Business

Moody’s affirms Malaysia’s sovereign credit rating at ‘A3’ with stable outlook (Sat, 25 Jan 2025)
KUALA LUMPUR: Moody’s Ratings (Moody’s) has reaffirmed Malaysia’s sovereign credit rating at “A3” with a “stable” outlook while declaring that Malaysia’s medium-term growth prospects remain buoyant. This reflects the consistent efforts undertaken by the government to sustain economic growth, as well as staying the course in its fiscal reforms despite the uncertainties reshaping global economy and geopolitical fragmentation, the Finance Ministry (MoF) said in a statement today. Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim said Moody’s affirmation recognises the MADANI Government’s relentless efforts to drive structural change, guided by clear policy directions and an unwavering commitment to high governance standards. “The government remains steadfast in pursuing economic reforms and fostering regional growth, ensuring the fulfilment of its reform agenda for the benefit of all Malaysians,” he said in the statement. Anwar said the MADANI Government will drive fiscal and economic reforms further this year, as outlined in Budget 2025, while prioritising quality investments for higher-income jobs, as well as accelerating integrated infrastructure developments to support economic diversification and new opportunities. “We will also capitalise on Malaysia’s chairmanship of ASEAN 2025 to lead the economic bloc into a unified economic order that thrives on cooperation and engenders a mutually beneficial outcome for the region,” he added. According to Moody’s, Malaysia will “be the fastest growing A-rated economy over the next two years” and the country’s medium-term growth prospects remain buoyant. The rating agency cited structural credit strengths, including a well-diversified economic structure, competitiveness, and broad price stability, as among the factors that bulwark consumption, complemented by deep domestic capital markets and a sophisticated financial system. Moody’s recognises the broad political support has provided headroom to the government to implement substantial structural and institutional reforms, as well as the enactment of the Public Finance and Fiscal Responsibility Act 2023, among other legislation. In this regard, the government remains committed to improve public finance by amplifying efforts on revenue enhancement and subsidy rationalisation, the MoF said. With advanced estimates for the fourth quarter 2024 gross domestic product (GDP) at 4.8 per cent, Malaysia is on track to achieve its economic growth target of 4.8 to 5.3 per cent, it said. The government is optimistic that growth will remain robust in 2025 at between 4.5 and 5.5 per cent. Meanwhile, fiscal consolidation efforts will further narrow the deficit -- expected at 4.3 per cent of GDP in 2024 -- to 3.8 per cent in 2025, gradually aligning to the fiscal target under the Public Finance and Fiscal Responsibility Act 2023, the ministry said.
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U Mobile to double its retail footprint across Malaysia within two years (ven, 24 gen 2025)
BANDAR SUNWAY: U Mobile, Malaysia’s future second 5G network provider, aims to double its retail footprint across the country within the next two years. Chief Marketing Officer Navin Manian said the expansion is in line with the company’s efforts to meet the growing demand in its postpaid, broadband, and enterprise segments. “We are expanding aggressively to enhance customer experiences and meet the needs of our growing postpaid, broadband, and enterprise segments,” he told reporters at the launch of its newest flagship store at Sunway Pyramid Shopping Mall here today. Navin explained U Mobile has historically focused on youth and prepaid customers which required a different sales approach. “Over the last two to three years, we’ve shifted focus to postpaid, broadband, and enterprise services. To support that, we believe we need our own fully-operated stores,” he said. He added U Mobile has recently opened new stores in IOI Mall, Kota Kinabalu, and Kuching, with plans for further expansions in the East Coast and other regions. “So this year it is going to be a continuous focus, what we want to do is have a proper good retail footprint across Malaysia, so a lot more stores will be open, so watch out for that,” Navin said. Currently U Mobile operates 14 stores including two flagship locations in Sunway Pyramid following the one in Berjaya Times Square, Kuala Lumpur. The new flagship store in Sunway Pyramid, spanning 3,500 square feet, features immersive retail experiences that leverage next generation technologies such as 5G and Al into the shopping journey. It also utilises Smart Retail functions like Digital Price Tags and AI-powered CCTVs with smart security functions. Another key highlight is that it also features Malaysia’s first in-store immersive dome, a high-tech initiative that uses high-quality video, audio systems, VR, AR, and mixed reality to create a shared, immersive experience for any visitor to the store to enjoy for free. U Mobile believes it has made the right choice with making Sunway Pyramid Shopping Mall the location of its second flagship as the mall attracts many families, a target segment that the company is rapidly growing. The latest retail initiative is also part of the company’s overall strategy to expand its reach to provide a more elevated customer experience. “U Mobile is always seeking to raise the bar, and in line with our unbeatable ethos, we are committed to elevating our customers’ experience by bringing innovative and immersive retail features, coupled with our best-in-class products and services, even closer to our customers. “Our newest flagship store at Sunway Pyramid Shopping Mall showcases a tech-enabled experience, one that blends real life with next-gen digital technologies. From Smart Retail functions like Digital Price Tags and AI-powered CCTVs to immersive attractions like our in-store dome, this flagship store is an intelligent space for consumers to truly interact with the U Mobile brand,” said Navin. Other highlights of U Mobile’s newest flagship store in Sunway Pyramid Mall include: HoloBox: A self-contained unit employing holographic projection technology to provide a twist to the typical in-store Queue Management System, as customers are able to interact with the holographic avatar of Stacy Anam, U Mobile’s brand ambassador, for service. The HoloBox also serves as a photo booth, allowing visitors to capture a photo. An AI-generated image of them is then projected in real time onto the Immersive Dome, creating a unique and interactive experience. U Home Zone: As part of U Mobile’s growing focus on families, the zone showcases a Smart Home concept and highlights the key benefits of its family-centric plans like U Family 128 and U Home 5G bundles. U Business Corner: As part of U Mobile’s commitment to enterprise digitalisation, this zone will showcase interesting business solutions that leverage 5G and other technologies. Lifestyle Zone: Featuring VR Gaming for all-ages enjoyment as well as a showcase of U Mobile’s exclusive premiums and collaborations. To celebrate the grand opening, U Mobile is offering prizes and promotions worth up to RM800,000 from Jan 24 to 26, 2025. Prizes include 5G smartphones, Sunway Resort staycations, and hoodies from an exclusive collaboration between U Mobile and Pestle and Mortar Clothing. The first 88 visitors each day can purchase a Huawei GT Cyber Watch for just RM0.99, available on a first-come, first-served basis starting from 11am and exclusively for U Postpaid 68 or U Postpaid 98 customers. Additionally, new U Family 128 sign-ups and all walk-in visitors can participate in a lucky draw. For more information, visit https://www.u.com.my/en/personal/grand-opening.
