Malaysia

News, Property

Penang unveils plan for Integrated Circuit Design and Digital Park

GEORGE TOWN: The Penang state government has unveiled its plan to establish an Integrated Circuit (IC) Design and Digital Park, which offers a total of 1.0 million square feet (sq ft) of premium office space to attract and house high-impact projects. Penang Chief Minister Chow Kon Yeow said these developments will further solidify Penang’s position as the preferred investment destination for businesses and entrepreneurs in these sectors. He said the development of the park consists of two phases, involving 42.5 hectares in the Bayan Lepas Industrial Park. “The first phase which began in January last year involves the construction of two office buildings, namely the Global Business Services (GBS) By The Sea and the GBS TechSpace, with a total cost of RM347 million. “(The first phase) is set to be completed by the fourth quarter of this year, providing approximately 350,000 sq ft of premium office space, equipped with high-spec building features, cutting-edge engineering lab facilities and parking accommodations,” he said during a press conference here, today. Chow said the second phase involves the construction of GBS@Technoplex, which will cost approximately RM308 million, scheduled for completion by 2027.He highlighted that in the past, the state has established its own GBS buildings which are the first of their kind in Malaysia, namely GBS@Mayang and GBS@Mahsuri, signifying the state’s commitment towards a robust ecosystem for digital innovation. Chow said the second phase involves the construction of GBS@Technoplex, which will cost approximately RM308 million, scheduled for completion by 2027. He highlighted that in the past, the state has established its own GBS buildings which are the first of their kind in Malaysia, namely GBS@Mayang and GBS@Mahsuri, signifying the state’s commitment towards a robust ecosystem for digital innovation. He noted that Penang currently hosts 200 Malaysia Digital-status companies, predominantly from foreign direct investments, showcasing the state’s attractiveness in this sector. “To further promote IC design, the state is introducing subsidised rental rates for office spaces. “Additionally, we are in the process of applying to the Federal Government for incentives and grants to enhance the ecosystem. These initiatives will be incorporated into the forthcoming incentive package,” he said. Chow also said that the state is committed to providing exceptional infrastructure, conducive facilities, and attractive amenities to strengthen Penang’s pioneer position in the IC design and digital industries. Over the past 30 years, Penang has been home to over 20 global IC Design companies, including Intel, Motorola, AMD, Microchip, UST Global, Siemens, Zebra, Lattice, and Synopsys, as well as several homegrown IC design corporations such as SkyeChip, Oppstar Technology and Infinecs Systems. — BERNAMA

News, Uncategorized

Sime Darby Motors Unveils Enhanced BYD ATTO 3 2024, Setting New Standards in EV Innovation at RM149,800

