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Investment & Market Trends

MPOB Sees CPO Prices At RM4,000–RM4,300 Per Tonne

The Malaysian Palm Oil Board (MPOB) expects crude palm oil (CPO) prices to remain strong at between RM4,000 and RM4,300 per tonne this year, supported by higher global petroleum prices. Its director-general Datuk Dr Ahmad Parveez Ghulam Kadir said palm oil prices are expected to stay firm, driven by movements in global oil markets following tensions in the Strait of Hormuz. “Looking at the current situation, palm oil prices have remained strong, and for this year we are targeting an average price of between RM4,000 and RM4,300 per tonne,” he said at a press conference after the MPOB 2026 Palm Oil Technology Transfer (TOT) Programme. He explained that disruptions in the Strait of Hormuz have affected global petroleum supply, which has in turn lifted prices of palm oil and other vegetable oils due to their close price relationship. On supply conditions, Ahmad Parveez said the industry is also facing potential production constraints due to the lingering effects of the El Niño phenomenon, which has impacted oil palm pollination. “We are monitoring the potential post-El Niño effects, which bring hotter weather and lower rainfall,” he said. “The impact is not immediate, but it affects pollination activities carried out by oil palm weevils. Hotter conditions reduce insect activity, leading to lower pollination rates and ultimately reduced oil yields.” On the European Union Deforestation Regulation (EUDR), he said more than 80% of smallholders in Peninsular Malaysia are already prepared to comply with the requirements. He added that MPOB is targeting 90% to 95% of eligible smallholders with valid licences and clear land ownership to be included in its compliance system before the regulation takes effect for smallholders in the middle of next year. “Once incorporated into the system, their palm oil will be able to enter the European Union market without compliance issues,” he said.

Investment & Market Trends

Public Mutual Declares RM96mil+ In Distributions Across Five Funds

Public Mutual, a wholly-owned subsidiary of Public Bank Bhd, has declared total distributions amounting to more than RM96 million for five of its funds for the financial year ended June 30, 2026. In a statement, the unit trust manager said the distributions reflect the performance of its fixed income and income-focused funds over the period under review. Among the funds, the PB Islamic Bond Fund led with a gross distribution of 5.50 sen per unit. This was followed by the PB Infrastructure Bond Fund at 5.00 sen per unit, and the PB Fixed Income Fund at 4.50 sen per unit. Meanwhile, the Public Institutional Bond Fund declared a distribution of 0.90 sen per unit, while the Public Islamic Savings Fund recorded a payout of 0.10 sen per unit. Public Mutual noted that the PB Islamic Bond Fund, PB Infrastructure Bond Fund, PB Fixed Income Fund, and Public Institutional Bond Fund follow an annual distribution policy. In contrast, the Public Islamic Savings Fund distributes income on a semi-annual basis, providing investors with more frequent payout cycles. The group said the latest distributions underscore its continued focus on delivering consistent returns through a diversified range of fixed income and savings-oriented investment solutions, catering to both retail and institutional investors. Public Mutual currently manages more than 180 unit trust funds across various asset classes and investment strategies. It is also an approved Private Retirement Scheme (PRS) provider, managing nine PRS funds nationwide, further strengthening its position as one of Malaysia’s largest private unit trust managers.

Energy & Technology

Critical Holdings Secures RM772mil Contract From Multinational Client

Critical Holdings Bhd has secured an engineering, procurement and construction (EPC) contract worth RM772.49 million for the development of a state-of-the-art industrial facility at Kulim Hi-Tech Park in Kedah. In a filing with Bursa Malaysia, the group said the project involves the construction of a high-technology automated storage and retrieval system (ASRS) warehouse, along with supporting infrastructure for a major industrial development within the park. The contract was awarded by a “renowned US-based multinational corporation” that supplies wafer fabrication equipment and related services to the global semiconductor industry. The company said construction works are scheduled to commence on June 15, 2026, with completion targeted for Dec 15, 2027. According to Critical Holdings, the project is expected to contribute positively to the group’s earnings and net assets for the financial years ending June 30, 2027, and June 30, 2028, reflecting the project’s scale and execution timeline. The latest win further strengthens the group’s order book position, which currently stands at approximately RM1.06 billion, providing greater earnings visibility over the medium term. The contract also reinforces Critical Holdings’ exposure to the fast-growing semiconductor ecosystem in Malaysia, particularly in high-value industrial infrastructure development supporting global technology supply chains.

