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KUALA LUMPUR: RHB Banking Group celebrates the ongoing success of its #JomBiz initiative, designed to empower B40 micro-entrepreneurs socio-economically. Since its launch in 2022, the programme has invested over RM1.1 million, benefiting more than 700 micro-entrepreneurs and achieving an impressive 35% average sales growth in just three months. The 2025 RHB #JomBiz Award Ceremony highlighted these achievements, honoring select micro-entrepreneurs and underscoring the programme’s pivotal role in providing funding, capacity building, and mentorship to MSMEs from the B40 group and underserved communities. The event recognized recipients of business incentive funding from Cohort 5, where participants underwent capacity-building sessions covering topics like social media marketing, sustainable business practices, and financial management. Following these sessions, participants presented their business plans to judges, with the top 10 proposals receiving initial funding ranging from RM5,000 to RM15,000 to foster their business growth. Dato’ Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group, emphasized RHB’s commitment to supporting micro-entrepreneurs: “We acknowledge the immense potential of MSMEs in transforming lives and communities, yet recognize the challenges they face, including limited access to funding and business expertise. This initiative underscores our dedication to driving growth, resilience, and empowerment in today’s dynamic economy.” At Cohort 5’s graduation ceremony, Dato’ Mohd Rashid shared inspiring success stories, such as participants securing franchise opportunities and supply contracts following their participation in events like the Franchise Expo Malaysia 2024 and being recognized at The Star Outstanding Business Awards 2023. Highlighting the top winners of Cohort 5’s business incentive funding: 1st Place: Puan Nurul Farhana Binti Amirul Hizan, Hanawarrah Creation Enterprise (awarded RM15,000) 2nd Place: Encik Mohd Shafiq Ezwanie Bin Jafri, Senju Co (awarded RM12,000) 3rd Place: Puan Nur Shawani Binti Che Mansur, Wisymadani Resources (awarded RM10,000) Dato’ Mohd Rashid concluded, “These stories inspire us to expand platforms for our RHB #JomBiz participants. We hope their success motivates other micro-entrepreneurs to pursue their dreams.” Looking ahead, RHB plans to expand the #JomBiz programme in 2025, aiming to reach more participants and amplify its impact across Malaysia’s micro-entrepreneur community. The programme remains committed to inclusivity, prioritizing Asnafs, single parents, and Persons with Disabilities (PWDs). For more information on how RHB #JomBiz supports micro-entrepreneurs, visit https://www.rhbgroup.com/jombiz.

PUTRAJAYA: Transport Minister Anthony Loke today announced that the government has appointed three new companies to conduct mandatory vehicle inspections (PPKM) alongside the Computerised Vehicle Inspection Centre (Puspakom). The appointed companies are Wawasan Bintang Sdn Bhd, which will operate in Port Klang, Gua Musang, and Mersing; Pakatan Petroleum Sdn Bhd, which will cover Rawang and Temerloh; and Beriman Gold Sdn Bhd, which will serve Kuching and Serian in Sarawak. He said the selection process considered financial stability, site feasibility, and alignment with the government’s designated PPKM service areas. “This appointment aligns with the decision of the Cabinet meeting on March 17, 2023, which approved the opening of mandatory motor vehicle inspection services under the Road Transport Act 198 to other qualified companies. “As previously announced, the ministry and the Road Transport Department (JPJ) developed and established the requirements, regulations, and procedures for selecting qualified companies,” he told reporters at a press conference here today. He added that the selected companies have two years to set up inspection centres, procure equipment, and obtain necessary approvals. JPJ will closely monitor their progress, and operational licences will only be issued once all requirements are met. “The appointed companies will have 24 months to complete infrastructure requirements, including facility development, procurement of inspection equipment, and obtaining approvals from relevant authorities. “During this period, MOT, through JPJ, will conduct continuous monitoring to ensure compliance with all PPKM operational standards,” he added. Loke also announced that to further expand PPKM services, MOT will reopen applications for the second phase from March 1 to June 30, 2025. He said unsuccessful applicants from the first phase, as well as other interested companies, are encouraged to apply. “The introduction of more inspection centres will increase competition, improve service quality, and enhance road safety,” he said. Loke clarified that Puspakom would maintain its operations as usual, with all its branches remaining open.–MALAYMAIL

