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Month: February 2025

ICAEW partners SC to strengthen expertise in sustainability disclosures

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The Securities Commission Malaysia (SC) and Institute of Chartered Accountants in England and Wales (ICAEW) have initiated a collaboration through a Letter of Intent to collaborate in certain areas.

This collaboration focuses on capacity-building, with ICAEW providing specialised training on climate-related financial disclosures, the provision of a programme to obtain Sustainability Certifications, the use of ICAEW training films and other areas.

As part of this initiative, ICAEW conducted a workshop  at the ASEAN Capital Markets Forum (ACMF) Chairs Meeting in Penang.

This workshop covered key sustainability disclosure requirements and regulatory best practices, including

  • IFRS S1 and S2 standards for climate and sustainability-related disclosures
  • Scope 3 emissions reporting and measurement challenges
  • The impact of global climate regulations, such as the Carbon Border Adjustment Mechanism (CBAM) and the Corporate Sustainability Reporting Directive (CSRD)
  • The role of regulators in sustainability policy and stakeholder engagement

This collaboration is timely as Malaysia has assumed the ASEAN Chairmanship for 2025, under the theme “Inclusivity and Sustainability.” With global ESG standards evolving, equipping regulators with the right expertise is crucial.

ICAEW Chief Executive Alan Vallance welcomed this milestone, stating, “Trust, ethics, and sustainability must be at the core of capital markets. Sustainability is not just about compliance—it is a business imperative that drives resilience, innovation, and long-term success. Through this collaboration with the Securities Commission Malaysia, ICAEW reaffirms its commitment to strengthening regulatory expertise in sustainability across ASEAN.”

“This collaboration will equip regulators with the tools and insights needed to align with global ESG standards while ensuring that regulation remains supportive, not punitive. By fostering capacity-building, knowledge-sharing, and sustainable finance innovation, we can work together to build an interconnected, inclusive, and resilient ASEAN capital market.”

Echoing this sentiment, SC Chairman Dato’ Mohammad Faiz Azmi, highlighted the need to upskill regulators: “Malaysia’s ASEAN Chairmanship in 2025 presents an opportunity to drive sustainability and financial resilience. Our collaboration with ICAEW ensures we stay ahead of global standards while equipping regulators to support market participants. Together, we can strengthen ASEAN’s capital markets and investor confidence,” he said.

As ICAEW continues to champion sustainability and professional excellence worldwide, this partnership exemplifies its role in empowering financial professionals, policymakers, and regulators with the tools needed to drive meaningful change. Find out more at https://www.icaew.com/technical/sustainability

ASEAN Foundation and Google.org drive AI literacy forward

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The ASEAN Foundation, supported by Google.org, successfully hosted the 1st Regional Policy Convening of AI Ready ASEAN at ASEAN Headquarters/ASEAN Secretariat, Jakarta, Indonesia, on 12 February 2025. This event marked a significant milestone in the implementation of the AI Ready ASEAN initiative, a programme that aligns with Malaysia’s ongoing efforts to enhance artificial intelligence (AI) literacy and innovation.

At the convention, policymakers, AI practitioners, and local implementing partners (LIPs) from across ASEAN explored collaborative approaches to developing regulatory frameworks and policy initiatives aimed at accelerating responsible AI adoption, bridging AI literacy gaps, and unlocking opportunities in Southeast Asia, which align with Malaysia’s National AI Roadmap.

The LIPs from Malaysia are Universiti Teknologi Petronas’ ASEAN Student Association and Kolej Tingkatan Enam Tun Fatimah. Through AI Awareness Campaigns, Training Sessions, Workshops, and Policy Discussions, they aim to empower students, educators, and professionals with the necessary skills to thrive in an AI-driven future. In response to what they hope to achieve through their involvement in the programme, the LIPs shared that they also seek to advocate for AI-friendly policies that align with Malaysia’s national digital transformation goals and ASEAN’s broader AI development framework.

