ESG

Singapore, Singapore-based global business services platform Ascentium has announced the acquisition of ZICO Holdings, a corporate services provider specialising in secretarial services, trust administration, and regulatory compliance across Southeast Asia. Under the deal, ZICO’s corporate services will be integrated with Ascentium’s existing operations in Singapore, Malaysia, and the Philippines, along with its corporate and trust/trustee business in Labuan, Malaysia. The acquisition is part of Ascentium’s broader expansion plan across key markets in Southeast Asia. “With more than 30 years of operational excellence, deep regional experience, and a portfolio of premium clients, ZICO strengthens our capabilities and enhances our regional footprint,” Ascentium said in a statement released Thursday. The acquisition marks the latest milestone in Ascentium’s rapid expansion across Asia-Pacific. In recent years, the company has completed a series of strategic acquisitions, including Links International (HR outsourcing technology firm) and Harneys Fiduciary (corporate trust and services provider with offices in Singapore, Hong Kong, and Shanghai). In 2024, it also acquired InCorp Global, a corporate services and business advisory provider, with full integration expected by 2026. Ascentium co-founder and CEO Lennard Yong said the deal represents “an important step forward in our Southeast Asia growth strategy and a milestone in building a leadership team with unrivalled regional expertise.” He added that ZICO’s entrepreneurial culture, market knowledge, and premium clientele are a natural fit with Ascentium’s long-term goals. Kelvin Ng, CEO of ZICO Holdings, described the transaction as a pivotal moment for the group. “We are confident that Ascentium’s leadership, platform, and global reach will open new opportunities for our people and clients, while delivering enhanced solutions across the region,” he said.

KOTA KINABALU, The Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) has entered into a strategic partnership with Invest Sabah Bhd through the Bioeconomy Tour 2025, aimed at strengthening Sabah’s bioeconomy ecosystem and unlocking new economic and sustainable development opportunities for the state. Bioeconomy Corporation chief executive officer (CEO) Mohd Khairul Fidzal Abdul Razak said the collaboration involves close cooperation with nine Sabah-based agencies as part of an integrated effort to support the Ministry of Science, Technology and Innovation’s mission to position Malaysia as a global technology leader by 2030. He highlighted that strong participation in the 2024 Sabah Bioeconomy Tour showcased the state’s vast potential in biotechnology and bio-based industries. With stronger backing from state agencies this year, he is confident the sector will see greater progress. “Our focus is to assist biotechnology companies nationwide, particularly in Sabah. Earlier, we introduced six bio-based products from local firms. With this programme, we aim to help more local companies develop products for both domestic and international markets,” he told reporters after the Bioeconomy Tour 2025. This year, Bioeconomy Corporation plans to host the programme in six locations nationwide with over 200 participants, and to launch 60 new products and innovations. For the Sabah edition, the corporation will roll out the BioSynergy programme in partnership with POIC Lahad Datu to boost research, technology transfer, talent development, and enterprise support. According to Mohd Khairul, the initiative is designed to build expertise and enhance the competitiveness of Bio-based Accelerator (BBA) and BioNexus-status companies in Sabah, both of which are critical to the state’s bioeconomy growth. To date, more than 630 companies across Malaysia have recorded approved investments worth RM8.7 billion as of the second quarter of 2025. “This shows that continuous support for these companies will deliver even greater and more sustainable impacts on science, technology and innovation-driven economic development. We are committed to advancing BBA and BioNexus companies to help the industry contribute five per cent to GDP growth,” he added. Meanwhile, Invest Sabah CEO Dr Firdaus Suffian said the collaboration with Bioeconomy Corporation will not only strengthen Sabah’s bioeconomy ecosystem but also create opportunities for investors, innovative companies, and local communities to engage in the growth of the bio-based industry. “As the state agency responsible for attracting investments and driving economic development, we view this partnership as a strategic platform to support biotechnology growth in Sabah and expand economic opportunities for the people. This is also an opportunity to drive innovation and promote Sabah as a hub for strategic technology investments,” he said. Dr Firdaus added that Sabah’s rich biodiversity offers vast untapped potential to develop high-value products through bio-based technologies. He expressed confidence that more BBA and BioNexus companies will be established in Sabah through initiatives like the Bioeconomy Tour, further contributing to both state and national economic growth.

