Jump Into Dust-Filled Fun Of Dusty Derby, Now Available In Early Access

KUALA LUMPUR, Nov 29 (Bernama) -- Geniesoft Inc, a South Korean video content platform developer, has officially launched the Early Access version of ‘Dusty Derby’ on Steam.

It is a massively multiplayer online (MMO) battle royale game where players compete as adorable dust characters in a quest to become the “King of Dusts”, according to a statement.

Set in whimsical household environments, players navigate through missions and battle other players to emerge victorious in a fun and accessible experience suitable for all ages.

'Dusty Derby' supports up to 32 players in a single match, offering a casual battle royale experience where players can compete solo or with friends.

The Early Access version includes three stages within each of the three primary settings, namely the living room, bathroom, and kitchen, providing a total of nine unique stages. Future season updates will introduce additional themed settings, such as offices, restaurants, and schools.

The game stands out for its intuitive controls, allowing players of all ages and genders to easily roll their dust characters and engage in strategic moves, such as speeding up, attacking opponents, and throwing objects.

Adding to the excitement, Geniesoft has introduced stage-specific missions, such as dodging vacuum cleaners or deactivating fans, which heighten the sense of tension by adding a new layer of gameplay mechanism.

Character customisation is a key feature, with players able to personalise their dust characters through a variety of colours, materials, facial expressions, accessories, and costumes. Geniesoft plans to further expand the customisation options, enhancing the player experience with social features such as an in-game store and friends list.

'Dusty Derby' has already garnered attention at major gaming events since it was first unveiled across Asia, including G-STAR 2024, and recently hosted a successful 'Dusty Derby Tournament' featuring 32 prominent virtual video game content creators from Indonesia, further building excitement for its global success.

-- BERNAMA

JOHOR PLANTATIONS GROUP SETS BENCHMARK IN CORPORATE REPORTING WITH A PLATINUM AWARD WIN AT NACRA 2024

Head of Commercial and Sustainability Division, Wan Adlin Wan Mahmood, received the NACRA award for JPG. JPG was awarded Platinum under the Excellence Award in the Non-Listed Category at the NACRA 2024 for its inaugural Integrated Report 2023.

KUALA LUMPUR, Nov 29 (Bernama) -- Johor Plantations Group (JPG) is pleased to announce that it has been awarded the Platinum accolade under the Excellence Award in the Non-Listed Category at the National Annual Corporate Report Awards (NACRA) 2024. This recognition, awarded for its inaugural Integrated Report 2023, underscores the company’s commitment to corporate transparency, exemplary governance and forward-thinking sustainability practices.

The NACRA award is a hallmark of excellence in corporate reporting, honouring organisations that demonstrate outstanding practices in integrity and accountability. In the Non-Listed Category, JPG shared the spotlight with notable industry leaders including Petroliam Nasional Berhad (Petronas), the Gold Award recipient, and Credit Guarantee Corporation Malaysia Berhad, which received the Silver Award.

"We appreciate the recognition from NACRA for our 2023 corporate report. This award reflects our continued focus to provide clear, accurate and transparent reporting as well as our commitment towards upholding the highest standards of corporate governance as we transition into a next-generation palm oil company. With this recognition, we are inspired to continue raising industry benchmarks across our business,” said Mohd Faris Adli Shukery, Managing Director of Johor Plantations Group Berhad.

JPG’s Integrated Report 2023 highlights the Group’s efforts to improve its corporate reporting practices to ensure that its stakeholders receive a comprehensive understanding of its performance, strategies, and commitment to sustainability. The NACRA Platinum Award comes at a pivotal moment for JPG, following its listing on Bursa Malaysia on 9 July 2024. As the Group navigates its new role as a publicly listed entity, the recognition highlights its readiness to meet the heightened expectations of stakeholders, regulators and the broader investment community.

The company is committed to continue creating value for its stakeholders while further strengthening its corporate governance and sustainability practices, solidifying its position as a trusted leader in the industry.

About Johor Plantations Group Berhad

Established in 1978, Johor Plantations Group Berhad (JPG), is a subsidiary of Kulim (Malaysia) Berhad, which in turn is a subsidiary of Johor Corporation (JCorp). JPG is principally involved in the production of crude palm oil and palm kernels. It primarily owns, manages, and cultivates oil palms and harvests fresh fruit bunches produced on the plantation estates that it owns or rents in Malaysia, primarily in the state of Johor. The subsidiaries of JPG are principally involved in the production of palm oil and palm kernels, production of biomethane, trading of agricultural machineries and parts for plantation use, selling of oil palm seedlings and other plantation products and services, provision of training and safety-related services along with the supply of safety products and refining of oil palm and trading of palm oil products.

For more information, please visit www.johorplantations.com

SOURCE: Johor Plantations Group Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Johor Plantations Group Berhad
Name: Dalilah Ibrahim
Head of Corporate Communication
Tel: 012-328 1727
Email: dalilah@johorplantations.com

Perspective Strategies Sdn Bhd
Name: Amiruddin Azran
Tel: 011-1145 2867
Email: amiruddin.azran@perspective.com.my

--BERNAMA

Mavenir Wins Glotel Awards For Advancing AI In Telecom

KUALA LUMPUR, Nov 28 (Bernama) -- Mavenir, the cloud-native network infrastructure provider, has won the Advancing Artificial Intelligence Global Telecoms (Glotel) Award for its Network Intelligence as a Service (NIaaS).

Applying state-of-the-art artificial intelligence (AI)/machine learning (ML) to telco operations, Mavenir in a statement said its NIaaS elevates problem-solving and decision-making capabilities to improve the user experience.

Its Senior Vice President and General Manager of Cloud, AI & IMS Business Strategy, Brandon Larson said the future of the telecom industry lies with autonomous networks, and communication service providers (CSPs) need to rapidly adopt AI in their operations to remain relevant.

“Mavenir’s NIaaS applies state-of-the-art AI in telecom operations to build the future of networks today, enabling CSPs to offer advanced services and improved user experience to their consumers at a lower cost and realise enhanced operational efficiency,” he said.

Enhancing resource efficiency and reducing cost, NIaaS is an integral part of Mavenir’s market-leading portfolio of solutions enabling autonomous 5G networks.

As network operations become increasingly complex, the capability of autonomous networks has become crucial, with Mavenir’s solutions for autonomous networks leveraging leading open-source frameworks – spanning K8s/container cloud, GitOps-based cloud-native automation, and state-of-the-art AI/ML algorithms – and optimising them for the unique needs of CSPs.

In commercial service, Mavenir’s NIaaS has elevated problem-solving and decision-making capabilities of operational personnel, enabling them to improve network operations productivity, enforce service level agreements, enhance end-user experience, and utilise network resources more efficiently.

The NIaaS provides a visualisation layer displaying the inferencing of output of the ML model in a user-friendly manner, enabling telco operations personnel who do not have a background in data science to easily understand the output of the ML models.

In addition, NIaaS creates a digital twin of the operational network, using generative AI models, to derisk closed-loop operations, whereby the digital twin serves as a live test tool to evaluate optimisation actions suggested by NIaaS, before implementing them on the live network.

-- BERNAMA

Blackstone, Santander Finalise US$1 Bln Infrastructure Loan Portfolio Deal

KUALA LUMPUR, Nov 27 (Bernama) -- Blackstone and Santander Corporate & Investment Banking have reached an agreement under which funds managed by Blackstone Credit & Insurance (BXCI) will acquire interests in a US$1 billion portfolio of high-quality infrastructure loans from Santander. (US$1=RM4.45)

According to a statement, the portfolio comprises loans that finance assets located largely in Western Europe and the United States (US) across the digital infrastructure, utility scale renewable, energy efficiency and transportation sectors.

BXCI Managing Director, Jacob Nowack noted the importance of the deal in further expanding its relationship with Santander, aligning with Blackstone’s deep roots in the infrastructure credit market and BXCI’s growing investment presence in Europe.

Meanwhile, Santander CIB Global Head of Private Debt Mobilization, Marcel Patiño said: “We are delighted to partner with Blackstone on this strategic transaction as we look to streamline our balance sheet while supporting further growth by Santander as a leading advisor and arranger in the Structured Finance space.”

Santander CIB is one of the leading banks globally in energy and infrastructure advisory, offering tailored financial solutions to both corporate and institutional clients.

BXCI’s Infrastructure and Asset Based Credit platform manages over US$80 billion and has over 70 investment professionals, among the largest in the asset-backed marketplace.

The platform focuses on investment-grade credit, non-investment-grade credit, and structured investments across the real economy in sectors such as digital infrastructure, energy transition infrastructure, consumer finance, commercial finance, and residential real estate.

-- BERNAMA

LIAM CHIEF EXECUTIVE OFFICER MARK O'DELL HONORED WITH LIFETIME ACHIEVEMENT AWARD AT THE 28TH ASIA INSURANCE INDUSTRY AWARDS 2024

 

Ms Daisy Tsang, Chief Executive Officer, HSBC Insurance (Asia) & HSBC Life (International), presenting the Lifetime Achievement Award to Mark O’Dell, LIAM CEO at the 28th Asia Insurance Industry Awards ceremony.

KUALA LUMPUR, Nov 28 (Bernama) -- Mark O’Dell, Chief Executive Officer of Life Insurance Association of Malaysia (LIAM) was honored with the prestigious Lifetime Achievement Award for his outstanding contributions to the insurance industry at the 28th Asia Insurance Industry Awards 2024. The ceremony, organised by Asia Insurance Review, was held at the Marina Bay Sands Expo and Convention Centre, Singapore.

