Psychological empowerment has been studied extensively over the past few decades in a variety of contexts and appears to be especially salient within dynamic and complex environments such as healthcare. However, a recent meta-analysis found that psychological empowerment relationships vary significantly across studies, and there is still a rather limited understanding of how empowerment operates across levels. Accordingly, we advance and test a multi-level model of empowerment which seeks to better understand the unique and synergistic effects between unit and individual empowerment in hospital units. Analysis of data involving 544 individuals in 78 units, collected from multiple sources over three different time periods, revealed that unit empowerment evidenced a synergistic interaction with individual-level psychological empowerment as related to individuals' job performance, as well as an indirect effect on performance via individual empowerment, while controlling for previous performance levels. Notably, these effects were significant at relatively high, but not at relatively low levels of unit empowerment. Furthermore, we found that unit voice climate increased unit empowerment and thereby enhanced individual psychological empowerment. These findings suggest that, in complex and dynamic environments, empowering work units is an important means by which leaders can enhance individuals' performance.

The interview questions deal with the means by which Estonia and other republics of the former Soviet Union managed to transform their educational systems and the impact of the Soviet heritage on this transformation. An interview was conducted with Professor Olav Aarna. In 1991 Professor Olav Aarna became the rector of TUT. From 2000 to 2003 he held the position of rector of the first private university in Estonia - Estonian Business School (EBS). From 2003 to 2007 Olav Aarna was member of the Estonian Parliament, serving also as Chairman of the Committee for Cultural Affairs responsible for education, research, culture and sports affairs. From 1998-2000 he was Vice Chairman of Estonian National Council for Research and Development. His experience in the field of educational legislation stems from his advisory position to the Minister of Education of Estonia from 1990 to1992. His competence in the field of the Bologna process results from the development of higher education legislation in Estonia (2002-...) and the development of a higher education quality assurance system for Estonia (2008-...). Olav Aarna has consulted third countries in the national qualifications framework (NQF) development as a European Training Foundation (ETF) expert.

Prior research on mergers and acquisitions (M&As) has substantially advanced our understanding of how isolated acquirer- and deal-specific factors affect abnormal returns. However, investors are likely to perceive and evaluate M&As holistically—that is, as complex configurations (i.e., Gestalts) of characteristics, rather than as a list of independent factors. Yet, extant M&A literature has not addressed why and how configurations of factors elicit positive or negative reactions. In other words, overlooking the interdependent nature of factors known to influence acquisition success has limited our understanding of both M&As and investor judgment. Taking an inductive approach to addressing this important issue, this study relies on fuzzy set methodology. Our results provide compelling evidence that investor perceptions of M&A announcements are not only configurational in nature but also characterized by equifinality - or the presence of multiple paths to success - and asymmetric causality - that is, configurations that represent bad deals are not simply a mirror image of good deals, but differ fundamentally. By constructing a typology of "good" and "bad" deals as perceived by market participants, we develop a mid-range theory of M&A stock market performance. As such, this study offers novel theoretical and empirical insights to scholars, and implications for practitioners.

Agency theory-grounded research on boards of directors and firm legitimacy has historically viewed CEO power as de-legitimating, often taking this fact for granted in theorizing about external assessors' evaluations of a firm. With few exceptions, this literature has focused exclusively on capital market participants (e.g., investors, securities analysts) as the arbiters of a firm's legitimacy and has accordingly assumed that legitimate governance arrangements are those derived from the shareholder-oriented prescriptions of agency theory. We extend this line of research in new ways by arguing that customers also externally assess firm legitimacy, and that firms potentially adjust their governance characteristics to meet customers' norms and expectations. We argue that the cultural-cognitive institutions prevalent in customers' home countries influence their judgments regarding a firm's legitimacy, such that firms competing heavily in high-power distance cultures are more likely to have powerful CEOs, with CEO power a source of legitimacy—rather than illegitimacy—among customers. We also argue that the more dependent a firm is on its customers and the more salient cultural power distance is as a demand-side institutional norm, the greater this relationship will be. Data from 151 U.S. semiconductor and pharmaceutical firms over a 10-year period generally support our predictions.

