Malaysia's largest independent power producer has seen losses for the last 2 quarters. We check in with Anwar Syahrin Abdul Ajib, their CEO as to why this is happening since IPPs are supposed to be a defensive business. We also ask if Malakoff's Transformation plans are robust enough to compensate for their ageing power assets as the country moves towards a carbon-neutral future.

Hup Seng ping pong biscuits are no stranger to most Malaysian households as they are a classic snack that we grew up with, dipping the biscuits into our favourite hot beverage. We speak with the family’s 2nd generation, Kerk Chian Tung, Executive Director of Hup Seng Industries Berhad, to share with us the legacy of the company, maintaining product quality, keeping true to its brand values, dividend yields, and how it intends to stay profitable in these challenging times.

Hexagon Manufacturing Intelligence advanced manufacturing solutions and technologies are used to design and make 95% of the cars and 75% of the smartphones manufactured around the world. Lim Boon Choon, President of Hexagon Manufacturing Intelligence for Korea, Asean, Pacific and India shares with us the company’s outlook, and the Swedish company’s mergers and acquisition strategy to keep ahead of the competition.

With the announcement that the Progressive Wage Policy (PWP) will be voluntary, incentive-based and productivity-linked, we speak to Dr. Geoffrey William is an economist and a Professor at the Malaysia University of Science and Technology (MUST) to get his insights and perspectives.

After almost 19 consecutive quarters of losses, there is urgency for Pos Malaysia to transform itself. We speak to their Group CEO, Charles Brewer on what their other revenue sources will be as the core postal business faces a structural decline in an era of digitalisation.

After 26 years, Secret Recipe has a global and local footprint of 500 stores. We speak to 2nd generation Managing Director, Patrick Sim on their strategy for the next phase of growth, the challenges of the F&B industry and their monetisation plans.

Malaysian outbound travel agency Apple Vacations was making over RM270 million in sales pre-pandemic, but the Covid-19 pandemic torpedoed revenues amid prolonged lockdowns and border closures. One year after the reopening of borders, have they managed to return to 2019 highs? We speak to Group Managing Director Dato' Sri Koh Yoh Heck on the travel group's fortunes and how the company is adapting to changing consumer preferences.

FMCG company Mamee-Double Decker, now helmed by the third generation of the Pang family, and boasts a range of food products sold in over 80 countries, including iconic brands Mamee Monster and Mr. Potato. What’s their recipe for longevity in the fast-paced consumer goods sector? We find out how a homegrown Malaysian company conquered the ASEAN snack market with Pierre Pang, Group CEO of Mamee-Double Decker.

With the six-state election now behind us, what institutional reforms and policies must be the focus of state government moving forward, and should Parliamentary Select Committees be formed and institutionalised at the DUN level in all states? Questions we pose to the CEO of IDEAS, Dr Tricia Yeoh.

Today, Ukraine celebrates 32 years of independence following the collapse of the Soviet Union in 1991. The country's chargé d'affaires, Denys Mykhailiuk, talks about what it means as war to defend his homeland from last year's Russian invasion continues, the ongoing counter-offensive to retake annexed territory annexed by Moscow and what a post-war future might look like.

In 5 years, Capital A’s logistics venture has propelled itself to market dominance by disrupting this already competitive industry. We speak to its CEO, Pete Chareonwongsak as to what are the next stages of growth, whether they have the balance sheet for it and their monetisation plans.

As the mercury rises to unprecedented levels due to global warming, air-conditioning is fast becoming a necessity rather than merely luxury. But given that air-conditioning also contributes to greenhouse gas emissions, how are industry players responding to make air-con use more sustainable? We pose these questions and more to Kintaro Izumida of Johnson Controls-Hitachi Air Conditioning.

According to the United Nations, 1 in every 45 people on the planet will need humanitarian assistance, especially with the rise of natural disasters and geopolitical tension. To mark World Humanitarian Day 2023 last Saturday, Dato' Dr. Ahmad Faizal Mohd Perdaus, President of Mercy Malaysia shares with us their efforts to help those in need, difficulties in securing fund and measures to keep effective administrative expense ratio.

Slovenia has been a trading partner with Malaysia for a decade, with increasing imports and exports over the years. Marko Ham, the Ambassador of Slovenia, shares with us his views on bilateral trade and what the future holds for relations with Malaysia.

China launched its ambitious Belt and Road Initiative or BRI some 20 years ago, with around 148 countries signing up to participate in the trans-regional connectivity project, including Malaysia. A recent report from IDEAS investigates narratives surrounding the BRI in Malaysia and what this reveals about government procurement for development projects. We discuss the findings and recommendations from the report with our panel of experts.Image Credit: Shutterstock

CyberSecurity Malaysia is an agency under the Ministry of Communications and Digital, and provides a range of specialised technical services. With the unprecedented rise in online attacks, we ask CEO, Dato’ Ts Dr. Haji Amirudin bin Abdul Wahab on their role and responsibilities in the realm of cyber security and digital transformation, whether there is a lack of agency coordination, and the apparent lack of disclosures and prosecution taken against cyber criminals.

Capbay, a Malaysian home grown multi-bank supply chain finance and peer-to-peer financing (P2P) platform has surpassed the milestone of disbursing over RM1 billion to more than 400 underserved SMEs in Malaysia. We speak with Director and co-founder, Darrel Ang who joins us to share his outlook for investor return rate, collection and recovery strategy, regional expansion, and whether they can grab the #1 spot in market share leadership from their local rivals.

The final tally of the six state elections on Saturday resulted in a 3-3 tie, with Pakatan Harapan-Barisan Nasional retaining control of Selangor, Negeri Sembilan and Penang, while Perikatan Nasional held on to Kelantan, Terengganu and Kedah. Although this status quo outcome was widely expected, what do the granular results indicate about voter sentiment towards the main actors in Malaysia’s political theatre? We discuss the takeaways from the state elections with former Bangi MP Ong Kian Ming and the former Principal Private Secretary to the 8th Prime Minister Datuk Dr Marzuki Mohamad.

SNS Network which was listed in September 2022 is now trading below the IPO price. We speak to Ko Yun Hung, it's Co-Founder and Managing Director if the market misunderstands the business model and is it an undervalued gem.

Bravo Transport is Hong Kong Island’s largest bus company and Templewater owns more than 90% of the group. Cliff Zhang, the chairman of Bravo and CEO of Templewater shares with us the transport infrastructure in place for a region that is highly reliant on its public transport, as well as its sustainability agenda.

FWD Group is a relative new life insurance player with a presence in 10 countries. What is their strategy for the next phase of growth after a rather phenomenal start and is their delayed listing going to materialise soon? Questions we pose to it's Chairman, Professor Frederick Ma.Image by: Shutterstock

Keppel Pacific Oak US REIT (KORE) is an office REIT listed on the Singapore Exchange, with a portfolio of 13 assets in major cities such as Austin, Atlanta, Denver, Houston, Sacramento, Seattle, and Orlando. So what’s the growth prospects of US office buildings and business premises? We speak with CEO & CIO David Snyder on whether US based REITs still offer attractive dividend yields, and whether their plans for the future warrants us to consider this stock.

Integrated logistics provider Swift Haulage debuted on the Bursa Malaysia Main Market in December 2021 amid boom times in the logistics industry. However with slowing trade growth and a weak global economic outlook, will this pose a drag on Swift's expansion plans? We speak to Group CEO Loo Yong Hui on the growth opportunities he's focusing on, including leveraging on the rising demand of green logistics.

