Business

Selangor Aviation Show 2024 achieves RM1.3 billion potential transaction value target (Thu, 12 Sep 2024)
SUBANG: Selangor Aviation Show 2024 (SAS 2024) has achieved its RM1.3 billion potential transaction value target, said Selangor Executive Councillor for Investment, Trade and Mobility Ng Sze Han. Ng said SAS 2024 has exceeded the target set by the Selangor state government even on the opening day of the aviation show. “Because just today, we witnessed 12 MoUs signed. These 12 MoUs have reached a value of RM1.3 billion. I am confident that we will be able to achieve a higher transaction value, as there are still around 30 more MoUs to be witnessed in the next one or two days,” Ng told reporters after the opening ceremony of SAS 2024 themed “The One & Only Business & General Aviation Show in the Region” today. “As of today, the number of visitor registrations has exceeded 40,000, with over 30,000 from the public,” he said. Looking ahead, Ng said Selangor is preparing to meet the demand for 32,000 skilled workers in this sector by 2030. “Our efforts, such as the Selangor Aero Park and the Selangor Aerospace Apprenticeship Programme (SAAP), aim to cultivate young talent and support the industry’s expansion.” To retain and develop skilled talent, Ng said, the state will work closely with aerospace companies on high-impact projects and providing training programmes and financial incentives through SAAP. “These efforts aim to reverse brain drain, encourage skilled professionals abroad to return home, contribute to our country, especially in aerospace industry,” he added. Ng emphasised that Selangor’s future in these industries is bright. “I am confident that we can reach milestones as we continue to innovate and seize the opportunities ahead.” Ng said Selangor Aviation Show plays a crucial role in showcasing local capabilities to the world. “This year’s show will see an introduction of several new programmes that cater to a wider audience, including a display of exotic cars that adds a dimension and attracts more than just aviation enthusiasts,” he added. SAS 2024 took off at Skypark RAC, Selangor, today, officiated by Raja Muda Selangor Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj. Meanwhile, Selangor Menteri Besar Datuk Seri Amirudin Shari said Selangor has set its sights on making SAS the top air show in Southeast Asia and one of Asia’s best by 2030. As Malaysia prepares to chair Asean next year, he said, the nation has a unique opportunity to position itself as a leading platform for businesses to meet, collaborate, exchange ideas, and expand networks. “As Selangor aims to cement our position as the Gateway to Asean, the Selangor Aviation Show is primed to be the flag bearer to Asean’s skies, a region home to more than 680 million and growing at a rapid pace,” he added. The show offers local companies a platform to showcase their innovations, while also attracting international investors for new opportunities for growth and partnerships. This year’s edition is expected to welcome visitors from more than 45 countries, showcasing 50 types of aircraft on static display, including Diamond, Falcon 8X and Piaggio Avanti. SAS 2024 is projected to generate more than RM1.3 billion in potential transaction value with 128 booths, representing 88 companies from seven countries, including Singapore, China, the United Kingdom, France, India, Australia and Cambodia. Textron Aviation, Dassault Aviation, Signum Aviation and Hindustan Aeronautics Ltd are among the high-profile participants. Highlights of the show include exhibitions, static aircraft displays, drone demonstrations and networking opportunities.
>> Continua a leggere

MDEC onboards 140 AI solution providers with RM1b revenue generated (gio, 12 set 2024)
KUALA LUMPUR: Malaysia Digital Economy Corporation (MDEC) has onboarded 140 artificial intelligence (AI) solution providers into the digital AI ecosystem, said Digital Minister Gobind Singh Deo. He revealed that these companies have collectively generated RM1 billion in revenue, highlighting AI’s increasing role in transforming Malaysia’s economy. “AI is delivering measurable improvements, from boosting productivity in small businesses to enhancing efficiency in larger organisations,” he said at the Malaysia Digital Tech Adoption Summit: AI today. Gobind said this will solidify Malaysia’s position as a regional leader in AI. He noted that the summit provides a crucial platform for encouraging collaboration between SMEs, larger enterprises, and technology providers, driving AI-powered initiatives that can reshape industries. “The impact of AI adoption is broad. For SMEs, it can increase productivity, reduce operating costs, and provide access to advanced technologies, while larger enterprises can leverage AI to streamline operations and automate processes.” Gobind said that as AI continues to evolve, so do opportunities for the workforce. “AI will create new roles and enhance existing ones, requiring more advanced skills. Our goal is to equip our workforce with these skills to ensure they remain competitive and future-ready.” MDEC chairman Syed Ibrahim Syed Noh echoed these sentiments, stating that AI adoption is about more than technology. He said AI adoption fundamentally reshapes cultures and economies, with how AI accelerates innovation by improving information flow, personalising customer experiences, and enhancing product development across various industries. “We are optimistic about Malaysia’s AI-driven future. The potential for growth, expansion, and diversification is vast. This summit is a significant milestone in shaping the national AI landscape and positioning Malaysia at the forefront of global digital innovation,” he said. Meanwhile, the Malaysia Digital Tech Adoption Summit: AI, organised by MDEC, is the first in a series of events aimed at accelerating AI adoption across sectors. It reflects MDEC’s pivotal role in driving Malaysia’s digital transformation and aligns with the objectives of the Malaysia Digital Economy Blueprint and Fourth Industrial Revolution, targeting a 30% increase in productivity through AI-powered solutions. Industry leaders, startups, and policymakers convened at the event, which provided tech providers with a platform to showcase innovations, foster partnerships, and explore new market opportunities. The one-day summit featured keynote speeches, panel discussions, networking sessions, and business matching, all aimed at promoting the widespread adoption of AI across sectors.
>> Continua a leggere

