Inovatif

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  • EXIM Bank Leads Efforts to Foster Economic Ties Between Malaysia and Djibouti

     

    Export-Import Bank of Malaysia Berhad (“EXIM Bank”) announced today a country dialogue with Djibouti under the newly formed “Malaysia Global Connect” platform. The platform aims to foster dialogue, collaboration and knowledge sharing on critical topics shaping the world of international trade. The Malaysia-Djibouti talk included a briefing by the Director General of Djibouti National Investment Promotion Agency (NIPA), a talk by Chairman of Waafi Bank about business opportunities in Djibouti and a briefing by EXIM Bank’s Chief Business Officer on the Bank’s Trade Finance Solutions.  MATRADE presented the reality of doing business with Djibouti together with the honest discussion with Malaysian participants by MATRADE. Attended by over 50 export-ready companies, this initiative underscores EXIM Bank’s commitment in facilitating international trade and economic growth.

    This initiative is a collaboration with Malaysia External Trade Development Corporation (MATRADE) with the aim to strengthen Malaysia’s presence in international markets through targeted trade promotion activities, capacity building, and market access support. The collaboration leverages MATRADE’s extensive global network and EXIM Bank’s financial expertise to provide comprehensive support to Malaysian exporters and investors.

    EXIM Bank President and Chief Executive Officer Arshad Ismail stated: “We are excited about the Malaysia – Djibouti Business Forum as it aligns perfectly with our mission to promote Malaysia’s trade interests globally. Africa, with its dynamic economies and emerging markets, presents an array of opportunities for Malaysian businesses. EXIM Bank is committed to assisting Malaysian enterprises in their quest for success in Djibouti and beyond.”

    MATRADE Senior Director, Mr. Amran Yem stated: “Through this collaboration with MATRADE, we aim to provide holistic support to Malaysian exporters, enabling them to tap into new markets, establish international partnerships, and contribute to Malaysia’s economic growth is aligned with the agenda of National Trade Blueprint (NTBp).

    EXIM Bank has consistently played a pivotal role in enhancing Malaysia’s global trade footprint. With a focus on fostering partnerships and supporting international trade ventures, the Bank has been instrumental in connecting Malaysian businesses with the world, by fostering dialogue, collaboration and knowledge sharing on critical topics shaping the world of international trade.

    The country dialogue provides a briefing about the Malaysia – Djibouti Business Forum that is scheduled to take place in Djibouti on 29 to 30 November 2023. It will bring together key stakeholders, including government officials, business leaders, and industry experts, to discuss strategies for enhancing bilateral trade relations and investment prospects. The forum will deliver a special address by Djibouti’s Minister of Economy and Finance, the Chamber of Commerce and also a presentation from the Ports and Free Zones Authority.

    The Malaysia – Djibouti Business Forum is set to be a milestone event, showcasing MATRADE and EXIM Bank’s commitment to nurturing trade and economic relations between Malaysia and Djibouti. As Malaysia continues to expand its global footprint, EXIM Bank stands as a key facilitator, offering tailored financial solutions and comprehensive support to empower Malaysian businesses in their international endeavours.

    Any companies interested to attend the Malaysia – Djibouti Business Forum in Djibouti from 29 to 30 November 2023, can register their interest with EXIM Bank Malaysia at https://forms.office.com/r/upRPv6EJjC.

  • Maybank Asset Management Collaboration with BNP Paribas Asset Management launched the MAMG Green Tigers Fund

     

    Maybank Asset Management (“MAM”), fully owned by Maybank Asset Management Group (“MAMG”), in collaboration with BNP Paribas Asset Management, expanded its Environmental, Social and Governance (ESG) product offerings with the launch of the MAMG Green Tigers Fund (“the Fund”), a qualified Sustainable and Responsible Investment (SRI) fund under the SC’s Guidelines on Sustainable and Responsible Investment Funds.

    The Fund is a feeder fund that aims to achieve capital growth by investing in the BNP Paribas Funds Green Tigers (“the Target Fund”). The Target Fund seeks to achieve sustainable returns over the longer term by investing in fast growing and innovative Asia-Pacific companies providing disruptive environmental solutions.

