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Petronas Is Said to Explore Sale of $7 Billion Canadian Business
Petronas Is Said to Explore Sale of $7 Billion Canadian Business

Bloomberg

time17 hours ago

  • Business
  • Bloomberg

Petronas Is Said to Explore Sale of $7 Billion Canadian Business

Petroliam Nasional Bhd. is considering options for its Canadian company formerly known as Progress Energy Resources Corp., including a sale, according to people familiar with the matter. Petronas, as the Malaysian state energy firm is known, is working with a financial adviser on a potential disposal, the people said, asking not to be identified because the deliberations are private. A transaction could value the Canadian business at $6 billion to $7 billion, they said.

How Greater Purpose Is Giving Canadian Businesses A New Way To Lead With Impact
How Greater Purpose Is Giving Canadian Businesses A New Way To Lead With Impact

Forbes

timea day ago

  • Business
  • Forbes

How Greater Purpose Is Giving Canadian Businesses A New Way To Lead With Impact

Shaping the next generation of business Today marks the official launch of Greater Purpose, a Canadian platform built to bring together businesses that want to integrate purpose into the very core of how they operate. For Brad Offman, founder of Greater Purpose, this is the culmination of years spent listening, learning, and bringing together leaders ready to stand up for what matters most. 'We've actually been building this community for several years, starting with the launch of The Partnership Conference in 2019,' Brad says. 'But as much as I love our Conference and our other Regional Events, there are some real limitations. Events are ephemeral and short-lived. While they might be foundational to creating a movement, they aren't enough. We needed to fill the space that exists between events and in our view, that could only be done by creating a community that would drive our objectives on an ongoing basis.' Greater Purpose is that space: a membership community where businesses can share insights, connect with peers, and amplify their commitment to social purpose. From exclusive events and a trusted purpose mark to brand visibility and a private online community, it offers a home for changemakers who believe in using business as a force for good. Brad Offman, Founder and Chief Executive Officer A New Definition of Success For Brad, this work is deeply personal. Having spent most of his career in the corporate world—including time as a senior executive at a large financial institution—he understands that profitability and purpose aren't in conflict, they're intertwined. 'Greater Purpose defines success by commitment to social purpose. Wherever a business is on the path to purpose, there's a place for it in Greater Purpose,' he says. 'I've spent most of my career in the corporate sector, most recently as a senior executive at a large financial institution. I recognized early on that a company could change the world by leveraging its assets in the name of social good, and that didn't have to come at the expense of profitability or shareholder value. That was a profound moment for me.' The Power of Community Brad is clear that community is not just a feature—it's at the heart of everything. 'Community is such a critical part of the purpose journey,' he says. 'Change becomes easier when everyone gets on board. Changemakers are often outliers, especially in large companies. We provide a community to let these changemakers understand that they are not alone.' It's about connection and collaboration, but also about belonging. 'Community is the foundation for collaboration, trust, and a profound sense of belonging. It is a critical element for driving the change we are driving to achieve.' Purpose in Practice From startups to established corporations, Greater Purpose's members come from all corners of the economy. But what unites them isn't a single set of metrics—it's a shared commitment to finding and living their reason for being. 'What unites our members is a commitment to finding and understanding their very reason for existing,' Brad says. 'Purpose isn't about impact, employee engagement, inclusion, sustainable procurement and good governance—but at the same time, it's about all of those things. Once a business, or an individual, defines its purpose, it becomes easier to answer existential questions about its strategy and its direction.' What's most inspiring to Brad is seeing how purpose becomes a strategic North Star. 'What is unexpected is how many companies are thinking about purpose as a core strategic driver,' he says. 'It makes everything easier because it defines as a company what you will do, and just as importantly, what you will not do. Companies all have unique assets, and watching them deploy these assets in the name of their purpose is truly a fascinating sight to behold.' Mission of Greater Purpose: To build the most dynamic business community for social purpose ... More professionals A Defining Moment for Canada As the world faces profound shifts, Brad sees a rare opportunity for Canadian companies to lead. 'We're living in very, very interesting times,' he says. 'The current geopolitical environment is forcing many companies to rethink their place in the world, and what's most interesting is that parts of the shift have happened virtually overnight.' Even though Greater Purpose wasn't created in direct response to these turbulent times, Brad believes it's exactly what's needed right now. 'While we didn't create Greater Purpose in the context of the current geopolitical situation, I think having the haven of a purpose-driven community will provide an outlet for companies that are truly committed to this work,' he says. And in those conversations with leaders across Canada, Brad hears something powerful: 'Canada is rethinking its purpose, and there is a powerful sense that Canadian companies can be global leaders when it comes to purpose. This isn't anecdotal. I'm talking to business leaders everyday and there's a sense that this is Canada's time to shine.' Yet he's quick to emphasize that defining purpose is only the beginning. 'Paul Klein, another Forbes contributor, reminded me recently that having a strong purpose is merely the first step,' he notes. 'That purpose needs to be activated, and it needs to be activated quickly and immediately. Otherwise, we will miss this golden opportunity to take the lead on this issue, and demonstrate that companies truly have the power to change the world through a well-defined and thoughtfully activated purpose. The time is NOW.' For Brad Offman and the growing community at Greater Purpose, today's launch is about more than a new platform. It's an invitation—to rethink what it means to do business in Canada, to lead with integrity, and to prove that the future isn't just about what you sell—it's about what you stand for.