Bermaz Auto posts pre-tax profit of RM97.8m in Q1’25, declares 3.5 sen dividend (gio, 12 set 2024)
PETALING JAYA: Bermaz Auto Bhd (BAuto) reported lower revenue and profit before tax of RM846.2 million and RM97.8 million respectively for the first quarter ended July 31, 2024 (Q1’25) compared to RM1.09 billion and RM140.7 million, respectively, in the preceding year’s corresponding quarter. Group revenue decreased by RM243.1 million (22.3%) mainly attributable to lower sales volume from its domestic operations which was impacted by the launching of several new and facelift models by other marque distributors. Group revenue in respect of preceding year corresponding quarter was also higher mainly attributable to fulfilment of Mazda3 backorders for domestic market. In line with the lower revenue, group profit before tax recorded a decrease of RM42.9 million (30.5%) compared to the preceding year’s corresponding quarter. BAuto has accounted for the expense relating to its employees’ share scheme amounting to RM2 million in the quarter under review compared to RM100,000 in the previous corresponding period. The board has approved and declared a first interim dividend of 3.5 sen single-tier dividend per share in respect of financial year ending April 30, 2025 (preceding year’s corres-ponding quarter ended July 31, 2023: 5 sen single-tier dividend per share). The entitlement date is Oct 18 and payment is on Nov 6. In its review, BAuto noted that the Malaysian economy registered growth of 5.9% in the second quarter of 2024 (Q1’24: 4.2%) driven by stronger domestic spending demand and further expansion in exports. Growth in the second half of 2024 is expected to be driven by domestic spending with continued support from external demand. Total industry volume (TIV) in July 2024 of 71,730 units was 23.6% higher than in June 2024 (58,046 units) due to longer working month and the launch of new models from marques such as Mercedes-Benz, Smart, MINI, Great Wall Motor and Jaecoo. Cumulative TIV as of end July 2024 was 462,088 units, an increase of 7.2% (31,122 units) compared to the 430,966 units in the same period of last year. The National Economic and Development Authority of the Philippines reported in August that the country’s gross domestic product (GDP) registered a higher growth rate of 6.3% in the second quarter of 2024 (Q1’24: 5.8%). The Philippine economic outlook for 2024 is expected to remain positive with a GDP growth rate of between 6% and 7%. Inflationary pressures, ongoing uncertainties in geopolitical conflicts and weaker global growth will have an adverse impact on the overall Malaysian economy. Vehicle sales in the country are impacted by the influx of Chinese-made vehicles. The launching of new and/or new facelift models of the group’s existing and new vehicle marques are dependent on the market sentiments and economic conditions then. Premised on the above, the board anticipates the performance of the group to be challenging for the financial year ending April 30, 2025.
>> Continua a leggere

US’s Benchmark Electronics expands in Penang, opens its fourth facility (gio, 12 set 2024)
BATU KAWAN: United States-based multinational engineering, design and manufacturing services company Benchmark Electronics today opened its fourth facility in Penang with an investment US$20 million (RM86.6 million). Benchmark Group vice-president Datuk Dr Bala Murugan said the facility, located in Batu Kawan Industrial Park, covers more than 8,000 square metres with space to expand at the site. With the new building, Benchmark Electronics will maintain more than 40,000 square metres of production space in Penang. He noted that with the construction of the Penang facility, Benchmark Electronics, which now employs about 1,500 people in the state, will hire up to 200 people over the next few years. “This will be Benchmark’s fourth facility in the region and will become a critical addition to existing facilities, allowing for vertical integration of key capabilities and will focus primarily on serving customers in the semiconductor capital equipment and commercial aerospace sectors. “This marks a significant milestone, highlighting our advanced capabilities and our commitment to generating more business and employment opportunities in the area,” he said during the opening ceremony. Bala said Benchmark Electronics is expanding its Penang facility to increase capacity for new and existing customers, supporting the anticipated growth of the semiconductor industry in 2025 while enhancing its vertical integration capabilities. He pointed out that the expansion will enable Benchmark Electronics to improve operational efficiencies, uphold quality standards and accelerate time to market for customer products. “Benchmark will offer advanced capabilities such as e-beam welding, large form factor 5-axis machining, type-2 cleaning and is establishing one of the largest welding and frame manufacturing centres in the region,” he added. The new facility complements the company’s three other facilities in Bayan Lepas. – Bernama
>> Continua a leggere

Umpsa’s Synbion and Philippine company in high-quality agarwood collaboration (gio, 12 set 2024)
PETALING JAYA: Synbion Sdn Bhd, the spin-off company of Umpsa Holdings Sdn Bhd, and Philippines-based United Agarwood Planters Inc (UAP) have inked a memorandum of agreement (MoA) to boost their collaboration in the agarwood industry, using a scientific-based breakthrough product. Under the MoA signed today at the Second Conference on Rethinking the Future of Sustainability (ReTHINK 2024), Synbion will supply OUDIno – a natural based inoculant for agarwood or gaharu trees to produce high quality agarwood chip grade – with assistance, facilitation and guarantee from Iba Botanicals Inc (IBI), the parent company of UAP. IBI has proposed to work with Synbion as the exclusive partner for the Philippines. The move is to ensure that the uptake of the OUDIno technology can be streamlined and strengthened through one point of contact, and supported by IBI’s industry leading position. UAP focuses on the development of the agarwood industry in the Philippines while IBI, the sole shareholder of UAP, has pioneered the production of high-value botanical extracts for export to global markets since 2018. The MoA also proposes that OUDIno will continue to be manufactured in Malaysia for now, but both parties will consider additional manufacturing facilities of OUDIno in the Philippines under a licence as the plantations in the Philippines mature and volume escalates. As part of future collaboration, IBI has requested a quotation for 125,000 units of OUDIno for use on a plantation in the Philippines. Higher Education Minister Datuk Seri Diraja Dr Zambry Abd Kadir said he was proud to see that the academic based research initiative has evolved into a commercialised export-driven product with direct impact on the gross domestic product of the country. “I am proud to witness this strategic collaboration between Synbion and UAP. By working closely with various stakeholders, universities can ensure that their research is relevant and that its benefits are widely distributed,” he said in his address at ReTHINK 2024. Zambry emphasised that universities have a responsibility to ensure that their research contributes to a sustainable future. This involves integrating sustainability into the curriculum, encouraging students to engage in projects that address environmental and social challenges, and fostering a culture of ethical responsibility. Asean Business Advisory Council Malaysia chairman Tan Sri Mohamed Nazir Abdul Razak in his keynote address said that embracing emerging technologies and fostering a culture of creativity can lead to breakthroughs that address pressing issues. He commended Synbion and Umpsa Holdings for successfully developing OUDIno for the agarwood industry. “For those who do not know, agarwood is the source of oud, one of the most expensive oil extracts in the world and recognised as the king of scents,” said Mohamed Nazir, who is also chairman of Pahang State Economic Advisory Council. “As we look to the future, the path to sustainability requires vision, commitment and collaboration. It demands that we rethink our approaches, innovate boldly and act decisively. By integrating environmental stewardship, social equity and economic viability into our strategies, we can create a resilient and equitable world for current and future generations,” he added. Umpsa Holdings Sdn Bhd chairman Datuk Seri Dr Salehuddin Ishak said OUDIno is the result of the university’s commitment in research and development in the agarwood. “The university has been established as the Agarwood One-Stop Centre as it has produced various high quality and scientific-based breakthrough products from collaboration with local and international parties. This collaboration with UAP will further enhance our agarwood industry and expand the market of the high-quality agarwood.” The two-day ReTHINK 2024, themed “Emerging Trends in Smart Agriculture and Plantations” which began yesterday features leading industry and academic experts gathering to discuss issues related to food security, smart agriculture and technological innovation in the agriculture and plantation industry to drive competitiveness and sustainability.
>> Continua a leggere