Aesthetic medical services provider DC Healthcare Holdings Bhd debuted on the ACE market on 17 July and closed at an 80% premium against the IPO price of 25 sen, and a market capitalization of 500 million ringgit. Managing director Dr. Chong Tze Sheng shares with us how the proceeds will be used, the fierce competition in the industry as well as the ethical considerations for aesthetics medicine.

Electronic manufacturing services player Cape EMS debuted on the Main Market in March 2023, raising RM155 million in IPO proceeds. How will Cape utilise the funds to build manufacturing capacity at a time of uncertain global economic conditions? We sit down with Group CEO Christina Tee to discuss the company's prospects and growth strategy in the EMS sector.

The Hong Kong Stock Exchange is one of the largest in the world and also in Asia. But it is seeing the lowest number of IPOs in 20 years in the first half of 2023. Nicolas Aguzin, Chief Executive Officer of HKEX shares with us their look north policy, and strategies for growth in a rising competition landscape.

The NETR and Ekonomi Madani was launched to much fanfare but will it be the much needed solution to Malaysia's structural issues. Economy Minister, Rafizi Ramli answers that questions whilst telling us what the PH strategy is for these state elections and if this is a referendum o the unity government.

With a total of 570 candidates vying for 245 state seats in the upcoming state elections, we speak to Dr. Bridget Welsh, Honorary Research Associate, Asia Research Institute at the University of Nottingham Malaysia on the election that will be a critical barometer of our political landscape.

JLL is a Fortune 200 company with more than US$20 billion of annual revenue, whose origin dates back to 1760 and is today listed on the NYSE. In Southeast Asia they advise on property deals, specialise in real estate and investment management. Chris Fossick, the CEO of Southeast Asia shares with us what to expect for the property sector amid rising interest rates and competition in the industry.

How have Zoom fortunes fared now that the pandemic is over, and most workers have returned to physical office? What other new products and services can Zoom offer moving forward to retain stickiness amongst its users, be it individuals or corporates? We speak with Lucas Lu, Zoom Head of Asia (ASEAN, South Korea, Hong Kong SAR, and Taiwan) to get the answers where they are headed to. Or maybe Claude, Zoom’s new AI can help chart its course.

Malaysia’s net foreign direct investment amounted to RM74.6 billion in 2022, but how can we further improve the ease of doing business here? Liew Chin Tong, Deputy Minister of Investment, Trade and Industry shares with us the initiatives and targets of the ministry, as well as how prepared is DAP for the state elections.

This month, the war in Ukraine crossed the 500 day mark since the Russian invasion of Ukraine began in February 2022. How do the events in Russia’s history inform the political developments of today? And what role does the international media and foreign correspondents play in crafting narratives of Russia for the rest of the world? For perspectives on these issues, we speak to former BBC correspondent and author James Rodgers. 

Malaysian are ill-prepared for retirement with only 18% of EPF members having enough savings when they reach 55. We speak with Nurhisham Hussein, Chief Strategy Officer at the Employees Provident Fund as to what are the solutions to this especially as we become an aging nation. We also discuss some of the reforms that EPF is planning to introduce and if these are the much needed solutions.

Chery has returned to the Malaysian market and launched two of its flagship models. Country Director of Chery Malaysia, Leo Chen shares with us what is different this time, competition in this country, and their plans to launch electric vehicles here.

Xendit, an Indonesian payment gateway has started its operations in Malaysia. We speak to their CEO, Moses Lo to find out their plans for Asean expansion, how soon they will turn EBITDA positive and is a listing on the cards?

Unlike 2022, Asean equities markets have underperformed compared to Japan, Korea and US. We check in with our panel consisting of Anand Pathmakanthan, Head of Regional Equity Research, Maybank Investment Banking Group and Patrick Chang, Chief Investment Officer, ASEAN Equities, Principal Asset Management as to the reasons why. We also explore what are the investment themes to consider and the stocks that will outperform in 2023.

Malacca Securities has evolved from a family run stock broker to offer financial advisory services. 3rd Generation Managing Director Lim Chia Wei, launched M+ Global digital platform 2 months ago as part of the company's expansion plans to trade in both US and Hong Kong markets. We find out how this business intends to stay relevant and profitable, in what some say is an industry in structural decline with shrinking commissions and poor retail participation.

Selangor is said to be the most competitive in this upcoming state elections. Datuk Seri Amirudin Shari, Caretaker Menteri Besar of Selangor tells us why they are confident of winning at least 33 out of the 56 seats and what strategy they intend to pursue to ensure vote transferability from UMNO supporters. He also tell us if the economic track record is really due to their efforts or thanks to geography.

WASCO, an integrated energy solutions company in the oil and gas industry known for its pipe coating segment has an order book of RM3.5bn, close to the record high. We speak to Giancarlo Maccagno their Managing Director to find out if renewable energy will be the catalyst for growth and is there still upside to their share prices after a rather stellar run already.

If you have ever picked up the game of golf, then the name MST Golf would not have escaped you. MST is the largest golf retailer in Malaysia and Singapore, and sells 90 brands across their 44 stores. They now seek to list on the main market of Malaysia on 20 July. We speak with Ng Yap, Executive Director and Group Chief Executive Officer to find out if this elitist sport is growing, and is the business of golf really that lucrative?

Caretaker Chief Minister of Penang Chow Kon Yeow talks about his first term as the state's chief executive and what he and his administration have accomplished since taking control of the state government since 2018. Now with the contest for all 40 seats in the Penang Legislative Assembly happening on August 12th, Chow is offering voters unity and a development plan that hopes to balance progress and sustainability. How will this battle play out?

ERM describes itself as the largest pure-play sustainability consultancy, in an era where all consulting firms are dabbling in the ESG space. Global CEO Tom Reichert shares with us the challenges in driving the sustainability agenda and how that’s buoying the business of consultancy. We’ll also ask him about the opportunities he sees in growing their business in the Asia-Pacific, which currently accounts for just 10% of revenues.

SkyWorld Development will be listed on Bursa next Monday 10 July, with an IPO price of 80 sen per share. Will the recently announced FY2023 record results give its IPO a boost ? We speak with Datuk Seri Ng Thien Phing, the Founder and Executive Chairman, to understand their relationship with DBKL, their landbank acquisition strategy, and development philosophy, and what he plans to achieve with the IPO proceeds for the company and himself.

In a crowded competitive market, how does Bermaz Auto, the franchise holder and sole distributor of Mazda, Kia and Peugeot intend to stay ahead of the pack. Dato Francis Lee, CEO of Bermaz Auto Berhad answer that question and also if the share price is undervalued.

The QS World University Rankings 2024 was released last week and three new metrics were introduced this time. We discuss the the value and accuracy of university rankings, as well as how Malaysian institutions stack up to global peers with Dr Edward Harcourt, Senior Vice President & Managing Director of QS

Prasarana subsidiary Rapid Bus manages urban bus networks in Kuala Lumpur, Penang, Kuantan. How is the company responding to longstanding complaints of lack of adequate bus services and poor connectivity? We discuss efforts to improve the coverage, efficiency and ridership of the city's bus system with CEO Muhammad Yazurin Sallij.