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Mitsubishi Motors shares plunge on Nissan-Honda merger report (ven, 24 gen 2025)
TOKYO: Shares in Japanese automaker Mitsubishi Motors plunged nearly nine percent Friday after a report said it might not join a planned merger between industry giants Honda and Nissan. Honda and its struggling rival Nissan agreed last month to launch talks on the tie-up, which is seen as an attempt to catch up with Chinese rivals and Tesla on electric vehicles. The two firms, along with Mitsubishi Motors, said they had signed a memorandum of understanding to start discussions on integrating their businesses under a new holding company. Japan's Yomiuri daily said Friday that the smaller automaker was considering not taking part -- sending its shares plummeting as much as 8.7 percent in morning trade before paring the losses in the afternoon to sit six percent lower. ALSO READ: Honda and Nissan reportedly in merger talks Honda was down more than one percent, while Nissan slipped 3.5 percent. With a much smaller market capitalisation than Honda and Nissan, Mitsubishi Motors is worried that being absorbed by the holding company could undermine its management autonomy, the Yomiuri said. Mitsubishi Motors is partly owned by Nissan. The automaker may seek to strengthen cooperation with the pair in areas such as electric vehicles instead, public broadcaster NHK said. The company said in a statement that “such information was not released by Mitsubishi Motors”, referring to Yomiuri’s original report. “At this moment, we are studying various options, and no conclusion has been reached,“ it added. ALSO READ: Nissan announces 9,000 job cuts, slashes sales forecast The merger between Honda and Nissan would create the world's third-largest automaker, expanding development of EVs and self-driving tech. China overtook Japan as the biggest vehicle exporter in 2023, helped by government support for EVs. Honda and Nissan -- Japan's number two and three automakers after Toyota -- already agreed to explore a strategic partnership on software and components for EVs among other technologies. This partnership was joined by Mitsubishi Motors in August.
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BOJ raises interest rates to highest in 17 years (ven, 24 gen 2025)
TOKYO: The Bank of Japan raised interest rates on Friday to their highest since the 2008 global financial crisis, underscoring its confidence that rising wages will keep inflation stably around its 2% target. The decision marks its first rate hike since July last year and comes days after the inauguration of U.S. President Donald Trump, who is likely to keep policymakers vigilant ahead of potential repercussions from threatened higher tariffs. At its two-day meeting concluding on Friday, the BOJ raised its short-term policy rate from 0.25% to 0.5% - a level Japan has not seen in 17 years. It was made in a 8-1 vote with board member Toyoaki Nakamura dissenting. The move underscores the central bank's resolve to steadily push up interest rates to around 1% - a level analysts see as neither cooling nor overheating Japan's economy. ALSO READ: Japan government to approve $140 billion stimulus “The likelihood of achieving the BOJ's outlook has been rising,“ with many firms saying they will continue to raise wages steadily in this year’s annual wage negotiations, the central bank said in a statement announcing the decision. “Underlying inflation is heightening towards the BOJ's 2% target,“ the central bank said, adding that financial markets remain stable as a whole. The BOJ made no change to its guidance on future policy, saying that it will continue to raise interest rates if its economic and price forecasts are realized. “Their logic remains the same. They are still far away from neutral, so it’s natural to make an adjustment. It’s not necessarily a tightening, rather a lesser easing, in a sense,“ said Naka Matsuzawa, chief macro strategist at Nomura Securities. “Unless the BOJ either changes the logic of rate hikes, or even raises the neutral point, which they have been mulling - about 1% - there’s not going to much room for the market to price in further hikes in the future.” ALSO READ: Japan’s yen hits 34-year low after BOJ holds interest rates The dollar fell 0.35% against the yen at 155.51 after the decision, while the two-year Japanese government bond (JGB) yield rose to 0.705%, the highest since October 2008. Attention now shifts to any clues from BOJ Governor Kazuo Ueda in his post-meeting briefing at 0630 GMT on the pace and timing of further increases. In a quarterly outlook report, the board raised its price forecasts on growing prospects that broadening wage gains will keep Japan on track to sustainably hit the central bank's inflation target. The board now projects core consumer inflation to hit 2.4% in fiscal 2025 before slowing to 2.0% in 2026. In the previous projection made in October, it expected inflation to hit 1.9% in both fiscal 2025 and 2026. It made no change to its forecasts that Japan's economy will grow 1.1% in fiscal 2025 and 1.0% in 2026. ALSO READ: Japan economy suffers worse-than-expected contraction of 0.5% Japan's core consumer inflation accelerated to the fastest annual pace in 16 months in December, data showed on Friday, in a sign rising fuel and food prices continue to push up living costs for households. After taking the helm in April 2023, Ueda dismantled his predecessor's radical stimulus programme in March last year, and pushed up short-term interest rates to 0.25% in July. BOJ policymakers have repeatedly said the central bank will keep raising rates, if Japan makes progress in achieving a cycle in which rising inflation boosts wages and lifts consumption - thereby allowing firms to continue passing on higher costs.
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Ringgit opens higher against greenback Amid cautious sentiment (ven, 24 gen 2025)
KUALA LUMPUR: The ringgit opened higher against the US dollar as investors remained cautious due to higher-than-expected inflation and ahead of global central bank policy updates. At 8 am, the ringgit rose to 4.4320/4480 against the greenback compared to yesterday’s closing rate of 4.4420/4465. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the general tone for the US Dollar Index (DXY) was softer amid the initial jobless claims last week which rose to 223,000 against consensus estimates of 221,000. “Clear preference for interest rate cut by US President Donald Trump during his address at the World Economic Forum (WEF) was unsurprising. “This should make the US Federal Reserve (Fed) task much more palatable as the US central bank has already enacted monetary easing since September last year. It’s a question of timing and the degree of the rate cuts,“ he told Bernama. Hence, Mohd Afzanizam believes that traders and investors will remain cautious, and he expects the US dollar against the ringgit to hover around RM4.44 to RM4.45 today. At the opening, the ringgit traded mostly higher against other major currencies. It edged higher against the Japanese yen to 2.8388/8495 from Thursday’s 2.8429/8461, appreciated against the euro to 4.6155/6321 from 4.6246/6293, but slid against the British pound to 5.4735/4933 from 5.4703/4759. Similarly, the local note also strengthened against ASEAN currencies. It rose against the Indonesian rupiah to 272.1/273.2 from 272.7/273.1 yesterday, strengthened against the Philippine peso to 7.55/7.58 from 7.57/7.58, edged up against the Thai baht to 13.0250/0835 from 13.0582/0779, and inched higher against the Singapore dollar to 3.2648/2776 from 3.2734/2770.
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Malaysian market entering upcycle, says Knight Frank (ven, 24 gen 2025)
KUALA LUMPUR: Malaysia’s property market is entering an upcycle on the back of stable government as well as the Asean chairmanship, according to Knight Frank. Knight Frank executive director of research and consultancy Amy Wong said 2025 is expected to be a “good year” for the property sector. “Malaysia currently has all its chess pieces in place. We have a stable government, a prime minister people recognise, and a group of ministers driving foreign investments. Our strategic location in Southeast Asia remains a key advantage, and with the Asean chairmanship, we are showcasing Malaysia as ready and open for business,” she told the media at the 18th Bursa-HLIB Stratum focus series titled “Property sector: Entering a new cycle” recently. Wong said Malaysia is positioned as one of the most attractive markets in the region outside Singapore. “Singapore is often compared to global financial hubs such as Hong Kong and Tokyo. But within the rest of Southeast Asia, Malaysia is very well-placed,” Wong said. She emphasized the country’s strategic advantages, including its relative safety from natural disasters as it lies outside the Pacific Ring of Fire. “We have everything going for us, and we’re actively sharing this story with the world,” she added. “With these factors in place, I believe 2025 will be a positive year for the property market,” Wong remarked. She identified industrial property as a sector likely to see continued growth on the back of government policies encouraging foreign direct investments (FDI). “FDIs drive the economy through manufacturing plants and multinational corporations setting up operations here. “Key areas benefiting from this include the Klang Valley, Johor with its strong port connectivity to Singapore, and the electronics hub in Penang and Kedah,” she said. Wong also addressed the impact of US restrictions on AI chips that could slightly temper the rapid growth of data centres but not derail their upward trajectory. “The demand for data centres stems from increasing cloud computing needs, daily internet usage, and essential services like banking and e-commerce. While Trump tariffs may slow the spike, the overall trend remains positive,” she said.
