In today’s edition of Evening 5 — Despite a slight delay, telcos and DNB are expected to sign share subscription agreements this year. Meanwhile, Mavcom orders MYAirline to submit a written justification by tomorrow so it can decide whether to yank the carrier’s air service licence.
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00:00 [Music]
00:04 Mobile network operators and DNB are expected to sign share subscription agreements this year,
00:10 despite a slight delay.
00:12 According to Communications and Digital Minister Fahmy Fadzil,
00:16 his ministry has already had a meeting with the 5G Task Force
00:20 to discuss several matters to expedite the signing of the deals.
00:24 Met at the launch of DNB's 5G Experience Centre today,
00:27 he explained that there were some proposals, discussions and analysis to be settled,
00:33 as well as some assessments from a technical point of view and also financial aspects.
00:38 The telcos, Celcom Digi, Maxis, Telekom Malaysia, U Mobile and YTL Communications
00:44 were expected to ink the share subscription agreements by the middle of this month.
00:49 The minister said he would announce the date for the signing soon after meeting all the telcos.
00:54 Earlier this week, The Straits Times reported that political and commercial wrangling over
01:00 control of Entity B, the country's second 5G network provider,
01:04 is threatening to derail the first network.
01:07 Entity B will be set up once DNB hits its 80% 5G coverage of populated areas by the end of this year.
01:14 [Music]
01:20 Troubled low-cost carrier MyAirline has been ordered to submit a written justification by
01:25 tomorrow as aviation regulator MAVCOM intensifies its investigation into the airline.
01:31 In a statement today, MAVCOM said, upon receiving the written representation from MyAirline,
01:37 it will evaluate whether the carrier should continue as an air service licence holder
01:42 or whether the licence should be suspended or revoked.
01:45 It will provide additional updates to the public within a week.
01:49 The commission issued a show-cause letter to MyAirline on October 13,
01:53 a day after the airline's abrupt operational suspension.
01:57 With regard to airfare reimbursement, MAVCOM said it has engaged various agencies,
02:02 including Bang Nagara, to seek all possible avenues to refund affected consumers
02:08 and promised to provide additional updates in due course.
02:12 In the meantime, MAVCOM has set up a task force comprising representatives from the commission,
02:17 the Legal Regulatory and Dispute Resolution Committee and Consumer Protection Committee.
02:22 [Music]
02:28 Nasleh Malaysia booked an 18.7% jump in its third quarter FY23 earnings,
02:34 with net profit rising to RM133.7 million on the back of a 5.3% increase in revenue to RM1.77 billion.
02:43 In a bourse filing today, the Food and Drink Processing Group said,
02:47 "Bottom line was supported by sales growth and its continuous focus on internal efficiencies
02:52 and saving initiatives to offset the impact of volatile commodity prices and unfavourable exchange rates."
02:59 The absence of Chukai Makmur also helped.
03:02 It declared an interim dividend of 70 cent per share.
03:06 In a statement, Chief Executive Officer Wan Arunoh said,
03:09 "Innovation was significant in the quarter,
03:12 and the group further expanded its presence in the fast-growing dairy-free drinks space."
03:17 On its prospects, Arunoh said, "Despite the uncertain environment,
03:21 the company continues to leverage its strong foundation and proven capabilities
03:25 in providing relevant product offerings, while it continues to advance its ESG agenda."
03:31 [Music]
03:36 Lotte Chemical Titan Holding, or LCT, narrowed its net loss to RM55.58 million
03:43 for the third quarter of FY2023 due to reversal of inventory write-down and improved margin spreads,
03:49 resulting from lower feedstock costs.
03:52 In the third quarter of FY2022, it had posted a huge net loss of RM355.5 million.
03:59 The company has been loss-making for six straight quarters.
04:03 Quarterly revenue fell 17.4% to RM1.96 billion amid lower average product selling prices.
04:11 Commenting on LCT's financial performance, its President and CEO Park Hyun-chul says,
04:16 "The group's business environment remains challenging,
04:19 weighed down by slower economic growth in major economies and the new tensions in the Middle East."
04:25 He said LCT is vigilantly monitoring the geopolitical situation and the aggregate
04:31 supply and consumption dynamics to enable the company to navigate through this volatile environment.
04:37 LCT's shares closed unchanged at RM1.13, valuing it at RM2.61 billion.
04:44 [Music]
04:49 The Public Accounts Committee, or PAC, will be summoning Human Resources Minister V Sivakumar
04:54 on November 2, regarding the probe into the training, programs and fund management of the
04:59 Human Resource Development Corporation, or HRD Corp.
05:03 PAC Chairman Mas Ermiyati Samsudin says it will also question the Finance Ministry's
05:08 representative in HRD Corp on November 1.
05:12 The decision to call these two witnesses is based on their names being mentioned in the
05:16 first proceeding, she says, and the committee aims to ensure fairness to them.
05:20 The PAC had on Monday held a proceeding regarding the matter, summoning Datuk Haji Amran Haji
05:26 Ahmad from the HR Ministry and HRD Corp CEO Datuk Viras Jahod Dawood.
05:31 As for its investigations into the troubled Littoral Combat Ship project, she said the PAC
05:36 is in the final stages of preparing a report, which should be presented during the current
05:42 parliamentary session.
05:44 [Music]