24/10/2025

BIZ & FINANCE FRIDAY | OCT 24, 2025

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Samenta: Asean must build more bridges for MSMEs

Measat, Chinese firms form alliance to power Sarawak’s digital ambitions PETALING JAYA: Measat Global Bhd, Malaysia’s premier spacetech solutions provider is entering a tripartite strategic alliance agreement with Beijing Guodian High-Tech Technology Co, Ltd (Guodian Gaoke), and China StarWin Science & Technology Co Ltd (StarWin) to offer Internet of Things (IoT) services supported by the Tianqi Low Earth Orbit (LEO) Constellation in Malaysia. Under the collaboration, Measat will be the authorised service provider for the Tianqi Constellation’s satellite-based IoT services in Malaysia, leveraging its market expertise and distribution network to drive commercial rollout next year. Meanwhile, Guodian Gaoke will provide the Tianqi LEO satellite constellation and related systems, enabling seamless integration with local businesses and StarWin will supply and integrate certified ground terminals, ensuring compliance with Malaysia’s technical and regulatory standards to support end-user needs. The strategic alliance was formalised on Wednesday during a signing ceremony held alongside the International Digital Economy Conference Sarawak 2025 in Kuching. “Digital transformation is key to boosting Sarawak’s economic efficiency and productivity through technology such as Big Data, IoT and Blockchain. To enable this, upgrading our digital infrastructure is essential, where Measat and the Tianqi Constellation can play a vital role,” said Sarawak Utility and Telecommunication Minister Datuk Seri Julaihi Narawi. He noted that a smart farming initiative using IoT had boosted productivity by 20% and farmer income significantly. Sarawak now targets IoT adoption across all agriculture stations, aiming for a 50% increase in yield, 40% rise in household income, and 40% reduction in labour costs. The Tianqi Constellation currently comprises 38 LEO satellites, delivering narrowband IoT con nectivity globally across sectors such as forestry, agriculture, energy and environmental protection.

encourage member states to specialise based on comparative strengths and collaborate for collective competitiveness, rather than compete for the same investments and markets. A more inclusive measurement would be one on our collective growth as an economic bloc, informal as it may be. This could then form the basis of discussions at the leaders’ level, to accelerate the transformation of Asean into a cohesive economic grouping and realise our aspiration to become the fourth-largest economy in the world. 0 Empowering MSMEs as innovators and value creators Finally, Asean must help its MSMEs move beyond being suppliers or original equipment manufacturers, to become brand owners and value creators within the region and beyond. This will help us achieve long-term competitiveness and resilience, especially as larger economies around us continue to scale and consolidate. “Our mission is to strengthen SME-to-SME connections, enable more trade and collaboration among our SMEs, and harness our respective national strengths to build a truly Asean-wide supply chain in key industries such as food, furniture, electronics, and digital services. This caucus represents a new model of cooperation, where SMEs lead the integration effort, complementing rather than waiting for government-led initiatives,” said Ng. He added that they are hopeful Asean will continue to build bridges while removing barriers.

o Malaysian SME association outlines four key agendas for regional leaders to prioritise during summit

PETALING JAYA: As Malaysia hosts the 47th Asean Summit in Kuala Lumpur, there is a historic opportunity to strengthen Asean’s unity beyond the level of governments, to include the millions of micro, small and medium enterprises that form the backbone of the regional economy, said Small and Medium Enterprises Association Malaysia (Samenta) national president Datuk William Ng. For too long, Asean’s economic discussions have centred on removing barriers, he noted. “However, barriers are only part of the problem. The bigger challenge lies in the lack of trust, connectivity and collaboration among our MSMEs on the ground,” he said in a statement yesterday. Across Asean, Ng said, the 70 million MSMEs are already trading and cooperating across borders, but often indirectly, and mostly as suppliers to global rather than regional value chains. “If Asean is serious about growing intra-regional trade, we must go beyond the narrative of ‘removing barriers’ and instead focus on actively building bridges between our businesses.” Samenta called on Asean leaders to prioritise four key agendas during the upcoming summit, namely: 0 Deepening intra-Asean trade through collaboration, not competition Asean’s intra-regional trade has remained around 20% for more than a decade. The issue

is not only tariffs or non-tariff barriers, but also the fact that our supply chains are designed for markets outside Asean, not within. Malaysia, as this year’s chair, should take the lead in reframing Asean’s economic priorities, shifting from protecting national markets to building regional industries and shared prosperity. 0 Accelerating digitalisation and regional supply chain integration Asean’s digital economy initiatives such as cross-border payment systems and the upcoming Digital Economy Framework Agreement must be designed to include our MSMEs. A regional digital ecosystem that includes interoperable e-commerce plat forms, shared cybersecurity standards, and simplified data flows will allow MSMEs to innovate, collaborate and compete effectively. Creative industries, many of which are led by small and women entrepreneurs, should be recognised as part of this regional value chain, supported by intellectual property protection, talent mobility, and cross-border creative clusters. 0 Shifting from national key performance indicators (KPI) to regional performance To realise this vision, Asean must shift its focus from individual national KPI such as export numbers or domestic industrial output; to regional performance indicators that measure how well our economies complement each other. A regional supply chain perspective will

