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KUCHING: Sarawak’s plans to build an international airport and a new port in the state’s capital are two mega projects that will boost the state’s economy for the long term. Premier Tan Sri Abang Johari Tun Openg said both projects will be equipped with advanced technology and international standard facilities, thus making Kuching a strategic location for the shipping and aviation sectors in the region. “This will be a catalyst to boost our economic development, especially in terms of connectivity, tourism and institutions that can develop our economy as a whole, beyond 2030. “Both of these are strategic plans in us becoming a hub because we are in the western part of Borneo and among (those contributing to) the shipping traffic and also flights from west to east Borneo,” he said during a Memorandum of Understanding (MoU) signing between Innocement Sdn Bhd and PMW Industries Sdn Bhd, which aims to establish a manufacturing facility in Tanjung Manis for concrete piles, poles and related products. According to Abang Johari, Doha International Airport, Qatar will be used as a model for the development of the new airport. “We are now (in the process of) appointing experts who may be involved in the planning (of the new airport). I think it is estimated to be completed within 3 years so we are in the planning stage,” he said. Guidance from World Bank Needed for Global Carbon Trade At the same time, the Sarawak government has sought cooperation from the World Bank to assess the accounting principles needed to be used in the assessment of the global carbon trade, said Abang Johari. He added that the cooperation is important considering that carbon trading as a new form of trade is quite risky and Sarawak needs guidance from the World Bank as a credible global body. “We need to work with credible parties since there are people who will try to deceive or bogus consultants. So, we have to be guided by the World Bank,” he commented. According to him, due to the absence of a protocol for the calculation of carbon in world trade, the London Protocol of 1996, which is an international agreement regarding the regulation of carbon transfer across borders, has become the baseline. Abang Johari said he had also informed Prime Minister Datuk Seri Anwar Ibrahim about the need for the central government to improve the existing legislation regarding the energy business to include matters related to carbon trading. — BERNAMA

KUALA LUMPUR: About 80% of diesel users will receive enough under the Budi Madani programme, which provides a monthly cash assistance to make up the difference between the current diesel price and the new price to be determined later. The Budi Madani programme complements the government’s existing efforts to target diesel subsidy through the Ministry of Domestic Trade and Cost of Living’s MySubsidi Diesel system. Under the initiative, eligible individual owners of diesel vehicles, including small farmers and plantation smallholders, will receive RM200 per month in conjunction with the implementation of diesel subsidy targeting. Finance Minister II Datuk Seri Amir Hamzah Azizan said the cash aid of RM200 per month was determined after studying data in terms of usage as well as data from the Department of Statistics Malaysia (DoSM). “The data came from surveys in Malaysia involving diesel vehicles, especially in Peninsular Malaysia,” he said during a programme on targeted diesel subsidy implementation. Therefore, Amir Hamzah said that the assistance can cover the price rise as cash assistance is the mechanism chosen based on existing data. He also said that the Madani Economy framework focuses on 3 important areas, including raising the ceiling by expanding the national revenue to allow reinvestment towards matters seen as important for the people, enhancing the people’s well-being and boosting the country’s governance to make it more efficient. “The targeted subsidy implementation is an initiative that fulfils the 3 focus areas. If we can reduce existing leakages, the nation’s revenue will rise and we can use it to benefit the people in terms of infrastructure, healthcare and education,” he explained. According to him, the diesel subsidy payout, which was only RM1.4 billion in 2019, had swelled tenfold to RM14.4 billion last year. The estimated RM4 billion in savings from the diesel subsidy rationalisation is expected to give a larger fiscal space for the government in order to raise the quality of various services that are important to the people. He expressed hope that the public would understand that the government’s efforts in implementing measures to revive the national economy were for the people’s benefit and to achieve better fiscal space for the nation. — BERNAMA