"Best Places to Work" (BPTW) and similar competitions are a proliferating form of third party employment branding. Little is known, however, about how single or repeated third party employment branding occurrences relate to key human capital outcomes. Extending signaling theory by considering signal credibility and comparability, we use archival and survey data from 624 BPTW participants in sixteen competitions across a three-year period to develop and test hypotheses linking BPTW certifications to collective turnover rates and key informant perceptions of applicant pool quality. We find that certifications are associated with lower turnover rates, and in addition, propose competing crystallization and celebrity hypotheses that model turnover trajectories with repeated certifications, finding diminishing marginal turnover reductions across multiple certifications. We also examine company size and industry job opening moderators, finding that as certifications increase, applicant pool quality is (1) higher in smaller companies and (2) higher when job openings are scarcer. Finally, beyond being certified or not, we find supplemental evidence for effects of the specific certification level achieved (e.g., 2nd versus 15th). This investigation advances theory related to collective turnover, applicant pool quality, and employment branding, and is relevant to company decisions about seeking or re-seeking third party certifications.

We examine how top management team (TMT) misfit, defined as discrepancies between the TMT's functional roles and the qualifications of the managers who fill those roles, affects the evolution of TMT composition and structure in a longitudinal study of entrepreneurial ventures. We distinguish two types of misfit - overqualification and underqualification - and study how each is associated with TMT changes. We further consider the moderating effect of firm development. Results reveal that underqualified TMTs hire new managers to reinforce existing capabilities whereas overqualified TMTs elaborate their role structures. However, achieving developmental milestones (i.e., obtaining venture capital funding and staging an initial public offering) is a critical contingency to TMT change: absent these milestones, firms neither hire new managers nor add roles, even when they seemingly need to do so. These findings contribute to knowledge of how TMTs and new ventures evolve by underscoring the importance of simultaneously attending to TMT composition and structure.

We examine when and why creative role identity causes entitlement and unethical behaviors and how this relationship can be reduced. We found that the relationships among the creative identity, entitlement, and dishonesty are contingent on the perception of creativity being rare. Four experiments showed that individuals with a creative identity reported higher psychological entitlement and engaged in more unethical behaviors. Additionally, when participants believed that their creativity was rare compared to common, they were more likely to lie for money. Moreover, manipulation of rarity of creative identity, but not practical identity, increased psychological entitlement and unethical acts. We tested for the mediating effect of psychological entitlement on dishonesty using both measurement of mediation and experimental causal chain approaches. We further provide evidence from organizations. Responses from a sample of supervisor-subordinate dyads demonstrated that employees reporting strong creative identities who perceived creativity as rare in their work-group rather than common were rated as engaging in more unethical behaviors by their supervisors. This paper extends prior theory on negative moral consequences of creativity by shedding new light on assumption regarding the prevalence of creativity and the role psychological entitlement plays.

Studies suggest that category-spanning organizations receive lower evaluation and perform worse than organizations focused on a single category. We propose that (1) these effects are contingent on clients' theory of value and that as clients expect more sophisticated services, they tend to value category spanners more positively and (2) the evaluation of producers mediates the relationship between category spanning and performance. We test our hypotheses using original data on corporate legal services in three markets (London, New York City, and Paris) over the decade 2000-2010. We find that (1) category spanners receive a better evaluation, and more so when their categorical combination is more inclusive and (2) evaluation mediates significantly the relationship between category spanning and performance. This study enriches our understanding of how audiences apprehend a whole market category system and why organizations span categories.

We study the interplay between regulatory mandates and competition on a focal firm's new resource investments. While prior literature has separately pointed to the influence of competition and regulatory policy on a focal firm's resource decisions, less is known about how the policy effect interacts with the competitive effect. Studying how regulatory mandates moderate the effect of competition on a focal firm's new resource investments, we show that resource redeployment is not simply a function of internal firm decisions but a response to external forces. We find that regulatory mandates dampen the effect of competitors' new resource investments on a focal firm's new resource investments. Distinguishing between different clean technology types, we show that this dampening effect is the stronger, the more distant the new resource is from incumbents' old resource base, and the more established the mandate is. We test our hypotheses in the context of renewable energy investments in waste-to-energy, wind, and solar in the U.S. electricity industry. Our data comprises 1542 utilities and private energy firms and their renewable investments from 1999 to 2010.