Radium Development planning projects that meet homebuyers’ evolving needs (ven, 13 set 2024)
KUALA LUMPUR: Property developer Radium Development Bhd plans to launch several projects in strategic locations across Klang Valley that are designed to meet evolving consumer needs, such as sustainable living features and flexible home layouts to accommodate work-from-home scenarios. Group managing director Datuk Gary Gan Kah Siong says the company’s project pipeline is geared towards catering to market demand, focusing on high-quality, competitively priced residential properties. “The domestic property market does face headwinds such as rising material costs and changing consumer preferences. “However, at Radium, we see these as opportunities to innovate. We are actively working on optimising our supply chain to mitigate material cost increases, and we are implementing cost-effective construction techniques that enhance productivity without compromising on quality,” he told SunBiz. Gan believes the domestic property market remains resilient and is experiencing sustained growth, and Radium’s primary focus will remain on Klang Valley. He said international expansion is not a key priority for now, although the company remains open to exploring potential opportunities when the timing is right. “Domestically, we are targeting high-growth urban areas where demand for quality housing continues to outstrip supply. To fund these initiatives, we plan to leverage a combination of internal cash flow, strategic partnerships, and possibly tapping into capital markets. Our goal is to pursue a balanced approach that allows us to grow sustainably while maintaining a strong financial position,” Gan said. When asked how Radium is mitigating the impact of current interest rates, strict lending guidelines of local banks and inflationary pressures on housing affordability, Gan said the company is developing properties that offer great value at competitive price points. “We are also exploring partnerships and alternative financing models that can further reduce the cost burden on homebuyers,” he said. Elaborating on Radium’s stock that has recently been trading near or above one-time price-to-book valuation, Gan said several factors have contributed to this, including the company’s focus on the high-demand residential segment in Klang Valley, its prudent financial management, and the ability to deliver projects on time and within budget. “Moving forward, we plan to sustain and grow our valuation by expanding our project portfolio, enhancing our operational efficiencies, and exploring innovative financing options. Additionally, we will continue to focus on enhancing shareholder value through sustainable growth strategies and maintaining robust governance practices,” he said. On Tuesday, the company officially opened the sales gallery for its project, Radium Arena. Strategically located on Old Klang Road in Kuala Lumpur, Radium Arena has a gross development value of RM550 million and offers a unique blend of urban comfort, convenience, and sustainable living. Targeted for completion in the fourth quarter of 2028, the development has already generated considerable market anticipation. Radium Arena, situated on 3.03 acres of prime freehold land, consists of two 40-storey towers housing 988 meticulously designed residential units. The project recently earned the Provisional GreenRE Certification (Gold) for its sustainable design and innovative green features. Gan said Radium Arena addresses the increasing demand for affordable homes near the city centre and aligns with Radium’s mission to offer high-quality housing that meets the aspirations of Malaysians across diverse backgrounds.
>> Continua a leggere

Itmax System bags 15-year smart parking contract from Tangkak District Council (gio, 12 set 2024)
PETALING JAYA: Itmax System Bhd, a company primarily involved in the supply, installation and provision of public space networked systems, announced today that subsidiary Southmax Sdn Bhd has been appointed as smart parking operator by Tangkak District Council (MDT) to manage 5,113 street parking bays. The contract, effective from Sept 1, will be for 15 years. Similar to Itmax’s other smart parking contracts, it will be operated under a revenue-sharing model, with Southmax receiving 70% of the revenue generated from parking collections and parking compounds in MDT. Itmax System managing director/CEO William Tan Wei Lun said, “We are delighted to secure our third smart parking contract in Johor. This marks another significant step for us in expanding our smart city solutions. By leveraging our integrated technology suite, we aim to provide an efficient and user-friendly parking management solution for the Tangkak district. Our focus will remain on enhancing operational efficiency for local councils and improving the parking experience for users.” “Our application, Parkmax@JOHOR, plays a key role in the digitalisation of parking operations in Johor. Through continuous promotion and public education, we have observed increased users and awareness of parking fee payments, with a growing traction since the launch of our smart parking system. As we continue to build on our momentum, we look forward to expanding our smart parking solution to cities across Johor state,” he added.
>> Continua a leggere

