To Represent Malaysia at the ASEAN Energy Awards 2023
KUALA LUMPUR, MALAYSIA 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.
