The Edge Malaysia ESG Awards 2024 was significant, thanks to the wider range of public listed companies (PLCs) in the fray and new award categories.

Editor’s note

As the pressure for businesses to adopt ESG continues, the private sector and investors play a crucial role in the transition towards a low carbon economy, Deputy Prime Minister and Minister of Energy Transition and Water Transformation Datuk Seri Fadillah Yusof said at The Edge Malaysia ESG Awards 2024.

Driving decarbonisation through innovation and resilience

The biggest winner in the PLC category was Vitrox Corporation Bhd (KL:VITROX), which took home two gold awards for being the best performer in the technology sector and for the most improved ESG performance over a three-year period for companies with a market capitalisation of over RM5 billion.

Emerging star award introduced to recognise best new performers

George Kent (M) Bhd’s (KL:GKENT) dedication to sustainability has been rewarded with a gold win in the construction category of The Edge Malaysia ESG Awards 2024.

George Kent bags gold in construction sector

MGB Bhd (KL: MGB) has won the silver award in the construction category for the second year in a row at The Edge Malaysia ESG Awards 2024.

MGB Bhd wins silver award two years in a row

The Edge Malaysia ESG Awards 2024 sees first-time winner Karex Bhd (KL:KAREX) taking home gold for being the best performer in the consumer products and services sector. Its CEO Goh Miah Kiat attributes the win to the company shifting away from its reliance on migrant workers, having frozen the hiring of new migrant workers since 2019.

Karex Bhd focuses on hiring and retaining local talent

Nestlé (M) Bhd (KL:NESTLE), which emerged as a silver award winner in the consumer products and services sector at The Edge Malaysia ESG Awards 2024, has been championing initiatives such as its Project Save that manage post-consumer waste, emphasise plastic neutrality and drive the transition towards a circular economy.

Nestlé Malaysia champions the circular economy

For the second year running, Deleum Bhd (KL:DELEUM) has emerged as the gold winner in the energy sector at The Edge Mal...

Deleum prioritises ESG principles to drive operational efficiency

Wasco Bhd (KL:WASCO) has won two silver awards in The Edge Malaysia ESG Awards 2024, for best  performer in the energy sector and most improved ESG performance over three years for companies with a market cap between RM800 million and RM5 billion.

Wasco aims for responsible and sustainable practices

CIMB Group (KL:CIMB) took home the gold award in the financial services category at The Edge Malaysia ESG Awards 2024. The company attributed the win to its focus on finding ways to systematically create synergy across its value chain.

CIMB sees sustainable finance from an ecosystem perspective

Allianz Malaysia Bhd (KL:ALLIANZ) won the silver award in the financial services sector at The Edge Malaysia ESG Awards 2024. This is thanks to the company’s team spirit and the commitment of its stakeholders, namely the board, senior management and operational managers.

Sustainability more than just a tick in the box for Allianz

For the second year in a row, Duopharma Biotech Bhd (KLSE:DPHARMA) has won gold in the healthcare sector at The Edge Malaysia ESG Awards 2024. Group managing director Leonard Ariff Abdul Shatar says one of the achievements he is proudest of is the progress made in the company’s climate action efforts.

Duopharma gets closer to net zero goals

For Hartalega Holdings Bhd (KL:HARTA), which emerged as the silver winner in The Edge Malaysia ESG Awards 2024 healthcare category, a significant milestone in 2024 was becoming the first in the glove industry to announce third-party reviewed carbon footprint data for three of its core products. This has set a new industry ESG benchmark.

Hartalega sets new industry benchmark

Petronas Chemicals Group Bhd (KL:PCHEM) has won the silver award in the industrial products and services category at The Edge Malaysia ESG Awards 2024.

PetChem drives innovations in plastics circularity

Leapmotor has struck a deal with Chinese state-owned automaker FAW to deliver an electric vehicle platform that will be used to drive overseas sales for Hongqi, an emerging national champion, executives from both companies said.

China's Leapmotor to supply EV platform to Hongqi, also in talks with Ferrari

KUALA LUMPUR (April 24): YTL Hotels has expanded its hospitality portfolio with the opening of two new properties — Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh.

