Latest news with #Tong
Focus Malaysia
3 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
The Sun
3 hours ago
- Business
- The Sun
KAB announces shareholding change, reaffirms strategic focus
KUALA LUMPUR: Kinergy Advancement Bhd (KAB), a leading Malaysian provider of sustainable energy and engineering solutions, has announced the cessation of Kington Tong Kum Loong as a substantial shareholder following his disposal of 25,037,543 ordinary shares via a direct business transaction. According to a filing with Bursa Malaysia, the change was officially notified on July 30, 2025, marking the end of Tong's tenure as a prominent investor in the company. Tong had never held any executive or board position at KAB, with his role strictly limited to that of a passive investor, without influence over management decisions or corporate strategy. The company clarified that the disposal by a substantial shareholder has no impact on its operations, strategic direction, or governance structure. KAB remains firmly under the leadership of its executive team, led by executive deputy chairman and group managing director Datuk Lai Keng Onn, who is also the largest individual shareholder and continues to drive the company's vision and growth in the sustainable energy sector. Recent share movements have also introduced other significant investors, further diversifying KAB's shareholder base and reinforcing market confidence. The company emphasised that such changes reflect the dynamic nature of public markets, where shifts in shareholding are part of regular market activity. For stakeholders, the announcement reaffirms that KAB's mission, operational integrity, and commitment to delivering excellence in sustainable energy and engineering solutions remain unchanged. KAB has established a strong regional presence, with 27 sustainable energy projects across Southeast Asia and a consistent record of earnings growth in recent quarters. Its core offerings include energy-efficient systems, renewable energy generation—spanning solar, biogas, and hydroelectric—cogeneration solutions, and robust engineering services for both commercial and residential developments. The company's transformation, highlighted by its 2023 rebranding and clear carbon reduction targets, has positioned KAB as an industry leader, earning repeated recognition for its environmental, social, and governance (ESG) performance.
Singapore Law Watch
5 days ago
- Singapore Law Watch
New efforts introduced to support ex-offenders' rehabilitation, lower recidivism rate
New efforts introduced to support ex-offenders' rehabilitation, lower recidivism rate Source: Straits Times Article Date: 25 Jul 2025 Author: Syarafana Shafeeq The new framework for the Community Action for the Rehabilitation of Ex-Offenders (Care) Network will guide the sector towards reducing recidivism among ex-offenders. To better support ex-offenders to ease back into society, the workers who help them will be moved across organisations to share expertise, said Law Minister Edwin Tong on July 24. The aftercare support sector will widen its network of partners, too. These steps, along with assessing needs and reducing programme overlap, are part of new efforts to improve care for ex-offenders in the next five years. The new framework for the Community Action for the Rehabilitation of Ex-Offenders (Care) Network will guide the sector towards reducing recidivism among ex-offenders. Singapore's two-year recidivism rate has fallen from 40.1 per cent in 2000 to 21.3 per cent for the 2022 cohort, which is among the lowest globally. Recidivism refers to the tendency of an ex-inmate to reoffend. The five-year rate for the 2019 cohort was 36.6 per cent, marking the third straight year it has stayed below 40 per cent. This is partly due to the collective work of the Care Network, which comprises agencies that support this work, said Mr Tong. He was speaking at the Care Network Summit and Correctional Practice and Research Symposium on July 24 at Parkroyal Collection Marina Bay. The network was set up in 2000 to encourage partners who provide aftercare and other services for inmates, ex-offenders and their families to work together. Previously, agencies worked in isolation and were largely uncoordinated, said Mr Tong, who is also Second Minister for Home Affairs. Today, the network has 10 core members and more than 170 community partners. These include Yellow Ribbon Singapore, Singapore After-Care Association and Life Community Services Society. Mr Tong said that Singapore is often seen as a country with tough laws and a strict system, but it is equally invested and puts a lot of weight on aftercare, integration and rehabilitation