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Pauline Teoh
News

Zurich Malaysia appoints Pauline Teoh as CEO at Zurich Life Insurance Malaysia Berhad

KUALA LUMPUR: Zurich Life Insurance Malaysia Berhad (ZLIMB) has announced the appointment of Pauline Teoh  its new CEO, effective 1 November 2024. In a statement, the firm noted that Teoh brings over 25 years of experience in the insurance industry, having held senior leadership roles across the APAC region with leading financial institutions. Junior Cho, Country CEO/Head of Zurich Malaysia, said, “Teoh’s extensive experience, industry knowledge, and strong leadership skills make her the ideal person to drive ZLIMB’s business growth, diversification, simplification, and innovation. She will report to me and be part of our leadership council to align with the OneZurich approach under Zurich Malaysia.” “Teoh’s dedication to delivering customer-focused solutions aligns perfectly with Zurich Malaysia’s mission to provide innovative insurance products that meet the evolving needs of Malaysians. We are confident she will play a pivotal role in strengthening ZLIMB’s competitive edge in the insurance sector,” Cho added. Teoh is highly regarded in the industry, with a proven record in business growth, digital transformation, partnership management, sales and distribution, and financial risk management. She holds a Bachelor of Mathematics in Actuarial Science and Economics from the University of Waterloo, Canada, and is a Fellow of the Society of Actuaries. Commenting on her appointment, Teoh said, “I am honoured to lead ZLIMB and look forward to contributing to the company’s continued success. Zurich Malaysia’s commitment to innovation and customer-centricity resonates with my values, and I am excited to work with the team to deliver best-in-class solutions that care for what matters most to Malaysians, as we create a brighter future together.”

Investment & Market Trends

Azam Jaya Berhad IPO Soars: Oversubscribed by 23 Times in Main Market Debut

KUALA LUMPUR: Sabah-based major road infrastructure construction player, Azam Jaya Berhad (“Azam Jaya”), has garnered significant interest from investors for its initial public offering (“IPO”), which has been oversubscribed by 23.00 times ahead of its listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). Azam Jaya, through its subsidiaries (collectively, the “Group”), specialises in the construction of large-scale road infrastructure in Sabah, including roads, highways, bridges, flyovers, and tunnels. With over 30 years of experience in the industry, the Group has a proven track record, having successfully completed over 50 construction projects in the region. Azam Jaya’s IPO comprises 128.8 million ordinary shares, featuring a public issue of 78.8 million new ordinary shares (“Issue Shares”) at an issue price of RM0.78 per share, representing 15.8% of the enlarged share capital with RM61.5 million expected to be raised. In addition, there is an offer for sale of 50.0 million existing shares (“Offer Shares”), representing 10.0% of the enlarged share capital, by way of private placement to selected investors. In respect of the 25.0 million Issue Shares allocated to the Malaysian public, Azam Jaya has received a total of 16,014 applicants for 599,942,800 Issue Shares with a value of approximately RM467.96 million, representing an overall oversubscription rate of 23.00 times. For the Bumiputera portion, 8,482 applications for 282,907,200 Issue Shares were received, representing an overall oversubscription rate of 21.63 times. As for the Malaysian public portion, 7,532 applicants were submitted for 317,035,600 Issue Shares, resulting in an oversubscription rate of 24.36 times.   The 10.0 million Issue Shares available for application by the eligible directors and employees, as well as persons who have contributed to the success of the Company have been fully subscribed. Meanwhile, the 43.8 million Issue Shares and 50.0 million Offer Shares by way of private placement to institutional and selected investors have also been fully placed out. Notices of allotment will be posted to all successful applicants by 6 November 2024. Datuk Jessica Lo, Executive Director of Azam Jaya, stated, “We are greatly encouraged by the positive response to our IPO, which affirms the market’s confidence in Azam Jaya’s business strategies. We are well-positioned to seize new opportunities, which will include enhancing our construction capabilities and expanding our capacity for larger-scale projects. This will enable us to reach our goal of elevating construction standards in Sabah by introducing innovative techniques and delivering high-quality engineering solutions to meet the region’s growing demands.” From the RM61.5 million to be raised from the IPO, the Group has allocated RM8.0 million (13.0%) to boost construction capabilities and operational efficiencies by acquiring new machinery and equipment as well as technological upgrades. In addition, RM28.4 million (46.2%) is allocated for working capital purposes, RM20.0 million (32.5%) is earmarked for repayment of bank borrowings, and RM5.1 million (8.2%) will be used to defray listing expenses.  Azam Jaya is scheduled to be listed on the Main Market of Bursa Securities on Monday, 11 November 2024. Upon listing, Azam Jaya will have a market capitalisation of approximately RM390.0 million based on the issue price of RM0.78 per share and the enlarged share capital of 500.0 million shares. Inter-Pacific Securities Sdn Bhd is the Principal Adviser, Sole Underwriter and Sole Placement Agent for the IPO exercise.

