SELANGOR'S ROBUST INVESTMENT PERFORMANCE FROM JANUARY - SEPTEMBER 2024 POSITIONS THE STATE AT THE FOREFRONT, OUTPACING OTHER STATES

Selangor’s Robust Investment Performance From January – September 2024 Positions The State At The Forefront, Outpacing Other States

SHAH ALAM, Dec 23 (Bernama) -- Selangor has once again reaffirmed its position as the leading state in investment performance, recording an impressive approved investment of RM66.8 billion between January and September 2024 as reported by Malaysian Investment Development Authority (MIDA). This achievement positions Selangor at the top, followed by W.P. Kuala Lumpur with RM63.9 billion, Kedah at RM34.0 billion, Pulau Pinang with RM22.6 billion, and Johor at RM18.1 billion.
The approved investments in Selangor are made up of RM15 billion from manufacturing-related projects, RM51.7 billion from the services sector, and RM38.7 million from the primary sector. This reflects a significant 58.7% increase, compared to RM42.1 billion recorded during the same period last year.

Domestic investments accounted for the majority of the approved investments at 68.3% or RM45.6 billion, while foreign investments contributed 31.7% or RM21.2 billion. Both domestic and foreign investments demonstrated remarkable growth, with domestic investments surged 74%, from RM26.2 billion, and foreign investments increased by 68%, compared to RM12.5 billion in the same corresponding period last year. Top contributors to foreign investments in Selangor during the period included the USA (RM4.8 billion), Singapore (RM1.8 billion), the People’s Republic of China (RM1.76 billion), Japan (RM564.6 million) and Germany (RM421.3 million).

A total of 1,371 projects were approved in Selangor, comprising 253 manufacturing projects and 1,116 services projects. These projects are expected to create approximately 50,222 potential job opportunities, marking a substantial increase from 997 approved projects and 23,060 potential job opportunities recorded during the same period last year.

The services sector continues to be the key driver of Selangor’s investment performance, with major contributions from sub-sectors such as Information and Communication, Real Estate, Support Services, Transport Services, and Distributive Trade.

In the manufacturing sector, strong investment performance was contributed by leading sub-sectors such as Electrical & Electronics, Transport Equipment, Fabricated Metal Products, Non-Metallic Mineral Products, and Machinery Equipment. This underscores the manufacturing sector’s resilience and continued growth.

According to YB Tuan Ng Sze Han, Selangor State Executive Councillor for Investment, Trade & Mobility, “This remarkable investment performance recorded by the state of Selangor, showcases the vibrancy of its industrial ecosystem, cutting edge technological capabilities and its competitive strengths in manufacturing and services sectors. It has certainly validated its case as a premier and attractive destination for investors. The future looks bright for Selangor and we hope the upwards momentum to continue and yield positive full year result for 2024”.

About Invest Selangor Berhad:
Invest Selangor Berhad (ISB) is the state government agency responsible for promoting and facilitating investment in Selangor, Malaysia. With its commitment to providing investors with the ease of doing business, ISB ensures investors have a hassle-free investment journey. The agency offers a comprehensive suite of services, including site selection assistance, investment facilitation, and aftercare services. ISB is dedicated to providing investors with a conducive business environment, which includes streamlined procedures, efficient services, and access to industry insights and networks. This commitment to investor ease of mind has made Selangor an attractive investment destination for local and foreign investors. With ISB's support, investors can focus on their business operations and leave the administrative matters to the agency, giving them the peace of mind they need to grow their investments in Selangor.

For Selangor investment enquiries, please visit www.investselangor.my

SOURCE : Invest Selangor Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Maryani Binti Mat Saad
Tel: +603 5510 2006
Email: maryani@investselangor.my

--BERNAMA

REPORT ON "KLCC PROPERTY SAID TO BE BUYING BANDAR MALAYSIA FOR OVER RM10 BIL" IN THE THE EDGE MALAYSIA, 23 DECEMBER 2024

KUALA LUMPUR, Dec 23 (Bernama) -- KLCC Property Holdings Berhad (KLCCP) refers to the news report on “KLCC Property said to be buying Bandar Malaysia for over RM10 bil” in the The Edge Malaysia, dated 23 December 2024

KLCCP wishes to inform that we are not a party to this transaction. We are not the buyer as reported.


About KLCCP Stapled Group

KLCC Property Holdings Berhad (KLCCP) and KLCC REIT, collectively known as KLCCP Stapled Group is Malaysia’s largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets. KLCCP Stapled Group became the first ever Shariah compliant stapled structure in Malaysia upon the listing of KLCC Stapled Securities (KLCCSS) on 9 May 2013 and trades under the REIT sector of the index as a single price quotation.

KLCCP Stapled Group’s core business is in property investment and development, and provision of management services. The Group owns iconic prime assets, namely the PETRONAS Twin Towers, Menara ExxonMobil and Menara 3 PETRONAS under KLCC REIT and Suria KLCC, the premier shopping mall, Mandarin Oriental, Kuala Lumpur hotel and a vacant land (Lot D1) under KLCCP. KLCCP also has a 33% stake in Menara Maxis.

KLCCP Stapled Group redefines excellence in real estate. With decades of experience building the nation’s iconic landmarks, it has elevated industry standards and expectations, reinforcing its commitment to enriching lives and building a more sustainable future.

Issued by:
Group Strategic Communications and Investor Relations
23 December 2024

SOURCE : KLCC (Holdings) Sdn Bhd

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Yasmin Abdullah
Head, Corporate Communications
Group Strategic Communications and Investor Relations
KLCC (Holdings) Sdn Bhd
Tel: +603-27837584
Email: yasmina@klcc.com.my



--BERNAMA

EMGA OBTAINS US$90 MLN FINANCING FOR BRAZIL-BASED CLIENT FROM EIB

KUALA LUMPUR, Dec 20 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA) has secured US$90 million in debt finance for its long-standing Brazil-based client, BTG Pactual, the largest investment bank in Latin America. (US$1=RM4.50)

According to a statement, the US$90 million senior unsecured loan was provided by the European Investment Bank (EIB) and the transaction follows on from a very recent transaction also advised by EMGA for US$210 million.

EMGA Managing Director and Head of Investment Banking, Sajeev Chakkalakal said this was a fantastic add-on transaction to the US$210 million green financing facility that the company raised for BTG from EIB.

“In this instance, this financing is aimed at funding BTG’s SME Lending portfolios and has an especially high development impact given that the finance will support small business development in disadvantaged regions of Brazil, and the additional focus on female entrepreneurs.

