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The Russian Energy Week (REW) International Forum took place for the sixth time on 11–13 October in Moscow. The Forum was attended by government officials from various countries, heads of major energy companies and organizations, scientists, and experts. This year’s central theme was ‘The New Reality of Global Energy: Building the Future’.

“REW features specialized, industry-specific, targeted discussions with experts from all over the world. It once again brought together everyone interested in the joint development of energy and people willing to work together for the future. It’s great that foreign countries were widely represented this year. I am confident that this platform will have a direct impact on international relations as a whole and on the energy sector in particular for many years to come,” Deputy Prime Minister of the Russian Federation Alexander Novak said in comments following the Forum.

“The Forum’s business programme and REW Youth Day included over 70 events that were attended by more than 225 speakers. In total, over 5,000 delegates from 84 countries and territories took part in REW 2023. Over 1,200 representatives of foreign and Russian businesses from more than 250 companies attended the Forum. There were also 36 heads of diplomatic corps. More than 2,000 participants took part in the Youth Day events,” Advisor to the President of the Russian Federation and Executive Secretary of the REW 2023 Organizing Committee Anton Kobyakov said.

A programme built on four pillars

The Forum programme was built on four pillars: ‘The International Agenda’, ‘The Development of the Fuel and Energy Sector’, ‘Scientific and Technological Development, and the Digital Transformation’, and ‘Sustainable Development and the Climate’. The Forum also included bilateral meetings, negotiations, and business breakfasts.

The key event in the Forum’s business programme was the plenary session, which was attended by President of the Russian Federation Vladimir Putin and Prime Minister of Iraq Mohammed Shia’ Al Sudani. The discussion was moderated by Al Ghad TV journalist Amr Abdelhamid.

The session ‘The Global Oil and Gas Market: Navigating a Period of Turbulence’, with the participation of Deputy Prime Minister of the Russian Federation Alexander Novak, generated significant attention among participants. It was also attended by Caretaker Federal Minister of Energy of the Islamic Republic of Pakistan Muhammad Ali, Prime Minister of the Republic of Srpska Radovan Viskovic, Minister of Petroleum of the Islamic Republic of Iran Javad Owji, Executive Vice President of the Bolivarian Republic of Venezuela Delcy Eloina Rodriguez Gomez, and Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov.

Another key event was the Global Energy Association’s ‘Building the City of the Future’ session, which was attended by Moscow Mayor Sergey Sobyanin, Sberbank CEO and Chairman of the Executive Board Herman Gref, as well as foreign guests: Deputy Director for Information Technology of China’s State Grid Corporation Jiye Wang and Point Systems Zrt Founder and CEO Laszlo Kovacs.

The Joint Intergovernmental Russian-Saudi Commission held a meeting during Russian Energy Week. In addition, Deputy Prime Minister and Minister of Industry and Trade of the Russian Federation Denis Manturov and Deputy Prime Minister of the Russian Federation Alexander Novak held a meeting of the Coordinating Council under the Government Commission on Import Substitution on ways to substitute imports of oil and gas equipment.

‘Global Energy’ and ‘Energy of the Pen’ Prizes

An official ceremony was held during REW 2023 to present the Global Energy Prize for outstanding scientific research and scientific-technical developments in the field of energy. This year, the prize was won by scientists from China. Beijing Institute of Nanoenergy and Nanosystems Founding Director Zhong Lin Wang was awarded in the Non-Conventional Energy category. Ruzhu Wang emerged as the laureate in the New Ways of Energy Application category. During the ceremony, an Honorary Diploma was presented to Ljubivoje Popovic on behalf of the Global Energy Association.

In addition, REW 2023 hosted an award ceremony for the winners of the ‘Energy of the Pen’ international media competition. A total of 262 applications from Russia and 23 other countries were received. The winners were selected by a panel of judges.

Selangor’s 2025 Low Carbon Smart City Vision, Synergy ESCO is furthering its commitment to sustainable practices through the introduction of the “Light Source in Darkness” program. This initiative aims to help strata buildings in Selangor conserve energy and reduce carbon emissions by facilitating the installation of Synergy ESCO’s energy-efficient LED lights at no upfront cost.