ARA DAMANSARA: Sime Darby Motors, the authorized distributor of BYD vehicles in Malaysia, proudly introduces the highly anticipated BYD ATTO 3 2024, showcasing the latest advancements in electric vehicle (EV) technology. This upgraded version of the acclaimed electric SUV demonstrates BYD’s unwavering dedication to innovation and quality, promising Malaysian drivers an unparalleled driving experience. Crafted upon BYD’s advanced e-platform 3.0 and the revolutionary Ultra-Safe Patented Blade Battery Technology, the BYD ATTO 3 2024 sets new standards for safety and performance. Recognized with a maximum five-star rating by Euro NCAP, Europe’s leading independent safety institute, it also boasts the distinction of being the world’s first intelligent cabin designed with a focus on sports and fitness. With its cutting-edge technology, the BYD ATTO 3 2024 instills confidence in every journey, offering both power and sustainable mobility at the fingertips of drivers. Key Enhancements for 2024 include: – Exterior Refinements: A sleek black fin at the D-pillar replaces the previous white fin, adding a touch of sophistication. Additionally, the iconic BYD logo now graces the rear, exemplifying the vehicle’s modern appeal. – Interior Upgrade: Introducing a new “Black-Dark Blue” color scheme enhances the interior aesthetics. Customers now have two interior color options—Black-Dark Blue and Dark Blue-Light Grey, depending on the selected exterior color. – Advanced Technology: The BYD ATTO 3 2024 is equipped with wireless charging capabilities and an expanded intelligent rotating touch screen, now measuring 15.6 inches, providing enhanced entertainment features and visibility. Seamless connectivity with Android Auto and Apple CarPlay ensures a convenient driving experience. – New Color: Cosmos Black joins the lineup, offering customers an additional choice to suit their preferences. With its sleek appearance, Cosmos Black enhances the overall aesthetic of the BYD ATTO 3 2024, providing consumers with more options to match their style preferences. The BYD ATTO 3 2024 has received numerous accolades worldwide, cementing its position as a leader in the EV industry. As the world’s No. 1 New Energy Vehicle (NEV) manufacturer, the model has been honored with prestigious awards such as “Electric Car of the Year” by News UK and “Best EV SUV” in Thailand’s Car of the Year 2023 awards. Jeffrey Gan, Managing Director of Southeast Asia at Sime Darby Motors, expressed his enthusiasm for introducing the enhanced BYD ATTO 3 2024 to Malaysians, emphasizing their commitment to excellence in the EV segment. Backed by a robust network of advanced showrooms and expanding dealerships nationwide, Sime Darby Motors aims to provide quality service and excellent customer care. Price and Package: The BYD ATTO 3 2024 is available in a single variant priced at RM149,800, offering optimal performance value and tailored features for customers. With the addition of Cosmos Black, the model is now available in four colors: Boulder Grey, Ski White, Surf Blue, and Cosmos Black. The Boulder Grey and Cosmos Black variants feature the new interior color of Black-Dark Blue. Comprehensive Warranty Package: – 6-year or 150,000km vehicle warranty – 8-year or 160,000km battery warranty – 8-year or 150,000km drive unit warranty Additionally, BYD offers comprehensive service packages including Service Standard and Service Plus, ensuring a seamless ownership experience and long-term cost savings for BYD EV owners. Expanded Product Range: With the debut of the BYD ATTO 3 2024, BYD presents a comprehensive product range tailored to diverse preferences and budgets. From the Compact Hatchback BYD DOLPHIN starting at RM99,900, to the Enhanced Compact SUV BYD ATTO 3 2024 priced at RM149,800, and the dynamic Sports Sedan BYD SEAL starting from RM179,800, Malaysians now have a plethora of options to choose from. Commitment to Safety and Satisfaction: Ensuring the safety and satisfaction of our customers remains our top priority. Each vehicle undergoes rigorous quality assessments to meet the highest standards. Additionally, BYD continues to invest in digital solutions, including a user-friendly mobile app, to enhance the convenience and accessibility of EV ownership. Explore the latest BYD ATTO 3 2024 by visiting your nearest BYD showroom. For more details, visit the [BYD Sime Darby Motors website](http://byd.simedarbymotors.my/) or connect with BYD Cars Malaysia on [Facebook](http://www.facebook.com/BYDCarsMalaysia) or [Instagram](http://www.instagram.com/bydcarsmalaysia/). For inquiries, reach out to our Customer Care team at 1300-38-1888.