KUALA LUMPUR: Petronas’ rightsizing efforts are to ensure that the national oil company can continuously contribute to nation-building, its president and chief executive officer Tengku Tan Sri Muhammad Taufik said today. Currently, Petronas has a workforce of 52,000, of which 16,000 are core enablers. The changes and dynamics of the global oil and gas sector demand that Petronas reinvents itself to be future ready, he said, adding that it is a long overdue process. Since its establishment, Petronas has contributed RM1.5 trillion in the form of dividend, state sales tax, cash payments, export duty, and national trust fund. “Petronas is a national oil company (NOC) but it has always operated as an international oil company (IOC). And our competitors have made such tough decisions as well,” he said at an editors briefing here today. He noted that globally, the oil and gas industry’s margin has been squeezed from what used to be 40-45 per cent to 20 per cent and Petronas has been experiencing similar margin pressure. “The current margin projections could even go down to 16-18 per cent,” he said. Tengku Muhammad Taufik said that to be able to continuously contribute nation-building, which means investing and expanding, for instance, in green energy and renewables, Petronas needs to have the right talent to be able to serve according to its clients’ demand. “Petronas has to decide if it’s going to remain relevant, not only at home, but also in the markets it operates and continues to invest in. “We can’t have a workforce that is not suited to carry out those agile package solutions that the markets are asking for now (involving) affordable, secure and more sustainable energy,” he said. Hence, Tengku Muhammad Taufik stressed that without “the bitter pill action, there will be a defined shelf life for Petronas.” Having passed the historic milestone marking its first 50 years of existence, Petronas must, in order to ensure its viability in the future, continuously endeavour to remain a high-performing organisation – one that is driven by productivity, innovation, sustainability, and a commitment to excellence, he said. The rightsizing effort will be done in a respectful manner, he said. Currently, the mapping of jobs and planning are being done. Employees will be informed in the second half of the year and the whole process is set to be completed by the end of 2025. “They will be given the necessary assistance,” he assured. Tengku Muhammad Taufik reiterated that in discharging its mandate as enshrined under the Petroleum Development Act 1974, Petronas remains fully committed to continue creating value for its shareholders. – BERNAMA

KUALA LUMPUR: Enterprise IT services provider TechStore Berhad (“TechStore”) (科技万库有限公司) has attracted overwhelming investor interest for its initial public offering (IPO), recording an oversubscription rate of 96.66 times ahead of its listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). Comprehensive IT Solutions Provider Through its subsidiaries (collectively, the “Group”), TechStore specializes in IT security and automation solutions, offering end-to-end services such as design, development, customization, installation, integration, testing, and maintenance for IT infrastructure. The Group provides comprehensive support for hardware, software, and infrastructure, catering to various industries, including transportation, utilities, hospitality, IT security, and logistics. Since its founding in 2011, TechStore has built a strong reputation, particularly in public transportation projects, where its solutions have been implemented in Malaysia’s LRT and MRT systems. The Group is also involved in the Malaysia-Singapore RTS Link project and serves a diverse clientele, including multinational corporations, public-listed companies, and government agencies. IPO Details TechStore’s IPO consists of 500,000,000 ordinary shares, comprising: 125,000,000 new shares issued at RM0.20 per share, raising an expected RM25.0 million. 