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Several cash trusts said to be Ponzi schemes Posted by: superadmin - 05-24-2022, 09:21 AM - Forum: Business. Economy and Investment - No Replies KUALA LUMPUR (May 24): The Association of Trust Companies Malaysia, together with Life Insurance Association of Malaysia, Malaysian Financial Planning Council and the Financial Planning Association of Malaysia, among others, will be bringing their grouses about certain cash trusts to DAP National Public Complaints Bureau chairman and member of parliament for Kepong, Lim Lip Eng, on Wednesday (May 25). Their key gripes are centred on extremely high returns promised by these trusts and other outfits with similar modus operandi, which they suspect could be a Ponzi scheme. Some of these companies are said to offer returns of as high as 36% per annum. In contrast, the fixed deposit rate of Malaysia's largest bank by market capitalisation, Malayan Banking Bhd (Maybank), is 2.1% for a 12-month tenure, and 2.35% for five years. And in FY2021, Maybank paid out a whopping 58 sen per share in dividends, which, while considered very high, translates to a yield of 7%.    To the uninitiated, a Ponzi scheme — named after Charles Ponzi who operated such a fraudulent system in the 1920’s — is an investment where depositors are promised a very high rate of returns, with seemingly low or zero risks. - More -   Biden says U.S. willing to use force to defend Taiwan — prompting backlash from China Posted by: superadmin - 05-24-2022, 09:10 AM - Forum: Politics - No Replies When asked at a joint news conference with Japanese Prime Minister Fumio Kishida whether the U.S. would be prepared to defend Taiwan if attacked, Biden replied, “Yes.” Taiwan’s Foreign Ministry thanked Biden for reaffirming U.S. support if Beijing invaded the island. However, China’s Foreign Ministry said the U.S. should not defend Taiwan independence, Reuters reported. U.S. President Joe Biden on Monday said he would be willing to use force to defend Taiwan, prompting thanks from the democratic, self-ruled island — but sharp criticism from China. When asked at a joint news conference with Japanese Prime Minister Fumio Kishida whether the U.S. would be prepared to defend Taiwan if attacked, Biden replied, “Yes.” “That’s the commitment we made,” Biden said. “We agree with the ‘one China’ policy. We signed on to it. All the attendant agreements [were] made from there. But the idea that that can be taken by force, just taken by force. It’s just not, it’s just not appropriate.” On his first trip to Japan since taking office, Biden said it was not his expectation that such an event would happen or be attempted. Taiwan’s Foreign Ministry thanked Biden for reaffirming U.S. support for the island if Beijing invaded. - More -   Make or break decisions for Bersatu Posted by: superadmin - 05-24-2022, 08:45 AM - Forum: Politics - Replies (1) A political party now sharing power with Umno in the government faces potential banishment to the cross-benches, being sidelined by both government and the opposition. Bersatu is an embattled party. Its future depends upon cooperation with either Umno or Pakatan Harapan to survive the coming general election. Alone, Bersatu will struggle to survive. The prime reason Bersatu became a political party was because of then deputy prime minister Muhyiddin Yassin’s sacking by former prime minister Najib Razak over his criticism of Najib and the 1MDB issue. Muhyiddin was soon joined by Dr Mahathir Mohamad and his son, Mukhriz, after expulsion from Umno. With support from DAP, PKR and Amanah under the umbrella of PH, the grouping defeated Najib and the Barisan Nasional at the 2018 general election. During the election campaign, Mahathir hammered the 1MDB issue and Najib’s corruption across the Malay heartlands and Bersatu managed to win 13 of the 50 seats it contested. Bersatu was able to grow its parliamentary numbers through party defections, increasing to 32 federal MPs, primarily from Umno, along with the ex-PKR Azmin Ali group. - More -   Court dismisses Apandi’s defamation suit against Kit Siang Posted by: superadmin - 05-23-2022, 07:09 PM - Forum: Politics - No Replies KUALA LUMPUR: The High Court has dismissed former attorney-general Apandi Ali’s defamation suit against Lim Kit Siang over an article published by the DAP veteran in 2019. Judge Azimah Omar found that Lim’s remarks in the article titled “Dangerous fallacy to think Malaysia is on the road to integrity” were not defamatory. - More -   What will bring the Ukraine war to an end? Posted by: superadmin - 05-23-2022, 11:12 AM - Forum: Politics - No Replies   Open up land for grain cultivation, DAP tells govt Posted by: superadmin - 05-23-2022, 10:16 AM - Forum: Business. Economy and Investment - No Replies PETALING JAYA: DAP has called on the government to set aside land for a nationwide grain cultivation programme to ensure sufficient supply of chicken feed. Malaysia is heavily dependent on imports such as wheat and corn which are used for chicken feed, with the war between Russia and Ukraine – which make up a third of global wheat production and are also major exporters of food grains like corn – severely impacting imports. - More -   Australia ousts conservatives after nine years, Prime Minister Morrison concedes Posted by: superadmin - 05-23-2022, 09:23 AM - Forum: Politics - Replies (4) Prime Minister Scott Morrison conceded defeat after an election on Saturday and the opposition Labor Party was set to end almost a decade of conservative rule. In at least five affluent Liberal-held seats, so-called “teal independents” looked set to win, tapping voter anger over inaction on climate change after some of the worst floods and fires hit Australia. Australian Prime Minister Scott Morrison conceded defeat in an election on Saturday and the opposition Labor Party was set to end almost a decade of conservative rule, possibly with the support of independents who campaigned for greener policies. Partial results showed that while Labor had made small gains, Morrison’s Liberal-National coalition had been punished by voters in Western Australia and affluent urban seats in particular. The Greens and a group of so-called “teal independents”, who campaigned on policies of integrity, gender equality and tackling climate change, put on a strong showing, tapping voter anger over inaction on climate change after some of the worst floods and fires to hit Australia. - More -   HIGHLIGHTS: Liverpool 3-1 Wolves Posted by: superadmin - 05-23-2022, 08:47 AM - Forum: Football - No Replies   EPL Highlights: Manchester City 3 - 2 Aston Villa Posted by: superadmin - 05-23-2022, 08:41 AM - Forum: Football - No Replies   Zii Jia wins dramatic victory in Thailand Open Posted by: superadmin - 05-22-2022, 07:33 PM - Forum: Badminton - No Replies Pages (1325): « Previous 1 … 821 822 823 824 825 … 1325 Next » Jump to page: