Companies

- A + A KUALA LUMPUR (Sept 26): Bursa Malaysia Securities Bhd has enhanced sustainability reporting requirements in the listing requirements on the Main Market and ACE Market to elevate the sustainability practices and disclosures of listed issuers. In a statement on Monday (Sept 26), the exchange holding company said this will propel listed issuers to adopt international best practices, as there have been recent significant developments in the sustainability landscape, particularly on the climate change front. Bursa said listed issuers on the main market will need to include in their annual reports, common sustainability matters and indicators, as well as climate change-related disclosures aligned with the recommendations of the task force on climate-related financial disclosures (TCFD). Issuers are also required to disclose enhanced quantitative information on its sustainability targets such as a minimum of three financial years’ data for each reported indicator, … [Read more...] about Bursa Malaysia adds climate change reporting to sustainability reporting framework for companies on Main, ACE Markets

Share to Twitter Share to Linkedin Jodi Daniels is a privacy consultant and Founder/CEO of Red Clover Advisors , one of the few Women’s Business Enterprises focused on privacy. Data privacy is a big factor driving strategy and operational decisions for businesses of all sizes in all sectors. And while concerns about how companies collect and use consumer data have been around for almost as long as the internet, regulatory and best practice standards for modern data privacy are fairly recent. They’re also constantly changing. Roughly 62% of business leaders said "their organization should be doing more to strengthen existing data-protection measures," according to a survey by KPGM (download required). Tellingly, 29% of respondents also admitted "their company sometimes employs unethical data collection methods." If you understand the importance of data privacy but work for a company that doesn’t, trying to get everyone on the right track … [Read more...] about How To Be A Privacy Advocate In Your Company

- A + A BRUSSELS (Sept 26): Alphabet unit Google on Monday (Sept 26) rebuffed a push by European telecoms operators to get Big Tech to help fund network costs, saying it was a 10-year-old idea that was bad for consumers and that the company was already investing millions in internet infrastructure. The comments by Matt Brittin, president of EMEA business & operations at Google, come as the European Commission said it would seek feedback from the telecoms and tech industries on the issue in the coming months before making any legislative proposal. Deutsche Telekom, Orange, Telefonica and other big operators have long complained about tech rivals freeriding on their networks, saying that they use a huge part of internet traffic and should contribute financially. The idea, floated more than 10 years ago, could disrupt Europe's net neutrality or open internet access, Brittin said. "Introducing a 'sender pays' principle is not a new idea, and would upend many of … [Read more...] about Google says shared network costs is 10-year-old idea, bad for consumers

- A + A NEW DELHI (Sept 26): Apple Inc has begun manufacturing its new iPhone 14 in India, narrowing a technology gap with the device's main manufacturing base of China. Apple made the announcement on Monday, less than three weeks after the iPhone 14's unveiling. The company had worked with suppliers to ramp up manufacturing in India and shorten the lag with China in production from the typical six to nine months for previous launches, Bloomberg News reported in August. "We're excited to be manufacturing iPhone 14 in India," Apple said in an emailed statement on Monday, confirming the move. Apple, which long made most of its iPhones in China, is seeking alternatives as Xi Jinping's administration clashes with the US government and imposes lockdowns across the country that have disrupted economic activity. Foxconn Technology Group, its primary manufacturer of iPhones, studied the process of shipping components from China and assembling the iPhone 14 at its plant … [Read more...] about Apple begins making iPhone 14 in India three weeks after launch

- A + A KUALA LUMPUR (Sept 26): Computer Forms (Malaysia) Bhd has teamed up with Bangkok-listed Energy Absolute PCL to jointly produce and distribute electric vehicles (EVs) such as e-buses, e-cars, e-trains, e-bikes and e-boats as well as EV chargers in Malaysia, as it recognises that new opportunities emerge in the EV industry. Computer Forms managing director Datuk Wira Justin Lim has said the partnership will allow the group to diversify into the EV industry, which is expected to provide a sustainable income stream in addition to its current income stream. The group is currently engaged in printing and distributing computer forms, stock forms and specialised forms. He added that the joint venture (JV) company will be rolling out plans to produce lithium-ion batteries and investing in energy storage systems and charging stations to support the EV ecosystem. In a Bursa Malaysia filing on Monday (Sept 26), Computer Forms said it has entered into a heads of … [Read more...] about Computer Forms partners Thailand’s Energy Absolute to sell, produce EVs in Malaysia

