07/04/2026

BIZ & FINANCE TUESDAY | APR 7, 2026

15

ETCon26 to focus on AI and Malaysia’s energy transition

Paydibs, Great Eastern to introduce embedded insurance for M’sian MSMEs

PETALING JAYA: Merchant-first payment gateway operator Paydibs Sdn Bhd has entered into a part nership with Great Eastern General Insurance (Malaysia) Bhd to introduce embedded insurance solutions designed to support micro, small and medium enterprises. In Malaysia, SMEs account for about 97% of business establishments, contributing around 39% of gross domestic product and 48% of total employment. Despite their economic importance, many SMEs remain underinsured, leaving them potentially exposed to operational risks. Under the collaboration, selected insurance coverage will be bundled with the Paydibs payment terminal, an in-person payment solution that enables merchants to accept digital payments. By embedding insurance within the terminal ecosystem, merchants who adopt digital payment acceptance can also benefit from practical business protection designed for everyday operational needs. Paydibs CEO Tee Kean Kang said the partnership reflects the evolving role of fintech platforms in supporting MSMEs beyond payment services. “We believe the future of merchant enablement lies in building integrated business ecosystems. Payments alone are no longer sufficient. Businesses today need access to stability, protection and tools that help them manage operational risks. By em bedding practical insurance pro tection into our platform, we are bringing together transactions, risk protection and long-term sustaina bility support for MSMEs.” In a press statement, Paydibs said

many small merchants remain under insured, often because traditional insurance products are perceived as complicated or not directly relevant to daily business operations. Through the collaboration, Paydibs and Great Eastern said they aim to address this gap by embedding coverage within the payment ecosystem, making insurance easier to access through tools merchants already use. Great Eastern CEO Jeremy Yeap said, “Small businesses are the backbone of Malaysia’s economy, yet many remain underprotected against everyday risks. We are pleased to collaborate with Paydibs that supports merchants in their daily operations. By integrating business protection into the payment experience, we can make insurance more accessible, relevant and convenient for small merchants, helping them operate with greater confidence. “This partnership reflects our commitment to closing the protection gap and supporting MSMEs with solutions that help them operate with confidence and focus on growth.” The insurance consolidates essential protections into a single packaged solution, including acci dental damage to shop premises caused by events such as fire, flood or break-ins, loss of cash while in transit or kept at the outlet, employer-related liabilities and unexpected disruptions that may temporarily affect operations. From a merchant’s perspective, the coverage is embedded as part of the Paydibs terminal offering, allowing businesses to benefit from protection without having to go through a separate insurance application process.

KUALA LUMPUR: The upcoming Energy Transition Conference 2026 (ETCon26) will serve as a key platform to advance artificial intelligence (AI) as a new frontier for innovation, powering the next phase of Malaysia’s energy transition. To be held from June 3 to 5 at the Kuala Lumpur Convention Centre, ETCon26 is a flagship conference envisioned by Tenaga Nasional Bhd (TNB), bringing together global stakeholders to accelerate the implementation of the national energy transition agenda. Themed “Energy & AI: The Synergy for Energy Transition”, the conference is anchored on three content pillars – Energy for AI, AI for Energy, and Energy Transition (ET) for People, reflecting the growing interdependence between energy systems and digital technologies. TNB president/CEO Datuk Shamsul Ahmad said the 2026 edition will focus on translating Malaysia’s National Energy Transition Roadmap into actionable outcomes, shifting from strategy formulation to execution. “We will gather participants, industry players and stakeholders to collaborate and come up with a solid implementation plan laying out the national energy transition roadmap,” he told Bernama in a recent interview. Shamsul said a reliable and resilient energy system is funda mental to supporting the rapid expansion of AI-driven industries, particularly data centres, which are increasingly energy-intensive. “AI cannot move without energy. In fact, nothing in the country operates without energy,” he added. Shamsul noted that the growth of o Participants and stakeholders will come up with plan to speed up implementation of national power agenda: TNB president/CEO PETALING JAYA: Foundation and geotechnical specialist Geohan Corporation Bhd’s wholly owned subsidiary, Geohan Sdn Bhd, has secured two subcontract packages with a combined value of RM103 million for the extension of the New Pantai Highway. The contracts were awarded by IJM Construction Sdn Bhd, the turnkey contractor for the project. Pursuant to the first subcontract, valued at RM27.4 million, Geohan will undertake the hand dug caisson piling works, along with compre