“EIB remains a key investor relationship for EMGA, and we are proud to have helped them increase their presence in Brazil as part of their broader EIB Global strategy,” added Chakkalakal.

Meanwhile, EMGA Managing Director and Head of Operations, Jeremy Dobson expressed pride in continuing the successful collaboration with BTG Pactual and EIB, reinforcing their commitment to arranging financing in Brazil and Latin America.

The EIB finances and invests both through equity and debt solutions and focuses on the areas of climate, environment, small and medium-sized enterprises (SMEs), development, cohesion and infrastructure.

On the other hand, EMGA, with offices in London and New York, helps financial institutions and corporates seeking new debt or equity capital.

-- BERNAMA

ALLIANZ MALAYSIA FINANCIALLY SUPPORTS MISAR'S 2024 FLOOD RELIEF EFFORTS

The MISAR Capsule Relief Guard, launched in 2019 and supported by Allianz Malaysia, is equipped to aid up to 120 people with three mobile toilets, 30 tents, a complete hygiene kit, and a solar-powered digital communication tool with internet connectivity

KUALA LUMPUR, Dec 20 (Bernama) -- Allianz Malaysia Berhad (Allianz Malaysia) via its corporate social responsibility (CSR) arm Allianz4Good, continues to support the Malaysia International Search and Rescue (MISAR) in its ongoing 2024 flood relief efforts. These efforts are focused on providing essential aids to communities across several flood affected states, including Terengganu, Kelantan, Pahang, Negeri Sembilan, and Melaka.

The devastating floods have caused disruption in these affected states and Allianz Malaysia’s contribution aims to alleviate the hardships faced by affected families. By partnering with MISAR, Allianz Malaysia seeks to support the relief efforts, ensuring that crucial resources reach those in urgent need.

Since October 2024, MISAR has been on the ground actively responding to the needs of flood-stricken areas. Their efforts have included the purchasing and packing of relief items, the deploying specialised response teams to affected locations, and distributing essential supplies such as dry food, hygiene products, pillows, towels, and diapers among others. These timely interventions are essential in providing immediate relief to those who have lost everything during the floods.

Head of Allianz4Good, Ng Siew Gek said, “We hope the contribution could provide needed assistance to those affected in flood and accommodates timely recovery.”

Founder of MISAR, Captain K. Balasupramaniam said, “Our commitment and consistency in providing flood relief aids have gained confidence among local communities in flood prone areas and this made our operation effective and successful.”

In addition to its relief support, Allianz Malaysia has been an ongoing partner in various MISAR initiatives throughout 2024. This includes the Public Flood Survival Programme, which educated and prepared 235 participants, aged 17 to 70 years with essential flood survivor knowledge and contributed a brand-new 4x4 Toyota Hilux ambulance that was specifically designed to handle the unique challenges of Malaysia's rugged terrains and flood-prone regions, thus enabling MISAR to access to geographically-challenging locations.

Allianz Malaysia’s continued support to disaster relief reflects its commitment to social responsibility and community support. Through these flood relief initiatives, Allianz Malaysia, together with MISAR, hope to help communities not only recover from this disaster but also build resilience for the future.

SOURCE : Allianz Malaysia Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Shamala Gopalan
Group Head
Corporate Communications Department
Allianz Malaysia Berhad
Tel: 016.285.0685
Email: shamala.gopalan@allianz.com.my

Name: Gary Mark Nagan
Manager
Corporate Communications Department
Allianz Malaysia Berhad
Tel: 012.367.1450
Email: gary.nagan@allianz.com.my

--BERNAMA

SYNOPSYS AND SIMA.AI ANNOUNCE STRATEGIC COLLABORATION TO ACCELERATE DEVELOPMENT OF AUTOMOTIVE EDGE AI SOLUTIONS

Joint Solution to Speed SoC Development for Next-generation ADAS and IVI Applications

SUNNYVALE, Calif. & SAN JOSE, Calif., Dec 18 (Bernama-BUSINESS WIRE) -- Synopsys (Nasdaq: SNPS) and SiMa.ai today announced a strategic collaboration to jointly deliver a new solution for automotive companies to accelerate the development of workload-specific silicon and software needed to power artificial intelligence-enabled features in next-generation automobiles. The solution will combine Synopsys' best-in-class EDA, automotive-grade IP, and hardware-assisted verification solutions with SiMa.ai’s leading machine learning accelerator (MLA) IP and complete ML software stack application development environment for maximum customization of IP, subsystems, chiplets, and SoCs.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20241217056520/en/

Advanced Driver Assistance Systems (ADAS) and In-vehicle Infotainment (IVI) are emerging as key differentiators for automakers with a tremendous diversity in applications. The advent of generative artificial intelligence (GenAI) features in these applications requires artificial intelligence (AI) at the edge to deliver real-time, multi-modal in-car experiences. However, current software-defined vehicle (SDV) architectures are not equipped to support related demands for the diversity of applications and the required compute, performance, and reliability. Automakers need AI-ready, workload-verified, power-efficient software architectures to compete in this new environment. Further, they need hardware-software co-design solutions, from silicon–to–systems, to reduce development costs and de-risk start-of-production timelines.

Synopsys is a trusted partner to the worldwide automotive ecosystem with more than 50 OEMs and Tier 1 suppliers using Synopsys virtual prototyping technologies, and more than 1,000 virtual models developed from SoC IP to board-level ICs and ASICs. SiMa.ai is the software-centric company that specializes in developing high performance, power-efficient machine learning system on chip (MLSoC) solutions for the embedded edge. The SiMa.ai tech stack emphasizes flexibility, offering support for the widest number of models, sensors and applications possible, and automatically optimizes them for peak performance. The integrated Synopsys and SiMa.ai solution will be designed to enable:

• Early architecture exploration: Capability to guide automotive design engineers to optimally-choose performance, power, and software application requirements for custom or 3rd party SoC development.
• Shift-left software development: The solution will be optimized for multi-modal functions and GenAI, as well as to provide an end-to-end workflow including virtual prototyping and emulation to accelerate software/hardware integration and speed time to market.
• Cost-effective and differentiated in-vehicle experiences: Silicon-proven building blocks and subsystems for high-performance automotive ML SoCs and chiplets that are fully customizable to support diverse workloads, integrating SiMa.ai’s leading, easy-to-use ML software and tools.
• Continuous upgradeability of automotive edge AI solutions: Applications with AI capabilities can be developed to support both current and future requirements. In addition, virtual prototypes can be used to develop and test over-the-air updates.

