Day: July 3, 2024

KUALA LUMPUR, The challenges in enacting a lemon law to protect consumers in vehicle purchases are among the highlights at today’s Dewan Rakyat sitting.

According to the Order Paper published on the Parliament’s official website, Datuk Shamshulkahar Mohd Deli (BN-Jempol) will ask a question about the level of cooperation given by industry players regarding the proposed law to the Domestic Trade and Cost of Living Minister during the oral question-and-answer session.

Datuk Mohd Suhaimi Abdullah (PN-Langkawi) will ask the Defence Minister for clarification on whether the government plans to review existing military camps far from the Malaysia-Thailand border and relocate them to more strategic locations.

Chong Zhemin (PH-Kampar) will request an explanation from the Communications Minister on the current status of the dual 5G network project implementation and the amount of equity Digital Nasional Bhd will release to telcos after the project’s completion.

After the session, the sitting will resume with the
debate on the motion for the Audit (Amendment) Bill 2024, which was read for the second time yesterday.

Domestic Trade and Cost of Living Minister is also scheduled to read the Limited Liability Partnerships (Amendment) Bill 2024 for the second reading.

Source: BERNAMA News Agency

Fourteen (14) Cambodian cultural artifacts announced to be returned to Cambodia in December 2023 have now arrived at the National Museum of Cambodia in Phnom Penh on July 3, said the Ministry of Culture in a press release AKP received this evening.

“This historic homecoming of our national treasures from one of the largest cultural institutions in the world, the Metropolitan Museum of Art (the MET), followed several years of negotiations between the Cambodian restitution team, the U.S. Attorney’s Office for the Southern District of New York (SDNY), Homeland Security Investigations (HSI), and representatives of the MET,” the ministry pointed out.

According to the source, the repatriation includes the extraordinary stone sculpture of a 10th century female goddess (Uma) from the ancient royal capital of Koh Ker. In 2021, the Ministry of Culture and Fine Arts successfully located her foot at Koh Ker temple complex, and based on testimony from former looters, determined that the body of the sculpture had been l
ooted in 1997. At last, the Uma can be reunified to achieve its full magnificence as one complete statue.

Another exceptionally rare and expertly crafted statue is a late 10th early 11th century bronze Bodhisattva Avalokiteshvara, designated by the MET as “Seated in Royal Ease”. The sculpture was sold to the MET by Douglas A.J. Latchford in 1992, whom the MET itself described as a nefarious dealer. Moreover, a significant returned artifact is a 10th century bronze head of the deity Avalokiteshvara, which the ministry highly anticipates finally being reunited with its matching torso, currently on display at the National Museum of Cambodia. The head is believed to have been looted in the 1990s and the torso was found in a river in the 1930s, in Battambang.

“This return of our national treasures, held by the MET, is of utmost importance not only for Cambodia, but for all of humankind. We have many more treasures at the MET which we also hope will be returned to Cambodia. We are thrilled that a number of privat
e collectors and museums have reached out to us in recent months, and we expect many more significant returns in the future,” stated H.E. Dr. Phoeurng Sackona, Minister of Culture and Fine Arts.

H.E. Minister further remarked: “This repatriation shows once again Cambodia’s continuing commitment to finding and bringing back our ancestors’ souls that departed from their motherland during past decades of civil war. We would like to express my utmost gratitude to Samdech Akka Moha Sena Padei Techo HUN SEN, former Prime Minister and President of the the Senate, for his wise leadership and peace with the Win-Win policy. Cambodians are today celebrating the return of our ancestors’ souls as a blessing to our new Prime Minister of the Kingdom of Cambodia, Samdech Moha Borvor Thipadei HUN MANET.”

H.E. Dr. Phoeurng Sackona thanked and praised the efforts of United States Attorney Damian Williams of the SDNY, the prosecutors from SDNY, especially Jessica Feinstein and Shiva Logarajah, the investigators from HSI, espec
ially Special Agents John P. Labbat and Robert Mancene, and all relevant authorities both abroad and in Cambodia, with particular thanks to the U.S. Embassy in Phnom Penh, and the ministry’s team of archaeologists and researchers. The minister also extended special thanks to Bradley J. Gordon of Edenbridge Asia, Steven Heimberg of Apex Advisors, Melina Antoniadis of NOSTOS Strategies, and Professor Ashley Thompson of SOAS who assisted with the negotiations.

H.E. Minister concluded: “These returns contribute to the reconciliation and healing of the Cambodian people, who endured decades of civil war and suffered tremendously from the tragedy of the Khmer Rouge regime. They also demonstrate the truly positive partnership we have developed with the United States.”