Energy & Technology

China Sets Up National Data Group to Spur Development of Digital Economy

SHANGHAI: The China National Data Group Alliance, which aims to foster the high-quality development of the digital economy, was established on Oct. 20 at the 2024 Global Data Ecosystem Conference held in Shanghai. The formation of this alliance aims to break geographical restrictions by sharing resources, technologies and scenarios, to inject new vitality into the reform of China’s market-oriented allocation of data elements and to promote the construction of a unified national market, reports said. The alliance has an initial membership of 21 data industry companies, including Shanghai Data Group and Jiangsu Data Group, which have operations in 21 provincial-level regions. Nearly 300 people, consisting of the heads of data groups and industrial companies as well as representatives from universities, research institutes and digital companies, were present at the conference when the alliance was established.

News

Khazanah, PNB sold FashionValet stake for RM43.9mil loss

PETALING JAYA: Khazanah Nasional Bhd and Permodalan Nasional Bhd lost RM43.9 million after selling their stake in e-commerce platform Fashion Valet Sdn Bhd (FashionValet) for RM3.1 million. In a written parliamentary reply, the finance ministry said sovereign wealth fund Khazanah (RM27 million) and asset manager PNB (RM20 million) invested a total of RM47 million for minority stakes in FashionValet in 2018. The ministry said the investment was part of Khazanah’s mandate at the time to foster local technology entrepreneurs and gain exposure in the rapidly growing e-commerce sector. At the same time, PNB wanted to support fast-growing Bumiputera digital retail companies and help them become regional retail platforms for Malaysian brands. However, the Covid-19 pandemic and challenging fundraising market conditions severely impacted FashionValet’s business, which required significant new capital to continue operations, it said. “At the end of last year, a Bumiputera company, NXBT Partners, offered to take over Khazanah’s and PNB’s existing stake in FashionValet and inject the necessary capital into the company,” it said “Consequently, all shareholders agreed to accept the offer. Khazanah and PNB received RM3.1 million from the sale of the shares. “The losses incurred from the sale of FashionValet shares were minimal compared to Khazanah and PNB’s overall earnings for the year.” The ministry said the sale represents a responsible exit by Khazanah and PNB and allows a strategic investor to continue supporting FashionValet, address its funding needs, and redevelop the business in a challenging industry environment. It was responding to a question from Yeo Bee Yin (PH-Puchong) about the details of Khazanah and PNB’s investment in FashionValet and whether other government-linked companies or government-linked investment companies had also invested in the e-commerce platform. NXBT Partners is an investment holding company controlled by Afzal Abdul Rahim, the CEO of TIME dotCom Bhd. The Edge Markets reported that Khazanah holds a 32.34% stake in TIME dotcom as of July 22 this year.–FMT

