Category: General

Samsung Electronics Co. on Tuesday estimated its third-quarter operating profit nearly tripled, but missed market expectations due to the lukewarm performance of its high-end memory chips used in artificial intelligence computing. The world's biggest maker of memory chips expected an operating profit of 9.1 trillion won (US$6.8 billion) for the third quarter, up 274.5 percent from a year earlier, Samsung Electronics said in a regulatory filing. But operating profit retreated 12.8 percent from three months earlier. Revenue increased 17.2 percent to a record 79 trillion won for the July-September period. The company did not disclose the data for net earnings in the guidance. The operating profit was 11.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Experts forecast that Samsung Electronics' lower-than-expected earnings report is attributable to sluggish shipment of memory chips due to contracting sales of smartphones and p ersonal computers. The company's slower performance in high-bandwidth memory business also weighed heavily on the third-quarter report. Source: Yonhap News Agency

U.S. Secretary of State Antony Blinken will attend annual gatherings involving the Association of Southeast Asian Nations (ASEAN) in Laos this week, a senior U.S. diplomat said Tuesday, reaffirming the Biden administration's "crystal clear" and "unmistakable" commitment to the Indo-Pacific region. Blinken plans to visit Vientiane from Tuesday to Friday to join the East Asia Summit and the U.S.-ASEAN Summit, where he is to discuss U.S.-ASEAN relations as well as geopolitical issues concerning the South China Sea, Russia's war in Ukraine and the ongoing crisis in Myanmar, according to Daniel Kritenbrink, the assistant secretary of state for East Asian and Pacific affairs. Kritenbrink underscored that while President Joe Biden will not attend those summits, there should be "absolutely no doubt" about his administration's commitment to the region. "I think the strength of America's commitment to ASEAN and to Southeast Asia and the broader Indo-Pacific region, and the president's personal commitment to the imp ortance of the region ... those are both crystal clear and unmistakable," Kritenbrink said. The diplomat noted that during ASEAN gatherings, China-related issues are likely to come up, including China's "escalatory and irresponsible steps designed to coerce and pressure many of South China Sea claimants." However, he did not mention whether Blinken plans to discuss North Korea-related issues during the ASEAN gatherings. After his visit to Laos, Blinken plans to travel to Germany and Angola from Friday to Oct. 15 to join Biden for his engagements with foreign leaders, according to the State Department. Source: Yonhap News Agency

From next year onwards, high school examination will be organised in August as in the period before the COVID-19 crisis, announced H.E. Dr. Hang Chuon Naron, Deputy Prime Minister, Minister of Education, Youth and Sports, at a press conference after the official opening of examination sessions at Preah Sisowath High School in Phnom Penh this morning. The rationale behind the change is that Grade 12 graduates who aim to pursue their university studies overseas are able to submit their applications at any interested universities which generally commence their academic year in September, plus avoiding flash flood during rainy season, explained H.E. Dr. Hang Chuon Naron. According to H.E. Hang Chuon Naron, among some 137,040 registered Grade 12 students this year, 30 percent (nearly 40,000 students) have taken science category whereas the rest 70 percent (almost 100,000 students) have chosen social science category, adding that mathematics subject in the latter has lower standard than the former. Despite that , he continued, Cambodia needed young generations with both science and social science subjects to meet the needs of current economy and be ready for training in the science area. The education minister also took the opportunity to thank local competent authorities for their facilitations in flood-affected areas like Russey Keo High School for example. The results of the high school exam for the 2023-2024 academic year are expected to be released on Oct. 30 for Phnom Penh capital and Kandal province, and on Oct. 31 for the other provinces. Last year, some 72.98 percent, or 98,460 out of 137,412 high school students who have registered for the upper secondary exams, obtained their baccalaureate. Among the successful grade 12 graduates, 1,673 got grade A; 6,964 grade B; 18,303 grade C; 34,246 grade D; and 37,269 grade E. Source: Agence Kampuchea Presse