The Green Initiative Program symposium, a pivotal part of this event, where the Green Pioneer Recognition Awards were presented to Alex Mathew, the Building Manager at Geo Bukit Rimau, and Ken Teo, the Principal at Gather Building Management for 3 Elements for their exceptional contributions to promoting and implementing the Green Initiative program in Selangor.

Alex shared his first-hand experience and positive feedback about participating in the program.  “From my experiences of managing the building for the past 8 years, it was just unbelievable that we can further reduce our energy consumption with Synergy. So, to progress further, they came with the equipment to do the testing in our condo. From that, it was evident that we were using our 18 watts and 22 watts LED light, and we could actually bring it down to 5 watts, and the brightness was still maintained.”

The newly appointed Selangor State Executive Councillor for Housing and Urban Wellbeing, YB Borhan Aman Shah emphasized the crucial role of collective efforts in achieving Selangor’s vision for a sustainable future in his welcoming speech. He stated, “The State Government has set a goal to install 10% of LED lights across Selangor by December 2023. This goal can contribute to energy savings equivalent to preserving 1.3 million trees every year and reducing carbon dioxide emissions by 51 tons annually. These figures represent a significant contribution to mitigating the impact of climate change and can only be achieved with the commitment of Joint Management Bodies and Strata Properties Management Corporations across Selangor.”

Synergy ESCO’s LED lights are patented and durable, with a lifespan of up to 10 years and no maintenance required. They consume only 5 watts while delivering 210 lumens, as opposed to traditional LED lights that use 18 watts. This translates to energy savings of up to 80% compared to other LED lights on the market. Synergy ESCO’s green technology contributes to lowering global temperatures and reducing CO2 emissions.

Initially focused on commercial buildings, Synergy ESCO now aims to extend the program to strata buildings, encompassing all 6,000 strata buildings in Selangor. Ally Tai, the Chief Operating Officer of Synergy ESCO, explains, “Our mission is to implement energy-saving protocols capable of saving 100 million trees over a decade. This mission aligns with our goal to benefit the community, as mentioned earlier by YB Tuan Haji Borhan Aman Shah.”

The “Light Source in Darkness” program offers strata buildings in Selangor an opportunity to reduce energy consumption and associated costs without any upfront payment. By joining this initiative, participants not only make a significant impact on energy conservation but also contribute to a greener environment. This echoes the call to ‘Go Green Now, No Plan B!’ as there is no alternative plan for addressing environmental challenges and combating climate change, and the time for action is now.

Learn more about the program at https://synergy-group.com.my/green-initiative.html

iElder.asia, a leading e-commerce company, sets its sights on the US, Korea, Arab Saudi, Singapore, Brunei, and Australia in its 2024 market expansion strategy, aligning with the evolving e-commerce landscape. With a forward-looking approach, it aims to improve tech-driven elderly care solutions for seniors’ essential service accessibility while closely partnering with healthcare professionals such as doctors, nurses, and home nursing providers who handle product inquiries.

“The elderly are the most vulnerable population in the world, and they are especially affected by the pandemic. Malaysia is officially categorised as an ageing nation because the proportion of individuals aged 65 years and older is projected to reach 7.3% of the total population this year. To further address these critical needs, we also have plans to establish iElder in Penang and Johor for the domestic market,” said Founder of iElder Asia, Dr. Kong Why Hong.

“With this realisation, iElder Asia provides a safe and secure online environment for senior citizens to access the services they need without stepping out of their homes. Through the company’s e-commerce website, users can compare prices of various elderly care items, book appointments for medical consultations, and purchase supplies while enjoying convenience and affordability. In a time when the elderly are often the forgotten demographic, we wanted to make sure their needs are not overlooked,” elaborated Dr. Kong.

iElder Asia was founded with the vision of providing elderly people with access to the necessary resources, support, and assistance for a better life. Its web platform is a one-stop solution for providing everything for elderly care, including new products, short-term rentals, and selling used medical equipment. The platform helps customers find new buyers for equipment they no longer need through their second-hand collection page, iElder.

