Shifting work boundaries
WHAT does it take to attract Malaysia's top young talent in 2025? As more Gen Z professionals (those born between 1997 and 2012) join the workforce, they're reshaping workplace norms and expectations.
Clear boundaries between work and personal life, along with well-defined career growth opportunities are now essential for young jobseekers.
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Borneo Post
3 days ago
- Borneo Post
SMJ Energy secures RM 94 million in revenue from crude oil sale
KOTA KINABALU (July 24): SMJ Energy on Thursday announced the successful 10th sale of its crude oil from its Samarang Production Sharing Contract (PSC), generating an estimated RM 94 million in revenue. This latest transaction further solidifies the company's commitment to generating long-term, sustainable value from its operations. Since acquiring a 50% participating interest in the Samarang PSC on May 31, 2023, SMJ Energy's robust performance in the market continues to yield impressive results. Cumulatively, the company has generated an estimated RM1.9 billion in revenue to date, or RM397 million since early 2025 through strategic sales of its crude oil and gas from Samarang PSC. Samarang PSC, located offshore Sabah, is expected to provide continuous and significant revenue streams to SMJ Energy. Samarang PSC also produces and supply gas to Kota Kinabalu Industrial Park (KKIP) and three gas power plants in and around Kota Kinabalu, Sabah. The sale of crude oil from the Samarang PSC reinforces SMJ Energy's position as a key player in Sabah's energy sector. The company's operations support the Sabah State Government's goals of driving economic growth, strengthening local content development, and advancing a sustainable energy future.
The Star
4 days ago
- The Star
Spy cockroaches and AI robots: Germany plots the future of warfare
MUNICH/BERLIN/FRANKFURT: For Gundbert Scherf – the co-founder of Germany's Helsing, Europe's most valuable defence start-up – Russia's invasion of Ukraine changed everything. Scherf had to fight hard to attract investment after starting his company – which produces military strike drones and battlefield AI – four years ago. Now, that's the least of his problems. The Munich-based company more than doubled its valuation to US$12bil (RM 50.60bil) at a fundraising last month. "Europe this year, for the first time in decades, is spending more on defense technology acquisition than the US," said Scherf. The former partner at McKinsey & Company says Europe may be on the cusp of a transformation in defence innovation akin to the Manhattan Project – the scientific push that saw the US rapidly develop nuclear weapons during World War Two. "Europe is now coming to terms with defense." Reuters spoke to two dozens executives, investors and policymakers to examine how Germany – Europe's largest economy – aims to play a central role in the rearming the continent. Chancellor Friedrich Merz's government views AI and start-up technology as key to its defence plans and is slashing bureaucracy to connect startups directly to the upper echelons of its military, the sources told Reuters. Shaped by the trauma of Nazi militarism and a strong postwar pacifist ethos, Germany long maintained a relatively small and cautious defence sector, sheltered by US security guarantees. Germany's business model, shaped by a deep aversion to risk, has also favoured incremental improvements over disruptive innovation. No more. With US military support now more uncertain, Germany – one of the biggest backers of Ukraine – plans to nearly triple its regular defence budget to around €162bil (RM 802.11bil or US $175bil) per year by 2029. Much of that money will go into reinventing the nature of warfare, the sources said. Helsing is part of a wave of German defence start-ups developing cutting-edge technology, from tank-like AI robots and unmanned mini-submarines to battle-ready spy cockroaches. "We want to help give Europe its spine back," said Scherf. Some of these smaller firms are now advising the government alongside established firms – so-called primes such as Rheinmetall and Hensoldt – that have less incentive to focus primarily on innovation, given their long backlogs for conventional systems, one of the sources said. A new draft procurement law, approved by Merz's cabinet on Wednesday, aims to reduce hurdles for cash-strapped start-ups to join tenders by enabling advance payment to these firms. The law would also entitle authorities to limit tenders to bidders inside the European Union. Marc Wietfeld, CEO and founder of autonomous robots maker ARX Robotics, said a recent meeting with German defence minister Boris Pistorius hammered home how deep the rethink in Berlin goes. "He told me: 'Money is no longer an excuse – it's there now'. That was a turning point," he said. Germany in the lead Since Donald Trump's return to the political stage and his renewed questioning of America's commitment to NATO, Germany has committed to meet the alliance's new target of 3.5% of GDP on defense spending by 2029 – faster than most European allies. Officials in Berlin have emphasised the need to foster a European defence industry rather than rely on US companies. But the hurdles towards scaling up industry champions in Germany – and Europe more broadly – are considerable. Unlike in the United States, the market is fragmented in Europe. Each country has its own set of procurement standards to fulfill contracts. The United States, the world's top military spender, already has an established stable of defence giants, like