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DWSB hopes to wrap up sales of TuJu Residences by year-end (ven, 24 gen 2025)
KUALA LUMPUR: Distinctive World Sdn Bhd (DWSB), the property developer behind the TuJu Residences project, aims to achieve a sales rate of approximately 75% to 80% by the first half of 2025. Executive director and CEO Lim Ech Chan said looking further ahead, the company anticipates wrapping up its sales activities for the development by the end of 2025. “Our goal is to complete sales by the close of that year,” he told SunBiz. Commenting on pricing strategies, Lim said, “As we continue selling, we periodically adjust prices upwards. Buyers who come in later may face higher prices.” Lim also shared its ambition to move the majority of remaining units by the end of the current year, reflecting a confident outlook on market demand for TuJu Residences. With prices from RM440,000 and above, TuJu Residences offers strategic connectivity near Mont Kiara and Mitec, tapping into strong rental demand from business professionals and event attendees. Aligned with the PTKL 2040 vision for Segambut, it combines affordability, sustainability, and access to highways and MRT, promising good rental yields and long-term growth potential. With a GDV of RM750 million, TuJu Residences reflects a significant investment for many Malaysians. TuJu Residences offers 10 distinct layouts ranging from 710 sq ft to 1,442 sq ft, catering to single professionals and multi-generational families alike. Its low-density design includes separate lift lobbies for each tower and a wellness-centric theme with over 50 recreational amenities. The development stands out for its sustainable design, practical layouts, and exclusive facilities, making it a compelling choice for both buyers and investors. Executive director Monica Lai said with the success of TuJu Residences, DWSB is exploring future projects aligned with the Pelan Pembangunan Kuala Lumpur (PTKL) 2040, which envisions Segambut as a wellness-centric, sustainable urban district. “Our commitment remains focused on innovative, community-oriented developments that drive this transformation. “Building on TuJu Residences’ achievements, our plans include Parcel 2, a proposed project at the current sales gallery site, designed to complement TuJu’s modern, sustainable living concept. “While Segambut remains a key growth area, we are also evaluating opportunities in other strategic locations across Greater Kuala Lumpur to expand our impact,” she said. Lai said TuJu Residences appeals to a diverse demographic, driven by demand for flexible, modern housing solutions. She said local buyers, particularly young professionals and families, are drawn to its affordable pricing, versatile layouts, and wellness-focused amenities. Multi-generational households appreciate the range of unit sizes, from 710 sq ft to 1,442 sq ft, designed to meet evolving family needs. “Foreign interest primarily comes from Singapore, China, Taiwan, Hong Kong, Japan, Indonesia, and Myanmar, attracted by its strategic location, competitive pricing, and capital appreciation potential. “Young families and professionals dominate demand, valuing its blend of affordability, accessibility, and community-centric design, making it a standout in Kuala Lumpur’s dynamic property market,” Lai said. She said TuJu Residences embraces a wellness-centric concept, addressing the growing demand for homes that prioritise health, sustainability, and well-being. “With green living features, thoughtfully designed recreational spaces, and layouts suited for multi-generational living, it offers a seamless blend of comfort and functionality. “Positioned at the forefront of Segambut’s transformation into the envisioned North Kiara township, the development reflects the area’s rejuvenation under the Kuala Lumpur Structure Plan 2040, driven by key players such as Tan Chong and Genting Bhd,” she said.
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Penang-based Iconic Marjorie Hotel sets sights on MICE market (ven, 24 gen 2025)
KUALA LUMPUR: Iconic Worldwide Bhd’s newly launched Iconic Marjorie Hotel in Bayan Lepas, Penang, is strategically situated to capitalise on the state’s dynamic meetings, incentives, conferences and exhibitions (MICE) sector, as well as the growing business and leisure, or bleisure, travel market. Group general manager Kevin Cheah said Iconic Marjorie Hotel, which is part of Marriott International under the Tribute Portfolio brand, aims to increase its occupancy rate from the current 20% to 60% by the end of this year and above 80% by next year. The projection would be boosted by Marriott Bonvoy, one of the biggest hotel loyalty programmes for travellers, with access to rewards at over 7,000 hotels worldwide. Elaborating on the Asia-Pacific travel market and Malaysia’s position in terms of tourism and visitor arrivals, Cheah said the country is seeing steady progress, particularly in Penang, where new direct flights are being added almost every month, primarily from China and India. This increase in connectivity plays a crucial role in boosting tourism, he added. “As we prepare for Visit Malaysia Year 2026, enhanced air connectivity is exactly what Penang needs, as direct international flights significantly reduce travel time and eliminate the inconvenience of transiting through cities like Kuala Lumpur, Singapore, or Bangkok. “By flying directly to Penang, travellers enjoy greater convenience, which directly supports the growth of the tourism sector.” Asked about potential improvements, Cheah said increasing the number of direct flights to Penang from key international destinations will be instrumental in driving further growth in both travel and tourism. “Over the past two years, the government has opened up visa policies for China and India, and we have seen a tremendous increase in tourist arrivals from these countries. However, competition is fierce, with neighbouring countries like Indonesia and Thailand implementing similar measures. “From a traveller’s perspective, streamlined visa processes significantly enhance the convenience and make Malaysia a more attractive destination. “For China, we have tailored our promotional materials and social media content in Chinese, beyond just English. We actively engage with Chinese bloggers and influencers to create livestreams and blogs that showcase our offerings. Additionally, we collaborate with online travel agencies like Trip.com, which specialises in the Chinese market, to broaden our reach and visibility,” Cheah told SunBiz. Iconic Marjorie Hotel, which was developed with an investment of RM180 million, is the second hotel project by the Iconic Group, a renowned Penang-based real estate developer. The Iconic Group’s first hotel, the 195-room Iconic Hotel in Seberang Perai, Penang, opened in 2016. Iconic Marjorie Hotel is situated next to Iconic Regency, a newly launched freehold serviced residence comprising 268 units developed by the Iconic Group. Both properties are strategically located in Sungai Nibong, a prime commercial district within Bayan Lepas. The area is widely recognised as the “Silicon Valley of the East” due to its concentration of global technology giants and industrial prominence. Notably, Iconic Marjorie Hotel is the first hotel in Penang to achieve the prestigious Gold standard within the globally recognised Green Building Index rating system, which promotes sustainability in the built environment. By integrating energy-efficient features, utilising sustainable building materials and resources, and embracing design innovation, the hotel will establish a new standard for environmentally conscious hospitality in Penang. This will reflect the Iconic Group’s dedication to environmental, social, and governance principles and sustainable real estate development. In addition to accommodation, Cheah said, Iconic Marjorie Hotel offers extensive facilities and actively targets the MICE market. “Our pillarless ballroom accommodates up to 800 guests, making it one of the largest in Penang. We also have six additional function rooms, which can accommodate groups of 20 to 400 attendees and allow us to host a wide range of events and conferences. “To strengthen our MICE business, we have a dedicated team member focused on MICE marketing, working closely with key partners such as the Penang State Art Gallery and Convention Bureau, the Malaysian Tourism Board and Penang Global Tourism. “Our strategic location near the Spice Arena positions us well to benefit from the large exhibitions held there throughout the year. With modern facilities that meet and often exceed local standards, our ballroom and event spaces offer a significant competitive advantage in attracting high-profile MICE events,” Cheah said.
