I bid you a warm welcome to the 2023 chapter of The Edge Billion Ringgit Club (BRC) Awards. This once-a-year gala dinner started in 2010 as an initiative by The Edge Malaysia to recognise, honour and celebrate the biggest and best of Corporate Malaysia — we believe this is possibly the only time in the year that top executives of companies across all sectors listed on Bursa Malaysia are gathered together for an evening like this.

Building value that lasts beyond quarterly performances

The evening shower and Kuala Lumpur traffic faded away as old friends and business associates caught up at The Edge Billion Ringgit Club (The Edge BRC) Awards 2023, Corporate Malaysia’s biggest and most anticipated awards night, on Oct 23.

Celebrating Corporate Malaysia

Keynote Speech by Yang Berhormat Tengku Datuk Seri Zafrul Abdul Aziz

Minister of Investment, Trade and Industry (Mandarin Oriental Kuala Lumpur, Oct 23, 2023)

Championing a mission-oriented approach to innovation

Reflecting the heightened market volatility, it has been a sea of red in terms of the share price performance and total returns of the 14 companies named as The Edge Billion Ringgit Club (BRC) Company of the Year over the years.

Saluting sustainable excellence for the 14th year

Mega First Corp Bhd (MFCB), a member of The Edge Billion Ringgit Club (BRC) since 2017 and placed on its winners’ list every year since 2018, has secured a spot in its Hall of Fame with the highly-coveted BRC Company of the Year award for 2023.

Company Of The Year: Mega First Corp Bhd - Powering growth with renewable energy and more

Companies that were scored highly on corporate responsibility (CR) initiatives continue to be those that not only create lasting impact for multi-stakeholders but know how to measure and communicate them well, say The Edge Billion Ringgit Club (BRC) panel of CR judges.

Creating lasting impact for multi-stakeholders and measuring them well

Financial education is the basis for wealth accumulation, retirement planning and stock investing

It all starts with financial literacy

It came as no surprise when Malaysia’s largest financial services group, Malayan Banking Bhd, again took home the Best CR Initiatives award for the Super Big Cap (above RM40 billion market capitalisation) category of The Edge Billion Ringgit Club Awards 2023 — marking the third time it has won the award after first bagging it in 2015 and 2019.

BEST CR INITIATIVES: SUPER BIG CAP — ABOVE RM40 BILLION MARKET CAPITALISATION: Malayan Banking Bhd - Mobilising change with thoughtful sustainability agenda

United Plantations Bhd (UP), the world’s first producer of sustainable palm oil certified by the Roundtable on Sustainable Palm Oil in 2008, has always taken pride in taking a sustainable, responsible and ethical approach to all aspects of its operations — a commitment that it oft said can be traced back to its founder, Danish engineer and entrepreneur Aage Westenholz, who established the group in 1906.

BEST CR INITIATIVES: BELOW RM10 BILLION MARKET CAPITALISATION: United Plantations Bhd - Facilitating the journey towards a more sustainable society

With fleets of aeroplanes almost completely grounded and international air travel curbed as governments around the world imposed various degrees of movement controls to combat the spread of Covid-19, shares of airport operator Malaysia Airports Holdings Bhd (MAHB) naturally nosedived.

HIGHEST RETURNS TO SHAREHOLDERS OVER THREE YEARS: TRANSPORTATION & LOGISTICS: Malaysia Airports Holdings Bhd - Resuming its ascent post-pandemic

In the face of natural disasters occurring in all corners of the world, IOI Corp Bhd recognised that the concept of “do no further harm” is increasingly insufficient in addressing the loss of natural capital and the onset of climate tipping points.

BEST CR INITIATIVES: BIG CAP COMPANIES — RM10 BILLION TO RM40 BILLION MARKET CAPITALISATION — JOINT WINNER: IOI Corp Bhd - Taking it further than ‘do no further harm’

Westports Holdings Bhd has clearly weathered the global supply chain disruption, continuing the legacy of its late founder Tan Sri Gnanalingam Gunanath Lingam.

HIGHEST RETURN ON EQUITY OVER THREE YEARS, HIGHEST GROWTH IN PROFIT AFTER TAX OVER THREE YEARS: TRANSPORTATION & LOGISTICS: Westports Holdings Bhd - Weathering supply chain headwinds on strong foundation

RHB Bank Bhd seems well on track to achieve its aim to mobilise RM20 billion in sustainable financial services by 2026, having already hit RM12 billion in sustainable financial services as at December 2022, exceeding its year-to-date target by more than 40%.

