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Energy & Technology

NexG Establishes MyNasional Holdings as AI and Data Intelligence Division

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KUALA LUMPUR, NexG Bhd has announced the establishment of MyNasional Holdings Sdn Bhd, a new wholly owned subsidiary that will serve as the group’s dedicated artificial intelligence (AI) and data intelligence division. The initiative aligns with Malaysia’s Digital Economy Blueprint and the national MyDigital ID roadmap. In a statement on Friday, NexG said MyNasional Holdings is set to play a key role in supporting the government’s digitalisation agenda by providing secure, intelligent, and interoperable digital solutions across both public and private sector ecosystems. The new entity will focus on three core areas: Digital identity and eKYC (electronic Know Your Customer) verification Business data and corporate intelligence AI and smart analytics solutions To drive innovation, NexG will also establish MyNasional AI, a specialised unit under the new subsidiary, which will lead the development of next-generation AI technologies. These include behavioural analytics, intelligent screening systems, public safety forecasting, and smart city infrastructure solutions such as automated surveillance, digital traffic control, and data-driven resource management. As Malaysia moves towards becoming a digitally connected and AI-enabled nation, MyNasional AI is positioned to support inter-agency digital transformation while offering scalable models for smart cities, automated public services, and export-ready AI solutions for the regional market. NexG – Deputy Chairman Tan Sri Mohd Khairul Adib Abd Rahman NexG Deputy Chairman Tan Sri Mohd Khairul Adib Abd Rahman said the launch of MyNasional Holdings represents a foundational step in building Malaysia’s next-generation digital trust infrastructure. “Through platforms spanning eKYC, business intelligence, and AI innovation, we aim to accelerate public service delivery, strengthen digital resilience, and foster inclusive growth for all Malaysians,” he said.

Energy & Technology

Petrobras May Send More Oil to Asia After U.S. Tariff, Says CEO

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RIO DE JANEIRO, Brazil’s state oil company Petrobras is considering shifting some of its oil exports away from the United States and towards Asia and Pacific markets, following the U.S. government’s decision to impose higher tariffs on Brazilian imports, CEO Magda Chambriard told Reuters on Thursday. While oil and gas make up a large portion of Brazil’s exports to the U.S., Chambriard said the American market is not critical to Petrobras. “We don’t export that much to the U.S. Overall, we’re not too concerned,” she said, addressing the 50% tariff announced last week by U.S. President Donald Trump—her first public comments on the matter. In the first quarter of 2025, U.S. exports made up only 4% of Petrobras’ total oil shipments. Analysts say that if Brazil stops sending oil to the U.S., the impact on both sides would likely be minimal. According to consultancy StoneX, Brazil supplied less than 3% of U.S. oil consumption so far this year. There is still some uncertainty over whether the new tariffs—set to take effect August 1—will apply to crude oil, which had previously been excluded from Trump’s 10% tariff hikes. In terms of refined oil products, 37% of Petrobras’ exports—roughly 209,000 barrels per day—went to the U.S. in the first quarter, though analysts believe that volume could be redirected to other markets without significant disruption.

The Executives

TH Plantations CEO Put on Leave Over RM5 Million Payouts; CFO Steps Down

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KUALA LUMPUR, TH Plantations Bhd has placed its Chief Executive Officer (CEO), Mohamed Zainurin Mohamed Zain, on garden leave following a show cause letter issued over alleged unauthorised payments totaling RM5.1 million made to plantation workers. In a filing with Bursa Malaysia, the company stated that the CEO’s leave is effective immediately and will remain in place until further notice. Simultaneously, the company’s Chief Financial Officer (CFO), Marliyana Omar, who also received a show cause letter on the same day, has resigned with immediate effect. In a separate filing, TH Plantations noted that Marliyana’s resignation was voluntary. Marliyana, 44, joined the group in 2009 as an assistant manager and rose through the ranks to head the finance division, where she was responsible for planning and managing the group’s financial operations. Despite these leadership changes, TH Plantations assured stakeholders that business operations will continue without disruption. In the interim, the Board Executive Committee will assume the responsibilities of the CEO.