News

Thailand Aiming to Have Six New Airports

BANGKOK: Deputy Transport Minister Manaporn Charoensri has again pointed to the need for six new airports if Thailand is to become a regional transport hub. Her comments came on the heels of the 59th Asia and Pacific Directors General of Civil Aviation Conference, held from Oct 14-18 in the Philippines. The conference, which was attended by representatives from 48 countries and international aviation organisations including Thailand’s Department of Airports (DoA), discussed critical areas in civil aviation on the theme “Shaping the Future of Air Transport: Sustainable, Resilient, and Inclusive”. A doubling of global passenger numbers within the next 20 years was projected during the meeting, emphasising the need for significant infrastructure investment, particularly in the Asia-Pacific region. Following the conference, the ministry outlined a vision for the future of air transport, anticipating passenger volume growth, infrastructure development, and travel facilitation. It also encouraged the DoA to consider sustainable and inclusive airport infrastructure investments nationwide, including capacity enhancement projects and the construction of six new airports in Mukdahan, Bueng Kan, Satun, Phayao, Kalasin, and Phatthalung. “The importance of safety by designing secure airports and integrating advanced security equipment to improve screening processes, along with the concept of universal design for facilities cannot be emphasised enough,” Manaporn said. The ministry also prioritised accessibility for people with disabilities, promoting equal travel access. In terms of environmental goals, the DoA was urged to expand on its achievements after winning the 2024 Environmental Impact Assessment Monitoring Awards, aiming for carbon neutrality and achieving Level 5 Airport Carbon Accreditation. — THE NATION/ANN

News

Mah Sing and Bridge Data Centres Form 2nd JV to Expand Southville City DC Hub to 300MW, Operations by 2026

KUALA LUMPUR: Mah Sing Group Berhad (Mah Sing) has signed a second collaboration agreement with Bridge Data Centres (BDC), backed by Bain Capital, to expand the development at Mah Sing DC Hub@Southville City. The site is approximately 36 acres and is poised to offer a 200Mega Watt (MW) of power capacity, further solidifying the hub’s role as a key player in Malaysia’s digital infrastructure. This latest partnership builds on the initial agreement signed in May 2024 and together, these agreements increase the total planned power capacity to 300MW. The entire hub can support a 500MW power capacity, establishing Southville City as a modern data centre hub. The data centre’s first phase is anticipated to be operational by 2026. Joint Venture Agreement and Strategic Progress As part of this collaboration, BDC will provide a forfeitable deposit as both companies work towards finalising the Joint Venture Agreement (JVA). This will include forming a joint venture company, defining share ratios, and executing the Sale and Purchase Agreement (SPA) for the land. Securing Hyperscale and AI Commitments for Future Growth BDC is actively working to secure hyperscale and AI data centre customers with robust financial backing. BDC will lead the design, construction, and infrastructure development to meet the specialised requirements of these high-capacity clients, ensuring that the project is fully aligned with the demands of the digital economy. Strategic Land Valuation and Development The 36 acres land for this 200MW power capacity project has been valued at approximately RM311million. Supporting Malaysia’s Digital and AI Ambitions This agreement is perfectly timed, aligning with Malaysia’s 2025 Budget focus on accelerating digitalisation and AI development. Mah Sing DC Hub@Southville City is set to play a pivotal role in advancing Malaysia’s ambitions to become a leading regional hub for data management and digital infrastructure. Strategically located within 20km of major data centre hubs in Cyberjaya and Bukit Jalil, Southville City offers access to key resources and infrastructure. With Mah Sing’s 30-year track record of swift execution and the availability of power, water, and high-speed connectivity, the hub is positioned to quickly meet market demand Expected Operations and Future Expansion The data centre’s first phase is anticipated to be operational by 2026. Additionally, Mah Sing has 42 acres of land at its Meridin East township in Johor Bahru, capable of supporting 300MW of future power capacity, offering significant opportunities for further growth and value creation. Commitment to Malaysia’s Digital Future Malaysia has successfully secured investment totalling USD16.9billion from global technology giants such as AWS, Microsoft, Google and Oracle and the timing of this collaboration is particularly advantageous, given the growing global demand for data centres driven by the rise of AI and cloud computing. The presence of an established player like BDC within the Mah Sing DC Hub@Southville City is expected to attract more data centre operators or offtakers to the remaining parcels. This influx of industry leaders will further cement the hub’s status as a leading data centre destination in the region. Mah Sing’s Founder and Group Managing Director, Tan Sri Dato’ Sri Leong Hoy Kum expressed confidence in the continued partnership with BDC, stating “This collaboration underscores Mah Sing’s commitment to building cutting-edge digital infrastructure. Our 30-year track record of rapid project execution makes us the ideal partner for data centre players seeking speed to market and scalability. This is just the beginning of many opportunities for Mah Sing to shape Malaysia’s digital future. “We are excited to expand our collaboration with Mah Sing, which significantly boosts BDC’s capacity resources in Malaysia. This partnership reinforces BDC’s commitment to investing in Malaysia’s digital infrastructure as a leading data centre provider in the region, while consistently delivering exceptional service to our clients,” said Eric Fan, CEO of Bridge Data Centres.