ESG

PAAB Unveils Blue Sukuk Sustainable Islamic Financing Framework

Pengurusan Aset Air Bhd (PAAB) has launched Malaysia’s first sustainable Islamic financing framework incorporating Blue Sukuk principles, marking a significant step towards expanding sustainable funding for the country’s water infrastructure sector. The framework is designed to channel Shariah-compliant capital into water-related projects while supporting Malaysia’s long-term water security and sustainability agenda. It also paves the way for a potential Blue Sukuk issuance of up to RM500 million, subject to regulatory approvals and market conditions. Speaking at the launch, PAAB chairman Datuk Seri Ir Jaseni Maidinsa said the initiative builds on the organisation’s longstanding role in strengthening Malaysia’s water services industry through financing and debt restructuring. He noted that one of PAAB’s earliest priorities was addressing the heavy debt burden faced by state water operators, many of which were constrained by federal government loans and commercial borrowings that limited their ability to invest in new infrastructure and improve service delivery. To support the national water restructuring agenda, PAAB assumed RM23.04 billion in legacy water-related debt involving 10 migrated state water operators. The exercise comprised RM7.96 billion in federal government loans and RM15.08 billion in commercial borrowings. According to Jaseni, the restructuring provided significant financial relief, strengthened the financial position of water operators and enabled them to focus on improving operational efficiency, service quality and infrastructure development. As of Dec 31, 2025, PAAB had committed a total investment of RM46.88 billion to Malaysia’s water services industry. These investments have contributed to the completion of 21 water treatment plants, the construction of 42 reservoirs and the installation of more than 3,200 kilometres of water pipelines, helping to enhance water supply capacity, reduce non-revenue water and improve overall system reliability. Jaseni said PAAB has evolved into one of Malaysia’s largest and most active sukuk issuers over the past two decades, with its sukuk programme serving as the cornerstone of its long-term funding strategy for critical national water infrastructure projects. He added that the new sustainable financing framework reflects PAAB’s continued commitment to ensuring the resilience and sustainability of Malaysia’s water sector while broadening access to sustainable capital markets. Meanwhile, Second Finance Minister Datuk Seri Amir Hamzah Azizan said Malaysia continues to lead the global sukuk market, accounting for approximately 36% of total global sukuk outstanding as of the end of 2024. He described the framework as an important milestone in integrating blue finance with Islamic finance, creating new opportunities for investors to support projects that improve water supply resilience, reduce water losses and protect the country’s water resources. According to Amir Hamzah, the framework transforms water security into an investable national priority by combining Shariah-compliant financing with greater transparency, accountability and capital market discipline. The sustainable Islamic financing framework was developed in collaboration with Maybank Investment Bank Bhd and independently reviewed by RAM Sustainability Sdn Bhd.

The Executives

Heineken Malaysia Appoints Iain Lo As Chairman

Heineken Malaysia Bhd has appointed Datuk Iain John Lo as its new chairman, effective Aug 15, 2026, succeeding Datuk Seri Idris Jala, who is stepping down after serving nine years on the board. In a statement, the brewer said Lo brings more than 30 years of leadership experience across the energy, banking and telecommunications industries. Heineken Malaysia Bhd, Chairman – Datuk Iain John Lo. He spent over three decades with Shell, culminating in his appointment as country chairman of Shell Malaysia Ltd, a role he held from 2012 until his retirement in March 2021. He also previously served as chairman of Shell Refining Company (Federation of Malaya) Bhd before the company’s sale in 2016. Lo currently serves as a member of the Board of Guardians of the Sarawak Sovereign Wealth Future Fund. He is also an independent non-executive director of RHB Bank Bhd and RHB Investment Bank Bhd, as well as a board member of Sepang International Circuit Sdn Bhd. He holds both Bachelor’s and Master’s degrees in Civil Engineering from the University of California, Los Angeles (UCLA). Heineken Malaysia said the board is confident that Lo’s extensive corporate and governance experience will provide strong leadership as the company navigates an increasingly dynamic business environment while advancing its long-term growth strategy under the EverGreen 2030 agenda. Meanwhile, Idris Jala will retire as chairman and director in accordance with the Malaysian Code on Corporate Governance (MCCG), which recommends a maximum tenure of nine years for independent directors. He will continue to support the company as an adviser from Aug 15. The company credited Idris with playing a key role in guiding Heineken Malaysia through a period of significant transformation since joining the board in January 2017. During his tenure, the group strengthened its digital capabilities, enhanced its route-to-consumer strategy, undertook major brewery upgrades and successfully navigated the challenges brought about by the Covid-19 pandemic. Shares of Heineken Malaysia closed 12 sen, or 0.6%, higher at RM19.42, giving the brewer a market capitalisation of RM5.87 billion. The stock has declined 22.9% over the past 12 months.

