Artificial intelligence (AI), sustainability issues and deglobalisation are among the key factors that will result in 83 million job losses and transform nearly a quarter of all jobs (23%) globally over the next five years, according to the World Economic Forum (WEF).

AI, green transition to disrupt nearly 25% of all jobs by 2028

Chatbots have captured the world’s attention. Artificial intelligence (AI) large language model (LLM) tools can take seconds what it would take a human hours, if not days, to write — such as student research papers, business press releases and even computer code. And while this supports the ever-...

Vigilance: While AI can boost coding velocity, it still requires human oversight and security testing

When Digital Edge interviewed YTL Communications CEO Wing K Lee last month, he spoke passionately about the capabilities of the Yes Wireless Fibre 5G portable broadband device, so we decided to put it to the test.

The device, launched in Penang last September, is the country’s first&nbs...

Tech In Review: Combining speed with flexibility

When the Covid-19 pandemic hit in 2020, most people became accustomed to spending hours on video conferencing platforms to adhere to social distancing protocols. But it did not take long before fatigue hit, leaving many yearning for a virtual experience other than looking at a screen with people’...

Concept To Creation: Drag-and-drop metaverse builder lowers barriers to entry

Innovation-driven businesses in Malaysia are booming but they are in need of financial support from investors and government subsidies to scale regionally and internationally. Given that start-ups and new ventures have limited tangible assets to use as collateral — which consequently makes these ...

Intellectual Property: Measuring the value of intangible assets

Here’s a nerdy conversation with a scary twist. A chemical engineer and an artificial intelligence (AI) prompt engineer walk into a bar that is full of cigarette smoke. The chemical engineer orders, “Give me 250ml H2O first.” The prompt engineer smiles, “Get me a glass of water.” The bartender sm...

Econ 4.0: Can you become a prompt engineer?

Making false or exaggerated motor claims is one of the most common types of automotive insurance fraud in the country, costing insurers RM1 billion in 2021 alone.

It is both costly and time-consuming to assess the authenticity of motor claims. But with the use of artificial intelligence...

Solutions: AI a game changer in combating automotive insurance fraud

As the Premier League (PL) season draws to an end, football fans are waiting to see who will lift the coveted trophy. While the teams are fighting it out on the field, fans have taken to showcasing their strategic prowess in video games such as the Fifa football simulation series, which is played...

Cover Story: Aiming to score in fantasy football

A recent robust discussion on a LinkedIn post I created prompted me to write this article. In the post, I shared a newspaper clipping of an article I had written in 1999 where I stated that Malaysia did not have enough funding and that we were losing our talents to Singapore because Singapore inv...

The Pitch Deck: Multi-stage funding necessary for unicorn creation

NEWS

C4IR Malaysia to accelerate green transition and digital transformation

To drive advancement of the digital economy in Malaysia, the government, in collaboration with the World Economic Forum (WEF), launched the Centre for the Fourt...

Bits + Bytes: A Miscellany of Technology

Since the beginning of this year, the current Imbalance Cost Pass-Through (ICPT) surcharge imposed on non-domestic users from the commercial and industrial (C&I) sectors has led to swelling operating costs as a result of higher electricity tariffs.

GSPARX achieves solar synergy with the retail sector

Malaysia has so far committed to two climate targets. One is a nationally determined contribution target that is required of all countries that are signatories to the Paris Agreement, and the other is its net zero emissions target.

Is Malaysia achieving its climate targets?

Gentari Sdn Bhd is one of the new renewable energy (RE) players that have attracted significant attention, thanks to the profile of its owner, Malaysia’s national oil and gas company Petronas.

Petronas set up Gentari last June to deliver net-zero carbon emissions solutions through RE, h...

Q&A: Getting to know Gentari

The balcony of the Port of Tanjung Pelepas (PTP) offers a 180° view of its long berth, lined with towering cranes, stacks of containers and massive ships passing through the channel. At the corner of the visitor’s eye, however, is the sight of a formidable competitor: Singapore’s Tuas Port, which...

Logistics: Tanjung Pelepas wants to get ahead with ESG

After two years of high oil prices, the Malaysian government finally announced that the electricity tariff for non-residential (medium- and high-voltage) users will be increased from 3.7 sen to 20 sen from January 2023.

