Artificial intelligence (AI), sustainability issues and deglobalisation are among the key factors that will result in 83 million job losses and transform nearly a quarter of all jobs (23%) globally over the next five years, according to the World Economic Forum (WEF).

AI, green transition to disrupt nearly 25% of all jobs by 2028

Chatbots have captured the world’s attention. Artificial intelligence (AI) large language model (LLM) tools can take seconds what it would take a human hours, if not days, to write — such as student research papers, business press releases and even computer code. And while this supports the ever-...

Vigilance: While AI can boost coding velocity, it still requires human oversight and security testing

When Digital Edge interviewed YTL Communications CEO Wing K Lee last month, he spoke passionately about the capabilities of the Yes Wireless Fibre 5G portable broadband device, so we decided to put it to the test.

The device, launched in Penang last September, is the country’s first&nbs...

Tech In Review: Combining speed with flexibility

When the Covid-19 pandemic hit in 2020, most people became accustomed to spending hours on video conferencing platforms to adhere to social distancing protocols. But it did not take long before fatigue hit, leaving many yearning for a virtual experience other than looking at a screen with people’...

Concept To Creation: Drag-and-drop metaverse builder lowers barriers to entry

Innovation-driven businesses in Malaysia are booming but they are in need of financial support from investors and government subsidies to scale regionally and internationally. Given that start-ups and new ventures have limited tangible assets to use as collateral — which consequently makes these ...

Intellectual Property: Measuring the value of intangible assets

Here’s a nerdy conversation with a scary twist. A chemical engineer and an artificial intelligence (AI) prompt engineer walk into a bar that is full of cigarette smoke. The chemical engineer orders, “Give me 250ml H2O first.” The prompt engineer smiles, “Get me a glass of water.” The bartender sm...

Econ 4.0: Can you become a prompt engineer?

Making false or exaggerated motor claims is one of the most common types of automotive insurance fraud in the country, costing insurers RM1 billion in 2021 alone.

It is both costly and time-consuming to assess the authenticity of motor claims. But with the use of artificial intelligence...

Solutions: AI a game changer in combating automotive insurance fraud

As the Premier League (PL) season draws to an end, football fans are waiting to see who will lift the coveted trophy. While the teams are fighting it out on the field, fans have taken to showcasing their strategic prowess in video games such as the Fifa football simulation series, which is played...

Cover Story: Aiming to score in fantasy football

A recent robust discussion on a LinkedIn post I created prompted me to write this article. In the post, I shared a newspaper clipping of an article I had written in 1999 where I stated that Malaysia did not have enough funding and that we were losing our talents to Singapore because Singapore inv...

The Pitch Deck: Multi-stage funding necessary for unicorn creation

NEWS

C4IR Malaysia to accelerate green transition and digital transformation

To drive advancement of the digital economy in Malaysia, the government, in collaboration with the World Economic Forum (WEF), launched the Centre for the Fourt...

Bits + Bytes: A Miscellany of Technology

Since the beginning of this year, the current Imbalance Cost Pass-Through (ICPT) surcharge imposed on non-domestic users from the commercial and industrial (C&I) sectors has led to swelling operating costs as a result of higher electricity tariffs.

GSPARX achieves solar synergy with the retail sector

Malaysia has so far committed to two climate targets. One is a nationally determined contribution target that is required of all countries that are signatories to the Paris Agreement, and the other is its net zero emissions target.

Is Malaysia achieving its climate targets?

Gentari Sdn Bhd is one of the new renewable energy (RE) players that have attracted significant attention, thanks to the profile of its owner, Malaysia’s national oil and gas company Petronas.

Petronas set up Gentari last June to deliver net-zero carbon emissions solutions through RE, h...

Q&A: Getting to know Gentari

The balcony of the Port of Tanjung Pelepas (PTP) offers a 180° view of its long berth, lined with towering cranes, stacks of containers and massive ships passing through the channel. At the corner of the visitor’s eye, however, is the sight of a formidable competitor: Singapore’s Tuas Port, which...

