Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Icon-facebook Icon-instagram-1 Linkedin
Newsletter
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Author name: admin

Lifestyle, News

Proton Aims to Sell Up to 2,000 Units of 2025 X70 Per Month

/

PUTRAJAYA: Proton Holdings Bhd aims to sell up to 2,000 units of the newly launched 2025 Proton X70 per month, given the strong demand for the current model. Its Deputy Chief Executive Officer Roslan Abdullah said the Proton X70 has been a crowd favourite, with sales of over 1,000 to nearly 2,000 units per month. “For the 2025 Proton X70, we are targeting sales figured in the same range, which is more than 1,000 and up to 2,000 units, based on the enhancements and competitive pricing we have introduced,” he said after the launch of the latest Proton X70 model. Roslan added that aside from the existing markets, the automaker also plans to export the model to over 10 new countries. Meanwhile, Proton Chief Executive Officer Dr Li Chunrong said the launch of the new model marked a new milestone in the Proton-Geely partnership. “With so many milestones over the past 18 months, including the introduction of electric vehicles, the company has come quite far since the launch of our first sport utility vehicle (SUV) in 2018,” he said. Proton’s updated B-segment SUV is available in the Standard, Executive, Premium and Premium X variants, with prices ranging from RM98,800 to RM126,800. In conjunction with the launch, Proton is offering up to RM23,500 worth of added-value features at no extra cost for the first 3,000 customers to register their 2025 Proton X70. The new model also comes with a 5-year unlimited mileage warranty, a 5-year data package with 1GB per month and 6 complimentary labour services. — BERNAMA

Upcoming Events

Malaysia-China Summit 2024 Set to Generate RM2 Bil in Trade and Investment Leads

/

KUALA LUMPUR: The Malaysia-China Summit 2024 (MCS 2024), which will take place from 17-19 December 2024 at the Malaysia International Trade and Exhibition Centre is expected to generate RM2 billion in trade and investment leads. More than 500 exhibitors and 10,000 trade visitors will converge at MCS 2024, which features an international trade and exhibition expo and a leadership conference. The summit, organised by Qube Integrated Malaysia in association with the Malaysia External Trade Development Corporation (MATRADE), will mark the 50th anniversary of Malaysia-China bilateral ties and serve as a catalyst for economic growth and innovation. At a media briefing, Qube and MATRADE announced the Malaysian Consortium for Mid-Tier Companies (MCMTC) and the Malaysian International Chamber of Commerce and Industry (MICCI) as strategic partners for MSC 2024. MATRADE Board Member Datuk Mohammad Medan Abdullah said the strategic partnership will bring a dynamic presence of Malaysian mid-tier companies (MTCs) and large corporations, ensuring the summit’s success in fostering robust trade relations and investment opportunities among Malaysia, China and the broader ASEAN region. “Our commitment to championing Malaysia’s MTCs, which are key drivers of growth, innovation and employment, is reflected in this partnership. MTCs play a critical role in driving growth, fostering innovation and creating employment opportunities. “They have demonstrated remarkable resilience and adaptability amid various global economic challenges, making significant contributions to our economy,” he said. Mohammad Medan said that MICCI will ensure strong participation from diverse industries, making the summit a hub for meaningful discussions and collaborations. “These partnerships will facilitate the integration of businesses, from micro, small and medium enterprises (MSMEs) to large corporations, amplifying the summit’s impact to attract key industry players and decision-makers,” he said. Meanwhile, Qube Integrated Executive Chairman Richard Teo stated that the Malaysian MTCS will complement the substantial involvement of their China counterparts, who are eager to forge collaborations. “These China companies represent a dynamic array of sectors, including construction materials, hardware tools, home décor, automotive, daily use products, appliances, electronics, culture, arts and crafts, leisure, fashion, and lifestyle. “I’m confident there will be significant synergy between Malaysian and Chinese companies at the summit, as they can leverage their respective strengths and develop mutually beneficial partnerships,” he said. Teo said the organisations will have an opportunity to participate in pocket talks, business presentations, product launches, memorandum of understanding signings, and innovation showcases, fostering connections and generating business leads with China and ASEAN. MCMTC President Martin Ang said the partnership aligns with their mission to elevate MTCs into regional and global champions by building alliances and promoting sustainable growth. “MCMTC aims to gain and share knowledge, access new resources, and drive market growth while strengthening bilateral relationships at the summit. “Our participation in MCS 2024 aligns perfectly with our mission to foster strategic alliances, mobilise expertise, and pronmote sustainable growth, cultivating a robust business ecosystem for MTCs,” he said. — BERNAMA

