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KUALA LUMPUR: GrabAds, the advertising arm of Grab, is expecting a surge in customer spending patterns during the upcoming Ramadan. According to its Ramadan-Raya Insights 2023/2024 report, Grab said 84 per cent of respondents surveyed expressed plans to increase their spending during Ramadan, particularly on food and beverage, fashion and apparel, and personal healthcare. Grab Malaysia head of marketing Hassan Alsagoff said as Ramadan approaches, we anticipate a surge in celebration and consumer activity, especially among families in Malaysia. “This presents an opportunity for brands to connect meaningfully online with the right audiences. “By planning early Ramadan campaigns that leverage data insights and tailored strategies, brands can enrich their customers’ celebrations with engaging communication that serves personalised experiences. “This approach not only captures attention but also builds lasting connections with existing and new audiences,” he said in a statement. Findings on the report showed that 76 per cent of Malaysians anticipate amping up their digital activities during the festive season, with 62 per cent planning to rely heavily on Grab services like food deliveries and payments. Further, an 84 per cent of respondents favouring breaking their fast with loved ones and 94 per cent willing to spend more on high-quality products for their families and homes, merchants can consider offering tailor-made for family gatherings with flexible group menus offering add-ons like drinks and desserts. The report also noted that 85 per cent of surveyed users, including car owners, prefer Grab’s convenience during festive periods, leading to a 9 per cent surge in weekly ridership compared to pre-Ramadan. This trend peaks further in the weeks leading up to Hari Raya, with airport trips steadily increasing from week three onwards. Furthermore, families often reunite in their hometowns, so the roads usually get busy. Recognising these behavioural patterns, brands have a golden window to engage early adopters. Grab report noted that by launching strategic in-car or car-wrap campaigns one to three months before Ramadan, they can leverage this captive audience, raise brand awareness, and capture a loyal customer base before the festive fever takes full swing. “We’re committed to helping our merchant partners, especially the micro, small and medium enterprises (MSMEs), plan their Ramadan campaigns effectively. “We encourage them to leverage the insights we share in the report so they can foster brand loyalty, drive sales, and establish a strong presence in the hearts and minds of consumers,” Hassan said. GrabAds empowers brands and marketers, including small and medium-sized merchants, to run impactful campaigns through its super-app ecosystem. The platform offer a self-serve ad service, an ad creation tool that empowers merchant partners to build their own ad image banners and search ads and track ad performance in real-time.

KUALA LUMPUR: Main market listed Yong Tai Bhd’s (YTB) wholly-owned subsidiary, PTS Impression Sdn Bhd (PISB), signed a strategic collaboration agreement with 828 Asia Pte Ltd, a subsidiary of the Singapore-based Ebenex Group. This partnership, formed on February 28, 2024, has been established to spotlight the iconic Encore Melaka Theatre, a cornerstone within YTB’s portfolio that showcases innovation and cultural revelry. Under the terms of the collaboration agreement, PISB will provide 828 Asia with periodic access to the Encore Melaka Theatre and the necessary expertise, technical support, and manpower. YTB’s chief executive officer Datuk Wira Boo Kuang Loon said 828 Asia’s expertise in event organisation combined with YTB’s iconic Encore Melaka Theatre will create a platform for delivering exceptional entertainment experiences to visitors from around the world. “This partnership aligns with our vision to be at the forefront of innovative tourism developments and reinforces our commitment to cultural and economic growth in Melaka,” he said in a statement. PISB, the owner and operator of Encore Melaka Theatre, has established itself as a leading landmark attraction in the city’s waterfront area. Recognised as a jewel in the crown of Melaka, the theatre has captivated international and local tourists with its unique offerings and immersive experiences with its 360-degree rotating platform and approximately 2,000 seats. 828 Asia, a prominent event and concert organiser based in Singapore, brings expertise and experience to the collaboration. With a strong presence in the industry, 828 Asia is well-positioned to market, promote, and organise a series of events within the Hatten City @ Melaka and Encore Melaka Theatre. The collaborative efforts between PISB and 828 Asia aim to capitalise on the immense business potential and development opportunities presented by hosting events in the Encore Melaka Theatre. By leveraging the unique features and capabilities of the theatre, the partnership seeks to create unforgettable experiences for audiences and further enhance Melaka’s reputation as a premier destination for world-class entertainment. The first event from this collaboration is expected to occur in April 2024, beginning a series of exciting cultural and entertainment initiatives. This collaboration is expected to contribute positively to YTB by diversifying its portfolio and enhancing its position in the tourism and cultural sectors. “We are excited about the immense potential of this collaboration,” said David Toh, the director of 828 Asia. “Together with PISB, we look forward to delivering exceptional events that will captivate audiences and contribute to Melaka’s cultural and entertainment landscape,” he said.

