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PETALING JAYA, RHB Bank Bhd has signed exclusive 20-year bancassurance and bancatakaful agreements with Tokio Marine Life Insurance Malaysia Bhd and Takaful Malaysia, in deals valued at up to RM1.62 billion. Under the agreements, RHB Bank will serve as the exclusive distributor of Tokio Marine Life’s conventional life insurance products. Meanwhile, its wholly owned subsidiary, RHB Islamic Bank Bhd, will distribute family and general takaful products offered by Syarikat Takaful Malaysia Keluarga Bhd (STMKB) and its subsidiary, Syarikat Takaful Malaysia Am Bhd. The parties have also entered into a framework agreement to outline the overall structure and coordination of the partnerships. In a filing with Bursa Malaysia, RHB stated that the RM1.62 billion access fee reflects the expected insurance and takaful business volume to be generated over the 20-year period, through both its branch network and digital platforms. “This includes projected sales of insurance and takaful products through physical branches and online channels, based on past performance and future growth projections,” the bank said. Proceeds from the access fee will be channelled towards working capital requirements and future growth plans. RHB added that the partnership will provide a strong upfront profit contribution, ensure long-term revenue stability, and allow further development of its operational and digital integration with its insurance partners. In a separate filing, STMKB noted that while the agreement is not expected to significantly impact earnings for the financial year ending Dec 31, 2025, it is expected to contribute positively to the group’s long-term profitability.

Hong Kong’s competition watchdog has accepted a set of commitments from China Mobile Hong Kong (CMHK) regarding its proposed acquisition of broadband provider HKBN Ltd, effectively allowing the merger to move forward without further investigation. Announced in December, the deal underwent a review by the Communications Authority under the Competition Ordinance due to concerns over its potential impact on market competition—particularly within the fixed local access network segment. To address these concerns, CMHK submitted a series of commitments last month. The authority then launched a consultation, inviting feedback from industry stakeholders and interested parties. One key issue raised during the process involved mobile backhaul infrastructure, which supports the transmission of data from mobile devices to broader networks. In response, CMHK revised its commitments to reflect industry input. Following the amendments, the authority concluded that the revised commitments adequately addressed competition concerns. It confirmed on Friday that the merger could proceed, noting CMHK’s active engagement to meet regulatory requirements.

KUALA LUMPUR, BWYS Group Bhd has signed a sale and purchase agreement with Yusin Machinery (Malaysia) Sdn Bhd to dispose of its industrial properties in Banting, Selangor, for RM67 million in cash. In a statement, the sheet metal products manufacturer and scaffolding supplier said the properties are situated in Kawasan Perindustrian Olak Lempit, spanning approximately 339,386 square feet of developed industrial land. BWYS Group Bhd managing director Kang Beng Hai The site includes three blocks of four-storey office buildings, three blocks of single-storey detached factory buildings, and an ancillary structure. BWYS expects to record a gain of about RM33.8 million from the sale, which will be reflected in its financial results for the year ending December 31, 2026. Managing director Kang Beng Hai noted that the assets were purchased in January 2019 for RM28 million, and the current deal presents a timely opportunity to realise substantial value from the investment. “The proceeds will support our ongoing operations and improve business efficiency. This strategic move enables us to reallocate resources to better align with our long-term growth plans,” he said. Out of the RM67 million proceeds, RM37.9 million will be used to repay bank borrowings, potentially saving the group RM1.1 million in annual interest. Another RM24 million is earmarked for raw material purchases and operational needs, while RM5.1 million is allocated for estimated disposal-related expenses. The transaction is expected to be completed in the first quarter of 2026, pending shareholders’ approval and relevant regulatory clearances.

KUALA LUMPUR, Fraser & Neave Holdings Bhd (FNHB) reported a net profit of RM84.81 million for the third quarter ended June 30, 2025 (3QFY2025), down from RM121.62 million in the same period last year. The drop in profit was mainly due to weaker earnings and unrecognised deferred tax assets related to losses from the group’s dairy farm operations, FNHB said in a filing with Bursa Malaysia. Revenue for the quarter also declined by 4.5% to RM1.24 billion, compared to RM1.30 billion a year ago. This was mainly driven by softer performance in its food and beverage segments in both Malaysia and Indochina, reflecting cautious consumer spending after festive seasons and fewer tourist arrivals in Thailand. However, strong double-digit growth in exports to other markets helped ease the impact, though shipments to Cambodia were disrupted by the Thailand-Cambodia border closure. Looking ahead, FNHB said it expects continued uncertainty across its key markets due to cautious consumer sentiment, rising costs, and geopolitical tensions. In response to the border issues, the group activated safety measures and rerouted exports to Cambodia via sea from Malaysia to maintain supply. FNHB added that it will continue to closely monitor the situation, refine its procurement and sales strategies, and focus on innovation and healthier product offerings to drive resilience.

TOKYO, Nintendo has sold over six million units of its new Switch 2 console in just seven weeks since its launch in June, signaling strong early demand for the device. Despite launching during ongoing global trade tensions, the Japanese gaming giant demonstrated effective supply chain management, with analysts saying the figures reflect high pent-up demand for an upgraded version of the original Switch. “This shows just how eager fans were for a next-generation Switch,” said Serkan Toto, founder of game consultancy Kantan Games. In its latest earnings report, Nintendo said it is sticking to its full-year sales forecast of 15 million Switch 2 units by March 2026. The Kyoto-based company also reported a 4% rise in operating profit to 56.9 billion yen (US$378 million) for the April–June quarter, beating analyst expectations. Nintendo noted that current U.S. tariff policies and market changes have not significantly affected its earnings outlook. The Switch 2 debuted on June 5 alongside major game titles such as Mario Kart World and an enhanced Legend of Zelda with improved graphics. During the quarter, Nintendo sold 8.67 million Switch 2 game units, with Mario Kart World frequently included in console bundles. The company also released Donkey Kong Bananza on July 17, which received a strong rating of 92/100 on Metacritic, earning widespread praise. “Nintendo should ride this strong momentum into the holiday season, especially with no competition from GTA 6 this year,” Toto added, referring to the delay of Grand Theft Auto VI to 2026, which was expected to boost rival consoles like Sony’s PlayStation 5. Nintendo’s shares fell 0.75% before the earnings release but are up about 33% so far this year. ($1 = 150.58 yen)