Resorts World Genting signs MoUs with Nestle and Aqina Farm (mer, 11 set 2024)
GENTING HIGHLANDS: Resorts World Genting (RWG) has signed a memorandum of understanding (MoU) with Nestle Malaysia to supply Harvest Gourmet plant-based food alternatives at its meetings, incentives, conferences and exhibitions and food and beverage outlets. The agreement, which takes effect on Oct 1 and is valid for a year, allows RWG access to the full portfolio of Harvest Gourmet products. RWG executive vice-president of sales, marketing and public relations Spencer Lee said the premier integrated resort is keen to grow its commitment towards sustainable futures and development. “It is with this in mind that we are infusing elements of sustainability in our kitchens and bringing more plant-based foods to the table,” he said at the ongoing Genting SustainBiz F&B Expo. Nestle Professional Malaysia Singapore head Yit Woon Lai said the company looks positive in collaborating with RWG to drive awareness of plant-based alternatives in the Malaysian food psyche and grow the meatless food segment. “Harvest Gourmet offers a viable alternative for increasingly environmental and health-conscious consumers looking to incorporate high quality all-natural plant-based ingredients into their diets.” As part of its collaboration with Nestle, RWG has rolled out an extensive meat-free plant-protein menu from Sept 1 that utilises Nestlé’s plant-based solution, Harvest Gourmet, at most of its F&B outlets. Meanwhile, RWG has also established a partnership with Aqina Farm, marked by the signing of a MoU on the second day of the inaugural Genting SustainBiz F&B Expo. The collaboration underscores RWG’s commitment to community development and environment through sustainable agriculture. Aqina Farm, known for its halal-certified kampung chickens, employs an eco-farming system that uses chicken manure as organic fertiliser to enhance soil quality and produce high-quality MD2 pineapples. The method aligns with RWG’s objective of promoting sustainable food sources while supporting environmentally friendly practices. The signing was witnessed by Deputy Plantation and Commodities Minister Datuk Chan Foong Hin. The partnership aims to empower B40 farmers by supporting Aqina Farm’s B40 Farmers Programme. This initative provides rural communities with training in sustainable farming techniques, enhancing their skills and economic stability. A unique feature of the initiative is Aqina Farm’s buyback guarantee, which ensures a reliable market for the farmers’ produce, further promoting economic security. To date, the programme has trained 32 farmers, equipping them with essential resources for sustainable farming. Moreover, the collaboration promotes sustainable agriculture and healthy living by making Aqina Farm’s MD2 pineapples available at selected RWG locations, fostering nutritional awareness among patrons and supporting local agriculture. “We are thrilled to support Aqina Farm’s initiative to empower B40 farmers through sustainable agriculture,” Lee said “By offering Aqina Farm’s MD2 pineapples and backing their training programme, we are reinforcing our commitment to community welfare and environmental sustainability. This partnership also echoes the government’s initiative to support the B40 community, ensuring inclusive growth and opportunities for all.” Aqina Farm group managing director Wesley Tan Seah Ging said the company’s collaboration is a step forward in promoting sustainable farming practices and providing meaningful support to B40 farmers. “We look forward to a partnership that enhances community welfare and aligns with our commitment to environmental stewardship.”
>> Continua a leggere

Malaysia can lead Asean’s AI revolution, says IBM (mer, 11 set 2024)
KUALA LUMPUR: Conducive government policies, including the National Artificial Intelligence Framework and the Digital Economy Blueprint, have positioned Malaysia as a leader in AI innovation and adoption. IBM Malaysia managing director Dickson Woo said that as Malaysia prepares to serve as chair of Asean in 2025, the country will be leading the region in scaling AI. “These initiatives reflect the Madani Government’s proactive stance in nurturing a robust digital ecosystem, attracting global tech investments and ensuring that AI development aligns with ethical standards,” said Woo, who added that such policies have accelerated AI integration across various sectors and paved the way for Malaysia to influence Asean’s digital future. He explained that AI’s potential to transform industries is already evident, with sectors such as banking and manufacturing witnessing enhanced productivity, efficiency, and innovation. “Generative AI, in particular, is enabling businesses to automate processes, optimise resources and create new opportunities for growth. As AI becomes more integrated into economic strategies, the opportunities for job creation, higher efficiency, and sustainable development multiply, offering a pathway to a more prosperous and inclusive regional economy.” However, the promise of a digital Southeast Asia can only be realised if there is a concerted effort to invest in talent development. “By focusing on reskilling and upskilling the workforce in critical areas like AI, cloud computing and cybersecurity, Malaysia can ensure that its people are equipped to thrive in the digital age,” said Woo. “Collaboration between governments, educational institutions, and private sector leaders will be crucial in fostering a digitally skilled workforce capable of driving the region’s AI agenda forward.” In conclusion, IBM continues to support Malaysia’s vision of a digitally empowered future through initiatives like IBM SkillsBuild and IBMZXplore. “These programmes are designed to reskill and upskill local talents in critical areas such as AI, cloud computing and cybersecurity. By partnering with educational institutions and non-profit organisations, IBM also aims to equip Malaysia’s workforce with the skills needed to thrive in the digital age, ensuring the country’s continued leadership in AI and digital innovation,” said Woo.
>> Continua a leggere

FarmByte and Agrobank forge strategic alliance to strengthen Malaysia’s good security (mer, 11 set 2024)
SERDANG: In a landmark move set to transform and strengthen Malaysia’s agricultural landscape, FarmByte Sdn Bhd and Bank Pertanian Malaysia Berhad (Agrobank) have partnered to bolster the nation’s agrofood sector. This collaboration is poised to empower smallholder farmers by providing crucial financial support and market access, paving the way for a more sustainable and profitable future in agriculture. The partnership, officially unveiled at a ceremony in Malaysia Agro Exposition Park Serdang (MAEPS) as part of MAHA 2024, will see Agrobank allocate close to RM12 million in funding to support FarmByte’s contract farming programmes. These programmes will initially focus on key crops such as long brinjals, mini brinjals, bitter gourd palee, chilli akata, chilli kulai, and okra, with pilot projects set to launch in Johor before expanding nationwide. Central to this collaboration is FarmByte’s commitment to leverage advanced technology to enhance farming practices. Through FarmByte, farmers will gain access to real-time data on crop demand, supply trends, and pricing forecasts. This data-driven approach, combined with Agrobank’s financial backing, is expected to significantly improve yield outcomes and market stability for smallholder farmers. Agrobank president and CEO Tengku Ahmad Badli Shah Raja Hussin said by offering financial support and market guarantees, they are not only improving the livelihoods of farmers but also contributing to Malaysia’s food security. FarmByte, a digital-first agrofood company under Johor Corporation (JCorp), is at the forefront of driving innovation in Malaysia’s agrofood industry. According to FarmByte CEO Syed Aiman Kifli Syed Jaafar, the partnership with Agrobank aligns with the company’s vision to revolutionise farming by providing farmers with both financial and technological resources. “Our goal is to empower farmers to produce higher quality, higher value crops, ensuring a more sustainable and profitable agrofood value chain,” he shared. “With Agrobank’s support, we can offer farmers not just financial assistance but also the tools and insights they need to thrive in a competitive market.” A key feature of the partnership is a guaranteed offtake arrangement, where FarmByte commits to purchasing all harvested crops from participating farmers. This arrangement provides farmers with a secure and stable market, reducing the financial risks associated with farming and ensuring a consistent supply chain.
>> Continua a leggere

