28/03/2025

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FRIDAY | MAR 28, 2025

Agrobank’s disbursement in 2024 hits record high RM10.44b KUALA LUMPUR: Agrobank achieved a record-high disbursement of RM10.44 billion in 2024, marking 25.46% year-on-year growth compared to the 15.97% growth recorded in 2023. Agrobank’s president/CEO Tengku Ahmad Badli Shah Raja Hussin said the bank’s total financing expanded by RM1.21 billion, a 72.08% increase over 2023’s growth. “The growth was driven by strong performances across three key segments – the SME segment, which closed at RM547.68 million (161.08% above target); the Ar-Rahnu segment at RM186.92 million (155.76% above target); and the micro segment with RM181.21 million (100.67% above target),“ he said during Agrobank’s 2024 performance review and 2025 direction media conference on Wednesday night. He commented, “Our disbursements showed significant growth, reflecting our unwavering support for the development of Malaysia’s agriculture sector.” He said deposit balance also showed healthy growth to RM13.25 billion, the highest in five years. “Our strong performance in deposit taking activities is reflected in our CASA (current account savings account) ratio which stood at 44% over total deposits, outperforming the banking industry’s average at 31%.” Total income reached RM1.26 billion with 9.32% year-on-year growth – the highest in the last three years. “This achievement was enabled by steady growth in financing and ancillary income from investments (up by 22.8%), recovery efforts (up by 9.67%), as well as fee-based income (up by 9.95%),” said Tengku Ahmad Badli Shah. As the bank advances into 2025, he said, it is intensifying efforts across four inter connected areas. First, it will expand initiatives to catalyse the modernisation of the agriculture sector through affordable financial solutions and programmes, which would encourage the adoption of smart farming technologies, precision agriculture systems and Industry 4.0 capabilities. Second, it will deepen commitment to financial inclusion by exploring the expansion of takaful solutions to agricultural sectors beyond paddy and enhancing their service offerings to achieve greater reach. Third, it will continue to foster the transition of the agriculture sector towards more sustainable activities and integrate climate risk assessment into their core lending practices. Finally, it is committed to attracting and nurturing diverse talent who will continue to advance Agrobank’s developmental agenda in the agriculture sector. “Through these strategic priorities, Agrobank aims to catalyse a more resilient, inclusive and technology-driven agricultural sector while ensuring environmental stewardship and community development remain central to our mission,” said Tengku Ahmad Badli Shah. █ BY HAYATUN RAZAK sunbiz@thesundaily.com

U Mobile appoints Kenneth Chang as new deputy CEO PETALING JAYA Mobile telecommuni cation services provider U Mobile is setting the stage for its next phase of expansion with the appointment of Kenneth Chang ( pic ) as its new deputy CEO. net industries. As a founding director of U Mobile, he has significantly influenced the company’s strategic development, notably securing its 3G licence and contributing actively to its growth. vital role in the growth and develop ment of the company. “His broad experience and ex

pertise will be invaluable as U Mobile embarks on a new phase of growth as the future licensed 5G network facilities provider,“ U Mobile CEO Wong Heang Tuck said. In addition to his responsibilities at U Mobile, Chang is the founder and executive director of Web Commerce Communications Ltd and Qinetics Solutions Sdn Bhd. Both companies specialises in internet services and enterprise solutions throughout the Asia-Pacific region.

Chang will continue to serve on the board of directors, a position he has held since 2006. Over the years, he has also been part of the company’s executive, audit and remuneration committees. “We are delighted to welcome Chang as deputy CEO. Chang has been a key member of U Mobile since the company’s inception and has played a

As deputy CEO, Chang will be responsible for critical areas including regulatory affairs, business strategy, communications, and sustainability. He will also lead strategic stakeholder engagement, steering U Mobile through an evolving business environment. Chang brings more than 30 years of experience in the information and communications technology and inter

LUMPUR: IGEM 2025 aims to generate RM5.5b in business leads o This year’s edition aims to attract 250 exhibitors with 500 booths and participants from 50 countries █ BY AIMIE SHAZRIE sunbiz@thesundaily.com

KUALA International Greentech & Eco Products Exhibition & Conference Malaysia 2025 (IGEM 2025) is set to generate RM5.5 billion in business leads as it returns for its 16th edition from Oct 15 to 17, focusing on green technology, sustainability and regional leadership in climate action. Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad announced IGEM 2025’s targets during its soft launch yesterday, reaffirming the event’s role as a premier platform for industry leaders, policymakers and stakeholders to drive the transition towards a net-zero future. “Organised by the Ministry in collaboration with the Malaysian Green Technology and Climate Change Corporation (MGTC), IGEM 2025 aims to attract 250 exhibitors with 500 exhibition booths and welcome participants from 50 countries. “This year’s theme, Race Towards Net Zero: Inclusivity and Sustainability, highlights Malaysia’s commitment to sustainable growth and climate resilience. “These ambitious goals build upon the remarkable success of IGEM 2024, which exceeded all expectations by securing RM10.182 billion in business leads, attracting 500 exhibitors, and drawing participants from 68 countries, including China, Sweden, Singapore, South Korea, Japan and Thailand,” Nik Nazmi said. He emphasised that industry collaboration remains key in driving sustainability efforts and fostering economic resilience. “I hope to see more organisations and countries participate in this year’s IGEM. With this shared vision, let us continue to push boundaries, forge new partnerships, and advance bold solutions to create a sustainable, prosperous, and resilient future for all,” he said. Additionally, the Malaysian Investment Development Authority (Mida), under the Investment, Trade and Industry Ministry (Miti), has played a significant role in boosting Malaysia’s green economy, securing RM6.3 billion in potential investment leads during IGEM 2024 – the highest business lead achievement since the exhibition’s inception. Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the event has become a crucial driver of investment confidence. “The steady rise in IGEM’s investment The

Nik Nazmi (centre) at the soft launch of International Greentech & Eco Products Exhibition & Conference Malaysia 2025 yesterday.

of Kuala Lumpur Sustainability Summit, bringing together thought leaders to discuss pressing issues related to climate change and sustainability. The summit will support Asean’s commit ment to a sustainable and resilient future, reinforcing Malaysia’s role in regional environ mental stewardship. Visitors to IGEM 2025 can also look forward to the third Malaysia Carbon Market Forum, organised by Bursa Malaysia under the theme Empowering Regional Climate Actions through the Asean Common Carbon Frame work, with the aim to enhance regional co operation on carbon market strategies, strengthening Malaysia’s position in global carbon trading. Since its inception, IGEM has established itself as a driving force in the green economy, attracting over 670,000 visitors from 126 countries and generating more than RM58 billion in business leads over the past 15 years.

leads, from RM3.08 billion in 2020 to RM6.3 billion in 2024, demonstrates the increasing confidence in Malaysia’s green economy. “Mida, in close partnership with MGTC, remains committed to attracting high-value green investments, solidifying Malaysia’s status as a leading sustainability hub. This is a call to all of us to join hands and hearts in taking our nation’s green economy forward.” Mida has seen a strong pipeline of companies submitting investment proposals, with many actively engaged in discussions on sustainable projects, Sikh Shamsul Ibrahim said. “The agency is focusing on business purpose incentives designed to attract high impact projects with substantial investment value, further positioning Malaysia as a regional leader in green investments.” As Malaysia assumes the Asean chair manship, IGEM 2025 is expected to serve as a key platform to showcase the nation’s leader ship in green solutions across the region. The event will coincide with the first edition