Ultimately, their goal is to establish Malaysia as a regional leader in AI innovation, ensuring that AI is leveraged for economic growth, social impact, and sustainable development. Wong Soon Ping, a representative from Universiti Teknologi Petronas’ ASEAN Student Association said: “Through initiatives like the AI Ready ASEAN programme, young people, particularly from underserved communities, gain exposure to AI concepts, coding, and hands-on learning, which opens up new career pathways in fast-growing tech industries such as robotics, data science, and automation. For educators, AI training not only enhances their teaching methods but also allows them to incorporate innovative technology into their classrooms, making lessons more engaging and relevant to the digital age. A key focus is ensuring that underserved communities, including rural populations, indigenous groups, and women, have equitable access to AI education, fostering a more inclusive and diverse AI ecosystem.”

The event featured panel discussions that explored ASEAN’s AI landscape, the importance of ethical frameworks, and strategies to deliver AI programmes in local communities. In Malaysia, AI literacy is expanding through government initiatives and private sector collaborations. The AI untuk Rakyat (AI for the People) programme, a free online course to increase AI literacy, and the Cikgu Juara Digital programme, which empowers teachers with the skills to teach AI and coding, are central to Malaysia’s commitment to bridging the digital divide and driving inclusive AI adoption nationwide. The Ministry of Education also promotes Hour of Code, a worldwide programme introducing students to basic coding and AI concepts, encouraging computational thinking and problem-solving skills among young learners.

The convention proved timely, as the growth of AI and the adoption of digital technologies will triple ASEAN’s digital economy, growing from approximately USD 300 billion to almost USD 1 trillion by 2030. Policies in the Digital Economy Framework Agreement (DEFA) are expected to double the projection, boosting the economy to USD 2 trillion.

Despite the momentum, AI’s maturity in the region remains polarised. In Malaysia, AI literacy is unevenly distributed across different demographics, with many underserved communities, including rural students, indigenous groups, and lower-income populations, still facing limited access to AI training. The digital divide poses challenges such as poor internet connection and lack of digital literacy programs, slowing down the region’s ambitions to become a premier AI hub. This manifests in the region’s varying levels of AI readiness among member states. Singapore leads the ASEAN region and ranks second globally in the Government AI Readiness 2024 Index. Malaysia follows closely, ranking second in ASEAN and 24th globally, a notable improvement from its 29th spot in 2022. In contrast, Lao PDR, Cambodia, and Myanmar remain in the early stages of AI adoption, ranking at 136th, 145th, and 149th, respectively.
The Regional Policy Convention on AI Readiness marks a pivotal step toward democratising AI across ASEAN. By fostering collaboration, knowledge-sharing, and the development of essential policies, the initiative aims to bridge the AI divide and pave the way for a more inclusive and innovative future.
This convention marked the official commencement of the AI Ready ASEAN initiative, launched in October 2024, which aims to enhance AI literacy in ASEAN member states. With a USD 5 million grant funded by Google.org, the 2.5-year programme aims to equip 5.5 million individuals with essential AI skills, with Malaysia being a key player in this transformative initiative.

Over the two-day convention, the LIPs participated in a hands-on masterclass led by Code.org, which explored foundational AI concepts and practical strategies to overcome challenges in AI education. The experience was further enriched by a visit to Google Indonesia’s office, where participants witnessed real-world AI applications, gaining valuable insights and deepening their technical understanding of machine learning.

Key stakeholders include H.E. Prof. Stella Christie, the Vice Minister of Higher Education, Science and Technology of Indonesia, H.E. Nararya S. Soeprapto, Deputy Secretary-General of ASEAN for Community and Corporate Affairs, H.E. Ambassador Bovonethat Douangchak, Chair of the Board of Trustees of the ASEAN Foundation and Permanent Representative of Lao PDR to ASEAN, Dr. Piti Srisangnam, Executive Director of the ASEAN Foundation, and Putri Alam, Director of Government Affairs and Public Policy at Google Indonesia.

Chin Hin Group Property introduces Avalton By The Water

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Chin Hin Group Property (CHGP) unveils Avalton By The Water during a special preview event at its new sales gallery, located in Jalan Bandar Hilir, Melaka. This marks CHGP’s first development preview of the year.

