News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs.
Below are snippets of all the media releases we received from April 22 till the end of the week.
This article updates throughout the week.

Epson Initiates Biomass Plant

Sydney, April 23: Epson has revealed plans to build its first biomass power plant in Japan, aiming for operation by fiscal year 2026.
The plant will utilize renewable sources such as unused wood and tree bark, aligning with Epson’s commitment to carbon negativity and sustainable resource use as outlined in its Environmental Vision 2050.
The facility will reduce dependence on external electricity, boost self-generated power, and support local communities in emergencies.
The electricity produced will be sold under a feed-in premium scheme, promoting wider adoption of renewable energy.

Masverse Launches MasChain Platform

Kuala Lumpur, April 23: Masverse Sdn. Bhd., a leader in blockchain innovation, today unveiled MasChain, a groundbreaking blockchain platform aimed at transforming digital transactions for governments and industries.
Leveraging Proof of Authority (PoA), MasChain promises enhanced security and scalability across various sectors including fintech, supply chain management, and digital identity.
The platform’s launch was marked by strategic agreements to foster smart farming, tourism, and halal compliance.
MasChain, built on the Substrate core framework, also introduces tokenization and blockchain solutions tailored for ASEAN and Islamic Union markets, positioning Malaysia as a pioneer in digital economy advancements

Alpro Foundation Expands Aid

Kuala Lumpur, April 24: Alpro Foundation, the CSR arm of Alpro Pharmacy, has announced plans to extend support to 60 more tube-feeding patients across Malaysia. Since 2019, the initiative has provided aid to over 250 patients, helping families save around RM6.13 million. “Thanks to the continuous support of Alpro Pharmacy’s customers, we are currently looking to support another 60 tube feeding patients from any part of Malaysia,” stated Ostwin Paw, CEO of Alpro Foundation. The programme supports patients by offering Metabolic Basic, an affordable nutritional product. Interested individuals can apply for assistance at any Alpro Pharmacy or learn more by contacting 019-3881923 or visiting https://www.alpropharmacy.com/csr/.

Legacy Credit Invests in VCI Global

Kuala Lumpur, April 24: Legacy Credit Sdn Bhd announced today its acquisition of a substantial shareholding in VCI Global Limited (NASDAQ: VCIG) through a $2.5 million investment.
This strategic move grants Legacy Credit over a five per cent stake in the company, enhancing its influence in the ASEAN financial services sector.
Nelson Goh, CEO of Legacy Credit, emphasized the strategic nature of the investment, stating, “Our significant investment in VCI Global is more than a financial venture; it’s a strategic alliance. With this move, we aim to blend VCI’s esteemed capabilities with our innovative approaches to open up new pathways for ASEAN SMEs on global platforms such as Nasdaq.”
Datuk Victor Hoo, CEO of VCI Global, welcomed the partnership, highlighting its benefits: “We are delighted to welcome Legacy Credit as a valued investor.
Their confidence in VCIG underscores our reliability and investment potential. Legacy Credit’s investment will boost our business, accelerate our growth trajectory, and drive long-term value for our stakeholders, demonstrating our commitment for further company growth.”
The collaboration is poised to leverage both companies’ strengths to support economic growth and innovation in the region.

Miri VIC Relaunches

Miri, April 24: The Sarawak Tourism Board today celebrated the grand reopening of the Visitor Information Centre (VIC) in Miri, marking a significant upgrade aimed at boosting tourism and supporting sustainable urban development.
The event, officiated by Deputy Minister for Tourism Sarawak, YB Datuk Sebastian Ting Chiew Yew, featured a symbolic flower planting and showcased a commitment to enhancing green public spaces and responsible tourism.
The upgraded VIC Miri, serving as a key information hub, supports Sarawak as a prime gateway to the UNESCO-listed Gunong Mulu National Park. The centre now hosts a variety of community and cultural activities, highlighted by the installation of a unique 3.2-meter Sape Sculpture, enhancing Miri’s cultural landscape.

Gogoro Launches JEGO Smartscooter

Taiwan, April 24: Gogoro Inc. (Nasdaq: GGR) has started delivering its JEGO Smartscooter in Taiwan, with over 6,500 fully-paid preorders already secured. This marks the highest demand for a Gogoro vehicle since the pandemic began, mainly from first-time EV buyers.
Horace Luke, CEO of Gogoro, stated, “JEGO has touched a positive chord with a new market segment of Taiwan riders – nearly all of our 6,500 pre order customers are first time EV riders. They are looking for a smart, convenient and sustainable vehicle and are not just embracing JEGO’s innovation and design but also access to Gogoro’s vast battery swapping network. Initial JEGO sales are surpassing our expectations and showing the strongest demand we’ve seen since the beginning of the pandemic. With deliveries beginning this week, we expect to realize JEGO’s pre order revenue this quarter.”
The JEGO features a new body design and core innovations, offered at a competitive price of USD$760 after subsidies. Gogoro also rolled out a new low-cost battery subscription plan to support this launch.

Aneka’s Strong Q2 Growth

Kuala Lumpur, April 24: Aneka Jaringan Holdings Berhad reported a strong second quarter with revenue hitting RM54.22 million, an increase of RM11.24 million year-on-year.
Gross profit for the quarter rose to RM4.72 million from RM0.40 million in the same period last year.
The construction and renewable energy company also noted a profit after tax of RM0.55 million, a significant recovery from a loss of RM4.36 million in 2Q FYE2023.
“Delightful to see Aneka Jaringan’s continued growth and profitability, reflecting our dedication and resilience in navigating market challenges,” said Managing Director Pang Tse Fui.
The company is optimistic about maintaining momentum, backed by an order book of RM233.16 million.

Hisense Elevates ASEAN Strategy

Bangkok, April 26: At the 2024 Hisense ASEAN Region Customer Conference in Bangkok, Thailand, Hisense unveiled its comprehensive strategy for regional enhancement, themed “The Scenario-driven Glory of Win-win.” The conference, attended by nearly 400 representatives from Southeast Asia, marked the launch of Hisense’s new strategic vision, focusing on user-centric innovations and scenario-based service improvements. Hisense confirmed its commitment to ASEAN markets with a 22% growth in the region and top rankings in several appliance categories across Thailand and Malaysia. The company also celebrated its 55th anniversary, alongside announcing sponsorship of UEFA Euro 2024. Additionally, Hisense introduced a range of advanced home appliances, emphasizing health and user experience, supported by local research and development efforts. The event also highlighted Hisense’s engagement in sports marketing, including a new partnership with legendary goalkeeper Manuel Neuer as the brand ambassador for the UEFA Euro 2024.

EMTOP’s Final Mega Sale

Kuala Lumpur, April 26: EMTOP, an international hardware brand, is concluding its Mega deals in Kuala Lumpur, with promotions running until 30 April 2024.
The sale features a 50 per cent discount on over 100 hardware tools and a special Mega Combo deal offering a set of four tools for just RM599, significantly reduced from the normal price of RM1,450.
Key items on sale include lithium-ion impact wrenches, impact drills, blowers, and heat guns. Additionally, the Mega Combo includes lithium-ion angle grinders, cordless drills, work lamps, and abrasive metal cut disc sets.
For more details, visit EMTOP’s promotions page at their official website.
This event marks another milestone following the opening of Malaysia’s first EMTOP store by MR D.I.Y. Group in April 2023.