    Ahmed Muzni Mohamed, Chief Executive Officer of Maybank Asset Management said, “We had a great collaboration with BNP Paribas Asset Management last year with the launch of MAMG Global Environment Fund, and we are happy to add the MAMG Green Tigers Fund to our suite of ESG/ Sustainable and Responsible Investment (SRI) funds.

    This Fund comes at a critical but opportune moment in Asia as rapid urbanisation, constrained resources, supportive government sustainability policies and demand for industrial efficiencies are driving support for sustained investment in the Asian Environmental Market.

    With the MAMG Green Tigers Fund, local investors can gain exposure to the six (6) environment market themed equities, generate sustainable and reliable returns whilst adhering to ESG regulations. Furthermore, the Fund is aligned with the UN Sustainable Development Goals (SDGs) which are clean water and sanitation; affordable and clean energy; industry, innovation and infrastructure; sustainable cities and communities; and responsible consumption and production*,” Muzni says.

    Daniel Choong, Chief Executive Officer of BNP Paribas Asset Management Malaysia added, “Our future is being shaped by powerful long-term trends. Half of the world’s GDP is dependent on our precious natural resources, and this is exacerbated by our consumption rate which is 1.75 times faster than the earth’s ability to regenerate itself. Moreover, global population growth and rising income have resulted in an urgent need to restore damaged ecosystems. These challenges bring out significant investment opportunities in Asia-Pacific environmental thematic markets.

    The financial sector has a critical role to play in creating a positive environmental impact and we are proud to have jointly launched the MAMG Green Tigers Fund with Maybank Asset Management.  This fund aims to take advantage of resources targeted at long-term growth through investments in Asia-Pacific companies that are focused on designing cutting-edge solutions within the environmental markets including renewable energy, circular economy, and sustainable food and agriculture.

    We are glad to bring our innovative thematic solutions to a reputable player like Maybank Asset Management, while meeting investor requirements for financial returns combined with a positive environmental impact.”

    Why Invest in MAMG Green Tigers Fund

    The Fund seeks to gain exposure to the full spectrum of opportunities within Asian equities, focusing predominantly on fast growing and disruptive companies providing environmental solutions, via the Target Fund. The Fund will invest a minimum of 90 per cent of its net asset value in the Target Fund, suitable for investors who seek potential medium to long term capital appreciation; and are willing to tolerate the risks associated with investing in the Target Fund.

    The base currency of the Fund is in USD and is offered in five (5) currency classes, namely USD Class, MYR Class, MYR-Hedged Class, AUD-Hedged Class and SGD-Hedged Class. The minimum investment amount is USD1,000 for USD Class, RM1,000 for MYR and MYR-Hedged Class, AUD1,000 for AUD-Hedged Class and SGD1,000 for SGD-Hedged Class.

    The MAMG Green Tigers Fund is available exclusively at MAM’s authorised distributors’ branches nationwide. For more information, visit https://www.maybank-am.com.my

  • Russian Energy Week 2023: Restructuring the global oil market in terms of trade and logistics

     

    The Russian Energy Week International Forum (REW 2023) will be held in Moscow from 11-13 October. The participants will discuss the prospects for energy cooperation between Russia and the world’s largest emerging economies including China, India, and the African countries. One of the key topics of the upcoming Forum is the impact of the restructuring of transportation and logistics corridors on the global energy sector.

    The structural change is on the way

    “The global oil trade is undergoing a major structural change. Middle Eastern countries, which used to play an important role in providing commodities to the growing economies of East Asia, are now increasing their oil supplies to Europe. In turn, Russia has sharply increased its oil exports to India, China, and some other Asia Pacific countries. Additionally, Latin American countries, including Brazil and Guyana, with a commensurate shipment distance to Europe and Asia Pacific countries, are playing an increasing role in the oil market,” said Adviser to the President of the Russian Federation and Executive Secretary of the REW 2023 Organizing Committee, Anton Kobyakov.

    The shifts in the oil market impacts its future

    Stating that the global oil market continues to try to adapt to the current geopolitical events, “Russian oil, despite the restrictions imposed, enters various markets with a changed price structure. Logistics have become more complicated and expensive, as oil tankers have to travel long distances to deliver raw materials and petroleum products. The impact of these shifts on the future of the oil market will be one of the most important topics of the upcoming Russian Energy Week,” Kobyakov added.