KUALA LUMPUR: AHAM Asset Management Berhad (“AHAM Capital” or “the Company”) proudly announces the launch of the AHAM World Series – Biotechnology Fund (“the Fund”). This new wholesale feeder growth fund offers investors diversified exposure to the rapidly advancing biotechnology sector. The Fund’s strategy involves primarily investing in the Janus Henderson Horizon Biotechnology Fund (“Target Fund”), managed by Janus Henderson (“Target Fund Manager”). To achieve its objectives, the Fund will allocate at least 85% of its net asset value (NAV) to the Target Fund, with the remaining 15% potentially invested in money market instruments, deposits, and cash. Anton Tan, Chief Officer of Product Solutions & Customer Experience at AHAM Capital, remarked, “Biotechnology companies lead scientific innovation, significantly advancing our understanding of genetics to develop new treatments for major diseases. Over the past decade, the number of FDA-approved drugs has more than doubled, from 121 to 243, demonstrating substantial scientific progress. “Healthcare spending is set to rise due to demographic shifts in the US, aging populations, and globalization. These long-term trends create a favorable environment for biotechnology investments. Despite the sector’s recent downturn, it is now trading at a significant discount to the broader market, offering a unique ‘innovation on sale’ opportunity. “The biotechnology sector encompasses a wide range of opportunities, from small to large-cap companies, providing diversification for investors’ portfolios. By investing in this healthcare revolution, investors can benefit from ongoing breakthroughs in biotechnology,” Anton added. Andy Acker, Portfolio Manager of Janus Henderson, shared his insights on the sector’s outlook: “Biotechnology is experiencing unprecedented innovation, driven by advances in life science tools, genetic engineering, and new treatment modalities for diseases such as cancer, autoimmune disorders, and rare genetic conditions. These advancements present opportunities to identify the next blockbuster therapies and generate alpha for clients. “However, success in biotech is highly binary, with a pronounced disparity between winners and losers. To mitigate this, the Janus Henderson biotechnology team combines investment experience, scientific expertise, and proprietary statistical models to estimate the success probability of drugs in clinical development. The team also considers perspectives from physicians, patients, and payers to evaluate the commercial prospects of new therapies, aiming to achieve the best investment outcomes for our clients.” The Fund is ideal for sophisticated investors seeking capital appreciation with a medium to long-term investment horizon. The Fund’s base currency is USD, with three available currency classes: USD Class, MYR Class, and MYR Hedged-Class. The minimum investment amounts are $10,000 for the USD Class and $30,000 for the MYR Class and MYR Hedged-Class. Investors are encouraged to read and understand the Fund’s Product Highlights Sheet and Information Memorandum dated 30 May 2024 before investing. For more information, visit aham.com.my.

PETALING JAYA: Ancom Nylex Berhad (“ANB”) has taken a significant step towards environmental stewardship and corporate responsibility by relaunching its enhanced Environmental, Social, and Governance (“ESG”) framework. Marking World Environmental Day, this grand event underscores ANB’s commitment to decarbonizing its operations and achieving carbon neutrality by 2027. Central to this initiative is ANB’s new Corporate Sustainable Purpose: “Embracing Chemicals for a Sustainable Tomorrow.” This new purpose emphasizes the responsible development and use of chemicals, ensuring safety for both people and the environment. ANB aims to contribute to a healthier planet for future generations through several key strategies. Firstly, ANB is pioneering methods to produce goods using less energy and generating less waste. This involves adopting renewable resources and recycling materials, reducing environmental impact while enhancing operational efficiency. Additionally, ANB is committed to minimizing pollution from its chemical production processes by capturing emissions before they can pollute the air and treating waste to prevent toxicity, thereby protecting natural ecosystems and public health. The relaunch event was a significant gathering attended by the CEOs of Ancom Nylex Berhad and its subsidiaries. During the meeting, ANB Group CEO Lee Chuen Wei emphasized the importance of the new ESG framework in driving the company’s sustainability goals. Mr. Lee stated, “This enhanced framework is not just a corporate obligation but a moral imperative to connect with people and raise awareness about the vital aspects of ESG. Relaunching our ESG framework on World Environmental Day underscores our commitment to decarbonizing operations and achieving carbon neutrality by 2027. The acquisition of Green Lagoon Technology, a biogas company that absorbs significant bio-methane gas or CO2e, positions the Group as effectively carbon neutral. Chemicals are essential in our daily lives, and ANB is dedicated to creating sustainable value in the chemical-related business, engaging both workplace and community in our enhanced ESG framework.” The strategic relaunch of ANB’s ESG framework aligns with global efforts to combat climate change and promote sustainable development. By embracing these initiatives, ANB is positioning itself at the forefront of the industry, advocating for a future where economic growth and environmental preservation go hand in hand. The enhanced ESG framework and the new Corporate Sustainable Purpose are set to propel ANB towards its ambitious goal of carbon neutrality by 2027. Through continuous innovation and commitment to green practices, ANB is not only improving its environmental footprint but also setting a benchmark for others in the pursuit of a sustainable tomorrow.