Salutations:

1. YBhg. Datuk Muhamad Umar Swift Chief Executive Officer, Bursa Malaysia

2. YBhg. Tan Sri Abdul Farid Alias Senior Independent Non-Executive Director, Bursa Malaysia

3. YBrs Mr. Adrian Marcellus Chief Executive Officer, MyDIGITAL Corporation and Head, Malaysia Centre4IR

Esteemed Corporate Leaders Distinguished guests,

Members of the media,

Ladies & gentlemen.

Good Morning and Salam Malaysia Madani.

1. I would like to thank Bursa Malaysia and MyDIGITAL Corporation for inviting me to this Memorandum of Cooperation signing ceremony.

2. This occasion is testament to our nation’s ongoing digital transformation journey. It also represents the Government’s strong commitment to embed sustainability at the very core of our development strategies.

3. The Government recognises not just the significance, but the necessity of digitalisation. In fact, the Ministry of Digital, is among others, helping to build resilient infrastructure and foster innovation.

4. These technological advancements empower societies to address both economic and environmental challenges. These innovations create new jobs and enhance energy efficiency. By promoting sustainable industries and investing in scientific research and innovation, we can drive long-term sustainable development.

5. The United Nations Development Programme (UNDP) outlined three main roles on how digital technologies can help achieve the Sustainable Development Goals (SDGs). Digital technology can allow people to connect, collaborate, and engage with each other. For example, mobile technology can support access to health services, educational information, farming and food prices, social media, news, communication, and e-government services – ensuring that social protection reaches the people who need it most.

6. Digital tools are sources of important data and increase the opportunity to measure key outcomes of relevance to the SDGs. For example, sensor networks and the Internet of Things (IoT) play a role in generating biodiversity data from marine and terrestrial ecosystems, to inform policies and interventions.

7. Tech can also provide the foundations, enablers, and other assets to support SDGs. This includes the role of digital components in improving data exchange, creating the potential for increased citizen engagement, and enabling greater government transparency.

Ladies and gentlemen,

8. In a 2023 article, the World Economic Forum highlighted digital transformation and ESG as two key priorities for the global business community. These objectives can—and should—work in tandem within today's stakeholder economy.

9. Ernst and Young (EY), in its quarterly CEO Outlook Pulse, had in April 2024 revealed that CEOs around the globe prioritised artificial intelligence (AI) transformation for immediate productivity gains, while also focusing on long-term goals of achieving net zero emissions and developing new revenue streams. Its survey of 1,200 executives found that 54% now view sustainability issues as a higher priority than they did a year ago.

10. This shows that corporations, and its leaders, are beginning to realise that ESG principles can no longer be sidelined. Businesses are also being held accountable for their impact in ESG.

11. In Europe, the Corporate Sustainability Reporting Directive has set new standards for corporate transparency and accountability. It requires companies to disclose their ESG practices in greater detail.

12. In the United States of America, the Securities and Exchange Commission has proposed new rules for climate-related disclosures by public companies and investors.

13. According to an article by the World Economic Forum, Malaysia is taking bold steps to establish itself as a leader in the ESG space. The article highlights that Malaysia’s commitment to integrating digital innovation with ESG initiatives is clearly reflected in both its national policies and corporate practices.

14. I was pleased to read that Bursa Malaysia’s requirement, for publicly-listed companies to disclose their sustainability practices in their annual reports, was reflected in the article. In fact, the article also highlighted the Malaysia Centre4IR ESG Innovation Challenge.

15. It added that the initiative exemplifies how innovation and partnerships can drive significant progress towards sustainability. The Innovation Challenge will culminate with a Demo Day at Bursa Malaysia on November 7, where five of the most promising ideas will receive pilot project funding opportunities, and access to a network of industry leaders and investors.

16. Since 2023, MYCentre4IR has been closely collaborating with Bursa Malaysia, beginning with the involvement in Bursa Malaysia's Public Listed Companies Transformation (PLCT) Programme. This collaboration included the co-hosting of the #digital4ESG Roundtable Discussion with the World Economic Forum, where the focus was on exploring digital solutions for ESG challenges.

17. On the 1st of August 2024, MYCentre4IR announced the launch of the Malaysia Centre4IR ESG Innovation Challenge. The Innovation Challenge is in collaboration with Bursa Malaysia, and supported by the World Economic Forum’s UpLink platform. I was informed that UpLink has a community of over 75,000 startups and innovators. The platform has hosted over 60 innovation challenges with over 7,000 innovative solutions. The Malaysia Centre4IR ESG 6 Innovation Challenge will be the first UpLink challenge hosted in Southeast Asia.