The Executives

Sunway Appoints Abdul Wahid As Co-Chairman

Sunway Bhd has appointed Tan Sri Abdul Wahid Omar as its co-chairman, effective July 1, 2026. In a filing with Bursa Malaysia, the group said Abdul Wahid, who currently serves as an independent non-executive director of Sunway, has been redesignated to the role following the retirement of Datuk Seri Idris Jala. Sunway Bhd, Co-Chairman – Tan Sri Abdul Wahid Omar. The company expressed its appreciation to Idris for his contributions during his tenure as co-chairman. “The board of Sunway thanks Idris for his invaluable contributions during his tenure as co-chairman of Sunway and wishes him all the best in his future endeavours,” the company said. Abdul Wahid brings extensive leadership experience from both the corporate and public sectors. He served as president and chief executive officer of Malayan Banking Bhd (Maybank) from May 2008, where he oversaw the bank’s regional expansion and transformation initiatives. Prior to leading Maybank, he was the group chief executive officer of Telekom Malaysia Bhd from July 2004 until the company’s demerger with Axiata Group Bhd in April 2008. During his tenure, he played a key role in strengthening the group’s telecommunications business and driving its strategic restructuring. Widely recognised as one of Malaysia’s most respected corporate leaders, Abdul Wahid has also held several prominent positions in both government-linked and private sector organisations, contributing significantly to corporate governance, business transformation and national economic development. His appointment as co-chairman is expected to further strengthen Sunway’s leadership as the group continues to expand its diversified businesses across property, construction, healthcare, education and infrastructure. The leadership transition forms part of Sunway’s ongoing board succession planning and commitment to maintaining strong governance and strategic oversight.

The Executives

CTOS Digital Appoints Creador Founder Brahmal Vasudevan As Chairman

CTOS Digital Bhd has appointed Creador founder and chief executive officer Brahmal Vasudevan as its new non-executive chairman, effective July 1, 2026. According to Bursa Malaysia filings, Brahmal, 57, succeeds Datuk Noorazman Abd Aziz, who is retiring after serving as chairman since February 2020. The appointment comes as Creador remains CTOS Digital’s largest shareholder, holding a 20.784% stake in the company through Jade Vine Sdn Bhd. Brahmal founded private equity firm Creador in 2011 and has served as its chief executive officer since its inception. Under his leadership, Creador has grown into one of the region’s leading private equity firms, with investments across Southeast Asia and India spanning sectors such as financial services, consumer, healthcare, retail and business services. CTOS Digital Bhd, Chairman – Brahmal Vasudevan. Before establishing Creador, Brahmal was the general partner and managing director of ChrysCapital Investment Advisor (S) Pte Ltd from 2000 to 2011. He also held senior positions at several multinational organisations, including Malaysian Tobacco Bhd, Boston Consulting Group, British American Tobacco and Astro. In a separate Bursa filing, CTOS Digital also announced the appointment of Datuk Iswaraan Suppiah, 62, as an independent non-executive director. Iswaraan brings extensive experience in banking, technology and digital transformation. He previously served as group chief operations officer of AmBank Group, where he spearheaded initiatives involving digital transformation, artificial intelligence adoption and operational automation. Prior to that, he held several senior technology and operations roles at CIMB Group. The appointments are expected to strengthen CTOS Digital’s board as the group continues to expand its digital credit reporting and data analytics capabilities while advancing its long-term growth strategy. Shares of CTOS Digital closed 0.75% lower at 66.5 sen, giving the company a market capitalisation of RM1.52 billion. The stock has declined 17.39% year-to-date.