“If we can trade with, buy from, and learn from one another, Asean will not only be a market of 700 million people, it can also be a community of shared prosperity, powered by SMEs, for SMEs.” Glomac eyes strategic landbank expansion in Klang Valley, Johor

Ű BY JOHN GILBERT sunbiz@thesundaily.com

the offsetting stability in material prices,” Fateh Iskandar said. On the potential cost impact of the revised Sales and Service Tax (SST) in July, he stated that it is still too early to observe significant changes. “It’s only been a few months since the SST came into effect, so we have not seen major cost adjustments yet. For now, any increase appears minimal, and the government’s decision not to introduce new taxes in the recent 2026 Budget is certainly a positive move for the construction and property sectors,” he said. Looking ahead, Fateh Iskandar expressed confidence that Glomac’s strong balance sheet and prudent financial management will ensure healthy cash flow and support ongoing and upcoming project launches. Glomac remains among the most financially prudent players in the sector, maintaining zero net gearing, shareholders’ equity of RM1.2 billion, and a net asset value per share of RM1.57. As of April 2025, the group held RM240.5 million in cash, deposits, and short-term placements, ensuring ample liquidity for future expansion. Backed by its RM3 billion Sukuk Wakalah Programme, Glomac possesses a strong financial foundation to accelerate project delivery, pursue strategic landbank acquisitions, and sustain long-term growth.

year ended April 30, 2025 (FY25). Combined with the interim dividend of 1 sen paid on Dec 30, 2024, this represents a total payout of 2.25 sen per share, translating to a healthy 6.6% yield based on the closing price of 34 sen per share as of April 30, 2025. For FY25, Glomac recorded revenue of RM238.3 million and profit before tax (PBT) of RM35 million, an improvement from RM32.9 million in FY24. The steady performance was anchored by ongoing progress at the group’s flagship township develop ments – Saujana Perdana and Lakeside Residences – as well as strong contributions from the high rise projects 121 Residences and Plaza@Kelana Jaya. The group also achieved several key project completions, including the 121 Residences, which has a GDV of RM334 million, reaffirming Glomac’s commitment to timely delivery and quality craftsmanship. Looking ahead, Glomac plans to roll out approximately RM324 million worth of new launches in FY26, primarily comprising landed resi dential developments within its esta blished townships. These launches will be phased strategically to match market conditions and optimise take up rates. Responding to questions on

PETALING JAYA: Property developer Glomac Bhd will continue to acquire strategic sites in Klang Valley and Selangor and expand its current landbank. Group managing director and CEO Datuk Seri Fateh Iskandar Mohamed Mansor said the property developer currently holds more than 600 hectares of land, with a total gross development value (GDV) exceeding RM6 billion. Of that, about RM5 billion is located in the Klang Valley, parti cularly in Selangor, while the remainder is in Johor, mainly in Kulai. “We continuously assess new land opportunities – review potential sites almost every week – but we are very disciplined. Each acquisition must go through rigorous feasibility and research before we proceed. “We are definitely looking at new potential landbanks. We are always on the lookout for strategic opportunities to expand, and we continuously evaluate sites that align with our long term growth strategy,” Fateh Iskandar told reporters after the company’s 41st annual general meeting (AGM) yesterday. At the AGM, Glomac shareholders approved a single-tier final dividend of 1.25 sen per share for the financial

Fateh Iskandar (left) and Glomac non-executive chairman Tan Sri FD Mansor after the company’s AGM yesterday.

per tonne currently.” He added that while material costs remain steady, the increase in service and labour costs has been more pronounced following the govern ment’s implementation of the new minimum wage policy and the extension of Employees Provident Fund contributions to foreign workers. “We fully support the govern ment’s efforts to protect worker welfare, but naturally, these policies have contributed to some increase in overall labour costs. Nonetheless, the impact has been manageable due to

Glomac’s project catalysts and cash flow outlook for the next 12 months, Fateh Iskandar said the group remains well-positioned to sustain operations and manage rising investment costs, supported by a stable construction cost environment. “At present, we continue to see stability in material costs such as cement and concrete, which form the core of our construction expenses,” he explained. “In fact, some materials like steel have recorded slight price reductions, from around RM3,200 per tonne previously to below RM3,000