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

Investment & Market Trends

MATRADE and Amazon Sign Memorandum of Understanding (MoU) To Empower Malaysia SMEs To Go Global

/

KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) and Amazon announced that they have entered into a Memorandum of Understanding (MoU) to bolster export capabilities of small and medium-sized enterprises (SMEs) in Malaysia. Under the agreement, both parties will join forces to spearhead the “Go Global with Amazon and MATRADE” initiative which will help Malaysia brand owners and sellers seize cross-border business opportunities with Amazon Global Selling. Amazon Global Selling helps businesses from anywhere in the world to launch a global business, build international brands and reach Amazon’s hundreds of millions of worldwide active customer accounts. MATRADE and Amazon will partner to raise awareness and provide essential knowledge about cross-border e-commerce to Malaysia brand owners and sellers. Amazon Global Selling will share insights and expertise, facilitate training workshops, and guide businesses through the Amazon seller journey, including account registration, product preparation, listing, shipping, advertising, and more. MATRADE and Amazon will work closely to showcase success stories of Malaysia-based sellers selling overseas on Amazon – such as in the U.S. and EU stores, inspiring and motivating other local small business owners to start their cross-border business with Amazon Global Selling. In addition, MATRADE will support and promote Amazon Global Selling’s training activities to relevant local entities, including businesses, authorities, and business associations to foster greater participation. The MoU will strengthen and open new opportunities for MATRADE and Amazon’s collaboration which first started in 2021. The latest joint initiative took place in April 2024 in Kuala Lumpur and consisted of an in-person seller workshop which saw strong participation from Malaysia sellers. “We are thrilled to partner with Amazon in our efforts to empower Malaysian SMEs in international markets,” said Dato’ Seri Reezal Merican Naina Merican, MATRADE Chairman who witnessed the MoU Exchange today. “This MoU highlights our commitment to helping them, leverage e-Commerce in expanding their global footprint. Together with Amazon, we aim to provide Malaysian SMEs with the essential tools, knowledge, and support to succeed in today’s competitive global marketplace.” Anand Palit, Head of Amazon Global Selling in Southeast Asia, said, “We are excited to strengthen our collaboration with MATRADE to empower Malaysia SMEs to leverage Amazon’s global reach. We are observing a growing interest from Malaysia sellers to sell overseas with Amazon. In fact, the number of new Malaysia sellers selling their products overseas through Amazon Global Selling nearly doubled in the January-April 2024 period compared to the same period the year before. The MoU with MATRADE will provide Malaysia brand owners with the knowledge, resources, and support they need to seize cross-border business opportunities as Amazon sellers.” Amazon’s global infrastructure and resources to help sellers sell overseas Amazon is continuously investing in logistics, tools, services, programs, and people to foster the growth of sellers’ businesses on Amazon worldwide. Globally, more than 60% of sales in the Amazon store come from independent sellers—most of which are small and medium-sized businesses. Amazon has 23 stores globally and can ship products to customers in over 200 countries and territories. Through Amazon services like Fulfillment by Amazon (FBA), sellers can scale their business more easily with Amazon helping them store, pick, pack and ship their products, while also taking care of customer service and product returns. With Supply Chain by Amazon, an end-to-end, fully automated set of supply chain services, sellers can quickly and reliably move products from manufacturing locations to customers around the world. Amazon provides tools to sellers such as the Customer Loyalty Analytics Dashboard and Brand Tailored Promotions which can help provide upsell and retention capabilities tailored to different customer segments and build stronger relationships with customers and boost brand and product-level loyalty. Amazon constantly listens to selling partners’ feedback to innovate to improve the seller experience. For example, in order to reduce time spent on generating accurate listings, a set of generative AI capabilities have been launched to make it faster and easier for sellers to list new products.