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Oriental Kopi makes strong debut on ACE Market (gio, 23 gen 2025)
KUALA LUMPUR: Food and beverage (F&B) services cafe chain operator, Oriental Kopi Holdings Berhad, yesterday debuted on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities). At the opening bell, the share price of Oriental Kopi opened at 75 sen, representing a premium of 70.5% over the issue price of 44 sen, with an opening volume of 65,584,700 shares. This strong market debut comes on the heels of an initial public offering (IPO) oversubscription of approximately 60.0 times, underscoring the high level of confidence in Oriental Kopi’s business operations and growth prospects. Oriental Kopi, through its subsidiaries, is primarily engaged in cafe chain operations, alongside the distribution and retail of its brands of packaged foods. The Group’s cafe chain operates under the Oriental Kopi brand, offering food & beverages (F&B) services and in-store sales of its brand of packaged food. With its first cafe established in December 2020, Oriental Kopi has swiftly expanded its presence, operating 19 owned-and-operated Oriental Kopi cafes across Malaysia. Through a joint venture arrangement with Paradise Group Holdings Pte Ltd, the Group has recently commenced its first oversea cafe in Singapore’s vibrant Bugis Junction. In addition to its cafe operations, the Group manages a specialty retail store located in St. Giles Southkey Hotel, Johor. The Group’s cafes are strategically situated in high-traffic areas, including shopping malls, shop lots, and Kuala Lumpur International Airport 2’s retail mall. Managing director Datuk Chan Jian Chern said: “Today marks a defining moment for Oriental Kopi as we embark on an exciting new chapter as a publicly listed company. “Over the past four years, our team’s dedication, hard work, and passion have propelled us to achieve this remarkable milestone. With the proceeds from our IPO, we are strategically positioned to accelerate our growth and seize new opportunities in the F&B industry.” He added that their IPO plans include establishing a new head office, central kitchen, and warehouse (new operational facility) in Selangor, spanning approximately 108,448 square feet. “This facility will enable us to centralise our management functions, streamline our F&B operations, and enhance storage and distribution efficiency. “To support this initiative, RM53.7 million (29.2%) of the total RM184.0 million IPO proceeds, has been allocated for the new operational facility. “This will facilitate the continuous expansion of our cafe chain across Malaysia, the growth of our packaged foods segment, and the implementation of strategic marketing initiatives to strengthen our presence in international markets,” he added. The remaining IPO proceeds, he said will be allocated as follows: RM75.8 million (41.2%) to supplement their working capital requirements, RM36.4 million (19.8%) for the expansion of their cafe chain across Malaysia, RM5.0 million (2.7%) for the growth of their packaged foods segment, RM5.5 million (3.0%) for marketing activities in international markets, and RM7.6 million (4.1%) to cover their listing expenses. On the financial front, Oriental Kopi’s revenue grew from RM5.0 million in the financial year ended Sept 30, 2021 (FY2021) to RM277.3 million in the financial year ended Sept 30, 2024 (FY2024), representing a 3-year compound annual growth rate (CAGR) of approximately 280.9%. Meanwhile, profit after tax (net profit) improved significantly, transitioning from a loss after tax of RM0.5 million to a net profit of RM43.1 million over the same period. Looking ahead, Chan said they are well-positioned to capture the growth potential presented by economic expansion, rising household spending, and increasing tourism. Alliance Islamic Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Placement Agent for the IPO exercise.
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Constructing Malaysia’s digital backbone (gio, 23 gen 2025)
DATA centres are playing a pivotal role in Malaysia’s digital transformation, driving the growth of cloud services, big data, artificial intelligence (AI), and the broader digital economy. As businesses, governments, and institutions across the country increasingly rely on digital platforms, the demand for robust and resilient data centers continues to soar. Private sector investments, such as Google’s $2 billion data center in Elmina and Oracle’s $6.5 billion public cloud region, have been instrumental in positioning Malaysia as a regional digital hub. Complementing these efforts, the Malaysian government is focused on enhancing infrastructure, offering regulatory support, and pushing sustainability goals, including achieving net-zero emissions by 2050. This public-private synergy has positioned Malaysia as the fastest-growing data centre market in the Asia Pacific region in 2024. Furthermore, Malaysia has approved RM114.7 billion (US$ 25.6 billion) in investments related to data centres and cloud services between 2021 and 2023, underscoring the government’s commitment to strengthening the country’s digital infrastructure. With the expanding demand for digital services, resilient and sustainable data center infrastructure is more critical than ever. Data centers must be designed to tackle operational challenges, including environmental stressors, rising energy consumption, and the need for scalability. Modern construction solutions for data centers encompass a range of advanced technologies, such as waterproofing systems that prevent moisture penetration, fire-resistant materials that safeguard against structural damage, and energy-efficient roofing systems that help regulate internal temperatures. These innovations ensure that facilities are protected from external elements while optimising energy use. Data centres in Malaysia must be built to withstand both natural and man-made challenges. As critical infrastructure, these facilities require the highest levels of protection to ensure operational continuity. Malaysia’s tropical climate presents unique challenges for maintaining optimal temperatures in data centres. With servers running continuously and generating heat, cooling systems are vital to operational efficiency. Traditional cooling methods are often energy-intensive, which is why passive cooling techniques combined with energy-efficient insulation materials are increasingly being adopted. These solutions help reduce the overall energy burden while managing heat effectively. By using advanced insulation technologies, data centers can reduce the demand for energy-heavy cooling systems, thus aligning with global sustainability goals while cutting operational costs. Sustainability is now a central focus in data centre construction, and it extends far beyond just using eco-friendly materials. Sustainable practices must be integrated across the entire lifecycle of a data centre, from product selection and concrete production to construction and eventual decommissioning. By incorporating low-emission materials and resource-efficient practices at each stage, data centres can significantly reduce their environmental impact. The use of energy-efficient roofing, water management systems, and renewable energy sources are also integral in reducing CO₂ emissions. These practices align with Malaysia’s broader goal of achieving net-zero emissions by 2050 and contribute to a more sustainable digital infrastructure that operates efficiently without compromising environmental responsibility. The development of Malaysia’s data centre infrastructure has seen robust support from industry leaders. Companies like Sika Malaysia have played a pivotal role in offering specialised construction solutions that meet the unique demands of data centres, particularly in areas of durability, efficiency, and sustainability. Sika’s advanced waterproofing, roofing, and flooring systems are crucial in ensuring operational continuity and protecting against external environmental factors. These solutions underscore the importance of industry collaboration in building resilient, energy-efficient data centers that align with global sustainability goals. As Malaysia continues to establish itself as a key player in the digital economy, the construction of resilient and sustainable data centres will remain paramount. Innovation in materials and construction practices will be key to the future of data centers, especially as sustainability becomes a top priority across all industries. The construction sector must continue to innovate, developing solutions that ensure long-term durability while maintaining energy efficiency. Collaboration between construction professionals and technology providers will be essential in achieving the balance needed between operational resilience and environmental sustainability. By focusing on advanced construction techniques, sustainable practices, and scalable designs, Malaysia is well-positioned to continue its growth as a digital hub in the Asia Pacific region. Through ongoing investment in these areas, the country can build future-proof data centers that not only meet current technological needs but also contribute to a robust, environmentally sustainable digital economy. This article is contributed by Sika Malaysia general manager Francisco Retondo (pic).
