ESG

KUALA LUMPUR: Green graphite producer Graphjet Technology Sdn Bhd (GTSB) is en route to be listed on the Nasdaq after shareholders approve raising US$1.38bil from the market. In this pivotal moment for GTSB’s corporate journey, the company is set to enhance its global footprint by listing on Nasdaq under the ticker ‘GTI,’ showcasing a minimum pro forma enterprise value of US$1.38 billion. This is after GTSB obtained Energem Corp’s shareholders’ approval for the business combination between the two entities. Further, this development heralds a new chapter for GTSB and the broader green technology sector, reinforcing the company’s pioneering role in developing advanced green battery anode materials. A total of 80.16 per cent of the votes were in favour of the approximately 85.08 per cent of votes cast at the meeting on February 28, 2024. Following the closing, the combined company will operate as GTSB, and its ordinary shares and warrants are expected to begin trading on the Nasdaq Global Select Market under the new ticker symbols GTI and GTIWW, respectively. GTSB, recognised for its patented technology that converts palm kernel shells into valuable graphene and graphite, is pioneering sustainable material production and shaping a green supply chain for battery anode materials globally. This unique approach showcases the company’s innovative prowess and underscores its commitment to sustainability and environmental, social and governance (ESG) principles. GTSB co-founder and chief executive officer Aiden Lee Ping Wei said today marks a monumental stride for Graphjet and the entire green technology sector. “Our Nasdaq listing is not merely a corporate milestone. It catalyses our mission to lead the green graphite revolution, emphasising our role in the global shift towards renewable energy solutions. “Our vision extends beyond the current achievements. We are actively exploring partnerships with academic institutions and leading enterprises to push the boundaries of what’s possible in green technology,” Lee said in a statement. The company’s collaboration with Massachusetts Institute of Technology (MIT) exemplifies this approach, combining GTSB’s market-leading innovations with global academic excellence. GTSB’s innovative process converts palm kernel shells, an abundant local byproduct, into premium-grade graphene and graphite, crucial for green battery technologies. This process epitomises the company’s strategy of turning waste into valuable materials, contributing significantly to the green supply chain for battery anode materials. GTSB’s business model is deeply rooted in ESG principles, emphasising the company’s commitment to responsible business practices. “We believe in creating value that benefits our stakeholders and the planet. “Our processes and products are designed to minimise environmental impact and promote a circular economy,” Lee said. Post listing, GTSB aims to capitalise on the growing graphene market, which is expected to see significant growth, according to a Mordor Intelligence study in 2023. With plans for expanding its footprint in the Southeast Asian market and beyond, GTSB is poised to leverage emerging opportunities, reinforcing Malaysia’s standing in the global green energy industry.

KUALA LUMPUR: US-based sustainable liquid packaging solutions provider AeroFlexx has established a strategic partnership with Indonesia-based Dynapack Asia to deliver liquid packaging solutions across the ASEAN region. The partnership aims to introduce solutions that meet or exceed the extended producer responsibility (EPR) legislation requirements while creating delightful consumer experiences. Dynapack Asia is an established and prominent manufacturer of packaging and components. This is the first round of capacity expansion in what is anticipated to be a high-growth market as multinational corporations (MNCs) and regional customers adopt AeroFlexx for their sustainable liquid packaging needs. With the rising demand for sustainable liquid packaging generated by the latest legislation, there are MNCs who continue to seek eco-friendly packaging solutions. AeroFlexx, whose technology is a lightweight, flexible package designed to act like a rigid bottle and uses up to 85 per cent less virgin plastic than traditional rigid bottles, is bridging the region’s needs with packaging innovations built to advance sustainability. AeroFlexx is uniquely positioned to grow with industry demand, presenting the potential to dramatically scale the business. Dynapack Asia’s established presence in the region and long-term supply positions with MNCs and regional customers paired with AeroFlexx’s technology platform will introduce a viable solution to the plastic waste reduction efforts in the ASEAN to minimise the environmental footprint. Dynapack Asia operates over 30 manufacturing sites across Indonesia, China, Malaysia, Thailand, Singapore, and Vietnam. This partnership also allows MNCs to grow sustainably globally, including in personal care, household products, and industrial markets in the region.

