Sunway, Huawei and Chargesini team up to expand EV charging infrastructure nationwide 

  • Partnership may help form a more sustainable, socially- friendly future
  • All parties may utilize their strengths to improve M’sia’s EV charging system

Left to Right: Huawei Malaysia vice president of Digital Power Business Department, Chong Chern Peng, Sunway Trading and Manufacturing CEO, Yeoh Yuen Chee and ChargeSini CEO and founder James Goh

Sunway Group, Huawei Technologies ( Malaysia ) Sdn Bhd, and ChargeHere EV Solution Sdn Bhd ( ChargeSini ) have signed a Memorandum of Understanding for the development and rollout of more electric vehicle ( EV ) charging stations at Sunway- owned premises, commercial buildings and residences nationwide.

All parties will make use of one another’s talents and skills to lessen range anxiety and improve Malaysia’s EV charging infrastructure in this bilateral agreement, which was formalized at the Malaysia Autoshow 2024 in Malaysia Agro Exposition Park Serdang.

Through this partnership, ChargeSini, one of Malaysia’s biggest EV charging alternative suppliers, will procure, place, and control the activity of EV charging stations at strategic locations across Sunway’s included townships and developments nationwide. Huawei Malaysia may act as the tech consultant throughout the development process and give after-sales service support.

Yeoh Yuen Chee, the CEO of Sunway Trading and Manufacturing, stated,” Sunway is pleased to mate with Huawei Malaysia, once more, and ChargeSini to create and produce EV getting channels more visible and accessible throughout the country.”

He added that both public and private sectors have a role to play in Malaysia’s regional goal to set up 10, 000 EV charging channels by 2025, as outlined in the Low Carbon Mobility Blueprint (LCMB) 2021- 2030. In this situation, Sunway is determined to advance the green growth plan and realize our goal of achieving net zero emissions by 2050. We are convinced that this relationship will help to shape a more responsible and environmentally friendly potential, Yeoh said.

Chong Chern Peng, vice chairman of Huawei Malaysia’s Digital Power Business Department, stated that as a result of its development in the energy transition journey, Malaysia’s automotive industry is securing its place in the EV ecosystem. We want to work together to further strengthen this position and promote EV adoption in Malaysia through our charging solutions through our strategic partnership with ChargeSini and Sunway.

He continued,” Human Malaysia is committed to developing innovative sustainable solutions for a shared green future.”

Additionally, James Goh, ChargeSini CEO and Founder, stated that this partnership is a testament to our shared desire for a sustainable future. We are committed to creating an effective EV charging network that will benefit local communities in Malaysia and beyond by leveraging Sunway’s advanced technology. This initiative demonstrates our commitment to promoting sustainable urban development and reducing carbon emissions. Together, we fuel the Malaysia 2050 Net- Zero Mission”.

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India aims to be global superpower of renewable energy, but faces funding shortage

Gujarat’s eastern state of Modhera, which has a popular Hindu sun temple that dates back to the 11th century, was chosen as the country’s first solar-powered village.

The American government’s plans to make quarter of its electricity from renewable sources by 2030 include the solar project in the village. &nbsp,

Prime Minister Narendra Modi has also pledged that India will reduce its greenhouse gas emissions to” online low” by 2070.

One of Mr. Modi’s campaign promises is that the world’s most populous nation will become “energy impartial” in the coming decades. He is currently seeking a unique second term in strength.

India’s trade gap is growing as a result of expensive fossil energy imports, making the development of renewable energy even more crucial.

Yet, despite significant progress being made in expanding the use of renewable energy sources, experts claim that a lack of funding is stifling progress.

LESS THAN HALFWAY TO 2030 Specific

Official statistics indicate that since Mr. Modi came to power ten years ago, India’s clean energy capacity has more than doubled to 188 terawatts.

Despite this, however, the state is not even halfway to its target of 500 gigawatts by 2030.

Analysts claimed that the objective is realizable, but that concerns about cost of capital must be addressed in order to increase investor interest in the market.

According to a report from Ember, India needs about US$ 300 billion in funding to fulfill its capacity goals by 2030. If it were to coincide with the net-zero road proposed by the International Energy Agency, it would need an extra US$ 100 billion.