BEST CR INITIATIVES: BIG CAP COMPANIES — RM10 BILLION TO RM40 BILLION MARKET CAPITALISATION — JOINT WINNER: RHB Bank Bhd - Building a sustainable future with responsible financing

It is a constant balancing act for Telekom Malaysia Bhd, which supports nation building and advances the country’s digital transformation agenda as a government-linked corporation (GLC) while also needing to deliver good returns as a public-listed company (PLC).

HIGHEST GROWTH IN PROFIT AFTER TAX OVER THREE YEARS: TELECOMMUNICATIONS & MEDIA: Telekom Malaysia Bhd - Delivering profits while accelerating the Digital Malaysia aspiration

France’s new premier Francois Bayrou vowed to sharply narrow the nation’s deficit to close to 5% of GDP, a plan that threatens a repeat of the stand-off which toppled the last government.

French premier seeking budget cuts that toppled the previous cabinet

Salesforce Inc says it’s taking multiple large customers from former partner Veeva Systems Inc in a mounting rivalry to sell software to the pharmaceutical industry.

Salesforce fights with Veeva by snagging drug customers

Iranian authorities have lifted a ban on Meta's instant messaging platform WhatsApp and Google Play as a first step to scale back internet restrictions, Iranian state media reported on Tuesday.

Iran lifts ban on WhatsApp and Google Play, state media says

Social media platform TikTok recorded 2,606 requests from the Malaysian government to remove or restrict content on its platform in 1H2024, the highest among all governments in the period, according to its latest report on government removal requests.

Malaysia tops TikTok content, account removal requests in 1H2024 among govts

Wall Street's main indexes rose on Tuesday in a truncated trading session before Christmas, with the S&P 500 and the Nasdaq up for the third consecutive day, helped by gains in a handful of megacap and growth stocks.

Wall Street rises in quiet Christmas Eve trading session

American Airlines Group Inc said a technical vendor glitch was the cause of a brief groundstop on all US flights on Christmas Eve, one of the busiest days of the holiday travel season.

American Air says Christmas Eve delays caused by tech glitch

KUALA LUMPUR (Dec 24): Here is a brief recap of the business news and corporate announcements that made the headlines on Tuesday:

Boustead Heavy Industries Corp Bhd's (KL:BHIC) shareholders have approved the disposal of the fabrication and engineering company’s 51% equity stake i...

BHIC, Pharmaniaga, MMAG, Prolintas, Nestcon, Datasonic, PUC, KKB Engineering, Parlo 

Malaysian Rating Corporation Bhd (MARC) on Tuesday affirmed Malaysia's public information sovereign rating at AAA with a "stable" outlook.

However, MARC flagged challenges from a high fiscal deficit and debt levels, as well as the tax revenue-to-gross domestic product (GDP) ratio of 12.6% in 2023, which remains below the peer average despite recovering to pre-pandemic levels.

MARC flags Malaysia's debt position as it keeps AAA, stable rating

OCBC Bank (Malaysia) Bhd (OCBC Bank) has been named Malaysia’s “Bank of the Year” by London-based publication The Banker for the second consecutive year.

OCBC Bank named top Malaysian bank for second year running

European natural gas prices fluctuated above €45 (RM210.32) a megawatt-hour amid persistent supply concerns, with just a week left until a key transit deal between Russia and Ukraine expires.

European gas swings with one week left before key transit deal expires

FBM KLCI’s upside in 2025 could be limited by a slowdown in foreign inflow and the strengthening US dollar, Phillip Capital warned and recommended that investors look at small- to mid-cap stocks.

Phillip Capital says KLCI has limited upside in 2025, recommends small-mid cap stocks

KKB Engineering Bhd (KL:KKB) has initiated adjudication proceedings under the Construction Industry Payment and Adjudication Act against a contractor over outstanding claims amounting to RM10.1 million.

KKB Engineering sues glove factory project contractor over unpaid claims

Prolintas Infra Business Trust (KL:PLINTAS) said it has settled its dispute with KL-Kuala Selangor Expressway Bhd (Latar) over a cost-sharing agreement, for an undisclosed amount.

