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

Meta Platforms Inc plans to invest as much as US$65 billion (RM288.56 billion) on projects related to artificial intelligence (AI) in 2025, including building a giant new data centre and increasing hiring in AI teams, chief executive officer Mark Zuckerberg said on Friday.

The company intends to use the funds to build a data centre “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post.

Zuckerberg says Meta to spend up to US$65 bil on AI this year

Urban development planning in Malaysia must preserve the country’s identity, particularly in terms of its arts and culture, even while embracing advanced technology.

Prime Minister Datuk Seri Anwar Ibrahim said in addition to prioritising organised and systematic planning, cities in the country should also be recognised for their distinct character and uniqueness, setting them apart from major cities like London and those in Japan.

Urban planning in Malaysia must preserve national identity, culture — PM 

Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.

Contract closings of existing homes last month increased 2.2% to an annualised rate of 4.24 million, the most since February, according to National Association of Realtors data released on Friday. That was in line with the estimate of economists surveyed by Bloomberg.

US existing-home sales pick up at end of worst year since 1995

(Jan 24): US Treasury yields have trended up since late last year, and commercial real estate distress risk is straining regional banks’ balance sheets again.

Stocks are already reacting to the higher borrowing costs. Smaller bank shares have fallen about 8.2% since late November a...

Regional banks face headache from rising Treasury yields

The benchmark S&P 500 and the Nasdaq struggled for direction on Friday, as investors avoided big bets and assessed fresh data to gauge the health of the economy, while Boeing dipped after issuing a quarterly profit warning.

A S&P Global survey showed that business activity slowed to a ninth-month low in January amid rising price pressures, but firms reported higher hiring, supporting the Federal Reserve's cautious approach to monetary policy this year.

S&P 500, Nasdaq flat as investors assess economic data; Boeing slips

Sarawak Consolidated Industries Bhd (KL:SCIB) on Friday said that the project developer for the now-scrapped civil servants housing project in Perak has disagreed with the repayment terms, and denied the outstanding debt it owed to the Main Market-listed company.

On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.

Developer disagrees over repayment conditions, debt owed to SCIB for scrapped Perak housing project

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

MAHB, Gamuda, MRCB, Scientex, Genting Plantations, TMC Life Sciences, Axis REIT, AmanahRaya REIT, Taghill, Chin Hin, Ajiya, TCS 

Changpeng “CZ” Zhao, a few months out of prison and worth US$70 billion (RM310.75 billion)thanks to the relentless crypto rally, is turning the former venture capital (VC) arm of his Binance Holdings Ltd into a family office.
 
Binance Labs, which oversees about US$10 billion of crypto-related assets, will be renamed YZi Labs, according to a statement on Thursday.

Crypto’s richest man turns VC firm into giant family office

One of Chicago’s wealthiest families has named new leaders and appointed a board for the dynasty’s business after the death of Jim Crown at a racetrack accident in 2023.

Bill Crown, Jim’s first cousin, will replace him as president and chief executive officer of Henry Crown & Co, according to a statement on Friday. Brother Steve Crown will serve as executive chairman of a board of directors that will have five members.

Billionaire Crown dynasty revamps leadership after death of Jim Crown

TMC Life Sciences Bhd (KL:TMCLIFE) warned on Friday that it expects to report a loss for the second quarter ended Dec 31, 2024 (2QFY2025), compared to the net profit recorded in the same period last year.

TMC Life Sciences issues profit warning due to contract issues

Malaysian Resources Corp Bhd (KL:MRCB) is partnering with Melaka Corp to develop a hospital on a parcel of land in Melaka Tengah, that will have an estimated gross development cost of RM520 million.

MRCB forms JV with Melaka Corp for RM520m hospital project

The intraday short selling (IDSS) of Tanco Holdings Bhd’s (KL:TANCO) shares has been suspended for the rest of the day after its last done price dropped more than 15% or 15 sen from its reference price.

Bursa Malaysia suspends short-selling of Tanco's shares

Oversea-Chinese Banking Corp’s (OCBC) chief executive officer made a fresh effort to win over key shareholders of a Singapore insurer that the bank has been trying to take full control of for over two decades.

OCBC CEO met key Great Eastern deal holdouts on US$1b bid — Bloomberg

Malay rights activist Datuk Ibrahim Ali told the High Court that former prime minister Datuk Seri Najib Razak was dishonest with him about the source of RM600,000 given to him in 2015.

Ibrahim Ali says unaware of source of RM600,000 given to him by 'dishonest' Najib

The government has agreed to provide a 50% discount on toll rates for all Class 1 (private) vehicles on Jan 27 and 28, in conjunction with Chinese New Year 2025, said Works Minister Datuk Seri Alexander Nanta Linggi.