According to Ms. Shailendra Singh Rao, leader and managing director of Creduce, there must be a” money force” from the state in terms of the money, money additions, and funding provided by the banks at lower rates.

” ( The ) proper infrastructure, the transportation and other activities need to be pushed in order to add more capacity,” she added.

The government’s intention is evident, Ms Rao noted- for India to become the international powerhouse of strength change and clean energy.

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AstraZeneca invests .5bn in Singapore facility for next-generation cancer drugs | FinanceAsia

AstraZeneca, a global pharmaceutical company, has stated plans to build a$ 1.5 billion manufacturing facility in Singapore for antibody drug conjugates ( ADCs ), in order to increase the global supply of its ADC portfolio, according to a May 20 media release.

ADCs are the newest treatments that use a targeted antibody to deliver cancer-killing agents instantly to cancer cells. The production of ADCs is a multiple- step process that includes antibodies manufacturing, production of chemotherapy drug and linker, conjugation of drug- linker to the antibody, and filling of the completed ADC substance.

AstraZeneca wants to start building the manufacturing service by the end of 2024, with a goal of functional preparation starting in 2029. AstraZeneca added that it will collaborate with the government of Singapore and other parties to develop efficient solutions for the ADC service. The service will be constructed to produce no coal from its first time of operation.

The planned new service is supported by the Singapore Economic Development Board ( EDB), and it will be AstraZeneca’s second “end- to- end” ADC manufacturing site.

EDB’s president Png Cheong said in the discharge:” We welcome AstraZeneca’s decision to establish a manufacturing appearance in Singapore for the first time. AstraZeneca will also have a first in the world by having an end-to-end manufacturing facility for book antibodies drug conjugates that enable precise cancer treatments.

Cheong continued,” This new purchase is a powerful show of confidence in Singapore’s biotech production capabilities and talent, strengthens our ecosystem in supporting the development and manufacturing of precision medicines, and creates important jobs and economic opportunities for Singapore. We look forward to a successful relationship with AstraZeneca”.

Pascal Soriot, chief executive officer, AstraZeneca, said:” Singapore is one of the country’s most beautiful countries for funding given its reputation for excellence in difficult production, and I’m excited for AstraZeneca to find our$ 1.5 billion ADC production facility in the country”.

AstraZeneca has a broad portfolio of in- house ADCs, including six wholly owned ADCs, and “many more” in preclinical development, the release said.

¬ Haymarket Media Limited. All rights reserved.

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IIB strengthens partnerships with GBS Malaysia, iTrain Asia and MDEC through GBS Iskandar @ Medini

  • Aims to achieve a specific funding of US$ 212 mil by 2030 in Medini
  • Programme has garnered US$ 552 mil in opportunities, created 6, 500 jobs in Medini since 2016

Idzham Mohd Hashim, President/CEO of IIB (4th from left) and GBS Iskandar growth partners strengthening the GBS ecosystem in Medini, Iskandar Puteri, Johor to reinforce IIB’s commitment to position Medini as the region’s first net zero carbon CBD 2030 focusing o

Through two important Memoranda of Understanding ( MOUs ) with GBS Malaysia and iTrain Asia, Iskandar Investment Berhad ( IIB ) has expanded its partnership with Global Business Services ( GBS ) Iskandar@Medini. Additionally, it collaborates with Malaysia Digital Economy Corporation ( MDEC ) to enhance its GBS ecosystem in Medini, Iskandar Puteri. &nbsp,

This program reinforces IIB’s devotion to place Medini as the state’s second net zero carbon CBD by 2030 focusing on modernization, innovation, and GBS, the company said, in a statement. &nbsp,

It added that in line with this commitment, the firm aims to achieve a target investment of US$ 212 million ( RM1 billion ) by 2030 in Medini. According to the investment target, Medini’s position as Johor’s online and innovation hub will also be supported by the creation of at least 2,500 jobs in the modern economy sector.

