This article first appeared in The Edge Malaysia Weekly on March 20, 2023 - March 26, 2023
February
14 a. RHB Research names 12 regional ESG stock picks for 2023, four of which are listed on Bursa Malaysia. This includes Press Metal Aluminium Holdings Bhd, Sunway Construction Group Bhd, TIME dotCom Bhd and Samaiden Group Bhd.
b. CIMB Bank Bhd onboards its first foreign multinational client for its sustainability-linked Treasury programme.
16 The Ministry of Natural Resources, Environment and Climate Change announces plans to increase the water pollution fine to RM10 million from RM100,000 and the jail sentence to 15 years from one year.
17 a. Lynas Malaysia Sdn Bhd refutes a news article claiming that its rare earth processing plant in Pahang caused radioactive contaminants in underground water.
b. CelcomDigi, Maxis Bhd, Telekom Malaysia Bhd, U Mobile Sdn Bhd and YTL Communications Sdn Bhd introduce a special prepaid mobile internet plan to eligible Malaysians in underserved communities under the government’s Pakej Perpaduan Prabayar Mudah Alih.
18 Deputy Prime Minister Datuk Seri Fadillah Yusof says the European Union needs to take a more open attitude over the restriction on the entry of certain commodities.
19 Ninja Van Malaysia signs a memorandum of understanding with National Cancer Society Malaysia to become the exclusive delivery partner for the distribution of NCSM’s educational and medical materials.
20 Bursa Malaysia Bhd teams up with the Malaysian Green Technology and Climate Change Corporation to build and promote the voluntary carbon market (VCM) ecosystem in Malaysia.
The collaboration will focus on the development of a national VCM handbook, a directory of carbon industry service providers and the enhancement of knowledge sharing among ecosystem players. An inaugural Malaysia Carbon Market Forum will be organised in conjunction with the International Greentech & Eco Products Exhibition & Conference Malaysia.
21 The Associated Chinese Chambers of Commerce and Industry of Malaysia urges the government to help cut the cost of extended maternity leave. Its survey showed that 41.3% of businesses said they were hiring more male employees since paid maternity leave was extended to 98 days last year.
23 The development of the Climate Change Bill is expected to take two to three years, says the Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad in parliament. He says the ministry is in the early stages of developing the bill.
24 The revised Budget 2023 was tabled and includes the following measures (non-exhaustive):
a. Bank Negara Malaysia will provide financing of up to RM2 billion to support green tech start-ups and help small and medium enterprises implement low-carbon practices.
b. The Green Technology Financing Scheme is to be implemented with an increased allocation of RM3 billion until 2025 and the scope is widened to cover electric vehicles (EVs).
c. The incentive period for the Green Investment Tax Allowance and Green Income Tax Exemption scheme will be extended until Dec 31, 2025.
d. Tax breaks for companies that lease EVs (not exceeding RM300,000); import duty exemption on EV components for local assembly (until Dec 31, 2027); excise duty and sales tax waiver on locally assembled completely-knocked-down EVs (until Dec 31, 2027).
e. 100% statutory income tax exemption for manufacturers of EV chargers from 2023 to 2032 and a 100% allowance on investment tax for five years.
27 Malayan Banking Bhd says it will raise its sustainable financing target to RM80 billion and commit to improving the lives of two million households in Asean. Its original goal was RM50 billion in sustainable finance. In the last two years, it has already achieved RM34 billion.
MARCH
1 a. Tan Sri Vincent Tan steps down as non-independent and non-executive chairman and his son Datuk Seri Robin Tan resigns as non-independent and non-executive deputy chairman of Berjaya Corp Bhd. The company now has an all-women board of directors.
b. Tesla receives approval from the government to import battery electric vehicles to Malaysia.
4 Over 44,000 people were evacuated in Johor due to flooding caused by torrential rains that lasted for days. According to reports, the highest rainfall in four days was recorded since 1991.
6 a. Minister of Economic Affairs Rafizi Ramli says the government plans to finalise and present the Energy Transition Road Map within three months. The road map will translate the National Energy Policy into energy transition projects led by companies of all sizes.
b.Yang di-Pertuan Agong Al-Sultan Abdullah Ri-ayatuddin Al-Mustafa Billah Shah witnesses the signing ceremony of two memoranda of understanding (MoU) to improve environmental management and sustainability in Cameron Highlands. The parties involved are the Cameron Highlands District and Land Office, Cameron Highlands Development Corporation, Malaysian Space Agency, Aerodyne Group and the National Water Research Institute.
One MoU was to strengthen land use monitoring through satellite surveillance technology and efficient data sharing, while the other was to improve sediment management efficiency.
7 a. The Association of Banks in Malaysia and its member banks say it is committed to assisting customers who have been affected by recent floods around the country.
b. Kossan Rubber Industries and Pantas Software launch the Greening Value Chain programme, which aims to incentivise take-up of carbon emission management among Kossan’s suppliers.
c. Sime Darby Plantation Bhd plans to employ 100% local workers by the end of 2027 and offer a minimum wage of RM3,000.
d. Deputy Prime Minister Datuk Seri Fadillah Yusof says a National Biomass Action Plan that includes five sectors — plantation, agriculture, livestock, fisheries and forestry — is expected to be completed in July.
e. PropertyGuru Malaysia’s biannual Consumer Sentiment Study for the first half of 2023 shows that 52% of surveyed consumers are willing to pay a higher insurance premium to be protected from the consequences of climate change on their property.
8 Bursa Malaysia and the London Stock Exchange Group will roll out a centralised sustainability reporting platform next month that can help companies calculate their carbon emissions impact, says Prime Minister Datuk Seri Anwar Ibrahim.
The prime minister also says the government is committing to a seed fund of RM10 million to act as an assured demand for Malaysian-generated carbon credits to kick-start the market.
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