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CelcomDigi-Ericsson’s strategic partnership to accelerate O&G sector

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CelcomDigi Berhad (“CelcomDigi”) and Ericsson (Malaysia) Sdn Bhd (“Ericsson”) signed a Memorandum of Understanding (MoU) to boost Malaysia’s digital transformation by accelerating 5G adoption in Malaysia’s oil and gas (O&G) industry, advancing the nation’s key sector to the forefront of industrial digitalisation.

By combining CelcomDigi’s robust network infrastructure and deep local expertise with Ericsson’s global leadership in 5G technology, the partnership will drive the creation of 5G-powered solutions tailored to the unique demands of the O&G sector. Through CelcomDigi’s newly established 5G Standalone (SA) test lab, both companies will develop and deploy 5G use cases, focusing on:

  • Enhanced safety – Deploying 5G-enabled solutions to improve worker safety and hazard detection in high-risk environments
  • Advanced tracking – Utilising 5G technology for real-time asset and personnel tracking to optimise operational efficiency
  • Digitalisation and automation – Empowering O&G operations with real-time data analytics and automation for seamless decision-making
  • Mission-critical connectivity – Delivering reliable, ultra-fast 5G connectivity to support critical functions and industrial applications

This partnership marks a pivotal step in modernising Malaysia’s O&G sector to a smarter, safer, and more efficient industrial ecosystem powered by next-generation connectivity solutions.

The MoU was signed at the Mobile World Congress (MWC) in Barcelona, Spain by CelcomDigi’s Deputy CEO, Albern Murty and Head of Ericsson Malaysia, David Hagerbro, witnessed by the Deputy Minister of Communications, YB Teo Nie Ching.

Commenting on the partnership, CelcomDigi’s Deputy CEO, Albern Murty said, “As CelcomDigi evolves beyond connectivity into a telco-tech company, we recognise that the key to unlocking the full potential of 5G-AI lies in strong industry partnerships. Collaborations like this allow us to co-create meaningful solutions that go beyond technology, directly addressing industry challenges and transforming operations. We look forward to shaping a safer, more efficient, and future-ready O&G sector, as well as accelerating 5G adoption across industries as we continue to drive the nation’s development into a 5G-AI digital society.”

David Hagerbro, Head of Ericsson Malaysia, Sri Lanka, and Bangladesh, commented, “We stay committed to ensuring that Malaysia remains at the forefront of digital innovation. This collaboration with CelcomDigi is a strategic leap forward in the digital transformation of Malaysia. Our partnership in the O&G sector will drive real-time solutions in terms of enhanced efficiency, safety and digitalising operations that will redefine how industries operate in the country.”

As Malaysia accelerates its 5G adoption, this strategic collaboration underscores CelcomDigi and Ericsson’s shared vision of pioneering innovative solutions that elevate industries, empower businesses, and contribute to the nation’s digital economy aspirations.

Bursa Malaysia designates centralised sustainability intelligence platform for reporting

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Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) today announced the readiness of its Centralised Sustainability Intelligence (“CSI”) Platform to support ISSB IFRS S1 and S2 disclosure requirements adopted under the National Sustainability Reporting Framework (NSRF).

With this development, the CSI Platform will accordingly serve as the Exchange’s designated sustainability reporting channel for all public listed companies (PLCs). As part of the designation, the platform has been enhanced to include IFRS reporting modules alongside its Scope 1 and Scope 2 carbon calculator, all of which are available to PLCs at no cost.

Bursa Malaysia is also introducing two artificial intelligence (“AI”)-powered value-added services to streamline sustainability and climate disclosures and support quality sustainability reporting by PLCs, sometimes with support by their sustainability advisors. These services were developed in collaboration with 2 Malaysia Digital Status companies under the Malaysia Digital Economy Corporation (MDEC), and have been validated by mid- and small-capitalisation PLCs to ensure their practicality and effectiveness. The aforementioned AI-powered services are:
1. AI-Sustainability Ratings Analyser (AI-SRA) by SustenyX
Provides diagnostics to identify disclosure gaps, assess key risks and opportunities, and provide tailored recommendations to help PLCs enhance their sustainability performance and ratings.
2. AI-Sustainability Reporting (AI-SR) by CarbonGPT
Generates a base sustainability report that complies with regulatory requirements and industry standards, using disclosure inputs from the CSI Platform.

Leveraging advanced AI capabilities, these services ease adherence to comprehensive disclosure requirements, provide precise gap analyses, prioritise key reporting areas, improve ESG rating alignment, and help PLCs establish sound reporting practices. To drive wider adoption, Bursa Malaysia is collaborating with Alliance Bank to offer these services for free to eligible PLCs – especially small to mid-sized, or newly listed companies.

