Alongside the AMG models that were introduced, Mercedes-Benz Malaysia also unveiled the Mercedes-Benz GLC 350 e 4MATIC Coupe.

The Mercedes-Benz GLC 350 e 4MATIC Coupe is a plug-in hybrid model that emphasises both luxury and practicality. The GLC 350 e offers an impressive all-electric range of over 100km (WLTP) and supports speeds up to 140km/h on electric power alone, making it a versatile choice for urban and longer-distance driving.

Design and Exterior Features

The GLC Coupe’s sporty silhouette is complemented by an AMG Line exterior, highlighted with 20-inch AMG multi-spoke alloy wheels, a panoramic sliding sunroof, and aluminium-look running boards with rubber studs. Polished aluminium roof rails enhance its premium profile, while the Digital Light technology with Adaptive Highbeam Assist Plus ensures high visibility across various driving conditions.

Interior and Technology

Inside, the GLC Coupé continues the AMG Line’s sporty aesthetic, with Artico man-made leather upholstery crafted to play with layered surfaces for a premium feel. The instrument panel and beltlines feature Artico leather in a nappa look, paired with a metal structure trim element. Adding to the luxury is a multifunction sports steering wheel in nappa leather and a high-quality Burmester 3D surround sound system.

Safety and Assistance Features

Equipped with the Driving Assistance Plus package, the GLC 350 e offers Active Distance Assist Distronic, Active Lane Keeping Assist, and Pre-Safe Impulse Side, delivering enhanced safety and driver support.

This new GLC 350 e 4MATIC Coupe is priced at RM425,888.

PROTON achieved notable success in October 2024, with total sales of 12,799 units, reflecting a 13.6% increase from September. This brings the year-to-date (YTD) total to 125,557 units, reinforcing the brand’s goal of securing a sixth consecutive year of growth. With a projected market share of 18.1% for October and a YTD share of 18.9%, Proton stands firmly as Malaysia’s second most popular automotive brand.

The automotive industry as a whole rebounded in October, with estimated total industry volume (TIV) reaching 70,668 units, marking the fifth time this year that monthly sales have exceeded 70,000 units.

Key Model Highlights

Proton Saga: Delivering 6,112 units in October, this model’s YTD sales reached 60,178 units, securing its spot as the third highest-selling vehicle in Malaysia. Proton aims for the Saga to surpass 70,000 units by year-end.

Proton X50: Leading the B-segment SUV market, the X50 maintained its popularity with 2,122 units sold in October, showcasing a blend of style, performance, and advanced features.

Proton S70: Regained its position as the top C-segment sedan with 1,432 units sold, boosting its YTD tally to 16,200. The upcoming Proton S70 R3 participation in the Sepang 1000km Endurance Race is expected to further enhance its appeal.

Proton X90: Delivered 245 units in October, holding the top position in the D-segment SUV category with a YTD total of 2,969 units.

Other models also posted solid performances, with the Persona and X70 recording 1,520 and 989 units, respectively, while the Iriz sold 379 units, placing it fourth in the B-segment hatchback category.

Outlook and Strategy

Proton anticipates strong competition in Q4 2024 due to increased market offers from various brands. However, the company remains focused on long-term value by enhancing product quality and customer service through its 157 3S/4S outlets, aiming to preserve residual values amid market challenges.

SAIC MOTOR MALAYSIA is wrapping up the year with a remarkable promotion for the MG4 EV and MG ZS EV, offering exclusive deals to make electric vehicle (EV) ownership more accessible. In honour of MG’s 100th anniversary, buyers can enjoy up to 20 months of free instalments, offering savings of up to RM26,000, making this an ideal time to join the MG family.

Here’s a breakdown of the promotion:

MG ZS EV: 20 months of free instalments worth RM26,000

MG4 EV Lux: 12 months of free instalments worth RM16,000

MG4 EV Standard: 8 months of free instalments worth RM8,500

This limited-time offer provides substantial savings and financial ease for MG’s new EV owners. Interested buyers can experience the MG4 EV, MG ZS EV, and other models with test drives at their nearest MG Motor Authorised Dealer Showrooms.

For more details, visit mgmalaysia.com or contact the MG Careline at 1800-28-3636.

CONTINENTAL has launched its Mini Program on the TNG eWallet, allowing Malaysian drivers to purchase Continental tyres with ease through their mobile phones. This launch is celebrated with exclusive promotions from 7 November to 30 November, coinciding with the 11.11 Mega Sale. Customers can enjoy up to RM1 million in cashback, with an average of 15% per transaction.

Additionally, any customer spending a minimum of RM300 from 7 November 2024 to 31 January 2025 will be entered into a lucky draw, with one entry for each RM300 spent. The grand prize includes a gold bar worth RM10,000, with other prizes like three iPhone 16 Pros, two PS5 consoles, two Huawei MatePad 11.5” PaperMatte Editions, and two Trapo Vouchers. Weekly winners can also receive cashback, a Limited-Edition Continental x Touch ‘n Go NFC Card, and more.

Andrea Somorova, Managing Director of Continental Tyre Malaysia, shared that this partnership reinforces Continental’s commitment to digital innovation and customer convenience in Malaysia, expanding their reach through the TNG eWallet alongside existing platforms like Shopee and Lazada. Alan Ni, CEO of TNG Digital, echoed this sentiment, emphasizing the TNG eWallet’s role as a lifestyle app, which, with over 22 million verified users, now offers a streamlined, digital tyre purchase and installation experience.

The Mini Program simplifies tyre shopping by helping users find the right tyre pattern and size, apply promo codes, select dealers, and schedule installations at over 120 Continental outlets across Malaysia. Once payment is confirmed, customers can proceed to their selected dealer for free installation, with balancing and optional alignment services.

STELLANTIS MALAYSIA is introducing the Leapmotor C10, its latest new energy SUV, through an exciting nationwide Leapmotor C10 Experience Roadshow. Attendees can get up close and personal with this innovative electric vehicle (EV), renowned for its award-winning design, advanced technology, and driving ease.

The roadshow will take place at the following locations:

Roadshow Highlights

Interactive Showroom: Experience the Leapmotor C10’s state-of-the-art features focused on comfort, intelligence, and spacious design.

Family-Friendly Area: The Publika roadshow will feature a Play Cabin for kids, while parents can explore the vehicle’s child-friendly interior.

Virtual Reality (VR): Immerse yourself in a VR experience for an in-depth look at the C10’s innovative technology.

Test Drive & Exclusive Merchandise

Visitors can test drive the Leapmotor C10 and experience its performance, powered by a Qualcomm® Snapdragon™ 8155 chip with driving optimization by Maserati for a seamless experience. Test drivers will receive exclusive Leapmotor merchandise, and all visitors can redeem a limited-edition Leapmotor tote bag and enamel pin set.

Special Booking Offer

Prospective buyers can enjoy a limited-time offer by booking the Leapmotor C10 at the roadshow before 30 November 2024 for an introductory price of RM149,000 on the road without insurance (RM10,000 off the original RM159,000 price).

BOLT, Europe’s leading mobility company, is launching its ride-hailing service in Malaysia’s Klang Valley, aiming to provide a fast, convenient, and eco-friendly way for residents to navigate the city. The new service allows users to request rides through the Bolt app, while also offering flexible income opportunities for local drivers, who can set their schedules independently. By increasing transportation options, Bolt’s entry is expected to help alleviate public transport demand, making shared mobility more accessible and offering an alternative to existing ride-hailing services.

Bolt’s mission emphasises reducing reliance on privately owned vehicles and addressing urban challenges such as congestion, air pollution, and limited public spaces. The company envisions integrating its platform into the urban transit network, encouraging the shift to shared mobility solutions that support a more sustainable urban environment.

Afzan Lutfi, General Manager of Bolt Malaysia, highlighted the company’s goal of building cities centred around people rather than cars. “In Malaysia, we’re committed to reducing traffic congestion and transforming public spaces by shifting from private car ownership to shared mobility,” he explained. “By providing affordable and low-emission mobility options, Bolt is not only supporting Malaysia’s urban mobility goals but also enhancing the quality of life in Klang Valley and beyond.”

As the demand for ride-hailing grows in Malaysia, Bolt’s app includes safety features and robust customer support to foster trust between riders and drivers, reinforcing a safe and reliable travel experience. Bolt’s launch marks a step towards shaping a more connected, accessible, and liveable future for Malaysia’s cities.

GOODYEAR is proud to be the official tyre sponsor of the Tokyo Auto Salon Kuala Lumpur 2024, happening from 8 – 10 November 2024 at MITEC, Kuala Lumpur. Known as the world’s premier customised car show, this event promises to showcase the latest in automotive technology, design, and more, drawing car enthusiasts from across the region.

Event Details

Date: 8 – 10 November 2024

Time: 10:00 am – 10:00 pm

Venue: MITEC, Kuala Lumpur

At the Goodyear booth, attendees can explore the latest in high-performance tyre technology and see how Goodyear is driving innovation in tyre performance and quality. This event offers automotive fans the perfect chance to engage with Goodyear and witness the exceptional standards that Goodyear tyres bring to every journey.

Don’t miss this exciting opportunity to connect with industry leaders and fellow car enthusiasts!

JAGUAR LAND ROVER’S (JLR) ambitious “Reimagine” strategy, announced nearly four years ago, is fast approaching a major milestone: transforming Jaguar into an all-electric luxury brand by 2025. While the company has not yet unveiled any new electric models, the transition away from combustion engines is in full swing. As of this November, Jaguar has officially stopped selling new cars with conventional powertrains in the UK.

In a recent statement, JLR confirmed the halt: “From November 2024, new Jaguar sales will come to an end. We have now ceased allocation of our current generation of Jaguar vehicles.” This decision means that models like the E-Pace, XE, XF, and F-Type—already phased out—are now joined by the F-Pace SUV, the final model of Jaguar’s internal combustion era in the UK.

While the F-Pace and other models are still available in some markets abroad, their production days are numbered. British customers, however, can still acquire certified pre-owned Jaguars. Notably, the F-Pace was Jaguar’s best-selling model in 2023, with 21,943 units sold globally—though this figure underscores the brand’s recent struggles in today’s competitive SUV market.

Looking ahead, Jaguar’s transformation will see it target an entirely new echelon of luxury. Instead of competing with BMW, Mercedes-Benz, and Audi, the brand is positioning itself against ultra-luxury names like Bentley and Aston Martin. The first model of Jaguar’s electric lineup will be a high-performance saloon, aimed at rivaling the Porsche Taycan, followed by an SUV set to compete with the Bentley Bentayga in 2026. Both models will be built on the Jaguar Electrified Architecture, with a flagship sedan expected later in the decade.

Meanwhile, Jaguar plans to debut a concept vehicle in the United States by year-end. This ultra-luxurious four-door grand tourer will lay the groundwork for a production model starting at over £100,000 (RM565,858). According to Jaguar’s Managing Director, Rawdon Glover, the transition to an electric-only brand has been “hugely frustrating,” yet the focus remains on moving into the ultra-luxury market with fewer, more profitable sales.

With the first new electric Jaguar not set to launch until 2026, the UK will see an unusual absence of new Jaguar vehicles over the coming year.