25,000,000 existing shares offered via private placement to selected investors. The public portion of the IPO received 23,333 applications for 2,441,458,100 shares, valued at approximately RM488.3 million, reflecting an oversubscription rate of 96.66 times: Bumiputera portion: 11,890 applications for 1,097,912,500 shares (oversubscribed 86.83 times). Public portion: 11,443 applications for 1,343,545,600 shares (oversubscribed 106.48 times). Additionally, the 25,000,000 shares allocated to eligible directors, employees, and contributors to the Group’s success have been fully subscribed. Meanwhile, the private placements of: 12,500,000 new shares and 25,000,000 offer shares to selected investors, and 62,500,000 shares to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) …have also been fully placed out. Strong Market Confidence in TechStore TechStore’s Managing Director, Mr. Tan Hock Lim (陈玞霖), expressed his gratitude for the robust response: “We are deeply honoured by the overwhelming support for our IPO, which underscores the public’s confidence in TechStore’s fundamentals and future prospects. The funds raised will accelerate our expansion plans and position us to seize growth opportunities in the enterprise IT services industry.” “The enterprise IT services industry is critical to Malaysia’s digital transformation, helping businesses innovate and improve operational efficiency. With rising demand for advanced IT solutions—driven by 5G and digital infrastructure developments—we are committed to delivering high-quality, innovative solutions that meet evolving market needs,” he added. Utilisation of IPO Proceeds From the RM25.0 million raised, TechStore has allocated: RM11.5 million (45.9%) – Working capital RM2.7 million (10.9%) – Hiring business development personnel RM2.3 million (9.2%) – Capital expenditure (equipment, hardware, IT software, and a new Johor Bahru branch) RM5.0 million (20.0%) – Repayment of bank borrowings RM3.5 million (14.0%) – Listing expenses ACE Market Listing on 18 February 2025 TechStore is set to be listed on the ACE Market of Bursa Securities on Tuesday, 18 February 2025. Upon listing, it will have a market capitalisation of RM100.0 million, based on an issue price of RM0.20 per share and an enlarged share capital of 500,000,000 shares. M & A Securities Sdn Bhd is the Adviser, Sponsor, Sole Underwriter, and Placement Agent for the IPO exercise.

PETALING JAYA: Khazanah Nasional Bhd recorded a profit from operations of RM5.1 billion for 2024 while maintaining a robust realisable asset value (RAV) and a debt ratio of 3.2 times. Managing director Amirul Feisal Wan Zahir attributed the strong performance to disciplined monetisation strategies, steady dividend income, and fair value gains from global public equities. “2024 was a good year for us. Our net asset value (NAV) grew by RM18.8 billion to RM103.6 billion, up from RM84.8 billion in 2023. Meanwhile, our total portfolio size, as measured by RAV, rose by RM16.3 billion to RM151.3 billion from RM135 billion the previous year,” he said at the Khazanah Annual Review 2025 media briefing. The sovereign wealth fund also declared a RM1 billion dividend for 2024, bringing its cumulative dividend contributions to the government to RM19.1 billion since 2004. Malaysia’s Economic Resilience Amirul noted that Malaysia’s economy remained resilient in 2024, with GDP growth expected to accelerate to between 4.8% and 5.3%. The ringgit strengthened by 2.7% against the US dollar, while the FTSE Bursa Malaysia KLCI (FBM KLCI) posted an impressive 12.58% gain. Khazanah’s disciplined investment strategy, coupled with the country’s strong economic environment, drove a NAV time-weighted rate of return of 24.6%—a significant increase from 5.7% in 2023. Long-Term Growth and Future Strategy From a broader perspective, Khazanah’s NAV has grown from RM33 billion in 2004 to RM104 billion in 2024, achieving a compounded annual growth rate (CAGR) of 5.9%. “This growth aligns with Khazanah’s mandate to generate sustainable returns for the nation while enhancing Malaysia’s long-term wealth,” Amirul said. However, he acknowledged weaker performance in the private market due to the lagging effects of higher interest rates and a challenging financing and exit environment. Looking ahead, Khazanah plans to continue its value creation efforts and portfolio rebalancing strategy to strengthen its balance sheet and build a more resilient financial position.