The icing on the top is that iElder Asia also offers customer service support to ensure all users’ queries and concerns are duly addressed. The team is committed to providing the best user experience by evaluating and responding to individual customer needs. iElder Asia actively caters to B2B and B2C segments, including supplying to hospitals, clinics, pharmacies, nursing homes, and corporate companies as well as end users.

Besides, iElder Asia has established a loyalty-focused membership program, and the product range has expanded to include disposable items, enhancing customer relationships. The company also offers flexible payment plans, with instalments up to 24 months.

“Our tagline is – Elderly Care Made Simple! With our solutions, your loved ones will enjoy a higher quality of life and mental well-being,” enthused Dr. Kong.

In a heartfelt revelation, Co-Founder Olivia Quah shared her journey that inspired the creation of iElder.asia’s e-commerce division, saying, “A few years ago, my Mom’s shower fall triggered my dedication. Her hour-long struggle to contact me, coupled with my father’s dementia, emphasised the need for tech-driven, accessible solutions for senior citizens.”

“My father’s inability to recall my contact number intensified the situation. When the call came, it became a race against time to return home and provide my mother with the necessary medical attention.” This personal experience forms the core of iElder.asia’s dedication to enhancing elderly care.

“iElder Asia is playing an increasingly important role in improving the lives of elderly people across the country. By combining traditional elderly care services with the power of technology, they are able to bridge gaps in elderly care and improve the quality of life for many senior citizens. Our commitment extends beyond iElder, encompassing an omnichannel strategy that involves supplying hospitals and distributing to pharmacies and medical stores,” Olivia added.

iElder has been shortlisted as a top E-commerce Merchant in 2021, 2022, and 2023. Additionally, the Co-Founder achieved the title of Winner for The Resilience 30 Women Awards in 2022 and secured the third-place position in the NAWEM Women Entrepreneur Award for 2023.

At a time when the world is rapidly changing, iElder Asia is leading the way in providing innovative services to the elderly throughout Asia. For more information about iElder Asia, please visit www.ielder.asia.

Generali Malaysia launched its first model branch located at Pusat Komersial Saujana, Seremban 2 Heights. As Generali’s first model branch, the Seremban branch provides an integrated insurance experience to better serve customers. It offers a full suite of General and Life Insurance from medical and health, to savings and life protection, motor and home, travel and personal accident, as well as business and commercial insurance, all under one roof. Both Generali’s General and Life Insurance branches at Seremban have also relocated to this new premise, effective 25 September 2023.

With the relocation and launch, Generali has reinvented the design of its model branch to provide more experiential spaces and customer focused experiences through phygital ((physical plus digital) advisory and solutions. The contemporary new look and setup are curated with elements of functionality, inclusiveness, and technology, which highlight Generali’s ongoing commitment to sustainability, innovation, and customer-centricity.

Chief Executive Officer of Generali Insurance Malaysia Berhad and Country Head for Generali Entities in Malaysia, Fabrice Benard, shared that this is part of Generali’s brand refresh strategy to support the transformation of its branches nationwide and cater to customers’ increasing demand for holistic yet personalised experience.

“Having served the locals here at Seremban for decades, we are very proud to continue on this meaningful journey to support the city with a unique yet integrated insurance experience, serving both general and life insurance solutions under one roof and at the same time advancing our sustainability commitment and providing job opportunities to the locals,” said Fabrice.

The new Seremban branch houses a customer service area on the ground floor with several functional private discussion rooms. Customers are welcome to walk in for over-the-counter services or engage in conversations privately with their dedicated servicing officer in the discussion rooms. The open concept is also designed to provide a collaborative setting for Generali’s employees and agents to work and engage together.

Fabrice added, “Despite the digital age that we are in, we believe that insurance is one of the many services that still require the warmth of a human touch. Hence we are determined to advance our omnichannel strategy to better serve customers in their preferred manner, be it through their servicing agent, branch, or digital platform. In the coming year, our branches nationwide will model after the Seremban branch and progressively transform into multi-functional spaces to foster greater engagement and long-lasting relationships with our customers. We will also continue to invest in our digital touchpoints for customers’ easy accessibility and convenience.”