KUALA LUMPUR: The Securities Commission has warned investors to be wary of three entities suspected of impersonating legitimate businesses. These entities, named Zoksa, UOB Kay Hian, and Syarikat Magnisave, have been added to the SC’s investor alert list. In a statement, SC said the clone entities are deceptive operations that mimic the appearance and branding of real, licensed companies. They aim to trick investors into believing they are dealing with a legitimate entity, potentially leading to financial loss. The SC has raised specific concerns about each entity. Zoksa is an unauthorised entity operating an illegal investment scheme that involves dealing in securities without a license. Syarikat Magnisave is misusing the name, credentials, and logos of both Magnisave Group Sdn Bhd, a licensed SC entity, and Bank Negara Malaysia. UOB Kay Hian is an entity that misuses the name and credentials of UOB Kay Hian Securities (M) Sdn Bhd, a legitimate SC-licensed entity. The SC strongly advises investors to exercise caution and avoid interacting with entities and individuals on their investor alert list. These entities are not authorised to operate in the Malaysian capital markets, and any investments made through them are not protected under local securities laws. By staying informed and verifying the legitimacy of investment opportunities before committing any funds, investors can protect themselves from scams and safeguard their financial well-being.

KUALA LUMPUR: Property player YNH Property Bhd (YPB) has redesignated Khong Kam Hou as the YNH audit committee chairman. Khong was appointed to the board of directors of YNH as a senior independent non-executive director on March 31, 2023, when he was also made a member of the audit committee, nominating committee, and remuneration committee. As chairman of the audit committee, Khong will lead the three-member team to assist the board in fulfilling its oversight and fiduciary duties, including assessing the YPB’s processes relating to risks, overseeing financial reporting and evaluating the company’s internal and external audit processes. “The most immediate and critical task of the audit committee headed by Khong will be to appoint an independent external auditor,” a YNH spokesperson said in a statement. “Over the past few months, the board has been carefully evaluating several candidates for the role recommended to the independent non-executive directors that make up the audit committee. “YNH is confident that the external auditor will be appointed very soon after the members of the audit committee have undertaken a thorough and objective assessment,” the spokesperson added. Khong, who graduated from the University of Malaya with a Bachelor in Economics in 1974, had served in important units within the Inland Revenue Department, namely tax assessment, corporate tax and tax investigation from 1975 to 1991. He opted out as a senior tax officer in 1992 and started his practice as a licensed tax consultant from 1992 to 2019. In another development, YPB appointed Lee Zhi Yan as the new independent non-executive director and a member of its audit committee, nominating and remuneration committee. The company has also re-designated its independent non-executive director,Ching Lee Fong as chairman of the nominating committee. Lee graduated from Monash University Australia with a Bachelor of Commerce in 2016 and has extensive working experience in Australia and Malaysia. He spent several years in multinational companies like PricewaterhouseCoopers Plt (Malaysia) and Dutch Lady Milk Industries Bhd. Lee holds certifications from The Malaysian Institute of Accountants (MIA), The Malaysian Institute of Certified Public Accountants (MICPA) and Chartered Accountants Australia and New Zealand (CAANZ). Lee also completed the Summer School Programme with the London School of Economics and Political Science in the UK. Meanwhile, Ching, an existing member of the audit committee and remuneration committee, was appointed to the board on March 31, 2023, and has over 23 years of engineering experience in the electrical and electronics industry. He has worked with multiple multinational companies like Intel Microelectronics, Motorola and Altera on front-end design, verification and system validation. Currently, he is working on artificial intelligence and RISCV processors with a Hong Kong-based startup company. “YPB is confident that the breadth and depth of experience and capabilities of the members of its audit, nominating, and remuneration committees will play an important role in enabling the board and the company to inculcate high standards of corporate governance within the organisation,” the spokesperson said.

KUALA LUMPUR: China-based Zhejiang Sinopont Technology Co Ltd is building its first manufacturing facility outside China in Ipoh, Perak. Through its Malaysian subsidiary, Sinopont Everthriving (Malaysia) Sdn Bhd, Zhejiang Sinopont’s manufacturing facility in Tasek Industrial Park will commence operations immediately. The facility will produce solar cell encapsulant film with an initial production capacity of 85 million square metres, sufficient to cater to about 10 gigawatts (GW) of demand. Sinopont plans to gradually increase its investment in Perak, aiming to eventually produce enough encapsulant film to meet the needs of a 30 GW solar energy system. The company said in a statement that this expansion will be executed in several stages, with production capacity steadily rising to 300 million square meters. The partnership between Perak and Sinopont goes beyond this initial investment. Both companies are looking at further collaboration, including potential expansion projects and creating a complete solar industry hub within Perak. In lauding Sinopont’s investment, Perak chief minister Datuk Seri Saarani Mohamad emphasised the state’s endorsement of Perak’s business environment and joint commitment to driving economic growth while preserving the environment for future generations. Several factors have made Perak increasingly attractive to local and foreign investors. Improved infrastructure, a skilled workforce, and government support contributed to this rise in appeals. These developments are well-aligned with the ‘Pelan Perak Sejahtera 2030’ plan, which prioritises initiatives that draw in investment. Perak recognises its significant role in attracting investment, and the state agency InvestPerak is offering a ‘fast-track letter’ to expedite approvals for key projects, ensuring a smooth implementation process. This move aligns with their goal, spearheaded by InvestPerak chief executive officer Mohamad Hashim Abdul Ghani, to collaborate with government agencies and solidify Perak as the top investment choice in the country. Beyond immediate benefits like job creation, which is estimated at 300 positions, Sinopont’s investment is expected to have a lasting impact. It will strengthen Malaysia’s solar panel manufacturing sector, particularly in the north, paving the way for further economic growth and development.