PORSCHE has expanded its 911 model lineup with the launch of the new 911 Carrera T, designed for driving purists seeking agility, reduced weight, and an immersive sound experience. This latest edition focuses on essentials, featuring a six-speed manual transmission and, for the first time, is available as both a coupé and a cabriolet.

Power and Precision

The Carrera T derives its power from Porsche’s 3.0-litre six-cylinder twin-turbo boxer engine, producing 394PS and 450Nm of torque. Equipped with the Sport Chrono Package as standard, the 911 Carrera T can sprint from 0-100 km/h in 4.5 seconds (4.7 seconds in the cabriolet) and reaches a top speed of 295km/h (293km/h for the cabriolet). Its lightweight design, aided by reduced insulation and full bucket seats, trims the weight down to 1,478 kilograms, making it over 40 kg lighter than the standard 911 Carrera.

Enhanced Handling and Chassis Dynamics

The Carrera T benefits from Porsche’s rear-axle steering as standard, allowing for sharper cornering and increased stability. Its adaptive sports suspension, lowered by 10 mm, is precisely tuned for a sportier ride, while anti-roll bars at the front and rear further improve handling. Fitted with 20/21-inch Carrera S light alloy wheels, the car is optimised for responsiveness.

Distinctive Styling

Exterior details, including accents in Vanadium Grey and a redesigned spoiler lip borrowed from the Carrera GTS, set the Carrera T apart. Colour choices span from Porsche’s unique Legends and Dreams palettes, along with bespoke options through Porsche’s Paint to Sample programme. Inside, the Carrera T features black trim, contrasting stitching, and a dashboard stopwatch from the Sport Chrono Package, evoking classic Porsche styling.

Interior Exclusivity

For added refinement, Porsche offers the Carrera T design package, introducing Gentian Blue accents across the car’s interior, seat belts, and headrests. The cabin’s sporty aesthetic is completed with a walnut gear knob and tartan-patterned seat centres, while the standard GT sports steering wheel includes a mode switch for added versatility. Seat choices include the standard four-way adjustable sports seats, with options for Adaptive Sports Seats Plus or lightweight full bucket seats.

By prioritising dynamic performance and offering unique customisation options, the new Porsche 911 Carrera T brings a distinctly purist experience for drivers, making it an ideal choice for those who value the essence of driving.

PROTON has unveiled its new S70 R3 race car for the upcoming 2024 Sepang 1000KM (S1K) endurance race, hosted at the Petronas Sepang International Circuit. This addition to Proton’s racing portfolio will compete with two cars, each driven by a pair of seasoned and promising drivers.

Driver Line-up

Car #81: Piloted by Syafiq Ali, a three-time S1K winner, and Fahrizal Hasan, known for his multiple victories in the Sepang 12 Hours endurance race.

Car #82: Driven by two emerging talents, Ariff Azmi, an 18-year-old karting and touring car champion, and Alister Yoong, a 21-year-old Formula 4 racer and son of former F1 driver Alex Yoong.

Spotlight on Alister Yoong

Alister Yoong brings an impressive racing background to Proton’s team:

– Winner of the 2022 Indian Racing League and current championship leader in 2024.

– Notched up four wins in the Italian Sports Prototype Championship (CISP) and two in the French Sports Prototype Championship.

– Head coach at Axle Academy, founded by his father, where he trains up-and-coming racers.

The Race Car: Proton S70 R3

The S70 R3 is equipped with a 1.6-litre naturally aspirated S4PH engine, engineered according to Malaysian Touring Car (MTC) regulations. The team has hinted at a potential expansion next year, considering entry into the Malaysian Championship Series’ SP2 class. This setup and driver mix signal a strong bid from Proton for the 2024 S1K endurance race.

TC SUBARU SDN. BHD., the exclusive distributor of Subaru vehicles in Malaysia, has announced its participation in this year’s Tokyo Auto Salon Kuala Lumpur, to be held at the Malaysian International Trade and Exhibition Centre (MITEC) from 8 to 10 November 2024. In an event at APW Bangsar, Subaru’s dealers, partners, media, and fans were treated to an exclusive preview of the “Kuala Lumpur Edition” Subaru BRZ and Subaru WRX, featuring a special livery by Motorsport Playground and a limited-edition streetwear line by Pestle & Mortar Clothing (PMC).

Inspired by a cultural fusion of Japanese engineering and Malaysian heritage, the livery created by Motorsport Playground brings an artistic twist to the Subaru BRZ and WRX. The design integrates Malaysia’s iconic Songket patterns with intricate geometric shapes and rich symbolism, transforming these high-performance vehicles into vibrant symbols of tradition and modernity. The livery also features the Malaysian national flower, Bunga Raya, in place of the usual Sakura motifs, infusing the design with local pride.

The collaborative project extends beyond the vehicles, with PMC unveiling an exclusive streetwear collection that mirrors this cultural blend. Each piece in the line embodies the precision of Japanese craftsmanship with contemporary Malaysian design, offering a unique style that resonates with both motorsport fans and fashion enthusiasts.

In a further showcase of performance, Subaru took on a thrilling time attack challenge at the PETRONAS Sepang International Circuit. The Subaru BRZ and WRX, under the expert preparation of TD Racing, completed the circuit with impressive times: the Subaru BRZ with manual transmission finished in 02:42:211, while the WRX with CVT clocked in at 02:43:472, driven by professional racer Freddie Ang.

Subaru’s presence at the Tokyo Auto Salon Kuala Lumpur will celebrate innovation, performance, and cultural fusion. The “Kuala Lumpur Edition” vehicles and PMC’s streetwear collection will be available for sale from 8 to 10 November 2024 at MITEC, offering fans a chance to own a piece of this unique collaboration.

Hyundai Rotem, a subsidiary of South Korea’s Hyundai Group, has announced a pioneering development for the Republic of Korea (ROK) Army: a hydrogen-powered K3 main battle tank. Set to be among the most advanced military vehicles in the world, the K3 aims to redefine future warfare by leveraging eco-friendly fuel cells, autonomous technologies, and advanced firepower.

Hyundai Rotem’s K3 project is a collaborative effort with South Korea’s Agency for Defence Development and other national research institutions, with production tentatively scheduled to begin by 2040. The shift to hydrogen marks a historic step in South Korea’s commitment to reduce reliance on traditional combustion engines in defence equipment. The K3’s hydrogen fuel cell will eventually replace the diesel engines of the ROK’s K-series tanks, beginning with hybrid prototypes that combine hydrogen and diesel power.

In an online statement, Hyundai Rotem described the K3 as “a next-generation main battle tank that surpasses all capabilities of today’s MBTs (main battle tanks), optimised for evolving battlefield demands.” Key enhancements to the K3 include autonomous driving, AI-based fire control, and a 130-mm smoothbore main gun for increased preemptive strike capabilities. Additionally, the tank will feature improved stealth capabilities, a reduced heat signature, and the deployment of slave drones to enhance reconnaissance and support combat operations.

Fuel cell technology offers multiple advantages, including quieter operation, faster acceleration, superior fuel efficiency, and reduced maintenance due to fewer moving parts. With minimal heat output and sound, the tank achieves heightened stealth, making it less detectable in combat scenarios. Mobility is also improved, allowing the K3 to maneuver through steep and rugged terrains more effectively.

Designed to operate with a streamlined crew of three—a driver, commander, and gunner—the crew will be secured within a reinforced armoured capsule at the front of the tank. This layout ensures enhanced protection and operational efficiency.

The hydrogen-powered K3 demonstrates South Korea’s commitment to integrating sustainable, high-performance technologies into its military arsenal, setting a benchmark for modern warfare with cleaner and more capable military assets.

Volkswagen Group is seeking significant cost reductions as it faces declining demand, rising expenses, and mounting competition. The automaker has proposed a 10 per cent wage reduction for its union employees after IG Metall, the union representing Volkswagen’s workforce, requested a seven per cent raise. This wage cut comes as part of broader measures Volkswagen is considering to address financial difficulties, which include restructuring bonuses and possibly eliminating anniversary and monthly bonuses.

Despite these proposed changes, Volkswagen’s CEO Thomas Schafer has not ruled out more drastic options, such as plant closures, if cost-cutting goals are not met through negotiations. “Successful operations are a prerequisite for job security,” said Arne Meiswinkel, VW’s lead negotiator, highlighting the necessity for lower labour costs to stabilise the company.

Volkswagen reported a steep 42 per cent drop in third-quarter operating profits, and its core brand posted only a two per cent operating margin through September. According to CFO and COO Arno Antlitz, this underscores the need for “significant cost reductions and efficiency gains” to sustain the company’s operations.

Rumours of potential plant closures in Germany have circulated as the company confronts inefficiencies across several domestic sites. Schafer remarked that the issues cannot be resolved by “simple cost-cutting measures,” indicating deeper structural challenges within the automaker’s German manufacturing operations.

Volkswagen and IG Metall will resume negotiations on November 21.

KUALA LUMPUR: Sabah-based beverage manufacturer Life Water Bhd’s new manufacturing plant in Keningau, set to begin operations by December, is projected to increase the company’s annual production capacity to 448 million litres of drinking water, with plans to double this output by 2027.

Managing director Liaw Hen Kong said, in addition, the Kota Kinabalu Industrial Zone 8 Plant 2, planned for completion in 2027, will support the company’s transition to more advanced manufacturing processes, including relocating existing lines and expanding plastic packaging capabilities.

“These investments and expansion reflect our confidence in the market and our ambition to meet future demand. We are not just expanding capacity. We are laying the foundation for a sustainable future by integrating advanced warehousing systems and leveraging modern technologies.

“Beyond manufacturing, we are also exploring new market opportunities in Sarawak and Brunei. Our goal is to replicate our success in Sabah by bringing the same commitment to quality and customer service to new markets,” he said at Life Water’s listing on Bursa Malaysia’s Main Market today.

He said Life Water has strong logistics and distribution capabilities, with a fleet of 75 trucks, ensuring that beverages are delivered efficiently to over 3,250 retail outlets, 520 food service outlets, 150 wholesalers and 100 hotels across Sabah.

“Additionally, with distribution centres in Sandakan, Lahad Datu, Kota Kinabalu and soon in Tawau, we are well-positioned to expand our reach and serve our growing customer base.

“This strategic network supports our goal of making our products accessible to consumers everywhere,” he said.

Liaw said over the past three years, Life Water achieved a compounded annual growth rate of 17.2%, with total revenue rising from RM103.5 million in 2021 to RM166.5 million in 2024.

Similarly, Life Water’s customer base grew from 2,815 to 3,460 customers, highlighting the steady expansion of the company’s footprint in the region.

Liaw said the implementation of the sugar tax announced in Budget 2025 will not affect the carbonated beverages manufactured by Life Water.

He explained that the sugar content in Life Water’s carbonated drinks is below 5g per 100 millilitres (ml). “Our recipe (for the carbonated drinks) is below the threshold of 5g per 100 ml. So we are not affected by the sugar tax.”

Life Water opened at 77 sen in its market debut, a 12 sen or 18.5% premium from the initial public offering price (IPO) of 65 sen. It closed at 94 sen, 29 sen or 44.6% above the IPO price on volume of 233.4 million shares.

