25/06/2025

BIZ & FINANCE WEDNESDAY | JUNE 25, 2025

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Grab Malaysia launches EV e-hailing initiative

Petronas selects 20 potential startups for FutureTech accelerator scheme PETALING JAYA: Petroliam Nasional Bhd (Petronas), in collaboration with its corporate partners, has selected 20 high potential startups for the fourth edition of its FutureTech accelerator programme. The selected startups representing seven countries, including Malaysia, Singapore, Thailand, Hong Kong, Japan, Australia and the United States, are advancing innovative solutions aligned with the programme’s three key themes: Future of Industry and Work, Future of Energy and Future of Chemicals and Materials. Petronas corporate strategy senior vice president Marina Md Taib said,“Each edition of FutureTech by Petronas unlocks new synergies between corporates and startups not only for the energy industry but also for industries committed to driving progress for society responsibly, and sustainably.” “The diversity and technology offerings from this year’s cohort demonstrate the strength of innovation emerging across the region. We look forward to this journey of collaboration between corporates, eco system partners and startups to meaningfully nurture a thriving innovation landscape,” she added. In addition to the 20 selected startups, three ventures from Petronas’ internal innovation initiatives – Petronas Inno vation Garage and SEEd.Lab will also join the FutureTech 4.0 cohort – comple menting technology focused innovations with socially driven solutions. All 23 startups will now undergo a 12 week hybrid accelerator programme offering teams with coaching, tailored mentorship, pilot opportunities in real world environment and access to regional and global markets. The programme kicked off with an Immersion Week in Kuala Lumpur, held alongside Energy Asia from June 16 to 18 . It will conclude with Demo Day, where startups will present to Petronas, corporate partners, investors and potential collaborators. Petronas FutureTech 4.0 is run in collaboration with corporate partners, SP Setia Bhd, Xplor Ventures the corporate venture capital arm of PTTEP, Bosch Business Innovations and Living Lab Ventures Indonesia.

Plan 2021-2025, Loke said, electric vehicles have been identified as one of the main pillars to reducing carbon emissions and encouraging the use of green technology. Efforts being taken or will be implemented by the government include tax exemptions an incentives for EV purchases, installation of EV chargers and the use of renewable energy in the transport sector. Other efforts include the implementation of low carbon zones in urban areas and the provision of more widespread EV charging infrastructure, including on highways, shop ping malls and airports. Meanwhile, Grab Malaysia director of country operations and mobility Rashid Shukor said the new initiative supports Malaysia’s green mobility push with the introduction of an EV-only ride option for airport tourists. “By prioritising routes with high visibility and demand like KLIA, we intend to demonstrate the practicality and comfort of EVs, while increasing awareness among users.” Grab EV will use BYD M6 electric vehicles, a seven-seater electric multi-purpose vehicle that offers passengers a quieter and smoother travel experience. – Bernama

“The selection of KLIA as the launch location is very strategic, not only because of the high passenger traffic but also because it provides maximum exposure to domestic and inter national users regarding Malaysia’s efforts to enhance green mobility,” he said. Speaking at the Grab EV launch here, Loke said that public-private collaboration is the key to successfully accelerating the use of EVs nationwide. According to him, the launch of Grab Malaysia’s new initiative is a catalyst to expanding EVs nationwide, not just in the Klang Valley, but also in other major cities such as Johor Bahru, Penang, Kuching and Kota Kinabalu. “The latest MoU (memorandum of understanding) between Grab and several strategic partners, including EV providers and charging companies recently, reflects the conformity of the industry with the country’s aspirations. “The MoT will continue to support such efforts and we urge more industry players to step forward and play their part in the country’s decarbonisation agenda,” he said. Through the National Transport Policy 2019 2030 and the Ministry of Transport Strategic

o Minister lauds move, says it supports sustainable mobility agenda in line with national aspirations SEPANG: The introduction of electric vehicle (EV) services specifically for e-hailing by Grab Malaysia is expected to improve the quality of the transport system at the country’s main entry points, thus supporting the sustainable mobility agenda in line with national aspirations. Transport Minister Anthony Loke said the ministry fully supports Grab Malaysia’s initiative and is committed to expediting the country’s transition to a cleaner, more efficient and environmentally friendly transport system. Grab Malaysia yesterday launched its EV only ride services as a booking option in the Grab application, and also set up an EV lounge at the Kuala Lumpur International Airport (KLIA), as an added convenience for users of its premium EV services.

