Kuala Lumpur, Malaysia – Vero AI Sdn. Bhd. ("Vero AI"), a leader in AI solutions, and Asia Pacific University Sdn. Bhd. ("APU"), a premier educational institution in Malaysia, are thrilled to announce their groundbreaking joint venture. This collaboration is set to enhance the startup ecosystem and foster innovation across the ASEAN region.

Under the Memorandum of Understanding signed recently, Vero AI and APU have committed to combining their expertise and resources to cultivate a robust environment for startups. The initiative will focus on integrating real-world industrial projects into APU's Enterprise Startup Ecosystem, enhancing its proprietary technology modules, and deploying smart technologies across educational and industrial platforms.

Vero AI is renowned for its advanced industrial IT resources and ASEAN industry network. APU will contribute by integrating these technologies into their enterprise modules and supporting the creation of a vibrant startup culture on campus.

The joint venture will facilitate the development of smart campus initiatives and startup ecosystem development, leveraging both parties' strengths to fuel innovation and drive success in the digital transformation to enhance digital economy. This partnership not only aims to enhance the educational experience at APU but also to create substantial opportunities for budding entrepreneurs and tech innovators in the ASEAN region.

"We are excited to partner with Asia Pacific University to shape the future of the digital economy in Southeast Asia," said Koh Chen Tien, Cofounder &amp; Chairman of Vero AI. "This collaboration will bring together the best of both worlds – leading AI technology and top-tier educational resources, setting a new standard for innovation and entrepreneurship."

Prof Ho Chin Kuan, Vice Chancellor of APU, added, "This joint venture with Vero AI represents a significant step forward in our commitment to providing cutting-edge educational experiences that are directly tied to industry needs and future technological landscapes."

The partnership marks a pivotal moment for both institutions as they drive forward their shared vision for a thriving digital and entrepreneurial ecosystem in Malaysia and beyond.

The event was witnessed by Ravenna Chen and her team from TusStar Malaysia, further emphasizing the regional significance of this collaboration. TusStar Malaysia, a prominent startup incubator, expressed their enthusiasm for the joint venture and its potential to spur innovation across ASEAN Universities. They underscored the importance of such collaborations in building a robust and interconnected startup ecosystem.

In light of this momentous occasion, Vero AI and APU extend an open invitation to other regional universities to join this burgeoning ASEAN startup ecosystem. By bringing together educational institutions, industry leaders, and startup incubators, the partnership aims to create a dynamic and supportive environment for aspiring entrepreneurs. This collaborative approach will ensure that the ASEAN region remains at the forefront of technological innovation and digital transformation, driving economic growth and prosperity for all.

"We look forward to collaborating with other universities and stakeholders across the region," said Prof Ho Chin Kuan. "Together, we can create an unparalleled ecosystem that nurtures innovation, supports startups, and prepares the next generation of tech leaders."

As Vero AI, APU, and TusStar Malaysia embark on this exciting journey, they are committed to fostering a spirit of collaboration and innovation that will shape the future of the digital economy in Southeast Asia.

Vero AI Sdn. Bhd. and Asia Pacific University (APU) have announced a joint venture to enhance the startup ecosystem and foster innovation in the ASEAN region. This collaboration will integrate real-world industrial projects into APU's Enterprise Startup Ecosystem and deploy smart technologies across educational and industrial platforms. Vero AI, known for its advanced industrial IT resources, will work with APU to create a vibrant startup culture on campus.

The partnership aims to develop smart campus initiatives and support the digital transformation of the economy, providing substantial opportunities for entrepreneurs and tech innovators. The event, witnessed by TusStar Malaysia, emphasized the regional significance of this collaboration. Vero AI and APU also invited other regional universities to join the ASEAN startup ecosystem, aiming to build a robust and interconnected environment for aspiring entrepreneurs and ensure the region's leadership in technological innovation and economic growth.Kuala Lumpur, Malaysia – Vero AI Sdn. Bhd. ("Vero AI"), a leader in AI solutions, and Asia Pacific University Sdn. Bhd. ("APU"), a premier educational institution in Malaysia, are thrilled to announce their groundbreaking joint venture. This collaboration is set to enhance the startup ecosystem and foster innovation across the ASEAN region.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/755b54d8cca8d7fd8a2070f0075505ebc865f407472c9356deba525a37abbcd9/WhatsApp%20Image%202024-05-08%20at%2019.05.04_1365b6e7.jpg" alt="Image" />Under the Memorandum of Understanding signed recently, Vero AI and APU have committed to combining their expertise and resources to cultivate a robust environment for startups. The initiative will focus on integrating real-world industrial projects into APU's Enterprise Startup Ecosystem, enhancing its proprietary technology modules, and deploying smart technologies across educational and industrial platforms.Vero AI is renowned for its advanced industrial IT resources and ASEAN industry network. APU will contribute by integrating these technologies into their enterprise modules and supporting the creation of a vibrant startup culture on campus.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/5e1bddae6b2026f8fea16e19ce7c56fc1570efd597129026c21803e243805e20/WhatsApp%20Image%202024-05-08%20at%2019.05.49_c98a4666.jpg" alt="Image" />The joint venture will facilitate the development of smart campus initiatives and startup ecosystem development, leveraging both parties' strengths to fuel innovation and drive success in the digital transformation to enhance digital economy. This partnership not only aims to enhance the educational experience at APU but also to create substantial opportunities for budding entrepreneurs and tech innovators in the ASEAN region."We are excited to partner with Asia Pacific University to shape the future of the digital economy in Southeast Asia," said Koh Chen Tien, Cofounder &amp; Chairman of Vero AI. "This collaboration will bring together the best of both worlds – leading AI technology and top-tier educational resources, setting a new standard for innovation and entrepreneurship."<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/22b3e77399dfddb2f84e38b6349aa2b723e46e55f4e7c7c7f31badbfb1a556fe/WhatsApp%20Image%202024-05-08%20at%2019.05.34_ec04396d.jpg" alt="Image" />Prof Ho Chin Kuan, Vice Chancellor of APU, added, "This joint venture with Vero AI represents a significant step forward in our commitment to providing cutting-edge educational experiences that are directly tied to industry needs and future technological landscapes."<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/1341c9085c331e816a91365f8e9d358bc802476f58288607f45f84fb5f99779f/WhatsApp%20Image%202024-05-08%20at%2019.06.44_b502083a.jpg" alt="Image" />The partnership marks a pivotal moment for both institutions as they drive forward their shared vision for a thriving digital and entrepreneurial ecosystem in Malaysia and beyond.The event was witnessed by Ravenna Chen and her team from TusStar Malaysia, further emphasizing the regional significance of this collaboration. TusStar Malaysia, a prominent startup incubator, expressed their enthusiasm for the joint venture and its potential to spur innovation across ASEAN Universities. They underscored the importance of such collaborations in building a robust and interconnected startup ecosystem.In light of this momentous occasion, Vero AI and APU extend an open invitation to other regional universities to join this burgeoning ASEAN startup ecosystem. By bringing together educational institutions, industry leaders, and startup incubators, the partnership aims to create a dynamic and supportive environment for aspiring entrepreneurs. This collaborative approach will ensure that the ASEAN region remains at the forefront of technological innovation and digital transformation, driving economic growth and prosperity for all."We look forward to collaborating with other universities and stakeholders across the region," said Prof Ho Chin Kuan. "Together, we can create an unparalleled ecosystem that nurtures innovation, supports startups, and prepares the next generation of tech leaders."As Vero AI, APU, and TusStar Malaysia embark on this exciting journey, they are committed to fostering a spirit of collaboration and innovation that will shape the future of the digital economy in Southeast Asia.

