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Investment & Market Trends, News

HeiTech Padu Berhad Targets Stronger Earnings Growth after Returning to Profitability for FY2023

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SUBANG JAYA: HeiTech Padu Berhad (HeiTech or the Group) has returned to profitability in the financial year ending December 31, 2023 (FY2023), reporting a profit of RM7.2 million to Bursa Malaysia compared to losses of RM10 million in 2022. This turnaround of RM17.2 million is attributed to improved profit margins resulting from effective cost management and successful acquisition of new contracts in both public and private sectors amidst heightened competition and economic uncertainty. Contracts secured include those from key ministries and agencies such as the Ministry of Education, Ministry of Domestic Trade and Cost of Living, Ministry of Health, Inland Revenue Board of Malaysia, and an extended contract with the Immigration Department of Malaysia.   Salmi Nadia Mohd Hilmey, Group Managing Director and Group Chief Executive Officer, emphasized HeiTech’s commitment to delivering value-added solutions and services to customers, driving stronger earnings growth. Over the past 30 years, HeiTech’s track record in developing and managing technological solutions for public and private sector clients has fueled its growth. The company’s success in securing high-profile government contracts is attributed to its consistent delivery and merit-based approach. Established as a leading player in Malaysia’s IT industry, HeiTech has driven technological transformation for governmental, financial, and commercial organizations through strategic collaborations and partnerships. It has evolved from a system integrator and managed infrastructure provider to offering digital and emerging products like smart parking systems, e-KYC, payment gateways, and smart applications for local councils, cooperatives, schools, and teaching portals. HeiTech’s regional expansion initiatives include ventures into Indonesia, where it launched financial systems for cooperatives, a school administration system, and a mobile app for teachers and students through PT DesaTech Nusantara, an investee company. Looking ahead, HeiTech aims to become a comprehensive Digital Technology Service Provider by leveraging emerging technologies, broadening operational capabilities, expanding its customer base, diversifying its business, and enhancing its financial position.

Energy & Technology, News

Jiankun International Unveils Green Energy in Taman Panchor Jaya

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KUALA LUMPUR: Jiankun International Bhd (JIB) has inked a memorandum of understanding (MoU) with Micro Energy Holdings (M) Sdn Bhd (MEH) to advance an eco-conscious future further. This partnership illustrates the potential of sustainable development in the real estate industry and underlines a commitment to innovation and responsible development by installing solar photovoltaic (PV) systems in JIB’s Taman Panchor Jaya @ Nibong Tebal, Penang. JIB Executive Director and Chief Executive Officer Edwin Silvester Das said this initiative with MEH is more than an advancement in the company’s project portfolio. “It is a leap towards a greener Malaysia. By integrating sustainable solutions like solar energy into our luxury housing development, we aim to create not just homes but a legacy of environmentally responsible living,” he said in a statement. According to Edwin, the Taman Panchor Jaya @ Nibong Tebal will set a benchmark for environmentally conscious developments without compromising elegance and comfort. This initiative, expected to be completed in July 2026, will feature 116 double-storey units equipped with a minimum of 2.2KW solar systems, underscoring JIB’s investment in green technology and its environmental and community benefits. “The partnership between JIB and MEH for the Taman Panchor Jaya @ Nibong Tebal project reflects our foresight in melding luxury with eco-efficiency. “We are steering the Malaysian property market towards a horizon where luxury and sustainability coexist,” Edwin said. JIB announced in December 2023 that it had acquired a 99.99% stake in Oriental Link Properties (M) Sdn Bhd (OLP). The acquisition enlarged JIB’s footprint and enriched its portfolio with OLP’s high-value projects. The Taman Panchor Jaya @ Nibong Tebal Penang represents a gross development value (GDV) of RM72.69 million and will be a gated community, indicating substantial returns rooted in strategic location and advanced planning. The development, nestled on a verdant 7.58-acre land, is projected to attract buyers keen on green energy and sustainable living. MEH Chairman Tan Sri Abdul Aziz Jaafar said the company’s collaboration with JIB on the Taman Panchor Jaya project epitomises the fusion of modern technology and environmental stewardship. “By harnessing solar power, we contribute to a sustainable future and set a precedent for integrating green energy solutions in real estate development. “This partnership is a testament to our commitment to innovation and dedication to promoting sustainable living across Malaysia,” he said. JIB Executive Director Datuk Ir Donald Lim said this green initiative aligns with Malaysia’s aspirations for sustainable urban development and supports the nation’s agenda to reduce its carbon footprint for the country. “The project promises to lower energy costs for residents, increase the value of their properties, and contribute to the overall welfare by fostering a healthier environment,” he said.