SC issues Product Governance Guidelines to boost investor protection PETALING JAYA: The Securities Commission Malaysia (SC) yesterday introduced the Guidelines on Product Governance (PGG), aimed at strengthening investor protection as well as encouraging responsible product development and distribution in the capital market. and prevent potential harm to investors; places greater emphasis on board and management’s responsibilities by holding them accountable for product design and distribution; and requires collaborative relationship between the product issuers and distributors to share information in respect of the appropriateness of target market to ensure the product continues to serve its intended purpose. Mohammad Faiz remarked that it is crucial in protecting investors’ interests and driving responsible innovation. “By implementing an effective product governance framework, firms will also be able to demonstrate their commitment to ethical and responsible business practices, which is key to building trust in investors and regulators,” he said.

This initiative is part of the SC’s market and regulatory reforms towards enhancing industry conduct and market integrity. Among others, the PGG requires product issuers and distributors (firms) to prioritise investors’ interests when designing and distributing unlisted capital market products, reflecting this in its controls, policies and procedures (CPPs); firms to put in place CPPs that improve product suitability for the intended target market and proactively identify

The PGG will apply to unlisted capital market products except for ordinary shares, over the-counter derivatives contracts, venture capital or private equity funds and products offered on platforms operated by a recognised market operator. The PGG will come into effect on Jan 2, 2026, giving firms ample time to familiarise themselves and prepare for compliance.

SC chairman Datuk Mohammad Faiz Azmi said that the PGG reinforces the SC’s efforts in promoting responsible product innovation and distribution. “The PGG adopts a principle-based approach, allowing firms to implement their product governance framework that best suits their business model while still achieving its desired regulatory outcomes.”

Aircraft Propeller Service opens state-of-the-art MRO facility in Selangor PETALING JAYA: Aircraft Propeller Service (APS), a global leader in aircraft propeller maintenance, repair and overhaul (MRO), yesterday opened its state-of the-art MRO facility in Malaysia to serve the country and Asia-Pacific region. Colbert and APS Asia Pacific managing director Fergus Lopez. represents more than a geographic expansion. It is a strategic investment in workforce development and technical excellence, and a commitment to be close to our customers. By combining our proprietary expertise with

“I am delighted that APS has chosen Selangor to be its home in Asia Pacific. This will be music to the ears of companies in the industry of airlines and airports in the region, especially the likes of ATR, Airbus and Embraer operating short-haul routes. APS’s decision to set up shop in Selangor has taken the state’s goal of being the gateway to Asean to a whole new level, representing their belief that Selangor has the economic landscape and dynamic talent to take up these jobs, and I’m confident that young Selangorians will stand to benefit through the many job opportunities this MRO facility will offer,” said Amiruddin. The 30,096-square-foot facility includes a temperature- and humidity controlled factory floor and a three storey administrative office. It will provide full in-house MRO capabilities for ATR 42/72 and Airbus C295 propellers, with plans to introduce further MRO capabilities over time. Colbert noted: “This MRO centre

Malaysia’s skilled talent pool, we are building a center of excellence in Asia Pacific for propeller MRO to support operators in this part of the world.” Twenty of APS Malaysia’s 30 employees have already completed APS’s rigorous training in the US and Brazil, gaining certifications in complex inspections and original equipment manufacturer-authorised repair tech niques. In addition, each of these trainees has completed 31 mandatory technical courses to ensure compliance with global performance standards. Lopez said: “Our Asia-Pacific operation meets the same world-class standards as our facilities in Brazil and the US. This achievement reflects the dedication of our Malaysian team, who have gone through very compre hensive technical training.”

The world-class MRO centre reinforces APS’ long-term commitment to the Asia-Pacific region, the world’s largest market for turboprop aircraft. The facility in Selangor is APS’s first in Asia and adds to its existing global footprint in the United States and Brazil. APS is the only MRO company in Asia and the Americas licensed to perform original equipment manufacturer proprietary 568F propeller repairs under an agreement with Collins Aerospace, the propeller manufacturer. The US Federal Aviation Authority and the Civil Aviation Authority of Malaysia have both certified the new facility with EASA and other country approvals to follow soon. Selangor Menteri Besar Datuk Seri Amirudin Shari opened the new MRO facility along with APS CEO Daniel

From feft: National Aerospace Industry Coordinating Office CEO Professor Shamsul Kamar Abu Samah, Selangor State Exco for Investment, Trade and Mobility Ng Sze Han, Amirudin, Colbert, Lopez and APS Asia Pacific operations director Tuan Azli at the opening of the MRO facility.