The 2024 chapter of The Edge Billion Ringgit Club (BRC) Awards is especially memorable, not only because it is the 15th year for the awards — that started in 2010 as an initiative by The Edge Malaysia to recognise, honour and celebrate the biggest and best of Corporate Malaysia — but also the year in which The Edge Malaysia celebrates its 30th anniversary of reporting news that matters.

Making excellence a habit

Winners of The Edge Billion Ringgit Club (The Edge BRC) Awards 2024 gathered at Corporate Malaysia’s biggest and most anticipated awards night on Friday, Aug 23.

Corporate Malaysia’s crème de la crème fêted

Assalamualaikum warahmatullahi wabarakatuh. Salam Sejahtera. Salam Malaysia Madani. And a very good evening to Yang Berbahagia Tan Sri Tong Kooi Ong, chairman of The Edge Media Group; Yang Berbahagia Datuk Ho Kay Tat, publisher and group CEO of The Edge Media Group; distinguished guests; members of The Edge Billion Ringgit Club; and ladies and gentlemen.

Prioritise nation building, think of the rakyat

Yang Amat Berhormat Datuk Seri Anwar Ibrahim, Prime Minister of Malaysia; Yang Berhormat Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry; members of The Edge Billion Ringgit Club; our partners, friends and colleagues; ladies and gentlemen.

Bringing out the best in every Malaysian company

Winning The Edge Billion Ringgit Club (BRC) Company of the Year award is no easy feat.

Celebrating enduring excellence for the 15th year

There aren’t many bankers today quite like Tan Sri Tay Ah Lek, the managing director and CEO of Public Bank Bhd (KL:PBBANK).

A rare breed of banker

Gamuda Bhd (KL:GAMUDA) is no stranger to The Edge Billion Ringgit Club (BRC) Awards, having taken home eight awards in the construction sector and best corporate responsibility (CR) initiatives category over the years since its first win in 2013.

Expanding its presence at home and abroad

Companies that communicate well on how their business model is evolving to create and deliver lasting value to multiple stakeholders continue to thrive this year, says The Edge Billion Ringgit Club (BRC)’s panel of corporate responsibility (CR) judges.

Delivering sustainable value beyond compliance pressure

CelcomDigi Bhd (KL:CDB) has grown from strength to strength in the last two years, with its first full year of operations as a merged entity in the 12 months ended Dec 31, 2023 (FY2023) showing improvements on multiple fronts.

Crystallising merger synergies and scale

CIMB Group Holdings Bhd (KL:CIMB) has managed to bounce back strongly from the lows of 2020, when the health of all lenders’ books was tested by measures introduced during the Covid-19 lockdown.

Strong bounce back from lows of pandemic

Having been in this country for more than 110 years, Nestlé (M) Bhd (KL:NESTLE) continues to deliver on its philosophy of “Good Food, Good Life” through its diverse food and beverage (F&B) offerings, which include halal-certified, made-in-Malaysia products like Milo, Maggi and Nescafé.

Century-long household name delivers more than ‘good food’

International multi-utility operator YTL Power International Bhd (KL:YTLPOWR) bagged its first two trophies at the gala dinner for the The Edge Billion Ringgit Club (BRC) awards this year, owing to the phenomenal rise in its share price over the past year and a half.

Buoyed by renewable energy push

Sunway Construction Group Bhd (KL:SUNCON) is a familiar name at The Edge Billion Ringgit Club (BRC) Awards. For the sixth consecutive year, the group has secured the BRC award for highest return on equity (ROE) over three years in the construction sector.

Buoyed by optimism on data centre jobs

Carlsberg Brewery Malaysia Bhd’s (KL:CARLSBG) strategy of focusing on its premium brands is paying off even as the soft consumer market and inflationary pressures have kept sales volumes from normalising back above pre-Covid-19 pandemic levels.

Premiumisation strategy brews up good returns

Mark Zuckerberg became the world’s second-richest person for the first time Thursday, jumping ahead of Jeff Bezos as shares of Meta Platforms Inc continue to climb.

Zuckerberg passes Bezos to become world’s second-richest person

Binance’s rehabilitative efforts appear to be slow to take root, with the largest crypto platform’s share of trading volume in the roughly US$2 trillion (RM8.4 trillion) digital-asset market falling in September to the lowest level in four years.

Binance’s crypto market share drops to lowest level in four years

Republican presidential candidate Donald Trump said on Thursday that if he is elected in November, no state will be able to ban gasoline-powered cars or trucks, as he seeks to make the future of the auto industry a key campaign issue.

Trump says no state would be allowed to ban gasoline-powered cars if he is elected

US dock workers and port operators have reached a tentative deal that will immediately end a three-day strike that has shut down shipping on the US East Coast and Gulf Coast, the International Longshoremen's Association (ILA) union and the United States Maritime Alliance (USMX) said on Thursday.

US port workers and operators reach deal to end East Coast strike immediately

The US is discussing strikes on Iran's oil facilities as retaliation for Tehran's missile attack on Israel, President Joe Biden said on Thursday, while Israel's military hit Beirut with new air strikes in its battle against Lebanese armed group Hezbollah.

US discusses possible Israeli strikes on Iran oil sites as Israel presses Lebanon campaign

US Federal Reserve losses crossed the US$200 billion (RM844 billion) point this week, according to data released on Thursday by the central bank.

US Fed's paper losses top US$200b mark

Oil and the dollar rose as tensions in the Middle East unnerved investors ahead of US jobs data due later Friday that will help identify the path ahead for interest rates.

Oil soars on Mideast tensions ahead of US jobs

US stocks churned as traders weighed the prospect of escalating conflict in the Middle East against positive economic data. Crude and the dollar extended advances.

