Latest news with #Penang
Malay Mail
a day ago
- Malay Mail
Penang factory manager falls for fake US businessman, loses RM300,000 in Facebook romance scam
GEORGE TOWN, June 27 — An analysis manager at a factory in Bayan Baru, here, lost RM300,000 after falling victim to a love scam through social media. Penang Police deputy chief Datuk Mohd Alwi Zainal Abidin said the incident began when the 45-year-old woman became acquainted with a man claiming to be an American citizen via Facebook in November last year. He said not long after, they started communicating via WhatsApp after the man allegedly expressed a desire to pursue a serious relationship with the victim. 'The suspect introduced himself as a businessman in the field of information technology (IT), claiming to be operating a business in a foreign country. 'After a month of getting to know one another, the suspect told the victim that his bank account had been frozen in that country and asked for her help to make payments for the delivery of important stock related to his business,' he said in a statement today. Mohd Alwi said the suspect promised to repay the money and even offered additional payment as a token of appreciation to convince the victim. Lured by the online romance and trusting the suspect, the woman then made 16 transactions to five different bank accounts between December 12 and 14, 2024. However, the victim realised that she had been scammed when the suspect asked for more money, allegedly to cover his travel expenses to visit her in Malaysia. He also sent her a tampered photo of a passport. Mohd Alwi said the woman lodged a police report at the Barat Daya police headquarters yesterday. The case is being investigated under Section 420 of the Penal Code for cheating. — Bernama
CNA
a day ago
- Business
- CNA
CNA938 Rewind - A Letter to Myself: From food to finance, Sean Lim shares his hard-won path to success
Sean Lim is a managing partner at investment firm NWD Holdings. He's also co-owner of an upcoming Radisson Blu beachfront luxury hotel in Penang, a deal he personally brokered with one of the world's largest hospitality groups. Sean's path to success began in the food industry, which gave him a taste of success after a childhood defined by challenges with his self-esteem and an early-adulthood marked by a number of entrepreneurial setbacks. But he kept moving forward. Sean shares the most valuable personal and entrepreneurial insights he's gained on his journey of perseverance.
Malay Mail
2 days ago
- Business
- Malay Mail
Cambodia Airways launches direct Phnom Penh–Penang flights
GEORGE TOWN, June 26 — The inaugural Cambodia Airways direct flight from Phnom Penh to Penang marks a key milestone in strengthening regional ties and enhancing connectivity with Asean neighbours. Penang Tourism and Creative Economy Committee chairman Wong Hon Wai said the launch was both timely and significant, particularly as Malaysia assumes the Asean Chairmanship this year. 'This route not only creates a new aerial corridor linking Penang with an Asean neighbour, but also highlights Penang's growing strategic role in the regional aviation network,' Wong said in a statement today. He noted that Cambodia is now the sixth Asean country with direct air links to Penang, after Thailand (Bangkok, Don Mueang, Phuket), Indonesia (Medan, Jakarta, Surabaya, Banda Aceh), Singapore, Vietnam (Ho Chi Minh City) and Myanmar (Yangon). Wong said the new route also carries strategic weight for the development of Penang's MICE (meetings, incentives, conventions and exhibitions) tourism sector. 'Improved air connectivity not only offers greater convenience for delegates, business travellers and professionals, but also reinforces Penang's position as a regional MICE hub in South-east Asia,' he said. He added that while Kuala Lumpur, Singapore and Penang currently lead the Asean MICE market, the regional landscape is evolving. He said cities such as Bangkok, Ho Chi Minh City, Jakarta and Yangon have ramped up investments in convention infrastructure and city branding. 'Therefore, Penang must seize the momentum by strengthening its connectivity with Asean nations and forging strategic partnerships to attract more high-end professional events, ultimately expanding the state's presence in the Asean MICE ecosystem. 'The state will continue to uphold its strategy of 'air connectivity leading, industries flourishing' by actively expanding its network of direct flights and positioning Penang as a more open, diverse and high-quality international tourism destination,' he added. Earlier today, the inaugural flight departed Phnom Penh International Airport at 8.05 am (local time) and landed at Penang International Airport at 10.31 am, where it was welcomed with a traditional water salute. The service will operate twice weekly, on Thursdays and Sundays. Cambodia Airways was welcomed on behalf of the Penang government by Penang Convention and Exhibition Bureau director and Kebun Bunga State Assemblyman Lee Boon Heng, representing Wong. Also present were Malaysian Ambassador to Cambodia Shaharuddin Onn and Tourism Malaysia deputy chairman Datuk Yeoh Soon Hin. Meanwhile, Lee said the agency is actively targeting the incentive travel segment and looks forward to collaborating with stakeholders to position Penang as a top destination for high-impact international business events. 'The launch of this route is expected to boost international arrivals and support Penang's broader tourism and economic development strategies. 'It also gives Penangites greater access to Cambodia's rich cultural heritage, ancient temples and emerging travel experiences,' he added. — Bernama
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Subsidised cooking oil sold as prayer oil with 228% markup, claims group
The Penang Hindu Association said some unscrupulous suppliers are rebranding subsidised cooking oil as prayer oil and selling it for hefty profits. PETALING JAYA : The Penang Hindu Association (PHA) has raised concerns over the misuse of subsidised cooking oil by suppliers who repackage and resell it as prayer oil at inflated prices. In a statement, the group said subsidised cooking oil, which retails at RM2.50 per litre, was being repurposed and sold as prayer oil at RM8.20 per litre or more – a profit margin of over 228%. 'These subsidies have been misused by some unscrupulous suppliers who profit from rebranding the cooking oil as prayer oil and selling it for hefty profits,' said PHA. The association said the issue was not new, as domestic trade and cost of living ministry officers had caught traders engaged in similar practices before. In January, for instance, a Johor man was caught by the ministry's officers repacking 5,100 bottles of subsidised cooking oil as prayer oil. PHA urged the ministry to intensify its monitoring efforts and conduct thorough inspections of the sourcing and pricing of prayer oil sold at temples and retail outlets. It also called for the full implementation of the cooking oil price stabilisation scheme system (eCOSS) to help track subsidised cooking oil from refineries to retailers. 'We also urge the ministry to instruct prayer oil traders to clearly state on the labels the source and retail price of the prayer oil,' said PHA. Domestic trade and cost of living minister Armizan Mohd Ali previously told FMT that eCOSS had been introduced in 2023 to track the supply chain of subsidised cooking oil. Since last year, repackers and refineries have been required to submit subsidy claims based on eCOSS records. However, the system only tracks distribution from refineries to repackers, wholesalers and retailers, leaving a gap at the retail level, he said. Such limitations increase the risk of leakage, including smuggling and the fraudulent repackaging of subsidised cooking oil for resale at higher prices. The government spent RM1.945 billion in 2024 to provide 60,000 tonnes of subsidised oil packets monthly at RM2.50 per kg under eCOSS. However, the scheme drew criticism after enforcement operations revealed that foreigners were among those benefitting from the subsidised cooking oil. This led to renewed calls for the replacement of the subsidy with a cash transfer system based on verified household consumption to ensure that only deserving Malaysians receive the aid.