School / University

Securities / FX / Investment Trusts

Local companies

Startups

SMEs

Vero AI Sdn. Bhd. and Asia Pacific University (APU) have announced a joint venture to enhance the startup ecosystem and foster innovation in the ASEAN region. This collaboration will integrate real-world industrial projects into APU's Enterprise Startup Ecosystem and deploy smart technologies across educational and industrial platforms. Vero AI, known for its advanced industrial IT resources, will work with APU to create a vibrant startup culture on campus.

The partnership aims to develop smart campus initiatives and support the digital transformation of the economy, providing substantial opportunities for entrepreneurs and tech innovators. The event, witnessed by TusStar Malaysia, emphasized the regional significance of this collaboration. Vero AI and APU also invited other regional universities to join the ASEAN startup ecosystem, aiming to build a robust and interconnected environment for aspiring entrepreneurs and ensure the region's leadership in technological innovation and economic growth.

Vero AI and Asia Pacific University Launch Pioneering MOU to Boost Startup Ecosystem

JAKARTA, Indonesia, April 9, 2024 - Indonesia has marked significant strides in adopting crypto assets and blockchain technology in the ever-evolving digital era. The country has showcased remarkable growth in the crypto asset industry.

According to data from the Commodity Futures Trading Regulatory Agency (Bappebti), in February 2024, there were 19.18 million crypto asset investors in Indonesia, with an average increase in registered customers of 427.2 thousand customers per month since this data was reported in February 2021. The value of crypto trading transactions in February 2024 amounted to more than US$2,1 billion (up 56.22% from the previous month). The total transaction value for January-February 2024 was more than US$3,4 billion, or an increase of 113.05% compared to the same period in 2023, amounting to US$1,8 billion (yoy), indicating the strong economic potential of the industry.

Asian countries fiercely compete to become hubs for crypto technology development, with Indonesia not lagging in this race. The Indonesian government has proactively created policies supporting the growth of the crypto ecosystem, including regulations facilitating innovation and increasing public awareness of the investment potential in crypto assets.

As a leading #ExchangeIndonesia, <a href="http://tokocrypto.com">Tokocrypto</a> is fully committed to shaping the future of the country's blockchain and digital asset industry. This statement reinforces Tokocrypto's role as a key player in Indonesia's crypto-asset sector, demonstrating its commitment to supporting inclusive and sustainable digital economic growth.

"We at Tokocrypto are proud to be part of this digital transformation and to lead in its initiation. The steps taken by Bappebti, along with full support from the government, provide a solid foundation for the growth of the crypto industry in Indonesia," said the CEO of Tokocrypto, Yudhono Rawis.

Yudho added that the regulation and supervision of crypto assets, previously under Bappebti, will officially transfer to the Financial Services Authority (OJK) in January 2025, building stronger regulations to maintain market integrity and protect consumers. The transition of crypto asset supervision to OJK marks a new chapter in digital financial regulation in Indonesia. With collaboration between regulators and industry players, Indonesia is on the right path to harness the full potential of digital financial assets, including crypto assets, to support national economic growth.

In early 2024, Tokocrypto recorded significant achievements, dominating about 43% of the market based on CoinMarketCap data, with over 4 million users and an average daily transaction exceeding US$30 million. This comprises more than 400 types of tokens and coins traded on the platform, positioning Tokocrypto as a critical indicator in Indonesia's progression within the crypto industry.

The outstanding performance in early 2024 was supported by various positive developments in the crypto world, including optimism towards Bitcoin spot ETFs and anticipation of the Bitcoin halving. Yudhono shared exciting plans for 2024, such as increasing the trading transaction volume to reach US$12 billion (approximately Rp 189 trillion) and doubling its users to 6 million people in 2024.

"The user growth at Tokocrypto reflects a global trend showing increasing interest in crypto investments. Additionally, the increasing adaptation of Indonesian investors indicates that the crypto market continues to grow and become more inclusive for various segments of society," explained Yudho.

Tokocrypto has also significantly contributed to tax revenue from crypto asset transactions in Indonesia during 2024. According to the Directorate General of Taxes of the Ministry of Finance of the Republic of Indonesia, as of February 2024, tax revenue from crypto transactions has reached US$4.5 million. Tokocrypto has contributed approximately US$1.8 million, equivalent to about 40%.

To support innovation, Tokocrypto has made significant changes to Toko Token (TKO), Tokocrypto's original utility crypto token, aimed at advancing blockchain technology adoption in Indonesia. The TKO Foundation, a separate independent entity from Tokocrypto, will manage TKO.

"This will ensure the sustainability of TKO and provide new utilities that would not be possible if TKO were just a simple exchange token," explained Yudho.

The main focus of the TKO Foundation is to develop the TKO token. The TKO Foundation has released a whitepaper introducing a roadmap and a new management team determined to advance this local crypto asset project further. The market capitalisation of TKO tokens has reached US$52 million, making it the most prominent local token.

Since the release of White Paper V4.0 on January 31, 2024, TKO has achieved remarkable success in February 2024, entering the Top Gainers list, according to CryptoRank. TKO's performance has significantly improved, marking a historic milestone and boosting investor confidence.

According to TKO's Monthly Return (USD) data, TKO's performance experienced a significant increase of 68.8% during February 2024. This marks an important milestone in TKO's history, demonstrating the potential of this crypto asset project and its considerable development.

For more details about the V4.0 TKO whitepaper, please refer to the official <a href="https://www.tkotoken.com/">Tkotoken</a> website. Additionally, you can track TKO's price performance on platforms like <a href="https://coinmarketcap.com/currencies/tokocrypto/">CoinMarketCap</a> and <a href="https://cryptorank.io/price/tokocrypto">CryptoRank</a>.

