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Energy & Technology, News

Communications Minister Says Malaysia Ready to Roll Out Dual 5G Network

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KUALA LUMPUR: The Malaysian government remains committed to implementing a dual 5G network policy. Communications Minister Fahmi Fadzil said that telecommunication companies involved in the dual network model will complete the equity holding process in Digital Nasional Bhd (DNB) on 21 June. “Immediately after that, the process of identifying the telco that will develop the second 5G network will begin,” Fahmi stated on his Facebook page after a courtesy visit from China’s Minister of Industry and Information Technology, Jin Zhuanglong. During the 40-minute meeting, Fahmi said they discussed various telecommunications issues, including the implementation of the second 5G network. Fahmi said the development of the second network will only be open to telcos that have completed equity holdings in DNB. He said that while the implementation of the second 5G network is commercial in nature, the government through the Communications Ministry, decided on a dual network policy to drive competition and ensure the sustainability of the telecommunications ecosystem in Malaysia. “In addition, our discussion also focused on efforts to strengthen the relationship between the two ministries,” he added. According to Fahmi, the potential of ‘direct-to-cell’ technology involving low earth orbit satellites to help address internet connectivity issues in remote areas and placed with no internet access. — BERNAMA

News

Faiz Azmi appointed as SC chairman

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KUALA LUMPUR: The Securities Commission Malaysia (SC) has appointed Datuk Mohammad Faiz Azmi as the new executive chairman for a period of three years effective from June 16, 2024 to June 15, 2027. The Ministry of Finance (MoF) said in a statement that Mohammad Faiz Azmi will replace Datuk Seri Dr Awang Adek Hussin who will retire with effect from June 15, 2024. “This appointment is in line with Section 4(2) of the Securities Commission Act 1993 [Act 498],” it said. According to the MoF, Mohammad Faiz Azmi has extensive expertise and experience in finance, capital markets, audit and financial management. “Having graduated with a Bachelor of Law from Durham University and a member of several professional bodies such as the Institute of Chartered Accountants in England and Wales (ICAEW), Mohammad Faiz Azmi has experience as executive chairman of PwC Malaysia and chairman of the Malaysian Accounting Standards Board (MASB). “He has been a member of the SC board since Aug 15, 2023. Armed with his experience, he will be able to make excellent contributions to ensure that SC achieves its goal of becoming a high-performing organisation,” said the MoF. Finance Minister II Datuk Seri Amir Hamzah Azizan said the MoF is grateful to Awang Adek for his service at the SC and believed his expertise and experience would continue to benefit the country’s financial market. Under the leadership of Awang Adek, the SC has revamped two major capital market laws that are currently awaiting government approval, and introduced the Social Exchange, a fundraising platform dedicated to projects with positive social outcomes through mobilisation of private funds and philanthropists in meeting the needs of the less fortunate. – Bernama

News, Property

IOI Properties Opened a 4.05ha Central Park in IOI Resort City

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KUALA LUMPUR: IOI Properties Group Bhd (IOIPG) recently opened its 4.05-hectare (ha) Central Park in IOI Resort City, Putrajaya. Nestled adjacent to the Plam Garden Hotel and in close proximity to the 2.5 million sq ft IOI City Mall, this new park promises to become a vibrant hub for residents and visitors alike. IOI Resort City’s Senior General Manager (Property Management) Ho Kwok Wing described the park as a lifestyle landmark catering to families, fun-lovers and pet owners as it offers diverse sporting and waterfront amenities, including a pet-friendly zone with an obstacle course. “The Central Park is our latest offering, rounding out the recreational and leisure landscape of IOI Resort City. “We designed it to foster community interaction in a social space amid serene greenery, scenic lake views and engaging sports amenities,” he said. The park features an open lawn, playground, jungle track, floral green and various recreational spaces. Its sporting facilities encourage active lifestyles, including a skate and bike park as well as courts for basketball, badminton and futsal. Ho highlighted the park’s development aligning with IOIPG’s sustainability goals, providing ecosystem services like climate change mitigation, urban heat island reduction, flood prevention and biodiversity conservation. “In line with efforts to reduce carbon footprint and conserve existing plants, 71% of the trees in the park have been transplanted within IOI Resort City,” he said, adding that over one-third of the trees planted are vulnerable International Union for Conservation of Nature (IUCN) Red List tree species. He also noted that the park supports wildlife such as butterflies, dragonflies, reptiles, small mammals, fish, songbirds, waterbirds and raptors. “For more sustainable operations, the park uses a solar-powered light emitting diode lighting system. “IOIPG aspires to conserve the park for a long-term contribution towards United Nations Sustainable Development goals,” he said. The Central Park, managed by IOIPG is open to the public, residents and visitors without charge. IOI Resort City that spans 318.89 ha is IOI Properties Group’s flagship township development Putrajaya. Its latest residential offering, GEMS Residence, includes 676 condominium units developed with Mitsubishi Estate Residence to blend lifestyle living with community-based care. — BERNAMA

