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News

Vietnam To Build Seven New Airports By 2030

Vietnam plans to open seven new airports by 2030 as part of efforts to expand its aviation network and meet growing travel demand. The new airports include Long Thanh, Gia Binh, Quang Tri, Phan Thiet, Sa Pa, Tho Chu and Thanh Son. Combined with upgrades and expansions at existing airports, the projects are expected to raise the country’s annual passenger handling capacity to as much as 220 million. According to Vietnam’s Construction Ministry, the country aims to have 32 airports by 2030, comprising 15 international and 17 domestic airports. By 2050, three additional domestic airports are planned, bringing the total to 35. Vietnam currently operates 22 airports, while five more are under construction. Expansion or upgrade plans have been approved for 14 airports, with planning underway for the remaining eight. The ministry estimates that airport development between 2021 and 2030 will require investments of about 485 trillion dong (US$18.5 billion), with 55% expected to come from public funds and the rest from private investment. Passenger traffic is projected to exceed 191 million annually by 2030, growing at an average rate of 9.7% per year, while air cargo throughput is expected to reach 3.75 million tonnes, with annual growth averaging 19.3%.

Energy & Technology

MRCB Enters Data Centre Business With RM2.1 Bil Bukit Jalil Project

Malaysian Resources Corp Bhd (MRCB) is making its debut in the digital infrastructure sector through a strategic collaboration with Perintis Akal Sdn Bhd (PASB) to develop an AI-ready data centre in Bukit Jalil with an estimated gross development cost of RM2.1 billion. The project will be undertaken by Bukit Jalil Sentral Property Sdn Bhd (BJSP), a wholly owned subsidiary of MRCB Land Sdn Bhd, which in turn is wholly owned by MRCB. BJSP, which owns the 37,320 sq m leasehold site, will serve as the master developer of the facility. Under the proposed arrangement, PASB, a unit of Pemandu Partners International PLT, will act as the long-term tenant and operator under a proposed 10-year lease agreement. MRCB said definitive agreements are expected to be finalised by the third quarter of 2026, while the facility is targeted for completion by the fourth quarter of 2027. Spanning approximately 500,000 sq ft, the data centre will have a capacity of 65MW IT load and will be built in accordance with Uptime Institute Tier III standards. The facility will feature high-density power and cooling systems designed to support advanced GPU-based workloads and next-generation AI accelerator platforms. PASB will partner with Inspur Communication Malaysia Sdn Bhd, a subsidiary of China’s Inspur Group, for the construction, commissioning, maintenance and operation of the facility. MRCB Group Managing Director Datuk Imran Salim said the project is expected to generate a stable stream of recurring income through the 10-year lease structure while enhancing the value of its Bukit Jalil land assets. He added that MRCB has already received multiple expressions of interest for the facility’s 65MW capacity, signalling potential opportunities for further data centre developments on its remaining Bukit Jalil land bank.

