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Sunday, March 5, 2023

A good payday for EPF contributors, as EPF declares 5.35% dividends for 2022

 Dividend a surprise, much more than economists predicted, says ecperts

PETALING JAYA: With the current economic challenges, the 5.35% dividend by the Employees Provident Fund (EPF) for 2022 is considered good for contributors, say economists.

Sunway University Economic Studies Programme director Prof Yeah Kim Leng called it laudable given last year’s challenging local and international financial as well as capital market conditions.

The Russian-Ukraine conflict and spikes in inflation and interest rates weren’t of help either, he said.

ALSO READ: RM145.5bil in EPF withdrawals made since 2020 

“Though lower than last year’s 6.1%, the 5.35% is above earlier expectations that were close to 5%,” said Prof Yeah.

“The performance is also respectable as the fund had to adjust its portfolio to meet the large withdrawals allowed as part of the Covid-19 pandemic support packages,” he said in response to EPF’s announcement yesterday.

The EPF declared a dividend rate of 5.35% for conventional savings, with a total RM45.44bil payout, as well as 4.75% for syariah savings. This amounts to RM5.7bil in payout.

ALSO READ: When wages go up, so will EPF’s funds, says CEO

In total, EPF will be paying RM51.14bil to contributors.

As for unhappiness among contributors over the dividend rates, Prof Yeah said it is not surprising for them to compare EPF returns with other pension funds as such funds are typically more conservative and earn lower but have more stable returns.

“By contrast, funds that generate higher returns entail taking higher risks. Therefore, many growth funds are earning much lower returns because of the financial market downturn in 2022 as evident by the nearly 20% decline in the Global MSCI (Morgan Stanley Capital International) benchmark,” he pointed out.

ALSO READ: Low wages must be addressed, 81% of active EPF members earn RM5,000 or less

Economist Datuk Jalilah Baba said EPF’s dividend rate still exceeded many pundits’ expectations.

“People will still receive payouts, which is a good sign. Perhaps it may not be what was expected but even I expected it to be around 4.5% to 5%.

“Based on EPF’s calculations, they can still afford to give people money, so it is good news for contributors. On the average, this is considered stable.

“If people were to compare, say with 2017 with its 6.9% dividend rate, you also have to look at the economy at the time because now the situation is totally different and filled with uncertainties.

ALSO READ: COMPETITIVE RETURNS AMID TOUGH INVESTMENT CLIMATE

“As such, the scenario has to adjust to the collection they have,” she said.

Meanwhile, corporate executive P. Suganya, 37, from Subang Jaya, Selangor said if EPF continued to give lower rates than previously, Malaysians might have to set aside their savings for other investment schemes as they might not have enough EPF savings for their retirement due to the volatile market.

However, she said most Malaysians could not afford to set aside part of their income for investments due to the high cost of living as well as the anticipated recession.

“This is worrying and the EPF is a fixed and reliable investment most Malaysians rely on. And the contributions are automatic and accounted for,” she said.

ALSO READ: EPF's assets under management drop for first time since 1985

“EPF has to be cautious in its investments in the current volatile market since the fund cited this as a reason for the lower gross investment returns,” she added.

Facebook user T. Gopal Thirumalai commented that even though people were worried about the shrinking size of the funds in EPF, it was important to know that good fund managers would get rid of low-yielding investments, shares and assets that actually give better returns.

“When high returning funds are no longer available and your fund size keeps increasing every month, what would you do with excess funds, month after month?

“On top of that, unlike instruments with fixed dividends, when you invest in shares, you cannot predict future returns.

“A share with historical high returns can become the opposite during uncertain times.

“At that time, you decide on what to do,” he posted on the social media platform. 