The burgeoning economic inequality between the richest and the poorest is a cause of concern for social, political, and ethical reasons. While businesses are both implicated and affected by growing inequality, business schools have largely neglected to subject the phenomenon to sufficient critique. This is, in part, because far too many management educators rely on orthodox economic perspectives—often represented by neoliberal capitalism—which have dominated the curricula and the teaching philosophy of business schools. To address this issue, this article underscores the need for business schools to critically examine the relationship between neoliberal capitalism and economic inequalities, and to overtly engage with this nexus in pedagogical practice. The article concludes by revisiting the concepts of relationality and answerability as paths by which to address the current predicament. Relationality and answerability collectively offer: i) conceptual and reflexive tools by which to re-imagine business school education, and, ii) space for business schools to debate important questions about the taken-for-granted, but problematic, assumptions underlying the ideology of neoliberal capitalism

A penalty awarded to West Ham during Erik ten Hag's final match in charge of Man Utd was a 'misread', according to refereeing boss Howard Webb.

Many online are raising questions about a recent spate of public violence, as officials continue to censor discussion.

One of Britain's most distinguished actors, West was married to Fawlty Towers star Prunella Scales.

LaToya claimed self-defense, but Manassas, Virginia Prosecutor D. Burke Walker had other ideas and charged the woman with second-degree murder.

A new Trump administration will be far better prepared to restore Constitutional order than the first Trump administration.

For now, there are several good choices for gun owners that DeWine can make, a few problematic ones, and one that’s completely unacceptable, his previous pick Dolan.

BUILDINGS contribute 80-90% of the world’s carbon emission; they thus represent the biggest opportunities for climate-change mitigation through carbon reduction.

Universities, as owners of buildings that remain theirs for years to come, have a special responsibility to arrest climate change through sustainable operation. Management and Science University (MSU) recently achieved a Diamond-2 rating in the SEDA Malaysia Sustainable Energy Low Carbon Building Assessment 2020.

Recording 24.21% less emission against baseline measurements in 2019 – an annual saving of 5,646,661 kWh or 3,918.78 tonnes less carbon dioxide in 2020 – MSU is well on its way to supporting governmental target of 40-45% less CO2 in 2030.

In honour of this achievement, MSU President Professor Tan Sri Dato’ Wira Dr Mohd Shukri Ab Yajid was presented with the University’s first green certification by SEDA Acting Chief Strategic Officer TS Steve Anthony Lojuntin.

With the Green Pass, MSU emerged the first private institution of higher education in Malaysia to receive the Sustainable Energy Development Authority (SEDA) Diamond-2 rating.

MANY will have forgotten a speech by Prime Minister Datuk Seri Anwar Ibrahim last May, in which he called for more frequent dialogues between people of different faiths to build bridges across cultures and religions.

Last November, Anwar spoke on the importance of moral empowerment and how the values shared by two religions – Islam and Confucianism – can guide us towards more ethical paths.

The big lesson we can learn from Confucius is that relationships in the family should be a model for larger circles of relationship. From Islam, we learn that we need to organise ourselves into a unified citizenry to shape a new era of global ethical governance.

Anwar’s remarks are timely as Malaysia has sunk into a deep moral crisis, and everyone needs to realise that if this crisis stays unresolved, it will cripple our nation. It is the crisis of dishonesty.

Johan Jaafar, a renowned journalist, had written two years ago: “Some believe integrity, the very foundation of honesty and consistency of character, is fast evaporating. We have changed as a nation, sadly not for the better. Dishonesty is a virus that is endangering the future of the nation.”

Imagine the consequences if every member of a family is dishonest: spouses are dishonest with each other, and as parents they are dishonest with their children. In turn, children are dishonest with their parents and siblings. The family will break up. This is Malaysia’s fate if we fail to eliminate the web of dishonesty before it enwraps us all in its coils like a million-tentacled monster.

The lack of honest responsibility infects the public and private sectors as well as their hybrid entities – the government-linked companies (GLC) and government-linked investment companies (GLIC).

Let us start by examining the visible signs of dishonesty within the public sector. Almost all of our cities have one common feature: unrepaired potholes and road depressions. It may take months for local councils to act, and when contractors are hired, they frequently use substandard materials.

But why is it dishonest for civil servants to be slow in addressing these issues? Officers are paid to be productive, and not to slack. Delays cost money, and the cost is unmeasured because vehicle repair expenses are borne by vehicle owners.

Many road users have suffered vehicle damage, bodily injuries, and some have even lost their lives due to long-unrepaired potholes and road iron covers that sit lower than the road surface. Little effort is made to raise these iron covers, which sink over time due to cracks in the surrounding concrete or when the road is resurfaced.

Walk through most of our cities and notice the poor maintenance that characterises many public buildings, infrastructure and amenities. The upkeep of drains is particularly appalling.