The Executives

Building Meaningful Connections Through Gifting – Penny Choo

For Penny Choo, Co-Founder of BloomThis, gifting is not defined by products or transactions, but by the emotion behind the gesture. It is a way of turning intention into something tangible making it easier for people to express care in life’s most meaningful and everyday moments. When BloomThis was founded in 2015, the idea was shaped by a simple but powerful gap in the market. While floristry had long been established through Giden’s family business in Penang, the way flowers were sold had not kept pace with how people actually lived. “The vision was about removing the friction between wanting to show someone you care, and actually doing it,” Choo explains. “We wanted to make thoughtful gifting easy, reliable, and genuinely beautiful.” What began as an online flower delivery service has since evolved into a broader gifting lifestyle brand used for birthdays, anniversaries, grief, apologies, celebrations, and quiet moments of thoughtfulness. “When I look at what BloomThis represents today, it’s about the feeling you create when you send something to someone,” she says. “That emotional connection has always been at the heart of it—we’ve just found more and more ways to honour it.”   Evolving from Floristry to a Gifting Brand BloomThis was never positioned as a traditional florist. From the outset, it was built around how people express emotion in a modern, digital-first world. BloomThis, Co-Founder – Penny Choo. Choo describes its evolution as a natural expansion of purpose rather than a change in direction. Customers were not simply buying flowers—they were marking moments, expressing feelings, and communicating what words sometimes could not. Today, BloomThis sits within a broader gifting lifestyle space, shaped by the belief that the value lies not only in what is sent, but in what it represents.   Long-Term Vision & Regional Growth Looking ahead, Choo’s ambition extends beyond Malaysia. “For the next five to ten years, I want BloomThis to be the name people reach for across Southeast Asia when they want to express something meaningful—not just in Malaysia,” she says. With strong roots already established locally, the next phase of growth is focused on both expansion and depth—building presence in new markets while strengthening the company’s product range and infrastructure. Singapore has already been an important step in that journey, with broader regional opportunities ahead as the gifting economy across Southeast Asia continues to develop. At the same time, Choo sees technology playing a critical role in shaping the next chapter of the business. “We’ve already built proprietary AI for logistics and route optimisation,” she explains. “The next frontier is using data to help customers gift better, not just faster.” For her, innovation is meaningful only when it improves how personal and relevant the experience feels for customers.   Leadership Journey Like many founders, Choo’s approach to leadership has evolved significantly since the early days of building BloomThis. In the beginning, she was deeply involved in almost every decision, driven by the realities of starting from scratch. “I thought being a leader meant having all the answers and being in the room for every decision,” she says. “But at some point you realise that your job is no longer to do the work. It’s to create the conditions for your team to do their best work.” A key shift was learning to trust people more deeply—not just delegating tasks, but allowing teams the space to operate independently. Today, she is also intentional about how she manages her time and energy, particularly in protecting her mornings for clarity and focused thinking. “Not everything that feels urgent actually is,” she says. “Learning to tell the difference has probably been the most valuable leadership skill I’ve developed.”   Staying Relevant in a Competitive Market In a category built around emotion and timing, staying relevant requires consistency and attentiveness. For Choo, the starting point is always the customer. “The data tells you what happened; the customer tells you why,” she explains. While analytics help track behaviour, she believes true insight comes from listening more closely to customer feedback—understanding both why people choose BloomThis and why they do not. Consistency is equally important. “Relevance isn’t about doing something new every single week. It’s about showing up reliably, in a way that feels true to who you are.” She also emphasises the importance of curiosity—staying open to ideas from outside the industry and continuously learning from different perspectives.   Advice for Women Entrepreneurs Choo is clear and direct when speaking to women building businesses. “Don’t apologise for your ambition,” she says. “Women are often socialised to soften their drive, but ambition is not a character flaw. Own it.” Her second message is about timing and readiness. “I was not ready when we started BloomThis. I figured it out alongside building it. If you wait for perfect conditions or perfect confidence, you’ll wait forever.” Finally, she highlights the importance of building a strong and intentional support system—people who challenge, support, and provide honest feedback. “The people around you shape the kind of leader you become.”   Life Beyond Founder Mode Outside of work, Choo prioritises structure, grounding, and quiet. Her mornings often begin with movement—either Pilates or functional training—followed by a simple breakfast and what she describes as a calming routine that helps set the tone for the day. The rest of her day off is intentionally slow and screen-free, centred around reading, time with family, and moments of stillness. “Quiet is sacred to me,” she shares. “It’s where I come back to myself.”   Building Something That Lasts For Choo, success is not measured only by expansion or commercial performance, but by trust. As BloomThis grows across Southeast Asia, her focus remains on building a brand that people rely on during meaningful moments in their lives. “If there is a legacy I want to leave behind, it is a company that people trust to show up on the important days—the birthdays, the grief, the celebrations, the quiet ‘I was thinking of you’ moments,” she says. At its core,