of ex-offenders. The Care Network, which marks its 25th anniversary in 2025, wants to put in place more cross-sector mentorship programmes, allowing officers from the Singapore Prison Service and staff from community partners to be seconded to different organisations to share knowledge and best practices. A steering committee will also look into the best ways to optimise resources and assess whether some initiatives should make changes to better meet beneficiaries' needs. New partnerships will also be fostered to expand support and opportunities. For instance, in 2024, the Industrial and Services Co-operative Society Limited teamed up with the Institute of Singapore Chartered Accountants to offer financial literacy workshops for ex-offenders and their families. In his speech, Mr Tong said that the network has strengthened volunteer training, with 40 courses now available in areas like family work, managing addiction, and restorative practice. The network now has more than 4,000 volunteers. Throughcare support for inmates, which refers to the support provided to individuals both during and after their time in custody, has also improved over the years. In 2019, SPS introduced the Throughcare Volunteer Framework, which allows volunteers who have been supporting inmates to continue to do so after they have been released. The initiative now has more than 1,900 volunteers supporting ex-offenders. SPS launched the Desistor Network in 2023 to give ex-offenders a platform to give back and help others turn away from a life of crime and drugs. Currently, more than 100 desistors volunteer their time to support and share their experiences with inmates and other ex-offenders. One of them is 38-year-old Nur Azlina Zulkifli, who began using drugs at 12 and continued doing so for over a decade. In 2012, at the age of 25, she was caught by the authorities and sent to the Drug Rehabilitation Centre. She relapsed in 2019 and was detained again. 'I think the reason I relapsed was because I did not have a support system when I was first released. My parents are conservative and strict, and I did not talk to anyone else about it because I felt ashamed,' she said. After her second incarceration, she realised she needed more support to help her work through the emotional struggles of kicking an addiction. She joined a community programme by the Singapore Anti-Narcotics Association (Sana), and continued to volunteer there after completing it, to help other ex-offenders. Ms Azlina, who works as a senior project manager now, started her own peer support group for ex-offenders, named Ultimate Friends SG, in 2024. She visits halfway houses and liaises with other organisations to look for ex-offenders who may be interested in joining the group. There were 60 people in the group as at July, up from 10 when it was started. 'I think having support like this can really affect whether someone chooses to reoffend,' she said. Source: The Straits Times © SPH Media Limited. Permission required for reproduction. Print
Straits Times
6 days ago
- Straits Times
New efforts introduced to support ex-offenders' rehabilitation, lower recidivism rate
Minister for Law and Second Minister for Home Affairs Edwin Tong speaking at the CARE Network Summit and Correctional Practice and Research Symposium on July 24. SINGAPORE - To better support ex-offenders in easing back into society, staff will be moved across organisations to share expertise and the aftercare support sector will widen its network of partners, said Minister of Law Edwin Tong on July 24. These steps, along with assessing needs and reducing programme overlap, are part of new efforts to improve care for ex-offenders in the next five years. The new framework for the Community Action for the Rehabilitation of Ex-Offenders (Care) Network - made up of agencies that support this work - will guide sector efforts and aim to further improve recidivism among ex-offenders. Singapore's two-year recidivism rate has fallen from 40.1 per cent in 2000 to 21.3 per cent for the 2022 cohort, among the lowest globally. The five-year rate for the 2019 cohort was 36.6 per cent, marking the third straight year it has stayed below 40 per cent. This is partly due to the collective work of the Care Network, said Mr Tong, at the Care Network Summit and Correctional Practice and Research Symposium on July 24 at Parkroyal Collection Marina Bay. Recidivism refers to the tendency of an inmate to reoffend. The network was set up in 2000 to encourage partners who provide aftercare and other services for inmates, ex-offenders and their families to work together. Top stories Swipe. Select. Stay informed. 