18/03/2025

BIZ & FINANCE TUESDAY | MAR 18, 2025

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IFC, Cagamas in pact to drive green building finance in Malaysia PETALING JAYA: International Finance Corpo ration (IFC), the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group, has signed a memorandum of understanding with national mortgage corpo ration Cagamas Bhd to advance green building finance in Malaysia.

Ekuinas invests in cybersecurity service provider PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) has invested in Bluesify Solutions Sdn Bhd, a local managed security service provider. The investment, made via Ekuinas’ Dana Asas I, reiterates Ekuinas’ continued commit ment to accelerate the growth of Bumi putera companies in strategic sectors. Established in 2012, Bluesify offers an end-to-end suite of cybersecurity solutions, including 24/7 managed cyber detection and response centre, managed threat intelli gence and threat hunting, cyber incident response services and cyber resilience and consulting services. The company serves a growing portfolio of blue-chip clients covering financial ins titutions, energy and infrastructure, health care, government and statutory bodies. Ekuinas CEO Datuk Syed Yasir Arafat Syed Abd Kadir said, “Cyberattacks have signi ficantly increased in both scale and sophistication, impacting businesses and individuals alike. Our investment in Bluesify is a crucial step towards fortifying Malaysia’s cybersecurity landscape and ensuring businesses have the protection they need against escalating digital threats.” With their growth capital, he added, Bluesify is set to support the nation’s cyber security needs through further expansion of service offerings across the entire cyber security lifecycle and scaling up of its Managed Detection and Response Centre. At the same time, he said the company aims to expand its footprint in regional markets, catering to the rising demand for advanced security solutions across South east Asia. “Through Bluesify, Ekuinas will be able to capitalise on the fast-growing cyber-security industry in Southeast Asia, which projected to grow at a compound annual growth rate of 9.5% from US$4.9 billion (RM 21.8 billion) in 2025 to US$7.1 billion (RM 31.3 billion) in 2029,” said Syed Yasir Arafat. Bluesify managing director Izman Ibrahim said: “This investment marks a transformative milestone for Bluesify. We look forward to working with Ekuinas to take Bluesify to the next phase of growth. “Our unwavering commitment is to deliver cutting-edge, expert-driven, AI based cybersecurity services that provide our clients with the highest level of pro tection in an ever-evolving digital land scape.” The investment comes at a pivotal time following the enactment of Malaysia’s Cyber Security Act 2024, which mandates licen sing for cybersecurity service providers and stricter regulatory compliance for business entities who are owners and operators of National Critical Information Infrastructure. commitments under the Paris Agreement,” she added. Cagamas president and CEO Kameel Abdul Halim said the collaboration marks another milestone in their commitment to driving sustainable development to promote green and affordable housing for all Malaysians. “At Cagamas, we understand that the transition to green practices across sectors requires significant financial resources and innovative approaches. Through this part nership, we aim to expand access to green mortgage options and collaborate with financial institutions to create a more inclusive and sustainable housing market that contributes to a greener Malaysia,” he added. This collaboration is the first engagement in the green building sector in Malaysia for IFC, which established a presence in the country in 2023.

dialogue and knowledge exchange on addressing barriers to sustainable housing development between the public sector and banking sector, among other initiatives. The collaboration also seeks to make green housing more affordable and accessible to lower-income groups and women in Malaysia by growing the market for green mortgage products and addressing other housing finance gaps. Expanding the growing market for green building finance is essential for Malaysia to realise its goal of achieving net-zero emissions by 2050, presenting significant opportunities in

this sector. “We are delighted to collaborate with Cagamas on this engagement, which will play a critical role in supporting not only the increasing need for green housing in Malaysia, but also the country’s inclusivity agenda,” said World Bank Group in Malaysia country manager Judith Green. “Together, we aim to improve access to housing and reduce emissions, encouraging climate smart investment in the building sector, and strengthen the financial sector’s capacity to support Malaysia in achieving its climate

The collaboration aims to promote climate smart investments in the housing and broader building sector and improve the capacity of financial institutions to issue green building finance products aligned with Malaysia’s climate goals, including green bonds, green credit lines, and financing for sustainable cooling tech nologies. It also aims to help financial institutions to build pipelines of bankable projects and manage environmental, social and climate risks in the building sector, as well as facilitating