Dato’ Fad’l Mohamed, Chief Executive Officer of Bursa Malaysia, said “Designating the CSI Platform as the Exchange’s reporting channel reaffirms our commitment to strengthening sustainability disclosures among PLCs. By integrating AI-powered services, we are equipping companies with the tools needed to produce structured sustainability reports.”

“We understand the challenges of sustainability reporting, particularly the time and resources required. With the CSI Solution’s AI-driven enhancements, we aim to ease this burden for PLCs by improving efficiency, accuracy, and accessibility. Beyond benefiting PLCs, service providers can also leverage these tools to expand their offerings, creating a multiplier effect that accelerates Malaysia’s transition to green practices,” Dato’ Fad’l Mohamed added.

Since its launch in June 2024, over 130 PLCs have onboarded onto the CSI Platform. Companies – not just PLCs but also mid-tier companies (MTCs) and small-medium enterprises (SEMs) are encouraged to adopt the CSI Solution and utilise its AI-powered enhancements to strengthen their sustainability journey.
For more information regarding the CSI Solution and its value-added services, please visit Bursa Malaysia CSI Solution or contact csi@bursamalaysia.com.

Malaysian capital market hits record RM4.2 Trillion in 2024

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The size of the Malaysian capital market hit an all-time high of RM4.2 trillion in 2024 (2023: RM3.8 trillion), driven by the growth in stock market capitalisation and bonds and sukuk outstanding.

The assets under management (AUM) of the fund management industry reached a new high of RM1.1 trillion (2023: RM975.5 billion) – passing the RM1 trillion mark – on the back of strong global equity market performance, the Securities Commission Malaysia (SC) said in its Annual Report 2024 released today.

2024 also saw much higher fund-raising activities, growing to RM138.9 billion (2023: RM127.7 billion). These include a record 55 IPOs (2023: 32 IPOs), which raised a total of RM7.42 billion (2023: RM3.6 billion).
The SC Chairman Dato’ Mohammad Faiz Azmi said the sustained growth, helped by robust bond and sukuk issuances, showed that the capital market remained resilient, and it continued to facilitate capital formation and help support the national economy.

Looking ahead, he said the SC is now drafting a new five-year capital market masterplan, focusing on key areas such as improving financial security for retirees and promoting sustainable financing.
“Building on our market’s strengths, the SC remains committed to fostering an inclusive and vibrant capital market, while facilitating innovation and enhancing regulatory efficiency,” Dato’ Faiz said.

Key Highlights from the SC Annual Report 2024:
Market Growth & Fundraising

  • Total fund raising via the equity and corporate bond market grew by 8.7% to RM138.9 billion in 2024.
  • Record Initial Public Offerings (IPOs): 55 IPOs in 2024, raising RM7.4 billion (2023: 32 IPOs).
    ISSUED by the SECURITIES COMMISSION MALAYSIA at [2:30pm /20 March 2025]
  • Bond & Sukuk Issuances: RM124.2 billion raised, with sustainability-related issuances rising to RM13.3 billion (2023: RM8.7 billion).
  • Islamic capital market (ICM): Grew by 8.5% to RM2.6 trillion, supported by a 7.1% rise in sukuk outstanding and a 3.6% growth in market capitalisation of Shariah compliant equities.
  • Alternative financing for Micro, Small and Medium Enterprises (MSMEs): RM4.1 billion raised via peer-to-peer (P2P) financing, equity crowdfunding (ECF) and venture capital/private equity (VC/PE), reflecting growing interest in supporting small businesses.
    • Venture Capital/Private Equity (VC/PE) – RM1.5 billion
    • Equity crowdfunding (ECF) – RM97.6 million
    • Peer-to-peer financing (P2P) – RM2.5 billion

Investor interest reflected in trading and investment growth

  • Strong trading activity, reflecting favourable investor sentiment. The average daily trading value rose to RM3.44 billion in 2024 from RM2.29 billion in the previous year.
  • Fund management growth: AUM surpassed the RM1 trillion mark driven by strong global equity market performance.
  • Private Retirement Scheme (PRS): Net asset value grew 18% year-on-year to RM7.61 billion.
  • Digital Investment Management (DIM) AUM reached RM1.9 billion, growing over 500 times since its inception in 2018.
  • Average daily trading value of the Digital Asset Exchanges (DAX) increased by 2.6 times in 2024, signaling growing interest in digital assets.