Energy & Technology, News

MITI Maintains Target of 10k Charging Stations by 2025 Despite Setbacks

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KUALA LUMPUR: A total 2,214 electric vehicle (EV) charging stations were installed as of 20 March 2024 as the Ministry of Investment, Trade and Industry (MITI) maintains its commitment to developing the EV charging infrastructure and reaching its target of 10,000 charging points by 2025. Under the Low Carbon Mobility Blueprint (LCMB) 2021-2023, 9,000 units of those charging points will be altering current (AC) chargers and 1,000 units will be direct current (DC) fast chargers. “Out of the 2,214 EV charging stations already installed, 1,741 AC chargers and 473 are DC fast chargers,” Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said during a press conference after announcing the ministry’s first-quarter 2024 report card. On the Electric Motorcycle Use Promotion Scheme (MARiiCas) programme, Tengku Zafrul said 1,995 applications were approved with rebates valued at RM4.8 million as of 31 March 2024. Earlier in January, he said that the government may not be able to meet the target of installing 10,000 charging stations around the country by next year. Having that in mind, Tengku Zafrul said that he and his Cabinet colleagues would re-examine if the target is feasible. “It seems that the target is quite aggressive because there are many issues that we need to address. “It involves agencies such as the Energy Commission, local authorities and other parties,” he said, adding that the procedures to install the charging stations needed to be streamlined as there had been complaints from equipment suppliers. “One of the main complaints was that it took a long time to get approval to set up a charging station. We need to make it seamless,” he commented. — BERNAMA

Singapore
Energy & Technology, News

Funds raised by Singapore’s tech startups up 59% in 2023

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SINGAPORE: Singapore’s early-stage technology start-ups secured $402 million (S$548 million) in funding in 2023, a 59 percent increase from the $253 million raised in 2022, according to SGInnovate, the national investment arm. The number of seed-stage deals also rose by 50 percent, from 20 in 2022 to 30 in 2023, across four key sectors: advanced manufacturing, agrifood and sustainability, and health and biomedical sciences. SGInnovate noted these figures in its report on the sector’s development in 2023, highlighting a growing interest in emerging tech investments as Singapore’s ecosystem matures. SGInnovate examined early-stage start-ups established between January 1, 2019, and December 31, 2023, defining emerging technology start-ups as those developing tangible products like devices, machinery, food, and pharmaceuticals based on physical sciences, life sciences, and engineering. Tong Hsien-Hui, SGInnovate’s executive director, remarked that these trends reflect Singapore’s evolving and dynamic emerging tech landscape, with specialized investors increasingly supporting specific industry verticals. Agrifood and sustainability emerged as leading sectors in funding and start-up incorporations, likely driven by public and private initiatives. Both sectors saw growth in funding events year-on-year, with the agrifood sector securing 13 deals in 2023 (compared to eight in 2022) and the sustainability sector closing 16 deals in 2023 (versus 12 in 2022). Despite overall increases in funding and deals, the number of start-ups incorporated in 2023 across the four sectors declined from 35 in 2022 to 25 in 2023. SGInnovate attributed this to ongoing macroeconomic uncertainties, potentially leading to deferred incorporations. Looking forward, SGInnovate anticipates increased private market investments in emerging technologies in 2024, especially with predicted rate cuts, and remains optimistic about start-ups addressing long-term challenges, supported by Singapore’s policy initiatives.

