Home / Business & Finance

Business & Finance

Mydin Holdings becomes first retailer to install solar PV

KUALA LUMPUR, Mydin Mohamed Holdings Bhd (Mydin) has become the first chain retailer to install solar rooftop photovoltaic (PV) at Mydin Mall Manjoi, Ipoh, Perak.

Tenaga Nasional Bhd through its subsidiary, GSPARX Sdn Bhd has sealed a supply agreement for renewable energy (SARE) with Mydin Holdings for the installation.

The 324 kilowatt-peak (kWp) solar PV is expected to generate up to RM3.24 million in electricity bill savings within the project’s 25-year duration.

Mydin Holdings managing director Datuk Dr Ameer Ali Mydin said the agreement could spark similar venture between both parties going forward.

Mydin-TNB collaboration is a contribution to energy sustainability for the good of the organisation, community, and country, he said in a statement.

The agreement was signed by TNB chief ventures officer and GSPARX director Datuk Nor Azman Mufti, TNB chief retail officer Megat Jalaludin Megat Hassan and Mydin executive director Datuk Murad Ali Mydin at Mydin Holdings, Subang Jaya, last week.

Meanwhile, Megat Jalaluddin said the collaboration will generate green energy supply for Mydin.

This contribution is in line with the government’s aspiration to reach 20 per cent renewable energy generation by 2025, he added.

The agreement, which also covers the net energy metering scheme will allow Mydin to transfer the surplus of energy generated to TNB, at the same rate of electricity charges.

TNB aspires to generate 1, 700 MW RE by 2025.

Source: BERNAMA (News Agency)

Symphony Healths national market measurement tool launched – PRA Health Sciences

KUALA LUMPUR, PRA Health Sciences, a full-service global contract research organisation has launched Symphony Health’s new national market measurement tool, Metys�.

Symphony Health is a wholly-owned subsidiary of PRA Health Sciences, according to a statement.

Metys is the only completely integrated, all-in-one market research solution available from a contract research organisation, delivering pharmaceutical market analytics and intelligence that is both timely and comprehensive.

PRA and Symphony Health have developed a solution that quickly and efficiently brings all data to the clients’ fingertips within the Metys� platform, said Symphony Health president, Doug Fulling.

This offering affirms our commitment to serving our clients at the highest level with tools that will move their businesses forward, while also reinforcing our culture of innovation and excellence.

Powered by IDV�, Metys intelligently integrates prescriber, payer and patient data assets. Source of business, managed care and other key metrics are also included and provide a complete picture of market activity.

More information at http://prahs.com and https://symphonyhealth.prahs.com.

Source: BERNAMA (News Agency)

Mydin Holdings becomes first retailer to install solar PV

KUALA LUMPUR, Mydin Mohamed Holdings Bhd (Mydin) has become the first chain retailer to install solar rooftop photovoltaic (PV) at Mydin Mall Manjoi, Ipoh, Perak.

Tenaga Nasional Bhd through its subsidiary, GSPARX Sdn Bhd has sealed a supply agreement for renewable energy (SARE) with Mydin Holdings for the installation.

The 324 kilowatt-peak (kWp) solar PV is expected to generate up to RM3.24 million in electricity bill savings within the project’s 25-year duration.

Mydin Holdings managing director Datuk Dr Ameer Ali Mydin said the agreement could spark similar venture between both parties going forward.

Mydin-TNB collaboration is a contribution to energy sustainability for the good of the organisation, community, and country, he said in a statement.

The agreement was signed by TNB chief ventures officer and GSPARX director Datuk Nor Azman Mufti, TNB chief retail officer Megat Jalaludin Megat Hassan and Mydin executive director Datuk Murad Ali Mydin at Mydin Holdings, Subang Jaya, last week.

Meanwhile, Megat Jalaluddin said the collaboration will generate green energy supply for Mydin.

This contribution is in line with the government’s aspiration to reach 20 per cent renewable energy generation by 2025, he added.

The agreement, which also covers the net energy metering scheme will allow Mydin to transfer the surplus of energy generated to TNB, at the same rate of electricity charges.

TNB aspires to generate 1, 700 MW RE by 2025.

Source: BERNAMA (News Agency)

Penang aims to lure more business events from UK

GEORGE TOWN, The state government aims to position Penang as a preferred destination for organisers from the United Kingdom (UK) to hold business events over the long term, state Exco for Tourism, Arts, Culture and Heritage, Yeoh Soon Hin said today.

He said business events were among the areas the state government aims to promote as a reason for people to come to the island state, besides making it known as a cruise point, for medical treatment, leisure or group tours.

For Penang, tourism is a sector which now matters more than before. I believe Penang is also progressing at an unstoppable pace to further market and promote itself as a destination to not be missed, he added.

Yeoh made these remarks at a press conference here today before the signing of a memorandum of understanding (MOU) between the Penang Convention and Exhibition Bureau (PCEB) and The Meetings Show, London (TMS London) to mark their partnership for the BE @ Penang 2019 .

The BE @ Penang is Malaysia’s largest business conference from Dec 5-6 this year and will run concurrently with the International Congress and Convention Association (ICCA) Asia Pacific Summit at the Setia SPICE Convention Centre here.

The MOU was signed between PCEB Chief Executive Officer G Ashwin and TMS London Commercial Director, Ross Barker.