<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/c0d7669238b59df1791acbaf43b19d9c766998dca09bf9288d73ef937112489e/20211118%20tokocrypto%20media%20gathering%20-%2037.jpg" alt="Illustration Tokocrypto mobile app. Source: Tokocrypto." />JAKARTA, Indonesia, April 9, 2024 - Indonesia has marked significant strides in adopting crypto assets and blockchain technology in the ever-evolving digital era. The country has showcased remarkable growth in the crypto asset industry.According to data from the Commodity Futures Trading Regulatory Agency (Bappebti), in February 2024, there were 19.18 million crypto asset investors in Indonesia, with an average increase in registered customers of 427.2 thousand customers per month since this data was reported in February 2021. The value of crypto trading transactions in February 2024 amounted to more than US$2,1 billion (up 56.22% from the previous month). The total transaction value for January-February 2024 was more than US$3,4 billion, or an increase of 113.05% compared to the same period in 2023, amounting to US$1,8 billion (yoy), indicating the strong economic potential of the industry.Asian countries fiercely compete to become hubs for crypto technology development, with Indonesia not lagging in this race. The Indonesian government has proactively created policies supporting the growth of the crypto ecosystem, including regulations facilitating innovation and increasing public awareness of the investment potential in crypto assets.As a leading #ExchangeIndonesia, <a href="http://tokocrypto.com">Tokocrypto</a> is fully committed to shaping the future of the country's blockchain and digital asset industry. This statement reinforces Tokocrypto's role as a key player in Indonesia's crypto-asset sector, demonstrating its commitment to supporting inclusive and sustainable digital economic growth."We at Tokocrypto are proud to be part of this digital transformation and to lead in its initiation. The steps taken by Bappebti, along with full support from the government, provide a solid foundation for the growth of the crypto industry in Indonesia," said the CEO of Tokocrypto, Yudhono Rawis.Yudho added that the regulation and supervision of crypto assets, previously under Bappebti, will officially transfer to the Financial Services Authority (OJK) in January 2025, building stronger regulations to maintain market integrity and protect consumers. The transition of crypto asset supervision to OJK marks a new chapter in digital financial regulation in Indonesia. With collaboration between regulators and industry players, Indonesia is on the right path to harness the full potential of digital financial assets, including crypto assets, to support national economic growth.Sustaining GrowthIn early 2024, Tokocrypto recorded significant achievements, dominating about 43% of the market based on CoinMarketCap data, with over 4 million users and an average daily transaction exceeding US$30 million. This comprises more than 400 types of tokens and coins traded on the platform, positioning Tokocrypto as a critical indicator in Indonesia's progression within the crypto industry.The outstanding performance in early 2024 was supported by various positive developments in the crypto world, including optimism towards Bitcoin spot ETFs and anticipation of the Bitcoin halving. Yudhono shared exciting plans for 2024, such as increasing the trading transaction volume to reach US$12 billion (approximately Rp 189 trillion) and doubling its users to 6 million people in 2024.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/04dd991326dcb5b009bbb6a9093e70c05e9843eabb05635f387c07d0e1902e5c/PGA08828.JPG" alt="CEO of Tokocrypto, Yudhono Rawis. Source: Tokocrypto." />"The user growth at Tokocrypto reflects a global trend showing increasing interest in crypto investments. Additionally, the increasing adaptation of Indonesian investors indicates that the crypto market continues to grow and become more inclusive for various segments of society," explained Yudho.Tokocrypto has also significantly contributed to tax revenue from crypto asset transactions in Indonesia during 2024. According to the Directorate General of Taxes of the Ministry of Finance of the Republic of Indonesia, as of February 2024, tax revenue from crypto transactions has reached US$4.5 million. Tokocrypto has contributed approximately US$1.8 million, equivalent to about 40%.Toko Token (TKO)To support innovation, Tokocrypto has made significant changes to Toko Token (TKO), Tokocrypto's original utility crypto token, aimed at advancing blockchain technology adoption in Indonesia. The TKO Foundation, a separate independent entity from Tokocrypto, will manage TKO."This will ensure the sustainability of TKO and provide new utilities that would not be possible if TKO were just a simple exchange token," explained Yudho.The main focus of the TKO Foundation is to develop the TKO token. The TKO Foundation has released a whitepaper introducing a roadmap and a new management team determined to advance this local crypto asset project further. The market capitalisation of TKO tokens has reached US$52 million, making it the most prominent local token.Since the release of White Paper V4.0 on January 31, 2024, TKO has achieved remarkable success in February 2024, entering the Top Gainers list, according to CryptoRank. TKO's performance has significantly improved, marking a historic milestone and boosting investor confidence.According to TKO's Monthly Return (USD) data, TKO's performance experienced a significant increase of 68.8% during February 2024. This marks an important milestone in TKO's history, demonstrating the potential of this crypto asset project and its considerable development.For more details about the V4.0 TKO whitepaper, please refer to the official <a href="https://www.tkotoken.com/">Tkotoken</a> website. Additionally, you can track TKO's price performance on platforms like <a href="https://coinmarketcap.com/currencies/tokocrypto/">CoinMarketCap</a> and <a href="https://cryptorank.io/price/tokocrypto">CryptoRank</a>.

Application

Blockchain / Web3

Cryptocurrency

Tokocrypto Sees Explosive Growth in Users and Trading Volume in Early 2024

RHB Islamic International Asset Management Berhad (“RHBIIAM”), the Islamic fund management arm of RHB Banking Group (“RHB” or the “Group”), has launched Malaysia’s first Shariah-compliant sustainable technology fund, the RHB i-Sustainable Future Technology Fund (“the Fund”).

The RHB i-Sustainable Future Technology Fund provides investors access to Shariah-compliant technology companies with sustainable and responsible focus that play an important role in the global economy. The Fund emphasises on investments that contribute to positive environmental and social change and enable investors to capitalise on the rapidly expanding markets for innovative solutions that address current global trends, such as climate change, resource constraints, population growth, poverty and inequality and ageing population within the Shariah-compliant framework.

In light of the growing demand for sustainable investing, RHBIIAM has collaborate with Janus Henderson Investors (“Janus Henderson”) as the Investment Adviser to provide investors access to Shariah-compliant technology companies that champions and adopts sustainable practices through the RHB i-Sustainable Future Technology Fund.

“The RHB i-Sustainable Future Technology Fund reinforces our commitment to drive positive change in the investment landscape. By tapping into Janus Henderson Investors’ deep industry expertise and global network, we can further expand our Sustainable &amp; Responsible Investments (“SRI”) product offerings to create an impact in investment for future generations. This latest addition to our suite of successful SRI fund offerings aims to achieve RM100 million Asset Under management (“AUM”) within twelve months from its launch," said Mohd Farid bin Kamarudin, Chief Executive Officer of RHB Islamic International Asset Management Berhad.

“RHBIIAM, in consultation with Janus Henderson Investors, will utilise the bottom-up investment approach with a thematic sustainable technology overlay to identify persistent, under-appreciated growth opportunities and profitable companies that provide solutions to the global challenges. This approach serves to provide investors with positive environmental and social benefits, in addition to being Shariah-compliant, from the development of a sustainable global economy while providing potentially attractive long-term returns,” explained Mohd Farid.

Andrew Hendry, Chief Executive Officer, Singapore and Head of Distribution Asia of Janus Henderson Investors, said, “We are delighted to partner with RHB Islamic International Asset Management to extend our sustainable investment capabilities and thematic offering to investors in Malaysia. We believe technology is the science of solving problems, and responsible innovation and disruption can be a force for good. This strategy helps investors to capture innovative investment opportunities resulting from the fast-growing development of sustainable technologies.”

“Our sustainable and technology offerings go back almost three decades and has a combined assets under management (“AUM”) of USD4.5 billion as at 31 March 2023. Through this development, investors in Malaysia can leverage the deep knowledge and extensive experience of our investment professionals in order to meet their goals,” added Hendry.

