NEWS IN BRIEF: MARCH 2, 2021

SOCIAL ENTERPRISES are now able to get quicker and wider access to financing, especially in helping them to mitigate the current challenges brought on by the COVID-19 pandemic with the emergence of digital financing platforms such as peer-to-peer (P2P) financing.

In a statement today, Funding Societies Malaysia co-founder and chief executive officer Wong Kah Meng said social enterprises often play a unique role in driving more equitable economic well-being given their focus.

"Whilst they help build a more diverse and equitable economy through tackling socio-economic issues, they remain financially underserved.

"As a digitally-driven financing platform, we are better placed to serve the diverse range of micro, small and medium enterprises (MSMEs) by leveraging on our lower operating cost structure, and hence able to serve creditworthy MSMEs which may not be profitable for banks to serve," he said. 

-- BERNAMA

Bursa Malaysia Bhd (BMB) announced that Amalgamated Industrial Steel Bhd has changed the company's name to Parkwood Holdings Bhd. 

Subsequently, its stock short name will be changed from "AISB" to "PARKWD".

In a statement today, BMB said the company’s shares will be traded and quoted under the new name with effect from 9.00 am, Wednesday, March 3, 2021.

The company’s stock code will remain unchanged.

-- BERNAMA

KAPERSKY said it is time to embrace secure-by-design operating systems while at the same time enforcing high-level international cooperation in order to build a safer world and boost cyber security capabilities from the current crisis and beyond.

In a statement today, the global cyber security company said attacks on critical infrastructure, such as healthcare institutions, power grids and water systems, have crossed over from the fictional realm to the physical world.

"Our analysts’ research-based data shows us the core of the problem – we have reached a point where defending cyberspace is crucial to a country’s economy and its population’s safety.

"And today, our researchers are also closely monitoring more than 200 cybercrime gangs responsible for launching hyper-targeted attacks against banks, governments, or nations’ critical infrastructure,” it said.

-- BERNAMA

CB INDUSTRIAL PRODUCT HOLDING BHD's (CBIPH) wholly-owned subsidiary, PalmitEco Engineering Sdn Bhd (PESB), has implemented a temporary stoppage for 14 days at its manufacturing facility in Telok Panglima Garang, Selangor from Feb 26 to March 11, 2021.

In a filing with Bursa Malaysia today, CBIPH said this was done under the guidance of the Ministry of Health as the subsidiary had detected 45 positive cases of COVID-19, involving both local and foreign workers, following screening tests conducted for all its employees.

CBIPH said the affected manufacturing facility had been temporarily closed to carry out disinfection and sanitisation procedures.

"The temporary stoppage is not expected to have a significant impact on the revenue and earnings of CBIPH Group for the financial year ending Dec 31, 2021," it added.

-- BERNAMA