The Lifetime Achievement Award recognises Mark O’Dell’s 44-year career in the insurance industry celebrating his unwavering dedication, vision, and impactful contributions. This accolade underscores his role as a transformative leader and his lifelong commitment to advancing the sector.

The awards ceremony highlighted excellence across the insurance industry with winners selected by a distinguished panel of judges comprising regional and international market leaders, association heads, and regulators.

Appointed as LIAM CEO in 2019, Mark O’Dell has been instrumental in embedding four strategic pillars into the core of LIAM operations: Advocacy, Public Awareness and Education, Industry Development and Industry Support. These pillars have become the foundation of LIAM’s initiatives, enabling it to be effectively represent its 16 member companies as a unified voice for the industry.

Under Mark’s leadership, LIAM has undergone a significant transformation, strategically refining its vision and mission to elevate the life insurance industry in Malaysia. His forward-thinking approach, innovative strategies, and steadfast commitment have positioned the Association as a reputable and influential organization, recognised both locally and internationally.

Mark is an internationally acclaimed speaker, frequently sharing his insights and expertise at global life insurance conferences.

His leadership has driven LIAM’ proactive efforts to align with the Financial Sector Blueprint 2022-2026, focusing on increasing insurance penetration rate in Malaysia; ensuring the sustainability and affordability of private medical and health insurance; supporting digital transformation within the industry; strengthening skills development, professionalism, and distribution networks; addressing the impact of climate change, risk management, and disclosures; enhancing product transparency and customer experience through better disclosure practices; increasing consumer education via active engagement with the Financial Education Network platform; and encouraging public-private partnerships to address catastrophic risks.

In conjunction with LIAM’s 50th Anniversary this year, Mark has been at the forefront of spearheading initiatives such as financial education programmes, social media awareness campaigns, Corporate Social Responsibility projects and ESG initiatives, all aligned with the FSBP 2022-2026 objectives.

As LIAM celebrates this milestone anniversary, Mark’s unwavering leadership continues to drive the Association’s mission to develop a progressive life insurance industry to serve the nation’s needs and raises awareness about the importance of life insurance protection.

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
Head of Corporate Communications
Life Insurance Association of Malaysia
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

TII's Open-Source AI Summit Highlights Key Discussions On The Future Of AI

KUALA LUMPUR, Nov 27 (Bernama) -- The Open-Source AI Summit Abu Dhabi has kicked off with critical dialogues that will shape the global artificial intelligence (AI) agenda, for two days beginning Nov 26, at the St. Regis Saadiyat Island.

Hosted by the Technology Innovative Institute (TII), a global applied science research centre, the summit with over 300 in attendance, converged with growing international focus on the pull and push between open- and closed-source AI.

TII Chief Executive Officer, Dr Najwa Aaraj, who opened the summit, referred to the event as a pivotal moment for global AI discourse.

“Falcon, like other open-source models, unites scientists, developers, and innovators to accelerate technological advancements as a catalyst for global change. We look forward to seeing the impact it will continue to have, particularly as we continue our work with the Falcon Foundation,” she said in a statement.

The summit agenda continued with discussions from renowned speakers, including the United States’ Adeia Corporation Vice President, Dr Belgacem Haba, who spoke about the challenges that AI has created in the semiconductor manufacturing industry.

Meanwhile, Oxford University Professor and Chief Scientific Advisor, Prof Philip Torr spoke about the ownership of AI, touching on potential drawbacks as well as regulation, and arguing that in the long-term, the benefits of open-source AI outweigh the risks.

On the other hand, TII’s AI Research Centre Chief Researcher, Dr Hakim Hacid emphasised the importance of addressing the complexities of open-source AI, including issues of control, policy, and infrastructure.

Furthermore, TII’s Dr Jingwei Zuo will introduce Falcon Mamba, the first State Space Language Model, built using entirely new architecture that launched earlier this year.

The summit will conclude with a panel led by TII discussing the vision for open-source AI. Since launching the Falcon 40B, the United Arab Emirates’ first open-source large language model (LLM), in May 2023, TII’s Falcon AI LLM series has garnered global recognition, with a new model expected by the end of this year.

-- BERNAMA

PETRONAS GAS BERHAD RECORDS STRONG PROFIT FOR FIRST NINE MONTHS OF 2024

KUALA LUMPUR, Nov 27 (Bernama) -- PETRONAS Gas Berhad (PGB or the Group) has recorded solid Profit After Tax (PAT) of RM1.50 billion for the first nine months of 2024 (9MFY2024), a 4.8% increase compared to RM1.44 billion posted in the same period last year, on the back of strong operational performance.

PGB has announced a third interim dividend of 18 sen per share, maintaining the same rate as the previous quarter, demonstrating continued value delivery to shareholders.

For the first three quarters of 2024, revenue stood at RM4.92 billion, an increase of 1.2% from RM4.86 billion posted in the same period last year. The increase was primarily driven by higher revenue from Gas Processing segment due to higher reservation charges under the new term agreement. However, this was offset by lower revenue from Utilities segment, reflecting lower product prices.

The Group’s commitment to effective maintenance programmes has ensured capacity availability in our plant operations across all PGB’s assets, driving higher PAT for 9MFY2024 compared to the same period last year. This is further supported by improved Utilities margin on the back of lower fuel gas costs following the downward movement of Malaysian Reference Price (MRP).

Abdul Aziz Othman, Managing Director and CEO commented, “PGB Group is expected to deliver strong financial performance in 2024, underpinned by the stable-earning contracts and sustained operational performance. The Group remains committed to optimising cost efficiencies to mitigate the impact of an inflationary cost environment”. 

About PETRONAS Gas Berhad

PETRONAS Gas Berhad (PGB) is the leading gas infrastructure and utilities company with PETRONAS Group holding 51% of its equity. Incorporated in 1983 and listed on the Main Board of Bursa Malaysia on 4 September 1995, PGB operates four integrated businesses, which are gas processing, transportation, regasification and utilities.

Our strategically located assets and strong operational performance ensures safe and reliable supply of products and services throughout Malaysia and Singapore. With over 30 years of experience in gas and utilities infrastructure operations, PGB steps up to pursue growth opportunities in domestic and emerging market as part of our integrated gas solutions.

PGB is a constituent company member of FTSE4Good Index Series, showing the Company's commitment to operate in a responsible manner in the environmental, social and governance (ESG) fronts.

Further details on PGB can be found at www.petronas.com/pgb

Issued by:
PETRONAS Gas Berhad 

SOURCE : PETRONAS Gas Berhad 

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Faris Fahmi
Tel: +6012 7717 857
Email: faris.mohd@petronas.com 

--BERNAMA

TRANSFORMING PUBLIC SECTOR PRODUCTIVITY THROUGH EFFECTIVE WORK DESIGN AND AI-DRIVEN SOLUTION

KUALA LUMPUR, Nov 28 (Bernama) -- In line with Malaysia’s commitment to enhance public sector productivity, work design strategies are being prioritized to drive efficient service delivery and resource management. By optimizing workflows, integrating technology, and fostering supportive work environments, the public sector can significantly boost their effectiveness and responsiveness to citizens’ needs.“Effective work design is essential to public sector success. Thoughtful structuring of tasks, roles, and processes reduces inefficiencies, improves outcomes, and helps us better serve the Malaysian public.” says Zahid Ismail, Director General of Malaysia Productivity Corporation (MPC).

Work design focuses on aligning organisational tasks and roles with strategic goals while enhancing employee performance and satisfaction. In Malaysia’s public sector, this approach optimizes workflows, addresses bottlenecks, and enhances collaboration across departments.

Artificial Intelligence (AI) and digital tools play a transformative role by streamlining repetitive tasks and enabling data-driven decision-making. AI offers new ways to improve public service management. Integrating AI into work design allows the public sector to focus on high-value tasks, reduce delays, and drive innovation. For instance, AI-powered OCR and NLP can quickly digitize and categorize paperwork, allowing routine cases to be processed automatically and freeing staff for more complex work.

A core principle of work design is the analysis and optimization of workflows to identify inefficiencies. Removing outdated procedures and redundant steps helps allocate resources more effectively and speeds up service delivery. AI-driven analytics further enhance productivity and responsiveness by pinpointing areas for improvement.

Promoting sustainable work practices, including flexible arrangements, well-being initiatives, and continuous training, are essential for maintaining high productivity. Countries like Singapore and New Zealand have adopted these practices successfully, demonstrating how technology and effective work design can reshape the public sector for lasting impact.

MPC has been instrumental in guiding the public sector to embrace these productivity-enhancing strategies. By adopting global best practices and integrating AI innovations, MPC aims to align public sector productivity with national goals, ensuring that public services remain efficient and effective.

“Our role at MPC is to empower Malaysia’s public sector with the tools and insights needed to deliver meaningful results. By combining work design with technology, we aim for a future where public services are not only efficient but also make a genuine difference in the lives of our citizens,” says Zahid Ismail.

With MPC’s continued guidance, Malaysia’s public sector is set to build a more productive, innovative, and citizen-focused government for years to come.

About Malaysia Productivity Corporation (MPC)
MPC is a statutory body under the Ministry of Investment, Trade and Industry (MITI). It drives national productivity holistically at the national, sectoral, and enterprise levels through three main thrusts: developing future talent, driving digitization and innovation, and building a robust ecosystem. It collaborates strategically with the private and public sectors by emphasising productivity as a key agenda to boost productivity growth and national competitiveness, ultimately leading to shared well-being and prosperity.

