Latest news with #Gan
Focus Malaysia
7 hours ago
- Business
- Focus Malaysia
Kington Tong no longer a substantial shareholder in Kinergy but Gan Kong Hiok emerges as one
MAIN Market-listed one-stop provider of sustainable energy and engineering solutions Kinergy Advancement Bhd (KAB) (formerly Kejuruteraan Asastera Bhd) has revealed that Kington Tong Kum Loong has ceased to be its substantial shareholder with immediate effect. This followed his disposal of an additional direct interest of 25.04 million shares in KAB yesterday (July 29) via direct business transaction, according to a Bursa Malaysia filing today (July 30). Upon review of Tong's past activities and shareholdings in KAB, he had never held any management position or served on the latter's board. In other words, his previous stake in the company had not had any influence on KAB's management structure or operations. As such, the change in his shareholding is not expected to impact KAB's governance, strategic direction nor on-going operations. Interestingly, KAB has found a new substantial shareholder in Datuk Gan Kong Hiok about the same time Tong ceased to be the group's substantial shareholder. The enterprising businessman had acquired 63.33 million shares in KAB on July 24 through a direct business transaction to raise his shareholding level to 128.61 million shares which are equivalent to a 6.05% stake, according to a Bursa Malaysia filing today (July 28). Widely recognised within Malaysia's corporate circles for his disciplined investment philosophy and a strong commitment to long-term value creation, Gan had significantly contributed to its expansion of PK Resources Bhd while serving as its executive director and managing director prior to his stepping down in 2007. An alumnus of Aston University and University of Oxford, Gan is currently involved prominently as a major investor and board member in several reputable companies, including Nextgreen Global Bhd – a leading green technology enterprise in Malaysia where he holds over a 12% stake. Known for his strategic patience, steady accumulation approach and a strong conviction in transformative sectors such as green technology, Gan exemplifies an investment philosophy centred on companies with long-term growth trajectories. Gan's pursuit of businesses with sustainable growth potential reinforces confidence in KAB's strategic direction and strengthens its position within its respective industry. On this note, he has farther acquired 25.054 million shares via direct business transaction yesterday (July 29) to raise his direct stake in KAB to 153.65 million shares or 7.22%. At 2.58pm, KAB was down 0.5 sen or 1.52% to 32.5 sen with 4.98 million shares traded, thus valuing the company at RM691 mil. – July 30, 2025
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CNA
a day ago
- Sport
- CNA
Katie Ledecky wins women's 1,500m freestyle, Gan Ching Hwee finishes seventh at World Aquatics Champs
US swimmer Katie Ledecky (top) and Singapore swimmer Gan Ching Hwee (bottom) in action during the Women's 1500m Freestyle Finals By CNA/Wallace Woon Gan is the only Singapore swimmer to have made a final in this edition of the World Aquatics Championships. 22-year-old Gan started strong with the fastest reaction time of 0.64 seconds. Ledecky, the most decorated female swimmer in history, led the race from start till end. Gan (above) clocked a time of 16:01.29 in the heats, besting her previous record by nine seconds. Ledecky (below) came within one second of her championship record. Ledecky's win is her 22nd world championship gold medal, extending her dominance in the event. Among those who attended the race were President Tharman Shanmugaratnam (pictured) and International Olympic Committee president Kirsty Coventry. Next Story
CNA
a day ago
- Business
- CNA
US 'non-committal' on whether level of tariffs with Singapore will stay at 10 per cent: DPM Gan
SINGAPORE: The US is not ready to discuss potential concessions to the 10 per cent baseline tariff on all goods entering the country, Deputy Prime Minister Gan Kim Yong said on Tuesday (Jul 29). But Singapore has expressed its interest in negotiating that levy, he said in an update on the tariff situation in his first public engagement after returning from a trip to the US from Jul 20 to Jul 26. Mr Gan added that the US was also "non-committal" as to whether the level of tariffs will remain at 10 per cent. He was speaking at an Institute of Policy Studies (IPS) and Singapore Business Federation (SBF) conference, "Global-City Singapore: SG60 and Beyond", in a dialogue moderated by geopolitics editor at The Economist David Rennie. Asked by Mr Rennie if it seems like the US is likely to disengage with the world and pull back to its own shores, Mr Gan said he did not get that sense during his trip. The US still seems keen to work with Europe and build businesses, though their priorities may vary in different periods of time, he said. While in the US, Mr Gan met with US Cabinet Secretaries, members of Congress and business and private-sector representatives. He also participated in a business roundtable organised by the US Chamber of Commerce to discuss international and regional economic developments, and opportunities for collaboration between US and Singapore companies. Mr Gan said his first question to US officials was whether they were open to negotiations on the 10 per cent tariff that Singapore is subject to, and whether it could be reduced or removed. 'I think the answer for the time being was quite obvious – they are not in the mood to discuss any discount to the baseline tariff,' he said. 