Trading ideas: NexG, PETRONAS Gas, OSK, Sime Darby Property, Lotte, GenM, OneTech, iCents, PMCK
NexG Bhd has secured several contract extensions from the Home Ministry with the value disclosed for some of them adding up to RM45.6mn.
Petronas Gas Bhd has fully restored natural gas supply to Batu Tiga, Shah Alam, and Connaught Bridge after successfully commissioning a newly constructed bypass pipeline on 1 July 2025.
OSK Holdings Bhd is acquiring Wilayah Credit Sdn Bhd for RM16.5mn in cash to expand into motorcycle financing.
Sime Darby Property Bhd , via wholly owned unit Sime Darby Property (Hong Kong) Ltd, has entered into a loan agreement to provide £10mn (RM58mn) in shareholders' advances to Battersea Project Holding Co Ltd.
Lotte Chemical Titan Holding Bhd is undertaking a 10-year related-party transaction valued at US$2.99bn (RM12.7bn) via a supply agreement between subsidiaries in Indonesia.
Genting Malaysia Bhd announced that its US subsidiary, Genting Americas Inc, has obtained a favourable outcome in a legal dispute after the US District Court for the Southern District of Florida granted its motion to dismiss a lawsuit filed by RAV Bahamas Ltd.
OneTech Solutions Holdings Bhd has been served with a winding-up petition by former MD Lau King Yew, escalating an internal legal dispute.
iCents Group Holdings Bhd said its IPO has been oversubscribed by 2.3x ahead of its ACE Market debut on 17 July.
PMCK Bhd is expanding regionally with a new private medical centre, PMC Kulim, slated to begin operations in 1Q28.
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New Straits Times
3 hours ago
- New Straits Times
China starts construction of Tibet mega-dam
BEIJING: China started building a mega-dam Saturday on a river running through Tibet and India, with Premier Li Qiang attending the commencement ceremony, state media said. Beijing approved the project in December on the river – known as Yarlung Tsangpo in Tibet and Brahmaputra in India – linking it to the country's carbon neutrality targets and economic goals in the Tibet region. "The electricity generated will be primarily transmitted to other regions for consumption, while also meeting local power needs in Tibet," state news agency Xinhua reported after the groundbreaking ceremony in southeastern Tibet's Nyingchi. Once built, the dam could dwarf the record-breaking Three Gorges Dam on the Yangtze River in central China – and have a potentially serious impact on millions of people downstream in India and Bangladesh. The project will entail constructing five hydropower stations, with the total investment estimated to be around 1.2 trillion yuan (US$167.1 billion), Xinhua said. India said in January it had raised concerns with China about the project in Tibet, saying it will "monitor and take necessary measures to protect our interests." China "has been urged to ensure that the interests of the downstream states of the Brahmaputra are not harmed by activities in upstream areas", India's foreign ministry said then. In December, Beijing's foreign ministry said that the project would not have any "negative impact" downstream, adding that China "will also maintain communication with countries at the lower reaches" of the river. Besides downstream concerns, environmentalists have also warned about the irreversible impact of such mega projects in the ecologically sensitive Tibetan plateau. Both India and China, neighbours and rival Asian powers, share thousands of kilometres of disputed borders, where tens of thousands of soldiers are posted on either side.
