KUALA LUMPUR (Nov 29): Despite 95% of Malaysian companies setting sustainability goals or targets, only half (49%) have put into practice a comprehensive sustainability strategy, as revealed by the 2023 Schneider Electric Sustainability Survey released on Tuesday (Nov 28).

Sustainability survey: 46% gap between companies’ sustainability aspirations and actions

KUALA LUMPUR (Nov 27): Malaysian corporations need to improve their quantification of methane emissions and transparency in these disclosures, said several researchers during a policy brief launch and seminar on methane emissions last Friday (Nov 24).

Better monitoring and reporting of methane emissions needed

Since the concept of ESG (environmental, social and governance) took off a few years ago, companies have been responding to emerging — and still developing — regulatory requirements, as well as investor and client demands to integrate ESG considerations into their operations.

ESG 2023 - Special Issue : Walking The Talk

Jorge Rubio, global head of Citi Social Finance, is not a regular banker. He often has to switch out of his suit and tie to more comfortable attire so he can visit entrepreneurs providing innovative solutions that address pressing social issues around the world.

Banks: Committed to social financing

Neurodivergent young adults, like those with conditions such as autism, ADHD and dyslexia, often face unique challenges when finding and staying in a job. These difficulties stem from societal biases, workplace environments and the individuals’ characteristics that might not be understood by the larger public.

Banks: Embracing neurodiversity in the workplace

In 2016, Malayan Banking Bhd (Maybank) established an urban farm on the peripheral slopes of Menara Maybank in Kuala Lumpur where its employees could volunteer their time to tend to plants and vegetables.

Banks: Bankers who farm

Within certain circles in the corporate world, it is easy to think that everyone knows what environmental, social and governance (ESG) is and what corporations are expected to do with regard to sustainability. It has, after all, been the theme of many conferences and workshops held for corporates in recent years.

Overview: Does ESG have any impact?

When Smith & Nephew plc made its maiden foray into Malaysia in 2020, ensuring that the new manufacturing plant and the operations met the company’s goals of minimising its ecological footprint was non-negotiable.

Manufacturing: Starting from the top

Unlike the plastic room key cards that hotel guests usually receive upon arrival, Hyatt Centric Kota Kinabalu’s bamboo ones are a good surprise for environmentally conscious travellers. This is just one of the upscale Sabah hotel’s many sustainable initiatives.

Hospitality: Going plastic-free for a greener tomorrow

Climate change stands as one of the most daunting challenges of this era. Financial institutions are pivotal in addressing climate change due to their immense influence and resources. Their investments, lending practices and risk assessments can either accelerate or decelerate the transition to a low-carbon economy.

Finance: Engaging for change

Johan Rozali-Wathooth, founder and CEO of Bintang Capital Partners (Bintang), had a crude realisation about his legacy in his late 20s. He had clocked in almost a decade of work in the financial industry, implementing corporate restructuring strategies and making investments.

Finance: Building the B Corp movement in Asia

While it is difficult to assess whether Malaysian companies are “walking the talk”, many reports and surveys have been published, measuring how well public-listed companies are preparing their sustainability reports, a record of what the companies have measured, done and plan to do.

Infographic: How well are Malaysian companies doing on ESG?

In 2017, Lee Yuen How, the director of EV Connection Sdn Bhd (EVC), bought the only blue Renault Zoe available in Malaysia, which was a second-hand electric vehicle (EV). This was when EVs were not commonly seen on roads, much less EV chargers.

Automotive: Charging ahead of the EV trend

By the first hole of the Tropicana Golf & Country Resort (TGCR) stands a small pond, lush with vegetation and surrounded by coconut trees. Upon closer inspection, bright-coloured dragonflies of various species can be spotted perching on the tall and thin reeds.

Property: Unleashing a natural mosquito predator

Shares in Pharmaniaga Bhd fell in early trade on Thursday, after the pharmaceutical group proposed a regularisation plan that consists of a capital reduction, renounceable rights issue of news shares plus private placement, to raise up to RM654.61 million to pare down debts.

Pharmaniaga shares slip on 3Q net loss, capital reduction plan

The Kemaman by-election is crucial to ensure the continued strength of the unity government, and its ability to carry out various efforts to safeguard the welfare of the people, said Prime Minister Datuk Seri Anwar Ibrahim.