Energy & Technology, News

Axrail Partners with AWS, Phison to Open Gen AI Lab in Malaysia

/

KUALA LUMPUR: QL Resources Bhd’s subsidiary, Axrail, which is an Amazon Web Services (AWS) Advanced Tier Services Partner in Malaysia has opened a Generative Artificial Intelligence (Gen AI) Lab in Malaysia and Southwest Asia showcasing cloud and edge solutions to support the growing demand for AI solutions and the nation’s digital economy aspirations. The Gen AI Lab pools the expertise of AWS, Phison and Axrail in one collaborative hub and it showcases cutting-edge cloud solutions powered by AWS, including those built on Amazon Bedrock, alongside on-premise innovation with Phison’s innovative aiDAPTIV+ technology. “Gen AI Lab caters to the evolving needs of businesses seeking a fast-tracked and scalable path to AI adoption and positions Axrial at the forefront of delivering comprehensive, end-to-end generative AI solutions for both cloud and on-premise environments,” Axrail said. Its Founder and Chief Executive Officer (CEO) Kelvin Kok said the company is looking at accelerating AI adoption, especially among Malaysian SMEs, leveraging the upcoming AWS region in Malaysia for data residency, low latency and robust cloud services across Southeast Asia. “This innovative sandbox will empower businesses to reimagine operations through AI, delivering measurable outcomes and future-proofing their approach,” he said. Meanwhile, Phison Electronics CEO Datuk KS Phua said the company, together with Axrail will also accelerate Malaysia’s AI digital transformation while providing the added assurance of data confidentiality. “In the future, Phison will continue working with Axrail to expand cooperation in storage and AI applications,” he added. Located within Axrail’s 3,000 sq ft Centre of Excellence for AI solutions, the Gen AI Lab fosters responsible experimentation and co-creation of generative AI applications. The Lab is designed to accelerate businesses’ AI readiness by helping them build capabilities to extract value from data and increase operational efficiency across various functions. — BERNAMA

News

Sanofi Vietnam to Expand Green Spaces

/

HO CHI MINH CITY: On the occasion of World Environment Day and the action month for the environment, Sanofi-Aventis Vietnam Co Ltd (Sanofi Vietnam) in partnership with Gaia Nature Conservation Centre (Gaia) launched a project called “Expanding Green Spaces for HCM City” for the 2024-2026 period. This cooperative endeavour aims to improve the urban environment and promote sustainability by planting 100 trees at selected schools throughout the city. Ho Chi Minh City faces a concerning lack of green spaces, with only 0.55 sq m of greenery per person, far below the government’s recommended standard of 15 sq m. Many schools in the city require more green spaces, as children and teachers frequently want more shade to avoid bright sunshine and a fresh learning environment. Therefore, this project seeks to establish a healthy learning environment that benefits both teachers and students’ physical and mental health. In addition, the initiative creates student-led tree planting clubs, arranges tree learning competitions, and encourages more than 4,000 students to participate in all project activities such as tree planting, monitoring and maintenance. This year, Sanofi Vietnam and Gaia will plant 27 trees in four schools in District 12, engaging thousands of students and teachers. The trees selected by Gaia are fast-growing and will be carefully nurtured for the first two years. After that, the responsibility will be handed over to the schools and Gaia will periodically monitor them to ensure their continued growth. — Viet Nam News/ANN

Investment & Market Trends, News, Property

LBS Bina’s Unit Disposing Entire Stake in Lamdeal Investments for RMB192.18 Mil

/

KUALA LUMPUR: LBS Bina Group Bhd’s (LBGB wholly-owned subsidiary in Hong Kong, Dragon Hill Corporation Ltd is disposing of its entire equity interest in Lamdeal Investments Ltd (LIL) to Huafa Urban Operation (HK) Ltd for RMB192.18 million (RM124.76 million). LBGB said under the deal, Huafa Urban shall also settle the outstanding loan owned by LIL to LBGB and its subsidiaries totalling RMB27.82 million (RM) upon the completion of the disposal and the handover of management rights to the Zhuhai International Circuit Ltd (ZICL) no later than 31 October 2024. LIL owns a 60% interest in ZICL which operates China’s first permanent motor racing circuit in Zhuhai City, Guangdong Province. LIL Group was acquired by Dragon Hill on 7 November 2013, with the original cost of investment of US$1. As of 31 December 2023, the net book value of LIL Group is approximately -RM54 million. LBGB said the disposal of LIL would provide an opportunity to monetise its investments and focus on other opportunities. :LIL Group has experienced yearly losses mainly caused by the amortisation of the land and the racing circuit has encountered increasingly tough challenges due to increasingly stringent sustainability compliance requirements. “These challenges include addressing noise-related issues where compliance with these regulations necessitates significant operational adjustments,” said LBGB. The disposal will result in a pro-forma gain of approximately RM80 million, calculated based on the group’s latest consolidated audited financial statement for the financial year ended 31 December 2023 (FY2023) thus improving its net asset by approximately 10%. “This gain is expected to be recognised in FY2024. The proposed disposal is in line with LBGB’s strategy of preserving capital value and strengthening the balance sheet via realising cash resources, which can then be deployed in other projects and investments to maximise returns or for repayment of borrowings,” it said. — BERNAMA

