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Investment & Market Trends, News

Meta Bright Partners with Doople Tech for RE Venture

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KUALA LUMPUR: Meta Bright Group Bhd (MBG), via its wholly-owned subsidiary, FBO Land (Serendah) Sdn Bhd (FBO Land), signed a subscription and joint venture agreement with Doople Tech Sdn Bhd (DTSB).   In a filing with Bursa Malaysia, MBG said the agreement entails FBO Land to subscribe 1,000,000 redeemable non-convertible preference shares (RNCPS) at an issue price of RM1.00 per RNCPS in a new joint venture company to be incorporated. The new joint venture company will identify, invest in, and develop renewable energy (RE) projects, particularly those requiring Bumiputera’s participation. This initiative perfectly aligns with MGB’s commitment to supporting Malaysia’s national energy roadmap and contributing to a greener planet. MBG executive director of corporate and strategic planning Derek Phang Kiew Lim said the company looks forward to its partnership with DTSB, which has expertise in the solar sector and is experienced in the commercial and industrial (C&I) front. “This partnership allows MBG to leverage its position as a listed company to fund promising renewable energy projects, while DTSB’s technical proficiency ensures exceptional execution,” he said in a statement. Besides expansion into sustainable energy, the joint venture also promises substantial financial benefits. FBO Land is set to receive a yearly cumulative preferential dividend of 8 per cent per annum, creating a stable, recurring income stream over the five-year tenure of the RNCPS. This collaboration highlights the synergistic potential between MBG’s financial capabilities and DTSB’s operational expertise. The focus will particularly be on niche markets within the solar C&I sector, which are currently underserved by larger players. This targeted approach is expected to unlock new opportunities and drive growth within Malaysia’s renewable energy sector. MBG reported that the total value of projects that have completed installation is approximately RM3.55 million. Additionally, the company has projects currently in progress valued at around RM11.89 million.

MATRADE
News

Matrade, Amazon Team Up to Enhance Cross-border E-commerce

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KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) will enhance cross-border e-commerce among small and medium enterprises by partnering Amazon in a programme that allows products to be sold internationally via Amazon’s e-stores. The year-long collaboration is in response to growing demand from Malaysian businesses, a joint statement said. “The two parties will join hands to offer quarterly outreach events throughout 2024 to raise awareness of cross-border e-commerce and to help Malaysian brand owners while introducing Malaysian brands and products to customers in the US,” the joint statement said. The programme, known as Amazon Global Selling, includes offline events in Kuala Lumpur, Penang and Johor Bahru with in-person workshops to provide insights and guidance to empower local entrepreneurs and to enhance online engagements with tailored training and content designed to equip Malaysian sellers. “The course contents cover the end-to-end journey of an Amazon seller, including account registration, product preparation, compliance, listing, shipping and advertising,” the statement said. MATRADE chief executive officer Datuk Mohd Mustafa Abdul Aziz said the collaboration aims to equip Malaysian SMEs with the knowledge and resources to expand their presence on Amazon’s e-stores and grow their brands internationally. “This initiative complements the MADANI Economy Framework, the National Trade Blueprint, and the New Industrial Master Plan (NIMP) 2030 all of which underscore digitalisation and cross-border e-commerce as a fundamental catalyst in driving Malaysia’s economic growth and resilience,” he said today. The Access Partnership Report 2023 predicted Malaysias e-commerce export value to surge 14 per cent annually to reach an estimated RM36.2 billion by 2027. Head of Amazon Global Selling in Southeast Asia Anand Palit said Malaysia’s e-commerce export sector projections highlight much potential in the region. —BERNAMA

Investment & Market Trends, News

Malaysia’s Economic Expansion Estimated at 3.9% in Q1

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PETALING JAYA: Malaysia’s economy expanded by 3.9% in the first quarter of the year according to preliminary figures released by the statistics department. This growth represents an improvement from the 3% seen in the previous quarter, which was affected by lower export activity. Chief statistician Uzir Mahidin highlighted that the services sector drove the Q1 growth, increasing by 4.4%, led by gains in wholesale and retail trade, transport and storage, and business services. The construction sector notably surged by 9.8%, largely propelled by civil engineering projects. Manufacturing rebounded with a 1.9% growth after a contraction of 0.3% in the preceding quarter. Agriculture expanded by 1.3%, supported by increased oil palm and livestock production. The mining and quarrying sector grew by 4.9% in Q1 2024, primarily due to expansion in the natural gas sub-sector. Separately, the Ministry of Investment, Trade, and Industry reported Malaysia’s highest-ever Q1 trade figures this year, with total trade increasing by 7.1% year-on-year to RM690.59 billion, resulting in a trade surplus of RM34.22 billion. Exports rose by 2.2% to RM362.41 billion, driven by higher shipments of manufactured and mining goods including iron and steel products, machinery, crude petroleum, and liquefied natural gas. Imports surged by 13.1% to RM328.19 billion, mainly due to increased imports of capital and intermediate goods for manufacturing.

