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KUALA LUMPUR: Radium Development Bhd (RDB) (Radium) has declared the first single-tier interim dividend of 1.00 sen per share to its shareholders following a year of positive earnings growth and strategic accomplishments. The property developer, in a statement, said the dividend was for the financial year ending December 31, 2024 (FY24), reflecting the company’s robust revenue growth and unwavering commitment to delivering value to its shareholders. Radium reported an unaudited profit before tax (PBT) of RM19.80 million for FY23, showcasing the company’s ability to generate substantial earnings amidst a competitive market landscape. The company is also maintaining a low gross gearing ratio of 0.05 times, which underscores RDB’s prudent financial management practices and solid financial foundation, positioning the company for sustained growth and stability in the property development sector. Group managing director Datuk Gary Gan Kah Siong said the company’s successful financial performance and strategic investments have enabled it to not only meet commitments but also reward shareholders for their continued support. “The announcement of the first single-tier interim dividend reaffirms RDB’s financial strength and capacity to deliver sustainable value to its stakeholders. “With a focus on financial prudence and strategic growth initiatives, RDB remains at the forefront of the property development sector in Malaysia,” he said in a statement. RDB’s strategic land acquisition at Old Klang Road and successful project launches such as Vista Adesa @ Desa Timur and Radium Adesa @ Desa East Residences have been pivotal in driving growth and enhancing shareholder value. The high take-up rates for Vista Adesa and Radium Adesa projects, at 60 per cent and 78 per cent respectively, demonstrate strong market demand and confidence in RDB’s developments. The alignment of the Vista Adesa project with the government’s homeownership strategy, supported by the Housing Credit Guarantee Corporation (HCGS) loan programme, highlights RDB’s strategic partnerships and commitment to providing accessible property solutions. Furthermore, RDB’s collaboration with MyCharge EV Sdn Bhd to integrate electric vehicle (EV) chargers in its developments showcase the company’s dedication to environmental sustainability and innovation.

KUALA LUMPUR: RHB Bank Bhd has inked an agreement to provide a sustainability-linked facility (SLF) of RM90 million to Intercontinental Specialty Fats Sdn Bhd (ISF), a wholly-owned subsidiary of The Nisshin Oillio Group Ltd (NOG). Under the SLF terms, ISF will enjoy rebates upon achieving the pre-agreed sustainability performance targets (SPTs). These SPTs drive significant and measurable progress in key areas of ISF’s operations, supply chain engagement and client requirements, contributing to a more sustainable palm oil industry. RHB Banking Group group managing director and group chief executive officer Mohd Rashid Mohamad said the bank is committed to driving the adoption of sustainable practices across its business and operations. “The SLF extended to ISF not only embodies our shared vision of sustainable development but also solidifies RHB’s role as a catalyst of positive change, through collaborative efforts and mutual commitment to sustainability and financial success. “We are delighted to have the opportunity to support ISF on its sustainability journey and business growth through this SLF,” he said in a statement. The NOG is Japan’s largest edible oil manufacturer, while ISF is one of the leading specialty fats and oils manufacturers. ISF chief executive officer Takashi Ishigami said this partnership exemplifies the company’s shared commitment to sustainability and environmental, social, and governance (ESG) principles, empowering the advancement of impactful initiatives for a greener and more inclusive future. “Together, we are driving positive change and building a more sustainable world,” he said. The initiative also aligns seamlessly with RHB’s broader sustainability strategy. “As part of our ‘Together We Progress’ commitment, we remain steadfast in assisting our clients in achieving their sustainability goals. “Our collaboration with ISF exemplifies our unwavering support for companies prioritising ESG principles. “We look forward to making progress together with ISF, paving the way towards a more sustainable and low-carbon future,” Mohd Rashid said.

