China needs first mover advantage in digitial-currency race SHANGHAI (Sept 21): China needs to become the first nation to issue a digital currency in its push to internationalise the yuan and reduce its dependence on the global dollar-payment system, a commentary published by the country's central bank said. An article published in China Finance, a magazine run by the People's Bank of China (PBOC), said the rights to issue and control a digital currency would become a "new battlefield" of competition among sovereign countries. Issuance and circulation of the digital currency would bring great changes to existing international finance, it said. "China has many advantages and opportunities in issuing [first] digital currencies, so it should accelerate the pace to seize the first track," the article, which was published over the weekend, said. Local media last month reported some of China's major state-run commercial banks had already started conducting large-scale internal testing of a digital wallet, moving a step closer to the official launch of the home-grown digital currency. The China Finance article argued that the improved data feedback from a digital currency would help enhance monetary-policy transmission, which supports an economic recovery in the post-pandemic era. China also needs to establish a new payment-system network to break the dollar monopoly as a key part of the yuan internationalisation, the article said. It added that a PBOC digital-currency-research unit had filed 130 patent applications related to cryptocurrency ranging from issuance, circulation to application as of end-April. Those functions would form a complete supply chain to support for the launch of a digital currency. In April, the PBOC's digital-currency institute told Reuters it was conducting internal trials of a digital-currency electronic-payment system in four cities and that it intended to pilot the system at future Winter Olympics venues. The PBOC set up the research team six years ago to explore the possibility of launching a digital currency to cut the cost of circulating paper money and boost policymakers' control of money supply.
GHL Systems Bhd it is offering e-vouchers for screening tests, insurance plans and sanitisation packages to combat the rising number of Covid-19 cases.
GHL Systems it will offer a special discount priced RM220 e-voucher for Covid-19 screening tests, or RT PCR Gold-Standard test, through its tie-up with BP Healthcare Group’s unit Ali Health Sdn Bhd.
At present public hospitals only allow Covid-19 screening tests if one meets the criteria outlined by the Ministry of Health such as showing symptoms of acute respiratory infection and having travelled abroad in the last 14 days or having had a close contact with a positive case. GHL also announced that it will, together with Shieldcard Holdings, offer AXXESS Covid-19 Protect insurance for as low as RM28.50, with a coverage of three months.
This insurance protection plan provides compensation in the event of hospitalisation (RM2,000) and death (RM10,000) due to Covid-19,” said GHL. On top of Covid related incidents, policy holders are also compensated RM10,000 for death caused solely by accidental means, said GHL. The insurance is under-written by AIA General Bhd.
GHL said all Malaysians from the age of one month to 65 years are eligible to be covered by the insurance plan and with no restrictions to anyone who faces increased risk. No health declaration or medical reports are required to obtain this coverage.
The price soared to a new high with such a low volume for the last couple of weeks. Go figure out by yourself if it is a right timing to go in before bonus ex-date, moreover , please calculate the PE at current pricing , just imagine with such a high PE and come additional 50 percent stock volume ex-bonus issue, how much more revenue and profit need to be generated for the stock price to go up further.
In my humble opinion. I believe it is major fund holder left to right hand buysell trade that created such a upswing, and if I believe you know who are the major fund holders. If any retailer has a compelling need to buy, he has to a be a fast hand to make money as the up swing is not fundamentally supported, it is merely support by e-money theme play.
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Small investor should be team heart together. If good earn together. All know pe is bit high and lately very sharp drop seldom see before. If got holding power can gogogo. Just wonder what price is a better price to support? 1.50? 1.60? 1.70? 1.80?
Latest news Urusharta Jamaah MOF Co now own 5% of GHL. Most probably bought from Creador. Good chance of GHL getting e banking licence. Keep your shares man....
Bad things happen, ofc could affect conpany image or share price a bit but it won't be long. Last time similar things happen to CIMB, only lasts for few days then voila recovered. GHL did the right thing with their first action by releasing official statement for further investigation.
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ThePowerOfGlove
3,963 posts
Posted by ThePowerOfGlove > 2020-09-19 15:49 | Report Abuse
Okay also la