News

Intel Announces New Business Leadership for APJ, India

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KUALA LUMPUR: Intel Corporation has appointed new sales, marketing, and communications group (SMG) leaders for the Asia Pacific and Japan (APJ) region and the India region as part of its ongoing transformation efforts. Effective immediately, Hans Chuang was appointed general manager of SMG APJ. Based out of Taiwan, Hans will be responsible for Intel’s overall business in the APJ region, including driving revenue growth, engaging with the local ecosystem to create new opportunities, and strengthening existing customer and partner relationships. Hans holds a B.S. in Electrical Engineering from the University of British Columbia and an MBA from McGill University. “Intel is transforming, and I am excited to lead the company’s growth and innovation in APJ, one of Intel’s most diverse and fastest-growing regions. “Leveraging the strength of our partners and continuing our commitment to building an open ecosystem that serves our customers in a transparent and secure manner is going to be key to our long-term success here in the APJ region,” said Hans. In March this year, Intel announced India as a separate region within its SMG organisation, to capitalise on the country’s rapid growth and business opportunities. Santhosh Viswanathan, VP and MD-India region will lead the newly formed region, leveraging his expertise to drive value and customer centricity. “We see massive business opportunities and growing momentum in India. Creating a separate region enables our teams, including our strong engineering base in India, to work closely with our customers. It is a very exciting time for Intel in India, and I am thrilled to lead our business in the country,” said Santhosh. Santhosh holds an engineering degree in Industrial Engineering and Management and a master’s degree in business administration. Both Hans and Santhosh have extensive leadership experience within Intel and are known for their dedication to delivering outcomes for Intel customers. Intel’s appointment of Hans Chuang and Santhosh Viswanathan as leaders of the company’s SMG organisations in APJ and India reflects its strategic focus on aligning organisational structures with evolving market dynamics. By leveraging its internal leadership talent, Intel aims to enhance its responsiveness and effectiveness in addressing each region’s unique opportunities and challenges, positioning itself for sustained success in these growth markets.

News

EPF Might Introduce ‘Account 3’ for Withdrawals, to be Announced on 25 April

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KUALA LUMPUR: The Employees Provident Fund (EPF) is planning to introduce a new account that would allow members to withdraw from RM50 to a maximum of 10% of their savings. Should the new account, Account 3 or ‘flexible account’ be realised, new contributions into the members’ EPF will be split where 75% will go to Account 1, 15% to Account 2 and 10% to Account 3. Currently, EPF contributions are split into 70% and 30% to Account 1 and Account 2 respectively. Dividend concerns However, talks of Account 3 have started to make experts anxious when it comes to dividend rates. While it is unlikely for the dividend rate to be severely impacted because of this, the overall net dividend returns might be affected. This is considering the new account making up 10% of a member’s total contribution. According to experts, expectations of potentially lowering dividend aligns with former finance minister Tengku Datuk Seri Zafrul Abdul Aziz, saying that the EPF dividend rate in 2021 should have been higher at 6.7%, compared to the finalised 6.1% at the time. He said this dividend would not have been impacted if there was no outflow of savings by its members, highlighting the fact that an additional dividend of RM5.4 billion could be distributed to all its members if previous withdrawals were not made. It was reported that in February 2023, a total of RM145 billion was withdrawn from the EPF by 8.1 million members. ‘A good strategy by EPF’ According to Tradeview Capital Chief Executive Officer and Founder Nd Zhu Hann, the concern is not serious and is overshadowed by the benefit that may arise. “When there was a series of withdrawals allowed by the government in 2021-2022, the outflow from EPF led to more than RM100 billion worth of withdrawals,” he said, highlighting that Account 3 only allows for 10% of the total savings to be withdrawn. “I foresee that EPF will be even better at managing the fund allocation via the strategic asset allocation means to meet flexible withdrawal demands in the long term. “It will also be helpful for them to plan or forecast when it comes to projecting returns and dividend payouts,” he added. Ng also suggested that it would be beneficial for the members if EPF could provide the option to move monies from Account 3 to either Account 1 or Account 2, allowing the members to save more if they prefer.

