| | FEBRUARY 20248IN FOCUSUMW Toyota Motor Sdn Bhd (UMW Toyota) has introduced its Beyond Zero initiative, in line with Toyota's worldwide endeavor to achieve Carbon Neutrality by 2050. Held at Technology Park Malaysia, Bukit Jalil, the event highlights innovative initiatives demonstrating the brand's dedication to sustainable and environmentally friendly practices.Acknowledging the imperative for Malaysia's transition to sustainable energy, Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz emphasized the country's motivation stemming from international pledges, as well as the opportunities for economic expansion and enhanced energy stability."Malaysia, being recognized as the best country in Southeast Asia in the Energy Transition Index 2023 by the World Economic Forum, is on the right track to becoming a regional leader in the energy transition. Toyota's innovative efforts in clean energy, through its diverse approach, align seamlessly with our national goals", he said in a statement. On another note, Datuk K. Ravindran, President of UMW Toyota, underscored the importance of acknowledging Malaysia's distinctive automotive industry landscape, which positions it as a key hub for electrical and electronics manufacturing in Southeast Asia. This recognition is vital for appropriately situating the group in this trajectory.The symbolic launch of the Beyond Zero event aims to spotlight a diverse array of electrified technologies, encompassing hybrid EVs (HEVs), battery EVs (BEVs), and fuel cell EVs. These vehicles epitomize the forefront of automotive sustainability, integrating cutting-edge technologies and design features geared towards mitigating environmental impact. With a track record of proven reliability on Malaysian roads since 2009 and globally since 1997, UMW Toyota has successfully marketed 41,600 HEVs since 2009, resulting in commendable decarbonization effects equivalent to the absorption of approximately 150,000 tons of carbon dioxide, akin to the impact of 500,000 trees. Union Insurance Company has named Ramez Zaid as CEO to spearhead the company's strategic expansion. Mr. Zaid, an experienced insurance industry veteran, became part of Union Insurance in July 2023 as a board member and later assumed the role of acting CEO on December 1, 2023. With more than thirty years of experience in the insurance sector, Mr. Zaid brings a wealth of expertise to his new position.He said, "Together with the company's qualified and dynamic team, I am confident of delivering on our strategic objectives and capitalizing on new opportunities. I look forward to achieving significant milestones in the company's growth journey".An advocate for advancing digitalization, enhancing customer experiences, and broadening the scope of insurance operations, Zaid has held leadership positions at various insurance firms prior to joining Union Insurance. With a tenure of over 25 years at Dubai National Insurance and Reinsurance Company, he has actively contributed to the industry. Additionally, he served as a board member of the Emirates Insurance Association, participated in the High Technical Committee, and chaired both the Motor and Legal Committees.Zaid has garnered recognition for his significant contributions to the insurance sector, receiving numerous accolades. He was honored as one of the Top 10 CEOs in the Gulf and MENA region for both 2018 and 2019. Additionally, he received an award from the Insurance Authority in 2020 for his personal achievements in advancing the insurance industry. Furthermore, he was acknowledged by the Dubai Chamber of Commerce for his involvement in shaping the UAE's new insurance law.Possessing a bachelor's degree in law, Ramez is a registered authorized arbitrator at the Sharjah International Commercial Arbitration Centre. Founded in 1998 and publicly listed on the Abu Dhabi Securities Exchange, Union Insurance boasts a paid-up capital exceeding AED330m ($90m). The company offers an extensive array of individual and commercial insurance solutions and caters to clients across the UAE and the broader Middle East region. UMW TOYOTA LAUNCHES BEYOND ZERO INITIATIVE FOR CARBON NEUTRALITYUNION INSURANCE COMPANY NAMES RAMEZ ABOU ZAID AS NEW CEO
< Page 7 | Page 9 >