    Almost half of the supply goes to 3 countries

    The largest importers of Russian refined products in August 2023 were Turkey, India, and the UAE. These three countries accounted for 46% of marine supplies from the Russian Federation (1.04 million out of 2.27 million b/d). The role of Brazil, China and Malaysia is becoming increasingly significant: These regional consumers accounted for a total of 18% (397,000 b/d) of the total structure of Russian oil products supplies.

    Singapore, which is actively developing its oil product hub, accounted for another 7% of the Russian Federation’s refined products shipments (152,000 b/d) in August. Greece and Malta

    also play a notable role: Transshipment of petroleum products takes place in the territorial waters of these EU countries, making the total share of these countries in exports in August of 2023 8% (191 b/s).

    Logistics flows to be restructured

    “The restructuring of logistics flows is not just a beautiful slogan, but a solid fact. For example, in August 2023, the top 20 leading importers of petroleum products from the Russian Federation included 9 African countries: Algeria, Ghana, Egypt, Libya, Morocco, Nigeria, Senegal, Tunisia, and Togo. The volume of marine supplies of petroleum products from Russia to these countries reached 411 thousand barrels per day (b/d), and their share in the structure of Russian exports amounted to 18%,” says Igor Yushkov, an expert from the REW Energy Club.

    In general, according to Igor Yushkov, the volume of offshore supplies of oil products from Russia has decreased by about 780,000 b/d over the past few months. This is primarily due to Russia’s commitments to reduce oil production under the OPEC+ deal.

    Supported by the Moscow City Government, the Russian Energy Week International Forum is organized by the Ministry of Energy of the Russian Federation and the Roscongress Foundation, which is a socially oriented non-financial development institution and a major organizer of conventions, exhibitions and business, public, youth, sporting, and cultural events.

  • Geno Asia Unveils Micropur TDCA Sprayer at Agri Malaysia 2023, Promising 75% Labor Cost Reduction

    Geno Asia, a prominent figure in the agricultural industry, took center stage at Agri Malaysia 2023 by unveiling its groundbreaking innovation, the Micropur TDCA Sprayer. This game-changing technology provides a glimpse into the future of efficient and sustainable agriculture, promising to reshape herbicide application practices in Malaysia’s oil palm sector.

    The Micropur TDCA Sprayer stands out with its remarkable capability to reduce labor costs by an astounding 75%. In the context of mature oil palm weed control, it outperforms conventional knapsack sprayers (CKS) by delivering four times the efficiency. This impressive feat is achieved by significantly minimizing the volume of water required for herbicide spraying.

    Revolutionary Micropur TDCA Sprayer

    Lai Seow Pheng, the Managing Director of Geno Asia, emphasized the significance of this innovation for Malaysia’s oil palm industry. He stated, “The Micropur TDCA Sprayer represents a game-changer for our local farmers and the entire oil palm sector. It not only enhances productivity but also aligns perfectly with our commitment to sustainability and resource conservation. As the sole distributor in Malaysia for this innovative product, we believe it will make a lasting impact on agriculture in the country.”

    Geno Asia’s active participation in Agri Malaysia 2023 showcased its dedication to introducing cutting-edge solutions to the agricultural sector. The exhibition, attended by 10,000 people and featuring over 450 exhibitors, provided a pivotal platform for industry leaders and stakeholders to explore the latest innovations. The event highlighted advanced technologies and sustainable farming practices, fostering knowledge exchange and collaboration. It is recognized by the Malaysia External Trade Development Corporation (MATRADE) for meeting international standards.

    “As Malaysia’s oil palm industry prepares to embrace the transformative potential of the Micropur TDCA Sprayer, the nation’s agriculture sector will become more efficient, with significant cost reductions and an unwavering commitment to sustainability,” enthused Lai.

    For more information about Geno Asia and the revolutionary Micropur TDCA Sprayer, please visit www.genoasia.com.

  • The Far-Reaching Impact of Inflation

     

    In an era of rapidly evolving economies and financial landscapes, the term ‘inflation’ has become a constant companion in financial dialogues. The global economy is in a perpetual state of flux, and understanding the manifold effects of inflation has become necessary in safeguarding our financial interests and aspirations.