Litter on public streets and sidewalks often remains uncollected for weeks and months, yet
cleaning service contractors are routinely paid their monthly fees. Isn’t this blatant dishonesty?

Lately, it has been revealed that the C-suites of some GLC and GLIC routinely enjoy fully paid luxury overseas holidays regardless of whether their companies outperform or underperform. Are these legitimate job rewards?

Let us turn to the private sector. Everywhere you look, the monster of dishonesty is prowling. Our cities are dotted with People’s Housing Projects, yet many residents fail to pay the low maintenance fees, despite having Astro and owning cars.

We have not yet addressed fraud and tax evasion, but now we must turn to one of the most insidious forms of dishonesty, second only to political corruption: scams. All our lives are being touched by scams. If you have not been a victim, and do not know anyone who has, it simply means your turn has not come.

In 2022, RM804 million was lost to scammers, and the figure surged to RM1.34 billion last year, according to the Communications and Digital Ministry. In 2023, a total of 33,235 scam cases were reported to the National Scam Response Centre. The government believes the actual
losses may be higher, as many cases were reported directly to the police.

Victims have fallen prey to telecommunication scams, financial fraud, love scams, e-commerce scams, fake loans and bogus investments. Many have lost their life savings. Complaints about investment scams shot up by over 300% between 2019 and 2023, the Securities Commission revealed last week. Nearly RM1 billion has been lost to investment scammers so far this year.

The notorious scam, long known as the “macao scam”, may be more accurately described as the “jail scam” because the tactic used is to frighten victims into believing they have committed a crime and will be detained in jail.

Last year’s victims included many people in their 40s, 50s and 60s, and one person in his 20s. Among them were teachers and lecturers, managers, analysts, doctors, farmers, engineers, pensioners and civil servants.

The standard tactic involves a junior scammer posing as an official from a government ministry, such as the tax department, courier company, shipping company, bank, post office, insurance company or similar. You are informed that your name has appeared in a suspicious document.

Once you express concern, two senior scammers will take over, pretending to be a police sergeant and an inspector. They claim that a crime has been committed in your name and a warrant for your arrest has been issued, with detention pending investigation. The “good guy” sergeant offers you a way out – the usual one, of course: transferring large sums of money to several bank accounts.

A tragedy occurred at the end of last year when a 95-year-old retired civil servant, who had been scammed out of RM18,000, became deeply distressed. His health rapidly deteriorated and he passed away.

The scammers are a multiethnic force of locals. We know this because they are able to speak any language that their victims are most comfortable with. Backing up the scammers are large networks of collaborators with jobs that grant them access to databases, and who sell personal details, including phone numbers. Around 73% of mobile phone numbers used by approximately 20 million people in Malaysia have been leaked or sold to scammers.

Another network of collaborators are bank account holders who rent or sell their accounts to scammers. These accounts then become mule accounts to which scam victims are asked to transfer their money. Three months ago, the federal Commercial Crime Investigation Department disclosed that it had identified over 208,000 mule accounts linked to online scams and commercial crime activities.

These two networks cannot exist unless those in higher positions let it happen. Negligence is a form of dishonesty because superior officers are paid to remain vigilant.

The underlying reason for the spread of dishonesty is the erosion of the nation’s cooperative spirit. Honesty and cooperation are closely intertwined; honesty fosters trust, which is essential for effective cooperation. Trust signals reliability, encouraging others to cooperate, knowing they are dealing with fellow citizens who value truthfulness.

In the formative years of civilisation, religion and politics were the twin foundational pillars of society. State religions developed public rituals to ensure that the honesty and cooperative behaviour that once bound members of small hunter-gatherer tribes together as one family would persist, despite the large, unrelated populations characteristic of urban societies.

However, these same rituals are conducted today as mere requirements for obtaining a passport to heaven in the afterlife. All our religions are now mired in ritualistic shows of loyalty to God and conformity to set practices.

Although there are nine prominent religions in Malaysia – Islam, Buddhism, Christianity, Hinduism, Sikhism, Taoism, Confucianism, Jainism and the Bahai Faith – they have failed to mould a united front to uphold cooperative behaviour.

Many religions have exploited the nation’s multifaith diversity to expand their membership in line with supremacist leanings, competing with other religions instead of bonding as one genre to provide high standards of honesty and cooperative behaviour for all citizens. Such rivalry undermines trust.

