To Represent Malaysia at the ASEAN Energy Awards 2023
KUALA LUMPUR, MALAYSIA – Media OutReach – 21 August 2023 – Kenanga Investment Bank Berhad is proud to announce that it has been named ‘Winner’ in Energy-Efficient Building in Retrofitted Building, at the prestigious National Energy Awards (NEA). The award recognises initiatives that adopt sustainable energy practices in either new or retrofitted buildings.
Initiated by the Ministry of Natural Resources, Environment, and Climate Change and the Malaysian Green Technology and Climate Change Corporation, the NEA has been held on a yearly basis since 2018. Its purpose is to identify and honour leading Malaysian corporations and institutions that adopt revolutionary sustainability initiatives, aligning seamlessly with the nation’s pursuit of a Just Energy Transition, Net Zero goals, and the advancement of sustainable development.
From a pool of 114 submissions encompassing Malaysian residents, businesses, and organisations, Kenanga Investment Bank has been selected together with 22 other entries from various categories, to proudly go on to represent Malaysia at the forthcoming ASEAN Energy Awards 2023.
Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad said, “We are proud to be part of the line-up of winners at this coveted event and to have the opportunity to represent the country for such a meaningful and crucial agenda. Central to Kenanga’s decarbonising programme is the deployment of innovative technology, and we are pleased that through piloting an AI-powered predictive cooling control solution, we are able to leapfrog the energy efficiency of our headquarters in Kuala Lumpur. We are guided by the urgent need to step up climate action and will continue to prioritise and promote sustainable practices throughout the organisation.”
The implementation of a cutting-edge Artificial Intelligence (AI) solution within the centralised air conditioning system – the most significant contributor to Kenanga Tower’s energy usage – had yielded approximately 50% reduction in its air conditioning energy consumption.
The successful transformation of its Air Conditioning (‘AC’) system and Air Handling Unit (‘AHU’), was complemented by the installation of energy-efficient lighting solutions throughout its premises, resulting in overall energy reduction of 25% at the end of December 2022, and continues to achieve substantial reduction into this year.
YB Nik Nazmi Nik Ahmad, the Minister of Natural Resources, Environment and Climate Change of Malaysia stated, “Aligning with Malaysia’s commitment to sustainable economic growth, the Ministry of Natural Resources, Environment and Climate Change organises NEA annually to raise awareness, acceptance and adoption of sustainable energy practices across all industries. I applaud the strong participation by the entrants this year and believe they are all truly winners for championing sustainable energy practices.”
The collection of the 114 submissions showcased an impressive combined energy reduction of over 1.34 GW, resulting in significant electricity savings. This achievement translates to a substantial reduction of carbon emissions, equivalent to more than 23,000 metric tonnes per annum.
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Kenanga Investment Bank Berhad (197301002193 (15678-H))
Established for almost 50 years, Kenanga Investment Bank Berhad (“The Group“) is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing.
An innovative and established home-grown brand, the Group’s digital ambition includes building a robust digital ecosystem that meets the needs of its clients and businesses. Some of its game-changing products include Malaysia’s fully online digital stockbroking platform Rakuten Trade and a fully A.I. robo-advisor, Kenanga Digital Investing. The Group also launched Malaysia’s first securities broking e-wallet, Kenanga Money, paved the way in AI-led Quan and algorithmic trading, kick-started a revolutionary supply chain financing solution for SMEs and made inroads into the digital assets space through its investment in Tokenize Technology (M) Sdn.Bhd.
The Group has garnered a host of awards and accolades reflecting its strong market position. It was awarded Highest Returns to Shareholder Over Three Years, Highest Growth in Profit After Tax Over Three Years and Highest Return on Equity Over Three Years by The Edge Malaysia Centurion Club in the Financial Services Category, Best Overall Equities Participating Organisation (Champion), Best Retail Equities Participating Organisation (Champion), and Best Online Retail Participating Organisation (Champion), as well as Best Institutional Derivatives Trading Participant (Champion) and Best Overall Derivatives Trading Participant (1st Runner Up) in the Bursa Excellence Awards 2022. The Group was also accorded the title of Best House, South and Southeast Asia Award in the SRP Asia Pacific Awards 2022.
The Group continues to be a regular and repeat recipient of distinguished industry accolades, such as the Lipper, Fundsupermart and Morningstar awards. Rakuten Trade, Malaysia’s first fully digital securities broker in 2017 via a joint venture with Japanese fintech giant Rakuten Securities Inc was also named Malaysia’s Digital Experience of the Year – Brokerage at the Asian Experience Awards 2022. For its continued efforts towards community outreach and employee volunteerism, the Group was awarded the coveted Bank of the Year Award for Environmental, Social & Governance Excellence, as well as Long-Standing Excellence in Sustainability at Sustainability & CSR Malaysia Awards 2022. The Group is also a Participant of the United Nations Global Compact and adheres to its principle-based approach to responsible business.
Today, Kenanga Investment Bank Berhad is an award-winning leading independent investment bank in the country with a continuous commitment towards driving collaboration, innovation, digitalisation and sustainability in the marketplace.