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The seismic shifts triggered by the global pandemic have propelled leadership into uncharted territory, particularly in Southeast Asia. As the region undergoes a rapid digital transformation, technology and sustainability are colliding to reshape old views of leadership, creating a landscape where integrating technological prowess with a human-centric ethos is not something to consider but something that needs to be done. Let us take a closer look at the trends now defining leadership dynamics and their nuances to understand the implications in the long term. Embracing Digital Transformation for Operational Excellence In the wake of the pandemic, organisations in Malaysia are now redefining leadership paradigms, placing a premium on leaders who are adept at navigating the intricate interplay between digital technology and human-centric strategies. The emphasis is not merely on adopting technology but on strategically leveraging it. Digital tools, ranging from communication platforms like Microsoft Teams to innovative artificial intelligence (AI) applications, like Otter.ai and ChatGPT are becoming integral to internal processes and product delivery. The Malaysian landscape, characterised by its unique blend of cultures, demands a nuanced approach. Here at The University of Manchester, our collaboration with local partners like the Perdana Leadership Foundation underscores the importance of tailoring strategies to align with the distinct demands of Malaysia. The maturity of the market, variations in the prioritisation of environmental, social, and governance (ESG) strategies, and the delicate dance between tradition and innovation all contribute to the multifaceted nature of leadership in the Malaysian digital age. Fostering a Culture of Innovation Leaders in the region are now charged with fostering cultures of innovation where risk-taking is not just tolerated but actively encouraged. A compelling case study from an Indonesian bank exemplifies a groundbreaking approach – setting targets for the number of failed innovations for their newly formed innovation division. This unique strategy underscores the importance of embracing failure as an inherent part of the innovation journey, promoting a mindset shift crucial for navigating the evolving digital landscape. In the Malaysian context, innovation takes on a broader scope. The focus extends beyond technological innovation to encompass the integration of traditional values seamlessly. This is why our programmes at The University of Manchester explore how AI technology can enhance, rather than replace, traditional practices. The goal is to provide people with more time for higher-value work, aligning with their cultural values and fostering innovation. Multi-specialist Leadership in a Dynamic Work Environment The era of leaders specialising in one domain is fading in Malaysia. The post-pandemic career trajectory involves navigating through multiple roles across diverse areas. This demands leaders to be multi-specialists, not only in digital technologies but also in finance, stakeholder management, strategy, and beyond. The call for continuous upskilling echoes the need for leaders to stay agile in a landscape where change is constant. In Malaysia’s cultural diversity, recognising the significance of the country’s cultural heritage becomes a cornerstone of leadership. Our emphasis on social and community engagement goes beyond business, working with a diverse range of stakeholder groups to understand their perspectives, values, and needs. Balancing tradition with innovation is a challenge we acknowledge, striving to merge technology with traditional wisdom through education programs that align with Malaysia’s cultural heritage. Adapting Leadership to Hybrid Work Environments Remote work has become the norm in Malaysia, necessitating a recalibration of leadership styles. The traditional office environment, conducive to organic learning and team dynamics, is being replaced by intentional touchpoints, personal development plans, and deliberate planned team interactions. This hybrid leadership approach ensures leaders can understand team dynamics and individual motivations in an era where physical proximity is no longer guaranteed. The challenge lies in understanding the nuances of leading in a hybrid environment in Malaysia. The shift towards flexible working arrangements demands a reassessment of well-being strategies. Leaders are leveraging technology not only for skill development but also to address stress management and mental health support. Recognising the impact of constant connectivity, organisations are implementing clear well-being strategies to ensure employees have the time and support needed to thrive without burnout. A Global Mindset for Global Success In an interconnected world, leaders in Malaysia must possess a global mindset. While technology facilitates global reach, success in one market doesn’t guarantee success in another. Understanding and adapting to the diversity in markets, cultures, and norms is paramount. The ability to navigate this complexity defines leaders who can steer their organisations toward success in an increasingly globalised business landscape. Our collaboration with the Perdana Leadership Foundation is a testament to this approach. By working with an organisation deeply rooted in Malaysia’s leadership legacy, we not only gain insights into the country’s development journey but also create a joint product that fuses innovation with leadership cultures. This synergy exemplifies our commitment to navigating the delicate balance between digital technology, sustainability, Malaysia’s rich leadership heritage, and her growth potential. The post-pandemic era has accelerated the evolution of leadership skills in Malaysia, demanding a delicate balance between technological prowess and humanistic approaches. Malaysian organisations are witnessing a paradigm shift in leadership—one that embraces digital transformation, encourages innovation, and understands the nuances of diverse global markets. As leaders chart their course in this dynamic landscape, the ability to integrate digital technology with sustainability and human-centric values emerges as the cornerstone of success. In steering organisations through unprecedented change, these leaders are not just adapting to the new normal; they are defining it. Alliance Manchester Business School executive director of client relations Stuart Wells.