Energy & Technology

Avanade, EDOTCO Group Forge Multi-Year Digital Transformation Partnership

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KUALA LUMPUR: Axiata Group Bhd subsidiary, EDOTCO Group has partnered with Avanade, a top Microsoft solutions provider, to enhance its Quote-to-Cash operations using the Microsoft Dynamics 365 Finance and Operations (F&O) suite. Avanade stated that this multi-year, multi-million-dollar partnership aims to boost EDOTCO’s financial visibility, operational efficiency, and customer satisfaction. It said the transformation will enable EDOTCO to swiftly capture new customer segments and adapt to market changes and macroeconomic trends. EDOTCO is Asia’s leading digital connectivity infrastructure services company. Further, the statement added that Avanade’s advisory-led consulting approach will support EDOTCO in establishing a foundation for new offerings and navigating the digital transformation journey. “The initiative aligns with EDOTCO’s goal to be Asia’s leading digital connectivity provider,” it said. Avanade president for growth markets Bhavya Kapoor said that the company’s expertise in Microsoft Dynamics 365 would help EDOTCO enhance productivity and drive growth. “This is a first-of-its-kind solution for independent tower management companies and would help EDOTCO Group advance its mission to accelerate equitable next-generation connectivity,” he added. Meanwhile, EDOTCO chief executive officer Mohamed Adlan Ahmad Tajudin said the company’s collaboration with Avanade marks a significant leap forward in its digital transformation journey, specifically by streamlining its Quote-to-Cash operations across eight key markets. “This strategic move empowers us with greater agility and financial transparency. “This, in turn, unlocks new market opportunities, fuels sustainable growth and allows us to deliver exceptional customer experiences across our diverse portfolio. “Ultimately, this positions EDOTCO for long-term success in an ever-evolving market,” added Adlan.

ESG

Sika Malaysia Fosters Community Spirit by Improving School Environments Across Malaysia

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KUALA LUMPUR: Sika Malaysia, part of global leader Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protection in the building sector and automotive industry — partners with PINTAR Foundation, a not-for-profit organisation aimed at enhancing education for underprivileged students in both rural areas and urban poor communities across Malaysia, in conducting a gotong-royong drive benefiting schools throughout the country. The gotong-royong drive involved more than 400 Sika Malaysia employees and benefited five schools, consisting of more than 3,000 students and 250 teachers within Sika Malaysia’s operational regions. This initiative demonstrates the company’s efforts to enhance community involvement, promote environmental awareness, and create a safer, more conducive learning environment for the students.   “I am very pleased to see the enthusiasm and dedication of the employees who came to the ground and successfully carried out the gotong-royong drive, making a significant impact on the underprivileged students,” said Francisco Retondo, General Manager of Sika Malaysia. “I would like to thank PINTAR Foundation for collaborating with us to uplift the communities where we operate, reaffirming our commitment to societal and environmental stewardship. We look forward to fostering long-term benefits with PINTAR Foundation for the disadvantaged students in Malaysia.”   “We are grateful for the opportunity to collaborate with Sika Malaysia,” said Norzalina Masom, General Manager of PINTAR Foundation. “Our new partnership is a testament to our shared commitment to make a tangible difference in the lives of underprivileged communities. Together, we’re not only pooling resources but also magnifying our impact, ensuring a nurturing environment for the educational growth of underprivileged students throughout Malaysia.”   The benefiting schools include Sekolah Kebangsaan Dato’ Ahmad Manaf in Nilai; Sekolah Jenis Kebangsaan (T) Bukit Darah in Sungai Buloh, Selangor; Sekolah Kebangsaan Telok Gong in Telok Gong, Selangor; Sekolah Menengah Kebangsaan Jalan Pasir Puteh in Ipoh; and Sekolah Kebangsaan Taman Indahpura 2 in Kulai, Johor. Sika Malaysia also donated approximately 3,300 stationery sets to the students as a means to provide them with the basic schooling needs.   Sika Malaysia’s corporate social responsibility (CSR) initiative is part of Sika’s broader global community engagement with this year’s theme, ‘One Team. Many Voices. Going Beyond Together’, observed on Sika Day, held annually on 11th June. This CSR initiative has brought together over 33,000 employees worldwide to participate in various activities, achieving 10,000 days of community engagement worldwide that aid local communities and create lasting benefits for generations to come. 