This triggered an outcry from businesses that were suddenly fa...

Cooler Conversations: Coping with higher electricity prices

A lot of protests were heard in this part of the world when the European Union’s regulation on deforestation-free products (EUDR) was first introduced in 2021.

The EUDR, which was adopted by the European parliament in April, will require suppliers to prove that their products entering t...

Cover Story: Is Malaysia ready for the EU regulation on deforestation-free products?

Soaring electricity bills due to a hike in oil, gas and coal prices globally have been a source of frustration for businesses. However, this has also led to higher demand for renewable energy (RE), especially solar panels.

Earlier this year, the Malaysian government announced a surcharg...

Energy: Riding on the increasing demand for solar energy

As a little girl, Leena Ghosh was captivated by the movie Choices of the Heart (1983), starring Melissa Ellen Gilbert of Little House on the Prairie fame. The movie tells the story of a young missionary from the US who, together with two other missionaries, was killed in El Salvador in 1980. “Sin...

Labour: Fighting for universal human rights

Margie Ong, CEO of sustainability consulting firm Thoughts In Gear, has compiled a 40-point checklist on what businesses can do to improve their sustainability reporting. Businesses can decide if they want to aim for a minimally compliant report or one that is universally understood.

A checklist for your sustainability report

Corporate venture capital (CVC) is the new buzzword in town, but it’s taken me seven years to get to this stage. What do I have to do with CVC?

Two years before his untimely death in 2018, Cradle Fund CEO Nazrin Hassan and I had coffee one day, debating why the Malaysian corporate secto...

The Pitch Deck: Corporate mindset change needed to play start-up game

The Edge Property Excellence Awards 2023

The Edge Best Managed & Sustainable Property Awards 2023

The Edge ESG Awards 2022

The Edge Billion Ringgit Club 2022

The Edge Centurion Club Corporate Awards 2022

HLIB Research finds CIMB’s valuations inexpensive and says the stock offers good yield<br />

MORNING CALL: 2/6/23

In today’s edition of Evening 5 — Panasonic Malaysia has come out to clarify that it has no plans to cease operations in Malaysia after it closed two product manufacturing departments following a rationalisation exercise. Meanwhile, Green Packet founder CC Puan has been declared bankrupt. <br />

EVENING 5: Panasonic says it is shutting down only two manufacturing units

KL Wellness City, the first purpose-built healthcare and wellness township project in Southeast Asia, is officially launched. <br />

NEWS: KL Wellness City officially launched

WASHINGTON (June 1): The US Senate is on track to pass a bill to lift the government's US$31.4 trillion debt ceiling late on Thursday, Democratic Majority Leader Chuck Schumer announced, adding, "We are avoiding default tonight".

US Senate set to pass debt limit suspension bill on Thursday night

KUALA LUMPUR (June 2): The ringgit traded higher against the US dollar in the early session on Friday (June 2), as investors await the release of the United States (US) nonfarm payrolls data later in the day, said a dealer.

Ringgit rises against US dollar in early session on June 2

KUALA LUMPUR (June 2): Bursa Malaysia rebounded to trade higher in the early session Friday (June 2), boosted by bargain-hunting activities, in line with the positive Wall Street performance overnight.

Bursa Malaysia rebounds in early session, lifted by bargain hunters

KUALA LUMPUR (June 2):  Kenanga Research is projecting  CY23F FBM KLCI earnings to contract by 1.2% (from +10.5%) and has lowered its end-2023 FBMKLCI target to 1,480 points (from 1,610 points).

In a 1QCY23 Report Card note on Friday (June 2), the research house said corporate...

Kenanga Research projects  CY23F FBM KLCI earnings to contract by 1.2%

Corporate Malaysia handed in a largely disappointing first quarter earnings report card, which reflected general weakness in the economy, dragged by slowing external demand, with little help seen from the much-anticipated reopening of China.

More companies reported earnings that were below expectations in the January to March period of this year compared with the previous quarter, while there were fewer companies that managed to surprise with better-than-expected results, said Fortress Capital Asset Management chief executive officer Thomas Yong

Malaysia's corporate profits disappoint on slowing demand, with little help from China reopening

NEW YORK (June 2): Elon Musk is being accused of insider trading in a proposed class action by investors accusing the Tesla Inc CEO of manipulating the cryptocurrency Dogecoin, costing them billions of dollars.

