NEWS

KRI calls for national coordination and central AI agency to streamline AI governance

Industry stakeholders have emphasised the urgent need for a coordinated national approach to artificial intelligence (AI) governance in Malaysia. ...

Bits + Bytes: A Miscellany of Technology

In 2021, Coldwell Banker Richard Ellis, the world’s largest commercial real estate services and investment firm, said during a real estate investment trust (REIT) webinar that data centres would be one of the most sought-after REITs in the coming years.

Fast forward three years and data...

Investments: REITs gain traction from data centre boom

Data centres, often perceived as mere physical infrastructures housing hundreds of servers and consuming vast amounts of electricity, are the unsung heroes of the digital age. They are the backbone of cloud computing and artificial intelligence (AI), enabling countless innovations across various ...

Ideas: The power behind progress

Following the memorandum of understanding signing for the proposed Johor-Singapore Special Economic Zone (JS-SEZ), much excitement has erupted on the front of strengthening Malaysia and Singapore’s long-standing relationship. The two countries — while typically touted as competitors — are set to ...

Multiplier Effect: JS-SEZ offers data centre opportunities by the bucketful

Colocation data centres are rapidly gaining popularity, owing largely to the growing need for secure, scalable and cost-effective IT infrastructure. These may also prove to be a boon for small and medium enterprises (SMEs) that want their IT needs reliably and efficiently met. In a nutshell, a co...

Guide: Colocation: A game changer for SMEs

The digital revolution continues to transform Malaysia, driving innovation and economic growth in a rapidly changing world. At the heart of this transformation lies critical infrastructure — data centres which house the servers storing and processing our data — that forms the complex backbone of ...

Solutions: DCI: Key to digital expansion

Developing data centre infrastructure is key to Malaysia’s goal of becoming a digital hub, boosting data capacity and attracting foreign investments. However, this expansion raises concerns about data security and sovereignty, requiring a balance between investment and protection.

The c...

Safeguards: Navigating cybersecurity challenges amid growth demands

When Singapore pulled the plug and announced a moratorium on data centres, the floodgates opened and the data powerhouses came pouring into Malaysia. Now, the country is vying to become the data centre hub of the region, as it attracts investments due to more affordable land value, coupled with g...

Cover Story: Powering the future

The development of tech hubs and data centres is closely interconnected; both sectors drive and benefit from each other’s growth and advancements.

Hubs such as Cyberjaya offer dark fibre connectivity, enabling companies to effectively manage their network infrastructure. This set-up ens...

Tech parks: Building the digital backbone

Malaysia’s emergence as a data centre hub brings significant environmental challenges, particularly since the country relies on electricity generated from fossil fuels.

“Data centres are significant consumers of energy. Managing this consumption efficiently is vital to both operational ...

Sustainability: Balancing growth with green innovations

Climate change is a long-standing issue that rose to the main agenda of policymakers and the private sector for most of the 21st century. This is as rising sea levels, global warming and increasing extreme weather events turned it into a crisis. This infographic presents the historical timeline for the discovery of climate change and the international cooperation ­to tackle the crisis.

The history of climate change

Malaysia, situated just north of the equator, is free from many forms of natural disasters. However, it is prone to seasonal flooding that is increasing in frequency on the back of global warming.

Climate risks, particularly floods, under focus

Malaysia’s pristine marine ecosystems are facing a crisis, where thriving coral reefs and diverse fish populations are now threatened by rising sea temperatures, ocean acidification and extreme weather events.

Dying corals and dwindling fish populations

ESG asked two individuals, who grew up in vastly different locations, to share how they have observed the climate changing and how it has impacted their lives

Observations of climate change

According to the latest scientific reports, the consensus is that not enough is being done to limit the rise of the average global surface temperature to 1.5°C above pre-industrial levels.

The climate action gap

SD Guthrie Bhd (KL:SDG) started looking into the physical risks of climate change when its research and development (R&D) team, which is tasked with looking at long-term trends, began picking up on changes in rainfall patterns, sea level rise and temperatures.

SD Guthrie sees climate change as material risk

The 2023 World Meteorological Organisation (WMO) report on the State of the Global Climate concluded that 2023 was the hottest year recorded, averaging at 1.45°C above the pre-industrial temperature (1850-1900).

The global state of climate change

Efforts to mitigate carbon emissions are crucial in combating climate change, yet an equally important aspect that does not get highlighted as often is the strain it can put on the overall healthcare system of a country and its impact on public health.

Climate change is also a health hazard

The theory of the “butterfly effect” uses the anecdote that the simple flutter of a butterfly’s wings can cause a tornado on the other end of the earth, implying how minor actions can spiral into a major one of grave consequences.