HOUSTON: Rising trade tensions between the United States and China could lead to a decline in U.S. crude oil exports in 2025—the first drop since the pandemic—by restricting access to the Chinese market, analysts warn. This potential setback contrasts with President Donald Trump’s push to maximize U.S. oil and gas production. Since the 2015 repeal of a 40-year federal ban on crude exports, the U.S. has become the world’s third-largest exporter, trailing only Saudi Arabia and Russia. While exports grew marginally in 2024, the last recorded decline was in 2021, when the COVID-19 outbreak slashed global energy demand. “International demand for U.S. crude may be peaking, and the trade war could accelerate that shift,” said Matt Smith, an analyst at Kpler. Rohit Rathod, a senior analyst at ship-tracking firm Vortexa, predicts total U.S. crude exports will fall to 3.6 million barrels per day (bpd) in 2025, down from 3.8 million bpd in 2024, as Chinese tariffs reduce demand for American oil. China’s Role in U.S. Oil Exports China currently imports about 166,000 bpd of U.S. crude—roughly 5% of total U.S. oil exports. However, with Beijing imposing retaliatory tariffs, some of these shipments could stay in the U.S. or be redirected to other buyers. The affected volumes will likely consist of medium-density, high-sulfur crude, such as Mars and Southern Green Canyon, which accounted for about 48% of U.S. crude exports to China last year. These medium-sour grades are well-suited for U.S. refineries and could be absorbed domestically, especially if Washington follows through on threats to impose tariffs on Canadian and Mexican oil. “Medium sours are welcome barrels in the U.S. Gulf Coast. Refiners need it,” Rathod said. Lighter, low-sulfur crude—such as West Texas Intermediate (WTI)—which makes up the rest of U.S. exports to China, could find alternative buyers in Europe and India at competitive prices, analysts suggest. Shifts in Export Logistics and Market Response The Louisiana Offshore Oil Port handled nearly half of all U.S. crude shipments to China last year, according to Kpler. Another 25% came from Enbridge’s Ingleside facility in Texas, though Enbridge’s senior vice president, Phil Anderson, downplayed the impact, noting that China historically accounted for less than 15% of its shipments. “The market for light crude is very liquid globally,” Anderson said. Occidental Petroleum, one of the top suppliers of U.S. crude to China, shipped at least 13 cargoes of WTI Midland to China in 2024, per Kpler data. The company has yet to comment on the potential impact of tariffs. China’s Strategic Oil Shift For China, the effect of reduced U.S. oil imports is expected to be minimal. In 2024, U.S. crude made up just 1.7% of China’s total oil imports, down from 2.5% in 2023, amounting to approximately $6 billion in trade, according to Chinese customs data. Instead, China has been ramping up purchases from other sources. Imports from Canada rose by 30% last year to over 500,000 bpd, bolstered by the expansion of the Trans Mountain pipeline. Meanwhile, China has increasingly turned to discounted Russian and Iranian crude, further diminishing its reliance on U.S. oil.-REUTERS

PETALING JAYA: Carsome, a leading Malaysian car e-commerce platform, has entered into a strategic partnership with global consumer finance firm JACCS Co Ltd, aiming to introduce innovative financial solutions for car buyers and dealers. In a joint statement today, Carsome Group Inc and JACCS (Japan Consumer Credit Service) announced that JACCS will acquire a 49% stake in Carsome Capital Sdn Bhd, while Carsome Group will retain a 51% controlling share. JACCS is a member of Mitsubishi UFJ Financial Group. By leveraging JACCS’s international expertise and Carsome Capital’s deep understanding of the local market, the partnership aims to deliver tailored financial solutions, particularly for under-served segments in Malaysia. “The collaboration will also drive knowledge sharing to optimize risk assessment, strengthen credit governance, and implement best practices that enhance financial sustainability and portfolio performance,” the statement added. Carsome Group founder and CEO Eric Cheng highlighted the synergy between the two companies, stating that JACCS’s financial expertise combined with Carsome’s ecosystem will “redefine the mobility financing experience, empowering communities and driving economic growth across Southeast Asia.” JACCS president and representative director Ryo Murakami noted that after carefully assessing the automotive and financing landscape in the region, Carsome stood out as an ideal partner with strong growth potential. Carsome Capital Malaysia managing director Nicholas Wong emphasized that the collaboration will enable Carsome to serve currently under-served or unserved segments. He added that the partnership will introduce new capabilities and technologies, including AI-driven credit assessment, to expand financing access for dealers purchasing wholesale inventory. Founded in 1954 in Hakodate, Hokkaido, JACCS offers a range of financial solutions, including credit cards, auto financing, and home loans.