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Aneka Jaringan posts 35% growth in income in Q1’25 (gio, 23 gen 2025)
KUALA LUMPUR: Aneka Jaringan Holdings Bhd, a basement and foundation construction specialist, recorded a solid financial performance for the first quarter ended Nov 30, 2024 (Q1’25). The group achieved a revenue of RM79.47 million, marking an increase of 35.19% from RM58.78 million in the same period last year (Q1’24). Profitability of the group has also seen a notable improvement, with profit after tax (PAT) rising to RM2.33 million, up from RM1.39 million in Q1’24, demonstrating a 68.52% increase. The group’s other income for Q1’25 amounted to RM1.90 million. The group also managed administrative expenses of RM3.23 million and financing costs of RM0.93 million during the period. Additionally, tax expenses for the quarter were RM0.14 million, predominantly associated with the group’s Indonesian operations through PT. Aneka Jaringan Indonesia and PT. Aneka Jaringan Energy. Aneka Jaringan managing director Pang Tse Fui said, “Our excellent start to FY25 is a testament to our strategic focus on core competencies and our ability to adapt to market demands. The successful execution of our projects and the securing of new contracts have positioned us well for sustained growth. We are optimistic about the continued growth of the construction sector and our place within it.” The group’s order book of RM217.43 million as at Q1’25 is supported by the newly secured projects worth RM55.99 million. Looking ahead, the group remains cautiously optimistic.
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Infomina: First-half FY25 ‘satisfactory’ (gio, 23 gen 2025)
KUALA LUMPUR: Infomina Bhd, a regional technology solutions provider, recorded revenue of RM46.6 million and a profit before tax (PBT) of RM9.5 million for its second quarter financial results for the financial year ending May 31, 2025 (Q2’25). However, group revenue was lower compared to RM59.7 million recorded in the same quarter last year (Q2’24). The decline was mainly due to lower revenue contribution from the design and delivery of technology infrastructure solutions segment as there was higher delivery of hardware to customers in the corresponding quarter of FY24. Group PBT came in at RM9.5 million, compared to RM11.4 million in Q2’24 due to lower revenue contribution from the design and delivery of technology infrastructure solutions segment as stated above. For the 6-month period ended Nov 30, 2024 (1H’25), the group reported a revenue of RM92.8 million and a PBT of RM19.1 million. Revenue was lower compared to RM115.9 million recorded in the corresponding period of last year (1H’24), primarily due to lower revenue contribution from the design and delivery of technology infrastructure solutions segment. Group’s PBT declined 5.2% against the corresponding period of FY24, due to the decrease in revenue contribution from the design and delivery of technology infrastructure solutions segment. Nonetheless, overall gross profit margin improved significantly to 30.8% in Q2’25 from 24% a year ago. As at Nov 30, 2024, the group’s balance sheet remained healthy, sporting a net cash position of RM68.8 million whilst the current ratio stood at a healthy 2.5x. Total borrowings amounted to RM12.2 million against shareholders’ funds of RM153.8 million. Infomina managing director Yee Chee Meng said, “We consider the financial performance for the first half of FY25 to be satisfactory. Although revenue for 1H’25 came in lower at RM92.8 million, our profit after tax and minority interest remained largely unchanged at RM16.1 million compared to RM16.2 million in 1H’24. This was primarily supported by improved overall profit margin in both our design and delivery of technology infrastructure solutions and technology infrastructure operations, maintenance, and support services segments during the period under review.” He added the group remains focused on completing ongoing projects, renewing customer contracts, and leveraging collaborations with strategic business partners to strengthen their order book. During the quarter, he said the group successfully renewed regional contracts in the Philippines, Thailand, Hong Kong, and Taiwan, securing contributions for the next three to five years. Additionally, he disclosed on Jan 6, 2025 the group secured a new three-year contract worth RM22.4 million from Malaysia’s Road Transport Department for the Automated Awareness Safety System project. A week later, the group secured another two-year contract worth RM13 million from PCCW Solutions Ltd (PCCW), the IT flagship of the PCCW Ltd group of companies, a multi-billion US dollar market capitalisation entity in Hong Kong, to provide the services to Hong Kong Telecommunications Ltd. “We are proud to announce that we have successfully secured more than RM160 million in new contracts financial year-to-date, reflecting our commitment to excellence and growth. These achievements highlight the trust our clients place in us and our continued efforts to deliver exceptional value,” said Yee. Since launching operations in Japan in April 2024, the group has made significant progress, acquiring new customers contributing to the order book. Looking ahead, the group is committed to expanding its presence in North Asia, particularly in Japan, to capitalise on growth opportunities in this emerging market.
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Global mindset, open policies make Malaysia attractive amid US-China trade tensions: SME association (gio, 23 gen 2025)
KUALA LUMPUR: Malaysia’s globalised mindset and open trade policies make it attractive despite the challenges posed by US tariffs, said SME Association of Malaysia national president Chin Chee Seong. He said Malaysia is particularly attractive to Chinese companies because it aligns with China’s need to diversify its trade partnerships in the face of ongoing US-China trade tensions. “Malaysia embraces a free trade policy, making it easy for everyone to enter. On the manufacturing side, we’re seeing better engagement from the Chinese. They’ve discovered that the best place for them in Southeast Asia is Malaysia. In fact, Kuala Lumpur, and even other smaller cities, can become hubs for them,” he told reporters at the Malaysian SME Resilience and Growth 2025 Conference today. Chin also said Malaysian SMEs could benefit from expanding into markets such as BRICS but more government support is needed to help them. “The government needs to help us to open up other markets, like BRICS and allocate more funds for promotion. It’s a long journey to enter these countries.” He shared that some companies with several hundred staff have reduced their workforce by almost 30%. “They cut back and shifted their sales focus to markets like Japan, Taiwan, the Asia-Pacific, and even Indonesia. Because of that they’re still surviving.” Looking ahead, Chin said the next six months will be challenging for Malaysian SMEs due to high operating costs, inflation, multi-tier levies, e-invoicing, and electricity tariff hikes. “Growth for SMEs is expected to be in the single digits this year. If you’re talking about GDP growth, it’s not growing.” Chin highlighted fierce competition, particularly from low-cost alternatives in China and India’s IT services industry. “Exports have been slow for many years, and the cost of living has increased. People don’t have money. When people don’t have money, they spend less. They might still buy, but not as much as before. So, the rising costs affect consumer spending, which in turn, affects SMEs.”