Key Market Development Initiatives

  • Introduced the Single Family Office (SFO) Incentive Scheme in Forest City to position Malaysia as a premier wealth management hub for family offices.
  • Launched the National Sustainability Reporting Framework (NSRF) to propel corporate alignment with global sustainability disclosure standards.
  • Launched the “Catalysing MSME and MTC Access to the Capital Market: 5-Year Roadmap (2024-2028)” to enhance financing access to this key segment of the Malaysian economy.
  • Shortened time-to-market for IPO approval process to better serve companies and facilitate their access to the capital market.
  • Introduced the Focus Scope Assessment framework, reducing time-to-market from over six months to three months.
  • Enabled greater innovation through the Regulatory Sandbox, providing a controlled environment for experimenting with innovative products and services beyond current regulatory frameworks.

Enhanced Market Integrity and Enforcement

  • Regulatory Actions:
    • One criminal conviction.
    • RM9.87 million civil penalties imposed.
    • 125 administrative sanctions imposed, resulting in 62 fines and penalties amounting to RM13.72 million.
  • Combatting scams and unlicensed activities:
    • 4,859 complaints and enquiries received, up 49% from 2023.
    • Additionally, identified 796 URLs (2023: 569 URLs) across various websites and social media platforms for potential breaches arising from proactive surveillance carried out.
    • Interventions, including 273 Alert List entries, 153 websites blocked and 261 social media blocking

Four Special Feature articles were published in the SC Annual Report 2024:

  • Issues and Challenges of Ageing to Capital Market
  • Malaysian Co-Investment Fund (MyCIF) Spurring Growth and Enhancing Competitiveness of MSMEs
  • SCxSC Expansion: Driving Innovation for a Sustainable Capital Market
  • National Sustainability Reporting Framework

AOB Annual Report 2024: Strengthening Audit Oversight

  • 42 audit firms and 393 individual auditors registered and recognised by the AOB.
  • Inspected 40 audit engagements audited by 40 individual auditors from 13 Audit Firms to ensure compliance with auditing and ethical standards.
  • The AOB took three enforcement actions against two audit firms and four individual partners for breaching auditing and ethical standards in 2024. The actions included reprimands, prohibitions and monetary penalties totalling RM275,000.
  • The AOB, in collaboration with MICPA, continues to strengthen capacity building for registered auditors through targeted workshops.
  • The AOB subsidised 100 accountants from AOB-registered firms for the GRI Professional Certification Programme, conducted by SIDC in October 2024. These initiatives, alongside ongoing engagements and technical sessions, demonstrate the AOB’s commitment to equipping auditors with the necessary knowledge and skills to uphold high professional standards in financial reporting and sustainability assurance.
  • Strengthened corporate governance in PLCs to increase investors’ confidence in the quality and reliability of audited financial statements through regular engagements with Audit Committees of PLCs.

Capital Market Stability Review 2024: Market Resilience Amid Global Uncertainties

  • In 2024, amidst a buoyant performance, the Malaysian capital market was influenced by several external factors, including interest rate adjustments by major central banks, fluctuations in foreign exchange rates, and rising geopolitical risks. Despite global headwinds, the Malaysian capital market remained resilient and orderly without any observed systemic stability concerns.
  • Adequate Capital Buffers: Market intermediaries such as brokers and fund managers maintained robust risk management controls to manage their risk and liquidity positions. Stress tests on investment funds also affirmed the resilience of funds to redemption shocks even under extreme scenarios.
  • Improved PLC earnings: Strong earnings of PLCs, mainly contributed by the energy, property and construction sectors, lifted the index performance and contributed to positive revenue growth of stockbroking intermediaries.
  • Cybersecurity in focus: The thematic review highlighted the importance of cyber resilience and for capital market entities to be prepared for evolving technology and cyber risks, in order to maintain market stability

In 2025, the SC will continue to strengthen key market segments while reinforcing market conduct, governance and financial sustainability. Major initiatives include:

  • ASEAN Capital Markets Forum (ACMF) initiatives under the SC’s chairmanship, including sustainability-related taxonomies and guidelines, and finalising the five-year ACMF Action Plan 2026-2030.
  • Develop the Capital Market Masterplan 4 (CMP4) to provide a long-term vision for the Malaysian capital market. CMP4 aims to ensure the Malaysian capital market remains competitive and resilient amid economic, social and technological changes.
  • Focus on reinforcing Malaysia’s leadership in Islamic finance. This will include developing specific indicators for each Maqasid al-Shariah principle, starting with the equity market. This is to encourage greater Islamic product innovation and boost Malaysia’s leadership in this space.
  • In 2025, Malaysia will undergo two key assessments. These are the Financial Action Task Force (FATF) Mutual Evaluation and the biennial Corporate Governance (CG) Watch for the Asia Pacific region.
    • Focus of supervisory and enforcement functions include strengthening risk assessment in higher-risk sectors, improving monitoring mechanisms, enhancing measures to detect and prevent money laundering (ML) & terrorism financing (TF) in ensuring compliance with FATF’s 40 Recommendations.
    • The CG Watch assessment is expected to be carried out in 4Q 2025 and published in 2026. Ahead of the assessment, the SC and relevant stakeholders will proactively implement necessary interventions to address identified gaps.
  • Reviewing fees to provide a sustainable regulatory and developmental environment that supports the capital market’s growth and scope. The review, which involves extensive consultations with various stakeholders, is targeted to be completed in 2025.

To view these reports, please visit:
1. SC Annual Report 2024: https://www.sc.com.my/annual-report-2024/
2. AOB Annual Report 2024: https://www.sc.com.my/annual-report-2024/audit-oversight
3. Capital Market Stability Review 2024: https://www.sc.com.my/resources/cmsr/cmsr2024

NCT Alliance expands presence in Sabah

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NCT Alliance Berhad (“NCT”) announces its wholly-owned subsidiary, NCT Panorama Sdn Bhd, has entered into a conditional sale of shares agreement (“SSA”) with Ir Herman Lee Show Kien and Mr Melvin Lee Ying to acquire a 51% stake in Setara Juara Sdn Bhd (“SJSB”) for a total purchase consideration of RM22.0 million. The purchase consideration will be satisfied via a combination of cash and contra properties.

In line with the acquisition, NCT Panorama, Ir Herman and Mr Melvin have also entered into a Shareholders’ Agreement (“SHA”) to regulate the relationship of the Parties in respect of SJSB.

Pivotal to the company’s long-term growth strategy, the acquisition will pave the way for NCT’s development of Ion Marina Bay, a property development project with an estimated gross development value (“GDV”) of RM3.4 billion. The landmark waterfront project located in Putatan, Sabah, is expected to further strengthen the company’s presence in one of Malaysia’s most promising real estate markets.

Dato’ Sri Yap Ngan Choy, NCT Alliance’s Executive Chairman and Group Managing Director, stated: “The agreement marks another key milestone in NCT’s expansion into Sabah, reinforcing our vision of building sustainable communities in high-growth regions. Ion Marina Bay will be a catalyst for transformation, creating a dynamic, integrated township that aligns with Sabah’s rapid urban development. As we grow, our focus remains on delivering developments that offer lasting value to homeowners, businesses and investors alike.”

Ion Marina Bay will be a mixed development, comprising residential, commercial and lifestyle components. Spanning approximately 250 acres, the development is strategically located two kilometres from Putatan Town Centre and 5 kilometres from Kota Kinabalu International Airport (KKIA), offering a modern and sustainable living experience tailored to Sabah’s evolving market needs.

With the Government recently having approved a RM442.3 million upgrade for KKIA to expand its capacity and enhance connectivity, the major infrastructure boost is expected to further drive real estate growth and attract more investors to the state.

NCT’s expansion into Sabah has been carefully planned to tap into the region’s growing real estate market, which has seen heightened interest due to Sabah’s economic growth and infrastructure investments.

SJSB existing directors and shareholders, Ir Herman Lee and Mr Melvin Lee are expected to continue playing key roles in the property’s development.

Ir Herman Lee added, “With NCT Alliance now on board as the major shareholder, we are excited to work in partnership to realise the vision for Ion Marina Bay. SJSB has been deeply involved in shaping this development, and with NCT’s expertise and resources, we are confident that this project will create a thriving, well-planned community that enhances Kota Kinabalu’s property landscape and bring lasting value to the state.”

Also present at the signing, Encik Ag. Ismail Abu Bakar, Director of Sharikat Pembangunan Azam Dan Galian Sdn. Bhd., the landowner of the project, stated “We are thrilled to be part of this landmark development, which will not only drive Sabah’s economic growth but also redefine its landscape. The vision behind this project will bring to life a dynamic and thriving community, creating lasting opportunities and setting standards for progress in the region.”

The acquisition of SJSB is expected to be completed by the third quarter of 2025. With a nine-year development timeline, Ion Marina Bay is poised to become one of Sabah’s most dynamic and sought-after urban developments.