Sukanto Aich
The Executives

Lighting the Way: How Signify Malaysia Drives Innovation and Sustainability in the Region

As businesses globally prioritse sustainability, Signify Malaysia, led by Sukanto Aich, has emerged as a leader in lighting solutions with a keen focus on energy efficiency, carbon neutrality, and smart technologies. The company’s recent achievements underscore its commitment to both innovation and sustainability, positioning itself at the forefront of environmental responsibility in Malaysia and the region. Achieving Carbon Neutrality and Renewable Energy Goals Signify reached carbon neutrality in 2020 across all operations, including Malaysia. “This was achieved by transitioning to 100% renewable electricity, improving energy efficiency, and compensating for any remaining carbon emissions through certified projects,” explained Sukanto Aich, President of Signify Malaysia​. This ambitious goal aligns with Malaysia’s environmental targets and the United Nations Sustainable Development Goals (SDGs). The company also champions energy-efficient LED technology and offers circular solutions such as Light as a Service, where businesses lease lighting systems instead of purchasing them. “This service allows companies to reduce waste while benefiting from high-quality lighting solutions without a significant upfront investment,” noted Aich​. Market Response and Growing Industry Adoption The Malaysian business community has embraced sustainable lighting, driven by environmental awareness and rising energy costs. Sectors such as commercial real estate, hospitality, and manufacturing are leading the charge. Aich elaborated: “We’ve observed strong interest from industries where energy savings and sustainability credentials are crucial, such as real estate, where developers are aligning with green building standards like LEED and GBI”​. In manufacturing, the adoption of LED solutions has reduced operational costs significantly. “Depending on the application, energy consumption can be lowered by up to 70%, especially when combined with smart lighting controls,” Aich stated​. Similarly, hotels are using smart lighting systems to create dynamic atmospheres for guests while saving energy through automated controls based on natural light cycles. Government incentives like the National Energy Efficiency Action Plan (NEEAP) and the Green Technology Financing Scheme (GTFS) have further accelerated the adoption of these technologies. Addressing Challenges: Cost and Awareness One of the primary challenges in promoting sustainable lighting solutions is the high upfront investment. “While LED and smart lighting systems offer long-term savings, the initial costs can be a deterrent,” Aich admitted​. To mitigate this, Signify introduced Light as a Service, a financing model that spreads costs over time to make sustainable solutions more accessible. Another challenge is market awareness. “Many businesses are not fully aware of the benefits these technologies offer,” Aich said. “Our Green Switch campaign aims to bridge this gap by educating customers on how sustainable lighting can drive both economic and environmental benefits”​. Innovations in Solar and 3D Lighting Technologies Signify has expanded its portfolio to include solar-powered lighting, bringing illumination to remote areas that lack access to grid electricity. “These solar lighting solutions have already been deployed in several municipalities, reducing reliance on grid power and cutting energy costs,” Aich shared​. The initiative aligns with Malaysia’s national sustainability goals while enhancing safety and visibility in rural regions. The company has also embraced 3D printing technology, which Aich described as a game-changer. “3D printing allows us to minimize material waste by only using what’s necessary to build the final product. This also enables local, on-demand production, reducing transportation emissions and warehousing needs,” he explained​. Driving Energy Savings Through Smart Lighting Signify’s smart lighting solutions help businesses reduce energy consumption and carbon emissions by utilizing sensors and automation. “Our systems adapt lighting based on occupancy and daylight availability, ensuring that energy is used only when and where needed,” Aich said. One example of the company’s innovation is its collaboration with Optimax Eye Specialists, where UV-C disinfection lighting was integrated with smart systems to enhance air quality and safety. “These advanced systems not only reduce operational costs but also align with our sustainability goals by cutting down carbon emissions,” Aich added​. Collaboration plays a crucial role in Signify’s strategy to drive innovation. Aich highlighted the company’s partnership with Cisco as an example: “By integrating our lighting solutions with Cisco’s networking technology, we’ve created smart systems that enhance both efficiency and cybersecurity”​. This partnership enables building managers to control lighting across facilities via a single platform, optimizing energy use and improving operational efficiency. Looking ahead, Signify plans to expand its presence in East Malaysia to meet the growing demand for sustainable lighting. “We are also focused on integrating AI and IoT technologies into our products to provide even more advanced solutions,” Aich revealed​. With sustainability and innovation embedded in its core strategy, Signify Malaysia is lighting the way toward a greener future. From carbon-neutral operations to smart lighting systems, the company’s efforts demonstrate how businesses can drive positive environmental change while remaining competitive. “Our commitment to sustainability goes beyond products—it’s about creating long-term value for our customers, society, and the planet,” Aich concluded. “We believe that by continuing to innovate and collaborate with industry partners, we can contribute to a brighter, more sustainable future”​. By integrating cutting-edge technology with practical sustainability initiatives, Signify exemplifies how businesses can stay resilient and profitable in an ever-changing market, all while advancing environmental goals.

