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

Energy & Technology

Energy & Technology, News

M’sian Enterprises Urged to Make AI Top Priority

/

KUALA LUMPUR: Malaysian enterprises are encouraged to prioritise responsible artificial intelligence (AI) to fully tap into the potential benefits of generative AI and its innovations, according to the AI and analytics platform provider SAS Institute Inc. Its Regional Vice President and Head of Digital Transformation for Emerging Europe, Middle East and Africa (EMEA), Amir Sohrabi emphasised the importance of business leaders to prioritise responsible AI, whether they are already implementing AI use cases or are still in the planning phase. He said organisations need to recognise that ensuring responsible AI is a collective responsibility involving all stakeholders in an AI system. “(Effective) oversight must be spearheaded by the executive management team, focused on ensuring that responsible and trustworthy AI is a top priority across the board. “By closely monitoring and auditing AI operations, organisations can quickly identify and address any issues, thereby proactively mitigating concerns before they escalate,” Amir said. Citing a MyDigital report, he pointed out that generative AI has the potential to unlock US$113.4 billion (RM541.37 billion) in productive capacity in the Malaysian economy, equivalent to one-quarter of gross domestic product (GDP) in 2022. The Malaysian government has also planned to introduce a framework for governing AI and establishing ethical guidelines, given the increasing adoption of AI by various organisations. According to Amir, the regulations aim to promote innovation by creating a conducive environment, addressing risks and promoting ethical and responsible AI use. He further highlighted that responsible AI practices enhance human well-being, safeguard personal data and avoid discrimination. The foundation for such features lies in transparency and accountability, but unfortunately, many organisations deploying AI systems struggle to uphold these principles. “Taking proactive measures will not just reduce risks, but also enhance cyber resilience, ultimately positioning Malaysian organisations to thrive in the AI scene,” he said. — BERNAMA

Energy & Technology, ESG

Nornickel Develops Palladium Solutions to Address Environmental Challenges

/

BANGKOK: Mining and smelting company Nornickel is developing innovative palladium solutions to address key climate challenges in the Asia Pacific region. The solutions include improving water treatment for over 2 billion people, facilitating the implementation of green energy projects, reducing harmful emissions and optimising the transition to biodegradable packaging. For this, Nornickel has allocated a total of US$100 million to be used for research and development of palladium applications by the end of 2030. Currently, water that has been disinfected with chlorine poses significant environmental risks in its production, transport and storage. A palladium alloy catalyst combined with electrolysis technology allows the disinfectant to be produced close to the water supply, reducing environmental risks. “Palladium is a critical mineral for the future, especially for hydrogen and solar energy projects. “Palladium-based catalysts in the hydrogen energy sector show efficiency gains at every stage of the production chain, from the extraction of hydrogen from water through electrolysis, to its transport and even in the fuel cell itself. In the solar energy industry, palladium chalcogenide can be used to make highly efficient photovoltaic (PV) cells,” said Norilsk Nickel Palladium Centre’s Head Dmity Izotov. The key raw material for the production of biodegradable packaging is currently glycolic acid, which is derived from formaldehyde, a dangerous carcinogen. The new palladium-based catalyst eliminates the need for carcinogenic formaldehyde and provides better raw material yields. Palladium technology not only helps manufacturers meet increasingly stringent environmental regulations but also reduces production costs and improves safety. “In the era of global digitalisation, technologies such as neural networks, big data analysis and machine learning play an important role in accelerating processes. Nornickel is actively using digital technologies to model and predict the structures and properties of materials. “Tight international cooperation in the development of digital technologies is needed at all levels and is crucial to accelerate the adoption of green technologies and achieve sustainable development goals. The Palladium Technology Centre is poised to act as a pilot site for testing new digital tools,” said Dmitry. Palladium is widely recognised around the world for its significant role in resolving environmental challenges. It is already being actively used in the automotive industry to develop emission control systems. Palladium is highly catalytic, hydrogen-permeable and when combined with other elements, has good optical properties. This gives palladium enormous potential to improve the performance of green technologies and make them cheaper to implement.