Investment & Market Trends, News

Farm Price Holdings Berhad’s IPO Oversubscribed by 91.35 Times

KUALA LUMPUR: Farm Price Holdings Berhad (“Farm Price”), a wholesaler and distributor of fresh produce, food and beverage (“F&B”) items, and other groceries based in Johor, has attracted substantial interest from investors for its initial public offering (“IPO”). The IPO has been oversubscribed by 91.35 times ahead of its listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). Farm Price, along with its subsidiaries, primarily engages in wholesale and distribution activities, serving markets in Malaysia and Singapore. Additionally, the group operates a retail outlet in Ulu Tiram, Johor, catering directly to end-consumers. With two decades of experience in fresh produce distribution, Farm Price currently operates its Senai Centralised Distribution Centre in Johor, equipped with cold room facilities for storage, processing, and packaging, alongside ambient temperature zones. Furthermore, the group’s operations are bolstered by six regional distribution centres in Johor, Selangor, Perak, and Penang, focusing on wholesale distribution of F&B products and groceries. Farm Price serves a diverse customer base, including supermarkets, minimarkets, grocery stores, wholesalers, food service operators, food manufacturers, and individual consumers. The IPO of Farm Price comprises 450,000,000 ordinary shares, featuring a public issue of 102,000,000 new shares at an issue price of RM0.24 per share, representing 22.67% of the enlarged share capital. The public issue is expected to raise RM24.48 million. Additionally, there is an offer for the sale of 33,000,000 existing shares by way of private placement to selected investors. Farm Price received a total of 16,647 applicants for 2,077,765,600 shares, valued at approximately RM498.66 million, for the 22,500,000 shares allocated to the Malaysian public, resulting in an oversubscription rate of 91.35 times. For the Bumiputera portion, 9,895 applications for 1,030,653,700 shares were received, representing an oversubscription rate of 90.61 times. Regarding the public portion, 6,752 applicants submitted requests for 1,047,111,900 shares, resulting in an oversubscription rate of 92.08 times. The 11,250,000 shares available for application by eligible directors, employees, and contributors to the company’s success have been fully subscribed. Furthermore, the private placement of 68,250,000 shares and 33,000,000 offer shares made available for application by selected investors through private placement have also been fully placed. All successful applicants will receive notices of allotment by 10 May 2024. Dr. Tiong Lee Chian, Managing Director of Farm Price, expressed gratitude for the overwhelming response to the IPO, reflecting confidence in the company’s fundamentals and prospects. With the IPO funds, Farm Price aims to expedite expansion plans to capitalize on growth opportunities within the fresh produce industry. Dr. Tiong Lee Chian stated, “Amidst a fragmented landscape, Farm Price sets itself apart through experienced expertise, a diverse range of fresh produce, in-house infrastructure, a global sourcing network, and robust distribution channels. To strengthen our position in fresh produce distribution and drive further growth, our future plans include expanding our Senai Centralised Distribution Centre, purchasing machinery, equipment, and logistics fleet, establishing additional regional distribution centres, and setting up a sales and marketing office in Singapore.” He emphasized the significance of the fresh vegetables industry for Malaysia’s food security and highlighted increasing demand in Singapore, fueled by Farm Price’s commitment to quality and value-added services. Dr. Tiong Lee Chian concluded by expressing excitement for expanding reach and meeting the growing demand for fresh vegetables in the city-state. Farm Price is set to be listed on the ACE Market of Bursa Securities on Tuesday, 14 May 2024, with an anticipated market capitalization of approximately RM108.00 million based on an issue price of RM0.24 per share and an enlarged share capital of 450,000,000 shares. Alliance Islamic Bank Berhad serves as the Principal Adviser, Sponsor, Sole Underwriter, and Placement Agent for the IPO Exercise.

Investment & Market Trends, News

Rocket Software Acquires OpenText’s Application Modernization Business for $2.275 Bil

MALAYSIA: Rocket Software, Inc. (“Rocket Software”), a global leader in modernization software, solidifies its position as a premier partner for businesses embarking on modernization journeys with the successful acquisition of OpenText’s Application Modernization and Connectivity (AMC) business, formerly under Micro Focus. This strategic move significantly expands Rocket Software’s offerings, now providing modernization solutions from mainframe to cloud environments. The acquisition, valued at $2.275 billion, before taxes, fees, and adjustments, bolsters Rocket Software’s revenue by over 60% and broadens its customer base to more than 12,500 companies worldwide, supported by a network of over 750 partners. Furthermore, the acquisition brings on board over 770 new software engineers, go-to-market professionals, and supporting staff, with plans for additional hiring to strengthen Rocket Software’s capabilities. Milan Shetti, President and CEO of Rocket Software, expressed pride in powering and advancing global market leaders through innovation. He highlighted the acquisition as a milestone setting a new standard for modernization excellence, reinforcing Rocket Software’s commitment to strategic growth and market expansion. Shetti emphasized the company’s readiness to address modernization challenges at scale, leveraging its expertise, resources, and flexible approach to empower clients in achieving their goals. Peter Rutten, Research Vice President at IDC, recognized the acquisition’s significance in creating one of the largest mainframe modernization and connectivity software companies globally. He underscored Rocket Software’s commitment to meeting clients at various stages of their modernization journey, offering a comprehensive portfolio tailored to their needs, including hybrid strategies combining mainframe and cloud solutions. Rocket Software, bolstered by the infusion of talent and innovation from AMC, is poised to revolutionize modernization by providing leading technology for mainframe optimization, offering seamless, secure, and compliant solutions. With a comprehensive range of solutions tailored to every stage of modernization, Rocket Software meets clients at various points in their journey. Departing from traditional ‘rip and replace’ methods, the company focuses on preserving and enhancing existing investments, facilitating a smooth technological evolution. Emphasizing a partnership approach, Rocket Software prioritizes customer satisfaction, positioning itself as a trusted ally rather than a mere vendor. Rocket Software plans to integrate and enhance AMC products within its portfolio, enabling customers to remain competitive and leverage their data, applications, and infrastructure regardless of their modernization strategy. Additionally, Rocket Software will offer market-leading technologies like COBOL and Enterprise Suite, expanding mainframe modernization options and enabling seamless integration across various solutions. Testimonials from industry leaders like RBC and AG Insurance underscore the importance of application modernization in driving digital transformation and business scalability. To explore Rocket Software’s enhanced capabilities and solutions further, visit their website https://www.rocketsoftware.com/lets-modernize 