Avalton By The Water is a resort-themed, luxurious development spanning 6.619 acres of leasehold land, facing Malacca Island. The project features 539 units across seven residential blocks—six low-rise and one mid-rise—and offers two layout types, each with three-bedroom options. Unit sizes range from 760 to 850 sq ft, with prices starting at RM508,000.

With its contemporary design, Avalton By The Water offers an urban sanctuary surrounded by Melaka’s rich historical sites and coastal heritage. The development draws inspiration from the elegance and strength of flowing water, reflecting the beauty and energy of its waterfront setting.

Ideally located at Jalan Melaka Raya 35, the development provides convenient access to major roads and is just 4 kilometres from Melaka Sentral Bus Terminal and 6.3 kilometres from Malacca International Airport. The North-South Highway is approximately 16 kilometres away, making Avalton By The Water a prime choice for future commutes. Popular tourist attractions, such as A Famosa, Jonker Street, Melaka River Cruise, and Little India, are also within close proximity.

Avalton By The Water ensures exceptional convenience with easy access to healthcare facilities, educational institutions, and leisure spots. It is located near Mahkota Medical Centre, Melaka Hospital, and top schools such as JT International School, SMK Tinggi Melaka, and MMU University Malaysia. For shopping and entertainment, Aeon Mall Bandaraya Melaka, Mahkota Parade, Plaza Hang Tuah, and The Shore Shopping Gallery are all within arm’s length.

4 biggest mistakes drivers make after an accident and how to avoid them

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Road accidents continue to be a major concern in Malaysia. Between January and October 2024 alone, Malaysia recorded over 530,000 road accidents, resulting in 5,364 fatalities. If this trend continues, the total number of accidents could surpass the 598,635 accidents reported in 2023.

Given these alarming statistics, knowing what to do after an accident can make a significant difference. Being prepared helps prevent unnecessary stress, ensures a smoother claims process, and protects your rights.

On that note, Liberty General Insurance would like to share the four biggest mistakes drivers make after an accident.

Mistake 1: Failing to Contact Their Insurer First
Delayed notification makes it difficult to verify accident details and increases the risk of penalties for late reporting to authorities.

Mistake 2: Engaging Accident Touts / Towing Syndicates / Unscrupulous Middlemen
Falling for persuasive talk and authorising unethical operators to handle their vehicle which leads to complicated procedures, inflated costs, and substandard repairs.

Mistake 3: Forgetting to Collect Key Evidence
Photos of the scene, third-party information, witness details, and vehicle damage are essential but often overlooked in chaos following an accident.

Mistake 4: Providing Conflicting Statements and Admitting Fault Too Quickly
In the aftermath of an accident, confusion can lead to inconsistent accounts given to the insurer, police, or medical professionals. These inconsistencies can contribute to guilt or nervousness and often lead drivers to admit faults prematurely.

The mistakes above can negatively impact your claim, reducing your compensation or even voiding your coverage.

So, what to do after an accident?

  1. Don’t Panic: Stay calm and contact your insurer immediately for hassle-free roadside assistance services.
  2. Beware of Unauthorised Tow Trucks & Middlemen: Only engage approved towing services to avoid unnecessary complications.
  3. Gather Evidence: Take photos, note details, and collect witness statements.
  4. Opt for Insurer-Approved Repairs: This ensures guaranteed workmanship and warranty for your vehicle.
  5. File a Police Report Promptly: Reporting the accident within 24 hours helps ensure a smooth claims process and prevents potential disputes.

Managing the Aftermath with Confidence

Navigating an accident can be overwhelming, but with Liberty General Insurance’s Vehicle Accident Management (VAM), the process becomes much simpler. As part of Liberty’s Motor Claims Service, VAM ensures fast, efficient claims handling—from damage assessment to resolution—so you experience less stress and fewer delays.