News, Property

Lexis Hotel Group Launches KL’s Latest Iconic Landmark, Imperial Lexis

/

KUALA LUMPUR: Imperial Lexis Kuala Lumpur by Lexis Hotel Group has officially opened its doors, setting a new standard for opulent living and world-class hospitality and is poised to become the city’s latest iconic landmark. In a statement, the group said that the 53-storey hotel is the only one in Kuala Lumpur to feature a private pool in each of its 275 serviced rooms and suites. The property integrates eco-friendly materials in its amenities and packaging, while also incorporating energy-efficient technologies, allowing guests to indulge in luxury with a minimal environmental footprint. “Embracing innovation, Imperial Lexis Kuala Lumpur champions the use of technology in its daily operations, offering seamless mobile check-in via tablets and mobile devices, effectively reducing the reliance on printed materials. “This forward-thinking approach ensures a stay that is both sophisticated and sustainable,” Lexis Group said. — BERNAMA

ESG

Pavilion Kuala Lumpur Partners with Istana Budaya to Celebrate 67 Years of Merdeka with “Pavilion Loves Sustainability”

/

KUALA LUMPUR: As Malaysia celebrates 67 years of independence with the theme ‘Malaysia Madani: Jiwa Merdeka,’ Pavilion Kuala Lumpur is excited to launch its Merdeka festivities with a groundbreaking, long-term partnership with Istana Budaya and the return of its vibrant initiative: ‘Pavilion Loves Sustainability’. Part of Pavilion REIT’s ongoing commitment to Environmental, Social, and Governance (ESG) initiatives, the ‘Pavilion Loves Sustainability’ pop-up returns for its second year. From 12 to 18 August 2024, shoppers are invited to explore this dynamic pop-up at Pavilion KL’s Centre Court, supported by esteemed partners including Maybank, Istana Budaya, and Spritzer, along with eco-conscious tenants. In a major step towards sustainability, Pavilion KL is phasing out single-use plastic bottles for events and introducing biodegradable bottles by FLOW. Certified as home compostable by the Australasian Bioplastics Association, these bottles are crafted from 100% biodegradable materials—plant fibres, natural minerals, starch and patented adhesives. They can be composted at home, biodegrade naturally in landfills, or be incinerated. FLOW bottles decompose in 180 to 360 days, as compared to single-use plastics which take approximately 450 years to decompose. This initiative comes in response to Malaysia’s high microplastic consumption and research indicating potential elevated blood pressure from drinking from plastic bottles (Department of Medicine at Danube Private University, Austria).   Shoppers can engage in Pavilion KL’s sustainability movement by redeeming a complimentary FLOW bottle with a purchase of RM300 and above (or RM150 with Maybank Credit or Charge Cards) in a single receipt at speciality stores and F&B outlets. Additionally, visitors can adopt a plant from Midorie and The Body Shop, who are giving away 400 and 500 plants, respectively, over the weekend of 17 and 18 August. The ‘Pavilion Loves Sustainability’ pop-up will feature an array of exciting activities: DIY Station by Packaton: Create unique artwork on resilient, tear-resistant paper bags and embark on a journey of sustainable shopping. LUSH: Discover ethical, cruelty-free, and vegan-friendly products. PUMA x FIRST MILE Collection: Explore products from this eco-friendly collection that uses sustainable yarn made from recycled plastic DÔME Café: Redeem a succulent plant with any purchase and enjoy their Gashapon Games. The Body Shop: Explore sustainably sourced skincare and body care products, join planting activities (12-16 August), and plant giveaways (17-18 August). Bath & Body Works: Get a 10% voucher when you recycle used beauty bottles. Nespresso: Admire second-life items made from recycled capsules and participate in their lucky draw. Hydro Flask Malaysia: Trade in old plastic bottles for new Hydro Flask bottles and enjoy free customisation of selected products. Origins: Take part in the recycling program to receive a free sample and indulge in a complimentary hand massage or peace of mind ritual experience. National Geographic Apparel: Enjoy an adventurous shopping experience, with a portion of sales supporting the National Geographic Society nonprofit organisation. The Body Shop: Explore sustainably sourced skincare and body care products, join planting activities (12-16 August), and plant giveaways (17-18 August). Bath & Body Works: Get a 10% voucher when you recycle used beauty bottles. Nespresso: Admire second-life items made from recycled capsules and participate in their lucky draw. Hydro Flask Malaysia: Trade in old plastic bottles for new Hydro Flask bottles and enjoy free customisation of selected products. Origins: Take part in the recycling program to receive a free sample and indulge in a complimentary hand massage or peace of mind ritual experience. National Geographic Apparel: Enjoy an adventurous shopping experience, with a portion of sales supporting the National Geographic Society nonprofit organisation. Meanwhile, Spritzer will present several striking upcycled art installations, including a spectacular Jalur Gemilang masterpiece made from recycled bottles and the ‘Plastics Reimagined’ series featuring local artists like Artsy Daphy’s depiction of a hornbill and Rafflesia flower, and co2_karbondioksida’s transparent elephant sculpture. Shoppers can also learn about the second life of recycled plastics and enjoy gifts through Spritzer’s ‘Recycle & Get’ initiative. Be sure to also check out the stunning art display along the Spanish Steps, celebrating Malaysia’s 67th Independence Day. This vibrant tribute features lush Midorie plants and upcycled materials—denim for blue, egg cartons for yellow, bottles for white, and paper plates for red—mirroring the colours of the Malaysian flag. At the official launch of ‘Pavilion Loves Sustainability’ on 13 August 2024, Pavilion REIT celebrated the new collaboration with Istana Budaya, marking the beginning of a meaningful partnership aimed at promoting arts and culture as part of our ESG goals. Attendees enjoyed a performance by Istana Budaya’s 24-piece Traditional Orchestra Malaysia, alongside the national anthem ‘Saya Anak Malaysia’ performed by choirs and Pavilion REIT employees, showcasing Malaysians’ patriotic spirit and unity.  