Investment & Market Trends

Hiap Huat Inks RM100Mil Liquid Bulk Storage Terminal at West Port

/

KUALA LUMPUR: KL Bunkering Sdn Bhd, a joint venture between Bursa Malaysia-listed Hiap Huat Holdings Bhd (HHH) and KL Platform Services Sdn Bhd (KLPS), has commenced the construction of an RM100 million liquid bulk storage terminal at West Port in Port Klang. This deal comprises a 46+12-year land lease agreement obtained from Westports Malaysia Sdn Bhd, a subsidiary of Westports Holdings Bhd. This development responds to Malaysia’s increasing demand for liquid bulk storage and underscores KL Bunkering’s commitment to environmental sustainability and innovative industry practices. The new terminal, set to be a game-changer in the industry, will occupy a strategic location at West Port. This prime positioning will enable the terminal to capitalise on West Port’s superior connectivity and access to local and international markets. The facility will feature a storage capacity of 123,800 cubic meters spread across 41 vertical storage tanks. It is designed to accommodate various products, including petroleum, petrochemicals, and biofuels, ensuring versatile and comprehensive storage solutions for various industrial needs. HHH managing director Datuk Chan Say Hwa expressed his enthusiasm for the project. “We are thrilled to embark on this ambitious project, which represents a significant milestone for the HHH group and the Malaysian liquid bulk storage landscape. “Our commitment to green practices, combined with our strategic location and cutting-edge technology, will position us as one of the leaders in the industry while contributing to a more sustainable future,” he said in a statement. Through several key initiatives, the terminal will embody KL Bunkering’s dedication to environmental stewardship. It will employ certified sustainable products as the primary heating source, significantly reducing the environmental impact. In line with global sustainability trends, the focus will also be on storing environmentally friendly products such as biofuels and materials related to the circular economy. This approach minimises ecological footprints and supports the transition towards a greener and more sustainable industry. In addition to its environmental initiatives, KL Bunkering has established a strategic partnership with Qastalani Sdn Bhd, a leading player in the Malaysian bitumen market. This partnership includes a 46-year collaboration agreement for approximately 38 per cent of the first phase capacity, with an option to expand to 40,000 cubic meters. This collaboration highlights the strong market confidence in KL Bunkering’s capabilities and the project’s potential. The terminal’s development will be executed in three planned phases, with an estimated capital expenditure of approximately RM100 million over five years. The first phase is anticipated to be operational by the fourth quarter of 2025. This phased approach ensures a robust and scalable development process, allowing KL Bunkering to effectively meet the growing storage demands. With a seasoned management team boasting extensive experience in the maritime and oil and gas industries, KL Bunkering is well-equipped to navigate the complexities of this ambitious project and deliver exceptional value to its stakeholders.