    CAUSE AND IMPACT OF INFLATION
    Inflation’s genesis lies in the interplay of various factors. It can be spurred by increased demand, supply constraints, or external shocks. It impacts economies by distorting price signals, complicating long-term planning, and introducing volatility.

    For individuals, the ripple effects of inflation are deeply personal. Imagine the struggles of a family trying to maintain the same quality of life as costs rise. Retirement planning becomes more complex as the purchasing power of savings diminishes. The challenges are real, and the necessity of informed financial decision-making cannot be overstated.

    In recent years, Malaysia has grappled with inflationary pressures, influenced by global economic shifts and internal dynamics. Rising fuel and commodity prices, coupled with supply chain disruptions have contributed to a higher cost of living for Malaysians.

    Inflation is as violent as a mugger, as frightening as an armed robber, and as deadly as a hitman.” — Ronald Reagan

    SMALL BUSINESSES: WEATHERING THE STORM OF INFLATION
    The tumultuous waters of inflation often hit small businesses the hardest. While larger corporations might have the resources to cushion the impact, small businesses are more vulnerable due to their constrained budgets and limited pricing flexibility. When costs rise due to inflation, small business owners face the difficult decision of whether to pass on these increased costs to customers, potentially risking a decline in sales, or to absorb the costs themselves, potentially eroding their profit margins.

    Imagine a local bakery that relies on purchasing ingredients like flour, sugar, and butter. As the prices of these essentials rise, the bakery faces a conundrum. Passing on the increased costs to customers might lead to fewer purchases, as customers tighten their belts in response to rising prices. Alternatively, the bakery might choose to maintain prices, absorbing the increased costs, which could threaten its long-term sustainability.

    CORPORATIONS: DANCING WITH INFLATION ON A GLOBAL STAGE
    At the other end of the spectrum, multinational corporations must navigate the dynamics of infl ation across various countries and regions. In Malaysia, as inflation exerts its influence, these corporations face the challenge of aligning global strategies with local market conditions. Rising inflation in Malaysia can
    impact the cost of production, the price of goods, and the overall economic landscape.

    Consider a multinational technology company with operations in Malaysia. Inflation can lead to higher wages for local employees, increased costs for raw materials, and potential disruptions in the supply chain. To maintain profitability and competitiveness, the company must find a delicate balance between managing costs and delivering value to customers.

    STATISTICS SPEAK LOUDER THAN WORDS
    The impact of inflation is not merely a theoretical concept— it’s a reality backed by data. In Malaysia, statistics from recent years paint a vivid picture. Inflation rates, often measured by the Consumer Price Index (CPI), can provide insights into the extent of price increases. For instance, in 2021, Malaysia witnessed an average inflation rate of around 2.7%, a noticeable uptick from the previous year.

    Additionally, rising fuel and commodity prices have contributed significantly to Malaysia’s inflationary pressures. The World Bank reported that the average price of crude oil increased by more than 50% from mid-2020 to mid-2021. This uptrend in commodity prices can create a domino effect, impacting various sectors of the economy and ultimately trickling down to consumers.

    The impact of inflation is not merely a theoretical concept — it’s a reality backed by data.”

    A POWERFUL PERSPECTIVE
    Inflation’s impact is far-reaching and multi-dimensional, affecting individuals, businesses, and entire nations. Its effects on purchasing power, investment decisions, and economic stability are undeniable. Malaysia’s experience with inflation underscores the challenges faced by small businesses and corporations alike, reminding us that adaptation and resilience are key in turbulent economic times.

    As we navigate the currents of inflation, the wisdom of Ronald Reagan’s words holds true: inflation is a formidable adversary. To thrive in its presence, we must equip ourselves with knowledge, foresight, and a willingness to adapt. Inflation might be a force to be reckoned with, but armed with understanding, we can turn its challenges into opportunities for growth and innovation.

    THE FIVE EFFECTS OF INFLATION
    Inflation is no one-trick pony; its effects reverberate across various domains of the economy. From the wallet in our pocket to the boardrooms of multinational corporations, its impacts are undeniable:

    1. Purchasing Power Erosion
    Inflation gnaws away at the purchasing power of money. As prices climb, the same amount of money buys fewer goods and services. This translates into a diminished standard of living for individuals and families.

