Indonesia’s coal trade announced plans to begin offering coal credit credentials to foreign customers next week to raise money to support efforts to achieve its coal independence goal. Indonesia is an island with the country’s third-largest forest region, but is also one of the nation’s top 10 green home gasContinue Reading
That’s the normal method of privatization: Defund, make certain things don’t work, people get angry, you hand it over to personal funds.
Harold brown
In the late 19th and early 20th ages, public transport – particularly energy busses – formed the backbone of American locations, with over 17, 000 km of subway lines operating in major urban centers. For years, these techniques were considered essential to urban existence.
Public transport system has a lot of benefits, including reducing traffic congestion, improving air quality, and maintaining sustainability, but the idea of using public funds is frequently viewed as communist by the National right.
But, by the mid-20th era, this open system was dismantled. A commonly debated conspiracy theory claims that General Motor purposefully purchased and shut down subway lines in an effort to encourage vehicle dependency, leading to a system of private transportation based on automobile dependency.
Statistics support the extent of this shift: 90 % of US households own at least one car each, with 25 % owning three or more ( as of 2021 ). Travel expenses are the fourth-highest household expenses in US people, totaling$ 1.6 trillion annually. Comparatively, European families spend 5 % less on transportation due to effective public transport systems, many of which still use subways now.
India under Narendra Modi seems to be following an American-style rulebook.
Indian Railways, a 171 -year-old organisation, is a core of India’s communication and flexibility. With 24 million regular customers, 19, 000 carriages, and 7, 112 facilities, IR is Asia’s second-largest and the nation’s fourth-largest rail system. It plays a vital role in India’s economic and social development, fostering regional communication, member freedom and business activity. As India’s largest firm, it supports 1.6 million work, including 400, 000 contract employees.
The Modi authorities established the Bibek Debroy Committee in September 2014 to overhaul Indian Railways. The Committee recommended 40 steps, including pulling out the individual Rail Budget, restructuring management and encouraging exclusive participation. In November 2016, the 92-year-old Rail Budget was merged with the Union Budget. However, this maneuver overlooked the complexities of railroad operations – such as equipment, safety and development – that require focused interest. Indian Railways has struggled in terms of passenger safety over the past ten years as a result of this decision. The stats don’t lie. In an earlier article, I covered this in more detail.
The Railway Board chairman was appointed CEO in September 2020, introducing a new corporate governance structure. With the launch of the Lucknow-New Delhi Tejas Express on October 4, 2019, India’s first privately operated train managed by the Indian Railway Catering and Tourism Corporation, the Modi government began gradual railway privatization. By July 2020, plans were announced for private players to operate 151 trains on 109 routes, covering 5 % of Express and Mail services. While locomotive pilots and guards remain railway employees, other staff will be private. Instead of complete privatization, the Government’s intention was to make Railways go through a piece-by-piece privatization.
Privatization plans faced strong opposition. On July 3, 2020, a nationwide protest saw 1.2 million workers participating, followed by further protests on July 16-17, 2020. In response, the government halted the tender for private train operations.
Meanwhile, rail accidents have sharply increased over the past decade. One of the causes of it is that there is less manpower.  , About 30, 000 to 40, 000 recruitments used to take place in railways annually. The Modi government has been stumbling upon these appointments for ten years, and there are now more than 300,000 unfilled positions. Modi Government policies of delayed appointments, ignored safety measures and rising fares have undermined the railway’s reputation as a safe, affordable, and reliable mode of transport.
Indian Railways, a key public transport system, carried 8.5 billion passengers in FY 2023–2024, generating the rupee equivalent of$ 30.76 billion in revenue, with$ 8.77 billion from passenger services – a 9 % increase from the previous year. Even transferring 10 % of the railroad’s operations to the private sector presents a significant business and revenue opportunity for both government and private players given its monopoly on transportation in India. However, it is politically sensitive as Railways is India’s largest employer. A direct approach for Modi could cause both short- and long-term political backlash. The government has used an indirect approach to promote aviation as a way to break up the railroads ‘ monopoly to navigate these difficulties.  ,
The UDAN ( Ude Desh Ka Aam Nagrik ) scheme, which was launched in June 2016, aims to reduce costs of air travel by encouraging regional connectivity, providing low-cost airlines, and building infrastructure as an alternative to railroads. Recently, the aviation minister announced the scheme’s 10-year extension and plans to build 350–400 airports over the next 20–25 years. However, building such a large number of airports requires significant land and infrastructure.
