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

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’

IHH Healthcare Bhd (KL:IHH), which has a dual listing on both sides of the Causeway, has seen earnings rebound from the pandemic-induced hit in the financial year ended Dec 31, 2020 (FY2020).

Record-high earnings on robust healthcare spending, disposal gains

After a 13-year hiatus, KPJ Healthcare Bhd (KL:KPJ) returns as a winner at The Edge Billion Ringgit Club (BRC) Awards 2024, bagging the award for highest returns to shareholders over three years in the healthcare sector.

Reaping returns from patient-centric care

Penang-based Uchi Technologies Bhd (KL:UCHITEC) is well-known among industry players, having made a name for itself as the producer of automatic coffee machine systems globally.

Still brewing strong returns

Kelington Group Bhd (KL:KGB) has been reaping the fruits of years of specialisation in the provision of ultra-high purity (UHP) gas and chemical delivery systems which support manufacturing processes in the semiconductor industry. Tailwinds from the chip sector have helped the group’s revenue, profit, share price and dividends reach fresh record highs in the last few years.

New BRC member benefiting from specialisation

Pengurusan Air Selangor Sdn Bhd (Air Selangor) is exploring the use of advanced water treatment technologies through artificial intelligence (AI) to monitor, predict and detect the quality of raw water from Selangor’s rivers before it is treated at the state’s 34 water treatment plants.

Air Selangor looking into AI solutions to better manage water pollution

Wheat fell as weak demand and improving weather in the US overshadowed an outsized interest-rate cut from the Federal Reserve.
 
Futures in Chicago dipped as much as 1.8%, extending losses this week amid weaker exports for European Union soft wheat and better conditions for US winter wheat planting.

Wheat drops as weak demand, better US weather outweigh Fed cut

Europe's incoming antitrust chief Teresa Ribera plans to loosen the bloc's competition rules to strengthen European industries and speed up regulatory scrutiny of merger deals, according to an interview in Spanish newspaper El Pais on Thursday.

Incoming EU antitrust chief Ribera plans to ease antitrust rules, says El Pais

Treasury Secretary Janet Yellen said that the Federal Reserve’s interest-rate cut Wednesday was “a very positive sign for where the US economy is,” reflecting progress in bringing down inflation and a determination to protect the job market.

Yellen says US Fed cut ‘positive sign,’ policy still restrictive

The US Senate will prepare temporary spending legislation that would avert a partial government shutdown at the end of the month, Senate Democratic Leader Chuck Schumer said on Thursday.

US Senate to move on stopgap bill to avoid partial government shutdown

Walmart Inc customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases. The enhanced feature is a flash point in the escalating tensions between merchants and the card networks setting the fees for payment processing.

Walmart plans instant bank payments, cutting out card networks

Sales of existing US homes fell in August to a 10-month low on persistent affordability challenges ahead of a recent decline in mortgage rates.

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualised rate, according to figures released on Thursday from the National Association of Realtors (NAR).

US existing-home sales drop to lowest level since October

Here is a brief recap of some corporate announcements that made the news on Thursday.

Pharmaniaga, Country Heights, EcoWorld, SSF, United Malacca, Ancom Nylex 

Wall Street’s biggest banks are divided over how fast and deep the US Federal Reserve will cut interest rates over the next year, setting the stage for jittery financial markets until the outlook clears.

Big banks are split on how fast the Fed will cut interest rates

Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve kicked off its easing cycle with half-a-percentage point reduction and forecast more cuts were on the horizon.

Wall Street jumps with tech stocks in the lead after Fed kicks off easing cycle

The 50-basis-point (bps) policy rate cut by the US Federal Reserve early on Wednesday is expected to stimulate domestic consumption in the US and keep its economy from slowing too rapidly.

US Fed rate cut fuels optimism for sustained Malaysian export recovery after August growth beats

BALI (Sept 19): AirAsia is planning to expand its network in Indonesia, particularly in East Nusa Tenggara, the southernmost province of the country, according to Capital A Bhd (KL:CAPITALA) chief executive officer Tan Sri Tony Fernandes.

“We recently launched flights to Labuan Bajo, wh...

AirAsia eyes expansion in eastern Indonesia with new routes

PUTRAJAYA (Sept 19): The Immigration Department is conducting a review and will implement extensive reforms to its work processes and service delivery,&nbsp;in response to concerns raised by the Malaysian Anti-Corruption Commission (MACC)&nbsp;chief commissioner Tan Sri Azam Baki.

