ESG

KUALA LUMPUR: Graphjet Technology Sdn Bhd (GTSB), a leader in sustainable graphite and graphene production, has made significant milestones with a bell-ringing ceremony at the NASDAQ stock exchange. This ceremonial event symbolises the successful listing of GTSB’s ordinary shares under the ticker symbol GTI, which began trading on March 15, 2024. The bell-ringing ceremony, a time-honoured tradition on Wall Street, was led by GTSB co-founder and chief executive officer Aiden Lee Ping Wei, along with chairman Lim Hooi Beng, executive director Jay Aw, chief technology officer Liu Yu and other key members of the company’s management team. This momentous occasion was celebrated with the participation of esteemed guests, including business partners, investors, and representatives from the Malaysian government. “Ringing the NASDAQ bell is a proud moment for all of us at GTSB. It signifies the culmination of more than two years of hard work and dedication by our team,” said Aiden Lee in a statement. “As we step into this new chapter as a publicly traded company, we are more committed than ever to leading the way in green graphite production and contributing to a sustainable future,” he said. GTSB’s innovative approach to producing graphite and graphene from agricultural waste has set a new standard in the industry. With a production process that reduces the carbon footprint by up to 83% and costs by up to 80 per cent compared to traditional methods, GTSB is well-positioned to meet the growing demand for these critical materials, especially in the United States market. The company’s recent NASDAQ listing will further bolster its growth strategy and manufacturing capacity expansion. GTSB is dedicated to delivering shareholder value through groundbreaking technologies and sustainable business practices. The company’s vision of driving innovation across multiple industries with its sustainably produced graphite and graphene is now more attainable than ever, thanks to the global visibility and strong platform provided by its NASDAQ listing.

KUALA LUMPUR: Meta Bright Group Bhd (MBGB) has achieved its commercial operation date (COD) for its solar project under the solar photovoltaic (PV) zero capex program for Sinergi Perdana Sdn Bhd (SPSB) on March 21, 2024. SPSB is owned by the Rubber Industry Smallholders Development Authority (RISDA), which is part of the Ministry of Rural and Regional Development. The solar project, developed by MBGB’s wholly-owned subsidiary FBO Land (Setapak) Sdn Bhd (FLSB), has a capacity of up to 401.76 kWp. MBGB executive director of corporate and strategic planning Derek Phang Kiew Lim said the successful completion of installation for the solar project with SPSB marks a significant milestone in the company’s journey towards sustainability. “This project not only exemplifies our commitment to renewable energy but also aligns with the government’s initiatives to promote clean energy solutions. “We are excited about the positive impact this project will have on our earnings and the environment,” he said in a statement. This initiative is part of a 21-year renewable energy supply agreement, offering SPSB a 20 per cent discount to the prevailing Tenaga Nasional Bhd (TNB) tariff rates, equipped with imbalance cost pass-through (ICPT). Further, this project is estimated to mitigate approximately 380.81 tonnes of CO2 emissions annually, thus contributing significantly to environmental sustainability by reducing carbon footprints, combating climate change and promoting cleaner energy alternatives. In addition to the successful installation of the Sinergi Perdana project, MBGB is actively pursuing new opportunities in the renewable energy sector. The company is currently exploring projects in the Commercial & Industry (“C&I”) segment worth approximately RM34.7 million. MBGB stated that the total value of projects that have completed installation stands at approximately RM3.55 million. Additionally, the company has projects currently in progress valued at around RM11.89 million. The commercial operation of this project is expected to provide MBGB with sustainable earnings income, contributing positively to the company’s long-term financial stability. Furthermore, the project is projected to mitigate a significant amount of CO2 emissions, reinforcing the company’s dedication to clean energy and a greener, sustainable future. The solar program’s acceptance by SPSB is a testament to the trust placed in MBGB’s ability to deliver mutually beneficial and sustainable renewable energy solutions. The company is optimistic about expanding participation in its solar PV zero capex program with other Malaysian enterprises, demonstrating its capability to contribute to sound environmental, social, and governance (ESG) practices.