Investment & Market Trends

Ocean Fresh Berhad Signs Underwriting Agreement with KAF Investment Bank Berhad

KUALA LUMPUR: Ocean Fresh Berhad (“OFB” or “the Company”) and its subsidiary companies (collectively referred to as “the Group”) have formalized an Underwriting Agreement with KAF Investment Bank Berhad (“KAF IB”), acting as the Principal Adviser, Sponsor, Underwriter, and Placement Agent, today. This agreement paves the way for OFB’s initial public offering (“IPO”) and subsequent listing on the ACE Market of Bursa Malaysia Securities Berhad. The IPO initiative involves the issuance of 50,050,000 new ordinary shares of OFB (“Shares”) structured as follows: (i) 10,510,000 Shares earmarked for public subscription, with at least 5,255,000 Shares reserved for Bumiputera investors, including individuals, companies, cooperatives, societies, and institutions; (ii) 1,710,000 Shares designated for subscription by eligible directors, employees, and contributors to OFB’s success; and (iii) 37,830,000 Shares offered via private placement to selected investors. The Group’s core activities encompass the processing and trading of frozen seafood products and the provision of frozen seafood processing services, catering to customers in Malaysia, as well as in Turkey, China, Thailand, Vietnam, Japan, and other markets. Expressing his sentiments on the occasion, OFB’s Executive Director, Siang Hai Yong (黄喜荣), remarked, “We are excited to embark on this journey alongside KAF Investment Bank, marking a significant stride toward our listing on the ACE Market of Bursa Malaysia Securities Berhad. Our strategic focus includes expanding our exports of frozen seafood products to international markets, especially China, and venturing into the processing and trading of dried seafood products. Consequently, we anticipate the need to augment our storage capacity to meet growing demand.” He further added, “Therefore, we envisage utilizing a portion of the proceeds from this IPO for the construction of a new cold storage facility, which will upscale our capacity from 1,700 tonnes to 4,700 tonnes.” “The path to achieving listed status has been a culmination of persistent efforts for OFB. I am thrilled that, after years of dedication and perseverance, we are poised to tap into the capital markets, which will catalyze our growth trajectory.” Subject to any unforeseen circumstances, the Group is on track to list on the ACE Market of Bursa Malaysia Securities Berhad by the third quarter of this year.

Microsoft CEO Satya Nadella
News

Microsoft’s $2.2 Bil Investment Propels Cloud and AI Services in Malaysia

KUALA LUMPUR: In a statement on Thursday, Microsoft announced its commitment to invest $2.2 billion in Malaysia over the next four years, aimed at bolstering the nation’s digital transformation. This significant investment marks Microsoft’s largest in Malaysia since its inception 32 years ago. CEO Satya Nadella’s visit to Kuala Lumpur as part of his Southeast Asia tour underscores the company’s dedication to promoting its innovative artificial intelligence (AI) technology in the region. Prior stops in Indonesia and Thailand set the stage for this pivotal announcement. Microsoft’s investment will encompass the development of cloud and AI infrastructure, as well as the provision of AI training opportunities for 200,000 individuals, thereby nurturing Malaysia’s burgeoning developer community. Furthermore, the tech giant pledges collaboration with the Malaysian government to establish a national AI Center of Excellence and fortify the nation’s cybersecurity capabilities, signaling a strategic partnership geared toward advancing Malaysia’s digital landscape.–REUTERS

News

ICAP Shares Outperform MSCI Malaysia, S&P500, and Nasdaq in 1- and 3-Year Periods in USD