Shamsul says the upcoming ETCon26 will serve as a key platform to advance AI as a new frontier for innovation, powering the next phase of Malaysia’s energy transition. – BERNAMAPIC

cation and Training (TVET) programmes in areas such as solar and battery storage. “We have worked with vendors to support TVET, creating ready employment opportunities. The whole ecosystem benefits from this new economic sector,” he said. Shamsul said TNB is also advancing the electrification of mobility, with more than 300 electric vehicle (EV) chargers already installed nationwide under the TNB Electron charging network. The initiative aims to accelerate EV adoption while supporting domestic automotive players and reducing emissions. Shamsul said these initiatives are expected to generate broad spillover effects across industries and communities, supporting Malaysia’s transition to a low carbon economy. At the regional level, he said, Malaysia is well-positioned to emerge as a smart and sustainable energy hub within Asean, sup ported by initiatives such as the Asean Power Grid. ETCon26 has already secured participation from global partners, including Hyosung, Trilliant, Schneider, EdgeConneX and Siemens, reflecting the importance of a collaborative ecosystem.

data centres in Malaysia under scores the need for a stable and competitive electricity supply, with TNB playing a key role in enabling this expansion. At the same time, AI is becoming integral to transforming how energy systems are managed, enhancing efficiency, predictability and overall system performance. Shamsul said AI is already being deployed across TNB’s operations, including predictive maintenance, load balancing and weather forecasting. “For example, with predictive maintenance and weather fore casting, we know which assets to prioritise. These are fantastic things that can be done with AI embedded into operations.” AI, he added, is critical in addressing intermittency challenges associated with renewable energy, particularly solar generation. Beyond technology, Shamsul said the energy transition must deliver tangible benefits to society, including job creation, skills development and broader eco nomic spillovers. He said the expansion of the renewable energy sector has created new economic oppor tunities, prompting TNB to support Technical and Vocational Edu hensive pile testing. The second subcontract, valued at RM75.6 million, involves bored piling and reverse circulation drilling works. Both packages are expected to be completed within 19 months from the date of commencement. In a statement yesterday, Geohan said the new wins propelled its total outstanding order book to about RM460 million, spanning residential, mixed development, infrastructure and industrial across Peninsular Malaysia,

Tee (right) and Yeap share a handshake to mark and celebrate the collaboration between Paydibs and Great Eastern.

Geohan awarded RM103m New Pantai Highway extension subcontract packages

foundation geotechnical solutions. These wins reinforce the growing importance of infrastructure as a key growth engine for the company.” He added, “Notwithstanding the ongoing international geopolitical uncertainties, we have continuously taken proactive measures to manage cost pressures and strive to protect our margins. By leveraging our relatively young and fuel-efficient machinery fleet, we are able optimise operational efficiency while main taining cost discipline.” and

on higher-value public works, providing the company with enhanced earnings visibility over the next two years. On the contract awards, Geohan managing director Lee Kim Seng said, “We are deeply grateful to IJM group for its unwavering trust and confi dence in Geohan. “Our longstanding relationship, spanning about 18 years, is a testament to a partnership built on a foundation of mutual respect and our consistent delivery of high-quality

with the infrastructure segment forming an increasingly significant portion following these two awards. It added that the infrastructure

segment now accounts for about 30% of the total order book, a significant increase from 17.3% as at Dec 31, 2025. This shift reflects Geohan’s focus