Logistics: Tanjung Pelepas wants to get ahead with ESG

After two years of high oil prices, the Malaysian government finally announced that the electricity tariff for non-residential (medium- and high-voltage) users will be increased from 3.7 sen to 20 sen from January 2023.

This triggered an outcry from businesses that were suddenly fa...

Cooler Conversations: Coping with higher electricity prices

A lot of protests were heard in this part of the world when the European Union’s regulation on deforestation-free products (EUDR) was first introduced in 2021.

The EUDR, which was adopted by the European parliament in April, will require suppliers to prove that their products entering t...

Cover Story: Is Malaysia ready for the EU regulation on deforestation-free products?

Soaring electricity bills due to a hike in oil, gas and coal prices globally have been a source of frustration for businesses. However, this has also led to higher demand for renewable energy (RE), especially solar panels.

Earlier this year, the Malaysian government announced a surcharg...

Energy: Riding on the increasing demand for solar energy

As a little girl, Leena Ghosh was captivated by the movie Choices of the Heart (1983), starring Melissa Ellen Gilbert of Little House on the Prairie fame. The movie tells the story of a young missionary from the US who, together with two other missionaries, was killed in El Salvador in 1980. “Sin...

Labour: Fighting for universal human rights

Margie Ong, CEO of sustainability consulting firm Thoughts In Gear, has compiled a 40-point checklist on what businesses can do to improve their sustainability reporting. Businesses can decide if they want to aim for a minimally compliant report or one that is universally understood.

A checklist for your sustainability report

Corporate venture capital (CVC) is the new buzzword in town, but it’s taken me seven years to get to this stage. What do I have to do with CVC?

Two years before his untimely death in 2018, Cradle Fund CEO Nazrin Hassan and I had coffee one day, debating why the Malaysian corporate secto...

The Pitch Deck: Corporate mindset change needed to play start-up game

The Edge Property Excellence Awards 2023

The Edge Best Managed & Sustainable Property Awards 2023

The Edge ESG Awards 2022

The Edge Billion Ringgit Club 2022

The Edge Centurion Club Corporate Awards 2022

In today’s edition of Evening 5 — Tan Sri Andrew Sheng warns that foreign cheap labour is the biggest policy issue in Malaysia. Meanwhile, IHH Healthcare says it is on the lookout for more partnerships and M&A deals and Berjaya Corp returns to profitability.<br />

EVENING 5: Foreign cheap labour the biggest policy issue in Malaysia

GDEX says its new RM25 million intelligent auto hub will triple its sorting capacity to 350,000 shipments daily and improve its service level. The express carrier expects to complete its transition from the current sorting hub in the next few months.<br />

NEWS: GDEX eyes higher capacity, better service with new hub

Pintaras Jaya had a challenging quarter, but MIDF Research believes things may take a turn for the better.<br />

MORNING CALL:30/5/23

The Nasdaq led gains among Wall Street's main indexes on Tuesday (May 30), boosted by shares of Nvidia, amid optimism about lawmakers tentatively agreeing to raise the nation's debt limit to avert a default.

Nasdaq boosted by Nvidia, tentative debt deal cheer

Prime Minister Datuk Seri Anwar Ibrahim, who is also finance minister, said the government is committed to further facilitating ease of doing business and supporting domestic direct investments.

Anwar: Govt committed to facilitating business activities, supporting domestic investments

US consumer confidence slipped in May as concerns about the economic outlook lingered, but more households planned to purchase motor vehicles and other big-ticket items over the next six months, which could support consumer spending.

US consumer confidence dipped in May, survey finds

Integrated energy infrastructure group Wah Seong Corp Bhd is not seeking consolidation with other oil and gas (O&G) companies, according to incoming managing director (MD) Giancarlo Maccagno.

Wah Seong wants to focus on energy, no plans to merge with other O&G players

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Berjaya Corp Bhd (BCorp) returned to profitability with a net profit of RM3.26 million for the third quarter ended March 31, 2023 (3QFY2023), from a net loss of RM35.89 million a year ago.