New Straits Times
4 hours ago
- New Straits Times
Sabah Blue Economy on track to yield RM3.25bil annually from marine harvests
KOTA KINABALU: The Sabah Blue Economy is estimated to yield 491,000 tonnes of marine harvests such as fish and prawns annually, with a value of RM3.25 billion, said Chief Minister Datuk Seri Hajiji Noor. He said marine harvesting is one of 14 components of the Blue Economy that can be explored, such as renewable ocean energy, blue carbon, tourism, maritime transport, and marine biotechnology, among others. "There is more to Blue Economy than just deep-sea harvesting," he said in a speech read by Sabah Finance Minister Datuk Seri Masidi Manjun at the International Business Review (IBR) ASEAN Awards here yesterday. Also present was IBR Asia Group founder, director and chief executive officer Datuk Beatrice Nirmala. The chief minister also said that one of the most exciting aspects of ocean energy is the Ocean Thermal Energy Conversion (OTEC), which harnesses energy from the oceans. "OTEC power plants are currently being planned to span across 500km of coastline and, in time, to be able to generate 20,000MW of green energy, an unprecedented scale globally. This is not only a gamechanger for the country, it is a gamechanger for the region," he said. Hajiji said the Blue Economy Industrial Park has been established in Kudat as part of three new industrial parks approved by the state government, along with Kota Belud and Beaufort, all strategically located to grow investment opportunities. On the investment front, Hajiji said Sabah had recorded RM17.41 billion from 73 companies in overall approved foreign and domestic investments in the manufacturing sector since September 2020, with 52 companies already setting up businesses in the state with a total investment of RM7.8 billion, creating 3,636 jobs. Between 2022 and 2024, Sabah received new investment proposals worth an additional RM42.3 billion, which will create 32,996 jobs, he added. The chief minister highlighted that Sabah had sealed the Commercial Collaborative Agreement with Petronas, allowing the state to have more participation in the oil and gas industry. This includes 50 per cent equity from the Samarang oil and gas field, 25 per cent equity from Samur, and a 25 per cent equity in the US$3.1 billion (US$1=RM4.24) floating liquefied natural gas (ZLNG) investment in Sipitang. To support the growing investments, the state government has launched the Sabah Energy Roadmap and Master Plan 2040. This initiative aims to generate 700MW within the next 1 to 2 years. Additionally, the government has allocated RM679.85 million in 2024 to address immediate water shortages. Long-term plans also include the completion of the Ulu Padas hydropower. Meanwhile, nine winners were announced at the event, namely Institut Jantung Negara for corporate excellence in the healthcare sector, Clean Kinetics Pte Ltd for corporate excellence in the renewable energy sector, Millenium Minerals Ltd for corporate excellence in the mining industry, Sabah Port Sdn Bhd for corporate excellence in the logistics sector, AiRTS Pte Ltd for innovative technology in the artificial intelligence sector, Alpine Integrated Solution Sdn Bhd for corporate excellence in the event management sector, and Education Malaysia Global Services for corporate excellence in the education sector. Negeri Sembilan was named Most Progressive State in Malaysia in 2024, while Sabah was recognised as the Most Outstanding State in Malaysia for 2024.
The Star
7 hours ago
- The Star
ChatGPT helps prepare this mayor's talking points. Now he wants a thousand city workers using AI
Before the mayor of San Jose, California, arrives at a ribbon-cutting ceremony for a new business, his aides ask ChatGPT to help draft some talking points. "Elected officials do a tremendous amount of public speaking,' said Mayor Matt Mahan, whose recent itinerary has taken him from new restaurant and semiconductor startup openings to a festival of lowriding car culture. Other politicians might be skittish admitting a chatbot co-wrote their speech or that it helped draft a US$5.6bil (RM23.7bil) budget for the new fiscal year, but Mahan is trying to lead by example, pushing a growing number of the nearly 7,000 government workers running Silicon Valley's biggest city to embrace artificial intelligence technology. Mahan said adopting AI tools will eliminate drudge work and help the city better serve its roughly 1 million residents. He's hardly the only public or private sector executive directing an AI-or-bust strategy, though in some cases, workers have found that the costly technology can add hassles or mistakes. "The idea is to try things, be really transparent, look for problems, flag them, share them across different government agencies, and then work with vendors and internal teams to problem solve,' Mahan said in an interview. "It's always bumpy with new technologies.' By next year, the city intends to have 1,000, or about 15%, of its workers trained