News

KUSKOP Launches RM205 Mil SINAR Programme For MSMEs

The Ministry of Entrepreneur and Cooperatives Development (KUSKOP), through SME Corp Malaysia, has launched the SINAR Programme, a RM205 million initiative aimed at strengthening the resilience and growth of micro, small and medium enterprises (MSMEs) across the country. The programme introduces five key initiatives, including financing facilities, grants and business support measures, designed to help entrepreneurs overcome financial challenges, improve competitiveness and expand their operations. According to Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong, the initiative seeks to ensure MSMEs have access to the resources needed to navigate ongoing economic uncertainties and seize growth opportunities. “In the face of global economic uncertainty, the government cannot allow MSMEs to confront these challenges alone,” he said. Five Initiatives Under the SINAR Programme The SINAR Programme (Program Sokongan Industri dan Perniagaan Rakyat) comprises three financing schemes, a business scaling grant programme and discounted MSME certification fees. 1. SME Easy Financing Scheme (SFSME 2.0) The scheme offers financing ranging from RM50,000 to RM5 million for business expansion, asset acquisition and working capital requirements. Implemented in collaboration with Malaysian Industrial Development Finance Berhad (MIDF), the financing carries a profit rate of 5% per annum based on monthly balances. 2. SME Capacity and Capability Enhancement Scheme (BAP) Developed with microLEAP, the BAP scheme provides financing between RM500,000 and RM1.5 million to help businesses strengthen operations and manage cash flow. Term financing is available at 5% per annum, while invoice financing rates range between 0.5% and 0.7% per month. 3. PRESTIGE 2.0 Financing Scheme Targeted at high-growth SMEs, the scheme offers financing from RM500,000 to RM1 million through a partnership with Funding Societies. Businesses can enjoy financing rates as low as 3% per annum, while invoice financing is available at 0.5% per month. Companies with strong repayment records may also qualify for rebates of up to 30%. 4. Inclusive Business Scaling Programme The programme supports SMEs seeking to adopt inclusive business models and strengthen supply chain participation. Eligible businesses can receive grants of up to RM200,000, with funding support covering up to 90% of eligible costs for development and training initiatives. 5. 50% Discount on MSME Status Certification To encourage more businesses to obtain official MSME recognition, SME Corp Malaysia is offering a 50% discount on MSME Status Certification applications from June to August 2026. The certification is often required when applying for government grants, financing facilities and other support programmes. Supporting MSME Growth The launch of the SINAR Programme comes as many businesses continue to face challenges from rising costs, economic uncertainty and supply chain disruptions. With financing of up to RM5 million, grants of up to RM200,000, and a range of business support measures, the programme is expected to provide much-needed assistance for Malaysian MSMEs looking to strengthen operations, improve resilience and pursue long-term growth. More information on the SINAR Programme is available at www.smecorp.gov.my.

News

IJM Land, MRT Corp Launch RM600 Mil Transit-Oriented Project In Cheras

Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp) and IJM Land have unveiled The Linque, a new transit-oriented development (TOD) in Cheras with an estimated gross development value (GDV) of RM600 million. Transport Minister Anthony Loke is seen during the launch of The Linque Cochrane at Cochrane MRT Station in Cheras, Kuala Lumpur, June 15, 2026.  The project marks MRT Corp’s first TOD initiative in the Klang Valley and will feature approximately 586 serviced apartment units alongside curated retail spaces directly connected to the Cochrane MRT Station. Located above the station, The Linque is designed to provide residents with seamless access to public transportation and retail amenities. The development is connected to the wider MRT network, including the Kajang Line, which currently records the highest daily ridership in the MRT system. Speaking at the launch event in Kuala Lumpur, MRT Corp chief executive officer Datuk Mohd Zarif Hashim said the project demonstrates the company’s commitment to creating long-term value around public transport infrastructure and surrounding communities. “One of its most distinctive features is its direct basement-to-concourse connection, a first-of-its-kind feature for an MRT-integrated residential development, allowing residents to access the rail network conveniently without needing to step outdoors. “This is the kind of connectivity that TOD is meant to deliver, where public transport is not simply nearby, but fully integrated into the way people live, move and connect every day,” he said. Mohd Zarif noted that MRT Corp played an active role throughout the planning and design stages of the development following the signing of a joint development agreement with IJM Land in December 2025. Rather than taking a conventional landowner-developer approach, MRT Corp worked closely with IJM Land to ensure the project’s design, connectivity and placemaking elements align with the long-term objectives of the MRT network. He added that IJM Land was selected after undergoing a thorough evaluation process, citing the developer’s strong track record. The unveiling ceremony was attended by Transport Minister Anthony Loke and IJM Land chief executive officer Datuk Tony Ling Thou Lung. Loke said the project aligns with the Ministry of Transport’s objectives to maximise the value of strategic public assets while encouraging greater use of public transportation. “Through our network and its surrounding land, where it can be developed into real estate, shopping malls and other projects, value can be generated for the government while also increasing ridership for the MRT network. “This is a win-win situation and a catalyst for economic development,” he said. The minister also encouraged developers to collaborate in creating connected pedestrian networks that link MRT stations with surrounding buildings, destinations and public spaces, helping to strengthen urban connectivity and accessibility.

