Latest news with #Faiz
The Sun
2 days ago
- Business
- The Sun
Investments crucial in advancing Asean sustainability agenda: SC chairman
KUALA LUMPUR: Investments are crucial in accelerating Asean's sustainability journey, particularly in the development of green industries such as renewable energy, clean technology, and regional carbon markets. To achieve carbon neutrality by 2050, the region will require an estimated US$3.7 trillion to US$6.7 trillion (RM15.6 trillion to RM28.3 trillion) in green investments. Securities Commission Malaysia (SC) chairman Datuk Mohammad Faiz Azmi highlighted that Southeast Asia accounted for only 2% of global clean energy spending in 2023, underscoring the significant gap between current investment levels and the region's long-term sustainability goals. 'Mobilising sufficient financing will be key to managing our transition successfully,' he said at the SIDC–CASI Sustainable and Responsible Investment (SRI) Conference 2025 today. Faiz noted that Asean is poised to be a major contributor to global growth in the medium term, with its share projected to be about 33.7% of global gross domestic product. However, he stressed that sustained resilience is essential amid ongoing geopolitical and economic uncertainties. Elaborating on how the SC and its regional counterparts are working to ensure capital markets support a sustainable Asean, Faiz said it involves promoting the adoption of sustainable financing through the development of taxonomies to identify green activities and projects. 'The Asean Taxonomy for Sustainable Finance serves as a template to assess and classify eligible green activities,' he said. Six key sectors – energy, transport and storage, construction and real estate, agriculture, manufacturing, and water and waste management – which together contribute 85% of the region's greenhouse gas emissions, have been prioritised. 'The technical screening criteria developed for these sectors will help attract sustainable investments and financing,' Faiz said. He emphasised that sustainable growth requires ongoing investment in resources and capacity-building. 'The SC is facilitating the establishment of an association for sustainability practitioners – including preparers, auditors, and other related professionals – to address current and future training needs, develop relevant skills, and set professional standards,' he said. Malaysia's Asean chairmanship includes leading the Asean Capital Markets Forum (ACMF), a regional platform for securities regulators. Underscoring the importance of decarbonisation, Faiz noted that the ACMF recently issued the Asean Transition Finance Guidance to help companies create credible transition plans and secure the necessary financing. 'Carbon markets and mechanisms are taking shape across Asean member countries, and the ACMF is assessing the feasibility of introducing Voluntary Carbon Market Guidelines,' he said. On the challenge of adaptation financing, Faiz pointed out that many adaptation projects – such as seawall construction – lack commercial returns and rely heavily on public funding. 'There could be a role for market-based financing solutions if we can enhance the bankability of these projects.' The SIDC–CASI SRI Conference 2025, jointly organised by the Securities Industry Development Corporation (SIDC) and the Capacity-building Alliance of Sustainable Investment (CASI), opened yesterday with a series of insightful dialogues, strategic partnerships and immersive experiences showcasing sustainable practices in Malaysia. The three-day conference, which began yesterday, has attracted over 300 local and international delegates under the theme 'Shaping the Future of Asean Business in Sustainability'. A key highlight is the signing of a memorandum of understanding (MoU) between SIDC and CASI, formalising a long-term collaboration to advance sustainable finance education and talent development across Asean and other developing regions. The MoU outlines a strategic framework for academic and professional cooperation, focusing on joint initiatives that enhance capacity in sustainable finance, particularly within emerging markets. SIDC CEO Tengku Zarina Tengku Chik stated that the ongoing collaboration reflects a shared commitment to developing sustainable finance competencies not only in Malaysia but also across emerging markets in Asia and beyond. CASI chairman Dr Ma Jun said the partnership with SIDC marks a significant step forward in promoting sustainable finance education and talent development across Malaysia and the Asean region. Throughout the conference, participants will delve into critical topics such as ESG disclosures, Islamic SRI, sustainability taxonomies, carbon markets, green skills, and just transition financing, reinforcing Malaysia's leadership in building a vibrant and resilient regional SRI ecosystem.