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Local businesses must upskill and reskill workforce to meet demands of digital economy: Experts (ven, 24 gen 2025)
KUALA LUMPUR: Domestic businesses, particularly small and medium enterprises, are under increasing pressure to keep up with technological advancements as Malaysia transitions to a digital economy. The shift to automation, artificial intelligence and digitalisation is transforming industries like technology, healthcare, and manufacturing, driving demand for a more skilled workforce. However, a significant skills gap remains a major obstacle. According to TalentCorp, 60% of Malaysian companies face difficulties recruiting for critical roles in information technology, healthcare and technical fields. Deficiencies in both technical expertise and soft skills, such as communication and critical thinking, hinder workforce readiness. Malaysia HR Forum CEO Arulkumar Singaraveloo emphasised the need for businesses to prioritise upskilling and reskilling. “Technical knowledge alone is no longer enough. Adaptability, problem-solving, and digital literacy are now essential for workers to succeed in a rapidly evolving environment,” he told SunBiz. He noted that government initiatives such as Penjana HRDF’s Reskilling and Upskilling Programme, the Malaysia Tech Talent Development Programme and Industry4WRD offer valuable support. However, businesses must lead efforts to tailor these initiatives to industry-specific needs. Arulkumar also highlighted a disconnect between education and workforce demands. “Malaysia’s education system often lacks the practical and technical focus needed for immediate employability. Strengthening technical and vocational education and training and integrating internships into curricula can help bridge this gap,” he said. Partnerships between manpower companies, private-sector organisations, and educational institutions are crucial. Structured apprenticeships and on-the-job training can equip graduates with hands-on experience and address current skill shortages. Arulkumar said preparing the future workforce requires a multi-stakeholder approach. Employees must embrace lifelong learning to remain competitive, and public-private partnerships and talent development incentives are vital for sustainable growth. Studies show that companies prioritising digitalisation and automation can boost productivity by up to 30%. Arulkumar said sectors such as renewable energy, e-commerce and cybersecurity offer significant growth potential. Businesses investing in workforce development will be better positioned to fill emerging roles and remain globally competitive, he said. “Malaysia stands at a crossroads. Prioritising upskilling today will unlock workforce potential, drive innovation, and secure a prosperous digital future. The time to act is now.” Aisling Group founder and managing director Melissa Norman said human resource (HR) departments should engage in continuous dialogue with government bodies, industry leaders, and educational institutions to ensure that the skills being developed are relevant to the current and future needs of the industry. “HR practitioners should also stay abreast of policy changes and industry trends to anticipate and respond to shifts in the labour market effectively,” she said. In tackling technological advancements, Melissa said, it is imperative for HR practitioners and businesses to prioritise upskilling and reskilling initiatives for older employees. “Employers should remain open to adopting a flexible and inclusive approach that caters to the diverse needs of their employees. One crucial initial measure is to conduct regular skills assessments to identify areas where older employees may benefit from upskilling opportunities. “By understanding their strengths and areas for improvement, businesses can tailor upskilling programmes to meet the specific needs of older workers, enabling them to thrive in their roles and further contribute to the organisation,” she said. Upskilling initiatives for older employees are paramount in the modern workplace as workforce demographics shift and retirement ages rise, Melissa stressed. Businesses must prioritise measures such as skills assessments, personalised development plans, technology training while fostering a culture of continuous learning to ensure the professional growth and development of older workers. “By investing in the skills and capabilities of their ageing workforce, businesses can unlock their full potential and drive sustainable growth and innovation in the years to come,” she said.
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Malaysian SMEs urged to tap into halal sector in Uzbekistan (gio, 23 gen 2025)
KUALA LUMPUR: Malaysia’s small and medium-sized enterprises are urged to tap into Uzbekistan’s halal sector, which serves a population of over 30 million, 96.1% of whom are Muslim, according to Deputy Entrepreneur Development and Cooperatives Minister Datuk Seri Ramanan Ramakrishnan. Ramanan highlighted opportunities in Uzbekistan’s halal sector including cosmetics, pharmaceuticals, food and tourism following a recent meeting with the country’s deputy minister of economy and finance. “They have 400,000 SMEs in Uzbekistan compared to 1.1 million SMEs in Malaysia. But the important thing we have to take from there is that they have 96.1% of Muslims. It’s an Islamic nation. We can take advantage of that. It is a very, very big opportunity,” he told reporters at Malaysian SME Resilience and Growth Conference 2025 today. Ramanan stressed that Malaysian SMEs must consider the importance of environmental, social and governance (ESG) factors, as well as sustainable development goals in order to succeed in international markets. “The opportunity is there, but we must seize it. To do so, small and medium-sized enterprises must meet global standards. That’s why ESG is so important.” On the implementation of the minimum wage policy set to begin this month, Ramanan acknowledged that SMEs may not be fully prepared for the transition. “The readiness is moderate for now. Of course, they will never be ready. But this is a step to improve the GDP (gross domestic product) of the country and give opportunities to Malaysian workers to receive a salary that can enhance their daily lives,” he said. Ramanan said his ministry is providing assistance to ease the transition process for SMEs. “For example, SME Corp and National Entrepreneurship Institute have offered special training on how to manage finances, implement cost-cutting measures, and increase savings, among other forms of support.” The conference is jointly organised by the KSI Strategic Institute for Asia Pacific, the Economic Club of Kuala Lumpur and the SME Association of Malaysia as a platform to discuss strategies and solutions to enhance the resilience and sustainability of Malaysian SMEs. Its focus on sustainability and resilience comes at a critical juncture as SMEs, the backbone of Malaysia’s economy, grapple with challenges posed by global economic uncertainties, climate change, and digital disruption. With the SME sector comprising 97.4% of Malaysian businesses and contributing 37.4% to GDP, the need for sustainable transformation is not only essential but urgent. Ramanan said the global business environment has been reshaped by the ongoing strategic competition between major powers, primarily manifesting in regulatory and trade arenas. “The necessity to navigate these complexities has become a critical aspect of maintaining business resilience and pursuing growth in today’s interconnected world.” Companies, he added, are increasingly required to align with stringent global standards on sustainability, digital trade barriers, and corporate governance to stay competitive and responsible on the global stage. In facing the challenges of today’s world, Ramanan said, the country must come together with innovative solutions and adopt technology such as AI as drivers of entrepreneurial success. “All entrepreneurs need to embrace innovation to improve productivity, venture into new business models, and effectively address societal challenges.”