Energy & Technology, News

STDCx Enters Partnership with Orangeleaf, Mendix to Foster Tech Advancement in Selangor

/

HANOVER, GERMANY: The Selangor government’s technical professional development centre, Selangor Technical Skills Development Centre (STDCx) and globally renowned low-code application development platform, Mendix signed a Memorandum of Understanding (MoU) with Orangeleaf Consulting, the leading low-code consultancy in Malaysia. The event took place at the Hannover Messe 2024 trade show in Germany, which is the world’s largest industrial technology exhibition where companies from the energy, digital, and mechanical and electrical engineering sectors gathered to map solutions for the future of energy supply and manufacturing. With topics exhibited including digitalisation, artificial intelligence and machine learning, the strategic partnership between STDCx, Orangeleaf Consulting and Mendix aims to foster technological advancement with Mendix’s low-code, nurture local talent, and promote digital transformation initiatives within these industries in Selangor, Malaysia. In tabling the 2024 Selangor State Budget in November 2023, Chief Minister YAB Dato’ Seri Amirudin Shari committed RM13.85 million to elevate the role of technical and vocational education in Selangor to a higher level. Additionally, Mendix’s low-code platform was catapulted into the Parliament’s spotlight as the cutting-edge technology set to transform the state’s technological development. During the event, Selangor Chief Minister Dato’ Seri Amirudin Shari said, “What sets Mendix apart as a low-code platform is its speed to market as opposed to the traditional form of coding.” According to Amirudin, those who do not have a coding background can also rapidly adapt to Mendix’s low-code and seamlessly develop software that caters to an organisation’s needs. Therefore, the partnership aligns with Selangor’s mission to promote technological advancement, reduce the digital divide, and further increase economic growth in the state. “We are committed to collaborating closely with Mendix and other stakeholders to maximise the benefits of this partnership. “This understanding with Orangeleaf Consulting is a testament to our commitment and we intend to invite similar partnerships with interested parties in this rapidly growing space of the digital economy,” he added. Meanwhile, Orangeleaf Consulting Chief Executive Officer and Co-founder Ellice Ng Pui San said, “We are happy to be recognised as the sole consultancy in Malaysia that will be working closely with the STDCx to equip the workforce with Mendix’s low-code technology that is needed to thrive in this vibrant digital economy.” Ellice also mentioned that there is great potential in the talent pool development in Malaysia, and low-code can play an important role in raising tech talent to compete locally and globally. “Low-code transforms the way programmers develop systems and applications by enabling business users and tech individuals with different technical levels to build applications quickly and efficiently, utilising a visual interface through the Mendix platform. “Thus far, we have successfully groomed local tech talents to support businesses globally, especially with the rise of low-code solutions from various industry sectors,” she added. With over 296,656 members, the Mendix low-code community is all across the globe. The global low-code platform market revenue is valued at almost US$22.5 billion in 2022 and is forecast to reach approximately US$32 billion in 2024.

Energy & Technology, News

Malaysian Residents Will Experience Eased Payments in China

/

KUALA LUMPUR: In a move to enhance travel facilitation, both Malaysia and China have recently implemented a short-term visa waiver program, allowing citizens of each country to travel visa-free for tourism and business purposes. With the increasing flow of people in both directions, UnionPay International (UPI) further optimises payment services. UPI plays a pivotal role in facilitating seamless payment experiences for Malaysian residents making local consumptions as well as travelling abroad including China. UPI offers a range of payment products, including credit cards, debit cards, and locally UnionPay-enabled e-wallets like SPay Global and GoPayz, ensuring cardholders have convenient payment options without the hassle of managing cash when travelling abroad. Recently, UnionPay announced the launch of Project Excellence 2024, a significant initiative aimed at enhancing payment services in China to cater to the needs of tourists and foreigners. This initiative, coupled with the seamless payment experience offered by UnionPay, simplifies travel between the two countries and encourages greater tourism and business exchanges. Tourists visiting China could consult at information booths at tourist hotspots for payment solutions provided by UnionPay and participate in various promotional activities under the theme “Explore China Your Way with UnionPay”. UPI also collaborates with travel-related organisations such as the Malaysia-China Folklore Culture Tourism Association, participating in events like the upcoming “Nihao, China” travel fair.