Energy & Technology, Investment & Market Trends, News

PGB Intensify Efforts Towards Green Initiatives Amid Strong Financial Performance

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KUALA LUMPUR: Petronas Gas Bhd (PGB) is committed to creating secure high-impact projects by leveraging on its core competencies and exploring industry-adjacent opportunities. This was revealed during the group’s 41st annual general meeting (AGM), where PGB reiterated its efforts of integrating sustainability into all decision-making processes, prioritising economic growth and sustainable development equally at all levels. “PGB’s efforts in upholding strength, resilience and sustainability are anchored in its strategic agenda of pursuing growth while maintaining commercial project and operational excellence,” the group said in a statement released in conjunction with the meeting. During the virtual session of the AGM, PGB Managing Director and Chief Executive Officer Abdul Aziz Othman highlighted the group’s strong 2023 financial performance with profit earnings increasing by 8.1% to RM1.9 billion compared to the previous year. The positive results were attributed to continued operational excellence and robust margins from the utilities segment as well as higher contribution from joint venture companies. “Backed by improved performance, the group declared a total dividend of 72 sen per share,” he said. For PGB’s full financial year ended 31 December 2023 (FY23), the group reported a total revenue of RM6.45 billion, an increase of 4.6% from RM6.16 billion posted in FY22, which was mainly contributed by the increased revenue from the utilities segment on the back of higher product prices in tandem with elevated fuel gas price and higher electricity tariff. By maintaining its successful performance and reliability across all its plants and facilities, the group was able to ensure steady earnings from long-term contracts under gas processing, gas transportation, regasification and utilities segments amidst challenging market conditions on the back of long-term agreements. For the fourth quarter ended 31 December 2023 (Q4 FY23), the group’s revenue declined by 3.1% to RM1.58 billion compared to RM1.63 billion posted in Q4 FY22 due to lower revenue from utilities and regasification segments. The lower utilities revenue was mainly due to lower product prices and customers’ offtake, while regasification revenue was lower. “Despite the challenging business environment, PGB still managed to record a strong financial performance in FY23. As we move forward, we continue to explore opportunities for growth within the National Energy Transition Roadmap (NETR),” Abdul Aziz said. He added that the group also initiated efforts to pursue a greener portfolio to support its target to achieve Net Zero Carbon Emissions by 2025.

News, Property

Sunway Velocity 3 Preview: RM 1.28 Billion Integrated City

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KUALA LUMPUR: The Master Community Developer, Sunway Property, has launched its sales gallery for its latest Signature Home, Sunway Velocity 3, and will begin showcasing the initial phase of development on May 4. Following the success of Sunway Velocity and Sunway Velocity TWO, where all residential units were sold out, and both commercial units are fully occupied, Sunway Velocity 3 is situated in Kuala Lumpur. Phase 1 of the project spans 3.43 acres, housing two blocks of serviced residences with an estimated gross development value of RM 1.28 billion. This development will be interconnected with Sunway Velocity Mall. Chong Sau Min, CEO of Sunway Property Central and Northern Region, highlighted that Sunway Velocity 3 is designed to cater to various demographics in Kuala Lumpur, including working adults, young professionals, commuters, small families, first-time homebuyers, and investors. Connected to Sunway Velocity and Sunway Velocity TWO via a link bridge, Sunway Velocity 3 offers seamless access to lifestyle amenities such as Sunway Velocity Mall, Sunway Medical Centre Velocity, Sunway College @ Velocity, and more. It is directly linked to MRT & LRT stations and strategically located near major highways. With its proximity to the TRX Financial Hub and unique built-in features like smart door locks and sub-meters for energy monitoring, Sunway Velocity 3 is seen as a lucrative investment opportunity. The development incorporates Sunway Property’s sustainable design philosophy (SDDA), ensuring features that promote sustainability, innovation, health, wellness, and community experience. Sunway Velocity 3 offers units with 2 to 3+1 bedrooms ranging from 721 sq. ft. to 1,076 sq. ft., designed to maximize natural lighting and ventilation. It also features express ramps for easy access to multi-level car parks and 24-hour security. Buyers can take advantage of the Signature Series 2024 campaign until June 30, 2024, featuring attractive deals and experiences for homebuyers.