Malay Mail
2 days ago
- Business
- Malay Mail
PBAHB posts record RM144m profit, seeks over RM1b for water infrastructure, says Chow Kon Yeow
GEORGE TOWN, June 26 — Penang Water Supply Corporation's (PBAPP) holding company PBA Holdings Bhd (PBAHB) recorded the highest net profit of RM144.167 million in its 26-year history. This is a 319.7 per cent increase in net profit compared to a net profit of RM34.348 million in 2023. PBAHB and PBAPP chairman Chow Kon Yeow attributed the record net profit to the Penang water rate review that was implemented from February 1 last year. 'This is an outstanding achievement but it does not serve to fill PBAHB's coffers or to enrich the company,' he said in a press conference after PBAHB's 25th annual general meeting. He said the 2024 water rates were still insufficient to fund all projects under the Water Contingency Plan 2030 (WCP 2030). Chow, who is Penang chief minister, said PBAPP will still need to invest about RM2.099 billion to complete six new water supply infrastructure projects under the WCP 2030. 'PBAPP's projected capital expenditure (capex) for upgrading existing infrastructure is RM86.8 million in 2025,' he said. He said PBAHB and PBAPP will still need to raise more than RM1 billion in the next few years even though Pengurusan Aset Air Berhad will be providing long-term leasing arrangements for two WCP 2030 projects. 'We will announce when we obtain the funding for WCP 2030 projects,' he said. When asked how the funds will be raised, Chow said there will be a possible issuance of sukuk which will be announced shortly. When asked about a possible water tariff review to raise the RM1 billion, Chow said it is under the jurisdiction of National Water Services Commission (SPAN). 'SPAN has presented a proposed water tariff review and is now awaiting Cabinet approval before it is gazetted for several states to implement the review,' he said. He said there will be a tariff review every three years and it will be subjected to Cabinet approval before implementation of the final tariff review. During the AGM earlier today, shareholders approved a final dividend of 2.25 sen per share. The projected total payout to 7,157 shareholders will be RM7.5 million on August 1. This is the 24th consecutive year that PBAHB will pay dividends to its shareholders. Chow also said PBAPP produced the largest volume of treated water last year at 1,208 million litres per day (MLD). 'With a non-revenue water (NRW) percentage of 28 per cent in 2024, total water consumption in Penang was recorded as 870 MLD,' he said. He said the national average NRW in 2023 was 34.6 per cent. 'However, we will not be complacent, PBAPP has been directed to implement plans to lower the NRW in Penang,' he said. He said PBAPP now has a 1,726 MLD maximum design capacity for treated water production with the opening of Package 12A of the Sungai Dua Water Treatment Plant (WTP) in September last year. 'This leaves us with a 30 per cent reserve margin as compared to national average of 15.3 per cent in 2023,' he said. Chow said the water demand in Penang may reach 1,532 MLD by 2030. However, he said Penang faced several challenges in meeting water demand as it is a small state with limited land bank for PBAPP to build more dams. 'We do not have much forest land left in Penang to serve as water catchments,' he said. He said climate change has affected rainfall in Penang's water catchment areas. 'Since 2021, the Air Itam Dam and Teluk Bahang Dam have not been refilled to 100 per cent,' he said. He said Sungai Muda is Penang's one and only major raw water resource but currently the Perak-Penang Water Project is underway. 'We are still awaiting the first meeting to be held between Perak and Penang on this project,' he said. He said technical aspects of the project are underway in Perak and Penang is close to beginning negotiations on commercial terms of the project. He said Penang is also looking at other alternative water resources such as Sungai Prai and Sungai Kerian. 'We are building a new treatment plant just beside Sungai Muda and there are plans to build onsite retention ponds,' he said. He said there was a drop in per capita domestic consumption last year from 284 litres per capita per day (LCD) in 2023 to 261 LCD in 2024. 'However, 261 LCD is still higher than the national average of 228 LCD in 2023,' he said. He said PBAPP is hoping to reach a water consumption target of 250 LCD this year.