Investment & Market Trends, News

Positive View on DRB-Hicom Remains Due to Proton’s Growth

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KUALA LUMPUR: Hong Leong Investment Bank (HLIB) remained positive on DRB-HICOM Bhd’s long-term outlook on potential growth driven by Proton subsidiaries amid increasing market competition. In a research note, HLIB said that Proton is targeting to achieve 2024 sales of 160,000 units against 151,000 units in 2023, through new models introduced and attractive promotional campaigns. “Proton has recently launched the updated X50 RC with good discounts and is expected to launch another X70 facelift soon, along with introducing a new electric vehicle (EV) model by the end of the year in line with management’s target of one new model launch per annum,” it said. HLIB said the DRB-Hicom management brushed aside the potential market competition from Zeekr’s entry into the Malaysian market, given the different market segment, where Zeekr would be positioned as a higher premium segment than Proton’s e.MAS EV. Zeeker is a publicly listed Chinese automobile company and the brand is owned by Geely Automobile Holdings. HLIB also said that Bank Muamalat and CTRM would continue supporting DRB-Hicom 2024’s performance. “We reiterate our ‘buy’ rating with an unchanged target price (TP) of RM1.65 based on a 20% discount to sum-of-parts (SOP) RM2.04,” said the research firm. Additionally, Kenanga Research also maintained its ‘market perform’ call on DRB-Hicom with a SOP-derived TP of RM1.40. The research house said it likes the company for being the second largest player in the local automotive sector, second only to Perodua, with a market share of about 30% and its strong Proton and Honda franchises as well as its improving banking franchise under Bank Muamalat. “However, DRB-Hicom’s outlook has weakened with Rival Perodua turning up the heat with aggressive new launches, coupled with earnings drags from certain non-performing units,” it said. Kenanga Research said the risks to its call include consumers cutting back on discretionary spending amidst high inflation and persistent disruptions in the global supply chain. “Other risks also include a slowdown in capital market activities and a global recession hurting the demand for transport and aviation services,” it added. — BERNAMA

Investment & Market Trends

Marrybrown Continues to Amplify International Presence with Expansion to Cambodia and Uzbekistan

