Boost launched a new food ordering platform ~ "Boost Makan"

Foodpanda, GrabFood, ShopeeFood, airasia food, EASI (Hungry), DelieverEat, LOLOL, BeepDelivery... Not enough lah. So, we have a new kid on the block (in this food ordering/delivery space), and many of us already have this app on our smartphones 😱

Ladies & gentlemen,
Let's welcome this new food ordering platform called Boost Makan , by Boost, to help its F&B merchants bring their businesses online without the hassle of complicated backend systems and expensive fees. Existing Boost merchants can easily access Boost Makan directly within the Boost Biz merchant app and sign up for the food ordering platform with NO onboarding fees imposed for a limited time.

Boost Makan is open to all F&B merchants who want to shift their business online using a platform they are already familiar with. This includes cafes, restaurants, home businesses, hawkers, food court stalls, and even food trucks.

What are the benefits for Merchants?

What happened to Thanksgiving Day? The truly Black Friday of Global Markets?

Welcome back. OMG! 😱 Markets are continuing their volatility albeit at the downside on "Black Friday" this year. A sea of red was seen hitting the shore of global equities and other risky assets.

Here is some of the global economic info that all investors should be aware of before the next trading week:

Bursa Malaysia commences LEGAL ACTION against Serba Dinamik (23 November 2021)

Bursa Securities had today filed an Originating Summons in the High Court at Kuala Lumpur against Serba Dinamik under Sections 360(1)(c)(i) and/or (ii) (J) and/or (K) and/or (M), 360(1)(4) and 360(13)(b) of the Capital Markets and Services Act 2007 to order Serba Dinamik to make an immediate public announcement of the Factual Findings Update on the Special Independent Review as at 30 September 2021.

The court application arises from Serba Dinamik’s failure to comply with Bursa Securities’ directive dated 22 October 2021. Bursa Securities’ directive was issued requiring Serba Dinamik to disclose the material findings of the Factual Findings Update as at 30 September 2021, made by Ernst & Young Consulting, who was appointed by Serba Dinamik to carry out an independent review to assess the veracity and accuracy of the matters highlighted by Serba Dinamik’s then statutory auditor, KPMG.

More details here...

Bursa Malaysia's responds to Serba Dinamik legal action (8 November 2021)

Established in 1993, Serba Dinamik, through its subsidiaries, is an international energy services group providing integrated engineering solutions to the Oil & Gas, petrochemical, power generation industries, water & wastewater and utilities.

The company was once the darling of research houses until the audit saga which was started in mid-May 2021. Subsequently, Serba Dinamik decided to take legal action against KPMG, alleging that the external auditor had been negligent and breached its contractual and statutory duties to the company.

And, now, Serba Dinamik is taking legal action against Bursa Malaysia to challenge the stock exchange's directives concerning the requirement to conduct a special independent review and to disclose the findings of the review, arguing that the stock exchange is acting “in excess of power”.

Below is the statement from Bursa Malaysia which was received by Finance Malaysia today 9pm:

Secured vs Unsecured Business Loans

Funding your business is one of the first – and arguably most important financial steps most business owners have to make. How you choose to fund your business, for example, what type of loan to pursue could affect how you run and structure your business.

Which type of lending is right for your business?

Let’s find out.

In this article, we will take a look at secured vs. unsecured loans, the differences between these two types of loans and which one would best suit your business needs.

What is a Secured Loan?

Hartalega's Latest Result and What's Next? (November 2021)

In an exchange filing today, Hartalega Holdings Bhd's net profit surged 67.7% to RM914.01 million in Q2 FY2022 from a year ago.

More details below:

Q2 FY2022 vs Q2 FY2021 (Year-on-year comparison)

For the current quarter ended 30 September 2021 (Q2FY22), the Group achieved higher sales revenue of RM 2.01 billion, an increase of RM 665.3 million or 49.4% from the corresponding quarter in the preceding year (Q2FY21). The higher sales revenue was mainly due to the increase in average selling price (ASP).

Profit before tax has increased by RM 504.4 million or 73.9% to RM 1.18 billion, as compared to RM 683.0 million in Q2FY21. The increase in profit before tax was mainly due to the higher sales revenue which was partially offset by the higher raw material cost.

"Okay lah. I know you all don't want to see y-o-y anymore geh. What about q-o-q basis? Right? Here you go below loh..." blogger of Finance Malaysia ☺

Q2 FY2022 vs Q1 FY2022 (Quarter-on-quarter comparison)

AirAsia X slips into PN17 status. And, who are also inside the list currently?

After avoiding it for more than one year due to the relief measures provided by Bursa Securities on listed issuers that have triggered the criteria for the classification which was ended on June 30, 2021, AirAsia X (AAX) was classified as a PN17 company now.

The PN17 status was being triggered as AAX’s external auditors, Messrs Ernst & Young PLT, have expressed a disclaimer of opinion in the Company’s audited financial statements for the 18-month financial period ended 30 June 2021 announced on 29 October 2021.

In a statement issued by Bursa Securities today, the exchange would like to emphasize that it will continue to monitor the progress of AAX in respect of its compliance with the Main Market Listing Requirements.

What should AAX do now?