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Ringgit advances against US Dollar after BNM maintained OPR at 3.0% (gio, 23 gen 2025)
KUALA LUMPUR: The ringgit opened higher against the US dollar and other major currencies, buoyed by Bank Negara Malaysia’s (BNM) Monetary Policy Committee’s (MPC) announcement on the Overnight Policy Rate (OPR). At 8 am, the ringgit stood at 4.4335/4500 against the US dollar compared to yesterday’s closing rate of 4.4340/4400. The central bank maintained the OPR at 3.0 per cent during its meeting yesterday. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the prevailing monetary policy stance is supportive towards the country’s growth. “Judging from the BNM statement, it appears that the central bank is not in a hurry to make any adjustment to OPR compared to its counterparts in the Asian region where monetary easing had already begun,” he told Bernama. Mohd Afzanizam also noted that Malaysia’s inflation rate continues to decelerate to 1.7 per cent in December 2024 from a high of 2.0 per cent in July 2024, suggesting the monetary policy had been effective in containing the country’s inflation. On that note, he foresees that BNM is likely to keep the OPR steady throughout 2025 and it is expected to improve the value of the ringgit. “As such, the ringgit should remain well supported in the near term but intermittently, some profit-taking activities would occur given the ringgit’s steep appreciation against the US dollar since Jan 13, 2025 where the ringgit has appreciated by 1.7 per cent,” he noted. Meanwhile, the US Dollar Index (DXY) inched up to 108.219 points from 108.062 points previously as the market continues to focus on US President Donald Trump’s policy announcement. “The most recent one was the announcement of Project Stargate which is the private sector-led project that focuses on investing in the artificial intelligence (AI) infrastructure. “Technology related stocks as represented by Nasdaq jumped 1.3 per cent last night to 20,009.3 points, while the 10-year US Treasury yielded three basis points higher to 4.60 per cent,” he added. At the opening, the ringgit traded higher against major currencies. It rose against the euro to 4.6144/6316 from Wednesday’s close of 4.6313/6376, advanced against the British pound to 5.4590/4793 from 5.4822/4896, and edged higher against the Japanese yen to 2.8336/8445 from 2.8480/8522. The local note traded mixed against ASEAN currencies. It strengthened against the Thai baht to 13.0689/1249 from 13.1106/1345, and inched up against the Singapore dollar at 3.2710/2836 from 3.2781/2828. However, the local note traded almost flat against the Indonesian rupiah at 272.3/273.4 compared to 272.3/272.8, and against the Philippine peso at 7.58/7.61 versus Wednesday’s 7.58/7.59.
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New Investment Incentive Framework to be announced by middle of this year (mer, 22 gen 2025)
KUALA LUMPUR: The Ministry of Finance in collaboration with the Ministry of Investment, Trade and Industry and the Malaysian Investment Development Authority will announce the New Investment Incentive Framework (NIIF) by the middle of this year. Deputy Investment, Trade, and Industry Minister Liew Chin Tong said the NIIF builds on the National Investment Aspiration introduced in 2022. “This framework evaluates investments based on a six-point scorecard, focusing on factors like economic complexity, job creation, and wage growth. For instance, investments in less-developed states like Kelantan and Terengganu, or those prioritising environmental, social, and governance practices, will score higher,” he told reporters after officiating the opening of HSBC’s first wealth centre in Malaysia today. Liew said the framework will shift the focus from only attracting investment volumes to assessing their outcomes. “We aim to generate better economic results, such as higher wages and stronger local supply chains, rather than just counting the ringgit value of investments.” The government is also targeting foreign direct investments (FDI) that boost domestic direct investments (DDI), he said. “Of course, we want FDI. I mean, we welcome FDI, we welcome domestic investment, but we also want to stress that we want more FDI that will generate stronger DDI. For instance, we want to have investments that create a strong local supply chain,” Liew explained. As part of this shift, he said, the National Semiconductor Strategy sets goals, including developing 10 Malaysian semiconductor companies with annual revenues of US$1 billion (RM4.4 billion) each and another 100 companies with annual revenues of RM1 billion. “These are aspirations, difficult. We understand this is difficult, but this is an opportune time for us to pursue these lofty ideas to position Malaysia as a high-value investment destination,” Liew said. HSBC opened its flagship wealth centre in Malaysia at Menara IQ at the Tun Razak Exchange for HSBC’s Premier Elite and high-net-worth clients. HSBC said the opening aligns with the positive growth seen in Malaysia’s wealth market, as the country progresses towards achieving high-income status. According to estimates, the value of liquid assets held by high-net-worth individuals in Malaysia in 2024 stood at US$176.62 billion and will increase at a compound annual growth rate of 6.1% from 2024 to 2028. With Malaysia assuming the Asean chairmanship in 2025, the establishment of the flagship wealth centre also aligns with the region’s growing importance as a wealth producer, investment destination, and wealth management market, HSBC said. The centre was officially opened by Liew and witnessed by HSBC Bank Malaysia CEO Datuk Omar Siddiq and international wealth and premier banking country head Linda Yip. On the centre, Yip said Malaysia’s strong economic fundamentals provide a foundation for the growing wealth segment, which is important to the country’s aspirations to become a high-income nation. “Therefore, the timing is right for HSBC to open its flagship Wealth Centre in Malaysia.” Yip said HSBC sees increasing demand for more sophisticated and specialised wealth solutions to help customers navigate life’s journey and achieve their goals. HSBC also has wealth centres in mainland China, Hong Kong, Singapore, and Taiwan.
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Keyfield completes solar PV system on work barge (mer, 22 gen 2025)
KUALA LUMPUR: Keyfield International Bhd has completed its pilot solar photovoltaic (PV) project onboard its largest vessel Keyfield Wisdom (formerly known as Blooming Wisdom), a 500-men accommodation work barge. The project was undertaken in collaboration with Worldwide Holdings Bhd, the turnkey project contractor who is renowned for its expertise in energy efficiency and sustainability. Recently commissioned, the solar PV system involves the installation of a 121.2kWp solar hybrid system with battery energy storage system which reduces Keyfield Wisdom’s reliance on onboard generator sets, thereby reducing its fuel consumption and cutting carbon emissions. Malaysia Book of Records has also certified Keyfield Wisdom for having the most solar panels with battery storage onboard an offshore vessel. Keyfield’s Group chief operating officer and executive director Mohd Erwan Ahmad said, “We are extremely thrilled that this solar PV system is now fully completed and operational. It demonstrates our commitment to advancing sustainability within the maritime industry while representing a significant step forward in our group’s Environmental, Social and Governance journey. By adopting innovative solutions to greenify our assets within the space confines of our vessel(s), we aim to contribute to global climate action while continuously achieving long-term operational excellence.” He added that the solar PV project is part of their broader strategy to enhance energy efficiency in their operations. “We undertook this project at our own initiative as we understand that it aligns well with the sustainability agenda of our clients such as Petronas Carigali Sdn Bhd and Sarawak Shell Bhd/Sabah Shell Petroleum Co Ltd. It will reduce their operational costs when they are chartering our vessels which are equipped with such a system,” he said. Worldwide chief operating officer (renewable energy division) Alif Shah said, “As Keyfield’s EPCC (Engineering, Procurement, Construction and Commissioning) partner, we played a crucial role in delivering this sustainable solution, demonstrating our commitment to advancing green energy initiatives and supporting the maritime industry to adopt cleaner and greener practices. From conception to inception and completion, the project was executed with exceptional precision.” He added one of the challenges for this project was the time factor. Due to its chartering commitments to its clients, Keyfield Wisdom was only available for us to carry out the work when it was berthed in Labuan while undergoing its periodic maintenance works. Nevertheless, we managed to complete the project 15 days ahead of schedule, reflecting the effective co-ordination and dedication of all parties involved. The recognition from Malaysia Book of Records was the icing on the cake,” he said.