ICT Zone Asia’s 1H FY25 net profit soared 117% (mer, 11 set 2024)
KUALA LUMPUR: Technology financing solutions provider ICT Zone Asia Berhad (ICT Zone or the group) saw its net profit for the 6-month financial period ending July 31, 2024 (1H FY25) more than double compared to the previous year, driven by higher gross profit from increased revenue in the technology financing (techfin) and cloud solutions and services segments. Profit after taxation and minority interests for the six months rose to RM4.37 million from RM2.02 million, according to the group’s bourse filing on Tuesday. This led to higher earnings per share (EPS) of 0.74 sen for 1HFY25 compared with 0.38 sen for the same period last year. The group also announced a preference dividend of 2 sen per Irredeemable Convertible Preference Shares (ICPS) for the period, which will be paid on October 16. Revenue for the period, however, decreased marginally to RM 57.65 million from RM58.24 million a year ago on the back of lower contribution from the trading of ICT hardware and software segment. The decrease was partially offset by the increase in the other 3 segments especially the cloud solutions and services segment which saw its revenue jump 154%. The LEAP market listed group expressed confidence in its growth trajectory especially in the technology financing segment, which contributed 62% of the group’s revenue in the current financial period. Total unbilled orderbook of this segment for the next 5 financial years currently stands at RM217.6 million. In June this year, the shareholders of the Group approved the company’s transfer from the LEAP Market to the ACE Market. As such, the Group expects to complete the transfer by the first quarter of 2025. ICT Zone shares closed at RM0.22 on Thursday, giving the group a market capitalisation of RM129 million.
>> Continua a leggere

Malaysia Guangdong Chamber of Commerce expects trade deals worth RM60m at expo (mer, 11 set 2024)
KUALA LUMPUR: The inaugural 2024 Malaysia E-Commerce Product Selection Expo is expected to generate RM60 million in trade transactions, especially in emerging industries such as renewable energy and e-commerce. The expo will highlight advanced technologies in China’s electronics sector, with a focus on how new energy solutions are accelerating the green transition. This includes innovations in solar photovoltaics, energy storage, charging piles, lighting and domestic appliances. Malaysia Guangdong Chamber of Commerce (MGCC) president Datuk Tang Zhi Nian said the event provides a platform for Malaysia’s businesses to connect with over 200 top-tier Chinese suppliers across key industries such as electronic and smart home technology. “For our China partners, Malaysia offers not only a strategic gateway to Southeast Asia, but culture, language, and regional access,” he said at the launch press conference today. Tang said that the event is also part of the 50th anniversary celebration of diplomatic relations between Malaysia and China. “China has been Malaysia’s largest trading partner for 15 consecutive years, with bilateral trade reaching over US$100 billion for the first half of 2024. These numbers reflect the strength of our partnership,” he said. “Together, we can tap into emerging trends and unlock new opportunities in this fast-growing region,” he added. JMM Holding founder Ellison Yang said that Malaysia’s strategic location, multilingual capabilities, and cultural diversity make it an ideal gateway for Chinese companies entering the Southeast Asian market. With the production expertise and competitive pricing of Chinese businesses, this collaboration will boost market penetration across Asean.” The event is jointly organised by MGCC and hosted by JMM Exhibition. It will be held from Nov 29 to Dec 1 at Malaysia International Trade and Exhibition Centre. Entry is free of charge for business owners and consumers with organisers expecting more than 15,000 visitors. The expo will offer a purchasing experience for Malaysian businesses seeking bulk orders, as well as for retail consumers exploring a range of products.
>> Continua a leggere

Tanco’s AI container port project in Negeri Sembilan grabs limelight (mer, 11 set 2024)
PETALING JAYA: Tanco Holdings Bhd’s artificial intelligence (AI) container port was highlighted at the recent Malaysia-China Entrepreneurs Exchange Conference, where it was described as a key infrastructure project that will enhance Malaysia’s international trade capabilities. The highlight of the smart AI port positions Negeri Sembilan as a pivotal maritime hub in Southeast Asia, unlocking significant economic potential for Malaysia’s logistics and industrial sectors. The port, boasting modern technology and backed by a 480-acre landbank, will feature natural deep-water access exceeding 21 metres, allowing it to accommodate the world’s largest container ships. Negeri Sembilan state executive councillor Teo Kok Seong underscored the state’s competitive investment environment, citing its geographic advantage as pivotal for Tanco’s port development. At the conference, Tanco group managing director Datuk Seri Andrew Tan Jun Suan expressed the group’s vision to create a world-class port to drive Malaysia’s economic growth and technological advancement. The project’s strategic location and Negeri Sembilan’s competitive land prices make it an attractive investment destination for both local and international enterprises. More than RM2 billion in foreign investments, including notable players such as Nezha Automobile, Lee Kum Kee and Kibing Glass, have already been made in the state. The successful completion of the smart AI container port will mark a significant milestone in Malaysia’s infrastructure development. It will offer advanced logistics capabilities while promoting sustainable practices. It will also catalyse the growth of industrial zones and green technology investments in the region. As Malaysia and China celebrate five decades of diplomatic relations, the smart AI port project underscores their long-standing partnership and paves the way for future economic collaborations. Tanco remains committed to driving innovation and economic growth through strategic partnerships, sustainable practices, and technological advancement. The conference brought together prominent organisations, including Shanghai Overseas Economic and Technical Promotion Association, Malaysia Overseas Economic and Technological Industrial Development Association and Malaysia-China Business Council. It served as a platform for promoting bilateral investments, particularly sustainable development and digital economic cooperation.
>> Continua a leggere