Lifestyle

BMW Asia Celebrates SG60 and BMW40 with Special i7 eDrive50 Singapore Icons Edition

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BMW Asia has introduced a special edition of its all-electric luxury sedan, the i7 eDrive50 Singapore Icons Edition, to commemorate two major milestones: Singapore’s 60th anniversary of independence (SG60) and BMW’s 40 years in the country (BMW40). This unique vehicle captures the spirit of Singapore through its bespoke design and craftsmanship, reflecting both national pride and BMW’s commitment to innovation and individuality. Finished in a striking Madeira Red, a custom paint inspired by Singapore’s cultural heritage, the car features a multi-layered pearlescent effect that changes tone under different lighting. Complementing the exterior are 21-inch custom-designed multi-spoke wheels with a two-tone finish, adding elegance and a strong road presence. Inside, the i7 is fitted with Smoke White Merino leather upholstery, chosen to reflect the red and white of the Singapore flag. A standout interior detail is the dashboard inlay, showcasing seven iconic Singapore landmarks including Marina Bay Sands, Gardens by the Bay, and the Merlion—paying tribute to the nation’s identity. Lars Nielsen, Managing Director of BMW Group Asia, described the car as “a celebration of icons, and an icon in itself.” He said, “This exceptional vehicle celebrates a nation whose journey to excellence mirrors BMW’s own story in Singapore—one built on strong leadership, innovation, and ambition.” The car has already been sold to Mr. Choo Wai Luen, owner of Kwong Cheong Thye Pte. Ltd., who purchased it in celebration of his company’s 133rd anniversary. “Every time I look at this masterpiece, I’m reminded of how far we have come as a nation, and how far my family and I have come in building our business,” Mr. Choo shared.

Property

PTT Synergy Buys Land in Rawang for RM60 Million to Build Warehouse

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KUALA LUMPUR, PTT Synergy Group Bhd has announced plans to acquire 4.56 hectares of freehold land in Rawang, Selangor, for RM60 million to develop a commercial warehouse featuring an automated storage and retrieval system (ASRS). In a filing with Bursa Malaysia, the construction group said the single-storey industrial facility will be leased to a third party upon completion. The project is expected to generate RM22.2 million in annual rental income. The land, divided into eight parcels, is being purchased by PTT Logistics Hub 2 Sdn Bhd, a wholly owned subsidiary focused on renting and operating ASRS-equipped warehouses. The seller is Koperasi Kakitangan Bank Rakyat Bhd. PTT noted the acquisition price represents a slight discount from the market value of RM62.32 million, as appraised by independent valuer City Valuers & Consultants Sdn Bhd. The purchase will be fully funded through a mix of internal funds and bank borrowings. The group expects to spend RM270 million on the warehouse development, which will be financed similarly. Construction is scheduled to begin on July 31 and is targeted for completion within 18 months. PTT anticipates finalising the land deal within four months. Shares of PTT Synergy closed 2.42% higher at RM1.27 on Friday, bringing its market capitalisation to RM548.85 million. The stock has gained over 12% year-to-date.