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EdgePoint Towers, Sunway in landmark 5G deployment (mer, 22 gen 2025)
KUALA LUMPUR: EdgePoint Towers Sdn Bhd (part of EdgePoint Infrastructure), an Asean-based independent telecommunications infrastructure company in partnership with the Sunway Group, have deployed Malaysia’s first indoor 5G network in a commercial building. This future-ready in-building coverage solutions (IBC) is an extension of Sunway’s telecommunications infrastructure upgrade to improve connectivity in its prime commercial areas in Sunway City, which includes the Sunway Pyramid Mall & Convention Centre and the Sunway Medical Centre. As part of the collaboration, EdgePoint deployed active in building solutions to complement the existing Passive Distributed Antenna System (DAS) in-building solutions, which will enhance 4G coverage with high speed 5G coverage. The initial trial comprises 5G-enabled hotspot coverage at selected high-traffic areas around the food and beverage outlets, restaurants and cafes. Plans for the year include further expansion of 5G coverage throughout the mall towards ensuring faster, seamless connectivity for all the mall’s visitors and businesses. EdgePoint Towers CEO Muniff Kamaruddin said, “EdgePoint has enjoyed a mutually beneficial relationship with the Sunway Group, and this collaboration to upgrade Sunway Group’s buildings with 5G ready technology is a natural next step for us. We hope that the success of this initiative will serve as an effective 5G solution use case for other large and multi-purpose commercial businesses who are serious about stepping up connectivity, user experiences and productivity levels within their properties. We look forward to continuing to play a key role driving 5G adoption throughout the Klang Valley.” Sunway Digital Wave Sdn Bhd CEO Anandan Balakrishnan said, “As one of Southeast Asia’s leading conglomerates, our goal is to build sustainable townships and communities by finding innovative ways to create enriching, safe and connected environments within them. Fast, reliable and seamless connectivity is key to realising that vision and enabling our plans to support businesses, customers and residents within Sunway City.” He added EdgePoint’s future-ready customisable in-building systems, and their operational readiness made them the ideal partner to achieve their shared vision of creating a well-connected environment for everyone. The installation of the IBC systems and adoption of 5G network technology builds upon Sunway’s continuous digital transformation journey – effectively meeting indoor the growing needs of all their tenants, clients and also visitors, he said. “Our priority is to ensure that our customers have access to all modern-day conveniences afforded by high-speed internet connectivity. For now, users of Malaysia’s largest mobile network operator will be able to enjoy seamless 5G connectivity, and by year end all shoppers at Sunway Pyramid mall will enjoy the experience of unlimited, ubiquitous 5G. This being the first commercial building to provide seamless indoor 5G connectivity is a nice coincidence, and we are proud to be part of this collaboration,” added Anandhan. Muniff concluded, “We are glad to partner the industry’s leading players to deliver this national first. This collaboration reiterates our continued commitment to supporting businesses and the nation towards having one of the best-performing and most reliable 5G networks in the world. From ensuring nationwide network coverage to deploying highly specialised and targeted 5G solutions tailored to the needs of one of Malaysia’s largest conglomerates, the Sunway Group, our efforts do not stop here.” EdgePoint Infrastructure is the fastest growing multi-country tower company with scale in Asean with 15,600 sites in its portfolio, and is the second largest tower company in Malaysia.
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StashAway confident investors will explore opportunities in its newly launched Bitcoin and Ethereum ETF (mer, 22 gen 2025)
KUALA LUMPUR: StashAway, Malaysia’s leading digital investment platform, expects a portion of its 50,000 clients to explore investment opportunities in its newly introduced Bitcoin and Ethereum exchange-traded funds (ETF) offered through its regulated platform. StashAway Malaysia country manager Wong Wai Ken said many investors who are sceptical about investing in crypto can now do so confidently through the regulated fund manager, as the platform offers secure, safe, and easy investing in crypto assets. “We see the market for crypto as positive following the re-election of Donald Trump as US president, which augurs well for the development of crypto. “Many of our clients have expressed interest in the long-term potential of major cryptocurrencies like Bitcoin but have been hesitant because of security concerns or the complexities of navigating crypto exchanges. We are now offering them a familiar and safe way to diversify their portfolios by incorporating crypto through a platform they already know and trust,” he said at a media briefing today. According to news report, the US Securities and Exchange Commission’s (SEC) new leadership has created a task force to develop a regulatory framework for crypto assets, in the first major move by Trump’s new administration to overhaul crypto policy. Trump, who campaigned on promises to be a “crypto president”, has pledged to reverse an industry crackdown under former president Joe Biden’s SEC, which sued multiple crypto companies, including Coinbase, opens new tab and Kraken, alleging they had flouted its rules. The report noted that the task force’s focus will be to help SEC draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously. StashAway’s launch of Bitcoin and Ethereum ETF comes at a pivotal moment in the crypto market, marked by growing institutional adoption as the price of Bitcoin crosses the US$100,000 (RM444,000) milestone. With the newly inaugurated US presidential administration signalling support for crypto-friendly regulations, investors have shown renewed interest in this new and growing asset class. Wong said that despite the growing adoption of cryptocurrencies by mainstream and institutional investors, many individuals remain cautious due to the complexities involved, such as the risk of losing funds if a private key for their crypto wallet is lost or compromised. Crypto exchanges also often have complex fee structures, including trading fees, withdrawal fees, and gas fees which can fluctuate unpredictably. However, on the positive side, multiple studies have shown that a small allocation to Bitcoin in a diversified portfolio can enhance long-term returns without necessarily heightening volatility. Over the long term, a 5% allocation to Bitcoin in a traditional 60/40 portfolio can uplift returns while improving the risk-to-reward ratio. To help investors manage their crypto exposure more easily and securely, StashAway is adding Bitcoin and Ethereum ETF to its Flexible Portfolios. This existing feature lets clients customise their own portfolios from over 70 ETF across various asset classes. With the addition, investors can create diversified portfolios that include both crypto and traditional assets such as equities, bonds, and gold. In line with StashAway’s fee structure, Flexible Portfolios offer a clear and simple annual management fee ranging from 0.2% to 0.8%, with no lock-in period or minimum investment requirement. For portfolios containing only a single ETF, the management fee is a flat 0.3% per year. The crypto ETF available in Flexible Portfolios – Fidelity Wise Origin Bitcoin Fund and Fidelity Ethereum Fund – carry an annual expense ratio of 0.25%.
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