Indian Railways owns 486, 000 hectares of land, making it the second-largest landowner in India after the defense sector. This land is increasingly being used for non-railway projects, such as the Adani-led Dharavi Redevelopment project, which involved the transfer of railroad land for Matunga and Mahim for slum rehabilitation. The transfer proceeded despite the railroads ‘ opposition to sub-leasing prime land.  , Interestingly, On September 8, 2022, the Modi cabinet reduced the license fee on rail land from 6 % to 1.5 % for certain uses and extended lease periods from 5 to 35 years.
By 2025, the Adani Group intends to privatize 20-25 airports, according to the Airports Authority of India’s ( ADA)-managed airports. Despite lacking experience, the Adani group won bids for six airports in 2019. It is now India’s largest private airport operator. The key question remains: who benefits from this privatization – citizens, the state, or others? ”  ,
How can airlines provide the most affordable modes of transportation for the most underdeveloped nation, which imports 80 % of its energy needs? State expenses are bound to increase as the currency is at all time lows against the dollar.
Promoting air travel conflicts with India’s goal of having a Net Zero Carbon Emission by 2070.  , Modi’s dream of aviation inclusive of 1.4 billion Indians has a very high price. But who will foot the bill?
He added that big corporations frequently gain economic benefits from the increased use of biodiesel, no small farmers, because they are the ones running the business in the field.  ,
Indonesia’s biodiesel processing costs are also substantial. Thus, the government would need to invest money to pay for grants, said Mr Leonard.  ,
According to his statement, “our research indicates that the payment per liter of biofuel exceeds the petroleum subsidy.”  ,
Besides, the president’s biodiesel specific contradicts its aim to increase oil production of 12 billion cubic feet (BCF ) per year by 2030, Mr Leonard said, referring to the president’s commitment to reach net zero emissions.  ,
Gas production will increase as well, making it harder to meet a net low emissions destination.
Airlangga Hartarto, the Coordinating Minister of Economic Affairs, made a statement on the outside of the G20 mountain that is also conflicting to Mr. Prabowo’s speech that renewables should be replaced with coal in 15 years.  ,
By the end of 2040, the government intends to reduce the share of coal-fired power plants by just 33 % while increasing the contribution of renewables by 42 %.
And Indonesia’s untapped potential for renewable energy sources, like as thermal, has not been smooth-sailing.  ,
The nation- which is home to about 130 effective volcanoes- holds about 40 per share of the world’s geothermal power possible.  ,
Indonesia has been using volcanic power for the past 50 years, according to Ms. Beyrra Triasdian, a director of solar energy at Trend Asia.
Thermal energy accounts for about 5 % of the country’s current energy mix.
However, she cautioned against using a lot of fluids when building a geothermal power plant, which occasionally has resulted in the loss of river nearby.  ,
” When drilling is done ( to build the power plant ), the amount of water used is massive”, said Ms Beyrra.  ,
Such is the scenario in Dieng, Central Java, which led to protests from people.  ,
Gas blasts and poisonous gas leaks have also occurred at Dieng’s geothermal power plant. East Nusa Tenggara residents object to the government’s plans to construct a thermal energy plant it.  ,
Gamuda Berhad has established itself as a significant player in the construction and infrastructure sectors in a time when online transformation is changing industries. This local company is not just adapting to alter, it’s influencing it, setting new standards for performance, conservation, and technological inclusion in an industry often seen as standard.
The Digital Revolution and Innovation in Development
At the heart of Gamuda’s success is its unwavering determination to modern technology. The Group’s commitment to driving change in digital transformation is demonstrated by its early adoption of the crucial national climate mitigation initiative, SMART ( Stormwater Management and Road Tunnel ).
” Innovation has been a proper difference for us since 1976, enabling us to stay ahead of the competition”, says Justin Chin Jing Ho, managing director of Gamuda Engineering.