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These include Yellow Ribbon Singapore, Singapore After-Care Association and Life Community Services Society. Mr Tong said that Singapore is often seen as a country with tough laws and a strict system, but it is equally invested and puts a lot of weight on aftercare, integration and rehabilitation of ex-offenders. The Care Network, which marks its 25th anniversary in 2025, wants to put in place more cross-sector mentorship programmes, allowing officers from the Singapore Prison Service and staff from community partners to be seconded to different organisations to share knowledge and best practices. A steering committee will also look into the best way to optimise resources and assess whether some initiatives should pivot to better meet beneficiaries' needs. New partnerships will also be fostered to expand support and opportunities. For instance, in 2024, the Industrial and Services Co-operative Society Limited teamed up with the Institute of Singapore Chartered Accountants to offer financial literacy workshops for ex-offenders and their families. In his speech, Mr Tong said that the network has strengthened volunteer training , with 40 courses now available in areas like family work, managing addiction, and restorative practice. The network now ha s more than 4,000 volunteers. Throughcare support for inmates, which refers to the support provided to individuals both during and after their time in custody, has also improved over the years. In 2019, SPS introduced the Throughcare Volunteer Framework, to allow volunteers who have been supporting inmates while they are in prison to continue to do so after they have been released. The initiative now has more than 1,900 volunteers supporting ex-offenders. SPS also launched the Desistor Network in 2023 to give ex-offenders a platform to give back and help others turn away from a life of crime and drugs. Currently more than 100 desistors volunteer their time to support and share their experiences with inmates and other ex-offenders. One of them is 38-year-old Nur Azlina Zulkifli, who began using drugs at 12 and continued for over a decade. In 2012, at the age of 25, she was caught by the authorities and sent to the Drug Rehabilitation Centre. She relapsed in 2019 and was detained again. 'I think the reason I relapsed was because I did not have a support system when I was first released. My parents are conservative and strict, and I did not talk to anyone else about it because I felt ashamed,' she said. After her second incarceration, she realised she needed more support to help her work through the emotional struggles of quitting an addiction. She joined a community programme by the Singapore Anti-Narcotics Association (Sana), and continued to volunteer there after finishing it, to help other ex-offenders. Ms Azlina, who works as a senior project manager now, started her own peer support group for ex-offenders named Ultimate Friends SG. She visits halfway houses and liaises with other organisations to look for ex-offenders that may be interested in joining the group. The initiative has grown from 10 people when it first started to 60 as of July. 'I think having support like this can really affect whether someone chooses to reoffend,' she said.
The Star
15-07-2025
- Business
- The Star
Elegant Fine Caviar is Malaysian-owned caviar from a sturgeon farm in China
Imagine this: you have a dream and you want to do something about it. But it just so happens that dream will take up to 15 years to materialise – something that cannot be altered or changed because nature has to take its course. Would you still press ahead knowing the returns are so far down the horizon? For Malaysian entrepreneurs Dr Rainey Yan and Aaron Tong, this was a no-brainer. The couple realised there was a gap in the Malaysian market for caviar and decided to do something about it. With the help of two investors, they invested RM50mil in a sturgeon farm in China, situated along the Amur River. 'Caviar has always symbolised status, but we wanted to reimagine it: not as a product for the privileged, but as a lifestyle for those who value moments. Moments of indulgence, celebration and connection. Tong (left) and Yan are the couple behind Elegant Fine Caviar, a Malaysian caviar brand that is cultivated on a farm in China. — ART CHEN/The Star 'To do that, we needed full control – from roe to refinement. Owning part of a boutique sturgeon farm allowed us to curate quality at the source and build a brand rooted in patience, craft, and long-term vision. 