06/08/2025

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BIZ & FINANCE WEDNESDAY | AUG 6, 2025

Gen Alpha redefines M’sian financial literacy landscape

Hartalega posts RM12m Q1 net profit KUALA LUMPUR: Hartalega Holdings Bhd recorded a profit after tax (PAT) of RM12 million for its first quarter ended June 30, 2025. Profit before tax stood at RM14 million while revenue came in at RM553 million. The group’s performance for the quarter was impacted by a reduction in average selling prices (ASPs), as well as lower sales volume primarily owing to front-loaded inventories held by US customers and deferred orders in response to ongoing tariff developments. At the same time, pricing pressures intensified in non-US markets, driven by excess supply from Chinese manufacturers. In addition, operating profit was also affected by the lower ASPs, strengthening of the Malaysian Ringgit and less favourable cost absorption resulting from lower capacity utilisation. CEO Kuan Mun Leong said,“The first quarter reflects the ongoing recalibration taking place in the global glove sector. With overcapacity still persisting and operating costs rising, competition remains intense, especially from China and other regional manufacturers. Ongoing uncertainty surrounding US tariff policies continues to weigh down on demand, especially in the US market, while also prompting a shift in long-term sourcing strategies among US importers.” Nevertheless, he added they are anchored by their long-term strategy, focusing on enhancing production efficiency and cost optimisation, investing in advanced automation, maintaining robust fiscal discipline, and sharpening their sales approach to boost Hartalega’s competitiveness and resilience. “While near-term conditions are challenging, structural glove demand for rubber gloves continues to hold strong prospects, driven by growing global healthcare needs and hygiene awareness. Our focus remains on building long-term value while continuing to uphold best practices in responsible manufacturing and ESG compliance,” said Kuan.

the shareholdings of substantial shareholders,” it added, noting that the contract does not require shareholder or regulatory approval. CBHB’s board said no directors or major shareholders have any direct or indirect interest in the contract. “After considering all aspects, the board is of the view that the contract is in the ordinary course of business and in the best interest of the company,” it said. – Bernama meaningful payment experiences – not just for Gen Alpha children, but for their parents as well. These insights will help guide how government and industry can collaborate to empower Gen Alpha families with the tools they need to thrive in a world where digital finance is second nature.” The mean and median age of Gen Alpha children represented by their parents in this study is 7.24 years and 7 years respectively. These include account(s) in their own names and account(s) owned by an adult such as their parent(s) or guardian(s). The findings in this report are based on a global research study conducted by The Harris Poll on behalf of Mastercard. The survey gathered responses from 19,302 consumers across five global regions, including 9,131 consumers in Asia Pacific and 1,010 in Malaysia. The study was conducted via a quantitative online survey, administered from Sept 4-20, 2024. It covered five regions: North America, Latin America and Caribbean, Europe, Middle East & Africa, and Asia Pacific which included respondents in Australia, China, India, Indonesia, Japan, Malaysia, Singapore, Thailand, and Vietnam.

CBHB said the identity of the client cannot be disclosed due to a non-disclosure agreement. The contract takes effect from the date of acceptance and is slated for substantial completion by Dec 31, 2026. The group said the project is expected to contribute positively to earnings over the contract period. “There will be no effect on the company’s issued share capital or With the rise of digital wallets, mobile payments and virtual accounts, Malaysian families are calling for smarter, future-ready solutions that will set their children up for success. This gives visionary banks and financial institutions an opportunity to pave the way by delivering digital tools that not only simplify money management but also support how children learn about finances. For instance, Gen Alpha parents in Malaysia are showing strong interest in features like educational content (73%), parental controls (73%), seamless account transfers (57%), real-world learning simulations (45%), and gamified experiences (42%). Mastercard Malaysia & Brunei country manager Beena Pothen said, “These findings highlight the remarkable pace at which Malaysia’s youngest generation is embracing digital finance. With 97% of Gen Alpha children already accessing financial accounts and nearly half using digital wallets, it’s clear they’re growing up with a strong digital-first mindset. This is a true reflection of Malaysia’s impressive momentum in digital transformation. Mastercard is supporting this progress by driving innovation that delivers secure, seamless, and

o With digital wallets and investment apps in hand, nation’s youngest digital natives are reshaping how families manage money

KUALA LUMPUR: CBH Engineering Holding Bhd’s (CBHB) wholly owned unit CBH Engineering Sdn Bhd has secured a RM194.66 million contract to carry out electrical works for a proposed data centre in Selangor. In a filing with Bursa Malaysia, the group said the contract was awarded by an undisclosed party on Aug 1 and formally accepted by CBH Engineering yesterday. KUALA LUMPUR: Gen Alpha (the digital-first generation born 2010 onwards) isn’t waiting to grow up before engaging with money – they’re already making their mark on the world of digital finance. In Malaysia, new research from Mastercard shows that 97% of Gen Alpha children already have access to a financial account, while many hold digital wallets (46%), investment accounts (40%), and debit cards (40%). Half (50%) of parents say their Gen Alpha children are more financially savvy than they were at the same age, with 40% saying that their children know more about new payment methods than they do. Malaysia’s Gen Alpha is growing up in a digital-first environment, where mobile wallets are already the norm – driving one of the highest digital wallet penetration rates in Southeast Asia at around 40%. From an early age, Malaysia’s Gen Alphas expect seamless, tech-enabled payment experiences across all

“The contract involves the engineering, procurement, construction and commissioning of an electrical supply system for a 275 kilovolt consumer substation for a proposed data centre in Selangor,” it said. The scope of works includes the supply, erection, installation, testing and commissioning of substation equipment and related infrastructure. touchpoints. As trends like “shoppertainment” gain traction – blending in-app interactivity, AR/VR commerce, and real-time entertainment – Gen Alpha is poised to favour brands that integrate immersive content with frictionless digital payments. In Malaysia, parents of Gen Alphas anticipate their children will grow up in a digital-first financial world – one where they may never own a physical wallet (62%) or carry cash. And while parents of Gen Alpha kids feel prepared to teach their children about foundational financial concepts, they are less confident when it comes to more complex financial topics: > 51% feel that it is getting increasingly complicated to teach their children about finances. > 54% are unsure that their financial knowledge applies to their children’s generation. > 79% wish there were more tools available to teach children about finances.

CBH Engineering unit wins RM195m electrical works contract

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