'But we also want to put a place marker to remind (the US that) at any point in time, in future, if there's flexibility to discuss the baseline tariff, we are interested in negotiating.' He also asked officials if the baseline tariff will stay at 10 per cent or if it will go higher or lower. 'The answer was non-committal. They are still reviewing the tariff, and in time to come they will make an appropriate announcement, so we just have to wait and see,' said Mr Gan. Even if the baseline tariff changes, no one can tell if that will be the final rate, he added, noting that the level of uncertainty has increased. He said he did not have the chance to meet US Secretary of Commerce Howard Lutnick when he was in Washington, and hence, did not have detailed negotiations on pharmaceutical tariffs. Mr Gan previously said that the US and Singapore had plans to discuss preferential or 'zero' tariffs on pharmaceuticals. 'I think the administration's focus now is to finish the negotiation on reciprocal tariffs, so after that, they will start to engage countries on specific sectoral tariffs on pharmaceuticals and semiconductors,' he said. There have been discussions on how to ensure Singapore's access to artificial intelligence equipment and semiconductors, but not on tariffs. LOGIC BEHIND THE TARIFFS Replying to a question from the moderator Mr Rennie, Mr Gan also said the US does have a rationale for imposing trade tariffs. 'Whether you agree or not, that's a separate issue,' he said. The three key considerations are: generating revenue for the US, balancing trade between the US and other countries, and bringing manufacturing back to the US. 'If you look at the baseline tariff, it is fundamentally for purposes of generating revenue for the US administration, partly to fund the tax incentives for the companies and other expenses,' he said. Reciprocal tariffs are country-specific and are related to whether the US buys more from a country than the country buys from the US. If the US has a large trade deficit with a country – meaning that the US buys more goods from it than it buys from the US – a higher reciprocal tariff is likely to be applied. That will discourage US consumers from buying goods from that country. When meeting congressmen in the US, Mr Gan said he tried to emphasise that the US has a trade surplus with Singapore, along with the good relationship and deep engagement between the two countries. Finally, sectoral tariffs are meant to bring manufacturing industries back to the US to create jobs. Mr Gan said inflation appears to be muted in the US, though it may be that costs go up in the second half of the year. He added that the US economy appears to be 'relatively resilient', and businesses are cautiously optimistic. Another topic that was discussed in the dialogue was whether it is worth negotiating with the US administration, with moderator Mr Rennie noting that a free trade agreement did not protect Singapore from tariffs. Mr Gan said such agreements remain important to Singapore, given that trade is three times our gross domestic product. 'If not for the free trade agreement, we may not have a baseline tariff,' he pointed out. 'This is hypothetic so it's very difficult to guess.' But he said free trade agreements are not just about removing tariffs, and Singapore has collaborated with the US in areas such as sustainability, energy and research. The process of negotiating an agreement deepens understanding between two countries. As the agreement is implemented, it builds trust and confidence as well, he said. 'I think suffice to say the FTA has a value in strengthening the trade between the two countries and to also put us in a stronger position as we negotiate tariffs with the US.'
Borneo Post
a day ago
- Business
- Borneo Post
China strengthens enterprise role in innovation-driven development
China is stepping up efforts to solidify the role of enterprises as a core driver of innovation, as officials and experts urge a stronger synergy between scientific and industrial innovation to foster new quality productive forces. – AFP file photo BEIJING (July 29): China is stepping up efforts to solidify the role of enterprises as a core driver of innovation, as officials and experts urge a stronger synergy between scientific and industrial innovation to foster new quality productive forces. Enterprises should lead in identifying innovation needs, investing in R&D, and applying results, said Liu Qing, director of the National Innovation Center par Excellence, at the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency. 'The biggest challenge lies in uncovering real demand,' Liu noted. To address this, the center has supported leading firms with research funding and co-developed technology roadmaps focusing on their specific needs, as well as those of their upstream and downstream partners. Qin Haoyuan, an official with the Ministry of Science and Technology, said efforts are underway to institutionalize enterprise-led innovation by reinforcing their role in decision-making, R&D investment, research organization, and commercialization. More enterprises are being supported to participate in key national research projects, with improved tax policies aimed at encouraging greater R&D spending, Qin noted. In terms of research organization, leading tech enterprises are encouraged to take the lead in forming innovation consortia with universities, research institutes, and small and medium-sized enterprises, to build high-level innovation platforms, Qin added. Echoing this, Gan Xiaobin, an official with the Ministry of Industry and Information Technology, emphasized the need to expand enterprise participation in the drafting of relevant guidelines and project evaluations. Task-oriented and competitive mechanisms are being introduced to mobilize enterprises to address key technological challenges, Gan added. Gan noted that truly integrating new technologies into enterprises requires moving beyond basic usability toward solutions that are widely adopted and valued. He said the ministry would continue to support leading firms and innovative enterprises to build manufacturing innovation centers and key laboratories. China enterprise innovation