"Our collaboration with SiMa.ai will provide automotive companies a significant step forward in modernizing their hardware/software co-design processes to meet demand for advanced, in-car experiences that are increasingly costly and complex to deliver,” said Ravi Subramanian, head of the Synopsys Product Management and Markets Group. “Our leadership in architecture exploration, IP, and hardware-assisted verification, combined with SiMa.ai’s innovative performance and power-optimized ML capabilities, will enable customers to differentiate while continuing to meet stringent cost considerations and industry standards.”

"Collaborating closely with Synopsys allows us to provide automotive manufacturers with complete, optimized solutions that accelerate their development cycles," said Krishna Rangasayee, Founder and CEO, SiMa.ai. "The SiMa.ai MLSoC platform was designed for best possible performance at lowest power consumption across a diverse set of applications—that was the missing piece in the puzzle to make future cars so much smarter and safer than what we have today. When combined with Synopsys' industry-leading IP and software, we will deliver a powerful foundation for innovation across auto OEMs in autonomous driving and in-vehicle experiences."

Meet with Synopsys and SiMa.ai at CES 2025

Join Synopsys and SiMa.ai at CES 2025, January 7-10, 2025, to learn more about how we are collaborating to transform the development of automotive edge AI solutions. Contact SynopsysAutomotive@synopsys.com to schedule a meeting onsite.

About Synopsys

Catalyzing the era of pervasive intelligence, Synopsys, Inc. (Nasdaq: SNPS) delivers trusted and comprehensive silicon to systems design solutions, from electronic design automation to silicon IP and system verification and validation. We partner closely with semiconductor and systems customers across a wide range of industries to maximize their R&D capability and productivity, powering innovation today that ignites the ingenuity of tomorrow. Learn more at www.synopsys.com.

About SiMa.ai

SiMa.ai is the software-centric, embedded edge machine learning system-on-chip (MLSoC) company. SiMa.ai delivers ONE Platform for Edge AI that flexibly adjusts to any framework, network, model, sensor, or modality. Edge ML applications that run completely on the SiMa.ai MLSoC and Modalix product family see a tenfold increase in performance and energy efficiency, bringing higher fidelity intelligence to ML use cases spanning computer vision to generative AI, in minutes. With SiMa.ai, customers unlock new paths to revenue and significant cost savings to innovate at the edge across automotive, industrial manufacturing, retail, aerospace, defense, agriculture, and healthcare. Learn more at www.sima.ai.

Note: All trademarks and registered trademarks are the property of their respective owners. 

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WUXI SHUOFANG AIRPORT IS DESIGNATED AS A 240-HOUR TRANSIT VISA-FREE PORT IN CHINA

WUXI, China, Dec. 18, 2024 /Xinhua-AsiaNet/--

China further expanded its visa-free transit policy, extending the maximum amount of time foreigners are allowed to stay in the country under the policy to 240 hours from the previous 72 or 144 hours, the National Immigration Administration of China announced on Tuesday. Additionally, 21 ports have been newly added as entry ports for transit visa-free personnel, including Wuxi Shuofang Airport.

Currently, the aviation port in Wuxi has opened 8 international passenger routes to and from cities such as Osaka, Japan; Incheon, South Korea; Nha Trang, Vietnam; Singapore; and Bangkok, Thailand, with an average of 22 international flights per day.

The latest data shows that this year, Wuxi Immigration Inspection Station has inspected over 7,400 inbound and outbound flights, a year-on-year increase of 125%; and over 820,000 personnel, a year-on-year increase of 134%. The number of foreigners entering and exiting through Wuxi has reached over 91,000, a year-on-year increase of 245%. Among them, more than 10,000 foreigners entered without a visa and temporarily transited, 16.4 times more than last year, with tourism and visiting relatives and friends being the main purposes of entry.

At the beginning of this year, Wuxi introduced the "Ten Measures to Facilitate the Entry and Stay of Foreign Nationals in Wuxi," building six scenarios of convenience for foreign nationals, including entry and exit, payment, business work, living travel, consumption, and education and medical care.

After the formal implementation of the 240-hour transit visa-free policy, Wuxi will further improve the customs clearance guarantee services. Specific measures include scientifically adjusting the layout of the entry site, and delineating the transit visa-free procedure processing area. Wuxi will manage and serve the stay of foreigners in China, and coordinate the transition between the transit visa-free policy and port visa requirements. The city will publicize the 240-hour transit visa-free policy in multiple channels and languages, and promote the transit visa-free policy to foreign-funded enterprises, foreign chambers of commerce, travel agencies, and airlines in Wuxi. It will set up entry passenger service stations at entry ports, providing foreigners with services such as scenic spot reservation, mobile card processing, and mobile payment, and continue to facilitate foreigners' study, life, and work in Wuxi.

Source: Wuxi Immigration Inspection Station

--BERNAMA

SME BANK CONTINUES TO EXTEND ASSISTANCE TO FLOOD VICTIMS, POSITIVELY IMPACTING OVER 4,500 BENEFICIARIES IN KEDAH & KELANTAN

KUALA LUMPUR, Dec 18 (Bernama) -- Small Medium Enterprise Development Bank Malaysia Berhad (“SME Bank”) continues to extend assistance to flood victims by activating its second flood relief mission, following SME Bank’s recent announcement to provide immediate assistance to its customers through tailored financing solutions and relief measures.

SME Bank reaffirms its commitment towards uplifting the lives and communities in need by extending support to individuals and families affected by the nationwide flood as part of its Corporate Social Responsibility (“CSR”) initiative, aligning with the Bank’s ESG agenda which is to create lasting impact on society. Under this initiative, SME Bank contributed food baskets and essential items as well as cash assistance to the flood affected victims within these two states.

Datuk Dr. Mohammad Hardee Ibrahim, Acting Group President/Chief Executive Officer of SME Bank said, “As one of the country’s leading development financial institutions (“DFI”) mandated in the value creation of the society, we are aware of the challenges faced by victims of the flood that hit our shores recently. Thus, we heed the Government’s call for all Government agencies and corporations to play a direct role in helping the Rakyat navigate through this difficult situation. Being agile and quick to address this nationwide crisis, we continue to extend the necessary assistance beyond financing by executing our flood-relief CSR initiative in Kedah and Kelantan, benefiting over 4,500 beneficiaries in view of the high number of flood cases in these two states.”

