25/03/2025

BIZ & FINANCE TUESDAY | MAR 25, 2025

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IJM launches Malaysia’s first AI-powered security robot KUALA LUMPUR: IJM Corporation Bhd yesterday marked a new milestone in security technology with the official deployment of Malaysia’s first artificial intelligence (AI)-powered security robot at Menara Prudential in the Tun Razak Exchange (TRX).

24/7 monitoring with enhanced coverage and reduced blind spots. Co-Lab, developed by KABAM Robotics, has a battery life of seven hours per charge and features lift integration and site-map sharing capabilities, allowing it to navigate autonomously across multiple floors. Chong highlighted that unlike traditional CCTV cameras, which have fixed angles, the AI-powered robot offers eye-level monitoring, providing a more precise field of vision which enhances risk detection. “The robot can identify unauthorised individuals after office hours, detect smoking violations, and even monitor faulty escalators. “Once an anomaly is detected, the system immediately alerts security officers for quick response.” Currently, the company is testing the robot for indoor surveillance, with plans to extend its deployment to outdoor environments, he added. He emphasised that AI-driven security aligns with global trends, as many countries are increasingly leveraging robotics to enhance safety and operational efficiency. – Bernama

IJM group chief financial officer Datuk Edward Chong Sin Kiat said the initiative reflects the company’s vision to integrate AI into security operations, enhancing surveillance, efficiency and safety. “This is the first AI-powered security robot being deployed in the country, and we hope there will be more to come. “AI technology enables better surveillance, integrates with smart building systems, and allows security personnel to focus on ensuring people’s safety,“ he said at the launch here. Chong noted that IJM has adopted AI-driven security without increasing security costs. The AI-powered robot, named Co-Lab, is equipped with high definition cameras, advanced sensors and AI-driven analytics, providing

Co-Lab is equipped with high-definition cameras, advanced sensors and AI-driven analytics. – BERNAMAPIC

Foreign funds pull US$565m from Asian markets

T15 fuel subsidy criteria may lead to vehicle downgrade or EV shift: MIDF KUALA LUMPUR: The top 15% (T15) income bracket fuel subsidy eligibility criteria, to be finalised by mid-2025, may push some consumers to downgrade their vehicle choices or switch to electric vehicles (EVs), according to MIDF Research. In a note yesterday, it said the upcoming policy change may spur buyers to opt for lower-cost internal combustion engine (ICE) models or transition to EVs before tax exemptions for fully imported (CBU) EVs expire at the end of the year. “Meanwhile, the auto sector’s revised excise duty has been extended, which will expand duties on completely knocked down (CKD) components. “The tax, set to be effective January 2026, is expected to drive CKD car prices up by 10 to 30%,” MIDF Research said. On market performance, MIDF Research said February 2025’s total industry volume (TIV) had a 30.8% month-on-month rise to 63,906 units due to a longer working month and was broad-based in nature while year-on-year (y-o-y) saw a 1.7% fall. “This represents 14% of the full-year forecast of 792,000 units, a 3% y-o-y decline, in line with expectations amid an anticipated easing of order backlogs. “Honda’s auto sales more than doubled, Perodua rose 35% m-o-m, followed by Toyota (21.3%) and Proton (19.4%). In contrast, Mazda and Nissan saw declines of 9.8% and 16.2%, respectively. “Only Perodua and Honda recorded a y-o-y rise in TIV, up 14.9% and 12.6%, respectively,” it said, adding that March 2025 TIV is expected to see further m-o-m improvement, supported by promotional activities leading up to Hari Raya.” February’s total industry production (TIP) was 61,545 units, up 8.2% m-o-m but down 6.2% y-o y, bringing the year-to-date total to 118,444 units, a 16.4% fall from a year ago, it said. It has a “Neutral” stance, citing an anticipated downcycle. The projected 3% y-o-y decline in TIV was broadly in line with Malaysian Automotive Association’s 4.5% expected fall, it said. “Bermaz Auto remains the top pick,” it said. – Bernama

