CONSUMERS BUYING MORE PRIVATE LABEL PRODUCTS THAN BRANDED, NIQ REPORT REVEALS

KUALA LUMPUR, March 28 (Bernama) -- NielsenIQ (NIQ), a consumer intelligence company, in its global report has revealed challenges and opportunities for private label and branded product growth, with 53 per cent of consumers increasingly purchasing more private label products.

Simultaneously, the top 10 global brands also experienced a resurgence in global sales momentum in 2024, suggesting that retailers and consumer packaged goods (CPG) manufacturers will continue to compete for consumer attention on the shelves of large and small grocery stores and retailers alike.

In a statement, NIQ Chief Communications Officer and Head of Global Marketing COE, Marta Cyhan-Bowles emphasised that the report underscores the importance of collaboration between manufacturers and retailers to drive the next wave of CPG growth and effectively engage with consumers’ shifting preferences.

NIQ’s latest report, Finding Harmony on the Shelf: 2025 Global Outlook on Private Label & Branded Products, offers an in-depth analysis of the evolving global consumer attitudes towards private label and branded products, catalysts driving these trends globally and regionally, and important insights retailers and CPG manufacturers can keep in mind to strategically reach consumers within a fast-moving macroeconomic environment.

Key trends driving growth of both private label and branded products include a growing positive perception of private label products, with 68 per cent of respondents viewing them as good alternatives to name brands, and 69 per cent acknowledging their value.

In addition, 60 per cent of consumers would buy more private label products if a larger variety were available, and more than half of consumers (54 per cent), especially Millennials (61 per cent) and Gen Z (58 per cent), are willing to upgrade to premium-brand products.

The positive consumer sentiment is supported by impressive worldwide sales data, with NIQ Retail Measurement Services reporting a 4.8 per cent increase in sales for the top 10 global brands, slightly surpassing the 4.3 per cent annual sales growth of private labels.

To harmonise success between private label and branded products, retailers and manufacturers are encouraged to consider strategies such as leveraging the brand halo effect for private labels, where proximity to premium brands enhances their appeal, and using price anchoring to encourage consumers to try new or comparable products.

Meanwhile, for branded products, increasing traffic through retailer endorsements and market expansion in categories like ready-to-drink coffee and snack bars can create opportunities for all brands.

The report's global survey was conducted between December 2024 and January 2025, polling over 17,000 online consumers in 25 countries throughout Asia Pacific, Europe, Latin America, the Middle East & Africa, and North America. It provides valuable insights for retailers and manufacturers seeking to navigate the competitive and symbiotic dynamics of private label and branded products.

-- BERNAMA

PETRONAS FUTURETECH 4.0 SEEKS INNOVATORS TO DRIVE THE FUTURE OF ENERGY

KUALA LUMPUR, March 28 (Bernama) -- PETRONAS has launched the fourth edition of its accelerator programme, FutureTech 4.0, aimed at scaling innovative solutions that addresses real-world industry challenges and redefine the future of energy. Open for applications now, this edition will focus on driving innovation and sustainability across three key categories: Industry & Work, Energy and Chemicals & Materials.

Twenty shortlisted startups will undergo a 12-week accelerator programme, gaining access to masterclasses, tailored workshops, and one-on-one mentorship and coaching. The programme will also provide business immersion with strategic partners, access to networks, new markets, and funding opportunities, as well as pilot and test-bedding initiatives to support the scaling of their startups.

The programme will begin with an Immersion Week, which coincides with Energy Asia this June, and culminate in a Demo Day at the end of August 2025. During Demo Day, startups will present their solutions to C-suite executives from PETRONAS and its corporate partners, as well as investors and potential collaborators.

PETRONAS Senior Vice President of Corporate Strategy, Marina Md Taib said, “At PETRONAS, we believe that innovation is key to shaping a sustainable future. Through FutureTech 4.0, PETRONAS aims to cultivate a culture of innovation and entrepreneurship, while nurturing a robust tech-driven startup ecosystem in Malaysia and the broader Asia Pacific region.”

“The programme offers startups a platform to develop solutions that address industry challenges and unlock new growth opportunities while contributing to long-term socio-economic transformation. With the support of our corporate partners, startups will have the opportunity to validate their innovations, scale their solutions, and make a meaningful impact towards energy transition efforts,” she added.