Investment & Market Trends, News, Property

EcoWorld Malaysia 2Q Net Profit Rises as Demand Increases

/

KUALA LUMPUR: Eco World Development Group Bhd (EcoWorld Malaysia) posted a higher net profit of RM70.05 million in the second quarter ended 30 April 2024 (2Q24) from RM62.69 million in the same quarter last year. Revenue rose 32.1% to RM555.76 million from RM420.82 million due to higher contributions from active and newly launched phases of its property projects. EcoWorld Malaysia noted that Eco Botanic, Eco Spring, Eco Tropics, Eco Business Park I and Eco Sanctuary in the Klang Valley were among the projects that contributed to revenue and gross profit in 2Q24. Its President and Chief Executive Officer Datuk Chang Kim Wah said the group achieved RM2.18 billion in sales in 7 months of the 2024 financial year (FY), fuelled by robust demand for its projects in Iskandar Malaysia which contributed 61% of the group’s total year-to-date sales. “From a segmental perspective, all four of the group’s revenue pillars, including Eco Townships, Eco Rise, Eco Hubs and Eco Business Parks performed strongly. “Sales of residential homes under our Eco Townships pillar remain the largest segment with RM855 million recorded, of which 90% comprised upgrader homes priced above RM650,000,” he said. Chang also noted that as its projects mature, backed by consistently strong sales, its ability to generate cash grows. “In the first half of FY2024, the group generated RM470 million cash from operating activities, more than 3 times our net profit for the same period. “As a result, our cash balance including deposits and short-term funds rose to RM1.44 billion – its highest level to date – reducing our net gearing ratio to 0.24 times,” he added. According to EcoWorld, it is well-placed to acquire more land and is seeking, particularly under its Eco Townships, Eco Business Parks and Eco Rise pillars. It also aims to broaden its market share under every property market segment and to sustain growth. — BERNAMA

News, Property

WCT Unit Wins Expressway Lane Expansion Contract Worth RM249.74 Mil

/

KUALA LUMPUR: WCT Holdings Bhd’s wholly-owned subsidiary, WCT Bhd has secured a contract to undertake works for additional lanes for the North-South Expressway expansion project from Yong Peng (North) to Senai (North) Phase 1: Senai (North) – Sedenak (Package A) worth RM249.74 million. WCT Holdings said its unit has received a letter of acceptance dated 14 June 2024 issued by Projek Lebuhraya Usahasama Bhd. The works under the contract encompass site clearance, demolition works, earthworks, drainage works, pavement works, road markings, road furniture, geotechnical works, bridge structures, environmental protection works, relocation of utilities, road lighting system and extension of vehicular box culvert. “The works under the contract are expected to be completed within 36 months from 28 June 2024, the date of commencement,” it said in a filing with Bursa Malaysia. — BERNAMA

News

RM24.2mil fraud: BNM requests prompt refunds to all affected account holders

/

KUALA LUMPUR: Bank Negara Malaysia (BNM) has requested prompt refunds to all affected account holders following the fraudulent withdrawals of fixed deposits amounting to RM24.2 million. The central bank said it takes a serious view of the recent reports that large-scale unauthorised cash withdrawals arising from the collusion of financial institution employees with external parties. “The integrity of individuals working in financial institutions is paramount,” BNM said today in response to Bernama’s queries on the recent unauthorised withdrawals case. To date, police have detained 14 individuals, including four bank employees to assist in the investigation of the fraudulent withdrawals of RM24.2 million from several fixed deposit accounts. The police received four reports from account holders and bank staff in early June in Petaling Jaya, Selangor, after the victims noticed suspicious cash withdrawals from their fixed deposit accounts in Kota Kinabalu, Sabah. BNM said it requires all financial institutions to put in place strong controls to safeguard and protect customers’ funds and the integrity of the financial system. “This includes, for instance, the requirement for financial institutions to enforce a strong code of ethics. “Financial institutions must also conduct thorough checks and screening of potential employees before hiring them,” it said. The central bank said individuals with records of fraud and dishonesty are banned from working in any licensed financial institution. It also reminded that any institution involved in such investigations must give its full cooperation to the relevant law enforcement authorities, and take strong remedial or disciplinary actions based on the findings of internal investigations. “BNM advises consumers to immediately report any unauthorised or suspicious transactions to their banks or the National Scam Response Centre (NSRC) at 997 upon discovery, as well as to the police,” it added. – Bernama