Energy & Technology, News

Jiankun International Unveils Green Energy in Taman Panchor Jaya

/

KUALA LUMPUR: Jiankun International Bhd (JIB) has inked a memorandum of understanding (MoU) with Micro Energy Holdings (M) Sdn Bhd (MEH) to advance an eco-conscious future further. This partnership illustrates the potential of sustainable development in the real estate industry and underlines a commitment to innovation and responsible development by installing solar photovoltaic (PV) systems in JIB’s Taman Panchor Jaya @ Nibong Tebal, Penang. JIB Executive Director and Chief Executive Officer Edwin Silvester Das said this initiative with MEH is more than an advancement in the company’s project portfolio. “It is a leap towards a greener Malaysia. By integrating sustainable solutions like solar energy into our luxury housing development, we aim to create not just homes but a legacy of environmentally responsible living,” he said in a statement. According to Edwin, the Taman Panchor Jaya @ Nibong Tebal will set a benchmark for environmentally conscious developments without compromising elegance and comfort. This initiative, expected to be completed in July 2026, will feature 116 double-storey units equipped with a minimum of 2.2KW solar systems, underscoring JIB’s investment in green technology and its environmental and community benefits. “The partnership between JIB and MEH for the Taman Panchor Jaya @ Nibong Tebal project reflects our foresight in melding luxury with eco-efficiency. “We are steering the Malaysian property market towards a horizon where luxury and sustainability coexist,” Edwin said. JIB announced in December 2023 that it had acquired a 99.99% stake in Oriental Link Properties (M) Sdn Bhd (OLP). The acquisition enlarged JIB’s footprint and enriched its portfolio with OLP’s high-value projects. The Taman Panchor Jaya @ Nibong Tebal Penang represents a gross development value (GDV) of RM72.69 million and will be a gated community, indicating substantial returns rooted in strategic location and advanced planning. The development, nestled on a verdant 7.58-acre land, is projected to attract buyers keen on green energy and sustainable living. MEH Chairman Tan Sri Abdul Aziz Jaafar said the company’s collaboration with JIB on the Taman Panchor Jaya project epitomises the fusion of modern technology and environmental stewardship. “By harnessing solar power, we contribute to a sustainable future and set a precedent for integrating green energy solutions in real estate development. “This partnership is a testament to our commitment to innovation and dedication to promoting sustainable living across Malaysia,” he said. JIB Executive Director Datuk Ir Donald Lim said this green initiative aligns with Malaysia’s aspirations for sustainable urban development and supports the nation’s agenda to reduce its carbon footprint for the country. “The project promises to lower energy costs for residents, increase the value of their properties, and contribute to the overall welfare by fostering a healthier environment,” he said.

Energy & Technology, News

MITI Maintains Target of 10k Charging Stations by 2025 Despite Setbacks

/

KUALA LUMPUR: A total 2,214 electric vehicle (EV) charging stations were installed as of 20 March 2024 as the Ministry of Investment, Trade and Industry (MITI) maintains its commitment to developing the EV charging infrastructure and reaching its target of 10,000 charging points by 2025. Under the Low Carbon Mobility Blueprint (LCMB) 2021-2023, 9,000 units of those charging points will be altering current (AC) chargers and 1,000 units will be direct current (DC) fast chargers. “Out of the 2,214 EV charging stations already installed, 1,741 AC chargers and 473 are DC fast chargers,” Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said during a press conference after announcing the ministry’s first-quarter 2024 report card. On the Electric Motorcycle Use Promotion Scheme (MARiiCas) programme, Tengku Zafrul said 1,995 applications were approved with rebates valued at RM4.8 million as of 31 March 2024. Earlier in January, he said that the government may not be able to meet the target of installing 10,000 charging stations around the country by next year. Having that in mind, Tengku Zafrul said that he and his Cabinet colleagues would re-examine if the target is feasible. “It seems that the target is quite aggressive because there are many issues that we need to address. “It involves agencies such as the Energy Commission, local authorities and other parties,” he said, adding that the procedures to install the charging stations needed to be streamlined as there had been complaints from equipment suppliers. “One of the main complaints was that it took a long time to get approval to set up a charging station. We need to make it seamless,” he commented. — BERNAMA

