,000 were awarded to standout high school-aged students excelling in innovative projects spanning topics from finding cures for cancers affecting women to sustainable packaging innovation and protecting our planet's most valuable resources. Each year, the event convenes nearly 2,000 participants representing more than 60 countries, with a total award pool offering over $9 million in awards and scholarships and invitations to corporate and academic events with elite global leaders in STEM.
Barnama
an hour ago
- Business
- Barnama
MISC Shares Down On Weaker 1Q FY2025 Results
BUSINESS KUALA LUMPUR, May 29 (Bernama) -- MISC Bhd's shares fell in early trade after its net profit for the first quarter ended March 31, 2025 (1Q FY2025) dropped year-on-year on the back of lower revenue for the quarter. At 9.44 am, MISC slipped two sen to RM7.51, with 48,900 shares transacted. In a filing with Bursa Malaysia yesterday, MISC's net profit eased to RM705.70 million in 1Q from RM759.90 million a year earlier, while revenue declined to RM2.82 billion against RM3.64 billion. The lower revenue was primarily weighed down by lower revenue from the marine and heavy engineering segment by 54.0 per cent, it said. Despite the weaker performance, Hong Leong Investment Bank Bhd (HLIB) and CIMB Securities Sdn Bhd maintained their buy calls on a positive earnings outlook. HLIB said despite a dismal outlook in MISC's gas segment, it still expects group earnings growth in FY2025 to be driven by the petroleum division and offshore business. 'Our FY2025/2026 profit forecasts are adjusted slightly by -0.3 per cent/-3.7 per cent. We also introduce FY207 earnings forecast at RM2.49 billion,' it said in a note today. CIMB Securities said it expects earnings to normalise in the following quarters, in the absence of the one-time gain from floating production storage and offloading (FPSO) vessel Bunga Kertas. 'A dividend per share of eight sen was declared, in line with our forecast.