Idzham Mohd Hashim, President/CEO of IIB, stated,” The GBS Iskandar programme has achieved US$ 552 million ( RM2.6 billion ) of investments and 6, 500 jobs in Medini since its inception in 2016. As we embark on the next chapter of the GBS Iskandar initiative, IIB reaffirms our commitment to fostering growth and innovation within Malaysia’s GBS sector” .&nbsp,

He added that Medini’s GBS Iskandar’s success is attributed to its strategic location, which serves as a gateway for multi-modal vehicles with smooth connection by property, air, and sea. &nbsp,

Medini, which is 40 minutes from Singapore and is situated between two major seaports and three international airports, offers unmatched availability and administrative advantages, making it an ideal location for GBS companies to prosper. By leveraging on mix collaborations within the double helix framework of industry, academia, government and civil society, we are poised to help tailored solutions spanning incentives, proper initiatives, talent development, and government liaison efforts, ensuring the GBS companies thrive in Medini’s attractive landscape”, Idzham said.

By leveraging Medini’s proper place and friendly ecosystem, the collaboration between IIB and GBS Malaysia aims to establish the region’s top regional hub for GBS procedures. This partnership demonstrates our shared responsibility to positioning Malaysia at the vanguard of the world’s modern business.

Additionally, the partnership between IIB and iTrain Asia focuses on empowering and mentoring initiatives designed to help businesses in the GBS industry advance the benefit chain through AI, automation, and sustainability initiatives, ensuring the workforce is equipped with the most recent knowledge that is necessary for success in the modern economy.

In order to make Medini a top destination for high-value jobs and sustainable growth, this collaboration will foster an environment conducive to continuous learning and innovation in order to meet the changing needs of GBS companies.

The upcoming partnership with MDEC, which aims to encourage foreign direct investments for the GBS industry, is anticipated. This partnership, slated to be announced in Q3 2024, aims to target new companies seeking a strategic and well- supported environment for expansion.

Mahadhir Aziz, CEO of MDEC said,” Our partnership with IIB underscores MDEC’s steadfast commitment to driving digital transformation, fostering talent development, and boosting economic growth in the GBS sector. This sets the stage for Johor to become a key destination for global investments” .&nbsp,

He added that this collaboration is in line with Malaysia’s national strategic initiative to advance Malaysia’s digital infrastructure, provide comprehensive business support, and strengthen Malaysia’s position as Asean’s digital hub.

Chairman of GBS Malaysia, Anthony Raja Devadoss, emphasised,” The strategic partnership with IIB marks a significant milestone in our collective efforts to grow the GBS industry in Malaysia. We are committed to unlocking Medini’s full potential and positioning Malaysia as a powerhouse in the global GBS landscape by leveraging strategic advantages and creating a dynamic ecosystem for growth and innovation.

In addition, due to its favorable environment for innovation and learning, Eric Ku, executive director of iTrain Asia, added that” Medini stands as the ideal location for talent development within the GBS sector.” With its strategic positioning as a hub for technology, innovation, and global business services, Medini offers a dynamic ecosystem that fosters collaboration and skill enhancement. It provides an unparalleled opportunity for individuals to upskill and reskill, preparing them to thrive in the digital economy, in combination with the robust support provided by initiatives like the GBS Iskandar. &nbsp, &nbsp,

We are appreciative of our partners and stakeholders for their unwavering support throughout this transformative journey, Idzham once more stated. Together, we are advancing our strategic goals for Medini and supporting the development of the Johor-Singapore Special Economic Zone. Let us all reaffirm our commitment to making Medini the preferred gateway to Southeast Asia, in the interests of Johor and the country as we move forward.

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Death toll from south China road collapse rises to 48

China: The death toll from a bridge collapse in southwestern China’s Guangdong province has risen to 48, position press said on Thursday ( May 2 ), as recovery work continued. According to state news agency Xinhua, heavy rains on Wednesday caused a section of the road running from Meizhou areaContinue Reading

Govt salutes AI industry

Nation ‘ ready for the future’, PM says

Govt salutes AI industry
Satya Nadella, the CEO of Microsoft, is greeted by Prime Minister Srettha Thavisin during the” Special Social Lunch Microsoft Build: Artificial Day” on Wednesday at the Santi Maitree Building in Government House. Government House

According to Prime Minister Srettha Thavisin, the state is fully committed to supporting and supporting the Artificial sector and paving the way for potential digital system.