News

Whoscall Flags Over 1.6Mil Scam Calls in Malaysia for 2023, Second Top Country In Asian

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KUALA LUMPUR: The number of scam calls received by Malaysian Whoscall users increased by 100.92 per cent, totalling 1,632,290 in 2023 compared to 812,428 in the previous year, Whoscall’s 2023 annual report noted. Whoscall is the industry-leading digital anti-fraud app under the TrustTech service provider Gogolook. Gogolook Malaysia country marketing lead Man Yong said the report also shows that out of the 7 Asian countries, Malaysia is the second-top country seeing an increase in scam calls after Hong Kong, followed by Japan, which takes the third spot. Other Asian countries, such as Taiwan, Thailand, Korea, and the Philippines, are seeing a decrease in scam calls. She said that despite the increased risk of scam calls in Malaysia, Whoscall managed to help its users by identifying and adding the ‘scam’ tagging to 1,632,290 calls in 2023 alone. “However, 10.35 per cent, equivalent to 168,946 users, still chose to pick up the tagged scam calls. “This is a concern, and we would like to remind our users not to entertain any calls tagged as ‘scam’ and to take action to block the number immediately. “Taking these early preventive steps can save you from becoming a victim of scams,” she said in a statement. The Malaysia Royal Malaysia Police (PDRM) is a long-term strategic partner of Whoscall in Malaysia and works closely in database sharing to combat fraud cases amongst Malaysians. Commenting on the latest trends of online scams in Malaysia, PDRM Anti-Scam Ambassador ASP Rahmat Fitri Abdullah said phone scam is the leading online scam cases, with over 2,092 cases with loss amounting to RM65.8 million in just the first two months of 2024 (January – February 2024). “Another popular tactic is link or URL scams shared through messaging apps. We urge Malaysians to be alert and think twice before clicking on any links,” he said. Rahmat Fitri said that generative artificial intelligence (AI) is now used to create fake content, making it hard to differentiate the authenticity of information shared. He said Malaysia is now seeing emerging trends in AI-based scams involving manipulating news. “Scammers take real news footage and alter the audio clip to achieve a certain goal, such as producing positive news about an investment opportunity to win the victims’ trust. This trick has seen more and more Malaysians fall for it,” Rahmat Fitri said. As scam tactics evolve, Whoscall’s anti-fraud detection scope has expanded from calls and text messages to URL Scanner and ID security features. By integrating its AI-powered anti-fraud technology, Whoscall has established a leading global advantage in detecting risky links and checking unknown links from various sources under its URL Scanner feature. Recently, Whoscall’s new free feature, ID Security, is transforming user protection by swiftly detecting past leaks with just a phone number. Users gain instant insights into compromised accounts, passwords, and personal details, all at a glance. Plus, it offers vital remedial suggestions for added security. Whoscall is actively expanding its feature offerings to become an essential anti-fraud app that protects its users against constantly evolving scam tactics.

Awantec
Energy & Technology, News

Awantec Faces Share Suspension Amid Regulatory Compliance Challenges

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KUALA LUMPUR: AwanBiru Technology Bhd (Awantec) has announced that trading in its shares will be suspended starting April 26, following its failure to submit a regularisation plan to regulators within the required timeframe. In a disclosure to Bursa Malaysia Securities on Thursday, the software service provider revealed that it was obligated to submit the regularisation plan by April 13 but missed the extended deadline. Awantec now faces the risk of delisting if it fails to submit an appeal within five market days from the notification of potential delisting. The company, formerly known as Prestariang Bhd, was categorized as an affected listed issuer in January 2021 after its wholly owned subsidiary, Prestariang Systems Sdn Bhd, lost its membership in the Microsoft Partner Network. Seeking reprieve, Awantec applied for a waiver from the regularisation plan requirement on April 8, citing recent financial improvements. Additionally, the group requested a reclassification of its affected issuer status and a six-month extension until October 13 for plan submission in case the waiver and reclassification applications are not approved. Financially, Awantec showed improvement, reporting a net profit of RM1.19 million for the six-month period ending December 31, 2023, compared to a net loss of RM4.31 million in the prior year. Revenue also grew by 9.7% to RM28.63 million from RM26.1 million. Awantec recently made headlines by winning a lawsuit against the government, receiving RM231.55 million in compensation following the termination of the RM3.5 billion National Immigration Control System (SKIN) project in March. An appeal was lodged in early April. The SKIN project was awarded to Awantec’s wholly owned subsidiary, Prestariang Skin Sdn Bhd (PSKIN), in August 2017 under the leadership of former Prime Minister Datuk Seri Najib Razak. However, the project was scrapped by the Pakatan Harapan government in December 2018, leading to legal action by PSKIN against the government due to the failure to agree on compensation terms. Despite these developments, shares in Awantec closed unchanged at 32 sen on Thursday, with a market capitalisation of RM252.77 million. Investors and stakeholders await further updates from Awantec regarding its regulatory status and plans for compliance.