New Straits Times
6 days ago
- Politics
- New Straits Times
DBKL officers remove opposition rally stage at Dataran Merdeka
KUALA LUMPUR: The main stage for the 'Turun Anwar' rally at Dataran Merdeka, including its backdrop, was dismantled by Kuala Lumpur City Hall (DBKL) enforcement officers at about 11.20am today. According to an enforcement officer on duty, the structure was removed on instructions from the police and was to be relocated to Masjid Negara. However, the officer declined to elaborate and directed reporters to refer to the police for further details. Two four-wheel-drive (4x4) vehicles were used as a makeshift main stage for today's rally. Bersatu ARMADA deputy chief Faiz Rahmad said the organisers were left confused by the turn of events. He claimed there should not have been any issue with the stage structure or the metal frame used to hang the rally banner in front of the Sultan Abdul Samad Building. Faiz said both police and DBKL officers had been on site at about 3am to "negotiate" and had agreed to allow the rally secretariat to set up the stage and hang the banner. "At 3am, they said it was okay. But suddenly this morning, they told us it was not allowed and removed the stage we had set up. "Then they told us to use two 4x4 vehicles as the stage and to hang the banner on the side of the vehicles instead," he claimed.
Business Recorder
6 days ago
- Business
- Business Recorder
TDAP will focus on comprehensive export development, investment facilitation: CE
LAHORE: Faiz Ahmad Chadhar, Chief Executive, Trade Development Authority of Pakistan (TDAP) has declared that the role of TDAP will not be limited to organizing delegations and exhibitions but will focus on comprehensive export development and investment facilitation. He emphasized that Pakistan's business community will experience a transformation in TDAP working, with a shift towards long-term facilitation and strategic trade and investment development on this occasion. Faiz expressed his views while talking to leading textile exporters on his visit to APTMA on Friday along with senior TDAP Officers. Kamran Arshad, Chairman; Asad Shafi, Chairman North; Ahmad Shafi, Vice Chairman, Mohammad Qasim, Treasurer, Raza Baqir, Secretary General of the Association and senior members of APTMA, welcomed him on his visit to APTMA. Faiz stated that TDAP serves as the marketing and facilitation arm of the government and will become the strongest advocate for the business community at both federal and provincial levels. Regardless of the issue or department involved, TDAP will stand at the forefront to support and facilitate businesses, ensuring that exporters and investors receive due assistance they need to succeed in international markets. Faiz added that TDAP will focus on key sectors such as Textiles and apparel, Agro-food, Leather, Petroleum, and Renewable Energy. He highlighted that the country has more than 40 Trade & Investment Officers (TIOs) stationed in major markets all over the world who are always available to create new opportunities for Pakistani businesses in international markets. He urged the exporters to avail services of these trade officers for expansion of their export business and seeking collaboration with foreign investors. Faiz highlighted structural changes in Pakistan's trade diplomacy, with commercial counsellors now re-designated as trade and investment officers, subject to quarterly performance reviews. He warmed that underperforming officers would face recall. Speaking on this occasion Kamran Arshad, Chairman APTMA stated that the gravest problems of the industry is exorbitant energy cost. He talked of Pakistan brand introductions overseas to fetch highest value as currently Pakistani products are being retailed overseas at five times higher price. He added that Pakistan should have at least 10% annual growth in exports to get rid of foreign loans. He added that role of TDAP is to promote whole value added chain and facilitate all levels of supply chain to ensure quality of products. Earlier Kamran Arshad, Chairman APTMA highlighted the strengths and potential of Pakistan's textile industry, noting that the sector is on an upward trajectory with an ambitious export target of $50 billion within the next five years. He requested the government for creating an enabling environment for the growth of the textile industry to upsurge exports and earn valuable foreign exchange for the country. Kamran said that the government had announced in the federal budget about imposition of sales tax on import of cotton, yarn and greige cloth under EFS to provide even playing field to local industry but its implementation is yet awaited despite expiry of considerable period due to non issuance of notification by FBR. He requested the Chief Executive TDAP to use his good offices for immediate issuance of the requisite SRO for revival of textile industry. To upsurge exports, chairman APTMA proposed immediate restoration of Regionally Competitive Energy Tariff (RCET) of $9/KWH for electricity and $9/MMBTU for gas. He requested for zero rating of export oriented sectors or alternately introducing graduated tax regime with 5% at initial stage, 10% at intermediary stage and standard rate for end product. Asad Shafi, Chairman North, speaking on the occasion demanded immediate payment of pending sales tax refunds, diversification of export markets, development of E-markets, Capacity building on EU Digital Product Passport, EU Green Deal Regulations, technology adoption and reverting back to the same income tax regime as existed before the current year budget. Copyright Business Recorder, 2025