The company raised RM63.42 million through a public issuance of 97.56 million new ordinary shares, priced at RM0.65 each.

From the total proceeds, Life Water has allocated 30.0% or RM19 million to set-up an additional drinking water production line at its Sandakan Sibuga Plant 1, 18.9% or RM12.0 million for purchasing a new drinking water manufacturing line at Sandakan Sibuga Plant 2, and 19.9% or RM12.6 million will go toward setting up a second distribution centre in Sandakan.

Furthermore, 15.2% or RM9.6 million is designated for expanding the existing plastic packaging facilities in Kota Kinabalu.

The remaining proceeds of 6.6% and 9.5% or RM4.2 million and RM6 million, respectively, are allocated for working capital and to defray listing expenses.

Holding an 11% share of Malaysia’s bottled water market, the company is also putting focus on automating key manufacturing processes to boost efficiency, reduce wastage, and ensure quality consistency.

The company’s shares are classified as syariah-compliant by the Shariah Advisory Council of the Securities Commission Malaysia.

The company’s public issue portion, made available to the Malaysian public via balloting, was oversubscribed by 32.2 times.

MIDF Amanah Investment Bank Bhd is the principal adviser, underwriter and placement agent for Life Water Bhd’s IPO exercise.

PETALING JAYA: The Cisco 2024 AI Readiness Index revealed that only 14% of organisations in Malaysia are fully prepared to deploy and leverage artificial intelligence-powered technologies, up slightly from 13% a year ago.

This underscores the challenges companies face in adopting, deploying, and fully leveraging AI. Given the rapid market evolution and the significant impact AI is anticipated to have on business operations, this readiness gap is especially critical.

The Index is based on a double-blind survey of 3,660 senior business leaders from organisations with 500 or more employees across 14 markets in Asia-Pacific, Japan, and China (APJC). These leaders are responsible for AI integration and deployment within their organisations. The AI readiness index is measured across six pillars – strategy, infrastructure, data, governance, talent, and culture.

AI has become a cornerstone for business strategy, and there is increasing urgency among companies to adopt and deploy AI technologies. In Malaysia, 98% of companies report an increased urgency to deploy AI in the past year, driven primarily by the CEO and leadership team. Additionally, companies are committing a significant amount of resources towards AI, with 55% reporting that as much as 10% to 30% of their information technology (IT) budget is being allocated to AI deployment.

Despite significant AI investments in strategic areas such as cybersecurity, IT infrastructure, and data analytics and management, many companies report that returns on these investments are not meeting their expectations.

“As companies accelerate their AI journeys, it’s critical they adopt a comprehensive approach to implementation and connect the dots to link AI ambition with readiness,” said Cisco Malaysia managing director Hana Raja.

“This year's AI Readiness Index reveals that to fully leverage the potential of AI, companies need a modern digital infrastructure capable of meeting evolving power needs and network latency requirements from growing AI workloads. This must be supported with the right visibility to achieve their business objectives.”

Anupam Trehan, vice-president, people and communities APJC, at Cisco, said: “As the race to adopt AI picks up pace, talent will be a key differentiator for companies. There is already a shortage of skilled talent across various aspects of AI. This means companies will need to invest in their existing talent pool to meet the growing demand. At the same time, it is crucial that all stakeholders – the private and public sectors, educational institutions, and governments – work together to develop local talent so that the entire ecosystem can benefit from the immense potential that AI offers.”

PETALING JAYA: The latest AHK World Business Outlook Fall 2024 Survey conducted among German companies in Malaysia reveals an optimistic forecast for 2025, with positive sentiment about both current conditions and prospects.

The survey highlights key insights reflecting the resilience and growth expectations of German businesses operating in Malaysia.

When asked to assess the current performance of their company, 92% of German businesses in Malaysia report conditions as “good or satisfactory”, which marks a significant increase of 10% compared to the same period last year.

Strong economic development and confidence among German businesses in Malaysia are expected to continue into next year, with 97% of respondents describing the outlook for 2025 as “favourable or stable”.

While Malaysia has always been recognised for its strong economic foundation, this year’s survey results demonstrate a significant boost in confidence, surpassing expectations from last year’s outlook and highlighting the continued resilience of Malaysia’s economy.

Reflecting this confidence, more than 63% of companies expect positive business development over the next 12 months, while 35% anticipate the current stability will be maintained. Only 1.8% predict a decline in performance, showcasing a predominantly positive outlook for the year ahead.

Additionally, four in 10 companies intend to increase investments in the coming year, suggesting a commitment to further growth within the business community.

Employment plans also appear to be promising, with almost half of the German companies in Malaysia indicating plans to ramp up hiring. An equal percentage (47%) intend to retain their current workforce, emphasising a dual approach to growth and stability in human resources.

While the survey paints a generally encouraging outlook for businesses in Malaysia, respondents identified several challenges that could potentially impact their economic development in the coming years.

Survey participants view demand, economic policy conditions, and lack of skilled workers as potential challenges. These insights underscore the need for ongoing vigilance and strategic planning as companies navigate both opportunities and uncertainties in a highly competitive and volatile global market.

Overall, the findings of the survey illustrate a strong confidence among companies in Malaysia, highlighting a positive trajectory for business development and economic growth in the coming year.

Malaysian-German Chamber of Commerce and Industry (MGCC) executive director Jan Noether said, “The results of the AHK World Business Outlook Fall 2024 Survey align perfectly with our expectations for the future of German business in Malaysia. The strong sentiment and optimism reflected in the survey highlight the positive situation we are experiencing here and underscore our confidence in Malaysia’s economic stability and growth prospects. German companies are comfortable and committed to the Malaysian market, with a clear outlook for continued success and expansion in the year ahead. Moreover, Malaysia’s stable economic environment and supportive policies play a key role in stimulating further investment, reinforcing our belief in the country as a reliable and attractive hub for business growth.”

In Malaysia, the survey was conducted between Sept 23 and Oct 16, with 111 respondents from MGCC member companies, comprising mostly German companies with branches or subsidiaries in Malaysia, primarily from the manufacturing, trade, and services sectors.

The survey is part of the broader AHK World Business Outlook, a biannual global research initiative conducted by the German Chamber of Commerce and Industry. It surveys member companies from the network of German chambers of commerce abroad (AHK), which represent more than 40,000 companies in 93 countries.

KUALA LUMPUR: Malaysia’s cross-border renewable energy auction for Singapore’s energy importer, under Energy Exchange Malaysia (ENEGEM), will begin by year-end, Deputy Prime Minister Datuk Seri Fadillah Yusof said.

He explained that, through efforts to integrate regional power grids, the country aims to strengthen energy security across ASEAN member states.

“Further to the regional integrated grid, it can also serve as an economic catalyst in fostering regional cooperation through cross-border renewable energy trade.

“By sharing excess energy, the country can reduce reliance on fossil fuels while building an integrated ASEAN energy infrastructure,” he said in his opening address at the 2nd Sustainability Environment Asia (SEA) 2024.

Fadillah, who is also the Energy Transition and Water Transformation (PETRA) Minister, confirmed that coal-fired generation will be gradually phased out, with no new coal power plants to be established.

He cited the International Energy Agency’s clear stance that reducing coal dependency is crucial to limiting global warming and stressed Malaysia’s commitment to this objective.

“We will continue to enhance grid flexibility by investing in and developing smart grids, digitising the power system, and expanding energy storage systems.

“By 2035, we aim to increase grid flexibility by 20%, enabling greater integration of renewable energy sources,” he added.

Under the National Energy Transition Roadmap, the government aims to raise renewable energy’s contribution to Malaysia’s installed power capacity to 70% by 2050, up from the current 28%.

Meanwhile, he outlined plans to restructure Malaysia’s water services over the next decade in collaboration with the National Water Services Commission (SPAN) and the Malaysian Water Association.

“As of 2023, 97.1% of urban and rural areas had access to water supply, while sewerage services covered 86.9% of major cities.

“Malaysia aims for 98% rural clean water coverage and a 31% non-revenue water rate by 2025 through Integrated Water Resource Management (IWRM),” he said.

Malaysia remains committed to fostering a healthy environment, driving economic prosperity, and improving the quality of life for its people and future generations.

As the country strives toward its net zero carbon goal by 2050, it is vital to capitalise on every opportunity to navigate a sustainable transformation and embrace a circular economy.

“I invite businesses to partner with the government and explore all options for collaboration,” he added.

KUALA LUMPUR: A group of planters and stakeholders in the East West One Group (EWOG) schemes urgently calls on Pacific Trustees Bhd (PTB) to release the funds necessary for the company’s approved rehabilitation and restructuring (R&R) exercise.

The majority of EWOG’s investors, represented by Thirunavukarasu Illamurugan, Yong Chin Koi, and Mahadevan Kathirgamathamby, are concerned that PTB’s continued withholding of these funds could further damage the company’s financial health, potentially leading to irreversible losses.

To recap, EWOG obtained planters’ approval of the company’s R&R exercise across all three schemes: East West One Planter’s Scheme (EWOP), East West Horizon Planter’s Scheme, and East-West Planter Scheme 1.

EWOG, in a statement, said the past few years have seen significant challenges that have severely impacted plantation operations, including the global Covid-19 pandemic, La Niña weather phenomena, industry-wide labour shortages, land disputes with landowners, and repeated injunctions that prevented timely convening of planters’ meetings from addressing these issues.

These cumulative challenges have compounded the company’s cash flow problems, resulting in an inability to meet payment obligations.

According to a statement by EWOG, despite the overwhelming support for the R&R plan from planters and stakeholders at the August 12 Planters’ Meeting, critical rehabilitation work on EWOG’s plantation assets remains stalled due to this delay.

For over a year, the plantation palms have relied solely on natural soil fertility, with no structured fertilisation or agronomic practices.

Prompt initiation of the R&R program is essential to restoring the plantation’s productivity.

This program leverages enhanced agronomic practices and inputs to increase fresh fruit bunch (FFB) production.

With crude palm oil (CPO) prices currently above RM4,000 per ton and projected to hold through 2025, the company has a unique window to capitalise on these favourable market conditions.

Proceeds from FFB sales could also partially offset ongoing rehabilitation costs, creating a sustainable pathway to recovery.

“Every day of delay further impacts our ability to restore the plantation and diminishes potential returns for all investors,” said Thirunavukarasu in the statement.

“These funds, specifically held in trust for the plantation’s rehabilitation, need to be released without further delay,“ he said in the statement.

According to a recent court filing by East West Horizon Plantation Bhd, the management continues to face challenges due to PTB’s reluctance to finalise necessary trust deeds despite ongoing efforts from EWOG’s management and legal team.

This impasse prevents the release of funds crucial for the R&R efforts, posing increased risks to the plantation assets and investor returns.

The investors’ representatives stressed that “a swift resolution is essential to launch the rehabilitation efforts and generate returns for all stakeholders.”

“It is time to move past the standstill and allow the EWOG group to implement the R&R plan for the benefit of all involved.”

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim’s official visit to Egypt has bolstered Malaysia-Egypt bilateral relations, unlocking RM4.8 billion (US$1.1 billion) in potential export opportunities for Malaysia, according to the Ministry of Investment, Trade and Industry (MITI).