KUALA LUMPUR: Hong Leong Bank Bhd (HLB) has collaborated with Refiller Mobile to encourage Malaysians to embrace a zero-waste lifestyle. Refiller Mobile becomes the seventh social enterprise on board HLB Jumpstart, the bank’s entrepreneurship-focused corporate social responsibility (CSR) platform dedicated to supporting social enterprises on their missions to uplift communities and contribute positively to society. Through HLB Jumpstart, the bank will facilitate the digitalisation of Refiller Mobile’s business operations and provide guidance on social media strategies to expand brand visibility and customer reach. HLB will also provide digital banking and payment solutions such as DuitNow QR codes and all-in-one payment terminals to enable seamless cashless payments. Additionally, HLB will also support Refiller Mobile in business and financial management through tailored advisory. HLB chief marketing and communication officer Zalman Zainal said the bank’s approach to environmental, social, and corporate governance (ESG) commitments and community investment in many different ways, one of which is by actively supporting social enterprises and aspiring entrepreneurs who are making a difference in their communities through creating social impact. “Through HLB Jumpstart, we look to support entrepreneurs and socially-driven businesses through digitalisation and industry-level guidance, helping them build a financially stable business and amplifying the positive impact they have in their communities. “We see our partnership with Refiller Mobile as a win-win situation for both parties, encouraging the adoption of a zero-waste lifestyle amongst Malaysians whilst helping to grow a small, local business with a noble cause. “With this, we hope to expand our ESG portfolio and capabilities even further, enabling a truly holistic adoption of sustainability practices in all layers of operations,” he said in a statement. HLB chief sustainability officer Chow Sheng Wai said the partnership is aligned with the bank’s sustainability-driven DNA as it looks to embed ESG values into its operations, extending even to its corporate collaborations. “We believe in the power of collaboration to drive positive change, and we want to work with brands and businesses that help us drive our ESG initiatives forward. “Refiller Mobile is the perfect partnership for us because it marries our passion for entrepreneurship with our commitment towards long-term sustainability. “We hope that this partnership will be mutually beneficial for all parties as we look to implement ESG-focused practices in our operations further while supporting our customers in their sustainability journeys towards a greener future for all,” she said. Founded by Oh Sok Peng, a former media producer, Refiller Mobile is Malaysia’s first zero-waste store on wheels. Her van, refurbished to carry products such as eco-friendly cleaning agents, personal care products like toothpaste and shampoo, dried fruits and nuts, and even dog treats, allows customers to stock up on essential household products right at their doorstep, eliminating wastage of non-recyclable containers. In their commitment to supporting local businesses and reducing environmental impact, Refiller Mobile sources all their products locally, mostly from stores and brands that have an eco-friendly DNA. Oh said a big part of their business is being mindful of their own carbon footprint. She runs her operation on an appointment-only basis and makes it a priority to source her products from local, zero-waste suppliers. Commenting on the genesis of Refiller Mobile, she cited her own challenges with living a zero-waste lifestyle and her passion for promoting responsible consumption. “Through going on-ground and engaging with the community, I learned that many want to reduce the waste they produce but do not know where to start. “There are also not many zero-waste, eco-friendly stores that provide a wide variety of products at an affordable price. “Hence, I thought of starting my own mobile ‘refilling’ store, filling a gap in the market whilst helping others on their zero-waste journeys,” she said.

KUALA LUMPUR: Bursa Malaysia and three neighbouring exchanges have collaborated on the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) to advance ASEAN’s sustainable development through the implementation of common environmental, social and corporate governance (ESG) metrics in their respective data infrastructures. The other partner exchanges are the Indonesia Stock Exchange (IDX), The Stock Exchange of Thailand (SET), and the Singapore Exchange (SGX Group). The ASEAN-ISE initiative was formalised at a recent meeting between the partner exchanges, marking an agreement on the foundational governance structure and operational blueprint for building the interconnected sustainability ecosystem. According to a joint statement, Bursa Malaysia will serve as the ASEAN-ISE Secretariat to facilitate the successful execution of its objectives. The intended outcomes of the ASEAN-ISE initiative include creating an integrated environmental, social, and corporate governance (ESG) ecosystem to promote the progress of sustainable development in ASEAN. The focus is also to enable participating exchanges to achieve economies of scale through cost efficiency and faster time-to-market with fit-for-purpose solutions. Further, the partnership aims to empower the participating exchanges to proactively assist ESG-compliant corporates in maximising business value through quality disclosures. This involves developing infrastructure solutions to facilitate cross-border trade flows, connecting corporates’ supply chains to ESG-oriented investment capital and providing suppliers with good ESG practices and disclosures to secure more competitive financing rates. Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said this most recent development aligns with the exchange’s intent to broaden participation from exchanges in the ASEAN region and beyond. “Together, we envisage an open and inclusive ecosystem in which the participating exchanges in ASEAN operate a trusted and fundamentally aligned data infrastructure. “Comprehensive sets of modular-based, fit-for will support this purpose and cost-efficient solutions that can be deployed in response to the participating exchanges’ specific market needs and conditions,” he said in the statement. IDX president director Iman Rachman said the addition of SGX to the interconnected sustainability ecosystem initiative reflects the strong collaboration of stock exchanges in ASEAN to bolster the sustainable finance ecosystem in the ASEAN capital markets. “This is a step forward in promoting the implementation of the recently announced ASEAN Common ESG Core Metrics and encouraging responsible business practices among listed companies in ASEAN stock exchanges,” he said. SGX chief executive officer Loh Boon Chye said in witnessing the profound impact of climate change in this region,  collaboration has become increasingly important for members in ASEAN Exchanges. “SGX Group acknowledges the urgency for timely action and, two years ago, launched ESGenome, the online data portal for public listed companies to facilitate sustainability and climate-related reporting. “As such, we look forward to working together with the members to standardise data to create interoperable datasets that will reinforce our collective efforts to drive capital towards sustainability efforts and address climate change in the region. “By sharing our expertise and coordinating efforts, we can mobilise capital for sustainable financing, contributing to a more economically and climate-resilient ASEAN community,” he said. SET president Pakorn Peetathawatchai said the inclusion of SGX Group strengthens the alliance, uniting key regional players. “Together, we set new standards for responsible business practices, encouraging corporates to integrate the ASEAN Exchanges Common ESG metrics. “Our collective commitment reflects a shared vision for a sustainable and resilient financial ecosystem that positively impacts our societies, economies, and the world at large,” he said. As part of the ASEAN-ISE implementation, the participating exchanges have agreed upon outcome-driven collaboration deliverables that consider local considerations and the maturity level of their respective markets. Significantly, the participating exchanges will commit to adopting and implementing the ASEAN Exchanges Common ESG Metrics in their ESG reporting platforms.