The past three cohorts have attracted over 900 applicants and supported the growth of 65 startups. In collaboration with our corporate partners, S P Setia Bhd, Xplor Ventures the Corporate Venture Capital (CVC) arm of PTTEP, Bosch Business Innovations, the Bosch Group’s venture building arm, FutureTech 4.0 aims to drive innovation in the energy sector, foster the next generation of innovators, and empower startups to scale their solutions. The programme will also receive support from key startup ecosystem partners including Malaysia’s Cradle Fund, Singapore’s SGInnovate, and Japan External Trade Organization.

Applications are open until 18 April, 2025. Interested startups can find more information on FutureTech 4.0 at https://www.petronas.com/ventures/futuretech4.0/

Issued by
Media Communications
Group Strategic Relations & Communications
PETRONAS

SOURCE: PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Estee Aina Huslan
Tel: 012-2283377
Email: esteeaina.huslan@petronas.com

--BERNAMA

LIAM ELECTS BEN NG AS PRESIDENT AND VIBHA COBURN AS VICE PRESIDENT AT ITS 51ST ANNUAL GENERAL MEETING

LIAM President, Ben Ng

 

LIAM Vice President, Vibha Coburn 

KUALA LUMPUR, March 27 (Bernama) -- The Life Insurance Association of Malaysia (LIAM) has elected Ben Ng, Chief Executive Officer of AIA Bhd., as its President, and Vibha Coburn, Chief Executive Officer of Manulife Insurance Berhad, as Vice President at its 51st Annual General Meeting held on 26 March 2025.

Ben succeeded Raymond Lew, the Immediate Past President of LIAM, who served as LIAM President and Vice President for more than five years. With unwavering commitment and strategic vision, Raymond played a vital role in driving industry initiatives, strengthening stakeholder engagement, and advancing LIAM’s mission of financial inclusion and consumer protection, leaving a lasting impact on the Association and the industry.

Ben Ng brings over 30 years of experience, including 22 years abroad, demonstrating deep expertise in the life insurance industry. He is among the few Asian actuaries who hold both Fellow of the Society of Actuaries (FSA) and Fellow of the Casualty Actuarial Society (FCAS) qualifications.

Since his appointment as CEO of AIA Bhd. on 15 August 2019, Ben has led AIA Malaysia’s insurance, takaful, and private retirement scheme businesses, aligning with the company’s mission to help Malaysians live healthier, longer, and better lives. Under his leadership, AIA Malaysia has achieved transformational growth across distribution channels, leveraging digital innovation, customer-centric solutions, and data analytics. More details on Ben’s profile https://www.liam.org.my/about/?c=3&m=3&ct=1

Meanwhile, Vibha Coburn has over 30 years of experience in banking, insurance, and management consulting across Asia, Europe, and Australia, with expertise in strategy, business management, digital transformation, sales, marketing, and wealth management.

She joined Manulife on 1 October 2020 as Group CEO and Executive Director of Manulife Holdings Berhad and CEO and Executive Director of Manulife Insurance Berhad. Previously, as Chief Regional Distribution Officer for Manulife Asia, Vibha spearheaded significant agency growth, making Manulife the third-best multinational insurer in Million Dollar Round Table (MDRT) membership. More details on Vibha’s profile https://www.liam.org.my/about/?c=8&m=3&ct=1

At the meeting, LIAM also welcomes two new management committee members namely Leong Su Yern, CEO of Etiqa Life Insurance Berhad and Pauline Teoh CEO of Zurich Life Insurance Malaysia Berhad for the term 2025/2026.

The Association is also supported by five other committee members namely YBhg Dato Koh Yaw Hui, CEO of Great Eastern Life Assurance (Malaysia) Berhad; Loh Guat Lan, CEO of Hong Leong Assurance Berhad, Patrick Cheah Gim Guan, CEO of Malaysian Life Reinsurance Group Berhad, Lim Eng Seong, CEO of Prudential Assurance Malaysia Berhad and Toi See Jong, CEO of Tokio Marine Life Insurance Malaysia Bhd.

According to LIAM CEO, Mark O’Dell, LIAM has consistently championed the importance of life insurance protection for all Malaysians, striving to enhance public understanding and appreciation of life insurance through various initiatives and consumer education programmes.

"We continue to engage with the public through multiple platforms, implementing targeted education and awareness initiatives to improve financial literacy and enhance the financial well-being of Malaysians," said O’Dell.