Source: Agence Kampuchea Presse

KUALA LUMPUR, Bursa Malaysia closed at its intraday high today, bolstered by broad-based buying amid improving global sentiment, an analyst said.

At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 1.08 per cent or 17.36 points to 1,615.32, up from Tuesday’s close of 1,597.96.

The benchmark index opened 1.64 points higher at 1,599.60.

On the broader market, gainers outpaced decliners 902 to 326, with 453 counters unchanged, 724 untraded and nine suspended.

Turnover rose to 5.47 billion units worth RM4.0 billion from yesterday’s 5.39 billion units worth RM3.99 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said major regional indices also closed higher, buoyed by positive signals from Wall Street.

He added Federal Reserve chair Jerome Powell’s comments renewed hopes that the US central bank may begin easing later this year.

Looking ahead, he anticipated continued positive investor sentiment, noting robust daily trading volumes indicative of strong market appetite.

‘No
netheless, we anticipate profit-taking activities. The FBM KLCI is expected to trade within the range of 1,600-1,620 for the remainder of the week, with immediate resistance at 1,620 and support at 1,580,’ he told Bernama.

Meanwhile, UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said today’s market performance was led by the construction and utilities sectors, both benefiting from rising investment in data centres, AI, and cloud services.

‘The optimistic outlook for the construction sector is further supported by a substantial pipeline of domestic infrastructure projects, as well as an upswing in project rollouts from the private sector across residential, commercial and industrial segments,’ he said.

Among heavyweights, Maybank and IHH Healthcare each rose by three sen to RM10.02 and RM6.33 respectively.

Tenaga Nasional added 18 sen to RM14.18, Public Bank gained one sen to RM4.05 and CIMB climbed eight sen to RM6.96.

Among the most active counters, Go Hub surged 60 sen to 9
5 sen, Aimflex rose 2.5 sen to 20 sen, WCT gained 9.5 sen to 98.5 sen, and UUE increased by one sen to 70.5 sen.

On the index board, the FBM Emas Index increased by 147.99 points to 12,460.73, the FBMT 100 Index gained 144.26 points to 12,028.58, the FBM Emas Shariah Index rose by 177.44 points to 12,826.61, the FBM 70 Index surged by 274.93 points to 18,349.65 and the FBM ACE Index advanced by 88.34 points to 5,974.36.

Sector-wise, the Financial Services Index edged up 66.72 points to 17,612.90, the Energy Index increased by 7.95 points to 988.08, the Industrial Products and Services Index rose by 1.97 points to 199.11, and the Plantation Index strengthened by 40.16 points to 7,026.03.

The Main Market volume increased to 2.97 billion units valued at RM3.28 billion from 2.67 billion units valued at RM3.24 billion on Tuesday.

Warrants turnover weakened to 1.10 billion units worth RM156.70 million compared with 1.58 billion units worth RM228.51 million previously.

The ACE Market volume expanded to 1.39 bil
lion shares valued at RM554.84 million against 1.14 billion shares valued at RM516.15 million yesterday.

Consumer products and services counters accounted for 402.48 million shares traded on the Main Market; industrial products and services (727.97 million); construction (463.0 million); technology (414.30 million); SPAC (nil); financial services (74.58 million); property (325.41 million); plantation (41.28 million); REITs (14.28 million); closed/fund (88,900); energy (176.78 million); healthcare (71.52 million); telecommunications and media (55.10 million); transportation and logistics (63.61 million); utilities (137.08 million); and business trusts (782.90 million).

Bursa Malaysia Bhd and its subsidiaries will be closed on Monday, July 8, in conjunction with Awal Muharam and will resume operations on July 9.

Source: BERNAMA News Agency

President of the Senate, Samdech Akka Moha Sena Padei Techo Hun Sen, has encouraged more efforts to further enhance the women’s empowerment on economic issue.

The former Prime Minister of Cambodia made the recommendation when he received here at the January 7 Palace this morning a delegation of Cambodian National Council for Women (CNCW) led by H.E. Dr. Ing Kantha Phavi, Minister of Women’s Affairs and President of CNCW.

After listening to the report on the CNCW’s achievements in 2023 and action plan for 2024, Samdech Techo Hun Sen, also Honorary Vice President of CNCW, said Cambodia should continue to strive to empower women on the economic activities as the number of women who are in the management position in the economic sector has reached 64 percent and the number of women workers is up to 75 percent.

The senate president suggested the CNCW to find ways to enhance both the economic power and the power of knowledge of women as he noted the gap between men and women in higher education.

Samdech Techo
Hun Sen also asked the Ministries of Justice and Interior to pay close attention to female inmates, pregnant inmates, especially those with their children.

Source: Agence Kampuchea Presse