KUALA LUMPUR: In the realm of investment performance, icapital.biz Berhad (ICAP, 5108), Malaysia’s sole listed closed-end fund, has unequivocally surpassed major benchmarks – the MSCI Malaysia Index, the S&P500, and Nasdaq – in the span of a year, measured from April 1, 2023, to March 29, 2024. During this twelve-month period, ICAP’s share price surged by 47.75%, while the MSCI Malaysia returned (-0.98%), and the S&P500 and Nasdaq yielded returns of 27.86% and 34.02% respectively. Extending the horizon to three years, ICAP continued to demonstrate superior performance, achieving a return of 49.34%. In contrast, the MSCI Malaysia index, S&P500, and Nasdaq yielded returns of (-17.58%), 32.26%, and 23.65% respectively over the same period. As of March 29, 2024, ICAP’s total net asset value (NAV) stood at RM536 million or RM3.82 per share, based on its 140 million shares outstanding. Tan Teng Boo, the Designated Person of ICAP, confidently stated, “Whoever doubts Malaysia’s potential as an investment haven hasn’t looked closely enough. It can even outshine Nasdaq given the right Malaysian asset. Investing in ICAP shares not only secures robust returns but also shields against currency fluctuations,” he emphasized. Tan, recently appointed as Adjunct Professor of University of Technology Sydney (UTS) in Australia, expressed optimism about the Malaysian market during Investor Day on November 5, 2023, citing favorable macroeconomic conditions. He anticipates a sustained bullish trend in the Kuala Lumpur Composite Index (KLCI) over the next three to five years, driven by overarching macroeconomic factors. Tan forecasts the KLCI index to range between 2,500 to 3,000 points over the next three to five years. In light of these projections, Tan envisions two scenarios for ICAP’s share price if the KLCI reaches 3,000 points. Firstly, Tan anticipates ICAP’s NAV to double to RM7.86. Assuming ICAP’s share price mirrors the NAV at RM7.86, this implies a surge of RM4.81 or a 158% increase from RM3.05. In the second scenario, Tan notes that historically, ICAP’s NAV has outperformed the KLCI by an average of 6% annually. Consequently, if the KLCI doubles in five years, ICAP’s NAV would reach RM10.19. Assuming a 10% premium to NAV, ICAP’s share price would be RM11.21, translating to a rise of RM8.16 or 267% from RM3.05. Tan underscores that these performance scenarios exclude the impact of ICAP’s innovative dividend policy, which aims to narrow the gap between ICAP’s share price and its NAV per share. Introduced on September 29, 2023, this innovative dividend policy comprises a Base Rate of 1% of ICAP’s NAV per share, plus 8% of the difference between ICAP’s share price and NAV, referred to as the Top-up Rate. In essence, this policy amalgamates the 1% Base Rate and the 8% Top-up Rate to enhance returns for shareholders.

