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  Jack Ma’s Ant Group gets nod to operate consumer finance firm
Posted by: superadmin - 06-03-2021, 09:17 PM - Forum: Business, Economy and Investment - No Replies

Jack Ma’s Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues

  • China has approved Ant Group to operate a consumer finance company.
  • Ant will hold a 50% stake in the new entity.

  • The creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.

[Image: 106790349-16050290612020-10-29t144122z_1...=740&h=416]
GUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the breaks on its record-breaking listing.

Ant will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.

Another six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.

The business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant’s credit businesses Huabei and Jiebei. These are critical for the company and previously big drivers of revenue.

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  The beginning of a New Era - Harmony OS
Posted by: superadmin - 06-03-2021, 08:51 PM - Forum: Hand Phones, Tablets and OS - No Replies

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  Ex-Petronas boss ousted from ExxonMobil board – after 3 months
Posted by: superadmin - 06-03-2021, 05:31 PM - Forum: Business. Economy and Investment - No Replies

[Image: wan-zulkiflee-wan-ariffin.jpg]

PETALING JAYA: Wan Zulkiflee Wan Ariffin, the former chief executive officer of national oil company Petronas, will be removed from ExxonMobil’s board after being rejected by voters.

The ouster comes just three months after his appointment in February this year, which made him the first non-American member of the board.
According to industry newsletter Energy Voice, Wan Zulkiflee’s exit came after ExxonMobil activist investor Engine No. 1 expanded its presence on the US oil giant’s board to three seats, according to preliminary vote tallies.

Meanwhile, a source with knowledge on the matter said Wan Zulkiflee was among three directors who were considered as not being a right fit for the board.


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  Have a heart, says MP over fines for delivery riders
Posted by: superadmin - 06-03-2021, 05:23 PM - Forum: Covid-19 Pandemic - No Replies

[Image: FOODPANDA_GRABFOOD_RIDER_BUKIT_BINTANG_F...2020-4.jpg]

PETALING JAYA: Enforcement authorities must exercise discretion and be compassionate when issuing compounds to e-hailing workers, Segambut MP Hannah Yeoh said.

In a statement today, she said six e-hailing delivery riders had complained that they were compounded at two different locations while eating at an open field by the side of the road.

She said their compounds stated that they had to go to the district health office to pay the amount.

“I appeal to enforcement officers to exercise discretion, and understand the reality out there. Their (delivery riders’) income is not enough to pay compounds,” she said.


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  Why Do Vaccinated Folks Still Get COVID-19?
Posted by: superadmin - 06-03-2021, 05:09 PM - Forum: Covid-19 Pandemic - No Replies

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  Glamping Business
Posted by: onikka - 06-03-2021, 02:50 PM - Forum: General Discussion - Replies (14)

Hi everyone, my partner and I have been brainstorming ideas for a business as we have some money to invest and want to use it to go self employed.
Today we discussed setting up a glamping business, as we have potentially got some land we could use in the countryside.
We’re thinking wooden huts with beds, electricity supply for kettle, heater. Water supply and maybe hot tubs.

The question is, how much would we be looking at spending on getting the water and electricity supply set up?
And would we need to build a toilet block for guests too, or would it be cheaper to install toilets into the huts?

It’s a very vague idea at the moment and we have a lot of research to do, but thought we’d ask here to see if anyone had any experience with this kind of business.

Thank you

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  Biden to amend Trump's China blacklist, targeting key industries
Posted by: superadmin - 06-03-2021, 02:17 PM - Forum: Politics - No Replies

[Image: nz_usch_030625.jpg?itok=vH2yQnc7&timestamp=1622672798]

WASHINGTON (BLOOMBERG) - US President Joe Biden plans to amend a ban on investments in companies linked to China's military this week, after the Trump-era policy was challenged in court and left investors confused about the extent of its reach to subsidiary firms, people familiar with the matter said.

Under Mr Biden's amended order, the Treasury Department will create a list of companies that could face financial penalties for their connection to China's defence and surveillance technology sectors, the people said. Until now, the financial sanctions and selection of targeted companies were tied to a congressionally-mandated Defence Department report.

The amended order, which Mr Biden is expected to sign later this week, will change the criteria for blacklisting entities to capture those that operate in the defence or surveillance technology sectors. The Trump order targeted companies owned, controlled or otherwise affiliated with the Chinese military.


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  American democracy is about to show if it can save itself
Posted by: superadmin - 06-03-2021, 02:12 PM - Forum: Politics - No Replies

(CNN)American democracy -- under a relentless, multi-front assault from pro-Donald Trump Republicans -- is about to show whether it is strong enough to save itself.

Such a premise would have been considered absurd through much of history. But since Trump left office after destroying the tradition of peaceful transfers of power in a failed attempt to steal the 2020 election, it has become clear that his insurrectionism was only the first battle in a longer political war as his allies tout ridiculous fantasies about returning him to power to applause and online acclaim.

The mechanisms of American institutions that barely survived Trump's attempt to illegally stay in power are still being manipulated by Republicans to make the country less democratic. The GOP's efforts to stack the electoral decks are staggeringly broad. From Georgia to Arizona and Florida and in many other states, Republicans are mobilizing behind efforts to shorten voting hours, crack down on early and mail-in balloting and to throw out legitimate ballots -- all under a banner of election security.


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  It’s a crisis! Where’s the efficiency?
Posted by: superadmin - 06-03-2021, 01:26 PM - Forum: Politics - No Replies

[Image: shankar-r-santhiram-columnist-new-170321-1.jpg]
Finally, after much pressure from the medical fraternity and the experts, the government relented and imposed a full lockdown a few days ago for Malaysia.

We all let out a collective sigh of relief in the hope that within the next two to four weeks, we will get the infection rates in the country down to manageable levels.

By the looks of it, most people are doing their part and making sure the standard operating procedures are being followed. And the small number of miscreants who flaunt these rules should have the proverbial book thrown at them.

This is one side of the coin.


On the flip side, the sectors that are deemed essential services can proceed with caution, safety and with the correct approvals. And most business owners and entrepreneurs get this.

They want to do their part, and are ready to adhere to the current policies that have been developed to juxtapose public safety while keeping essential services alive.

But for all of us to survive, there seems to be a vital ingredient that is sorely missing: efficiency.

Here’s an example.


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  Unity government not such a good idea, says analyst
Posted by: superadmin - 06-03-2021, 01:20 PM - Forum: Politics - No Replies

[Image: DR-M-Mahathir-Anwar-Ibrahim-PKR-190719-1-fmt-1.jpg]

PETALING JAYA: An analyst disagrees with academics who apparently think that a unity government is best for Malaysians when the state of emergency ends.

A stable government would be better, said Oh Ei Sun of the Singapore Institute of International Affairs.

Oh said the Perikatan Nasional (PN) government had clearly lost its parliamentary majority and was hanging on to power only through the emergency.

He said Malaysia needed a new government led by a prime minister commanding a strong majority in the Dewan Rakyat and installed without going through an election. “Only the King can effect such a move,” he said.


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