UOB Malaysia partners with Bursa Malaysia to support SMEs sustainability efforts
UOB Malaysia's chief executive officer Ng Wei Wei (left) and Bursa Malaysia chief executive officer Datuk Fad'l Mohamed (right).
KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has partnered with Bursa Malaysia Bhd to support small and medium enterprises (SMEs) in adopting sustainable practices and advancing their decarbonisation journey.
In a joint statement, UOB Malaysia and Bursa Malaysia said SMEs participating in the bank's sustainability accelerator programme 2.0 (SAP 2.0) will have access to the bourse's centralised sustainability intelligence (CSI) solution under this collaboration.
They said the access would reduce the complexities of emissions calculation and facilitate the uptake of relevant decarbonisation solutions.
UOB Malaysia's chief executive officer (CEO) Ng Wei Wei said that in addition to enhanced suites of SME-centric solutions available via the SAP 2.0, the bank would fund Bursa's CSI solution's subscription fees for its SME clients.
"Greenhouse gas (GHG) emissions reporting can be a daunting aspect of the decarbonisation journey, and by lowering this barrier and helping them calculate and report their GHG emissions more effectively, we hope to empower more SMEs to transition.
"I truly believe that strong public-private collaboration is essential to help businesses to decarbonise,' said Ng.
According to the statement, the collaboration aims to better equip participating SMEs to meet growing sustainability demands from stakeholders, including large customers like multinational corporations and public-listed companies (PLCs), for GHG emissions data for their "Scope 3' supply chain emissions reporting.
Meanwhile, Bursa Malaysia's CEO Datuk Fad'l Mohamed said this collaboration marks a significant step forward in expanding its CSI ecosystem to benefit a wider group of companies.
"Just as our CSI solution has empowered PLCs to meet disclosure obligations and guide their decarbonisation, we are now extending the same capabilities to SMEs, enabling them to progress on their sustainability journey,' he said. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
17 minutes ago
- Malaysian Reserve
Public Bank, Gamuda top foreign investor net outflow list
FOREIGN investors continued their streak of net outflows on Bursa Malaysia, extending it to a three-week selling trend, with Public Bank Bhd, Gamuda Bhd and KPJ Healthcare Bhd topping the list. The foreign investors recorded a net outflow of RM387.4 million, smaller than the previous week's outflow of RM1.02 billion, according to a report released by MIDF Research today. On the flip side, the counters that were net bought by foreign investors for the week ended June 6 were Sunway Construction Group Bhd, CIMB Group Holdings Bhd and My EG Services Bhd. –TMR
Malay Mail
23 minutes ago
- Malay Mail
Ringgit opens lower against US dollar as global economic outlook weighs on Asian currencies
KUALA LUMPUR, June 9 — The ringgit opened lower against the US dollar today as the greenback strengthened amid renewed volatility from a challenging global economy outlook for the second half of 2025. At 8.03am, the local note stood at 4.2375/2560 against the greenback, easing from Friday's close of 4.2270/2360. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to range between 4.23 and 4.24 today, following the stronger-than-expected United States (US) nonfarm payroll (NFP) data for May. He highlighted that the US NFP rose 139,000 in May, higher than the consensus estimate of 126,000, while the unemployment rate was sustained at 4.2 per cent for three consecutive months, pushing the US dollar index (DXY) higher on Friday to 99.190 points. 'The latest NFP print seems to suggest that the labour market in the US is still fairly resilient despite having to contend with higher tariffs,' he told Bernama. Nonetheless, Mohd Afzanizam said, April's NFP was revised lower to 147,000 from 177,000, and the US labour force participation rate declined to 62.4 per cent in May from 62.6 per cent in April. 'On that note, while the labour market is still chugging along, signs of further moderation in the data series have been gradually emerging. 'As business and consumer sentiments remain weak, the outlook for the second half of 2025 economy looks increasingly challenging. Hence, the case for a lower US Federal Fund Rate is gaining momentum in our view,' he added. He noted that the ringgit has gained against the greenback, with USDMYR closing at 4.2315, giving a week-on-week appreciation of 0.6 per cent last week. At the early session, the ringgit traded mostly lower against a basket of major currencies. It slightly increased against the Japanese yen to 2.9305/9435 from Friday's 2.9324/9390, but depreciated versus the British pound to 5.7367/7618 from 5.7212/7334 and eased vis-a-vis the euro to 4.8341/8552 from 4.8268/8371. The local currency also traded mostly lower against most of its Asean peers. It rose versus the Thai baht to 12.9468/13.0121 from 12.9599/9947 at Friday's close, while the ringgit decreased against the Singapore dollar to 3.2892/3041 from 3.2862/2934, dropped against the Philippine peso to 7.60/7.64 from 7.58/7.60 and fell against the Indonesian rupiah to 260.1/261.4 from 259.5/260.2. — Bernama
New Straits Times
37 minutes ago
- New Straits Times
Bursa opens higher, tracks Wall Street gains
KUALA LUMPUR: Bursa Malaysia opened higher today, tracking Wall Street's strong performance last Friday, supported by stronger-than-expected US jobs data that alleviated concerns over the economic outlook. At 9.25am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.33 or 0.15 per cent higher at 1,519.12 from Friday's close of 1,516.79. The benchmark index opened 1.27 points better at 1,518.06. Market breadth was positive, with gainers outpacing losers 261 to 160, while 300 counters were unchanged, 1,618 untraded and 21 suspended. Turnover stood at 328.6 million units valued at RM173.79 million. Rakuten Trade Sdn Bhd said the FBM KLCI failed to sustain its impressive performance on Thursday as the index stuttered to end just above the 1,515 level. The firm noted that the trading activities remained muted, as seen from the pathetic daily volume, which dwindled to below the two billion shares mark. "This could be attributed to the widespread downgrades of the benchmark index target for 2025 by the research fraternity recently. "As such, we expect the index to hover within the 1,510 to 1,520 range today," the firm added. On US stocks, Rakuten said the Wall Street closed broadly firmer on the back of higher-than-expected nonfarm payrolls, hence easing concerns of an imminent economic slowdown in the US. On the flipside, the firm noted that Tesla shares continue to slide amid the sparring match between Elon Musk and US President Donald Trump. Meanwhile, the US 10-year yield edged higher to 4.506 per cent. As for Hong Kong, Rakuten said the Hang Seng Index declined to below the 23,800 level amid some profit takings as the Xi-Trump phone call failed to address any overriding concerns, as more fresh catalysts are required to prop up the market.