News

FedEx Appoints New Vice President for Southeast Asia

SINGAPORE: Federal Express Corporation, one of the world’s largest express transportation companies, has appointed Bianca Wong as the new Regional Vice President for Southeast Asia. Bianca, previously Vice President of Human Resources for Asia Pacific, will now helm the operational strategies in one of the company’s fastest-growing markets. She succeeds Audrey Cheong, who assumed the role of Vice President for FedEx China in September 2024. With over 22 years of extensive experience in human resources and business partnership roles across different industries, Bianca has demonstrated a strong track record of strategic leadership and operational excellence. In her new role, Bianca will lead the overall planning and implementation of corporate strategies and operations to drive business transformation and will manage a team of more than 4,000 team members across markets and territories in the region. “I am honoured to take on this new challenge and to continue transforming FedEx for what’s next by driving our growth and commercial success,” said Bianca Wong, Vice President, Southeast Asia Operations. “Southeast Asia is a vibrant region with immense growth potential. Together with our strong and talented team, we will continue to deliver service excellence to meet the evolving needs of our customers while continuing our mission of connecting people and possibilities in this dynamic business environment.” Bianca’s appointment is a reflection of the company’s commitment to its People-First philosophy by nurturing leadership from within, and ensuring the talent is capable of steering the company through the evolving logistics landscape as FedEx strives to create smarter supply chains for all.