The life insurance industry remains steadfast in its commitment to financial inclusion, supporting the national agenda to increase insurance penetration and narrow protection gaps. Moving forward, we will continue working closely with regulatory authorities and key stakeholders to foster a progressive, inclusive, and resilient life insurance industry for the nation.

About LIAM

Formed in 1974, the Life Insurance Association of Malaysia (LIAM) is a trade association registered under the Societies Act 1966. LIAM has a total of 16 members, of which 14 are life insurance companies and 2 life reinsurance companies. LIAM’s objectives are to promote a progressive life insurance industry; to enhance public understanding and appreciation for life insurance; to upgrade the image and professionalism of the life insurance industry and to support the regulatory authorities in developing a strong industry.

SOURCE: Life Insurance Association of Malaysia (LIAM)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Puan Norizan Hassan
Tel: 603-2691 6168 / 6628 / 8068
Email: liaminfo@liam.org.my
Website: www.liam.org.my
Facebook: LIAM – Life Insurance Association of Malaysia
Instagram: @liamalaysia

--BERNAMA

XSOLLA KICKS OFF JOIN PROGRAM TO EMPOWER LATAM GAME DEVELOPERS

Graphic: Xsolla

KUALA LUMPUR, March 26 (Bernama) -- Xsolla, a global video game commerce company, has expanded its commitment to Latin American (LATAM) game development with the launch of the Journey of Indies (JOIN) Program.

Powered by Xsolla, this LATAM-focused initiative is designed to help indie and mid-tier game developers scale their businesses with commercialisation tools, mentorship, and industry partnerships.

By integrating developers into Xsolla's ecosystem of commercialisation tools, this programme aims to drive innovation, expand opportunities, and generate new revenue streams, according to a statement.

“LATAM is one of the most promising and rapidly growing regions for game development. By partnering with key industry players and investing in local talent, we are committed to providing the necessary resources and knowledge to help developers turn their creative visions into successful businesses,” said Xsolla Chief Strategy Officer, Chris Hewish.

In collaboration with Institutio Conecta and Indie Hero, the initiative will leverage a grant provided by the Secretariat of Science, Technology, and Innovation of the Federal District (SECTI-DF) to establish a video game hub in Brasilia to provide a dedicated space for education, business development, and hands-on commercialisation training.

The JOIN Program aligns with game developers’ associations, industry stakeholders, and public/private entities to unlock the region’s creative potential, offering structured support via exclusive one-year access to educational programmes, mentorship & talent selection, and hands-on commercialisation training.

Additionally, the programme will facilitate industry collaborations and provide publishing and distribution support through Indie Hero’s publishing label, GoGo Games Interactive.

The JOIN Program is now open for applications encouraging indie and mid-tier studios across LATAM to take part in this unparalleled opportunity to scale their businesses with Xsolla’s expertise.

-- BERNAMA

SUPERFREEZE APPOINTS ALEX CHOI AS HEAD OF KOREA

 

Alex Choi has been appointed as the new Chief Executive Officer (CEO) for SuperFreeze in Korea.

KUALA LUMPUR, March 26 (Bernama) -- SuperFreeze, a leader in cold chain logistics, has appointed Alex Choi as its new Head of Korea, effective March 4.

Choi will play a key role in advancing SuperFreeze's mission of leading Asia’s transition to a sustainable cold chain, improving the availability of quality food and pharmaceutical products, reducing waste, and minimising carbon footprints. He will focus on driving the company's growth and sustainability initiatives in Korea.

SuperFreeze Co-Chief Executive Officer (CEO), Troy Shortell expressed excitement about Choi’s appointment, emphasising his experience and leadership in logistics.

“His deep expertise in logistics and leadership with top industry players make him the ideal person to advance our vision for a sustainable and innovative cold chain in Asia,” said Shortell in a statement.

Meanwhile, Choi expressed his commitment to strengthening SuperFreeze’s operations in Korea.

“I look forward to leveraging my experience to enhance our operations, reduce waste, and drive sustainability, ensuring we deliver exceptional value to our customers and communities,” he said.

Choi brings over 25 years of experience in the logistics industry, having held senior roles at Maersk Logistics, LF Logistics, Agility, and DB Schenker. His expertise in optimising supply chains and driving operational excellence makes him a strong addition to the team.