LG Malaysia transforms HVAC industry through AI-driven innovation

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LG Malaysia (LG) is leveraging its outstanding core technologies, AI and intimate knowledge of different industries to deliver HVAC solutions for a smarter, more efficient future.

The company’s latest breakthrough, the DUALCOOL™ AI air conditioner leverages on the company’s enhanced AI Core-Tech. Key innovative features include the AI kW Manager, which provides users with effortless control over energy consumption. Accessible via the ThinQ app, this tool offers real-time power usage data and allows users to set customised energy-usage limits. The groundbreaking Window Open Detection technology represents a significant leap in energy-saving capabilities, switching the air conditioner to energy-saving mode when it detects sudden temperature changes.

The DUALCOOL™ AI air conditioner intelligently adapts to each user’s environment by detecting ambient conditions and automatically adjusting temperature, airflow direction, and speed for consistent comfort. The innovative Sleep Timer+ analyses user preferences and sleep patterns, creating the ideal sleeping environment by optimising temperature and operating quietly during rest hours. Additionally, the DUAL Vane™ system and Soft Air function further optimize airflow control for maximized comfort.

LG Subscribe represents a revolutionary approach to making advanced technology accessible to everyone. More than just a subscription service, it removes financial barriers that typically limit access to premium air conditioning solutions, giving businesses and homeowners easy control over their indoor environment without the burden of high upfront costs.

“LG Subscribe is our strategic vision of making advanced technology available to everyone. We’re breaking down the barriers between cutting-edge innovation and accessibility, ensuring that intelligent, life-enhancing technologies are not a luxury, but a standard that every business and household can experience. This is how we’re redefining the future of smart living,” said Justin Choi, Managing Director of LG Malaysia.

The company’s comprehensive product range spans multiple segments, ensuring solutions for diverse market requirements. From residential offerings like ARTCOOL, Premium, Classic, and Lite categories to robust commercial solutions including Single Commercial Air Conditioning, VRF, and advanced Chiller systems, LG showcases unparalleled technological diversity. The range is complemented by 360° Air Purifier and Dehumidifier solutions, embodying the company’s holistic approach to creating comfortable indoor environments.

 

BERNAS’ Gema Ramadhan programme reaches out to the urban poor

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Padiberas Nasional Berhad’s (BERNAS) annual Gema Ramadan initiative this year focused on supporting the urban poor as the company contributed food boxes comprises of basic necessities including rice and sugar, as well as “bubur lambuk” to over 1,000 resident especially single mothers, orphans and asnaf families at the People’s Housing Project (“PPR”) Hiliran Ampang.

The ceremony was graced by Titiwangsa Members of the Parliament and Minister of Plantation and Commodities YB Datuk Seri Johari Abdul Ghani, Chairman of BERNAS Dato Sri Rohani Abdul Karim, Group Chief Executive Officer of BERNAS Zulkiflee Abdul Rahman, alongside the senior management team of BERNAS.

Guests to the event also visited selected homes before the iftar session with orphans, senior citizens and single mothers organised by BERNAS at Surau Al-Falah, PPR Hiliran Ampang.

“This strategic partnership with corporate entities like BERNAS reflects the strong commitment of private companies in empowering local communities without neglecting those in need, especially during Ramadan” said Datuk Seri Johari.

“Improving the community’s standard of living has always been a priority for BERNAS. We not only provide support to low-income families but also to the urban poor who fall under the B40 category,” said Dato Sri Rohani.

According to a 2024 UNICEF Malaysia report, 41% of urban households now live below the poverty line, with women, particularly single mothers, being the most affected in 16 PPR locations.

Recognising the unique challenges faced by single mothers, orphans, and senior citizens, we developed a support programme to facilitate preparations for Ramadan and Aidilfitri, ensuring that a more joyful and meaningful celebration for every member of the community,” added Dato Sri Rohani.

BERNAS’ commitment to community development is not limited to the Gema Ramadan Programme but also encompasses initiatives such as the Program Makanan Kesihatan (Healthy Food Programme) known as PROMAK, launched in January 2022.

PROMAK is a free lunch programme for primary school students throughout the academic calendar has benefited over 20,000 students in 97 schools across five states comprising Kedah, Perlis, Kelantan, Terengganu, and most recently, Pahang.

In addition, BERNAS recently allocated an additional RM30 million to support the government’s efforts to assist impoverished rice farmers. Previously, BERNAS had distributed RM60 million to impoverished rice farmers nationwide. This action aligns with BERNAS’ ongoing commitment to fulfilling its social responsibilities under the Concession Agreement with the Malaysian Government, which includes safeguarding the welfare of the farming community.