Wall Street on edge as Mideast upstages economy

PKR international bureau chairman Datuk Seri Shamsul Iskandar Md Akin claims that the consensus among parties within Perikatan Nasional (PN) is becoming increasingly fragile.

PN parties’ consensus weakening, says Shamsul Iskandar 

Alphabet Inc’s Google is beginning a wide rollout of ads that will be displayed within and alongside the AI-generated summaries that appear at the top of some search results — a move meant to show investors that costly artificial intelligence (AI) projects can generate revenue.

Google begins wide rollout of ads in AI Overviews search results

Singapore is set to charge property tycoon Ong Beng Seng over the case of an ex-minister who was sentenced Thursday for obtaining gifts from the businessman.

Singapore set to charge tycoon Ong Beng Seng over ex-minister case

Here is brief recap of some business news and corporate announcements that made headlines on Thursday.

Velesto, MPHB, Kuchai, Sungei Bagan, Lay Hong, Atlan, Techna-X, MyEG, Harrisons, Maybank and Varia 

NH Foods Ltd, a joint venture (JV) partner of egg producer Lay Hong Bhd (KL:LAYHONG), has ceased to be the latter’s substantial shareholder after disposing of 62.32 million shares, or an 8.24% stake.

NH Foods ceases to be Lay Hong’s substantial shareholder

The privatisation of MPHB Capital Bhd (KL:MPHBCAP) has been met with a stumbling block put up by ISM Sdn Bhd, which is the company's minority partner in six joint-venture companies.&nbsp;

MPHB Capital's privatisation hits stumbling block

MyEG Services Bhd (KL:MYEG) said its blockchain developer, Zetrix, has come out with a digital identification (ID) verification service for Chinese nationals on the ZCert service.

MyEG's blockchain developer launches digital ID verification for Chinese nationals

<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/S8DAAskl62c?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

E...

EVENING 5: Five things you need to know today

Malayan Banking Bhd (KL:MAYBANK) said it has signed a memorandum of understanding with China's Bank of Hangzhou to work together on enhancing cross-border business and advancing digital innovation.

Maybank teams up with Bank of Hangzhou to boost cross-border financing, digital innovation

The Pahang palace on Thursday refuted a post on social media regarding a royal wedding invitation involving the Pahang Crown Prince Tengku Hassanal Ibrahim Alam Shah Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah and a woman as fake and has no connection to the Crown Prince or the palace.

Pahang palace refutes fake post of royal wedding involving Tengku Hassanal

PKR international bureau chairman Datuk Seri Shamsul Iskandar Md Akin claims that the consensus among parties within Perikatan Nasional (PN) is becoming increasingly fragile.

PayPal Holdings Inc completed its first business payment using its proprietary stablecoin as a way to demonstrate how digital currencies can be used to improve often-clunky commercial transactions.

PayPal completes its first business transaction using stablecoin

In normal circumstances, wars are launched with total stealth to maximise the element of surprise. It is one of the most important dimensions of warfare, whether it is staged by the states or sub-state groups.&nbsp;

Strategic realism in the Israeli-Iranian war

Metals traders arriving in London for LME Week were in for a surprise as they caught up with friends and customers from China. 
&nbsp; 
For the last couple of years, the biggest consumer and producer has been a buzzkill for metals bulls — but now suddenly Chinese representatives were among the most bullish in any room.

Sudden shift on China means LME Week whiplash for metal traders

All members of the Dewan Rakyat are advised to focus on discussing the affairs of the people instead of politics during the presentation of the 2025 Budget, said Speaker of the Dewan Rakyat Tan Sri Dr Johari Abdul.&nbsp;

Budget 2025: Members of Dewan Rakyat must focus on people's welfare, not politics — Johari

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed mostly lower on Thursday, driven by profit-taking following a recent price rally.

Palm oil trader David Ng said that the weakness in the soybean oil market during Asian trading hours also dampened sentiment.

CPO futures close mostly lower on profit-taking after rally

Alphabet Inc’s Google is beginning a wide rollout of ads that will be displayed within and alongside the AI-generated summaries that appear at the top of some search results — a move meant to show investors that costly artificial intelligence (AI) projects can generate revenue.

The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has consented to the latest fatwa issued by the Selangor State Fatwa Committee, declaring that the leaders, followers, employees or members of GISB Holdings Sdn Bhd (GISBH) and its affiliates have deviated from the true teachings of Islam.

Selangor Sultan consents to latest fatwa declaring GISBH doctrine as deviant from Islam

There is a clear commitment from the leadership of Malaysia and Pakistan to resolve any issues that could impede the flourishing trade and commerce between the two countries, said Prime Minister Datuk Seri Anwar Ibrahim.

Speaking at a business dialogue event attended by Pakistani Prime Minister Shehbaz Sharif, Anwar noted that the commitment to enhance trade ties between Kuala Lumpur and Islamabad is currently at the highest level within both governments.

Malaysia, Pakistan leaders commit to enhancing trade and commerce — Anwar

The number of Americans filing new applications for unemployment benefits rose marginally last week, but Hurricane Helene's rampage in the US Southeast and strikes at Boeing and ports could distort the labor market picture in the near term.

US weekly jobless claims rise moderately

US service providers expanded in September at the fastest pace since February 2023, driven by a flurry of orders and stronger business activity.

The Institute for Supply Management’s (ISM) index of services advanced 3.4 points to 54.9 last month, the group said on Thursday.

US services activity expands at fastest pace since early 2023

OpenAI has tapped global banks for a US$4 billion (RM16.67 billion) revolving line of credit on top of its recent US$6.6 billion fundraising, building a massive war chest to stay ahead in the costly race to develop more sophisticated artificial intelligence (AI).

The Edge Billion Ringgit Club

‌‌

‌
‌