SOURCE : Malaysia Productivity Corporation (MPC)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Nik Haneez Amizan Nik Rosdi
Tel: 019 – 718 1804
Email: nikhaneez@mpc.gov.my

Name: Khairun Nabihah Abd Rashid
Tel: 013 – 442 5597
Email: nabihah@mpc.gov.my

--BERNAMA

MALAYSIAN BRANDS STAND OUT AT 18TH WORLD BRANDING AWARDS IN LONDON

KUALA LUMPUR, Nov 27 (Bernama) -- The 18th edition of the World Branding Awards recognised the achievements of some of the world's top brands, crowning them as National, Regional, and Global Winners, including Malaysia’s Farm Fresh, Getha and Munchy's.

According to the World Branding Awards in a statement, other Malaysian winners included MR DIY, Rotiboy, Spritzer, Petronas, and Putrajaya Holdings.

World Branding Forum Chairman, Richard Rowles emphasised that winning this prestigious award, which heavily relies on consumer votes (70 per cent), demonstrates a brand’s ability to resonate with its audience and exceed customers' expectations.

“It is a badge of honour that signifies a brand's commitment to providing exceptional value, building trust, and creating lasting relationships,” he said.

With over 927 brands from 66 countries nominated as “Brand of the Year” title, less than 100 were selected as winners in the 2024-2025 World Branding Awards.

The prestigious award ceremony took place at the Tower of London, United Kingdom (UK), where over 80 guests worldwide gathered for the ceremony, hosted by renowned British television broadcaster, David Croft.

Among the Global winners who proved excellence and impeccable branding in their industry include Yakult (Japan), Lurpak (Denmark), Sennheiser (Germany), Spotify (Sweden), BYD (China), and Heinz (UK).

Meanwhile, other National tier winners include Airland (Hong Kong), Aurora (Thailand), Bank of Taiwan (Taiwan), Boots (United Kingdom), Flimty (Indonesia), GIG (Kuwait), Partners (Philippines), Sukiya (Japan), and TrueOnline (Thailand).

In the Regional tier, just 20 brands were awarded, including M-150 (Thailand), Tsui Wah (Hong Kong), and Nippon Rent-A-Car (Japan), based on their popularity across multiple countries.

Over 100,000 consumers participated in this year's nomination process, with only about five brands in each country winning, making the World Branding Award an exceptional accomplishment.

-- BERNAMA

AI INTEGRATION IN BUSINESS SCHOOLS GROWS AMID RISING DEMAND FOR TECH-SAVVY GRADUATES - GMAC

KUALA LUMPUR, Nov 26 (Bernama) -- More than three quarters of Master of Business Administration (MBA) and business master’s programmes have integrated artificial intelligence (AI) into their curricula, according to a recent survey by the Graduate Management Admission Council (GMAC).

The survey highlights that AI is being incorporated with a focus on its role in business ethics, decision-making, practical applications, and strategy development, according to GMAC in a statement.

Since the rise of generative AI prompted by the launch of OpenAI’s ChatGPT in late November 2022, business schools are responding to prospective students’ growing expectations for AI in their coursework and employers’ projected demand for AI competencies in the coming years.

“There is no doubt that business schools have taken it up a notch in responding to market imperatives in technological advancements, without losing sight of delivering core competencies like strategic thinking and problem-solving.

“This year’s soaring applications to graduate business programs proves that business schools are on the right track meeting student demands head on, helping graduates upskill with employer’s most coveted capabilities in an AI-affected world,” said GMAC chief executive officer, Joy Jones.

Earlier GMAC surveys of over 4,000 prospective business school students worldwide revealed a significant jump in the demand for AI integration with 40 per cent now deeming it essential in their ideal business school curriculum.

Later in the year, GMAC’s survey of nearly 1,000 corporate recruiters worldwide with half from Global Fortune 500 companies, showed that employers foresee the growing importance of AI knowledge among graduates in the coming years.

To examine how business schools are implementing AI, GMAC has been conducting a case study series. At MIT Sloan School of Management, for instance, a collaborative, crowdsourced strategy involving faculty members has led to projects such as classroom chatbots and student engagement tools. This collective approach enables schools to stay ahead of the rapidly evolving AI landscape.

Meanwhile, at the European School of Management and Technology in Berlin, the adoption of AI has been gradual, with a focus on building systems for student and faculty support using generative AI.

With this approach, they developed a unique plug-in system based on a custom generative pre-trained transformer (GPT) that provides separate interfaces for student support and training on academic integrity and faculty support for course development.

-- BERNAMA

KLCCP STAPLED GROUP'S REVENUE JUMPS TO RM429.6 MILLION IN Q3 2024

KUALA LUMPUR, Nov 26 (Bernama) -- KLCCP Stapled Group (the Group) charted a steady performance in the third quarter of 2024 (Q3 2024) as revenue increased by 7.1% to RM429.6 million from RM401.2 million in the same quarter in 2023 (Q3 2023), underpinned by the solid contribution from the hotel and retail segments. Profit Before Tax (PBT) for the quarter stood at RM241.4 million amidst the acquisition financing cost of the remaining 40% stake in Suria KLCC. The Group also saw higher Profit Attributable to Equity Holders (PATMI) by 11.4% to RM206.5 million from RM185.3 million in Q3 2023.

For the cumulative nine months, the Group recorded PBT of RM725.0 million on the back of a 6.4% increase in revenue of RM1.3 billion. PATMI also increased from RM546.7 million to RM585.6 million for the same corresponding period.

The Group has declared a dividend of 9.20 sen per stapled security for the quarter, bringing the total for the cumulative nine months to 27.40 sen.

Steady performance across all business segments

Chief Executive Officer, Datuk Sr Mohd. Salem Kailany commented on the Group’s performance, “KLCCP Stapled Group’s strong financial results in the third quarter saw impressive performance from our retail and hotel segments. Mandarin Oriental, Kuala Lumpur (MOKUL) saw high RevPar growth in the quarter from a strong events calendar and in successfully capturing the leisure segment. Suria KLCC’s attractive tenant mix, exciting new tenants, experiential marketing initiatives and campaigns for events bolstered the profitability and strengthened its position as the iconic experiential shopping destination in the country.”

The Group’s hotel segment, represented by MOKUL, saw an increase of 15.2% in revenue to RM63.3 million, resulting in a higher PBT of RM6.1 million from RM1.7 million in Q3 2023. This is attributed by the increase in room revenue from stronger occupancy of 63% in the quarter compared to 58%. Additionally, MOKUL has also made a commendable recovery, recording a PBT of RM6.5 million within the nine months period, from a loss before tax of RM3.2 million in the same period last year.

Suria KLCC and the retail podium of Menara 3 PETRONAS, both representing the retail segment, reported a revenue of RM144.6 million in Q3 2024 reflecting an 8.5% increase compared to RM133.3 million in Q3 2023. With a strong occupancy at 99%, PBT is higher by 12.3% to RM114.2 million in the quarter. Suria KLCC continues to attract new and refreshed concept stores during the quarter, with the opening of Dockers (fashion denim store), APT Signature (premium hair salon), and Mr. Bean (Singaporean soya bean food and beverage store). Levi’s also re-launched its store to become the largest in Southeast-Asia, while Marks & Spencer refreshed its space into the first new concept store in Asia.

The office segment, comprising the PETRONAS Twin Towers, Menara 3 PETRONAS, Menara ExxonMobil, and Menara Dayabumi, contributed a higher revenue of RM146.3 million in Q3 2024 from RM145.6 million in Q3 2023. PBT increased by 1.2% at RM120.4 million against RM119.0 million last year. With a net lettable area of more than five million square feet of premium Grade-A offices, the improved performance is backed by the Triple Net Lease (TNL) arrangement and long-term leases.

The management services segment recorded revenue and PBT increase in Q3 2024. Revenue stood at RM97.7 million or 13.5% higher whilst PBT was 3.2% higher compared to the same quarter last year. The steady performance is supported by higher maintenance service activities as well as improved parking income.

Prospects

The Group remains optimistic about its performance, driven by strategic assets and a strong brand presence. Suria KLCC is dedicated to maintaining its leadership as the iconic experiential shopping destination by prioritising the needs of consumers and tenants. Despite increasing competition, the mall continues to demonstrate resilience by adapting to market dynamics and elevating customer experiences. Meanwhile, MOKUL remains steadfast in delivering exceptional hospitality experiences, leveraging its unique positioning to drive sustainable growth and maintain market resilience.

About KLCCP Stapled Group

KLCC Property Holdings Berhad (KLCCP) and KLCC REIT, collectively known as KLCCP Stapled Group is Malaysia’s largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets. KLCCP Stapled Group became the first ever Shariah compliant stapled structure in Malaysia upon the listing of KLCC Stapled Securities (KLCCSS) on 9 May 2013 and trades under the REIT sector of the index as a single price quotation.

KLCCP Stapled Group’s core business is in property investment and development, and provision of management services. The Group owns iconic prime assets, namely the PETRONAS Twin Towers, Menara ExxonMobil and Menara 3 PETRONAS under KLCC REIT and Suria KLCC, the premier shopping mall, Mandarin Oriental, Kuala Lumpur hotel and a vacant land (Lot D1) under KLCCP. KLCCP also has a 33% stake in Menara Maxis.

KLCCP Stapled Group redefines excellence in real estate. With decades of experience building the nation’s iconic landmarks, it has elevated industry standards and expectations, reinforcing its commitment to enriching lives and building a more sustainable future.