MITI stated that this export potential was largely generated through a roundtable meeting attended by 60 industry and business leaders from 47 Egyptian firms and key business associations, as well as 40 representatives from 20 Malaysian companies.

“During the session, productive discussions between Malaysian and Egyptian companies identified export potential worth RM4.8 billion (US$1.1 billion), particularly in high-value sectors such as automotive, chemicals, oleochemicals and renewable energy,” MITI said in a statement.

Egyptian companies also expressed interest in investment opportunities in Malaysia, particularly in medical devices and pharmaceuticals, MITI added.

The official visit took place from Nov 10-12, 2024.

In a bilateral meeting during the visit, MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz and Egypt’s Minister of Investment and International Trade Hassan El Khatib agreed to reactivate the Malaysia-Egypt Joint Trade and Investment Committee (JTIC).

Malaysia will host the second JTIC Meeting in early 2025, focusing on collaboration in the semiconductor sector, renewable energy, the halal industry and digital transformation.

The two ministers further agreed that Malaysia’s Investment Development Board (MIDA) and Egypt’s General Authority for Investment and Free Zones (GAFI) should sign a memorandum of understanding to enhance bilateral investment relations.

To support Malaysian exporters’ access to North African and Arab markets, MITI noted that Malaysia’s trade office in Cairo, managed by the Malaysia External Trade Development Corporation (MATRADE), was upgraded in January 2024, offering improved market access and export support services.

Meanwhile, national carmaker Proton has expanded into the Egyptian market with a local assembly plant.

Assembly activities began with the first delivery of Proton’s completely knocked down (CKD) vehicles in September 2024, and sales are expected to start in January 2025, with a target of 16,000 units for the period 2024–2026, MITI reported.

Bilateral trade between Malaysia and Egypt from January to September 2024 rose 21.4% year-on-year to RM3.0 billion (US$648 million), compared to RM2.4 billion (US$545.5 million) in the same period last year.

Egypt was Malaysia’s fifth-largest trading partner in Africa in 2023.

Tengku Zafrul said MITI is confident this bilateral relationship will continue to grow, positively impacting the economy and supporting the objectives of the New Malaysian Industrial Master Plan (NIMP) by 2030.

“MITI and its agencies will take prompt follow-up action to ensure that all agreed initiatives are implemented efficiently,” he added.

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar today despite the US Dollar Index’s (DXY) strengthening, which should accelerate demand for the greenback.

At 8 am, the local note traded slightly better at 4.4330/4465 against the greenback compared with Tuesday’s close of 4.4365/4400.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said higher demand for the US dollar is expected as comments from US Federal Reserve (Fed) officials indicated that the prospect of an interest rate cut highly depends on upcoming economic data.

“Minneapolis Fed president Neel Kashkari suggested that he will look at the upcoming inflation data before making any decision on the interest rate.

“As such, ringgit and other emerging market currencies will likely stay weak in the near term,” Mohd Afzanizam told Bernama.

He added investors will monitor the US Consumer Price Index (CPI) print tonight, with consensus pencilling in a 2.6 per cent rise in October from 2.4 per cent previously, while Core CPI may be sustained at 3.3 per cent.

At the opening, the ringgit traded higher against a basket of major currencies.

It was higher against the British pound at 5.6463/6635 from 5.6889/6934 at Tuesday’s close, better against the euro to 4.7061/7204 from 4.7111/7148 and firmer against the Japanese yen to 2.8661/8752 from 2.8788/8812.

The ringgit also traded higher against ASEAN currencies.

Against the Thai baht, it rose to 12.7162/7637 from 12.7456/7608 at Tuesday’s close and strengthened against the Singapore dollar at 3.3107/3210 from 3.3143/3174.

The local unit marginally increased vis-a-vis the Philippine peso to 7.53/7.56 from 7.54/7.55 and was slightly higher against the Indonesian rupiah to 280.8/281.9 from 281.0/281.5 previously.

KUALA LUMPUR: The shift towards subscription-based services is gaining traction in Malaysia, aligning with a broader global trend that redefines how consumers access products.

This model provides an appealing option for many Malaysians, particularly young families and newlyweds, who face rising living costs.

Offering high-quality appliances on a subscription basis eases the financial burden of ownership, allowing consumers to enjoy premium products without the pressure of a large upfront investment.

One notable brand offering subscription-based home appliance services is the South Korean brand, LG.

LG Malaysia product director of subscription business Hojin Jung said the introduction of the LG Rent Up Subscription in Malaysia is a natural progression of the company’s commitment to providing innovative and accessible solutions tailored to the evolving needs of modern consumers.

“LG Rent Up Subscription is inspired by our success with subscription models in South Korea, where we saw significant growth, driven by increasing demand for convenience and affordability.

“Recognising similar trends here, we noticed a growing interest in flexible ownership models in Malaysia, spurred by the need for more cost-effective solutions amidst rising living expenses and fuelled by shifting consumer preferences.

“Since its launch in March 2024, the market response has been encouraging. We have seen growing inquiries from customers who have signed up for our water purifier subscription model and are now exploring subscriptions for other high-demand appliances such as refrigerators, washing machines and TVs.

“This shift highlights a changing mindset in how Malaysians approach home appliance ownership – especially among younger, urban consumers who prioritise access over ownership, seeking premium products without the upfront financial commitment,” Hojin told SunBiz.

He said urbanisation and the desire for more sustainable, convenience-focused living have made subscription services an attractive option.

“By offering top-tier technology on a subscription basis, we make high-end living more accessible while emphasising affordability and environmental responsibility. LG’s Rent Up Subscription model meets Malaysians’ evolving needs, allowing them to enjoy premium technology without the burden of ownership,” he said.

Hojin said the subscription model is gaining popularity among young Malaysians, especially urban professionals and families facing high living costs and limited space.

This trend, he said, reflects a growing shift toward a ‘sharing economy,‘ where access to energy-efficient appliances without the financial strain of ownership is valued.

LG Rent Up Subscription’s launch saw a strong uptake in Kuala Lumpur and major cities, where 40% of tech-savvy millennials prefer renting to stay updated with technology affordably.

Elaborating on the model further, Hojin said that although subscription services share similarities across markets, the Malaysian context has distinct differences.

“In South Korea, for example, the rental model for water purifiers is well-established, with over 70% market penetration. Malaysia, meanwhile, is still in its early phase, but consumer awareness is rising quickly. Moreover, this trend is not isolated to Malaysia. LG is actively preparing to introduce the subscription model in other markets, including Taiwan and Thailand, by year-end.”

Touching on the vision for LG Rent Up in Malaysia, Hojin said the LG Rent Up Subscription is just the beginning of a transformative journey in how it engages with consumers in Malaysia.

“As we look ahead, we plan to expand our subscription offerings to include a wider array of smart home appliances and electronics, reflecting the growing demand for connected living solutions.

“Our vision for LG Rent Up Subscription is to enhance the customer experience by offering seamless integration with our LG ThinQ technology, which already empowers our appliances to be more intuitive and user-friendly. This will allow our customers to enjoy a smart, responsive lifestyle, further elevating the convenience and efficiency of their homes,” he explained.

Hojin said that as the subscription economy continues to evolve, particularly among tech-savvy and environmentally conscious consumers, LG Rent Up Subscription aims to play a pivotal role in making premium technology more accessible.

“Our ultimate goal is to foster a circular economy model in which subscribing to high-quality appliances reduces the financial burden on consumers and contributes to sustainability by extending product lifecycles and minimising waste.

“The more we enhance our subscription model, the more committed we are to making innovative technology more attainable. We ultimately aim to enrich the lives of our customers while promoting responsible consumption and environmental stewardship,” Hojin said.

KUALA LUMPUR: Malaysia’s goal of reaching 50% electric vehicle (EV) adoption by 2040 and 80% by 2050 in terms of total industry volume (TIV) is within reach, according to Deputy Investment, Trade, and Industry Minister Liew Chin Tong.

Liew said that the target – in accordance with the National Energy Transition Roadmap – aligns with the global shift towards sustainable transport.

“According to the International Energy Agency in the Global EV Outlook, globally in 2018, only 2% of total global sales was from EV, but by 2022, it was 14%, and by 2023, 18% of total global sales of cars comes from electric vehicles. In China this year, there were several months that EV overtook internal combustion cars, ICE cars. So these are all possible,” he told reporters at E-Mobility Asia 2024 (EMA 2024) today.

To achieve the target, Liew said that Malaysia needs to work together to develop a national effort to electrify its vehicles as much as possible.

He added that this is necessary to reduce national oil consumption and create more opportunities for various forms of manufacturing, including crossings of semiconductor and automotive industries.

Additionally, he said that the government is hoping that Malaysia will not just manufacture parts of the cars, but it is hoping that there will be horizontal crossing between the automotive industry and the semiconductor industry.

“So that one day, we are also known for designing chips for the automotive industry. That is one of our aspirations,” he remarked.

Liew said that another aspiration is to take advantage of the electrification of mobility, so that through this transition, Malaysia can reduce its overall national petroleum consumption.

“In most of our discussions, we are talking about shifting the burden of who pays for the petroleum consumption in this country. To address the question of the RON95 subsidy, I think E-Mobility has a big role to play. Electrification has a big role to play,” he added.

The event, EMA 2024 unveils electromobility and sustainable solutions as the way forward to reduce global emissions and tackle climate change.

China’s electric car manufacturers BYD, Chery and GWM are showcasing their latest models at the event, while Malaysia’s Eclimo is unveiling its new bikes.

EMA 2024 comes as EV demand surges in Southeast Asia and amid the global outlook that more than one in four vehicles on the road will be electric by 2035 according to the International Energy Agency.

Liew officiated the opening of the event that has drawn stakeholder and industry support including the state-owned Malaysia Automotive, Robotics & IoT Institute, and Electric Vehicle Association of Malaysia as strategic partners.

KUALA LUMPUR: As the takaful industry contends with escalating medical inflation and the rising costs of healthcare, the Malaysian Takaful Association (MTA) has called for increased government and private sector collaboration to ensure affordable, accessible protection options for all Malaysians.

MTA CEO Mohd Radzuan Mohamed envisions takaful becoming a leading option for Malaysians seeking protection.

With only 60% of the population currently insured or covered by takaful, he sees untapped potential among the remaining 40%, primarily in underserved and unserved communities.

“Our goal is to make takaful an accessible option, particularly for groups like the BM40 (top 20% of B40 and bottom 40% M40), who often do not receive enough attention from traditional agents,” he told SunBiz at the recent launch of Hijrah27.

Radzuan said the takaful sector has struggled to expand its market share, currently at about 20% after four decades.

In response, he said, they are considering how digital transformation, distribution enhancements and technology can address these challenges.

“Malaysia’s transformation plan and recent initiatives, like the financial sector blueprint, outline steps to close this gap by focusing on underserved communities, leveraging financial literacy campaigns, and engaging technology to make takaful accessible,” he added.

Additionally, he said co-payments, a shared cost model between the insurer and the insured, is seen as a potential solution to rising premiums fuelled by medical inflation.