One common occurrence demonstrates this self-centredness. We are used to labelling the people of other religions as “unbelievers” or “non-believers” despite every citizen professing to uphold the first principle of the Rukunegara – Belief in God. They should be called friends.

By maintaining their traditional conservatism instead of forging a united front, our religions have created a moral vacuum that allows the web of dishonesty to spread over society. Abundant sociohistorical evidence points to the conclusion that without trust and cooperation, a nation will perish.

The writer champions interfaith harmony. Comments: letters@thesundaily.com

MANILA: Former Philippine President Rodrigo Duterte said the International Criminal Court (ICC) should ‘hurry up’ with its probe of his war on drugs, remaining firm in his defence of the brutal campaign as he said the investigation should start immediately.

“I’m asking the ICC to hurry up, and if possible, they can come here and start the investigation tomorrow,“ Duterte said in a congressional inquiry on his war on drugs.

“If I am found guilty, I will go to prison.”

According to police data, more than 6,200 people died in anti-drug operations under Duterte’s presidency, during which police typically said they had killed suspects in self-defence.

Human rights groups believe the real toll to be far greater, with thousands more users and small-time peddlers killed in mysterious circumstances by unknown assailants.

“I assume full responsibility for whatever happened in the actions taken by law enforcement agencies of this country to... stop the serious problem of drugs affecting our people,“ Duterte said.

The ICC last year cleared the way for an investigation to into the thousands of deaths and other suspected rights abuses.

The Philippines withdrew from the ICC in March 2019, when Duterte was president. Appeals judges at the ICC subsequently ruled prosecutors still had jurisdiction over the alleged crimes because they occurred when the Philippines was an ICC member.

KUALA LUMPUR: Former finance minister Tun Daim Zainuddin was laid to rest at the Bukit Kiara Muslim Cemetery 1 at 6.07 pm today.

The hearse carrying his remains arrived at the burial site at 5.16 pm.

Approximately 200 family members and friends were present for the burial, which took place under overcast skies following the rain.

Daim, 86, died at 8.21 am today while receiving treatment at Assunta Hospital in Petaling Jaya.

His remains were brought to his residence in Persiaran Bukit Tunku at 11.30 am, before being taken to the Federal Territory Mosque in Jalan Duta, where the funeral prayer was performed led by the mosque’s grand imam Jamal Abdul Halim.

Among the prominent figures who paid their last respects at Daim’s residence were former prime minister Tun Dr Mahathir Mohamad, Deputy Prime Minister Datuk Seri Fadillah Yusof, former Senate president Tan Sri Dr Rais Yatim, Opposition leader Datuk Seri Hamzah Zainudin and Muar Member of Parliament Syed Saddiq Syed Abdul Rahman.

Daim, whose full name is Che Abdul Daim Zainuddin, served as Finance Minister twice. His first term was from 1984 to 1991 under Dr Mahathir’s administration, where he played a key role in managing Malaysia’s economy and implementing structural adjustments.

He returned to the role of Finance Minister for a second term from 1999 to 2001, once again under Dr Mahathir, to tackle the economic challenges resulting from the Asian financial crisis.

Born on April 29, 1938, in Kedah, Daim served as a Member of Parliament for five terms between 1982 and 2004.

SUBANG JAYA: The Domestic Trade and Cost of Living Ministry (KPDN) will summon the Johor Indian Muslim Entrepreneurs Association tomorrow to seek clarification on its proposal to raise food prices by five per cent starting next year.

Minister Datuk Armizan Mohd Ali said KPDN had issued a notice to the association under Section 21 of the Price Control and Anti-Profiteering Act 2011, requiring an explanation for the proposed price increase.

“Since this association has only just made the announcement for next year, we are taking proactive steps to prevent anyone from taking advantage of the situation.

“This notice is to summon the association to provide an explanation for their announcement regarding the price increase,” he told reporters after the signing of a Memorandum of Understanding (MoU) on price data sharing between KPDN, Mydin, and Redtick here today.

According to media reports, about 300 mamak restaurant operators in Johor expressed concerns about rising operating costs, with the implementation of the minimum wage next year expected to further increase expenses.

As a result, Indian Muslim restaurant operators are expected to raise food prices by at least five per cent at their premises from next year.

Elaborating, Armizan cited an example from OPS Kesan 2.0, where the ministry had taken action against those attempting to take advantage of the implementation of targeted diesel subsidies and the sales and service tax (SST) hike.