Energy & Technology, News

Renuka Sharma Promoted to Director of Energy Solutions APAC at BayWa r.e.

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BANGKOK: Renuka Sharma has been promoted to Director of Energy Solutions for the Asia-Pacific (APAC) region at BayWa r.e., a global renewable energy developer and service provider. This promotion recognizes Renuka’s outstanding leadership and her significant contributions to the company’s growth and influence in renewable energy. With more than 18 years of experience spanning various industries, Renuka has consistently demonstrated her ability to navigate complex projects and drive the energy transition forward. Previously, she served as Managing Director of BayWa r.e. Thailand, leading initiatives to promote renewable energy adoption in Southeast Asia. In her new role, Renuka will be responsible for guiding the strategic direction and operational performance of BayWa r.e.’s Energy Solutions business throughout the APAC region. Drawing from her extensive experience with companies like SunEdison and Brookfield Renewables, Renuka is well-positioned to foster innovation and sustainable growth within the organization. Reflecting on her promotion, Renuka remarked, “I am deeply honoured and excited to take on this new role at BayWa r.e. Our region is at a pivotal moment in the energy transition, and I am committed to leveraging our collective strengths to drive positive change and deliver sustainable solutions for our customers and communities.” Renuka, who holds degrees in Law and Russian, as well as an LLM in Banking and Finance Law from Kings College, London, is also a strong advocate for workplace diversity. Daniel Gaefke, Global Director of Projects & Executive Board Member at BayWa r.e., emphasized his confidence in Renuka’s leadership to drive the company’s energy transition objectives in APAC. BayWa r.e.’s Energy Solutions team has been active in Southeast Asia since 2019, delivering projects with a combined capacity of nearly 100MW for notable corporations in Thailand, Vietnam, Malaysia, and more. Their recent partnership with SUSI Partners underscores their commitment to advancing large-scale rooftop PV projects with major C&I corporations.

News, Property

IRDA Sets RM636 Bil Investment Goal to Place M’sia as One of Top 30 Global Economies

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KUALA LUMPUR: The Iskandar Regional Development Authority’s (IRDA) target to achieve cumulative investments of RM636 billion by 2023 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness. Prime Minister Datuk Seri Anwar Ibrahim said that during the same period, IRDA is also aiming for a gross domestic product (GDP) growth rate of 5.5-6.5% and a GDP per capita of RM58,800. “I believe that the growth targets for Iskandar Malaysia will also be driven by initiatives such as the Johor-Singapore Special Economic Zone (JS-SEZ) and the Forest City Special Financial Zone,” he said in a statement on X. During the 32nd IRDA Members’ Meeting that the Prime Minister chaired, the future direction of the Corridor Authority was examined, along with the coordination of the Iskandar Malaysia Comprehensive Development Plan III (2022-2023) under the MADANI Economy agenda. “The meeting also discussed strategic initiatives to improve the Iskandar Malaysia Investment Service Centre and enhance socio-economic development through equitable job matching,” said Anwar, who is also the Finance Minister. He added that this is in line with the government’s decision to restructure the country’s investment promotion agencies, starting with the alignment of function and roles of investment-related regional economic corridors. The meeting was also attended by Johor Menteri Besar Datuk Onn Hafiz Ghazi; Economic Minister Rafizi Ramli; and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. — BERNAMA

