Minister of Religious Affairs Pehin Udana Khatib Dato Paduka Seri Setia Ustaz Haji Awang Badaruddin bin Pengarah Dato Paduka Haji Awang Othman presents a donation to orphans. PHOTO: AZLAN OTHMAN
Azlan Othman
Forty-four orphans of the Ministry of Religious Affairs (MoRA) workforce received donations yesterday at the ministry’s premises.
Minister of Religious Affairs Pehin Udana Khatib Dato Paduka Seri Setia Ustaz Haji Awang Badaruddin bin Pengarah Dato Paduka Haji Awang Othman handed over the donations.
The donations were aimed at easing the burden of the less fortunate while instilling good values among the ministry’s workforce through charity work and practices and to build a community within the ministry.
Minister of Religious Affairs Pehin Udana Khatib Dato Paduka Seri Setia Ustaz Haji Awang Badaruddin bin Pengarah Dato Paduka Haji Awang Othman presents a donation to orphans. PHOTO: AZLAN OTHMAN
Fleet of Malaysia Airlines planes. PHOTO: BANGKOK POST
PETALING JAYA (BERNAMA) – The Malaysia Aviation Group (MAG) recorded a net operating profit of MYR556 million for financial year 2022 (FY22), while net loss after interest and tax for the year was reduced by 79 per cent to MYR344 million from MYR1.65 billion a year ago.
Its cash balance stood at MYR4.6 billion at December 31, 2022. Group managing director Captain Izham Ismail said the group achieved a record net profit after interest and tax of MYR1.15 billion in the fourth quarter of 2022 (4Q 2022).
He said the 4Q results were one of its best quarter performances in the past two decades, driven by robust demand, higher yield across passenger and cargo business segments as well as effective cost management and cash flow optimisation.
“The group also saw improvement across all its business segments during the year, while the cargo subsidiary, MABkargo Bhd (MABkargo) recorded marginally weaker performance compared to a year ago amid softening global freight demand and increased capacity in the market in the second half of 2022 (2H22),” he said during the 2022 Annual Performance media briefing yesterday.
Meanwhile, Malaysia Airlines Bhd’s (MAB) total revenue has tripled compared to FY21, underpinned by strong demand in the international sector for both passenger travel and cargo freight.
“MAB achieved to break even at operating profit level, an exceptional turnaround from an operating loss of MYR612 million a year ago, while passengers carried was 6.7 times higher than the previous year,” he said.
However, Firefly remained in a loss position for 2022, on the back of weak yield and demand for both its ATR aircraft and jet operations, while Amal recorded its first year of profit from a loss position a year ago with the resumption of Hajj and Umrah travels.
Fleet of Malaysia Airlines planes. PHOTO: BANGKOK POST
Giant panda Meng Lan at the Beijing Zoo. PHOTO: CHINA DAILY
CHINA DAILY – With a round head and fluffy face, giant panda Meng Lan at the Beijing Zoo has again gone viral for his naughty behaviour, CCTV News reported.
In December 2021, the bear had successfully ‘broken through’ the enclosure in the zoo, stunning visitors with his ‘kung fu skills’ and attracting numerous fans.
Since born in July 2015 in Chengdu Research Base of Giant Panda Breeding in Southwest China’s Sichuan province, Meng Lan has received much attention and popularity for his ‘celebrity pedigree’.
His grandparents are Yang Yang and Lun Lun from the Atlanta Zoo in the United States. His parents are also ‘big stars’: His mother Meng Meng is a famous “movie star” and his father is Mei Lan, also a well-known ‘returnee panda’ from overseas.
Giant panda Meng Lan at the Beijing Zoo. PHOTO: CHINA DAILY
Minister at the Prime Minister’s office and Minister of Defence II Pehin Datu Lailaraja Major General (Rtd) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd Yussof receives a mock cheque from the Fuzhou Shiyyi Association. PHOTO: JAMES KON
James Kon
Pengiran Muda Mahkota Al-Muhtadee Billah Fund for Orphans (DANA) received BND66,339 in donation from the Fuzhou Shiyyi Association of Brunei Darussalam in a ceremony at the multipurpose hall of Yayasan Sultan Haji Hassanal Bolkiah (YSHHB) Complex yesterday.
Minister at the Prime Minister’s office and Minister of Defence II Pehin Datu Lailaraja Major General (Rtd) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd Yussof as the Chairman of the DANA Board of Trustees received the donation in the form of a mock cheque from the association’s president Jackson Ting.
Also present were Permanent Secretary (Planning, Land Use and Environment) at the Ministry of Development Dr Nor Imtihan binti Haji Abdul Razak who is also the Acting Chief Executive Officer of the DANA and officials as well as donors comprising 77 members of Fuzhou Shiyyi Association.
Yayasan Sultan Haji Hassanal Bolkiah is the secretariat for Dana Pengiran Muda Mahkota Al-Muhtadee Billah Untuk Anak-Anak Yatim (DANA).