The RHB Asset Management Sdn. Bhd. (“RHBAM”), together with RHB Islamic International Asset Management Berhad, established the RHB Sustainability Framework in 2019, which outlines and embeds sustainable practices into its business and operations in line with the RHB Banking Group’s aspiration under the Sustainability Strategy and Roadmap of mobilising RM20billion in Sustainable Financial Services by 2026.

RHBAM and RHBIIAM have seven ESG and SRI-qualified funds, namely, RHB i-Global Sustainable Disruptors Fund, a Shariah-compliant fund; RHB Global Impact Fund; RHB Sustainable Global Thematic Fund; RHB Asia Sustainable Leaders Fund; RHB Climate Change Solutions Fund; RHB SRI Income Plus Fund 2; and RHB ESG Multi-Asset Fund, with a combined AUM over RM1.2 billion as at April 2023. The range of ESG and SRI funds provides avenues for investors to deploy their capital in various strategies in the sustainable investing approach, covering both conventional and Islamic space, generating positive impact across the domestic and global investment landscape.

For more information on the RHB i-Sustainable Future Technology Fund and other funds, please visit&nbsp;<a href="http://www.rhbgroup.com/myinvest">www.rhbgroup.com/myinvest</a>

<h1>RHB Islamic International Asset Management and Janus Henderson launch Malaysia’s first shariah-compliant sustainable technology fund</h1>RHB Islamic International Asset Management Berhad (“RHBIIAM”), the Islamic fund management arm of RHB Banking Group (“RHB” or the “Group”), has launched Malaysia’s first Shariah-compliant sustainable technology fund, the RHB i-Sustainable Future Technology Fund (“the Fund”).The RHB i-Sustainable Future Technology Fund provides investors access to Shariah-compliant technology companies with sustainable and responsible focus that play an important role in the global economy. The Fund emphasises on investments that contribute to positive environmental and social change and enable investors to capitalise on the rapidly expanding markets for innovative solutions that address current global trends, such as climate change, resource constraints, population growth, poverty and inequality and ageing population within the Shariah-compliant framework.In light of the growing demand for sustainable investing, RHBIIAM has collaborate with Janus Henderson Investors (“Janus Henderson”) as the Investment Adviser to provide investors access to Shariah-compliant technology companies that champions and adopts sustainable practices through the RHB i-Sustainable Future Technology Fund.“The RHB i-Sustainable Future Technology Fund reinforces our commitment to drive positive change in the investment landscape. By tapping into Janus Henderson Investors’ deep industry expertise and global network, we can further expand our Sustainable &amp; Responsible Investments (“SRI”) product offerings to create an impact in investment for future generations. This latest addition to our suite of successful SRI fund offerings aims to achieve RM100 million Asset Under management (“AUM”) within twelve months from its launch," said Mohd Farid bin Kamarudin, Chief Executive Officer of RHB Islamic International Asset Management Berhad.“RHBIIAM, in consultation with Janus Henderson Investors, will utilise the bottom-up investment approach with a thematic sustainable technology overlay to identify persistent, under-appreciated growth opportunities and profitable companies that provide solutions to the global challenges. This approach serves to provide investors with positive environmental and social benefits, in addition to being Shariah-compliant, from the development of a sustainable global economy while providing potentially attractive long-term returns,” explained Mohd Farid.Andrew Hendry, Chief Executive Officer, Singapore and Head of Distribution Asia of Janus Henderson Investors, said, “We are delighted to partner with RHB Islamic International Asset Management to extend our sustainable investment capabilities and thematic offering to investors in Malaysia. We believe technology is the science of solving problems, and responsible innovation and disruption can be a force for good. This strategy helps investors to capture innovative investment opportunities resulting from the fast-growing development of sustainable technologies.”“Our sustainable and technology offerings go back almost three decades and has a combined assets under management (“AUM”) of USD4.5 billion as at 31 March 2023. Through this development, investors in Malaysia can leverage the deep knowledge and extensive experience of our investment professionals in order to meet their goals,” added Hendry.The RHB Asset Management Sdn. Bhd. (“RHBAM”), together with RHB Islamic International Asset Management Berhad, established the RHB Sustainability Framework in 2019, which outlines and embeds sustainable practices into its business and operations in line with the RHB Banking Group’s aspiration under the Sustainability Strategy and Roadmap of mobilising RM20billion in Sustainable Financial Services by 2026.RHBAM and RHBIIAM have seven ESG and SRI-qualified funds, namely, RHB i-Global Sustainable Disruptors Fund, a Shariah-compliant fund; RHB Global Impact Fund; RHB Sustainable Global Thematic Fund; RHB Asia Sustainable Leaders Fund; RHB Climate Change Solutions Fund; RHB SRI Income Plus Fund 2; and RHB ESG Multi-Asset Fund, with a combined AUM over RM1.2 billion as at April 2023. The range of ESG and SRI funds provides avenues for investors to deploy their capital in various strategies in the sustainable investing approach, covering both conventional and Islamic space, generating positive impact across the domestic and global investment landscape.For more information on the RHB i-Sustainable Future Technology Fund and other funds, please visit&nbsp;<a href="http://www.rhbgroup.com/myinvest">www.rhbgroup.com/myinvest</a>RHB Asset Management Sdn Bhd (“RHBAM”) is a wholly-owned subsidiary of RHB Investment Bank Berhad. RHB Group Asset Management enjoys a significant presence in the ASEAN and Greater China region, with offices in Malaysia, Hong Kong, Indonesia, and Singapore where we offer customers close to 30 years’ worth of expertise and knowledge in asset management. In Malaysia, RHB Group Asset Management remains as one of the top 3 fund management companies in terms of total Assets Under Management (“AUM”), offering conventional and Islamic products.For any questions, suggestions or feedback, please call us during business hours or e-mail us anytime at: 

Toll-Free Hotline number: 1-800-88-3175
Call: 603-9205 8000 
E-mail: rhbam@rhbgroup.com
E-mail: rhbiiam.enquiry@rhbgroup.com 

Thank you for your support.

STEM (Science, Tech, Engineering, Math)

RHB Islamic International Asset Management and Janus Henderson launch Malaysia’s first shariah-compliant sustainable technology fund

The offering of the fund underscores the Company’s commitment to providing innovative investment solutions that capitalise on opportunities in ASEAN’s growing markets.

Ms. Lim Suet Ling, Chief Executive Officer of UOBAM (Malaysia) said, "We are proud to introduce UVEF, which represents a significant milestone for UOB Asset Management (UOBAM). Through this fund, we offer our regional expertise to connect Malaysians to one of ASEAN’s leading market investment landscape. Vietnam's robust economic growth and vibrant business environment present a compelling opportunity for investors seeking to tap into the region's growth.”

UVEF is suitable for retail investors with long-term investment horizons and are comfortable with volatility and risks of an equity fund. UOBAM's strong presence in the ASEAN region, combined with its in-country investment expertise has enabled the company to capture the potential within Vietnam's equity market. Investors will also benefit from the local expertise of a dedicated and experienced UOBAM Vietnam team located at its Ho Chi Minh City office.