'This wasn't about fast business. It was about planting the seeds of something timeless – and giving Asia a voice in the global caviar conversation,' says Yan. Last December, seven years after investing in the sturgeon farm, Yan and Tong were finally able to harvest their first batch of Malaysian-owned caviar, now sold and marketed under the Elegant Fine Caviar range. History of caviar Sturgeon are one of the oldest fish in the world, dating back over 300 million years to prehistoric times when dinosaurs roamed the Earth. Female sturgeon take anywhere from seven to 15 years to produce caviar. — Elegant Fine True caviar is attained from the roe of sturgeon fish. While there are many roe from other fish – like lumpfish – labelled as caviar, the truth is these are all merely fish roe. The term 'caviar' in its pure sense refers only to the unfertilised salt-cured roe of sturgeon in the Acipenseridae family. The word 'caviar' traces its roots to the Turkish word 'khav-jar' meaning 'cake of strength' while the first mention of caviar dates back to 350 BC when Aristotle mentioned that the Greeks ate sturgeon roe at banquets. In the 1600s, the Russians discovered caviar and soon it was enjoyed among nobility and the elite and gained a reputation as a luxury food. The most popular – and incidentally the most expensive – caviar is the Beluga, Ossetra and Sevruga caviar. In the 20th century, massive overfishing decimated the sturgeon population – the American sturgeon, for instance, was fished to the point of extinction. Beluga sturgeon stocks, meanwhile, declined by about 90% in the 20th century alone. While there were once over 30 kinds of sturgeon, it is now believed that only about nine have survived. Before partnering with the farm in China, Tong (left) and Yan (right) visited many boutique farms. They now travel to their farm multiple times a year to check on their precious fish. — Elegant Fine In 2006, the Convention on International Trade in Endangered Species (CITES) implemented worldwide restrictions on the trade of wild caviar. Now that there are quotas for wild-caught sturgeon and its roe, the domino effect has been the proliferation of aquaculture and farmed caviar, like the one Yan and Tong are so valiantly championing. Birth of Malaysian-owned caviar Yan is a culinary arts graduate, while her fiancé Tong is a businessman. Both are in hospitality and branding but were propelled to dive into the sturgeon business after discovering that there was a desire in the Malaysian market for luxury foods. Initially the two wanted to focus on sea urchin, but when they realised they would have more control, agency and ownership if they started a caviar farm, they decided to go down that route instead. 'We did a lot of research and visited a few boutique farms in China and the one that we decided to work with is the one where we believe the taste and the texture of the caviar is very suitable for the Malaysian palate,' explains Yan. When they invested in the farm in 2018, all the sturgeon were baby fish, which meant a long-haul waiting game. Because of the effects of climate change, water temperatures at the farm have to be kept below 18°C. — Elegant Fine Caviar is attained from the female sturgeon, which typically reaches sexual maturity and starts producing caviar only after seven to 15 years. Even after first producing eggs, some female sturgeon species only bear roe every three to four years. This means most caviar producers have zero yield for up to a decade and sometimes even longer! 'The main challenge of this business is the waiting time because it's all about waiting, waiting and waiting!' says Yan. The other challenge? Figuring out how to implement systems that work in tandem with the growing concerns of climate change. Many sturgeon farms around the world have discovered that as temperatures have gotten hotter over the past few years, sturgeon have simply started dropping dead. With higher heat levels, the quality of caviar has also been compromised, with some producers reporting mushier caviar that is simply not suitable for sale. To combat this, Yan and Tong have taken extra efforts to ensure the water temperature at their farm is consistent and never gets too hot. The sturgeon reared at the farm in China are grown in temperature-controlled tanks and are monitored closely at every growth stage. — Elegant Fine 'The water temperature cannot be higher than 18°C otherwise the fish will be affected. So we have a cooling system and workers at the farm 24 hours a day, working in shifts to check the water temperatures every hour. Summer time is when the weather gets hotter, so we don't really harvest the eggs much at this time,' says Yan. From fish to caviar The process of attaining caviar is a multi-year, multi-stage process that is no walk in the park. To begin with, the brood stock first