10/10/2024

BIZ & FINANCE THURSDAY | OCT 10, 2024

FOLLOW

ON YOUTUBE

14

Malaysian Paper

/theSunMedia /

3REN unveils prospectus for listing on ACE Market

AutoCount Dotcom suggests 3 measures for Budget 2025 to push SME digitalisation PETALING JAYA: AutoCount Dotcom Bhd has outlined three key recommendations to be incorporated in Budget 2025 to spur digital transformation among small and medium-sized enterprises. The company said the recommendations align with the upcoming mandatory implementation of e-invoicing and the government’s broader goal to digitalise business operations across industries. First, AutoCount Dotcom calls for expanding digitalisation grants to assist SMEs and micro SMEs in adopting digital financial management systems. With e-invoicing set to become compulsory in 2025, many micro-SMEs and small enterprises may face challenges in modernising their financial operations. AutoCount Dotcom believes that by extending digitalisation grants, the government can help smaller businesses acquire the necessary software and technology to ensure they are well prepared for the e-invoicing mandate. Second, the company urges the government to introduce specific incentives for the adoption of e invoicing. These could include tax rebates or deductions for companies that integrate approved e-invoicing solutions into their operations. AutoCount Dotcom said such incentives encourage early adoption and help businesses transition smoothly into the new system. As a provider of cloud-based and on-premise accounting solutions, AutoCount Dotcom is positioned to support this transition, ensuring that companies of all sizes can meet regulatory requirements while improving their operational efficiency, the company said. Lastly, AutoCount Dotcom suggests introducing tax deductions or subsidies for businesses investing in cloud-based software and digital infrastructure. It said as cloud solutions become integral to business competitiveness, offering tax breaks for companies adopting cloud-native accounting, payroll, and point-of-sale systems would reduce the financial burden of digital transformation. “This initiative would allow more SMEs to upgrade their infrastructure, increase productivity, and improve data accessibility,“ the company said. Ireka secures RM1b job to upgrade part of Pan Borneo Highway in Sabah PETALING JAYA: Construction and property group Ireka Corporation Bhd has secured a RM1.07 billion contract to upgrade a section of the Pan Borneo Highway in Sabah. The award, granted by Gammerlite Sdn Bhd to Shoraka Construction Sdn Bhd (SCSB), a wholly owned subsidiary of Ireka, reinforces the group’s position in Malaysia’s construction sector. This contract is part of Projek Lebuhraya Pan Borneo Fasa 1B: Menaik Taraf Jalan Dari Kampung Lumou Baru Ke Kampung Toupus (WP33) and entails the government’s commitment to enhancing East Malaysia’s connectivity through the development of the Pan Borneo Highway. Ireka is tasked with upgrading the section from Kampung Lumou Baru to Kampung Toupus in Sabah. Ireka group managing director Datuk Mohd Hasnul Ismar Mohd Ismail said the company is honoured to be part of the Pan Borneo Highway project, which will significantly benefit Sabah’s economy and its people. The project is set to be completed over 48 months, starting from Sept 30, 2024.

KUALA LUMPUR: 3REN Bhd, an auto mation solutions and engineering services provider, has unveiled its initial public offering (IPO) prospectus for its listing on the ACE Market of Bursa Malaysia Securities, slated for Nov 6. In a statement, 3REN said the IPO will raise RM30.8 million through a public issue of 110 million new ordinary shares at an issue price of 28 sen per share, with 62.3% (RM19.2 million) of the proceeds allocated for business expansion and operational requirements. Business expansion consists of setting up delivery centres (23.4%, RM7.2 million), research and development expenditure (16.6%, RM5.1 million), establishment of a Singapore office (9.7%, RM3 million) and working capital (12.7%, RM3.9 million). Applications for the public issue portion of the IPO opened yesterday and will close on Oct 23. 3REN executive director and CEO Koh Dim Kuan said that as they look towards the horizon, they see potential for growth. The global semiconductor industry is set to continue expanding well into the next decade, driven by emerging technologies such as artificial intelligence, 5G adoption, and the Internet of Things. “This growth stimulus is further supported by the modernisation and transformation of manufacturing facilities towards Industry 4.0 and 5.0 technology. This enables smart factories and sustainable operations in addition to the increased outsourcing and relocation of manufacturing activities to o Automation, engineering services provider to raise RM30.8m through public issue of 110m new ordinary shares at 28 sen each Ű BY AIMIE SHAZRIE sunbiz@thesundaily.com

Koh (right) and 3REN head of finance Yeap Siew Wen at the press conference during the prospectus launch.