No one can dispute the fact that AI is one of the most revolutionary makes this decade, he said on Wednesday at the start of the” Microsoft Build: Artificial Day Event” at the Queen Sirikit National Convention Center in Klong Toey area.

We are pleased to inform you that Thailand is presently available for AI and that the government is taking full support for the AI industry in this nation.” AI has undoubtedly changed some aspects of our lives, organizations, and how we conduct business today. Our modern facilities is ready for the future,” he added.

The occasion attracted about 2, 000 business and technology officials.

According to Mr. Srettha, Thailand has one of the region’s strongest internet and modern facilities, including broadband net, wireless communication, 5G, and an international submarine cable system.

The” Ignite Thailand “vision, launched in February, demonstrated the government’s dedication and obvious way to enhance Thailand into a local hub in eight important business, Mr Srettha said.

This includes digital economy, hospitality, well and health, food, aviation, potential mechanical, and finance. Thailand should become a “digital business hotspot” of the area, if not the world, as a key component of this vision. This perspective involves attracting higher- tech industries of the future, and even nurturing a secure online ecosystem, including infrastructure providers and developers, he said.

Since he took office last September, Mr Srettha said the government has implemented various important policies, both quick- term and lengthy- term, to strengthen Thailand’s competitiveness and enhance the country’s international stature.

The second phase of the national AI strategy and action plan for the period of 2024 to 2027 is being pushed forward at the national level. By implementing projects to strengthen the AI ecosystem, he said, this will further harness the power of AI and cloud computing in the nation.

According to Mr. Srettha, Thailand’s Board of Investment has included the digital industry among the strategic investment options. A comprehensive investment incentive package was created to promote digital-related activities.

In addition, the government is working on the green energy transition.

According to Mr. Srettha, businesses require renewable energy to meet their net-zero goals. The government has a top priority to meet global climate change commitments, including those regarding carbon neutrality and net zero, as well as the government’s plan to have 50 % of energy produced from renewable sources by 2040.

Additionally, the government has pledged to provide more than 9 gigawatts of new energy capacity through the Utility Green Tariff system by 2030. According to him, this will make it possible for any business looking to invest in Thailand to access clean energy at a reasonable price.

Additionally, the government will collaborate with leading digital businesses like Microsoft to create a sustainability sandbox to promote environmental innovation.

Mr Srettha said he was delighted to learn Thailand’s commitment to propel the nation forward aligns with Microsoft’s vision.

Last November, the government and Microsoft signed an MoU to pursue the vision of a cloud- first, AI- powered Thailand.

In this regard, Mr. Srettha expressed his satisfaction that Microsoft would work with the government to develop our human resources and promote greater access to opportunities and education for local communities across the country.

He claimed that the government is committed to making Thailand the ideal location for the digital industry and that the partnership with Microsoft will have a brighter future.

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Tensions grow as China ramps up global mining for green tech

Aerial view of SQM (Sociedad Quimica Minera) lithium extraction process in the Atacama Desert, Chile, on September 12, 2022.Getty Images

Ai Qing was awakened earlier this year by obnoxious slogans outside her dorm in northeastern Argentina in the middle of the night.

She observed Brazilian employees blocking the entrance with flaming tires and a peeing out of the window.

” I could see the clouds being lit up by the flames,” I thought,” and it was getting terrible.” It had become a riot”, says Ms Ai, who works for a Chinese firm extracting lithium from salt flats in the Andes peaks, for use in batteries.

As China, which currently dominates the handling of minerals crucial to the efficient market, grows its participation in mining them, the protest, which was sparked by the firing of a number of Brazilian staff, is just one of a growing number of cases of friction between Taiwanese businesses and host communities.

It was just 10 years ago that a Chinese firm bought the country’s first interest in an extraction project within the “lithium rectangle” of Argentina, Bolivia and Chile, which holds most of the country’s lithium reserves.

Some more Chinese investments in nearby mining activities have followed, according to mine publications, and corporate, government and media reviews. According to the BBC, Chinese firms now control an estimated 33 % of the lithium at tasks that are currently producing the material or those that are under development based on their shareholdings.