    2. Income Redistribution
    Inflation often redistributes wealth, sometimes in unexpected ways. Those who hold assets like real estate and stocks might witness their values surge, while those relying on fixed incomes, like retirees, find their purchasing power dwindling.

    3. Uncertainty in Investment
    Inflation generates economic uncertainty that affects investment decisions. Investors tend to seek protection against rising prices, thus adjusting their portfolios to include more inflation-resistant assets like commodities and inflation-indexed bonds.

    4. Interest Rate Fluctuations
    Central banks respond to inflation by adjusting interest rates. Higher inflation can lead to higher interest rates, which affects borrowing costs for businesses and individuals alike, potentially curbing spending and economic growth.

    5. International Competitiveness
    Inflation can influence exchange rates, impacting a nation’s international competitiveness. A depreciating currency might boost exports but also lead to higher costs for imported goods, affecting trade balances.

  • Trust In Transition: Ensuring Legacy Security Amidst Blended Family Dynamics

    In the intricate tapestry of family dynamics, Claire’s concerns (as you will read in the below true story) resonate with a challenge that many families face: the delicate balance between love and the protection of hard-earned assets. As we delve into Claire’s story, it becomes evident that estate planning and the establishment of trusts play pivotal roles in addressing these concerns, especially within the context of Malaysian law.

    This narrative serves as a poignant reminder of the importance of estate planning in safeguarding familial harmony and preserving financial legacies. In the context of Malaysia, where familial relationships are deeply intertwined with traditional values, the concept of estate planning takes on even greater significance.

    Within Malaysia’s legal framework, several statutes underscore the significance of estate planning and trusts. The Wills Act 1959 governs the creation and execution of wills, allowing individuals like Claire to stipulate the distribution of their assets upon their passing. Additionally, the Inheritance (Family Provision) Act 1971 ensures that adequate provision is made for the family members of a deceased person, highlighting the importance of thoughtful estate planning to avoid future conflicts.

    TRUE STORY
    Claire had become increasingly concerned as she noticed her husband, Krishna, growing happier by the day. It wasn’t that she didn’t share in his joy, but rather, she was troubled by the sudden return of his estranged son, Jay. Memories of the bitter quarrel that had driven Jay away were still fresh in her mind. Back then, Jay had demanded his inheritance from his late mother’s estate, but Krishna, citing his son’s youth, had refused. Tempers flared, hurtful words were exchanged, and Jay stormed out.

    Recalling that painful time, Claire had seen Krishna suffer deeply. It took the arrival of their own children to help him heal from the heartbreak. More than a decade had passed, and now, out of the blue, Jay stood at their doorstep. Unbeknownst to Claire, Krishna and Jay had reconnected secretly over the past six months, and it was Krishna who had extended the invitation for Jay to return.

    Krishna was overjoyed at Jay’s apparent change of heart, while Claire remained sceptical. Jay’s newfound kindness towards her, as well as his half-siblings, felt suspicious to her. A nagging thought took root in her mind – could there be ulterior motives behind Jay’s return? She couldn’t shake off the feeling that Jay’s intentions weren’t entirely pure. With Krishna aging, Claire feared Jay might be angling for a signifi can’t share of his father’s assets by mending their relationship. The prodigal son seemed intent on reclaiming his status as the favoured child, and Claire couldn’t ignore this undercurrent.

    The more Claire dwelled on her suspicions, the more anxious she became. She worried about the fate of her hard-earned money and assets in this blended family dynamic. As her husband’s wealth and their shared property were involved, she pondered whether Jay could eventually lay claim to her estate. Could he inherit a portion of her assets if she passed away before Krishna? These questions weighed heavily on her mind.

    Estate planning in situations involving blended families is inherently complex. Claire and Krishna’s case warranted a careful approach. One viable strategy was the utilisation of a Testamentary Trust, a legal arrangement outlined within a will that designates a trustee to manage specific assets for the benefit of named beneficiaries over a designated period. For instance, Claire could stipulate in her will that her assets, including her half-share of the house, would pass to Krishna and her two children upon her demise through a Testamentary Trust. To ensure her intentions were upheld, Claire might appoint a licensed trust company as the trustee, ensuring her assets would be held and distributed according to her wishes.

    In the context of Malaysia, where familial relationships are deeply intertwined with traditional values, the concept of estate planning takes on even greater significance.