MyDIGITAL Corporation was incorporated in 2021 as an agency and is tasked to monitor the progress of the Malaysian Digital Economy Blueprint and the National 4IR Policy (N4IR). We speak with Fabian Bigar, CEO of MyDIGITAL, to see what they have been doing this past 3 years

Founded in 2016 as a Business Process Management company, DayThree has been competing with the big boys like TDCX, VADS, SCICOM, and Aegis. How have they been fairing, what inroads have they made and what is their market share? We speak with Raymond Davadass, Founder & Managing Director of Daythree Digital Berhad to understand their 7 year growth story and what the ACE Market listing in July means for future expansion.

REDtone an integrated telecommunications and digital infrastructure services provider has just moved from ACE to the Main Market, We sit down with their CEO, Lau Bik Soon to discuss strategy, competition and is the rollout of 5G more hype than substance.

Funding Societies has launched its comprehensive Islamic Financing solutions for both the micro SME and SME segments, in line with Malaysia’s aspirations to be a leader in Islamic finance. But is this enough for the platform to penetrate the semi urban markets? We speak with Chai Kien Poon, Country Head, Funding Societies Malaysia to share the strategic objectives, channel strategy and the path to profitability for the company.

With 6 states heading to the state polls, will the outcome be status quo. What is the psyche of the voter especially the Kelantanese who have been loyal to Pas since 1990. We speak to Datuk Mohd Zaid Ibrahim, Political Commentator & Former Law Minister for his thoughts and also why he has shifted political allegiances multiple times in his political career.

Six states in Peninsular Malaysia are heading to state elections by August, in what is widely viewed as a referendum on the fledgling unity government of Prime Minister Dato’ Sri Anwar Ibrahim. What are the current dynamics at play in Malaysia’s ever-shifting political landscape, and how will this determine what happens at state level polls? We discuss themes and trends ahead of state elections with our panel of experts. 

Former UK Prime Minister Boris Johnson resigned from his parliamentary seat this month, sending shockwaves throughout British politics and posing yet another headache for current Prime Minister Rishi Sunak. What are the implications of his exit for the Conservative party and the stability of the UK government? We discuss these developments with political scientist Prof. Chandran Kukathas.Image Credit: EPA-EFE

With the proliferation of devices, cybersecurity attacks have been on the rise. Victims are not only enterprises but consumers as well. We speak to GU Renukanand, Regional Vice President of F-Secure, a Finnish listed company on their strategy for growth in Asia and why they choose Malaysia as their regional hub.

The Mobile Virtual Network Operators (MVNOs) sector has been intensively competitive over the years, and only a few companies remain in the space. We speak with Farid Yunus, CEO of redONE Network on what it takes to survive, his plans to be a Superapp, market expansion around ASEAN and when will the long awaited IPO take place

The world is dividing itself into various blocs - based on ideology, economics and religion. What does this say about the role that a small country like Malaysia can play in the greater scheme of things? Dr Prashanth Parameswaran, is a senior columnist at The Diplomat and a fellow at the Wilson Centre’s Asia Programme, he is also a founder of the ASEAN Wonk newsletter. He gives us an assessment of how Datuk Seri Anwar Ibrahim has navigated foreign policy since taking office over 6 months ago.www.aseanwonk.com

EA Tech, an oil and gas company was declared a PN17 company in 2022 have submitted their regularisation plans to the regulators. We sit down with Nasrul Asni Muhammad Dain their CEO, to unpack the details of it whilst keeping an eye on their growth plans and what profit they can achieve in 2023 after registering RM20mn in 2022.

Public transport woes have been increasingly common with infrequent bus and train services, overcrowding and breakdowns. We speak to Minister of Transport, Anthony Loke about this being resolved and can KLIA return to it's former glory despite infrastructure issues. As state elections are around the corner, we also discuss seat allocations and has DAP sacrificed too much for this Unity Government.

From Putin, Trump, and Bolsonaro to Erdoğan, and Xi, the world has been seeing the rise of authoritarian leaders. Gideon Rachman, author of The Age of the Strongman and chief foreign affairs columnist for the Financial Times shares with us if this is a recent phenomenon, and what are the ingredients or environments that are ripe for these kinds of leadership.

The General Insurance industry enjoyed positive growth for 2022, but competition remains fierce amongst the existing players. And with 2 recent mergers taking place, industry market rankings have changed. We speak with Chua Seck Guan, CEO of MSIG Malaysia for a 2023 outlook, BNM liberalisation, and will MSIG rely on organic growth or look to buy to regain back its no 2 market ranking spot.

BNM has issued 5 digital bank licenses in an already competitive landscape. We speak to Rafiza Ghazali, Designate CEO, KAF Islamic Digital Bank on whether they are ready to launch, how they intend to disrupt the market and their competitive advantages in a crowded landscape.

Recent statistics reveal that up to 40% of graduates are underemployed. Is this structural issue that Sunway University is facing? Professor Sibrandes Poppema, President Of Sunway University tells us whilst we discuss their financial performance, international student enrollment and is AI a boon or bane to education.

In renewable energy, Solarvest Holdings can boast of a first mover advantage, having operated in this space since 2012. But as the solar PV landscape becomes increasingly saturated, can Solarvest stay ahead of the competition? We catch-up with CEO Davis Chong about the company's plans to expand beyond solar and Malaysian borders, as well as views on regulatory direction on renewable energy.

Sweden is at the forefront of green technology, being one of the best recycling countries in Europe. And they just signed an MOU with Malaysian Green Technology and Climate Change to promote Green Transition efforts in our country. We speak with Emma Broms to talk about all things Green and Trade, and whether the colour of money is still green.

Founded more than 150 years ago in Canada, Sun Life provides life insurance, health insurance, investments, and financial planning services. Global president and CEO, Kevin Strain shares with us their financial performance and expansion plans in the region.

Taiwan's largest institutional logistics player, ALP is on track to complete its first overseas OMega warehouse in Klang this year, with ambitious plans to build more facilities across the region. We discuss the company's business philosophy, the progress of their logistics hub in Malaysia and their Southeast Asian pipeline with CEO Charlie Chang.

In a very competitive life insurance landscape with 14 players, what niche is Generali Life Insurance intending to carve for itself? We speak to Rebecca Tan, CEO of Generali Life Insurance Malaysia Berhad to find out about their integration, are volatile capital markets a challenge and their financial KPIs.

According to the United Nations, global smoking rates are on a decline; however smoking prevalence in developing economies like Malaysia remains elevated.How much progress have we made to reduce preventable illness caused by smoking and are we equipped to deal with the risks stemming from the fast-rising use of alternative nicotine products? We compare anti-smoking policy initiatives between Malaysia and New Zealand with our panel of guests.Image by: Shutterstock

Synergy House Berhad is an e-commerce retailer for ready-to-assemble furniture whose products are in many homes in the UK, US and UAE. It will be listed on Bursa Malaysia's ACE Market on June1st. Tan Eu Tah, its executive director, talks to us about the company's plans to grow the business post-listing.

In light of global economic headwinds resulting from the Covid-19 pandemic and geopolitical tensions, what does this mean for developing countries' growth prospects? Prof. Robert Wade of LSE weighs in on how countries could use industrial policy to spur economic development amid the challenging environment, and why free markets are not an automatic recipe for prosperity for the Global South. Prof. Wade is a speaker at the Malaysia Futures 2023 forum jointly organised by the LSE Saw Swee Hock Southeast Asia Centre (SEAC) and Khazanah Research Institute (KRI).Image by: Shutterstock

Mitsui & Co Japan has raised its LGMS stake to 25% in ACE listed IT and cybersecurity firm LGMS Berhad, opening new markets across 60 countries. We speak with CEO Fong Choong Fook on how plans to take full advantage of this new partnership against the backdrop of increasing data breaches and scams reported.