Earnings per share stood at 0.06 sen, against a loss per share of 0.62 sen, the group showed in a bourse filing on Tuesday (May 30).

BCorp returns to the black with RM3.3m net profit in 3Q

Gen Zs and millennials continue to cite cost of living as their top societal concern above unemployment and climate change,  with more than half of the respondents in a global survey by Deloitte claiming to live paycheck to paycheck and worried about being unable to cover their expenses.

And notwithstanding their desire for better work-life balance, and a reduction in working hours, many Gen Zs and millennials have taken part-time or additional full-time paying jobs to make ends meet.

Cost of living is top societal concern for Malaysian Gen Zs and millennials, says Deloitte

Malaysia’s reliance on foreign cheap labour has become the biggest policy issue in the country's aspirations to move up the value chain, attract foreign direct investment (FDI) and exit the middle-income trap, according to a prominent economist.

Foreign cheap labour the biggest policy issue in Malaysia, says Andrew Sheng

Chinese stocks are facing one grim milestone after another, with waning investor confidence signalling that things will likely get worse before getting better.

Miserable May dashes hopes for rebound in Chinese stocks

Nvidia Corp is set to became the first chipmaker to achieve a US$1 trillion market capitalisation as its blowout revenue forecast underlined the enormous growth potential from artificial intelligence.

Nvidia set to become first US$1 tril chipmaker in AI boom

The European Union (EU) stripped out explicit references to China as a non-market economy in its joint trade strategy with the US.

In a negotiation that highlighted lingering hesitations over Washington’s more confrontational approach to China, EU nations agreed on a watered-down text of joint conclusions from a meeting of the EU-US Trade and Technology Council (TTC) in northern Sweden that starts on Tuesday (May 30), according to people familiar with the matter. The document is still awaiting US sign-off.

EU balks at calling out China in joint trade strategy with US

Bursa Malaysia ended at its intraday low on Tuesday (May 30) amid mounting caution ahead of the US debt ceiling bill vote as early as Wednesday.

At the time of writing, optimism that a deal would be struck soon remains. US Congress needs to raise the debt ceiling by June 5 or the country could run out of cash to pay its obligations.

Bursa ends lower amid caution ahead of US debt ceiling vote

A bipartisan deal to raise the US$31.4 trillion (RM144.8 trillion) US debt ceiling faces its first test in Congress on Tuesday (May 30), setting up what could be a nail-biting week of voting before the US runs out of money to pay its bills.

US debt ceiling deal to face its first test in Congress

Vietnam is turning off street lights and manufacturers are switching operations to off-peak hours to keep the national power system running amid record temperatures in some areas that have caused a surge in demand.

Vietnam urges industry to save energy during heatwave

France will inaugurate on Tuesday (May 30) a battery-making gigafactory, the first of four such plants European and Asian companies plan to build in the north of the country.

The development by Automotive Cells Company, a joint venture between Stellantis, Mercedes and TotalEnergies, involves total investment of €2 billion (US$2.2 billion or RM9.86 billion) — with the French state and local authorities providing nearly half.

France inaugurates first of four gigafactories in the north

Headline inflation in most economies around the world has been coming off its peak since central banks started raising interest rates. At present, there is a strong disinflationary trend underway, according to DBS Research.

Disinflationary trend underway

Panasonic Manufacturing Malaysia Bhd’s net profit shrank 53.42% to RM7.35 million for its fourth quarter ended March 31, 2023 (4QFY2023), from RM15.78 million a year earlier, due to lower revenues, higher operating and utilities costs, as well as lower share of profits from its associated company.

Panasonic Malaysia’s 4Q earnings down 53%, declares 107 sen dividend

MyEG Services Bhd’s net profit rose 25.18% to RM105.94 million in the first quarter ended March 31, 2023 (1QFY2023), from RM84.63 million a year ago.

MyEG net profit grew 25% in 1Q on better margins, fair value gains from investment in Agmo

Melaka Museum Corp (Perzim) is optimistic that the target of five million visitors this year can be achieved through the 21 museums in the state, which have their own unique features to attract tourists.