Nature in crisis

Heatwaves are becoming a pressing issue in the country, with experts predicting a future where more intense and longer-lasting heatwaves are the norm. This necessitates the adoption of a holistic approach to address the detrimental effects of heatwaves.

Living with the heat

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MORNING CALL: 13/9/24

In today’s edition of Evening 5: 0:06 Global funds rush into Malaysian, SEA stocks as Fed pivot play1:28 IOI Properties plans more industrial parks within next five years2:47 Malaysian retailers point to 2Q growth slowdown amid rising prices4:16 Concorde Hotel Kuala Lumpur not for sale, says owner5:27 High Court grants stay over registration of Semantan Estate

EVENING 5: Global funds rush into SEA stocks as Fed pivot play

[Branded] Garden International School’s brand new state-of-the-art sports centre will not only enrich the students, but help to bring the community together according to educators BK Gan and Simon Mann. Learn more about GIS Open Day: https://bit.ly/GISOpenDaySept2024

GIS’ new sports centre builds character and community

KUALA LUMPUR (Sept 13): Malaysia officially joined the Wipo Alert data sharing platform to strengthen the country’s intellectual property (IP) enforcement in the digital era, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

He said Wipo Alert is an onlin...

Armizan: Malaysia joins Wipo Alert data sharing platform to strengthen IP protection in digital era

The US dollar slumped to its lowest this year on Friday versus the yen while gold hit a record high as investors ratcheted up bets for a super-sized Federal Reserve (Fed) interest rate cut next week.

US dollar dives to 2024 low, gold at record high on revived bets for jumbo Fed cut

Thirteen children at shelter homes raided by the Royal Malaysian Police in an operation recently, code-named Op Global, are suspected to have been sodomised.

Cops believe 13 children from shelter homes to be victims of sodomy, open investigation papers against four men

Chinese President Xi Jinping called on government officials at all levels to achieve the country’s annual growth target, as analysts have cast doubt over momentum in the world’s second-largest economy.

Xi urges efforts to hit 5% growth target amid rising doubts

Boeing's US West Coast factory workers will walk off the job after 96% voted on Thursday in favour of a strike, halting production of the planemaker's strongest-selling jet as it wrestles with chronic output delays and mounting debt.

Boeing workers going on strike after 96% vote for walkout

Chinese appliance giant Midea Group Co raised US$4 billion (RM17.26 billion) in its Hong Kong listing, in an enlarged deal that was priced at the top of the marketed range, in a show of demand for the city’s biggest share sale in over three years.

Midea raises US$4b in upsized Hong Kong listing

Shares of Poh Huat Resources Holdings Bhd (KL:POHUAT) fell to an 11-month low on Friday, after the furniture company reported weaker-than-expected quarterly results.

Poh Huat declined four sen or 3% to RM1.29, its lowest since Oct 19, 2023. At that price, the company had a market capitalisation of RM359 million. Trading volume, however, was thin at 9.30am, with 61,700 million shares changing hands.

Poh Huat shares down to 11-month low after disappointing quarterly results

The drama over a takeover proposal for Seven & i Holdings Co has gotten investors interested in other Japanese retailers such as AEON Co, boosting their share prices.

Seven & I takeover proposal fuels rally in Japanese retailers like AEON

KUALA LUMPUR (Sept 13): Genting Bhd’s (KL:GENTING) new floating liquefied natural gas (FLNG) facility could potentially add RM613 million per annum to its net profit from FY2027 onwards, and RM1.27 per share to fair value.

Genting’s new FLNG facility to boost annual earnings by RM613m from FY2027 — CIMB

KUALA LUMPUR (Sept 13): Strong demand kept airlines’ load factor above pre-Covid levels as seen in the recently concluded second quarter of 2024 (2Q2024), according to MIDF Research.

Strong demand keeps airlines’ load factor above pre-Covid levels — MIDF

A proposed minimum wage increase will raise the Malaysian plantation sector’s operating cost and push the companies to spend more on automation, Public Investment Bank said.

Proposed minimum wage hike could raise palm oil companies' costs, spur automation push

Malaysia’s goal of boosting investments in its growing technology export sector is unlikely to be affected by the results of the US election, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul confident Malaysia's tech boom will withstand US election ripples

As Hong Kong’s commercial property slump drags on, Chinese state money has emerged as one of the few pillars of support. 

Chinese firms have become active buyers in the city’s flailing real estate market, snapping up shopping malls and offices as local and international investors pull back. While deal sizes are smaller than during Hong Kong’s heyday six years ago, the purchases underscore the financial hub’s ever-increasing reliance on Chinese money.

Hong Kong’s battered property market lures Chinese state buyers

Blue-chip companies are spending more money on US dollar bond interest payments, and even Federal Reserve (Fed) rate cuts this year won’t immediately reverse the trend.