The Executives

Asia School Of Business MBA 2025 Graduate Wei Han’s Homecoming Journey

From Massachusetts Back to Malaysia For Wei Han Lim, Asia School of Business (ASB) MBA Class of 2025, the MBA wasn’t a carefully plotted pivot. It was, in his own words, “a last-minute scramble.” Born and raised in Malaysia, Wei Han spent 12 years in Massachusetts, completing his Bachelor’s degree at Tufts University and his Master’s degree at MIT, both in chemical engineering, before building a career in process engineering and life sciences. When visa hurdles disrupted his plans in the United States, he discovered the Asia School of Business through MIT’s Assistant Dean of Admissions, who suggested the Malaysia-based sister school. “At first, ASB was supposed to be a bridge back to MIT through the MSMS,” Wei Han admits. “But as I settled in, I realized being here made personal and professional sense. Looking back, I’m glad it worked out this way.” Confidence, Community and Epiphanies When asked to describe his ASB journey in three words, Wei Han does not hesitate: community, vulnerability, epiphany. “Coming in, my ego had taken a battering,” he reflects. “I lacked confidence. But ASB became a safe space to explore, try new things, and be supported by classmates and faculty alike. This is a place where everybody knows each other – it seemed like a waste to not lean into that.” He credits the Career Development Office and ASB’s alumni network with helping him shape his personal brand around tackling sustainability challenges, while classmates provided both encouragement and what he jokingly describes as “regular doses of friendly insults.” Negotiation classes with Professor Alexander Eng also left a lasting impression. “Rejection therapy taught me the worst that can happen is hearing ‘no.’ That gave me the courage to ask for what I want and fight for the value that I deserve,” he says. Learning for Impact Wei Han’s passion for sustainability found fertile ground at ASB. Through electives with Professor Renato Lima de Oliveira and Dr. Pieter Stek, he deepened his understanding of how technology, business strategy and policy intersect to drive sustainable energy transitions. His Capstone project at Gentari, where he worked with peers on human resource challenges, proved both unexpected and transformative. “It was out of my comfort zone but incredibly rewarding,” he recalls. “We fought each other all the time, built on a deep sense of trust and respect for each other, working towards a shared goal. We felt truly validated when we learned that our work continues to be used by our host company, nearly a year later. It was one of the best team experiences of my life.” The MIT Connection and Beyond For Wei Han, ASB’s collaboration with MIT represented more than an academic partnership. It provided continuity with a place that had shaped much of his life. “Heading back for our MIT Immersion gave me closure in more ways than one,” he says. “My classmates finally understood where I came from, and I could reconcile my identity as a quasi-third culture kid.” Today, he continues to embrace both communities, serving as Secretary of the MIT Club of Malaysia while leading strategic finance research projects at ASB. Lessons in Vulnerability and Growth Some of Wei Han’s most meaningful experiences came outside the classroom through ASB’s Mindset Lab. “We learned to embrace vulnerability as we undertook personal growth mindset projects over the year,” he says. “We shared our final projects during a session in a week in which we were all focused on other projects, so it easily could have been something that we could have checked out of. But everyone came prepared to share how they had grown, and everyone was prepared to listen and support each other.” Lasting Bonds and Chaotic Fun Beyond academics, Wei Han values the friendships and connections formed throughout the MBA journey. From dinners with friends across Kuala Lumpur to board game nights with faculty and alumni, he cherishes the experiences that extended beyond the classroom. One memorable moment came during ASB’s 10th Anniversary celebration, where he found himself unexpectedly performing in a band alongside ASB President Joseph Cherian the day before graduation—with no rehearsal. “Chaotic unhinged fun,” he laughs, borrowing Professor Melati Nungsari’s description of the occasion. The performance saw him singing backing vocals before an audience that included Nobel Laureate Robert Merton and numerous distinguished guests. A Gem for Future Students Asked what advice he would offer future students, Wei Han is quick to reassure. “Don’t worry. You’re not the only one with impostor syndrome. Everyone’s dealing with their own version of it. Embrace that vulnerability, collaborate, and you’ll thrive.” For someone who initially viewed the Asia School of Business as a stepping stone, it ultimately became something much more significant—a launchpad combining rigorous learning, a vibrant community and a renewed sense of purpose. What began as a detour became direction. A last-minute decision that gave him more than a degree—it helped him rediscover himself. About Asia School of Business (ASB) The Asia School of Business (ASB), in collaboration with MIT Sloan School of Management, is dedicated to developing transformative and principled leaders through action learning and a global perspective rooted in Asia. Learn more about ASB: https://asb.edu.my/ Source / Credit: Asia School of Business (ASB)