KUALA LUMPUR: Property player UEM Sunrise Bhd has appointed Datuk Sri Azmar Talib as independent non-executive director to its board. Azmar brings 40 years of experience in real estate, construction, banking, and project turnaround. His academic background includes a Bachelor of Science (Honours) in Estate Management from Universiti Teknologi MARA (UiTM) and Financial Risk Management from Harvard Business School. Additionally, he is a member of the Royal Institution of Surveyors Malaysia. He has held various leadership roles, including serving as the group chief executive officer of 7 companies within the Permodalan Nasional Bhd (PNB) group, throughout his 18 years with PNB. His accomplishments include leading the acquisition of public listed companies, turnaround and restructuring initiatives and developing multiple townships, with 9 major townships mostly in the Klang Valley area. Currently, he serves as the group chief executive officer of TRX City Sdn Bhd, overseeing the development of Tun Razak Exchange (TRX) and Bandar Malaysia. In a filing to Bursa Malaysia, UEM Sunrise said Azmar’s involvement in major projects, such as the new facilities for the Air Force, Army, and Police Air Wing under Bandar Malaysia, demonstrates his strategic vision and ability to drive successful outcomes. In addition to his professional roles, Azmar is actively involved in various industry organisations, including a member of Majlis Tindakan Ekonomi Negeri Melaka (MTENM), Tabung Haji Investment Panel and Majlis Agama Islam Melaka (MAIM). He is also the director of Lembaga Tabung Amanah Melaka (LTAM) and Straits of Melaka Waterfront Economic Zone (SM-WEZ). He also contributes to academia as a member of the industry advisory panel for real estate at the Faculty of Built Environment, Universiti Malaya. UEM Sunrise chairman Datuk Hisham Hamdan said the company looks forward to the invaluable insights and leadership that Azmar will bring to the board, further strengthening the company’s commitment to innovation in property development and the real estate industry.

KUALA LUMPUR: Maxim E-hailing Malaysia said e-hailing is one of the industries with a risk of various fraud schemes being employed by some drivers. Maxim Malaysia director Mohd Hazwan discussed some common fraud schemes drivers may employ within the e-hailing industry and how these schemes manifest. “One is that the driver pushes the button to complete the order but does not pick up the customer. “This increases the number of trips, and the driver can claim their monthly allowance with Maxim. “To note, Maxim provides monthly allowances to the driver who manages to get (some number) of orders. “Two, the driver instructs the passenger to cancel the order and get free commissions,” he told The Exchange Asia. When asked, Mohd Hazwan said Maxim monitors orders daily, categorising them into two sections – complete orders and cancelled orders. “In the case of cancelled orders, a thorough investigation will be conducted to understand the reasons behind the cancellation. “This involves reviewing order messages and listening to the communication between the driver and passenger. All relevant data is meticulously recorded,” he said. In a statement, Maxim said the e-hailing industry is phenomenally diverse, offering various services such as transportation, delivery, trucks, and more. These services, especially transportation, have become necessary for everyone and are open to scams by unscrupulous individuals. With this in mind, Maxim would like to share some tips to help users avoid getting caught in such scams. The first step is to check the booking thoroughly. After booking, Maxim recommends that the passengers double-check important aspects such as the address, driver information, vehicle information, and the displayed price. Step two is to identify the vehicle’s location. When users book a vehicle, the company shares its track on a map in the application. With this, the user can see the vehicle’s location and whether it is on the correct route. Step three is to take advantage of the application’s chat feature. Users can communicate directly with their drivers through calls and messages in the application and avoid using personal messengers such as WhatsApp. Step four, while travelling with the driver, sharing too much information, especially personal information such as where you work, your phone number, home address, or relationship status, is not recommended. The last step is to identify the price of the ride. The price of the ride will appear when making a booking, and the passenger is recommended to check that the amount paid is the same as the one displayed in the application. Elaborating further, Mohd Hazwan said Maxim passengers will observe a red SOS button at the top of the application. “If there are any issues, they can activate it. This action triggers notifications to two parties – the emergency contact registered during sign-up and the nearest available driver. “Maxim is very particular and concerned about the users’ bookings. Therefore, our application has a feedback function for users who want to share their experiences. “In case of any problems, our customer service will contact them directly. I believe this can help users solve problems,” MY user support specialist Dayana Qistina said. Maxim also monitors these cases and offers money refunds if an accident happens to a user. “Throughout my experience of using e-hailing services, I have never encountered a driver who would try to scam me. “This is because I pay attention to the booking information shared by Maxim, and I will continue to contact the driver in the chat,” comments Shawzwana, a Maxim E-hailing user.