EDC launches representation in Thailand, opening new doors for Canadian exporters
EDC launches representation in Thailand, opening new doors for Canadian exporters

Yahoo

time26-05-2025

  • Business
  • Yahoo

EDC launches representation in Thailand, opening new doors for Canadian exporters

With an expanded presence in Southeast Asia, EDC can help Canadian companies seize opportunities in the region's third-largest market OTTAWA, ON and BANGKOK, May 26, 2025 /CNW/ - Export Development Canada (EDC) is pleased to announce the opening of its newest Asian representation in Bangkok, Thailand, marking a significant milestone in EDC's Indo-Pacific strategy. This expansion underscores EDC's commitment to supporting Canadian businesses in navigating and capitalizing on the dynamic and rapidly evolving Thai market. Thailand is a key driver of economic growth in Southeast Asia, and as one of the region's largest economies, boasted a gross domestic product (GDP) of over $500 billion in 2024. The country's strategic location at the heart of Southeast Asia, coupled with developed infrastructure and a business-friendly environment, makes Thailand an important hub for Canadian trade and investment in the Indo-Pacific region. Canadian exporters have already had success in the market, growing trade to Thailand by $1 billion, or 17%, between 2019 and 2024. "EDC has long focused on trade diversification to help Canadian companies seize opportunities beyond our traditional markets," said Alison Nankivell, President and CEO, EDC. "The new representation in Bangkok is part of EDC's broader Indo-Pacific strategy, aimed at investing in resources and relationships that align with both Canadian strengths and Thailand's economic and sustainability priorities. For companies looking to diversify into the Thai market or to establish a long-term presence, we're here to help you." This newly launched representation in Bangkok will provide vital assistance for Canadian exporters, helping these companies navigate the Thai market and seize on the country's growth opportunities. Agri-food, infrastructure, aerospace and clean technology are key sectors for Canadian exporters in Thailand. In 2024, EDC supported over 200 customers in Thailand, helping generate more than $350 million in business, and with potential for much more. Southeast Asia is a region with strong potential and has emerged as a priority market for Canadian companies. EDC's financing, insurance and knowledge solutions are designed to help companies manage trade-related risks, expand internationally and reach new markets. Our in-market staff in both Canada and in the Indo-Pacific region collaborate closely with Government of Canada trade partners, working alongside the Trade Commissioner Service and Global Affairs Canada to help Canadian exporters navigate the challenges of entering new markets and capitalize on growth opportunities in key sectors. "Thailand's strategic location and robust economic growth make it a valuable trade and investment partner for Canada in the Indo-Pacific region," said Sara Wilshaw, Senior Assistant Deputy Minister International Trade, and Chief Trade Commissioner Global Affairs Canada. "EDC's new presence in Bangkok aligns with the Government of Canada's broader strategy to strengthen bilateral trade relations and support Canadian companies as they explore new opportunities in this vibrant market." Canada and Thailand share a robust trade relationship, with bilateral trade upwards of $6 billion in 2024. Thailand's participation in the Association of Southeast Asian Nations (ASEAN) Free Trade Area and Canada's involvement in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) strengthen trade positions in the region. With Thailand's commitment to achieving carbon neutrality by 2050 and net-zero emissions by 2065, there are significant opportunities for Canadian companies specializing in renewable energy, energy efficiency solutions and sustainable technologies. The new Bangkok representation, led by Chief Representative Cindy Lim, complements EDC's existing Indo-Pacific representations in New Delhi, Mumbai, Shanghai, Beijing, Jakarta, Seoul, Tokyo, Ho Chi Minh City, Manila, Sydney as well as a branch in Singapore. About EDC Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit SOURCE Export Development Canada View original content to download multimedia:

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