News, Property

Genting Eyes US$8.5 Bil Revenue From Gas-Fired Power Plant Project in China

/

KUALA LUMPUR: Genting Bhd is eyeing to generate about US$8.5 billion in revenue over the next 25 years from the gas-fired power plant in ZhouShan, Greater Shanghai Area in the Zhejiang Province, China, which it has proposed to acquire. Genting, through its indirect unit Genting MZW Pte Ltd, proposed to acquire a 49% equity interest in SDIC Jineng (ZhouShan) Gas Power Generation Co Ltd, which is developing a 2×745-megawatt (MW) gas-fired power plant in ZhouShan for 100 million yuan (RM64.87 million). Genting President and Chief Operating Officer Datuk Seri Tan Kong Han said the group aims to generate US$343 million annually starting in the year 2026 as the power plant is estimated to be completed by end-2025. He said the company is looking forward to investing more in the green energy sector even though the segment currently does not contribute significantly to its revenue. “If you look at our last annual report, the leisure and hospitality sectors contributed about US$4.9 billion in revenue, whereas the power as well as oil and gas divisions currently or at least at the end of last year, contributed only US$365.7 million. “So it is a small fraction of the business contribution, but just looking at the current gas prices, that could bring us around US$1.3 billion in revenue and it suddenly becomes a big number. “That is why we are excited and spending a lot of time and energy in this space,” he said. The gas-fired power plant is one of the 3 key H-class projects listed in the 14th 5-Year Plan of Zhejiang Province. “It uses an H-class gas turbine manufactured by GE Vernova Inc, which is the most efficient gas turbine in the world and the project is expected to be the first H-class unit to operate within the Zhejiang Province when it achieves commercial operation in the fourth quarter of 2025,” it added. — BERNAMA

Events

ARCHIDEX 2024 Pioneers Future Architecture and Construction in Malaysia

/

KUALA LUMPUR: Asia’s leading architecture business event will reconvene at the Kuala Lumpur Convention Centre from 3-6 July. Organised in conjunction with the Kuala Lumpur Architecture Festival (KLAF), ARCHIDEX will bring together top industry professionals and leading brands to shape a sustainable future in architecture. With less than a month to go, ARCHIDEX is set to be the largest and most influential edition yet, expecting to welcome close to 700 exhibitors and an anticipated 40,000 visitors from 100 countries. As an integral part of the annual KLAF, jointly organised with the Malaysian Institute of Architects (PAM), ARCHIDEX aims to modernise the industry and nudge the eco-system to leverage next-gen technology towards creating sustainable infrastructure and the built environment. It will bring together top industry professionals to explore the dynamic intersection of design technology and environmental stewardship. This year, ARCHIDEX will power the transformative potential of trailblazing technologies that can drive industry growth and create infrastructure and a built environment that is sustainable and community-driven. ARCHIDEX also captures the confident optimism the nation possesses, driving creative solutions and regional cooperation as the government embarks on an initiative to modernise the infrastructure and built environment. These initiatives emphasise innovative and nature-inspired materials, digital technologies, construction processes and design strategies that prioritise net-zero energy buildings and carbon-neutral developments. ARCHIDEX will feature six dedicated pavilions from Austria, China, Germany, Singapore, South Korea, and Taiwan, fostering collaboration and signifying opportunities for bilateral trade and business transactions. By hosting these international pavilions, ARCHIDEX positions Malaysia as a central hub for sourcing advanced and specialised technologies within the architecture and construction sphere, eliminating the need for regional professionals to travel overseas and creating a convenient platform for sourcing the expertise of leading international brands. This year’s exhibition emphasises the role of AI in transforming the architecture and construction industries. A highlight of ARCHIDEX is its design installations, renowned for their engaging spatial experiences for architects, designers, and visitors. These installations showcase exceptional craftsmanship, demonstrating how architects and designers push creative boundaries, challenge conventions, and collaborate with exhibitors to highlight their materials and solutions. This year, in a nod to Malaysia’s culture and heritage, ARCHIDEX will host an installation featuring bamboo, a versatile and sustainable material, inviting visitors to explore Malaysia’s ecosystems and reconnect with nature. Recognising the vital role that young architects and designers play in shaping the built environment, ARCHIDEX 2024 features programmes such as the ARCAsia Committee for Young Architects (ACYA) to nurture young architects, and the Asian Young Architects Programme, which provides a unique opportunity for ten promising young architects from ten different Asian countries to exhibit their work. Additionally, the event will host a full-day forum and networking “Teh Tarik” session, for practising architects. Student architects will also be highlighted through ARCHITALENT, with ten finalists chosen from over 40 submissions from 8 countries this year.

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