18. I would also like to acknowledge and thank the anchor corporate partners in the Innovation Challenge – CJ Century Logistics Holdings Berhad, Globetronics Technology Berhad, Malayan Banking Berhad (Maybank), REDtone Digital Berhad, and Sunway Innovation Labs (Sunway Group) – for their participation and support.

19. These five corporations represent key sectors of Malaysia’s economy, each offering a unique perspective on ESG and the diverse opportunities it presents within their industries. I have been informed that MyDIGITAL Corporation will also be signing MoUs with the above five anchor corporate partners. The MoUs will include: i. working closely with corporate partners to uncover key challenges and pain points that startups can address and turn into actionable problem statements. ii. facilitate collaboration between the corporate partners and selected startups to align on business needs and identify synergies. iii. oversee the execution of proof of concept projects from start to finish. iv. drive awareness and participation in the programme through marketing, and communications efforts.

20. As a result of this innovation challenge, these corporations will implement a pilot project with their chosen startup. These projects will then be use cases from Malaysia that can be shared as examples locally, and abroad. Some of the focus areas for this innovation challenge range from integrating cutting edge technologies such as AI and Augmented Reality, to improving manufacturing efficiencies, and using digital solutions in waste management.

21. The response to this challenge has been encouraging, with participation from around the globe. We have received a total of 81 submissions from countries such as Singapore, India, Hong Kong, Sweden, Namibia, the US, the Philippines, Brazil, Italy, the UK, Canada, Pakistan, Australia, Germany, and Uganda, including 32 submissions from Malaysian startups. Submissions will close at the end of today.

22. In addition to the Innovation Challenge, the partnership between Bursa Malaysia and MyDIGITAL Corporation will also include sharing of knowledge and best practices regarding digitalisation on ESG efforts, and the publication of articles related to ESG and digitalisation.

23. This initiative will also provide a platform to develop collaborations between the Ministry of Digital, Bursa Malaysia and its listed companies.

24. As such, I urge more companies in Malaysia to integrate digital innovations to support environmental, social and governance practices. This will lead to data appreciation. Real-time, calculated decisions can help boost productivity, create greener spaces, and ensure better social wellbeing and governance. This will also help chart Malaysia’s journey to a net-zero future. Malaysia has set its sights on achieving carbon neutrality by 2050, as part of the 12th Malaysia Plan. Such initiatives will ensure we remain on track.

Ladies and gentlemen,

25. Bursa Malaysia’s Public Listed Companies Transformation (PLCT) programme and the Centralised Sustainability Intelligence (CSI) solution are both examples of initiatives that empower businesses with data driven insights and digital tools to help them start and achieve their digital transformation and ESG goals.

26. It is evident that the private sector is a key driver of our national digital agenda. Efforts taken by Bursa Malaysia will propel Malaysian companies to the next level.

27. Corporate innovation is one of the key enablers for Malaysia to advance in our digital journey. I hope that the use cases from this Innovation Challenge will inspire action from other corporations to take a step forward in their digital and ESG journeys. This would, eventually, have a ripple effect on the SMEs that are in their respective value chains.

28. I also look forward to future activities in capacity building and thought leadership between Bursa Malaysia and MyDIGITAL Corporation.

Ladies and gentlemen,

29. Our journey towards digitalisation is not merely about technology; it is about creating opportunities, empowering our youth, and driving economic growth in a way that benefits all Malaysians. Through strategic partnerships and forward-thinking policies, we are laying the groundwork for a future where Malaysia stands at the forefront of the global digital economy.

30. The road to digital transformation and sustainability is not an easy one. However, it is a journey that we must undertake with determination, resilience, and a spirit of collaboration.

31. On the subject of collaboration, I would like to highlight what our Prime Minister Dato’ Seri Anwar Ibrahim said at the Ninth Eastern Economic Forum in Vladivostok, Russia yesterday: “We are entering into an era where trade and technology are used as tools to consolidate the power base against the growing existential threat of climate change. Together, we should continue to cooperate, speak in a unified voice and exchange ideas, strategies and best policy practices to build a future of greater peace and prosperity.”

32. To conclude, I would like to once again express my heartfelt gratitude and congratulations to the MyDIGITAL Corporation, Bursa Malaysia, and the corporate partners of the Innovation Challenge for coming together to make this collaboration a reality. Together, we can build a brighter, more digital and more sustainable future for Malaysia.

Thank you -END-