CNY toll discount of 50% on all highways on Jan 27-28, following Cabinet's latest decision — Nanta

A lawsuit by 1Malaysia Development Bhd (1MDB) and its subsidiaries against former prime minister Datuk Seri Najib Razak and former management staff will get a new judge.

1MDB lawsuits to get new judges

Bursa Malaysia Bhd and its subsidiaries will be closed on Jan 29 and 30 in conjunction with the Chinese New Year (CNY) public holiday.

Bursa Malaysia, subsidiaries to close for CNY public holiday

TikTok’s Chinese parent company has just over two months to find a buyer for the app’s US business or face a nationwide ban, after getting a time&nbsp;extension from US President Donald Trump.&nbsp;There is already competition to own it.

TikTok’s possible buyers, from Elon Musk to MrBeast

A consortium led by Khazanah Nasional Bhd has received valid acceptances of 1.548 billion shares or 92.82% of the total number of issued shares in Malaysia Airports Holdings Bhd (KL:AIRPORT) on its conditional voluntary offer for shares of the airport operator, better known as MAHB.

MAHB takeover: Acceptance of Khazanah-led consortium's offer reaches 92.82% 

A pastry company and its director were charged in two Sessions Courts here on Friday with 14 counts of using the halal logo and a registered trademark without approval in the supply of 366 sandwiches of various types.

Shake and Bake Cafe and its director charged with using halal logo without approval

Penang International Airport's (PIA) achievement of becoming Malaysia’s second busiest airport in 2024 is a testament to Penang’s growing role as a key hub for both tourism and business, reflecting the state's strong recovery in the post-pandemic era.

State Tourism and Creative Economy Committee chairman Wong Hon Wai said the growth in PIA’s total passenger volume of 7.47 million last year, which is a 7.07% increase compared with 6.97 million passengers in 2023, aligns with the state government’s significant investments in tourism over the past two years.

Having nation's second busiest airport cements Penang's role as northern aviation hub — exco

Packaging manufacturer and developer Scientex Bhd (KL:SCIENTX) on Friday said it is acquiring 528.49 acres of land in Paya Rumput, Melaka for RM333.8 million cash (RM14.50 per sq ft) from Genting Plantations Bhd (KL:GENP).

Scientex buys Melaka land from Genting Plantations for RM333 mil cash

The government and Public Services Department (PSD) have filed an appeal over the High Court’s decision in the case involving Aminah Ahmad and more than 50 other pensioners.

A notice of appeal was filed by the Attorney General's Chambers on Jan 23 stating that they are appealing the entirety of High Court judge Datuk Amarjeet Singh Serjit Singh’s decision that in effect gave pension increments to entitled civil servant retirees.

Govt files appeal over Aminah’s pension case that will affect nearly one million former civil servants

Eco World Development Group Bhd (KL:ECOWLD)(EcoWorld Malaysia) has officially opened the Tuah 1895 dining and lifestyle hub at its Bukit Bintang City Centre (BBCC) mixed-use development in Pudu, Kuala Lumpur on Friday.&nbsp;

Developed by BBCC Development Sdn Bhd, which is a joint venture company between EcoWorld Malaysia, UDA Holdings Bhd and the Employees Provident Fund, the 19.4-acre BBCC comprises residential suites, offices, hotels, a mall and entertainment offerings.

EcoWorld Malaysia officially opens Tuah 1895 dining and lifestyle hub at Bukit Bintang City Centre

A duty manager of a hotel was sentenced to 12 months in jail and two strokes of the rotan by the Sessions Court here on Friday after pleading guilty to a charge of criminal breach of trust (CBT) amounting to more than RM30,000 in hotel room payments.

Hotel duty manager jailed 12 months for criminal breach of trust

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

Moody's Ratings on Friday affirmed Malaysia's sovereign rating at A3 with a stable outlook, citing strong medium-term growth prospects and effective policymaking institutions.

Moody's keeps Malaysia's sovereign rating at A3, outlook stable

After spending RM719.4 million to acquire eight new assets in 2024, Axis Real Estate Investment Trust (Axis REIT) (KL:AXREIT) said it will continue to aggressively source potential acquisition targets, particularly industrial properties.

Axis REIT in hot pursuit of industrial deals

A joint venture between Gamuda Bhd (KL:GAMUDA) and Ferrovial (GFJV) has inked an early contractor involvement (ECI) agreement with Capricornia Energy Hub (CEH) for a hydroelectric storage project in Queensland, Australia. CEH is backed by Copenhagen Infrastructure Partners, one of the world's largest clean energy investors.

Gamuda-Ferrovial JV lands early role in Australian hydroelectric storage project

TMC Life Sciences Bhd (KL:TMCLIFE) warned on Friday that it expects to report a loss for the second quarter ended Dec 31, 2024 (2QFY2025), compared to the net profit recorded in the same period last year.

The Edge Billion Ringgit Club 2023

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The Edge Billion Ringgit Club 2023

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