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KUALA LUMPUR: Tanco Holdings Bhd (THB), through its 79 per cent owned subsidiary Midports Holdings Sdn Bhd (MHSB), signed a memorandum of understanding (MoU) with CCCC Dredging (Group) Co Ltd (CCCC Dredging), a subgroup of China Communications Construction Company Limited (CCCC), to develop Malaysia’s first smart artificial intelligence (AI) container port in Port Dickson, Negeri Sembilan. According to the agreement, MHSB has obtained approval from the Ministry of Transport Malaysia to develop a port in Port Dickson, aptly named Smart AI Container Port. This initiative aims to inject new vitality into the local economy and international trade, enhancing the region’s port services. The construction of this port will contribute to Malaysia’s goal of establishing a modern and efficient port hub, accelerating economic development in Negeri Sembilan and bolstering Malaysia’s global trade position. This development follows the joint venture agreement announced on February 27, 2024, between MHSB and Menteri Besar Negeri Sembilan (Perbadanan) (MBINS) for the reclamation works necessary for the project. THB group managing director Datuk Sri Andrew Tan Juan Suan said this collaboration with CCCC Dredging marks a pivotal step towards realising the company’s vision of a world-class port in Port Dickson. “The expertise and resources brought by CCCC Dredging will ensure the successful implementation of this project, which is set to drive economic growth and create job opportunities in the region,” he said in a statement. Established in May 2015 in Shanghai, CCCC Dredging is a specialised sub-group of China Communications Construction Company Ltd (CCCC), the world’s leading comprehensive service provider for ultra-large infrastructure. CCCC Dredging is the largest marine engineering company globally. It is committed to becoming a world-class dredging, eco-environmental, and marine industry group with global competitiveness in technology, management, and quality. With over 10,000 employees, registered capital of 11.7 billion renminbi (approximately RM7.6 billion), and total assets exceeding 100 billion renminbi (approximately RM64.8 billion), CCCC Dredging leads the world in dredging fleet scale and advancement. It operates nearly 200 vessels with an annual dredging capacity exceeding 800 million cubic meters. Notable projects include the Tianjin Port, Yangshan Deep Water Port, and the Hong Kong-Zhuhai-Macao Bridge. Its parent company, CCCC, is listed in Hong Kong and Shanghai and has a market capitalisation of approximately RM80 billion. The Smart AI Container Port project promises significant economic benefits to the local economy. With a 480-acre landbank owned by THB and natural deep water access exceeding 21 meters, the port will accommodate the largest container ships in the world, enhancing Malaysia’s maritime capabilities and creating new industrial zones. CCCC Dredging chairman Liu Yongman said the company’s combined expertise with THB and resources will pave the way for a port to boost Malaysia’s maritime infrastructure and set new operational efficiency and environmental sustainability standards. “We are committed to bringing our best capabilities to this strategic initiative and look forward to a successful collaboration,” he said. The Smart AI Container Port will incorporate technologies to optimise logistics, enhance operational efficiency, and minimise environmental impact. This development will improve maritime logistics for transhipment and gateway containers and contribute to the development of industrial hubs, fostering economic growth in Negeri Sembilan.

KUALA LUMPUR: Meta Bright Group Bhd (MBG) signed a memorandum of understanding (MoU) with ChemPartner Pharmatech Co Ltd (CP) to develop pharmaceutical and biotechnology hub in Malaysia, marking a significant milestone in MBG’s expansion into these sectors. This collaboration leverages CP’s extensive expertise and global standing to elevate MBG’s capabilities in the pharmaceutical and biotech arenas. The collaboration aims to develop a pharmaceutical and biotechnology hub in Malaysia, focusing on research and development, manufacturing, and commercialising pharmaceutical products and biotechnological advancements. This initiative represents a pioneering collaboration with a leading Chinese-listed company to establish such a hub in Malaysia. The signing ceremony was held in Shanghai, China, and was witnessed by deputy prime minister Datuk Seri Dr Ahmad Zahid Hamidi. CP, a company listed on the Shenzhen Stock Exchange with a market cap of approximately 2.4 billion renminbi (around RM1.6 billion), is renowned for offering comprehensive integrated services. These services include discovery chemistry, biology, pharmacology, drug metabolism and pharmacokinetics (DMPK) and toxicology. As a leading contract development and manufacturing organisation (CDMO), CP specialises in biologics discovery, development, and manufacturing. MBG managing director Lee Chee Kiang said this collaboration marks an exciting new chapter for the company. “This project differentiates us from typical developments as it involves creating a niche market with a leader in the pharmaceutical and biotech sectors. “Moving beyond traditional development projects, we have positioned ourselves to take on sophisticated projects. We are confident that this venture will solidify our position as a leading player in the market and contribute to the broader economic development of Malaysia. “Both MBG and CP share the same vision of strengthening bilateral relationships to contribute to Malaysia’s economy. “By leveraging CP’s expertise in pharmaceuticals and MBG’s strength in property development, we are set to create a groundbreaking hub that will