KL shares little changed in morning session |
- KL shares little changed in morning session
- Opec reopens talks on oil cuts without Iran, Iraq ministers
- Singapore police: Beware of bogus online ads that offer S$1 iPhones
- Understanding the high-level vision together
- Georgia executes inmate for murder of ex-girlfriend
- People’s Choice Awards: ‘Captain America,’ Rihanna lead nominations
| KL shares little changed in morning session Posted: 16 Nov 2016 05:46 PM PST
At 9.06am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,628.49 points, up 0.86 of-a-point from yesterday's close of 1,627.63. The local index opened 0.26 of-a-point weaker at 1,627.37. Gainers led losers 108 to 81, while 125 counters remained unchanged, 1,402 untraded and 16 others suspended. Turnover stood at 62.23 million shares worth RM27.6 million. In a note, Hong Leong Investment Bank Research reiterated its view that the FBM KLCI's near-term outlook remained challenging on the back of uncertainties in the equities, bonds and currencies markets. "However, the market should gradually recover towards the year-end, buoyed by Bank Negara Malaysia's measures to stem foreign exchange market volatility, window dressing activities and expectations of Malaysia's general elections being held in 2017," it added. Among heavyweights on Bursa, TNB lost four sen to RM14.16, Maybank was flat at RM7.66 and Public Bank added two sen to RM19.68. The FBM Emas Index added 3.87 points to 11,482.83, the FBMT100 Index rose 3.63 points to 11,193.37 and the FBM Emas Syariah Index gained 2.23 points to 12,114.2. The FBM 70 declined 3.95 points to 13,388.03 and the FBM Ace fell 9.58 points to 4,971.57. Sectorwise, the Plantation Index was 7.14 points weaker at 7,791.32, the Finance Index increased 20.86 points to 14,184.2 and the Industrial Index was 3.23 points better at 3,075.88. — Bernama   |
| Opec reopens talks on oil cuts without Iran, Iraq ministers Posted: 16 Nov 2016 05:34 PM PST
Members of the Organisation of Petroleum Exporting Countries are "all hands on deck" to reach an agreement by the group's Nov 30 meeting in Vienna, Secretary-General Mohammed Barkindo said in an interview in Marrakech, Morocco on Tuesday. Saudi Arabia, Iraq and Iran remain at odds over how to share output cuts, said an Opec delegate, who asked not to be identified because the information isn't public. The latest round of diplomacy reflects Opec's struggle to finalise the deal reached in Algiers on Sept 28, which would end a two-year policy of pumping without limits. More than 18 hours of talks last month in Vienna failed to overcome internal disagreements, which in turn prevented a wider pact with non-Opec producers. Without an accord, the International Energy Agency predicted a fourth consecutive year of oversupply in 2017. Brent crude rallied to a one-year high following the announcement of Opec's preliminary accord to reduce production, but has since fallen back as doubts over the deal grow. The international benchmark rose 5.7 per cent to US$46.95 (RM204.97) a barrel Tuesday, the biggest gain since the surprise agreement in Algiers, as the fresh talks prompted speculation the group can overcome its differences. Oil diplomacy "Freeze diplomacy continues in full swing," Olivier Jakob, managing director of Zug, Switzerland-based consultant Petromatrix GmbH, said in a note Wednesday. "We think that Saudi Arabia wants to make sure that everything is done before the November 30 meeting." Russia will hold informal consultations with Opec representatives, potentially including Saudi Minister of Energy and Industry Khalid Al-Falih, at the Gas Exporting Countries Forum in Doha on Nov 17-18, Energy Minister Alexander Novak told reporters in Moscow. There's a high chance of an agreement by the Nov 30 meeting and Russia is ready to support a decision, he said. Neither Iran, Iraq nor Nigeria will send oil ministers to Doha. Hamed Al-Zobaie, Iraq's deputy minister for natural gas affairs, will represent the country, Oil Ministry Spokesman Asim Jihad said by phone. Iran will send Opec Governor Hossein Kazempour Ardebili and National Representative Behrooz Baikalizadeh, said an Oil Ministry official. Emmanuel Kachikwu, Nigeria's minister of state for petroleum, won't attend, said a person familiar with the matter. Iraq has sought an exemption from joining any production cuts, arguing that its fight against Islamic State justifies special treatment. Iran has insisted it won't accept any limits on its production until it has returned to the pre-sanctions level of about four million barrels a day. Barkindo travels The talks in the Qatari capital run alongside behind-the-scenes diplomacy, including an unannounced meeting in recent days in London between Barkindo and Al-Falih. After traveling to Venezuela to meet with President Nicolas Maduro, Opec's top official will also visit Ecuador and Iran, two people familiar with the matter said Tuesday. "I have been encouraged and strengthened in