Issued by:
Group Strategic Communications and Investor Relations
25 November 2024

SOURCE : KLCC (Holdings) Sdn Bhd

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Yasmin Abdullah
Head, Corporate Communications
Group Strategic Communications and Investor Relations
KLCC (Holdings) Sdn Bhd
Tel: +603-27837584
Email: yasmina@klcc.com.my

--BERNAMA

ACHIEVING EXCELLENCE THROUGH MBEF: BOOSTING PRODUCTIVITY AND COMPETITIVENESS FOR MALAYSIAN INDUSTRIES

PETALING JAYA, Nov 26 (Bernama) -- The Malaysia Business Excellence Framework (“MBEF”), administered by the Malaysia Productivity Corporation (“MPC”), is significantly enhancing the productivity and competitiveness of Malaysian organisations. Serving as a comprehensive guide and assessment tool for organisational excellence, MBEF is helping companies strengthen their market positions in both local and international arenas. CTRM Aero Composites Sdn. Bhd., recipient of the prestigious Industry Excellence Award 2024, which underscores its seven-year transformation journey, participated in this programme to assess and validate its existing improvement initiatives against the globally recognised MBEF framework.

Zahid Ismail, Director General of MPC, emphasised the productivity impact of MBEF, state that, “the MBEF is more than a framework; it is a powerful tool that drives productivity and organisational transformation. By following MBEF principles, companies can enhance their efficiency, reduce waste, and achieve higher productivity, making them competitive globally. CTRM Aero Composites’ accomplishments, validated by MBEF, demonstrate how Malaysian companies can assess their existing improvement activities and leverage this framework to secure sustainable growth and international recognition”.

The MBEF serves a dual purpose for Malaysian organisations. Firstly, it provides structured guidance towards organisational excellence, equipping organisations with a framework to enhance efficiency, adopt best practices, and deliver consistent value to stakeholders. Secondly, it functions as a robust organisational assessment and recognition tool, allowing companies to benchmark their performance against peers and gain public recognition through awards such as the Industry Excellence Award.

Reflecting on the achievements, Shamsuddin Mohamed Yusof, CEO of CTRM, the parent company of CTRM Aero Composites, remarked, “We extend our gratitude to MITI, SIRIM, MPC, and Johor Port for their invaluable guidance. Winning the 2024 Industry Excellence Award validates our commitment to continuous improvement and high standards. Through MBEF, we’ve been able to assess our current practices against this standard framework, addressing leadership, strategy, information, customers, workforce, process, and results as essential elements to sustain organisational performance and reinforce our position as a global industry leader”.

As more companies adopt the MBEF, Malaysian industries will be better positioned to compete globally, with a strong emphasis on productivity and sustainability. MPC’s dedication to supporting companies through MBEF demonstrates Malaysia’s ambition to be recognised internationally for operational excellence and sustainable growth, contributing to a robust and resilient economy.

About Malaysia Productivity Corporation (“MPC”)
MPC is a statutory body under the Ministry of Investment, Trade and Industry (“MITI”). It drives national productivity holistically at the national, sectoral, and enterprise levels through three main thrusts: developing future talent, driving digitization and innovation, and building a robust ecosystem. It collaborates strategically with the private and public sectors by emphasising productivity as a key agenda to boost productivity growth and national competitiveness, ultimately leading to shared well-being and prosperity.

SOURCE : Malaysia Productivity Corporation (MPC)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Norfaizah Abdul Rahman
Tel: 013-3321984
Email: faizah@mpc.gov.my

Name: Nik Haneez Amizan Nik Rosdi
Tel: 019-7181804
Email: nikhaneez@mpc.gov.my

--BERNAMA

MTC UNVEILS THIRD EDITION OF THE MALAYSIAN WOOD EXPO (MWE) 2025, SET TO ELEVATE GLOBAL TIMBER TRADE

KUALA LUMPUR, Nov 25 (Bernama) -- The Malaysian Timber Council (MTC) officially launched the highly anticipated Malaysian Wood Expo (MWE) 2025 at The GlassHouse at Seputeh, here, today. The launch event was graced by the Honourable Deputy Minister of Plantation and Commodities, Datuk Chan Foong Hin, who officiated the ceremony on behalf of the Minister of Plantation and Commodities Datuk Johari Abdul Ghani.

MWE, a premier international trade fair dedicated to the wood and woodworking machinery sector, is one of MTC’s flagship programmes. The 2025 edition will mark the third edition of the Expo, following the success of its debut in 2019 and the equally well-received return in 2023.

With each iteration, MWE has grown in stature, attracting world-renowned machinery manufacturers and a distinguished lineup of international buyers and industry professionals. Previous editions of the event had generated an impressive RM320 million in sales revenue, underscoring the Expo’s significant role in driving growth and business prospects within the timber sector.

The 2025 edition promises to build on this success and further elevate the timber trade, offering local and international businesses a platform for enhanced collaboration and market expansion.

Also present at the launch ceremony were the Secretary-General of the Ministry of Plantation and Commodities Dato’ Yusran Shah Mohd Yusof; MTC Chairman Tuan Haji Zainal Abidin Abdullah, MTC’s Board of Trustees, and MTC CEO Madam Noraihan Abdul Rahman.

“The two previous editions of MWE generated an astounding RM320.78 million in sales revenue, reaffirming the Expo’s vital role as a key business platform in Southeast Asia,” said Tuan Haji Zainal Abidin Abdullah.

The MWE 2025 is scheduled to take place from 10 to 12 November 2025 at the Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur, marking another milestone for the region’s timber industry.

One of the standout features of MWE is MTC’s renowned business matching sessions, which offer unparalleled opportunities for industry players to forge meaningful, productive connections.

“MTC will continue to host the Incoming Buying Mission (IBM) to connect trade buyers from across the globe with the local timber industry players, fostering valuable global trade partnerships,” said Madam Noraihan Abdul Rahman.

Additionally, MTC will facilitate high-impact meetings through its Inbound Overseas Suppliers (IOS) programme, connecting foreign timber suppliers with potential Malaysian buyers. The success of both the IBM and IOS programmes in previous editions has far exceeded expectations.

“MTC looks forward to building on that momentum and delivering an even more successful MWE 2025,” Madam Noraihan added.

About the Malaysian Timber Council
The Malaysian Timber Council (MTC) was established in January 1992 to promote the development and growth of the Malaysian timber industry globally. MTC's main objectives are to promote the Malaysian timber trade and develop the market for timber products globally, to promote the development of the industry by upgrading the industry's manufacturing technology base, to augment the supply of raw materials, to provide information services and to protect and improve the Malaysian timber industry's global image. Further information on the Council’s activities can be obtained from www.mtc.com.my.

Issued by the Malaysian Timber Council

SOURCE : Malaysian Timber Council (MTC)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Ms. Alexis Chang
Corporate Communications Division (CCD)
Tel: 03-9286 9970
Email: alexis@mtc.com.my

Name: Ms. Nur Amira Faezah Mohd Shaofi
Corporate Communications Division (CCD)
Tel: 03-9286 9978
Email: amira.faezah@mtc.com.my

--BERNAMA

FOREIGN STUDENTS EXPLORE CHINESE MARTIAL ARTS CULTURE IN TIANJIN

Foreign students visit martial arts school in China's Tianjin.

KUALA LUMPUR, Nov 25 (Bernama) -- The Publicity Department of Xiqing District recently organised a tour, guiding over a hundred foreign contestants who participated in the Chinese Bridge series of Chinese proficiency competitions around the Tianjin Huoyuanjia School in Jingwu Town, Xiqing District, north China's Tianjin Municipality.

According to a statement, the foreign contestants had the opportunity to experience the charm of Chinese traditional martial arts culture.

The Tianjin Huoyuanjia School has a profound cultural heritage, with its roots in the Chin Woo Athletic Association, which in turn traces its origins back to Huo Yuanjia, a patriotic martial arts master.

Along with others, Huo co-founded the Chin Woo Athletic Association in 1910, which initially advocated mastering both martial arts and being literate, and strengthening the nation through physical fitness, which made up the essence and defining characteristics of the early Chin Woo culture.

Over the past century, the association has seen a steady increase in membership and growing expansion of its influence, whereby its popularity has become a unique cultural phenomenon within the global cultural community, beloved and pursued by people from various countries.

Spreading from China to other countries and from Asia to the rest of the world, the association has transcended national boundaries, with branches now established across all five continents, totalling 83 Chin Woo associations.

The Jingwu Town in Xiqing District plans to further leverage the Tianjin Huoyuanjia School, an international cultural exchange base for overseas Chinese, as a platform to strengthen the exploration and inheritance of Chinese culture.

By promoting Chinese martial arts and Chin Woo culture, the town aims to allow more international audiences to learn about and experience the profound Chinese cultural heritage, share first-hand stories about the real China, and expand the reach of fine traditional Chinese culture.

-- BERNAMA

BASF ECMS BAGS 2024 EDISON PATENT AWARD

KUALA LUMPUR, Nov 25 (Bernama) -- A team of BASF Environmental Catalyst and Metal Solutions (ECMS) and Heesung Catalysts Corporation (HCC) scientists was recently awarded a 2024 Edison Patent Award by the Research & Development Council of New Jersey.

They are being recognised for an innovative Three-Way Conversion Nitrogen Oxide (NOx) Trap technology for fuel-cut NOx control in gasoline vehicles.

The technology treats NOx well under modern engine operating conditions and provides lower tailpipe emissions in comparison with conventional three-way conversion catalysts.

