corporate Archives - Page 6 of 11

IKEA Tebrau and Toppen Shopping Centre Collaborate with JDT to Build Community Engagement in Johor Through Football

9Oct

By Webmaster IKON MalaysiaNo Comments

Business

IKEA Tebrau and Toppen Shopping Centre Collaborate with JDT to Build Community Engagement in Johor Through Football

IKEA Tebrau and Toppen Shopping Centre Collaborate with JDT to Build Community Engagement in Johor Through Football IKEA Tebrau and Toppen Shopping Centre, have announced a partnership with Johor Darul Ta'zim FC (JDT), also known as the Southern Tigers. This exciting collaboration aims to fuel the enthusiasm for football and strengthen community ties within Johor's vibrant football scene. As a key component of the partnership, Toppen will be home to a dedicated fan clubhouse at the centre's rooftop, The Topp. Scheduled to open in early 2024, the clubhouse will feature a merchandising store and a curated space for JDT fans to gather outside the stadium. Toppen is in the midst of securing live screenings of all JDT matches, which will make it the sole destination in Johor, beyond t...

Budget 2024: No tax cuts for people or corporations, according to the Tax Institute

8Oct

By Webmaster IKON MalaysiaNo Comments

Business, Finance

Budget 2024: No tax cuts for people or corporations, according to the Tax Institute

The Chartered Tax Institute of Malaysia (CTIM) does not expect tax cuts for individuals or corporates, but more details on the luxury goods tax (LGT) and the mechanism for capital gains tax in the upcoming Budget 2024. President Chow Chee Yen said the tax rate for individuals is expected to be maintained as changes were already made in Budget 2023. “A tax cut is not expected as the government is constantly looking to widen its tax base,” he told Bernama on CTIM’s wish list for Budget 2024 via an email recently. Chow said personal relief for individuals may be enhanced in line with the rise in cost of living, for instance, by combining the Employees Provident Fund (EPF) and insurance relief and increasing its quantum. “There may be a need to streamline some of the personal ...

LTAT’s stake sale to KLK fails, Boustead must return the RM229 million deposit

6Oct

By Webmaster IKON MalaysiaNo Comments

Business

LTAT’s stake sale to KLK fails, Boustead must return the RM229 million deposit

Armed Forces Fund Board (LTAT) and Boustead Holdings Bhd (Boustead) had planned to sell a 33 percent stake in Boustead Plantations Bhd (BPlant) to Kuala Lumpur Kepong Bhd (KLK), but that deal has fallen through. This was stated by BPlant and KLK in separate filings, confirming a report published by The Edge on Tuesday, October 3. The strategic collaboration agreement (SCA) signed by KLK, Boustead, and LTAT states that a condition antecedent "will not be satisfied by the cut-off date of October 6, 2023," according to information provided to KLK. “In the circumstances, the parties mutually agree that the SCA shall be terminated with immediate effect on Oct 4, 2023,” it said. “As a result of the termination, Boustead shall return the deposit (equivalent to the sum of RM229.15...

Malakoff to invest RM2.5bil on solar projects within Albukhary Group

6Oct

By Webmaster IKON MalaysiaNo Comments

Business, Finance

Malakoff to invest RM2.5bil on solar projects within Albukhary Group

Malakoff Corp Bhd is expected to invest around RM2.5 billion to develop 500MW of solar projects within the Albukhary Group over five years. The Syed Mokhtar Albukhary-controlled business group comprises the MMC Group, DRB-Hicom Bhd and Tradewinds Plantation Bhd, among others. Malakoff and MMC Ports, a member of MMC Group, inked a memorandum of understanding (MoU) today to undertake business exploration in green power initiatives with investments worth RM350 million. This includes but is not limited to any solar power programme under the government such as the Corporate Green Power Programme (CGPP), Self-Consumption (SelCo) rooftop solar programme, cold ironing or shore-to-ship power supply, installation of electric vehicle charging stations, and others. Malakoff managing d...

Report: Banks are responsible for a 70% increase in greenwashing in 2023

6Oct

By Webmaster IKON MalaysiaNo Comments

Business, Finance

Report: Banks are responsible for a 70% increase in greenwashing in 2023

According to a survey released on Tuesday, there were 70 percent more cases of greenwashing by banks and financial services providers globally in the last year compared to the year before. The majority of those events were due to European financial institutions, and much of the greenwashing involved assertions regarding fossil fuels. The worldwide banking and financial services business was involved in 148 incidents, up from 86 the year before, according to environmental, social, and governance (ESG) data provider RepRisk. 106 of the 148 instances involved financial institutions in Europe. The European Banking Federation claimed that RepRisk's study contained more unsubstantiated allegations of greenwashing than it had actual proof. An organisation engages in "greenwash...

5Oct

By Webmaster IKON MalaysiaNo Comments

Fashion

Sephora Will Contribute All Proceeds From Rare Beauty Products to the Brand’s Rare Impact Fund

On October 10, Sephora will give 100% of all Rare Beauty product sales at its retail locations across the world to the Rare Impact Fund in support of its nonprofit partners working on young people's mental health. The action is a sign of support for World Mental Health Day, a day set aside internationally for raising awareness of, advocating for, and promoting global mental health. Selena Gomez, the actress and singer who founded Rare Beauty, established the Rare Impact Fund in 2020. Its goal is to lessen the stigma attached to mental health and increase young people's access to mental health services and education worldwide. “I created the Rare Impact Fund with the goal of increasing access to mental health services and education for young people, which is something I wish I...

Meta introduces an EU-only, US$14 monthly ad-free package for Facebook and Instagram

5Oct

By Webmaster IKON MalaysiaNo Comments

Business, Innovation/ Technology

Meta introduces an EU-only, US$14 monthly ad-free package for Facebook and Instagram

According to the Wall Street Journal (WSJ), Meta Platforms is looking into a scheme that might require European Union (EU) users to pay up to US$14 (RM66.14) to use Instagram or Facebook without adverts or consent to individualised ads for the free versions. According to the report, which cited sources involved, Meta would charge around €10 (US$10.46 or RM49.52) each month on a desktop for a Facebook or Instagram account, and roughly €6 for each additional linked account. The report also stated that the price of a single account on mobile devices would increase to around €13 because Meta would factor in commissions imposed by Apple's and Google's app stores. The social network corporation was told earlier this year that it cannot use the so-called "contract" legal basis to se...

AirAsia obtains a US$150 million term loan with parent Capital A’s guarantee

4Oct

By Webmaster IKON MalaysiaNo Comments

Business, Finance

AirAsia obtains a US$150 million term loan with parent Capital A’s guarantee

The aviation division of Capital A Bhd, AirAsia Bhd, has obtained a five-year term loan for up to US$150 million (about RM708.46 million). According to Capital A's bourse statement, the loan will be used to pay for working capital and the upkeep of its aircraft and engines. Shortly before Capital A was scheduled to submit its regularisation plan to the stock exchange on October 7, the term loan was secured. The term loan was given by a financial institution with a corporate guarantee from Capital A, which will continue for the duration of the term loan, according to a bourse filing by Capital A Bhd. “The board of directors of the company, having considered all aspects of the term loan, is [of] the opinion that the term loan is in the ordinary course of business and is in t...