In a Wednesday night filing in Manhattan federal court, investors said Musk ...

Elon Musk is accused of insider trading by investors in Dogecoin lawsuit

(June 2): Apple Inc. is working on plans to expand and revitalize its retail chain, aiming to push deeper into China and other parts of Asia while overhauling established locations in the US and Europe.

Through 2027, the iPhone maker is discussing opening 15 new stores across the Asia-P...

Apple plans major retail push with new stores across China, US

(June 2): The Nasdaq and S&P 500 surged to nine-month closing highs on Thursday as signs of slowing wage pressure raised hopes the Federal Reserve will pause hiking interest rates and investors cheered a vote in Congress to suspend the U.S. debt ceiling.

The number of Americans fili...

Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

NEW YORK (June 2): Global equities rose on Thursday after the U.S. House of Representatives passed a bill to raise the federal debt ceiling, while U.S. Treasury yields fell as data reflected a cooling labor market that reduces the possibility of an interest rate hike by the Federal Reserve.A bill...

Global equities rise, U.S. yields fall after debt ceiling bill advances

Here is a brief recap of some corporate announcements that made news on Thursday (June 1): Panasonic Manufacturing Malaysia Bhd, Affin Hwang Investment Bank Bhd, Velesto Energy Bhd, Green Packet Bhd, Top Builders Capital Bhd, Star Media Group Bhd, Citaglobal Bhd, AME Elite Consortium Bhd, Sarawak Consolidated Industries Bhd, United Plantations Bhd, Meta Bright Group Bhd, Top Builders Capital Bhd, Kimlun Corp Bhd and Synergy House Bhd.

Panasonic Malaysia, Affin Hwang Investment, Velesto Energy, Green Packet, Top Builders Capital, Star Media, Citaglobal, AME Elite, SCIB, UP, Meta Bright, Top Builders, Kimlun and Synergy House

EVENING 5: Five things you need to know today

The number of Americans filing new claims for unemployment benefits increased modestly last week, suggesting the labour market remains tight despite growing fears of a recession amid higher borrowing costs.

US weekly jobless claims rise modestly; layoffs increase in May

US companies have announced more job cuts this year than during all of 2022, according to executive coaching firm Challenger, Gray & Christmas Inc.

Planned layoffs have quadrupled so far this year in the US

Swiss National Bank Chairman Thomas Jordan on Wednesday (May 31) defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the downfall of Credit Suisse.

SNB defends raising rates, says not to blame for Credit Suisse failure

Russia's Federal Security Service (FSB) said on Thursday (June 1) it had uncovered a US National Security Agency (NSA) plot using previously unknown malware to access specially made so-called backdoor vulnerabilities in Apple phones.

Russia says US accessed thousands of Apple phones in spy plot

Post-pandemic, small and medium enterprises in Southeast Asia have fully come around to the benefits of going digital. They are expected to invest US$130 billion (RM601.9 billion) in technology over the next three years. What is the state of digitalisation of SMEs in the region, especially local ones? What areas are they are looking to digitalise?

SMEs and digitalisation — big opportunities for tech providers 

Headline inflation in most economies around the world has been coming off its peak since central banks started raising interest rates. At present, there is a strong disinflationary trend underway, according to DBS Research.

Disinflationary trend underway

KUALA LUMPUR (June 2): The Securities Commission Malaysia (SC) has updated its Investor Alert List.

In an alert on Friday (June 2), the commission said the following person/entity was added to the list:


	Potential clone entity — iWahed


The Investor Ale...

SC adds one potential clone to Investor Alert List

KUALA LUMPUR (June 2):  Hong Leong Investment Bank (HLIB) Research has maintained its “Sell” rating on Velesto Energy Bhd at 23 sen with an unchanged target price (TP) of 19 sen after Velesto announced that it has received a job win for the provision of jack-up drilling rigs for Vestigo Petr...

HLIB Research says Velesto's valuations have become inflated

The country is not expected to face a water crisis like the one in 1998, although Malaysia is predicted to experience the El Nino phenomenon from June to September this year.

National Water Services Commission (SPAN) regional operations division director Azrul Raimee Ramli is of this view after looking at the Malaysian Meteorological Department’s (MetMalaysia) weather report and the current global warming.