Investment & Market Trends, News

ATX Semiconductor to Boost Investment in Melaka to RM952 Mil

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MELAKA: ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka, over the next five years for its second-phase business expansion. Chief executive officer Chris Hsu said the company has already invested more than US$55 million (RM258 million) in the group’s inaugural manufacturing facility outside of China, in Free Trade Zone III, Batu Berendam here. Hsu added that production is slated to commence in the first half of 2026. “The new facility has initiated manufacturing activities and will expand production capacity to better serve customers in Malaysia and surrounding regions,” he said during a press conference following the opening ceremony of ATX Semiconductor (Melaka) Sdn Bhd here today. Hsu highlighted the potential for job creation, with over 2,000 jobs expected to be generated in the coming year. He emphasised the positive impact on the economy and employment opportunities in Melaka as well as the facilitation of technology transfer and talent development between China and Malaysia. The event was also attended by Melaka State Women’s Affairs, Family Development and Welfare Committee chairman Datuk Kalsom Nordin. Hsu commented on ATX Group’s strong presence in China, with leading packaging and test solutions, and noted that the new facility in Melaka would leverage this expertise. “ATX currently operates six manufacturing plants worldwide, with five in China and one in Melaka. “This plant marks not only the first ATX Semiconductor facility in Malaysia but also the first ATX manufacturing plant outside China,” he added. Hsu added that ATX’s products and services cater to various industries, including communication, automotive, consumer, industrial, high-performance computing and medical sectors. – BERNAMA

Energy & Technology, News

Meta Bright Enters Solar Supply Agreement to Power Hospitality Operations

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KUALA LUMPUR: Meta Bright Group Berhad (“MBGB”), in its ongoing commitment to sustainable and eco-friendly energy solutions, announced today that its wholly-owned subsidiary, FBO Land (Serendah) Sdn. Bhd. (“FLSBB”), along with Doople Tech Sdn Bhd (“Doople”), has signed a solar supply agreement with Cherengin Hills Sdn. Bhd. (“Cherengin Hills”). This agreement represents a strategic step towards enhancing sustainable practices in the hospitality industry and supporting Malaysia’s national energy objectives. According to a filing with Bursa Malaysia, FLSBB will oversee the installation, maintenance, and operation of a solar photovoltaic system at Cherengin Hills’ properties in Pahang. This system will supply all net electricity output for 21 years from the start of operations. Cherengin Hills, primarily engaged in hotel, motel, and holiday camp operations, stands to benefit from reduced energy expenses and a diminished carbon footprint, while FBO Land aims to leverage the carbon credits generated by the system. This collaboration follows MBGB’s recent partnership with Doople Tech Sdn. Bhd., announced on 19th April 2024, which focused on renewable energy ventures. By combining Meta Bright’s investment capabilities with Doople Tech’s operational expertise, MBGB is eager to explore targeted opportunities in solar energy initiatives within the hospitality sector. This marks MBGB’s initial entry into solar solutions tailored for hospitality, with intentions to further expand in this field. Given the hospitality industry’s strong recovery post-pandemic, driven by rising travel demand and a renewed emphasis on sustainable practices, the timing is ideal for introducing renewable energy solutions. Mr. Derek Phang Kiew Lim, Executive Director of Corporate and Strategic Planning at Meta Bright, commented, “Cherengin Hills is taking a commendable step towards sustainability, and we are pleased to facilitate this transition. By harnessing solar energy, we contribute positively to the environment and demonstrate the economic viability of green initiatives in the hospitality sector.” “MBGB’s venture into renewable energy underscores a broader strategy of responsible corporate stewardship and reflects the Group’s forward-thinking approach in aligning business operations with global sustainability trends,” Mr. Derek Phang added. The partnership with Cherengin Hills signifies another significant achievement for MBGB as it continues to strengthen its position as an innovative player in Malaysia’s business landscape. With a focus on long-term sustainability and growth, MBGB remains committed to leading the way in eco-friendly business practices. MBGB is pleased to announce that the completed installation value of projects to date is approximately RM3.55 million. Furthermore, the company has ongoing projects valued at around RM11.89 million.

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