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Ryt Bank has reached 1.2 million users since its launch in August 2025, driven by strong growth in transactions and everyday banking activity. The digital bank has processed over 25 million transactions to date, with monthly volumes surging more than 35 times since its debut. Bill payments have also climbed sharply, rising over tenfold in recent months, while card usage continues to grow as more customers use the Ryt Card for daily spending such as groceries, dining and essentials. Nearly half of its users have adopted Ryt AI, a feature developed with YTL AI Labs using Ilmu, Malaysia’s sovereign AI model. The tool enables users to perform tasks like transfers and bill payments through simple prompts within the app. Adoption spans across all age groups, including those aged 50 and above, with users of Ryt AI returning to the app nearly twice as often as non-users. The bank is also seeing increased traction for its Ryt PayLater feature, which offers instant credit of up to RM1,499. Usage has been largely focused on essential expenses such as groceries, fuel and bills rather than discretionary spending. A significant portion of Ryt Bank’s customer base comes from underserved and unserved segments, in line with its goal of expanding access to financial services and short-term credit. Interim CEO Wilson Soon said the milestone reflects growing acceptance of a more intuitive and accessible approach to banking among Malaysians. Looking ahead, Ryt Bank plans to roll out Ryt PayLater on Card, allowing users to choose between immediate or deferred payments using a single card. It is also preparing to launch Ryt Invest, enabling users to invest directly through the app. The update comes as Malaysia’s five digital banks collectively reached 2.4 million users by end-2025, with around 65% from underserved and unserved groups, according to Bank Negara Malaysia.

Southeast Asia Payment Methods in 2026: A Simple Guide Southeast Asia is often grouped together, but each country has its own unique payment habits shaped by culture, regulations, and local players. Across the region, one thing is clear — digital payments are growing rapidly, especially through QR codes, digital wallets, and bank transfers. From small shops in Indonesia to street vendors in Bangkok and hawker stalls in Singapore, paying with a phone has become increasingly common, replacing cash and cards in many cases. According to the Global Payments Report 2026, digital payment methods such as wallets, buy-now-pay-later (BNPL), and account-to-account (A2A) transfers could make up 46% of global in-store payments by 2030. How Payments Differ Across Southeast Asia Singapore: Digital Wallets Take the Lead Singapore has become a leader in digital payments. Digital wallets now make up the largest share of in-store payments, overtaking debit cards in 2025. Popular options include GrabPay, ShopeePay, PayNow, Apple Pay, and Google Pay. Cards are still widely used, especially for online transactions, but digital wallets are growing quickly. Malaysia: QR Payments Driving Growth Malaysia is seeing strong growth in digital payments through DuitNow and DuitNow QR. Cash usage is declining, while digital wallets like Touch ’n Go, Boost, GrabPay, and ShopeePay are gaining traction. Bank transfer systems like FPX also remain important for online payments. Philippines: Digital Growth, But Cash Still Dominates The Philippines has a mix of digital and cash payments. While digital wallets like GCash, Maya, and ShopeePay are widely used, cash still accounts for a large share of transactions, including cash-on-delivery for online purchases. This is partly due to a large unbanked population, though digital adoption continues to rise. Indonesia: Fast Shift to Digital Payments Indonesia is seeing one of the fastest moves away from cash. Systems like QRIS and BI-FAST have helped drive adoption of digital wallets such as GoPay, DANA, and OVO. Cash use has dropped significantly, especially in cities. Thailand: Bank Transfers Lead Thailand stands out for its strong use of account-to-account payments, driven by PromptPay. This method dominates both online and in-store payments. Digital wallets like TrueMoney and LINE Pay are also used, while cash remains more common outside urban areas. Vietnam: Rapid Growth in QR Payments Vietnam’s payment market is growing quickly, especially through QR code systems like VietQR. Digital wallets such as MoMo, ZaloPay, and ShopeePay are popular, while global players like Apple Pay are expanding. Cash is still used, but digital adoption is accelerating. Key Trends Across the Region Digital wallets are rising quickly QR code payments are becoming standard Bank transfers (A2A) are expanding across markets Cash is declining, but not disappearing Each country follows a different pace and path Bottom Line Southeast Asia’s payment landscape is diverse but moving in the same direction — towards digital-first transactions. For businesses, understanding each country’s preferred payment methods is crucial, as there is no one-size-fits-all approach in this region.