KUALA LUMPUR: Malayan Banking Bhd (Maybank) and clean energy company Gentari Sdn Bhd signed a memorandum of understanding (MoU) to collaborate and explore green mobility and renewable energy solutions. This marks Gentari’s first collaboration with a financial institution, signifying an aligned commitment with Maybank to drive the adoption of sustainable solutions in the market. The collaboration will further strengthen Maybank’s sustainability goals, aiming to achieve a carbon-neutral position of emissions by 2030 and a net zero carbon equivalent position by 2050. Maybank community financial services group chief executive officer Syed Ahmad Taufik Albar said the bank is committed to becoming the sustainability leader in Southeast Asia, driven by sustainable financing and a crucial agent for low-carbon initiatives. He said Maybank’s focus on delivering value-based solutions grounded in sustainable and ethical principles while meeting the market’s growing demand for eco-conscious practices. “We offer comprehensive solutions in green mobility and renewable energy. “Embracing our purpose of humanising financial services, we support our customers with a complete ecosystem: best-in-class, value-based offerings that are both within and beyond traditional banking,” said Taufik Albar in a statement. As of December 2023, Maybank has surpassed its sustainable financing targets, mobilising RM34 billion for the year, well ahead of its 2023 target of RM16 billion, with a cumulative achievement of over RM68 billion, against the targeted RM80 billion by 2025. The strategic partnership marks a significant milestone, harnessing Gentari’s well-established expertise in the green mobility and renewable energy sector and underscoring Maybank’s commitment to championing sustainable practices and innovative solutions. With Gentari as the clean energy solutions partner in this journey, Maybank is installing charging points for electric vehicles (EV) and hybrid vehicles at its network of premises and branches nationwide, beginning with ten strategically chosen locations. Having the widest network of direct current (DC) fast chargers in Malaysia, Gentari offers EV and hybrid vehicle owners in Malaysia access to over 335 charging points, including more than 100 DC fast chargers, which enable rapid charging for EV and Hybrid vehicles. This collaboration will extend Maybank Islamic’s InCharge pre-credits to include Gentari’s charging stations, giving customers more access and benefits. Maybank Islamic InCharge is an EV pre-credit incentive programme for EV and hybrid vehicle owners with Maybank Islamic Auto financing with credits useable at selected charging stations. Meanwhile, Maybank’s small and medium enterprises (SMEs) customers will have access to consultancy and advisory services facilitation with Gentari as the clean energy industry expert in Maybank’s myimpact SME Hub. Other areas of collaboration include cross-branding and marketing efforts of the entire suite of Maybank product offerings, including financing, insurance and takaful, card partnerships and others, leveraging on Maybank’s financial offerings and digital platforms with Gentari’s expertise and facilities. “A just energy transition requires diverse stakeholders to unite to make clean energy more accessible, sustainable and affordable. “This collaboration unites Maybank’s suite of financing and insurance solutions with Gentari’s green mobility and renewable energy offerings, marking the collaboration between like-minded partners dedicated to making the shift towards a sustainable lifestyle attainable,” Gentari deputy chief executive officer Shah Yang Razalli, also the chief executive officer of Gentari Green Mobility. The exchange between Maybank and Gentari occurred in a closed-door ceremony attended by the senior management of both companies. The partnership aims to create greater awareness and more opportunities for individuals and businesses to make a positive impact through sustainable choices and contribute meaningfully to a better tomorrow.