News

Computer giant IBM will end research and development work in China

/

BEIJING: US computer giant IBM confirmed Monday (Aug 26) it would close its research and development arm in China. Multiple employees told AFP they had been informed during a brief meeting with US executives on Monday that the company would gut its research and development team in China and move operations to another country. When asked about the cuts, an IBM spokesman told AFP: “IBM adapts its operations as needed to best serve our clients, and these changes will not impact our ability to support clients across (the) Greater China region”. The employees said more than 1,000 jobs in China could be cut and it was unclear where the company would move its operations. “Today it was just officially announced,” said one employee, who declined to give his name. The employee, who said he had worked for IBM for 10 years, said “Everyone remained relatively calm … it feels more like a peaceful separation”. The firm has operated in China for decades and employs thousands of people in the country. Its research and development teams are based in several cities including Beijing, Shanghai and Dalian. Members of those teams said they were blocked from accessing the company’s server over the weekend. US-China tensions have led to numerous international companies either laying off employees or relocating some of their China operations elsewhere. The Wall Street Journal reported in May that tech giant Microsoft had this year asked hundreds of China-based employees in its cloud computing and artificial intelligence operations to transfer out of the country. The move was motivated by increasing scrutiny over its China presence, the paper said. US firms in China have increasingly complained about what they see as an unfair business environment, with limited protection for intellectual property and preferential treatment afforded to domestic competitors. Those fears were compounded last year by a broad crackdown on US consulting firms operating in China.-CNA

Energy & Technology, ESG, News

Telecom Industry Struggling to Secure Sustainable Renewable Energy

/

KUALA LUMPUR: The telecommunications industry is grappling with challengesin securing renewable energy (RE) supply, largely due to the limited availability of sustainable green energy sources. Edotco Group Sdn Bhd Chief Executive Officer Mohamed Adlan Ahmad Tajudin emphasised that having a sufficient supply of RE is crucial to support a smooth transition to the green economy. One of the major challenges in RE supply is the lack of supporting infrastructure, noting that some South Asian countries – including Pakistan, Bangladesh and Myanmar – are facing power grid issues. “Some of them have an unstable power grid system while some areas to not even have a power grid,” he said. “While some countries offer mechanisms to ensure that power drawn from the grid is renewable, the supply remains limited,” said Mohamed Adlan. In Malaysia, businesses can subscribe to Renewable Energy Certificates (RECs), benefit from Feed-In Tariff (FIT) schemes, or install solar panels under the Net Energy Metering mechanism. “However, the supply of RE is still limited at this time and it is on a first-come-first-serve basis,” he said, adding that generating clean energy can be a costly endeavour, leading to premium pricing. Given Malaysia’s sunny disposition, solar energy has become a key player in the nation’s green energy transition, helping to reduce carbon emissions and fuel consumption. “In some of our (foreign) markets where we operate, solarisation helped Edotco to cut fuel consumption by about 50% and reduce carbon emissions by 49% annually, in addition to lowering our operating expenditure,” he said. He also highlighted customer readiness to adopt sustainable energy as another challenge, underscoring the importance of close collaboration and transparent communication for successful outcomes. “It is crucial to work closely with our customers throughout this journey, ensuring transparency and open discussions on all matters,” he added. — BERNAMA

