Day: July 17, 2024

KUALA LUMPUR, The aerotrain service at the Kuala Lumpur International Airport (KLIA) is expected to be operational in the first quarter of 2025, according to the Transport Ministry (MOT). This is in line with the aerotrain replacement plan at Terminal 1, KLIA, scheduled to be completed by Jan 31, 2025, it said. “MOT and Malaysia Airports Holding Bhd (MAHB) are committed to ensuring that the aerotrain replacement plan runs according to the set timeline,” MOT said on the Parliament website on Tuesday in response to Mohd Nazri Abu Hassan (Perikatan Nasional-Merbok) on the status of the KLIA aerotrain replacement including

KUALA LUMPUR, Tanjung Bruas Port Sdn Bhd (TBPSB) has no plans to turn Tanjung Bruas Port (TBP) into a sea air cargo hub at this time, according to the Ministry of Transport (MoT). In a written response published on the Parliament website on Tuesday, the MoT stated that TBPSB, the port operator at TBP, does not handle any import or export cargoes via airports (Kuala Lumpur International Airport, Subang, and Senai). “As the main gateway for import and export to Melaka, TBP has great potential to expand and become a main multi-purpose port for Melaka, Negeri Sembilan, and northern Johor,”

KUALA LUMPUR, The Plantation and Commodities Ministry has urged international industry players to recognise the Malaysian Sustainable Palm Oil (MSPO) certification scheme, which is dedicated to the sustainability of the palm oil industry. Deputy Minister Datuk Chan Foong Hin said it is an ongoing government effort to promote sustainability in the Malaysian palm oil industry. “We have three major markets, India, China, and the European Union. Each of these markets has distinct characteristics. “For instance, India primarily purchases crude palm oil, China focuses more on processed palm oil, and the European market is highly concerned about the sustainability of the

KUALA LUMPUR, Petroliam Nasional Bhd (Petronas) will only make a cash payment of five per cent to the Terengganu state government if petroleum is discovered and extracted within the state. Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said stated that this is based on the cash payment agreement signed between Petronas and the Terengganu state government on March 22, 1975, in accordance with section 4 of the Petroleum Development Act (PDA). She said the provisions of the PDA should be read alongside the Territorial Sea Act 2012 [Act 750] (TSA), which defines the

KUALA LUMPUR, The enduring impact of artificial intelligence (AI) on the global asset management sector is likely to be cost-saving rather than delivering investment outperformance, according to Moody’s Ratings. The agency noted that firms with ample resources that fully embrace AI-powered automation will see the greatest benefits, but AI will not provide sustained market outperformance for the industry. It said AI’s latest advancements have the potential to significantly enhance workflow efficiency and automation at asset management firms by boosting productivity, upgrading products and improving services. However, advanced AI will not enable all asset managers to outperform the market. ‘The enduring