my resolve to continue marching until we reach a final agreement" after meeting with Maduro, Barkindo said in Caracas yesterday. "This current cycle is probably the worst cycle of oil markets that we have entered in the last 50 years." Opec seeks an output cut among the group's members, and talks with non-Opec countries are far advanced, Maduro said. "We've been proclaiming the need for a new scheme for the stability of the oil market and prices and we are ready for the accord." Saudi requirements Opec pledged in Algiers to bring its production down to a range of 32.5 million to 33 million barrels a day, which compares with the group's own output estimate of 33.6 million last month. It's also seeking cooperation from Russia and other non-members, although so far none have committed to curbing output. Saudi Arabia, Opec's de-facto leader, is ready to cut production, but only if the effort is built around four pillars, said one delegate. All members must agree to collective action, pledge to share the burden of cuts equitably, and do so in a way that is transparent and has credibility with the market. The latter can be achieved by using Opec estimates of how much each member pumps, rather than relying on the countries' own figures, the delegate said. In practice, that means Saudi Arabia still thinks Iraq needs to cut output and Iran has to freeze production around current levels, the person said. Neither country has so far agreed to do that. Three countries — Libya, Nigeria and Iran — have been granted "special considerations" to implement the Algiers accord, Barkindo said. Iraq is not among these members, he said. In Libya and Nigeria, production is still recovering after a spate of violence and militant attacks targeted oil infrastructure. Saudi Arabia, Iraq and Iran are the largest producers within Opec, accounting for about 55 per cent of the group's output, according to data compiled by Bloomberg. — Bloomberg  |
| Singapore police: Beware of bogus online ads that offer S$1 iPhones Posted: 16 Nov 2016 05:31 PM PST
SINGAPORE — The police are warning the public not to click on an online pop-up advertisement that offers a S$1 (RM3.08) iPhone 7 deal, adding that at least 12 people have fallen for the scam since last month. The victims later found out that there were unauthorised transactions in various foreign currencies made to their credit cards after they registered for the deal, the police said in an advisory yesterday. In these cases, the victims had clicked on the ad which stated, "If you live in Singapore, you can get the iPhone 7 for just SGD 1.00/-", and were led to another website that showed a newspaper report on the offer and "testimonials" from people who had received the phone. To register for the offer, they were then directed to a phishing website to enter their personal information including name, address and bank account details such as credit-card number and the one-time password that banks issue. The victims later received SMS notifications of foreign transactions made on their credit cards. Online users are advised to be wary of offers that are "too good to be true", the police said, and to be careful when asked to enter personal information and bank account details over the Internet. They should also report any fraudulent charges detected in credit-card bills to their banks immediately. Another preventive measure is to look for signs of a secure website, such as the "https:" at the start of its Internet address, or the icon of a closed padlock at the bottom-right corner of the browser window. — TODAY  |
| Understanding the high-level vision together Posted: 16 Nov 2016 05:29 PM PST
This collaboration started with AIM initiating and implementing a programme called Innovation Business Opportunities (IBO) to develop a substantial compilation of intellectual property (IP) with high commercial potential. This compilation is then transferred by IP experts into a trading platform which is catered specially to promote industry take-up. The process requires expertise in the areas of market research and pitching the innovation in a way that attracts market interest. On the other side of the ecosystem, SME Corp was busy at work developing an overall framework for growing local small, medium-enterprises (SMEs) through the SME Masterplan (2012-2020), which outlines 32 initiatives, and six High Impact Programmes (HIPs). AIM and SME Corp, realising the added-value of working together, joined forces to set up PlaTCOM Ventures with the aim to bring together both segments of the innovation value chain, generators and takers, into one ecosystem with a seamless link between the two through a single platform — High Impact Programme 2: Technology Commercialisation Platform. This model is proven to be effective as it secures a large number of licence deals when local SMEs are empowered to commercialise their innovations HIP2. PlaTCOM was launched by Prime Minister Datuk Seri Najib Razak with this specific