KUALA LUMPUR: Khazanah Nasional Bhd has appointed Datuk Hisham Hamdan as its new chief investment officer (CIO), effective March 6, 2024. Hisham’s appointment allows for greater focus on building Khazanah’s capabilities as an investment institution and creating new capacity and competencies, especially to meet the company’s value creation and impact goals. Khazanah managing director Datuk Amirul Feisal Wan Zahir said the agency is confident that Hisham’s vast experience and knowledge will be an asset to Khazanah’s ongoing efforts to gear up the organisation to build the required capacity and institutionalise talent development, which is part of the overall strategy for developing a winning team. “This, along with our long-term strategy of Advancing Malaysia, would further allow us to strengthen our position in facing the challenging global market condition,” he said in a statement. Hisham joined Khazanah in April 2011 from Sime Darby Bhd. He has held senior positions, including executive director of public markets and other senior roles in strategy and business development, healthcare, energy and utilities, and China. Hisham also serves as the chairman of UEM Sunrise Bhd and the board of trustees of the Khazanah Research Institute. Previously, he was chairman of UDA Holdings Bhd, a member of the board of directors of Iskandar Investments Bhd, and a member of the board of ValueCap. He holds two Chemical Engineering and Industrial Management degrees from Purdue University, United States. He has also attended the Harvard Business School’s Advanced Management Programme.

KUCHING: Sarawak will benefit from the robust growth in the global sustainable aviation fuel (SAF) market, projected to grow to US$16.8 billion by 2030 from US$1.1 billion in 2023. Universiti Malaysia Sarawak (UNIMAS) Honorary Professor Dr Madeline Berma said the SAF Industry is experiencing rapid economic growth. “The International Civil Aviation Organisation has mandated that all aviation companies must use environmentally-friendly fuel by 2027. “Regular fuel cannot be used anymore, as it emits carbon, which pollutes the air. “Sarawak will benefit from the ‘first mover advantage’ by being one of the first states in Malaysia to promote the green economy actively as a basis for its development,” she told The Exchange Asia. SAF can reduce carbon emissions by 80 per cent. By mid-June in 2022, SAF powered some 450,000 flights. Popular low-cost carrier AirAsia, for example, is currently exploring options to introduce SAF into its fuel mix before 2025. However, last year, the usage of SAF reached only 600 million litres or 0.5MT. This is double the amount produced in 2022 but the quantity still amounts to only 0.2 per cent of all aviation fuel produced globally. A limited production volume means SAF will be much more expensive than conventional jet fuel as there will be fewer takers for this environmentally-friendly alternative due to cost factors. But these are good reasons to draw cheer for the Borneo state of Sarawak. The state is gearing up to produce 100,000 barrels of SAF daily by 2030. Deputy State Secretary Datuk Dr Muhammad Abdullah Zaidel declared Sarawak’s plan to venture into producing SAF in September last year. The announcement is also timely as Sarawak’s proposed state-owned airline is expected to be up and running by the second quarter of this year. The state’s home-made SAF will most likely power its planes. Muhammad Abdullah said that microalgae grown in waters mixed with carbon dioxide would be used to produce SAF, which is increasingly adopted by global airlines. “The use of carbon dioxide for microalgae cultivation comes when Sarawak is also exploring more business opportunities in the multi-billion-dollar carbon capture, utilisation and storage (CCUS) industry. “We have identified 10,000 acres of land in Bintulu for the purpose of algae plantation. About 1,000 acres of algae can produce 10,000 barrels of SAF a day, so with 10,000 acres, we can produce 100,000 barrels by 2030,” he was quoted as saying by the local media. Madeline said Sarawak’s first industrial microalgae production, the CHITOSE Carbon Capture Central Sarawak (C4 Sarawak), was officially launched in May 2023. “It marked a significant milestone towards achieving a sustainable green economy for Sarawak, aligned to its Green Energy Agenda. “C4 Sarawak and the research that it will conduct potentially lays the foundation for the development of a new economy within the state, and it will create significant economic value for the people while ensuring sustainability,” she said. Madeline pointed out that SAF is the future economic driver for Sarawak. Malaysian Biotechnology Information Centre