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KUALA LUMPUR: After its first foray in the land down under, Marrybrown, the largest homegrown Halal Quick Service Restaurant (QSR), expands its footprint across Asia through an MoU signing with SP QSR and Food Services Co. Ltd and Gemilang International Limited, officiating its partnership for the opening of new Marrybrown outlets in Cambodia and Uzbekistan! With over 40 years of franchising experience, Marrybrown aims to strengthen its international presence by opening more than 30 new outlets in Cambodia and Uzbekistan over the next five years. The rising demand for halal food presents an excellent opportunity for Marrybrown to introduce its signature crispy chicken and innovative meals infused with Malaysian flavours to these high-tourism regions.   “Our collaboration with these companies aligns perfectly with our international expansion plans. Given their extensive experience and deep knowledge of the local markets, we are optimistic that this partnership will be highly successful. This move will allow us to deliver unique dining experiences and high-quality service to new audiences,” said Dato’ Joshua Liew, Group Executive Director of Marrybrown.   Following the MoU, Marrybrown is set to launch its first outlet in Phnom Penh, Cambodia. This marks a significant milestone in establishing a new presence in Cambodia, where Marrybrown will serve its signature menu items such as crispy chicken, Nasi Lemak MB, and other beloved meals. The expansion aims to cater to the growing demand for halal-certified food options within the local community and introduce them to the unique flavours of Malaysia.   Similarly, the opening of the first Marrybrown outlet in Uzbekistan will be in Tashkent City. This exciting development will bring more halal and delicious options to the residents of Uzbekistan, marking an important step in Marrybrown’s international expansion. The new outlet will offer a diverse range of menu items, catering to the tastes of local food enthusiasts and ensuring that Marrybrown’s high standards of quality and service are maintained. “As the demand for halal-certified food grows, Marrybrown recognises the need for more diverse dining options within communities. This expansion to Phnom Penh, Cambodia and Tashkent City, Uzbekistan, presents a prime opportunity to introduce our halal Malaysian flavours to new markets,” assured Dato’ Joshua. Marrybrown currently serves millions of customers in more than 500 restaurants across 16 countries with the objective of delivering the highest standard of quality, service, cleanliness, and value for the perfect dining experience.

Energy & Technology, Investment & Market Trends, News

Simpor Hibiscus to Acquire TotalEnergies Brunei for RM1.22 Bil

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KUALA LUMPUR: Hibiscus Petroleum Bhd’s indirect wholly-owned subsidiary Simpor Hibiscus Sdn Bhd has entered into a conditional share purchase agreement with Total Energies Holdings International BV to acquire the entire equity interest in TotalEnergies EP (Brunei) BV for RM1.22 billion. The group noted that TotalEnergies was incorporated in the Netherlands and is operating via its branch in Brunei Darussalam with its principal activity being hydrocarbon exploration and production. It also owns a 37.5% operated interest in Block B Maharajalela Jamalulalam (MLJ) field. Hibiscus Petroleum said in a filing with Bursa Malaysia that the MLJ field is a high-quality gas asset located offshore Brunei. “Located in a prolific hydrocarbon-bearing region, the asset was discovered in 1989 and has been producing gas and condensate since 1999. The asset has long-term production rights of up to 15 years (expiring on 23 Nov 2039) if extended with the agreement of the joint venture parties. “Other parties holding the remaining interest in the asset are Shell Deepwater Borneo Ltd (35%) and Brunei Energy Exploration Sdn Bhd (27.5%), a company ultimately owned by Brunei Minister for Finance Corporation,” it said. The group said the funding of the proposed acquisition is expected to be sourced from a combination of internally generated funds and its existing debt or other facilities. Hibiscus Petroleum said this asset is expected to add a net of up 21.7 million barrels of oil equivalent (MMboe) to the group proven and probable (2P) oil reserves, an increase of 36% from 60.9 MMboe to 82.6 MMboe as of 1 January 2024, while a total daily net production of oil, condensate and gas is expected to increase by circa 7,865 boe per day from 21,398 boe per day to 29,263 boe per day in calendar year 2024. This is expected to bring the gas production share of the group’s portfolio to almost 50%, in line with the group’s energy transition strategy of acquiring gas-weighted assets in stable regulatory jurisdictions. “This transaction also represents a significant step towards fulfilling the group’s aspiration of becoming a net zero emissions producer by 2050. The group is set to gain multiple benefits from the proposed acquisition. “Beyond acquiring a well-established gas asset in Brunei and taking over its operations, the proposed acquisition further strengthens the group’s position as an independent exploration and production (E&P) player in the region,” it said. Hibiscus Petroleum Managing Director Dr Kenneth Pereira said the additional volumes from this transaction are material for the group and will provide an uplift of nearly 86% to gas production while bringing the company closer towards achieving the 2026 mission of growing the group’s net production to 35,000 to 50,000 boe per day. “In addition, employees of TotalEnergies Brunei will be joining the group as part of the transaction. They bring with them a wealth of knowledge and experience. “We look forward to working together to enhance the value of the asset safely and efficiently for all stakeholders. Most importantly, we are excited by the opportunity to work with our joint venture partners, Shell Deepwater Borneo, Brunei Energy Exploration as well as the government of Brunei,” he said. — BERNAMA