KUALA LUMPUR: Permodalan Negeri Selangor Bhd (PNSB), IJM Corporation Bhd (IJM Corp) and Lim Seong Hai Capital Bhd (LSH) signed a strategic collaboration targeted at transforming the road transportation infrastructure in the southern districts of Selangor. Leveraging the combined strengths of PNSB, IJM Corp, and LSH, PNSB will take the lead in planning, land management and project oversight, showcasing its commitment to Selangor’s strategic ambitions, while LSH and IJM Corp’s industry expertise will ensure effective execution and delivery. This initiative is focused on the Southern Selangor Integrated Regional Development (IDRISS). IDRISS aims to harness the economic potential of the Sepang and Kuala Langat districts and is expected to significantly contribute to Selangor’s development as a key hub for regional trade and investment. Development projects within IDRISS cover a wide range of sectors, including industrial, logistics, warehousing, ports, commerce, housing, tourism and education. PNSB chief executive officer Raja Ahmad Shahrir Iskandar Raja Salim said this partnership underscores the agency’s commitment to harnessing the economic potential of Southern Selangor. “Leveraging PNSB’s extensive experience and deep understanding of the state’s local development needs, alongside the collective strengths of LSH and IJM Corp, we aim to create a robust infrastructure that supports our long-term vision for the region’s growth and development while incorporating sustainable elements within an environmental, social and governance (ESG) framework,” he said in a statement. An intent to collaborate agreement was signed between the three parties, signifying a unified commitment to this vision. The collaboration will study various viable connectivity routes and plans to introduce key transportation links. These efforts aim to improve connectivity, reduce travel time and create new development corridors. The initiative seeks to invigorate local economies by bolstering Selangor’s logistics and transport efficiency and providing better access to markets, services, and employment opportunities. In addition to immediate infrastructure enhancements, the projects will incorporate nature-positive infrastructure, including renewable energy, energy-efficient designs, sponge city planning model for flood mitigation and rehabilitation of mangrove forests, supporting Southern Selangor’s sustainable development. IJM Corp group chief executive officer and managing director Lee Chun Fai said the company’s involvement in this initiative draws upon its core expertise in construction and infrastructure development to support Selangor’s growth. “We aim to meet the state’s immediate and future infrastructure needs, ensuring long-term benefits. “Our approach is pragmatic, focused on the well-being of the community and sustainable regional development,” he said. LSH non-executive chairman Tan Sri Lim Keng Cheng said the company is excited to join forces with PNSB and IJM Corp on this strategic venture. “Our combined expertise in capital management and infrastructure development will ensure the successful realisation of the IDRISS initiative. “This collaboration aims to elevate Selangor’s transportation infrastructure, becoming the backbone of the region’s economic growth,” he said. This collaboration also represents a crucial step toward improving infrastructure connectivity and enhancing the economic landscape of Selangor’s southern districts. It seeks to create a vibrant ecosystem conducive to business and investment, signalling a brighter outlook for the state.

KUALA LUMPUR: Nestlé Malaysia Bhd is further reducing its carbon footprint with the operation of its new biomass boiler at its Chembong factory in Rembau, Negeri Sembilan, reflecting the company’s strong environmental, social and governance (ESG) commitment. The biomass boiler started operations at the Chembong factory at the end of 2023 and uses oil palm empty fruit bunches (EFB) and palm kernel shells as renewable energy sources. It replaces fossil fuels to generate steam for heating processes in its manufacturing operations. This approach is part of a natural carbon cycle and does not contribute to long-term carbon emissions, making it carbon neutral. This innovative solution significantly reduces net CO2 emissions compared to fossil fuels, and it also aids in the reduction of other greenhouse gases. It is projected to significantly decrease the factory’s greenhouse gas emissions by 14,000 tonnes of CO2e annually while simultaneously minimising pollution, reducing landfill waste, and preserving valuable natural resources. Costing RM18 million to install, the biomass boiler was developed and installed by technology partner Enco Systems Sdn Bhd, a total boiler solutions provider. Officiating the biomass boiler at the factory, Negeri Sembilan chief minister Datuk Seri Utama Aminuddin Harun said driving meaningful change and sustainable development requires a collective effort, with the public and private sectors playing a role. “As such, I laud forward-thinking companies such as Nestlé Malaysia that are going the extra mile to champion sustainability in their business by taking proactive measures to minimise their carbon footprint. “This aligns with the state government’s shared values of environmental stewardship and responsible economic growth,” he said. Established in 1993 and expanded in 2019 to meet growing local and regional demand, the Chembong factory is Nestlé Malaysia’s largest Milo plant in the world. Over the past three decades, the factory has given rise to job creation, economic opportunities and community engagement. With a fully Malaysian manufacturing workforce, it is also an important production centre for other key brands such as Kit Kat, Nestlé Ice Cream and Koko Krunch. All products are halal-certified and made in Malaysia for local and global consumption, exporting to more than 20 countries worldwide. Nestlé Malaysia chief executive officer Juan Aranols said the company celebrates a 30-year journey of its Chembong factory with the official launch of this important sustainability investment. “This initiative enables us to make significant progress towards our environmental goals, namely the reduction of our carbon footprint as a responsible manufacturer and also allows us to impact the Chembong community and honour our environmental commitment positively. “It also serves as a testament to our dedication to producing high-quality products made in Malaysia by Malaysians,” he said. Aranols said that Milo is taking further strides towards a more sustainable future by adopting a biomass boiler and using renewable electricity. “Milo’s colour is green, and we are making Milo even greener for the planet and all Malaysians, with the adoption of cleaner technologies that complement further the move to renewable electricity implemented in 2022,” Aranols said