Investment & Market Trends

Vingroup Launches VinVentures Capital Fund

HANOI:  On October 28, 2024, Vingroup announced the launch of the VinVentures capital fund, with total assets under management of 150 million USD. The fund is dedicated to investing in high-impact technology startups, aiming to foster and develop the startup ecosystem. This initiative is expected to contribute significantly to the creation of digital technology enterprises in Vietnam and across the region. VinVentures is a capital fund sponsored by Mr. Pham Nhat Vuong and Vingroup. The fund currently manages total assets of 150 million USD, of which 100 million USD is an inherited investment portfolio from Vingroup, with an additional 50 million USD expected to be disbursed over the next three to five years. The primary investment focus of VinVentures includes Artificial Intelligence (AI), Semiconductors, and Cloud Computing, as well as other high-tech products. Moreover, the fund also welcomes startups from diverse sectors, provided they demonstrate growth potential and the ability to deliver quality products and services, without being limited to those associated with Vingroup. The fund initially targets Vietnamese market, focusing on startups with local founding teams in the early stages, specifically the seed and Series A rounds—which are the second and third of five typical funding rounds for startups. In the future, the fund aims to broaden its scope to include startups in regional markets with development traits similar to Vietnam, such as Singapore, Indonesia, and the Philippines. In terms of the investment process, the fund collaborates with potential investees through a series of defined steps: initial meetings, exchange of information, detailed research on the product and its target market, thorough investment appraisal, signing of negotiation agreements, and then the final investment contract. The timeline from when a startup submits its application to when it secures funding typically spans 2 to 3 months, maxing up to 6 months for larger-scale transactions. VinVentures sets forth specific investment criteria, targeting startups that demonstrate potential for sustainable growth, robust growth rates, and commercially viable products and services with substantial practical applications. Additionally, these startups must be led by founding teams with established credibility and extensive experience. Investment transactions are executed on a foundation of professional investment principles, wherein VinVentures acquires equity stakes, becoming a shareholder in the company with clearly defined profit expectations. Ms. Le Han Tue Lam, Managing Director of VinVentures, stated: “Beyond providing capital, VinVentures offers startups a unique advantage by facilitating connections within the Vingroup ecosystem. This includes using the ecosystem as a rigorous platform for evaluating and testing products and services before they enter the market, with the potential for these companies to also become customers of the startups. Moreover, by leveraging our extensive network and resources as the leading corporation in Vietnam and the region, we are equipped to provide advice and assistance. This support helps startups to establish relationships with major market partners and acts as a catalyst for their future growth.” Investing in technology startups has consistently been a strategic priority for Vingroup as it transitions into Vietnam’s leading technology conglomerate. Prior to VinVentures, Vingroup had already invested in numerous tech startups through funds such as Vingroup Ventures and VinTech City. With robust resources from the conglomerate, these startups have successfully developed and launched products to the market, with some even rising to become leaders in their respective fields, including VinBigData, VinAI, VinBrain, VinCSS,… By continuing Vingroup’s commitment to nurturing and expanding digital technology enterprises, VinVentures will strategically optimize opportunities for the realization and introduction of innovative technology ideas into the Vietnamese and regional markets, at the same time broadening the conglomerate’s revenue streams According to the Global Startup Ecosystem Report (GESER 2023) by Startup Genome, Vietnam’s startup ecosystem is currently ranked third in Southeast Asia, boasting an estimated economic impact of $5.22 billion. The number of startups in Vietnam has dramatically increased from approximately 1,600 during the Covid-19 pandemic to over 3,800 at present, with AI startups making up nearly 10% of the total. Startups interested in partnering with and receiving investment from VinVentures are encouraged to contact us via email at [email protected] and fill out the application form here

