PETALING JAYA, 5 August 2020 – WCT Holdings Berhad (“WCT” or “the Group”) a leading engineering and construction as well as property company aims to focus on prudent financial management and leveraging on the prospects of its three core business divisions, namely Engineering and Construction, Property Development and Property Investment & Management to drive growth. 

Following the Group’s Ninth Annual General Meeting (“AGM”) today Dato’ Lee Tuck Fook, Group Managing Director of WCT said, “All resolutions tabled at the AGM today were duly approved by our shareholders. This includes the proposed final share dividend via a distribution of treasury shares on the basis of one treasury share for every one hundred existing ordinary shares held in the company.” 

Kuala Lumpur, 5 August 2020: The Malaysia Digital Economy Corporation (MDEC) is reinvigorating the nation’s push towards a digital-first future with the upcoming launch of its inaugural SME Digital Summit. This exciting virtual platform will empower small- and medium- sized enterprises (SMEs) to take the digital leap by cultivating a digital transformation mindset among these businesses and enabling them to accelerate their digitalisation journey. As is, SMEs are the backbone of Malaysia’s economy and their digitalisation is forecasted to add US$19 billion to US$24 billion to the country's GDP by 20241. 

Running from 11-13 August 2020, the Summit expects to host up to 100,000 participants who will join various digital panel discussions, conferences, workshops, and training clinics that are organised in collaboration with the event’s 60 partners. Various multinational companies and local enterprises will be joining the Summit, including MAXIS, Digi, Amazon Web Services and DELL Technologies. There will be a total of 12 panel sessions, featuring discussions on 10 areas of digitalisation and how they can be applied across 10 key business sectors, will be conducted throughout the event period. 

Kuala Lumpur, 4 August 2020 – Tune Protect Group Berhad (“Company”) is accelerating its diversification plan across products, partners and channels, and will be focusing on more lifestyle and on-demand solutions that address the new needs of consumers in the wake of the COVID-19 pandemic. The Company will also be seeking additional partnerships in ASEAN, particularly in Vietnam and Indonesia, as well as the Middle East to ease the impact of the pandemic on the general insurance and reinsurance business. The Company’s overall revenue has been affected, especially in the travel protection business with the closure of international borders and airlines temporarily hibernating their fleet. 

The movement control order (MCO), implemented on March 18 to control the Covid-19 pandemic resulted in an economic slowdown that affected many areas of the national economy. As automotive companies restarted operations under the Conditional Movement Control Order (CMCO), Proton took its first step down the road to recovery in May.

A research conducted on social media during the MCO period (April – May 2020) by market insight solutions provider Vodus, regarding ‘intention to buy’ a new car among current Malaysian car owners with a budget of RM200k and below within the next 3 months found that despite the industry experiencing a contraction of 51% in sector earnings, 38% of the intended buyers had a national car brand in mind.