The business model of accounting firms have evolved from mere compliance auditing to advisory. Revenues have jumped as a result but does arise potential issues of conflict? Deloitte CEO, Yee Wing Peng tells us how they navigate this and the operating landscape considering the threat of a global recession. We also discuss if human capital is their most important asset but also challenge.

Is the heyday of IBM behind them, with the likes of Microsoft, Google and Amazon grabbing more headlines these days in the fields of cloud service, machine learning and artificial intelligence ? Or is the giant finally awakening? We speak with Catherine Lian, Managing Director, IBM Malaysia to find out how IBM plans to respond to the competition, talent management, and accelerating growth.

Charles Santiago, Chairman of National Water Services Commission (SPAN) and former Klang MP shares his plans to avoid a water crisis, including checking on dam water levels and raw water availability, and proposals on an inter state water connection

ucrest-malaysia-digitalising-healthcare-2023-company-prospects

According to the Malaysian Plastics Sustainability Roadmap, Malaysia targets 76% of plastic waste to be collected for recycling by 2030. How far away are we from these end goals - and does the economic environment incentivise players operating in this space? Seah Kian Hoe, Founder of Johor-based recycler Heng Hiap Industries gives us the lay of the land in plastic recycling and responds to greenwashing allegations in the recycling industry. 

Niro’s recovery from the pandemic goes from strength to strength and on track for a Bursa listing next year. But is it good enough to qualify for the main board? We speak with Managing Director, Ian Kok about the recovery, regional expansion, their roadmap to list on Bursa.

G Capital Berhad is a transportation specialist turned utilities player poised to capitalise on Malaysia's renewable energy transition with power purchase agreements in small hydro power and solar power. We speak to Executive Director Datuk Yap Yee Ping on why GCAP is betting on renewable energy to bring the business back in the black.

G Capital Berhad is a transportation specialist turned utilities player poised to capitalise on Malaysia's renewable energy transition with power purchase agreements in small hydro power and solar power. We speak to Executive Director Datuk Yap Yee Ping on why GCAP is betting on renewable energy to bring the business back in the black.

Siemens has had a long history in Malaysia - stretching back more than 110 years ago when it recorded its first sale - until it became Siemens Malaysia in 1972. More than half a century later Siemens Malaysia is in many industries - healthcare, power generation, energy management, mobility, building technologies. The new President & CEO of Siemens Malaysia, Tindaro Danze, talks to us about his expectations and his priorities.

Generali Malaysia has completed its acquisition of a controlling majority in AXA-Affin joint ventures in Malaysia and is the second largest general insurer in the nation. Fabrice Benard, the Country CEO of Generali Malaysia and CEO of Generali Insurance Malaysia Berhad shares with us the timeline for business integration, how will insurance penetration rate be improved and competition in the industry.

Last month, the government announced the delay of the gazettement of the KL Structure Plan 2040 to allow for engagement sessions by DBKL and other stakeholders after complaints that inputs and objections were not responded to. In a special Breakfast Grille panel discussion, our expert guests discuss what should be considered in this plan to make KL a more liveable city.

Deputy Communications & Digital Minister Teo Nie Ching sits down to discuss what the government plans to do to take even further, Malaysia's 40-rung jump in Reporters Sans Frontières' 2023 World Press Freedom Index. She prioritises what changes need to happen to the Communications & Multimedia Act 1998 which was enacted before Twitter, Facebook and TikTok were even conceived. With 6 state elections happening soon, what is it like for once-sworn-enemies, DAP and Umno, to be working together?

DXN Holdings Berhad is involved in the sales of health-oriented and wellness consumer products, and they are distributed through its direct selling network or sales branches. The group is bound for a main market IPO in mid-May, after a delist in 2011. Philip See asks CEO, Teoh Hang Ching on how the raised funds will be used, why a relist on the main market, as well as the sustainability and the outlook of its business operations.

Last year the IRB collected a record RM175 billion in taxes, the highest in history. Much needed since the government is targeting to lower the fiscal deficit but is our tax system, fair, efficient, consistent and certain? Questions we pose to its CEO, Datuk Mohd Nizom Sairi.

Coinciding with the 20 years anniversary of the EU Delegation to Malaysia, we ask the Ambassador of the EU to Malaysia, H.E. Michalis Rokas, on the role of the EU in an increasingly multi-polar world, why did EU raise concerns about security risks in Huawei’s bid for 5G role in Malaysia and their position on palm oil.

According to the World Bank, economic growth in East Asia and Pacific region is projected to expand by 5.1% in 2023 thanks to China's reopening. But their report also points to slowing pace of reform. We ask Aaditya Mattoo, Chief Economist of the East Asia and Pacific Region, World Bank as to why this is happening and what are the headwinds he expects.

Should companies be run to earn a profit, or to serve a purpose? Author and London Business School professor of finance, Alex Edmans believes that it's not an either-or choice. Philip See speaks to Alex on the profit versus purpose conundrum that businesses face.

