Day: July 31, 2024

KUALA LUMPUR,, Global credit rating agency, AM Best has maintained a stable outlook on Vietnam’s non-life insurance segment, citing accelerating non-life premium growth and increased demand for commercial lines insurance. In its latest Best’s Market Segment Report, ‘Market Segment Outlook: Vietnam Non-Life Insurance’, the rating agency notes the country’s Insurance Business Law as a recent regulatory refinement supporting the stable outlook, as the newly adopted requirements on risk management, internal controls, internal audits and actuarial standards are expected to enhance risk governance and strengthen financial conduct. Property insurance was a key business growth driver in 2023, in which government spending

KUALA LUMPUR,, Malaysia should conduct a comprehensive economic study on sustainability criteria, commercial availability, and technology readiness of multiple potential technology pathways to boost the production of sustainable aviation fuel (SAF), said experts. President of Malaysia Biomass Industries Confederation Datuk Leong Kin Mun said the development of SAF in Malaysia offers a significant opportunity to utilise the country’s abundant oil palm biomass, crude palm oil (CPO), and sludge palm oil. He noted that Malaysia generates approximately 95 million dry tonnes of solid palm biomass annually and 18 million tonnes of CPO and sludge palm oil, all recognised as Carbon Offsetting

KUALA LUMPUR,, Yong Tai Bhd will sell its five-star Courtyard by Marriott Melaka hotel to Southern Envoy Sdn Bhd for RM160 million. In a Bursa Malaysia filing today, Yong Tai said its wholly-owned subsidiary, Apple 99 Development Sdn Bhd has entered into a conditional sale and purchase agreement with Southern Envoy. It said the proposed sale of the hotel represents an opportunity for Yong Tai to immediately unlock the hotel’s value, and it is expected to provide an estimated net pro forma gain on disposal of approximately RM45.86 million. ‘The proposed disposal will give rise to RM160 million in proceeds