Top Glove Gives Special Dividend Of 20%

As predicted. Top Glove Corporation Bhd, which has recorded supernormal profits due to demand surge caused by the Covid-19 pandemic, announced on Monday it has committed to a special dividend of 20%.

In their press statement on Monday, the world’s largest glove maker said the special dividend was in addition to its existing dividend policy of a 50% dividend payout ratio on its profit after tax and minority interests for the second, third and fourth quarters of financial year 2021.

At 3.47pm, it was trading at RM5.65, down 47 sen with nearly 320 million shares done.

It hit an early low of RM5.23.

The FBM KLCI was down 18.90 points or 1.16% to 1,608.32. Turnover was 6.04 billion shares valued at RM4.85bil.

Malaysia Digital Bank License

With Hong Kong and Singapore having accelerated the issuance of their digital banks licenses, is Malaysia’s foray into the space a bit slow?

Based on this week’s announcement by Bank Negara, digital bank licenses will be issued only by the first quarter of 2022. The concern is would the Malaysian digital bank landscape have lost ground by then? Globally, digital banks are already in advance stages of operations.

To be sure, setting the rules right on the onset for digital banking is of utmost importance. It involves the main artery of the economy, namely the banking system. Perhaps this is why Malaysia’s central bank is not rushing the matter.

On Thursday, Bank Negara issued a policy document on licensing framework for digital banks following a six-month public consultation.

Bank Negara said the licensing framework for digital banks aims to enable the innovative application of technology to uplift the financial well-being of individuals and businesses and foster sustainable growth.

This includes expanding meaningful access to and promoting responsible usage of suitable financial solutions to the unserved and underserved segments.

The framework adopts a balanced approach to enable admission of digital banks with strong value propositions while safeguarding the integrity and stability of the financial system, as well as depositors’ interests.

To achieve these outcomes, a simplified regulatory framework will be applied to digital banks during the initial stage of operations, commensurate with an asset threshold of not more than RM3bil for three to five years.

Submission of applications to conduct digital banking business or Islamic digital banking business shall be made to the Bank no later than June 30,2021.

Up to five licenses may be issued to qualified applicants. Notification on the grant of license will be made by the first quarter of 2022, Bank Negara said.

It does seem that the central bank is on the right track with ensuring only the most qualified applicants get to run digital banks.

That said, one wonders how the digital banking space will grow globally and whether Malaysian licenses could have lost any ground by 2022.

Stalkerware? Do You Experience It?

Your smartphone, your PC, your laptop – most of the devices we use are to some degree vulnerable to so-called stalkerware, software installed without your knowledge and aimed at obtaining sensitive data, like personal photos or login details. 

In a nutshell, stalkerware “can result in the theft of data, monitoring of emails, SMS and MMS messages sent and received and even intercept your phone calls for the purposes of eavesdropping”, the Coalition against Stalkerware says.

The platform, a joint initiatve by aid organisations and IT security companies, aims to combat stalking, harassment and domestic violence by addressing the issue of stalkerware.

“Stalkerware services imply that their customers personally know victims, because these commercial spyware apps are manually installed. Users have to download the app, install it and enter credentials that are received after purchasing,” the Coalition explains further.

Anyone who loses their smartphone for a short period of time or has lent it to someone else for a longer time should therefore check it for changed or unknown settings, the initiative recommends.

On Android devices, for example, the setting “Unknown Sources” in the security menu is deactivated by default. If it’s suddenly activated, however, it could have been manipulated.

An unexpected discharge of the battery can also be a sign of stalkerware. Other indications are unknown apps or processes and webcam permissions that have not been granted by the device owner.

Even active sessions for which you have not logged in can indicate installed stalkerware.

Stalkerware is used for hidden digital surveillance, among other things. Removing it is not easy, but not impossible either. The Coalition against Stalkerware offers advise on how to do so on its website.

However, if you delete it, the respective offender is also warned. Victims of cyberstalking should therefore prepare a security plan and get expert help, for example from organisations that support victims of domestic violence.