News

Global Logistics Giant Acquires Volvo Electric Trucks in Singapore

SINGAPORE: Volvo is at the forefront of the movement towards electrifying transportation, mobility, and equipment industries, significantly aiding customers in reducing their carbon emissions. We aim to address our customers’ sustainability challenges from both a customer and societal point of view. Likewise, the Singapore Green Plan 2030 is a comprehensive effort involving the entire nation to push forward Singapore’s goals for sustainable development. Having two key sustainable stakeholders within one country could potentially pave the way for a sustainable future in the near future.   Gino Marzola, Managing Director of DSV Air & Sea Singapore & Malaysia said:   “Launching our new electric fleet marks a pivotal moment for DSV in Singapore. It’s not just about adopting new technology; it’s about leading the way toward a greener, more sustainable future. We are thrilled by the positive feedback from clients and are confident that this initiative will bring us closer to achieving our long-term sustainability goals.”   Innovation in Transportation Volvo Trucks is one of the world’s largest manufacturers and a market leader in electromobility with 4,200 electric trucks operating in 46 countries. DSV, the world’s largest global transport and logistics company, is one of the largest purchasers of electric models from Volvo Trucks and earlier this year signed a huge deal for 300 new models for its European operation. In Singapore, the models are a Volvo FL Electric and a Volvo FM Electric. These two units represent the very latest cutting-edge truck technology, providing efficient, zero-emission transport solutions. The Volvo FL Electric is optimised for urban distribution, with a compact design and nimble turning radius. It’s ideal for navigating Singapore’s tightly packed urban centre, and last-mile deliveries. The Volvo FM Electric is larger, and offers a greater payload capacity and advanced technology for long-haul operations. It’s tailored for longer journeys while still offering the same high-performance, zero-emissions operation.     Both models feature an all-electric drivetrain, enabling quieter operations and reducing noise pollution. They also deliver cost-efficient operation, and maintenance expenses than traditional diesel vehicles. The Volvo FL and FM Electric trucks have been customised to DSV’s local operational needs in Singapore, including modifications for optimal cargo capacity. The FL is equipped with 3 batteries, while the FM boasts 5 batteries, enabling longer-range and versatile performance.   Volvo Trucks is set to expand the electrification of heavy trucks globally with the upcoming launch of a long-range version of its FH Electric truck in 2025. This model will have the ability to travel up to 600 km on a single charge, allowing customers to use electric trucks on longer routes without the need for frequent recharging. The enhanced range is made possible by Volvo’s innovative e-axle technology, which allows for increased battery capacity, along with improvements in battery efficiency, management systems, and overall powertrain performance.   Anna Engblom, Managing Director, Volvo Trucks, Southeast Asia & Japan said: “Long-lasting partnerships and a dedicated determination to truly make an impact are crucial for achieving substantial CO2 reductions in practice. During the past few years, we have experienced change towards a sustainable future across most of our markets. As a manufacturer, we need to be prepared to manage changes that can occur without much warning. We will always be able to sell trucks, but we need to develop business models and make sure that we can adapt our size to match new conditions. We also need to continue to deliver high-quality products and help our customers achieve profitability with their Volvo trucks.”   Support and After-Sales Services To ensure seamless integration of Volvo’s electric trucks into DSV’s operations in Singapore, the company is providing comprehensive support through a 7-year Gold Service Agreement, which covers all service and repairs. Additionally, UD Trucks Singapore provided driver training before the handover, ensuring DSV’s team is well-prepared to operate the vehicles efficiently.   Joseph Heng, General Manager of UD Trucks Singapore, said:   “We are excited to be part of this green transition alongside DSV and Volvo Trucks. Providing comprehensive training and after-sales support to ensure these electric trucks deliver on their promise is at the heart of our commitment to helping Singapore achieve its sustainability goals. With the combination of innovative technology and strong customer support, we are confident that DSV will see excellent operational performance and long-term value from these vehicles.”   DSV’s Alignment with Global and Local Sustainability Goals DSV is committed to driving sustainable practices across its operations, with a global target of achieving net-zero emissions by 2050. DSV’s adoption of the Volvo FL and FM Electric trucks in Singapore is part of a broader strategy to expand its electric vehicle fleet. In Singapore, DSV already operates electric vans, 10ft and 14ft e-trucks for some of their last-mile deliveries. The introduction of these larger electric models signals DSV’s readiness to scale up as demand for sustainable logistics solutions grows.   As part of its bold vision to lead the global logistics industry, DSV recently signed a landmark agreement to acquire DB Schenker, one of the largest and most strategic moves in its history. This acquisition not only enhances DSV’s logistics capabilities but also aligns with its mission to drive sustainable solutions worldwide. While the global focus sharpens, DSV’s Singapore operation continues to push forward with innovative green initiatives, exemplified by its latest electric vehicle partnership with Volvo Trucks. DSV has received encouraging feedback from clients interested in adopting electric vehicles for their operations. While enthusiasm is high, adoption will depend on specific operational requirements, and the company is actively engaging with potential customers to assess how electric trucks can enhance their supply chains.

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