“Some parties announced a price increase, but after being summoned and asked to explain, it was found that their reasons were unfounded.

“For instance, the construction sector claimed that the price increase was due to the implementation of the targeted diesel subsidies, even though it is not eligible to use subsidised diesel,” he said.

Armizan said, therefore, that KPDN had issued a notice and taken action under OPS Kesan 2.0 to ensure that price increases were only made based on relevant, actual costs.

KUALA LUMPUR: Building and infrastructure construction services provider TCS Group Holdings Bhd (TGB), as the main contractor via its wholly-owned subsidiary, TCS Construction Sdn Bhd (TCSB), for the J Satine mixed development project, has clarified the recent incident involving cracks in the building.

TGB managing director Datuk Ir Tee Chai Seng expressed concern about the incident and said the company is working closely with the developer and consultants to determine the root cause.

“Thankfully, there were no casualties as a result of the incident. We want to reiterate that health and safety have always been paramount in our projects.

“We want to assure all stakeholders that we have adhered strictly to all health and safety standards and protocols throughout the construction process,“ he said in a statement.

Tee said the group is cooperating fully with the relevant authorities to investigate the cause of the incident.

“Initial findings suggest that we do not cause the building cracks.

“For all our projects, we are committed to ensuring the safety and well-being of all involved and to deliver projects that meet the highest standards of quality and integrity,” Tee added.

He urged the cooperation from the public to stop sharing any unauthorised videos or images and speculating any unverified information related to this project development.

BATU KAWAN: US-based medical devices company Dexcom Inc has officially opened its manufacturing facility, also its first offshore manufacturing site outside the United States, in Batu Kawan, Penang.

Penang Chief Minister Chow Kon Yeow said the RM2.83 billion strategic investment will bring more than 3,000 jobs to the state, contributing to a workforce set to positively impact the lives of over three million people worldwide.

Dexcom, founded in 1999, is a global leader in continuous glucose Monitoring (CGM) technology for individuals living with diabetes.

“The establishment of this new facility highlights Dexcom’s continued commitment to take control of health through innovative CGM systems. It also reaffirms Penang’s reputation as a global hub for advanced technological industries, reinforcing its position as a preferred destination for high-quality manufacturing and innovation,” the chief minister said in his speech at the opening ceremony here today.

Chow said Penang is on the right path towards becoming the medical technology (medtech) hub of Southeast Asia by leveraging on the state’s over 50 years of industry excellence.

“Housing the largest number of medtech companies nationally and regionally, Penang remains a highly attractive location for its infrastructure availability and ecosystem that meet the needs of the medtech industry.

“For the past five years (2019-2023), Penang garnered a total of RM5.8 billion worth of investments in the scientific and measuring equipment sector, representing 45% of the nation’s total investments in this sector, involving 33 projects and generating an estimated 4,630 employment opportunities,” he said.

Dubbed the Silicon Valley of the East, Penang has the highest concentration of medical technology companies in Malaysia and Southeast Asia to date. – Bernama

KUALA LUMPUR: Bursa Malaysia Bhd is experiencing a resurgence in IPOs as 2024 draws to a close, reflecting renewed investor confidence in the local bourse.

With 44 initial public offerings to date, Bursa Malaysia has outpaced other markets in Southeast Asia, emerging as an attractive IPO destination amid a stable economic and political landscape.

According to Mohd Sedek Jantan, UOB Kay Hian Wealth Advisors’ head of investment research, several factors have contributed to this surge. “The risk of doing business in the fourth quarter has subsided as major economic and political uncertainties have passed, such as the US presidential election while Malaysia’s active role in international forums has bolstered the country’s global standing,” he told Bernama.

He reckons that Malaysia’s stable economic indicators, including positive trade figures, healthy employment rates and steady industrial production have fostered a predictable business environment that encourages IPO activity. “Political stability and a clear government policy framework further enhance investor confidence,” he said.

The surge in IPOs on Bursa Malaysia underscores the local bourse’s resilience compared to other regional markets.

Mohd Sedek noted that Malaysia has recorded 36 IPOs so far this year, raising about US$450 million in the first half alone, which accounts for 33% of Southeast Asia’s total IPO proceeds.

“This stands in contrast to a subdued IPO market across the Asia-Pacific, where proceeds have dropped by 63%, largely due to challenges in China and Hong Kong.