Samsung Electronics Co. on Tuesday estimated its third-quarter operating profit nearly tripled, but missed market expectations due to the lukewarm performance of its high-end memory chips used in artificial intelligence computing. The world's biggest maker of memory chips expected an operating profit of 9.1 trillion won (US$6.8 billion) for the third quarter, up 274.5 percent from a year earlier, Samsung Electronics said in a regulatory filing. But operating profit retreated 12.8 percent from three months earlier. Revenue increased 17.2 percent to a record 79 trillion won for the July-September period. The company did not disclose the data for net earnings in the guidance. The operating profit was 11.7 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Experts forecast that Samsung Electronics' lower-than-expected earnings report is attributable to sluggish shipment of memory chips due to contracting sales of smartphones and p ersonal computers. The company's slower performance in high-bandwidth memory business also weighed heavily on the third-quarter report. Samsung Electronics did not disclose a detailed earnings report of its business divisions, but the market forecast that the company's semiconductor business earned around 5.3 trillion won in operating profit for the third quarter. The company will release its final earnings report later this month. Source: Yonhap News Agency

Powered by a pair of homers and a dominant relief outing from a young hurler, the LG Twins outlasted the KT Wiz 6-5 on Tuesday to move within a win of reaching the next round in the Korea Baseball Organization (KBO) postseason. Austin Dean slugged a three-run homer off starter Wes Benjamin in the fifth to turn a 3-2 deficit into a 5-3 lead at KT Wiz Park in Suwon, just south of Seoul, after Park Dong-won had opened the scoring with a solo homer in the second. Starter-turned-reliever Son Ju-young twirled 5 1/3 shutout innings out of the pen and struck out seven to win in his postseason debut in front of a sellout crowd of 17,600. The Wiz made things interesting in the bottom ninth with Bae Jung-dae's two-run homer off closer You Young-chan, but Elieser Hernandez came out of the bullpen to put out the fire and got the final two outs. After taking this sloppy game with multiple lead changes, the Twins now lead the best-of-five series 2-1 and can close out the Wiz in Game 4, set for a 2 p.m. start Wednesday b ack at KT Wiz Park. Source: Yonhap News Agency

President Yoon Suk Yeol and Singaporean Prime Minister Lawrence Wong held summit talks Tuesday and agreed to strengthen cooperation in various sectors across supply chains, energy, bio and advanced technology. Yoon and Wong discussed enhancing the resilience of critical sectors based on a supply chain partnership arrangement signed between the two countries on the sidelines of the summit during Yoon's three-day state visit to Singapore. It marks the first supply chain deal between the two nations, following a multilateral agreement signed by the 14 members of the Indo-Pacific Economic Framework, an economic initiative launched by the United States in May 2022. "I and Prime Minister Wong have agreed to further strengthen cooperation in the supply chains of strategic goods and energy to deal with the growing uncertainties in the global economy," Yoon said in a joint press conference. The agreement includes specific action plans to boost resilience in key sectors, outlining a crisis response network that wil l facilitate emergency meetings between the two governments within five days of detecting supply chain disruptions. In the energy sector, the two countries signed a memorandum of understanding (MOU) on liquefied natural gas (LNG) cooperation, covering areas such as LNG swaps, joint purchases and information sharing. "The MOU on LNG cooperation between South Korea, the world's third-largest LNG importer, and Singapore, a global LNG trading hub, will contribute to the stability of the global energy supply chain," Yoon said. The two leaders committed to strengthening collaboration in the startups and cutting-edge technology sectors, aiming to create synergy between South Korea's expertise in chips, batteries and vehicles, and Singapore's strengths in artificial intelligence, bio and energy. South Korea established a startup center in Singapore in 2020, its first in Southeast Asia, to support Korean startups entering the region's markets. An extradition treaty was also signed for arrest and extradition of fu gitives between the two countries. During the summit, Yoon and Wong discussed regional security issues and agreed to present a united front against North Korea's threats at the upcoming Association of Southeast Asian Nations (ASEAN) summit in Laos later this week. "We share the view that the international community will never tolerate North Korea's illegal nuclear development and reckless provocations," Yoon said. "We have also agreed to closely coordinate to ensure that the international community sends a clear and united message to North Korea at the ASEAN Summit." Source: Yonhap News Agency