News

Special Zones to Boost Johor’s Economic Growth, Says PM

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JOHOR BAHRU: Prime Minister Anwar Ibrahim believes that special economic zones like the Johor-Singapore special economic zone (JS-SEZ) and the special financial zone (SFZ) in Forest City can propel Johor’s economic growth ahead of other states within the next one to two years. During the Johor state-level Aidilfitri celebration at Padang Begonia, Angsana Johor Bahru Mall, Anwar Ibrahim expressed optimism about the impact of these high-impact projects on Johor’s economy. He mentioned that while the details of these zones are still being finalized, they are expected to accelerate economic progress significantly. Anwar was joined by several key figures including Defence Minister Khaled Nordin, Minister of Investment, Trade, and Industry Tengku Zafrul Aziz, Johor Menteri Besar Onn Hafiz Ghazi, Deputy Works Minister Ahmad Maslan, and former Deputy Prime Minister Musa Hitam at the event. In his address, Anwar highlighted Johor’s impressive development and growth, noting that the state has made significant strides. He also emphasized the importance of addressing challenges such as flood mitigation and poverty alleviation, with a commitment to swiftly implementing flood mitigation projects to benefit the local population. Anwar emphasized the need for Johor’s leaders to ensure clean governance, free from corruption, and to prioritize the interests of the people.

News, Property

Merdeka 118 Tower Gets LEED Platinum Certification

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KUALA LUMPUR: PNB Merdeka Ventures Sdn Bhd’s (PNBMV) Merdeka 118 tower project has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core and Shell rating system. In a statement today, PNBMV – a wholly-owned subsidiary of Permodalan Nasional Bhd – said the LEED certification recognises a project’s compliance with the criteria outlined in the LEED rating system, established and upheld by the US Green Building Council (USGBC). Chief Executive Officer Datuk Ab Aziz Tengku Mahmud said the LEED Platinum certification represents the first milestone in Merdeka 118’s journey towards becoming Malaysia’s first triple-green platinum-rated mega-tall building. “Once Merdeka 118 tower receives all its platinum certifications, it will set the highest sustainability standards both locally and internationally, reinforcing its iconic status,” he said. He highlighted that the USGBC assess the project in various areas, including site sustainability, water efficiency, energy and atmosphere, materials and resources, indoor environmental quality and innovation in design. “Credits were also given to water-efficient landscaping, water use reduction, optimised energy performance and enhanced commissioning. “This recognition is proof of the team’s dedication and hard work while implementing best practises in design and construction,” he added. PNBMV said Merdeka 118 is aiming for Platinum certification from Green Real Estate (GreenRE) and Green Building Index (GBI). It is also poised to obtain certification from the International WELL Building Institute Asia Pacific, supporting the well-being of both tenants and the wider community. — BERNAMA

News

RHB Bank Has Doubled Its Green Loans Target to RM50 billion

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PETALING JAYA: RHB Bank Bhd has raised its green loans goal to RM50 billion (US$10.5 billion) by 2026, more than doubling its initial target, following surpassing its previous target last year. According to a statement by RHB Bank, the bank had achieved RM23.8 billion in green financing by the end of 2023, exceeding its original target of RM20 billion by 2026 under its sustainability strategy introduced in 2022. Malaysia’s major banks have been increasing their green loan objectives since the previous year. Malayan Banking Bhd, the country’s largest lender, reported last year that it had achieved half of its RM80 billion green loan target for 2025. In the meantime, CIMB Bank Bhd, the second largest lender, had committed to disbursing RM100 billion in green loans by the end of this year.  

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