The Perodua Ativa Hybrid at centre stage with (left to right) Secretary General Ministry of International Trade & Industry YBhg Datuk Seri Lokman Hakim Ali, Daihatsu Motor Co Ltd Chairman Mr Sunao Matsubayashi, Perodua Auto Corporation Sdn Bhd President Mr Masanori Takahashi, Pn Haliza Alias, Pn Sarina Mat Desa, Ms Tan Chiew Woo, En Abdul Rahman Mohmad, En Farizul Abd Hamid, Perodua Chairman YBhg Tan Sri Asmat Kamaludin, and Perodua President & CEO YBhg Datuk Seri Zainal Abidin Ahmad. - A + A KUALA LUMPUR (Sept 26): While consumers are cutting their spending on big items such as cars on anticipation of another round of interest rate hike later this year, Perusahaan Otomobil Kedua Sdn Bhd (Perodua) expects bookings for its products to remain resilient. Its president and chief executive officer Datuk Seri Zainal Abidin Ahmad said the carmaker would try to facilitate consumers who are seeking to purchase Perodua cars. “It is interesting to see the current … [Read more...] about Bookings remain resilient despite expectations of further interest rate hike, says Perodua

- A + A KUALA LUMPUR (Sept 26): CTOS Digital Bhd further raised its equiy interest in RAM Holdings Bhd to 57.68% after buying out MUFG Bank (Malaysia) Bhd’s 2.1% stake in the credit reporting firm for RM5.99 million. The increse in CTOS’s stake in RAM “will allow both companies to leverage each company’s expertise in credit assessment, data and analytics to further extend their product offering and value proposition to their existing customer base”, CTOS said in a bourse filing. The acquisition will be fully funded by bank financing, the group said. “The purchase consideration was arrived based on a willing buyer willing seller basis, after taking into consideration that it represents 1.6x FY2021 net asset value of RAM and 20.1x FY2021 profit after tax, [and] is in-line with the other listed credit rating agencies globally,” added CTOS. Securities Commission Malaysia (SC) had on April 28 given its approval for CTOS to acquire majority stakes in RAM within six … [Read more...] about CTOS raises stake in RAM to 57.7% via purchase of MUFG Bank’s 2.1% stake

This article first appeared in The Edge Malaysia Weekly, on September 19, 2022 - September 25, 2022. - A + A FOLLOWING an increase in plot ratio and change in land use under an amendment to the Kuala Lumpur City Plan 2020, a 19.14-acre parcel adjacent to Istana Negara in Kuala Lumpur — equally owned by Jakel Group, Symphony Life Bhd and Permodalan Nasional Bhd (PNB) — has potentially risen in value by more than 40% since it was purchased six years ago. The 833,665 sq ft tract in Jalan Semantan facing Jalan Tuanku Abdul Halim (formerly Jalan Duta) (see map), which was purchased for RM646 million or RM775 psf, may now be worth as much as RM917 million or RM1,100 psf, industry experts say, notwithstanding the current soft property market. Stanley Toh, executive director of real estate and valuation firm LaurelCap Sdn Bhd, tells The Edge that a year ago, Dewan Bandaraya Kuala Lumpur (DBKL) changed the zoning for the land from residential and main commercial … [Read more...] about Land near palace purchased in 2016 jumps in value

This article first appeared in The Edge Malaysia Weekly, on September 19, 2022 - September 25, 2022. - A + A THERE could be a couple of large road and highway construction contracts up for grabs following the tabling of Budget 2023 in parliament, people familiar with the matter tell The Edge. The budget announcement is scheduled for Oct 7. It is understood that some of the larger contracts being looked at by the government include portions of the RM7.3 billion, 351km Central Spine Road (CSR), which is slated to connect Kuala Krai in Kelantan to Simpang Pelangai in Pahang. They could also include parcels of the RM5.2 billion, 425km Sarawak-Sabah Link Road (SSLR), which will link Long Lama to Lawas, bordering Sabah, with a spur road being constructed to Long Pasia in Sabah’s Sipitang district when completed. “We are expecting some announcements on these two contracts (CSR and SSLR), which could impact the construction sector positively in the budget next … [Read more...] about SSLR, CSR construction contracts likely to be mentioned in Budget 2023

- A + A KUALA LUMPUR (Sept 26): Two substantial shareholders of Apex Equity Holdings Bhd have filed a lawsuit to stop the tabling of a resolution for the approval of a mandate to allot and issue new shares. The resolution, if approved by shareholders at an extraordinary general meeting (EGM) scheduled for Sept 29, will provide the company a general mandate to allot and issue shares pursuant to Sections 75 and 76 of the Companies Act 2016. The two shareholders are Fun Sheung Development Ltd (15.8% stake), and Yenson Investments Ltd (5.2%), Apex Equity said in a bourse filing. The group's single largest shareholder is former managing director Datuk Calvin Choong Chee Meng with a 25% indirect stake via ACE Credit (M) Sdn Bhd, followed by Fun Sheung, Kenanga Growth Fund (12.3%), and Yenson. Choong was redesignated as non-executive director on June 20. Fun Sheung and Yenson are seeking a declaration that the resolution is in breach of Section 85 of the Companies … [Read more...] about Apex Equity shareholders go to court to stop mandate for issuance of new shares