Investment & Market Trends

Jardine To Buy Back US$500 Mil In Shares

Jardine Matheson Holdings Ltd plans to repurchase US$500 million worth of its own shares by the end of next year, as part of efforts to enhance shareholder returns and support its broader business transformation. The Hong Kong-based conglomerate also aims to increase its annual dividend by at least 5% yearly through 2030 and deliver at least 9% annual growth in total shareholder returns, according to a company statement. The move marks the company’s latest step in reshaping its nearly 194-year-old business empire, shifting from a traditional long-term owner-operator model toward a more active investment approach. Led by chairman Ben Keswick and chief executive officer Lincoln Pan, Jardine has been reviewing parts of its portfolio, including potential divestments of long-held businesses such as restaurant chains, property assets, and automotive dealerships, while expanding into new sectors like healthcare and medical-related industries. The strategic overhaul comes as several major Hong Kong conglomerates reposition themselves amid changing geopolitical conditions and rapid technological advancements. Jardine said it is targeting at least US$200 million in profit after tax and minority interests from new acquisitions, focusing on market-leading Asia-Pacific companies with strong technology adoption capabilities, including artificial intelligence (AI). To fund future investments, the group plans to recycle at least US$4 billion in capital from portfolio companies by 2030, excluding contributions from its property unit and Indonesian conglomerate interests. The company has also been actively reviewing asset monetisation opportunities. Over the past year, Jardine has put more than US$1.8 billion worth of Hong Kong property assets up for sale and is exploring additional divestments, including selected commercial properties and automotive dealership operations in Hong Kong, Macau, Malaysia, and Singapore. The planned buyback signals Jardine’s intention to strengthen investor confidence while repositioning the group for long-term growth.

Investment & Market Trends

TMK Proposes RM920 Mil CCM Acquisition

TMK Chemical Bhd has proposed to acquire Chemical Company of Malaysia Bhd (CCM) from Batu Kawan Bhd in a RM920 million cash-and-shares deal, a move that would significantly expand its business footprint and make Batu Kawan a major shareholder in the listed chemicals company. In a filing with Bursa Malaysia, TMK said it had submitted a non-binding letter of intent to acquire 100% of CCM, excluding associate company Orica-CCM Energy Systems Sdn Bhd and two land parcels linked to that business. These assets will be transferred out at cost before or after the completion of the deal, subject to approvals. The proposed RM920 million purchase price will be settled through a mix of cash and newly issued TMK shares. TMK said the cash component will be funded through proceeds from its December 2024 listing, bank borrowings, and internally generated funds, while the share portion will be issued at RM1.9098 per share, based on the company’s five-day volume-weighted average price as of May 31. Upon completion, Batu Kawan is expected to own at least a 20% stake in TMK, positioning it as the company’s second-largest shareholder. The transaction is considered a related-party deal, as TMK’s largest shareholder, Datuk Lee Soon Hian, is the younger brother of Batu Kawan chairman Tan Sri Lee Oi Hian. As such, the proposal will require approval from non-interested shareholders and reviews by independent advisers. In a separate statement, Batu Kawan said its board — excluding interested directors — had agreed in principle to the offer, subject to due diligence, independent advice, and the signing of a definitive sale and purchase agreement. The proposed disposal comes around five years after Batu Kawan privatised CCM. In 2020, the group acquired a 56.32% controlling stake in CCM from Permodalan Nasional Bhd (PNB) for RM292.8 million, before completing the privatisation in 2021. CCM manufactures a range of industrial and specialty chemicals, including chlor-alkali products, sulphur derivatives, and polymer coatings, serving industries such as water treatment, healthcare, manufacturing, agriculture, and rubber. For TMK, the acquisition would mark a major expansion beyond its core chemical storage and logistics business into manufacturing, allowing it to move further up the value chain through CCM’s established production capabilities. The proposed deal also comes as Batu Kawan pursues other strategic investments, having recently acquired a 47.7% stake in MKH Bhd for RM549.8 million, triggering a mandatory general offer for the remaining shares. While the CCM acquisition remains subject to approvals and due diligence, the move signals a potential portfolio rebalancing by Batu Kawan, allowing it to monetise a mature asset while retaining exposure through a substantial stake in TMK. Both parties have agreed to a two-month exclusivity period to negotiate the deal, with due diligence expected to be completed within one month of offer acceptance.