Minister at the Prime Minister’s office and Minister of Defence II Pehin Datu Lailaraja Major General (Rtd) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd Yussof receives a mock cheque from the Fuzhou Shiyyi Association. PHOTO: JAMES KON
CNA – Indonesia’s central bank yesterday kept its benchmark interest rates unchanged for a third straight meeting, predicting headline inflation would be back within its target sooner and after the rupiah currency strengthened significantly.
Southeast Asia’s biggest economy has been supported by a commodities-led export boom, though economists expect a slowdown in growth as tighter monetary policy across the world weighs on global demand.
Bank Indonesia (BI) left the seven-day reverse repurchase rate unchanged at 5.75 per cent, as expected by all 30 economists polled by Reuters. It also kept steady its two other policy rates. Governor Perry Warjiyo told a news conference the current benchmark level remained sufficient to keep core inflation within BI’s two to four per cent target range and steer headline inflation to within the same target band sooner than previously estimated.
“Last month inflation was already at 4.9 per cent, this will continue easing… We believe that starting August, it could be below four per cent,” he said, referring to the headline inflation rate in March of 4.97 per cent.
BI previously expected headline inflation to return to target in September. Meanwhile, with sentiment for riskier assets improving amid market forecasts that United States (US) rates were near their peak, the rupiah has strengthened by almost four per cent in the past month, even with some depreciation this week.
BI said the rupiah could continue appreciating, supported by capital inflows and Indonesia’s current account surplus.
A pedestrian passes by the Hong Kong Stock Exchange electronic screen. PHOTO: AP
TOKYO (AP) – Asian shares were trading mixed yesterday as pessimism about global uncertainties remained even as China reported a better-than-expected economic growth data.
Japan’s benchmark Nikkei 225 rose 0.5 per cent in afternoon trading to 28,646.73.
Australia’s S&P/ASX 200 shed 0.4 per cent to 7,352.60. South Korea’s Kospi lost 0.3 per cent to 2,568.72. Hong Kong’s Hang Seng slipped 0.7 per cent to 20,627.70, while the Shanghai Composite edged up 0.1 per cent to 3,390.34. Oil prices rose.
Traders have been focussed on data out of China, Asia’s chief engine for growth, and trading was muted until the release of the data. China’s 2023 growth target is five per cent.
China’s first-quarter gross domestic product, which measures the value of a nation’s products and services, rose a better-than-expected 4.5 per cent, according to official statistics.
Analysts had expected four per cent growth, following a 2.9 per cent growth in the last quarter of 2022. Still, some analysts remained cautious.
“This neither distracts from doubts around sustained growth recovery back above five per cent nor does it adequately confirm recovery in private sector confidence critical to inspire a virtuous growth cycle,” said Tan Boon Heng at Mizuho Bank.
A pedestrian passes by the Hong Kong Stock Exchange electronic screen. PHOTO: AP
Analysts said new trade patterns will emerge since markets have been rocked by various political uncertainties such as the war in Ukraine, threatening supply chains and triggering fluctuations in consumer prices and moves by the world’s central banks.
Wall Street drifted higher Monday to kick off the first full week of earnings reporting season.
The S&P 500 rose 13.68, or 0.3 per cent, to 4,151.32. The Dow Jones Industrial Average gained 100.71, or 0.3 per cent, to 33,987.18, while the Nasdaq composite climbed 34.26, or 0.3 per cent, to 12,157.72.
All three swayed between small gains and losses in quiet trading before ending near their highs for the day.
Several financial companies reported a mixed set of profit reports for the first three months of the year. They followed up on a bevy of better-than-expected reports from JPMorgan Chase and other big United States (US) banks that marked the unofficial start of reporting season late last week.
A lot of focus has been on the strength of the financial industry broadly after the second- and third-largest US bank failures in history last month rocked markets worldwide.
A worry for the broad financial industry has been that customers could pull out deposits amid all the fear about the US banking system. The spotlight has been hottest on regional banks that are a rung or several below in size of JPMorgan Chase and the other massive, “too-big-to-fail” banks. They’re seen as more vulnerable to customers fleeing en masse, akin to the runs that helped cause the failures of Silicon Valley Bank and Signature Bank last month.
Several regional banks will report their results later this week. So far, the earliest trends for earnings season seem to be encouraging.
“A massive, systemic financial confidence shock appears to have been averted, but tighter credit is manifesting in the real economy,” strategists led by Savita Subramanian wrote in a BofA Global Research report.
Even though inflation has been cooling, it still remains far above the Fed’s liking.
The Fed has jacked up interest rates at the fastest pace in decades, and expectations are firming that it will raise them again at its next meeting next month.
Higher rates can stifle inflation but only by slowing the economy, raising the risk of a recession and dragging on prices for stocks, bonds and other investments.