vision in mind and an ambitious goal of enabling an average annual increase of 10 per cent in high growth and innovative firms. Implementing on the ground With this vision, PlaTCOM hit the ground running in 2014 to implement HIP2. At its infancy stage, aggressive efforts were poured into creating an awareness for the platform amongst local SMEs. In our second year running, we have engaged with over 800 companies, regardless of whatever level their innovation development was at. Our mandate is to work with innovative SMEs so we are working hard to sniff out such enterprises even from as early as the start-up stage. After two years of being operational and with substantial track record of experience under our belt, we stand in a much stronger position today to add value to our local SMEs. HIP2 was designed to provide end-to-end facilitation to local SMEs and to do that, the platform does not only feature a continuous in-flow of IPs from generators such as universities and research institutes. It also needs to be expanded to provide services required by the companies to catalyse commercialisation. Within this programme, we provide the right ingredients for commercialisation to our local SMEs regardless of the stage of commercialisation they are in. It is important that we do not discriminate against ground-breaking ideas on the basis that they are still at a very early stage of proof-of-concept. For innovations at this stage, we will measure the investment risks involved and the potential return-on-investment to make an informed decision on the facilitation that can be provided by PlaTCOM through HIP2. Another key to a successful commercialisation model is to ensure that the main ingredients can be easily accessed from a single platform. These ingredients include market intelligence, access to technical assistance and incubation facilities, access to testing and regulatory services, IP advisory, legal advisory, business and corporate advisory, financial projections, pitching opportunities to investors, halal advisory, grant funding, etc. Typically, our first engagements with companies would be in the form of an interview by our Commercialisation Specialists who would ask specific questions to obtain preliminary information on the innovation, the gaps to commercialisation and to some extent, the market validation conducted. From this interview, our Commercialisation Specialists will advise on the value that PlaTCOM can provide to the companies to assist them in overcoming the gaps to market they faced. If the companies are interested to submit applications to be admitted into HIP2, our Specialists will continue to work closely with them to conduct due diligence and to develop a business case which will be presented to the HIP2 Steering Committee. We conduct detailed screening on each application that comes in and through a committee of experts, we decide the way forward for each of them. The assessment criteria include company background, strength of innovation, IP strategy and market potential. We received very encouraging feedback from companies that they have found the entire process of doing this hard work together with our Specialists to be, in itself, very rewarding as it opens their eyes to many opportunities or alternatives which they would otherwise not be aware of. As such, whether the companies are successful in terms of being admitted into the programme, they will certainly benefit just from participating in the application process as they receive business advisory from our Specialists. Concept-to-Commercialisation Gap Fund (CCGF) under HIP2 We acknowledge that a large gap that most SMEs face to commercialise their innovations is one that is financial-related and so developed a grant called Concept-to-Commercialisation Gap Fund (CCGF) under HIP2 to help reduce the risk to commercialisation and to increase the speed to market, especially for smaller businesses. This fund works on a co-funded basis between the SMEs and PlaTCOM and can cover activities such as proof-of-concept and prototype development, productisation, licensing support, testing and validation, regulatory/certification, technical assistance/consultancy, market intelligence and incubation services. If you are part of a majority Malaysian-owned SME with the passion to develop and commercialise innovations, we would love to hear from you. You can contact us at info@platcomventures.com. We certainly hope that through HIP2, more and more innovations would see the light of day at the end of the commercialisation tunnel. We would love to join you on this journey and make it a better one as it has always been and will be about "Innovating A Better Future Together." * Michelle Lim Woodliffe is a Commercialisation Specialist and HIP2 Programme Manager of PlaTCOM Ventures Sdn Bhd, the national technology commercialisation platform of Malaysia, a wholly-owned subsidiary of Agensi Inovasi Malaysia formed in collaboration with SME Corp. Malaysia.