“Malaysia has outperformed both Indonesia and Singapore in IPO activity this year,” he pointed out, highlighting that Indonesia faces political uncertainty following its recent presidential election, while Singapore has seen a slowdown in activity due to high regulatory costs and weak investor demand.

In contrast, he said Malaysia’s IPO market benefits from a stable macroeconomic backdrop, business-friendly regulations, and the supportive Madani Economy Framework.

Mohd Sedek said the growth in IPOs reflects optimism in key Malaysian sectors, with recent listings from the construction, manufacturing, and healthcare industries.

He said in the construction sector, which expanded by 22.9% in the third quarter, private and public investments in residential, non-residential, and large-scale infrastructure projects are expected to drive further growth. “Key government initiatives, such as RM9 billion for private finance initiatives and RM25.5 billion from government-linked investment companies are expected to sustain this momentum,” he added.

In the manufacturing sector, Malaysia’s transformation under the New Industrial Master Plan 2030 aims to drive growth in high-value, technology-driven industries. “The government’s focus on digitalisation, green technology, and advanced manufacturing techniques is expected to attract further investments, solidifying Malaysia’s position as a competitive manufacturing hub in Asean,” he said.

Malaysia’s healthcare sector is also expanding due to demographic shifts and rising health awareness. The integration of technology, such as telemedicine and digital health solutions, is anticipated to boost the sector’s growth by improving care accessibility and efficiency. “This trend, coupled with government support for medical tourism, positions Malaysia as a key player in the healthcare industry in the region,” Mohd Sedek said.

Bursa Malaysia CEO Datuk Muhamad Umar Swift expressed satisfaction with the IPO momentum, noting that three Main Market IPOs were listed this week alone.

“This surge reflects a thriving capital market with strong regulatory support and a diverse investor pool. Malaysia has experienced a bull run, making us the Asean exchange with the highest number of IPOs to date this year,” he said.

Echoing this sentiment, the exchange regulator’s chairman Tan Sri Abdul Wahid Omar highlighted the significance of Monday’s listings, which took place on the auspicious date of 11.11. (Nov 11)

“Both companies chose that date for its auspicious nature, marking a rare occasion of two listings on the same day. The last time Bursa hosted two listings on a single day was in November 2017, following the demerger of Sime Darby Group, which saw both Sime Darby Plantation Bhd and Sime Darby Property Bhd debut together,” he said.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the strong IPO pipeline signals positive prospects for the Malaysian economy, as stable policies and a clear path towards becoming a high-income nation attract investor interest.

“Malaysia’s equities are undervalued, offering upside potential. The economic and policy stability enhances investor confidence, while companies’ growth trajectories inspire optimism for the market’s future,” he said.

Mohd Afzanizam said that as Bursa Malaysia continues to attract IPOs, he expects the exchange’s momentum to inspire small and medium enterprises to pursue similar growth opportunities. “The record-setting IPO activity underscores Malaysia’s resilience and strong capital market position in Asean, providing a positive outlook for 2025,” he added. – Bernama

KUALA LUMPUR: A group of planters and stakeholders in the East West One Group (EWOG) schemes urgently calls on Pacific Trustees Bhd (PTB) to release the funds necessary for the company’s approved rehabilitation and restructuring (R&R) exercise.

The majority of EWOG’s investors, represented by Thirunavukarasu Illamurugan, Yong Chin Koi, and Mahadevan Kathirgamathamby, are concerned that PTB’s continued withholding of these funds could further damage the company’s financial health, potentially leading to irreversible losses.

To recap, EWOG obtained planters’ approval of the company’s R&R exercise across all three schemes: East West One Planter’s Scheme (EWOP), East West Horizon Planter’s Scheme, and East-West Planter Scheme 1.

EWOG, in a statement, said the past few years have seen significant challenges that have severely impacted plantation operations, including the global Covid-19 pandemic, La Niña weather phenomena, industry-wide labour shortages, land disputes with landowners, and repeated injunctions that prevented timely convening of planters’ meetings from addressing these issues.

These cumulative challenges have compounded the company’s cash flow problems, resulting in an inability to meet payment obligations.

According to a statement by EWOG, despite the overwhelming support for the R&R plan from planters and stakeholders at the August 12 Planters’ Meeting, critical rehabilitation work on EWOG’s plantation assets remains stalled due to this delay.

For over a year, the plantation palms have relied solely on natural soil fertility, with no structured fertilisation or agronomic practices.

Prompt initiation of the R&R program is essential to restoring the plantation’s productivity.