Immigration Dept to reform work processes following MACC chief’s feedback — DG

(Sept 19):&nbsp;India’s overtaking of China in some global gauges will likely usher in a bigger influx of foreign flows, giving equities in the South Asian country another boost.

India’s eclipsing of China in MSCI global stock gauges to drive flows

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Thursday

FBM KLCI gains 0.3% to 1,665.65 on Sept 19, 2024

The number of Americans filing new applications for unemployment benefits dropped to a four-month low last week, pointing to solid job growth in September and offering confirmation that the economy continued to expand in the third quarter.

US weekly jobless claims drop to four-month low

Intel said on Thursday it had no plans to sell its majority stake in Mobileye Global, sending shares of the self-driving tech firm up more than 13%.

Intel says has no plans to divest majority stake in Mobileye

Eco World Development Group Bhd (KL:ECOWLD) reported a 21.26% year-on-year increase in its third quarter net profit, driven by improved earnings contributions from its Malaysian operations.

EcoWorld's 3Q profit jumps 21% as revenue and margin improve; 10-month sales exceed FY2024 target

The US has no immediate plans to withdraw a mid-range missile system deployed in the Philippines, despite Chinese demands, and is testing the feasibility of its use in a regional conflict, sources with knowledge of the matter said.

US keeps missile system in Philippines after joint exercises as China tensions rise, tests wartime deployment

The Malaysian Bar Council has raised concerns over the ongoing delay in the appointment of a new Chief Judge of Malaya (CJM) — the third highest position in the judicial hierarchy — saying it should be expedited to ensure effective administration of justice and continued public confidence in the country's legal system.

Malaysian Bar calls for appointment of new chief judge to be expedited after seven-month vacancy

Agricultural and industrial chemicals manufacturer Ancom Nylex Bhd (KL:ANCOMNY) is acquiring a 70% stake in Colorex Sdn Bhd for RM14 million, cash.

Ancom Nylex acquires 70% stake in specialty chemical player Colorex for RM14m, cash

KUALA LUMPUR (Sept 19): Malaysia welcomes the United Nations’ (UN) decision to implement the International Court of Justice’s (ICJ) ruling to end Israel’s illegal occupation of Palestine.

Malaysia applauds UN resolution backing ICJ ruling on Israel’s occupation of Palestine — ministry

KUALA LUMPUR (Sept 19): Deputy Investment, Trade and Industry&nbsp;secretary-general (Industry) Datuk Hanafi Sakri&nbsp;said&nbsp;Malaysia and Palestine will sign a memorandum of understanding (MOU) to boost bilateral cooperation in several sectors.

Malaysia, Palestine to boost bilateral cooperation in sectors including trade and investment — Miti

BALI (Sept 19): AirAsia announced on Thursday,&nbsp;a long-term partnership with European aircraft manufacturer Airbus, to advance research into aviation sustainability initiatives aimed at reducing carbon emissions in the Asean region.

AirAsia, Airbus partner for Asean aviation sustainability

Prime Minister Datuk Seri Anwar Ibrahim has urged state governments to collaborate with the federal government to achieve the goal of modernising land administration across the country.

PM calls on state govts to work with Putrajaya to modernise land administration

The US Federal Reserve’s (Fed) recent interest rate cut is expected to ease capital inflows into Malaysia, boosting the ringgit and supporting local equities, according to economists and market analysts.

US Fed's 50-bp rate cut seen unleashing funds into Malaysian assets 

BofA Global Research raised its forecast for the Federal Reserve's anticipated interest rate cuts for the remainder of this year to 75 basis points, after the US central bank kicked off a widely expected series of reductions on Wednesday.

BofA now expects US Fed to go for 75-bp cut in 4Q after bumper rate reduction

Sales of existing US homes fell in August to a 10-month low on persistent affordability challenges ahead of a recent decline in mortgage rates.

Contract closings decreased 2.5% from a month earlier to a 3.86 million annualised rate, according to figures released on Thursday from the National Association of Realtors (NAR).

Malaysia's air passenger traffic rose 12.7% year-on-year (y-o-y) to 8.7 million passengers in August this year versus 7.7 million a year earlier, thanks to a surge in international travel driven by expansion of international routes and introduction of new flights, according to the Malaysian Aviation Commission (Mavcom).

The Edge Billion Ringgit Club 2024

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The Edge Billion Ringgit Club 2024

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