Business

KUALA LUMPUR, Standard Chartered (Stanchart) has maintained Malaysia’s gross domestic product (GDP) growth for 2024 at 4.8 per cent, aligned with Bank Negara Malaysia’s projection of four to five per cent. Its head of Managed Investments and Advisory, Malaysia, Ng Shin Seong said this projection, however, has not taken into consideration the future measures on subsidy rationalisation. “On the fuel subsidy (diesel), we think it is a very targeted approach and the people that needs help will get some help back. “The subsidy rationalisation (on diesel) will help the government’s fiscal position and we think it is an upside for

KUALA LUMPUR, Kolmar Korea has appointed a new head for its North American operations and a Global Chief Commercial Officer (GCCO) to speed up its global expansion in the cosmetics industry to its North American subsidiary. With the plan to build its second United States (US) plant early next year, the company has also set up a strategic framework that integrates production, sales, and research and development (RandD) to better penetrate the local market. ‘This appointment underscores our commitment to gaining new momentum in the North American market by placing industry experts at the forefront. Kolmar Korea will focus on

KUALA LUMPUR, The Employees Provident Fund (EPF) has published the EPF Sustainable Investment Stewardship Policy, becoming the first institutional investor in Malaysia to publish a standalone stewardship policy for sustainable investment. The policy outlines the processes and guidelines that the fund follows to promote good sustainability practices among its investee companies and external fund managers. The EPF said the stewardship undertaking has strengthened its commitment to help build a better retirement future for Malaysians by delivering long-term sustainable value. ‘This aligns with the United Nations-supported Principles for Responsible Investment, which define stewardship as institutional investors using their influence to maximise

KUALA LUMPUR, Xsolla, a global video game commerce company, has launched Xsolla Backend, an innovative solution designed to help developers of all sizes, especially indie and midsize teams, work across various gaming platforms. According to a statement, Xsolla Backend makes their games more accessible by allowing developers to unite their audience across all platforms such as personal computer, console, mobile, and the web. This addresses audience fragmentation common to most games and enables developers to save costs while creating deeper engagement as they grow their gaming business. ‘Our business model and robust platform design align our success with that of

KUALA LUMPUR, Andan Foundation in collaboration with MIT Solve of the Massachusetts Institute of Technology (MIT), has announced this year’s Andan Prize for Innovation in Refugee Inclusion. According to a statement, the award seeks to promote solutions that advance the economic, financial, and political inclusion of refugees within their hosting communities. The US$50,000 Andan Prize for Innovation in Refugee Inclusion is awarded every year to the most promising solutions that address the needs and challenges of refugees. (US$1=RM4.67) It is also aimed at supporting innovative approaches that foster integration, empowerment, and sustainable development for displaced populations. MIT Solve launches open