EPF is the safest bet | The Star

 

https://www.thestar.com.my/business/business-news/2023/03/11/epf-is-the-safest-bet

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Saturday, March 4, 2023

IC designer Oppstar focuses on talent, IPO offers good value for money

 

Oppstar is one the few Malaysian companies in the front-end of the semiconductor industry, offering a full spectrum of IC design services. The chips we design play a prominent role ushering in a new era of digitalization and are used in various industries including telecommunication, consumer electronics, industrial electronics and automotive. 

Oppstar was founded in 2014 by three IC design industry experts, with the vision to become a preeminent global Semiconductor brand in R&D.

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Oppstar Technology: We turn today's challenges into ...

“We would like to grow by double digits for our top and bottom line. our talent is our asset and our retention strategy is to pay them a competitive market rate.” Ng Meng Thai

WHILE Malaysia is known as having a strong base in the semiconductor industry, there are not many companies that operate in the higher parts of the sector’s value chain.

That is beginning to change, as a small number of companies are making a successful business out of designing integrated circuits (ICS).

IC designers, as they are called, design chips which are then tested out and manufactured by other parties.

One such IC designer in Malaysia is Oppstar Bhd, which is slated to be listed on the ACE Market in the middle of this month.

Its upcoming listing will see it raising funds mainly for the purpose of hiring more professional engineers.

This is a departure from the norm in the country’s public listing companies’ inclination where most of the funds raised would usually be channeled towards capital expenditure initiatives such as to build factory capacity or to acquire a fixed asset.

IC designers don’t need such assets as their value is in chip designing, which in turn is done by their engineering talent.

Investing in talent would help Oppstar expand its capacity to take on more projects and boost its competitive edge.

The company says it also aims to develop intellectual property (IP) assets with these new hires. The IP is meant to lead to additional income and at the same time improve its market profile.

In its prospectus, Oppstar says some of the IPS it aims to develop are for the RISC-V (or risk-five) based system on a chip. Such a system enables artificial intelligence and machine-learning applications to run on chips.

“These are technical terms in the industry but we can license these IPS separately or incorporate the IPS into future IC design projects,” Oppstar’s chief executive officer Ng Meng Thai tells Starbizweek.

The company would also like to expand into “post-silicon validation services” which would complement its IC design business.

The move would help improve its standing among its peers, says Ng, adding that all these plans would enable it to continue on its strong growth trajectory.

“We would like to grow by double digits for our top and bottom line. Our talent is our asset and our retention strategy is to pay them a competitive market rate,” Ng says.

Oppstar aims to more than double its engineering headcount to 500 from 220 presently and this effort would take up close to half of the funds or Rm50mil raised from its initial public offering (IPO).

Ng claims that demand for the company’s expertise is strong as it wants to expand its geographic reach to India, Singapore and Taiwan with the allocation of about a quarter or Rm25mil of the IPO proceeds.

“From time to time, we receive enquiries from customers. For the next three years or so, we would still need to continue to go out to find more customers to consume our capacity of 500 staff,” he says.

Its customers comprise integrated device manufacturers, fabless and fablite companies, electronic system providers and other IC design houses.

End-industries that require such expertise are the consumer electronics, telecommunications, industrial electronics and automotive sectors.

Its financials showed a gross profit margin of close to 60% and net profit margin of 33% in the financial year 2022 (FY22).

The company says its strong margins are driven by having turnkey design service projects, which command better margins when compared to specific design services.

As at the time of its prospectus issuance, Oppstar’s order book stood at Rm34.29mil, which mainly consists of turnkey design services and is expected to be recognised in the next 12 months.

With zero borrowings, Ng says the company will be in a good position to quickly capture opportunities and have these delivered to its bottom line immediately.

Notwithstanding that, retaining its talent that grants it its competitive advantage is key to its sustenance.

“We notice that younger talent are a bit different in valuing a job from what was considered as good 10 to 20 years ago, as workers then tend to value jobs from multinational companies (MNCS).

“Younger engineers surprisingly now would like to try all the different IC designs before locking themselves down in their career,” he says.

