Latest news with #SIBS
Yahoo
17-07-2025
- Business
- Yahoo
SIBS and Berjaya Land Group sign MoU for housing project in Nuuk, Greenland
SIBS and Berjaya Land Group have signed a memorandum of understanding (MoU) to construct sustainable modular homes in Nuuk, Greenland. This agreement represents a strategic effort to introduce innovative housing solutions to a new geographical area. The initiative is currently in the design and planning stages and will be managed by Berjaya Land's subsidiary Berjaya Greenland Invest. The project has a gross development value estimated at RM170m ($40m) and is set to include 66 apartment units across eight separate blocks. Construction activities are expected to start in early 2026, with SIBS aiming to complete the project by July 2026. The partnership intends to employ modular construction methods, which are recognised for their potential to enhance efficiency and reduce costs in the building process. The development is anticipated to contribute positively to the local economy by creating job opportunities and supporting local contractors. Additionally, Berjaya Land is assessing the feasibility of incorporating a hotel and residential facilities within the project to cater to the increasing demands of Greenland's tourism sector. In May this year, SIBS reached an agreement with a real-estate developer in Asia-Pacific (APAC) to deliver up to 2,000 housing units annually. This long-term collaboration represents an advancement in meeting the increasing need for quality and adaptable housing in both urban and regional areas of APAC. These units will be constructed using SIBS' manufacturing systems, ensuring compliance with local regulations. "SIBS and Berjaya Land Group sign MoU for housing project in Nuuk, Greenland" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
15-07-2025
- Business
- Finextra
MB Way enables NFC payments on iPhone
MB WAY, Portugal's leading mobile payment app, is now the first euro-denominated application in Europe to offer NFC (Near Field Communication) payments on iOS devices. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. iPhone users can now make secure, contactless payments directly with MB WAY, marking a significant step forward in the evolution of mobile payments in Europe. This development follows the enforcement of the EU's Digital Markets Act (DMA), which requires Apple to grant third-party apps access to the iPhone's NFC chip - a functionality previously restricted to Apple Pay. With this update, MB WAY users on iOS can now enjoy the same seamless contactless experience already available to Android users since 2017. 'This is a breakthrough moment for digital payments in Portugal and across the EU,' says Madalena Cascais Tomé, CEO of SIBS. 'By enabling NFC payments on iPhone, MB WAY ensures a consistent and inclusive user experience across platforms - reinforcing our commitment to innovation, convenience, and freedom of choice. We believe this evolution strengthens the European digital economy and sets a precedent for fairer access to key mobile technologies. At SIBS, we remain focused on developing secure, interoperable, and future-proof solutions that simplify everyday life for people and businesses.' Launched by SIBS in 2015, MB WAY has grown into the comprehensive and most widely used mobile payment solution in the Euro Zone. It allows users to make instant transfers, shop online, create and manage virtual cards, split bills, and pay in-store via QR code or contactless technology. With more than 6,5 million users, more than 1bi transactions yearly, and widespread acceptance across PSPs and merchants, MB WAY has become the preferred consumer mobile solution in Portugal and plays a central role in the Europe's digital economy. With this new functionality, MB WAY further strengthens its position as a benchmark for user-centric, interoperable payment solutions in Europe. QR code payments remain available in the app and continue to offer a convenient alternative for everyday transactions. MB WAY and SIBS are also founding members of EuroPA (European Payments Alliance) - an initiative that brings together national payment solutions from across Europe to create a unified, interoperable payment network. The goal of EuroPA is to enable users to make cross-border payments using their local apps, fostering a more connected and competitive European payments landscape.
The Sun
10-07-2025
- Business
- The Sun
Selangor's 2024 GDP hits record RM432b
SHAH ALAM: Selangor continued to cement its position as Malaysia's economic powerhouse, recording a historic GDP of RM432.1 billion in 2024, the highest among all states. This milestone marks a significant leap from RM406.1 billion in 2023, making Selangor the first and only state to cross the RM400 billion threshold for the two-year running. This performance reaffirms Selangor's role as the leading contributor to the national economy, accounting for a stellar 26.2% of Malaysia's total GDP, an increase from 25.9% in the previous year. Selangor's economic resilience and upward momentum are further evidenced by a robust y-o-y GDP growth rate of 6.3%, outperforming the national average of 5.1%. In a statement, Invest Selangor said that this achievement reflects Selangor's strong economic fundamentals, sustained investor confidence and strategic efforts by the state to drive high-impact, inclusive and sustainable growth. It added Selangor continues to chart the way forward, contributing an impressive 32.9% to Malaysia's total manufacturing output and reaffirming its position as the nation's leading industrial powerhouse. Selangor also leads in the services sector, contributing 26.9% to Malaysia's overall performance in this segment. The services sector is the largest contributor to Selangor's GDP, accounting for 61.1% and growing by 6.3% to reach RM263.9 billion. This growth is supported by subsectors such as wholesale and retail trade, F&B and accommodation, utilities, transportation & storage and information & communications, finance and insurance services, real estate and business services. The second-largest contributor is the manufacturing sector which accounts for 29.1% and recorded a growth of 5.1% driven by subsectors such as electrical & electronics, vegetable & animal oils and fats, food processing, beverages and transport equipment. 'Our continued progress is a reflection of the collective commitment and hard work of all stakeholders from the public and private sectors to civil society and the rakyat. Together, we have built a thriving ecosystem that not only attracts investment, but also creates quality jobs and uplifts communities,' said Selangor Menteri Besar, Datuk Seri Amirudin Shari. The state's diverse economy saw significant contributions from the services, manufacturing, and primary sectors, further strengthening its appeal as an attractive top tier investment destination with future-ready infrastructure and a highly skilled workforce. Looking ahead, Selangor will continue to champion regional economic leadership through business platforms such as the Selangor International Business Summit 2025 (SIBS), taking place from Oct 8-11 at the Kuala Lumpur Convention Centre. Now in its 9th edition, SIBS has become one of Southeast Asia's premier trade and investment events, fostering business interaction and matching, knowledge exchange and global partnerships. 'Selangor's impressive GDP performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries,' said Invest Selangor Bhd CEO Datuk Hasan Azhari Idris.
