Latest news with #SiscaHumphrey
Daily Express
a day ago
- Business
- Daily Express
Vulnerable to pollution, industrial waste issues
Published on: Saturday, July 19, 2025 Published on: Sat, Jul 19, 2025 By: Sisca Humphrey Text Size: Clive said liability limits commonly purchased by companies are often insufficient to cover potential environmental claims. Kota Kinabalu: Many Malaysian businesses may lack adequate insurance protection against pollution and industrial waste incidents, according to a briefing by SP&G Gallagher Insurance Brokers Sdn Bhd (SP&G) Environmental Specialist Clive Goddard. Clive said liability limits commonly purchased by companies are often insufficient to cover potential environmental claims. Advertisement 'It is not unusual to see liability cover capped at RM10 million or less. In some cases, this may not reflect the scale of possible losses,' he said at the Marim Conference 2025 in here on Tuesday. He stated the 1982 Bukit Merah rare earth processing case as an example of long-term environmental damage. 'The incident involved radiation exposure in a Perak town, with cleanup efforts still ongoing decades later,' Clive said. Clive also noted that the costs of decontamination have exceeded RM300 million and most of the burden did not fall under insurance coverage. More recently, the Puchong pipeline fire raised concerns about the state of underground infrastructure and the potential consequences of ground subsidence. He cited that similar issues have occurred with a gas pipeline between Sabah and Sarawak, which experienced several structural failures due to shifting soil. 'Some of these cases have not been widely reported, but they are known within the industry,' he added. Another emerging issue mentioned during the session was the presence of PFAS chemicals in consumer and industrial products. Known for their resistance to breakdown, these substances are increasingly found in water sources and human blood samples globally. Clive said they present regulatory and liability challenges that are still being assessed. He also emphasised on carbon capture and storage (CCS), referencing Petronas' Kasawari project in Sarawak, which aims to store carbon dioxide extracted from offshore gas operations. The initiative is one of several being explored to manage emissions from oil and gas production. Despite these developments, he said there is still limited uptake of comprehensive environmental liability insurance among local firms. 'Policy wordings are often narrow. They may exclude gradual pollution, statutory clean-up costs and other exposures that companies assume are covered,' he said. SP&G Gallagher, part of the global Gallagher insurance group, is encouraging businesses to review their coverage in light of current industrial and legislative changes. This includes recent amendments to the Environmental Quality Act and proposals under public consultation that may place more responsibility on site owners. 'Companies need to be clear on what their policies do and do not cover. This is especially relevant as industrial activity increases under national development plans,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
4 days ago
- Business
- Daily Express
What it takes to survive ‘death valley' - at the recent CEO Masterclass
Published on: Wednesday, July 16, 2025 Published on: Wed, Jul 16, 2025 By: Sisca Humphrey Text Size: Moderator Ray Chou (left) with panelists during the talk session. Kota Kinabalu: Three seasoned entrepreneurs endured financial loss, emotional turmoil and massive setbacks – traits they say were what ultimately helped them prevail during the CEO Masterclass 2025, held at the Sabah International Convention Centre (SICC) on July 9-10. They spoke about what it takes to survive the toughest phase of entrepreneurship, referred to as the notorious 'Death Valley' where most start-ups die out. The session was titled 'Overcoming the Death Valley'. Advertisement For CEO of Amazing Borneo Tours and the force behind Kenji Yeo, the pivotal moment came after the 2015 Mount Kinabalu earthquake which claimed four of his team members. 'It taught me that if money can solve the problem, it's not a hard problem. That wasn't about money. It was about people,' he said. Kenji said the tragedy forced his team to diversify. 'We couldn't depend solely on tourism or Mount Kinabalu climbs anymore. 'So we diversified, we built brands like Borenos Fried Chicken and invested in digital platforms.' he said, functions like the Airport of Sabah tourism describing it as a platform enabling small tourism businesses to connect directly with travellers. 'We've invested millions in it. If we want Sabah to compete with places like Bali or Phuket, we need good infrastructure and collaboration,' he said. Founder of skincare label Nihon Skin and co-founder of wellness brand Ventamin, Geraldyn Low, described the emotional toll of managing a fast-growing company while raising a neurodivergent child. 'I built Nihon Skin to have more time with my son, but ended up chained to the business,' she said. After exiting, she used the experience to structure her new venture for sustainability. 'With Ventamin, we made sure the company can function without us. 'We focused only on what we're good at and outsourced everything else, from HR to fulfilment. 'We automated, we trained the team and now we can take breaks without the business falling apart,' she said. Geraldyn credited her success to a strong marketing foundation. 'People forget that marketing is the only thing that connects your brand to customers. 'We focus not just on conversion but on lead generation and education,' she said, adding that it created a bigger pie instead of fighting over the same slice. Managing Partner of Intelligent Capital Investor, Asgari Stephens, said while most people assume cash is king, burnout is what truly kills start-ups. 'We look for founders who won't give up when things get dark. We even interview ex-bosses, check how they performed under pressure. 'For me, 90pc of the investment decision is the person,' he said, and that scalability remains non-negotiable. 'Nice lifestyle businesses are fine, but if it's not scalable, we don't invest. I've met founders making RM2 million from one restaurant, but you can't scale that model,' Asgari said. Asgari also suggested that Sabah consider a GLC reform similar to Sarawak's, which involved an independent review by the World Bank to evaluate which state-owned enterprises to retain, reshape or close. The panellists also spoke about managing cash flow in the early days. 'There was no Plan B. My Instagram handle is literally 'No Plan B'. If you have Plan B, you won't go all in,' Kenji said. Kenji emphasised that building a core team is crucial and that he personally values women leadership. 'Women are powerful survivors. I've seen men give up. But women stay and fight,' he said. Geraldyn agreed, saying they followed a traditional start-up method where founders deferred salaries to conserve cash. 'You do what it takes. We only paid ourselves when we could afford to,' she said. When asked about delegating decisions, Geraldyn said, 'We built SOPs from day one. When the structure is strong, the team doesn't have to wait for me to decide everything.' The session echoed the broader theme of the conference 'Scaling Beyond Limits' aimed at helping entrepreneurs, government agencies and GLCs across Southeast Asia navigate challenges and build resilient, scalable ventures. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