“This technology was well-received by our customers because it filled a critical need in the market. We are fortunate to have the best technical minds in the industry working on helping our customers meet ever more strict emissions regulations and achieve high fuel efficiency.

“This award is a testament to their hard work and dedication to innovating every day and we could not be prouder of the team,” said ECMS Senior Vice President, Research, Development and Application, Saeed Alerasool in a statement.

The team consisted of ECMS scientists Xiaolai Zheng and Pat Burk (retired), along with HCC scientists Jinwoo Song and Jun Lee.

The Research & Development Council of New Jersey established the Edison Patent Award to honour Thomas Edison’s legacy and to use his name to acknowledge New Jersey inventors and the research organisations that drive innovation and continue to position the state as a global innovation hub.

This recognition programme is a part of the council’s mission to collaborate among industry, academia and government to grow and strengthen science, technology, engineering, and mathematics (STEM) in education, innovation and the economy.

A global leader in catalysis and precious metals, BASF ECMS serves customers in many industries, including automotive, aerospace and indoor air quality, while HCC is a distinguished leader in catalyst and material technology who is driving forward with advanced solutions that improve air quality and reduce greenhouse gas emissions.

-- BERNAMA

AIRASIA MOVE WINS ASIA'S BEST TRAVEL BOOKING APP FOR SECOND CONSECUTIVE YEAR AT WORLD TRAVEL TECH AWARDS 2024

(Middle) Nadia Omer, CEO of AirAsia MOVE, receiving the Asia's Best Travel Booking App Award at the World Travel Tech Awards Grand Final 2024, held in Madeira, Portugal

AirAsia MOVE celebrates the prestigious award, showcasing its dedication to providing exceptional travel experiences for travelers across Asia

PORTUGAL, Nov 25 (Bernama) -- AirAsia MOVE has once again been recognized as Asia's Best Travel Booking App at the World Travel Tech Awards 2024, marking its second consecutive win. This prestigious award reflects AirAsia MOVE's ongoing commitment to delivering accessible, efficient, and user-focused travel solutions that cater to the needs of travelers across Southeast Asia and beyond.

Nadia Omer, CEO of AirAsia MOVE accepted the award in Madeira, Portugal yesterday. The World Travel Tech Awards celebrates excellence in travel technology, recognizing top-tier innovations, platforms, and companies shaping the future of the travel industry and is part of the broader World Travel Awards initiative, which highlights excellence across all sectors of the global travel and tourism industry.

The app has consistently set new standards in offering diverse travel options and convenient solutions, allowing users to effortlessly book flights, accommodations, airport rides, activities, and more with an average of 15 million Monthly Active Users.

Nadia Omer, CEO of AirAsia MOVE commented, "Winning this award for the second consecutive year is a testament to our commitment to supporting and promoting travel across Asean and beyond. Thank you to everyone who voted for us, and we will use this as motivation to continue enhancing our services, making travel more accessible and delightful for all travelers. I would also like to dedicate this win to our Allstars, who are the backbone of AirAsia MOVE.

Throughout 2024, we have streamlined our business direction and realigned our focus on the core product of travel. It is all about enabling travelers to have a seamless experience throughout every part of their journey. As an OTA, we are proud to offer over 700 airlines and close to a million hotels and accommodation, aside from airport rides and access to live events and activities such as concerts, sports events and more on one single platform.”

Mike Sawicki, Director, World Travel Tech Awards, says “Congratulations to AirAsia MOVE for winning ‘Asia’s Best Travel Booking App 2024’. This outstanding accomplishment highlights how the brand is raising the bar in travel technology. The dedication of the AirAsia MOVE team is inspiring.”

AirAsia MOVE’s commitment to excellence ensures that the app remains a trusted choice for travelers seeking simplicity, value, and reliable service. In the future, AirAsia MOVE plans to expand its capabilities and adapt to changing travel demands, bringing even more innovative offerings to users.

Stay up to date with everything from AirAsia MOVE by following @airasiamove on Instagram & TikTok for the latest updates. For a seamless and enhanced experience, download your AirAsia MOVE from the Apple App Store, Google Play Store and Huawei App Gallery.

SOURCE : AirAsia MOVE

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Ryan Chan
AirAsia MOVE
Communications
Email: loionchanl@airasia.com

--BERNAMA

CARGILL TRANSFORMS SINGAPORE INNOVATION CENTER TO MEET EVOLVING ASIAN FOOD CONSUMPTION NEEDS

Supported by the Singapore Economic Development Board and Enterprise Singapore, the refurbishment will enable Cargill to serve the booming foodservice sector and demand for indulgent foods

SINGAPORE, Nov 21 (Bernama-BUSINESS WIRE) -- To advance innovation and further contribute to Asia’s vibrant food ecosystem, Cargill is bolstering the capabilities of its Singapore Innovation Center, supported by the Singapore Economic Development Board (EDB) and Enterprise Singapore.

Expected to be completed by early 2025, the enhancements will enable Cargill to better collaborate with its food manufacturing, foodservice and retail customers in Singapore and across the region to develop innovative foods that meet Asian consumer trends. By establishing and augmenting new and existing innovation capabilities, as well as strengthening external innovation with customers, suppliers and other partners, the transition of the center will also provide opportunities for customers to grow and expand, be it locally, regionally or globally, by leveraging Cargill’s extensive network and regional strength.

According to Cargill’s 2024 proprietary APAC TrendTracker study, health and wellness are top of mind for Asian consumers when making diet and lifestyle choices. At the same time, consumers also enjoy indulging in food and beverages while seeking guilt-free pleasures, novelty and elevated sensory experiences. Last but not least, the rise of the middle-class across Asia with consumers enjoying greater spending power while also wanting more convenience in their busier lives is driving strong growth in the foodservice and HORECA (Hotel, Restaurant, Café/Catering) sectors as dining out, takeaways and food deliveries become increasingly popular.

To meet the booming demand in foodservice and for indulgent products in the categories of bakery, chocolate confectionery, ice-cream and café-style beverages, especially in Asia which is home to 60% of the global population and fastest-growing middle class, Cargill’s upgraded innovation center in Singapore will include new capabilities such as:

· A reimagined foodservice and bar space that allows for lively interaction, creativity and co-creation with customers. Cargill’s team of chefs and baristas will also be on hand to create and promote innovative product concepts.
· An expanded kitchen with a modular layout and the latest equipment to demonstrate culinary techniques and facilitate engagement with foodservice customers, enhancing the end-to-end process from ideation to application.
· A Chocolate Academy where chefs and culinary experts support customers with product co-creation, showcase application of chocolate gourmet solutions, conduct trainings, and craft new recipes for the hotel, restaurant and catering (HORECA) sector.
· A Product and Process Development Lab focusing on the development and application of functional or integrated solutions like pectin and modified starches for use in foodservice and indulgent creations, improving taste and texture of bakery fillings, cookies, sauces and dressings.
· A passionate team of chefs, sensory scientists and food technologists working together, marrying art with science to drive solutions for foodservice, bakery and confectionery customers.
 
“Within the region and globally, Singapore has an undisputed reputation as a leading food innovation hub, thanks to the abundance of talent, advanced technologies and supportive regulatory policies,” says Florian Schattenmann, Cargill’s Chief Technology Officer and Vice President of R&D and Innovation. 

http://mrem.bernama.com/viewsm.php?idm=49846

OTC MARKETS LAUNCHES OVERNIGHT TRADING PLATFORM, EXPANDING ACCESS FOR GLOBAL INVESTORS

KUALA LUMPUR, Nov 21 (Bernama) -- OTC Markets Group Inc, an operator of regulated financial markets for over 12,000 United States (US) and global securities, has launched MOON ATS, a new overnight trading platform for National Market System (NMS) securities.

“America’s capital markets are the centre of the financial world. We are excited to launch more opportunities for global investors to trade a range of stocks through the US broker-dealers.

“We believe we bring a unique value proposition by utilising our mission critical infrastructure to serve clients in a new market that is poised for significant growth,” said OTC Markets Executive Vice President of Market Data, Matt Fuchs in a statement.

MOON will offer access to NMS securities listed on major exchanges during the overnight session, making OTC Markets Group one of the first ATS operators offering broker-dealer subscribers the ability to trade both OTC equity and exchange-listed NMS securities overnight.

In addition, MOON will provide Asia Pacific investors with access to the US NMS securities during their local daytime hours, while also offering US investors with the ability to trade in the late evening and early morning hours.

The launch of OTC Overnight and MOON ATS comes amid growing demand for global securities priced in US dollars and traded during the overnight session. These platforms are designed to significantly expand market accessibility, transparency, and data coverage on a global scale.

The introduction of these services marks a new milestone in overnight trading, meeting the needs of broker-dealers and investors worldwide.

-- BERNAMA

PETRONAS, SOUTHEAST ASIAN ENERGY PLAYERS CALL FOR PROGRESSIVE APPROACH TO METHANE EMISSIONS REDUCTION

KUALA LUMPUR, Nov 21 (Bernama) -- PETRONAS, alongside Southeast Asia’s other leading energy companies, have released a Joint Statement to coincide with the 29th United Nations Climate Change Conference (COP29) calling for a progressive, collaborative and inclusive approach to methane emissions reduction in the region’s energy sector as part of a just energy transition which puts nature, people, lives and livelihoods at the heart of climate action.

The signatories - Ministry of Mines and Energy Cambodia, PT Pertamina (Persero), PETRONAS, Myanma Oil and Gas Enterprise, Philippine National Oil Company, Singapore LNG Corporation Pte Ltd, PTT Public Company Limited, and the ASEAN Centre for Energy (ACE) - are also members of the Association of Southeast Asian Nations (ASEAN) Council on Petroleum (ASCOPE).

