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Pay-TV operator Astro Malaysia Holdings Bhd has confirmed it will not be the primary broadcaster for the upcoming FIFA World Cup, ending its 20-year streak as the official tournament broadcaster in Malaysia. In a statement on Wednesday, Astro said its “fair and competitive bid” for the broadcasting rights was not accepted by FIFA. However, the company said it is currently in discussions with the new rights holders to explore opportunities for World Cup matches to still be shown across its platforms, including Astro, NJOI and its OTT streaming service Sooka. Astro said this could help extend coverage and accessibility to more Malaysians, including viewers at home, in commercial venues and on mobile devices. Earlier, Communications Minister Datuk Fahmi Fadzil announced that RTM and Unifi TV have secured the official broadcasting rights for the FIFA World Cup 2026 in Malaysia. The matches will also be available via MyTV, RTM Klik and Unifi TV’s OTT platforms. Commenting on its unsuccessful bid, Astro said the sports broadcasting landscape has changed significantly due to rising costs, inflation, piracy and shifting commercial returns. The company said escalating international sports rights fees have made it more difficult to justify investment levels, while piracy has reduced the value of premium content across legitimate platforms. Astro also noted that previous World Cups in 2018 and 2022 were widely pirated in Malaysia, which impacted returns for rights holders. It added that match timings and limited time for marketing and advertising campaigns had further reduced the commercial viability of securing the rights at higher costs. The 2026 FIFA World Cup, jointly hosted by the United States, Canada and Mexico, will kick off in Mexico City on June 11, with the final scheduled in New Jersey on July 19.

RT Pastry Holdings Bhd (RT Pastry) has signed an underwriting agreement with KAF Investment Bank Bhd for its initial public offering (IPO) and planned listing on Bursa Malaysia’s ACE Market. From left: Leou Thiam Lai, Independent Non-Executive Chairman of RT Pastry Holdings; Lu Chun-Neng, Executive Director cum Group CEO ; Rohaizad Ismail, CEO of KAF Investment Bank; Ahmad Fazlee Aziz, Head of Corporate Finance. The pastry and bakery products manufacturer is expected to be listed on the ACE Market by the second quarter of this year. In a statement, the group said the IPO involves the issuance of 91.54 million new ordinary shares, representing about 27% of its enlarged share capital. Of the new shares, 16.96 million will be offered to the Malaysian public, while 6.78 million will be allocated to eligible directors, employees and contributors. A further 42.38 million shares will be placed to selected Bumiputera investors approved by the Investment, Trade and Industry Ministry, while 25.42 million shares will be offered to institutional and selected investors. Executive director and group CEO Lu Chun-Neng said the IPO will provide the company with a platform to expand its retail presence and upgrade its manufacturing capabilities. He added that the listing will support the group’s efforts to continue delivering quality products while strengthening its long-term growth strategy. RT Pastry said proceeds from the IPO will be used to open new outlets, purchase machinery and equipment, and repay bank borrowings, which are expected to improve operational efficiency and support expansion plans. KAF Investment Bank will act as the principal adviser, sponsor, underwriter and placement agent for the IPO exercise.

FWD Takaful Berhad (“FWD Takaful”) announced the strategic bancatakaful partnership with MBSB Bank Berhad (“MBSB Bank”), a full-fledged Islamic bank dedicated to offering innovative and Shariah-compliant products and services in Malaysia. The preferred alliance provides FWD Takaful access to leveraging its capabilities to meet the diverse needs of MBSB Bank’s customers with takaful solutions, enabling the Islamic bank to expand its product offering in delivering greater value for its customers. [L-R] Sean Lee, Head of Partnership FWD Malaysia; Chong Wen Han, Country Chief Partnership Distribution Officer FWD Malaysia; Aman Chowla, Country Chief Executive Officer FWD Malaysia; Datuk Ahmad Hizzad Baharuddin, Chairman FWD Takaful; Dato’ Wan Kamaruzaman bin Wan Ahmad, Chairman, MBSB Berhad; Rafe Haneef, Group Chief Executive Officer, MBSB Berhad; Usman Ghouse, Group Chief Consumer Banking Officer, MBSB Berhad; Vivian Chee, Head of Takaful & Legacy Solutions, MBSB Bank Berhad. FWD Takaful and MBSB Bank have entered a bancatakaful service agreement to promote and market takaful products offered by FWD Takaful. Aman Chowla, Country Chief Executive Officer of FWD Malaysia, said,“We are pleased to announce our strategic partnership with MBSB Bank, a meaningful step towards expanding access to inclusive and customer-centric takaful solutions. By combining our digital innovation and protection expertise with MBSB’s strong ecosystem, we aim to deliver simple, affordable, and relevant protection to more Malaysians. Together, we are committed to empowering individuals and families to secure their financial future with confidence, while contributing to a more resilient and protected community.” Present at the strategic partnership ceremony were Aman Chowla, Country CEO of FWD Malaysia, and Rafe Haneef, Group Chief Executive Officer of MBSB Berhad. Datuk Ahmad Hizzad Baharuddin, Chairman of FWD Takaful, and Dato’ Wan Kamaruzaman bin Wan Ahmad, Chairman of MBSB Berhad were also present. Rafe Haneef, Group Chief Executive Officer of MBSB Berhad, said,“This partnership brings together FWD Takaful’s product strength and MBSB Bank’s customer reach in a way that strengthens the overall customer offering. It reinforces the wealth and protection proposition we are building at MBSB Bank, while giving FWD Takaful a stronger platform to extend its solutions through a growing consumer franchise. The outcome is a more complete proposition for customers across wealth, protection and long-term planning.” The partnership launch ceremony of the bancatakaful service agreement was held on Tuesday, 5 May 2026, at the St. Regis Hotel, Kuala Lumpur. FWD Takaful and MBSB Bank also announced the launch of Takaful SmartGain, a family takaful savings plan that helps you accumulate wealth over time, while protecting what you’ve built at the same time.

PT Bank CIMB Niaga Tbk, the Indonesian subsidiary of CIMB Group Holdings Bhd, is set to spin off its Islamic banking business into a standalone bank in the fourth quarter of this year. CEO Lani Darmawan said the timeline is based on recent discussions with regulators, adding that the move is aimed at meeting regulatory requirements and allowing the Islamic business greater room to grow. The new entity, to be named Bank CIMB Niaga Syariah, will have about IDR70 trillion (RM16 billion) in assets and will start with around 30 branches nationwide. CIMB Niaga currently holds about 7% of Indonesia’s Islamic banking market, making it one of the largest players, though still behind Bank Syariah Indonesia (BSI). Indonesia requires Islamic banking units with assets above IDR50 trillion or significant scale to be spun off into standalone banks, as part of its regulatory framework to strengthen the sector. Following the spin-off, CIMB Niaga Syariah will operate independently but remain a 100%-owned subsidiary of CIMB Niaga. The bank said it is also exploring growth through mergers and acquisitions and may consider an initial public offering in the future, although no timeline has been set. Management added that the Islamic banking arm will focus on retail and SME segments, with a stronger push toward digital banking rather than branch-based services.