Category: Business

KUALA LUMPUR,, Lotte Chemical Titan Holding Bhd’s (LCT) net loss of RM248.88 million narrowed in the second quarter ended June 30, 2024 (2Q FY2024) against a net loss of RM313.47 million in the same quarter last year. In a filing with Bursa Malaysia, it attributed the narrowing of its net loss to lower sales volume, lower gross negative margin, and a lower write-down of inventories to its net realisable value. Revenue for the 2Q FY2024 declined to RM1.78 billion compared with RM1.86 billion a year ago. On a cumulative six-month basis, the group’s net loss fell 19 per cent to

GEORGE TOWN,, The Small and Medium Enterprises Association of Malaysia (SAMENTA) will intensify its efforts to assist small and medium enterprises (SMEs) in the country, in improving their compliance with environmental, social, and governance (ESG) standards. Its president Datuk William Ng said many SMEs still struggle with meeting these essential standards, which are crucial for maintaining competitiveness in the industry. ‘There are numerous issues requiring SAMENTA’s attention, but ESG compliance is a particularly pressing one. We aim to support SMEs in addressing this challenge, by enhancing their understanding and knowledge of ESG requirements,’ he said. In addition to ESG compliance,

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,, The Retirement Fund Inc’s (KWAP) net income surged 36-times to RM9.7 billion for the financial year 2023 (FY2023) — its second highest figure since 2017– compared to RM263 million reported in 2022. Chief investment officer Hazman Hilmi Sallahuddin attributed this substantial growth to the challenging conditions of 2022, which saw KWAP encountering unrealised losses from its domestic and international investments. The fund also achieved a robust total fund investment return of 8.2 per cent for the year. ‘In FY2023, KWAP’s fund size grew to RM169.8 billion, marking a 7.4 per cent increase from RM158.1 billion in 2022,’ he

GEORGE TOWN,, The Small and Medium Enterprises Association of Malaysia (SAMENTA) will intensify its efforts to assist small and medium enterprises (SMEs) in the country, in improving their compliance with environmental, social, and governance (ESG) standards. Its president Datuk William Ng said many SMEs still struggle with meeting these essential standards, which are crucial for maintaining competitiveness in the industry. ‘There are numerous issues requiring SAMENTA’s attention, but ESG compliance is a particularly pressing one. We aim to support SMEs in addressing this challenge, by enhancing their understanding and knowledge of ESG requirements,’ he said. In addition to ESG compliance,