Japanese insurer Nippon Life – known locally as Nissay – has launched the Nippon Life Nature Finance Approach, a new framework to assess the impact of corporate activities on nature restoration. The initiative seeks to embed nature-related considerations into both business operations and investment strategies, reflecting Nippon Life’s broader sustainability vision of “Passing on an indispensable Earth to the future.” The framework draws on the ‘Biosphere Integrity’ principle from the Planetary Boundaries model, which highlights ecological thresholds critical to human well-being. It primarily focuses on terrestrial ecosystems such as forests, flora, and fauna. Key indicators include: Net primary production (NPP): the energy plants generate for growth and survival Human appropriation of NPP (HANPP): the share of NPP consumed by humans Population trends of endangered species The approach is also guided by the “do no significant harm” principle to ensure other environmental and social risks are avoided. “We have developed a nature finance approach that introduces new evaluation indicators for nature recovery, drawing on the Planetary Boundaries model and international agreements such as the Global Biodiversity Framework,” said Yasutoshi Miyamoto, General Manager of the Responsible Investment Strategy Office at Nippon Life.“Through dialogue with industry, government, and academia, we aim to refine and expand this approach across investment and financing practices.” ERM’s roleThe framework was developed in collaboration with sustainability consultancy ERM, which also supported Nippon Life’s climate strategy. “We designed the Nature Finance Approach in alignment with the latest scientific insights,” said Kosuke Kanematsu, Partner at ERM Japan. “Nippon Life’s ambitious vision for nature restoration has the potential to inspire wider action among companies, investors, and financial institutions pursuing a nature-positive future.”

KUCHING, Pertama Ferroalloys Sdn Bhd is set to invest RM200 million to establish large-scale commercial bamboo plantations within licensed planted forest (LPF) areas across Sarawak. The initiative will be rolled out in phases. The company formalised the plan through a memorandum of understanding (MoU) with the Sarawak Timber Industry Development Corporation (STIDC) during Sarawak Week 2025 at the Expo Osaka 2025 in Japan last week. The MoU was signed by Pertama Ferroalloys deputy president Yuki Nakamura and STIDC general manager Zainal Abidin Abdullah, witnessed by Sarawak Deputy Premier and Minister for International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan. Under the agreement, STIDC will support Pertama Ferroalloys by identifying suitable LPF areas for bamboo cultivation, providing high-quality seedlings, and offering technical expertise in bamboo resource management. Currently, Sarawak has approved 43 LPF licences covering 2.3 million hectares of land for forest plantation projects. The partnership is expected to ensure a steady supply of raw materials for Pertama Ferroalloys, reducing reliance on imports such as wood charcoal and cork, while also creating opportunities for value-added bamboo-based industries in collaboration with local communities. Pertama Ferroalloys – formerly known as AML Manganese (M) Sdn Bhd – operates a manganese and ferroalloys smelting facility in Samalaju Industrial Park, Bintulu. This initiative also aligns with STIDC’s Sarawak Bamboo Industry Development Masterplan 2020–2030, launched five years ago to transform bamboo into a new growth industry. The masterplan targets the cultivation of at least 20,000 hectares of bamboo plantations for industrial purposes, projected to generate RM200 million in export earnings by 2030. Of this, at least 10,000 hectares will be developed in partnership with LPF holders and native customary rights landowners. LPF holders currently grow fast-maturing species such as acacia mangium and oil palm. STIDC also aims to spearhead 200 bamboo community projects involving smallholders, fostering inclusive growth. By 2030, Sarawak envisions the establishment of diverse bamboo-based industries, ranging from charcoal, pharmaceuticals, cosmetics, textiles, pulp and paper, food, and handicrafts, to engineered bamboo products like bamboo ply, strand-woven bamboo, and glued-laminated bamboo. Bamboo, with a life cycle of 50 to 80 years, is recognised as a renewable and sustainable raw material, making it a cornerstone of Sarawak’s long-term green industrial strategy.

KANGAR, Agrobank has reinforced its commitment to uplifting the asnaf (tithe recipients) and B40 communities by distributing iTEKAD grants worth RM100,000 to 20 agropreneurs for an MD2 pineapple cultivation project in Chuping, near Padang Besar. According to Agrobank President and Group Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin, each participant — comprising B40 individuals and military veterans — received RM5,000 to purchase additional equipment for cultivating a five-acre plot rented from Felda Global Ventures (FGV). “This initiative is part of Agrobank’s collaboration with Aqina Fruits Sdn Bhd, which also covers pineapple farming projects in Beaufort and Pekoti. For Chuping and Beaufort, each project has an allocation of RM6 million, while Pekoti received the highest funding of RM12 million,” he said in a statement. In total, Agrobank and Aqina Fruits’ contract farming collaboration under the B40 model has secured RM24 million in funding. As a development financial institution, Agrobank also provides financing facilities of up to RM280,000 for each participant to cover initial project capital. Tengku Ahmad Badli Shah noted that the MD2 pineapple cultivation programme forms part of Agrobank’s broader efforts to strengthen socio-economic development, particularly for low-income groups. “Beyond improving livelihoods, this initiative also supports the growth of the agricultural sector and boosts pineapple production to meet both local demand and export opportunities,” he said. Through the iTEKAD initiative, Agrobank has also rolled out several programmes, including the MAINJ Micro-Entrepreneur Financing Programme, the BERNAS Farm Partner Programme, the Oil Palm Replanting Scheme, and the Vessel Modernisation and Catch Mechanisation Programme. These programmes are designed to empower asnaf and B40 entrepreneurs by combining three essential components: seed capital, micro-financing, and financial training.