The company’s digital transformation journey marked a significant milestone with the establishment of the Gamuda Excellence Transformation ( GET ) program in 2021. By deploying cutting-edge systems across the company, this effort has elevated Gamuda’s reputation for electronic superiority. At its core is the Gamuda Digital Operating System ( GDOS), a cloud-based platform that supports 4D and 5D Building Information Modelling ( BIM ) systems, Gamuda’s Next-Gen Digital Industrialised Building System ( IBS ), and Generative Artificial Intelligence ( GenAI ).
Regional Expertise Showcase at ICW and BuildXpo 2024
At the International Construction Week ( ICW) and the Malaysia International Building and Construction Industry Exhibition ( BuildXpo ) held recently at the Kuala Lumpur Convention Centre, Gamuda showcased its regional expertise in green construction solutions. The exhibition was organised into five clusters: Building, Machinery, Technology, Construction Materials, and Related Services, and featured key innovations which include Building Information Modelling ( BIM), AI applications, robotics, drone technology, and smart building solutions.
Gamuda’s Next-Gen Digital Industrialized Building System ( Next-Gen Digital IBS ), one of her most notable showcases, is one of its key highlights.
Next-Gen Digital IBS from Gamuda has revolutionized the building industry by enabling building component fabrication in handled factory settings. The Group’s online IBS collection includes data center, high-rise residential and commercial, as well as landed home.
From sky design, BIM integration, mechanical automation and production – this whole suite of online solutions offers flexibility in design, quick construction and superior quality finish.
Projects are now completed 40 % faster than traditional methods, significantly accelerating timelines and enhancing productivity. Up to 55 % of on-site labor requirements have been reduced, indicating a significant shift toward more cost-effective and less labor-intensive practices. Environmental benefits are also notable, with a 40 % reduction in embodied carbon, aligning with Gamuda’s commitment to sustainability.
But Gamuda’s innovation does n’t stop there. The company’s first autonomous tunnel bore machine (A-TBM ), which uses internal AI algorithms, can navigate without the need for a human to do so. This breakthrough technology, second deployed in Malaysia’s MRT Putrajaya Line, has now been introduced in Australia’s Sydney Metro West tunnelling functions, marking a first for the region.
In a bold move that further cements its position as an industry leader, Gamuda is integrating generative AI ( GenAI ) into its operations. This cutting-edge technology is being used in a variety of firm processes:
Fundamental to ecology
The optimistic climate goals set forth in the Gamuda Green Plan 2025 reflect Gamuda’s commitment to sustainability. The plan includes the Group’s commitments to reducing emissions intensity by 30 % by 2025 and 45 % by 2030, with a goal to achieve net zero by 2050.  , Guided by four columns: Sustainable Planning and Design for Development, Our Group in Our Company, Environmental and Biodiversity Conservation, and Enhancing Sustainability via Digitalisation. Gamuda Green Plan 2025 illustrates Gamuda’s systematic approach to business progress with environmental management.
International Impact and Future Outlook
Gamuda’s local operations have improved as a result of its electronic transformation, which has also made it more profitable. The company’s modern techniques have provided a competitive advantage in emerging markets such as Singapore, Australia, Taiwan, Vietnam, and the United Kingdom, demonstrating the world relevance of its modern answers.
Events like ICW and BuildXpo 2024 give the construction industry an important platform to showcase their most recent innovations as the industry is under increasing pressure to become more sustainable and efficient.
Gamuda’s technology showcase at the event serves as a model for others. By integrating cutting-edge technologies with sustainable practices, the company is redefining what’s possible in construction and infrastructure development.
In the end, Gamuda Berhad’s transition from a traditional construction company to a digital innovator demonstrates the disruptive potential of technology in even the most well-established sectors. As it continues to push the boundaries of innovation, Gamuda is not just building structures, it’s constructing the future of the industry itself. For businesses across sectors, Gamuda’s story offers valuable lessons in the importance of embracing digital transformation, fostering a culture of innovation, and balancing technological advancement with environmental responsibility.
From November 14 to November 20, Prime Minister Lawrence Wong may travel to South America for two international sessions.
Mr Wong will first visit Peru from Nov 14 to Nov 16 to attend the 31st Asia-Pacific Economic Cooperation ( APEC ) Economic Leaders ‘ Meeting ( AELM), at the invitation of President Dina Boluarte,  , the , Prime Minister’s Office ( PMO ) said on Wednesday ( Nov 13 ).