Aerial view of SQM (Sociedad Quimica Minera) brine ponds in the Atacama Desert, Chile, on September 12, 2022.

Getty Images

However, as Chinese companies have grown, there have been allegations of abuses similar to those that are frequently committed against other international mining companies.

For Ai Qing, the tyre- burning protest was a rude awakening. She had anticipated a quiet life in Argentina, but because of her Spanish, she ended up facilitating conflict mediation.

” It was n’t easy”, she says.

We have to tone down many things, including how management perceives the employees as being too lazy and dependent on the union, and how the locals believe that Chinese people are only here to exploit them.

At least 62 mining projects in the world, in which Chinese companies own a stake, are intended to extract either lithium or one of the three other minerals crucial to green technologies: cobalt, nickel, and manganese.

All are used to produce lithium-ion batteries, which are now high industrial priorities for China, along with solar panels. Some initiatives are among the world’s top producers of these minerals.

World maps showing lithium, cobalt, manganese and nickel mining projects in which China has a stake

According to the Chatham House think tank, China has long been the world’s leader in lithium and cobalt refining, with a share of global supply reaching 72 % and 68 %, respectively, in 2022.

Its ability to refine these and other crucial minerals has helped the nation get to a point where it made 60 % of the wind turbines ‘ global production capacity, controls at least 80 % of each stage of the solar panel supply chain, and has contributed to the nation’s reach a point where it made more than half of the electric vehicles sold worldwide in 2023.

These items are now less expensive and more accessible on a global scale thanks to China’s involvement in the sector.

However, China will also need to mine and process the minerals necessary for the green economy. According to the UN, their use must increase six fold by 2040 if the world is to achieve net-zero greenhouse gas emissions by 2050.

The US, the UK and the European Union have all developed strategies, meanwhile, to reduce their dependence on Chinese supplies.

Graphic showing the components in a typical lithium-ion battery and relative costs.

As Chinese companies have expanded their mining operations overseas, reports of issues being brought on by these projects have steadily increased.

According to the Business and Human Rights Resource Center, an NGO, these issues are” not unique to Chinese mining,” but a report from last year listed 102 allegations made against Chinese companies engaged in extracting crucial minerals, ranging from environmental damage to dreadful working conditions.

These allegations dated from 2021 and 2022. More than 40 additional allegations that were reported by NGOs or the media were counted by the BBC in 2023.

People in two countries, on opposite sides of the world, also told us their stories.

Activist Christophe Kabwita

BBC Byobe Malenga

Christophe Kabwita, a leader in the opposition to the Jinchuan Group’s Ruashi cobalt mine, has been based far south of Lubumbashi.

He says the open- pit mine, situated 500m from his doorstep, blights people’s lives by using explosives to blast away at the rock two or three times per week. Sirens scream as the blasting is about to begin as a warning to everyone to stop what they are doing and seek refuge.

” Whatever the temperature, whether it’s raining or a gale is blowing, we have to leave our homes and go to a shelter near the mine”, he says.

This applies to everyone, including the sick and women who have just given birth, he adds, as nowhere else is safe.

A village bordering Ruashi mine's open pit

BBC Byobe Malenga

Katty Kabazo, a teenage girl, was reportedly killed by a flying rock on her way home from school in 2017, while other rocks are said to have pierced local homes ‘ roofs and walls.

Elisa Kalasa, a representative from the Ruashi mine, acknowledged that “one young child was in that area- she was not supposed to be there and was impacted by the flying rocks.”

She claimed that since then,” we have improved the technology, and we have the sort of blasting where there are no flying rocks anymore.”

However, the BBC spoke to a processing manager at the company, Patrick Tshisand, who appeared to give a different picture. He said:” If we mine, we use explosives. Explosives can cause flying rocks that can end up in the community because it is too close to the mine, so we’ve had a few instances of accidents like that.

Additionally, Ms. Kalasa reported that the company paid more than 300 families to move away from the mine between 2006 and 2012.

On Indonesia’s remote Obi Island, a mine jointly owned by a Chinese company, Lygend Resources and Technology, and Indonesian mining giant Harita Group has rapidly swallowed up the forests around the village of Kawasi.