Investment & Market Trends, News

Manufacturing Sales at RM921.5 Bil in First 6 Months of 2024

/

KUALA LUMPUR: Malaysia’s manufacturing sector sales reached RM921.5 billion in the January-June 2024 period, increasing by 3.7% versus the 3.5% in the same period a year ago. Department of Statistics Malaysia (DOSM) Chief Statistician Datuk Seri Mohd Uzir Mahidin said the sector’s headcount was up by 1% to a total 2.37 million while salaries and wages grew by 1.3% to RM49.3 billion. “Sales value per employee was RM388,904, which is a 2.7% growth,” he said. The second quarter of 2024 (2Q 2024) registered sales of RM464.2 billion, reflecting a growth of 5.7% (1Q 2024: 1.8%) which was attributed to the electrical and electronics (E&E) products (7.3%) and the food, beverages and tobacco (8.2%) sub-sectors. “Furthermore, the number of employees and salaries and wages paid during the quarter went up by 1% (1Q 2024: 0.5%) and 1.4% (1Q 2024: 1.2%) respectively,” he added. Mohd Uzir said sales for the sector remained on steady growth with a 5.9% rise to reach RM156.1 billion in June 2024, primarily driven by the E&E products sub-sector, which grew 7.1% after registering 12.2% growth in May 2024. “The growth was also supported by the food, beverages and tobacco sub-sector with an increase of 8.6%, and non-metallic mineral products, basic metal and fabricated metal products which rose by 11.1%. “On a month-on-month (MoM) basis, the sales value grew by 0.8% from RM154.9 billion in May 2024,” he said. Additionally, the sales value for export-oriented industries, which accounted for 73.1% continued to expand at a faster pace of 6% in June 2024 (May 2024: 4.6%) while domestic-oriented industries grew a modest 5.5% (May 2024: 7.9%) due to 5.2% decline in motor vehicles, trailers and semi-trailers sales. “There were 2.37 million employees in the manufacturing sector in June 2024, a 1% increase compared to 0.9% in May 2024,” Mohd Uzir said, adding that salaries and wages rose by 1.8% to a total of RM8.20 billion in June 2024.