KUALA LUMPUR: Integrated palm oil milling services provider, Ecoscience International Bhd (EIB), through its wholly-owned subsidiary Ecoscience Manufacturing & Engineering Sdn Bhd (EME), signed a collaboration agreement (CA) with Maatschappij Wilhelmina N.V. (MWNV) for the engineering, procurement, and construction (EPC) work of a nominally 15 metric tonne per hour TG2 black pellet plant in Kawasan Perindustrian Gebeng Fasa III, Mukim Sungai Karang, Kuantan, Pahang. Under the CA, MWNV will finance, own and operate the TG2 black pellet plant. The Dutch renewable energy company intends to engage EME as the contractor to undertake the EPC work for the plant and manufacture certain structures, components, and equipment to be incorporated into the plant. Upon finalising details, both parties will execute a definitive EPC and master manufacturing agreement, which is expected by the fourth quarter of 2024. MWNV will outsource the operation and maintenance (O&M) of the TG2 black pellet plant to EME, formalising this through an O&M agreement. MWNV co-founder and chief executive officer Barthold van Doorn said the company’s goal is to operate with a carbon-neutral impact. “We see tremendous opportunities in generating renewable and carbon-neutral energy through recycling industrial agricultural waste streams. “We are primarily focused on the Southeast Asia region and Malaysia ticked all the boxes for us to locate our first plant,” he said in a statement. Based in the Netherlands, MWNV’s principal business activity is converting agricultural waste streams into sustainable energy in the form of TG2 black pellets. The plant converts agricultural waste, such as empty fruit bunch (EFB), into TG2 black pellets, which are a drop-in-coal replacement fuel. “This is why we chose Malaysia as the location for our plant. In fact, this TG2 black pellet plant, which will use EFB as feedstock, will be the first of its kind in the world. “As the second largest producer of palm oil globally, we understand Malaysia generates some 20 million tons of EFB waste a year. “Instead of being left to decay or fill up landfills, these can be transformed into a clean and high-energy coal replacement that could reduce as much as 12 million tons of methane, equivalent to 300 million tons of CO2. This can certainly contribute to the Malaysian government’s target of becoming a carbon-neutral nation by 2050,” Barthold said. He said MWNV’s investment in Malaysia is only the first step in its overall strategic expansion plan. “We have earmarked a number of locations in Malaysia and Southeast Asia to establish more TG2 black pellet plants that will also use other agricultural wastes, such as coconut husks and rubber tree wood, as feedstock,” Barthold added. EIB managing director Wong Choi Ong said the TG2 black pellet plant is expected to be the largest project in the company’s history. “In addition, we see this as a sizeable foreign direct investment into Malaysia. Besides taking on the EPC role, we are expected to also operate, maintain and manage the plant for MWNV upon commissioning. “The plant is expected to give our orderbook a significant boost, as well as provide consistent recurring income to our Group in the future,” he said. Wong said the EIB is also contributing to the country’s sustainability cause through its expertise. “This reflects our commitment to sustainable energy production and reducing greenhouse gas emissions. “On balance, we are upbeat on our company’s prospects and we certainly look forward to continuing our support for MWNV as they build more TG2 black pellet plants in the region,” Wong said.