The team has managed several offshore funds and mandates investing in Vietnam market for foreign institutional investors over the last decade. This resulted in the Company having built and maintained a solid database of more than 120 Vietnamese listed companies, representing more than 90 per cent of the country’s total market capitalisation.

UVEF seeks to achieve its objectives by investing a minimum of 90 per cent of the Fund's net asset value (NAV) in United Vietnam Equity Fund (Target Fund). The remaining 10 per cent is invested in liquid assets, which includes money-market instruments and deposits.

The Target Fund invests primarily in equity and equity-related securities of corporations and other entities listed, located, incorporated, or have significant business operations or assets in Vietnam. All investment decisions are made at the Target Fund level by its manager, UOBAM.

UVEF's is available for subscription now at selected distributors in both domestic and foreign currencies with an initial minimum investment of RM1,000 and US$1,000.

For more information on UVEF, please visit&nbsp;<a href="https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG">https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG</a>

<h1>UOBAM (Malaysia) launches United Vietnam Equities Fund (UVEF)</h1>UOB Asset Management (Malaysia) (UOBAM (Malaysia)) has recently launched the United Vietnam Equities Fund (UVEF). UVEF offers local retail investors the exposure to the equity market in Vietnam, one of ASEAN's leading manufacturing hub.The offering of the fund underscores the Company’s commitment to providing innovative investment solutions that capitalise on opportunities in ASEAN’s growing markets.Ms. Lim Suet Ling, Chief Executive Officer of UOBAM (Malaysia) said, "We are proud to introduce UVEF, which represents a significant milestone for UOB Asset Management (UOBAM). Through this fund, we offer our regional expertise to connect Malaysians to one of ASEAN’s leading market investment landscape. Vietnam's robust economic growth and vibrant business environment present a compelling opportunity for investors seeking to tap into the region's growth.”UVEF is suitable for retail investors with long-term investment horizons and are comfortable with volatility and risks of an equity fund. UOBAM's strong presence in the ASEAN region, combined with its in-country investment expertise has enabled the company to capture the potential within Vietnam's equity market. Investors will also benefit from the local expertise of a dedicated and experienced UOBAM Vietnam team located at its Ho Chi Minh City office.The team has managed several offshore funds and mandates investing in Vietnam market for foreign institutional investors over the last decade. This resulted in the Company having built and maintained a solid database of more than 120 Vietnamese listed companies, representing more than 90 per cent of the country’s total market capitalisation.UVEF seeks to achieve its objectives by investing a minimum of 90 per cent of the Fund's net asset value (NAV) in United Vietnam Equity Fund (Target Fund). The remaining 10 per cent is invested in liquid assets, which includes money-market instruments and deposits.The Target Fund invests primarily in equity and equity-related securities of corporations and other entities listed, located, incorporated, or have significant business operations or assets in Vietnam. All investment decisions are made at the Target Fund level by its manager, UOBAM.UVEF's is available for subscription now at selected distributors in both domestic and foreign currencies with an initial minimum investment of RM1,000 and US$1,000.For more information on UVEF, please visit&nbsp;<a href="https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG">https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG</a>UOB Asset Management (Malaysia) Berhad (“UOBAM(M)”) is built on a strong foundation of investment capabilities, grounded in rigorous and extensive research. UOBAM(M) has held the Capital Markets and Services Licence for fund management in Malaysia under the Capital Market and Services Act since January 1997. In January 2014, UOBAM (M) obtained approval from the Securities Commission of Malaysia to deal in securities restricted to unit trust products. UOBAM(M) has more than 20 years of experience in providing fund management and fund advisory services for both institutional and retail clients. UOBAM(M) operates 29 funds and manages more than RM8.0 billion worth of assets in Malaysia.

As a subsidiary of the UOB Asset Management Ltd headquartered in Singapore which has a strong regional presence in markets that include Thailand, Brunei, Taiwan, Japan, China, India, Vietnam and Indonesia via local offices, joint ventures and alliances, we enjoy a strong regional integration which grants us in-depth knowledge and first hand insights in an ever-changing environment.

Our clients encompass high net worth individuals, private corporations, unit trusts companies, insurance companies and state boards.
 
Overall, the UOB Asset Management group manages more than S$32.0 billion* worth of assets across the region and has been recipient of numerous awards – 308 fund awards, which is testament to the Group’s investment success. UOB Asset Management (Malaysia) Berhad (Company no. 199101009166 (219478-X)) 
Level 20, UOB Plaza 1,
7 Jalan Raja Laut,
50350 Kuala Lumpur

General Line: 603 - 27790011 
Whatsapp: 6018 - 6686226

Banks / Credit unions

UOB Asset Management (Malaysia) (UOBAM (Malaysia)) has recently launched the United Vietnam Equities Fund (UVEF). UVEF offers local retail investors the exposure to the equity market in Vietnam, one of ASEAN's leading manufacturing hub.

UOBAM (Malaysia) launches United Vietnam Equities Fund (UVEF)

KUALA LUMPUR: MST Golf Group Bhd has signed an underwriting agreement with RHB Investment Bank Bhd for its proposed initial public offering (IPO) and listing on Bursa Malaysia’s Main Market in the third quarter of 2023 with the prospectus to be launched by end-June.

In a statement today, Malaysia’s largest golf retail chain said that the IPO entails an offering of 228 million ordinary shares, comprising a public issue of 160 million new shares and an offer for sale of up to 68 million existing shares.

There is an institutional offering of up to 178.6 million shares for identified institutional and selected investors, including Bumiputera investors approved by the Investment, Trade and Industry Ministry, the statement said.

There will also be a retail offering of 49.4 million issue shares for the Malaysian public, independent non-executive directors, and eligible employees who have contributed to the group’s success.

MST Golf executive director and group chief executive officer Ng Yap said that the IPO will help to accelerate the retail penetration in other golf markets in Southeast Asia, starting with Indonesia, Thailand and Vietnam.

It owns and operates 42 retail outlets comprising 35 in Malaysia and seven in Singapore.

RHB Investment Bank will underwrite the 41.5 million shares made available for the Malaysian public under the retail offering tranche. The investment bank is the principal adviser, sole underwriter, and sole placement agent for the IPO exercise. - Bernama

<h1>MST Golf Group inks underwriting agreement with RHB Investment Bank for IPO</h1>From left: MST Golf Group executive director & group chief executive officer Ng Yap, MST Golf Group executive chairman Low Kok Poh, RHB Investment Bank Bhd chief executive officer/managing director Ganesh Sabaratnam and RHB Investment Bank head of equity capital markets (Malaysia) Ankur Khandelwal.KUALA LUMPUR: MST Golf Group Bhd has signed an underwriting agreement with RHB Investment Bank Bhd for its proposed initial public offering (IPO) and listing on Bursa Malaysia’s Main Market in the third quarter of 2023 with the prospectus to be launched by end-June.In a statement today, Malaysia’s largest golf retail chain said that the IPO entails an offering of 228 million ordinary shares, comprising a public issue of 160 million new shares and an offer for sale of up to 68 million existing shares.There is an institutional offering of up to 178.6 million shares for identified institutional and selected investors, including Bumiputera investors approved by the Investment, Trade and Industry Ministry, the statement said.There will also be a retail offering of 49.4 million issue shares for the Malaysian public, independent non-executive directors, and eligible employees who have contributed to the group’s success.MST Golf executive director and group chief executive officer Ng Yap said that the IPO will help to accelerate the retail penetration in other golf markets in Southeast Asia, starting with Indonesia, Thailand and Vietnam.It owns and operates 42 retail outlets comprising 35 in Malaysia and seven in Singapore.RHB Investment Bank will underwrite the 41.5 million shares made available for the Malaysian public under the retail offering tranche. The investment bank is the principal adviser, sole underwriter, and sole placement agent for the IPO exercise. - BernamaWith over 30 years of experience in the golf retail industry, MST Golf has worked to establish itself as the leading golf retail and service provider in the region, upholding our vision to serve you the best in everything golf.+603 5566 8666
cs@mstgolf.com