    Alternatively, Claire could establish a Declaration Trust. This arrangement would empower her to serve as the primary trustee during her lifetime, with a licensed trust company stepping in as a substitute trustee after her passing. By executing this plan, Claire could ensure that part of her assets would not be transferred to Jay, even if Krishna’s will dictated otherwise. Assets she intended to safeguard for her children could be held within this trust structure, safeguarding her wishes.

    Navigating the intricacies of estate planning within blended families could be made simpler through these trust mechanisms. Whether employing a Testamentary Trust, a living trust, or a Declaration of Trust, individuals like Claire could assert their intentions without being overridden by their spouse’s conflicting desires, particularly in cases involving children from previous marriages. This thoughtful approach could alleviate Claire’s concerns and secure the future of her assets, bringing a measure of peace to this complex family situation.

    The true story of Claire, Krishna, and Jay was written and submitted to SmartInvestor by Rockwills. The Rockwills Group of Companies has operations in both Malaysia and Singapore, providing solutions and support services in the areas of succession, administration, and distribution of wealth. Rockwills started in 1995 and is the pioneer in the region to provide retail Trust, Will-writing and Will custody services. Rockwills is also licensed, respectively, in both Malaysia and Singapore to carry on trust business, and its services include acting as trustee of many family trusts and executor of many estates. Other services include the provision of comprehensive estate planning advice and offshore services.

  • UEM Edgenta’s Speedy COVID-19 ICU Build Earns Malaysia Book of Records Recognition

    UEM Edgenta Berhad, a leading Asset Management & Infrastructure Solutions company in the region, has been recognized by the Malaysia Book of Records for its rapid construction of a Field Hybrid Intensive Care Unit (FHyICU) during the COVID-19 pandemic. This award, presented to its subsidiary Edgenta Healthtronics Sdn Bhd (EHSB), acknowledges their achievement in building the “FASTEST CONSTRUCTION OF FHyICU BUILDING DURING COVID-19 PANDEMIC,” a groundbreaking project that exemplifies UEM Edgenta’s dedication to innovation and project execution in challenging times.

    The inception of the FHyICU project was initiated by the Minister of Health and his Secretary-General as a response to the escalating COVID-19 infections in 2020. In collaboration with the Ministry of Health (MOH), UEM Edgenta embarked on this strategic partnership to elevate healthcare infrastructure and strengthen the nation’s health capacity.

    Syahrunizam Samsudin, Managing Director and Chief Executive Officer of UEM Edgenta, emphasized their commitment to supporting the government’s COVID-19 recovery efforts. Leveraging their specialized expertise, they successfully brought the MOH’s innovative FHyICU concept to life—a mobile ICU unit with its own self-sustaining power, oxygen, and water supply.

    Shaiful Subhan, Managing Director of Edgenta Mediserve Sdn Bhd and Head of Healthcare Solutions at UEM Edgenta, expressed pride in receiving recognition from the Malaysia Book of Records. He reaffirmed the company’s commitment to delivering innovative solutions and advancing Malaysia’s healthcare landscape, even in challenging circumstances.

    The construction of the 150-bed FHyICU facility was a groundbreaking initiative that enhanced critical care capabilities across multiple locations in Malaysia during the COVID-19 pandemic. This achievement underscored UEM Edgenta’s dedication to healthcare excellence and its support for the nation’s healthcare infrastructure during crises.

    The successful completion of the FHyICU project was the result of collaborative efforts between UEM Edgenta and its esteemed partners. UEM Edgenta, through EHSB, served as the main contractor and worked seamlessly with various partners, including Synar Setara Resources Sdn. Bhd., S&A Bintang Sdn. Bhd., and Perunding Al-Shura M&E Sdn. Bhd., each playing a pivotal role in this accomplishment.

    The certification ceremony, held at UEM Edgenta’s headquarters in Kuala Lumpur, featured Edwin Yeoh Tiong Chin, Senior Record Consultant from MBOR, presenting the award to Shaiful Subhan. Tuan Hj. Yahaya Saad, Director of the Engineering Services Division, along with representatives from MOH and Ir Mazlan Yusoff, Acting Chief Operating Officer of Healthcare Solutions at UEM Edgenta, were also present to witness this historic moment.

