,TNB president and CEO Datuk Baharin Din says the group targets to double its RE capacity to 8,300MW by 2025 from 3,400MW currently. Its current RE capacity in the international market is only 666MW. Corporate News Short Position - Top Glove, OPR, economy The process to get the ban lifted was arduous and costly, but eventually had to be done in order to rectify not only the image of a top rubber glove company in the country but also that of companies in Malaysia. Top Glove was not the only company that has been hit by an import ban by the US for what it perceives as labour standards and practices that do not meet its mark. With other companies now having issues with the US government over labour practices, the treatment of foreign labour is now a focus of not only governments but also investors. TNB’s ambitious green energy plans TNB president and CEO Datuk Baharin Din says the group targets to double its RE capacity to 8,300MW by 2025 from 3,400MW currently. Its current RE capacity in the international market is only 666MW. While he declines to comment on the amount of capex that TNB is allocating for its RE plans, he reveals that the amount “would be substantial” as TNB aims to add 20GW by 2050 to its RE portfolio. He points out that TNB is looking into the European market for RE assets, as the industry is more mature there. For perspective, currently, coal is the main fuel used in TNB's power generation, accounting for almost 50% of the fuel mix. Property Making good progress The property sector has reported improving business operations and construction progress, as the lockdown eases and vaccination rate among workers in the sector continue to rise. While the sector had reported a healthy performance for the first half of the year (H1'21), the brokerage noted the recovery in H2'21 could be weighed by disruptions caused by the national lockdown, cautious bank lending and soft consumer sentiment. In its report, AmInvestment Bank Research explained that property sector could see a slowdown in recovery in H2'21, as the tighter Covid-19 containment measures, which took effect in June, have led to closure of sales galleries and halted property construction activities, which delayed the recognition of progress billings. Semiconductors Malaysia to increase efforts to address semiconductor backlog orders Malaysia is doing its best to reduce the backlog of orders in the semiconductor industry due to the disruption of operations in the past 12 months, following the imposition of lockdowns to curb the COVID-19 pandemic. The lockdowns saw many factories in Malaysia and other countries suspending their operations or operating in limited capacities. president Datuk Seri Wong Siew Hai said as Malaysia plays a significant role in the global semiconductor supply chain, it is critical to expand the sector's capacity in light of the severe global shortage of ICs.
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