to use AI tools for a variety of tasks, including pothole complaint response, bus routing and using vehicle-tracking surveillance cameras to solve crimes. One of San Jose's early adopters was Andrea Arjona Amador, who leads electric mobility programs at the city's transportation department. She has already used ChatGPT to secure a US$12mil (RM50.9mil) grant for electric vehicle chargers. Arjona Amador set up a customised "AI agent' to review the correspondence she was receiving about various grant proposals and asked it to help organise the incoming information, including due dates. Then, she had it help draft the 20-page document. So far, San Jose has spent more than US$35,000 (RM148,592) to purchase 89 ChatGPT licenses – at US$400 (RM1,698) per account – for city workers to use. "The way it used to work, before I started using this, we spent a lot of evenings and weekends trying to get grants to the finish line,' she said. The Trump administration later rescinded the funding, so she pitched a similar proposal to a regional funder not tied to the federal government. Arjona Amador, who learned Spanish and French before she learned English, also created another customized chatbot to edit the tone and language of her professional writings. With close relationships to some of the tech industry's biggest players, including San Francisco-based OpenAI and Mountain View-based Google, the mayors of the Bay Area's biggest cities are helping to promote the type of AI adoption that the tech industry is striving for, while also promising guidelines and standards to avoid the technology's harms. San Francisco Mayor Daniel Lurie announced a plan Monday to give nearly 30,000 city workers, including nurses and social workers, access to Microsoft's Copilot chatbot, which is based on the same technology that powers ChatGPT. San Francisco's plan says it comes with "robust privacy and bias safeguards, and clear guidelines to ensure technology enhances - not replaces - human judgment.' San Jose has similar guidelines and hasn't yet reported any major mishaps with its pilot projects. Such problems have attracted attention elsewhere because of the technology's propensity to spew false information, known as hallucinations. ChatGPT's digital fingerprints were found on an error-filled document published in May by US Health Secretary Robert Kennedy Jr.'s "Make America Healthy Again" commission. In Fresno, California, a school official was forced to resign after saying she was too trusting of an AI chatbot that fabricated information in a document. While some government agencies have been secretive about when they turn to chatbots for help, Mahan is open about his ChatGPT-written background memos that he turns to when making speeches. "Historically, that would have taken hours of phone calls and reading, and you just never would have been able to get those insights," he said. "You can knock out these tasks at a similar or better level of quality in a lot less time.' He added, however, that "you still need a human being in the loop. You can't just kind of press a couple of buttons and trust the output. You still have to do some independent verification. You have to have logic and common sense and ask questions.' Earlier this year, when OpenAI introduced a new pilot product called Operator, it promised a new kind of tool that went beyond a chatbot's capabilities. Instead of just analyzing documents and producing passages of text, it could also access a computer system and schedule calendars or perform tasks on a person's behalf. Developing and selling such "AI agents" is now a key focus for the tech industry. More than an hour's drive east of Silicon Valley, where the Bay Area merges into Central Valley farm country, Jamil Niazi, director of information technology at the city of Stockton, had big visions for what he could do with such an agent. Perhaps the parks and recreation department could let an AI agent help residents book a public park or swimming pool for a birthday party. Or residents could find out how crowded the pool was before packing their swim clothes. Six months later, however, after completing a proof-of-concept phase, the city didn't buy a full license for the technology due to the cost. The market research group Gartner recently predicted that over 40% of "agentic AI' projects will be cancelled before the end of 2027, "due to escalating costs, unclear business value or inadequate risk controls.' San Jose's mayor remains bullish about the potential for these AI tools to help workers "in the bowels of bureaucracy' to rapidly speed up their digital paperwork. "There's just an amazing amount of bureaucracy that large organisations have to have,' Mahan said. "Whether it's finance, accounting, HR or grant writing, those are the kinds of roles where we think our employees can be 20 (to) 50% more productive – quickly.' – AP ——— The Associated Press and OpenAI have a licensing and technology agreement that allows OpenAI access to part of AP's text archives.