Investment & Market Trends, The Executives

Invest Kedah to Propel State in Further Contributing to Country’s GDP

/

By Tara Yean Malaysia has been demonstrating commendable economic resilience in 2024, with the state of Kedah securing the top spot in approved investments among the other states within the country for the first quarter of 2024 (1Q 2024), with a total of RM31.3 billion of investments as of June. According to Menteri Besar Datuk Seri Muhammad Sanusi Md Nor, the figure was part of the total RM83.7 billion approved investments in Malaysia for the quarter. The approved investments in Kedah, he said, involved 51 projects and were expected to create 2,262 jobs. Meanwhile, in an exclusive interview with The Exchange Asia, Invest Kedah Chief Operating Officer Noor Ikhsan Abdul Aziz revealed that China-based solar panel supplier and energy storage solutions provider, Risen Energy invested a total of RM42.2 billion in Kedah last year, which became the major contributor for the state to achieve its highest-recorded investment. “Every year, the state’s investment target is to maintain at least a total of RM10 billion annually for both foreign direct investment (FDI) and domestic investments across all sectors. “However, in 2024, Invest Kedah is pushing hard to meet our level best to record a total of RM30 billion worth of investments in the state alone,” Noor Ikhsan said. He added that the state is focusing on a few sectors when it comes to investments, namely renewable energy (RE), semiconductor, automotive, data centres and Halal Park, as well as potentially exploring investments from foreign corporations to establish collaborations with local universities or learning institutions. “Corporations are also welcome to set up their own research and development (R&D) centre, training facilities or course faculties in the universities as it will contribute to the state’s talent force development and ultimately benefit the technology-sharing concept with the corporations,” Noor Ikhsan explained. With the state emphasising more investment opportunities, Noor Ikhsan said that the state is divided into 3 major parts where such investments could occur – namely the Northern, Central and Southern parts. Investing in Energy and Talent However, for energy-related projects and investments, Invest Kedah encourages several locations such as the Kedah Science Technology Park (KSTP), Gurun, Bukit Selambau and Delapan SBEZ in Bukit Kayu Hitam. The KSTP is also located in Bukit Kayu Hitam and it has 1,900 acres of land located around 4km to the Malaysia-Thailand border. “We are also planning to attract and bring in investors to collaborate with the state’s government to develop an Industrial Power Plant to cater to the electrical needs of these industries,” he added. When asked about other potential investment industries that Kedah would explore, Noor Ikhsan mentioned sectors such as construction, logistics, agriculture, aerospace and telecommunication, among others. However, Noor Ikhsan noted that potential investors tend to look into the supply of local talent pool to support their operations. Hence, Invest Kedah believes it is part of the state’s responsibilities to establish initiatives and develop the talent to cater for industrial needs. “It is commendable that the state government is focusing on creating a sustainable talent pool through initiatives such as the Vendor Development Programme – designed and developed to encourage ‘anchor tenants’ from their origin country and establish operation facilities – to increase the investment potential value of Kedah. “Additionally, Invest Kedah also established a department of ‘Talent and Social’ that is dedicated in making the effort of facilitating the needs for talent in Kedah,” he said. Placing Kedah as Top State for Investment Earlier in February, a local news article reported that Sanusi said that ‘Kedah would be the top state in terms of investment, if not for Kuala Lumpur and Selangor’, and that he doesn’t want Kedah to be known as a ‘feeder’ state for other more successful states, which is expected to be achieved through the Greater Kedah plan. In regard to this statement, Noor Ikhsan said that every state in Malaysia aspires to be the top state in investment. “Kedah has a very big potential to stand out as its own, among other added value to the state are having its own main trade gateways such as international cargo airport, the Kedah Aerotropolis (KXP) and seaport to function as support for the growing industry. The development of KXP is strategically located at the centre of ASEAN with a vision to become the Asia Pacific Aviation Hub equipped with regional integrated logistics and transhipment cargo hub; regional maintenance, repair and overhaul (MRO) and aerospace manufacturing; hajj and umrah hub for the northern region of Malaysia; as well as the Regional Centre of Excellence for Aviation and Aerospace Learning and Education, among others. Noor Ikhsan said that another high-impact project that Invest Kedah believes to increase investment attractiveness is through the data centre industry, which will contribute to providing the computing infrastructure that information technology (IT) corporations require, such as servers, data storage drives and network equipment. Currently, the Bukit Kayu Hitam is also being developed for data centre investments, which have been granted Free Industrial Zone and Free Commercial Zone status by the Ministry of Finance (MOF) with the early phase of setting up internet exchange facilities. Securing Kedah’s Future Noor Ikhsan further explained that the state is poised for long-term success, as outlined in the Kedah Development Plan 2035. “The Kedah Development Plan 2035 is a state vision that involves comprehensive socio-economic development to ensure that Kedah will become a viable and competitive state nationally and globally,” he pointed out. With Invest Kedah being the state’s principal investment promotion agency, it is up to the agency to implement the initiatives according to the policies outlined by the state. Among its functions and relations with the private industry, Invest Kedah is able to play its role in assisting the development of higher education, employability of locals and income generation to the state. Additionally, Noor Ikhsan noted that the Kulim Hi-Tech Park (KHTP) is maintained as the state’s investment magnet since its establishment in 1996. With ready infrastructure (NurPower – dedicated power supply in KHTP), quick intermodal logistics connectivity (BKE connecting North

Investment & Market Trends, News

Malaysia’s Care Economy Set for US$25.5 Bil Boom

/

KUALA LUMPUR: The care economy is flourishing in Southeast Asia, with Malaysia’s market potential reaching US$25.5 billion. According to Deputy Economy Minister, Datuk Hanifah Hajar Taib, the country’s ageing population has presented an optimistic economic opportunity. “The global market potential from the ageing population is projected to be US$4.56 trillion by 2025. “Malaysia can leverage this trend to enhance societal well-being and productivity through new economic sectors such as the caregiver economy,” he said. Hanifah also noted that Malaysia’s industries could benefit from the growing demand for healthcare services, both domestically and internationally. This includes opportunities in healthcare and long-term care tourism, medical equipment supplies and advanced medical technologies employing artificial intelligence (AI) and robotics. Additionally, Hanifah encouraged private companies to develop products and solutions targeting the elderly and the caregiver economy. — BERNAMA

Icon-facebook Icon-instagram-1 Linkedin
  • Sitemap

Copyright © 2024 The Exchange Asia. All rights reserved. Powered by Web Design Malaysia.

Scroll to Top

Subscribe
FREE Newsletter