From left: MST Golf Group executive director & group chief executive officer Ng Yap, MST Golf Group executive chairman Low Kok Poh, RHB Investment Bank Bhd chief executive officer/managing director Ganesh Sabaratnam and RHB Investment Bank head of equity capital markets (Malaysia) Ankur Khandelwal.

MST Golf Group inks underwriting agreement with RHB Investment Bank for IPO

PETALING JAYA: Bank Muamalat Malaysia Bhd registered a profit before zakat and tax (PBZT) of RM306.7 million for the financial year ended Dec 31, 2022 (FY2022).

The amount represents a growth of 20.3% from the RM254.9 million posted in the previous corresponding period, the bank said in a statement today.

President and CEO Khairul Kamarudin said the stellar performance was largely driven by increased distributable income and robust financing growth in tandem with the group’s business growth and improved asset quality.

“The group also registered growth in total assets which expanded by 14.4% to RM31.5 billion, compared to RM27.6 billion in the previous financial year.

“This was largely contributed by the 16.2% growth or RM3.3 billion increase in total financing to customers, from RM20.7 billion to RM24 billion, mainly from the consumer banking segment,” he said.

Khairul, however, conceded that the group asset quality remained low, with gross impaired financing standing at 0.85% as at Dec 31, 2022, a marginal increase as compared to 0.83% registered as at Dec 31, 2021.

He also said that the group’s common equity tier-1 ratio and total capital ratio remained stable, closing at 12.5% and 17.6%, respectively, which were well above regulatory requirements.

Going forward, the bank said it remains cognizant of the evolving economic outlook this year and is ready to navigate challenges to record another important milestone in the new financial year 2023.

Bank Muamalat is 70%-owned by DRB-Hicom Bhd, a conglomerate with involvement in the automotive, property and services sectors.

The remaining shares are held by national sovereign wealth fund Khazanah Nasional Bhd.

<h1>Bank Muamalat records 20% higher profit in FY2022</h1>Its profit before zakat and tax grew to RM306.7 million from RM254.9 million in the previous year.PETALING JAYA: Bank Muamalat Malaysia Bhd registered a profit before zakat and tax (PBZT) of RM306.7 million for the financial year ended Dec 31, 2022 (FY2022).The amount represents a growth of 20.3% from the RM254.9 million posted in the previous corresponding period, the bank said in a statement today.President and CEO Khairul Kamarudin said the stellar performance was largely driven by increased distributable income and robust financing growth in tandem with the group’s business growth and improved asset quality.“The group also registered growth in total assets which expanded by 14.4% to RM31.5 billion, compared to RM27.6 billion in the previous financial year.“This was largely contributed by the 16.2% growth or RM3.3 billion increase in total financing to customers, from RM20.7 billion to RM24 billion, mainly from the consumer banking segment,” he said.Khairul, however, conceded that the group asset quality remained low, with gross impaired financing standing at 0.85% as at Dec 31, 2022, a marginal increase as compared to 0.83% registered as at Dec 31, 2021.He also said that the group’s common equity tier-1 ratio and total capital ratio remained stable, closing at 12.5% and 17.6%, respectively, which were well above regulatory requirements.Going forward, the bank said it remains cognizant of the evolving economic outlook this year and is ready to navigate challenges to record another important milestone in the new financial year 2023.Bank Muamalat is 70%-owned by DRB-Hicom Bhd, a conglomerate with involvement in the automotive, property and services sectors.The remaining shares are held by national sovereign wealth fund Khazanah Nasional Bhd.Bank Muamalat is a leading Islamic bank, established on 1 October 1999, and is governed by Islamic Financial Services Act 2013 (IFSA). As a full-fledged Islamic financial institution, the bank offers its customers a broad range of services, meeting the needs of both individuals and institutions.+603-2600 5500
feedback@muamalat.com.my

Financial results announcement

Its profit before zakat and tax grew to RM306.7 million from RM254.9 million in the previous year.

Bank Muamalat records 20% higher profit in FY2022

KUALA LUMPUR, Malaysia,&nbsp;May 16, 2023 - FBS, an international broker with a presence in over 150 countries, was rated as one of the top world's best brokerage companies, according to FXonline.ai, an AI-driven platform that displays listings of Forex brokers.

<a href="https://mma.prnasia.com/media2/2077887/FBS_AI.jpg?p=publish" target="_blank" rel="nofollow"></a>FBS was rated as one of the top world’s best brokerage companies by AI

FBS scored 7.2 out of 10, rising high in an FXonline.ai listing. The innovative platform marks FBS's customer-centric approach and highlights the company's excellent Usability, Customer Care, and swift Registration process.

The artificial intelligence technologies used by FXonline.ai allow for impartial analysis of the trading industry, resulting in fair and unbiased reviews. The company is bent on creating a new era of Forex with fairness and freedom as core values. The idea is to help traders make fact-based decisions using relatable information on a broker collected in an in-depth AI analysis of the broker's website.

The AI-driven platform analyzed each stage of the user flow of FBS and other shortlisted brokers, and rated them on 5 key criteria, including trading conditions, promotions, ease of use, deposits and withdrawals, and customer support. The approach results in reliable, straightforward ratings that are not influenced by human emotion.

"Designed with the trader's benefit in mind, our AI-driven platform provides users with an impartial outlook on the FX industry and helps them find the most suitable platform in a matter of seconds. We are happy to have on board the most renown brokers in the industry, who are ready to get an unbiased review of their work. Forex is a tough market, and we&nbsp;appreciate&nbsp;the fact that FBS was rated high by our in-house designed AI technology and placed among the top competitors, making it a good choice for traders around the world,"&nbsp;says&nbsp;FXonline.ai on FBS.

"We are pleased and proud to have our services rated so highly. It is especially rewarding to see proof of our professionalism manifested in&nbsp;an&nbsp;AI-driven analysis, that features unbiased research algorithms free from human interference. We will stick to our principles and values to keep providing our customers with the best trading services possible,"&nbsp;says&nbsp;Ksenia Molodkina, Strategic Marketing Director FBS.

Over 14 years of dedicated work, FBS has won more than 75 international awards that are now enhanced by the&nbsp;<a href="https://fxonline.ai/?utm_source=fbs&amp;utm_medium=pressrelease&amp;utm_campaign=fbs_top" target="_blank" rel="nofollow">FXonline.ai</a>&nbsp;listing. To this day, FBS maintains a high level of service and customer support – more than 27 million traders and 500,000 partners work with FBS, and the numbers are growing.

