05/06/2025

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BIZ & FINANCE THURSDAY | JUNE 5, 2025

I-Bhd earmarks RM10m for AI, robotics infra launch

SHAH ALAM: I-Berhad, the master developer of i-City, has announced an initial commitment of RM10 million to roll out artificial intelligence (AI) and robotics infrastructure across its portfolio of income-generating assets. In a statement, the company said the rollout – expected to be completed in 2028 – will begin with the AI-Driven Enhancement at Mercu Maybank, a 33 storey corporate tower that serves as Maybank’s alternate head office in i City. According to the statement, the implementation will extend to other assets including Wyndham Suites i City, Wyndham Suites KLCC, Wyndham Garden, DoubleTree by Hilton i-City, Central-City Mall, i-City theme park, car parks, a data centre, and residential developments in i-City. “This rollout builds on the success of I-Bhd’s pivot towards ‘extracting value from the land’, a strategy first introduced in 2024 to unlock long-term value from its RM10 billion GDV in i-City. “With over 50% of the completed GDV made up of income-yielding properties, the group is now entering a phase focused on performance optimisation, operational scalability, and intelligent infrastructure,” it said. The statement added that the four year technology roadmap is designed to embed automation into both internal KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) yesterday denied news reports claiming the national oil firm is leaving Canada. “Any reports that claim Petronas is leaving Canada are inaccurate,” Petronas said in a reply to Bernama’s query. On Tuesday, Petronas was reportedly considering options for its Canadian company, formerly known as Progress Energy Resources Corp, including a sale, according to people familiar with the matter. Petronas stated it is committed to its investments in Canada, where it operates the North Montney Joint Venture upstream gas development and is a major partner in the LNG

operations customer-facing experiences – including predictive maintenance, visitor flow management, and robotics-assisted service delivery across commercial, retail, and hospitality spaces. “The group’s i-City SuperApp will serve as the central platform for integrating Robotics-as-a-Service capabilities across its asset ecosystem, with future plans for tenants to tap into shared infrastructure to optimise their operations,” it noted. The company also said that it is currently in discussion with leading robotics and AI partners including Unitree, DeepSeek, and Baidu, as it positions i-City as a scalable, AI powered development. Meanwhile, chairman Tan Sri Lim Kim Hong said the group is not only addressing current demand but also future-proofing its assets by developing an intelligent urban ecosystem where performance, user experience, and data integration are aligned to generate long-term value for stakeholders. and

Flight operations set to take off by the end of 2025, as the airline moves closer to securing its Air Operator Certificate after receiving its Conditional Air Service Permit in 2024. – ASCEND AIRWAYS WEBSITE

Ascend Airways eyes November cargo ops

CAAM, Mavcom and other relevant authorities that are advancing the aviation industry in Malaysia. “This overwhelming support has allowed us to set up a robust operational foundation to assist air operators and their ambition in the region,” said Germal Singh. Ascend Airways Malaysia aims to provide a vital solution of aircraft wet leasing in Malaysia and the Asia Pacific, enabling airlines and logistics companies to scale their operations and secure additional revenue during peak season. This model also allows air operators to navigate operational challenges such as unexpected flight disruptions and prolonged maintenance events. “Ascend Airways remains focused and committed to deliver flexible ACMI solutions and develop its seasonal fleet strategy between the UK and Malaysia, and the Asia Pacific region. ACMI is a proven solution for airlines seeking to efficiently meet dynamic travel demand and unlock new revenue opportunities. We are resolute in our aspirations to be leaders in this space,” said Alastair Willson, CEO of the UK-based Ascend Airways, the sister company of Ascend Airways Malaysia.

o Full passenger-freight services expected to commence by end of this year

He added that the group has demonstrated its ability to generate recurring income and is now strengthening that foundation with intelligent systems designed to improve efficiency, adaptability, and long-term resilience across its assets. Petronas denies exiting Canada

PETALING JAYA: Ascend Airways Malaysia, a new Malaysia-based airline and a part of Avia Solutions Group – the largest ACMI (aircraft, crew, maintenance and insurance) provider in the world, has advanced to Phase 3 of its Air Operator Certificate (AOC) application process. The new ACMI and charter solutions provider is targeting to launch its cargo operations in November 2025, with passenger flights to follow. In 2024, Ascend Airways Malaysia was granted its Conditional Air Service Permit (CASP) from the Malaysian Aviation Commission (Mavcom) and has since been working closely with the Civil Aviation Authority of Malaysia (CAAM) in order to obtain its Air Operator Certificate (AOC). The process is currently in its final stages with full flight operations expected to commence by the end of 2025. The Kuala Lumpur-based ACMI and charter airline will offer both

passenger and cargo operations. Its first B737-800 freighter aircraft will arrive in Malaysia Q3’25 to facilitate the necessary processes of the issuance of the full AOC and the launch of the airline’s cargo operations. Subsequently, the second and third passenger B737-800 aircraft will be inducted into the Malaysian airline’s fleet by end of 2025 and early 2026, respectively. “As it is our mission to support the growth of local and regional airlines, we want to become a trusted ACMI partner that can help them increase operational agility and capture the rising demand for passenger and cargo operations, which is on the rise in the Asia-Pacific region,” said Ascend Airways Malaysia CEO Germal Singh Khera. As a new ACMI airline in Malaysia, he added they are continuously grateful for the support, global outlook and approach they receive from the Transport Ministry,

Canada gas liquefaction facility in Kitimat, BC. “With LNG Canada preparing for its first cargo this year, Petronas is proud to be providing lower-carbon, reliable Canadian liquefied natural gas to support global energy markets for decades to come,” it added. Petronas acquired Progress Energy in 2012 for approximately US$5.3 billion (RM23 billion), significantly expanding its shale gas portfolio and strengthening its gas supply base. The national oil company also owns a 25% stake in the LNG Canada project, a major liquefied natural gas joint venture alongside Shell Plc, PetroChina Co Ltd, Mitsubishi Corp, and Korea Gas Corp. – Bernama

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