YTL Hotels opens Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh

Norway's US$1.7 trillion (RM7.4 trillion) sovereign wealth fund, the world's largest, reported on Thursday a quarterly loss of 415 billion Norwegian crowns (US$39.72 billion) for the January to March period, largely driven by negative returns in the tech sector.

Norway wealth fund posts US$40b first-quarter loss on tech weakness

Singapore equities were set for an eighth straight session of gains on Thursday, marking their best winning streak since November 2022, as cooling inflation and demand for defensive stocks supported the benchmark index.

Singapore shares set for an eight-day rally; Asian FX muted 

Gucci sales tumbled in the first quarter as efforts to revive Kering SA’s biggest brand again failed to yield signs of a turnaround amid a tough period for the luxury-goods industry.

Gucci sales drop as Kering label struggles to revive demand

Abandoned housing has been a long-standing problem in Malaysia. According to the Real Estate and Housing Developers’ Association (Rehda) Institute in its recently released “Abandoned Housing — Challenges, Insights & Solutions Research Report”, the number of abandoned housing projects has been...

Stakeholder action needed to address abandoned housing issues, says Rehda Institute

China’s central bank chief Pan Gongsheng urged countries to help maintain confidence in the global economic system on a trip to the US, reiterating Chinese opposition to tariffs as American President Donald Trump signals a shift toward de-escalating tensions.

PBOC chief warns trade frictions threaten trust in world economy

Adidas AG reported better-than-expected earnings in the first quarter as consumers continue to snap up retro sneakers like the Samba in the face of growing economic uncertainty.

Adidas earnings bolstered again by retro sneaker craze

KUALA LUMPUR (April 24): The special sitting of Dewan Rakyat on May 5 to discuss the impact of the United States’ actions on the Malaysian economy will be held at the request of Prime Minister Datuk Seri Anwar Ibrahim.

Dewan Rakyat special sitting on May 5 held at PM’s request — Parliament

Rising tariffs and the weakening dollar are casting a shadow on companies’ profit guidance this earnings season, with more damage seen unfolding over the coming quarters.

US dollar’s slide raising red flags for corporate earnings

KUALA LUMPUR (April 24): The Ministry of Education issued an apology for an incorrect depiction of Malaysia’s national flag, the Jalur Gemilang, on an exam results analysis report distributed on Thursday.

Education Ministry apologises for Jalur Gemilang bungle in SPM results report

ACE-market listed LYC Healthcare Bhd (KL:LYC) said it has been served with a winding-up petition by SOG Mummy &amp; Baby Centre Pte Ltd for allegedly failing to settle an outstanding amount of RM600,000.

According to the petition, the amount owed is related to instalment payments due under a settlement reached in December 2024, which was subsequently restructured by both SOG Mummy and LYC Healthcare.

LYC Healthcare gets winding-up petition

IJM Corporation Bhd (KL:IJM) has acquired a 50% stake in financially troubled UK-based construction firm JRL Group for £50 million, or about RM283 million.

IJM Corp completes acquisition of troubled UK builder for RM283m

(April 24):&nbsp;Coffee shop operator Zuspresso Sdn Bhd&nbsp;plans to open nearly 200 new stores in Southeast Asia this year, after surpassing Starbucks as Malaysia’s largest coffee chain within five years of inception.&nbsp;

ZUS Coffee to add 200 Southeast Asia stores in Starbucks duel

A surge of complaints emerged on Thursday evening from investors across Bursa Malaysia, reporting that their accounts have been hacked and used for unauthorised trading activities.

Widespread hacks hit stock trading accounts in Malaysia

KUALA LUMPUR (April 24): Malaysia&nbsp;will need to mark down its growth forecast of 4.5% to 5.5% for the year, due to trade and tariff uncertainties, its central bank governor said.

Malaysia will need to revise down growth forecast, BNM governor says

KUALA LUMPUR (April 24): The Asian Development Bank (ADB) disbursed US$4.9 billion (RM21.5 billion) to Southeast Asia in 2024, with Malaysia getting the smallest slice of the allocation, its latest annual report showed.