KKR & Co’s Japan real estate arm is planning a major expansion in acquiring properties being divested by companies, targeting a market it estimates to be worth around ¥450 trillion (US$2.8 trillion). The unit, KJRM Holdings, sees strong opportunities as Japanese firms increasingly offload non-core assets, including real estate, amid pressure from policymakers and investors to improve capital efficiency. Its president, Naoki Suzuki, said demand for such disposals is expected to remain robust over the next three to five years. Fuji Soft Inc signage seen on the company’s headquarters building in Yokohama, Japan on Dec 24, 2024. KJRM’s real estate portfolio grew 20% to about ¥2.53 trillion in 2025, placing it among the largest in Japan. The firm plans to further ramp up acquisitions of corporate divestment assets, although specific targets were not disclosed. The push comes as the Tokyo Stock Exchange continues efforts to enhance shareholder returns, prompting companies to monetise underutilised property holdings. Historically, Japanese firms have maintained relatively high real estate exposure, with property accounting for about 12.6% of total assets — higher than in the US and UK. KJRM Holdings’ president Naoki Suzuki. Suzuki noted that global investors are increasingly drawn to Japan’s property market due to its size, liquidity and relatively stable risk profile, particularly as geopolitical concerns dampen appetite for Chinese assets. He added that unless government bond yields rise sharply to around 3.5%–4%, the real estate sector is unlikely to face significant pressure from higher borrowing costs. In recent years, more than half of the assets acquired by KJRM-managed REITs and private funds came from corporate disposals. These include the purchase of 14 office buildings from Fuji Soft Inc for about ¥68.7 billion, as well as over ¥200 billion worth of real estate tied to KKR’s acquisition of Logisteed Ltd in 2023. While risks such as rising interest rates and property price fluctuations remain, Suzuki said rental growth could help offset higher costs. Moving forward, KJRM will focus on assets that are resilient to inflation and capable of generating stable cash flow, particularly in major cities such as Tokyo, Osaka and Nagoya.

CapitaLand Investment (CLI) has raised US$320 million (S$403 million) for its second Asia-Pacific real estate credit fund, CapitaLand Asia Pacific Credit Programme II (ACP II). The latest fund marks the second vehicle under the Temasek-linked group’s flagship real estate credit strategy. Following its final close, ACP II has added around US$600 million to CLI’s total funds under management. The fund attracted capital from a mix of new and existing investors across the Asia-Pacific region, including insurers, financial institutions and family offices. CLI has also committed 20% as a sponsor stake in the fund. According to Kishore Moorjani, CEO of alternatives, private funds at CLI, the fund’s strategy focuses on senior secured, asset-backed investments, positioning it more defensively amid broader credit market challenges. The group also aims to further scale its asset-light fund management platform. ACP II has already been deployed into five first mortgage loans, backing logistics, office and residential assets in key markets such as Sydney and the Seoul Metropolitan Area. The fund follows the successful exit of CLI’s first credit programme (ACP I), which invested A$265 million across two mixed-use developments in Melbourne and Adelaide.

Cargo freighter operator MJets Air Sdn Bhd (MJets), a 99%-owned subsidiary of MMAG Holdings Bhd, is scaling down its operations by 45% starting this month as part of cost containment efforts amid mounting financial pressure. In an internal memo, MJets described the move as a “prudent step to preserve resources and maintain operational stability”, citing rising fuel costs, geopolitical uncertainties and weaker charter demand as key challenges affecting the aviation sector. Effective April 6, the company has implemented salary adjustments and introduced voluntary leave-without-pay schemes as part of its restructuring measures. MJets plays a key role in MMAG’s aviation segment, although the group has recently come under scrutiny following reports that its bank accounts had been frozen since late last year. NexG Holdings Bhd is also a shareholder in MMAG, holding a 9.48% stake. Financially, MJets has been under strain. For the financial year ended Sept 30, 2024, the company recorded a net loss of RM67.62 million on revenue of RM370.78 million. It has only reported a single profitable year over the past five years. As at end-September 2024, MJets had total liabilities of RM479.62 million, exceeding its total assets of RM413.78 million, with accumulated losses amounting to RM151.84 million. Despite the challenges, MMAG had continued to invest in the aviation unit. Less than six months ago, shareholders approved the acquisition of a Boeing 737-800 converted freighter for US$25.9 million (RM109.85 million), which is to be leased to MJets under an intra-group arrangement. MMAG first acquired an 80% stake in MJets in November 2020 for RM21.36 million, aiming to capitalise on surging e-commerce demand during the pandemic. The stake was later increased to approximately 98.57% through a capitalisation exercise. While MJets had secured an Air Operator’s Certificate from the Civil Aviation Authority of Malaysia in 2021, enabling it to operate cargo and charter services across Malaysia and Southeast Asia, the business has yet to deliver consistent profitability. The company has also faced operational and legal challenges, including past investigations and a countersuit filed by former stakeholders related to the acquisition and restructuring of the business. At the group level, MMAG reported a net profit of RM32.18 million for the 15-month period ended Dec 31, 2025, on revenue of RM1.15 billion, although its longer-term track record remains impacted by years of losses. The latest cost-cutting measures at MJets highlight ongoing efforts by MMAG to stabilise its aviation operations amid a challenging industry environment.