Straits Times
2 days ago
- Sport
- Straits Times
Gan Ching Hwee breaks 2 national records, qualifies for World Aquatics C'ships 1,500m final
Over two days, Singapore's Gan Ching Hwee has set new national records in the women's 400m, 800m and 1,500m freestyle. SINGAPORE – Singapore's distance swimming queen Gan Ching Hwee continued to make strides in the pool on July 28, when the 22-year-old smashed two more national records and clinched a spot in the 1,500m freestyle final at the World Aquatics Championships (WCH). Her time of 16min 1.29sec in the heats – almost nine seconds under the 16:10.13 she swam in the Paris 2024 Olympics heats to narrowly miss the final – also earned her a spot in the championships final as the fastest Asian swimmer. Swimming in Heat 2 at the WCH Arena, she touched the wall third behind Australia's Lani Pallister (15:46.95) and Italy's defending champion Simona Quadarella (15:47.43). She placed fourth out of 27 athletes overall, as American legend Katie Ledecky topped Heat 3 in 15:36.68 to qualify for the July 29 final. Gan's front 800m split of 8:29.93 was also a new national record – her previous best in Paris 2024 was 8:32.37. It was the Singaporean's third national records in two days, after she won her 400m freestyle heat and finished 13th overall in a new mark of 4:09.81 on July 27. Lynette Lim's previous record of 4:11.24 was set in 2009. She told The Straits Times: 'I don't think it has sunk it that much yet. The race was quite exhausting, I gave it my absolute all, and I couldn't have asked for a better outcome. I wasn't expecting to break the 800m free national record, and didn't know until I was on the way back from the pool. 'After how close I came in Paris, that definitely gave me a lot of motivation going into this race to be in the top eight. This being my first WCH final, coming 36 hours after the heats, I don't want to set any expectations, I just want to do my best and work on the small details that were lacking from the heats.' Top stories Swipe. Select. Stay informed. Asia Thailand, Cambodia agree to 'immediate and unconditional ceasefire' to de-escalate border row Singapore Tanjong Katong sinkhole backfilled; road to be repaved after PUB tests Singapore Ong Beng Seng set to plead guilty on Aug 4 in case linked to ex-transport minister Iswaran Asia Gunman kills 5 security guards near Bangkok's Chatuchak market before taking own life Singapore COE quota up 2.6% to 18,701 for August to October Business Resilient economy versus uncertain outlook splits views on Singapore's monetary policy Singapore HPB looking for vaping, smoking counselling services for up to 175 secondary school students Singapore Jail for former pre-school teacher who tripped toddler repeatedly, causing child to bleed from nose Gan's performance in the 1,500m heats was all the more impressive as her timing was the quickest among the Asian swimmers, which included Asian Games champion Li Bingjie (16:02.31) and Japan's open water swimming champion Ichika Kajimoto (16:09.65), who won the 3km knockout sprint on July 19. In placing fourth overall in the heats, she was also ahead of Russia's Olympic silver medallist Anastasiia Kirpichnikova (16:06.97), and bronze medallist Isabel Gose (16:08.41) of Germany, who was in Gan's heat and did not make the final. Gan said: 'Knowing that there were so many big names in my heat inspired me – if they can do what they have done, then what's holding me back from improving my times as well and get closer to them than I used to be, which was like a full minute behind? 'But during the race, I didn't think about who I was racing against. If I see someone, I was just going to give chase and hope for the best. I don't think the heats really mean that much more than making the final, because many of them have faster times and more experience doing heats and finals, while this is my first and I'm still learning as I'm going.' National swimming head coach and performance director Gary Tan credited Gan's family, her Singapore Swimming Club coach Eugene Chia and Singapore Aquatics technical consultant Sonya Porter for the swimmer's upward trajectory. She has shaved more than half a minute off her 1,500m time since 2022. He said: 'Her latest times are quite timely ahead of the 2026 Asian Games, which will be a good marker to see what is to come from her future.' Chia shared that they have always had an Asian Games medal, the Olympics and WCH finals in their sights. He said: 'She has been swimming well, and went a bit faster than expected today, but this is not beyond her with hard work and the home crowd energy. 'In terms of potential, based on today's swim, she has thrown her name into the hat of Asian Games medal contenders. She is a very good racer, tactically she carries out our race plan on point, and she has shown she can be up there with the finest.' Other Singaporeans who featured in the heats in July 28 were Letitia Sim (23rd in the 100m breaststroke), Quah Zheng Wen (29th in the 100m backstroke), Levenia Sim (34th in the 100m backstroke) and Jonathan Tan (40th in the 200m freestyle).