Companies’ interest costs to keep rising, even with rate cuts

Rental rates for logistics spaces across Southeast Asia rose 2.5% on average in the first half of 2024, driven by increases in Vietnam, Greater Jakarta, Manila and Singapore, according to Knight Frank LLP’s Asia-Pacific Logistics Markets report for 1H2024.

Logistics rental in KL to stay flat next 12 months — Knight Frank

Malaysia is well on its way to becoming the region’s data centre hub. Incentives are being created to ensure the country becomes the preferred destination for data centres, and more will be introduced to accommodate artificial intelligence (AI) data centres, according to the Ministry of Investment, Trade and Industry.

Gearing up to meet data centre demands

The good news is the labour market has improved considerably for young people globally since the onset of the Covid-19 pandemic more than four years ago. Last year, 13% of the world’s young labour force – that is, individuals aged 15 to 24 – were unemployed, according to data from the International Labour Organization (ILO). It was the lowest rate in 15 years and a decrease from pre-pandemic times in all but three subregions. In those three subregions – the Arab states, East Asia and Southeast Asia and the Pacific – the youth unemployment rate in 2023 was higher than in 2019. In Southeast Asia and the Pacific (under which Malaysia falls), the unemployment rate grew to 9.9%, from 8.9% in 2019.

Global employment trends among youth

KUALA LUMPUR (Sept 13): Seal Incorporated Bhd’s (KL:SEAL) associate company, MSR Green Energy Sdn Bhd (MSRGE), has accepted a letter of award from Sabah Electricity Sdn Bhd (SESB) for a battery energy construction job worth RM645 million.

Seal Inc associate unit secures RM645m contract from Sabah Electricity

KUALA LUMPUR (Sept 13): The Legal Aid Department (JBG) has been instructed to assist children and their families who became victims of sexual crimes and exploitation in Selangor and Negeri Sembilan recently.

Azalina: Dept to provide legal companion service to victims of sexual exploitation

Several companies from China are in negotiations with the authorities on investments in Perlis, especially in the Chuping area near Padang Besar.

The Malaysian Investment Development Board’s (Mida) Kedah and Perlis director Mohd Rushdan Mohd Ghazali said the expected new investments involve the electric vehicle (EV) industry.

Chinese EV companies in talks in invest in Perlis — Mida

Hong Leong Asset Management Bhd, the fund management arm of Hong Leong Financial Group Bhd (KL:HLFG), on Friday announced the appointment of Chue Kwok Yan as its chief executive officer.

Hong Leong Asset Management names Chue Kwok Yan as CEO

The Malaysian Aviation Commission (Mavcom) announced on Friday the appointment of Datu Wong Hee Sieng as a new member of the commission effective Aug 16.

Mavcom welcomes Wong Hee Sieng as new member of commission

Former deputy minister Datuk Dr Mashitah Ibrahim has filed a defamation suit against the Malaysia International Humanitarian Organisation and two office bearers of the non-governmental organisation (NGO).

Former deputy minister sues NGO for defamation over human trafficking claims

Bina Darulaman Bhd (KL:BDB) has announced the resignation of Messrs KPMG PLT as its external auditor.

KPMG resigns as Bina Darulaman’s auditor, less than four months after reappointment

The Sabah government has welcomed the RM300 million increase in the interim special grant from the federal government for next year.

Chief Minister Datuk Seri Hajiji Noor said this was announced by Prime Minister Datuk Seri Anwar Ibrahim during the Malaysia Agreement 1963 Implementation Action Council (MTPMA63) meeting here on Thursday.

Sabah welcomes RM600 million interim special grant from federal govt

A total of 32,929 primary and secondary school students across the country have benefitted from the Wira Anti-Rasuah (WAR) programme, implemented by the Malaysian Anti-Corruption Commission (MACC), as of Thursday.

32,929 students nationwide benefit from MACC’s WAR programme

Private equity firm Creador Sdn Bhd has signed an agreement with CCK Consolidated Holdings Bhd (KL:CCK) for a RM163.1 million investment to acquire a 40% stake in the poultry company's Indonesian unit, PT Adilmart Tbk.

Creador acquires 40% equity in CCK’s Indonesian unit with RM163.1 mil investment

99 Speed Mart: A ‘flywheel’ business model for basic consumption goods

“The intent is to formalise governments’ duty to protect not only land, water and oceans, but also the atmosphere and the climate by seeing all nations as co-tenant trustees with obligations to their citizens and future generations.”

— Prof M...

My Say: Nowhere left to turn: Examining climate litigation in light of current progress

Well, that’s settled. In the US, Vice-President Kamala Harris has not only secured the Democrats’ nomination for the presidential elections coming up, but she has also chosen a running mate whom, by many accounts, seems a fine choice. Early indications are that Republican candidate Donald Trump a...