    UEM Edgenta remains committed to its journey of innovation, driving growth while delivering technology and sustainability-enabled impact to all stakeholders. For more information, please visit www.uemedgenta.com.

  • Cracking the Code of Neuropathic Pain: Early Diagnosis Vital for Diabetics

    September marks Global Pain Awareness Month, a critical time to illuminate the significance of pain and its management. Chronic pain affects a staggering 30% of the global population, plaguing individuals for more than three months.

    In an endeavor to comprehend the impact of neuropathic pain (NeP) and the unmet needs of diabetes sufferers, Viatris conducted a comprehensive survey involving 963 patients hailing from Italy, Spain, Malaysia, Mexico, and South Korea.

    Neuropathic pain (NeP), arising from somatosensory nervous system disorders, constitutes 20-25% of chronic pain cases. Regrettably, it is frequently underdiagnosed, leading to inadequate treatment. One of the prime culprits of NeP is painful diabetic peripheral neuropathy (pDPN), the most prevalent chronic complication of diabetes, resulting in agonizing nerve damage in the feet, legs, and hands.

    Key Insights

    One in four individuals with diabetes may develop painful diabetic peripheral neuropathy (pDPN), profoundly affecting their daily lives and emotional well-being.

    Patients’ Awareness and Diagnosis Experience

    • In Malaysia, 68% of patients were cognizant of the connection between pain symptoms and diabetes before receiving a diagnosis.
    • Globally, patients typically consulted physicians within four months of symptom onset, with diagnoses occurring within six months.
    • Misdiagnosis remains a pressing issue in Malaysia, impacting 63% of respondents.

    Impact of pDPN on patients

    • pDPN significantly compromises various aspects of patients’ lives, emotionally and practically. A staggering 75% in Malaysia had to adapt their work schedules, with 61% taking extended leaves from work.
    • Effects extend to mood (37%), participation in sports (48%), and sleep quality (37%).
    • Remarkably, only 1 in 5 patients worldwide feel comfortable discussing their condition, citing fears of discrimination, workplace issues, and embarrassment.

    The Imperative of Early Diagnosis and Treatment

    • Early diagnosis and timely treatment are paramount for managing underlying diseases and enhancing life quality.
    • In Malaysia, 58% of respondents are on prescription medications, with 23% expressing high satisfaction with their treatment.
    • Other avenues of treatment include dietary supplements (55%), physiotherapy (48%), and herbal remedies (33%).
    • Encouragingly, 48% of patients feel supported by loved ones, and 51% have learned to adapt to their condition.

    Jeff Bote, Country Manager of Viatris Malaysia, emphasized their commitment to supporting individuals grappling with painful diabetic peripheral neuropathy, given the profound impact on their quality of life. They underscore the importance of raising awareness regarding early detection, access to proper treatment, and addressing the unmet needs and challenges faced by those with this condition.

    In hindsight, one-third of patients worldwide would have sought advice earlier, avoided underestimating their symptoms, and communicated more effectively with their physicians. Patients express a need for more information on daily pain management (36%), increased public awareness (43%), and access to psychological support (47%).

  • Datuk Ir. Dr. Dennis Ganendra Achieves Coveted RAE International Fellowship for Exceptional Engineering Contributions

    The British Royal Academy of Engineering (RAE) has bestowed its prestigious International Fellowship upon Datuk Ir. Dr. Dennis Ganendra, CEO of Malaysia’s Minconsult. This esteemed honour, the highest recognition from the RAE, acknowledges Dr. Ganendra’s outstanding engineering contributions, his unwavering dedication to innovation, infrastructure projects, policy, and academic progress.

    Notably, Dr. Ganendra stands as the sole Asian recipient among the eight distinguished international fellows selected this year. With an impressive background, he holds fellowships from institutions such as the Institution of Civil Engineers (UK), Institution of Engineers (IEM) Malaysia, Institution of Highways and Transportation, Academy of Sciences Malaysia (ASM), and is a Climate Action Fellow of the UN Global Compact – Network Malaysia.

    Datuk. Ir. Dr Dennis Ganendra

    Dr. Ganendra, as the Chief Executive Officer of Minconsult Sdn Bhd, a prominent Malaysian engineering consultancy firm, brings over 30 years of multidisciplinary engineering project experience, boasting numerous award-winning local and international projects in his portfolio. His visionary leadership and nation-building initiatives continue to shape the industry, fostering transformative change for the betterment of societies. Additionally, he is the Founder of the pioneering renewable energy contractor, Timeless Green Sdn Bhd.

