Latest news with #MohdEffendi
BusinessToday
7 days ago
- Business
- BusinessToday
Lotte Chemical Shrinks Losses To RM173 Million As Margins Improve
Lotte Chemical Titan narrowed its second-quarter loss to RM173 million, supported by improved margins despite ongoing challenges from high feedstock costs and weak petrochemical prices. In other developments, Advancecon Holdings' unit has filed a RM10.17 million adjudication claim against CCC-ECRL over unpaid works, while Infomina's subsidiary initiated a RM133 million lawsuit against a Philippine bank for outstanding sums. Meanwhile, Citaglobal is set to acquire a 12.8% stake worth RM40 million in a Perlis Maritime Corridor developer, signalling expansion in infrastructure ventures. On the corporate front, XOX Technology appointed Mohd Effendi as its new CEO to drive strategic growth, while Hong Seng Consolidated faces a trademark infringement lawsuit that could impact its branding operations. Read full stories here on MorningBytes: LOTTE Chemical Reports Narrowed Q2 Loss Of RM173 Million Infomina Subsidiary Files RM133 Million Lawsuit Against Philippine Bank Citaglobal To Acquire 12.8% Stake In Perlis Maritime Corridor Developer For RM40 Million XOX Technology Appoints Mohd Effendi As New CEO Hong Seng Consolidated Slapped With Trademark Infringement Lawsuit
New Straits Times
05-08-2025
- Business
- New Straits Times
XOX Technology appoints Mohd Effendi as CEO
KUALA LUMPUR: XOX Technology Bhd has appointed Mohd Effendi Mat Aris as its chief executive officer (CEO), taking over from Azril Aliuddin, who resigned on May 15, 2024. In a filing with Bursa Malaysia, the technology company said Mohd Effendi is a seasoned professional with a distinguished career spanning over two decades across the public, private and non-governmental sectors. "His most recent position was the deputy head of the Intelligence Section, Integrated Operations Division at the National Anti-Financial Crime Centre (NFCC) under the Prime Minister's Department. "He plays a pivotal role in coordinating intelligence operations, inter-agency enforcement efforts and strategic deployment within the national Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework," it said. XOX Technology also said that Mohd Effendi's professional background includes leadership roles such as chief financial officer of My Teakwood Holding Sdn Bhd, head of the Financial Forensic Unit at the Malay Chamber of Commerce Malaysia, agency director at Etiqa Takaful Bhd and regional finance analyst with Jardines Group. "His career reflects a solid foundation in financial governance, regulatory compliance, and cross-border cooperation," it said.
New Straits Times
24-07-2025
- Business
- New Straits Times
Palm oil and rubber model can drive Malaysia's global food ambitions
KUALA LUMPUR: Malaysia can become a global food producer by emulating its success in the palm oil and rubber industries, according to the Malaysian Institute of Economic Research (MIER). Its chairman, Tan Sri Mohd Effendi Norwawi, said the country should start viewing agriculture and food security as a strategic growth sector rather than a recurring policy issue. "Agriculture and food security have always been on the agenda, even from the 1970s, but it is time for the government to examine it more closely, reprioritise the sector, and elevate it to a top national priority," he said after the MIER Brown Bag Talk Series -- "A Journey Through the Looking Glass: Towards Future-Proofing Malaysia's Food Security" -- here today. Mohd Effendi, a former minister of agriculture and food security, said Malaysia's food import bill, supply vulnerabilities, and global disruptions such as war, pandemics, and climate change highlight the urgent need for a new approach. "We have achieved success in palm oil and rubber, and we can apply this model to food production, particularly by utilising modern technology and the extensive knowledge we possess," he said, citing institutions like the Malaysian Agricultural Research and Development Institute (MARDI) and the country's network of agriculture professionals. Mohd Effendi highlighted that beyond agriculture, other emerging areas such as artificial intelligence (AI) and sustainability should be central to the 13th Malaysia Plan (13MP). "AI is an area we must move forward with. Malaysia is still at the starting line, so we have an opportunity to jump-start our progress. "We can move quickly into areas like AI and sustainability, where we already have national experts and can bring in international ones to help shape strong policies and strategies," he said. The talk featured presentations by MIER senior fellows Dr Larry Chee-Yoong Wong and Khairuddin Md Tahir, who advocated for a systemic shift in how Malaysia addresses food security. The event is part of MIER's ongoing Brown Bag Talk Series aimed at fostering policy dialogue on key national issues. -- BERNAMA