“Collaborating with the Ministry of Health and Bank Negara Malaysia, takaful providers aim to develop cost-sharing models that help balance affordability and coverage. With co-payments, premiums could become more manageable, helping to mitigate the effects of medical inflation and making Takaful accessible for more people.”
While the adoption of co-payments is currently optional, Radzuan said, making it mandatory could have far-reaching implications on the takaful industry. “A balanced co-payment structure can be beneficial, but affordability must remain a priority to avoid defeating the purpose of protection,” he emphasised.

Looking forward, Radzuan said the association is exploring new technology-driven initiatives, such as the Hijrah27 framework, to improve customer service and operational efficiency. “Collaborations with fintech firms and the rise of AI-based solutions also show promise in elevating the industry’s standards and expanding reach,” he added.

KUALA LUMPUR: Bursa Malaysia Bhd is experiencing a resurgence in IPOs as 2024 draws to a close, reflecting renewed investor confidence in the local bourse.

With 44 initial public offerings to date, Bursa Malaysia has outpaced other markets in Southeast Asia, emerging as an attractive IPO destination amid a stable economic and political landscape.

According to Mohd Sedek Jantan, UOB Kay Hian Wealth Advisors’ head of investment research, several factors have contributed to this surge. “The risk of doing business in the fourth quarter has subsided as major economic and political uncertainties have passed, such as the US presidential election while Malaysia’s active role in international forums has bolstered the country’s global standing,” he told Bernama.

He reckons that Malaysia’s stable economic indicators, including positive trade figures, healthy employment rates and steady industrial production have fostered a predictable business environment that encourages IPO activity. “Political stability and a clear government policy framework further enhance investor confidence,” he said.

The surge in IPOs on Bursa Malaysia underscores the local bourse’s resilience compared to other regional markets.

Mohd Sedek noted that Malaysia has recorded 36 IPOs so far this year, raising about US$450 million in the first half alone, which accounts for 33% of Southeast Asia’s total IPO proceeds.

“This stands in contrast to a subdued IPO market across the Asia-Pacific, where proceeds have dropped by 63%, largely due to challenges in China and Hong Kong.

“Malaysia has outperformed both Indonesia and Singapore in IPO activity this year,” he pointed out, highlighting that Indonesia faces political uncertainty following its recent presidential election, while Singapore has seen a slowdown in activity due to high regulatory costs and weak investor demand.

In contrast, he said Malaysia’s IPO market benefits from a stable macroeconomic backdrop, business-friendly regulations, and the supportive Madani Economy Framework.

Mohd Sedek said the growth in IPOs reflects optimism in key Malaysian sectors, with recent listings from the construction, manufacturing, and healthcare industries.

He said in the construction sector, which expanded by 22.9% in the third quarter, private and public investments in residential, non-residential, and large-scale infrastructure projects are expected to drive further growth. “Key government initiatives, such as RM9 billion for private finance initiatives and RM25.5 billion from government-linked investment companies are expected to sustain this momentum,” he added.

In the manufacturing sector, Malaysia’s transformation under the New Industrial Master Plan 2030 aims to drive growth in high-value, technology-driven industries. “The government’s focus on digitalisation, green technology, and advanced manufacturing techniques is expected to attract further investments, solidifying Malaysia’s position as a competitive manufacturing hub in Asean,” he said.

Malaysia’s healthcare sector is also expanding due to demographic shifts and rising health awareness. The integration of technology, such as telemedicine and digital health solutions, is anticipated to boost the sector’s growth by improving care accessibility and efficiency. “This trend, coupled with government support for medical tourism, positions Malaysia as a key player in the healthcare industry in the region,” Mohd Sedek said.

Bursa Malaysia CEO Datuk Muhamad Umar Swift expressed satisfaction with the IPO momentum, noting that three Main Market IPOs were listed this week alone.

“This surge reflects a thriving capital market with strong regulatory support and a diverse investor pool. Malaysia has experienced a bull run, making us the Asean exchange with the highest number of IPOs to date this year,” he said.

Echoing this sentiment, the exchange regulator’s chairman Tan Sri Abdul Wahid Omar highlighted the significance of Monday’s listings, which took place on the auspicious date of 11.11. (Nov 11)

“Both companies chose that date for its auspicious nature, marking a rare occasion of two listings on the same day. The last time Bursa hosted two listings on a single day was in November 2017, following the demerger of Sime Darby Group, which saw both Sime Darby Plantation Bhd and Sime Darby Property Bhd debut together,” he said.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the strong IPO pipeline signals positive prospects for the Malaysian economy, as stable policies and a clear path towards becoming a high-income nation attract investor interest.

“Malaysia’s equities are undervalued, offering upside potential. The economic and policy stability enhances investor confidence, while companies’ growth trajectories inspire optimism for the market’s future,” he said.

Mohd Afzanizam said that as Bursa Malaysia continues to attract IPOs, he expects the exchange’s momentum to inspire small and medium enterprises to pursue similar growth opportunities. “The record-setting IPO activity underscores Malaysia’s resilience and strong capital market position in Asean, providing a positive outlook for 2025,” he added. – Bernama

BATU KAWAN: US-based medical devices company Dexcom Inc has officially opened its manufacturing facility, also its first offshore manufacturing site outside the United States, in Batu Kawan, Penang.

Penang Chief Minister Chow Kon Yeow said the RM2.83 billion strategic investment will bring more than 3,000 jobs to the state, contributing to a workforce set to positively impact the lives of over three million people worldwide.

Dexcom, founded in 1999, is a global leader in continuous glucose Monitoring (CGM) technology for individuals living with diabetes.

“The establishment of this new facility highlights Dexcom’s continued commitment to take control of health through innovative CGM systems. It also reaffirms Penang’s reputation as a global hub for advanced technological industries, reinforcing its position as a preferred destination for high-quality manufacturing and innovation,” the chief minister said in his speech at the opening ceremony here today.

Chow said Penang is on the right path towards becoming the medical technology (medtech) hub of Southeast Asia by leveraging on the state’s over 50 years of industry excellence.

“Housing the largest number of medtech companies nationally and regionally, Penang remains a highly attractive location for its infrastructure availability and ecosystem that meet the needs of the medtech industry.

“For the past five years (2019-2023), Penang garnered a total of RM5.8 billion worth of investments in the scientific and measuring equipment sector, representing 45% of the nation’s total investments in this sector, involving 33 projects and generating an estimated 4,630 employment opportunities,” he said.

Dubbed the Silicon Valley of the East, Penang has the highest concentration of medical technology companies in Malaysia and Southeast Asia to date. – Bernama

CYBERJAYA: Pure play enterprise Internet of Things (IoT) solutions provider SMRT Holdings Bhd (SHB) posted a net profit of RM7.04 million for the first quarter (Q1) ended September 30, 2024, an increase of 0.82% from RM6.99 million posted in the same quarter last year.

The increase was due to a higher-margin revenue mix, realisations of economies of scale from the higher number of managed sites and reduced administrative expenses.

Revenue for Q1 decreased 10.4% to RM16.5 million compared to RM18.42 million posted in Q1 last year.

SHB group managing director Maha Palan said the company’s key markets in Malaysia and Indonesia continue to show growth trajectory.

“Our previous strategic entry into the Philippines’ financial services sector has laid the foundation for further growth, and we are now actively exploring new opportunities in the country,“ he said.

On the venture into new verticals, Palan said the group’s IoT deployments for the water utility sector are delivering positive results and will tangibly contribute to results in this financial year.

Meanwhile, SHB has appointed Au Wong Lian (Kit) as its new group CEO, effective November 8, 2024.

Au brings over 30 years of experience in the technology and telecommunications industries, during which he has held leadership positions in various leading companies, including TimeDotCom and Microsoft Malaysia.

“Given Au’s extensive experience, deep domain expertise, and proven track record in driving growth and profitability, I am confident he will help lead SHB to the next level.

“More importantly, there is a strong alignment in corporate culture and core values between Au and our team, ensuring a smooth integration that will support our shared vision of leading the provision of IoT services across the Asean region,“ Palan said.

KUALA LUMPUR: Integrated palm oil milling services provider Ecoscience International Bhd (EIB), via its wholly-owned subsidiary Ecoscience Manufacturing & Engineering Sdn Bhd, has accepted a letter of award (LoA) for a RM200 million engineering, procurement, and construction (EPC) contract from renewable energy company, Wilhelmina Energy Malaysia Sdn Bhd (WEMSB).

Under the LOA, EIB will provide comprehensive EPC services for the TG2 black pellet plant in Kuantan, Pahang.

These services will include design and engineering, sourcing and quality assurance of equipment and materials, plant infrastructure construction, and testing and start-up activities to support commissioning and ensure operational standards are met.

The specific terms and conditions of the EPC works will be outlined in a binding EPC agreement, which is expected by November 30, 2024.

The LoA was built upon the collaboration agreement (CA) with WEMSB in March 2024, aimed at transforming agricultural waste into sustainable energy, thereby reducing coal consumption and carbon emissions.

EIB managing director Wong Choi Ong expressed confidence in delivering a robust waste-to-energy solution that aligns with WEMSB’s vision for sustainable energy transformation.

“This project is a strategic fit for our expansion into environmental and energy efficiency sectors, building on our core strengths in constructing palm oil mills, supporting facilities, and equipment fabrication.

“As the largest project to be undertaken in our corporate history, we see this as a valuable opportunity to broaden our customer base, enhance our project portfolio, and strengthen our market position.

“The LoA will significantly boost our order book, providing our group with healthy earnings visibility over the next two years,“ he said.

The TG2 black pellet plant will convert oil palm empty fruit bunch (EFB) waste into TG2 black pellets – a drop-in coal replacement fuel.

TG2 black pellets are an advanced type of biofuel pellet, providing benefits over traditional biomass pellets, including enhanced grindability, water resistance, and higher energy density.

As a drop-in fuel, it is renewable and can be used in existing pulverised coal power plants without requiring significant infrastructure modifications.

EIB will continue supporting WEMSB as it expands TG2 black pellet plants across the region.

“Beyond the EPC scope for the TG2 black pellet plant, the CA signed in March 2024 also outlined the possibility of WEMSB outsourcing the plant’s operation and maintenance (O&M) to EIB.

“We are currently exploring this opportunity, and both parties will decide in due course.

“This potential arrangement, if materialise, would create a new, recurring revenue stream for us, complementing our current project-based work,“ Wong added.

WEMSB is a subsidiary of the Netherlands-based renewable energy company Maatschappij Wilhelmina NV, specialising in converting agricultural waste streams into sustainable energy using TG2 black pellets.

The EPC works are expected to commence by December 2024, with an expected project completion timeline of 24 months from the commencement date.

KUALA LUMPUR: Sabah-based infrastructure construction player Azam Jaya Bhd (AJB) aims to bid for more projects by capitalising on the state’s substantial growth in the construction industry, especially in regions where infrastructure development is much needed.

Executive director Datuk Jessica Lo Vun Che said the company plans to enhance its construction capabilities, strengthening its capacity to take on larger projects as part of its long-term strategies.

“We are committed to raising construction standards in Sabah to meet the region’s growing infrastructure demands.

“We are particularly encouraged by the federal government’s commitment to advancing development in Sabah, notably through the Budget 2025 allocations, in which Sabah received the highest development funding among the states.