The United Nations has warned that the world is at risk of exceeding the 1.5 degrees Celsius limit for global warming in the next 10 years. How is Malaysia responding to the climate crisis? We speak to Nik Nazmi Nik Ahmad, Minister for Natural Resources, Environment and Climate Change on progress to reduce carbon emissions, the timeline for tabling the National Adaptation Plan and concerns over environmental data transparency.Auto-generated TranscriptThis is a podcast from BFM 89.9. The business station,The BFM Breakfast Grille, connecting you to the top people and ideas powered by U Mobile 5G. Now with you.Good morning, you're listening to the Breakfast Grille. I'm Syazana Mokhtar. The science couldn't be more clear. The world is running out of time to limit global warming to 1.5 degrees Celsius with un scientists warning that we could breach this target in the 2030s without urgent action.The house is on fire. So how is the Malaysian government responding to the climate change? Alarm bells? Nik Nazmi Nik Ahmad, Minister of Natural Resources Environment and climate change? Joins me on the show today to discuss this. Thank you for taking the time to speak with us. Nik. Welcome to the show. Hi, thanks for having me here. I'm going to put you on the spot. Is Malaysia facing a climate emergency?Well, definitely, I mean, we, we see it every day. We see it with the floods that we have that keep breaking records year after year and we see it with the incoming heat wave that we're having now. So definitely we are facing a climate emergency like other countries in the world. Ok. So you have taken a different position from the previous government. The national government said there wasn't a need yet to declare a climate emergency as efforts were being taken to combat climate change. In this sense, you're departing from their stance, Malaysia is facing a climate emergency. Well, in substance. Yes. But what I'm saying, you know, I think what was asked by the previous, on the previous government was for the government to declare a climate emergency in law with that? I think that, you know, I I I think that we don't have to declare a legal climate emergency. It was declared in law in the UK and nothing much has happened. What is more important I think is to understand about how big the climate situation is and to address it rather than, you know, putting us to certain standards that may be, you know, that, that are false or provide an illusion. Ok. At the same time, you acknowledge there is a climate emergency of sorts, but you have also postponed the climate change bill which was a piece of legislation that was on the cusp of being tabled by the the national government. If not for GE15, you push that back another 2 to 3 years. Why has this bill been delayed similar to having, you know, about declaring us having a climate emergency? I do not want us to just tick the boxes without having a significant or substantial uh meat to the legislation. So, with regards to the Climate Change Act, and I, I know uh my, my predecessors, a few generations back Yeo Bee Yin,Uh she did put some work into it, you know, and, and it was uh uh what do you call that progressing at good pace? However, when I came into office, I didn't get much on the table uh from my immediate predecessors. Uh So, you know, for me, you know, I do not want to just rush a Climate Change Act this year.Uh And seeing that it does not address many of the things that we want to address. Um Actually, we have many legislations that are existing that can address climate change, uh that we can work on, make it more effective, which is, is I think uh as important as having a Climate Change Act in place. So you tweeted back in February this, that we want a bill that's not toothless, that is comprehensive and that will be truly impactful what was lacking in the draft bill that warrants a complete overhaul from your perspective. I think I've said it often enough that uh I did not get anything from my predecessor.So, so now, you know, the team, that's why you're starting from scratch. Yes. Um You know, so I'm, I'm asking the officials at the ministry and and you know, for us to have a, to have a really thorough look at the legislation to really consult widely um to see how other countries are doing uh the the legislation and also to have a proper engagement with the various stakeholders, civil society, um academia, businesses to see when the bill comes out, it will be truly comprehensive. So at this point, do you have, I suppose a vision of sorts, Nik in terms of what you think should be in this bill or what you want it to encompass?I think there are two key elements um in terms of carbon emissions. Uh it's something that we really need to address. Uh but you know, as a country, we do not emit that much, we emit about 0.69% of the carbon emissions globally. We are doing quite well compared to many other countries at our stage of development and our size of economy. However, we are also, we also have to play our part. I mean, that's very crucial.And secondly, we are a trading nation as we know many um E N E companies, for example, are putting stringent climate goals. So if we do not uh have uh ambitious climate goals, then we, you know, our industries will be hollowed out in the next 5, 10 years. That's one. Uh but the other part which is just as important is things like adaptation and mitigation.Um I think that is more urgent for Malaysia. We are a country, a maritime country. Basically, we've seen the floods, we've seen sea level rise, we've seen erosion happening.Um So I think those are things that we need to address in the Climate Change Act to ensure that we are able to, you know, survive, you know, when, when it comes to not just 2050 2030. All right, ambitious climate change targets. That that's what you mentioned carbon targets. So Malaysia has clear goals for climate mitigation that were submitted to the United Nationsas part of our National Determined Contribution N D CS. We updated that in 2021 we're going to reduce the intensity of carbon emissions by 45% by 2030 compared to 2005 levels. Some parties would argue that our N DC targets are not ambitious enough, reducing carbon intensity by 45% of 2005 levels can be done without actually lowering emissions. How would you respond to that?Well, I think one of the concerns um in fact, I mean, there are two sides to the argument. Some people also said that, you know, we put that target unconditionally many other countries when they have their submissions to the N DC on reduction of carbon intensity, it was conditional but we, you know, we gave it away. But I think, you know, it is what it is and, and I think we will be reviewing it uh in the next few years. Um So I think as long as we, we, we stick to that plan,um I think we are in good state because um actually many of our targets are very ambitious compared to our neighboring countries, even the more advanced ones. Um But the issue is not about targets alone, it's about the pathways to achieve those targets. You know, it's like, you know, going a, a student going and declaring to his parents, I'm going to get 10 A in S PM and not studying, you know, or or not working for it. So the targets I think is there is about working and finding the pathways to achieving those targets. So just to clarify, uh Malaysia has also pledged to become net zero at the earliest by 2050 this was announced by the Ismail Al Sabri government and this is a pledge that the present government also intends to stick to. Yes. Yes. Ok. UmOne of the key pieces of Malaysia's climate mitigation strategy is the transition to renewable energy which the government targets to reach 40% generation capacity by 2035. My question for you, Nik is, can this be achieved without first dismantling the fuel subsidies that are keeping energy prices artificially low? For Malaysians? At the, at the moment,I think the shift to uh targeted subsidies is crucial for us to jumpstart our energy transition. And we've started that, you know, one of before one month in office. Uh My first task was to uh have the review for the next IC P T cycle where we, where we increase the surcharge um for industries for commercial sectors which were using uh which were medium and high voltage users in the energy sector.Uh by what, 400% right from, from uh all the way to 20 cent. Um it still subsidized. Uh but it's a huge increase from what it was. Uh And, and I think, uh and there was a lot of complaints, uh, understandably and, but I also think that industries, businesses need to understand that we have uh given a blanket subsidy for so long, you know, and many of these uh businesses have enjoyed that. Right.So, uh complaints, yes. Um a lot of noise in the media but uh ultimately, you know, I met a few of them after a few months and, and now they have adopted uh energy efficiency plans. They are using more solar. Uh And I think just because it's uh priced nearer to the market and people understand that and I think um the plan is not just for the industries and commercial sector, the non-domestic sector, but also for the domestic uh consumers for the, at least we can start with the T 20. I mean, if you are using, uh if you're having a bungalow, a landed house with 10 air cons, you know, dryers and what not, you should be paying a market rate for your electricity. I mean, that's something that we, we, we, we want to work on, right. Um So, so that's part of it, the energy efficiency and Conservation Act is it has been in the works, I think even during the Naps administration, we hope to pass it this year. So I think that will be another important impetus towards energy transition.Uh And, and yes, as you rightly said, the next other part, the other part is electrification of mobility of, of transport. Um And we also need to address where now you know, if you are using regardless, I mean, even people who are using the most expensive cars uh are now using route 95 for example, because it subsidized,it's cheaper. So I think we also need to address that towards targeted subsidies so that then people will make that transition towards electric vehicles as well. Does the fuel subsidies? Does that come under your portfolio? As an R E C C Minister? I mean, do you have influence over what happens? Input will be there? But it's led by the Ministry of Finance anduh Ministry of Domestic Trade. And yeah, ok. I'm speaking to Nik Nazmi, Nik Ahmad, Minister for Natural Resources Environment and climate change is Malaysia doing enough on climate adaptation. We'll have more on the Breakfast Grilleafter the break. Stay tuned. BFM 89.9,you are listening to the breakfast grill brought to you by you Mobile 5G. Now with you.Thanks for staying tuned to the breakfast grill. I'm Syazana Mokhtar. And with me on the show today is Nik Nazmi Nik Ahmad, minister for Natural Resources, Environment and climate change. Nik. Earlier on in the show, you mentioned the energy efficiency and Conservation Act, which you said has been long in the works. Why is this a priority for the government now?Well, because there's two sides to, to when we talk about energy, one is about having cleaner sources of energy generation, right? Uh We still have a lot of coal, for example, gas is low carbon but its still carbon. Um we want more solar and all that. So that's one element of it and, and that takes time,but the other element is energy efficiency. Uh because um we, we also know that actually um with new technology, a lot of equipment, a lot of uh uh machines and stuff are getting more and more efficient in terms of using energy. Um the electrical appliances that we use today are much more efficient in terms of using energy compared to what our grandparents were using. For example,the UK over the past 20 years, the energy consumption has gone on the downtrend, right? So if we can do that, that means we require less energy and, and that means we, we do not have to rely so much on, on the uh coal and gas plants that we have today. And, and you know, we also have enormous uh reserve margins for electricity. So that will definitely help in our energy transition.Nik is the