16/09/2026

BIZ & FINANCE WEDNESDAY | SEPT 16, 2026

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Butterfield FB makes soft debut on ACE Market

New 250MW quota under FiT expected to attract RM3b investment PUTRAJAYA: The new 250-megawatt (MW) quota under the Feed-in Tariff (FiT) programme for 2027 is expected to generate RM3 billion in investment and create more than 5,000 direct and indirect jobs. The Ministry of Energy Transition and Water Transformation (PETRA) said the quota for biogas, biomass and small hydropower would be offered to eligible renewable energy (RE) developers in Peninsular Malaysia and the Federal Territory of Labuan. Of the total quota, 30 MW is allocated for biogas, 120 MW for biomass and 100 MW for small hydropower. The ministry said applications for the quota could be submitted via e-bidding on the SEDA Malaysia website from Feb 3 to March 24, 2027. “The government expects the new FiT quota to generate RM3 billion in investment, including RM510 million in purchases of locally installed gas engines and boilers,”it said in a statement yesterday. It said this initiative was also part of the government’s efforts to increase the share of renewable energy in the country’s electricity supply to 70 per cent by 2050. “The RE projects to be approved are expected to generate and supply green electricity as early as 2030,” it added.

o Stock opens at 43 sen, 10.4% below the initial public offering price of 48 sen

KUALA LUMPUR: Butterfield FB Bhd opened five sen below its initial public offering (IPO) price on its debut on the ACE Market of Bursa Malaysia yesterday. The manufacturer of coffee and tea extract powder blends opened at 43 sen, representing a 10.4% discount to its IPO price of 48 sen, with 5.27 million shares traded. Executive director and chief executive officer Lee Mong Khai said share price movements could be influenced by various factors beyond the group’s control, adding that Butterfield FB will remain focused on its longer-term plans. “Our priority now is to execute what we have listed in the prospectus. “We will work very closely and dedicatedly to achieve what we have listed in the prospectus,” he said. “I believe that valuation will follow execution, and delivery of

tourism better understand the evolving needs of international markets through direct engagement. Wong said Penang’s combination of business events infrastructure, heritage, food, creativity and diverse tourism experiences gave the state a distinctive advantage in offering visitors a more complete destination experience. He also acknowledged ACE for organising PITE and the Penang Convention and Exhibition Bureau for supporting the initiative, together with industry partners involved in this year’s edition. – Bernama players to primarily for the purchase of coffee and tea extract powders and other supplies. Another RM15.2 million will be allocated to expand the group’s headquarters in Bukit Minyak, Penang, including additional production and storage space and machinery acquisition. The group has set aside RM13 million for strategic investments and mergers and acquisitions involving brand owners of instant coffee and tea premixes. The remaining RM6 million will be for listing expenses. Butterfield FB also plans to establish a fourth manufacturing line, which will raise its total annual production capacity to 12,597 tonnes. The company currently operates two manufacturing lines for coffee and tea extract powder blends, alongside a matcha powder line that commenced operations in February. – Bernama

minimise the impact of sudden movements in commodity prices. “We want to deliver stable prices to our customers, regardless of what happens in the markets. “We have gained this experience for more than 20 years. I think this is very important know-how for us on how to still be present in this market,” he said. Butterfield FB’s subdued opening comes despite being oversubscribed 18.7 times. Its IPO comprised a public issue of 150 million new shares. The corporate exercise raised RM72 million. Of the proceeds, RM37.8 million has been earmarked by the company for working capital,

results will be important in creating sustainable value for shareholders over time,” Lee told a press conference after the listing ceremony here. On its plans for the next two years, Lee said Butterfield FB will focus on fully utilising the capacity it has created for matcha, coffee extract and tea extract powder blends. The group also intends to expand beyond its existing markets in Malaysia and Thailand, with other Asean countries and West Asia among the markets being considered. On fluctuations in coffee and tea raw material prices, Lee said the group works with suppliers from different regions and uses medium-term contracts with customers and suppliers to

PITE 2026 opens B2B segment to international exhibitors GEORGE TOWN: The Penang International Travel Exchange (PITE) 2026 will expand its international reach by opening its business-to business (B2B) segment to Wong said the buyer delegation would comprise representatives from markets including China, India, Indonesia, Thailand, Vietnam, international buyers with first-hand exposure to Penang through familiarisation programmes

He said the participation of international exhibitors would allow tourism businesses from abroad to connect directly with buyers and industry players from Penang and Malaysia, while also facilitating access to the wider regional and international tourism market. “This year’s edition will mark a new milestone with the B2B segment being opened to international exhibitors for the first time, creating opportunities for tourism businesses worldwide to connect with buyers and explore partnerships with Penang and Malaysian industry players,” he told a press conference at Komtar here.

covering the state’s heritage, culture, culinary offerings, attractions and hospitality. “This first-hand experience is important because these buyers are in a position to influence future travel programmes, incentive itineraries, group visits and business opportunities in their respective markets,” he said. He noted that the participation of corporate, incentive and association buyers could also generate opportunities for Penang’s business events sector, while allowing local

Singapore, Bangladesh, Australia, Romania and South Korea, reflecting continued interest in Penang and Malaysia from both established and emerging markets. He said about 50 exhibitors from across Malaysia, including hotels, destination management companies, professional conference organisers, attractions and other tourism service providers, were also expected to participate. Wong said the three-day programme would also provide

international exhibitors for the first time, creating new opportunities for tourism players to forge partnerships and tap into wider markets. State tourism and creative economy committee chairman Wong Hon Wai said yesterday the ninth edition of PITE, scheduled from Oct 27 to 29 at the Penang Waterfront Convention Centre (PWCC), is expected to bring together about 100 buyers from 13 international markets and regions.

Education retains its importance in the Malaysian landscape for parents, students and stakeholders. The changes are fast paced with new developments in new fields of study such as cybersecurity, data protection, augmented and virtual reality, machine learning in education, digital education and artificial Intelligence. Leading the way are universities, who are invited to showcase their latest programmes, curriculum and content in our Education Focus for 2026.

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