Berjaya Sompo wins three coveted titles at Global Brand Awards 2024 (mer, 11 set 2024)
PETALING JAYA: Berjaya Sompo Insurance Bhd is a triple winner at the Global Brand Awards 2024, securing three coveted titles, underscoring the Malaysian general insurer’s continued innovation and excellence in delivering customer-focused solutions. The awards won are the Most Innovative Motor Insurance Brand – SOMPO Motor & SOMPO MotorSafe; Most Innovative Mobile Application in General Insurance – MySOMPO and Best Travel Insurance – SOMPO TravelSafe+ “We are deeply grateful to the entire Berjaya Sompo team for their hard work and dedication, which have made these prestigious awards possible. This recognition is a testament to our collective efforts in driving innovation and delivering exceptional insurance solutions. It also reflects our commitment to our vision of ‘We Are Here with You’ and our mission of ‘Insurance Made Easy for You’, said Berjaya Sompo Insurance CEO Tan Sek Kee. SOMPO Motor and SOMPO MotorSafe, recognised under “The Good Drivers” initiative, have revolutionised the motor insurance landscape in Malaysia by introducing special perils coverage as a standard feature. This strategic move addresses climate-related risks, offering protection against floods and other natural disasters. Additionally, Berjaya Sompo’s green initiative, which supports windscreen chip repair instead of full replacement, aligns with its broader sustainability goals, reducing waste and repair costs. The award-winning MySOMPO mobile app exemplifies Berjaya Sompo’s dedication to customer-centric digital innovation. Since its launch in March 2023, the app has recorded close to 25,000 downloads. MySOMPO empowers customers with features such as 24-hour roadside assistance, an e-medical card, and the ability to submit and track claims effortlessly. This app’s recognition as the Most Innovative Mobile Application highlights Berjaya Sompo’s leadership in enhancing customer experience through digital tools. Berjaya Sompo’s commitment to safeguarding travellers is exemplified by SOMPO TravelSafe+, honoured as the Best Travel Insurance. SOMPO TravelSafe+ also offers unlimited Emergency Medical Evacuation and Repatriation. Besides that, SOMPO TravelSafe+ covers many other potential risks, such as baggage delay/loss, loss of money and personal documents, and disruptions in your transportation plans like delays, overbooking, misconnection, and rerouting.
>> Continua a leggere

Malaysian food and beverage industry gains appetite for sustainability (mar, 10 set 2024)
GENTING HIGHLANDS: As a robust contributor to Malaysia’s national gross domestic product (GDP), the transformative and dynamic food and beverage (F&B) industry is already shifting towards sustainability, with consumers preferring and supporting pro-environment and sustainable products and companies. Resorts World Genting (RWG) executive vice-president of sales, marketing, and public relations Spencer Lee said businesses have had to embrace and make sustainability a critical focus and integral part of their operations. “In line with world sustainability trends, corporations are increasingly focusing on waste reduction, sustainable packaging, minimising carbon footprint through local food sourcing, and food customisation with healthier options for consumers, all while utilising technology and digital advancements to boost operational efficiency. “RWG is very much vested in and geared towards sustainable futures and green economy development,” he said at the opening of the Genting Sustainbiz F&B Expo today. To note, the domestic F&B industry recorded revenue of RM228.66 billion in 2023 and the amount is expected to grow at a compound rate of 7.95% from 2023 to 2027. Lee said RWG is exhibiting its growing commitment towards sustainability by signing five memorandums of understanding over the next two days. The pacts with Nestle Malaysia Bhd, Fraser & Neave Holdings Bhd, PNH Malaysia Sdn Bhd, Farm Fresh Bhd and Aquina Trading Sdn Bhd will offer more sustainably sourced and healthier food options for RWG guests. The MoU with Nestle Malaysia is for the supply of Harvest Gourmet plant-based products for MICE events and F&B outlets, followed by another with Fraser & Neave (F&N) to explore the use of 100% recyclable Tetra Pak-ed natural mineral water to reduce the dependence on plastic and single-use bottles at the resort. RWG also inked an MoU with PNH Malaysia that focuses on upcycling food waste and transforming it from carbon powder into hotel amenities such as toothbrushes, hair combs and cutleries for use at the resort. Further, on Day 2 of the expo, RWG will sign two more MoUs, one with Farm Fresh and the other with Aqina Farm. The MoU between RWG and Farm Fresh involves a joint marketing campaign to promote nutritional awareness and healthy living at RWG, while the MoU with Aqina Farm explores the purchase of pineapples cultivated by B40 farmers. Deputy Tourism, Arts and Culture Minister Khairul Firdaus Akbar Khan said the Genting Sustainbiz F&B Expo, the first of its kind by RWG, reinforces Malaysia’s image as an international trade and MICE hub. “Enhancing our position in the regional meetings, incentives, conferences, and exhibitions (Mice) sector is Motac’s top priority. “A thriving MICE segment does not just contribute to our gross national income; it creates jobs, opens opportunities, and positions Malaysia as a premier destination for business and innovation,” he said. Khairul Firdaus said this expo will welcome an estimated 3,000 visitors over the next three days and host 60 multinational and local brand exhibitors. He said each visitor represents a potential partnership and each exhibitor a possible breakthrough in sustainable innovation. “The success of a trade and exhibition hub depends on the availability of high-quality accommodation, business spaces, restaurants, entertainment options, and leisure facilities. RWG excels in all these areas, making it an ideal location for promoting MICE activities and supporting our tourism goals,” Khairul Firdaus said. The launch of Genting SustainBiz F&B Expo marks the start of three exciting days of free workshops, networking opportunities with top-tier buyers and knowledge sharing of the latest trends in F&B sustainable practices at RWG.
>> Continua a leggere