Malaysia will not experience water supply crisis during El Nino — SPAN

Iskandar Investment Bhd (IIB) has recorded US$6.8 billion worth of investments since its incorporation in 2006 until last year, Johor Menteri Besar Datuk Onn Hafiz Ghazi said.

He said, in fact IIB, which is an investment holding company to catalyse the strategic development of Iskandar Malaysia, had created 10,000 job opportunities during that period.

Iskandar Investment records US$6.8 bil worth of investments since 2006 — Onn Hafiz

Kelington Group Bhd (KGB) said that its 97.19%-owned subsidiary Ace Gases Sdn Bhd (AGSB) has acquired 85,000 shares or a 17% stake in Ace Gases Marketing Sdn Bhd (AGMSB) from Chong Ann Tsun for RM4.41 million.

Kelington acquires 17% stake of Ace Gases Marketing for RM4.41 mil in share swap deal

Kang Kok Wei has been appointed as executive director of AME Elite Consortium Bhd with effect from Thursday (June 1), replacing his father Kang Ah Chee.

AME Elite appoints new executive directors as part of succession plan

Iskandar Investment Bhd (IIB) has recorded US$6.8 billion (RM31.4 billion) worth of investments since its incorporation in 2006 until last year, Johor Menteri Besar Datuk Onn Hafiz Ghazi said.

Iskandar Investment logged US$6.8b worth of investments since 2006, says Johor MB

Towards widening its earnings base, Meta Bright Group Bhd (formerly known as Eastland Equity Bhd) plans to expand the group’s leasing and financing business segment to include the provision of industrial machinery and equipment leasing.

Meta Bright eyes industrial equipment leasing diversification for earnings boost

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives reversed three days of losses to end higher on Thursday, tracking gains on the Chicago Board of Trade’s (CBOT) soybean oil market.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said CPO futures also saw some short recovery after the prices for benchmark month August 2023 was seen at the lowest levels since November 2020 on Wednesday.

CPO futures snap three days of losses to close firmer

Global air cargo demand, as measured by cargo tonne-kilometres, fell 6.6% in April this year compared with the same month in 2022, according to the International Air Transport Association (IATA).

However, the rate of decline was slower than the previous month's 7.6% drop, it said.

Global air cargo demand down 6.6% in April 2023

Star Media Group: An unreasonable, value-destructive related-party transaction with Matang

On the Friday afternoon when City & Country visited Jalan Tun H S Lee, the chiming of the bells at the Cathedral of St John the Evangelist, located at the foothills of Bukit Nanas, could be heard.

It was 1pm and office workers as well as tourists were seen frequenting the b...

Streetscapes: Busy historical street in the heart of the city

IN March last year, the initial public offering (IPO) of Johor-based integrated dairy producer Farm Fresh Bhd, which raised RM1 billion, including fresh capital of RM301 million, was seen as a breath of fresh air for the local bourse.

Previously, investors who wanted exposure to the con...

Cover Story: Analysts see Farm Fresh as the cream of the crop among dairy stocks 

WHEN Farm Fresh Bhd started with 60 Holstein Jersey cows from Australia at its farm in Johor, nobody would have expected the home-grown dairy product specialist to come this far.

Spearheaded by its co-founder and managing director Loi Tuan Ee, a farmer turned entrepreneur who grew up in...

Cover Story: Farm Fresh moves up the dairy value chain

One of the defining developments of our time is the increasingly fractious relationship between the US and China. No one should underestimate the dangers posed by two nuclear-armed big powers pushing and shoving against each other. That is all the more the case for Southeast Asia, which will be o...

My Say: Is geopolitical turbulence really so bad for our region?

Seven years ago, in April 2016, Malaysia officially signed on to the Paris Agreement to pledge its commitment to achieve carbon neutrality by 2050. But since then, there has been no sight of a definitive road map to achieve this national goal, leading to questions on whether this remains only an ...

My Say: Carbon pricing for our future

What was the RM2.3 bil UEM/Renong transaction 26 years ago that MACC is now investigating? 

MINI-market operator KK Supermart & Superstore Sdn Bhd, which generates about RM1 billion in annual revenue, is weighing the option of floating its shares on Bursa Malaysia, possibly within the next one to three years.

Ahead of the potential listing, the retailer is on an expansion ...