Majority of Malaysian businesses are intrigued by potential of AI in achieving sustainability goals

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Over 76% of businesses across Asia, Europe and the Middle East are intrigued by the potential of digital technologies, including AI and cloud computing in driving sustainable development, according to the latest survey report titled “Tech-Driven Sustainability Trends and Index 2024”, commissioned by Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group. However, the substantial energy consumption associated with these technologies is still reflecting a key barrier to broader adoption, as 61% of respondents still express concerns over the matter.

The survey highlights Malaysia’s evolving stance on AI adoption and sustainability, revealing both enthusiasm and caution among businesses. Specifically

  • 76% of Malaysian businesses are actively adopting digital technologies to accelerate sustainability progress, with 77% intrigued by AI’s potential to drive sustainability innovation.
  • 62% of Malaysian businesses acknowledge the gap in understanding how digital technology can assist in achieving sustainability goals
  • 81% of businesses believe that the substantial energy consumption of digital technologies such as powering AI may outweigh its benefits
  • 75% cite security risks as a major barrier to adopting advanced digital solutions more broadly.

Regional Variations in AI Adoption and Sustainability Efforts

Despite this optimism, 59% of businesses acknowledge the gap in understanding how digital technology can assist in achieving sustainability goals with Asia leading at 63%, followed by Europe at 61% and the Middle East at 45%. Around two thirds 62% of executives believe their organisations are lagging in adopting cloud computing and AI to accelerate progress towards sustainability goals. This concern is particularly noted in Singapore 80%, the Philippines 77%, Japan 75% and Hong Kong SAR 75%, indicating a pressing need for organisations to accelerate their technological adoption to advance sustainability.

Overall, 82% of businesses agree that sustainable development in technology is paramount for their companies, with markets like Singapore 93%, the Philippines 91%, and Indonesia 89% leading the charge. Companies increasingly recognise the multifaceted benefits of adopting digital technologies for sustainability including cost savings, improved operational efficiencies, and enhanced compliance with Environmental, Social, and Governance (ESG) regulations.

AI and machine learning are viewed as the most crucial digital technologies for advancing corporate sustainability, with businesses in the Middle East 52% placing greater emphasis on their importance compared to Europe 41%, emerging Asian markets 40% and developed Asian markets 36%.

However, the survey reveals a notable concern: 61% of respondents fear that the high energy consumption associated with digital technologies may hinder widespread AI adoption. This concern is even higher in Singapore 85%, the Philippines 77% and Hong Kong SAR 75%. Furthermore, 71% of businesses believe that the substantial energy consumption of digital technologies such as powering AI may outweigh its benefits with the highest concerns from Singapore 86%, the Philippines 84% and Malaysia 81%.

The report also highlights the importance of selecting technology providers that prioritise sustainability. When selecting a “green” cloud provider, approximately half of the businesses prioritise those that use renewable energy 51%, maintain energy-efficient data centers 46%, and implement carbon footprint reduction initiatives 42%.

Malaysian Businesses Prioritise AI and Machine Learning for Sustainability but Face Adoption Challenges

The survey reveals 88% of Malaysian businesses agree it is important to the company that technology is developed sustainably. To add to the concerns highlighted earlier, 68% believe companies are lagging in cloud computing and AI adoption to meet these goals. This hesitation is driven by barriers such as knowledge gaps 38%, cost constraints 30%, and lack of technical capabilities 31%.

89% of business leaders acknowledge technology’s pivotal role in achieving global sustainability targets with Malaysian companies ranking AI/Machine Learning 46%, Collaboration and Communication tools 34%, and IoT 33% as the top three digital technologies critical to advancing corporate sustainability goals. When selecting technology providers, Malaysian businesses prioritise cost-effectiveness 52%, strong customer support 48%, and data privacy commitments 40% highlighting the key factors that influence their digital adoption strategies.

Conducted with 1,300 decision-makers across 13 markets, including Malaysia, “Tech-Driven Sustainability Trends and Index 2024” aims to provide valuable insights into the evolving landscape of corporate sustainability. The survey report underscores the essential role of technology in driving impactful change, while highlighting the need for businesses to adopt AI and cloud computing responsibly to address energy consumption concerns and bridge the gap in sustainability efforts.

Loob brings Tealive to Thailand

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Fresh from announcing the entry of Tealive into the enormous Indian market three weeks ago, Loob Holding Sdn Bhd (Loob) has revealed plans to open 80 outlets in Thailand over the next decade.