Investment & Market Trends

Apollo Secures Bid for Singapore’s US$1 Billion Private Credit Fund

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SINGAPORE, Apollo Global Management has been awarded the mandate to manage Singapore’s S$1 billion (US$778.3 million) Private Credit Growth Fund, which targets high-growth local enterprises, according to information published on a government procurement portal. Launched in March by the Ministry of Trade and Industry (MTI) and Enterprise Singapore, the fund aims to provide non-dilutive and customised financing to support the expansion of local enterprises with strong growth potential. Further details about the fund are expected to be announced in the third quarter of this year. First introduced during the national Budget 2024 speech, the Private Credit Growth Fund forms part of Singapore’s broader efforts to strengthen its position in the US$1.7 trillion global private debt market. The fund seeks to address financing gaps for local businesses while fostering a more vibrant and diversified capital market landscape. The move complements other private market initiatives, including the Monetary Authority of Singapore’s (MAS) consultation in March on a proposed regulatory framework aimed at opening private market access to retail investors—subject to adequate investor protection measures. In parallel, Temasek Holdings, Singapore’s sovereign wealth fund, has also deepened its involvement in the asset class. In December, it launched a private credit platform with an initial portfolio of approximately US$10 billion in direct investments and credit funds. Additionally, Temasek’s subsidiary SeaTown Holdings International raised US$1.3 billion last year for its second private credit fund. The appointment of Apollo—renowned for its expertise in alternative investments—signals a major step in advancing Singapore’s ambitions to become a regional hub for private credit and alternative financing.

Property

Sunway Marketing Unveils RM10 Million Zeekr Space and Service Centre in Sunway City

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KUALA LUMPUR, Sunway Marketing Sdn Bhd, the appointed dealer partner of Zeekr Malaysia, has officially launched Zeekr Sunway, a flagship facility featuring both a Zeekr showroom and service centre in the heart of Sunway City, Kuala Lumpur. In a statement today, Sunway Marketing announced that the Zeekr Space Sunway City and Zeekr Sunway Service Centre were developed with a combined investment of over RM10 million. The launch aims to deliver a comprehensive and elevated ownership experience for both prospective customers and existing Zeekr owners in Malaysia. Strategically located along Persiaran Lagoon, the 11,100-square-foot Zeekr Space occupies the former site of Sunway City’s iconic helipad. The premium showroom showcases six display bays featuring the latest Zeekr models, including the Zeekr X and Zeekr 009. Two dedicated delivery bays are also available for customers to celebrate and document the handover of their new vehicles. Designed with customer comfort in mind, the facility includes a premium lounge, dedicated discussion areas with sales and product specialists, and four alternating current (AC) EV charging stations. Plans are also underway to add direct current (DC) charging infrastructure in the near future. Yeoh Yuen Chee, Chief Executive Officer of Sunway Trading and Manufacturing, described the launch as a significant step forward for both the Zeekr brand and Sunway City. “This marks more than just the expansion of our automotive portfolio. The simultaneous launch of Zeekr Space and Service Centre underscores our commitment to delivering a seamless, sustainable, and premium ownership experience for Zeekr’s New Energy Vehicles (NEVs), both within Sunway and across the broader Malaysian market,” he said.

The Executives

RHB Bank Sees Singapore Unit as Key to Regional Growth Plans

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SINGAPORE, RHB Singapore, a key subsidiary of Malaysia’s fourth-largest banking group, is set to play a central role in driving the group’s regional expansion and achieving key financial targets, including a return on equity (ROE) of 12% by 2027, a senior executive said on Friday. Singapore’s favourable tax environment, political stability, and status as a gateway to Southeast Asia continue to attract ultra-high-net-worth investors and financial institutions, reinforcing its position as a leading regional financial hub. RHB group managing director and CEO Datuk Mohd Rashid Mohamad To further strengthen its presence, RHB Singapore appointed Goh Ken-Yi as CEO earlier this year, with a focus on enhancing digital capabilities and delivering innovative financial solutions. RHB Singapore recorded strong financial performance in 2023, with pretax profit surging 95.6% year-on-year to S$98.7 million (US$76.82 million). “RHB Singapore’s outstanding performance reflects the forward momentum we aim to replicate across all our key markets,” said RHB Group Managing Director Datuk Mohd Rashid Mohamad during a press briefing. Beyond Singapore, RHB maintains a regional presence with operations in Cambodia, Thailand, Laos, and Brunei. According to its 2024 Annual Report, the Group achieved an ROE of 10.04% in 2023. It now targets reducing its cost-to-income ratio to below 44.8% and its gross impaired loans ratio to under 1.3% by 2027—improving from last year’s 46.7% and 1.47%, respectively.