They acknowledge the urgent need for sustainable climate action and believe that significant accomplishments can be delivered by 2030, as part of wider energy transition efforts.

In order to achieve this, they will:

1. Develop activities in support of the Paris Agreement goals, also recognising that national circumstances require tailored approaches.
2. Proactively advocate for a just and inclusive energy transition through meaningful dialogues, that align with the climate aspirations set by governments to drive targeted, tangible, properly accounted, and scalable emissions reduction that considers the broader impacts of the energy transition.
3. Collaborate across the Southeast Asian energy value chain to champion innovative solutions on methane emissions management, as well as strengthening measurement, monitoring, reporting, verification and mitigation measures, wherever possible.
4. Establish a Southeast Asian oil and gas sector methane emissions baseline, as early as 2025, informed by internationally recognised practices, to be followed by a quantifiable collective methane emissions reduction ambition by 2030.
5. Share practices and the region’s progress on decarbonisation and methane emissions through ASCOPE.

In addition to committing to these actions, the signatories also encouraged peers from across the broader Southeast Asian energy ecosystem to join their efforts to drive industry leadership and position the region as a progressive methane emissions reduction leader.

This Joint Statement aligns with PETRONAS’ Net Zero Carbon Emissions by 2050 Pathway, in particular its near-term and medium-term methane emissions reductions targets, as well as its commitments to the Oil & Gas Decarbonisation Charter, the Methane Guiding Principles, the United Nations Environment Programme’s Oil and Gas Methane Partnership 2.0 and its development of the Methane Leadership Program.

Methane emissions from PETRONAS’ groupwide natural gas value chain operations have been reduced by 58 per cent as of 2023, compared to its target of a 50 per cent reduction by 2025 compared to 2019 baseline.

Read the full Joint Statement here.

About PETRONAS
As a global energy and solutions partner, PETRONAS is driven by its purpose to enrich lives for a sustainable future. With presence in over 100 countries, the group continues expanding its portfolios ranging from conventional and cleaner energy solutions to a diverse range of fuel, lubricants and petrochemical products. While ensuring sustainable practices across its operations, PETRONAS strives to ensure just and equitable outcomes in transitioning to a lower carbon future.

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

VEEA, DEEPGREENX FORGE US$140 BLN DEAL TO REVOLUTIONISE GREEN ENERGY WITH AI PLATFORM

KUALA LUMPUR, Nov 21 (Bernama) -- Veea Inc, a pioneer in edge computing and artificial intelligence (AI)-driven solutions has partnered with DeepGreenX Group Inc (DeepGreenX) an AI-enabled green energy and technology company, for a visionary initiative to roll-out a transformative platform for accelerating the transition to global green energy.

In a statement, Veea said this initiative includes a US$140 billion lease financed infrastructure over the next five years, with US$2.8 billion allocated for Veea Edge Platform in 2025 as part of a US$10 billion edge infrastructure investment. (US$1=RM4.70)

“The notion of a global virtual energy grid managed through a terrestrial- and satellite-based network supported by an AI-driven platform is truly revolutionary as it ultimately can provide for a market-based production and distribution of energy with real-time matching of supply and demand in every corner of the world,” said Veea co-founder and chief executive officer (CEO), Allen Salmasi.

Meanwhile, DeepGreenX CEO Barclay Knapp said: “Real-time application of contextual AI with Veea’s groundbreaking platform to DeepGreenX’s virtual energy grid and other initiatives such as carbon credits promises to address some of the world’s most pressing energy challenges.

The partnership will transform sustainable energy sources into Real-World Assets through Veea's cybersecure edge computing platform, that can be traded and monetised.

Carbon credits established with digital Measurements, Reporting and Verification through Veea’s decentralised and distributed computing platform, offering highly flexible and cost effective Internet of Things (IoT) capabilities are easily employed for a wide range of environments.

Veea’s full-stack middleware offers a form of an operating system (OS) for a decentralised and distributed next-generation Web 3.0 platform supporting federated learning for inferencing and training of Contextual AI models at the edge.

Its Edge AI OS leverages cutting-edge technologies, network solutions and strategic partnerships with leading companies, designed to support a wide range of edge products by multiple equipment vendors, ensuring versatility and adaptability facilitating breakthrough AI-driven innovations.

-- BERNAMA

PCG REPORTS RM762 MILLION LOSS AFTER TAX IN 3Q 2024 DUE TO UNREALISED FOREX LOSS

PCG Managing Director/Chief Executive Officer, Mazuin Ismail

· 3Q 2024 Revenue of RM8.0 billion
· Performance Test Runs Completed at Pengerang Petrochemical Complex
· Ethane and propane feedstock price terms to remain for 5 years

KUALA LUMPUR, Nov 20 (Bernama) -- PETRONAS Chemicals Group Berhad (PCG) recorded Loss After Tax (LAT) of RM762 million for its third quarter in the Financial Year Ending 31 December 2024 (3Q 2024). The LAT was mainly driven by unrealised forex loss on the revaluation of payables at Pengerang Petrochemical Company Sdn. Bhd. (PPC) and the revaluation of shareholders loan to PPC. During the quarter, US Dollar weakened against Ringgit Malaysia from 4.721 on 30 June 2024 to 4.107 on 30 September 2024. Excluding the impact of forex loss, the Group Profit After Tax (PAT) is estimated at RM352 million.

PPC is a 50:50 joint-venture company between PCG and Saudi Aramco located within the Pengerang Integrated Complex (PIC) in Johor. The complex consists of 4 polymers and a glycols plant with a total design capacity of 3.0 million metric tonnes per annum. The facilities completed the performance test runs in 3Q 2024 ahead of its commercial operation targeted by the end of 2024. PPC is a USD functional currency company and the recent weakening of USD against RM resulted in unrealised forex loss on revaluation of payables of RM536 million, recorded in PCG. Additionally, PCG provided a USD denominated shareholders loan to PPC which was also exposed to unrealised forex loss of RM492 million due to the unfavorable forex movement. Including forex losses from other operations of RM86 million, total forex loss in 3Q 2024 is RM1.1 billion.

In terms of operational performance, the Group’s commodities segments i.e., Olefins & Derivatives (O&D) and Fertiliser & Methanol (F&M), recorded improvements in 3Q 2024 achieving average plant utilisation (PU) of 92%, contributing to an increase in production volumes. O&D sales volumes were further boosted by volume contributions from PPC. The Specialties segment however, experienced a slight decrease in both production and sales as demand softened amid higher availability of products. Against 2Q 2024, Group Revenue increased 3% to RM8.0 billion on the back of higher sales volumes and average realised product prices.

In 3Q 2024, commodities chemicals market was broadly mixed, on factors such as ongoing inflation, seasonal supply-demand shift and feedstock movement. Supply tightness supported prices for urea and mono-ethylene glycols while weak downstream demand put downward pressure on prices of methanol and polyolefins. The industry continues to contend with the effects of China’s slower-than-anticipated economic growth, and weakness in key demand drivers, keeping prices and spreads under pressure.

For the cumulative nine months period of FY2024 (YTD 3Q 2024), the Group Revenue improved 8% year-on-year to RM23.2 billion compared to 2023, largely due to higher sales volumes including contributions from PPC. However, Earnings Before Interest, Taxation, Depreciation and Amortisation (EBITDA) declined 10% year-on-year to RM2.8 billion attributed to negative earnings recorded by PPC due to unrealised foreign exchange loss on revaluation of payables as well as higher operating costs. Profit After Tax (PAT) contracted 53% year-on-year to RM750 million. Excluding the impact of forex loss, the Group Profit After Tax (PAT) is estimated at RM1.7 billion.

Key highlights 3Q 2024 vs 2Q 2024:
· Revenue rose 3% to RM8.0 billion (2Q 2024: RM7.7 billion) on higher sales volumes.
· EBITDA for the quarter declined by 50% to RM554 million (2Q 2024: RM1.1 billion) due to unrealised foreign exchange loss on revaluation of payables and higher plant operation costs from PPC. EBITDA margin contracted to 7% (2Q 2024: 14%).
· Loss after Tax (LAT) was at RM762 million (2Q 2024: Profit After Tax RM809 million) mainly due to lower EBITDA and unrealised foreign exchange loss on revaluation of shareholders loan to PPC.
· Plant utilisation rate improved to 92% (2Q 2024: 89%) during the quarter, contributing to an increase in commodity chemicals production and sales volume.

3Q 2024 comparative financial summary:

	2Q 2024	3Q 2024
Revenue (RM million)	7,728	7,986
EBITDA (RM million)	1,110	554
Adjusted EBITDA, excluding forex impact (RM million)	1,140	1,104
EBITDA Margin (%)	14.4	6.9
Adjusted EBITDA Margin, excluding forex impact (%)	14.8	13.8
PAT (RM million)	809	(762)
Adjusted PAT, excluding forex impact (RM million)	871	352

Commenting on PCG’s performance, PCG Managing Director/Chief Executive Officer, Mazuin Ismail said “Our financial performance for the quarter was severely affected by the adverse movement of USD against RM primarily from our investment in PPC. Operationally, the performance of our core business improved in 3Q 2024 as we recorded higher plant utilisation at our Malaysian operations, contributing to higher sales volumes “.

