Day: September 25, 2024

KUALA LUMPUR, LyondellBasell (LYB), a leader in the global chemical industry, has signed a power purchase agreement (PPA) with Eneco N.V., bringing its total secured renewable electricity capacity to 100 per cent of its renewable electricity procurement target. ‘Taking climate action is a key part of our strategy to create value for our stakeholders, the environment and society. I am therefore delighted that this latest agreement will help us reach our 2030 renewable electricity goal once all projects become operational. ‘Power Purchase Agreements are a critical lever in our efforts to reduce our absolute scope 1 and 2 greenhouse gas

KUALA LUMPUR, CIMB Securities Sdn Bhd expects the Malaysian Communications and Multimedia Commission (MCMC) to announce the winner of the spectrum for the second 5G network (under Entity B) next week, two months after the telcos’ submission of applications on July 31. In a note today, CIMB Securities said it believes CelcomDigi Bhd (CDB), Maxis Bhd and U Mobile Sdn Bhd to be the final contenders. ‘As telecommunications (telcos) submitted standalone applications (given the tight one-month deadline), we expect MCMC to announce a sole winner. ‘However, soon thereafter, we expect the winning telco to enter into equity partnership, or long-term

AirAsia X Bhd (AAX) has released a detailed circular on the RM6.8 billion acquisition of Capital A Bhd’s entire equity stake in AirAsia Aviation Group Ltd (AAAGL) and AirAsia Bhd (AAB) for its shareholders’ review ahead of its Extraordinary General Meeting on Oct 16. In a statement, AAX said the proposed acquisition aims to create a focused aviation powerhouse, encompassing seven airlines across Malaysia, Thailand, Indonesia, the Philippines, and Cambodia. ‘Upon completion of the transaction, the new aviation group will cover the full spectrum of short, medium, and long-haul air travel services to capitalise on growing travel demand,’ it said.

KUALA LUMPUR, Xsolla, a global video game commerce company, announced the appointment of Zoran Vasiljev as its Senior Vice President of Global Strategic Partnerships, effective Oct 1. Xsolla Founder and Chief Executive Officer, Shurick Agapitov said the company is confident that Vasiljev will play a crucial role in enhancing its strategic partnerships and driving its continued success in the gaming industry. ‘His extensive experience and proven leadership in the digital and telecom sectors perfectly align with our vision of advancing game commerce and expanding our global reach,’ he said in a statement. Meanwhile, Vasiljev said: ‘The dynamic evolution of mobile

KUALA LUMPUR, Hong Kong’s new risk-based capital regulatory framework is expected to strengthen enterprise risk management (ERM) practices among the (re)insurers doing business there, according to a new AM Best report. The Best’s Special Report includes details and analysis on the risk-based framework that was implemented on July 1, replacing the legacy Hong Kong insurance ordinance-based regime. According to AM Best in a statement, the new regulatory framework comprises three individual pillars that address quantitative requirements, qualitative requirements and disclosure requirements. In addition to the three pillars, the Hong Kong Insurance Authority (HKIA) also has established an approach toward group-wide