Jatam, a local mining watchdog, says that villagers have been under pressure to move and accept government compensation. Numerous families have resisted moving because the inventory is below market value. Some claim that as a result of their alleged disruption of a project of national strategic importance that they have been subject to legal action.

satellite map of Obi island in 2016

1px transparent line

Satellite map of Obi island in 2024

According to Jatam, old-growth forests have been cleared to make room for the mine, and they have documented how sediment has been accumulating in the rivers and oceans, polluting what was once apristine marine environment.

” The water from the river is undrinkable now, it’s so contaminated, and the sea, that is usually clear blue, turns red when it rains”, Nur Hayati, a teacher who lives in Kawasi village, says.

Indonesian soldiers have been stationed on the island to guard the mine, and when the BBC recently visited, there was a resonant, more active military presence. Jatam claims soldiers are being used to intimidate, and even assault, people who speak out against the mine. Ms. Nur claims that her community believes that the army is there to “protect the interests of the mine, not the welfare of their own people.”

The military’s representative in Jakarta claimed that while the soldiers were present to “protect the mine,” they were not there to “directly interact with locals.”

He claimed in a statement that the police had “peacefully and smoothly” overseen the villagers ‘ relocation to make way for the mine.

Ms Nur was among a group of villagers who travelled to the Indonesian capital, Jakarta, in June 2018, to protest against the impact of the mine. But a local government representative, Samsu Abubakar, told the BBC no complaints had been received from the public about environmental damage.

He also shared an official report that stated Harita Group had been” conforming with environmental management and monitoring obligations.”

Harita itself stated to us that it adheres strictly to ethical business practices and local laws and that it is “working continuously to address and mitigate any negative effects.”

It asserted that it had not led to widespread deforestation, that it had been monitoring the neighborhood’s drinking water source, and that independent tests had established that the water had adhered to government quality standards. It added that it had not intimidated anyone and had not engaged in forced evictions or unfair land transactions.

Red sediment pours from a river into the sea in the village of Kawasi in October 2022

Getty Images

A year ago, the Chinese mining trade body, known as CCCMC, started setting up a grievance mechanism, intended to resolve complaints made against Chinese- owned mining projects. The companies themselves “lack the ability- both cultural and linguistic” to interact with local communities or civil society organisations, says a spokesperson, Lelia Li.

However, the mechanism still is n’t fully operating.

Meanwhile, China’s involvement in foreign mining operations seems certain to increase. It’s not just a “geopolitical play” to control a key market, says Aditya Lolla, the Asia programme director at Ember, a UK- based environmental think tank, it also makes sense from a business perspective.

” Acquisitions are being made by Chinese companies because, for them, it’s all about profits”, he says.

In consequence, Chinese workers will continue to work on global mining projects, which are typically good for them because they have a chance to make a good living.

People like Wang Gang, who has worked in Chinese-owned cobalt mines in the Democratic Republic of the Congo for ten years. The 48- year- old lives in company accommodation and eats in the staff canteen, working 10- hour days, seven days a week, with four days’ leave per month.

Because he earns more than he could at home, he accepts the separation from his Hubei province family. Additionally, he enjoys the DR Congo’s tall forests and clear skies.

He communicates with local mine workers in a mixture of French, Swahili, and English, but says:” We rarely chat, except for work- related matters”.

Even Ai Qing, who speaks fluently in her home country, has little interaction with Argentines at home. She started dating a Chinese worker, and they mostly hang out like themselves because moving so far away from home makes people feel more connected.

Visiting the salt flats high up in the Andes, where the lithium is mined and life is” chill,” is a highlight for her.

” The altitude sickness always gets me- I ca n’t fall asleep and I ca n’t eat”, she says. ” But I really do enjoy going up there because things are much simpler and there are no office politics.”

Ai Qing and Wang Gang are pseudonyms

Additional reporting by Emery Makumeno, Byobe Malenga, Lucien Kahozy

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Tiny hotels eye expansion amid high demand, growing eco-tourism market

A HUGE PLUS POINT OF Flexibility

At Lazarus Island, another businessman is seeing ownership rates of between 80 and 90 per share for its five little houses, each measuring between 150 square feet and 170 square metres.

