Business

KUALA LUMPUR,, Global commercial air passenger traffic for the aviation industry, measured in revenue passenger-kilometres (RPK), remained on its steady growth trend in June 2024, rising 9.1 per cent year-on-year (y-o-y). In a statement today, the International Air Transport Association (IATA) said total capacity, measured in available seat kilometres (ASK), was up 8.5 per cent y-o-y, while June load factor was 85 per cent (+0.5 percentage points (ppt) compared to June 2023). ‘International demand rose 12.3 per cent compared to June 2023. Capacity was up 12.7 per cent y-o-y, and the load factor improved to 85 per cent (-0.3 ppt

KUALA LUMPUR,, The Retirement Fund Inc (KWAP) plans to increase its international investment exposure to 30 per cent by 2025 although the local market has recently showed an improved performance. Chief investment officer Hazman Hilmi Sallahuddin said that as of 2023, 24.4 per cent of KWAP’s investment assets were allocated internationally. “We are currently on track. The local market is much better than before, but in the long term, we aim to balance our investment exposure to 70 per cent local and 30 per cent international, which we believe is more sustainable,” he said during KWAP’s financial year 2023 performance

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,, Infomina Bhd has accepted a letter of acceptance from the Ministry of Home Affairs, amounting to RM34.71 million. In a filing with Bursa Malaysia today, the technology company said the award is for the provision of technology application and infrastructure operations, maintenance and support services. The service is to provide key support to the ministry’s core application, including data and storage management, workload automation, report and spool management and holistic database analysis and management for three years commencing Aug 1, 2024, to July 31, 2027. “This is expected to contribute positively to the earnings of the Infomina group

KUALA LUMPUR,, The Inland Revenue Board of Malaysia (IRB) has launched the MyInvois portal, kicking off its implementation of e-invoicing effective Aug 1, 2024. In a statement today, the IRB said the move will strengthen the country’s taxation system, increase transparency, and provide a more accurate assessment of compliance risk. The statement said e-invoicing will be implemented in stages, with the first phase involving 5,000 companies with recorded annual revenue or sales exceeding RM100 million starting Aug 1, 2024. “The second phase will start on Jan 1, 2025, involving companies with annual revenue or sales of between RM25 million and