Palm oil inventories fall to near 2-year low in February o CPO prices to fluctuate between RM4,000 and RM4,600 this month, says MPOC

million tonnes recorded between 2021 and 2024. Among major biodiesel producers, Indonesia is expected to be the only country where biodiesel production and consumption will continue to expand, while other regions are likely to experience either stagnation or contraction. Since the Trump administration took office, US biodiesel and hydrotreated vegetable oil (HVO) production in January 2025 has seen a notable downturn, dropping to its lowest level in 22 months, while imports have nearly come to a halt due to unclear biofuel policies. US biodiesel and HVO production grew from 10 million tonnes in 2022 to 16 million tonnes in 2024, a 60% increase over the three years. However, it is unlikely that production will reach 16 million tonnes in 2025 due to evolving political framework. Given these developments, palm oil prices are expected to trade in rangebound in the coming weeks as market participants speculate on export availability from Malaysia and Indonesia, amid a gradual production recovery from March onwards as the monsoon season concludes. Additionally, MPOC said negative growth in vegetable oil consumption for energy purposes means any demand expansion in 2025 will need to come from food and non energy sectors. This shift in demand dynamics could limit the potential for a price rally in vegetable oils.

PETALING JAYA: Malaysia’s palm oil inventories fell to 1.51 million tonnes in February 2025, the lowest level since April 2023, according to the Malaysian Palm Oil Council (MPOC). It said in a statement yesterday, palm oil production from January to February 2025 hit a three year low at 2.42 million tonnes, compared to 2.66 million tonnes in 2024 and 2.63 million tonnes in 2023. “The decline in production was driven by harvest delays due to heavy rainfall and exhausted oil palm trees following strong production in early 2024. A recovery in year over-year production growth is expected only from August onwards,” said the council. Looking at March, it said crude palm oil prices are projected to fluctuate between RM4,400 and RM4,600, influenced by increased competition from abundant and competitively priced soybean oil in the global market. “High palm oil price and tight export supplies have impacted consumption in key markets such as India and China, particularly in the first two months of 2025. For the first time in years, India’s palm oil imports from January to February 2025 dropped to just 648,000 tonnes, falling behind soybean oil

imports at 727,000 tonnes,” said MPOC. Meanwhile, China has been importing only its core palm oil demand, averaging 300,000 tonnes per month in 2024. Despite weaker demand from traditional markets, palm oil has remained the price leader in the first quarter of 2025, with exports shifting towards emerging markets in Sub Saharan Africa, driven by its annual population growth of 30 million. This trend is expected to continue throughout 2025, keeping Malaysian palm oil exports strong. Weak palm oil imports from December 2024 to February 2025 have caused India’s vegetable oil inventories to drop sharply. Despite a surge in soybean oil imports over the past three months, India has only partially replaced its palm oil demand. Given this scenario, there is optimism that India will increase palm oil imports in the coming weeks to replenish stocks, which would support palm oil prices. In recent years, global vegetable oil consumption growth has been heavily driven by rising biodiesel production. However, this trend is expected to reverse in 2025. Global biodiesel output is forecasted to decline by approximately half a million tonnes, a stark contrast to the annual increases of 3 to 6

AirAsia Malaysia to start flying to Darwin on June 27 PETALING JAYA: AirAsia Malaysia is expanding into Australia with a new route from Kuala Lumpur direct to Darwin, starting June 27.

AirAsia Malaysia CEO Datuk Captain Fareh Mazputra said:“We are thrilled to launch our very first flight to Darwin, creating greater opportunities for both leisure and business travellers to explore one of Australia’s most vibrant and unique destinations. At the same time, we are opening a new gateway to Asia and beyond for ‘Territorians’ in the Top End of Australia.” To celebrate this incredible milestone, AirAsia is offering special promotional fares with flights between Kuala Lumpur and Darwin, from as low as RM299 all-in one way while the return route from Darwin to Kuala Lumpur starts from A$189 (RM530) all in one way. All flights are available for booking from now until March 30 for travel between June 27 and Oct 25.

Since March 2024, the airline has been flying to Australia for the first time, between Kuala Lumpur and Perth, supporting sister airline AirAsia X, which also flies that route, due to strong demand. AirAsia Group (Malaysia and Indonesia) operates in Perth and Cairns whereas AirAsia X flies to Melbourne, Sydney and Perth. As a whole, the airline serves in four Australian cities and with Darwin joining the network from March 22, from Bali and June from Kuala Lumpur. Over the last year, the airline has carried over 600,000 passengers between both countries.

Fareh (left) and Cahill, flanked by AirAsia staff, at the launch of Kuala Lumpur-Darwin route by AirAsia Malaysia at Darwin Airport yesterday.