Here’s how Liberty’s claim centre can help simplify the claims process:

  1. Authorised Towing Services: Safe, reliable, and insurer-approved towing to the assessment centre or preferred repairers.
  2. On-the-Spot Damage Assessments for Third-Party Property Damage (TPPD) Claims: Third-party claimants can now bring their vehicles to Liberty’s Vehicle Assessment Center for immediate assessment of damages.
  3. Fast-Tracked Third-Party Claims: Liberty’s experienced loss adjusters will assess damages on-site and determine repair costs without delays. It also reduces waiting time where third-party claims can be attended to immediately.
  4. Instant Windscreen Repairs & Replacements: On-site specialists provide same-day repairs or replacements, as well as quick inspection, documentation, and processing to minimise disruptions.
  5. Expert Repairs: Repairs at insurer-approved workshops with guaranteed workmanship and warranty.
  6. Faster Approvals & Transparent Claims Process: Advanced claim assessment tools help expedite approvals for various motor claims, including Own Damage, Express Claims, Third-Party Property Damage (TPPD), and Windscreen Claims. There will also be expert guidance to prevent unnecessary admissions or complications during the claims process.

Being prepared and taking the right steps after an accident can make a huge difference in ensuring a smooth resolution. Staying calm, gathering evidence, and working with trusted service providers can help protect your interests and speed up the recovery process.

Meta Bright drives Malaysia’s energy transition with BESS, EV charging and EE solutions

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Meta Bright Group Berhad (“Meta Bright” or “the Group”) is expanding its presence in the renewable energy sector through a strategic joint venture to provide Total Energy Solutions.

In conjunction with the said expansion, the Group has partnered with United Success Holding Pte. Ltd. and Yang Lei to establish Meta Bright Solutions Sdn. Bhd. (“JVC”) to develop and operate battery energy storage systems (BESS), EV charging infrastructure and energy efficiency solutions (EE) in Malaysia and potentially across Southeast Asia.

Meta Bright Energy Sdn. Bhd. (“MB Energy”), a wholly-owned subsidiary of Meta Bright Group Berhad will hold a 55% controlling stake in JVC, with United Success and Yang Lei owning 10% and 35%, respectively.
This initiative aligns with Malaysia’s National Energy Transition Roadmap (NETR), which seeks to increase renewable energy’s GDP contribution to RM220 billion by 2050 while reducing carbon emissions in the energy sector by 32%. With the government’s RM300 million allocations under Budget 2025 for renewable energy, Malaysia is accelerating grid modernisation, energy efficiency initiatives, and renewable energy adoption— Meta Bright is well-positioned to capitalise on the growing demand for BESS EV charging infrastructure and EE solutions.

To strengthen its technological capabilities, JVC has signed an exclusive technical support agreement with YTKJ. YTKJ is backed by Ningbo Urban Construction Investment Holding Co. Ltd., one of China’s state-backed urban infrastructure developers, reinforcing the JV’s strong technological and financial foundation. YTKJ collaborated with Ningbo Joyson Electronic Co. Ltd. (“Joyson Electronic”) to produce and manufacture Battery Energy Storage Systems (“BESS”).

Joyson Electronic is a publicly listed company on the Shanghai Stock Exchange (SHA: 600699) and is a global leader in automotive electronics, safety systems, and smart mobility solutions, with a strong presence in new energy applications. In addition to BESS, Joyson Electronic also produces Electric Vehicle (EV) charging products, further strengthening its role in the sustainable energy ecosystem.

JVC will actively contribute to the expansion of Malaysia’s EV charging infrastructure, supporting the increasing adoption of electric vehicles nationwide. The company will develop and supply high-speed, smart charging station equipment, ensuring a seamless and energy-efficient charging network. The integration of BESS with charging stations will further optimise energy storage and promote a more sustainable energy ecosystem.

Derek Phang Kiew Lim, Executive Director of Corporate and Strategic Planning of Meta Bright Group Berhad said, “This joint venture is expected to help contribute the development for Malaysia’s energy landscape. “We are not just building BESS and EV charging infrastructure; we are building a more sustainable and resilient energy future for the nation.”

“With the rising demand for energy storage and EV charging infrastructure, we see BESS as a crucial enabler of a more stable and efficient energy ecosystem. We aim to develop scalable, high-performance BESS solutions integrated with advanced EV charging stations, positioning Meta Bright at the forefront of Malaysia’s clean energy transition,” Derek added.