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| Georgia executes inmate for murder of ex-girlfriend Posted: 16 Nov 2016 05:27 PM PST
ATLANTA, Nov 17 — A man condemned to death for the strangulation murder of his ex-girlfriend in 2001 was executed by the state of Georgia yesterday, after spurning any additional efforts for an appeal or 11th-hour reprieve. Steven Spears, 54, was put to death by lethal injection at the Georgia Diagnostic and Classification Prison in Jackson, about 80km south of Atlanta. He was pronounced dead at 7:30pm, state Attorney General Chris Carr said in a statement. Spears was the 18th person executed this year in the United States and the eighth in Georgia, the most of any state, according to the nonprofit Death Penalty Information Center. Yesterday, Georgia's pardons and paroles board denied a final request for clemency made on his behalf. A psychologist and psychiatrist who evaluated Spears on Tuesday at the request of prosecutors and defense lawyers said he told them he did not want to die but wished to forgo any further bids to spare his life because he was tired of prison. "I don't want to live like I'm living," Spears told Dr Matthew Norman during an interview, according to a report filed with the courts. "It's like a cancer eating me up every day." Both experts said they found Spears mentally competent. Spears told police he killed Sherri Holland, 34, at her home in Lumpkin County because he suspected she was dating someone else, according to court records. He said he hid in her son's bedroom until the early hours of August 25, 2001, and then attacked Holland, binding her hands and feet with duct tape before strangling her. "Last thing she said was she loved me," Spears told police after the killing. "Swear to God, that's the last thing she said. Last words came out of her mouth." Spears, who was arrested after hiding out in the woods for 10 days, showed no remorse for the killing at the time and was quoted as telling authorities: "If I had to do it again, I'd do it," according to the court synopsis. He was convicted and sentenced to death in 2007. The Georgia Supreme Court affirmed the death sentence in 2015 after an automatic appeal. — Reuters  |
| People’s Choice Awards: ‘Captain America,’ Rihanna lead nominations Posted: 16 Nov 2016 05:19 PM PST
As well as announcing the nominations for the upcoming People's Choice Awards, held January 18, the event organisers have opened voting for the 2017 awards. Members of the public can vote for their favourite movies, actors, actresses and TV shows online at the People's Choice Awards website or Facebook page until December 15. There are 64 awards categories for this 2017 edition, spanning the world of entertainment from movies and TV shows to music. With seven nominations, Captain America: Civil War is this year's favourite in the movies section, along with actor Kevin Hart, who has five nominations. Also with five nominations, Grey's Anatomy stands out in the TV category, while Rihanna and Drake lead the way in music with four nominations each. People's Choice Awards 2017: List of nominations in selected categories Movies Favourite Movie Captain America: Civil War Deadpool Finding Dory Suicide Squad Zootopia Favourite Movie Actor Kevin Hart Robert Downey Jr Ryan Reynolds Tom Hanks Will Smith Favourite Movie Actress Anna Kendrick Jennifer Lawrence Margot Robbie Melissa McCarthy Scarlett Johansson Favourite Movie Icon Denzel Washington Johnny Depp Samuel L. Jackson Tom Cruise Tom Hanks TV Favourite TV Show The Big Bang Theory Grey's Anatomy Outlander Stranger Things The Walking Dead Favourite Network TV Comedy The Big Bang Theory Black-ish Jane the Virgin Modern Family New Girl Music Favourite Male Artist Blake Shelton Drake Justin Timberlake Shawn Mendes The Weekend Favourite Female Artist Adele Ariana Grande Beyoncé Britney Spears Rihanna Favourite Group The Chainsmokers Coldplay Fifth Harmony Panic! at the Disco Twenty One Pilots Favourite Album Anti by Rihanna Dangerous Woman by Ariana Grande If I'm Honest by Blake Shelton Lemonade by Beyoncé Views by Drake Favourite Song Can't Stop the Feeling by Justin Timberlake No by Meghan Trainor One Dance by Drake feat. Kyla and Wizkid Pillowtalk by Zayn Work by Rihanna feat. Drake To see the full nominations list or to vote, visit here. — AFP-Relaxnews  |
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