The business began working on the project in the middle of the crisis, which ended in May of last year.

” During the pandemic, global borders were closed. Since we were never allowed to travel abroad, we wanted Singaporeans to practice our little houses as another opportunity for staycations”, said Mr Jeff Yeo, inc- founder of Big Tiny.

The business launched its little houses business in Australia in 2017. It has since brought the idea to eight different areas, including Malaysia, Taiwan, New Zealand and Italy.

According to Mr. Yeo, flexibility is one of the biggest benefits of these rooms. Unlike normal hotels, the cabins– which come with wheels – can quickly move to fresh locations.

These compact properties are a more affordable option for short-term housing because they can be completed by three builders in roughly three hours.

” This allows us the freedom of moving to another location, so it gives our friends new experience. They can be ( cast up ) in the middle of a berry garden, a garden, or a farm”, said Mr Yeo.

This may encourage city dwellers to get away from the hustle and bustle and interact with nature while also preserving the creature comforts we have come to expect.

Industry experts concur that the option to relocate to another exclusive locations every few months can be a big plus for both new and existing customers.

” If you build a conventional resort, it’s a large capital investment. You ca n’t move it from one place to another overnight”, said Mr Joshua Loh, Ngee Ann Polytechnic’s course chair of Tourism and Resort Management.

” But it’s a different story for these hotel ideas. They can be at the city border, opened- heat car parks, or onshore islands. They offer a great alternative to the variety of hotels in places.

GOING BIG ON SUSTAINABLE TOURISM

These small hotels are even large on conservation, and attractiveness to the market of eco- mindful tourists.

Big Tiny uses recycled supplies while Tiny Pod uses shipping containers to create its components. By 2030, the latter is also looking into ways to go online low.

” The figure lotion, shampoo, and also dishwashing wet provided are completely healthy and free from toxins. Additionally, we installed solar panel on top of our little homes, according to Mr. Yeo.

Both companies have a sizable native clientele because Singaporeans are a fan of stayscations with unique ideas. They did point out that visitors are slowly becoming aware of these accommodations, and there has been a steady rise in bookings from foreigners.

The Singapore Tourism Board said it welcomes these impressive hospitality concepts, adding that such hostel experiences will enhance Singapore’s vitality and elegance.

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Decarbonising energy in Southeast Asia: A bank and regulator’s perspective | FinanceAsia

The need to connect the world energy system with the 1 is essential. 5°C purpose has never been more powerful. August 2023 marked the hottest month on record, surpassing even the document set in July 2023 by a substantial margin. The severity and frequency of climate change impacts are rising, highlighting the urgent need for activity.

According to the International Energy Agency ( “IEA” ), global carbon dioxide ( CO2 ) emissions from the energy sector reached a new record high of 37 billion tonnes ( Gt ) in 2022, 1 % above their pre-pandemic level, but are set to peak this decade.

Piyush Gupta, the CEO of DBS Bank, highlighted some of the important difficulties financial institutions are facing as they move to the energy market.

One important issue, according to Gupta, is the untested economy of many new technology. While some industries have fairly good systems solutions, others lack feasible options. Although hydrogen may hold promise, it is now too far beyond the reach of use. Even where there is systems, these innovative solutions ‘ cost points and economics frequently differ from those of fossil-based energy sources or different segments.

The economy are different when comparing the cost of solar production in regions with high thermal efficiency, like China or India, to those with cloud cover, like the tropic, according to Gupta. Elements such as the cost of land, which can be considerable for tasks requiring large places, and the costs associated with store, intermittency, and network upgrades further complicate the financial viability of projects.

In fact, some initiatives are not simple to finance based only on commercial viability.

Gupta was speaking at a screen debate at the Singapore state investment Temasek’s monthly sustainability-focused function, Ecosperity, from April 15 to 17.

The need for relevant infrastructure spending is the next problem identified by Gupta. While a job may be initiated, if the necessary investments in another system components, such as the network, are not made continuously, the site’s potential is compromised. Thus, it is crucial for a financial institution to take into account the wider communication and infrastructure requirements beyond the task itself in order to assess the viability of the investment.