The PCEB is a state bureau established to develop business events and meetings, incentives and conventions and exhibitions (MICE) in Penang, while TMS London is UK’s largest corporate meetings and incentives tradeshow organiser.

Yeoh said the UK had a significant market for Penang business events and TMS London was one of the platforms to promote the state to the people of the country.

Through this milestone, Penang will be able to improve its efforts to market Penang further as a destination for business events and the tourism industry of the UK, he added.

Source: BERNAMA (News Agency)

MIDF maintains “negative” call on plantation industry on set of challenges

KUALA LUMPUR, MIDF Research set a negative call on the plantation sector after considering its challenges, including the European Union (EU)’s decision to phase out palm oil.

The sector also faces difficulties to achieve 100 per cent Malaysian Sustainable Palm Oil (MSPO) by 2020, including the low uptake of certified sustainable palm oil, said the research house in a note today.

It said the palm oil industry has been in the limelight for various sustainability issues, including being labelled the main cause of rapid deforestation and wildlife extinction, especially from the EU.

The negative perception has put palm oil in a less favourable position as compared to other rival crops even though palm oil is the most efficient and versatile oil crop, it said, adding that the matter is made worse with EU labelling the commodity as having high indirect land-use change (ILUC) risk crop and earmarks it to be excluded as a source for biofuel by 2030.

Currently, about 800,000 metric tonnes of palm oil is used in the production of biofuel in EU for cars and trucks, and this represents five per cent of total Malaysian palm oil export or half of the palm oil import to the region.

In effect, we should see a similar amount of excess in the market should the ban was accounted for, which could lead to an oversupply of MSPO-certified palm oil in the market, it added.

Meanwhile, the government has mandated that all oil palm groups are to be MSPO-certified, including those who have obtained Roundtable Sustainable Palm Oil status in the country by the end of 2019.

However, as at June 30, 2019, less than 50 per cent of oil palm planted area is certified.

Palm oil producers might be reluctant to obtain MSPO given the additional costs and unattractive premium which weigh on their profitability, said the research house.

At this juncture, pending further development, we are maintaining our negative view on the sector with an unchanged crude palm oil price of RM2,090 per tonne for 2019, it said.

MIDF said certified plantation companies under its coverage are Genting Plantation, IOI Corporation, IJM Plantation, Kuala Lumpur Kepong, PPB Group, Ta Ann Holdings, Sime Darby Plantation and FGV Holdings.

Source: BERNAMA (News Agency)

Maideasy aims to be an integrated domestic service provider

KUALA LUMPUR, Maideasy, a homegrown platform to hire cleaners, is striving to be a leading integrated domestic service provider in Malaysia that is supported 100 per cent by local maids.

Co-founder Meriza Mustapha said at present, the industry is dominated mainly by foreigners who make up about 300,000 registered maids.

“We choose not to hire foreigners because of trust and culture issues.

Secondly, statistics show the money outflow from Malaysia from the industry is worth half a billion ringgit a month. By hiring locals, we are keeping the money within our economy and helping the B40 group to earn more,” she told Bernama in an interview.

Maideasy, set up four years ago, offers general help for ironing and in the kitchen as well as specialist cleaning like spring cleaning and moving cleaning, among others.

Meriza said Maideasy is gearing up for expansion into new cities with an affluent population outside its present markets — the Klang Valley, Nilai and Seremban — and adding new services to complement its existing products.

Definitely, we are looking to expand nationwide but we need to do research on areas to cover and how to hire maids.

In the next six months, we will venture into one more city, she said without revealing the location.

Meriza said the company is also in discussion with a few parties for possible partnerships in the industry.

We are talking with a few start-ups doing complementary services such as laundry and grocery and are studying areas where we can work together in the future, she added.

On average, she said, about 500 local maids worked with Maideasy every month, comprising mainly housewives, students and full-time employees from the B40 group.

“We realise they have ambitions but not the knowledge or training to move forward, and that is why we are providing training for them such as communications classes,” Meriza said.

She said most of them work with Maideasy to raise funds to start their own business, to further their studies or to get married.

“On average, they can earn more than RM2,000 if they work four days a week in the morning and afternoon,” Meriza said.

Source: BERNAMA (News Agency)

BearingPoint earns FinTech and RegTech Global Award 2019 in Singapore

KUALA LUMPUR, BearingPoint RegTech has bagged the FinTech and RegTech Global Award 2019 in the ‘Distributed Ledger Technology Provider of the Year’ category.

BearingPoint has convinced the award jury with proof of concept (PoC) of a blockchain-based and thus innovative and cost-effective approach to face the growing complexity of regulatory reporting.

With its PoC, BearingPoint has shown that the use of distributed ledger technology (DLT) – also known as blockchain – can reduce the regulatory effort.

The award was received by RegTech DLT manager and head, Moritz Plenk during the Central Banking FinTech and RegTech Global Summit in Singapore recently.

Plenk said: When two banks submit a transaction report through a DLT-based network, these two transaction partners always have identical and reportable data on their so-called ledgers.

The third actor in the DLT network, the regulator, can view and extract the data from the two ledgers in real time. Inconsistent transaction data can be avoided, and the efficiency of transaction-based reporting can be increased.

With the award, Central Banking recognises relevant players among central banks, supervisory authorities and technology as well as consulting companies, for their outstanding achievements and successes.

BearingPoint RegTech is a business unit of management and technology consultancy, BearingPoint. More details at https://www.reg.tech/en/

Source: BERNAMA (News Agency)