The Seremban branch is now open and ready to serve from Monday to Friday, 8:45 a.m. – 5:00 p.m. (excluding public holidays).For more information, please visit the branch locator on Generali Malaysia’s official website.

Export-Import Bank of Malaysia Berhad (“EXIM Bank”) announced today a country dialogue with Djibouti under the newly formed “Malaysia Global Connect” platform. The platform aims to foster dialogue, collaboration and knowledge sharing on critical topics shaping the world of international trade. The Malaysia-Djibouti talk included a briefing by the Director General of Djibouti National Investment Promotion Agency (NIPA), a talk by Chairman of Waafi Bank about business opportunities in Djibouti and a briefing by EXIM Bank’s Chief Business Officer on the Bank’s Trade Finance Solutions.  MATRADE presented the reality of doing business with Djibouti together with the honest discussion with Malaysian participants by MATRADE. Attended by over 50 export-ready companies, this initiative underscores EXIM Bank’s commitment in facilitating international trade and economic growth.

This initiative is a collaboration with Malaysia External Trade Development Corporation (MATRADE) with the aim to strengthen Malaysia’s presence in international markets through targeted trade promotion activities, capacity building, and market access support. The collaboration leverages MATRADE’s extensive global network and EXIM Bank’s financial expertise to provide comprehensive support to Malaysian exporters and investors.

EXIM Bank President and Chief Executive Officer Arshad Ismail stated: “We are excited about the Malaysia – Djibouti Business Forum as it aligns perfectly with our mission to promote Malaysia’s trade interests globally. Africa, with its dynamic economies and emerging markets, presents an array of opportunities for Malaysian businesses. EXIM Bank is committed to assisting Malaysian enterprises in their quest for success in Djibouti and beyond.”

MATRADE Senior Director, Mr. Amran Yem stated: “Through this collaboration with MATRADE, we aim to provide holistic support to Malaysian exporters, enabling them to tap into new markets, establish international partnerships, and contribute to Malaysia’s economic growth is aligned with the agenda of National Trade Blueprint (NTBp).

EXIM Bank has consistently played a pivotal role in enhancing Malaysia’s global trade footprint. With a focus on fostering partnerships and supporting international trade ventures, the Bank has been instrumental in connecting Malaysian businesses with the world, by fostering dialogue, collaboration and knowledge sharing on critical topics shaping the world of international trade.

The country dialogue provides a briefing about the Malaysia – Djibouti Business Forum that is scheduled to take place in Djibouti on 29 to 30 November 2023. It will bring together key stakeholders, including government officials, business leaders, and industry experts, to discuss strategies for enhancing bilateral trade relations and investment prospects. The forum will deliver a special address by Djibouti’s Minister of Economy and Finance, the Chamber of Commerce and also a presentation from the Ports and Free Zones Authority.

The Malaysia – Djibouti Business Forum is set to be a milestone event, showcasing MATRADE and EXIM Bank’s commitment to nurturing trade and economic relations between Malaysia and Djibouti. As Malaysia continues to expand its global footprint, EXIM Bank stands as a key facilitator, offering tailored financial solutions and comprehensive support to empower Malaysian businesses in their international endeavours.

Any companies interested to attend the Malaysia – Djibouti Business Forum in Djibouti from 29 to 30 November 2023, can register their interest with EXIM Bank Malaysia at https://forms.office.com/r/upRPv6EJjC.

Maybank Asset Management (“MAM”), fully owned by Maybank Asset Management Group (“MAMG”), in collaboration with BNP Paribas Asset Management, expanded its Environmental, Social and Governance (ESG) product offerings with the launch of the MAMG Green Tigers Fund (“the Fund”), a qualified Sustainable and Responsible Investment (SRI) fund under the SC’s Guidelines on Sustainable and Responsible Investment Funds.