Investment & Market Trends

CIMB and Pharmaniaga Forge Strategic Alliance to Strengthen Financial Flexibility for Healthcare SMEs

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KUALA LUMPUR, CIMB Bank Berhad has entered into a strategic collaboration with Pharmaniaga Logistics Sdn Bhd, a wholly owned subsidiary of Pharmaniaga Berhad, to enhance supply chain financing and improve payment flexibility for small and medium enterprises (SMEs) in the healthcare industry. This partnership is set to benefit clinics, pharmacies, and medical suppliers by offering greater financial agility, CIMB announced in a statement today. (From left) Gurdip Singh Sidhu, Chief Executive Officer, CIMB Malaysia and CIMB Bank Berhad, Lawrence Loh, Co-Chief Executive Officer, Group Commercial and Transaction Banking, CIMB Group, Ahmad Shahredzuan Mohd Shariff, Chief Operating Officer, Pharmaniaga Bernad and Zulkil Jatar, Managing Director, Pharmaniaga Berhad at the Mou signing to enhance supply chain financing and payment flexibility for healthcare SMEs, including clinics, pharmacies and medical buyers. Under the collaboration, CIMB and Pharmaniaga will offer flexible payment solutions to downstream buyers—including private clinics and independent pharmacies—through the CIMB SME BusinessCard. Cardholders will enjoy extended credit terms of up to 50 days on medical supply purchases, alongside an unlimited 0.5% cashback on all transactions made with Pharmaniaga. These benefits aim to optimise working capital and improve cash flow for healthcare providers. Lawrence Loh, Co-CEO of Group Commercial and Transaction Banking at CIMB Group, said the initiative is designed to ease the financial burden faced by healthcare SMEs while enabling them to deliver better patient care. “Through extended credit terms and early settlement incentives, we are supporting clinics, pharmacies, and other healthcare buyers in managing operational costs more effectively,” he said. “This collaboration reflects our commitment to expanding our healthcare SME portfolio by working closely with ecosystem partners and providing tailored, digital-first financing solutions.” Pharmaniaga Managing Director Zulkifli Jafar echoed these sentiments, emphasising the company’s dedication to supporting its partners with practical financial tools. “This partnership underscores our ongoing commitment to strengthening our supply chain ecosystem,” he said. “By offering enhanced payment flexibility and customised financing, we aim to empower our partners to grow sustainably while ensuring consistent access to essential pharmaceutical products.” The collaboration marks a significant step toward improving financial resilience and operational efficiency within Malaysia’s healthcare SME sector.

Events

Labuan SMEs Step into the Digital Era with TikTok Shop Workshop

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LABUAN, The digital economy took the spotlight on the duty-free island of Labuan today as 80 local entrepreneurs participated in a full-day TikTok Shop Workshop, organised by the SME Association of Labuan. According to Jefery Tan, President of the SME Association of Labuan, the initiative was aimed at equipping micro, small, and medium enterprises (SMEs) with the knowledge and tools to enhance their digital presence, drive sales, and grow their businesses using TikTok Shop. “Organised in collaboration with TikTok Shop Malaysia, this workshop aligns with the association’s broader mission to support the government’s nationwide push towards SME digitalisation,” he said in a statement. “Digital transformation is no longer optional—it is essential. This workshop offers local entrepreneurs practical strategies to market and sell their products effectively using the TikTok Shop platform.” Throughout the day, participants engaged in interactive sessions covering account setup, content creation, and tailored e-commerce strategies—specifically designed to meet the unique challenges of small businesses with limited resources. “This isn’t just about going viral—it’s about empowering small business owners to expand their customer base, strengthen their brand visibility, and increase revenue through accessible, modern digital tools,” Jefery added. He further affirmed the association’s commitment to delivering more programmes that empower local SMEs with vital digital capabilities and pave the way for long-term growth in an increasingly digital marketplace.

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