    Dr. Ganendra now joins an illustrious group of international fellows, which includes luminaries like Steven Chu FREng, Nobel Prize in Physics from Stanford University; John Hennessy FREng, former President of Stanford University and pioneer of RISC; and Frances Arnold FREng, Nobel Prize in Chemistry from Caltech. The Royal Academy of Engineering (RAE), founded under Royal Charter in the UK, is dedicated to the promotion of engineering excellence and the advancement of the engineering profession. Its charter emphasizes the pursuit, encouragement, and maintenance of excellence in the field of engineering for the greater benefit of the public and the economy.

    The Royal Academy of Engineering (RAE) is UK-based and created by Royal Charter. The RAE is dedicated to promoting engineering excellence and advancing the engineering profession. Its charter provides that: “The object of the Academy shall be the pursuit, encouragement and maintenance of excellence in the whole field of engineering to useful purpose in order to promote the advancement of the science, art and practice of engineering for the benefit of the public and economy”.

  • Worldwide Holdings Berhad Leading the Green Revolution

    In a remarkable stride towards environmental sustainability and energy innovation, Worldwide Holdings Berhad (WHB) is at the forefront of driving Waste-to-Energy (WTE) projects in Selangor, Malaysia. The company is currently spearheading the development of the largest and most advanced WTE facility in the country, marking a significant leap in the region’s waste management industry.

    The cornerstone of WHB’s commitment to sustainable development lies in its ambitious plan to develop the Jeram Waste-to-Energy Project. This project will collectively process an impressive 3,000 tons per day (tpd) of solid waste at the company’s Integrated Solid Waste Management Center (ISWMC) in Jeram, generating about 50 MW of clean and renewable energy. Additionally, another WTE plant to be developed at the ‘Tanjung Dua Belas ISWMC’ in Kuala Langat will process an additional 1,800 tpd of solid waste, producing 38 MW of electricity.

    One of the most remarkable aspects of WHB’s WTE initiative is its ability to effectively treat a wide spectrum of waste materials. This technology plays a pivotal role in addressing the unsorted waste problem, reducing the volume of solid waste by a staggering 90%. By implementing WTE solutions, Selangor is taking a significant step towards minimizing its environmental impact and overcoming waste management challenges.

    Furthermore, WHB’s commitment to the environment extends to resolving the scarcity of land for landfills in Selangor. The WTE facilities significantly reduce the dependency on engineered landfill disposal methods, which require a larger environmental footprint and pose long-term risks. By transitioning to WTE, Selangor can conserve valuable land resources and ensure a cleaner and healthier environment for its residents.

    The development of the ISWMCs by WHB marks a substantial contribution to supporting the Selangor state government’s sustainability agenda, aligning with the goals outlined in ‘Rancangan Selangor Pertama’ (RS-1). This aims to lead in sustainable development and safeguard a clean and robust environment for future generations. WHB’s investments in WTE facilities demonstrate a strong commitment to reducing greenhouse gas emissions and promoting a circular economy, where waste is transformed into valuable resources.

    “With these WTE projects in the pipeline in Selangor, we are set to further strengthen our position as a national champion in waste management, aligning with the nation’s move towards achieving zero-waste status,” said WHB Group CEO, Datin Paduka Norazlina Zakaria.

    WHB’s WTE projects are not just a testament to its dedication to environmental sustainability but also to its forward-thinking approach towards energy production. By harnessing the potential of waste as a resource, Selangor is not only addressing its waste management challenges but also contributing to its energy needs in an eco-friendly manner. This reduces reliance on fossil fuels and mitigates the environmental impacts associated with their extraction and consumption.

    Looking ahead, WHB is poised to make even greater strides in the field of WTE. The company plans to develop several more WTE plants over the next decade, further solidifying its commitment to transforming waste into clean energy and supporting Selangor’s journey towards a more sustainable future. As WHB continues to innovate and expand its WTE portfolio, it is clear that the company’s vision goes beyond mere waste management; it is a vision of a cleaner, greener, and more energy-efficient Selangor for generations to come.