Kemaman by-election on Saturday crucial to ensure unity govt's strength, says Anwar

The Indian economy is likely to continue its strong growth in the quarter to end of September, helped by a solid urban consumption and government spending, outpacing a slowing global economy squeezed by elevated interest rates and higher energy prices.

Indian economy expected to sustain strong growth amid global gloom

Analysts lowered their target prices (TPs) for Axiata Group Bhd, after the telecommunications company’s net loss widened to RM797.41 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM52.4 million a year ago, mainly due to asset impairment and lower share of results from subsidiary CelcomDigi Bhd.

Analysts lower target prices for Axiata on wider 3Q net loss, frontier market risks

RHB Research says Farm Fresh is out of the woods

MORNING CALL: 30/11/23

As a rush of Wall Street strategists call for all-time highs in US stocks in the year ahead, JPMorgan Chase & Co stands apart, releasing the gloomiest forecast so far among its peers.

JPMorgan’s S&P 500 outlook for 2024 is grimmest on Wall Street

Warren Buffett’s Berkshire Hathaway Inc said the billionaire former owner of Pilot Travel Centers sought to influence Pilot executives’ business decisions in order to juice the company’s quarterly earnings and pump up the value of his remaining stake in the truck stop chain.

Buffett's Berkshire says billionaire Haslam promised illicit payments to juice Pilot’s profit

Alphabet Inc’s Google struck a deal with Canadian Prime Minister Justin Trudeau’s government over a contentious law requiring digital platforms to pay for news.

Google strikes deal with Canada to pay for online news

Federal prosecutors accused an Indian government agent of directing a thwarted plot to assassinate a Sikh separatist with US citizenship in New York, allegations that mirror a killing in Canada and risk inflaming already delicate US-India ties.

US accuses Indian agent in plot to kill US citizen in New York

FC Copenhagen earned a goalless draw at already-qualified Bayern Munich in their Champions League Group A match on Wednesday to snap their opponents' 17-game winning run in group-stage matches and stay in contention for a second-place finish.

Copenhagen snap Bayern's winning run in Champions League with goalless draw

Here is a brief recap of some corporate announcements that made news on Wednesday: Axiata Group Bhd, Cahya Mata Sarawak Bhd, Berjaya Corp Bhd, Mega First Corp Bhd, QL Resources Bhd, Sarawak Oil Palms Bhd, PPB Group Bhd, PJBumi Bhd, Apex Healthcare Bhd, Boustead Heavy Industries Corporation Bhd, FGV Holdings Bhd, Supermax Bhd, Genetec Technology Bhd, Icon Offshore Bhd, Titijaya Land Bhd, Public Bank Bhd, KSL Holdings Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Pharmaniaga Bhd.

Axiata, CMSB, Berjaya Corp, Mega First, QL Resources, Sarawak Oil Palms, PPB, PJBumi, Apex Healthcare, Boustead Heavy, FGV, Supermax, Genetec, Icon Offshore, Titijaya, Public Bank, KSL, MHB, Pharmaniaga

Supermax Corp Bhd logged a net loss of RM2.05 million in the first quarter ended Sept 30, 2023 (1QFY2024), marking the group's fourth straight loss-making quarter, as revenue shrunk amid weaker demand and persistent lower selling prices.&nbsp;

Supermax remains in the red, but narrows net loss in 1QFY2024 

Pharmaniaga Bhd, which has been granted seven concessions to provide medical supplies to public hospitals, is making a cash call via a renounceable rights issue of new shares plus private placement, to raise up to RM654.61 million to pare down debts.&nbsp;

Pharmaniaga proposes rights issue and private placement to raise up to RM654.6 mil fresh capital 

Pharmaniaga Bhd, which is making a cash call plus private placement to raise RM654.6 million in fresh equity, announced a net loss of RM49.34 million or 3.67 sen per share for the third quarter ended Sept 30, 2023 (3QFY2023), more than double the RM13.99 million net loss, or 1.07 sen per share, it logged a year earlier.

After vaccines impairment, Pharmaniaga makes RM65.2m provision for ‘stock obsolescence’

E-government service provider MyEG Services Bhd (MyEG) said it has received approval from the Road Transport Department (JPJ) to proceed with the pilot phase of the MyEG Drive Testing System (MYDTS) involving actual test candidates.

