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

The ceasefire agreement that paused the war between Israel and the Hezbollah militia in Lebanon will likely be extended when it expires next week, according to several people familiar with the matter.

The Iran-backed group and the Israelis are unlikely to resume full-scale fighting despite needing more time to implement the original terms of the truce, which started in late November, according to Lebanese, Israeli and French government officials involved in ongoing talks.

Israel-Hezbollah ceasefire set to be extended beyond next week

Türkiye has detained 11 people as part of an investigation into a fire that killed 76 people and injured dozens at a ski resort in the Bolu mountains, Justice Minister Yilmaz Tunc said on Wednesday.

A deputy mayor of the northwestern Bolu province, the head of the municipality's fire department, the owner and the manager of the hotel were among those detained, Tunc said on X.

Türkiye detains 11 over ski resort hotel fire that killed 76

US President Donald Trump on Wednesday threatened Russia "and other participating countries" with taxes, tariffs and sanctions if a deal to end the war in Ukraine is not struck soon.

Without a deal, Trump said in a post on Truth Social, "I have no other choice but to put high levels of Taxes, Tariffs, and Sanctions on anything being sold by Russia to the United States, and various other participating countries."

Trump threatens Russia, others with sanctions if Ukraine deal not reached

Amazon.com Inc will shut down all warehouses and lay off employees in the French-speaking Canadian province of Quebec.

“Following a recent review of our Quebec operations, we’ve seen that returning to a third-party delivery model supported by local small businesses, similar to what we had until 2020, will allow us to provide the same great service and even more savings to our customers over the long run,” said Amazon spokesperson Barbara Agrait in an emailed statement.

Amazon to close warehouses in Quebec, slashing 1,900 jobs

Gold prices soared to near three-month highs on Wednesday, trading below its record peak, fuelled by a soft dollar and lack of clarity around US President Donald Trump's policy plans, which investors fear could trigger trade wars and elevate market volatility.

Spot gold added 0.3% to US$2,753.79 per ounce as of 9.45am ET (1445 GMT). Prices were at their highest since Oct 31 when they hit their all-time-high of US$2,790.15.

Trump uncertainties push safe-haven gold to near all-time highs

Export-Import Bank of Malaysia Bhd (EXIM Bank) has filed a lawsuit against instant coffee manufacturer Power Root Bhd (KL:PWROOT), seeking RM7.39 million over insurance claim payout dispute. 

According to Power Root’s filing with Bursa Malaysia on Wednesday, EXIM Bank is demanding repayment of RM675,509.22 disbursed to its subsidiaries, namely Power Root (M) Sdn Bhd (PRM), Power Root Manufacturing Sdn Bhd (PRMFG), and Power Root ME Free Zone Company (PRME).

Power Root sued by EXIM Bank over insurance claim payout 

Asean is progressing cautiously on Myanmar as it is critical to secure peace in the country, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim.

He said Asean’s approach is not about enforcing a particular system but ensuring inclusivity and peace as well as the importance of participatory democracy.

Asean takes cautious approach on Myanmar, critical to secure peace — Anwar

Sustainability can sometimes be seen as a concept only achievable by those with resources, but it can also be practised by smallholders and bring about financial benefits, according to the Roundtable on Sustainable Palm Oil (RSPO).

According to RSPO, 85% of oil palm plantation owners ar...

Agriculture: Sustainable palm oil practices in Surat Thani province

KPMG International’s Survey of Sustainability Reporting 2024, published in December, highlights that sustainability reporting has become a routine part of business operations for nearly all of the top 100 companies in each country. Notably, Malaysia is among seven countries where all top 100 companies report on their sustainability efforts.

Top global companies make sustainability reporting part of core practice

Litigation and enforcement, particularly related to ESG matters, have seen a significant uptrend recently. While corporate sustainability and climate change have long been contemplated in corporate decision-making, the increased global emphasis on ESG has brought litigation in this area to the fo...

Views: The global trend in ESG litigation: Lessons for Malaysia

Malaysia's currency hit a six-week high and stocks advanced for a fourth straight session on Wednesday ahead of a central bank policy decision, while a gauge of emerging Asian equities reversed course weighed by China on US tariff plans.

Ringgit extends gains as BNM holds rates; China stocks drag 

Arina, Sime Darby Property Bhd’s (KL:SIMEPROP) first single-storey linked homes in Bandar Ainsdale, achieved full take-up of all 118 units within hours of its launch on Saturday, Jan 18.

Sime Darby Property’s Arina single-storey homes in Bandar Ainsdale fully taken up within hours of launch

Export-Import Bank of Malaysia Bhd (EXIM Bank) has filed a lawsuit against instant coffee manufacturer Power Root Bhd (KL:PWROOT), seeking RM7.39 million over insurance claim payout dispute.&nbsp;

According to Power Root’s filing with Bursa Malaysia on Wednesday, EXIM Bank is demanding repayment of RM675,509.22 disbursed to its subsidiaries, namely Power Root (M) Sdn Bhd (PRM), Power Root Manufacturing Sdn Bhd (PRMFG), and Power Root ME Free Zone Company (PRME).