benefit both our nations,” Lee said in a statement. CP chairman Datuk Woo Swee Lian said this cross-border collaboration with MBG will not only enhance the company’s global reach but also bring significant benefits to both China and Malaysia, fostering innovation and economic growth in the region. A filing with Bursa Malaysia shows that under the MoU, MBG will identify a strategic site for establishing the hub and oversee the construction and development of laboratories, manufacturing facilities, office and retail spaces. Additionally, MBG is committed to implementing environmentally sustainable practices to minimise ecological impact and promote green initiatives. CP, on the other hand, will seek and facilitate investment opportunities to support the hub’s growth and development. The company will engage with China-based pharmaceutical and biotech companies, academic institutions, and research organisations to foster collaboration within the hub. Besides that, the hub is anticipated to increase demand for renewable energy and energy efficiency solutions, operating leasing services for machinery and equipment, and building materials such as concrete. This will consequently strengthen MBG’s energy, leasing, and building materials businesses. MBG executive director of corporate and strategic planning Derek Phang Kiew Lim said the development of this pharmaceutical and biotechnology hub is a strategic move to diversify the company’s portfolio and a step towards contributing to Malaysia’s growing reputation as a centre for scientific research and development. ‘We are excited about this hub’s potential for fostering innovation and creating new opportunities in all the relevant sectors,” he said. The collaboration marks a new chapter for MBG, with the potential to bring substantial advancements and drive the company to new heights in the pharmaceutical and biotechnology sectors. The partnership with CP is expected to propel MBG into a new era of growth and success, solidifying its position as a leading player in the market.

RIYADH: The Securities Commission Malaysia (SC) has inked a Memorandum of Understanding (MOU) with the Islamic Development Bank (IsDB) Group, setting the stage for enhanced collaboration in the Islamic capital market (ICM) and expanding the scope of Islamic fintech and social finance, with a particular focus on waqf. The signing ceremony of this groundbreaking MOU was witnessed by the Honorable Prime Minister of Malaysia, Dato’ Seri Anwar Ibrahim, and the President and Chairman of IsDB, His Excellency Dr. Muhammad Al Jasser. This marks the inaugural agreement of its kind between Malaysia’s capital market regulator and the foremost multilateral development bank of the Global South.   Dato’ Seri Dr. Awang Adek Hussin, Chairman of SC, and Dr. Zamir Iqbal, Vice President of Finance and Chief Financial Officer of IsDB, sealed the MOU on the sidelines of the IsDB Annual General Meeting 2024 in Riyadh.   The genesis of this collaboration traces back to a meeting in March 2023 between Dato’ Seri Anwar and H.E. Dr. Muhammad Al Jasser, where they laid the groundwork for Malaysian regulators, authorities, and businesses to collaborate closely with IsDB. The envisioned areas of cooperation encompass the development and pilot testing of innovative Islamic finance products, bolstering the halal industry, and fostering support for micro, small, and medium enterprises (MSMEs).   Outlined within the MOU are several key areas of collaboration, including the facilitation of innovation in Islamic fintech, the promotion of Islamic social finance, and the encouragement of investment inflows, among others. Capacity building, knowledge sharing, and joint technical projects pertaining to ICM are also on the agenda, with the potential for mutual benefit to other IsDB member countries.   Dato’ Seri Dr. Awang Adek expressed optimism about the synergistic collaboration, heralding it as a historic milestone for both SC and IsDB. He emphasized the intent to expand Islamic fintech and explore new markets while seizing opportunities in social finance, particularly in waqf asset development, leveraging their respective expertise in capital markets and financial development.   Dr. Muhammad Al Jasser highlighted the MOU’s significance in enhancing Islamic fintech, social finance, and attracting foreign investment in private markets. This partnership, he stressed, will not only bolster Islamic capital markets in Malaysia but also across IsDB Member Countries, with a priority focus on supporting MSMEs and private markets for economic empowerment.   Aligning with the Capital Market Master Plan 3 (2021 – 2025), the MOU reflects strategic initiatives for the Malaysian ICM, including broadening its outreach to the broader economy’s stakeholders and fostering collaboration and innovation for sustainable growth.   In furtherance of these objectives, the SC, along with its affiliate Capital Markets Malaysia, has engaged with stakeholders in Abu Dhabi, Dubai, and Riyadh, advocating for the impact of ICM and bolstering Malaysia’s global thought leadership. Sharifatul Hanizah Said Ali, Executive Director of Islamic Capital Market at SC, has underscored the potential of ICM in structuring innovative financing instruments to advance social impact investing, sukuk issuances, and Islamic asset management.   In 2023, the Malaysian ICM witnessed a growth of 4.5% to RM2.4 trillion, with sukuk outstanding increasing by 7.4% and Shariah-compliant equities by 1.5%. Malaysia’s leadership in ICM, particularly in sukuk outstanding and Islamic fund management, has been consistently recognized in global indices, including the Islamic Fintech Index, the Global Islamic Economy Indicator, and the global Islamic Finance Development Indicator, for the past decade.