The Asean nations ‘ risk prices, as discussed by Gupta, have an impact on project viability and prices. Foreign exchange threat and royal risk are included in these risk premiums. Some nations in the area are not regarded as investment-grade, which adds to the sovereign risk premium. Foreign trade risk is another important issue, as funding for these projects frequently is in US dollars while profits are generated in regional currency. Significant financial difficulties can be caused by this gap.

Finally, Gupta shared that project funding is influenced by the off-takers reliability, especially in the energy sector, where political considerations may affect payment reliability. Regime modifications can add another layer of complexity to venture financing by raising doubts about the off-taker’s commitment to completing its legal obligations. Together, these problems add to the difficulty and complexity of funding regional system jobs.

But, while difficulties exist, concerted efforts are underway to mitigate them, with continued growth of remedies aimed at overcoming these roadblocks.

Gupta, who spoke to FinanceAsia on the outside of the occasion, put forth one like solution, which he believes can have a significant influence on the sector’s journey to zero.

One of the most important components of a toolbox of solutions to climate change is establishing a reliable and open global graphite market. A strong global carbon market is a powerful tool for the personal sector to move money from developed to developing areas. This in turn has the potential to have a significant effect by enabling emerging markets to obtain funding for sustainable development tasks, which are required to speed up the transition to a low-carbon business. ”

According to Gupta, pursuing the implementation of cross-border and export industry also offers a considerable option. “These areas enable resource countries to develop capacity, size, and engineering without bearing the price, as other states purchase their authority, ” he noted.

To put this in perspective, the demand for coal funds could increase by 15 days or more by 2030 and up to 100 days by 2050. By 2030, the use and buying of carbon credits was reach$ 50 billion, subject to the successful implementation of the Article 6 code adopted at COP26.

Singapore’s online zero journey 

Singapore has set a goal of achieving net zero emissions by 2050. Singapore aims to have net-zero emissions from this industry by the same deadline given that its energy sector accounts for 40 % of its emissions. By importing fresh power from the Asean area, the nation intends to accomplish this goal.

Ngiam Shih Chun, chief executive, of the Energy Market Authority ( EMA ) of Singapore, said that while “Singapore has limited renewable energy resources, the country can access low-carbon electricity that is abundant in the region by connecting to regional power grids. This also encourages the growth of solar energy in the area and opens the door for the Asean Power Grid vision to become a reality. ”

The country has the target set to import up to fourgigawatts ( GW ) of low-carbon electricity by 2035, making up around 30 % of Singapore’s electricity supply then. EMA granted contingent certifications to trade up to 4 in 2023. 2 GW of low-carbon energy from Cambodia, Indonesia, and Vietnam. Companies are now completing feasibility studies and obtaining regulatory approvals from transit and source nations.

The projects are physically and economically feasible, and the source nation and Singapore are working together in a beneficial way, Chun said.

As Singapore actions steps down from its energy sector, Chun mentioned that these jobs are also pioneering because cross-border power trading is now constrained in the area. Their large size is also something to keep in mind, for instance, a 1,000-kilometer high voltage direct current wire from Vietnam. They are thus facing regulatory problems.

But, once cleared, they are expected to accelerate the development of cross-border buying, according to Chun.

The Laos-Thailand-Malaysia-Singapore power project, for example, took years to negotiate but is now the first successful cross-border power trading initiative across four Southeast Asian ( SEA ) countries. To improve trading volume and make multi-directional trading more profitable, discussions are currently being conducted. This advancement is in line with the Asian power grid’s goal, which promotes cross-border trading and benefits various SEA nations.

A national hydrogen strategy, which outlines the potential pathways for gas to be adopted in the energy sector, which could account for up to 50 % of the power mix, is another initiative being taken in the nation. Recognising the price differential for innovative solutions, Singapore is seeking “Pathfinder projects”. As a part of this action, Singapore aims to work with the business to experiment with and build up abilities in superior gas technologies, and identify and address any professional, protection, or regulatory issues that may arise.

Chen said that the private sector and financial institutions are closely involved in this phased approach. Currently, the focus is on shortlisting consultants and conducting pre-field studies, with funding secured to support these initiatives. The goal of the approach is to address the cost disparities brought on by new technologies and ensure the project’s viability and bankability.

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