Asian Development Bank disbursed US$4.9b to Southeast Asia in 2024, Malaysia received US$1.7m

KUALA LUMPUR (April 24): YTL Hotels has expanded its hospitality portfolio with the opening of two new properties — Moxy Kuala Lumpur Chinatown and AC Hotel by Marriott Ipoh.&nbsp;

(April 24):&nbsp;Online merchants are being inundated with suspicious offers to help avoid paying US tariffs&nbsp;on goods made in China.

‘Made in Malaysia’: Online sellers bombarded with ways to evade tariffs

Bursa Malaysia Bhd’s (KL:BURSA) net profit for the first quarter ended March 31, 2025 (1QFY2025) is expected to decline year-on-year, weighed down by a weaker securities average daily value (ADV) amid cautious market sentiment, according to CIMB Securities.

Bursa’s 1Q net profit could decline as much as 27% amid weaker securities average daily value — CIMB

China demanded that the US revoke all unilateral tariffs and said there were no talks on reaching a trade deal, maintaining a tough stance despite President Donald Trump’s easing of criticism of the country.

China says US should revoke all unilateral tariffs, denies talks

Former Goldman Sachs Group Inc banker Roger Ng Chong Hwa said that he first met fugitive Low Taek Jho (Jho Low) almost 20 years ago, just as the Terengganu Investment Authority (TIA)&nbsp;was about to set up.

1MDB-Tanore: Ex-Goldman banker Roger Ng says knew Jho Low around 2008/2009

The timeline for completion of the aerotrain project at the Kuala Lumpur&nbsp;International Airport (KLIA) is completely unrelated to the recent privatisation of Malaysia Airports Holdings Bhd (MAHB), said its chairman Dr Nungsari Ahmad Radhi.

Aerotrain completion timeline not affected by privatisation — MAHB chairman

RHB Investment Bank cautioned that inconsistent US trade policies could defer critical capital expenditure (capex) decisions and manufacturing reallocation timelines, pressuring technology sector earnings.

RHB cuts tech sector earnings amid volatile US trade policy that threatens capex, equipment demand

Malayan Banking Bhd (KL:MAYBANK) has announced the appointment of Nor Shahrizan Sulaiman as its officer-in-charge of Maybank Islamic Bhd, following the resignation of its Islamic banking group chief executive officer Datuk Muzaffar Hisham to pursue other professional interests.&nbsp;

Muzaffar Hisham leaves Maybank's Islamic arm, said to be headed for top role at Bank Pembangunan

Malaysia is positioning itself to become a key player in the rare earth elements (REE) value chain, amid a shifting geopolitical landscape and the ongoing trade war between the US and China.

Malaysia poised to capitalise on rare earth element opportunities amid trade war, says science minister

KUALA LUMPUR (April 24): Tenaga Nasional Bhd (TNB)(KL:TENAGA) has more than doubled its budgeted capital expenditure (capex) to RM42.9 billion — comprising RM26.6 billion in base capex and RM16.3 billion in contingent capex — to support infrastructure development for Malaysia’s energy transition.

TNB doubles capex to RM42.9b to back energy transition efforts

The new operator of Kuala Lumpur Tower, LSH Service Master&nbsp;Sdn Bhd (LSHSM), is working closely with the Ministry of Communications to determine a suitable date for the reopening of the iconic national landmark, following comprehensive maintenance and improvement works.

KL Tower reopening date to be set after major upgrade works, says LSH Service Master's CEO

(April 24):&nbsp;Investors increasingly expect Malaysia, Southeast Asia’s last holdout against interest rate cuts, to give in to mounting economic pressure from the global trade war.

Bets on Malaysia’s OPR cut mount as tariff shock dims growth outlook

KUALA LUMPUR (April 24): The Ministry of Transport (MOT) will begin enforcing checks on trucks at federal ports across Peninsular Malaysia starting July 1, 2025, for overloading, as part of efforts to tackle the issue of overloaded heavy vehicles.

The Edge ESG Awards 2024

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The Edge ESG Awards 2024

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