Kenangan Brands has introduced its 2030 sustainability targets, marking the start of the company’s eco-friendly operations. Meanwhile, moomoo, an investment platform owned by Hong Kong-based Futu Holdings, has expanded to Malaysia.
Kenangan Brands preps for IPO
Kenangan Brands, the Indonesian F&B group known for its coffee chain Kopi Kenangan, introduced its 2030 sustainability targets on Wednesday as it gears up for a public listing.
However, its Group CEO Edward Tirtanata said the company is yet to decide the timing and location for its initial public offering (IPO).
Tirtanata said Kenangan Brands is currently counting on its energy use, emission, plastic cups, and other consumptions to become a baseline for its 2030 targets.
By 2030, Kenangan Brands plans to have zero waste in landfill, reduce energy and emissions by 15%, reduce water use by 10%, and reduce plastic waste by 50%.
Kenangan Brands also introduced its corporate responsibility (CSR) efforts called Kenangan BAIK as part of its sustainability journey and contribution to the local community.
Kopi Kenangan, Kenangan Brands’ well-known coffee chain, is available in Indonesia and Malaysia. The brand is set to expand to at least one more country in Southeast Asia this year.
Moomoo expands Asia footprint
Hong Kong-based Futu Holdings announced its second Southeast Asia expansion this week by launching investment platform moomoo in Malaysia, according to a statement.
The wholly-owned Malaysian subsidiary has received the approval-in-principle (AIP) for the Capital Markets Services License from the Securities Commission Malaysia.
“We’re proud and excited to bring our one-stop platform, moomoo to Malaysia, the second SEA launch,” Robin Xu, a senior partner and senior vice president of Futu Holdings Limited, said in the statement.
Tencent-backed Futu has marketed moomoo to Generation Z, guiding the young generation into the world of investments through its user-friendly platform.
Futu Holdings has expressed its eagerness to tap into new markets in Asia since 2022. Meanwhile, moomoo is already available in the US, Singapore, Hong Kong, and China.