My Say: What the West frequently gets wrong about China

Since gaining independence in 1957, Malaysia has undergone tremendous transformation in its built environment and infrastructure, evolving from a nation with basic essential amenities to one that boasts world-class architecture and shiny skyscrapers.

Through the decades, both local and ...

Malaysia’s architectural landmarks through the decades

SEATED in a meeting room at United Overseas Bank (UOB) Malaysia’s corporate building, United Overseas Bank Ltd (UOB Group) deputy chairman and CEO Wee Ee Cheong is a picture of calm composure. Wee describes UOB as an “old man”, as it is poised to celebrate its 90th anniversary next year, but emph...

Cover Story: UOB to grow organically through seamless connectivity

HAD Wee Ee Cheong, deputy chairman and CEO of United Overseas Bank Ltd (UOB), not followed in the footsteps of his father and grandfather, he likely would have been a doctor today.

But as fate would have it, the third-generation leader of the Singapore-based lender, which turns 90 next ...

Cover Story: UOB’s Wee on driving business through values and culture

For parents whose children have challenges in attending national schools or who want to elevate their potential where the default private education system is beyond their reach and are on the lookout for an alternative route, Sekolah Anak Malaysia or SAM may well be the answer.

SAM is M...

Edunation: Alternatively, Sekolah Anak Malaysia beckons

Since the early 1980s, public-private partnerships (PPPs) have played a pivotal role in Malaysia’s development, driving infrastructure growth, improving public services and boosting the nation’s economy. Over the years, Malaysia’s PPP models have evolved to meet the diverse needs of the governmen...

My Say: Public-private partnership: Addressing critical challenges for its sustainability

Malaysia’s semiconductor industry, a crucial component of the global supply network, now stands at a pivotal moment with an opportunity to redefine its trajectory and strengthen its position in the supply chain.

Securing Malaysia’s position in the global semiconductor supply chain

The much-anticipated reopening of Stadium Merdeka finally happened on Aug 17 in conjunction with the Sultan of Selangor’s Cup, where Selangor edged out Singapore 2-1. The stadium was closed in 2016 to make way for the construction of the soon-to-be-opened Merdeka 118 tower.

Stadium Merd...

Stadium Merdeka returns to its former glory

ON Aug 28, 2024, the Swiss Federal Criminal Court convicted Swiss-British national Patrick Mahony and Swiss-Saudi Tarek Obaid for embezzling more than US$1.8 billion from 1Malaysia Development Bhd (1MDB). What they did together with Jho Low between 2009 and 201...

The original 1MDB crime, exposed in July 2015 by The Edge 

China is wooing global pharmaceutical giants with the pledge of faster approvals for innovative medicines and local production, as Beijing seeks to open its healthcare sector wider amid US efforts to contain its biotech ambitions.

China woos global drugmakers with promise of swift approvals

Indonesia’s President Joko Widodo ordered his cabinet to maintain stability and avoid implementing any abrupt policy changes ahead of the leadership transition next month.

No extreme policies ahead of leadership transition, Jokowi tells cabinet

Blackstone Inc is considering options, including a sale of its majority stake in visa outsourcing and technology services firm VFS Global, after receiving interest from prospective investors, people familiar with the matter said.

Blackstone said to weigh sale of US$7b consular tech firm

Hackers hit Taiwanese financial platforms including the stock exchange and lender Mega Financial Holding Co on Thursday, briefly disrupting their websites in what local media described as an attack by foreign agents.

Hackers hit Taiwan bourse, major bank in mystery foreign attack

(Sept 13): Some hedge funds are adding bullish yen wagers in the options market, on their expectation that the currency will extend the rally that has made it the world’s top performer this quarter.

Hedge funds are placing options bets for yen to rally more

China’s bond traders defied signs of intervention to push sovereign yields to a record low, setting up the stage for a showdown with authorities seeking to tame the blistering debt rally.

China's bond yields sink to record low with intervention in focus

(Sept 13): Crop trader Olam Agri Holdings Ltd has raised its takeover offer for Namoi Cotton Ltd, just two days after independent directors at the Australian producer recommended a rival bid from Louis Dreyfus Co BV.

Bidding war heats up as Olam raises offer for Namoi Cotton

(Sept 13): Vitol Group is poaching iron ore traders from rivals Glencore Plc and Trafigura Group, as the world’s biggest oil trader ramps up its efforts to expand into metals.

Vitol hires Glencore, Trafigura iron ore traders in metals push

The US Securities and Exchange Commission (SEC) will vote next week on some of the biggest revisions to stock-market rules in almost two decades, including how trades are priced and processed.

SEC to vote next week on part of US stock-trading revamp package

Shares of Wells Fargo & Co fell after the bank reached a deal with the Office of the Comptroller of the Currency (OCC) requiring the lender to beef up systems for detecting money laundering and complying with international sanctions.

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