News

Bank Negara Malaysia Fines AEON Credit For Sanctions Breaches

Malaysia’s central bank said on Wednesday that it has imposed a fine of RM520,000 (US$125,665) on AEON Credit Service (M) Bhd (AEONCR) for breaches involving targeted financial sanctions requirements. AEON Credit, the Malaysian subsidiary of Japan’s Aeon Co (8267), has since implemented remedial measures and conducted refresher training for relevant staff to strengthen compliance processes, according to Bank Negara Malaysia (BNM). BNM said the breaches occurred after AEON Credit allowed a sanctioned entity to open an account with the company. The central bank did not disclose the identity of the sanctioned party. In addition, AEON Credit was found to have delayed freezing the account even after confirmation that the customer was listed under domestic sanctions, the regulator added. “These breaches were attributed to lack of staff oversight and a gap in AEON Credit’s standard operating procedure,” Bank Negara Malaysia said in its statement. BNM also confirmed that AEON Credit has since paid the compound, which was settled on April 16. The central bank reiterated that financial institutions are required to maintain robust internal controls and compliance frameworks to ensure full adherence to sanctions obligations, particularly in relation to customer due diligence and timely account restrictions. The case highlights the importance of strengthening operational safeguards within financial institutions to prevent lapses in sanctions screening and enforcement.

Property

Axis REIT To Acquire RM128 Million Distribution Centre

Axis Real Estate Investment Trust (Axis-REIT) is acquiring a fully occupied distribution centre in Bandar Saujana Putra, Selangor, from City-Link Express (M) Sdn Bhd for RM128 million in cash. In a filing, Axis-REIT’s trustee RHB Trustees Bhd said it has entered into a sale and purchase agreement for the property, which consists of a distribution centre and ancillary buildings located on two contiguous leasehold commercial land parcels measuring a total of approximately 46,776 sq metres. The facility has a total lettable area of around 355,023 sq ft and currently serves as one of City-Link Express’ key distribution hubs, supporting its logistics and delivery operations. Axis-REIT said the acquisition is in line with its strategy to expand its portfolio of income-generating logistics assets, particularly in strategic locations within the Klang Valley. The transaction is expected to be completed in the fourth quarter of 2026. Upon completion, City-Link Express will enter into a 15-year leaseback arrangement, ensuring continued occupation of the facility while providing stable and long-term rental income for the REIT. Under the lease agreement, Axis-REIT will receive an initial monthly rental income of RM661,878, with provisions for periodic rental escalations throughout the lease tenure, enhancing the asset’s long-term income profile. Axis-REIT said the acquisition will be funded via existing bank borrowings and is expected to increase its gearing level to approximately 33.94% of audited total assets as at Dec 31, 2025. The property is strategically positioned near several major highways, including the ELITE, SKVE, West Coast Expressway (WCE) and KESAS, providing strong connectivity to key logistics and industrial corridors across the Klang Valley and supporting efficient distribution operations.

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