Sarawak named among world's top transitioning industrial clusters by WEF
Premier Tan Sri Abang Johari Tun Openg attributed this achievement to the state's focus on sustainable energy development.
'Last month, I was invited to speak at the World Economic Forum - Summer Davos 2025. However, as my wife was unwell, I sent Sarawak Minister of Utilities and Telecommunications, Datuk Seri Julaihi Narawi, as my representative,' said Abang Johari during the Marina bridge groundbreaking ceremony.
He noted that the speaking slot was later given to Singapore's Prime Minister, reflecting Sarawak's growing global influence.
'This shows that Sarawak is now recognised at the global leadership level. Insya-Allah, I will be invited to Davos for the next session,' he added.
The Premier highlighted that Sarawak's progress stems from policies prioritising eco-friendly growth.
'Last week, in Japan, they praised our commitment to new energy solutions. We must sustain this momentum while ensuring development benefits the people,' he said, citing the RM400 million Marina bridge project in Miri as an example.
The Public Works Department (JKR) stated that the bridge, linking Miri Marina to Miri Peninsula, will shorten travel distances significantly—from 10 km to just 2 km—and reduce travel time from 25 minutes to five.
Contracting for the project is expected in Q4 2025. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Data centres to bolster YTL Power
CIMB Research reduced its 2025 to 2027 core net profit forecasts for YTL Power by between 7% and 17%. PETALING JAYA: Despite a cut in YTL Power International Bhd 's overall profit forecasts, CIMB Research is still upbeat on the group's data centre business. The research house raised its forecast on earnings before interest, taxes, depreciation and amortisation (Ebitda) margins for YTL Power's co-located data centre segment. 'Its 160 megawatt (MW) of new capacity is factored in for YTL Power's financial years 2027 (FY27) and FY28 and upon gaining better understanding of the company's operating expenditure, we believe our previous 50% Ebitda margin assumption for the co-located data centre business was too conservative. 'Consequently, we have raised this forecast to 70%. Additionally all its existing capacity of 188MW has been leased out,' CIMB Research said. The research house said it believes YTL Power will soon start developing new phases for this segment of its business. 'We now assume an extra 160MW of capacity will go live in stages across FY27 and FY28. Thus, we project core net profit from co-located data centres will rise from RM115mil in FY26 to RM431mil by FY29. 'Excluding the 160MW in co located data centre expansion, YTL Power's fair value would be RM4.08,' the research house said. However, the research house cut its earnings forecast for the artificial intelligence (AI) data centre segment, now assuming 12MW is deployed on Nvidia's DGX Cloud from 20MW previously. The research house said YTL Power will use the remaining capacity to commercially offer its large language model and other AI solutions. Meanwhile, CIMB Research reduced its 2025 to 2027 core net profit forecasts for YTL Power by between 7% and 17%, bringing forward Ebitda per megawatt hour compression for Power Seraya but keeping long-term margins intact, while lowering AI data centre earnings. 'However, we maintain our 'buy' rating and raise YTL Power's target price by 14% to RM4.55 on higher fair value for the co-located data centre business and the Wessex Water business in Britain. Key rating catalysts are from the new 160MW co-located data centre expansion in FY27 and FY28,' the research house said. In addition, CIMB Research said projected strong Wessex Water earnings growth due to a 21% water tariff hike in Britain in April , and potential new Malaysian power plant projects also bode well for YTL Power.