“This initiative is part of efforts to encourage more listings on the Philippine Stock Exchange, which has struggled with low trading volumes and a lack of new listings,” MIDF Amanah said. Conversely, Indonesia registered its ninth consecutive week of foreign outflows, amounting to US$432.1 million amid economic and trade fluctuations. “Indonesian stocks fell 1.6% last Friday, capping a challenging week as concerns over the country’s fiscal health, government policies, and declining demand dampened investor confidence. “The benchmark index has fallen over 11% this year, making it one of Asia’s worst performers. “The rupiah also weakened, marking its second consecutive weekly decline. “Market uncertainty grew due to the potential impact of US trade tariffs, prompting investors to seek safer assets like gold. “Most Asian currencies weakened, while regional stock markets showed mixed performance,” the bank shared. In Malaysia, the plantation sector recorded net foreign inflows of RM2.4 million last week, while foreign investors extended their selling streak on Bursa Malaysia for the

22nd consecutive week, with a net outflow of RM1.25 billion. “The net selling value declined slightly from RM1.34 billion in the previous week. “Foreign investors were net sellers on every trading day, with Wednesday witnessing the heaviest outflow at RM484.23 million. “On other days, outflows ranged from RM155.34 million to RM326.40 million,” the report stated. In contrast, local institutions continued to support the market, marking their 22nd consecutive week of net buying, with an inflow of RM1.23 billion. The financial services sector recorded the highest net foreign outflow at RM609.7 million, followed by industrial products and services (-RM167.9 million) and consumer products and services (-RM148.4 million). Local retail investors extended their net buying streak for a sixth straight week, recording an inflow of RM25.5 million. Meanwhile, the average daily trading volume declined across most segments except for foreign investors. Local institutions and retail investors saw declines of 11.9% and 14.8%, respectively, while foreign investors recorded an increase of 27.4%. – Bernama

o Local institutions and retail investors provide buying support in Malaysia Foreign investors remained net sellers across eight Asian markets, with total outflows reaching US$564.9 million (RM2.5 billion) last week. According to MIDF Amanah Investment Bank Bhd’s Fund Flow Report, titled From Growth to Gridlock , South Korea led the region with a net inflow of US$1.68 billion, marking a sharp reversal after nine consecutive weeks of outflows. “The only countries that recorded net foreign inflows were South Korea and the Philippines, while other regional markets continued to experience outflows,” the bank said. The Philippines recorded a net inflow of US$40.1 million for the third consecutive week, following its securities regulator’s signal of openness to reducing the 20% minimum public float requirement for initial public offerings, potentially attracting more listings. KUALA LUMPUR:

Advancecon secures RM56.6 million infrastructure works contract PETALING JAYA: Advancecon Holdings Bhd (Advcon), a specialist in earthworks and civil engineering services, wholly-owned subsidiary, Advancecon Infra Sdn Bhd, has been awarded a Letter of Award (LoA) valued at RM56.64 million for the construction and completion of site clearing, earthworks, erosion and sediment control, water reservoir embankment, and other ancillary works at Ladang Londah, Mukim Gemas, Negeri Sembilan. subsidiary of Fraser & Neave Holdings Bhd, with a project completion timeline of 10 months from the date of site possession. With this contract, the group’s outstanding order book has now increased to RM729.64 million, further strengthening its earnings visibility. “Our team remains committed to ensuring the timely execution of the project while maintaining the highest standards of quality, safety, and environmental sustainability,” group CEO Datuk Phum Ang Kia said. “We look forward to supporting F&N Agrivalley in the successful completion of this project.” The project will be executed in multiple phases, focusing on comprehensive site preparation, environmental protection measures and efficient water reservoir embankment construction. With a robust order book and a strong pipeline of opportunities, Advcon said they remain steadfast in its commitment to driving sustainable growth and delivering long-term value to its stakeholders. The contract was awarded by F&N Agrivalley Sdn Bhd, a direct wholly-owned