MyEG gets JPJ nod to start driving test system on actual candidates

UEM Sunrise Bhd said its former Canadian unit has been sued for defects in one of its buildings in the mixed residential and commercial use complex located in the province of British Columbia, known as Quintet Tower D.

UEM Sunrise's Canadian unit sued for defects in building

KUALA LUMPUR (Nov 29): Rapid KL has denied a viral post that there was an explosion or fire involving a Mass Rail Transit (MRT) train along the Kajang route this afternoon.

Rapid KL in a statement on Wednesday informed that the incident only involved the sound of a spark from train numb...

Rapid KL denies explosion involving MRT train

Titijaya Land Bhd reported an accident occurred on Tuesday night (Nov 28) at its purpose-built logistics facility construction site in Barat Daya, Penang, resulting in the death of a worker.

Titijaya Land confirms fatal accident at construction site in Penang

Oil and gas (O&amp;G) services provider Velesto Energy Bhd's net profit for the third quarter ended Sept 30, 2023 (3QFY2023) dropped 91.9% to RM1.22 million from RM14.97 million in the corresponding quarter a year ago, despite higher revenue, as it incurred higher operating and finance costs.

Velesto Energy's 3Q profit drops 91%, dragged by higher costs

Malaysia Building Society Bhd’s (MBSB) net profit dropped 44.3% to RM32.84 million or 0.46 sen for the third quarter ended Sept 30, 2023 (3QFY2023), from RM58.96 million or 0.82 sen a year earlier.

MBSB's 3Q net profit down 44% on higher opex, impairment

Oriental Holdings Bhd's net profit jumped 190.59% to RM297.42 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM102.35 million a year earlier, thanks to a gain from a bargain purchase on step acquisition of RM102.4 million as well as a gain on disposal of its associate of RM116.4 million.

Oriental Holdings 3Q net profit jumps on gain on disposal of associate

The US economy grew at an even faster pace in the third quarter than originally estimated, reflecting upward revisions to business investment and government spending.

US economy grew 5.2% in 3Q, more than first estimated 

MSCI's global equities index crept higher on Wednesday, while Treasury yields fell, as third-quarter data provided encouraging signs for the economy even as US&nbsp;Federal Reserve (Fed) officials provided mixed messages on monetary policy.

Equities gain while Treasury yields fall on data, talk of Fed rate cuts

Analysts lowered their target prices (TPs) for Axiata Group Bhd, after the telecommunications company’s net loss widened to RM797.41 million for the third quarter ended Sept 30, 2023 (3QFY2023), from RM52.4 million a year ago, mainly due to asset impairment and lower share of results from subsidiary CelcomDigi Bhd.

Warren Buffett’s Berkshire Hathaway Inc&nbsp;said the billionaire former owner of Pilot Travel Centers sought to influence Pilot executives’ business decisions in order to juice the company’s quarterly earnings and pump up the value of his remaining stake in the truck stop chain.

Expressing disappointment over the removal of the generational endgame (GEG) component in the revised tobacco bill, former health minister Datuk Seri Dr Dzulkefly Ahmad has nevertheless called on both government and opposition lawmakers to support the bill.

Ex-health minister Dzulkefly urges MPs to back revised tobacco bill despite dismay over GEG removal

US&nbsp;stocks edged lower on Wednesday as a robust upward gross domestic product (GDP) revision eased recession fears, while Federal Reserve (Fed) officials' remarks raised questions about the duration of the central bank's restrictive policy.

S&P 500 ends lower on mixed Fed messages, PCE on deck

As a rush of Wall Street strategists call for all-time highs in US stocks in the year ahead, JPMorgan Chase &amp; Co&nbsp;stands apart, releasing the gloomiest forecast so far among its peers.

Genetec Technology Bhd, which completed its transition to Main Market of Bursa Malaysia last month, saw its net profit fall 26.35% to RM18.45 million for the second quarter ended Sept 30, 2023 (2QFY2024) from RM25.06 million in the corresponding quarter a year ago, due to loss on foreign exchange and lower margin in product mix, despite higher revenue.

Genetec 2Q profit falls 26% amid forex loss, lower margin

Icon Offshore Bhd said third quarter net profit fell 18.83% to RM6.21 million, from RM7.65 million a year earlier, mainly due to the loss from its drilling segment.

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