“We are pleased to collaborate with the Jabatan Kebajikan Masyarakat (“JKM”), under the Kedah State Government, where we contributed food baskets and essential items to 400 families within the district of Kubang Pasu, Kedah – comprising over 3,500 beneficiaries in total. Meanwhile, in Kelantan we are providing our support through cash contribution to two (2) primary schools; Sekolah Kebangsaan Teluk Jering and Sekolah Kebangsaan Bendang Pa’Yong, to support post-flood recovery, benefitting 1,000 students.”

“Beyond these, our very own employees were also involved in the preparation and distribution of the food baskets in Kedah, while our employees in Kelantan were involved in the restoration and cleaning of the two affected schools,” Datuk Dr. Mohammad Hardee Ibrahim elaborated.

A handover presentation ceremony was held recently in both states. In Kedah, the ceremony saw Dato’ Muslim Hussain, Chairman of SME Bank and Datuk Dr. Mohammad Hardee Ibrahim in attendance, along with Muhammad Mahazi Ibrahim, District Officer of Pusat Kawalan Operasi Bencana (“PKOB”), Kubang Pasu – the implementing body of JKM Kedah. Meanwhile, in Kelantan, SME Bank was represented by Zabidi Abdullah, Chief Business Officer; Zarina Nor Ismail, Chief Operating Officer and Mohammad Azam Ahmad, Group Chief Risk Officer, along with Zamri Muhammad, Headmaster of Sekolah Kebangsaan Teluk Jering and Roslan Mohamed, Headmaster of Sekolah Kebangsaan Bendang Pa’Yong.

Since 2022, SME Bank has mobilised nearly 20 CSR initiatives amounting to over RM3 million with emphasis on economic empowerment, community development, and environmental preservation, including the Flood Relief Aid for Students in Penampang, Sabah and the ‘Satu Pemimpin Satu Kampung’ (“Santuni Madani”) programme among others.

In addition to these efforts, SME Bank also supports MSMEs by mobilising the Bank Negara Malaysia’s Disaster Relief Facility (“DRF”). This facility offers financing of up to RM700,000 for SMEs and RM150,000 for micro-enterprises, with a competitive rate of 3.5% per annum and a tenure of up to seven years.

For further details on SME Bank’s programs and initiatives, please visit www.smebank.com.my, SME Bank's Facebook page, or contact SME Bank’s Contact Centre at 603-26037700. Please visit https://bit.ly/41BgAwJ.

Issued by:
SME Bank Group Strategic Communication

SOURCE : SME Bank

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Arnee Ismail
Head, Group Strategic Communication
SME Bank
Tel: 03-2615 2954
Email: arnee.ismail@smebank.com.my

--BERNAMA

NIKKEI ONLINE EDITION: FIRST IN JAPAN TO REACH 1 MILLION PAID DIGITAL SUBSCRIBERS

TOKYO, Dec. 16, 2024 /Kyodo JBN/ --

Nikkei Inc. announced on December 10 that the number of paid subscribers to the Nikkei Online Edition has surpassed 1 million, making it the first (*) domestic paid digital news media to achieve this milestone. The recent rapid growth has been driven by increased subscriptions in the corporate and education sectors. Nikkei continues to expand beyond its role as a must-read news provider into becoming a must-use service for an increasingly wider audience.
(*) According to a report by Reuters Institute for the Study of Journalism
( https://reutersinstitute.politics.ox.ac.uk/digital-news-report/2024/japan )
 
The Nikkei Online Edition launched in 2010. Early success was driven by a strong uptake from individual subscribers, but recent years have seen a rapid increase in adoption by corporations and the education sector. Companies are using it as a source of essential information as well as for corporate training, while educational institutions are increasingly turning to it as a resource for inquiry-based learning.
 
In 2024, paid subscriptions to Nikkei Online grew rapidly, increasing by around 100,000 to reach 1.01 million, a 13% gain over December 2023. Meanwhile, the number of paid subscriptions to Nikkei digital media overall, including services such as the "NIKKEI Prime" series, surpassed 1 million in December 2023 and reached 1.17 million as of December this year (2024).
 
Nikkei is the third-largest paid digital news media provider in the world:
Including the English-language media "Nikkei Asia" and the Financial Times (FT) which is part of the Nikkei Group, the total number of the Nikkei Group’s digital paid subscriptions is 3.7 million. This makes it the third-largest digital news media in the world, after the New York Times and Dow Jones, which publishes the Wall Street Journal.
 
About Nikkei
Nikkei Inc. is a world-renowned media brand for Asian news, respected for quality journalism and for being a trusted provider of business news and information. Founded as a market news provider in Japan in 1876, Nikkei has grown into one of the world’s largest media corporations, with 37 foreign editorial bureaus and approximately 1,500 journalists worldwide. Nikkei acquired the UK-based Financial Times in 2015.
 
 
Source: Nikkei Inc.  

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OPPO FIND X8 SERIES ELEVATES FLAGSHIP EXPERIENCES WITH UNMATCHED SERVICES AND TECHNOLOGY

SHENZHEN, China, Dec 16 (Bernama-BUSINESS WIRE) -- On Nov 21^st, OPPO announced the global launch of the latest generation of its flagship smartphones, the Find X8 Series. Featuring comprehensive upgrades in both hardware and imaging, the series also debut ColorOS 15 with its suite of advanced OPPO AI solutions.

This press release features multimedia. View the full release here:
 https://www.businesswire.com/news/home/20241215738873/en/

 

In certain countries where the Find X8 Series is launched, OPPO services offer a comprehensive suite of Premium Services to customers who purchase the device. These include not only a complimentary protection plan at the time of purchase, but also access to exclusive hotlines, exclusive engineers, premium loan phones, and an international warranty service valid worldwide^*.

^*For details on the specific service benefits available to customers purchasing in different countries, please visit the official OPPO Service Center website.

International Warranty Service and Unified Standards for Peace of Mind Across Borders

The OPPO Find X8 Series comes with an international warranty service covering 62 countries and regions. Through the warranty, users who encounter any issues with their phone within the coverage area can visit the nearest official OPPO service center to receive comprehensive support, including professional repairs, device maintenance and software updates.

OPPO services have trained over 12,000 highly skilled customer service representatives and engineers worldwide, ensuring exceptional service capabilities on a global scale. OPPO service centers around the world have adopted unified service standards to provide users with peace of mind and reliable service protection.

Brush Off Everyday Accidents with Worry-free Service

The indispensable role that smartphones play in everyday life means that even minor accidents like screen damage can cause major inconveniences. To ensure a worry-free experience, OPPO services provide free screen protection plan or extended warranty for Find X8 Series owners in markets like Indonesia, Vietnam, and Malaysia.