Tealive partners with Devyani International Limited

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Loob Holding Sdn Bhd has signed a master franchise deal with leading Indian Quick Service Restaurant (QSR) operator Devyani International Limited (DIL) to introduce Tealive into India.

The top regional lifestyle tea brand is now entering one of the world’s largest consumer markets, following its successful penetration of the United Arab Emirates (UAE) in October last year. DIL is India’s largest franchisee for Yum! Brands, operating KFC and Pizza Hut outlets, and the exclusive franchisee for Costa Coffee cafes in the country. In addition, DIL has its own home grown brands, including Vaango, a popular South Indian vegetarian food destination, and The Food Street, a food court concept featuring multiple cuisines under one roof. DIL operates more than 2,000 stores across brands in India, Thailand, Nigeria and Nepal.

Loob Holding founder and CEO Bryan Loo expressed confidence that DIL’s expansive network and F&B expertise would provide a solid foundation for Tealive to grow in India.

“Together with our partner, Tealive will bring our innovative lifestyle tea culture to the land of chai. Our partner knows the local market well and we’re planning significant presence in India, beginning with outlets in the major cities this year,” he said.

India presents a huge market potential for lifestyle tea amongst the young population. This gives Tealive a strategic advantage with its strong branding and Southeast Asian appeal. While India’s tea scene is populated by local brands and individual stores, Tealive’s diverse menu and innovative offerings will cater to evolving consumer preferences.

Mr. Ravi Jaipuria, Non-Executive Chairman, Devyani International Limited, said: “We are delighted to introduce Tealive, a strong Asian brand, into India, known to have a rich tradition of chai culture. Tealive’s diverse lifestyle tea offerings perfectly align with India’s young and evolving consumer, who are increasingly drawn towards newer categories. Together, we are set to redefine and transform tea experience in the vibrant Indian market.”

Loo emphasised that Tealive would continue its current regional strategy of starting small and scaling up fast with the right market conditions. “With our partners’ local knowledge, industry experience, and extensive reach, we are well-positioned to rapidly expand and promote our unique lifestyle tea culture across India,” he said.

UOB launches Green Lane with Invest Johor to fast-track investments into JS-SEZ

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UOB announces the launch of the Green Lane with Invest Johor which will fast-track investments into the Johor-Singapore Special Economic Zone (JS-SEZ). This is one of the outcomes arising from the Memorandum of Understanding (MoU) signed with Invest Johor at the 2024 ASEAN Conference last August.

Under the agreement with Invest Johor, UOB will undertake the pre-qualification assessment for customers’ applications for Johor’s Super Lane approval, according to the criteria set out by Invest Johor. This will further accelerate the processing turnaround time.

To further streamline the process, UOB has introduced a Fast Lane Account Opening service for its Singapore customers looking to expand into the JS-SEZ, ensuring a fast and hassle-free experience. The Bank has also established dedicated JS-SEZ Desks in Johor and Singapore to provide swift support on financial solutions, account opening, and market entry to its customers.

UOB also introduced its first client under the Green Lane, Gold Peak Technology Group (Gold Peak). Mr Michael Lam, Executive Director and Managing Director of Gold Peak officially presented a Letter of Intent (LOI) to Tuan Haji Natazha Hariss, Chief Executive Officer of Invest Johor.

Present at the ceremony, YAB Dato’ Onn Hafiz said, “Since the signing of the Johor-Singapore Special Economic Zone (JS-SEZ), we have witnessed remarkable progress in strengthening cross-border trade and investment opportunities. Our partnership with UOB has gained strong momentum, reinforcing our shared vision of creating a seamless and thriving investment ecosystem within the JS-SEZ. This collaboration is a testament to our commitment to turning vision into action.

“We are also pleased to welcome Gold Peak Technology Group’s investment, which brings advanced manufacturing capabilities, high-quality job opportunities, and sustainable economic growth to Johor. This is yet another milestone that aligns with our commitment to realizing the Maju Johor 2030 vision – transforming Johor into a globally competitive and sustainable economic powerhouse. As we move forward, we remain dedicated to attracting more high-value, future-ready investments that will further cement JS-SEZ’s position as a premier destination for innovation, industry, and sustainable development.”

