There is no need to extend Emergency, say Rulers

There is no need to place the country under Emergency beyond Aug 1, declare the Malay Rulers. In a statement issued by the Keeper of the Rulers’ Seal, Tan Sri Syed Danial Syed Ahmad, the Rulers concurred with the view of the Yang di-Pertuan Agong that Parliament should be reconvened as soon as possible. The meeting of the Rulers yesterday was intended to discuss efforts to combat the Covid-19 pandemic. On Jan 12, the King, Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, decreed that the Emergency be in force up to Aug 1 or earlier if the number of Covid-19 cases can be effectively controlled and effectively brought down. “The Rulers concur that lives and livelihoods must be given priority above other matters and for the vaccination drive to be ramped up,” he said. Syed Danial said the Rulers pointed out the importance of respecting the mechanisms for checks and balances between the Executive, Legislative and Judiciary to ensure transparency, integrity and accountability in governance, especially on financial matters and expenditure. (The Star)

Malaysia’s biggest IPO in 2021 said to draw Aberdeen, AIA

Malaysian credit reporting agency CTOS Digital Bhd is in talks to sign up Aberdeen Standard Investments and AIA Group Ltd. as cornerstone investors for its planned initial public offering, according to sources. Eastspring Investments Bhd., Fidelity International and several local asset managers are also in discussions to participate in what could be Malaysia’s biggest listing this year. The company aims to sell shares in the Kuala Lumpur IPO for as much as RM1.10 ringgit each, said the source, who asked not to be named as the process is private. At that price, the IPO would raise about RM1.2 billion based on its draft prospectus’ indicative offering of 1.1 billion shares. CTOS plans to file an official prospectus before the end of the month, when it will formally confirm the cornerstone investors. CTOS has met with multiple international institutions and is in discussions with joint bookrunners, who will provide updates if any, Dennis Martin, group CEO of CTOS. Malaysia’s IPO market has been slow to recover from the coronavirus pandemic, as rising cases prompted a return to a nationwide lockdown earlier this month. (The Star)

MCMC focuses on national digitalisation for economic recovery

National digitalisation continues to be the main focus of the Malaysian Communications and Multimedia Commission (MCMC) to assist the country in providing a solid platform for economic recovery in line with the National Recovery Plan (PPN). As a regulatory body responsible for the communications sector covering telecommunications and internet, post and courier as well as broadcasting, MCMC said it was committed to continue to ensure the continuity of operations in essential services throughout the Movement Control Order (MCO) period. It said the people could utilise internet connectivity for daily activities such as e-commerce, work from home (WFH) and home-based teaching and learning (PdPR). MCMC said among the programmes developed with the industry were the National Digital Network (JENDELA) for connectivity, the National Courier Accelerator Plan (PAKEJ) for delivery of goods, the transformation of the state MCMC offices and the development of Community Internet Centres (PIK). (Malay Mail)

Civil service told to name PM as ‘Mahiaddin’ for all official purposes

The Prime Minister’s principal private secretary Datuk Marzuki Mohamad has directed all civil servants to use Prime Minister Tan Sri Muhyiddin Yassin’s official name in formal documents with immediate effect. The circular dated June 3 said the Attorney General’s Chambers has advised that all formal documents bearing the prime minister’s name must identify him as Mahiaddin Md Yasin or Tan Sri Dato Haji Mahiaddin Md Yasin. Mahiaddin is the prime minister’s given name, but he is better known through his adopted name of Muhyiddin. The judge ruled that under the Ministerial Functions Act 1969, the prime minister must use his gazetted name of Mahiaddin Md Yasin as that was the one stated in his MyKad. (Malay Mail)

Mahiaddin is the prime minister’s given name, but he is better known through his adopted name of Muhyiddin. — Picture by Shafwan Zaidon
(Source: Malay Mail)

HSBC closing 13 branches in Malaysia as part of transformation

HSBC Bank group has reaffirmed its business commitment to Malaysia as its priority growth market by expanding its digital banking presence and reducing its branch footprint in line with the evolvement of the financial and banking services. Having a presence in Malaysia since 1884, HSBC Bank Malaysia Bhd said the transformation involves investments in its digital capabilities while making changes to the technology and branch footprint to better serve customers’ expectations and their preferred ways to do businesses. “HSBC is now focusing [on] investing to transform for the future of banking via digital enablement and as part of this transformation, 13 of our bank branches will be closed on Dec 31, 2021. Customers can continue to conduct their banking transactions via the nearest branch, ATMs, telephone banking or our Digital Banking platforms,” it said. HSBC group highlighted that a reflection of this commitment includes HSBC Malaysia’s US$250 million investment in its new Malaysian headquarters in the TRX financial hub. (The Edge)