Design Bridge & Partners (DBP) has named Charlie Lowe as its new APAC Chief Strategy Officer (CSO), effective immediately. In this role, Lowe will lead the agency’s strategic vision across the APAC region, ensuring world-class delivery seamlessly integrated within DBP’s global strategy community. Lowe will oversee the agency’s strategic capabilities across the region, collaborating closely with regional leads and the global CSO to elevate DBP’s strategic offering. He will also spearhead key client projects, leveraging his extensive expertise in corporate branding, brand transformation, and integrated strategy to shape the agency’s approach to creating impactful brand interactions, according to a statement seen by MARKETING-INTERACTIVE. His appointment underscores DBP’s commitment to strengthening its strategic capabilities in the APAC region. Under his leadership, the agency aims to craft more compelling brand experiences that resonate deeply with audiences while accelerating its growth across key markets. Prior to joining DBP, Lowe spent four years at McCann Worldgroup SEA as CSO and regional strategy director. There, he led strategic initiatives that resulted in significant new business wins and major global and regional campaigns. His leadership played a pivotal role in McCann Worldgroup being named Integrated Marketing Agency of the Year in 2023. Lowe’s career spans over a decade at Ogilvy, where he built an extensive portfolio working across global hubs such as Melbourne, Beijing, and New York. He first joined OgilvyOne in Melbourne as a CRM strategist in 2009 before transitioning into digital strategy roles at DTDigital and Ogilvy Beijing. Rising through the ranks, he held leadership positions including associate director of social strategy for IBM Emerging Markets and regional strategy director in Singapore. Before leaving Ogilvy in 2020, he served as worldwide strategy director in New York. Throughout his career, Lowe has worked with renowned brands such as IBM, VW, Nestlé, British Airways, InterContinental Hotels, and Huawei. Reflecting on his new role, Lowe shared, “When I started speaking with DBP, I was struck by how incredibly talented, genuine, and engaging the team was. Beyond their impressive client list and work, I knew I wanted to be part of this culture.” Alexandra Cerruti, APAC Managing Director of DBP, added, “Lowe isn’t your typical brand strategist. With a background in communications strategy, he brings a fresh perspective that aligns with the evolving intersection of branding and communications. As clients demand seamless brand experiences, his passion and strategic insights will be invaluable in delivering holistic solutions that truly resonate. We are excited to leverage his expertise to drive success and create meaningful brand experiences.” Lowe’s appointment comes amid a wave of strategic leadership changes in the industry. Just last week, BBH Singapore appointed Stéphane Missier as Chief Strategy Officer, succeeding Chris Chalk, who departed in December 2023. Missier will lead a team of 12 strategists, working with clients including Samsung, Nike, UOB, and Income Insurance. Collaborating closely with Chief Creative Officer Sascha Kuntze and Managing Director Sid Tuli, he will further BBH Singapore’s global ambitions. With two decades of experience, Missier has led award-winning and culturally impactful campaigns for brands such as Nike, Team USA, FanDuel, and Bud Light.

Collektr, Asia-Pacific’s leading livestream auction platform for collectibles, has appointed Tunku Alizakri Raja Muhammad Alias as its chairman. This milestone reinforces Collektr’s vision to spearhead the rapidly evolving collectibles market, leveraging livestream commerce to create seamless and engaging trading experiences across the APAC region. Tunku Alizakri brings decades of leadership experience, having driven transformative growth in global and regional organizations. His expertise will be instrumental in shaping a dynamic ecosystem for collectors, investors, and sellers. The Asia-Pacific collectibles market is poised for significant expansion, fueled by livestreaming, AI-driven technologies, and increasing collector engagement—placing Collektr in a prime position to capitalize on this growing sector. As of 2024, the global collectibles market is valued at $484.6 billion (RM2 trillion) and is projected to grow at an annual rate of 6.2%, surpassing $1 trillion (RM4.4 trillion) by 2033. [RM1 = US$0.22] APAC accounts for approximately 30% of the global collectibles market, generating $91.8 billion in 2024. Growth in key markets like Malaysia, Singapore, and Thailand is expected to continue at a CAGR of 6.4%. Livestream commerce in APAC surged to $125 billion in 2023, with China alone contributing $104 billion, underscoring the transformative potential of livestream-based collectibles trading in the region. Malaysia’s e-commerce sector is projected to grow at a 14% CAGR, exceeding $11.3 billion by 2027, with collectibles emerging as one of the fastest-growing categories. This