He may then go to , Rio de Janeiro, Brazil for the G20 Summit from Nov 17 to Nov 20, at the offer of President Luiz Inacio Lula da Silva.
Peru is the number business of APEC this time, while Brazil holds the G20 president.
Under the style” Empower, Include, Grow”, the , APEC leaders will , discuss ways to promote trade and investment for equitable and connected growth, and the transition towards the elegant and world economy, among different topics, the PMO said.  ,
Mr Wong may also join in several discussions, and the Leaders ‘ Retreat.  ,
With the style” Building a Only World and a Green Planet”, Brazil’s G20 administration” seeks to address global issues of injustice, hunger and poverty, promote sustainable and inclusive growth, and rally support for international leadership reform”, said the PMO.
Mr. Wong will speak at the summit about the importance of multilateral cooperation in promoting growth, reforming global governance institutions for greater impact, energy transitions to meet collective net zero ambitions, and job creation, according to the statement.
On the ALEM and G20 Summit’s agenda, Mr. Wong will also meet with his counterparts in bilateral meetings.
According to PMO, he will be accompanied by Minister for Foreign Affairs Vivian Balakrishnan and senior government officials, according to PMO.
The APEC and G20 delegations, respectively, will include senior officials from the ministries of finance and trade and industry.
Acting Prime Minister will be Deputy Prime Minister and Trade and Industry Minister, Mr. Wong’s absence.
PUBLISHED: 10 Nov 2024 at 18: 22
Thailand is putting together a Thailand Pavilion to showcase its climate change initiatives and discussions, with products and activities based on Moo Deng, the baby pygmy hippo, that will be featured at the 29th Conference of the Parties ( COP29 ) in Azerbaijan.
The UN Framework Convention on Climate Change ( UNFCCC), which is scheduled to take place in Baku, Azerbaijan’s capital city, on November 9 through to November 22, will be a part of the minister’s announcement on Sunday, Natural Resources and Environment Minister Chalermchai Sri-on said.
He claimed that the event may help Thailand work with other nations to achieve carbon neutrality by 2050 and net-zero emissions by 2065.
According to him, the government has collaborated with public and private partners to establish the Thailand Pavilion to demonstrate its efforts to combat climate change.
The palace will show four key areas: climate policy, weather technology, climate action, and climate finance, as well as a technology and innovation zone to existing efforts in greenhouse gas reduction and carbon capture.
Mr Chalermchai said a range of side activities was likewise planned, including dialogues and communities to exchange ideas, information, knowledge and experiences on over 30 issues
The Thailand Pavilion will also have activities like a photo kiosk and souvenirs made by Thailand’s Khao Kheow Open Zoo’s prominent baby pygmy hippo, Moo Deng.
From November 11 through November 22, Mr. Chalermchai said, the people can observe changes and regular happenings at the Thailand Pavilion and COP29 part events live on the Department of Climate Change and Environment’s Instagram page.
Meanwhile, the People’s Party ( PP ) said Thailand should use COP29 to emphasise its commitment to achieving net zero emission goals.
Saniwan Buaban, a list-MP, suggested rules for the authorities to explain at the conference on Sunday.
She suggested that the Thai government should declare its commitment to boosting endurance, lowering climate-related risks, and increasing endurance.
She also urged the government to emphasise the need for information, engineering, technology, experience, several funding sources, and its intention to access international funds.
Passenger count to double in 20 years
PUBLISHED : 29 Oct 2024 at 05:03
The Transport Ministry is looking to support six airport development and construction projects, preparing the country to be the region’s transportation hub.
Deputy Transport Minister Manaporn Charoensri said on Monday that representatives from the ministry’s Airport Department, the Airport of Thailand, the Aeronautical Radio of Thailand, and other related agencies had recently attended the 59th Directorate General of Civil Aviation (DGCA) Conference in the Philippines.
The conference, held from Oct 14-18 and attended by international aeronautical authorities from 47 countries, discussed the economic development of air transportation, and the number of passengers was estimated to double in the next 20 years.