introduction of an energy efficiency and conservation Act. A prerequisite of sorts to secure renewable energy transition deals with developed countries. I wonder, I understand that most of our neighbors have some form of energy efficiency regulation in place. And last year, both Indonesia and Vietnam concluded finance partnerships with rich countries to advance their green energy agenda. Is that part of the reason why you want to push this? Now,I I, you know, if you ask me, it's not just because of that. Um I think um if you talk, I mean, definitely we would love to be part of uh you know, all these lucrative deals um for us to accelerate our energy transition. Um I mean, if anyone can help us to have now our commitment is no new coal plants, but if we can have uh early retirement of coal plants with the right uh structure in our energy sector, with the right financing.Um whether it comes from overseas or from the banks and whatnot, it's something that we'd be happy to consider, right? Um But I think why, why we missed out was um and, and we actually have a lot of good policies and plans but maybe it was not communicated or marketed enough before. Um And I have spoken uh you know in cabinet, I've spoken to the Prime Minister that I think this is something thatit has to be central. And I think definitely, you know, the the Prime Minister has understood this. Uh we had a lot of things for my ministry in this budget 2023. So the government understands how important climate change is and and we hope that that that can be the key plank for the an Ibrahim administration. Ok. So there's definitely going to be more foreign policy outreach when it comes to thegreen energy agenda and the green agenda in general, I want to stick to energy a little bit more. The appointment of Mohammad Radan Moma Yusuf as chair of the Energy Commission in February did spark backlash given his then position as the Deputy managing Director of Gamuda Gauda is of course a major player in the renewable energy space. He has since resigned two months after he was first appointed. I mean, was this the result of the Prime Minister's intervention?No, I mean, uh you know, in the first place, uh obviously we did our checks and what not. Uh There are a few things that we have to correct. Dauda is not a major major renewable energy player. They have a small investmentuh in uh renewable energy. They are mostly uh construction uh property player and most of their revenues come from abroad. Uh But what, what, what was uh and I think the most important thing. Um Yes, as you rightly said, I think a lot of people were expecting him to design from S T but it was just a narrative that people wanted to create.Uh But uh rash, he, he made the choice to his credit that he, he was excited about contributing to this and, and I think, surprised a lot of people by resigning, not from S D but from Gamuda.Um And, you know, he has a long record of, of um being able to shake up um markets, being able to uh do uh various uh corporate uh restructuring that has uh left uh you know, it was really radical corporate restructuring, which I think uh uh has shaken up the market. And I thinkas that's why we wanted him there. You know, that's why we, we put him there was because he uh I, I believe that we can do better in terms of energy transition and, and we need to have a more uh you know, uh focus uh view on this and, and Rash is the right person for thisis that you've specified to him that you want to see him achieve in his post as the chair of the Energy Commission. Well, well, right now, you know, we, we under my R er we our renewable energy road map, we have targets of installed capacity for R E 31% as opposed to 24% present me31% in 2025 40% in 2035. Um But as I've said, if there are ways to accelerate that, if there are ways we can look at uh uh you know, to really ramp up solar uh to get uh Malaysia to play a central role in the ASEAN power grid.Um You know, we are already supply, we are already, our grid is already supplying electricity from Laos to Singapore. For example, you know, we should be able to be at the center for ASEAN. Once all the interconnections are there, um the looking at reviewing our ban on renewable energy exports, you know, so all these things are things that are the K P I s for for rush to achieve. Ok. So very full inbox trayand passing it on to him. I would like to turn our attention to the other side of the climate change action coin which is adaptation. How would you respond to accusations that the government is doing far too little to address climate resilience? The policy focus has been very much on mitigation on reducing carbon emissions as evidenced by the many blueprints on low carbon aspirations. When will the government present the Malaysia National Adaptation plan?Well, our uh we've just submitted our proposal to G C F, the Green Climate Fund uh to prepare the National Adaptation Plan N A P uh on 27 March this year. Uh and it is going to focus on water security and water resources, agriculture and food security,uh infrastructure, energy and environment, forest biodiversity, and public health. So yes, as I said, um you know, in truth, a lot of the things about carbon emissions and what not, we are a very small player in the big sum of things, right? Uh We, we, you know, other countries are contributing far, far more to that and, and even if we play our part and they don't, you know, we'll still be underwater by 2050.Uh But adaptation is then plays a very key role because we have more control over that.Uh We've seen the floods, we've seen what's happening. Um With regards to every uh uh places that have never been flooded are now experiencing floods. Um erosion. I've seen, you know, roads in, in the east coast, in the west coast where they are now disappearing because of uh erosion. So I think um adaptation plays a very key role and, and definitely, it's one of our focus and I think one of the things that we keep repeating on,um yes, we need to do the, the, the carbon emission side and all that because of yes, we want to play our part. Secondly, we are a global trading uh player. But adaptation is the priority. Uh if you want to talk about survival for our Children and their Children.So the previous government cited that Malaysia would need funding to the tune of 400 billion ring to overcome flooding issues until the end of this century. This is just for flooding is that the quantum that you have in mind as well in terms of what's going to be needed to invest in adaptation measures.Well, you know, if you want to talk about adaptation as a whole, it might be even more, right? Um but yeah, I mean, that's based on one study uh um that, that has been cited and, and definitely, you know, we are spending more and more uh for flood mitigation uh for adaptation. Uh We are also going to come up of uh flood hazard maps and whatnot so that it can be built in, in, in insurance. So, you know, basically the, the the country has to move uh has to transition towards this.Um The B and I think, you know, when, when some people look at it as a huge cost um is the biggest portion of my ministry, for example, uh flood. Uh But if you then calculate how much losses, ultimately loss of life, but also loss of property loss to the economic sectors.If there is. Uh I mean, when we see a sea level rise, our biggest uh port Port Clan will be totally exposed. Uh And what's the impact to our supply in the country? Right? Uh getting food, getting vital uh goods inuh our power plants and a lot of them are near the, the sea as well. Uh What will happen to them? So these are things that we have to recognize and, and then you will understand that the huge expenditure is actually affordable once you look at it because we are going to save much more when we spend on adaptation and mitigation. Ok. I think um many,I agree with you, Nik, I think that we do need to see more funding being sent to adaptation. But the point is we're not seeing it yet. So when will the government, I suppose put these efforts in motion, when will we see on the ground, the adaptation efforts take place? Well, I think um some of the, you know, flood the projects that are addressing floods and whatnot. I mean, that's already there. Uh But um I think the key part will definitely be uh when we have the National Adaptation plan because that will beuh you know, the, the, the focus for all our adaptation uh programs and projects. When will this be tabled? Um Well, we, we are working on it. I mean, as I said, it's been submitted to the uh to the G C F. So hopefully, uh we can uh you know, once we go through the various um stakeholder discussions because we want the inputuh from the grassroots, from the activists, from various stakeholders. Uh Then uh you know, then we can uh then we will uh make it as an official policy? Why has it taken so long for adaptation to be made a priority by the government? Do you think Nik? I mean, people would say this is, this is late, we are very late in coming up with this adaptation plan. Um What gives,well, you know, um I do not want to blame predecessors or whatnot, but I think sometimes, like I said, I mean, it, it becomes sexy to talk about uh carbon emissions because it's there. And, you know, some, a lot of times our energy uh sorry environment conversations are driven by what's been talked about in the developed countries. Um And obviously, I mean, I understand why, why, you know, they want to talk about carbon emissions, they are the major polluters, right?Uh They've cut down the forest for 2, 300 years and they've developed at our expense, but people don't want to talk as much about adaptation. Um because it's something that is more relevant to a maritime developing country like Malaysia.Um And, and I think, uh you know, sometimes you, you do get, you, you get uh you, you're stuck with the narrative that's been played in the developed countries. And I think we need to understand that every country's climate challenge differs. Uh you know, when you are a developed economy, when you're a big polluter compared to a developing country, which is um a peninsula and part of an island, right? So that, that's the context that we have to understand.I'm speaking to Nik Nazmi Nik Ahmad, minister for Natural Resources, environment and climate change on an extended edition of the breakfast grill after the 8 30 AM news bulletin is Malaysian policy making being held hostage by state elections. Stay tuned. BFM 89.9.You are listening to the breakfast grill brought to you by you Mobile 5G. Now with you, you are listening to an extended edition of the breakfast grill. I'm Syazana Mokhtar. And with me today is Nik Nazmi Nik Ahmad, Minister for Natural Resources Environment and climate change. Now, Nik earlier on, we were talking about adaptation and adaptation measures that Malaysia is taking. I would like to touch on forestry measures because unchecked development and deforestation have been cited as among the key reasons for the increased severity of flooding and higher incidents of landslides. Now, we know that forestry management is under state government purview. But what levers do you have in the federal government? What are you using to maintain oversight on what's happening at the state level?Yeah. So um when you are at the federal level, we have uh we do coordinate between the state governments. We have, we have Biodiversity Nagara which recently said uh we have the Malaysian Climate Change Action Council which is chaired by the Prime Minister. So uh a, so those are the platforms that we have uh with uh the state governments um in order to uh coordinate uh policies uh and also to share targets and best practices. Uh So what, what we try to do is um you know, you know, there, there are various things, for example, now, you know, when, even when there's a palm oil, for example, we have uh you know, sustainable palm oil certification, uh even for forest management. So that is an encouragement for them to conform because in order for them to have access to the widest markets, then they have to meet those targets. Um And most, I would say most states do