“If you go to an MNC, you would be focused on a very niche and narrow field in IC design. But since we have a broad customer base, our engineers will have the opportunities to experience a variety of design work.

“Also we have overseas customers as some 80% of our revenues are from overseas, so there are a lot of travelling opportunities for them as well,” Ng adds.

He points out that some 14% of the company’s public issue of new shares would be available for its eligible directors, employees and business associates who have contributed to its success.

“This would help us retain some of our talent for the longer term. Last year, we saw a low single-digit rate in the turnover of our manpower.

“The original team of the three founders that started the company have stayed on until now and we grew the employee count to about 220 currently,” he adds.

The company is also eyeing other growth opportunities such as through joint ventures and inorganic ones after its listing. 

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Oppstar IPO offers good value for money | The Star

 

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Address: Universiti Sains Malaysia, 6th floor, Inkubator Inovasi Universiti (I2U Building, Lebuh Bukit Jambul, 11900 Bayan Lepas, Penang

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Headquarters. ​. Oppstar Technology Sdn Bhd. Level 6 ...

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MAHATHIR: A RACIST EXPOSED, Crime Watch Malaysia!

 

 

Arthur Toh

 “At the moment he is not trying to save the country, he is more worried of what will happen to his children in the future. Even the wealthiest person on earth would not be able to give birth to three ‘billionaires’. TMJ.

 
 
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Thursday, March 2, 2023

US hypes old 'lab-leak' theory in new information war operation against China

 


Three years into the COVID-19 pandemic, the US again gave the "lab-leak" theory a major boost, as its Energy Department, citing "new intelligence" but holding "low confidence" in it, joined the FBI in smearing China.

Reported exclusively by the Wall Street Journal (WSJ) on Sunday, the claim immediately made headlines in major US news outlets. However, its timing and source "only show the low credibility" of the report, analysts said, adding that the new hyping of an old topic is part of the US' political and information warfare with China.

Mao Ning, spokesperson of the Chinese Foreign Ministry, said at Monday's routine press briefing that the origins-tracing of SARS-CoV-2 is about science and should not be politicized. Certain parties should stop rehashing the "lab leak" narrative, stop smearing China and stop politicizing the origins-tracing, she noted.

The WSJ reported that a classified intelligence report provided by the Energy Department to the White House and key members of Congress said the virus likely spread due to a mishap at a Chinese laboratory.

The department admitted to having "low confidence" in the conclusion, which was made after "new intelligence" was gathered by the department's network of national laboratories, according to the WSJ report.

One of the WSJ report's authors is Michael R. Gordon, who was behind the "weapons of mass destruction" narrative the US fabricated to justify its invasion of Iraq 20 years ago.

Lü Xiang, research fellow with the Chinese Academy of Social Sciences, told the Global Times on Monday that the timing of the hype is not a coincidence, and that the US will not leave COVID out of its "ammunition depot" against China.

China's smooth transition in its COVID-response policy over the past months didn't give the US a chance to attack China over an out-of-control epidemic or economic failings, which is why the US had to rehash the same old story, Lü said.

Lü also ascribed the latest hype to the earlier-than-usual presidential election campaign, as media will bring topics to the table for both parties to "make a fuss about."

The WSJ report has already prompted debate between Trump supporters and opponents on Twitter. Some netizens also suspected the report aims to divert public attention from recent US mishaps, such as the train derailment and chemical leak in Ohio.

The WSJ report remained very ambiguous in its wording despite its sensational headline. National Security Advisor Jake Sullivan said there is "not a definitive answer" on the origins tracing as the intelligence community has "a variety of views."

Being ambiguous and non-official and using media rather than government departments to announce something demonstrated the US' skill in fighting a political war, Lü said.

Hysterical crusades against China have become a signature of the US in our time. To win the competition with China, the US will not let a single chance go by to smear China, whether it is a balloon that has gone astray, a carefully planned "lab-leak" theory, or unfounded weapon supply accusations regarding the Russia-Ukraine conflict, the expert said. 