He noted that the government has laid out some incentive plans to support semi conductor design and development com panies, such as launching the IC design hub and digital hub in Penang. “With the launch of the IC design hub and digital hub in Penang, the government also has laid out some of the incentive plans to support the companies involved in IC design development,” he said. As for the company’s expansion plans, Koh confirmed that they are targeting to establish a sales and marketing office in Singapore by the first half of 2025.

Southeast Asia, which positions us favourably in capturing these unique opportunities,” he said in his speech at the IPO prospectus launch yesterday. Regarding Budget 2025, Koh said the company hopes the government will address the talent shortage faced by the industry. He mentioned that the government has announced the National Semiconductor Strategy and that the prime minister’s recent visit to Kulim has given them the opportunity to discuss talent issues. “The talent issue has been highlighted very well to him, and he is aware of the challenges. So we believe that issue will be addressed according to the upcoming budget. We are very excited and looking forward to hearing the announcement,” Koh said in a press conference at the event. from buildings comes from ‘operational carbon’ that is produced by the building in use, including from lighting, cooling, and energy,” he noted Quah suggested retrofitting aging buildings with advanced technologies that attract better tenants and increase property values, on top of extending their lifespan with more sustainable growth. He said one of the critical elements of this building modernisation effort is upgrading older Building Management Systems (BMS). “Outdated BMS pose serious risks, compromising the efficiency and safety of buildings and jeopardising business continuity. Today’s advanced BMS can future-proof a facility and meet the industry’s evolving demands, including efficiency, sustainability, health, comfort, and enhanced technical capabilities like loT, cloud computing, Al, and analytics. “These advancements offer deeper insights and allow for more precise control at the room level, rather than just providing an overall view of an entire floor,” said Quah.

“We are looking at the first half of 2025 to establish our Singapore office, and at this time, we are serving some customers in Singapore. Our main commitment is to get closer with them,” he said. ‘Modernise aging buildings to cut carbon emissions’

KUALA LUMPUR: Owners of older properties must prioritise retrofitting their buildings to lower carbon emissions, said Schneider Electric Malaysia country president Eugene Quah ( pic ).

He remarked that building owners can leverage analytics monitoring software to enhance their BMS’s operational performance, enabling remote and proactive building maintenance. Furthermore, Quah said, the current pace of decarbonisation is insufficient to meet the net-zero targets by 2050, and challenges remain in advancing energy management and efficiency into the very fabric of business operations. “A report from PwC revealed that Malaysia’s decarbonisation rate is progressing at just 2.5% annually, far below the 7.2% needed to meet the Paris Agreement’s nationally determined contributions. “At Schneider Electric, we are dedicated to helping businesses drive the transition to intelligent infrastructure that supports Malaysia’s sustainable development goals. “We have identified three important steps; strategise, digitise, and decarbonise with ten associated priorities that help building owners to bridge their net-zero ambition and efforts in decarbonising and futureproofing their buildings and its systems,” he added. - by AIMIE SHAZRIE

With half of today’s buildings expected to remain in use by 2050, he said, owners of older properties must emphasise retrofitting efforts and replace outdated systems as they consume excessive energy and contribute to carbon emissions. “Technology-focused retrofits that rely on modern digital and power management solutions, can cut life-cycle carbon emissions by as much as 83% and reduce usage

of energy in buildings by 50%,” he said at Schneider Electric Innovation Day Kuala Lumpur 2024, held at Kuala Lumpur Convention Centre on Tuesday. He said the building sector is by far the largest emitter of global greenhouse gases, accounting for 37% of the overall CO2 emissions. “About 70% of the total CO2 emissions