“Azam Jaya welcomes the recent allocation of RM10 billion under Budget 2025 to complete the Sabah portion of the Pan-Borneo Highway, alongside the additional RM6.7 billion for development in Sabah,“ she said at the company listing on the main market of Bursa Malaysia yesterday.

This robust debut follows an IPO oversubscription of 23.00 times, reflecting strong confidence in Azam Jaya’s business operations and growth potential.

At the opening bell, Azam Jaya’s share price debuted at RM1.00, representing a premium of 28.21% over the issue price of RM0.78, with an opening volume of 5,126,000 shares.

The rose as much as 48.72% to touch its intra-day high of RM1.16 and closed at RM1.09.

“With the proceeds from our IPO totalling RM61.5 million, we are poised to accelerate our growth strategies in exciting ways.

“We are committed to enhancing our construction capabilities by expanding our fleet of machinery and equipment, ensuring we have the tools necessary to meet the demands of our expanding projects,“ Lo said.

Azam Jaya specialises in constructing large-scale road infrastructure in Sabah, including roads, highways, bridges, flyovers, and tunnels.

With over 30 years of experience in the industry, the group has a proven track record, having completed over 50 construction projects in the region.

“The listing of Azam Jaya is a testament to over 30 years of industry expertise navigating the complexities of road construction in Sabah.

“With fresh capital, we are well-positioned to accelerate our growth and seize new opportunities,“ Lo said.

On the financial front, Azam Jaya’s revenue grew from RM231.5 million in the financial year ended December 31, 2021 (FY21) to RM280.8 million in FY23, representing a 2-year compound annual growth rate (CAGR) of 10.1%.

Regarding dividend policy, Azam Jaya aims to distribute at least 30% of its net profit to shareholders.

From the proceeds raised, RM8.0 million (13.0%) will be allocated to boost construction capabilities and operational efficiencies by acquiring new machinery, equipment, and technological upgrades.

RM28.4 million (46.2%) has been set aside for working capital purposes, RM20.0 million (32.5%) is earmarked for repayment of bank borrowings, and RM5.1 million (8.2%) will be used to defray listing expenses.

Inter-Pacific Securities Sdn Bhd is the principal adviser, sole underwriter and sole placement agent for the IPO exercise.

KUALA LUMPUR: Building and infrastructure construction services provider TCS Group Holdings Bhd (TGB), as the main contractor via its wholly-owned subsidiary, TCS Construction Sdn Bhd (TCSB), for the J Satine mixed development project, has clarified the recent incident involving cracks in the building.

TGB managing director Datuk Ir Tee Chai Seng expressed concern about the incident and said the company is working closely with the developer and consultants to determine the root cause.

“Thankfully, there were no casualties as a result of the incident. We want to reiterate that health and safety have always been paramount in our projects.

“We want to assure all stakeholders that we have adhered strictly to all health and safety standards and protocols throughout the construction process,“ he said in a statement.

Tee said the group is cooperating fully with the relevant authorities to investigate the cause of the incident.

“Initial findings suggest that we do not cause the building cracks.

“For all our projects, we are committed to ensuring the safety and well-being of all involved and to deliver projects that meet the highest standards of quality and integrity,” Tee added.

He urged the cooperation from the public to stop sharing any unauthorised videos or images and speculating any unverified information related to this project development.

KUCHING: Ibraco Bhd’s wholly-owned subsidiary, Ibraco Ascent Sdn Bhd, completed its first delivery of mild steel cement-lined (MSCL) pipes from its new manufacturing plant at Demak Laut Industrial Park Phase III.

The inaugural delivery of MSCL pipes will be used to develop the water infrastructure within the Kuching Urban Transportation System (KUTS) project.

MSCL pipes are usually used for water developments due to their resilience and reliability in corrosive conditions.

The completion of this first delivery marks the full operational readiness of Ibraco Ascent’s pipe manufacturing plant to cater to the expansion of water infrastructure in Sarawak.

Ibraco Ascent’s pipe manufacturing plant was set up to facilitate Sarawak’s Water Supply Master Plan.

The plan is designed to meet the state’s growing water infrastructure needs and focus on achieving 100% water supply coverage across Sarawak.

The Sarawak Water Supply Master Plan has outlined the development of Sarawak’s water supply for the periods until 2025, 2040, and 2070, incorporating three strategic cores: water demand, water treatment and distribution, and water quality and sufficiency for both raw and treated water.

In addition to helping meet Sarawak’s strategic water needs, Ibraco Ascent’s pipe manufacturing plant is also sustainability-oriented in tandem with the Ibraco Group’s commitment to embrace ESG across its operations and generate tangible value creation for all its stakeholders.

Currently employing 35 local staff, Ibraco Ascent plans to expand its workforce to over 60 employees by 2025, broadening its production to include pipe fittings such as bends, tees and reducers.

This growth reflects the company’s commitment to community development and local employment.

Ibraco Ascent’s manufacturing plant is also equipped with advanced technologies, including automated welding systems, hydrostatic pressure testing, and bitumen coating stations, ensuring each pipe is built to last.

The company adheres to rigorous quality control measures, employing ultrasonic thickness gauges, hydrostatic testing equipment, and radiographic testing to maintain high production standards.

KUALA LUMPUR: Malaysia’s government is monitoring developments in the United States for potential changes in policies as a new administration prepares to take office in Washington, said Economy Minister Rafizi Ramli.

He said that given the influence the US has on the global economy, any country in the world would conduct some level of due diligence on the impacts a change in the US administration might bring.

“That is part and parcel of planning. While we await the next few announcements, we will observe how the Trump administration will impact the global economy and ours,” he told reporters after the Sesi Libat Urus Industri Rancangan Malaysia Ke-13 today.

Rafizi said Malaysia must be nimble and agile to react and respond to any geopolitical and international developments that may arise from a change in administration, not only in the US but in any of its large trading partners. “And the US is a very large trading partner for us,” he pointed out.

However, Rafizi noted that many of Malaysia’s plans concerning semiconductors and energy transition are driven by domestic needs and are largely structural. “That means it’s something we have to go through to prepare our industry and economy to be more robust. So in that sense, I think all the key reforms that need to be done still have to be done.”

Additionally, he said, Malaysia’s 13th Malaysia Plan will include initiatives to position the country as a global provider of a comprehensive artificial intelligence-driven data centre ecosystem. “The government’s focus has always been to tap into the opportunities presented by the data centre boom.”

Rafizi emphasised that Malaysia aims to avoid simply attracting data centre without integrating into the data centre value chain and supply chain. “We have been working on a few catalytic interventions to create the ecosystem.”

Rafizi said that by the end of this decade, Malaysia aims to participate in the entire data centre value chain, first benefiting from existing and future data centers in the country. “But more importantly, for us to begin exporting our own data centers around the world.”

For the 13th Malaysia Plan that is being prepared, Rafizi said, the Ministry of Economy is not only holding engagement sessions with state governments but also ensuring that it includes input from key strategic industries.

The sessions focus on the electronics, aerospace and automotive industries, and the process will continue to align government and industry planning. “The main goal is to transition our industries from assembly-based to innovation and creation-based industries,” Rafizi said.

KUALA LUMPUR: AutoCount Dotcom Bhd (ADB), via its wholly-owned subsidiary Auto Count Sdn Bhd (ACSB), partnered with IAB LCCI Ltd, a collaboration formed following the Institute of Accountants and Bookkeepers’ (IAB) acquisition of the London Chamber of Commerce and Industry (LCCI) qualifications.

This agreement sets the stage for Asia’s first Cloud Accounting Certification Program, which will equip finance professionals with essential skills for the digital era.

The program will be launched on January 1, 2025, marking a significant step forward in modernising the region’s accounting landscape.

Under this collaboration, ADB will design the certification curriculum around its AutoCount Cloud Accounting software.

The syllabus will be submitted to IAB LCCI for accreditation.

IAB LCCI is regulated by the UK’s Office of Qualifications and Examinations Regulation (Ofqual), enhancing the certification’s credibility and alignment with global standards.

With LCCI’s extensive reach across Asia, the certification will be accessible through its network of educational centres and partner institutions, providing aspiring accountants with in-demand cloud accounting expertise.

ADB CEO Yan Tiee Choo said this collaboration with IAB LCCI allows the company to empower the next generation of accountants across Asia.

“Our goal is to provide a practical and accessible path to certification in cloud accounting, supporting not only recent SPM (Sijil Pelajaran Malaysia) graduates but also those seeking to upskill in a fast-changing industry.

“Together, we are paving the way for a more adaptable, technology-driven accounting workforce across the region,“ he said.

Bursa Malaysia-listed ADB is a leading provider of accounting and business software solutions.

IAB Group and IAB LCCI CEO Sarah Palmer said LCCI has been a leader in offering globally recognised qualifications for over 120 years.

“Our partnership with ADB reflects our shared commitment to advancing the accounting profession by equipping future finance professionals with relevant, high-quality skills.

“By collaborating with ADB, a pioneer in cloud accounting solutions, we ensure that this certification meets the industry’s evolving needs and helps individuals succeed in a digital-first finance sector,“ she said.

The certification offers a clear advantage for students and professionals looking to expand their accounting capabilities.

By learning on ADB’s cloud platform, candidates will gain hands-on experience in digital accounting practices, preparing them for careers in an increasingly automated finance landscape.

With the signing of this agreement, ADB solidifies its position as a leader in cloud accounting solutions and furthers its commitment to innovation in financial technology and education.

This partnership aligns with ADB’s vision to become Asia’s top business software provider, fostering a future-ready workforce and advancing the region’s digital transformation.

PETALING JAYA: TM Global, the wholesale business arm of Telekom Malaysia Bhd (TM), will expand its Klang Valley Data Centre (KVDC) in Cyberjaya and Iskandar Puteri Data Centre (IPDC) in Johor, addressing the growing demand for domestic and international data hosting services.

This is the next phase in TM’s strategic roadmap to grow its infrastructure ecosystem and position Malaysia as a preferred digital hub in Southeast Asia, aligning with its aspiration to become a digital powerhouse by 2030.

These expansions and TM’s partnership with Nxera to develop a hyperconnected, artificial intelligence-ready data centre, lays the foundation for digital services such as cloud, advanced analytics, AI and the Internet of Things.

Scheduled to begin commercial operations in 2025, the second phase of both KVDC and IPDC will deliver a combined IT load of about 20MW. The expansion will meet Uptime Institute’s Tier-III standards, and the Leadership in Energy and Environmental Design Silver Rating for long-term sustainability, a globally recognised green building certification.

TM Global executive vice-president Khairul Liza Ibrahim said, “KVDC and IPDC are integral infrastructures in Malaysia’s digital ecosystem, serving as international gateways and interconnected points to support 5G networks. This second phase of our data centre expansion will feature sustainable designs, boosting our capacity to support hyperscalers,

OTT players, cloud and next generation AI providers, as well as enterprises.”

TM Global’s data centres are complemented by seven regional Edge Facilities located throughout the country. These support high-performance computing and co-location services to bring content closer to end-users with minimal latency.

“We have enhanced our data hosting services with a recent acquisition of the Facilities-Based Operator licence in Singapore, allowing us to provide seamless, secure data centre-to-data centre connectivity through our extensive domestic fibre optics network and international submarine cable systems. This enables us to meet the growing connectivity demands across the region, linking data centres from Thailand to Malaysia, Singapore, and Batam in Indonesia,” Khairul Liza said.