5 days ago
- Business
- Daily Express
Sabah's coasts at risk from climate change
Published on: Tuesday, July 15, 2025 Published on: Tue, Jul 15, 2025 By: Sisca Humphrey Text Size: Petrus (fourth, right) and Faisha (fourth, left) with key delegates at the conference. KOTA KINABALU: Datuk Petrus Gimbad has warned that Sabah's coastal areas face growing risks from rising sea levels and extreme weather due to climate change. Advertisement Speaking at the Marim International Conference 2025, here on Tuesday, the Life Water Berhad chairman said global warming is likely to exceed the 1.5°C threshold without urgent reductions in fossil fuel use. He called for organisations to adopt full life cycle assessments and align operations with ESG goals to support long-term sustainability. Marim Chairman Muhammad Faisha Shahriman urged risk professionals to take on more strategic roles in responding to economic, policy and technological shifts. The two-day conference, held for the first time in Sabah, has drawn over 300 participants from multiple sectors and is supported by sponsors including Howden Malaysia. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
10-07-2025
- Business
- Daily Express
Sabah CEOs share survival lessons at 2025 masterclass
Published on: Thursday, July 10, 2025 Published on: Thu, Jul 10, 2025 By: Sisca Humphrey Text Size: Moderator Ray Chou (left) with the panellists during the talk session. KOTA KINABALU: Entrepreneurs shared insights on navigating the "Death Valley" of business at the CEO Masterclass 2025 held at SICC. Amazing Borneo Tours CEO Kenji Yeo recalled the 2015 Mount Kinabalu quake as a turning point that drove him to diversify and build emphasising people over profit. Nihon Skin founder Geraldyn Low said burnout from her first business taught her to prioritise sustainability, automation, and team-building in her new venture, Ventamin. Investor Asgari Stephens of Intelligent Capital noted that resilience matters more than funding, with most investment decisions driven by the founder's grit and market potential. Panellists agreed that collaboration and shared platforms like are key to scaling, likening its role to Singapore's Changi Airport. Themed 'Scaling Beyond Limits,' the event gathered regional entrepreneurs, GLCs and policymakers to discuss sustainable growth strategies. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
10-07-2025
- Business
- Daily Express
Bill a response to actual needs
Published on: Thursday, July 10, 2025 Published on: Thu, Jul 10, 2025 By: Sisca Humphrey Text Size: Amisah acknowledged the RM109 million allocation to the Sabah State Water Department, noting that unresolved water issues in districts like Ranau, Pitas and Tongod require more than repeated promises. Kota Kinabalu: The 2025 Supplementary Supply Bill is not about political convenience or overspending but a response to actual needs, said Nominated Assemblywoman Datuk Amisah Yassin. Voicing full support for the RM1.18 billion additional allocation, Amisah said development needs are not fixed and the State Government has a responsibility to respond to changes that were not anticipated in the original budget passed last year. 'This is not about discretionary spending. It's about addressing new and pressing needs that surfaced since the original budget was tabled,' she said during the State Legislative Assembly debate. She said rising costs in construction materials, pressure on basic infrastructure and demands from remote areas justify the additional expenditure, particularly if it helps avoid delays in critical projects. Amisah acknowledged the RM109 million allocation to the Sabah State Water Department, noting that unresolved water issues in districts like Ranau, Pitas and Tongod require more than repeated promises. 'People in these areas are no longer requesting, they're demanding solutions. Delays are no longer acceptable,' she said. She also backed the RM40 million allocation for the Chief Minister's Department, which includes disaster response, risk management and project monitoring functions. Amisah pointed to several other allocations she said were necessary and targeted, including RM11 million for youth and sports development, RM16 million for Islamic religious affairs, RM4.9 million for community welfare programmes, and support for the agriculture and fisheries sectors. 'These are not symbolic budgets. They fund sectors that serve real communities including youth, single mothers, farmers, the elderly and disabled,' she said. One of the key points she raised was the broader regional distribution of funds in the supplementary Bill, with direct allocations going to districts often left out of major development, including Tongod, Pitas, Nabawan, Telupid and Beluran. 'This shows the government is no longer focusing only on urban centres. These areas are finally getting attention,' she said. Amisah also urged opposition members not to politicise the Bill. 'This isn't about allowances or overseas travel. This is about basic needs including water, roads, education and places of worship. 'Rejecting it for political reasons won't hurt the government. It hurts the people,' she said. She further recommended that the implementation of the funded projects be tightly monitored, with regular reporting, use of data and input from local communities. 'It's not just about approving budgets. It's about making sure the outcomes reach the ground,' she said. She reaffirmed her support for the Bill, describing it as a necessary step to ensure continuity in essential services and development projects already in progress. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