The Fund is a feeder fund that aims to achieve capital growth by investing in the BNP Paribas Funds Green Tigers (“the Target Fund”). The Target Fund seeks to achieve sustainable returns over the longer term by investing in fast growing and innovative Asia-Pacific companies providing disruptive environmental solutions.

Ahmed Muzni Mohamed, Chief Executive Officer of Maybank Asset Management said, “We had a great collaboration with BNP Paribas Asset Management last year with the launch of MAMG Global Environment Fund, and we are happy to add the MAMG Green Tigers Fund to our suite of ESG/ Sustainable and Responsible Investment (SRI) funds.

This Fund comes at a critical but opportune moment in Asia as rapid urbanisation, constrained resources, supportive government sustainability policies and demand for industrial efficiencies are driving support for sustained investment in the Asian Environmental Market.

With the MAMG Green Tigers Fund, local investors can gain exposure to the six (6) environment market themed equities, generate sustainable and reliable returns whilst adhering to ESG regulations. Furthermore, the Fund is aligned with the UN Sustainable Development Goals (SDGs) which are clean water and sanitation; affordable and clean energy; industry, innovation and infrastructure; sustainable cities and communities; and responsible consumption and production*,” Muzni says.

Daniel Choong, Chief Executive Officer of BNP Paribas Asset Management Malaysia added, “Our future is being shaped by powerful long-term trends. Half of the world’s GDP is dependent on our precious natural resources, and this is exacerbated by our consumption rate which is 1.75 times faster than the earth’s ability to regenerate itself. Moreover, global population growth and rising income have resulted in an urgent need to restore damaged ecosystems. These challenges bring out significant investment opportunities in Asia-Pacific environmental thematic markets.

The financial sector has a critical role to play in creating a positive environmental impact and we are proud to have jointly launched the MAMG Green Tigers Fund with Maybank Asset Management.  This fund aims to take advantage of resources targeted at long-term growth through investments in Asia-Pacific companies that are focused on designing cutting-edge solutions within the environmental markets including renewable energy, circular economy, and sustainable food and agriculture.

We are glad to bring our innovative thematic solutions to a reputable player like Maybank Asset Management, while meeting investor requirements for financial returns combined with a positive environmental impact.”

Why Invest in MAMG Green Tigers Fund

The Fund seeks to gain exposure to the full spectrum of opportunities within Asian equities, focusing predominantly on fast growing and disruptive companies providing environmental solutions, via the Target Fund. The Fund will invest a minimum of 90 per cent of its net asset value in the Target Fund, suitable for investors who seek potential medium to long term capital appreciation; and are willing to tolerate the risks associated with investing in the Target Fund.

The base currency of the Fund is in USD and is offered in five (5) currency classes, namely USD Class, MYR Class, MYR-Hedged Class, AUD-Hedged Class and SGD-Hedged Class. The minimum investment amount is USD1,000 for USD Class, RM1,000 for MYR and MYR-Hedged Class, AUD1,000 for AUD-Hedged Class and SGD1,000 for SGD-Hedged Class.

The MAMG Green Tigers Fund is available exclusively at MAM’s authorised distributors’ branches nationwide. For more information, visit https://www.maybank-am.com.my

The Russian Energy Week International Forum (REW 2023) will be held in Moscow from 11-13 October. The participants will discuss the prospects for energy cooperation between Russia and the world’s largest emerging economies including China, India, and the African countries. One of the key topics of the upcoming Forum is the impact of the restructuring of transportation and logistics corridors on the global energy sector.

The structural change is on the way

“The global oil trade is undergoing a major structural change. Middle Eastern countries, which used to play an important role in providing commodities to the growing economies of East Asia, are now increasing their oil supplies to Europe. In turn, Russia has sharply increased its oil exports to India, China, and some other Asia Pacific countries. Additionally, Latin American countries, including Brazil and Guyana, with a commensurate shipment distance to Europe and Asia Pacific countries, are playing an increasing role in the oil market,” said Adviser to the President of the Russian Federation and Executive Secretary of the REW 2023 Organizing Committee, Anton Kobyakov.