This program leverages enhanced agronomic practices and inputs to increase fresh fruit bunch (FFB) production.

With crude palm oil (CPO) prices currently above RM4,000 per ton and projected to hold through 2025, the company has a unique window to capitalise on these favourable market conditions.

Proceeds from FFB sales could also partially offset ongoing rehabilitation costs, creating a sustainable pathway to recovery.

“Every day of delay further impacts our ability to restore the plantation and diminishes potential returns for all investors,” said Thirunavukarasu in the statement.

“These funds, specifically held in trust for the plantation’s rehabilitation, need to be released without further delay,“ he said in the statement.

According to a recent court filing by East West Horizon Plantation Bhd, the management continues to face challenges due to PTB’s reluctance to finalise necessary trust deeds despite ongoing efforts from EWOG’s management and legal team.

This impasse prevents the release of funds crucial for the R&R efforts, posing increased risks to the plantation assets and investor returns.

The investors’ representatives stressed that “a swift resolution is essential to launch the rehabilitation efforts and generate returns for all stakeholders.”

“It is time to move past the standstill and allow the EWOG group to implement the R&R plan for the benefit of all involved.”

THE tragic crash of a Tesla Model Y in Toronto in October has raised serious concerns about the accessibility and usability of the car’s electronic door handles during emergencies. The fiery accident claimed the lives of four individuals: Neelraj Gohil (25), his sister Ketaba Gohil (29), Jay Sisodiya, and Digvijay Patel, leaving a sole survivor, a woman in her 20s.

The woman’s escape was made possible by Rick Harper, a Canada Post employee, who heroically smashed the car’s window with a metal pole. Harper described the survivor as “desperate to get out,” but unable to open the car’s doors from inside. Tesla vehicles rely on an electronic button to open doors rather than traditional handles, and if the car’s power system fails in a crash, the doors may become inoperable.

Concerns About Tesla’s Safety Design

While Tesla promotes a “safety-first design” and manual override mechanisms for emergencies, these features are not widely known or intuitive. The manual override involves removing a door panel and pulling a hidden cable — a process that could be difficult or impossible in the chaos and panic of a serious accident.

Safety experts and crash investigators have raised concerns that victims may not be aware of the override feature or may lack the presence of mind to locate and use it under duress.

The Accident

The Tesla reportedly crashed into a guardrail at high speed along Lake Shore Boulevard East. The cause of the accident is still under investigation, but the crash’s aftermath has drawn attention to Tesla’s safety protocols, particularly in situations involving power failure. The National Highway Traffic Safety Administration (NHTSA) has several ongoing investigations into the Tesla Model Y, ranging from “unexpected brake activation” to “sudden unintended acceleration.”

A Heroic Rescue Effort

Harper’s quick action saved the survivor, but he was unaware that others were trapped inside due to the dense smoke. “I didn’t know there were other people in there. The smoke was so thick,” he said. It remains unclear if the other passengers also struggled to open the doors.

Broader Implications

This tragedy underscores the need for automakers to improve safety features in EVs, especially during power failures. Intuitive and easily accessible escape mechanisms are critical, and greater public awareness of emergency procedures is vital.

As investigators work to determine the exact cause of the crash, this incident highlights the balance that must be struck between advanced technology and real-world practicality in automotive safety.

The Bangko Sentral ng Pilipinas has launched an investigation into G-Xchange Inc., the operator of GCash, following numerous complaints from users reporting unauthorized deductions on their e-wallet accounts.

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Hey Geeks! We've all seen those sketchy emails and messages that scream ''SCAM.'' However, the latest phishing attack reported my https://www.kaspersky.com/blog/facebook-scam-24-hours-are-left-ro-request-review-see-why/51447/Kaspersky, targeting Facebook business account owners takes things to a new level. Here's the lowdown on what's happening and how to protect yourself. ...

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If you're going away for a while, you don't want your mail piling up. Here's how to submit a USPS mail hold request.

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Waiting in security lines at the airport has to be on the list of least enjoyable things about traveling in 2024. It’s right up there with traffic jams and canceled reservations. But it doesn’t have to be that way! Thanks to three very affordable programs, you could be skipping to the front of airport security […]

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The best online banks charge you fewer fees and pay you more interest. If you don’t mind doing your banking digitally rather than in person, they’re an excellent option. In this article, I’ll explain the factors you should consider when comparing online banks. I’ll also list some of the online banks I recommend and tell […]

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