Property

Mycron Steel Unit To Buy Shah Alam Industrial Land For RM30 Mil

Mycron Steel Bhd’s wholly owned subsidiary, Melewar Steel Tube Sdn Bhd, has signed a conditional sale and purchase agreement with Melewar Industrial Group Bhd to acquire a leasehold industrial property in Shah Alam, Selangor, for RM30 million in cash. In a filing with Bursa Malaysia, Mycron said the property comprises an industrial land parcel with a single-storey detached factory, a single-storey annexed office, and several supporting ancillary buildings. The steel manufacturer said the acquisition is expected to strengthen the group’s operational flexibility, allowing it to better plan and support future business expansion while reducing rental-related costs. The company added that the property’s strategic location in Shah Alam would help minimise operational disruptions and may also offer long-term value appreciation. The proposed acquisition remains subject to several conditions, including shareholder approval at the company’s upcoming extraordinary general meeting (EGM). Barring unforeseen circumstances and pending all necessary approvals, the deal is expected to be completed in the fourth quarter of 2026. Kenanga Investment Bank Bhd has been appointed as the principal adviser for the proposed acquisition.

The Executives

Derek Teh Wan Wei Named MRMA Chairman

The Malaysian REIT Managers Association (MRMA) has appointed Derek Teh Wan Wei, chief executive officer and executive director of Sunway-REIT Management Sdn Bhd, as its new chairman. Teh’s appointment marks a leadership transition for the association, which represents the interests of Malaysia’s real estate investment trust (REIT) management industry and works to promote best practices, governance, and growth within the sector. At the same time, Zuhairy Md Isa of Am-REIT Managers Sdn Bhd was re-elected as vice-chairman, continuing his role in supporting the association’s strategic direction. Joining him as newly elected vice-chairman is Yong Su Lin of CapitaLand Malaysia-REIT Management Sdn Bhd. Meanwhile, Datuk Stewart Labrooy of Alpha-REIT Managers Sdn Bhd was re-elected as honorary secretary, continuing his responsibilities in overseeing the association’s administrative matters. Hafidz Atrash Kosai Mohd Zihim from Pelaburan Hartanah Nasional Bhd (PHNB) will also continue serving as honorary treasurer for a second term, overseeing the association’s financial affairs. In addition, Zainal Iskandar Ismail of Hektar Asset Management Sdn Bhd was elected as a committee member, further strengthening MRMA’s leadership team. The appointments reflect MRMA’s continued efforts to reinforce collaboration within Malaysia’s REIT industry while supporting the sector’s development amid evolving market conditions. MRMA plays a key role in representing REIT managers in Malaysia, advocating for industry growth and strengthening engagement among stakeholders in the country’s property investment landscape.

Investment & Market Trends

BAssets Sells RM20 Mil Shares To Vincent Tan

Berjaya Assets Bhd (BAssets) has sold shares in Berjaya Corp Bhd (BCorp) and Berjaya Property Bhd to major shareholder Tan Sri Vincent Tan Chee Yioun for a total cash consideration of approximately RM20 million. In a filing with Bursa Malaysia, BAssets said its wholly owned subsidiaries, Berjaya Bright Sdn Bhd and Berjaya Times Square Sdn Bhd, carried out the disposals through direct business transactions. The sale involved 59.79 million BCorp shares, representing a 1.01% stake, valued at RM14.05 million or 23.5 sen per share. Additionally, BAssets disposed of 23.8 million Berjaya Property shares, equivalent to a 0.49% stake, for RM5.95 million or 25 sen per share. Following the transactions, BAssets’ stake in BCorp declined to 1.39% from 2.39%, while its holding in Berjaya Property fell to 0.27% from 0.75%. The company said the disposal prices were based on prevailing market rates at the time of the transactions, with all shares sold free of encumbrances. According to BAssets, the move allows the group to partially realise its investments in both companies, with proceeds to be used as working capital for ongoing development projects. The company added that the disposals are not expected to materially impact its net assets, earnings, or gearing for the financial year ending June 30, 2026, and will not affect its issued share capital or substantial shareholders’ holdings.

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