meet those targets.Um And to be to the credibility of the standards when they don't, they are penalized. I mean, they are taken out uh the, the from the certification. Um but rather than just sort of a stick approach, uh you know, uh we also uh we also have uh what you call the incentives carrots, for example, which has been there since 2019 is the ecological fiscal transfer. How effective has this mechanism been?Well, uh you know, the, we, we do see um states because the main complaints when you talk about states that, that tend to have problems. I mean, I'm generalizing but it tends to be the states when, where they do not have a big uh commercial or industrial sector. So they rely on exploitation of forests. Um and they, they, they also tend to be the ones with the biggest forest covers. So they rely on exploitation of forests in order to uh for, for revenue.Um So they say, OK, you are giving us all these lofty targets and all that. But what's in it for us? And they are, it's, it's a bread and butter issue as well. I mean fair to them.So, so we say, OK, you know this uh E F T it was 60 million Ring Gate when it was launched in 2020 19. Then the last two years, it was 70 million ring gate each year. And now the Prime Minister has increased it to 100 and 50 million ring gate. But what's the take up is this actually going to state government is sitting in a bank somewhere? They, they all go to states. Um We look at uh one is the size of the forest coveruh but also what they are doing uh in terms of uh if, if they do add uh their, their uh permanent uh forest reserves, uh what they're doing for, for uh the uh the dilapidated forest, what are they doing to restore it? So there are a few criterias uh that we look into and we are trying to make it even more sophisticated so that uh you know, it's not just giving free money but it's conditional. Um And, and to encourage good behavior, I think that that's the most important thing.Um But yeah, I mean, the problems are there definitely, for example, uh was the only state that had a public consultation uh for the gaze of Forest. It was there in the enactment then last year, the previous government adopted that for the National Forestry Act amendment. Uh Unfortunately, after that, only one other state has adopted that as well. The others have yet to do so. So because that the state legislation in order to, to uh exercise that we have to keep reminding themthat, you know, you have to do that and, and it will eventually reflect, I mean, some of them now want to go into carbon trading and what not. If you don't do that, it will have an impact into the credibility of your carbon assets and so on and so forth. OK. So I can see that there is continuous engagement with the state governments on the initiative that they're taking on forestry management. Now there has been excellent investigative journalism byMalaysian organizations like Rainbow Watch and Makara on the gaps in forestry data, including differences between what satellite images show and what's in official records of land use. How are you addressing questions of government credibility when it comes to environmental data?Yeah, I mean, I, I think uh it's also an issue of sometimes an issue of definitions. OK. Uh I mean, I, I, I, I came up with a very open statement, you know, listening to and I, I in fact met, met uh with most of these NGO or or institutions listen to their concerns. Um Sometimes it's also an issue of how we can communicate better.Uh But yeah, for example, one of the major issues is whether forest plantations should be deemed as uh you know, forests at all. Um and, and we know that there's a problem states like for example, or even other states have issues with uh uh forest uh uh plantations and what we have been doing. Um You know, the the previous Prime Minister uh to his credit, he has uh put a moratorium on forest plantations because what happens is that it's supposed to repair dilapidated forest, then you're supposed to have uh you're able to have selective uh forestry uh exploitation over the next 30 years or something.But some often it goes to virgin forest and they just want the timber and then the replanting doesn't happen or it happens very slow or it's just uh mono species or, or foreign species that's been planted because it's, it's actually forest plantation can be very, very expensive if you want to do it, right. Uh So the moratorium was the right move and I think we really need to address uh to, to see um what can be done to address the damages that has been done by forest plantations. And so that's something that is in the works. Um So, and, and that adds to the discrepancy, the gaps in the data that's been raised by, by watch and and what the government has. OK. So this is something you're aware of, you're looking into it. Why can't data be more transparent? Nik? I think that's some of the things that these organizations are calling for, for this data to be made public so that more parties can scrutinize this. Uh Is that something that you are considering doing? Well? It's, that's the ideal uh you know, we have three forest Agencies, Saba and um and then, as I said, in terms of uh the jurisdiction is actually state jurisdiction, although JP S M is the body but then um you know, is in charge of its forest, is in charge of its forest and so on. So in that process, uh there is uh some uh mismatch of data as well. Um And, and I think um I mean, it's an ongoing process, it won't be easy. You know, when, I mean, uh when, when you want to talk about integrating uh government data um across the various levels of government uh across various agencies, it can be difficult. Um I mean, to be fair, I mean, even the government now we do use, I mean, we also use satellite. We, we also use uh to look at the problems of deforestation and what not. So we are also taking into account of all the data that's being used by other agencies, Penang South Islands. Uh Nik, let's talk about that. The Penang South Islands reclamation project received approval for its environmental impact assessment report last month, subject to 71 conditions. I haven't been able to find the E I A decision in the public domain. What are these conditions? It's actually in the website. Uh you can download it. Um But you, it's actually accessible uh in the website. Um uh What,what I can say is that uh you know, it is a process, it's not that I personally approve or reject the report. How much say do you have over this E A, I had a few things. Um, I mean, I met, uh, I, I, I listened to the case of the state government, you know, um, I, I also listen to uh the concerns that were raised against the project but it has its own process, it has its own board, uh that, that actually approves it.Uh, it's not an arbitrary thing where even the, I mean, that's, and that's how it should be, you know, it shouldn't be on one person to approve or disprove a project and, and to be fair, you know, it has gone through a long process. Um, it was approved what, 2018 and then, uh 2019 and then an appeal came in. Um, so the E I A was rejected, I think in 2020 or 2021. And then, umwhenever then the state, uh the project, the state authorities came out with uh the plan. Um, the, the, the uh related authorities had some concerns, you know, it was all addressed one by 11 by one.So it was a very comprehensive process. It took many, many years. Uh And, and I think that's why has this process been transparent enough because you yourself talked about how E I A reporting sometimes isn't transparent in the case of the Penang South Islands. It has it been trans, I mean, it's one, as I said, it's one of the most transparent and comprehensive uh processes for E I A that has been, that has happened. OK. That, that's one.But uh what, what the other thing that we have to bear in mind, even the approval was granted with 71 conditions. It's not a blank check and they still is still subject to the uh environmental Management plan. E MP being approved. It has not been approved, right? So there's a few more stages to go as well just because the A I A was conditionally approved, doesn't mean that, you know, it's alluh that they can do what they want there. OK. So what are you going to do then to ensure that there's proper oversight on the project implementation? Well, you know, like I said, you know, we, we will uh the, the E MP, the E MP will be looked into, we will ensure that uh what you call that uh the, the project can satisfy all the 71 conditions.Um And you know, there's still, I mean, people can still appeal if they want to appeal against the E I A approval, even though it's conditional. Uh people can still go to the state government uh that approves and, and you know, they have that process through the local government route. So there are various routes that they can use uh for anyone who is unhappy with the project.So Nik, here's the conundrum of the dilemma that I see the Penang South Islands project can be used as an example of the policy incoherence perhaps in terms of our climate change action. So on one hand, we have these goals of having adaptation, ensuring climate resilience of uh you know,2050 0 net zero targets. But at the same time, we are also green lighting, these projects which will cause massive carbon emissions which will destroy the marine biodiversity of the area. How do you reconcile these very two disparate uh I guess aims? No, I mean, even if you look at the report, there is an impact ultimately on some shrimp migration on fisheries. Yeah, but if you look at details, yeah, most of it has been mitigatedand we have to accept that unless we do not want to grow as an economy, then uh we can stop all development. Uh But that's always the balancing game that we have to recognize. I accept that there has to be sustainable development, but development is there and it has to be sustainable, right? And balancing that is not an easy job, I can recognize that.Um And, and you know, I said this like the thing, it was uh it was submitted, it was approved in 2019initially, right? And then it was uh uh the the the what they call that uh the appeal against it was accepted. So they had to go back. So the process was very rigorous. Um And with 71 conditions with many agencies, Fisheries, um there was a social impact as assessment done. Also things that are outside environment, traffic impact assessment,all those things were submitted. Uh So I think, you know, it was a very, very thorough process and, and I, that's how it should be done in the sense that any development process cannot be given as easily as it was before, it has to be looked thoroughly. UhBut it's something that we have to recognize that there will be uh uh what do you call that? There will be things that we have to give and take in any decision. But as much as possible, I would like, you know, the development has to be sustainable, right? We have one minute left on the clock Nik, but I can't let you go withoutmaking some reference to the political situation in the country. We're heading into state elections in the next six months, if not sooner. Is this a primary consideration in policy making for the government? Are you holding off on the tough decisions until after the polls to avoid risking the disenchantment among the voting public? No, I think uh for us it's what's best for the country. Um Obviously you have to be smart at communicating it. Obviously you have to listen to and engage with the stakeholders.Uh That's the political reality. Uh You, you have to be tactical about those things. But the big picture for us if we need to do something now, um it's a bit difficult then we will do it now because it's uh if it's necessary, Nik. Thank you very much for joining me on the show today. Thank you. Thank you very much. I've been speaking to Nik Nazmi Nik Ahmad, Minister for Natural Resources, Environment and climate change. This has been the Breakfast Grille on BFM 89.9.The BFM Breakfast Grille is brought to you by you mobile 5G. Now with you.You have been listening to a podcast from BFM 89.9, the business station for more stories of the same kind. Download the BFM app.