executive director Dr Mahaletchumy Arujanan said SAF is no longer a buzzword but a ‘must-do’ to decarbonise the aviation industry. “It is laudable for Sarawak to be an early start-up and pioneer in venturing into this potentially new industry, which still requires more research in the area of lipid extraction from the feedstock, finding ways to reduce the cost of harvesting, and improving the drying procedures to make the end product economically viable for consumers. “Collaboration between industry and universities will help, and it will also lead to more research positions for our Ph.D. graduates. It will certainly be exciting to watch the growth of the SAF industry and appreciate the reduction of the aviation industry’s carbon footprint,” she told The Exchange Asia. Mahaletchumy is a renowned science communicator who is listed as being among the 100 most influential persons in biotechnology by Scientific-American. She is also the executive director of the Malaysian Biotechnology Information Centre based in Petaling Jaya. On another note, Mahaletchumy suggested that SAF can also be extracted from other kinds of feedstock, such as biomass, and this possibility must be explored. “Sarawak has a huge and readily available stock of biomass from its pepper and oil palm plantations, and this fodder could promote the sustainable use of agriculture waste that would otherwise end up in landfills and thus contribute to the rise of greenhouse gases. “Our planet is endangered and in a crisis. The time is now for us to grab the opportunity to reach for far horizons and to focus on this immediate exigency to heal the world,” she added.

KUALA LUMPUR: Public-listed companies’ (PLCs) financial gains and shareholder returns will be significantly impacted if the public persists in boycotting their products and services over geopolitical concerns. Former Minority Shareholders Watch Group chief executive officer Devanesan Evason said such knee-jerk reactions by boycotting products do not give PLCs confidence in securing new ventures, franchises, or contracts. “Reduced dividends will result in lower shareholders’ profits and share prices. Conversely, losses without dividends could result in even lower share prices. “The company should have conducted a media blitz to clearly communicate to all consumers that it is a Malaysian-owned company with no foreign shareholdings and that Malaysians will suffer due to the boycott. “This should have been communicated clearly and unequivocally and not said in passing,” Devanesan told The Exchange Asia. He was responding to a news article on Berjaya Corporation Bhd founder and advisor Tan Sri Vincent Tan Chee Yioun urging Malaysians to end the Starbucks Malaysia boycott. Tan clarified in the article that Berjaya Food Bhd (BFood) locally owns the franchise and has an all-Malaysian workforce in both the head office and stores. “As pointed out, the bulk of the employees are Malaysians, with about 80-85 per cent being Muslims. “All these Malaysian workers will be impacted if there are store closures due to the boycott. Furthermore, it is a Malaysian-owned company that pays government taxes. “There will be tax revenue loss. We are barking up the wrong tree, and the boycott will not have the desired outcome,” Devanesan said. Apart from Starbucks, locals are also boycotting non-listed fast food chains McDonald’s and Burger King after a Reuters report on October 17 reported that their Israeli restaurants gave free meals to Israel Defense Forces (IDF) personnel. Following that, Gerbang Alaf Restaurants Sdn Bhd, the franchise owner of McDonald’s in Malaysia, released statements clarifying its separation from the Israeli franchise. The company emphasised that the Malaysian entity is entirely Muslim-owned and disclosed its donation of RM1 million to the Palestine Humanitarian Fund under the Prime Minister’s Department. Devanesan said the media and the customer relations department could help persuade the public and consumers about the situation. “Investor relations will also need to help assuage investors. They need to tell a good story, the right story, a convincing story,” he said. Devanesan also said that governments must strike the right balance between politics and business. He said relevant government agencies must be acutely aware of the unintended consequences of all government decisions and posturings. “If a minister had clarified the Starbucks issue earlier, much hardship could have been avoided,” he said. Further, Devanesan said multinationals must adopt an apolitical stance in running their business and need to send the message that they are doing business and distance themselves from being seen supporting unacceptable