New Straits Times
6 days ago
- New Straits Times
No chemical leakage from Second Link accident, says Hazmat team
ISKANDAR PUTERI: There was no chemical leakage following the accident involving two ISO tank trailers on the Second Link bridge, at KM0.8 of the North-South Expressway here yesterday. Iskandar Puteri Fire and Rescue Department (BBP) chief Mohd Faiz Suleiman said this was based on the assessment and monitoring carried out by the special hazardous materials (Hazmat) team of the Johor State Fire and Rescue Department (JBPM) at the accident site. "The Hazmat team measured the air quality at the site using a Gasmet FTIR detector and a GFG multi gas detector. It was found that the air condition at the scene was safe. "Observations for the presence of foam, oil traces or discoloration on the sea surface also found no signs of chemical substances," he said in a statement today. He added that the trailer carrying propylene glycol had been towed away by the time the Hazmat team arrived at the scene. Faiz said the location where the ISO tank fell into the sea was taken over and secured by the Marine Police Force (PPM) and the Marine Department. "After confirming that the ISO trailer had no leakage and was not carrying any cargo at the time of the incident, the case was handed over to the police," he said. Mohd Faiz said the operation was concluded at 11pm. Yesterday, it was reported that a chemical cargo tank fell into the sea from a trailer involved in an accident on the bridge. The accident involved two trailers, one carrying propylene glycol and the other carrying sodium hypochlorite. It was understood that the accident also caused a motorcycle to skid and fall, but the rider was not seriously injured and left the scene afterwards. The incident was reportedly caused by the chemical trailer being rear-ended while parked on the Second Link bridge due to a tyre puncture.
New Straits Times
24-07-2025
- New Straits Times
Chemical trailer plunges into sea after collision on Second Link
ISKANDAR PUTERI: A trailer transporting chemicals plunged into the sea following a collision with another chemical tanker on the Second Link bridge this evening, prompting the immediate deployment of a hazardous materials (hazmat) unit. The incident occurred at Km0.8 of the Plus highway's Second Link stretch, near the Malaysian border checkpoint, at 5.41pm. Fire and Rescue Department personnel from the Iskandar Puteri station and the Larkin hazmat unit were dispatched to the scene, arriving within 16 minutes. Operations commander Mohd Faiz Suleiman said a red trailer carrying propylene glycol had fallen into the sea, while the second trailer, white in colour and transporting sodium hypochlorite in a stainless steel container, remained on the bridge and was not compromised. Both drivers survived the crash. The driver of the red trailer was taken to the Gelang Patah health clinic for treatment, while the other driver escaped uninjured. Faiz said preliminary visual checks showed no signs of leakage from the submerged propylene glycol tank. "There was no surface foam, slicks or bubbles detected. However, the hazmat unit has been deployed to monitor the site and ensure there is no environmental contamination," he said. Propylene glycol is a clear, syrupy liquid widely used in cosmetics, pharmaceuticals, food additives and industrial coolants. Although considered low in toxicity, large spills must be handled with care to prevent harm to aquatic life and water systems. Sodium hypochlorite, meanwhile, is commonly used as a disinfectant and bleaching agent. Authorities have confirmed that there was no leakage from the second vehicle. The crash came just a day after Malaysian and Singaporean authorities conducted a joint chemical spill simulation exercise designed to enhance response coordination along the Second Link in the event of hazardous material incidents. The bilateral drill, which covered both land and sea containment strategies, simulated a chemical leak and tested joint response capabilities, a scenario eerily echoed in today's accident. As of press time, operations to secure the crash site and monitor the submerged tank were ongoing. Traffic along the Second Link remained congested but under control. The New Straits Times has contacted Johor Health and Environment Committee chairman Ling Tian Soon and the police for further comment. Statements are expected soon.