The pandemic and rising input costs hit the construction and property sectors significantly causing listed company, Crest Builders to suffer three consecutive years of losses. Eric Yong, Managing Director of Crest Builder Holdings Berhad tells us if 2023 is the year where profit will be achieved despite the competitive environment and their strategies for growth.

Romania, a country in Eastern Europe, has much to offer the world - access to at least 10 EU countries via the famed Danube River, accessible from the Black Sea; a passionate effort to combat corruption; and a commitment to fight climate change. Ambassador of Romania to Malaysia, Nineta Bărbulescu, breaks down the experience of her nation, one generation after the fall of communism there.

Dymon Asia Private Equity invests in Southeast Asian companies in the lower mid market space, typically looking to invest between 15 to 50 million dollars. Some of their investments are Farm Fresh, BookXCess and Frontken. Managing Partner Tan Chow Yin shares with us their recent fundraising and how the environment for investment changed post-pandemic.

April 20th every year is the United Nations Chinese Language Day in recognition of the fact that it is the world's second most spoken language with over 1.1 billion speakers (English has some 1.12 billion). In Malaysia, the existence of vernacular schools that use Mandarin as a medium of instruction has been a topic of debate - does it help unite a multi-ethnic society or is it necessary to bring in much needed FDIs - or do these have to be mutually exclusive. Eddin Khoo, an author and senior fellow at ISIS as well as Wong Chin Huat, a political scientist and professor at Sunway University break down the issues.

Global business process outsourcing or BPO is a 300 billion US dollar industry, with the customer experience (CX) sub-sector accounting for about a third of that pie. How is Singapore-based player TDCX carving out its niche amidst a competitive landscape and the digital transformation wave? We speak to Executive Vice President and Group CIO Byron Fernandez to find out.

Rubber has had a long history with Malaysia where at one time we accounted for half the world's supply of rubber, transforming Malaysia into Britain’s richest colony. But for the past decade, the industry has been on decline since its heyday. We speak to the Malaysian Rubber Board's Dato Dr Zairossani for the government's plan on expanding the industry and assisting its stakeholders.

Homegrown jeweller Habib Jewels has been giving the Gift of Happiness to Malaysians for 65 years and counting. But can Habib keep Malaysian spirits and the fortunes of the overall company buoyed amid global economic headwinds? We discuss the intricacies of the jewellery business with Dato' Sri Meer Sadik Habib, Group Executive Chairman of Habib Group.Image credit: Shutterstock

With Hari Raya round the corner, we check in with Datuk Wira Dr Ameer Ali Mydin, Managing Director of Mydin as to how sales have been, what is his strategy in a very competitive environment and will Mydin ever be sold. We also ask if this new government is pro-business and what advice would be given to a budding entrepreneur.

Integrated auto e-commerce platform Carsome has the distinction of being the first Malaysian unicorn, reaching the critical USD$1 billion valuation in July 2021. But as global macroeconomic headwinds dampen the prospects of industry disruptors like Carsome, including scuppering its widely touted IPO last year, can the company stay on course for growth and profitability? Eric Cheng, CEO and co-founder of Carsome discusses how it plans to navigate the challenging track ahead.

After 3 very challenging years, no thanks to the pandemic, has Tune Protect finally turned to corner? What are the growth strategies, why do they want to be part of the Bank Negara's financial sandbox and does being associated with Air Asia work against them. Questions we pose to Rohit Nambiar, Group CEO, Tune Protect whilst asking him if the market underappreciates the stock.

T7 Global Berhad has its roots in the oil and gas industry and now diversified to the construction and aerospace industry. Executive Director, Tan Kay Vin shares with us how the company is navigating through net zero ambitions of the oil and gas players, why dabble into other industries, as well as updates on their consortium with Siemens to upgrade the baggage handling system for KLIA.