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US campaign to smear China knows no limits | The Star

 

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Wednesday, March 1, 2023

When White House cracks down on TikTok, what is US afraid of?

 


The US, with around 750 military bases across the globe, warships in most oceans, which is waging a proxy war, stirring up conflicts here and there, is now vehemently making a fuss about so-called "threats" it is confronting: Earlier this month, it was balloons, and now, it is TikTok.

The White House on Monday gave government agencies 30 days to ensure they do not have short-video platform TikTok on federal devices and systems, Reuters reported on the same day. In December last year, US Congress voted to bar federal employees from using the video app on government-owned devices. Now, US President Joe Biden officially tossed out the deadline.

The decision is as unreasonable as Biden's order to shoot down balloons with missiles. It is a typical irrational action generated by security anxiety stemming from a kind of mental illness, Shen Yi, an international relations expert from Fudan University, told the Global Times.

If the move reveals anything, it is that the US has gone hysterical in its anti-China stance while its relevant decisions have gone far beyond reality. TikTok has been trying to demonstrate its global nature. However, in the eyes of American elites, being born in China is an "original sin."

Over the past years, TikTok has been questioned on whether the Chinese government has access to US user data; whether its content is censored by China; whether its stored US user data is based on US soil … However, after TikTok appropriately responded and met all these requirements, the US still claims the app is a "national security threat."

In 2020, then president Donald Trump even tried to mandate that ByteDance, TikTok's parent company, strike a deal to sell TikTok's US operations. In other words, the US government has been attempting to harm this globally leading short-video platform which was not born in the US, using various excuses.

The latest ban is aimed at government devices and will only affect a small portion of TikTok's users in the US, yet some observers believe that, the US is actually attempting to fan the flames of a wider call to ban the app throughout the country. On the global arena, some US allies have already followed suit. Also on Monday, Canada announced a ban on TikTok from government-issued devices. Last week, the European Commission and Council of the EU, EU's two biggest policy-making institutions, banned staff from using the app.

It is a mystery why the US and its Western allies are afraid of TikTok, when there is no evidence to prove its "danger," and when it is basically a purely entertainment platform, which people can download out of their own free will. Against the backdrop, banning TikTok is absurd. And the US is behaving like the emperor in the folktale "The Emperor's New Clothes." Don't ask why he has no clothes, he is just being unreasonable and even mentally ill, Shen said.

"How unsure of itself can the world's top superpower be to fear a young people's favorite app like that?" Mao Ning, Chinese Foreign Ministry spokesperson, asked at a daily briefing on Tuesday, when responding to the White House's TikTok ban.

It cannot be ruled out that the Biden administration needs some scores to demonstrate its capability to keep staying in the White House and protect so-called US national security, observers noted. Moreover, reports show that TikTok was the most-downloaded app worldwide. That being said, killing TikTok means US internet companies will have one less competitor.

US Federal Chief Information Security Officer Chris DeRusha said this latest decision on TikTok is "part of the Administration's ongoing commitment to securing our digital infrastructure and protecting the American people's security and privacy."

US officials keep talking about "American people's security and privacy," do they mean it? As George Galloway, a six-term British parliamentarian, tweeted, "It's American intelligence, not Chinese, which is coming through your back door, your front door and all of your windows."

Worse, it was speculated that Washington's balloon frenzy earlier in February has a lot to do with covering up the scoop over what US did behind Nord Stream bombing. There is also reason to suspect the hype of TikTok is aimed at distracting people from Ohio derailment and chemical spill. Thanks to social media platforms like TikTok, short videos can be uploaded anytime and anywhere. And they helped to push the story into the public when traditional mainstream media covered their eyes. US' crumbling railway system is shocking, and US government's attempt to cover up the toxic train has been nakedly exposed to the world. 

 

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