The shifts in the oil market impacts its future

Stating that the global oil market continues to try to adapt to the current geopolitical events, “Russian oil, despite the restrictions imposed, enters various markets with a changed price structure. Logistics have become more complicated and expensive, as oil tankers have to travel long distances to deliver raw materials and petroleum products. The impact of these shifts on the future of the oil market will be one of the most important topics of the upcoming Russian Energy Week,” Kobyakov added.

Almost half of the supply goes to 3 countries

The largest importers of Russian refined products in August 2023 were Turkey, India, and the UAE. These three countries accounted for 46% of marine supplies from the Russian Federation (1.04 million out of 2.27 million b/d). The role of Brazil, China and Malaysia is becoming increasingly significant: These regional consumers accounted for a total of 18% (397,000 b/d) of the total structure of Russian oil products supplies.

Singapore, which is actively developing its oil product hub, accounted for another 7% of the Russian Federation’s refined products shipments (152,000 b/d) in August. Greece and Malta

also play a notable role: Transshipment of petroleum products takes place in the territorial waters of these EU countries, making the total share of these countries in exports in August of 2023 8% (191 b/s).

Logistics flows to be restructured

“The restructuring of logistics flows is not just a beautiful slogan, but a solid fact. For example, in August 2023, the top 20 leading importers of petroleum products from the Russian Federation included 9 African countries: Algeria, Ghana, Egypt, Libya, Morocco, Nigeria, Senegal, Tunisia, and Togo. The volume of marine supplies of petroleum products from Russia to these countries reached 411 thousand barrels per day (b/d), and their share in the structure of Russian exports amounted to 18%,” says Igor Yushkov, an expert from the REW Energy Club.

In general, according to Igor Yushkov, the volume of offshore supplies of oil products from Russia has decreased by about 780,000 b/d over the past few months. This is primarily due to Russia’s commitments to reduce oil production under the OPEC+ deal.

Supported by the Moscow City Government, the Russian Energy Week International Forum is organized by the Ministry of Energy of the Russian Federation and the Roscongress Foundation, which is a socially oriented non-financial development institution and a major organizer of conventions, exhibitions and business, public, youth, sporting, and cultural events.

Geno Asia, a prominent figure in the agricultural industry, took center stage at Agri Malaysia 2023 by unveiling its groundbreaking innovation, the Micropur TDCA Sprayer. This game-changing technology provides a glimpse into the future of efficient and sustainable agriculture, promising to reshape herbicide application practices in Malaysia’s oil palm sector.

The Micropur TDCA Sprayer stands out with its remarkable capability to reduce labor costs by an astounding 75%. In the context of mature oil palm weed control, it outperforms conventional knapsack sprayers (CKS) by delivering four times the efficiency. This impressive feat is achieved by significantly minimizing the volume of water required for herbicide spraying.

Lai Seow Pheng, the Managing Director of Geno Asia, emphasized the significance of this innovation for Malaysia’s oil palm industry. He stated, “The Micropur TDCA Sprayer represents a game-changer for our local farmers and the entire oil palm sector. It not only enhances productivity but also aligns perfectly with our commitment to sustainability and resource conservation. As the sole distributor in Malaysia for this innovative product, we believe it will make a lasting impact on agriculture in the country.”

Geno Asia’s active participation in Agri Malaysia 2023 showcased its dedication to introducing cutting-edge solutions to the agricultural sector. The exhibition, attended by 10,000 people and featuring over 450 exhibitors, provided a pivotal platform for industry leaders and stakeholders to explore the latest innovations. The event highlighted advanced technologies and sustainable farming practices, fostering knowledge exchange and collaboration. It is recognized by the Malaysia External Trade Development Corporation (MATRADE) for meeting international standards.

“As Malaysia’s oil palm industry prepares to embrace the transformative potential of the Micropur TDCA Sprayer, the nation’s agriculture sector will become more efficient, with significant cost reductions and an unwavering commitment to sustainability,” enthused Lai.

For more information about Geno Asia and the revolutionary Micropur TDCA Sprayer, please visit www.genoasia.com.