Perzim targets 5m visitors to Melaka museums this year

The Top 20 (T20) group of income earners in the country contributed RM33.68 billion or 85% of the total personal income tax collected in 2022.

T20 contributed 85% of personal income tax collected in 2022

Penang is a sovereign state in the Federation of Malaysia and its legal position cannot be disputed.

Penang a sovereign state with indisputable legality, says Ramkarpal

The Negeri Sembilan government must take the opportunities to expand the agriculture sector and modern livestock farming to invigorate the state’s economy and create more jobs for the people.

Negeri Sembilan must expand agriculture sector, modern livestock farming to stimulate economy — Rafizi

Only 35% or a total of 176,883 housewives are being protected under the Housewives' Social Security Scheme (SKSSR) as of Monday (May 29) compared to the target of 500,000 housewives set by the Human Resources Ministry for this year.

Only 35% take up rate for housewives' protection scheme — Sivakumar

Vestland Bhd has bagged an RM170 million design and build contract to undertake the main building and associated works for the small office home office (SOHO) and retail units in Subang Jaya.

Vestland wins RM170 mil contract to build and design Subang SOHO project 

The National Technology and Innovation Sandbox (NTIS) development programme has successfully generated sales revenue of RM51.8 million through the commercialisation of 24 innovations within two years, said the Ministry of Science, Technology and Innovation (Mosti).

Mosti: NTIS programme generates sales of RM51.8m in two years

KPJ Healthcare Bhd’s net profit rose 134.44% to RM51.9 million in the first quarter ended March 31, 2023 (1QFY2023), from RM22.14 million a year earlier, mainly driven by the performance from the Malaysian segment.

KPJ Healthcare’s 1Q profit more than doubles to RM52m

Star Media Group: An unreasonable, value-destructive related-party transaction with Matang

AFTER decades of relying on the domestic market, the US-China trade war presented Southern Cable Group Bhd (SCGB) a unique opportunity to diversify outside the country.

As a result, the manufacturer of copper and aluminium cables and wires, plastic compounds and wooden cable drums has s...

Southern Cable gains export diversification advantage from US-China trade war

THE EY Entrepreneur Of The Year (EOY) Malaysia programme is back for its 22nd year and is inviting members of the public and business community to nominate distinguished entrepreneurs for a chance at winning the coveted title.

Nominations for this year’s awards are open from now until J...

EY Entrepreneur Of The Year 2023 open for nominations

MINI-market operator KK Supermart & Superstore Sdn Bhd, which generates about RM1 billion in annual revenue, is weighing the option of floating its shares on Bursa Malaysia, possibly within the next one to three years.

Ahead of the potential listing, the retailer is on an expansion ...

KK Supermart mulls listing, speeds up expansion

Technology Park Malaysia (TPM) in Bukit Jalil, Kuala Lumpur, was established in 1995 as a science park that provided support services, technology as well as research and development (R&D) capability for the growth of science, technology and innovation in the country.

In 2021, the Mi...

Cover Story: Playground for tech players

IN the past three years (as at Dec 31, 2022), Bursa Malaysia-listed companies fetched a total of RM44.9 billion via secondary issuances, about half of which (RM22.6 billion) was raised in 2022 alone, the Securities Commission Malaysia’s (SC) annual reports show.

Based on data compiled b...

Upsized share issuances not quite the remedy to put firms on stronger footing

Notable filings

From May 8 to 12, notable changes in the shareholding of companies publicly traded on Bursa Malaysia included that at Destini Bhd. 

The company, which is involved in oil and gas, specifically tubular handling equipment, conductor install...

Insider Moves: Destini Bhd, Scomi Energy Services Bhd, Yong Tai Bhd, Bintai Kinden Corp Bhd, Sunway Bhd, YTL Power International Bhd 

FINANCIALLY distressed Pharmaniaga Bhd is understood to have received proposals from interested parties looking to take a stake and participate in the pharmaceutical company’s restructuring, sources say.