She said this requires heavy infrastructure investment, especially in the Asia-Pacific region.
According to her, the conference also addressed its “Net Zero Roadmap: Decarbonise Your Airport” project, encouraging zero emissions achievement, and advocated transportation equality.
Following the conference, Ms Manaporn said the ministry is preparing to support the Airport Department’s nationwide infrastructure investment plans.
The plans include enhancing the capacity of the existing airports as well as developing new airports in six provinces, namely Mukdahan, Bueng Kan, Satun, Phayao, Kalasin, and Phatthalung.
Ms Manaporn said the ministry had instructed the Airport Department to prioritise the designs that promote user safety and install enough up-to-date safety equipment for current measures to help with security screening.
It also instructed the department to adopt a universal design that helps with accessibility for disabled users while promoting transportation equality.
She added that the new airport projects are urged to be ecologically and sustainably developed toward zero carbon emissions and the Airport Carbon Accreditation (ACA) Level 5.
Danai Ruangsorn, director of the Airport Department, said the airport projects in Mukdahan, Bueng Kan, and Satun are in the design process and undergoing an Environmental Impact Assessment (EIA), while a budget to conduct an EIA for the Phayao airport next year has already been approved.
The Kalasin airport and Phatthalung projects are in a feasibility study phase.
He added that the airport projects will support transportation equality and encourage the employment of people of various values and cultural backgrounds, under the concepts of sustainability, flexibility, and comprehensiveness.
At an event held by the energy industry on Monday ( October 21 ), ministers from New Zealand and Cambodia stated that political risks associated with potential loss of public support are a major obstacle to switching to cleaner energy sources. ” It’s incredibly important to take the public withContinue Reading
If China submits more ambitious pledges to the UN first in the year, according to an economic think tank, its emissions of carbon dioxide could drop by a second by 2035 and meet the goals of the Paris Agreement. As part of their Paris obligations, nations must deliver new andContinue Reading
The main banks and financing method used by Muslim communities is Islamic finance. The Shariah-compliant section was created in accordance with Islamic law, which forbids specific activities like the collection of interests and investments in dangerous businesses like tobacco and pornography.
Islamic finance accounts for around 3 % of the global financial markets by valued assets, with key activities in Southeast Asian ( SEA ) markets such as Indonesia, Malaysia and Brunei, and the Middle Eastern region. Islamic finance consists of Islamic banking, Sukuk ( fixed income ), Islamic equity funds and Islamic insurance, among other lines of business.  ,
In the Middle East, the Islamic finance market is estimated to be worth$ 2 trillion in 2024 and is expected to reach$ 2.57 trillion by 2029, according to reports. Iran and Saudi Arabia are two of the world’s largest markets by Shariah-compliant assets, with over$ 400 billion in both countries.
According to S&, P Global Ratings, the Gulf Cooperation Council ( GCC ) countries had the highest percentage of Islamic banking assets in 2023, making up 70 % of that percentage.
In this part, FinanceAsia spoke to promote players to find out where they see the most options.
Sukuk: an alternative funding cause
Data from S&, P Global Ratings suggested that 37 % of the Sukuk securities in 2023 came from manufacturers based in GCC places, revealing a growing Islamic money have from Arab businesses. Saudi Arabia has been the major growth drivers, especially in dollar-denominated Sukuk securities.
Some proceeds from the Sukuk issuances are channelled to activities related to energy transition and sustainability, on top of general business operations, according to Sue Lee, director and Asia Pacific ( Apac ) head of index investment strategy at S&, P Dow Jones Indices.
This coincides with a trend across the majority of Arab governments to cut back on oil-related economy. New technologies like natural technology and clean energy are higher on the agenda in the context of the growth travel. For instance, Saudi Arabia wants to use 50 % of alternative energy by 2030 and has a goal of going from zero to zero by 2060.
In order to accomplish these objectives, significant funding is required to support the development of the region’s facilities and engineering, which in turn increased the volume of fixed income bonds issued.
Sukuk, as a Shariah-compliant alternative to conventional ties, provides lenders with a diversified revenue resource by tapping into a unique investment pool, Lee said. For instance, markets in SEA, such as Malaysia, are long-time officials within the Islamic banking area.