highlights Malaysia’s pivotal role in integrating culture and commerce in the digital economy. Southeast Asia’s e-commerce market is expected to reach $230 billion by 2027, driven by the rapid adoption of livestream commerce in Malaysia, Singapore, and Thailand. Malaysia’s livestream commerce segment alone is projected to reach $1.5 billion by 2027, solidifying its role as a key regional player. “Livestream commerce is the future of how people connect, transact, and build communities,” said Tunku Alizakri. “Collektr is uniquely positioned to bridge passions and commerce in this rapidly growing industry. I’m excited to collaborate with the team to shape the collectibles sector and redefine what is possible in the new economy.” He also emphasized the importance of a supportive business environment, particularly in AI-driven industries, and the role Collektr can play in creating opportunities for gig workers in this evolving landscape. “Appointing Tunku Alizakri marks the next phase of our growth journey,” said Adlin Yusman, CEO of Collektr. “We aim to attract strategic investors, establish physical spaces for the collectibles community, and integrate cutting-edge technology to enhance the user experience. As we scale across APAC, we hope to demonstrate how this sector can become a major contributor to the region’s economy.” With livestream commerce gaining momentum and driving greater consumer engagement, Collektr is poised to transform how collectibles are traded, expanding both market opportunities and cultural connections. The company’s mission is to revolutionize the collectibles trading experience by bringing transparency, trust, and excitement to the process. Under Tunku Alizakri’s leadership, Collektr invites investors, partners, and collectors to help shape a future where livestream commerce and collectibles intersect, fostering both business growth and cultural enrichment. A visionary leader, Tunku Alizakri has a proven track record in governance, strategy, and transformative change. As the former CEO of the Employees Provident Fund (EPF), he spearheaded modernization efforts that significantly enhanced financial returns for millions of Malaysian workers. He has also served as chairman of MAVCAP and Penjana Kapital, playing a pivotal role in advancing Malaysia’s venture capital and startup ecosystem. Additionally, he holds board positions at some of Malaysia’s most influential organizations, including Petronas Dagangan Berhad, Bumi Armada Berhad, Prudential BSN Takaful, and RAM Holdings Berhad (RAM Rating Services Berhad), where he provides strategic insights to drive growth and governance excellence.

TOKYO:  Japan’s Nissan may call off its merger talks with Honda, according to a person familiar with the matter, adding that Nissan’s board members were due to meet in the near future to decide a course of action. The development puts in doubt a tie-up that would create the world’s third-largest automaker by sales and raises fresh questions about how hard-hit Nissan could ride out its latest crisis without external help. Reports of the merger talks ending sent shares of both carmakers higher today, with Honda up more than 2 per cent and Nissan up 1.6 per cent against a slight decline in Tokyo’s Nikkei 225 index. Honda, Japan’s second-largest car maker, and Nissan, its third-largest, last year said they were in discussions to merge their businesses, in what would mark a pivotal change for an industry that faces a vast threat from China’s BYD and other new electric vehicle entrants. But those talks have been complicated by growing differences on both sides, according to two people familiar with the matter, both of whom declined to be identified because they were not authorised to speak to the media. Nissan’s board is due to soon meet to discuss calling off the merger talks after Honda sounded it out about becoming a subsidiary, one of the people said, adding that such an arrangement was a departure from the original spirit of their discussions. Honda, with a market value nearly five times bigger than Nissan, is increasingly worried about its smaller rival’s progress in its turnaround plan, said the other person. Japan’s Asahi Shimbun newspaper earlier reported that the merger could be called off. Spokespeople for both companies today did not comment on whether merger talks were off, but said they would make an announcement in mid-February, as previously flagged. Nissan has been hit harder than some other carmakers by the shift to EVs, having never fully recovered after years of crisis sparked by the arrest and ouster of former Chairman Carlos Ghosn in 2018. The tie-up talks have coincided with the disruption posed by potential tariffs from U.S. President Donald Trump. Tariffs against Mexico would be more painful for Nissan than for Honda or Toyota, according to analysts. Nissan’s long-term alliance partner Renault had said it would be open in principle to the merger with Honda. The French automaker owns 36 per cent of Nissan, including 18.7 per cent through a French trust. — REUTERS