HSBC Bank Malaysia Bhd has officially opened its flagship wealth centre in&nbsp;Menara IQ at the Tun Razak Exchange (TRX), Malaysia’s international financial hub,&nbsp;to serve its high-net-worth clients.

HSBC Malaysia opens flagship wealth centre at TRX to serve high-net-worth clients

Analysts are positive on Sunway Real Estate Investment Trust’s (KL:SUNREIT) acquisition of AEON Mall Seri Manjung in Perak, prompting revisions of their earnings forecasts.

Analysts raise Sunway REIT earnings forecasts after AEON Mall acquisition in Perak

A fugitive banker accused of orchestrating a US$1 billion (RM4.45 billion) fraud in Moldova appears to be helping Russian lenders and businesses to continue conducting foreign trade amid payment problems caused by sanctions.

Fugitive banker may be helping Russian firms beat US sanctions

SRC International Sdn Bhd’s former director Datuk Suboh Md Yasin told the High Court on Wednesday that he signed four blank cheques that led to RM19.5 million going to Umno and Umno Selangor.

Former SRC director says he signed blank cheques, didn’t know payments were to Umno

KUALA LUMPUR (Jan 22): Bank Negara Malaysia (BNM) on Wednesday kept the benchmark interest rate unchanged as widely expected, comfortable with its outlook for sustained economic growth and manageable inflation.

BNM keeps OPR steady, takes comfort in sustained growth

The public portion of ACE Market-bound Northern Solar Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 73.2&nbsp;times.&nbsp;

Northern Solar's IPO oversubscribed by 73.2 times

Datuk Seri Najib Razak denies seeking royalties from the Middle East to help stepson Riza Aziz over his alleged entanglement with 1Malaysia Development Bhd (1MDB) funds, the court heard on Wednesday.

Najib says stepson was already servicing loan from Emerati prince, phone call only to formalise agreement

The&nbsp;industrial subsector&nbsp;is expected to continue&nbsp;its positive trend&nbsp;in 2025,&nbsp;according to&nbsp;Henry Butcher Malaysia&nbsp;chief operating officer Tang Chee Meng. The Henry Butcher Perspective — Malaysia Property Outlook 2025 report, which was&nbsp;launched&nbsp;on Wednesday, noted that&nbsp;the&nbsp;volume of industrial transactions in the first nine months of 2024 (9M2024)&nbsp;increased by 6.5%, while the value rose 22.8%.

Henry Butcher: Malaysia's industrial subsector to continue strong performance

KUALA LUMPUR (Jan 22): Mah Sing Group Bhd’s (KL:MAHSING) proposed acquisition of land in Sentul, its first deal of the year, is being done at fair and attractive&nbsp;valuations, analysts said.

Mah Sing's first land deal in 2025 is fair and attractive, analysts say

Former prime minister Datuk Seri Najib Razak claimed that he was being prosecuted for "being transparent" on how he spent the purported donation from the Middle East.

The now-imprisoned 71-year-old, said that he could have easily utilised the donation monies in the form of cash but did not do so and specifically used cheques because he knew it would be documented.

1MDB-Tanore trial: Najib denies abusing funds, says used cheques to be 'transparent'

Malaysia’s international reserves fell by US$700 million by mid-January this year, from a fortnight earlier, according to Bank Negara Malaysia (BNM).

BNM: Malaysia’s international reserves down to US$115.5b as at mid-January

Datuk Seri Najib Razak said he did not interfere with the attorney general’s (AG) prosecutorial discretion while he was prime minister.&nbsp;

Najib claims he was mindful not to interfere in AG's prosecutions 

GEORGE TOWN (Jan 22): Penang International Airport recorded 51.43% higher year-on-year tourist arrivals from India in 2024, reflecting the state government's successful tourism strategies in this market.&nbsp;

Penang Int’l Airport records 51.43% higher tourist arrival from India in 2024

KUALA LUMPUR (Jan 22): The risk of overbuilding of residential properties would become more apparent in the coming years, particularly in high-growth cities, according to JLL Appraisal &amp; Property Services Sdn Bhd (JLL Malaysia).

JLL Malaysia: Risk of overbuilding as market sentiment improves

Malaysia’s inflation is expected to reverse its current downtrend&nbsp;and gradually rise from mid-2025, driven by subsidy rationalisation, tax adjustments, and wage increases, according to economists.

Economists warn of short-lived inflation downtrend, predict gradual rebound by mid-2025

Investors looking for opportunities in Malaysia are recommended to look beyond data centre-related stocks and proxies to artificial intelligence (AI), amid the US restriction on AI chip exports, said Manulife Investment Management (Manulife IM).

Look beyond Malaysian proxies of data centres, says Manulife IM

Gateway Development Alliance Sdn Bhd (GDA) and its shareholders (the consortium) have refuted any suggestion that the offer for Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) has been undertaken in anything other than full compliance with the Securities Commission Malaysia’s (SC) Rules on Takeovers, Mergers and Compulsory Acquisitions.

The Edge ESG Awards 2024

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The Edge ESG Awards 2024

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