“We have completed all Performance Test Runs at our petrochemical units in PPC and are currently gearing up for commercial operations, targeted by the end of the year. This is a significant milestone for us, in delivering part of our long-term strategy to strengthen our basic chemicals business and selectively diversify into derivatives and specialty chemicals. The molecules available from the naphtha-based chain will allow us to expand our offerings beyond our current portfolio including to go further downstream for more specialised and innovative products. Nonetheless, it is foreseeable that the start-up of these large-scale capital-intensive assets will have material impact to the Group’s earnings, which includes currency translation effects that we saw during the quarter. If the USD continues to rebound in 4Q 2024, we will see partial reversal of the unrealised forex loss.”

“On the market front, the O&D segment is seeing some softness on seasonal weak downstream demand amidst supply additions from new Northeast Asian capacities. F&M is stabilising as key suppliers focus on fulfilling the term commitments, while in the Specialties segment, we are maintaining a cautious outlook given the continued uncertainties in the macroeconomic environment,” he said.

The Group also updated on the supply of ethane and propane gas feedstocks to PETRONAS Chemicals Olefins Sdn. Bhd. (PC Olefins). PETRONAS Chemicals Marketing (Labuan) Ltd. (PCML), PCG’s wholly owned subsidiary and PETRONAS Energy and Gas Trading Sdn. Bhd. (PEGT), a wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS), have mutually agreed for the price terms to remain as stipulated in the current agreement for a period of five (5) years starting from 1 January 2025. PC Olefins produces ethylene and propylene, that are in turn used as feedstocks for the production of polymers and chemical derivatives within the Group’s O&D segment.

About PETRONAS Chemicals Group Berhad

PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites in Malaysia, Asia-Pacific, Europe and North America. With a total combined production capacity of 15.4 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol, other basic chemicals, derivative products and specialty chemicals.

Listed on Bursa Malaysia with more than three decades of experience in the chemicals industry, PCG is established as part of the PETRONAS Group to maximise value from Malaysia’s natural gas resources.

PCG is committed to ensuring that its business practices are in line with globally recognised standards for Economic, Environment, Social & Governance (EESG) practices. It is currently listed in the FTSE4Good Bursa Malaysia (F4GBM) Index and the Dow Jones Sustainability™ World Index.

Further details on PCG can be found at www.petronaschemicals.com.my

SOURCE : PETRONAS Chemicals Group Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Yogeswari Thangavelu
Media Relations, Corporate Affairs & Administration Department
PETRONAS CHEMICALS GROUP BERHAD (PCG)
Tel: +(603) 2331 5000 (GL), +(603) 23926434 (DL) M : (6) 017 2000919
Email : yogeswari.thangavel@petronas.com

--BERNAMA

 

MALAYSIA EXPANDS GLOBAL REACH AS MYCEB LAUNCHES MYTRIPLEE 2.0 AT IBTM WORLD 2024

The Malaysia Pavilion successfully launched at IBTM World Barcelona 2024 with a Ribbon-Cutting Ceremony and MyTripleE 2.0 Campaign lead by Mr. Noor Azlan Abu Bakar; Director of Business Development alongside eight (8) co-exhibitors.

BARCELONA, Nov 20 (Bernama) -- Malaysia Convention & Exhibition Bureau (MyCEB) returns to IBTM World Barcelona for the 9th consecutive year, accompanied by 8 premier co- exhibitors to showcase Malaysia’s dynamic offerings as Asia’s top destination for business events. This year’s event, taking place at Fira Barcelona Gran Via from 19 – 21 November, provides MyCEB a vital platform to highlight Malaysia’s strengths in industry innovation, sustainability, and the ever-evolving business events sector.

“Our objective is to solidify Malaysia’s reputation as a preferred global destination for business events. IBTM World allows us to share Malaysia’s diverse capabilities with the international community, forge invaluable connections, and generate impactful business leads. We are focused on securing new partnerships, strengthening existing ones, and driving economic growth through this platform,” stated Mr. Noor Azlan, Director – Business Development of MyCEB.

As a gathering point for over 12,000 attendees and 2,650 hosted buyers worldwide, IBTM World presents MyCEB and its partners with invaluable networking and business development opportunities. Malaysia's dedicated pavilion, strategically located, is designed to facilitate one- on-one appointments with top-tier international buyers, furthering the nation’s reach within the global business events arena.

A highlight of MyCEB’s participation this year is the launch of the MyTripleE 2.0 Campaign, presented during the Malaysia Pavilion Ribbon Cutting Ceremony. MyTripleE 2.0 builds upon the successful initial campaign set to conclude this quarter, evolving to redefine Malaysia’s business events sector through three core initiatives: Excel, Elevate, and Enliven. Each initiative caters to both regional and international markets, with MyCEB extending both financial and non- financial support to qualifying applicants. Through MyTripleE 2.0, MyCEB seeks to engage more stakeholders and enhance Malaysia’s competitive edge, empowering the sector’s growth and sustainability in the global business events industry.

Additionally, MyCEB’s agenda at IBTM World includes the Meetings Leadership Network Event on 18 November, featuring MyCEB’s Head of Delegation, Mr. Noor Azlan, and an exclusive Advocacy Policy session to commemorate IBTM’s 20th anniversary. These sessions emphasise MyCEB’s commitment to championing global industry standards and fostering strategic dialogue among peers. This year, MyCEB has also been recognised as part of IBTM’s Loyalty Group for its steadfast support and contributions over the years.

Since its founding in 2011, MyCEB has supported a remarkable 2,419 business events up to 2019, attracting approximately 1.94 million delegates and contributing an estimated RM14.7 billion to the economy. In the period following COVID-19, from 2020 to 2023, MyCEB supported an additional 497 business events, drawing in around 1.2 million delegates and adding an estimated RM4.9 billion in economic impact. These achievements underscore MyCEB’s commitment to advancing Malaysia’s standing in the global business events industry while generating significant economic contributions.

This year, MyCEB is proud to be joined by the following co-exhibitors:

1. Kuala Lumpur Convention Centre (KLCC)
2. Malaysia International Trade and Exhibition Centre (MITEC)
3. Borneo Convention Centre Kuching (BCCK)
4. Malayan Safaris
5. Penang Convention & Exhibition Bureau (PCEB)
6. Mandarin Oriental Kuala Lumpur
7. Amari Spice Penang
8. Asian Trails

With Malaysia’s consistent presence at IBTM World, MyCEB, alongside its industry partners, looks forward to strengthening relationships, cultivating new collaborations, and continuing to position Malaysia as a leader in the global business events sector.

ABOUT MyCEB
MyCEB was established in 2009 by Ministry of Tourism, Arts and Culture Malaysia to further strengthen Malaysia’s business tourism brand and position for the international business events market. A Company Limited by Guarantee (CLBG), MyCEB serves as a central hub to assist meeting and event planners to bid and stage international business events in Malaysia and act as a conduit for national product development. MyCEB’s goal is to improve its rankings as an international meetings destination within International Congress and Convention Association (ICCA) and to grow business tourism arrivals to Malaysia.

In April 2021, MyCEB mapped out the way forward for Malaysia in business events with the launch of ‘Malaysia Business Events Strategic Marketing Plan 2021 - 2030’. Emphasizes on three strategic axes to expand performance namely optimisation, foresight and competitiveness. These strategic anchors are applied in implementing, planning, and monitoring all initiatives collaboratively with the industry.

For more information, please visit www.myceb.com.my and follow us on www.facebook.com/MyCEB, Twitter (@MyCEB) and Instagram/MyCEB

SOURCE : Malaysia Convention & Exhibition Bureau (MyCEB)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Rusmawati Ab’llah
PR, Communications & Media
Malaysia Convention & Exhibition Bureau (MyCEB)
Tel: +603 8893 4524
Email: rusmawati@myceb.com.my
Website: www.myceb.com.my #myceb

--BERNAMA

ANAQUA TO BE ACQUIRED BY NORDIC CAPITAL

KUALA LUMPUR, Nov 19 (Bernama) -- Anaqua announced that Nordic Capital, an experienced private equity investor in Technology & Payments globally, has entered into exclusive negotiations to acquire a controlling interest in Anaqua from its existing shareholders led by Astorg.

As part of this transaction, Nordic Capital would become Anaqua’s controlling shareholder, succeeding Astorg, who has been the primary investor in the company since 2019, and has supported Anaqua’s strong and consistent growth over the past five years.

“Nordic Capital shares our vision of a software-led intellectual property (IP) management platform, making them the ideal partner for our next phase of growth.

“Their deep sector experience, successful history of investing in software companies and vast global network would help us continue to transform the IP management industry,” said Anaqua Chief Executive Officer, Bob Romeo in a statement.

Meanwhile, Nordic Capital Advisors Partner and Head of Technology & Payments, Fredrik Näslund said: “This partnership would align with our commitment to supporting companies that drive industry transformation and would fit perfectly with Nordic Capital’s technology investment strategy.”

This acquisition would represent a strategic investment focused on driving continued growth, supporting Anaqua’s global expansion and further strengthening its market position by continuing to enhance its best-in-class software and its operational capabilities.

Nordic Capital has over 20 years of experience accelerating the growth of innovative technology companies and would be set to leverage its deep sub-sector and operational knowledge to create value and boost Anaqua’s ambitious plans.

Definitive agreements for the acquisition would be entered into after information and consultation with employee representative bodies, in which the transaction would be subject to customary regulatory approvals and would be expected to close by the first quarter of next year.

Headquartered in Boston, with additional offices in the United States, Europe, Asia, and Australia, Anaqua is a premium provider of integrated technology solutions and services for the management of IP.