In the first quarter of 2024, Sukuk items performed statistically better than its competition on the secondary marketplace.
Lee explained that this is related to a shorter Sukuk lifespan on average, which is typically less than five centuries. Short-term lending has become advantageous for the Muslim fixed income solution in a market with rising interest rates.
However, green Sukuk is growing rapidly from a small foundation, supporting the energy transition of Arab countries.
Equity money: growing buyer demand
Munirah Khairuddin, chief executive officer ( CEO ) Malaysia and managing director, strategic distribution and institutional client relations, Southeast Asia and global Shariah, at Principal Asset Management, said that the teams is seeing growing interest from Middle Eastern investors, especially those based in Saudi.
” As Middle Eastern markets grow and expand, there will be an increased need for Shariah-compliant purchase goods. Traders who are guided by Islamist beliefs will look for opportunities that are in line with their beliefs, she said.
A premium is currently relevant to other asset lessons as well as Shariah-compliant opportunities.
For example, the S&, P 500 Shariah, an index which covers all Shariah-compliant constituents of S&, P 500, offers a 1-year return at 26.77 %, slightly higher than that of S&, P 500 at 26.15 %. Over the past five decades, according to Lieu, Shariah-compliant global capital indices generated on average 2.5 % extra return per year compared to their regular counterparts.  ,  ,
The Shariah-compliant index, filtered with Shariah rules, taking out monetary stocks and high-leveraged sectors such as energy, which in turn leads to an increased conduct of other sectors such as technology stocks. Islamic indices will typically outperform financials in times of outperformance for the information technology ( IT ) sector.
Steven Larson, investment manager, world stocks, at Principal Financial Group, echoed these views, expecting boosting returns generated from IT, logistics, medical and biological sectors.
He claimed that the worldwide Islamic finance sector’s assets are just growing swiftly in a select few key markets.
Larson added:” Additionally, we see an increased appetite for private market materials, however, the market lacks shariah-compliant structures to cater to the rising demand. However, we are seeing more efforts from property managers to create more shariah-compliant strategies in real property, private financing and secret equity”.
On top of that,” Shariah rules share a lot of commonalities with environmental, social and governance ( ESG) principles. And as more buyers look to these rules while investing, results of ESG or Shariah-compliant firms may get affected”, Lee pointed out.
She said that a rise in silent property should be a potential prospect because Islamic cash ‘ percentage of quiet assets under control is much lower than that of regular ones.
Meanwhile, Kuala Lumpur-based Khairuddine pointed out how regional initiatives and partnerships can help standardise practices, enhance liquidity and create larger markets. To make Islamic finance more accessible, improvements are also made to trading platforms, settlement systems, and regulatory frameworks.
Digitising Islamic finance
Islamic finance also faces a problem of limited products, as well as investment appetites. Saif Khan, founder of iFintechpro, a fintech player focussing on Islamic finance, said enhances in technology and digitisation would help.
Middle Easterners are increasingly using digital products, with more and more people opting for them. The landscape is shifting towards a digital-first approach”, he told FA.
These include digital Islamic banking, digital Sukuk issuances, and tokenisation of real-world assets, on which Khan’s team is working on. He claimed that the blockchain technology would lower thresholds and improve risk profiles of investment projects, thereby making Islamic investment more accessible. For example, assets like buildings, solar farms and agricultural projects can be tokenise, enabling retail investors to invest and benefit.
” Technology can reduce the wealth gap by making high-quality investment products available to everyone”, he said.  ,  ,
Khan claimed that some Middle Eastern markets have already established a welcoming regulatory framework despite the fact that the practice is still in its infancy. The Dubai Financial Services Authority ( DFSA ) introduced its rules over investment tokens in Dubai in 2021 as part of its digital asset regime. Qatar and Saudi Arabia have also put in place the same guidance.
According to Islamic law, tokenization of Waqfs, which refers to endowments of property that are given for religious and charitable purposes, could be a useful application.
” This can lead to tremendous social impact by providing transparency, traceability and greater trust”, he explained. ” With smart contracts on chain, updates could be automated and simplified for stakeholders”.
To press ahead, more communication between regulators and different players is needed, Khan added. For example, legal structuring, investor protection, liquidity and market education are some aspects to carefully consider.
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