Lockheed Martin and RTX, and an advantage in key areas, including satellite technology, fighter jets and precise-guided munitions. Washington also began boosting defence tech startups in 2015 – including Shield AI, drone maker Anduril and software company Palantir – by awarding them parts of military contracts. European startups until recently languished with little government support. But an analysis by Aviation Week in May showed Europe's 19 top defence spenders – including Turkey and Ukraine – were projected to spend US$180.1bil (RM 759.57bil) this year on military procurement compared, to US$175.6bil (RM 740.59bil) for the United States. Washington's overall military spending will remain higher. Hans Christoph Atzpodien, head of Germany's security and defence sector association BDSV, said one challenge was that the military's procurement system was geared toward established suppliers and not well suited to the fast pace that new technologies require. Germany's defence ministry said in a statement it was taking steps to accelerate procurement and to better integrate startups in order to make new technologies quickly available to the Bundeswehr. Annette Lehnigk-Emden, head of the armed forces' powerful procurement agency, highlighted drones and AI as emerging fields that Germany needs to develop. "The changes they're bringing to the battlefield are as revolutionary as the introduction of the machine gun, tank, or airplane," she told Reuters. Spy cockroaches Sven Weizenegger, who heads up the Cyber Innovation hub, the Bundeswehr's innovation accelerator, said the war in Ukraine was also changing social attitudes, removing a stigma towards working in the defence sector. "Germany has developed a whole new openness towards the issue of security since the invasion," he said. Weizenegger said he was receiving 20-30 Linkedin requests a day, compared to maybe 2-3 weekly back in 2020, with ideas for defence technology to develop. Some of the ideas under development feel akin to science fiction – like Swarm Biotactics' cyborg cockroaches that are equipped with specialised miniature backpacks that enable real-time data collection via cameras for example. Electrical stimuli should allow humans to control the insects' movements remotely. The aim is for them to provide surveillance information in hostile environments – for example information about enemy positions. "Our bio-robots – based on living insects – are equipped with neural stimulation, sensors, and secure communication modules," said CEO Stefan Wilhelm. "They can be steered individually or operate autonomously in swarms. In the first half of the 20th century, German scientists pioneered many military technologies that became global standards, from ballistic missiles to jet aircraft and guided weapons. But following its defeat in World War II, Germany was demilitarised and its scientific talent was dispersed. Wernher von Braun, who invented the first ballistic missile for the Nazis, was one of hundreds of German scientists and engineers transported to the United States in the wake of World War II, where he later worked at NASA and developed the rocket that took Apollo spacecraft to the Moon. In recent decades, defence innovation has been a powerful driver of economic progress. Tech like the Internet, GPS, semiconductors and jet engines originated in military research programs before transforming civilian life. Hit by high energy prices, a slowdown in demand for its exports and competition from China, Germany's US$4.75 trillion (RM20.03 trillion) economy contracted over the last two years. Expanding military research could provide an economic fillip. "We just need to get to this mindset: a strong defense industrial base means a strong economy and innovation on steroids," said Markus Federle, managing partner at defence-focused investment firm Tholus Capital. Escaping the 'valley of death' Risk aversion among European investors had in the past disadvantaged startups, which struggled to get the capital they need to survive the 'valley of death' – the critical early stage when costs are high and sales low. But a boost in defence spending by European governments following Russia's invasion of Ukraine has investors looking for opportunities. Europe now boasts three start-ups with a unicorn valuation of more than US$1bil (RM4.22bil): Helsing, German drone maker Quantum Systems, and Portugal's Tekever, which also manufactures drones. "There's a lot of pressure now on Germany being the lead nation of the European defense," said Sven Kruck, Quantum's chief strategy officer. Germany has become Ukraine's second-biggest military backer after the United States. Orders that might once have taken years to approve now take months and European startups have had the opportunity to test their products quickly in the field, several sources said. Venture capital funding of European defence tech hit US$1bil (RM4.22bil) in 2024, up from a modest US$373mil (RM 1.57bil) in 2022, and is expected to surge even more this year. "Society has recognised that we have to defend our democracies," said Christian Saller, general partner at HV Capital, an investor in both ARX and Quantum Systems. Venture capital funding has grown faster in Germany than elsewhere, according to a data analysis by Dealroom for Reuters. German defence startups have received US$1.4bil (RM5.90bil) in the last five years from investors, followed by UK, the data shows. Jack Wang, partner at venture capital firm Project A, said many German defence startups – rooted in the country's engineering prowess – are good at integrating established components into scalable systems. "Quality of talent in Europe is extremely high, but as a whole, there's no better country, no better talent that we've seen other than in Germany," he said. Weakness in Germany's automotive industry means there is production capacity to spare, including in the Mittelstand: the small and medium-sized enterprises (SMEs) that form the backbone of Germany's economy. Stefan Thumann, CEO of Bavarian startup Donaustahl, which produces loitering munitions, said he receives three to five applications daily from workers at automotive companies. "The startups just need the brains to do the engineering and prototyping," he said. "And the German Mittelstand will be their muscles." – Reuters