In select markets where the Find X8 Series is available, OPPO services offer exclusive services designed to enhance the user experience. These include exclusive hotlines, premium lanes at offline service centers with exclusive engineers, and premium loan phones during repairs. On top of this, OPPO services offer free send-in and pick-up repair services in select regions, ensuring the same professional standards as offline service centers. Users can also enjoy a range of thoughtful services, such as device cleaning and maintenance, during both OPPO Service Day and regular visits, for a seamless and worry-free experience. 

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NIKE Renews NFL Deal Through 2038

KUALA LUMPUR, Dec 12 (Bernama) -- NIKE Inc and the National Football League (NFL) have announced a landmark 10-year partnership extension, cementing their commitment to shaping the future of football and driving growth, innovation, and progress across the sport.

Building on 12 years of successful collaboration as the exclusive provider of uniforms and sideline apparel for all 32 NFL teams, Nike is poised to elevate its partnership to new heights, according to a statement.

As part of the renewed partnership, Nike will continue to innovate and provide high-performance products tailored to the evolving needs of NFL players, advancing a new era of excellence and inclusivity in the sport.

NIKE Inc President & Chief Executive Officer, Elliott Hill said this partnership aims to address the changing needs of NFL athletes and fans while fuelling the league's growth and development initiatives.

Meanwhile, NFL Commissioner Roger Goodell expressed excitement about the extended partnership, recognising Nike as a strategic ally in advancing football both domestically and internationally.

“In addition to their products and services for our clubs, players, or fans, Nike is a strategic partner who will help us grow football internationally, support youth football and make advances in player safety,” he said.

The renewed partnership focuses on key initiatives, including global expansion of the sport, player health and safety commitment through Nike's Sport Research Lab, football development programmes at grassroots through collegiate levels, and engaging fans through cutting-edge storytelling and marketing.

Nike and the NFL are committed to finding solutions for athletes who are currently playing the game while simultaneously building a safer, better sport for the next generation.

This renewed agreement demonstrates the strength and commitment of both organisations to work together to drive growth, innovation and fan engagement.

-- BERNAMA

LIVEFREELY ACQUIRES SOMPO HORIZON TO EXPAND AI-POWERED CAREGIVING

Acquisition will enable LiveFreely to expand its product suite with Sompo Horizon’s CareGo solution and drive expansion into the Asia-Pacific region

SAN JOSE, Calif., Dec 13 (Bernama-BUSINESS WIRE) -- LiveFreely Inc., a digital health technology company that empowers seniors and their caregivers to live more freely, connected, and independent lives, today announced the acquisition of Sompo Horizon, a premier caregiving benefits provider and subsidiary of global insurance provider, Sompo Holdings. The acquisition will allow LiveFreely to further scale and integrate its circle-of-care products, including its flagship BUDDY application with Sompo Horizon’s CareGo solution.

LiveFreely’s BUDDY application provides seniors with an AI-driven personal health assistant that provides real-time health monitoring, vitals and code blue alerts, geographic boundary monitoring, and the ability to predict and prevent future falls which is among the leading causes of death among seniors. Paired with Sompo Horizon’s CareGo solution, which provides a comprehensive digital platform, concierge support service, and partner network that enhances the decision-making process for caregivers, today’s acquisition will provide LiveFreely with the ability to expand its digital health technology capabilities to benefit health systems, insurance brokerages, nursing and senior homes, schools, public institutions, individuals, families, and the broader care ecosystem.

“With CareGo, we will be able to unify our digital health technology in BUDDY, creating a one-stop, unified, and AI-enabled care experience,” said Dr. Arthur Jue, CEO and Co-founder of LiveFreely. “We founded this company because of our late father who suffered from falls, and with today’s acquisition, we’re poised to expand our mandate for digital caregiving to service mental health in schools, expand our footprint around the globe, and continue to build our platform to help seniors and caretakers live more freely.”

The new acquisition of Sompo Horizon positions LiveFreely for market expansion, particularly in Japan, which boasts one of the world’s largest caregiving communities, as well as other geographies in the Asia-Pacific region. The acquisition will also allow LiveFreely to scale its technology to address the demand for mental health-related digital solutions in key market segments, which will benefit from its predictive AI technology.

“LiveFreely was founded with a mission to leverage AI and technology to transform the way families monitor seniors, today we are taking our dream to the next level,” said Daniel Jue, CTO and Co-founder of LiveFreely. “Today’s investment will provide us with the necessary means to scale our business and reach the full circle of caregiving, as we look to expand our product suite and our geographic footprint.”

The BUDDY application features mission-critical predictive health capabilities for seniors, enabling AI-driven real-time monitoring of deviations in an individual’s baseline wellness patterns through mass-market smart wearables, including Fitbit. Through this technology, BUDDY notifies caregivers and emergency services if a user’s heart rate rises above or drops below certain thresholds through code blue alerts, bolstering preventative care measures for high-risk users.

“LiveFreely is a proven player in the digital health technology industry, and we could not be more proud to partner with them for this acquisition, said Tetsuya Morito, CEO of Sompo Horizon. “CareGo was designed to streamline caregiving and with LiveFreely’s BUDDY application, the product suite will further elevate the digital health experience for seniors, caregivers, and the healthcare industry ecosystem.” 

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FIVE CHARTS THAT DEFINE THE ENERGY TRANSITION

China continues to lead in energy transition with low carbon power

LONDON and HOUSTON and SINGAPORE, Dec 13 (Bernama-GLOBE NEWSWIRE) -- As the energy landscape rapidly transforms due to decarbonization, electrification, and geopolitical shifts, Wood Mackenzie has released five compelling charts that highlight key trends shaping the sector in the latest Horizons report.

These charts in the report titled ‘Conversation Starters: Five Energy Charts to Get You Talking’ provide valuable insights into the dynamics of energy markets, encompassing everything from the power systems of major economies to the growing adoption of electric vehicles.

“Between the power markets of the U.S. and China, the curious case of the North Sea transition, the towering ambition of CCS and the electrifying rise of EVs, these charts track the wonders of the energy transition in 2025 and beyond,” said author Malcolm Forbes-Cable, Vice President, Upstream and Carbon Management Consulting at Wood Mackenzie.

In the Horizons report ‘Top of the Charts: Five Energy Charts to Make You Think’, each chart was evaluated based on its ‘Wow Factor,’ conversational appeal, industry signpost and dissonance, offers a new lens on the energy transition.