UOB will facilitate Gold Peak’s entry into the JS-SEZ, providing market entry advisory, cross-border banking services and financial solutions, as Gold Peak expands in the region. Gold Peak is a global leader in battery technology and energy storage solutions and is listed on the main board of Hong Kong Stock Exchange. Gold Peak’s proposed investment in the JS-SEZ is estimated to be RM670 million (US$150 million), involving the establishment of a state-of-the-art manufacturing and a research and development facility producing batteries with next-generation technologies.

Gold Peak’s future facility will focus on producing next-generation battery technologies and is expected to play a pivotal role in advancing sustainable energy storage solutions, mainly for data centres, across Southeast Asia. The company’s proposed investment is expected to create approximately 150 to 180 employment opportunities, contributing to the region’s socio-economic development, driving innovation and providing new prospects for local talent. The investment also falls within one of the 11 key sectors the SEZ is promoting.

Bursa Malaysia wins sustainability award

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Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) has won the “Best Climate Change Strategy in Asia – Stock Exchange” by Asia Asset Management’s 2025 Best of the Best Awards. This award recognises Bursa Malaysia’s leadership among Asian exchanges for integrating and mandating robust climate change and sustainability practices within Malaysia’s capital market.

Bursa Malaysia has implemented a comprehensive climate action strategy for Malaysian public listed companies, which includes rigorous sustainability reporting standards for PLCs, developing sustainability intelligence or measurement tools, facilitating green financing, as well as demonstrating thought leadership and undertaking active engagement in ASEAN and global climate initiatives.

This approach goes well beyond regulatory compliance of enhanced disclosures, to embedding sustainability within business operations, greening supply chains, and facilitating decarbonisation initiatives via access to sustainable financing. These combined efforts are aimed at fostering a low-carbon and resilient economy, supporting Malaysia’s national sustainability agenda to achieve net-zero carbon emissions by 2050, while boosting public listed companies’ competitiveness and addressing the growing investor demand for sustainable driven value.

“This award is a testament to our unwavering commitment to sustainability and our dedicated efforts to combat climate change,” said Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. “As a leading exchange in ASEAN, we believe in setting a high standard for environmental stewardship, and encouraging our listed companies to adopt sustainable practices that make a positive difference, and support progress on global sustainable development goals.”

The Best of the Best Awards 2025, organised annually by Asia Asset Management, celebrates outstanding performance across multiple areas, including investment management, pension governance, technology applications, securities servicing, innovative product offerings, and leadership in the financial industry. The “Best Climate Change Strategy in Asia” award in particular, recognises an institution – stock exchange, bank, asset manager, insurer, sovereign wealth fund, corporate – in the Asia-Pacific region that has demonstrated exceptional leadership and commitment to addressing climate change.

Maybank Asset Management launches first in-house Shariah Global Tech Fund to tap AI megatrends

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Maybank Asset Management Sdn Bhd (“MAM Malaysia”) is proud to introduce the Maybank Global Technology-I Fund (“the Fund”), its second in-house global fund and a key addition to its suite of Shariah-compliant investment solutions. Designed for investors seeking long-term capital growth, the Fund aims to offer investors access to high-growth technology companies that are shaping the future of the global economy while adhering to Shariah principles.

Hisham Hamzah, CEO of MAM commented, “The launch of the Fund comes at a pivotal time as financial markets navigate heightened volatility. Following President Donald Trump’s return to office, the U.S. has imposed significant tariffs on key trading partners, including Canada, Mexico, and China, introducing renewed uncertainty in the global economy. Amid these challenges, investors seek resilient investment solutions, and the Fund is designed to meet this need.”

He added, “Concurrently, China’s technological advancements are reshaping the competitive landscape. Notably, a Chinese startup has released a low-cost, high-performance AI model, R1, which has garnered significant attention and is seen as a major development in the AI industry. Keeping up with these rapidly evolving market developments can be complex for investors, requiring the expertise of professional fund managers to identify opportunities and mitigate risks. the Fund offers a unique opportunity to participate in the future of innovation while benefiting from professional investment management.”

