29/10/2026

BIZ & FINANCE THURSDAY | OCT 29, 2026

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The agriculture, forestry and fishing sector rose moderately by 2.9%, from 4.6% in the preceding month, with animal production up 11.9%. “The utility sectors also recorded increases, with electricity and gas supply and water supply rising by 5.5% and 3.2%, respectively,” it said. On a month-on-month basis, the PPI Local Production rose 1.6% in September 2026, up from 1.0% in August 2026. The mining sector recorded a 10.3% increase (August 2026: 6.7%), driven by the extraction of crude petroleum index (13.6%). The PPI local production increased by 10.8% in the third quarter of 2026, from a 7.4%% increase in the previous quarter; the increase was contributed by all sectors, particularly mining (41.9%) and manufacturing (8.8%) sectors. On a quarter-on-quarter basis, the PPI increased by 2.8%, slower than a 6.8% increase in the second quarter of 2026. – Bernama Malaysia calls for stronger global cooperation to ensure gas supply security KUALA LUMPUR: Malaysia has called for stronger international cooperation to ensure stable global gas markets and reliable energy supplies, emphasising that energy security is fundamental to industrial competitiveness, investment confidence and sustainable economic growth. The Ministry of Economy said in a statement yesterday that natural gas is not merely a transition fuel, but a strategic pillar of energy security, industrial competitiveness and sustainable development for Malaysia. As renewable energy deployment accelerates, natural gas will continue to provide the reliability and flexibility needed to support electricity systems and industrial activities, particularly amid rising energy demand across Asia and Asean, said the ministry. “Against the backdrop of geopolitical uncertainty, supply disruptions and price volatility, Malaysia emphasised the importance of market transparency, predictable policy frameworks and sustained investment across the natural gas value chain. “Greater cooperation between producers and consumers is essential to strengthening supply resilience and maintaining confidence in long-term energy investment,” it said. The ministry also said Malaysia reaffirmed the importance of deepening cooperation with members of the Gas Exporting Countries Forum (GECF) and observer countries in market intelligence, liquefied natural gas (LNG) trade, infrastructure development and technology exchange. “Malaysia remains committed to a pragmatic and balanced energy transition that safeguards energy security, affordability and environmental sustainability, to attract high-value investment, strengthening industrial productivity and sustaining long-term economic growth,” it said. – Bernama

(From left) Vertex Material co-founder and advisor Aiden Lee; Nasdaq vice chairman, Asia Pacific chairman head, international listings head Bob McCooey; Lai; Sky Dweller Group director Peter Dhillon Singh; Science, Technology Chang Lih Kan; and Vertex Material co founder and technical director Datuk Frankie Tan Chin Teon. and Innovation Minister Datuk

Vertex Material secures US$2.2 billion offtake deal o Firm expands commercial reach into India, prepares for proposed Nasdaq listing projects that mine supply from existing and announced projects could fall approximately 25% short of primary copper requirements by 2035.

minimum,” he told reporters at a press conference after the signing ceremony. He said the company preferred Nasdaq over a local listing as it sought to tap into US government incentives and strengthen its presence in the American market. The proposed Nasdaq listing remains subject to the relevant regulatory requirements and approvals.

Lai said the company was focusing on applications where its technology could improve material efficiency without compromising performance. “The question is not simply how much copper a material contains, but whether it can do what is required. Our focus is on applications where we can make each tonne of copper go further while meeting the required performance,” he added. To support its growing commercial pipeline in North America and India, Vertex Material is evaluating potential sites in Arizona for a manufacturing facility with a targeted eventual annual production capacity of one million metric tonnes. Commercial production is targeted to begin in 2028, subject to final site selection, financing and regulatory approvals. Lai said the company’s immediate priority was to establish its US operations before considering further expansion into other markets. He said the United States was a strategic location for the planned facility as it offered access to copper supplies from nearby producers, including Canada, Chile and Peru. Vertex Material is also targeting a proposed Nasdaq listing in the second or third quarter of 2027, through which it plans to raise between US$300 million and US$400 million. Lai said the company had appointed the necessary advisers and was preparing its audits, regulatory filings and supporting documentation for the proposed listing. “We are planning to raise close to about US$300-US$400 million

Ű BY NIK ZARIF AZHAN sunbiz@thesundaily.com

an industry player globally,” he said at the Vertex Material Business signing ceremony yesterday. Lai said the agreement would broaden the company’s commercial opportunities through its partnership with Sky-Dweller while complementing its existing distribution network in North America. “The offtake agreements allow Vertex Material’s proprietary copper-composite material to be supplied to India, which broadens the commercial opportunities we can pursue through the partnership, complementing our established distribution footprint in North America,” he added. According to figures from the International Copper Association India reported by the India Brand Equity Foundation, India’s copper demand rose 12% year-on-year to approximately 2.1 million tonnes in financial year 2026, driven by infrastructure development and growth in the automotive and construction sectors. Vertex Material develops copper composite materials designed to retain much of copper’s thermal and electrical conductivity while offering corrosion resistance and improved machinability. The technology aims to reduce the amount of pure copper required in suitable industrial applications amid concerns over tightening global supply. The International Energy Agency

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advanced-materials company Vertex Material has secured a 15 year offtake agreement valued at approximately US$2.2 billion (RM9 billion) with US-based Sky-Dweller Construction LLC as it expands its commercial reach into India and prepares for a proposed Nasdaq listing in 2027. The agreement builds on the companies’ existing distribution arrangement in the United States and Canada, and is expected to strengthen Vertex Material’s commercial pipeline as it scales up its planned manufacturing operations. Sky-Dweller, part of Aurelius Materials, will support the expansion into India, targeting industrial manufacturing, electrical and energy infrastructure, and electronics-related thermal management applications. Vertex Material CEO Chris Lai said the agreement would strengthen the company’s position as it expands its international reach. “Our task is to turn the material we have developed here in Malaysia into products that global manufacturers can readily adopt. “The expansion into the Indian market will further increase the viability of the US facility. “This US$2.2 billion offtake provides a solid foundation for that next stage in making Vertex Material

Producer Price Index up 12% in September: DoSM

KUALA LUMPUR: Malaysia’s Producer Price Index (PPI) increased by 12.0% in September 2026, from 10.7% in August 2026, according to the Department of Statistics Malaysia (DoSM). On an annual basis, DoSM said among the main sectors in PPI, mining recorded a substantial increase of 54.1% in September 2026, compared with 41.2% in the previous month. “This was primarily driven by the extraction of crude petroleum, which increased by 74.2%,” it said in its PPI Local Production report for September 2026. The PPI measures changes in the prices domestic producers receive for their goods and services, before they reach consumers. DoSM said the manufacturing sector increased by 9.4%, from 8.8% in August 2026, mainly contributed by the manufacture of coke and refined petroleum products (35.0%) and the manufacture of computer, electronic and optical products (12.9%).