Prolintas settles cost-sharing agreement dispute with Latar for undisclosed sum

Boustead Heavy Industries Corp Bhd (KL:BHIC) shareholders have given the nod for the fabrication and engineering company to dispose of its 51% equity stake in Contraves Advanced Devices Sdn Bhd (CAD) to German defence firm Rheinmetall AG for RM54 million.

BHIC shareholders approve RM54m sale of 51% stake in LCS subcontractor

KUALA LUMPUR (Dec 24): Here is a brief recap of the business news and corporate announcements that made the headlines on Tuesday:

Boustead Heavy Industries Corp Bhd's (KL:BHIC) shareholders have approved the disposal of the fabrication and engineering company’s 51% equity stake i...

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EVENING 5: Five things you need to know today

OCBC Bank (Malaysia) Bhd (OCBC Bank) has been named Malaysia’s “Bank of the Year” by London-based publication The Banker for the second consecutive year.

Datasonic Group Bhd (KL:DSONIC) said Azlan Abdul Kadir’s status as a substantial shareholder of the company has ceased following a 20 million share disposal.

Azlan Abdul Kadir ceases to be Datasonic's substantial shareholder

The proposed new international airport in Kuching is set to enhance Sarawak’s appeal, providing a crucial X factor to attract businesses, investors and visitors.

Abang Johari sees new Sarawak airport driving state’s economic growth

East Navigators Capital Ltd is no longer a substantial shareholder in Pharmaniaga Bhd (KL:PHARMA) after disposing of a 1.76% stake in the PN17-status pharmaceutical firm for RM5.32 million.

East Navigators' direct stake in Pharmaniaga falls below 5% after selling shares at discount

JAPANESE financial group Nomura, which recently commemorated its 50th year of operations in Malaysia, sees strong opportunities to expand its business here amid a positive outlook on the country.

The group has three operating entities in Malaysia, namely Nomura Asset Management Malaysia...

Nomura sees more opportunities in Malaysia amid positive outlook  

Nestcon Bhd’s (KL:NESTCON) wholly owned subsidiary&nbsp;Nestcon Infra Sdn&nbsp;Bhd is set&nbsp;to develop a large-scale solar photovoltaic plant (LSSPV) with 14.99 megawatts of alternating current (MWac) in&nbsp;Bongawan, Kimanis, Sabah.

Nestcon wins bids to develop 18.99 MWac LSS power plant projects in Sabah

Major banks and business groups sued the Federal Reserve on Tuesday, alleging the US central bank's annual "stress tests" of Wall Street firms violate the law.

Big banks, business groups sue US Fed over annual stress tests 

Social media platform TikTok recorded 2,606 requests from the Malaysian government to remove or restrict content on its platform in 1H2024, the highest among all governments in the period, according to its latest report on government removal requests.

A summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI rises 0.43% to 1,602.99 on Dec 24, 2024

GDS Holdings Ltd&nbsp;is considering an initial public offering (IPO)&nbsp;for a real estate investment trust (REIT) of its data centre assets in China, according to people familiar with the matter.

Data centre operator GDS considering IPO of Chinese REIT — Bloomberg

Prime Minister Datuk Seri Anwar Ibrahim has extended his condolences to the families of the victims of a five-vehicle crash at KM204 of the North-South Expressway (PLUS) in Melaka on Monday night.

Anwar extends condolences to families of KM204 crash victims

Malaysian Rating Corporation Bhd (MARC) on Tuesday affirmed Malaysia's public information sovereign rating at AAA with a "stable" outlook.

However, MARC flagged challenges from a high fiscal deficit and debt levels, as well as the tax revenue-to-gross domestic product (GDP) ratio of 12.6% in 2023, which remains below the peer average despite recovering to pre-pandemic levels.

PUC Bhd (KL:PUC) group managing director Cheong Chia Chou has pared his stake in the loss-making digital payment solutions provider to 6.58%.

PUC MD Cheong Chia Chou pares stake to 6.58%

Despite the popularity of online shopping platforms, malls were nevertheless crowded with locals and foreigners alike making last-minute preparations for Christmas on Wednesday.

The Edge Billion Ringgit Club 2023

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The Edge Billion Ringgit Club 2023

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