<h1>AI Places FBS Among the World's Top Brokers</h1>KUALA LUMPUR, Malaysia,&nbsp;May 16, 2023 - FBS, an international broker with a presence in over 150 countries, was rated as one of the top world's best brokerage companies, according to FXonline.ai, an AI-driven platform that displays listings of Forex brokers.<a href="https://mma.prnasia.com/media2/2077887/FBS_AI.jpg?p=publish" target="_blank" rel="nofollow"></a>FBS was rated as one of the top world’s best brokerage companies by AIFBS scored 7.2 out of 10, rising high in an FXonline.ai listing. The innovative platform marks FBS's customer-centric approach and highlights the company's excellent Usability, Customer Care, and swift Registration process.The artificial intelligence technologies used by FXonline.ai allow for impartial analysis of the trading industry, resulting in fair and unbiased reviews. The company is bent on creating a new era of Forex with fairness and freedom as core values. The idea is to help traders make fact-based decisions using relatable information on a broker collected in an in-depth AI analysis of the broker's website.The AI-driven platform analyzed each stage of the user flow of FBS and other shortlisted brokers, and rated them on 5 key criteria, including trading conditions, promotions, ease of use, deposits and withdrawals, and customer support. The approach results in reliable, straightforward ratings that are not influenced by human emotion."Designed with the trader's benefit in mind, our AI-driven platform provides users with an impartial outlook on the FX industry and helps them find the most suitable platform in a matter of seconds. We are happy to have on board the most renown brokers in the industry, who are ready to get an unbiased review of their work. Forex is a tough market, and we&nbsp;appreciate&nbsp;the fact that FBS was rated high by our in-house designed AI technology and placed among the top competitors, making it a good choice for traders around the world,"&nbsp;says&nbsp;FXonline.ai on FBS."We are pleased and proud to have our services rated so highly. It is especially rewarding to see proof of our professionalism manifested in&nbsp;an&nbsp;AI-driven analysis, that features unbiased research algorithms free from human interference. We will stick to our principles and values to keep providing our customers with the best trading services possible,"&nbsp;says&nbsp;Ksenia Molodkina, Strategic Marketing Director FBS.Over 14 years of dedicated work, FBS has won more than 75 international awards that are now enhanced by the&nbsp;<a href="https://fxonline.ai/?utm_source=fbs&amp;utm_medium=pressrelease&amp;utm_campaign=fbs_top" target="_blank" rel="nofollow">FXonline.ai</a>&nbsp;listing. To this day, FBS maintains a high level of service and customer support – more than 27 million traders and 500,000 partners work with FBS, and the numbers are growing.About FBS
FBS is a licensed worldwide broker with over 14 years of experience and more than 75 international awards. FBS is steadily developing as one of the market's most trusted brokers with its traders numbering more than 27,000,000 and its partners exceeding 500,000 throughout the globe. Its annual trading volume is over $8.9 trillion. FBS is also the Official Principal Partner of Leicester City Football Club.

AI Places FBS Among the World's Top Brokers

KUALA LUMPUR (May 9): Yee Lee Corp Bhd and Thailand's TCP Group have strengthened their collaboration to boost market share in the energy drinks sector to 60% in five years via a Red Bull brand reinforcement.&nbsp;

TCP chief executive officer Saravoot Yoovidhya said Red Bull has a 51.3% market share moving annual target (MAT) within the energy drink category in Malaysia as of March 2023 based on NielsenIQ (NIQ) Retail Index report.

According to current market data and category forecast, the revenue in energy drinks segment in Malaysia is expected to reach RM500 million by 2027, he told reporters at the partnership announcement ceremony here today (May 9).&nbsp;

The market is expected to have a compounded annual growth rate (CAGR) of 7% between 2023 and 2027, he said.

"There are ample opportunities to grow in Malaysia looking at the relatively low consumption of energy drinks per capita.&nbsp;

"We are also confident about Yee Lee's ability to grow the Red Bull brand in Malaysia," he said.

TCP will set up a dedicated office here with marketing experts to analyse and understand domestic consumer trends in order to strategise to boost sales, he said.

He also reckoned there would be possibilities to bring in other beverage brands.&nbsp;

On inflation affecting sales, Yee Lee Corp Bhd group managing director Lim Ee Young said the price of Red Bull has not risen since before the Covid-19 pandemic.&nbsp;

"We are trying as much as we could to keep the price accessible to the consumer because everybody is in the same situation," Lim said.&nbsp;

He said efficiency has enabled Yee Lee to pass cost savings to customers.

"We want our market to understand that Red Bull is here to stay and grow in tandem with the positive outlook of the energy drinks space,” he said, adding that the group has been distributing Red Bull products in Malaysia since 2015.&nbsp;

<h1>Yee Lee, TCP aim to have 60% share of energy drinks market</h1>KUALA LUMPUR (May 9): Yee Lee Corp Bhd and Thailand's TCP Group have strengthened their collaboration to boost market share in the energy drinks sector to 60% in five years via a Red Bull brand reinforcement.&nbsp;TCP chief executive officer Saravoot Yoovidhya said Red Bull has a 51.3% market share moving annual target (MAT) within the energy drink category in Malaysia as of March 2023 based on NielsenIQ (NIQ) Retail Index report.According to current market data and category forecast, the revenue in energy drinks segment in Malaysia is expected to reach RM500 million by 2027, he told reporters at the partnership announcement ceremony here today (May 9).&nbsp;The market is expected to have a compounded annual growth rate (CAGR) of 7% between 2023 and 2027, he said."There are ample opportunities to grow in Malaysia looking at the relatively low consumption of energy drinks per capita.&nbsp;"We are also confident about Yee Lee's ability to grow the Red Bull brand in Malaysia," he said.TCP will set up a dedicated office here with marketing experts to analyse and understand domestic consumer trends in order to strategise to boost sales, he said.He also reckoned there would be possibilities to bring in other beverage brands.&nbsp;On inflation affecting sales, Yee Lee Corp Bhd group managing director Lim Ee Young said the price of Red Bull has not risen since before the Covid-19 pandemic.&nbsp;"We are trying as much as we could to keep the price accessible to the consumer because everybody is in the same situation," Lim said.&nbsp;He said efficiency has enabled Yee Lee to pass cost savings to customers."We want our market to understand that Red Bull is here to stay and grow in tandem with the positive outlook of the energy drinks space,” he said, adding that the group has been distributing Red Bull products in Malaysia since 2015.&nbsp;

Soft Drinks / Alcoholic drinks

Yee Lee, TCP aim to have 60% share of energy drinks market

KUALA LUMPUR (April 28): Bursa Malaysia retreated from its earlier gains to end the morning trading session marginally lower, with selling mostly seen among the heavyweights, led by the financial services and plantation counters.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 1.06 points to 1,416.99 from Thursday’s close of 1,418.05.

The barometer index opened 0.19 of-a-point better at 1,418.24, and moved between 1,414.71 and 1,420.50 throughout the session.