KUALA LUMPUR, Johor Plantations Group Bhd (JPG) has successfully issued its first Sustainability Sukuk Wakalah–Islamic Medium-Term Notes (IMTN), raising RM200 million under its Series 2 programme. The 10-year sukuk, maturing on Aug 15, 2035, carries a periodic distribution rate of 3.70% per annum. JPG said the issuance was oversubscribed by 4.93 times during the bookbuilding process, reflecting strong investor demand and confidence in the group’s sustainability efforts and operational performance. Proceeds will fund Shariah-compliant capital expenditure for JPG’s Integrated Sustainable Palm Oil Complex (ISPOC), recognised as an eligible green project under its sustainability framework. Maybank Investment Bank Bhd acted as principal adviser and sustainability structuring adviser. CIMB Investment Bank Bhd and Maybank Investment Bank Bhd were joint lead arrangers, while Affin Hwang Investment Bank, AmInvestment Bank, Bank Islam, CIMB Investment Bank and Maybank Investment Bank served as joint lead managers.

Temasek Trust’s Catalytic Capital for Climate and Health (C3H) has led a US$11.6 million Series A funding round for Equatic, a company developing seawater electrolysis technology that removes atmospheric CO₂ while producing carbon-negative hydrogen. Singapore-based Kibo Invest co-led the round, with participation from Stacey Nicholas, the Aga Khan Foundation, Adam McKay, and Lee Cooper. Equatic’s process speeds up the ocean’s natural carbon absorption, storing CO₂ permanently while generating clean hydrogen in one scalable system. Proven in pilot projects in Los Angeles and Singapore, the technology meets ISO-14064 monitoring and verification standards and has been validated by Isometric and Puro.earth registries. James Marshall, CEO of Kibo Invest. The funds will support the design of Equatic’s first 100-kilotonne carbon removal facility, commercialisation, manufacturing scale-up, and further R&D. The company has already attracted strong offtake interest from global partners. C3H said the investment aligns with its mission to back bold, scalable climate solutions. Kibo Invest called Equatic “a unique opportunity” to address both decarbonisation and clean energy needs. Gaurav N. Sant, Founder and CTO of Equatic. Founded in 2021 after winning Temasek Foundation’s The Liveability Challenge, Equatic has since piloted its technology with Singapore’s national water agency PUB and was a 2024 Earthshot Prize finalist. Founder and CTO Gaurav N. Sant said the financing will help deliver cost-effective, durable carbon removal at scale. The deal reflects growing global interest in science-driven solutions that combine environmental impact with commercial viability.

KUALA LUMPUR (July 24): Affin Group, in partnership with Sarawak-based Chemsain Sustainability Sdn Bhd (Chemsain), has launched the Greenhouse Gases Implementer Programme during its flagship Affin SME BizChat 2025 event, aimed at helping SMEs integrate environmental, social and governance (ESG) principles into their operations. Supported by Credit Guarantee Corporation Malaysia Bhd (CGC) and Generali Life Insurance Malaysia Berhad, this year’s event carried the theme “ESG for SMEs: A Practical Approach,” reflecting Affin’s commitment to sustainable banking and SME growth. Official launch of the Greenhouse Gases Implementer Programme, a pioneering initiative aimed at equipping SMEs with the skills and knowledge to adopt internationally recognised GHG protocol corporate standards. The Greenhouse Gases Implementer Programme is designed to equip SMEs with the expertise to adopt internationally recognised Greenhouse Gas (GHG) Protocol Corporate Standards. It includes training for Certificates of Competency in ISO 14064-1 and ISO 14064-2, preparing participants to become certified GHG Practitioners, with a focus on developing Scope 1 and Scope 2 corporate GHG baselines. Training will be conducted by Chemsain and TÜV SÜD, with successful participants receiving internationally recognised certification accredited by TÜV SÜD. Affin and Chemsain formalised their collaboration through an MoU signed in July 2024 during the inaugural Affin SME BizChat in Kuching. “At Affin, we are committed to helping SMEs transform into low-carbon businesses by adopting sustainable practices, in line with our AX28 Plan’s strategic pillar of responsible banking with impact,” said Datuk Paduka Syed Mashafuddin Syed Badarudin, CEO of Affin Islamic Bank. Affin’s recent achievements underline its sustainability efforts. The bank was upgraded from an ‘A’ to ‘AA’ in the Morgan Stanley Capital International (MSCI) ESG ratings, recognising improved corporate governance practices. It also won the Life Below Water and Life On Land Award (Champion) at the ABM 50th Anniversary CSR Excellence Awards 2024 for its Klang River cleaning and rehabilitation efforts, as well as Bank of the Year – ESG Champion at the 10th Sustainability and CSR Malaysia Awards 2025. These milestones highlight Affin’s continued dedication to environmental stewardship, responsible banking, and the communities it serves.