Singapore
Energy & Technology, News

Funds raised by Singapore’s tech startups up 59% in 2023

/

SINGAPORE: Singapore’s early-stage technology start-ups secured $402 million (S$548 million) in funding in 2023, a 59 percent increase from the $253 million raised in 2022, according to SGInnovate, the national investment arm. The number of seed-stage deals also rose by 50 percent, from 20 in 2022 to 30 in 2023, across four key sectors: advanced manufacturing, agrifood and sustainability, and health and biomedical sciences. SGInnovate noted these figures in its report on the sector’s development in 2023, highlighting a growing interest in emerging tech investments as Singapore’s ecosystem matures. SGInnovate examined early-stage start-ups established between January 1, 2019, and December 31, 2023, defining emerging technology start-ups as those developing tangible products like devices, machinery, food, and pharmaceuticals based on physical sciences, life sciences, and engineering. Tong Hsien-Hui, SGInnovate’s executive director, remarked that these trends reflect Singapore’s evolving and dynamic emerging tech landscape, with specialized investors increasingly supporting specific industry verticals. Agrifood and sustainability emerged as leading sectors in funding and start-up incorporations, likely driven by public and private initiatives. Both sectors saw growth in funding events year-on-year, with the agrifood sector securing 13 deals in 2023 (compared to eight in 2022) and the sustainability sector closing 16 deals in 2023 (versus 12 in 2022). Despite overall increases in funding and deals, the number of start-ups incorporated in 2023 across the four sectors declined from 35 in 2022 to 25 in 2023. SGInnovate attributed this to ongoing macroeconomic uncertainties, potentially leading to deferred incorporations. Looking forward, SGInnovate anticipates increased private market investments in emerging technologies in 2024, especially with predicted rate cuts, and remains optimistic about start-ups addressing long-term challenges, supported by Singapore’s policy initiatives.

Energy & Technology, Investment & Market Trends, News

PGB Intensify Efforts Towards Green Initiatives Amid Strong Financial Performance

/

KUALA LUMPUR: Petronas Gas Bhd (PGB) is committed to creating secure high-impact projects by leveraging on its core competencies and exploring industry-adjacent opportunities. This was revealed during the group’s 41st annual general meeting (AGM), where PGB reiterated its efforts of integrating sustainability into all decision-making processes, prioritising economic growth and sustainable development equally at all levels. “PGB’s efforts in upholding strength, resilience and sustainability are anchored in its strategic agenda of pursuing growth while maintaining commercial project and operational excellence,” the group said in a statement released in conjunction with the meeting. During the virtual session of the AGM, PGB Managing Director and Chief Executive Officer Abdul Aziz Othman highlighted the group’s strong 2023 financial performance with profit earnings increasing by 8.1% to RM1.9 billion compared to the previous year. The positive results were attributed to continued operational excellence and robust margins from the utilities segment as well as higher contribution from joint venture companies. “Backed by improved performance, the group declared a total dividend of 72 sen per share,” he said. For PGB’s full financial year ended 31 December 2023 (FY23), the group reported a total revenue of RM6.45 billion, an increase of 4.6% from RM6.16 billion posted in FY22, which was mainly contributed by the increased revenue from the utilities segment on the back of higher product prices in tandem with elevated fuel gas price and higher electricity tariff. By maintaining its successful performance and reliability across all its plants and facilities, the group was able to ensure steady earnings from long-term contracts under gas processing, gas transportation, regasification and utilities segments amidst challenging market conditions on the back of long-term agreements. For the fourth quarter ended 31 December 2023 (Q4 FY23), the group’s revenue declined by 3.1% to RM1.58 billion compared to RM1.63 billion posted in Q4 FY22 due to lower revenue from utilities and regasification segments. The lower utilities revenue was mainly due to lower product prices and customers’ offtake, while regasification revenue was lower. “Despite the challenging business environment, PGB still managed to record a strong financial performance in FY23. As we move forward, we continue to explore opportunities for growth within the National Energy Transition Roadmap (NETR),” Abdul Aziz said. He added that the group also initiated efforts to pursue a greener portfolio to support its target to achieve Net Zero Carbon Emissions by 2025.

Energy & Technology, News

Renuka Sharma Promoted to Director of Energy Solutions APAC at BayWa r.e.