KUALA LUMPUR, ITMAX System Bhd's shares on Bursa Malaysia rose in the early session today after the group's subsidiary was appointed as the smart parking operator for 8,640 street parking bays by the Muar Municipal Council (MPM), Johor. At 10.24 am, the group's share price rose six sen to RM3.60 with 757,800 shares changing hands. The 15-year contract was awarded to ITMAX's 65 per cent-owned subsidiary, Southmax Sdn Bhd, starting from Oct 1, 2024 to Sept 30, 2039. As such, Maybank Investment Bank Bhd has maintained its 'buy' call on the group's shares, with a target price of RM4.40, premised on ITMAX's compelling prospects as Malaysia's leading smart city player. 'We tweak ITMAX's financial years 2024, 2025 and 2026 projected earnings by an additional 1.0 per cent, 2.0 per cent and 2.0 per cent, respectively, to account for the higher smart parking contribution," it said in a note today. Meanwhile, Hong Leong Investment Bank Bhd remains upbeat on ITMAX, believing that the group's latest contract win wi ll propel its earnings to the next level. "This is the fifth job win relating to smart parking solutions after securing contracts from Iskandar Puteri City Council in June 2024, Kulai Municipal Council in July 2024, and the Tangkak District Council as well as the Segamat Municipal Council in Sept 2024. "With this, we are confident that the group would be able to expand its reach to another 11 districts in Johor," it added. Source: BERNAMA News Agency

PUTRAJAYA, The Federal Court has upheld the death sentences of a former lawyer and a former farmhand for the murders of cosmetics millionairess Sosilawati Lawiya and her three aides, committed 14 years ago. The three-judge panel, led by Chief Justice Tun Tengku Maimun Tuan Mat, today rejected the applications submitted by N. Pathmanabhan, 55, and T. Thilaiyalagan, 33, to review their death sentences. 'In exercising our judicial discretion and having regard to the facts and circumstances of the case, we dismiss the applications. The death sentence is maintained,' said Justice Tengku Maimun. Meanwhile, another former farmhand, R. Kathavarayan, 44, withdrew his application to review the death sentence, which the panel subsequently struck out. This means Kathavarayan's death penalty stays. The review applications were filed in an attempt to have the death sentences commuted to imprisonment following the Mandatory Death Penalty Abolition Act 2023, which took effect on July 4 last year. Pathmanabhan, Thilaiya lagan and Kathavarayan, were convicted by the High Court in Shah Alam in May 2013 for killing Sosilawati, 47, bank officer Noorhisham Mohamad, 38, Ahmad Kamil Abdul Karim, 32 and Sosilawati's driver Kamaruddin Shamsuddin, 44. The murders took place at Lot 2001, Jalan Tanjong Layang, Tanjung Sepat in Banting between 8.30 pm and 9.45 pm on Aug 30, 2010. Their appeals were dismissed by the Court of Appeal and Federal Court on December 4, 2015 and March 16, 2017 respectively. Initially, there were four men charged but the Federal Court acquitted R. Matan, 33, after finding there was insufficient evidence to implicate him in the murders. At the start of the proceedings today, lawyer Latheefa Koya informed the court that she had received instructions from her client, Kathavarayan, to withdraw his review application. She said she had advised him on the matter but he maintained his decision to proceed with the withdrawal. Lawyers Manjeet Singh Dhillon and Amer Hamzah Arshad representing Pathmanabhan and Thilaiya lagan respectively requested the court to commute their client's death sentence to imprisonment. Manjeet asked the court to consider the pain, anguish and loneliness Pathmanabhan has faced during his incarceration. Meanwhile, Amer Hamzah requested the court to consider that his client Thilaiyalagan, is a youthful offender who deserves a second chance to redeem himself. Deputy public prosecutor Datuk Mohd Dusuki Mokhtar argued for the death penalty, emphasising that four innocent lives were taken brutally. He said there was violence involved as blood stains were found splattered on the farmhouse walls and a prosecution witness had testified that she heard screams at the farm on the day of the incident. Dusuki said a victim impact statement by one of Sosilawati's daughter stated that that she could not bear to hear the word "Banting," as it would traumatise her. He also said the victims' bodies were completely burned, leaving no remnants. It was reported that Sosilawati and her aides went missing after t ravelling to Banting for a land deal. Source: BERNAMA News Agency