Chinese transport: truly electrifying

China continues to lead the energy transition, in a pathway to source 50% of its power from low-carbon energy including hydro, solar, wind, nuclear, and energy storage by 2028, according to Wood Mackenzie. The report also projects that solar and wind capacity will exceed coal-fired power generation by 2037.

“Never has the world witnessed the pace of growth or transformation of an energy system that China is currently achieving,” said Forbes-Cable. “By 2025, China's installed solar and wind capacity will exceed that of both Europe and North America.”

China’s transport sector is also undergoing a significant transformation. By 2034, battery electric vehicles (BEVs) will dominate passenger vehicle sales, reaching a 66% market share. Combining BEVs and hybrids, EVs will constitute 89% of total sales, according to Wood Mackenzie.

“BEVs are projected to grow by 8% annually through 2030, while sales of internal combustion engine (ICE) vehicles are expected to decline by 11% each year,” said Forbes-Cable. “Wherever you are, Chinese EVs are coming your way.”

U.S. power: data’s growing power habit

Meanwhile in the United States, power demand is also set to grow steadily after years of stagnation, largely due to the Fourth Industrial Revolution and increasing electrification. Key areas driving this demand include data centres, clean technology manufacturing, and the production of renewable energy equipment.

“Power demand is expected to grow by up to 1.9% compound annual growth rate (CAGR) through 2034, highlighting the necessity of accelerating grid modernisation to maintain the U.S.'s competitive edge amid rising global competition, particularly from China,” said Forbes-Cable.

Carbon capture and storage: the ambitions of youth

Juxtaposing the Carbon capture and storage (CCS) capacity with LNG production creates an interesting illustration of the scale of the ambition for CCS. This chart is not drawing equivalence between the two industries but compares the growth of two large industrial systems handling gas in a cooled liquid state.

“Even in the delayed energy transition scenario, CCS capacity is expected to be three times greater than LNG supply volumes by 2050, while in the base case, it will be four times greater. This will require impressive growth rates!” said Forbes-Cable.

North Sea energy: the tortoise and the hare

The North Sea, once a significant source of oil and gas, was at the vanguard of the offshore wind sector. This chart plots oil and gas against offshore wind by quantifying the cumulative final energy output. Currently, the offshore wind capacity stands at 36 gigawatts (GW) and is projected to exceed 240 GW by 2050. Even so it will be past the end of the century before offshore winds cumulative energy output surpasses oil and gas.

Forbes-Cable said, “Having spent a number of years on rigs in the North Sea and experienced the awesome nature of the weather I was always curious as to the energy output from above and below the sea.”

North Sea cumulative final energy output of oil and gas versus offshore wind

Note: Beyond 2050, for the purposes of finding the intersection, it has been assumed that offshore wind power output grows by 2% annually.

For further information please contact:

Mark Thomton

+1 630 881 6885

Mark.thomton@woodmac.com

Hla Myat Mon
+65 8533 8860

hla.myatmon@woodmac.com

The Big Partnership (UK PR agency)

woodmac@bigpartnership.co.uk

About Wood Mackenzie
Wood Mackenzie is the global insight business for renewables, energy and natural resources. Driven by data. Powered by people. In the middle of an energy revolution, businesses and governments need reliable and actionable insight to lead the transition to a sustainable future. That’s why we cover the entire supply chain with unparalleled breadth and depth, backed by over 50 years’ experience in natural resources. Today, our team of over 2,000 experts operate across 30 global locations, inspiring customers’ decisions through real-time analytics, consultancy, events and thought leadership. Together, we deliver the insight they need to separate risk from opportunity and make bold decisions when it matters most. For more information, visit woodmac.com.

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SOURCE: Wood Mackenzie

--BERNAMA

LIVEFREELY ACQUIRES SOMPO HORIZON TO EXPAND AI-POWERED CAREGIVING

Acquisition will enable LiveFreely to expand its product suite with Sompo Horizon’s CareGo solution and drive expansion into the Asia-Pacific region

SAN JOSE, Calif., Dec 13 (Bernama-BUSINESS WIRE) -- LiveFreely Inc., a digital health technology company that empowers seniors and their caregivers to live more freely, connected, and independent lives, today announced the acquisition of Sompo Horizon, a premier caregiving benefits provider and subsidiary of global insurance provider, Sompo Holdings. The acquisition will allow LiveFreely to further scale and integrate its circle-of-care products, including its flagship BUDDY application with Sompo Horizon’s CareGo solution.

LiveFreely’s BUDDY application provides seniors with an AI-driven personal health assistant that provides real-time health monitoring, vitals and code blue alerts, geographic boundary monitoring, and the ability to predict and prevent future falls which is among the leading causes of death among seniors. Paired with Sompo Horizon’s CareGo solution, which provides a comprehensive digital platform, concierge support service, and partner network that enhances the decision-making process for caregivers, today’s acquisition will provide LiveFreely with the ability to expand its digital health technology capabilities to benefit health systems, insurance brokerages, nursing and senior homes, schools, public institutions, individuals, families, and the broader care ecosystem.

“With CareGo, we will be able to unify our digital health technology in BUDDY, creating a one-stop, unified, and AI-enabled care experience,” said Dr. Arthur Jue, CEO and Co-founder of LiveFreely. “We founded this company because of our late father who suffered from falls, and with today’s acquisition, we’re poised to expand our mandate for digital caregiving to service mental health in schools, expand our footprint around the globe, and continue to build our platform to help seniors and caretakers live more freely.” 

http://mrem.bernama.com/viewsm.php?idm=50010

Millennials, Gen Z to Drive Global Beauty Market Growth, Says Generational Report

KUALA LUMPUR, Dec 10 (Bernama) -- Millennials are expected to lead global beauty spending, contributing US$193 billion, followed closely by Gen Z at US$158 billion, as unveiled in NielsenIQ (NIQ)'s new report forecasting the future of the global beauty market over the next decade. (US$1=RM4.42)

In collaboration with World Data Lab and SPATE, the comprehensive generational report highlights generational shifts in beauty preferences, spending, and behaviours, with Millennials and Gen Z at the forefront of growth.

The overall beauty market is projected to reach US$1.1 trillion, with an additional US$700 billion in growth by 2034, driven in large part by Asia, which will account for US$310 billion, according to a statement.

NIQ Beauty, Vice President, Claire Marty emphasised the importance of understanding generational differences to navigate this rapidly evolving industry, while brands are encouraged to move beyond a “one size fits all” approach and use data to address the specific needs and values of each generation.