Malaysian Reserve
4 days ago
- Malaysian Reserve
Agoda Ranks Asia's Most Affordable Summer Destinations for Hoteliers to Manage Yields from Deals
Surabaya tops the list for value-driven travelers based on the lowest average room rates across Asia's top destinations SINGAPORE, July 24, 2025 /PRNewswire/ — With value-driven travel gaining momentum across Asia, digital travel platform Agoda revealed its rankings of Asia's most affordable summer destinations led by Surabaya, Indonesia where average room rates are $35 per night*. This presents hoteliers with new opportunities to capture sustained demand and maximize returns even when offering competitive deals. Other top-value destinations include Tirupati (India), Hat Yai (Thailand), Dalat (Vietnam), Iloilo (Philippines), Kuching (Malaysia), Nagoya (Japan), Kaohsiung (Taiwan), and Daejeon (South Korea). Affordability is shaping summer travel choices This value-driven mindset is especially pronounced among millennials and Gen Z, who are increasingly prioritizing affordability in their summer travel plans. Both demographics share similar habits when it comes to budgeting for travel, particularly for accommodation. More than half of Gen Z travelers (56%) aim to keep their nightly stay below USD 50 per person, a preference that's also common among millennials, though at a slightly lower rate (44%). Beyond price, these younger travelers are also seeking experiences that offer meaningful value, making affordable yet enriching destinations especially appealing. Yield management opportunities accommodation partners can benefit from Affordability doesn't necessarily mean lower yields. Using Agoda's dynamic pricing and tech solutions, hoteliers can look to capitalize on different types of traveler demand as well as upsell local experiences and bundle value-added services. For example, partners can create summer budget packages that combine multi-location room rates with curated activities such as food tours or cultural excursions, increasing both booking value and guest satisfaction. Offering flexible cancellation policies and diverse payment options can better position hoteliers to meet the expectations of today's digitally savvy travelers. This approach is likely to become increasingly relevant as online sales are projected to account for 75% of Asia's travel revenue by 2029, according to Statista. Alongside catering to budget travel, hoteliers and accommodation partners can turn Agoda's data-driven insights into tangible strategies that boost bookings and drive revenue by tapping into other key motivators – culinary experiences and solo adventures: Capitalizing on culinary demand with value driven packages: Travelers from South Korea, Japan, Thailand, and Taiwan consistently rank food among their top travel motivators. Hoteliers can tap into this by collaborating with local chefs, launching seasonal menus, or hosting pop-up dining experiences. Bundling these culinary offerings with affordable room rates and curated local activities adds experiential value, ideal for budget-conscious travelers seeking more than just a place to stay. Capturing the rise of solo travelers with budget-friendly and short-lead promotions: Solo travel is also trending, with Agoda's Women Travel Trends survey showing Hong Kong and Thai women lead among Asian women in seeking independent adventures. Younger demographics, in particular, tend to book last minute and are often looking for affordable options, as reported in Agoda's Gen Z travel trends survey. This presents a timely opportunity for hoteliers to launch targeted, time-sensitive promotions during peak departure months (July to October), tailored to single travelers seeking spontaneous getaways. By offering special solo rates, value-added perks or last minute booking packages, hoteliers can further entice budget-conscious solo travelers. 'Today's travelers are increasingly prioritizing value-driven experiences, particularly among younger, price-conscious demographics,' said Andrew Smith, Senior Vice President of Supply, Agoda. 'For hotels and airlines, this presents a powerful opportunity to engage guests across the full travel journey by delivering personalized, data-informed value that drives both loyalty and repeat bookings.' Agoda's data-driven approach gives accommodation partners the tools to move beyond simply offering the 'best deals.' Offering dynamic pricing, packaging, and targeted marketing on the Agoda platform can help partners turn demand for affordable destinations into higher yields and stronger guest loyalty. With over 5 million holiday properties, more than 130,000 flight routes, and over 300,000 activities, Agoda provides endless possibilities for creating unforgettable travel experiences. For more insights on how to optimize strategic hotel initiatives this summer, visit — ENDS —