Choi succeeds YS Kim, who is retiring after seven years of service, during which he played a key role in establishing the Pyeongtaek site. He will also take on the responsibilities previously held by KSF CEO Duckwon Kim.

SuperFreeze extended its appreciation to YS Kim and Duckwon Kim for their significant contributions to the company’s growth and success in Korea.

-- BERNAMA

MDS GLOBAL PLATFORM TO POWER PXC’S DIGITAL TRANSFORMATION

KUALA LUMPUR, March 26 (Bernama) -- MDS Global, a provider of Business Support Systems (BSS) for digital telcos, has announced a new strategic partnership with PlatformX Communications (PXC), the United Kingdom (UK)’s wholesale provider of connectivity, voice, cloud and security solutions.

In a statement, MDS Global said with this landmark agreement, it will continue to deliver its industry-leading Converged Monetisation Platform (CMP) as a fully outsourced end-to-end monetisation service to power PXC’s ambitious digital transformation and innovation goals.

Under this partnership, MDS Global’s CMP will serve as the single strategic wholesale billing platform for PXC, supporting their plans to build a powerful altnet aggregation platform while simplifying PXC’s information technology (IT) infrastructure and merging multiple BSS environments.

MDS Global Chief Executive Officer, John Burton said this partnership highlights its commitment to work closely with customers to deliver reliable solutions that power growth and digital transformation.

“We are delighted to extend our long-standing relationship with PXC. MDS Converged Monetisation Platform will not only simplify PXC’s IT architecture, but also drive innovation and efficiency, further underpinning PXC’s leading position in the UK wholesale telecoms market,” he said.

Meanwhile, PXC Chief Technology Officer, Phil Haslam said the MDS Converged Monetisation Platform enables PXC to simplify its technology stack and drive innovation, which has been critical in its journey to become the UK's leading wholesale connectivity provider.

The platform optimises PXC’s operations and brings process automation to reduce operational costs, power innovation and deliver digital customer experiences.

This partnership is a testament to MDS Global’s track record of delivering value and ensuring effective, trouble-free operations. PXC’s decision to extend this relationship, following a long partnership history, demonstrates their trust in MDS Global’s commitment to align with their strategy and help PXC achieve their ambitious goals.

-- BERNAMA

KURA SUSHI OSAKA KANSAI EXPO STORE SET FOR OPENING ON APRIL 13

Appearance: Sustainable store that uses “plaster with no artificial materials” for exterior wall material that reuses “seashells” that would otherwise be discarded.

KUALA LUMPUR, March 26 (Bernama) -- Kura Sushi Inc, one of the world’s most popular conveyor-belt sushi chains, has announced the opening of its largest-ever Kura Sushi restaurant with a strong focus on sustainability at the Future Life Zone of the Osaka-Kansai Expo on April 13.

The company’s Director and General Manager of Public Relations, Advertising and Investor Relations Division, Hiroyuki Okamoto said the concept is to provide a dining experience filled with enjoyment and smiles for visitors worldwide.

“We will also introduce to the world a “next-generation restaurant model” that combines sustainable elements with cutting-edge technology and bring the revolving sushi culture that originated in Japan to as many people as possible,” he said in a statement.

The restaurant will be the largest in Kura Sushi's history, boasting 338 seats and the longest conveyor belt at about 135 metres. The exterior design is simple, with namako walls reminiscent of the company’s symbolic storehouse and a large image of tuna nigiri in the “Antibacterial Sushi Cover Mr Freshness” that protects the sushi from airborne dust and viruses.

Meanwhile, the interior has a luxurious, modern Japanese design with wood-grained tables and tatami-style seating surfaces, alongside a bold graphic depiction of a giant plate on the ceiling.

The exterior walls are made of “plaster without artificial substances”, created from 336,000 discarded shells, seaweed-based glue, and other natural components.

In addition, the restaurant is equipped with a system that enhances customer convenience and comfort, with a system that improves hygiene and quality control by utilising artificial intelligence and information and communication technologies.

Along with the regular sushi menu, the restaurant will also offer a sustainable menu that utilises low-use fish, such as nizadai, as part of its efforts to promote sustainable fishing, as well as a 70-course menu that recreates dishes representative of 70 countries and regions.

As of February, Kura Sushi operates 546 restaurants in Japan, 73 in the United States, 59 in Taiwan, and three in Shanghai.

-- BERNAMA