Founder and CEO Bryan Loo said it has chosen a leading local food and beverage player, Restaurants Development Co. Ltd (RD), to be its Master Franchisee. RD currently operates over 300 Kentucky Fried Chicken outlets in Thailand.

RD also happens to be a subsidiary of Devyani International Limited (DIL) of India which is the Master Franchisee for Tealive in India.

In this breakthrough collaboration with DIL and RD, Loob has made India and Thailand the 9th and 10th overseas markets for Tealive, the top regional lifestyle tea brand and home-grown flagship of Loob.
Loo expressed confidence that RD’s extensive network and industry expertise will provide a strong foundation for Tealive’s growth in Thailand.

“Tealive, known for always offering more than tea, will introduce its lifestyle tea concept to Thailand, complementing the country’s rich tea culture with additional choices of handcrafted beverages like coffee, premium chocolate and fruit smoothies as well as Tealive’s famous snacks,” he said.

“Our Thai partner is already present in hundreds of locations across the country, and Tealive will leverage this from the start. Actual store locations are still being finalised and, together, we aim for 80 outlets in 10 years.”

Reflecting similarly strong confidence in the collaboration, RD CEO Andrew Norton said: “We look forward to work closely with Loob to bring Tealive’s dynamic and contemporary tea experience to Thai consumers. With our deep understanding of the breadth and depth of the local market and Tealive’s innovative product offerings, we believe this partnership will redefine how tea is enjoyed in Thailand.”

Adding on, Loo said Tealive’s growth approach was centred on its strategic scalability. “Our priority is to adapt and expand efficiently by working closely with our local partner, ensuring that our brand resonates with Thai consumers while maintaining our commitment to quality and innovation.”

With a strong presence of over 950 outlets in various regions, including Southeast Asia, Mauritius, Canada and soon in the Middle East and India, Tealive is now ready to establish itself in a country with strong local tea culture. Thailand’s vibrant tea market, predominantly shaped by local players, presents an exciting opportunity for Tealive to introduce new and modernised beverage options tailored to evolving consumer tastes.

Liberty General Insurance supports National Kidney Foundation

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Liberty General Insurance (Liberty) has contributed over RM50,000 from its zakat wakalah funds to the National Kidney Foundation (NKF). This contribution is aimed at supporting healthcare initiatives for underserved communities in Malaysia, particularly in making dialysis treatments more affordable and accessible for lower-income patients.

The funds will assist NKF in acquiring essential medical equipment, including a far infrared therapy machine and a wireless handheld ultrasound imaging system, which are vital tools for enhancing patient care.

With the rise of chronic kidney disease (CKD) in Malaysia, where over five million individuals are affected and yet only 5% are aware of their condition, this contribution seeks to help ease a significant healthcare challenge. The Ministry of Health estimated that over 106,000 individuals will require dialysis by 2040 if the current trends continue. Through this support, Liberty hopes to assist NKF in its efforts to reach vulnerable communities and promote early detection and timely intervention.

“We are grateful for the opportunity to contribute to enhancing the quality of healthcare for Malaysians, especially those from underserved communities,” said Puneet Pasricha (Pasha), Chief Executive Officer of Liberty General Insurance Berhad.” This collaboration with NKF aims to support their efforts in providing essential healthcare to those in need, underscoring Liberty’s commitment to social responsibility.”

The Zakat Wakalah allocation is specifically designated for procuring medical equipment for NKF, which will directly aid in providing subsidized dialysis treatments to low-income households. This initiative not only supports NKF’s mission but also reflects Liberty’s on-going commitment to help ease healthcare disparities and foster sustainable change in the underserved communities.

As a one-stop national resource centre for all kidney-related matters, NKF plays a vital role in addressing healthcare disparities by providing affordable treatment options for the lower-income patients who cannot afford the high costs of dialysis at private facilities. Many beneficiaries face significant financial hardships, making access to quality medical care a critical lifeline. By contributing to NKF’s equipment needs, Liberty supports the foundation’s mission to continue its impactful work and positively transform countless lives.

This initiative aligns with Liberty’s overarching CSR strategy, which focuses on fostering sustainable and positive change within society. Through this collaboration, Liberty aims to ease the healthcare challenges faced by underserved patients, ultimately contributing to better health outcomes and a healthier Malaysia. To read more about Liberty, you may visit its website at www.libertyinsurance.com.my.