/

BANGKOK: Renuka Sharma has been promoted to Director of Energy Solutions for the Asia-Pacific (APAC) region at BayWa r.e., a global renewable energy developer and service provider. This promotion recognizes Renuka’s outstanding leadership and her significant contributions to the company’s growth and influence in renewable energy. With more than 18 years of experience spanning various industries, Renuka has consistently demonstrated her ability to navigate complex projects and drive the energy transition forward. Previously, she served as Managing Director of BayWa r.e. Thailand, leading initiatives to promote renewable energy adoption in Southeast Asia. In her new role, Renuka will be responsible for guiding the strategic direction and operational performance of BayWa r.e.’s Energy Solutions business throughout the APAC region. Drawing from her extensive experience with companies like SunEdison and Brookfield Renewables, Renuka is well-positioned to foster innovation and sustainable growth within the organization. Reflecting on her promotion, Renuka remarked, “I am deeply honoured and excited to take on this new role at BayWa r.e. Our region is at a pivotal moment in the energy transition, and I am committed to leveraging our collective strengths to drive positive change and deliver sustainable solutions for our customers and communities.” Renuka, who holds degrees in Law and Russian, as well as an LLM in Banking and Finance Law from Kings College, London, is also a strong advocate for workplace diversity. Daniel Gaefke, Global Director of Projects & Executive Board Member at BayWa r.e., emphasized his confidence in Renuka’s leadership to drive the company’s energy transition objectives in APAC. BayWa r.e.’s Energy Solutions team has been active in Southeast Asia since 2019, delivering projects with a combined capacity of nearly 100MW for notable corporations in Thailand, Vietnam, Malaysia, and more. Their recent partnership with SUSI Partners underscores their commitment to advancing large-scale rooftop PV projects with major C&I corporations.

Energy & Technology, News

Meta Bright Enters Solar Supply Agreement to Power Hospitality Operations

/

KUALA LUMPUR: Meta Bright Group Berhad (“MBGB”), in its ongoing commitment to sustainable and eco-friendly energy solutions, announced today that its wholly-owned subsidiary, FBO Land (Serendah) Sdn. Bhd. (“FLSBB”), along with Doople Tech Sdn Bhd (“Doople”), has signed a solar supply agreement with Cherengin Hills Sdn. Bhd. (“Cherengin Hills”). This agreement represents a strategic step towards enhancing sustainable practices in the hospitality industry and supporting Malaysia’s national energy objectives. According to a filing with Bursa Malaysia, FLSBB will oversee the installation, maintenance, and operation of a solar photovoltaic system at Cherengin Hills’ properties in Pahang. This system will supply all net electricity output for 21 years from the start of operations. Cherengin Hills, primarily engaged in hotel, motel, and holiday camp operations, stands to benefit from reduced energy expenses and a diminished carbon footprint, while FBO Land aims to leverage the carbon credits generated by the system. This collaboration follows MBGB’s recent partnership with Doople Tech Sdn. Bhd., announced on 19th April 2024, which focused on renewable energy ventures. By combining Meta Bright’s investment capabilities with Doople Tech’s operational expertise, MBGB is eager to explore targeted opportunities in solar energy initiatives within the hospitality sector. This marks MBGB’s initial entry into solar solutions tailored for hospitality, with intentions to further expand in this field. Given the hospitality industry’s strong recovery post-pandemic, driven by rising travel demand and a renewed emphasis on sustainable practices, the timing is ideal for introducing renewable energy solutions. Mr. Derek Phang Kiew Lim, Executive Director of Corporate and Strategic Planning at Meta Bright, commented, “Cherengin Hills is taking a commendable step towards sustainability, and we are pleased to facilitate this transition. By harnessing solar energy, we contribute positively to the environment and demonstrate the economic viability of green initiatives in the hospitality sector.” “MBGB’s venture into renewable energy underscores a broader strategy of responsible corporate stewardship and reflects the Group’s forward-thinking approach in aligning business operations with global sustainability trends,” Mr. Derek Phang added. The partnership with Cherengin Hills signifies another significant achievement for MBGB as it continues to strengthen its position as an innovative player in Malaysia’s business landscape. With a focus on long-term sustainability and growth, MBGB remains committed to leading the way in eco-friendly business practices. MBGB is pleased to announce that the completed installation value of projects to date is approximately RM3.55 million. Furthermore, the company has ongoing projects valued at around RM11.89 million.

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