05/06/2025

BIZ & FINANCE THURSDAY | JUNE 5, 2025

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Halal International Selangor drives global market access, innovation KUALA LUMPUR: Halal International Selangor (HIS), a state-linked com pany under Menteri Besar Selangor Incorporated, is helping to shape the next frontier of halal, not merely as a standard but as an engine for market access, innovation and inclusive growth. and the Middle East expressed clear de mand for a partner capable of bridging technical rigour with real-time responsive ness. HIS offered logistics and transport corridors. “HIS builds on this foundation by foster ing partnerships that extend from industrial parks to international buyers, reinforcing that halal is no longer viewed purely as a religious or cultural attribute, but as a globally relevant assurance of quality, sustainability and ethical compliance,” said Muhammad Syaril. He noted that HIS is piloting blockchain-enabled traceability connected markets, certification alone is no longer enough. As Malaysia chairs Asean in 2025, the opportunity to deepen regional halal integration is within reach.

HIS’s work directly supports this vision, aligning Selangor’s local capabilities with national ambitions and Asean-wide aspirations, he said. “Whether through technical ex changes, digital partnerships, or trade dialogues, HIS is helping to position Malaysia as a centre of excellence for halal policy, practice, and innovation. It plays a defining role in shaping a halal ecosystem that is responsive, resilient, and globally aligned. “Through every partnership it builds and every enterprise it supports, HIS advances a vision of halal that is not static but strategic, a framework for growth, values, and shared prosperity in the future economy,” Muhammad Syaril said. – Bernama Bank Islam to retire GO app, bankislam.biz website effective June 28 KUALA LUMPUR: Bank Islam Malaysia Bhd will retire its legacy mobile banking app, GO, and internet banking platform www.bankislam.biz effective June 28. The bank said in a statement yesterday that since the November 2024 launch of the new and enhanced BIMB Mobile banking app and BIMB Web ( web.bimb.com ), over 90% of the existing user base have successfully migrated to the new digital banking platforms. “This overwhelming adop tion has fast-tracked the de commissioning deadline from Nov 28, 2025 to June 28, 2025, six months ahead of schedule, reinforcing Bank Islam’s commit ment to delivering a seamless and secure banking experience,” it said. Bank Islam said that to ensure uninterrupted access to its digital banking services, cus tomers are urged to transition to the new platforms immediately. “The upgraded and en hanced solutions offer im proved functionality, greater security including biometric login and secure transaction authentication and an intuitive interface, reflecting the bank’s commit-ment to continue digital innovation and cus tomer-centric service,” said Bank Islam. BIMB Mobile delivers a refreshed digital experience with a sleek interface, robust performance and strengthened safety features upgrades, including biometric login and secure transaction authenti cation. – Bernama

systems, exploring digital pathways for halal certification and working with Islamic finance partners to improve SME access to syariah compliant funding. “Equally important is the human dimension. HIS supports women-led SMEs entering food innovation sectors and mentors youth entre preneurs through the complexities of halal compliance. Its approach is inclusive and forward-looking, re cognising that halal is as much about community upliftment as it is about economic performance,” he noted. Muhammad Syaril shared that the global halal economy is accelerating past US$3 trillion (RM12.7 trillion), and in today’s competitive and inter

exactly that,” he said in a statement yesterday. Muhammad Syaril said HIS guides SMEs and exporters through the complex landscape of regional halal re quirements, helping them secure interna

Selangor’s position as a gateway for halal trade in Asean and beyond,” he said. At Expo 2025 Osaka, the company’s engagements went beyond promotional

HIS general manager Muhammad Syaril Showkat Ali said the company aims to blend policy alignment with commercial agility, translating Malaysia’s national halal agenda into tangible outcomes for businesses, investors and consumers across borders. HIS was among Malaysia’s most active participants in the business matching programme at Expo 2025 Osaka. “The engagements revealed a shift in global interest, from certification in isolation to integrated halal support encompassing compliance, logistics, and strategic positioning. “Stakeholders from Japan, Korea

efforts. Conversations with Japanese logistics providers, food-tech ventures and halal certification bodies were strategically focused, exploring cross border collaboration, traceability frameworks and the integration of halal standards into environmental, social and governance-linked trade initiatives. “This reflects a deeper recognition

tional accreditation and supporting their growth through tailored pro grammes that combine technical training, market insight and trade facilitation. “This role is especially crucial in Selangor, which boasts a diverse manufacturing base, a high con centration of halal-certified pro ducers, and close proximity to major