ESG

Frangipani Langkawi Accelerates Path to Sustainability, Sets Target to 2030

KUALA LUMPUR: The tourism and hospitality sector is strongly emerging as a pivotal player in shaping a more environmentally conscious future as the world increasingly prioritises sustainability in all aspects of businesses. However, key industry stakeholders face challenges that demand strategic attention and action to effectively contribute to the United Nations (UN) Sustainable Development Goals (SDGs). While many prominent players in the tourism and hospitality sector openly declare their dedication to corporate sustainability, the prevailing understanding within the industry prioritises business goals, streamlined operations, and saving money rather than genuine sustainability concerns. One local hospitality player has been moving strongly towards achieving sustainability in its businesses and operations. The Frangipani Langkawi Resort And Spa group managing director Anthony Wong said the resort achieved accolades from two UN bodies, the United Nations Development Programme (UNDP) and the UN Sustainable Development Solutions Network (SDSN), in 2022, declaring it the centre of excellence (CoE) in sustainable hospitality. “Our book, which is 270 pages long, offers over 200 ways to practice sustainability. We envision achieving carbon neutrality by 2030 instead of 2050 and showing others how to accomplish this. “From the start of our resort operations, we have considered sustainability, and when the UN introduced the concept of sustainability, we used it as a benchmark. “Over the past 18 years, we have dedicated ourselves to this endeavour, successfully attaining all 17 SDGs. Our team, comprising three full-time members solely dedicated to environmental, social, and governance (ESG) initiatives within the resort and two external team members, receives unwavering support from all department heads in our pursuit of sustainable goals. “We have full-time officers recording our water, energy, food and green practices, and documentation is compulsory where we produce academic papers to teach local higher learning institutes on sustainability practices,” Wong told The Exchange Asia. The resort is allocating approximately RM5 million to enhance its facilities, particularly water and food security. Additionally, more investments will be made in energy-saving equipment such as solar panels, wind turbines, and electric vehicles (EVs). Furthermore, there are also plans to increase tree planting to serve as carbon sinks. Note that the current best practices in sustainable hospitality involve the hospitality industry’s better waste management and reduction. This means hotels must take initiatives to use less plastic and disposable items, waste less food, and explore innovative recycling solutions. Secondly, water conservation, whereby water-efficient fixtures, rainwater harvesting systems, and greywater recycling technologies are adopted to reduce water consumption without compromising guest comfort. Finally, sustainable sourcing, local partnerships, and how leading hotels should prioritise procuring goods and services that meet ethical and environmental standards, including organic and locally produced items. Hotels can reduce their carbon footprint by fostering local partnerships and supporting nearby businesses and communities. When asked to elaborate on various sustainability initiatives, Wong said the resort is currently upgrading every room to have a larger internal garden with the edible landscape around the villas, watering from grey water and more rainwater harvesting, and underground tanks and most villas have rainwater harvesting tanks. “We are producing more organic food and creating more education programmes focusing on the environment and sustainability, especially for children. We are also planting more flowers and making our landscape more colourful. “Our resort boasts 115 villas along a spacious 350-meter beachfront, set within an expansive 11.3-acre estate. “We prioritise family education and provide healthy dining options. Unlike targeting the mass market, we cater to a more intimate experience,” Wong said. When asked how the leadership philosophy influences the resort’s management, Wong said leadership is needed as sustainable concepts are still new in Malaysia. “We train everyone on why and how. We recognise internal green champions. We have the training, documents, and videos to learn, and most importantly, I am teaching staff myself on the ground. “Our main challenge is recruiting skilled staff who can grasp the principles of sustainable hospitality and possess a warm, friendly attitude. “We are open to offering higher wages to incentivise productivity. Therefore, the ability to multitask is essential for survival and success in our industry,” Wong pointed out. “My journey in greening and sustainability started nearly 50 years ago, and I pioneered ecotourism in the Asia Pacific. “We are now partnering with the UN to spread our sustainable green practices and discoveries so more countries can learn from our work globally. The best way for capacity building. “Our goal to be a sustainable green hotel school is almost there. We can show over 200 ways to save involving architecture, bioengineering, chemistry, natural science, biology and continuous research,” Wong said.

Investment & Market Trends, News

Airbus, Positioned to Enhance Malaysia’s Defense Capabilities

KUALA LUMPUR: Airbus Helicopters reaffirms its commitment to bolstering its current collaborations and network in Malaysia while striving to uphold its dominant position in the market. Addressing reporters at Airbus’ helicopter facility in Subang, Axel de Pascal, Managing Director of Airbus Helicopters Malaysia, emphasized the significance of Malaysia as a key market for the company. Airbus, the European helicopter manufacturer, aims to incrementally expand its market share over the next five years, particularly in the military sector. “We anticipate a rise in military requirements for specialized operations, search-and-rescue missions, and tactical transport within Malaysia and the surrounding region. Our combat-proven multi-role H225M is ideally suited to fulfill a wide spectrum of mission needs,” remarked De Pascal. The H225M is presently contracted by ten military forces globally, with over 170 units delivered, over 40 on order, and an additional 50 supporting governmental agencies in search and rescue missions. Four of these ten H225M military customers are situated in the Asia-Pacific region, including Malaysia. The extensive utilization of the H225M underscores its effectiveness as a force multiplier, enabling swift deployment in diverse weather conditions. Furthermore, numerous operators employ the versatile helicopter for various civil and parapublic missions. The Royal Malaysian Air Force (RMAF) presently operates 12 H225M helicopters from bases in Kuantan and Labuan. Tailored for the most demanding missions, these multi-role H225Ms have actively engaged in numerous military exercises and humanitarian missions over the past decade, including flood rescue operations, pandemic aid delivery, and life-saving missions. The RMAF’s H225M fleet has achieved global recognition as the highest military flyer per aircraft, accumulating over 30,000 flight hours to date. Under Budget 2024, the RMAF has been allocated funding to procure an additional 12 helicopters. Airbus stands ready to propose its H225M for consideration when the time arises. “Malaysia is already well acquainted with the capabilities of the H225M, and stands to benefit from a unified fleet with immediate operational readiness and reduced operational expenses,” added De Pascal. De Pascal reiterated that any expansion in military capabilities would inevitably lead to an expansion of the company’s existing partnerships and ecosystem. “We are confident that the additional H225M helicopters will complement the RMAF’s existing fleet. With an established ecosystem in place, the introduction of additional assets will significantly enhance the air force’s efficiency across all levels.” Airbus has continuously invested in modernizing the multi-role H225 workhorse to align with evolving mission requirements, elevating it to the highest safety standards and reducing its time to market. Recent investments have focused on upgrading the main gearbox, enhancing industrial processes, simplifying maintenance procedures, and improving cost-effectiveness. “With new infrastructural enhancements incorporated into the H225’s industrial process, production will extend beyond 2040, ensuring stability and sustained fleet support for decades to come.” “There are considerable opportunities for the H225M. Airbus is confident that this helicopter platform will become a vital enabler, complementing Malaysia’s existing fleet seamlessly.”