-- BERNAMA

MALAYSIA TO INTENSIFY ASEAN GREEN ECONOMY BY 'POWERING THROUGH CHANGE'

BAKU, Nov 19 (Bernama) -- In the first week of COP29, the Malaysia Pavilion has become a vibrant hub for meaningful knowledge exchange surrounding critical topics such as Future-Proofing Our Environment, Just Transitioning, ‘Powering’ Through Change, Closing the Loop in Local and Global Consumer Demands and Climate Tech. The 26 sessions, featuring 39 prominent speakers representing local and international voices from various areas of focus attracted close to 910 attendees.

Journeying to Net Zero with Sustainable Climate Financing Flows
The pursuit of achieving net zero by 2050 has emerged as a shared goal, driving both policy and action across various sectors globally. However, while technological innovations and regulatory frameworks are evolving, the real challenge lies in ensuring climate finance flows smoothly for sustainable climate action.

Secretary General, Ministry of Natural Resources and Environmental Sustainability (NRES), Datuk Dr. Ching Thoo a/l Kim said, “The climate challenges we face today require international solidarity and partnership. As we hold the chairmanship of ASEAN next year, we are committed to setting the right precedent in driving transboundary collaboration. We are dedicated to strengthening cooperation across ASEAN, recognising that our environmental challenges are interconnected. We aim to enhance our region’s resilience, support sustainable economic growth, and establish climate-conscious policies that serve the people and economies of all member countries.”

In a panel discussion, panellist Shahril Azuar Jimin, Group Chief Sustainability Officer of Maybank highlighted the need for climate adaptation to be done according to locality as there is no one-size-fits-all for the unique ASEAN landscape. This dialogue led by Joel Khaw, Head of MIND and Sustainability at Bank Pembangunan Malaysia Berhad (BPMB) further emphasised the urgent need for financing climate adaptation strategies in ASEAN. The conversation also covered investment opportunities for adaptation financing and actionable insights for overcoming financing challenges across ASEAN.

To address these urgent challenges, developed countries like the UK have advanced collaboration on climate mitigation and adaptation with developing countries like ASEAN who have growing carbon emitting regions and biodiversity hotspots. Initiatives such as the ASEAN-UK Green Transition Fund (GTF) and UK Climate Adaptation and Resilience (CLARE) programme not only aim to accelerate ASEAN’s transition to a clean, climate-resilient economy by reducing emissions, promoting green economic growth, and improving the lives of vulnerable communities but also scale up research and innovation efforts though improved climate risk data, enhanced decision-making tools, and better climate adaptation solutions for urban climate resilience in ASEAN.

The Rt Hon Anneliese Dodds, Minister for Development at the Foreign, Commonwealth and Development Office and Minister for Women and Equalities in her opening keynote address, said, “With over 680 million lives at risk from the climate and nature crisis, we recognise the shared ambitions of our partners, be it in Malaysia and across ASEAN. Nearly a quarter of our UK-ASEAN Plan of Action focuses on energy, climate, and the environment. To further this, the UK-ASEAN GTF providing up to £40 million over five years, aims to accelerate the green transition through shared expertise and commitment.”

The Asian Development Bank (ADB), in collaboration with the Coalition of Finance Ministers for Climate Action and the Government of Malaysia, has also hosted an insightful session at the Malaysia Pavilion focused on the Fiscal Resilience Initiative (FRI). During the session, a new report entitled “Climate-Resilient Fiscal Management: Experience from Southeast Asia” was also introduced. The report includes best practices from the region on assessing and managing climate-related fiscal risks and mobilising climate finance. This is the first report under the ASEAN Climate Finance Policy Platform launched in 2024 to facilitate dialogue and enhance capability in finance ministries.

Just Energy Transition for a Climate-Resilient Future
Malaysia's journey towards a just energy transition is critical in balancing economic growth with sustainable development. Fossil fuels currently account for 20% of the nation’s GDP and support over 3,500 businesses, making them a significant pillar of the economy. Despite these figures, Malaysia is firmly committed to addressing climate change, setting ambitious targets to reduce carbon emissions by 45% relative to GDP.

At the Malaysia Pavilion, discussions on the country’s energy transition underscored the importance of integrating Environmental, Social, and Governance (ESG) principles to guide this shift.

Tan Sri Dato' Abdul Razak bin Abdul Majib, Chairman of Tenaga Nasional Berhad said, "Malaysia's journey towards a sustainable future relies on collaboration, resilience, and innovation. TNB is committed to advancing ESG principles and expanding renewable energy efforts to drive the nation's energy transition forward aligned with the government's NETR policy and guidelines".

Wan Sayuti Wan Hussin, PETRONAS Senior General Manager, Strategy, Policy and Regulation, Corporate Sustainability Division concurred that “The energy transition will be the defining challenge of our time and it has multiple pathways. We need to take into consideration the local context and leverage Malaysia's strengths to unlock opportunities on technology-based solutions (e.g., CCS, hydrogen, biofuels) and nature-based solutions, whilst adhering to the international standards and aligning with the global climate goals.”

By aligning financial flows and policies with low-carbon development pathways, Malaysia is positioning itself to lead in the green economy, all while navigating the complex challenge of moving away from its fossil fuel dependency in a just and responsible manner.

Driving Just Transition and Circular Economy in Malaysia’s Palm Oil Industry
On the 5th day of COP29 at the Malaysia Pavilion, the sessions featured insightful conversation surrounding Powering a Just Transition: Sustainable Malaysian Palm Oil. The discussion encapsulated Malaysia’s palm oil industry’s role in driving global climate solutions through Just Transition and Circular Economy initiatives. It also facilitated dialogues on the industry’s transformative approaches to job creation in sustainable farming and bioenergy, circular economy advancements, and empowerment of marginalised communities.

Belvinder Sron, Chief Executive Officer of The Malaysian Palm Oil Council, highlighted the industry's forward-thinking approach, stating, “Our presence at COP29 highlights Malaysia’s position as a trailblazer of sustainable palm oil production. Through strategic partnerships and steadfast dedication to responsible practices, we aim to set a global benchmark for environmental stewardship and economic resilience, showing the world that sustainable palm oil can meet both ecological and societal needs.”

Professor Jeffrey D. Sachs, President of the UN Sustainable Development Solutions Network (SDSN) in his speech, said, “We recognise that the East Asia region, including ASEAN and China, is at the forefront of the world's most significant transformations towards a green, sustainable, and digital economy. As global pacesetters, it is crucial for ASEAN to drive region-wide initiatives in energy transformation and sustainable land use, including the palm oil industry. Malaysia’s ASEAN Chairmanship 2025 is a tremendously important opportunity to lead these efforts, given its strong track record in sustainable development and energy innovation.”

Embracing The Future of Climate Adaptation and Mitigation Through Tech
Week 1 at the Malaysia Pavilion concluded with an emphasis on the transformative role of climate tech innovations and data platforms in supporting the larger climate agenda. These innovations are not only driving sustainability but also contributing to climate adaptation and mitigation efforts across Southeast Asia and the broader ASEAN region.

From near zero emission power systems to cross-border grids that accelerate regional decarbonisation like the ASEAN Power Grid, provides a strategic cross-border energy integration that can serve as a strategic, cost-effective solution for decarbonisation within the region. Moreover, the integration of data platforms is reshaping solutions across key sectors from agriculture to energy and biodiversity.

These solutions not only unlock renewable energy potential and innovative energy storage solutions but also accelerate policy and regulatory reforms, securing sustainable financing, and navigating social and economic implications for a more sustainable and resilient tomorrow.

The Malaysia Pavilion at COP29 is spearheaded by the Ministry of Natural Resources and Environmental Sustainability (NRES) in collaboration with the Malaysian Green Technology and Climate Change Corporation (MGTC) as the implementing agency. The Pavillion and our country’s participation is proudly supported by Tenaga Nasional Berhad (TNB), Petroliam Nasional Berhad (PETRONAS), Malaysian Palm Oil Council (MPOC), Malaysian Palm Oil Green Conservation Foundation (MPOGCF), Felda Global Ventures Holding Berhad (FGV), SD Guthrie Bhd, Malayan Banking Berhad (Maybank), Bank Pembangunan Malaysia Berhad (BPMB), Kloth Wear and De Carton.

For more information regarding the Malaysian Pavilion at COP29, visit https://malaysiapavilion-cop.com/.

About the Malaysian Pavilion

Malaysia is proud to present our Malaysia Pavilion at COP29, built around the theme “Shift for Sustainability: Climate Action Now”. This theme emphasises the urgency of addressing climate change with immediate, bold actions. Through a whole-of-nation approach, Malaysia is committed to collaborating with all sectors—government, businesses, and communities—to create a sustainable and resilient future for all.

Join us at the Malaysia Pavilion as we showcase our nation’s innovative solutions for climate action, from green urban development to energy transitions, biodiversity preservation, and more.

MINISTRY OF NATURAL RESOURCES AND ENVIRONMENTAL SUSTAINABILITY (NRES)

19 NOVEMBER 2024

SOURCE: Malaysian Green Technology and Climate Change Corporation (MGTC)

FOR MORE INFORMATION, PLEASE CONTACT:
Corporate Communication Unit
Ministry of Natural Resources and Environmental Sustainability (NRES)
Tel: 03-8000 8000

Name: Daniel Michael
Senior PR Manager MSL Group Malaysia
Tel: +60 14-933 9060
Email: daniel.michael@mslgroup.com

Name: Wan Aiqha Liyana
PR Executive
MSL Group Malaysia
Tel: +60 10 287 3103
Email: wan.aiqha@mslgroup.com

--BERNAMA