KK Supermart mulls listing, speeds up expansion

ON the evening of Nov 8, 2016, US president-elect Donald Trump and his supporters were celebrating his election win at the New York Hilton in midtown Manhattan. As the results poured in, stock market futures were in free fall because investors were nervous about the incoming president’s policies....

The rise and fall of Wall Street legend Carl Icahn

Above-target inflation, rising interest rates and cost-of-living crisis are some of the significant risks affecting the global economy. But in Knight Frank’s The Wealth Report 2023, its 17th edition, the real estate consultancy firm says it is time for investors to look beyond these risk...

Investors should look beyond the ‘permacrisis’, says Knight Frank’s Wealth Report 2023

LOW-profile plastic packaging company Thong Guan Industries Bhd has seen stellar growth in its top and bottom line over the last five years, on the back of increasing demand for premium stretch film in Europe.

The group charted a compound annual growth rate (CAGR) of almost 10% in reven...

Thong Guan expects higher sales amid slow economy 

SEOUL (June 2): South Korea's consumer inflation eased for a fourth consecutive month in May to its slowest pace in 19 months, data showed on Friday, matching market expectations.

South Korean inflation cools to 19-month low

WASHINGTON (June 1): US Treasury Secretary Janet Yellen on Thursday told incoming World Bank Group President Ajay Banga to "get the most out of the bank's balance sheet" and mobilise more private capital for climate finance and global development objectives, the Treasury said.

Yellen urges new World Bank chief to 'get the most' from balance sheet

KUALA LUMPUR (June 2): Tesla Inc CEO Elon Musk has reclaimed the title of the planet’s richest man after a six-month hiatus, with a total wealth of US$195 billion, pushing Frenchman Bernard Arnault to second spot with US$187 billion.

Elon Musk knocks Bernard Arnault off the perch to reclaim top spot

SYDNEY (June 2): Australia's independent wage-setting body said on Friday it would raise the minimum wage by 5.75% from July 1, as families grapple with soaring living costs.

The lowest-paid employees will receive A$22.61 ($15.34) an hour from July 1, according to Reuters calculations b...

Australia raises minimum wage by 5.75% as living costs surge

(June 2): Russia’s main security service accused a US intelligence agency of hacking several thousand iPhones, including devices belonging to Russian nationals and others linked to diplomatic missions and embassies in the country.

The statement from Russia’s Federal Security Service, kn...

Russia accuses US intelligence of hacking thousands of iPhones

COLORADO SPRINGS, Colorado (June 2): President Joe Biden tripped and fell after handing out the last diploma at a graduation ceremony at the U.S. Air Force Academy on Thursday, but got up quickly and walked back to his seat.

The 80-year-old U.S. president fell forward, caught himself wi...

Biden trips and falls during graduation ceremony, recovers quickly

(June 2): Harassment of Europa League final referee Anthony Taylor and his family by AS Roma fans at Budapest Airport was condemned on Thursday by the PGMOL, which oversees refereeing in English professional football, after videos circulated on social media.

Taylor came under scrutiny f...

Harassment of Europa League final referee Taylor condemned by PGMOL

NEW YORK (June 2): Goldman Sachs Group Inc plans to cut more jobs as a difficult economic environment weighs on dealmaking and trading revenue may slump 25% this quarter, the bank's president said on Thursday.

"The macro backdrop is extraordinarily challenging," Goldman's president and ...

Goldman Sachs to cut more jobs, eyes sharp fall in markets revenue

US stock indexes rose by midday trading on Thursday as investors cheered passage of a bill by lawmakers to suspend the nation's debt ceiling amid bets that the Federal Reserve will skip raising interest rates in its next meeting.

Investors also looked on economic indicators, including the ADP National Employment Report that showed more-than-expected jobs additions in May, while a separate reading said weekly jobless claims increased modestly, both suggesting the labour market's resilience.

Wall St rises on debt ceiling deal cheer, hopes of Fed pause

Federal Reserve officials are signaling they plan to keep interest rates steady in June while retaining the option to hike further in coming months, steering market expectations ahead of a key employment report.

Governor Philip Jefferson, a centrist who’s nominated to be vice chair and who often echoes Chair Jerome Powell’s views, said Wednesday that skipping an increase would give policymakers time to assess data but not preclude future tightening

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