KUALA LUMPUR (Aug 14): The transition to clean energy is inevitable as the world moves towards reversing the impact of climate change, while simultaneously strengthening energy security to hedge against external uncertainties, such as the Russia-Ukraine conflict’s impact on the energy sector. Renewable energy such as hydrogen is more secure now, as we need to import coal from producing countries such as Indonesia. Roslan said hydropower dams are an important source of renewable energy, noting that hydroelectricity currently powers about 10% of the national power grid. Nonetheless, he acknowledged that it would take a while for the transition from coal to clean energy to take place. The project is aimed at increasing renewable energy capacity in West Malaysia, solving the long-standing problems of flood and clean water supply in Kelantan, and creating eco-tourism opportunities.

SERDANG: The government is looking into a proposal to lift the ban on export of chicken, said Prime Minister Datuk Seri Ismail Sabri Yaakob. He said poultry breeders had made an application to the government to review the ban on chicken export. "This is being discussed and (Agriculture and Food Industries Minister) Datuk Seri (Dr) Ronald (Kiandee) will provide the details on the amount of chicken output for next month. "We fear that by allowing 3.6 million birds to be exported a month, supply in the country will be affected. That’s why I asked MAFI (minister) to look into detail the chicken output projection for next month," he said on Saturday (Aug 13).

All three rank among its top 10 holdings as of the end of June, according to a regulatory filing Friday. Other new additions included US$168 million of Alleghany Corp stock and US$201.5 million in shares of American Campus, which Blackstone Inc agreed to buy in April. Soros, 92, has used his fortune to fund groups promoting justice, democracy, human rights and progressive politics through his Open Society Foundations. He’s poured billions into his philanthropic efforts, and most of his firm’s assets now belong to the foundations rather than the Soros family. It’s one of the few places to gain insight into how hedge funds and some large family offices invest.

KUALA LUMPUR (Aug 12): Sentoria Group Bhd said it is taking legal advice on the purported termination of the lease agreements for 120 acres of Malay reserve land in Langkawi by Lembaga Pembangunan Langkawi (LADA). Sentoria said that SLSB has paid RM41.38 million to LADA as lease premium consideration with a loan of RM28.9 million from Affin Bank Bhd and the remaining RM12.48 million from internally-generated funds. In a bourse filing on Friday, Sentoria said it has received notice from Affin regarding a refund of RM28.9 million from LADA, allegedly being the refund of the partial lease payment pursuant to the purported termination of lease agreements. Notwithstanding the receipt of the notice, Sentoria said it is taking advice on the purported termination of the agreements by LADA. The group said SLSB had since 2014 incurred property development costs and the carrying amount for the land, including land lease premium and property development costs totalling RM60.15 million to date.

With that in mind, Tiger Crystal decided to fight fire with fire and invited fans to turn up the heat at its latest Heat Exchange event, where fans’ efforts were rewarded with free Tiger Crystal and promo codes. This one-day-only event saw two rounds of Heat Exchange activity carried out with hundreds of bottles of ice-cold Tiger Crystal given away for free to participants. “From now until Oct 31, the hotter it gets, the lower the price of Tiger Crystal goes. Tiger Crystal and all related promotions and activities are strictly for non-Muslims aged 21 and above only. Tiger Crystal advocates responsible consumption and urges consumers to not drink and drive.

SINGAPORE (Aug 12): Malaysian electricity utility Tenaga Nasional Bhd plans to begin the process next year for a potential US$1 billion (RM4.44 billion) listing of its power generation business, sources close to the matter told Reuters. In what would be the country's largest initial public offering (IPO) in a decade, TNB Power Generation Sdn Bhd, known as TNB Genco, could be valued at about US$4 billion, the sources said, declining to be named owing to the confidential nature of the matter. Tenaga incorporated TNB Genco as a separate unit in August 2019 to take on its generation assets and liabilities as part of its group-wide transformation plan. TNB Genco says on its website it has a 54.3% share of Malaysia's power generation market. TNB Genco started operation in October 2020 and owns 10 thermal power plants, three hydroelectric schemes, two large solar farms and one port in Malaysia, according to its website.

Zero trust is a framework that requires focus on people, process, and technology aspects to be effective. The most effective approach is to adopt zero trust using a piecemeal, and not “big-bang”, approach. See the adoption of zero trust as an opportunity to engage and collaborate with stakeholders. Zero trust is about eliminating dangerous trust assumptions of a technical nature in security architecture and establishing a singular security strategy to support the business. DataIn a nutshell, zero trust is a new model and a general philosophy around cybersecurity.

PETALING JAYA: Haagen-Dazs ice cream products which were reported to have high levels of carcinogenic element Ethylene Oxide (ETO), have been recalled from sale in the local market, says Tan Sri Dr Noor Hisham Abdullah (pic). The Health director-general said continuous monitoring would be conducted to ensure such products would not be sold in this country. "Continuous monitoring has been done to ensure the products will not be on sale in the country," he said in a statement. ETO is a chemical gas compound that is carcinogenic and is often used to carry out fumigation to kill pests. Dr Noor Hisham said consumers who have doubts about the products can contact the nearest district health office or send inquiries via the website http://moh.spab.gov.my or the Food Safety and Quality Division's Facebook page at www.facebook.com/ bkkmhq.