The study revealed that Millennials, born between 1977 and 1995, will dominate beauty market growth in the next decade, surpassing Gen X as the leading spenders by 2034, representing 24 per cent of spending globally. Their spending is focused on skin and hair care, with a preference for natural ingredients in their beauty routine.

Millennials are also significantly influenced by TikTok trends, with #makeupover30 and emerging topics like Beef Tallow usage gaining traction. In terms of beauty services, Millennials in Europe are expected to allocate 57 per cent of their budgets to beauty services by 2034. 

Meanwhile, Gen X, born between 1965 and 1980, will be the largest beauty spenders through 2034, with their spending set to increase by $150 billion. This generation is highly engaged across beauty categories, especially skincare, which will see the fastest growth at 4.9 per cent year over year (US$26.8 billion).

Gen X consumers tend to prioritise convenience, often shopping at one-stop locations, while also increasingly active on TikTok, with popular hashtags like #over40makeup.

The report underscores the importance of digital trends on platforms, revealing shifts in consumer behaviour and preferences. Both Millennials and Gen Z are placing greater emphasis on sustainability, with Millennials prioritising environmental impact and Gen Z seeking products that promote social equality.

NielsenIQ’s “Beauty Futures” report offers a detailed analysis of global beauty consumers, covering market projections, generational purchasing drivers, and emerging trends.

-- BERNAMA

PUTRA BUSINESS SCHOOL CELEBRATES GRADUATES AND HIGHLIGHTS HUMAN GOVERNANCE EXCELLENCE AT 2024 CONVOCATION

 

Putra Business School (PBS) Chancellor, His Highness the Crown Prince of Selangor, Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj, at the 2024 PBS Convocation Ceremony

SERDANG, Dec 9 (Bernama) -- The Putra Business School (PBS) Convocation Ceremony, an annual, jubilant event commemorating the most significant milestone of every PBS student was successfully held on Sunday. 204 graduates from the MBA, Postgraduate Certificate in Business Administration, PhD, and MSc Programmes were conferred their degrees by the Chancellor, His Highness the Crown Prince of Selangor, Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj at the Pusat Kebudayaan Dan Kesenian Sultan Salahuddin Abdul Aziz Shah, Universiti Putra Malaysia (UPM).

YM Dato’ Syed Haizam Hishamuddin Putra Jamalullail, Chairman of Yayasan Putra Business School Board of Directors, and Prof. Dr. Azmawani Abd Rahman, FASc, PBS President & Chief Executive Officer were among distinguished personalities present for the celebration.

His Highness Tengku Amir expressed his pride to PBS’ graduates. “Such an accolade is an acknowledgment of the entire Putra Business School community — from faculty members to students, and from industry partners to accomplished alumni.”

“This year, Putra Business School’s MBA programme was once again recognised as the best in the region by the QS Global MBA Rankings, placing 23rd in Asia. This achievement highlight our graduates’ diversity, employability, entrepreneurship, and thought leadership.” Mentioned Prof. Dr. Azmawani in her speech.

She further aspires that through PBS’ international The Association to Advance Collegiate Schools of Business and THE ALLIANCE ON BUSINESS EDUCATION AND SCHOLARSHIP FOR TOMORROW a 21st century organization-accredited, value-driven teachings supported by industry partnerships with Chartered Management Institute, UK; Institute of Marketing Malaysia; Malaysian Institute of Chartered Secretaries and Administrators; Financial Planning Association of Malaysia; Malaysian Institute of Human Resource Management; and the International Supply Chain Education Alliance Malaysia, graduates continue to innovate with industry demands while fostering a sustainable, inclusive, and ethical business environment.

A ceremonial highlight was the presentation of awards to outstanding graduates of the Class of 2024. The categories were President’s Award, Human Governance Award, Graduate-on-Time Award, Gold and Silver academic Awards, and the PBS Partners’ Awards.

“These experiences have not only enhanced our academic journey but also shaped our personal growth, providing us with different perspectives on life and invaluable lessons that we will carry on forward.” Suphasan Boonratana, the 2024 Graduates’ Representative, reflected as part of PBS’ community and former President of the Putra Student Association. “Let us strive to make a positive impact in our respective fields and communities.”

The ceremony also unveiled a new PBS logo by His Highness Tengku Amir. “It is a symbol of the growth, transformation, and excellence that defines this institution. This upgraded logo embraces not only our unique identity but also the strong partnership we espouse with UPM. I look forward to the many outstanding feats Putra Business School and its graduates will achieve in the years to come.”

SOURCE: Putra Business School (PBS)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Ms Siti Badarny Hassan
Tel: 019-2194287
Email: badarny@putrabs.edu.my

--BERNAMA

Hong Kong to Ring in 2025 with Spectacular New Year Countdown Fireworks, Live Performances

KUALA LUMPUR, Dec 10 (Bernama) -- Hong Kong is set to light up the sky with a breathtaking New Year countdown fireworks display on Dec 31, as the world prepares to bid farewell to 2024.

This annual tradition has become a hallmark of the city’s festive spirit, drawing locals and visitors alike to the iconic Victoria Harbour for an unforgettable night of celebration and joy to welcome another journey around the sun, according to a statement.

Adding an unparalleled level of energy to the festivities, Crash Adams, a hit Canadian pop music duo from Toronto, will join the stage of Hong Kong countdown celebrations for the first time together with performances of local artists.

Guided by the theme ‘The Symphony of Happiness’, the fireworks display reflects the vibrancy and resilience of life in Hong Kong, delivering a powerful message to take into the new year, whereby attendees can expect a rich tapestry of colours and dynamic shapes inspired by the essence of life.

Beginning at the stroke of midnight and unfolding over 12 spectacular minutes, the fireworks display encompasses five distinct movements, namely Fire, Earth, Wood, Water, and Metal, each representing a vital element of existence.

Meanwhile, the grand finale, Light of Future (metal) will see bright multi-hued fireworks and iridescent clouds light up Victoria Harbour, embodying a courageous spirit for a shining future in the year ahead.

In addition, the stunning show will feature pyrotechnic effects launched from prominent rooftops along the skyline. This multi-layered approach ensures that the entire harbour is alive with colour and sound, creating an immersive atmosphere that will resonate throughout the city.

As part of the festivities, pre-show pyro-shooting stars and a giant countdown clock at the Hong Kong Convention and Exhibition Centre will further add to the excitement as the city celebrates the start of 2025.