United National Networks (UNN) representatives hand over donations to orphans. PHOTO: UNN
James Kon
Unified National Networks (UNN) hosted a donation drive for orphans identified under the Dana Pengiran Muda Mahkota Al-Muhtadee Billah for Orphans (DANA) charitable foundation by handing over Hari Raya vouchers worth BND5,900.
According to UNN, each Hari Raya voucher contains a BND50 cash coupon issued by YMRM for guardians to redeem textile and tailoring services at any YMRM textile store and make new Hari Raya clothes for the orphans in their care.
The first part of the voucher distribution was carried out via a donation drive-through UNN base stations in Belait, Tutong and Temburong districts.
Ninety orphans – 30 in each district received the vouchers at the drive-through.
United National Networks (UNN) representatives hand over donations to orphans. PHOTO: UNN
In this photo provided by Christopher Hayden, a light baby blue spiral resembling a galaxy appears amid the aurora for a few minutes in the Alaska skies near Fairbanks, Alaska. The spiral was formed when excess fuel that had been released from a SpaceX rocket that launched from California about three hours earlier turned to ice, and then the water vapour reflected the sunlight in the upper atmosphere. PHOTO: AP
ANCHORAGE, ALASKA (AP) – Northern light enthusiasts got a surprise mixed in with the green bands of light dancing in the Alaska skies: A light baby blue spiral resembling a galaxy appeared amid the aurora for a few minutes.
The cause early on Saturday morning was a little more mundane than an alien invasion or the appearance of a portal to the far reaches of the universe. It was simply excess fuel that had been released from a SpaceX rocket that launched from California about three hours before the spiral appeared.
Sometimes rockets have fuel that needs to be jettisoned, said space physicist Don Hampton, a research associate professor at the University of Alaska Fairbanks Geophysical Institute.
“When they do that at high altitudes, that fuel turns into ice,” he said. “And if it happens to be in the sunlight, when you’re in the darkness on the ground, you can see it as a sort of big cloud, and sometimes it’s swirly.”
While not a common sight, Hampton said he’s seen such occurrences about three times.
The appearance of the swirl was caught in time-lapse on the Geophysical Institute’s all-sky camera and shared widely. “It created a bit of an Internet storm with that spiral,” Hampton said.
In this photo provided by Christopher Hayden, a light baby blue spiral resembling a galaxy appears amid the aurora for a few minutes in the Alaska skies near Fairbanks, Alaska. The spiral was formed when excess fuel that had been released from a SpaceX rocket that launched from California about three hours earlier turned to ice, and then the water vapour reflected the sunlight in the upper atmosphere. PHOTO: AP
Photographers out for the northern lights show also posted their photos on social media.
The rocket took off from Vandenberg Space Force Base in California on Friday night with about 25 satellites as its payload.
It was a polar launch, which made it visible over a large swath of Alaska.
The timing of the fuel dump was timed correctly for visibility over Alaska. “And we got that really cool looking spiral thing,” he said.
While it looked like a galaxy going over Alaska, he assures it wasn’t.
“I can tell you it’s not a galaxy,” he said. “It’s just water vapour reflecting sunlight.”
In January, another spiral was seen, this time over Hawaii’s Big Island. A camera at the summit of Mauna Kea, outside the National Astronomical Observatory of Japan’s Subaru telescope, captured a spiral swirling through the night sky.
Researchers have said it was from the launch of a military GPS satellite that lifted off earlier on a SpaceX rocket in Florida.
CHARLOTTE, NORTH CAROLINA (AP) – A 13-year-old boy had to be freed from a claw machine after he climbed inside hoping to score a prize, according to an official at a North Carolina amusement park.
Carowinds officials were alerted just before 2pm on Sunday that the boy was inside the Cosmic XL Bonus Game, which contained plush prizes, according to spokesperson Courtney C McGarry Weber for the park south of Charlotte.
The medical response team unlocked the machine and the boy was able to get out, she said.
He was treated and released from first aid to his guardian.
The boy has been banned from the park for one year for attempted theft, Weber said.
CNA – Sweden’s Ericsson yesterday reported first-quarter core earnings that beat expectations, supported by stronger sales of 5G equipment in countries such as India, but sales in more established markets fell and eroded margins.
The company has cut costs to mitigate lower spending by telecom operator customers in several regions and expects the slower pace of deployment to continue until the third quarter.
After announcing plans to layoff 8,500 employees in February, it expects to save another SEK2 billion (USD193 million) in costs.
The restructuring charges may be around SEK7 billion for the full year, more than half of which will be booked in the current quarter, it said in a statement.
The sales growth in the quarter was mainly from fiercely price competitive markets such as India rather than high-margin markets like the United States (US).
Ericcson’s reported gross margin for the quarter fell to 38.6 per cent from 42.3 per cent.
“India is strong and a good example where our sales are up five times,” Chief Financial Officer Carl Mellander said in an interview. India is the second largest market for Ericsson after the US, he said.
Mellander will step down from his role at the end of the first quarter of 2024.