TM Global offers a comprehensive suite of platform-based services, including multi-edge computing and content delivery, to elevate data hosting solutions. These services are tailored to optimise performance and efficiency, ensuring a robust and reliable data-driven network for customers. Leveraging its extensive network infrastructure, TM Global equips carriers, enterprises, hyperscalers, over-the-top services, and next-generation AI application providers with the tools necessary to drive innovation and seamless digital integration.

SUBANG JAYA: The Domestic Trade and Cost of Living Ministry (KPDN) will summon the Johor Indian Muslim Entrepreneurs Association tomorrow to seek clarification on its proposal to raise food prices by five per cent starting next year.

Minister Datuk Armizan Mohd Ali said KPDN had issued a notice to the association under Section 21 of the Price Control and Anti-Profiteering Act 2011, requiring an explanation for the proposed price increase.

“Since this association has only just made the announcement for next year, we are taking proactive steps to prevent anyone from taking advantage of the situation.

“This notice is to summon the association to provide an explanation for their announcement regarding the price increase,” he told reporters after the signing of a Memorandum of Understanding (MoU) on price data sharing between KPDN, Mydin, and Redtick here today.

According to media reports, about 300 mamak restaurant operators in Johor expressed concerns about rising operating costs, with the implementation of the minimum wage next year expected to further increase expenses.

As a result, Indian Muslim restaurant operators are expected to raise food prices by at least five per cent at their premises from next year.

Elaborating, Armizan cited an example from OPS Kesan 2.0, where the ministry had taken action against those attempting to take advantage of the implementation of targeted diesel subsidies and the sales and service tax (SST) hike.

“Some parties announced a price increase, but after being summoned and asked to explain, it was found that their reasons were unfounded.

“For instance, the construction sector claimed that the price increase was due to the implementation of the targeted diesel subsidies, even though it is not eligible to use subsidised diesel,” he said.

Armizan said, therefore, that KPDN had issued a notice and taken action under OPS Kesan 2.0 to ensure that price increases were only made based on relevant, actual costs.

KUALA LUMPUR: The late Tun Daim Zainuddin made numerous contributions to the country, especially during the financial crisis in the 1980s, Communications Minister Fahmi Fadzil said.

He said as Finance Minister at the time, Daim successfully steered Malaysia back onto a stable economic path.

“At that time, I was still young and unaware of politics, but we cannot deny that during the 1980s and the ‘Asian Financial Crisis’, the late Daim, as Finance Minister, played a vital role in helping the government and his efforts contributed to Malaysia’s recovery,” he said after performing the funeral prayers for Daim at the Federal Territory Mosque here today.

Daim served as Finance Minister from 1984 to 1991, and again from 1999 to 2001.

Fahmi, who is also Lembah Pantai MP, expressed his gratitude to Daim, recalling how he had come forward to offer support during his campaign in the 14th General Election in 2018.

Meanwhile, former Prime Minister Datuk Seri Ismail Sabri Yaakob expressed his condolences to Daim’s family, acknowledging the loss of a significant figure who had made numerous contributions to the country.

“The loss is not only felt by his family and friends but by the nation. We pray that his soul is blessed and placed among the righteous,” said the Bera MP.

Earlier, the vehicle carrying Daim’s remains arrived at the Federal Territory Mosque at 3.43 pm for the funeral prayers before being taken to the Raudhatul Sakinah Cemetery at Bukit Kiara 1 at 4.48 pm for burial.

Also present were former Prime Minister Tan Sri Muhyiddin Yassin, Opposition Leader and Larut MP Datuk Seri Hamzah Zainuddin and former Kedah Menteri Besar Datuk Seri Mukhriz Mahathir.

Daim, whose full name is Che Abdul Daim Zainuddin, 86, passed away at 8.21 am today at Assunta Hospital in Petaling Jaya, where he was receiving treatment.

ALOR SETAR: An officer of the Malaysian Maritime Enforcement Agency (MMEA) was fined RM25,000 after pleading guilty at the Sessions Court here today to five charges of accepting bribes amounting to RM2,300 two years ago.

Judge N. Priscilla Hemamalini imposed a fine of RM5,000 for each charge faced by Muhamad Abdul Hadi Abdullah, 35 and the court ordered the accused to be jailed for five months for each charge if he failed to pay the fine.

According to all the charges, the accused, who holds the rank of Senior Maritime Officer at the MMEA Kedah and Perlis Headquarters, received money amounting to RM2,300 with no reply from the owner of LGH Maju Trading Company, Lim Kian Chong, who knew that he had an official working relationship with the individual.

The money was received by the accused through five money transfers from the Maybank account of a middleman, a woman, which was then deposited into the accused’s RHB Bank account and all the offences were committed at RHB Bank Bhd Langkawi Island Branch on Jan 2, April 10, May 11, July 7 and Oct 8, 2022.

The charge was filed under Section 165 of the Penal Code (Act 574) which carries a jail term of up to two years or a fine or both.

The Malaysian Anti-Corruption Commission (MACC) officers Abd Muntaqim Abdul Aziz and Mohd Syahzada Azad Sanusi led the prosecution while the accused was not represented.

KUALA LUMPUR: The PriceCatcher app will continue to be improved with data-sharing on prices through the collaboration between the Domestic Trade and Cost of Living Ministry (KPDN) and two supermarket chains, Mydin and Redtick, said Minister, Datuk Armizan Mohd Ali.

He said that this commitment is an initiative that reflects transparency in transactions and business ethics to avoid price manipulation or profiteering at the expense of consumers.

“Previously, the price data displayed in the PriceCatcher app was entirely sourced from field price monitoring officers, which limited the coverage area and the number of premises uploaded to the app.

“...the signing of this MoU (Memorandum of Understanding) marks a pioneering effort to improve the app by enabling automated data sharing from the involved supermarkets to be displayed in the ‘Supermarket Price Sharing’ section,“ he told reporters after the MoU signing ceremony on price data sharing in Subang Jaya today.

Mydin Mohamed Holdings Bhd, managing director Datuk Dr Ameer Ali Mydin, and KPDN secretary-general Datuk Seri Mohd Sayuthi Bakar were also present.

Armizan said that this collaboration will serve as a benchmark for expanding the data-sharing initiative to other supermarkets and premises.

According to Armizan, the PriceCatcher app previously displayed price information for 480 consumer goods, with daily updates for 186 items, weekly updates for 220 items, and monthly updates for 74 items.

“Up until Nov 7, 459,998 users nationwide uploaded the app, however, the active usage rate is 10,00 per week.

“We are taking an additional approach to add more information in the app without adding more price monitoring officers by adopting a self-reporting system or data sharing from retail sector players,“ he said, adding that the app serves as a reference for users and fosters the habit of checking prices of items before buying.

KUCHING: Sarawak police seized 10.4 kilograms (kg) of syabu estimated to be worth RM332,800 in a raid conducted at an apartment in Matang on Monday.

Sarawak Police Commissioner Datuk Mancha Ata said during the raid, a 57-year-old local man who tested positive for methamphetamine and amphetamine was also arrested.

“The total amount of drugs seized could be used by 52,000 addicts and a Kawasaki Z900 motorcycle estimated to be worth RM50,000 was also seized.

“Initial investigations by the police also found that the suspect had a record of past offences under Section 12(2) of the Dangerous Drugs Act 1952,“ he said in a statement here today.

Mancha said the suspect would be remanded for seven days from today until Nov 19 to assist in investigations under Section 39B of the Dangerous Drugs Act 1952.

KUALA LUMPUR: Tun Daim Zainuddin’s passing has not only drawn condolences from federal leaders but also from state leaders who expressed their heartfelt sympathies to his family.

Among those offering their condolences were the Perak Menteri Besar Datuk Seri Saarani Mohamad, Perlis Menteri Besar Mohd Shukri Ramli, Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor.

In posts shared on their respective Facebook pages, they prayed for Daim, who served as Finance Minister from 1984 to 1991 and again from 1999 to 2001, to be placed among the righteous.

Also offering condolences was Kelantan Deputy Menteri Besar Datuk Dr Mohamed Fadzli Hassan, who referred to the passing of the former minister as a significant loss due to his many contributions to the nation.

“On behalf of the state, we extend our deepest condolences to the family of Tun Daim. We have lost a figure who made remarkable contributions to the country,” he told reporters in Kota Bahru today.

PAS president Tan Sri Abdul Hadi Awang also expressed condolences on Facebook, praying that Daim’s soul will be blessed with mercy and divine grace from Allah SWT.

Daim, whose full name is Che Abdul Daim Zainuddin, 86, passed away at 8.21 am today at Assunta Hospital in Petaling Jaya, where he was receiving treatment.

PUTRAJAYA: Active collaboration from industry players is needed for the Technical and Vocational Education and Training (TVET) institution to offer programmes that are of a higher quality and more relevant to market needs.

Deputy Prime Minister Datuk Seri Fadillah Yusof said strong cooperation between the industry players and the TVET institution was crucial to ensure the comprehensive matching of demand and supply.

He said consistent input from the industry players on the workforce skills and needs was also needed by the TVET institution to develop suitable curricula and programmes.

“Forging close cooperation with industry players can create a new skilled workforce to master the latest technology, which will have a spillover effect on encouraging economic growth.

“I call for the active involvement of industry players in Malaysia to collaborate with the government in supporting the agenda to empower TVET,” he said at the 2024 Prime Minister’s Gold Hand Award and Skilled Person Award ceremony here today.

Meanwhile, Fadillah said the government is aware that the TVET stream in Malaysia needs to be improved for it to be more systematic and effective.

He said the organisation of skills competitions was one of the government’s efforts to promote and ensure the quality of delivery of TVET training in Malaysia is in line with international standards.

“I call on all TVET agencies to hold skills competitions at institutional levels so that we can pick the best talent for national and international-level competitions,” he said.

In his speech, Fadillah also thanked and congratulated the national contingent which made sure the Jalur Gemilang was hoisted proudly at the WorldSkills Competition Lyon 2024 at the Euroexpo Lyon in France from Sept 10-15.

In the competition, Malaysia, represented by 15 participants across 14 categories, captured five medals - one bronze medal in the Beauty Therapy category through Wong Hsun Wei and four Medallion for Excellence.

The four Medallion for Excellence recipients were Muhammad Nasran Ahmad in the Hairdressing category; Ahmad Muizuddin Mohd Razi in the Bricklaying category; Muhammad Hakimi Abu Bakar in Electrical Installations; and Stephen Sim Shan Siong in the IT Software Solutions for Business category.

KUALA LUMPUR: Former finance minister Tun Daim Zainuddin was laid to rest at the Bukit Kiara Muslim Cemetery 1 at 6.07 pm today.

The hearse carrying his remains arrived at the burial site at 5.16 pm.

Approximately 200 family members and friends were present for the burial, which took place under overcast skies following the rain.

Daim, 86, died at 8.21 am today while receiving treatment at Assunta Hospital in Petaling Jaya.

His remains were brought to his residence in Persiaran Bukit Tunku at 11.30 am, before being taken to the Federal Territory Mosque in Jalan Duta, where the funeral prayer was performed led by the mosque’s grand imam Jamal Abdul Halim.