KUALA LUMPUR: AirAsia Aviation Group Ltd (AAGL) has launched its fifth airline, AirAsia Cambodia, as the aviation industry continues to rebound from the Covid-19 pandemic, the worst aviation crisis in history. AirAsia’s decision to venture into Cambodia underscores its resilience and determination to reclaim growth, despite the formidable challenges faced by the sector. The new airline will take off on May 2, 2024, and operate out of Phnom Penh International Airport (PNH), with an initial fleet of two Airbus A320s. Fares are now on sale on three domestic routes from Phnom Penh to Siem Reap and Sihanoukville, with plans to grow the network in the future. AAGL chairman Tan Sri Jamaludin Ibrahim said the launch of AirAsia Cambodia marks another momentous occasion for AirAsia to provide low-cost and high-value travel for the people of ASEAN to connect with friends and family and explore the region and beyond. “After the most challenging period, the new airline is a significant milestone in our incredible journey of expansion and recovery from the turbulence posed by the pandemic. “With the aviation sector in its infancy, Cambodia and its 17 million population offer a wealth of opportunities for cultural, historical, and natural experiences, and we are proud to be able to connect travellers from all over the world to this remarkable country,” he said in a statement. Group chief executive officer Bo Lingam said AirAsia founders Datuk Kamarudin Meranun and Tony Fernandes have always envisioned making ASEAN a smaller place. “AirAsia has a long history in Cambodia, and we see much-untapped potential in the region, including the opportunity to train and graduate hundreds of skilled pilots, engineers, and other professional aviation workers, much like how we have done in Malaysia, Thailand and the rest of the countries we operate in. “The launch of AirAsia Cambodia further cements our mission to truly own ASEAN for affordable travel, where our brand and footprint are strongest. Historically, we have six routes into Cambodia across the group, carrying 1.3 million passengers into the kingdom,” he said. Lingam said AAGL remain focused on building an incredible network in its core markets that cannot be surpassed with the best connectivity and flight frequencies. “Everything great starts with two planes. In the next five years, we aim to grow AirAsia Cambodia’s fleet to 60 planes. “With the pending merger of all of the AirAsia airlines in the group as a single listed company, including medium-haul affiliate airline AirAsia X, we will have seven airlines leveraging off one another to over 130 destinations and growing. “This will truly transform the future of short—and longer-haul air travel across ASEAN and beyond,” Lingam said. AirAsia’s expansion into Cambodia is a testament to the airline’s deep-rooted understanding of the ASEAN market and its unwavering commitment to delivering the best value and exceptional service across the region. With its strong brand presence and a loyal customer base, AirAsia is poised to significantly impact Cambodia’s aviation landscape, with over 300 new specification aircraft on order across the AAGL group.

KUALA LUMPUR: Kenanga Investment Bank Bhd has retained the 2024 export growth forecast at 9.4 per cent on an expected turnaround in the export of electric and electronic (E&E) and a demand recovery from China, particularly in the second half (2H) of 2024. “We anticipate export growth to gradually improve in the coming months, expecting a double-digit expansion by year-end, driven by a tech sector upturn and China’s steady economic rebound underpinned by the ongoing government stimulus. “However, we maintain a cautious outlook due to potential disruptions from rising geopolitical tensions that could disrupt the global supply chain and trade activities,” Kenanga said in a report. The investment bank said a slower-than-expected recovery in China may also cap the growth potential, particularly in the export-oriented sector. Exports fell slightly in February, lower by 0.8 per cent year-on-year (YoY) below Kenanga’s expectations of 3.0 per cent and consensus at 2.4 per cent. Month-on-month (MoM) exports fell sharply by 9.1 per cent, partly due to seasonal factors, such as the factory shutdown during the Chinese New Year holidays. There were also lower shipments to major trading partners and weak demand for manufactured products. Exports to major destinations demonstrated a mixed performance. Although growth remained supported by positive exports to the United States (US) by 10.1 per cent and Japan by 5.6 per cent, it was dragged down by sustained weakness in shipments to China, down by 0.4 per cent, and Singapore, also lower by 15.3 per cent. By sector, weak exports were dragged by manufacturing, down by 2.4 per cent in February, and agriculture, down by 4.8 per cent, but this was partially supported by a sharp rebound in the mining sector of 16.8 per cent. By product, weak exports mainly came from E&E products, which were down by 9.8 per cent and have remained in contraction since August 2023, as well as subdued exports of petroleum products by 14.0 per cent. Kenanga also noted that Malaysia’s trade surplus expanded slightly to RM10.9 billion in February from RM10.2 billion in January this year, beating the house estimate of RM10.3 billion but lower than the consensus of RM12.3 billion as imports outperform exports on an MoM basis. Meanwhile, total trade moderated sharply by 3.3 per cent in February from 13.3 per cent in January but remained positive for the second straight month. “We expect a recovery in the manufacturing export-oriented sector, alongside domestic demand growth driven by a lower unemployment rate and improving household income. “That said, our gross domestic product (GDP) growth forecast for 2024 remains at 4.5-5.0 per cent in 2024,” Kenanga said.