New Straits Times
10-07-2025
- Business
- New Straits Times
Selangor hits record RM432.1bil GDP, retains top spot
KUALA LUMPUR: Selangor has strengthened its status as Malaysia's top economic contributor, charting a record-high gross domestic product (GDP) of RM432.1 billion in 2024. Invest Selangor Bhd reported that this is up from RM406.1 billion in 2023, making Selangor the only state to surpass RM400 billion in GDP for two consecutive years. The state's share of the national GDP also rose to 26.2 per cent, compared to 25.9 per cent in the previous year. Selangor's GDP expanded by 6.3 per cent year-on-year, outpacing the national growth rate of 5.1 per cent and reflecting the state's broad-based economic strength underpinned by solid fundamentals and sustained investor interest. Selangor also accounted for 32.9 per cent of Malaysia's total manufacturing output, reaffirming its role as a key industrial hub, while leading the services sector with a 26.9 per cent share of the national total. The services sector remained Selangor's main growth driver, contributing 61.1 per cent to its GDP and expanding by 6.3 per cent to RM263.9 billion. Growth was driven by subsectors such as wholesale and retail trade, food and beverages, accommodation, utilities, transportation and storage, and information and communications, and finance and insurance, as well as real estate and business services. Manufacturing was the second-largest contributor at 29.1 per cent, registering a 5.1 per cent increase. Key drivers included electrical & electronics, vegetable & animal oils and fats, food processing, beverages and transport equipment. Selangor chief minister Datuk Seri Amirudin Shari said Selangor's continued progress is a reflection of the collective commitment and hard work of all stakeholders from the public and private sectors to civil society and the rakyat. "Together, we have built a thriving ecosystem that not only attracts investment but also creates quality jobs and uplifts communities," he said in a statement today. Selangor's diversified economy saw significant contributions from the services, manufacturing, and primary sectors, reinforcing its position as a top-tier investment destination with strong infrastructure and a skilled workforce. Looking ahead, the state aims to maintain its regional economic leadership through business platforms like the Selangor International Business Summit (SIBS) 2025, which will be held from Oct 8 to 11 at the Kuala Lumpur Convention Centre. Now in its ninth edition, SIBS has become one of Southeast Asia's premier trade and investment events, facilitating business interaction and matching, knowledge exchange, and global partnerships. Selangor also remains focused on collaborative, data-driven, and innovation-led strategies to build a resilient, inclusive, and high-performing economy. Invest Selangor's chief executive officer said Selangor's impressive GDP performance is the result of long-term planning and targeted initiatives to attract quality investments across high-growth industries. "At Invest Selangor, we are focused on facilitating sustainable, innovation-driven investment while enhancing Selangor's global competitiveness. "This October, SIBS 2025 will once again serve as a powerful platform to showcase Selangor's economic strengths and connect investors with real opportunities," he said.
New Straits Times
16-06-2025
- Business
- New Straits Times
Berjaya Land enters Greenland with RM170mil apartment project
KUALA LUMPUR: Berjaya Land Bhd, a subsidiary of Berjaya Corporation, is making its first foray into Greenland with an apartment project in Nuuk, marking the group's expansion into the Arctic region. This strategic move aligns with Berjaya's long-term vision of global diversification and builds on its 2019 acquisition of a 75 per cent stake in Icelandair Hotels ehf for RM223.1 million, strengthening the group's presence in the North Atlantic tourism corridor. Through close engagement with the Municipality of Nuuk, Berjaya Land identified a pressing housing shortage in the city. In response, its wholly owned subsidiary, Berjaya Greenland Invest A/S, secured land parcels to develop high-quality residential apartments tailored to Greenland's climate and infrastructure requirements. In a major step forward, Berjaya Land today signed a Memorandum of Understanding (MoU) with SIBS Sdn Bhd (SIBS), a Sweden-based modular construction company with a manufacturing facility in Penang. The partnership will leverage SIBS' advanced modular housing systems to deliver climate-resilient homes more efficiently and cost-effectively. "We are excited to move forward with this collaboration, which marks a key milestone in our efforts to deliver modern, practical housing solutions that meet real community needs," said Syed Ali Shahul Hameed, group chief executive officer (CEO) of Berjaya Land. He said the first phase of the development will feature 66 apartment units housed in two- to four-storey blocks, with a projected gross development value (GDV) of RM170 million. Syed Ali said that this project reflects Berjaya Land's broader vision of creating high-quality developments that are efficient, adaptable, and built with a long-term impact in mind. "Modular construction offers a smart and timely approach, allowing us to deliver faster and cost-effective homes while supporting local capacity-building. Our focus remains on developing spaces that not only serve today's needs but also lay the groundwork for resilient, connected communities in the years ahead." The housing initiative is currently in the planning and design phase, with launch targeted later this year. Beyond improving housing access, the project is expected to generate meaningful economic benefits, including job creation, local contractor involvement and long-term urban growth, Syed Ali said. He revealed that Berjaya Land is actively collaborating with the Municipality of Nuuk to explore the next phase of development, which may include a hotel and hotel residences to support Greenland's expanding tourism industry. With the opening of Nuuk's new international airport in November 2024, the city is set to emerge as a major Arctic destination, said Syed Ali. He added that Berjaya Land's planned hospitality investment aims to meet this anticipated demand while upholding strong principles of cultural sensitivity and environmental sustainability.