Among the prominent figures who paid their last respects at Daim’s residence were former prime minister Tun Dr Mahathir Mohamad, Deputy Prime Minister Datuk Seri Fadillah Yusof, former Senate president Tan Sri Dr Rais Yatim, Opposition leader Datuk Seri Hamzah Zainudin and Muar Member of Parliament Syed Saddiq Syed Abdul Rahman.

Daim, whose full name is Che Abdul Daim Zainuddin, served as Finance Minister twice. His first term was from 1984 to 1991 under Dr Mahathir’s administration, where he played a key role in managing Malaysia’s economy and implementing structural adjustments.

He returned to the role of Finance Minister for a second term from 1999 to 2001, once again under Dr Mahathir, to tackle the economic challenges resulting from the Asian financial crisis.

Born on April 29, 1938, in Kedah, Daim served as a Member of Parliament for five terms between 1982 and 2004.

KUALA LUMPUR: The retail prices for RON97 and RON95 petrol will remain unchanged, at RM3.19 and RM2.05 per litre respectively from Nov 14 to 20.

The Ministry of Finance, in a statement today, said that the retail price of diesel in Peninsular Malaysia also remained at RM2.95 per litre, while in Sabah, Sarawak and Labuan, the price remained at RM2.15 per litre during the same period.

It said the price settings were fixed based on the weekly retail prices of petroleum products, using the Automatic Price Mechanism (APM) formula.

“The Government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people,” said the Ministry of Finance statement.

KUALA TERENGGANU: The mother-in-law of PAS president Tan Sri Abdul Hadi Awang, Dayang Abdullah, aged 90, died shortly after midnight today.

The sad news was shared by Abdul Hadi, who is also Marang MP, on his Facebook page today.

According to Abdul Hadi, his mother-in-law died from old age at her home in Kampung Belubur, Rusila, near Marang at around 12.20 am.

“I am deeply saddened by the news of her passing, which brings sorrow to the entire family, who was very close to her,” he said.

The remains of Allahyarhamah Dayang was laid to rest at the Kampung Rusila Muslim Cemetery after the funeral prayer at 10 am today.

KUALA TERENGGANU: A crane driver and two tow truck operators pleaded not guilty in the Magistrate’s Court here today to charges of abducting a man last week.

The accused, Mohd Sabri Zakarya, 42, Muhamad Hafiz Hasbullah, 35, and Hairudin Sabri Abas, 40, claimed trial after the charges were read before Magistrate Noor Mazrinie Mahmood.

According to the charge, the three men were accused of forcibly abducting a 53-year-old man with the intent to confine him secretly and unlawfully in the motorcycle parking area in front of Bank Islam at a hypermarker here at around 2 pm on Nov 7.

They were charged under Section 365 of the Penal Code read together with Section 34 of the same code, which carries a prison sentence of up to seven years and a fine upon conviction.

Prosecuting officer Insp Ahmad Fitri Mohamed Kamal offered bail at RM10,000 for each accused, while lawyer Ghazali Ismail requested a lower bail amount, citing the financial circumstances of his three clients.

Ghazali noted that Mohd Sabri, who works as a crane driver, and Muhamad Hafiz and Hairudin Sabri, both tow truck operators, earn between RM2,000 to RM2,500 per month and support their respective families.

Magistrate Noor Mazrinie subsequently granted bail at RM6,000 for each accused and ordered them not to disturb or contact the victim until the case is resolved. The case was set for mention on Dec 12 for document submission.

SINGAPORE: Royal Malaysian Navy (RMN) chief Admiral Datuk Zulhelmy Ithnain called on Singapore Defence Minister Dr Ng Eng Hen on Wednesday as part of his three-day introductory visit to the island republic.

The Singapore Defence Ministry (Mindef) said during the meeting at Mindef, both leaders reaffirmed the importance of maintaining strong ties between the navies of the two countries and discussed regional security developments.

“Zulhelmy’s visit underscores the warm and long-standing bilateral defence relations between Singapore and Malaysia,” Mindef said in a statement.

The Malaysian navy chief also called on the Republic of Singapore Navy (RSN) chief Rear-Admiral Sean Wat where they discussed opportunities to strengthen the relationship between the two navies.

Meanwhile, Zulhelmy will visit RSS Singapura – Changi Naval Base on Thursday as part of his programme here.

He will also visit the Information Fusion Centre, a regional Maritime Security centre situated at the Changi Command and Control Centre (CC2C), which is hosted by the RSN.

Zulhelmy, together with Wat, will also attend the opening ceremony of Exercise Malapura 2024 to commemorate the 40th anniversary of the flagship bilateral exercise between the RSN and RMN.

Exercise Malapura 2024 will be conducted from Nov 13 to 24.

The RSN and RMN interact regularly through bilateral exercises, visits and professional exchanges.

Beyond collaborative efforts to safeguard regional maritime security through the Malacca Straits Patrol, the two navies also engage through exercises held under multilateral platforms such as the Five Power Defence Arrangements, the ASEAN Defence Ministers’ Meeting (ADMM), and the ADMM-Plus.

Mindef said these interactions have enhanced the mutual understanding and professional ties between the two navies.

PUTRAJAYA: The founding couple of FashionValet Sdn Bhd, linked to the investment loss of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), continued giving their statement to the Malaysian Anti-Corruption Commission (MACC).

The vehicle carrying the couple arrived at MACC headquarters here at 2.50 pm.

Today marks the sixth day of their statements being recorded after the MACC detected several suspicious account transactions in its probe into investment losses totalling RM43.9 million.

MACC Chief Commissioner Tan Sri Azam Baki was reported to have said that the commission was reviewing and investigating the cash flow received by the e-commerce business platform founders.

MACC is also reported to have frozen several of the couple’s private and company bank accounts worth about RM1.1 million through Op Favish on Nov 6.

SIBU: An elderly man lost RM136,000 after being duped in an online business transaction scam, said Sibu District police chief ACP Zulkipli Suhaili.

He said the victim, in his 60s and unemployed, fell victim when he clicked on a link on Facebook on Oct 9 and was taken to an e-commerce platform which used the WhatsApp application.

“The victim was offered a business opportunity selling branded cosmetics items online exclusively, on the condition that he provides the capital first to enjoy the profits.

“The victim agreed and was then told to download the ‘ask-oshop’ application for confirmation of sales and to increase the capital for the stock of sales items,“ he said in a statement today.

He said that from Oct 13 till Nov 7, the victim made 32 cash transactions into 11 bank accounts on the instruction of the suspect, purportedly to increase the stock of sales items in the app.

On Sunday (Nov 10), the suspect was told that the ‘ask-oshop’ app had been frozen and was instructed to make an additional payment of RM70,000.

“Realising that he has been cheated, the victim lodged a police report at the Commercial Crime Investigation Division of the Sibu District Police Headquarters here yesterday,” he said, adding that the case is being investigated under Section 420 of the Penal Code for cheating.

KOTA BHARU: Police have confirmed that the whistleblower who sent an open letter to the Yang di-Pertuan Agong regarding allegations of corruption in Sabah has received death threats.

Inspector-General of Police Tan Sri Razarudin Husain said the case is being investigated by the Bukit Aman Classified Crime Investigation Unit under Section 507 of the Penal Code, which addresses criminal intimidation through anonymous communication.

The 36-year-old male informant received a threatening call via WhatsApp from an unknown number.

“During the call, the suspect, believed to be a local man, threatened the informant in Mandarin, claiming to be from a hitman group and demanding the informant stay silent.

“The suspect warned that if the informant did not comply, he would be killed within 24 hours and called it a final warning,” Razarudin told Bernama today.

Razarudin said the suspect also sent two images, one of a pistol with ammunition and another showing a person shot in the street.

The informant expressed deep fear for his own safety and that of his family, he said.

“After receiving the WhatsApp message, the informant reported the incident and blocked the number. Since then, no further threats have been made,” Razarudin said, adding that the informant initially suspected that the phone number might belong to a scammer or was dialed incorrectly.

He said further checks revealed that the phone number was no longer in service and had no registered owner.

Razarudin added no other reports had been filed regarding this number, and the investigation returned no relevant records.

GEORGE TOWN: Three local men, active in firearms smuggling, house break-ins, and luxury vehicle thefts that resulted in losses exceeding RM4 million, were shot dead during a shootout at Jalan Changkat-Pulau Burung, Nibong Tebal, earlier today.

Penang police chief Datuk Hamzah Ahmad said that at 5.30 am, a team from the Penang Criminal Investigation Department (JSJ) and Seberang Perai Selatan (SPS) district police were conducting a crime prevention operation when they noticed two suspicious vehicles in the area.

“The police approached the two vehicles, a Honda Accord and a Perodua Myvi, which were acting suspiciously. Upon identifying themselves as police officers, the suspects suddenly fired several shots at our vehicles.

“The police team then returned fire in self-defence, and the three men, aged between 30 and 42, were found dead at the scene,“ he said in a press conference at the Penang Police Headquarters today.

He added that a search at the scene revealed a semi-automatic pistol, a revolver, a box of Master bullets containing 50 rounds of 9mm Luger A USA ammunition, a box of 9mm Luger D62 ammunition containing 44 rounds, two machetes, a crowbar, a sledgehammer, and various other tools used in vehicle theft.

Hamzah said checks revealed that the Honda Accord used by the suspects was a stolen vehicle, which had been reported missing in Seri Kembangan, Selangor.

He added that during the incident, the suspects were believed to be on their way to commit a robbery at a location they had already identified, which was not far from the site of the shootout.

“Initial investigations found that the three men were actively involved in luxury vehicle and 4x4 vehicle thefts, as well as house break-ins across the state since the start of this year.

“Their modus operandi was to target luxury homes, break in, and steal valuables, while the stolen vehicles would be smuggled into neighbouring countries and sold,“ he said, adding that the firearms used by the suspects were also smuggled from abroad.

He explained that none of the suspects had regular employment. The first suspect, aged 42, who was the gang leader, had 35 prior criminal offences and eight drug-related convictions; the second suspect had six previous drug-related offences, while the third suspect had no identification, and all three were believed to be criminal associates.

“With the elimination of these three criminals, police believe they have successfully solved 33 cases of vehicle theft, robbery, and house break-ins that have occurred in Penang since the beginning of this year,“ he said.

KUALA LUMPUR: The man who allegedly murdered a woman believed to be his mother and stuffed her body in a freezer about three years ago at a house in Taman OUG, Jalan Klang Lama here has been remanded for seven days starting today.

Kuala Lumpur police chief Datuk Rusdi Mohd Isa said the 53-year-old unemployed suspect will be remanded until Nov 19.

He said the suspect has no prior criminal record, and the police are still awaiting a health report from the hospital as well as the autopsy report on the victim’s body.

“The suspect himself contacted the police to surrender, and his actions are still under investigation,” he said in a statement today.

At about 8.45 am yesterday, police were alerted about the discovery of a woman’s body at a house in Taman OUG, leading to the arrest of the suspect.

The victim’s body was sent to the University Malaya Medical Centre for a post-mortem and the case is being investigated under Section 302 of the Penal Code.