Energy & Technology, News

Straits’ Unit Fast-Tracks Energy Transition with First ISCC EU Certified Marine Biofuel Delivery in Malaysia

KUALA LUMPUR: Today, Straits Energy Resources Berhad (“Straits” or the “Company”), a publicly listed entity on Bursa Malaysia, proudly announced a significant milestone. Its subsidiary, Tumpuan Megah Development Sdn Bhd (“Tumpuan Megah”), has achieved what is believed to be a groundbreaking feat: the successful delivery of the first-ever International Sustainability and Carbon Certification (“ISCC EU”) certified marine biofuel by a Malaysian supplier. In collaboration with Minerva Bunkering Pte Ltd, the world’s largest physical bunker supplier and a prominent international marine fuel provider, Tumpuan Megah supplied approximately 4,500 metric tonnes of ISCC EU-certified B24 marine biofuel to a containership operated by one of the world’s top three largest integrated logistics companies. This momentous bunkering operation took place on April 25, 2024, at the Port of Tanjung Pelepas in Johor state.   Dato’ Sri Ron Ho Kam Choy, Managing Director of Straits Energy Resources Berhad, expressed his enthusiasm, stating: “We are thrilled to announce the successful delivery of ISCC EU certified marine biofuel by Tumpuan Megah, in collaboration with Minerva Bunkering, at the Port of Tanjung Pelepas. This achievement marks a significant milestone as it represents the first delivery of certified sustainable marine biofuel by a Malaysian supplier. It underscores our unwavering commitment to facilitate the industry’s transition towards alternative fuels and mitigate its environmental impact.”   He further emphasized the potential of sustainable marine biofuels in substantially reducing carbon emissions and mitigating the overall carbon footprint of maritime operations. However, he stressed the importance of ensuring the sustainability of biofuels, highlighting the significance of ISCC EU certification in assuring feedstock sustainability, supply chain traceability, and verified emission reductions.   “As Malaysia’s inaugural ISCC EU-certified supplier and trader of maritime biofuels, and a prominent provider of quality bunker fuels in the nation, we are poised to play a pivotal role in driving the industry’s sustainable growth,” Dato’ Sri Ron Ho Kam Choy remarked. “As the demand for marine biofuels continues to surge, we anticipate this segment to significantly contribute to our future earnings growth.”   Tumpuan Megah primarily engages in ship-to-ship bunkering services and barging operations. In January 2024, Straits Energy Resources Berhad announced Tumpuan Megah’s pioneering achievement as the first Malaysian industry player to attain ISCC EU certification as a supplier and trader of biofuels, leading the charge in reducing shipping’s carbon footprint. This milestone also paved the way for Straits’ entry into the rapidly expanding marine biofuel trading and bunkering sector.   With ISCC EU certification, maritime industry stakeholders can demonstrate compliance with the sustainability and greenhouse gas emission reduction criteria outlined by the European Union (EU). This includes adherence to the EU Renewable Energy Directive (RED II), which establishes stringent guidelines for identifying sustainable biofuels. Notably, ISCC certification holds recognition in key energy markets such as the European Union, the United Kingdom, Japan, and Singapore.

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