WWF-Malaysia and the Business Council for Sustainable Development (BCSD) Malaysia have entered into a strategic partnership to accelerate plastic circularity in Malaysia’s private sector, focusing on the hospitality, retail, and fast-moving consumer goods (FMCG) industries. The collaboration was formalised on July 2 during the Plastic Circularity Clinic for the Hospitality Sector and Strategic Partnership Ceremony at Aloft Kuala Lumpur Sentral. (From left) WWF-Malaysia Peninsular Malaysia and Conservation Science associate director Jason Hon, Marketing and Communications director Rozzana Basri, executive director and CEO Sophia Lim, BCSD Malaysia director Emily Oi, director Stefanie Braukmanna and Marea CEO Roberto Benetello. At the event, WWF-Malaysia officially handed over its Plastic Circularity Toolkit — a digital platform designed to help businesses assess, benchmark, and enhance their plastic waste management practices. The toolkit enables companies to measure their performance against key indicators, identify improvement areas, and integrate circular economy principles into their value chains. Under the agreement, BCSD Malaysia will lead a Plastic Circularity Clinic Series until December 2025, offering targeted workshops and solution-driven knowledge-sharing sessions tailored to specific sectors. “This collaboration with BCSD Malaysia is a meaningful step towards building capacity and strengthening systems for better plastic management,” said WWF-Malaysia CEO Sophia Lim. “The toolkit moves businesses from compliance to conviction and from awareness to action. BCSD’s peer learning clinics will be instrumental in supporting this journey.” The initiative aligns with the Malaysia Plastic Sustainability Roadmap 2021–2030, which targets a 25% recycling rate for plastic packaging by 2025 and the phase-out of single-use plastics by 2030. The clinics will serve as industry platforms for sharing best practices, exploring circular business models, and fostering leadership in sustainability. BCSD Malaysia director and chairman, Prof Emeritus Tan Sri Dr Zakri Abdul Hamid, said, “By expanding the use of WWF’s digital toolkit across the private sector, we can help companies pinpoint practical opportunities for improvement and equip them with the support to take action. Collaborations like this are key to building industry capabilities and achieving real progress towards a circular economy.” The event host, Aloft Kuala Lumpur Sentral — BCSD Malaysia’s Strategic Sustainability Partner and Pilot Venue Host — showcased its commitment as an early adopter of circularity solutions in the hospitality industry. The programme also featured a panel discussion on “Circular Solutions for the FMCG, Hospitality and Retail Sectors,” where experts discussed practical approaches to Extended Producer Responsibility (EPR), sustainable packaging, and consumer engagement. Following the ceremony, a BCSD Circularity Clinic for the Hospitality Sector was conducted in partnership with the Malaysian Recycling Alliance (MAREA), bringing together sustainability practitioners and business leaders, including representatives from Matrade, AEON, UCSI, and Alam Flora.

Gentari and Amazon Web Services (AWS) have inked a Power Purchase Agreement (PPA) for an 80MW wind power project in Tamil Nadu, India, marking a key milestone in their clean energy collaboration. Scheduled to commence operations in mid-2027, the project is expected to generate about 300,000 MWh of renewable energy annually. The agreement builds on the partnership formed in 2023 and aims to accelerate Gentari’s mission of delivering scalable clean energy solutions, while supporting AWS’s ambition to achieve net-zero carbon emissions by 2040. Gentari CEO Sushil Purohit. “This collaboration reflects our shared commitment to driving practical and scalable clean energy initiatives—crucial for Asia and the global transition towards a low-carbon future. Through projects like the Karur wind development, we’re not just adding renewable capacity but addressing critical energy needs where it matters most,” said Gentari CEO Sushil Purohit. “Together with AWS, we are focused on creating real impact through action and enabling the broader energy ecosystem to transition.” Jeff Johnson, AWS Managing Director for ASEAN. Jeff Johnson, AWS Managing Director for ASEAN, added, “As the world’s largest corporate purchaser of renewable energy, AWS continues to advance towards our 2040 net-zero target. Partnering with Gentari, a Malaysian clean energy leader with growing regional influence, moves us closer to that goal.” Witnessed by senior representatives from Gentari, AWS, and PETRONAS, the signing underscores the role of corporate partnerships in accelerating renewable energy adoption across Asia. Gentari continues to grow its portfolio in renewables, hydrogen, and green mobility, forging alliances that deliver measurable decarbonisation results.