As an equity fund, the Maybank Global Technology-I Fund invests primarily in a diversified portfolio of Shariah-compliant equities and equity-related securities of technology-driven companies worldwide. By maintaining at least 75% of its net asset value (NAV) in global Shariah-compliant technology-related equities, the Fund aims to provide investors with meaningful exposure to cutting-edge innovations in artificial intelligence, cybersecurity, digital payments, and cloud computing.

Denominated in Malaysian Ringgit (MYR) as the base currency, the Fund is available in both retail (MYR Class) and institutional (MYR Institutional Class) offerings, with a minimum investment of RM1,000 and RM250,000, respectively.

Investors are advised to read and understand the contents of the Fund’s Product Highlights Sheet and Prospectus, dated 6 February 2025, before making any investment decisions.

The Maybank Global Technology-I Fund is now available on Maybank2U and Maybank branches nationwide. To learn more about the Fund, investors can visit www.maybank-am.com.my.

RHB #JOMBIZ empowers over 700 micro-entrepreneurs

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RHB Banking Group (“RHB” or the “Group”) celebrates the continued success of its #JomBiz programme, a socio-economic empowerment initiative aimed at empowering B40 micro-entrepreneurs. Since its launch in 2022, the programme has invested over RM1.1 million, benefitting more than 700 micro-entrepreneurs and delivering an impressive 35% average sales growth within just three months.

The 2025 RHB #JomBiz Award Ceremony celebrated these remarkable achievements of selected micro- entrepreneurs from RHB Jom#Biz, showcasing the programme’s critical role in providing funding, capacity building, and mentorship to Micro, Small and Medium Enterprises (MSMEs) from the B40 group and underserved communities. The ceremony recognised the recipients of business incentive funding from Cohort 5 of the #JomBiz programme. Participants undergo capacity-building classes on topics such as social media marketing, sustainable business practices, and financial management. Following these sessions, they present their business plans to a panel of judges, with the top 10 proposals receiving initial funding ranging from RM5,000 to RM15,000 to support their business growth.

Dato’ Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group, emphasised RHB’s commitment to supporting micro-entrepreneurs, “We recognise the immense potential of MSMEs in transforming lives and uplifting communities, but we also acknowledge the challenges they face such as limited access to funding, lack of business knowledge, and the difficulty of building networks within competitive markets. This initiative reflects our unwavering commitment to driving growth, fostering resilience, and empowering participants to overcome obstacles and thrive in today’s dynamic economy.”

At the graduation ceremony of Cohort 5, Dato’ Mohd Rashid also shared inspiring success stories from the programme, including participants who secured franchise opportunities and supply contracts with renowned companies after attending the Franchise Expo Malaysia (FEM) 2024 organised by the Malaysia Retail Chain Association (MRCA). Notably, four #JomBiz participants were recognised at The Star Outstanding Business Awards (SOBA) 2023.

The top 3 winners of Cohort 5’s business incentive funding are:

  • 1st Place Puan Nurul Farhana Binti Amirul Hizan, Hanawarrah Creation Enterprise (healthy dried snack food products) – awarded RM15,000
  • 2nd Place Encik Mohd Shafiq Ezwanie Bin Jafri, Senju Co (pastry and bakery business) – awarded RM12,000
  • 3rd Place Puan Nur Shawani Binti Che Mansur, Wisymadani Resources (agro-tourism and agro-based industry business) – awarded RM10,000

Dato’ Mohd Rashid concluded, “These stories inspire us at RHB to continue providing more platforms for our RHB #JomBiz participants. We hope their success inspires and motivates other micro-entrepreneurs to pursue their dreams.”

RHB aims to expand the #JomBiz programme in 2025 to reach more participants and broaden its impact on Malaysia’s micro-entrepreneur community. The programme will continue to prioritise Asnafs, single parents, and Persons with Disabilities (PWDs), ensuring inclusive opportunities for all.

Learn more about how RHB #JomBiz can help micro-entrepreneurs achieve their goals by visiting https://www.rhbgroup.com/jombiz.