CORP BRIEF: MARGMA, BIMB and MAH SING

MARGMA reminds importers against frauds

THE Malaysian Rubber Glove Manufacturers Association (MARGMA) president Dr Supramaniam Shanmugam reminded worldwide buyers to be vigilant of scammers while sourcing for rubber gloves. In a statement yesterday, he said he emphasised that the global shortage of rubber gloves will last beyond the first quarter of 2022 and the current order lead time to be at least six to eight months. As such, any company that claims to have ready stock for new buyers are possibly scammers looking for victims and desperate buyers looking to get quick and immediate deliveries and/or shipments. MARGMA had issued several warnings about scammers and con-artists intermittently since June 2020. Despite the efforts, many desperate and unsuspecting buyers had since been conned of millions of US dollars through various online transactions without receiving any gloves or end up receiving defective gloves.

BIMB sukuk fund records 6% income distribution

BIMB Investment Management Bhd, a wholly-owned subsidiary of Bank Islam Malaysia Bhd, has declared income distribution yields of no less than 6% for BIMB ESG Sukuk Fund for the financial year ended Oct 31, 2020. In a statement yesterday BIMB said the yields exceeded its benchmark target of 5%. It said the ringgit-de- nominated Class A units have an income distribution yield of 6.01%, while the yield for the US dollar-denominated Class B unit was at 6%, the Singapore dollar-denominated Class C units at 6.02%, the ringgit-de- nominated Class D units at 6.01% and the US dollar-denominated Class E units at 6%. This represents an improvement over last year’s income distribution yield of 4.12% for the ringgit-denominated class, 4.04% for the Singapore dollar-denominated class and 4.08% for the US dollar-denominated class.

Mah Sing posts 90% take-up for Phase 2A of Carya @ M Aruna

MAH Sing Group Bhd registered a 90% take-up rate for its official property launch for its Phase 2A Carya @ M Aruna in Rawang, Selangor, that features 106 units. Following the positive response, Phase 2B of Carya is now open for sales, with 86 units up for grabs, the company said in a statement yesterday. The higher take-up rate was attributed to strong demand and unique value propositions, as the township features various facilities within a rich green living environment. This project is Mah Sing’s third township in Rawang after M Residence 1 and M Residence 2.