The Star
2 hours ago
- The Star
More local retailers looking to adopt AI
The Adyen Retail Report 2025 noted that 58% of Malaysian consumers have used AI to assist with purchasing. — Reuters KUALA LUMPUR: Malaysian retailers are looking to invest more in artificial intelligence (AI) technology to drive retail performance, according to financial technology company Adyen Malaysia. The Adyen Retail Report 2025 noted that 58% of Malaysian consumers have used AI to assist with purchasing, compared with the global average of 37%. The findings reflect a growing shift in digital consumption habits and expectations for personalised retail experiences. Adyen Malaysia, a provider of end-to-end financial technology solutions, said the trend signals a move from digital convenience to digital intelligence. The company's country manager Soon Yean Lee said that Malaysia is seeing a shift from digital convenience to digital intelligence. 'We are likely entering an era where AI acts as a personal stylist or shopping assistant, curating outfits, surfacing new brands and tailoring suggestions to each individual,' he said during a briefing yesterday about the Adyen Index 2025 Malaysia Report. The report noted that 57% of Malaysian businesses plan to invest in technology that enhances the customer experience, either through new methods to make payments or self-service kiosks. The findings also said that, as part of efforts to boost efficiency and reduce friction, businesses are focusing on revamping the checkout process with features like queue-busting and one-click purchases to improve the experienc for customers. Commenting on AI as a strategic asset, Lee said 'retailers generate large volumes of payments data daily, and AI helps unlock this value to drive conversions at scale'. He added that AI-powered payment optimisation could improve success rates, reduce fraud and help identify genuine shoppers with minimal friction. Meanwhile, the report highlighted the growing importance of 'unified commerce', which is a retail strategy that integrates all sales channels into a cohesive system. At present, 52% of Malaysian businesses surveyed offer unified systems that integrate online and offline sales channels, while another 26% plan to adopt such platforms within the next 12 months. Unified commerce allows businesses to consolidate inventory, pricing and customer data into a single system. Lee added that the approach enables retailers to deliver more consistent service while also improving cost efficiency and operational control. Despite growing interest in digital tools, the report noted that many businesses continue to face challenges with data fragmentation and system integration. It said the effectiveness of AI will depend largely on the quality and connectedness of the data supporting it. The Adyen Retail Report 2025 includes responses from 1,000 consumers and 500 merchants in Malaysia. Adyen is a global financial technology platform that provides payment processing and related financial services for businesses. It acts as a merchant acquirer, offering a single platform for businesses to manage payments across various channels like online, mobile, and point-of-sale. The company is headquartered in Amsterdam and has offices around the world. Beyond Malaysia, the company's Annual Retail Report for this year shows Gen Z is the largest demographic using AI when shopping (57%), but data finds a 63% increase in older people using the technology year-on-year – the biggest increase in users globally. In a poll of 41,000 consumers across 28 countries, more than one in ten (12%) said they had used AI for the first time over the past 12 months to help them with their shopping experience. Additionally, an impressive 55% of people said they would be open to making purchases using AI technology in the future.
The Star
3 hours ago
- The Star
MISC and Bumi Armada to follow own path
MBSB Research said the end of the process had left management of both companies to pursue respective growth opportunities while retaining strategic autonomy. PETALING JAYA: The mutual termination of merger negotiations between MISC Bhd and Bumi Armada Bhd is not viewed negatively by analysts despite uncertainty about the direction of the companies. MBSB Research said the end of the process had left management of both companies to pursue respective growth opportunities while retaining strategic autonomy. 'We noted that MISC will retain full control of its offshore business strategy and pursue its growth plans without the complexity of an all-share transaction. This spared the group from potential shareholder dilution and integration costs due to the large-scale merger. 'As for Bumi Armada, this change allows the group to continue its independency on top of its strong order book,' the research house stated in a report following the announcement on Monday. In separate filings with the stock exchange on Monday, both companies announced they had mutually agreed not to proceed with their proposed merger, as the memorandum of understanding – inked on Nov 14 last year – between the two groups is set to lapse next Thursday. The non-binding share-based transaction had aimed to combine MISC's offshore business with Bumi Armada to create a leading Malaysian-based floating production storage and offloading entity. The research house said the failed talks suggested that MISC might be missing a growth opportunity, while Bumi Armada might lose synergy and access to extensive resources for the combined fleets. 'Nevertheless, we are looking at the bright side of this termination. 'For both MISC and Bumi Armada, we believe the potential merger may not be aligning to each other's long-term strategic objectives and will now focus on their own growth opportunities,' MBSB Research added.