has to be selected for breeding. Then the male and female sturgeon are paired together to produce fertilised eggs. When the eggs hatch, the larvae are sent to controlled-environment tanks and then divided into male and female fish. Many farms will have specific methods to try and ensure more female sturgeon are reared. When the female sturgeon starts producing caviar, the caviar is monitored through an ultrasound to determine when it is most viable for harvest. Then the eggs are extracted, often through a fine needle. To get Elegant Fine Caviar off the ground, Yan did extensive research, poring over YouTube videos and reading material to determine the means and methods of extracting the best quality caviar. Yan and Tong's farm now produces three different kinds of caviar for Malaysian consumers to enjoy. — ABIRAMI DURAI/The Star Which is why the fish at her farm go through a process of fasting before having their roe removed. 'Before we get the roe out of the sturgeon, the fish goes through a 40-day fast to clean out its system. 'So this way the caviar won't have a muddy, fishy taste or retain the flavour of its feed. What you get is cleaner caviar,' says Yan. This process isn't typically done at most caviar farms but it is an additional feature that Yan specifically requested. In actual fact, the fasting actually reduces the yield that is harvested from the sturgeon because the fish loses approximately 2% of its ratio when it undergoes the fasting process. For reference, caviar extracted from a single sturgeon is typically about 10% of its weight. So a sturgeon weighing 20kg will bear caviar that weighs in at 2kg, while Yan's caviar will have lost 2% of that ratio. Once the caviar is harvested (the rest of the fish is typically resold to the farm, which then sells it to wholesale markets), there are typically 15 to 16 steps that need to be completed before it can be consumed. These include rinsing the caviar, sieving out the membrane, selecting the best roe and discarding the ones that don't make the cut and brining the roe in a salt solution. The couple's restaurant Elegant Fine Food serves a range of curated dishes designed to complement their flagship caviar. — ART CHEN/The Star The brining solution is actually one of the most important steps in producing great-tasting caviar. Too much salt and all you can taste is well, salt. Too little and the impact is lost. Which is why Yan and Tong experimented until they discovered the perfect brining ratio. 'We experimented with a 3% to 4% brining solution and settled on a 3.3% salting percentage, which we believe is the perfect amount. We also found a salt from Germany that we feel really complements the caviar,' says Yan. The future Now that the wait is over and Yan and Tong's sturgeon are finally bearing roe (it only took seven years!), their proudly Malaysian brand produces three different kinds of caviar. Prestia is the caviar from their Kaluga hybrid sturgeon and is a firm beauty with a briny overcoat and distinctive, strong caviar pearls. It's a lovely, lighter introduction to caviar that is perfect for neophytes or newbies to the caviar game. Then there is Luxoria, which is the caviar from their Russian Ossetra sturgeon. This caviar has a rusticity to it that lends itself to a wondrously nutty, full-bodied gastronomic experience. The Imperial Astria is the caviar that has been extracted from the Amur sturgeon. This particular varietal is larger than its brethren, so each roe is plumper and more voluptuous. Flavour-wise, this is the creamiest and richest of all the three offerings in the brand's range. In the future, the couple plans to introduce another range of caviar as well as expand their reach throughout Malaysia and the region. Prices for Elegant Fine's caviar range from RM288 to RM688 for 30g tins. At the moment, Elegant Fine Caviar's yield isn't particularly high – Yan and Tong typically only get about 30kg to 50kg of caviar every four months. Yet, despite the challenges, the duo already has plans to introduce Bari, a Siberian sturgeon, by September this year to widen the range of their offerings. Moving forward, Yan and Tong's ultimate goal is to create more knowledge and appreciation for caviar in Malaysia and widen their presence in the country. 'The sturgeon may be raised in China – but the vision, philosophy, and voice of the brand are entirely Malaysian. In 2027, Yan and Tong hope to take their homegrown brand across the region once they have enough yield to sustain more growth. 'Our main focus will be the Malaysian market, but we also want to distribute across countries in Asia, like Thailand and Singapore once our caviar stock is stable,' enthuses Yan.