KUALA LUMPUR (Aug 11): Sapura Energy Bhd, which is disposing of assets to address its cash flow and balance sheet position, said it has completed the disposal of heavy-lift and pipelay vessel Sapura 3000 for US$71.5 million (RM317.82 million). The disposal of Sapura 3000 was completed on Thursday (Aug 11), the group said in a brief filing with Bursa Malaysia. Sapura Energy took over the ownership of the vessel in 2017 following the discontinuation of its 50:50 joint venture with Subsea 7 SA. Sapura Energy shares settled unchanged at five sen, giving the group a market capitalisation of RM799 million. Read also:Sapura Energy begins asset sale with US$71m Sapura 3000 disposal

The benchmark index opened 5.48 points better at 1,497.81 this morning and remained in positive territory throughout the session. Total turnover increased to 2.55 billion units worth RM1.97 billion from 2.17 billion units worth RM1.68 billion on Wednesday. The Main Market volume expanded to 1.64 billion shares worth RM1.63 billion from 1.48 billion shares worth RM1.49 billion on Wednesday. Warrants turnover declined to 308.49 million units valued at RM56.64 million versus 322.59 million units valued at RM47.53 million on Wednesday. The ACE Market volume swelled to 604.56 million shares worth RM282.21 million from 365.79 million shares worth RM130.92 million previously.

KUALA LUMPUR (August 11): Seven Malaysian companies have made it to the Forbes Asia's Best Under A Billion 2022 list. The annual list highlights 200 Asia-Pacific public companies with less than US$1 billion in sales and consistent top- and bottom-line growth. The seven Malaysian companies are CE Technology, D&O Green Technologies Bhd, Greatech Technology Bhd, Kim Loong Resources Bhd, Tashin Holdings Bhd, UG Healthcare and ViTrox Corp Bhd. From a universe of 20,000 publicly traded companies in the Asia-Pacific region with annual sales above US$10 million and below US$1 billion, these 200 companies were selected. The list uses full-year annual results, based on the latest publicly available figures as of July 11, 2022.

PETALING JAYA: The aggregate electronic money (eMoney) payments are expected to double by 2025 in South-East Asia but it may not be sufficient to sustain the provider’s ambitious growth plans. It said the eMoney revenue opportunity for eWallets is not significant enough for financial technology (fintech) companies. In Malaysia, five consortiums have been awarded digital banking licences and they include Axiata’s Boost Holdings Sdn Bhd and RHB Bank Bhd. The others include GXS Bank and Kuok Brothers Sdn Bhd; Sea Ltd and YTL Digital Capital Sdn Bhd, Aeon Financial Service Co Ltd, AEON Credit Service (M) Bhd and MoneyLion Inc, and KAF Investment Bank Sdn Bhd. It said the three technology companies – Sea, Grab and GoTo – plan to control both manufacturing and distribution of financial services.

SHAH ALAM (Aug 11): The prosecution in former home minister Datuk Seri Dr Ahmad Zahid Hamidi’s trial involving 40 charges for receiving bribes in the foreign visa system (VLN) matter has closed its case after calling 18 witnesses. Once the submissions on both sides are done, Yazid will determine whether a prima facie case has been put forth by the prosecution against Zahid. Among the list of witnesses are former immigration director general Datuk Seri Mustafar Ali, who is also the current head of the National Financial Crime Centre (NFCC). In this trial, Zahid, 69, is facing 33 charges of receiving the S$13.56 million (about RM42 million) bribes from Ultra Kirana Sdn Bhd (UKSB) as an inducement. Parti Warisan president and Semporna MP Datuk Seri Mohd Shafie Apdal declined to comment when questioned by a Malay language portal.

KUALA LUMPUR (Aug 10): Boustead Plantations Bhd’s (BPB) subsidiary Boustead Agro Plantations Sdn Bhd has signed a document of understanding (DOU) — with Pertubuhan Peladang Kawasan Kuala Langat (PPKKL) — to venture into the sustainable and technology-driven commercial crop market. “This endeavour signifies BPB’s maiden effort in tapping into other sources of agricultural markets apart from its already established upstream oil palm plantation business. Chief executive officer Zainal Abidin Shariff said the company’s venture into the commercial crop business indicates its steadfastness in assisting the government to address the issue of food security in Malaysia. BPB is one of the most experienced and established upstream oil palm plantation companies in Malaysia. Its major shareholders are Boustead Holdings Bhd and Lembaga Tabung Angkatan Tentera.

KUALA LUMPUR (Aug 10): Velesto Energy Bhd announced that it had completed the offline capabilities upgrading works for NAGA 5 and NAGA 6, making them the first Malaysian jack-up drilling rigs to be equipped with offline capabilities. The offline capabilities of the two jack-up rigs will reduce the total time spent on wells, as the rigs are able to do multiple scopes of activities while drilling, said Velesto in a statement on Wednesday (Aug 10). With fewer rig days per well, Velesto said the offline capabilities will help to bring down the overall drilling project cost for clients, and indirectly reduce the industry’s emission footprint. “This is the first time that Velesto has carried out upgrades for its jack-up rigs. “The offline capabilities will further strengthen Velesto’s value creation as a local company on a par with global players, offering sustainable competitive advantages,” said Velesto president Megat Zariman Abdul Rahim.