counterparties to the geopolitical tensions. “Here, perception management is important. They must convincingly convey the message that Malaysians will suffer more because of the boycott and explain how and why,” he said. The Malaysian International Chamber Of Commerce & Industry president Christina Tee said while acknowledging the challenges faced by some individuals impacted by recent boycott events, various industries are demonstrating a strong commitment to their workforce. “Companies are actively seeking to re-hire these skilled and experienced workers, offering them opportunities and the necessary training for a smooth transition back into the workforce. “This proactive approach signifies a collaborative effort with businesses and organisations to help individuals find new possibilities and succeed in their careers. “This focus on re-training and redeployment signifies a positive shift within industries,” Christina told The Exchange Asia. She said by investing in their workforce and offering opportunities for growth, companies are creating a more resilient and adaptable talent pool. This collaborative approach ensures that skilled individuals can find new opportunities despite the current situation, ultimately benefiting both the workers and the industry as a whole, she said.

KUALA LUMPUR: Today, CIMB Islamic Bank Bhd and Petroliam Nasional Bhd (Petronas) signed an inaugural Tahawwut Master Agreement (TMA) for shariah-compliant commodity derivatives. The signing of the TMA marks Petronas’ venture towards shariah-compliant derivatives, making the national oil company the first corporation in Malaysia to utilise CIMB Islamic’s shariah-compliant commodity hedging instruments for Islamic energy commodity derivative trades. CIMB Islamic chief executive officer Ahmad Shahriman Mohd Shariff said the bank is proud to partner with Petronas for this landmark shariah-compliant commodity derivatives arrangement, contributing towards the development of Malaysia’s International Islamic Financial Centre (MIFC), in line with Bank Negara Malaysia’s Financial Sector Blueprint. The TMA is a multiproduct framework agreement drafted by International Swaps Derivatives Association (ISDA) in collaboration with International Islamic Financial Market (IIFM) Association to govern shariah-compliant derivative transactions. The TMA provides the market with globally accepted and standardised terms for Islamic hedging products, which will spur the growth of Islamic hedging products in the international market. The agreement signing was formalised by Ahmad Shahriman and CIMB Group co-chief executive officer, group wholesale banking and group treasurer Chu Kok Wei, while Petronas was represented by vice president, treasury Freida Amat and head of group commodities exposure management, treasury Nik Mohsain Harjuda Nik Ahmad. Chu said the bank is pleased to support Petronas, an entity symbolic to Malaysia as the national oil and gas company, in meeting their ongoing business requirements. “The partnership with Petronas under the TMA is timely, given the robust growth and increasing demand for shariah-compliant instruments in the market today. “The TMA will certainly pave the way for Petronas to manage its future hedging transactions, and we continue to be on the lookout to foster more synergetic collaborations with other corporate clients in the future to continue to invigorate this attractive segment,” he said. Freida said the TMA undertaking demonstrates Petronas’ support in advancing the development of shariah-compliant derivatives domestically and globally. “Using derivatives under the TMA will enable Petronas to manage our exposures in a shariah-compliant manner. “We remain supportive of the growth of the Islamic finance industry, and we believe that this partnership can advocate for more Islamic financial solutions in the future,” she said. CIMB Group has been playing an active role in driving the growth of Islamic and sustainable finance. The adoption of a globally acceptable master agreement bodes well with the development of Malaysia as an international marketplace for Islamic finance and is in line with the bank’s Forward23+ strategic plan. Over the past three years, CIMB Group has executed several significant sustainable financing transactions, including its landmark sustainability-linked derivative (SLD) in October 2021, the world’s first ringgit-denominated SLD transaction. In 2023, the CIMB Group tripled its sustainable finance target to RM100 billion by 2024 after meeting its initial target of RM30 billion two years ahead of schedule. Petronas also invests in Islamic-related products and has issued sukuk and Islamic financing facilities.