The interested parties are said to include institutional funds, private equity firm...

A ‘cheap’ Pharmaniaga is attracting potential investors

At the upcoming parliamentary sitting in June, Prime Minister Datuk Seri Anwar Ibrahim is scheduled to table the Health White Paper (HWP), which will set out the guiding principles and strategies to reform and strengthen the country’s healthcare system. As co-chairs and members of the 13-person H...

State Of Health: Now is the time for health reforms

Any visit by a Malaysian prime minister to China is a test of gumption, enterprise and judgment. When the leader of a country that is as strategically pivotal as Malaysia deals with a major power, every word and gesture is watched by audiences — both foreign and domestic — with abundant detail an...

My Say: Anwar’s China visit combines economic diplomacy with geopolitical hedging

TWO children of the late Lim Siew Kim — youngest daughter and third child of the late gaming mogul and founder of the Genting group of companies, Tan Sri Lim Goh Tong — are disputing her will, which was purportedly executed on April 28 last year, and are claiming that she died intestate.

<...

Lim Goh Tong’s daughter Siew Kim’s will in dispute

Tesla Inc’s Elon Musk joined Apple Inc’s Tim Cook, Mercedes-Benz Group AG’s Ola Källenius and other car and technology company bosses in emphasising the importance of maintaining ties with China in his first visit to the country since before the pandemic.

Musk echoes Apple, Mercedes CEOs on importance of China ties

An International Monetary Fund mission has completed its first review of a US$15.6 billion (RM71.9 billion) loan programme for Ukraine and the country has met the required conditions, paving the way for a payout of around US$900 million, the IMF said on Tuesday (May 30).

First IMF review of Ukraine loan facility paves way for US$900m payout

Daimler Truck Holding AG and Toyota Motor Corp have struck a preliminary deal to combine their truck units in Japan, the companies said on Tuesday (May 30).

Toyota, Daimler to combine Japanese truck operations

US holiday air passenger travel topped 2019 pre-Covid levels over the Memorial Day weekend, which typically marks the start of the busy US summer air travel season, figures from the US Transportation Security Administration (TSA) showed on Tuesday (May 30).

US holiday air passenger travel tops 2019 pre-Covid levels

(May 30): JPMorgan Chase & Co has quietly built a global unit focused on catering to the ultra-wealthy and their investment firms as it looks to expand services to the world’s super-rich.

Created just before the pandemic and led by JPMorgan veteran Andy Cohen, the business now...

JPMorgan builds unit for world’s richest families in wealth bet

Switzerland's Social Democratic Party has drawn up a proposal to shrink UBS assets after its takeover of Credit Suisse to reduce the risk of another expensive state-backed rescue, its lawmaker was quoted as saying on Tuesday (May 30).

Switzerland's Social Democrats propose shrinking UBS assets

Thailand’s Move Forward Party-led coalition set up a power transition team, as it prepares to form the next government after sweeping the May 14 election.  

A meeting of the leaders of the eight-party alliance, which holds a clear majority in the 500-member House of Representatives, agreed on Tuesday (May 30) to meet every week until it can formally take power, said Pita Limjaroenrat, Move Forward’s leader and the bloc’s prime minister candidate.

Thai coalition forms transition team as it chases Senate support

Messer SE has sealed an investment from GIC Pte Ltd that values the industrial gas maker at more than €12 billion (RM59.31 billion) including debt, people with knowledge of the matter said, marking the second mega deal in as many months for a century-old, family-owned company in Germany.

GIC close to buying 25% stake in Messer at over €12b valuation

Asda agreed to buy EG Group’s UK and Ireland gas station business in a move that aims to create a convenience retailing empire in one of the world’s most competitive food markets.

Asda to buy Issa Brothers’ filling station business for £2.3b

Indonesia has renewed its threat to take back Shell's stake in the gas-rich Masela block if it fails to sell it by next year, according to a senior government official, who confirmed Malaysia's state-run Petronas was a potential buyer.

‌‌

‌
‌