-- BERNAMA

AM BEST AFFIRMS CREDIT RATINGS OF SINGAPORE REINSURANCE CORPORATION LIMITED

SINGAPORE, Dec 9 (Bernama-BUSINESS WIRE) -- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Singapore Reinsurance Corporation Limited (Singapore Re) (Singapore). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Singapore Re’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. In addition, the ratings factor in rating enhancement from the company’s ultimate parent, Fairfax Financial Holdings Limited (Fairfax) [TSX: FFH].

Singapore Re’s balance sheet strength is underpinned by risk-adjusted capitalisation that is expected to remain at the strongest level over the medium term, as measured by Best’s Capital Adequacy Ratio (BCAR). The company’s investment portfolio is focused on cash, deposits and fixed-income securities, albeit with some exposure to higher-risk asset classes such as equities. Singapore Re strategically utilises retrocession to increase its underwriting capacity and manage exposure to catastrophe accumulations and large single risks. The credit quality of the retrocession panel remains excellent, with the majority of reinsurance recoverables held with highly rated counterparties. Additionally, Singapore Re benefits from good financial flexibility due to the support provided by Fairfax.

Singapore Re’s operating performance is assessed as adequate, supported by robust underwriting results and positive investment returns. Historically, Singapore Re’s underwriting performance has shown volatility due to competitive market conditions and elevated natural catastrophe activity; however, this has improved in recent years, driven by favourable claims experience and increased business growth. In 2023, the company recorded an operating profit of SGD 7.3 million, down from SGD 48 million recorded one year prior. This decline was primarily due to a change in the premium recognition basis under IFRS 17, resulting in a one-off reserve adjustment, which was partially offset by higher net investment income. The company’s year-to-date 2024 operating results have normalised and returned to targeted profitability. Singapore Re’s investment income, which comprises mainly interest and dividend income, continues to provide a sizable contribution to overall earnings. Prospectively, AM Best expects Singapore Re’s operating performance to remain at the adequate level, supported by robust business growth while maintaining prudent underwriting discipline.

AM Best assesses Singapore Re’s business profile as limited. Singapore Re is a modest-sized non-life reinsurer based in Singapore, writing treaty and facultative business mainly in Asia and the Middle East. Geographic diversification is provided by operations spanning Asia and the Middle East, with Singapore and India being the company’s two largest markets, based on 2023 gross premium written. A partially offsetting factor is the company’s elevated cedant concentration risk; however, this risk is partly mitigated by the fact that some of its largest cedants are companies within the Fairfax group or affiliates and others that have long-standing relationships.

The rating enhancement from Fairfax factors in explicit and implicit support from the group, including access to shared resources and services across various business functions. Despite Singapore Re’s operations accounting for a small component of Fairfax’s consolidated revenue and earnings, the company is considered strategically important to the group’s international expansion strategy and provides access to local and regional business.

Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: 
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Contact

Sin Yee Chuah, CFA
Senior Financial Analyst
+65 6303 5022
sinyee.chuah@ambest.com

Victoria Ohorodnyk
Director, Analytics
+65 6303 5020
victoria.ohorodnyk@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com


Source : AM Best

ENCORP KLASIK RUN CONCLUDES SHAH ALAM HARI TANPA KENDERAAN 2024 ON A HIGH NOTE

The flag-off ceremony for the Encorp Klasik Run 2024 at Dataran Kemerdekaan Shah Alam saw the participation of 3,000 enthusiastic runners.

SHAH ALAM, Dec 9 (Bernama) -- The ENCORP Klasik Run brought together over 3,000 participants from diverse backgrounds, concluding the 2024 Shah Alam Hari Tanpa Kenderaan (SAHTK) with a vibrant showcase of community spirit. Organized for the first time by ENCORP in partnership with the Shah Alam City Council (MBSA), the 5km fun run embraced a classic era theme, bringing the community together in a joyous celebration of unity and nostalgia.

The ENCORP Klasik Run was officially flagged off by the Mayor of Shah Alam, Y.Bhg Dato’ Haji Mohd Fauzi Mohd Yatim, alongside ENCORP’s Officer-In-Charge/ Group Chief Financial Officer, Encik Kamarul Azman bin Kamarozaman@ Amir. The event also included runs hosted by Rakan Muda, Larian Santai Hari OKU Sedunia and the Malaysian Crime Prevention Foundation, culminating in a total of nearly 6,000 participants, further reflecting the vibrant spirit of togetherness.

Participants embraced the theme with creativity, donning traditional and classic attire, while soaking in the nostalgic ambiance complemented by classical music throughout the event. Finishers were awarded commemorative medals and excitement peaked with a best-dressed competition offering attractive prizes including gift hampers and electrical goods. A highly anticipated lucky draw further thrilled attendees, with a range of enticing prizes up for grabs.

Side activities, ranging from entertainment performances to children’s games and promotional booths creating a vibrant community gathering.

ENCORP management expressed appreciation for the enthusiastic response to the fun run event, highlighting the significant turnout of over 3,000 participants, ENCORP emphasized that the success of the inaugural Encorp Klasik Run is a reflection of the company's ongoing commitment to promoting a healthy lifestyle while bringing the community together.

Looking ahead to ENCORP’s 25th anniversary next year, management noted that this event exemplifies the company’s vision of going beyond merely building homes. ENCORP is commited to fostering thriving communities and the collaboration with MBSA has played a pivotal role in reinforcing this dedication. The event also provided an opportunity for ENCORP to showcase the Tilia project, which marks the final phase of the Encorp Cahaya Alam township development.

Launched in 2004, Encorp Cahaya Alam is a 210-acre leasehold project that is a joint venture between Encorp Berhad and the Selangor State Development Corporation (PKNS). With a Gross Development Value (GDV) of around RM1 billion, this township has become one of Shah Alam’s key residential areas, offering modern homes.

The Tilia project, marking the final phase, features 112 units of two-storey superlink homes with land sizes of 24 x 80 feet and offering spacious built-up areas ranging from 2,408 to 3,131 square feet. With prices starting at RM966,000, Tilia completion is anticipated in the fourth quarter of 2025.

About Encorp Berhad (ENCORP)
(Ticker: ENCORP/6076), ENCORP is principally an investment-holding company. For more information, visit encorp.com.my

SOURCE: Encorp Berhad (ENCORP)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Saidah Umairah Binti Zul Azki
Tel: 03-6286 7634 / 017 684 0824
Email: umairah@encorp.com.my

--BERNAMA