M’sian crude oil, condensate output stable in first quarter

natural gas (LNG) recorded a decrease to RM15.5 billion in the first quarter of 2025 compared to RM16.7 billion in the fourth quarter of 2024, with 46% exported to the Japan, followed by South Korea 24.3% and China 20.1%. The import value of crude petroleum and condensate declined to RM13.6 billion in the first quarter of 2025, compared to RM15.1 billion recorded in the fourth quarter of 2024. Saudi Arabia remained the dominant source country for crude petroleum and condensate imports, amounted to 52.7%, followed by the United Arab Emirates (15.2%) and Sudan (6%). The import value of refined petroleum products stood at RM23.2 billion, lower than RM25.4 billion recorded in the previous quarter, with Singapore remaining the largest contributor (42.5%), followed by South Korea (11.9%) and India (8.1%). LNG imports recorded a decline to RM1.9 billion (Q4’24: RM2.2 billion), with the entire amount imported from Australia.

compared to US$76.3 per barrel in the previous quarter. This price increased in line with the prices of WTI and Brent, which recorded US$71.8 per barrel (Q4’24: US$70.7 per barrel) and US$75.8 per barrel (Q4’4: US$74.6 per barrel), res pectively. Elaborating the performance of external trade, Mohd Uzir said, “The export value of crude petroleum and condensate increased to RM6.2 billion compared to RM6 billion in the previous quarter. Thailand led the exports of crude petroleum and condensate with RM1.9 billion or 30.9% of total exports, followed by Australia 26.1% and Japan 11.4%.” Meanwhile, the export value of refined petroleum products de clined to RM24.3 billion from RM26.5 billion in the previous quarter. Singapore remained the main recipient of refined petroleum pro duct exports, totalling RM6.9 billion or 28.3%, followed by Indonesia 21.4% and Australia 15.5%. The export value of liquefied

o Production totalled 45.5 million barrels, reflecting upstream sector’s resilience: Statistics Dept

PETALING Malaysia’s production of crude oil and condensate recorded a stable volume of 45.5 million barrels, reflecting the resilience of the upstream sector in navigating market uncertainties in the first quarter of 2025, the Department of Statistics Malaysia said in its report on the mining of petroleum and natural gas for the first three months of the year. Chief Statistician Malaysia, Datuk Seri Dr Mohd Uzir Mahidin said, “The crude oil and condensate production recorded 45.5 million barrels in the first quarter of 2025, registering a marginal negative growth of 5.2% year-on-year (Q4’24: -7.3%; 45.7 million barrels). This was supported by an improvement in JAYA:

production of crude oil, which showed signs of recovery with a smaller contraction of negative 6.5% compared to negative 9.3% in the previous quarter.” Meanwhile, condensate pro duction also recorded growth, but remained within the negative range at 2.4% compared to negative 2.5% in the previous period. However, natural gas production shrank by 2.2% year-on-year compared to 3.1% in the previous quarter with a total production of 781.9 billion cubic feet compared to 792.8 billion cubic feet in the fourth quarter of 2024. The Weighted Average Lifting Price for crude oil and condensate in Malaysia rose US$76.4 (RM324.7) per barrel in the first quarter of 2025,

Bateriku.com and RYDE EV unite to rev up electric mobility in Malaysia PETALING JAYA: In a strategic move to revolutionise the electric mobility landscape in Malaysia, Bateriku.com, a vehicle support ecosystem, has teamed up with RYDE EV, a key player in electric vehicle technology, to launch a transformative initiative at the Bateriku Pitstop in Cheras, Kuala Lumpur. conscious alternatives to traditional vehicle ownership. At the core of the partnership is a shared mission: to make electric mobility practical and scalable, while empowering communities through Bateriku.com’s gig economy model BHero and enhancing environmental impact through ESG-driven practices. Through the partnership, Bateriku Saujana Putra, Bateriku Subang Perdana, Bateriku Permaisuri Cheras, Bateriku Balakong and Bateriku Kajang. sians. By merging innovation with social responsibility, we’re not just supporting the EV ecosystem, we recreating a new wave of oppor tunities for our BHeroes and contri buting meaningfully to national sustainability goals. RYDE EV CEO Syed Ahmad Faiz said that working alongside

It will also support affordable transformation of internal com bustion engine vehicles into electric powered ones, mobilising Bateri ku.com’s gig economy network to support EV-related services, creating new income streams and entre preneurship opportunities besides aligning with ESG standards. Bateriku.com CEO Azarol Faizi said: “Our partnership with RYDE EV is a bold step towards building a smarter, greener mobility future for Malay

Bateriku.com allows them to scale their EV technology to the grassroots. “From quick-swap stations to converting petrol vehicles into clean EVs, this partnership is about making green mobility accessible for everyone ,and that’s a future worth driving towards.”

The collaboration introduces an innovative EV Swap Station and ICE to-EV conversion services, marking a significant leap forward in promoting sustainable transportation solutions. By leveraging both companies strengths, the initiative aims to provide seamless, accessible and eco

Bateriku.com and RYDE EV will provide EV Swap Stations to enable quick and convenient battery swaps to reduce EV downtime at 10 Bateriku Pitstop locations – Bateriku Bangsar, Bateriku Ampang, Bateriku Kelana Jaya, Bateriku Kepong, Bateriku Pudu,