Investment & Market Trends, News

KL’s Startup Ecosystem Generates More Than RM220 Bil in Value Over 3 Years

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KUALA LUMPUR: The startup ecosystem in Kuala Lumpur has generated more than RM220 billion (US$47 billion) in ecosystem value from 1 July 2021 to 31 December 2023, said Cradle Fund Sdn Bhd. The agency – operating under the Finance Ministry and administered by the Ministry of Science, Technology and Innovation (MOSTI) –  said that the ecosystem value measures the city’s economic impact from the value of exits and startup valuations. In a statement, Cradle said that KL also received recognition in the latest Global Startup Ecosystem Report (GSER) 2024, placing it among the top 30 emerging ecosystems, which reflects its rapid growth and substantial economic impact. Its Group Chief Executive Officer Norman Matthieu Vanhaecke said these achievements underscore the efforts and strategic initiatives to foster a conducive environment for startups. “Malaysia views startups as a pivotal force in driving local innovation and technological advancement. Cradle seeks to combine the resources and experiences of all ecosystem stakeholders. “With a consistent commitment to cultivating a high-performing, inclusive, globalised and sustainable ecosystem, Cradle envisions propelling Malaysia to the forefront of the global startup ecosystem,” he said. According to the GSER 2024 report, Kuala Lumpur’s ecosystem has also received notable rankings in several key areas within Asia, namely the Top 15 Asia Ecosystems in Funding, the Top 20 Asia Ecosystems in Performance and the Top 20 Asia Ecosystems in Talent and Experience. — BERNAMA

Investment & Market Trends, News, Property

MTDC to Focus on Large-Scale Development, Increased FDI in Johor

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ISKANDAR PUTERI: Large-scale development and increased foreign investments in Johor are the focus of the Malaysian Technology Development Corporation (MTDC) in organising the first instalment of Road2Growth (R2G) Southern Region this year. Chief Executive Officer Mohamad Hazani Hassan said Johor’s rising stature as a strong economic state is one of the reasons MTDC is eager to introduce its technology, innovative solutions in Industry 4.0 (IR4.0) and digitalisation to the participants at R2G Southern Region. “Over the past few years, the growth in Johor has been phenomenal with large-scale development and increased foreign investments making Johor their port of call. “We highly encourage entrepreneurs, especially those from Johor, to seize this unique opportunity to further expand your business,” he said. He also mentioned that in the R2G programme in Johor, participants were able to choose from any of the 7 tracks, specifically on commercial funding, developmental funding, ecosystem partnerships, business and technology consulting training, talent development and business innovation. Speakers include representatives from Bursa Malaysia Bhd, Malaysian Industrial Development Finance Bhd (MIDF), SME Bank and the Ministry of Science, Technology and Innovation (MOSTI). “Overall, MTDC’s R2G aims to offer valuable insights and make the right support and resources available to Malaysian technopreneurs to compete on a global level so that they may continue significantly to the technological advancements and the economic growth of the country,” he added. Additionally, MTDC is looking to increase its investment in Johor, especially in companies supporting data centres. “In Johor, MTDC has invested and funded 65 companies with a total of RM110.9 million and 2 of these companies have been listed on Bursa Malaysia. “The state is currently a hot spot with the introduction of many data centres so we are looking at that potential for investing,” said Hazani. According to him, MTDC did not set any specific target for growth in investment in the state but is actively looking at early stage technology companies. “We want to create the ecosystem that supports the supply chain. It can be in the energy area because data centres are power hungry, or even blockchain,” he added. — BERNAMA

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