KUALA LUMPUR: American multinational hospitality company Hilton Worldwide Holdings Inc has appointed Maria Ariizumi as vice president, development, South East Asia. Maria joins Hilton from Swire Hotels where she led efforts to set up Swire’s third party hotel development platform, with her responsibilities spanning hotel development, planning and projects across Asia Pacific, Europe and North America. During her tenure, Swire Hotels saw a doubling of the group’s hotel portfolio. She joined Hilton on March 4, 2024, based out of the Hilton corporate office in Singapore. “South East Asia holds great potential for the travel and tourism sector, and we are incredibly upbeat about the healthy momentum in travel demand and hotel development. “I am thrilled to welcome Maria to the Hilton family at this critical inflexion point and am confident that she will lead the team to new heights as we write our next growth chapter together,” Hilton senior vice president, development, Asia Pacific Clarence Tan said in a statement. Maria’s hospitality career also spans stints with Galaxy Entertainment Group, Marriott International and Deloitte Tohmatsu Consulting in hotel development, feasibility and corporate finance roles. A native of Japan, Maria will partner closely with Hilton’s existing owners and new partners to drive the company’s development strategy in Southeast Asia. This newly created role testifies to the growing importance of this dynamic region, and Maria’s time-tested track record will support Hilton’s ambition to double its portfolio here in the next three years. “It is an amazing opportunity to steer the expansion of an iconic brand like Hilton in the vibrant South East Asia region. “Hilton has established a stellar foundation here and is well respected by owners and industry watchers for its market-leading performance. “With the support of a best-in-class team, I look forward to leading and delivering on our growth ambitions in this market,” said Maria. Hilton has 57 trading properties across seven distinct brands and a pipeline of 44 properties. In recent months, Hilton celebrated highly anticipated hotel openings, such as Umana Bali, LXR Hotels & Resorts, La Festa Phu Quoc, and Hilton Saigon, each representing in-market brand debuts.

KUALA LUMPUR: Malaysia Convention & Exhibition Bureau (MyCEB) has forged a strategic partnership with an international travel agent, ACMAR Marketing Xiamen, a subsidiary of the ACMAR Group. This collaboration was formalised by signing a memorandum of cooperation (MoC) between MyCEB chief executive officer Azman Tambi Chik and ACMAR Group managing director, JP, Datuk Steven Tee. “The collaboration bolsters Malaysia and MyCEB’s presence in the promising Chinese market, specifically catering to the Xiamen business community. “The MoC signed not only signifies national pride between two Malaysian entities but also a significant step towards fostering bilateral cooperation and enhancing business events opportunities in the region,” Azman said in a statement. ACMAR Group is renowned for its projects such as hotels, the Xiamen International Culture Building and more. The group also owns investment stakes in fixed assets such as commercial, residential, and other properties. With its strong foothold in Xiamen, ACMAR Group brings invaluable expertise and resources to synergise with MyCEB’s vision of promoting Malaysia as a premier and preferred destination for business events. The MoC outlines a series of joint marketing activities aimed at capturing the attention of the Chinese market, sharing market intelligence, facilitating knowledge exchange, co-developing business leads and fostering collaboration opportunities for the private sector. ACMAR Marketing Xiamen will connect MyCEB with China’s business events counterparts, streamlining communication and fostering mutually beneficial partnerships. “The MoC leverages the extensive network and insights of both organisations, with MyCEB being able to showcase Malaysia’s world-class facilities, unique culture and unparalleled hospitality. “ACMAR is excited to be part of this venture by supporting the bureau through our footprint and aiming to drive mutual growth and prosperity between Malaysia and China,” said Steven Tee. Both parties are committed to implementing innovative marketing strategies and fostering long-term partnerships to achieve their shared objectives. The collaborative efforts are expected to boost tourism and investment and strengthen cultural exchange and bilateral relations between Malaysia and China. Besides the MoC, MyCEB discussed with the Xiamen International Conference & Exhibition Centre, Chairman of Xiamen Welleast Smart City Technology Co Ltd, C&D Global Tourism Group Co Ltd and President of Xiamen Tourism Association. From these meetings, Malaysia can look forward to fostering stronger collaborations, expanding market reach, and enhancing bilateral relationships, thereby elevating business events, tourism and private sector opportunities between Malaysia and Xiamen.