Bengkel Inovasi GLC to catalyse innovation and economic growth

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The Ministry of Finance (MOF), in collaboration with the Ministry of Science, Technology, and Innovation (MOSTI) and Cradle Fund Sdn Bhd (Cradle), announces the launch of the Bengkel Inovasi GLC (BIG), a transformative programme aimed at driving innovation across all Government-Linked Companies (GLCs). With a RM15 million allocation under Belanjawan 2025, this initiative represents a strategic step in advancing Malaysia’s economic reform agenda to ‘Raise the Ceiling’ under the GEAR-uP initiative, in alignment with the Ekonomi MADANI framework.

GEAR-uP is a national initiative that unites Government-Linked Entities to drive growth in key economic sectors, supporting Malaysia’s structural reforms under Ekonomi MADANI. In its first phase, six leading GLICs pledged RM120 billion in domestic direct investments over five years, focusing on High-Growth, High-Value (HGHV) industries such as energy transition, advanced manufacturing, and technology ventures. These investments aim to build new economic ecosystems, enhance nation-building, and uplift both Malaysia’s economic stature and the Rakyat’s quality of life.

BIG is designed to empower GLCs by fostering collaboration with startups, accelerating the adoption of cutting-edge technologies, and strengthening Malaysia’s economic competitiveness. By bridging the gap between corporate players and the startup ecosystem, the programme supports the nation’s aspiration to become one of the Top 20 global startup ecosystems by 2030 while generating high-value jobs and sustainable growth.

YB Senator Datuk Seri Amir Hamzah Azizan, Minister of Finance II, emphasised the programme’s role in driving economic transformation, “BIG is aimed at cultivating an ecosystem where innovation fuels economic transformation. This is another strategic growth lever that complements ongoing initiatives to catalyse domestic market growth and raise the ceiling under the Ekonomi MADANI framework. By enabling greater synergy between GLCs, investors, and startups, we aim to drive industry leadership and unlock new growth opportunities. This effort, aligned with our GEAR-uP initiative, underscores the Government’s focus on building a future-ready economy.”

To ensure impactful results, the programme will leverage MOSTI’s National Technology and Innovation Sandbox (NTIS) and Cradle’s extensive startup ecosystem networks to identify and support high-potential innovation projects.

YBhg. Dato’ Ts. Dr. Hj. Aminuddin Bin Hassim, Secretary General, Ministry of Science, Technology and Innovation (MOSTI), reaffirmed MOSTI’s commitment to fostering innovation, “the BIG programme reflects our unwavering commitment to integrating advanced technologies, fostering entrepreneurial thinking, and creating opportunities for sustainable growth. By bridging the gap between GLCs, startups, and innovation leaders, this programme will unlock transformative solutions to address industry challenges, empower local talent, and drive progress in high-growth, high-value industries. In doing this, we hope to elevate Malaysia’s innovation ecosystem, position the nation as a regional hub for cutting-edge ideas, and contribute meaningfully to the broader Ekonomi MADANI vision.”

Adopting a Two-Pronged Approach
The Bengkel Inovasi GLC (BIG) programme will be executed in two phases:

  1. Innovation Partner & GLC Selection – By March 2025, five GLCs will be identified and matched with selected innovation partners, laying the groundwork for impactful collaboration.
  2. BIG Accelerator, which unfolds into two tracks:
    • ‘Venture Client Model’ – Focuses on refining problem statements with GLCs, identifying high-potential startups for a 6-month accelerator programme, and developing Proof of Concept (POC) solutions supported by a 1:1 matching POC convertible grant.
    • ‘Venture Co-Creation’ – Enables GLC teams to incubate new business ventures, fostering entrepreneurship and sustainable value creation. This track includes product development, piloting solutions with business units, and securing seed investments from GLCs, GLICs, and Venture Capitalists (VCs).

The programme provides access to mentorship, funding, and technical expertise, equipping GLCs with the necessary tools to become regional innovation leaders. It is expected to spur growth in critical sectors, including energy, transportation and logistics, financial services, property, and plantations.

Norman Matthieu Vanhaecke, Group CEO, Cradle, highlighted the programme’s role in fostering collaboration between startups and corporate Malaysia, “Cradle is proud to lead this pivotal programme in collaboration with MOF and MOSTI, marking a transformative step in Malaysia’s GLC innovation landscape. BIG is designed to foster meaningful collaboration between corporate Malaysia and the startup ecosystem, driving the adoption of groundbreaking technologies and creating new opportunities for economic growth. This initiative will be a key enabler as we aim to create an inclusive, globally competitive, and sustainable ecosystem in line with our vision to grow and strengthen Malaysia’s startup ecosystem.”