inDrive enters higher gear to strengthen presence in Malaysia (mar, 10 set 2024)
KUALA LUMPUR: Global mobility and urban services platform inDrive is furthering its growth plans and community-focused initiatives to strengthen its presence in Malaysia. InDrive Asia-Pacific marketing director Natalia Makarenko said that since entering the Malaysian market, inDrive has rapidly expanded its footprint to urban agglomeration and major cities such as Klang Valley, Penang and Johor Bahru. “InDrive has achieved impressive milestones, with a 20% increase in rides and a 21% surge in active users during the first half of 2024. The number of active drivers is also expected to rise by 23%, reflecting the growing demand for inDrive’s unique ride-hailing services in Malaysia,” she said at a media luncheon hosted by inDrive today. She added that the Malaysian market is one of inDrive’s key growth areas in Southeast Asia, and the company is committed to delivering innovative, community-focused mobility solutions that meet local needs. “Our goal is not only to provide a superior ride-hailing experience but also to play a meaningful role in the communities we serve through sustainable practices and impactful initiatives,” said Makarenko. She noted that inDrive differentiates itself in the competitive ride-hailing landscape by allowing passengers and drivers to negotiate fares directly, offering a level of flexibility and fairness not commonly found in traditional pricing models. “To support growth and enhance our offerings, inDrive is rolling out several strategic initiatives in Malaysia. Future plans include improving the overall driver experience, with the introduction of enhanced benefits such as insurance coverage, loyalty programmes, and training support,” she said. Makarenko disclosed plans by inDrive to expand driver support centres to key cities such as Penang and Johor Bahru and is exploring the potential launch of an electric vehicle fleet to promote sustainable and innovative mobility solutions. “Malacca is also on our radar for expansion. The state’s strong interest and high mobile phone usage make it an attractive location for us. These factors are crucial when evaluating new sites.” Makarenko said Southeast Asia’s ride-hailing market is expected to reach US$8.87 billion (RM38.52 billion) by 2024 and expand at a compound annual growth rate (CAGR) of 5.39% by 2029. “This growth trajectory positions inDrive as a key player in the region, poised to capitalise on the expanding opportunities.” Makarenko said the Malaysian market, in particular, is set to grow at a CAGR of 3.5% from 2024 to 2029, reaching a projected market volume of US$570 million by 2029. “The number of users in the Malaysian ride-hailing market is expected to grow significantly, reaching 11.47 million by 2029, with user penetration increasing from 28.1% in 2024 to 31.5% by 2029,” said Makarenko.
>> Continua a leggere

National Library of Malaysia embraces AI, robotics to stay relevant and up to date (mar, 10 set 2024)
KUALA LUMPUR: The National Library of Malaysia is embracing technologies including artificial intelligence (AI) and robotics in its modernisation plan to stay relevant and up to date, said deputy director-general Edy Irwan Zulkafli. He said the National Library is keeping up with new technologies to offer visitors a fresh and unique experience. “Our aim is to ensure the library progresses technologically while preserving our nation’s heritage and civilisation,” he told SunBiz on the sidelines of a talk on “Knowledge Management In The World Of Technology’ at the National Library today. Edy Irwan said as technology rapidly advances, library users will increasingly demand more, so it strives to ensure that it keeps pace with these technological developments. “Whether in the private sector or within libraries, we aim to pioneer technologies that can also be applied at the National Library.” Edy Irwan said the National Library has already incorporated several elements into its strategic plan for 2024 to 2028, as well as the ICT Strategic Plan of the National Library for the same period (2024-2028). “For example, the use of facial recognition technology is being considered to monitor visitors to the National Library, as well as staff to help detect attendees.” Additionally, it is proposing the use of chatbots to ease visitor access and interaction with its services. “We have applied for this implementation of robotics. In today’s age, robotics is even used in restaurants, so we are considering these efforts as part of our future ICT development.” Edy Irwan said a proposed superapps has been suggested to analyse user behavior to recommend appropriate reading materials, similar to the concept of Netflix. “And Big Data Analytics with projected two data sets every year. Currently, the National Library’s big data is only for descriptive purposes, but it can be explored to move towards predictive analytics,” he added. The National Library has conducted its “Knowledge Management Talk”, an initiative aimed at exposing staff to the latest trends and, at the same time, engaging virtually with library users to inform them of current trends that can be implemented in libraries. “During the first session, the panel highlighted the use of commonly utilised applications that streamline processes such as Mind Maps and ChatGPT. All of these tools are meant to assist processes,” Edy Irwan said. However, he said, ethical use must be emphasised, as uncontrolled use could result in unintentionally appropriating knowledge or ideas from original creators. “Besides this, today’s programme also serves to raise public awareness, and we hope to see its implementation within the National Library of Malaysia itself.”
>> Continua a leggere

Tanco enhances collaboration with Chinese partners to speed up development of Malaysia’s first AI-driven smart port in Negeri Sembilan (mar, 10 set 2024)
KUALA LUMPUR: Tanco Holdings Bhd’s (THB) artificial intelligence (AI) container port was highlighted at the recent Malaysia-China Entrepreneurs Exchange Conference, describing it as a key infrastructure project that will enhance Malaysia’s international trade capabilities. The highlight of the smart AI port positions Negeri Sembilan as a pivotal maritime hub in Southeast Asia, unlocking significant economic potential for Malaysia’s logistics and industrial sectors. The port, boasting modern technology and backed by a 480-acre landbank, will feature natural deep-water access exceeding 21 meters, allowing it to accommodate the world’s largest container ships. Negeri Sembilan state executive councilor Teo Kok Seong underscored the state’s competitive investment environment, citing its geographic advantage as pivotal for THB’s port development. At the conference, THB group managing director Datuk Sri Andrew Tan Jun Suan expressed the group’s vision to create a world-class port to drive Malaysia’s economic growth and technological advancement. The project’s strategic location and Negeri Sembilan’s competitive land prices make it an attractive investment destination for both local and international enterprises. Over RM2 billion in foreign investments, including notable players like Nezha Automobile, Lee Kum Kee, and Kibing Glass, have already been made in the state. The successful completion of the smart AI container port will mark a significant milestone in Malaysia’s infrastructure development. It will offer advanced logistics capabilities while promoting sustainable practices. It will also catalyse the growth of industrial zones and green technology investments in the region. As Malaysia and China celebrate five decades of diplomatic relations, the smart AI port project underscores their long-standing partnership and paves the way for future economic collaborations. THB remains committed to driving innovation and economic growth through strategic partnerships, sustainable practices, and technological advancement. The conference brought together prominent organisations, including the Shanghai Overseas Economic and Technical Promotion Association, the Malaysia Overseas Economic and Technological Industrial Development Association and the Malaysia-China Business Council. It served as a platform for promoting bilateral investments, particularly sustainable development and digital economic cooperation.
>> Continua a leggere