The market breadth was negative with decliners leading gainers 378 to 329, while 379 counters were unchanged, 1,193 untraded and 50 others suspended.

Turnover stood at 1.63 billion units worth RM702.69 million.

Malacca Securities Sdn Bhd said there could be a broad-based rebound with the return of buying interest in technology stocks following Wall Street’s rally overnight.

“Also, with investors brushing off recessionary fears, at least for the near term after mild growth was observed in the US gross domestic product, investors may take on some exposure within the banking sector,” the brokerage said in a note on Friday.

Among the heavyweight stocks, Malayan Banking Bhd erased four sen to RM8.66 and CelcomDigi Bhd was one sen lower at RM4.39.

Public Bank Bhd gained one sen to RM3.90, CIMB Group Holdings Bhd increased one sen to RM5.08, and Petronas Chemicals Group Bhd rose eight sen to RM7.12.

As for the actives, Jade Marvel Group Bhd was flat at 28 sen, Vinvest Capital Holdings Bhd gained one sen to 21 sen while Bintai Kinden Corp Bhd inched down half-a-sen to three sen.

On the index board, the FBM Emas Index erased 14.51 points to 10,397.31, the FBMT 100 Index deducted 14.43 points to 10,080.30 and the FBM Emas Shariah Index lost 15.88 points to 10,733.10.

The FBM ACE Index was 32.67 points weaker at 5,319.73 while the FBM 70 index dropped 47.70 points to 13,492.53.

Sector-wise, the Industrial Products and Services Index inched up 0.68 of a point to 171.54, the Energy Index went up 1.21 points to 848.55 and the Financial Services Index fell 19.07 points to 15,540.96.

The Plantation Index was 59.91 points weaker at 6,799.76.

<h1>Bursa ends morning session marginally lower</h1>KUALA LUMPUR (April 28): Bursa Malaysia retreated from its earlier gains to end the morning trading session marginally lower, with selling mostly seen among the heavyweights, led by the financial services and plantation counters.At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 1.06 points to 1,416.99 from Thursday’s close of 1,418.05.The barometer index opened 0.19 of-a-point better at 1,418.24, and moved between 1,414.71 and 1,420.50 throughout the session.The market breadth was negative with decliners leading gainers 378 to 329, while 379 counters were unchanged, 1,193 untraded and 50 others suspended.Turnover stood at 1.63 billion units worth RM702.69 million.Malacca Securities Sdn Bhd said there could be a broad-based rebound with the return of buying interest in technology stocks following Wall Street’s rally overnight.“Also, with investors brushing off recessionary fears, at least for the near term after mild growth was observed in the US gross domestic product, investors may take on some exposure within the banking sector,” the brokerage said in a note on Friday.Among the heavyweight stocks, Malayan Banking Bhd erased four sen to RM8.66 and CelcomDigi Bhd was one sen lower at RM4.39.Public Bank Bhd gained one sen to RM3.90, CIMB Group Holdings Bhd increased one sen to RM5.08, and Petronas Chemicals Group Bhd rose eight sen to RM7.12.As for the actives, Jade Marvel Group Bhd was flat at 28 sen, Vinvest Capital Holdings Bhd gained one sen to 21 sen while Bintai Kinden Corp Bhd inched down half-a-sen to three sen.On the index board, the FBM Emas Index erased 14.51 points to 10,397.31, the FBMT 100 Index deducted 14.43 points to 10,080.30 and the FBM Emas Shariah Index lost 15.88 points to 10,733.10.The FBM ACE Index was 32.67 points weaker at 5,319.73 while the FBM 70 index dropped 47.70 points to 13,492.53.Sector-wise, the Industrial Products and Services Index inched up 0.68 of a point to 171.54, the Energy Index went up 1.21 points to 848.55 and the Financial Services Index fell 19.07 points to 15,540.96.The Plantation Index was 59.91 points weaker at 6,799.76.

Bursa ends morning session marginally lower

KUALA LUMPUR: Khazanah Nasional Bhd’s wholly-owned special purpose vehicle, Granatum Ventures Sdn Bhd, has entered into a definitive share sale agreement to divest its 100 per cent stake in Iskandar Malaysia Studios Sdn Bhd (IMS) to Studio Management Services Sdn Bhd (SMS) to attract foreign investment as well as bringing economic and social benefits into Malaysia.

In a statement today, it said SMS is a consortium led by IMS’s current Malaysian management team in partnership with Singapore’s GHY Culture &amp; Media Holding Co Ltd and its subsidiary, GHY Culture &amp; Media (Malaysia) Sdn Bhd.

Khazanah said that the sale would be for a 100 per cent stake in the operating company, IMS, which is leasing the land where the studio premises are located from Tanjung Bidara Ventures Sdn Bhd, a wholly-owned special purpose vehicle of Khazanah.

It also said that SMS is expected to further enhance the services provided by Iskandar Malaysia Studios to the industry, as well as facilitate future partnerships and production opportunities for Malaysia.

"The collaboration and crowd-in of Malaysian entrepreneurs and capable regional partners would catalyse further growth and development of the ecosystem in IMS,” it said.

Khazanah said the partnership would contribute to higher utilisation of the studio by regional and global players, which could be supported by the local production ecosystem along with the better capacity to attract large productions and the sharing of a large content production pipeline.

"Khazanah remains committed to retaining the positive economic spillover benefits on the social economy while aligning its strategic imperatives of advancing Malaysia, ensuring value creation, capacity building and societal impact for the country,” it added. - Bernama

<h1>Khazanah divesting entire stake in IMS, sales brings economic benefits to Malaysia</h1>KUALA LUMPUR: Khazanah Nasional Bhd’s wholly-owned special purpose vehicle, Granatum Ventures Sdn Bhd, has entered into a definitive share sale agreement to divest its 100 per cent stake in Iskandar Malaysia Studios Sdn Bhd (IMS) to Studio Management Services Sdn Bhd (SMS) to attract foreign investment as well as bringing economic and social benefits into Malaysia.In a statement today, it said SMS is a consortium led by IMS’s current Malaysian management team in partnership with Singapore’s GHY Culture &amp; Media Holding Co Ltd and its subsidiary, GHY Culture &amp; Media (Malaysia) Sdn Bhd.Khazanah said that the sale would be for a 100 per cent stake in the operating company, IMS, which is leasing the land where the studio premises are located from Tanjung Bidara Ventures Sdn Bhd, a wholly-owned special purpose vehicle of Khazanah.It also said that SMS is expected to further enhance the services provided by Iskandar Malaysia Studios to the industry, as well as facilitate future partnerships and production opportunities for Malaysia."The collaboration and crowd-in of Malaysian entrepreneurs and capable regional partners would catalyse further growth and development of the ecosystem in IMS,” it said.Khazanah said the partnership would contribute to higher utilisation of the studio by regional and global players, which could be supported by the local production ecosystem along with the better capacity to attract large productions and the sharing of a large content production pipeline."Khazanah remains committed to retaining the positive economic spillover benefits on the social economy while aligning its strategic imperatives of advancing Malaysia, ensuring value creation, capacity building and societal impact for the country,” it added. - Bernama