Manufacturing sector’s sales value rises to RM157b in July (mar, 10 set 2024)
PETALING JAYA: The Malaysian manufacturing sector’s sales value reached RM157.1 billion in July 2024, registering a surge of 9.1% compared to the same month last year. Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin said, “The manufacturing sector’s sales value surged by 9.1% to reach RM157.1 billion in July 2024 (July 2023: -3%), marking the highest growth since February 2023 (10.3%). The increase was driven largely by a double-digit growth of 16% (June 2024: 8.6%) in the food, beverages & tobacco sub-sector; followed by the sub-sector of electrical & electronics products (8.2%); and the petroleum chemical, rubber & plastic (6.2%). On a month-to-month basis, the sales value grew by 0.6% from RM156.1 billion in June 2024 (0.8%).” Export-oriented industries which constituted 72.3% of the total sales value, stayed robust with a 9.4% growth in July 2024 after registering 6% in the preceding month. The better performance was attributable to the increase in the manufacture of computer, electronics & optical products (9.1%); manufacture of vegetable & animal oils & fats (23.5%); and manufacture of coke & refined petroleum products (4.8%) industries. In a month-on-month comparison, the sales value of the export-oriented industries dropped marginally by 0.5% (June 2024: 3.9%). Similarly, domestic-oriented industries strengthened at 8.4% (June 2024: 5.5%), mainly influenced by the manufacture of food processing products at 7%. In the meantime, the manufacture of motor vehicles, trailers & semi-trailers industry rebounded to 6.2% from a decline of 5.2% recorded in the preceding month. For a comparison on a monthly basis, the sales value of domestic-oriented industries turned upward by 3.7% after registering a declining trend since April 2024 (June 2024: -6.7%). Mohd Uzir said, “There were 2.37 million employees engaged in the manufacturing sector in July 2024, an increase of 1.3% (June 2024: 1.0%) compared to a year ago. The growth was predominantly attributed to food, beverages & tobacco (4.0%); non-metallic mineral products, basic metal & fabricated metal products (2.3%); and wood, furniture, paper products & printing (1.2%). In comparison with the preceding month, the number of employees in this sector declined slightly by 0.01% (June 2024: -0.3%). In the meantime, the salaries & wages paid in the manufacturing sector rose by 2.4%, reaching a total of RM8.12 billion. This resulted in the increase of average monthly salaries & wages per employee by 1.2% year-on-year to RM3,429 (June 2024: 0.8%; RM3,459). Simultaneously, the sales value per employee rose by 7.8% to record RM66,285 (June 2024: 4.8%; RM65,874), he said.. Mohd Uzir said, “For the first seven months of this year (January – July 2024), the manufacturing sector’s cumulative sales value reached RM1,078.6 billion, increased by 4.5% as compared to the same period of 2023 (January - July 2023: RM1,032.6 billion; 2.5%). The number of employees went up by 1.3% to a total of 2.37 million persons, while salaries & wages grew by 1.5% to RM57.4 billion. Subsequently, the sales value per employee stood at RM455,213, posting a growth of 3.2%.”
>> Continua a leggere

Malaysia’s Industrial Production Index expands at faster 5.3% in July (mar, 10 set 2024)
PETALING JAYA: Malaysia’s Industrial Production Index (IPI) expanded by 5.3% in July 2024, driven by strong growth in the manufacturing sector output. Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin, “The Industrial Production Index expanded 5.3% in July 2024 after registering 5.0% growth in the preceding month. The expansion was attributable to the strong increase in the manufacturing output 7.7% (June 2024: 5.2%) and a 7.0% growth (June 2024: 3.5%) in electricity output. Meanwhile, the production of the mining sector declined 5.0% as against positive growth of 4.9% in June 2024. In comparison with the preceding month, the IPI dropped 1.5% from 4.8% growth in the previous month.” Both export-oriented and domestic-oriented industries perform favourably in July 2024 by recording 7.8% (June 2024: 5.4%) and 7.5% (June 2024: 4.6%) growths, respectively. The growth in export-oriented industries was underpinned by broad-based expansion across all industries particularly by a double-digit growth of 21.9% (June 2024: 11.0%) in the manufacture of vegetable & animal oils & fats; and followed by manufacture of computer, electronics & optical products at 5.0% (June 2024: 4.9%). In addition, the manufacture of coke & refined petroleum products also remained high, with a growth of 11.7% (June 2024: 12.5%). The year-on-year expansion of export-oriented industries mirrored the performance of the country’s export of manufactured goods, which increased by 10.6% in July 2024. On a month-on-month comparison, the export-oriented industries fell 3.3% from 11.8% growth in June 2024. The upturn in domestic-oriented industries was primarily driven by a robust growth in the manufacture of other non-metallic mineral products; and the manufacture of basic metals, which registered increases of 12.2% and 10.5%, respectively. Additionally, the manufacture of motor vehicles, trailers & semi-trailers rebounded with a growth of 3.9% (June 2024: -10.7%). In comparison to the preceding month, the domestic-oriented industries increased 1.0% (June 2024: -5.4%). Mohd Uzir said, “For the first seven months this year (January-July 2024), the IPI improved 4.1% (January-July 2023: 1.1%), with all sectors posting increases, namely the mining index (2.9%); manufacturing index (4.1%); and electricity index (7.1%).”
>> Continua a leggere